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Wednesday, October 2, 2019 Vol. 14 No. 357

‘Slow inflation, spending pickup to boost growth’

By Cai U. Ordinario

@caiordinario

HE recent deceleration of inflation and recovery in government spending augured well for the economy and will likely boost GDP until next year, according to local economists. In the latest Market Call report, inflation in September likely hit 1.5 percent and this may have boosted growth to 6 percent in the

third quarter and 6.5 percent in the fourth quarter. “The huge job gains, inflation expected to go below 1.5 percent

by September, and the revival of NG spending augurs well for faster GDP growth in H2. Specifically, we expect it to expand by 6 percent in

National government spending finally returned to the positive growth territory in July, albeit mildly. However, it suggests that the kinks introduced by the delayed budget approval are being fixed and we should start seeing double-digit gains by August.”—FMICUA&P Capital Markets Research

the third quarter and accelerate further to 6.5 percent in the fourth quarter,” First Metro Investment See “Inflation,” A2

End-June FCDU loans grow 4% to $17.5B

See “FCDU,” A2

PESO exchange rates n

PEZA CHIEF CALLS FOR CEASE-FIRE, SAYS CITIRA WORD WAR SPOOKS BIZ By Elijah Felice E. Rosales @alyasjah

HE Philippine Economic Zone Authority (Peza) is asking the government’s economic agencies to stop the infighting over the proposed second tax package, as this is reportedly scaring off investors and further fuels uncertainties, both to the country’s disadvantage. In a statement on Tuesday, Peza Director General Charito B. Plaza said the country is slowly becoming “investor scary instead of investor friendly” in the face of the heated debate over the Corporate Income Tax and Incentives Rationalization Act (Citira) bill. The Peza and its registered firms are opposed to the measure, pitting them against its backers—the Departments of Finance (DOF) and of Trade and Industry (DTI). “The exchange of words, suspi-

cions and doubts on the agenda behind the controversial Citira bill—which aims for a major revamp of the current incentives regime given to foreign direct investors, Filipino export industries and economic zone developers—is doing the country more harm than good, and it is creating more instability to the country,” Plaza said. As such, she appealed for a cease-fire to realign the government’s focus on the interest of the investors. She echoed the warning of the Joint Foreign Chambers of the Philippines (JFC) that passing the Citira bill will lead to losses of around 700,000 jobs. “Let’s be humble and not [be] arrogant to accept the truth that we’re becoming investor-unfriendly by neither recognizing nor appreciating the contributions of our exportoriented industries,” Plaza added. See “Peza,” A2

DA tells LGUs to fortify border controls vs ASF By Jasper Emmanuel Y. Arcalas

HE country’s demand for dollar-denominated credit continued to rise in the second quarter of 2019, the Bangko Sentral ng Pilipinas (BSP) reported. Latest data from the Central Bank showed that the outstanding loans granted by the banks’ foreign-currency deposit units (FCDUs) stood at $17.5 billion in end-June 2019. This is 4 percent or $676 million higher compared to the previous quarter’s value of $16.8 billion as disbursements exceeded principal repayments. Compared to last year’s level, the FCDU loans were up by 11.6 percent or $1.8 billion from the endJune 2018 level of $15.7 billion.

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DATA REPORTING BusinessMirror’s Agriculture and Commodities reporter Jasper Emmanuel Y. Arcalas is flanked by Claire Dennis Mapa, National Statistician and Civil Registrar General (right) and Neda Undersecretary Rosemarie Edillon after he receives his award for Best in Statistical Reporting at the 14th National Convention on Statistics Media Awards at the Crowne Plaza in Ortigas Center. Story on page A2. ROY DOMINGO

@jearcalas

HE Department of Agriculture (DA) on Tuesday confirmed a new outbreak of African swine fever (ASF) in Barangay Tatalon, Quezon City, bringing to three the number of outbreaks recorded in the city. The total number of ASF outbreaks in the Philippines has reached 14 even as the DA has yet to name some of the areas that have confirmed cases as efforts to control and contain the spread of the virus are ongoing. ASF is a highly contagious viral disease that is fatal to hogs but is not harmful to humans. The DA said it has started

implementing quarantine measures, particularly depopulation, in Barangay Tatalon to prevent the spread of ASF. Quezon City Mayor Joy Belmonte said 62 out of the 82 pigs in the area have already been culled.

Appeal to LGUs As this developed, the DA appealed to local government units (LGUs) to strengthen their border controls to ensure that illegally transported pigs will not enter their areas. The DA reminded LGUs to refuse hogs that do not have proper documents from relevant government agencies. The department said the illegal transport of pigs is one of the See “ASF,” A2

US 51.7950 n japan 0.4793 n UK 63.6664 n HK 6.6079 n CHINA 7.2720 n singapore 37.4837 n australia 34.9564 n EU 56.4669 n SAUDI arabia 13.8079 Source: BSP (1 October 2019 )

News

BusinessMirror

A2 Wednesday, October 2, 2019

House submits ₧4.1-T 2020 budget to Senate for scrutiny

By Jovee Marie N. dela Cruz @joveemarie & Butch Fernandez @butchfBM

that during the congressional break (from October 5 to November3), “we will be consolidating all of the submissions into the committee report and once we resume sessions [on November 4], we will be ready to sponsor the bill in plenary.”

HE House of Representatives on Tuesday formally submitted to the Senate the proposed P4.1-trillion national budget for 2020.

Deputy Speaker Neptali Gonzales II said the Senate can now scrutinize the next year’s appropriations, which contained P9.5 billion in realignments as the lower chamber’s institutional amendments. “This morning the GAB was formally transmitted to the Senate. It will allow it to be included on First Reading for referral to their Finance Committee, which in turn can deliberate on it during the break,” he said. The Senate Finance Committee committed to work overtime in scrutinizing the budget bill to fast-track Congress approval of the annual money measure. Conf ir ming receipt of t he

Valid, legal

House-approved version of the budget bill, Sen. Juan Edgardo Angara, who chairs the Finance committee, vowed to promptly finish the task in time for President Duterte to sign the final version of the annual money measure before year-end to avert government operating under a reenacted budget by January 1. A budget standoff on the 209 money measure earlier pushed back by four months the signing of this year’s budget, adversely impacting growth and government spending. “Our finance subcommittees are completing the hearings on the proposed budgets of the last few agencies,” Angara said, adding

Meanwhile, Representative Gonzales also assured the public the proposed national budget is valid, legal and constitutional. “Again and again, we contend that it is a pork-free budget as we strictly confined ourselves to the decision of the Supreme Court which declared the PDAF unconstitutional and prohibited the post-enactment identification of projects. Now, the Senate can finally see for themselves,” he said. “This will allow the Senate to include the GAB on first reading for referral to their finance committee, which in turn can liberate on it during the break,” the lawmaker said in a statement. Earlier, Speaker Alan Peter Cayetano rejected Sen. Panfilo Lacson’s allegation that the House planned to allocate an additional P1.5 billion in funds to each of its 22 deputy

speakers and P700 million to its 300 members. Meanwhile, the House clarified that there was no P456-million cut in the proposed budget of the Philippine General Hospital (PGH) for 2020, as claimed by Senate President Pro Tempore Ralph Recto. House Committee on Public Accounts Chairman Anakalusugan Party-list Rep. Mike Defensor said the chamber in fact even augmented PGH‘s budget by P500 million in its institutional amendments on the GAB. “There was no such cut in the budget of PGH made by Congress. What I know is we even increased the budget of PGH,” he said.

2020 budget

Earlier, President Duterte certified as urgent the 2020 national budget in a bid to ensure its timely passage and prevent a repeat of the delay in the passage of the 2019 budget. The 2020 national budget pf P4.1 trillion, which is cash-based, is 11.8 percent more than the 2019 budget and will constitute 19.4 percent of the country’s gross domestic product.

Duterte meeting Putin, Medvedev in Russia By Bernadette D. Nicolas @BNicolasBM

RESIDENT Duterte is set to meet Russian President Vladimir Putin as well as Prime Minister Dmitry Medvedev in his visit to Russia this week. Duterte left for Russia on Tuesday and his first order of business is to meet Medvedev in Moscow today (Wednesday), while his much-anticipated fourth meeting with Putin will take place on Thursday on the sidelines of the Valdai forum in Sochi. Along with Putin and other invited leaders, Duterte will also address top Russian officials, policy-makers, academics and journalists at the

Plenary Session of the Valdai forum. “The highlight of the trip will be the President’s bilateral meeting with President Putin where they will discuss the state of our bilateral relations and how both sides can further enhance and expand our cooperation in various areas. They will also exchange views on regional and global developments and other issues,” said Foreign Affairs Assistant Secretary for European Affairs Ma. Amelita C. Aquino in a predeparture briefing last week. Later today, he will also receive a courtesy call from Igor Sechin, head of Russian oil giant Rosneft. After his meeting with Putin on Thursday, they will also witness the signing of several bilateral agreements

on areas of cooperation such as culture, health and basic research, among others. The last time that Duterte and Putin held talks was at the sidelines of the Asia Pacific Economic Cooperation (Apec) summit in Vietnam in November 2017. Aside from Putin, the Chief Executive will also meet Jordanian King Abdullah II Bin AlHussein also on Thursday. Duterte also met Abdullah II when he visited Jordan a year ago. On Friday afternoon, the President will return to Moscow to attend a PhilippineRussia business forum. Before heading to the business forum, he will first attend a wreath-laying ceremony at the Tomb of the Unknown Soldier. After that, he will be given a walking tour of the Kremlin. On Saturday, the President will be conferred an honorary doctorate by the Moscow Institute of International Relations University. He will then deliver a brief lecture at the university, which is regarded as one of Russia’s prestigious schools in diplomacy and international affairs.

Inflation. . . Continued from A1

Corp. (FMIC) and University of Asia and the Pacific (UA&P) Capital Markets Research said. FMIC-UA&P Capital Markets Research said that while national government spending already grew 3.4 percent in July, they still expect it to further increase in the last quarter of the year. The think tank said infrastructure spending as of July 2019 still fell short by 11 percent to P75.2 billion compared to July last year, with the lingering impact of the delay in the 2019 budget approval seen as a key factor. FMIC-UA&P Capital Markets Research remains confident that the government’s catch-up plan will gain traction in the second half of the year. “National government spending finally returned to the positive growth territory in July, albeit mildly. However, it suggests that the kinks introduced by the delayed budget approval are being fixed and we should start seeing double-digit gains by August,” FMIC-UA&P Capital Markets Research said.

UnionBank ERU

For its part, the outlook of UnionBank’s Economic Research Unit (ERU) was also as rosy, as it sees third quarter GDP reaching 6.1 percent; fourth quarter growth at 6.5 percent; and a full-year growth of 5.9 percent. For 2020, ERU expects GDP to average

Before returning to Davao, he will meet the Filipino community. This is the President’s second visit to Russia in order to make up for his first visit in May 2017 that was cut short with the outbreak of the Marawi siege. Accompanying the President to Russia are Executive Secretary Salvador C. Medialdea, Foreign Affairs Secretary Teodoro L. Locsin, Jr., Finance Secretary Carlos G. Dominguez III, Trade Secretary Ramon M. Lopez, Energy Secretary Alfonso G. Cusi, Agriculture Secretary William D. Dar, Labor Secretary Silvestre H. Bello III, Defense Secretary Delfin N. Lorenzana, Environment Secretary Roy A. Cimatu, Interior Secretary Eduardo M. Año, Science and Technology Secretary Fortunato T. Dela Peña, Communications Secretary Martin M. Andanar, National Security Adviser Hermogenes Esperon, Cabinet Secretary Karlo Alexei B. Nograles, Presidential Spokesman and Chief Presidential Legal Counsel Salvador S. Panelo and Philippine Ambassador to Russia Carlos D. Sorreta.

6.6 percent. ERU said the Notice of Cash Allocation (NCA) utilization ratio of the government in the last seven months showed encouraging signs of recovery. It said the government is already catching up with its spending program as of August 2019 after losing plenty of opportunities in the first four months of the year due to the budget impasse. “These economic growth forecasts are largely based on the potential recovery of domestic investment, particularly that of the public side. These expectations are premised on the continuous government expansionary fiscal policy reforms and accommodative monetary policies,” ERU said. The ERU, meanwhile, said waning global economic demand and the uncertainties of trade issues between the US and China may weigh on GDP growth forecasts. Earlier, Socioeconomic Planning Secretary Ernesto M. Pernia told reporters GDP growth may be around 6 percent in the third quarter, the low end of the 6-7 percent full-year growth target range. Pernia said growth will be driven by the government’s efforts to spend the 2019 budget. The economic team had blamed the budget impasse for the slowdown in GDP in the first semester. “You have to believe, right? We have to believe in ourselves, republic of beliefs,” Pernia said. In a recent speech, Pernia quoted former World Bank Chief Economist and Professor of Economics of Cornell University Kaushik Basu whose recent book was titled, The Republic of Beliefs.

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BusinessMirror’s Jasper Arcalas is PSA’s Best in Statistical Reporting A BusinessMirror reporter on Tuesday bagged the Best Statistical Reporting in Print Media Award for the second year in a row. At the opening of the 30th National Statistics Month (NSM) and the 14th National Convention on Statistics (NCS) on Tuesday, the Philippine Statistics Authority (PSA) awarded Jasper Emmanuel Y. Arcalas for his “high level of professionalism in obtaining the best attainable version of truth.” This was exemplified in the article titled, “Food waste, postharvest losses where millions remain hungry” written by Arcalas and published on October 18, 2018. The article, published in the Business M irror ’s Broader Look section, discussed the country’s food waste situation utilizing various government statistics.

FCDU. . .

Continued from A1

The BSP attributed the growth in loans to borrowing firms’ higher working capital requirements as well as banks’lower interest rates. Data showed that bulk of outstanding loans went to the following resident industries: ■ towing, tanker, trucking and forwarding, receiving 23.7 percent of the total loan portfolio; merchandise and service exporters at 16.4 percent; public utility firms at 8.3 percent; and ■ producers/manufacturers, including oil companies at 4.3 percent. Also, the maturity profile of the FCDU loan

Peza. . .

Continued from A1

“In spite of the high cost of doing business in the Philippines, they are here investing their huge capital, creating thousands and millions of direct and indirect jobs for our people, bringing their technology, developing our lands and contributing to total development,” she said. The uncertainties brought about by the move to reduce corporate income tax (CIT) at the expense of fiscal incentives granted to economic zone firms have been taking a toll on capital registrations with the Peza. Data from the Philippine Statistics Authority (PSA) showed investments to the Peza declined 12.72 percent to P68.32 billion last year, from P78.27 billion in 2017. The House of Representatives in September passed the Citira bill on third and final reading.

The story also included BusinessMirestimate, based on government data, of the amount of rice wasted on a daily basis. The data showed the country wasted P41 million worth of well-milled rice everyday sold at P42 per kilo. The article also stated that “Filipinos waste 360.602 million kg of rice valued at some P15.145 billion, according to the BusinessMirror ’s estimates. This could have fed at least 3.281 million Filipinos.” This is a back-to-back win for Arcalas. This is the first time that a print reporter won the award for two consecutive years. Last year, the PSA bestowed Arcalas the same award for his article, titled “Government needs to increase its palay support price but by how much?” published on March 5, 2018.

ror ’s

portfolio remained predominantly medium- to long-term debt [or those payable over a term of more than one year], which represented 78.1 percent of total, higher than the 75.6 percent level as of end-June 2018. The BSP earlier said this type of portfolio shows the banks’ confidence to lend longer-term funds. Meanwhile, FCDU deposit liabilities stood at $41.3 billion, higher by $1.4 billion or 3.4 percent from $40 billion as of end-March 2019. At least 97 percent of this are held by residents. The BSP said higher FCDU deposits represent additional buffers against external shocks, secondary to the country’s gross international reserves. Bianca Cuaresma The measure will lower CIT rate to 20 percent by 2029, from 30 percent at present, but it will also overhaul the menu of incentives given to investors. Economic zone locators said they support the CIT reduction, but they oppose the rationalization of incentives, including the 5-percent tax on gross income earned (GIE), paid in lieu of all local and national taxes. They said incentives make up for the expensive logistics and power costs in the Philippines, as well as for its lack of infrastructure. If the Citira bill is passed, locators said most of them will be compelled to pack up and relocate to another Southeast Asian country with a more competitive incentives package. In the semiconductor industry alone, some 387,000 jobs will be trimmed resulting from the expected capital flight. “We’re not the only one in the game nor the best in town so we have to compete against the others,” Plaza said.

Manufacturing. . .

Malaysia also saw operating conditions decline at a moderate pace, despite the headline index of 47.9 reaching a four-month high. Singapore, which ranked last, reported a sharp downturn in the health of its manufacturing sector in September. The headline reading of 43.1 was among the lowest in the series history since August 2012.

Outlook turns sour

Local firms surveyed by the think tank, meanwhile, showed that business outlook for the manufacturing sector was the least-optimistic on record. “The one-year business outlook among Filipino manufacturing companies fell to a new survey low in September. While still optimistic on

ASF. . .

Continued from A1

causes of the spread of the ASF, such as the case in Pangasinan, where infected pigs from Bulacan were transported. The DA also warned truckers transporting pigs from affected areas that the “full force of the law will descend upon them” should they continue their illegal practice. “How it is spreading now...the transport [of pigs] from one affected area to an area that is clean. Eventually, because the pigs being transported are infected with the virus, the animals will spread the virus,” Agriculture Secretary William D. Dar told reporters in an interview on Tuesday.

Continued from A12

average, firms were at their most downbeat since the series began in 2016,”David Owen, Economist at IHS Markit, said. “A key factor was falling export sales, which declined at the quickest rate recorded in the series history so far. It appears that firms are losing hope of there being an end in sight for the US-China trade war, which looks to be dampening export orders at an accelerated pace in the Philippines,” he added. “On the other hand, domestic new orders are increasing and leading to a solid rise in total demand, allowing firms to continue on their path of expanding production. Employment numbers grew for the third month running, albeit marginally, while input buying increased at a solid rate. This should support businesses in the midst of a difficult export climate,” he further said.

“We hope that the [traders will] cooperate. Let’s not trade those pigs from affected areas already, you’re spreading the virus to other areas,” Dar added. The DA reminded anew local hog raisers to inform the government if they notice an increase in mortality in their farms or have information about suspected ASF cases. The Philippines has confirmed ASF outbreaks in four provinces (Pangasinan, Pampanga, Bulacan and Rizal) and one city (Quezon City). ASF outbreaks were recorded in Rodriguez, Rizal (Brgys. San Isidro, San Jose, Macabud, Geronimo, San Rafael, Mascap, San Mateo Slaughterhouse); Antipolo (Brgy. Cupang and another new area); Quezon City (Brgys. Silangan, Payatas and Tatalon); and Guiguinto, Bulacan.

The Nation BusinessMirror

A4 Wednesday, October 2, 2019 • Editor: Vittorio V. Vitug

No rush to buy Russian choppers, Lorenzana says By Rene Acosta

@reneacostaBM

HE Department of National Defense (DND) is in no rush to acquire Russian Mi-17 helicopters although it sees the need for the Armed Forces of the Philippines to buildup its capability by acquiring land, sea and air assets. This, in a jest, was what Defense Secretary Delfin Lorenzana told the BusinessMirror following reports that the military is acquiring 16 units of the Russian-made medium-lift helicopters as part of its air lift and transport requirement. The choppers, offered at the price of $14.7 million apiece and with a total worth of P12.5 billion, were reportedly dangled with one free additional helicopter through Rosoboronexport, Russia’s official arms exporter. Lorenzana said it was the Philippine Air Force (PAF) as the end user that has expressed preference for the Russian helicopters. “The PAF wants to acquire the Mi-17. There is no contract yet nor a contract will be signed in Russia during this trip,” Lorenzana said. President Duterte begins today an official visit to Russia, his second in office, where he is scheduled to hold a bilateral meeting with Russian President Vladimir Putin. Lorenzana said that while the Air Force wanted the Mi-17, it has to go through a proper evaluation. “Our TWG [technical working group] is still studying it,” the defense secretary said. If the government acquires the Russian mediumlift helicopter through Rosoboron, this would be the first Philippine military procurement from Moscow, but it would run the risk of violating US sanctions. Rosoboron, it was learned, was among the Russian firms sanctioned by the US government over Russia’s alleged violations that included its annexation of Crimea, and its involvement in Syrian civil war and in US presidential elections, among others.

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Where have all the seized drugs gone? Senators are skeptical on the answers By Butch Fernandez

@butchfBM

KEPTICAL Senate probers took turns grilling ranking Philippine National Police (PNP) officials on the country’s illegal drug situation prompting a tweet from an equally skeptical Senate President Vicente Sotto III.

“We are now witnessing the spectacle of a grand cover-up,” Sotto tweeted. This, even as the Senate Chief Prober Sen. Richard J. Gordon, chairman of the investigating Blue Ribbon Committee, was asked by Senate Minority Leader Franklin M. Drilon to press for an inven-

tory of an estimated multimillion-pesos worth of seized illegal drugs in government custody. “We must have a better system to ensure that these illegal drugs are not recycled,” Drilon said, suggesting that “we may need to amend existing law” covering disposition

of seized illegal drugs to ensure confiscated supplies are not resold in the streets. “What can we presently do to avoid P22billion drugs that can be recycled?” he said. The Senate panel gave the Department of Justice until October 3 to submit proposed amendments imposing stricter evidence custody rules to avert recycling of seized drugs. This, as Senate panel was told that of the average per year of 100,000 drug cases, 70 percent involved sales, while 30 percent involved illegal possession. Drilon, noting that 70 percent to 80 percent of pending cases in local courts involved drug cases, suggested that “judges-at-large can be assigned at existing courts; there is no need to create new courts.” “The first step is an inventory where

the drug evidence were stored,” Drilon said, to which DOJ officials agreed, saying that once an inventory is done they can “destroy the evidence” closing the door for recycling and reselling the drugs back in the streets. Asked by Drilon what can be done where no case was filed, citing seizure of drug shipments found floating at sea, DOJ Court Administrator Midas Marquez replied: “since there is no case, the police can do what it wants, it is up to them.” Drilon, a former justice secretary, agreed that since the seized illegal shipment is “not an evidence, the police are authorized to destroy it,” adding that “a fiscal can also be present.” The senator suggested that the DOJ can also “help us craft a law...to avoid cases where seized drugs are recycled.”

Public, private sectors urged to solve Metro traffic woes amid ongoing infra buildup By Roderick L. Abad

Contributor

@rodrik_28

T the height of worsening traffic woes experienced nowadays in the country, notably in Metro Manila where the construction of several infrastructure projects are now taking place, transportation experts called on both the government and the business community to further work together to solve this problem. In a media briefing during the Roads and Traffic Expo held at the SMX Convention

Center in Pasay City on Tuesday, Angkas Chief Transport Advocate George Royeca said that collaboration between the public and private sectors is important in providing better transport options. This is because it does not only result to public inconvenience but also economic loss. In fact, the Philippines currently loses around P3.5 billion a day, and this is expected to increase to about P5.4 billion by 2035 if the traffic congestion problem is not properly addressed, per a study done by the Japan International Cooperation Agency (Jica). “This is why we will continue to work with all stakeholders involved— because we believe the problem can only be resolved if public and private stakeholders work together to come up with a comprehensive solution,” he said. Royeca noted that Angkas, which is now o n a go v e r n me nt sanctioned pilot run, h a s become a c a se study for the successful partnership between a private enter-

prise and government agencies. Last June, the ride-sharing app provider was granted by the Department of Transportation (DOTr) a six-month trial run that legally allowed the service to operate in Metro Manila and Metro Cebu. All its 27,000 biker-partners were swiftly trained on new safety protocol to comply with the mandated requirements of the DOTr Technical Working Group (TWG). Despite initial speculation from government bodies on its safety, Angkas has so far managed to maintain a .0003 percent accident rate, or 99.997 percent safety record. “We, at Angkas, are dedicated to providing a safe, reliable, and affordable transport option for everyone, and we will do whatever it takes to continue doing so,” Royeca said. “We’ve proven that the government, the private sector and the public can work together to solve the problem.” Another way to address the worsening congestion of road networks in the country, especially in the metropolis, is through education. According to former Presidential Assistant on Public Transport Affairs Ariel Lim, instilling discipline to schoolchildren by teaching them in school the importance of following traffic rules

will be of big help. He added the “political will” on the strict implementation of traffic rules and policies will also aid in easing the commuting public from bottlenecks. “I believe also that the main solution to the problem is a mass transport,” Lim stressed. “This is the train system.” He cited the Metro Rail Transit (MRT 3), which has been the main mode of transportation of around 400,000 to 500,000 commuters traveling everyday along Epifanio de los Santos Avenue (Edsa) in Metro Manila. “If we look at the MRT 3, only 16 trains are running. This could help reduce the volume of commuters in the roads if there will be additional trains to ferry the passengers from and to their destinations, work, school, etc.,” he said in both English and Filipino. Lim, likewise, pointed out the revival of the provincial routes of the Philippine National Railways (PNR) from Manila to Rosario, La Union and Bicol. The railway systems were operational way back during the onset of the Marcos regime in the mid-1960s. “I just hope that there will be more train units when it opens,” he said. “So those are the three important solutions that we can do to help solve the traffic situation,” Lim said.

Group: CARP land distribution under Duterte lowest in history By Jonathan L. Mayuga @jonlmayuga

F it was to be rated for its performance in terms of land distribution, the first three years of the Duterte administration will get the “F” mark. According to the group Task Force Mapalad (TFM), despite President Duterte’s “unwavering” proComprehensive Agrarian Reform Program pronouncements, a close look at the Department of Agrarian Reform’s (DAR) own data will reveal that of the six administrations that implemented agrarian reform since 1988, the Duterte administration had the lowest accomplishment in CARP history. On Tuesday, thousands of farmers held a picket in front of the DAR office in Bacolod City to call on the President to fulfill his promises. “You’ve never changed your promises, Mr. President. Before and after you won the 2016 elections, you never stopped assuring and inspiring us that you would implement CARP and complete the program’s land distribution phase, Teresita Tarlac, president of the Negros-Panay Chapter of TFM said in a news statement. “But what also didn’t change or even got worse, despite your propeasant vows, was the DAR’s land acquisition and distribution performance. The agency’s dismal LAD re-

cord made your administration the slowest of all the administrations that implemented the CARP for the last three decades,” she stressed. Tarlac was among those who led TFM’s march to the DAR Provincial Office in Dawis, San Sebastian Street, Bacolod, on Tuesday. The mobilization, which was held during the opening of the MassKara Festival in Bacolod, culminated in the shaving of heads of the children of peasants, who feared for their future without land. According to TFM, from 2016 to 2018, or the first three years that the current administration implemented agrarian reform, the DAR was only able to distribute to farmerbeneficiaries a total of 91,776 hectares of agricultural landholdings nationwide, or an annual average of 30,592 hectares. The Duterte administration’s three-year LAD performance was just 8 percent of the accomplishment of the Ramos administration in its first three years in office. From 1992 to 1994, the DAR, under President Fidel Ramos’s watch, recorded the highest LAD accomplishment, distributing a total of 1,113,019 hectares of land to CARP beneficiaries, or an average of 371,006 hectares yearly. The administration with the second highest LAD accomplishment was that of late former President Corazon Aquino. In its first three

years of implementing Republic Act 6657, or the Comprehensive Agrarian Reform Law of 1988, her administration was able to distribute a total of 452,074 hectares from 1988 to 1990, or 150,691 hectares annually. Third was the Estrada administration that distributed to CARP beneficiaries a total of 379,905 hectares from 1998 to 2000, or 126,635 hectares yearly. It was followed by the second Aquino administration with LAD accomplishment of 320,916 hectares from 2010 to 2012, or 106,972 hectares annually, and by the Arroyo administration that distributed 313,778 hectares from 2001 to 2003, or 104,593 hectares yearly. Meanwhile, TFM said Negros Occidental still has biggest CARP backlog in history with a LAD balance of 103,373 hectares as of end of June 2019. This is equivalent to 20 percent of the 521,006-hectare LAD balance nationwide. Other provinces with big LAD balance, or undistributed land, that are covered by the CARP are Leyte, with 36,161 hectares or 6.9 percent of the total national LAD balance, followed by Isabela with 32,631 hectares undistributed land or 6.3 percent of the total LAD balance nationwide. Camarines Sur, Masbate, Iloilo, Sorsogon, Albay, Capiz and Sultan Kudarat are also in the list of provinces with high LAD.

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Salceda tells DBM: Don’t forget fund for farmers By Jovee Marie N. Dela Cruz @joveemarie

HE chairman of the House Committee on Ways and Means on Tuesday asked the Department of Budget and Management (DBM) to initiate an institutional amendment in the proposed 2020 General Appropriations Act and allocate an amount for farmers who will be affected by the Tax Reform for Acceleration and Inclusion (TRAIN) Act. During the oversight hearing on the implementation of TRAIN law, Albay Rep. Joey Salceda, the panel chairman, bared that there was no allocation in the 2020 budget for sugar farmers who have been affected by the passage of the TRAIN law, which imposes higher taxes for sugar-sweetened beverages (SSBs). Under the TRAIN law, 15 percent of the revenue from SSB should go directly to farmers. “They [the DBM] can suggest in any point in time, they can suggest changes in the budget,” Salceda said. “We identified in the law that sugar farmers are one of the [beneficiaries of the revenue from SSB’s taxes] but sugar farmers were not funded at all. When in fact, farmers are one of the biggest contributors to the TRAIN through SSB taxes,” he added. Salceda said the oversight hearing of his panel will make sure that the TRAIN law is properly implemented. “Apparently, this law is being implemented without understanding the legislative intention, the law meant to address direct impact to specific sector,” he said. House Committee on Ways and Means Vice Chairman Estrellita Suansing, one of principal authors of TRAIN law, said the projected revenue from the SSB provision of the law is P52 billion. In the same hearing, Finance Undersecretar y Mar ia Teresa Habitan said the government has collected P14.9 billion from January to June 2019. Last year, the DOF said excise tax collections from SSB fell short of the government’s target in fullyear 2018. T he depar tment said such collections reached only P42.6 billion. Of the amount, P39.8 billion was collected by the Bureau of Internal Revenue, while P2.8 billion was collected by the Bureau of Customs. It was short by P11.9 billion of the P54.5-billion collection target of the government. The excise tax on such drinks was imposed under Republic Act 10963, or TRAIN. The law was signed by President Duterte in December 2017, and implemented in January 2018. TRAIN slapped a P6-per-liter tax on beverages using caloric and non-caloric sweeteners and P12 per liter on those using high-fructose corn syrup (HFCS). Milk and 3-in1 coffee mixes are exempted from this tax. Moreover, Suansing called on the Food and Drug Administration (FDA) to implement the TRAIN law properly, claiming the agency is not verifying whether the beverage companies, who submitted applications online, are really using local sugar and not the HFCS. Under the law, the FDA approval is required before firms can legally market a new formulation for their beverages. For her part, FDA Director IV Marilyn Pagayunan admitted that the FDA has no machine to detect how much HFCS in SSBs. “In our food laboratory, the FDA has no earmarked funding for the machine [that can detect how much HFCS in the SSBs],” she said.

Editor: Vittorio V. Vitug • Wednesday, October 2, 2019 A5

DTI to hike export of FMCGs to India as PHL races to improve biz with nontraditional markets

By Elijah Felice E. Rosales

@alyasjah

HE Department of Trade and Industry (DTI) is eyeing to increase shipments, particularly on fast-moving consumer goods (FMCG), to India as part of the government’s policy to improve trade with nontraditional markets.

The DTI’s Export Marketing Bureau has recently conducted an outbound business-matching mission to Mumbai, India, to promote the country’s export items there. The DTI-EMB said it is carrying out efforts to maintain active engagement with South Asian trading partners,

particularly India, as it is one of the world’s fastest-growing economies and set to become the third-largest consumer market by 2025. The office added India’s increasing young population, expanding middle class, as well as rising income levels, are making it ideal as

an export destination. The mission to India was participated by Philippine firms from the sectors of FMCG, such as packaged foods and snacks, beverages, personal-care products, and pharmaceuticals, all of which were identified to have a place in the Indian market. Trade Undersecretary Abdulgani M. Macatoman said the government will continue to press for the expansion of trade between the Philippines and India. “We are intensifying our efforts to enhance the country’s bilateral trade with India by exporting quality Philippine products and services to this booming market through this mission,” Macatoman said in a news statement. The mission was intended to directly link Philippine suppliers to Indian businesses operating in the financial capital of the South Asian

economy and create further opportunities under the Asean-India Free Trade Agreement. It was also a follow through initiative of the first outbound business-matching mission to New Delhi in 2017. During the mission, there were business-to-business meetings with members of several trade groups in India, including the Federation of Indian Chambers of Commerce and Industry, All India Association of Industries and World Trade Center Mumbai. Aside from this, an entrepreneurship seminar was organized that allowed the delegation to link with the Philippine community in Mumbai for potential business ventures. Commercial Attaché Jeremiah C. Reyes urged Filipinos in the financial city to look for business opportunities and adopt the entrepreneurial mindset. DTI-EMB Assistant Director

Agnes R. Legaspi said the mission is but a proof of the agency’s policy to explore nontraditional markets for exporters. “This business mission to India is a testimony of DTI-EMB’s commitment to diversify our exports to nontraditional markets. Barely two weeks after the mission, we already received reports from our participants on the developments in their negotiations with prospective buyers from India. We will continue to monitor the progress and be in full support of our exporters,” Legaspi said. Two-way trade between the Philippines and India grew 5.8 percent to $2.37 billion last year, from $2.24 billion in 2017, according to Philippine Statistics Authority data. Exports to India, on the other hand, improved 3.8 percent to $598.53 million, from $576.59 million.

ERC, DOE told to justify circular on third-party selection in CSP By Joel R. San Juan @jrsanjuan1573

HE Supreme Court has ordered the Energy Regulatory Commission (ERC) and Department of Energy (DOE) to answer the petition filed by a party-list group seeking to declare as illegal a circular issued by the latter that allowed power distribution utilities to select the “third party” that will supervise the conduct of a competitive selection process (CSP) on all power-supply agreements (PSAs). In a two-page resolution, the Court en banc gave the ERC, the DOE and power distribution utilities, such as the Manila Electric Co. (Meralco), Batnayan Island Electric Cooperative Inc., (Banelco), Isabela II Electric Cooperative Inc. (Iselco II), Marinduque Electric Cooperative Inc. (Marelco), Occidental Mindoro Electric Cooperative (Omeco) and Sorsogon II Electric Cooperative Inc. (Soreco II) 10 days to comment on the petition. “Acting on the petition for certiorari and prohibition [with application for the issuance of a writ of preliminary injunction and/or temporary restraining order], the Court resolved, without giving due course to the petition, to…require the respondents to comment thereon within 10 days notice hereof,” the SC said. In the petition filed by Bayan Muna, through its Chairman Neri Colmenares and Rep. Carlos Zarate, the group argued that Energy Department Circular 2018-02-0003, which repealed Sections 3, 4, as well

as other provisions of DC 2015-060008, is void for violating policies and provisions intended to protect consumers under the Electric Power Industry Reform Act (Epira) of 2001 and the Constitution. Section 3, which is considered as the core provision of DC 2015-060008, enjoins all DUs to procure PSAs only through CSP conducted through a third party duly recognized by the ERC and the DOE. The petitioner said the provision guarantees that DUs cannot control, or manipulate, the biddings to favor affiliates, associate firm or selected suppliers. It insisted that it is the responsibility of the ERC and DOE, or the National Electrification Administration (NEA), to ensure a sense of checks and balance, as well as transparency, in the bidding process. On the other hand, Section 4 grants the DOE and the ERC, not only the power to issue guidelines but also a continuing role to monitor the compliance of its guidelines in the design and execution of the CSP, which redounds to greater transparency in the procurement of electric supply. The petition stemmed from the issuance of the circular on February 1, 2018, in the midst of criticisms over Meralco’s failure to conduct CSP, which essentially reverses its policy for a genuine CSP that is supervised by a duly recognized third party. The petitioner alleged that the DOE suddenly issued DC 2018-020003, which repeals Sections 3 and 4, as well as other provisions of DC 2015-06-0008, essentially revers-

Palace turns to old solution to pay ‘meager’ salaries of BI personnel By Bernadette D. Nicolas @BNicolasBM

ALAC AÑANG has once again resorted to allowing the use of Bureau of Immigration (BI) express lane fees and charges to augment the salaries of immigration personnel in the absence of an enabling law increasing the base pay rates of the employees. In signing Memorandum Order (MO) 39, Executive Secretary Salvador S. Medialdea said “there is a need for an interim measure to augment the salaries of BI employees” since Congress has yet to pass an Immigration Modernization law to upgrade the current compensation system of BI. The latest memorandum shall be effective from January to December 2019, or until the passage of an Immigration Modernization law, a law which would increase the base pay rates of BI personnel, whichever comes first.

The previous directive through MO 24 (Series of 2018), which also allowed the use of BI express lane fees and charges to augment the salaries of BI personnel has already expired in December 2018. It was also issued back then since Congress has yet to pass the enabling law. “The guidelines for the augmentation pay of BI personnel under Section 1 of the MO 24 are hereby adopted as guidelines for BI Special Provision 1, ‘Immigration Fees and Collections,’ under the FY 2019 General Appropriations Act,” read MO 39 dated September 27, a copy of which was only released on Tuesday. According to MO 24, the Philippine Immigration Act has not been updated since its passage in 1940, and the “basic monthly pay of BI employees has remained extremely low in spite of the nature of their work, thereby leading to a large number of resignations and causing prejudice to the efficient delivery of frontline services.”

ing its policy for a genuine CSP that is supervised by a duly recognized third party. “The fact that the DU appoints all the members of the third-party bids and awards committee [TPBAC] no longer make a bids and awards committee third party despite the token name. Section 5…of DC 201802-0003 therefore, expressly brings back the control of the bidding process to the DU by repealing the mandatory requirement of a third party,” the petitioner explained. Section 7 of DC 2018-02-0003, according to the petitioner, relegates the DOE from one who will decide which third party to recognize and come out with guidelines to guide DU in the design

and implementation of the CSP to a mere observer who cannot even be involved in the deliberation of the TPBAC, which has the power to decide on the selection of the winning bid. The petitioner insisted it is the DOE which has the duty to ensure the CSP processes are insulated from illegal self-dealing and come out with policies that plugs the gap that allows for self dealing. The DOE’s action, according to the petition, violated Article 16, Section 9 of the 1987 Constitution, which provides that “the State shall protect consumers from trade malpractice.” Last May, the SC directed the conduct of CSP on all PSAs submitted

by distribution utilities on or after June 30, 2015. The Court granted the petition filed by A lyansa Para sa Bagong Pilipinas Inc. in a decision penned by Senior Associate Justice Antonio Carpio. In granting the petition, the Court en banc held that the ERC committed grave abuse of discretion amounting to lack, or excess of jurisdiction, when it unilaterally postponed the effectivity of the CSP requirement by issuing ERC Resolution 13 and ERC Resolution 1. The CSP rules require power distributors to get at least two offers for supply of electricity before awarding a PSA, ensuring the least cost for electricity consumers.

BusinessMirror

A6 Wednesday, October 2, 2019 Republic of the Philippines

DEPARTMENT OF LABOR AND EMPLOYMENT Regional Office No. IV-A 4th Flr. Andenson Bldg. II, Brgy. Parian, Calamba City Telefax No.: (049) 545-7362 October 2, 2019

NOTICE OF FILING OF APPLICATION FOR ALIEN EMPLOYMENT PERMIT (AEP)

JAPLAS INJECTION MOULDERS CORP. FPIP, Brgy. Sta. Anastacia, Santo Tomas, Batangas

SAMUEL MISSION Mr. YOUNGYUN CHOI / INTERNATIONAL SCHOOL INC. Korean Maitim II, Central, Tagaytay City, Cavite

MITSUBISHI MOTORS PHILIPPINES CORPORATION GAP-SEZ, Santa Rosa City, Laguna

MS. KASAHARA YU / Japanese

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

MR. BO LIN/ Chinese

Customer Service Representative (Chinese)

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

MR. JUNSHUAI REN/ Chinese

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

MR. FANGFANG FAN/ Chinese

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

MR. YONG HENG ZHANG/ Chinese

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

MR. XINGZHOU XU/ Chinese

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

MR. SHENG LI/ Chinese

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

MR. ZHU HE/ Chinese

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

MR. SHAOKUN ZHANG/ Chinese

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

MS. CAILIAN MA/ Chinese

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

MR. ZHONGWEI WANG/ Chinese

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

MR. ZHEN WANG/ Chinese

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

MR. KEJUN LIU/ Chinese

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

MR. MURONG LUO/ Chinese

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

MR. HAILIANG LI/ Chinese

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

MR. XIANGXIANG ZHAO/ Chinese

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

MR. XIN WANG/ Chinese

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

MR. HUANZUO WANG/ Chinese

Customer Service Representative (Chinese)

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

MR. CE SUN/ Chinese

Customer Service Representative (Chinese)

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

MR. JUNLONG LI/ Chinese

Customer Service Representative (Chinese)

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

MR. CHAO SUN/ Chinese

Customer Service Representative (Chinese)

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

MS. SHUJING DING/ Chinese

Customer Service Representative (Chinese)

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

MR. CHENGCHENG WANG/ Chinese

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

MR. WEI WANG/ Chinese

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

MR. LEI WANG/ Chinese

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

MR. YAWEN LIU/ Chinese

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

MR. YONG WANG/ Chinese

Customer Service Representative (Chinese)

Notice is hereby given that the following employers have filed with this Regional Office application/s for Alien Employment Permit/s. Name and Address of Company/Employer

Name and Citizenship of Foreign National

Position and Brief Description of Functions

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. QI ZHANG / Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. FEI WANG/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. YA XIANG/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. YUNLONG SUN/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. YUAN ZHUANG/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. JIAKAI WANG/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. WEICONG DAI/ Chinese

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MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. PENGFEI ZHOU/ Chinese

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MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. YANG LI/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. CHUANGKAI ZHOU/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. YOUQUAN YAN/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. LONGFEI HUANG/ Chinese

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MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. LIHUA SUN/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. JING NAN/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. XIAOFENG WANG/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. YANG SHEN/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. JINGQI SU/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. PING ZHANG/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. ZHIWEI SONG/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. YI LIU/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. CHAOJUN WANG/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. JIAOYAN YUAN/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. SHIYU ZHENG/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. DI LIU/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. DEMIAO GONG/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. GUSLAN ./ Indonesian

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MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. ZUOXIN LI/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. MING ZHU/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

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MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. YAN LI/ Chinese

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MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. YAJING YUAN/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. JING YU/ Chinese

Chinese Customer Service Representative

YAZAKI TORRES MANUFACTURING, INCORPORATED Brgy. Makiling, Calamba City, Laguna

MR. SEKI TAKAKAZU / Japanese

Technical Staff to the Vice President

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

MR. HANBIN ZHENG/ Chinese

Customer Service Representative (Chinese)

TERUMO (PHILIPPINES) CORPORATION Laguna Technopark, Biñan City, Laguna

MR. TAKUYA SUMI / Japanese

Manager - SCM Logistics

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

MR. TAO GUI/ Chinese

Customer Service Representative (Chinese)

JAPLAS INJECTION MOULDERS CORP. FPIP, Brgy. Sta. Anastacia, Santo Tomas, Batangas

MR. MASARU HINO / Japanese

Assistant General Manager - Manufacturing

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

MR. ZHIPENG XU/ Chinese

Customer Service Representative (Chinese)

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Wednesday, October 2, 2019

Australia cuts key interest rate to record low 0.75%

ANBERRA, Australia— Australia’s central bank on Tuesday cut its benchmark interest rate by a quarter of a percentage point for the third time since June to a new record low of 0.75 percent, seeking to boost a flagging economy.

The cut follows reductions at the Reserve Bank of Australia board’s monthly meetings in June and July. Previously the bank had not shifted the rate in almost three years. Reserve Bank Governor Philip Lowe said the outlook for the global economy “remains reasonable,” but the risks were tilted to the downside. “ The US-China trade and technology disputes are affecting international trade flows and investment as businesses scale back spending plans because of the increased uncertainty,” Lowe said in a statement. But he said low unemployment and rising wages in most advanced economies are good signs. So are China’s moves to

support its economy and address risks in the financial system, Lowe said. “The low level of interest rates, recent tax cuts, ongoing spending on infrastructure, signs of stabilization in some established housing markets and a brighter outlook for the resources sector should all support growth,” Lowe said. Lowe has previously said he wants to use rate cuts to get the economy growing fast enough to push the unemployment rate down to 4.5 percent. The jobless rate currently sits at 5.3 percent. Lowe expects that lower unemployment will spur sluggish wage growth and lift inflation to the bank’s target range of 2 percent to 3 percent.

Japan raises sales tax to 10% amid signs economy weakening

OKYO—Japan’s national sales tax was raised to 10 percent from 8 percent on Tuesday, amid concerns that the long-delayed move could derail the fragile growth path of the world’s third-largest economy. Officials said ample measures were taken to cushion the impact of the hike after previous tax increases—a twopoint increase to 5 percent in 1997 and another to 8 percent in 2014—brought on recessions. Prime Minister Shinzo Abe postponed this hike twice but said it was unavoidable given rising costs for elder care and a growing national debt as the population ages and shrinks. After decades of fiscal deficits that have taken the debt to more than twice the size of the economy, Abe has promised a return to balance by 2025, but that will require growth to be sustained at a healthy pace. The sales tax hike coincided with the release of data showing business sentiment among large manufacturers worsening in September to its worst level since 2013. The result was better than expected, but the outlook is forecast to deteriorate further by December’s quarterly report of the Bank of Japan’s survey, called the “tankan.” “Particularly affected are producers of basic materials, reflecting recent commodity market movements, as well as producers of general-purpose and production machinery, who are exposed to risks posed by recent reescalation of US-China trade frictions,” Oxford Economics said in a commentary. Other data released this week have shown industrial output decreasing in August, while unemployment remained at a 26-year low of 2.2 percent. The economy expanded at an annual pace of 1.8 percent in April-June, faster than anticipated. But slowing exports and rising prices for oil are expected to drag growth lower in coming months. The sales tax increase covers most goods and ser vices from clothes, elec tronics to transpor tation and medical fees, but the government has sought to soften its impact with tax breaks for home and car purchases. It also kept the tax for groceries unchanged for low-income households and is

providing free pre-school education to families. “We’ll take expeditious and utmost efforts to ward off any risk of a downward swing in the economy,” Chief Cabinet Secretary Yoshihide Suga said on the eve of the tax hike. Analysts say the tax hike poses a deflationary risk at a time of growing uncertainty over trade tensions between the US and China. That’s after years of ultra-loose monetary policy aimed at trying to convince businesses and consumers to spend more money. More than six years after Bank of Japan Gov. Haruhiko Kuroda launched his “big bazooka” injections of billions of dollars of cash into the economy, aimed at prying the country out of its deflationary doldrums. “Considering the current economic conditions, the timing is bad,” said Toshihiro Nagahama, chief economist at Dai-ichi Life Research Institute. He noted that the economy has slowed since late last year and that demand generated by the construction boom for the Tokyo 2020 Olympics is fading. The fear is that might undo years of efforts to escape a deflationary rut where falling prices due to slack demand depress investment, a main driver of growth. The tax hike will put an estimated additional burden on households of more than ¥2 trillion ($18 billion). The exceptions and incentives built into the new sales tax regime are causing confusion. For instance, purchases “to go” at Starbucks Coffee outlets are still taxed at 8 percent, while customers choosing to dine in have to pay 10 percent. Businesses are adapting with price cuts and rewards for cashless payments to attract customers. So economists said there was not a huge rush to beat the increase. That may mean the higher tax’s impact will be less severe than the blows of previous hikes. “Stores seem to provide discounts, so I will go for those, plus, I don’t plan to buy luxurious goods with big price tags,” Junko Matsumoto, a homemaker in her 60s, said as she walked past a Tokyo train station. “I must admit the tax increase was unavoidable.” AP

The annual inflation rate rose to 1.6 percent in the latest June quarter from 1.3 percent in the March quarter. Australia’s economy slowed in the April-June quarter to a 0.5-percent annual growth, its slowest since 2009 in the aftermath of the global financial crisis. Growth for the year through June was 1.4 percent, equa ling the lowest annua l figure recorded since 2000. Lowe wants the government to spend more to stimulate the economy. But the federal government is putting priority on delivering its first surplus budget in 12 years in this fiscal year. The government expects tax cuts delivered to most Australians from July 1 will further grow the economy. The rate has not been increased since November 2010 when it rose 0.25 percent to 4.75 percent. T he Aust ra l i a n economy is suffering from the end of a mining boom, largely to supply China, that carried the country through the global financial crisis without a recession. The country has not suffered a recession—defined as two consecutive quarters of economic contraction—since the June quarter of 1991. AP

Saudi Aramco fully restores oil output as it recovers from attacks

audi Aramco is producing more than 9.9 million barrels a day of crude as it fully recovers from the worst-ever attacks on its energy infrastructure. O u t p u t re a c h e d t h a t l e ve l o n September 25 and is a “little bit” higher now, Ibrahim Al-Buainain, chief executive officer of state-owned Aramco’s energy trading unit, said at Fujairah in the United Arab Emirates. Saudi Arabia has also restored some spare capacity following the September 14 attacks, he said. The aerial attacks highlighted the fragility of global supply chains and the vulnerability of an industry that is Saudi Arabia’s lifeblood. They also underscored the risk to reliable energy flows from the Persian Gulf after a series of tanker bombings in May and June. “On the 25th, yes, we reached that target of production,” he said. “We produce depending on the market and depending on capacity, so actually we are a little bit higher than this.” Aramco is maintaining crude exports at about 7 million barrels a day and pumping more than it did before the aerial strikes as it replenishes stockpiles, he said. Aramco has said it’s committed to meeting demand from all of its customers and didn’t miss any contracted shipments. Oil markets surged after a swarm of explosives-laden drones and missiles struck some of Saudi Arabia’s biggest processing plants, knocking out about 5 percent of global crude supply. Al-Buainain had initially expected the attacks to push oil prices higher by $10 a barrel. While Brent surged as much as $11.73 on the first trading day after the attacks, it has since given up most of that gain as Aramco quickly restored capacity and production and global demand remains a concern. Brent crude was $59.68 a barrel at 9:11 a.m. in Dubai, trading below the close on the day before the surprise assault. Aramco is building redundanc y into its systems that allowed the company to be resilient after the damage to the Abqaiq processing p l a nt a n d K h u ra i s f i e l d, s a i d Al Buainain. Bloomberg News

Wednesday, October 2, 2019

The World BusinessMirror

Editor: Angel R. Calso

Xi says China’s rise unstoppable in face of protests and trade war

resident Xi Jinping declared that no force could stop China’s rise, exuding confidence during a key anniversary as he faced unprecedented challenges from protesters in Hong Kong and US President Donald J. Trump’s trade war.

Army vehicles roll down during a parade to commemorate the 70th anniversary of the founding of Communist China in Beijing on Tuesday. AP/Ng Han Guan

Speaking at the start of grand parade marking 70 years since the founding of the People’s

Republic, Xi called for stability in Hong Kong, unity among Chinese ethnic groups and the

“complete unification” of the countr y. X i delivered the remarks at the site where late Communist Party patriarch Mao Zedong proclaimed the nation’s founding on October 1, 1949. “Today, a socialist China is standing in the east of the world and there is no force that can shake the foundation of this great nation,” Xi told a crowd of carefully vetted guests under smoggy skies in the center of the capital. “No force can stop the Chinese people and the Chinese nation forging ahead.” Xi’s rallying cry came before an hours-long pageant showcasing China’s industrial and scientific achievements, including sophisticated weaponry such as DF-17 ballistic missiles believed capable of circumventing US defense systems. The closely scripted proceedings sought to reinforce the strength of a party facing multiple threats, from the slowest economic growth in decades to violent unrest in one of Asia’s top financial hubs. Even as he spoke, protesters prepared to muster at locations around Hong Kong, urging greater democratic freedoms. Demonstrations have rocked the city since early June, triggered by proposed legislation allowing extraditions to China

and since morphing into a broader pushback against Beijing’s grip. In his most extensive comments on Hong Kong since unrest began in June, Xi said the “one country, two systems” principle under which Hong Kong has been governed since its return from British rule in 1997 must be upheld. A day earlier, Xi had said relations between Hong Kong and the mainland would improve, saying “tomorrow will be even better” during a brief speech to a banquet in Beijing ahead of Tuesday’s holiday. Hong Kong was on edge, with the police boats patrolling Victoria Harbor and the city’s rail operator closing several subway stations that have been near the sites of the most intense clashes. While leader Carrie Lam was celebrating the festivities in Beijing, her deputy Matthew Cheung said China continued to be “fully supportive” of the city’s government. Protesters plan a host of activities on Tuesday, with most set to begin in the afternoon in different parts of the city. They have held running street battles with police nearly every weekend for more than three months, lighting fires and hurling Molotov cocktails at officers who have responded with tear gas, pepper spray and water cannons. Hong Kong’s government canceled the city’s annual National Day fireworks on the waterfront, citing safety concerns, and banned a planned rally by major pro-democracy organizer, the Civil Human Rights Front. The group’s appeal was denied by authorities on Monday, its co-convener Jimmy Sham said. Lam, who had tried to push the bill through before protests erupted, assumed responsibility for the “entire unrest” as she held her first community dialogue event last week. In Beijing, columns of troops and tanks rolled down the avenue of “heavenly peace,” a procession requiring months of careful planning that prompted authorities to lock down the city’s central business district. “Follow the party! Fight to win! Build exemplary conduct!” the troops chanted as Xi inspected their lines. Bloomberg News

An anti-government protester walks through tear gas smoke during a clash with police at the Wong Tai Sin area in Hong Kong on Tuesday. Thousands of black-clad pro-democracy protesters defied a police ban and marched in central Hong Kong on Tuesday, urging China’s Communist Party to “return power to the people” as the party celebrated its 70th year of rule. AP/Felipe Dana

Battles in Hong Kong on China’s National Day

EIJING—Riot police have fired tear gas to disperse pro-democracy protesters in several districts in Hong Kong amid multiple rallies challenging the Chinese Communist Party as it marks its 70th year of rule. Dozens of police officers formed a security cordon, backed by a water cannon truck, to prevent protesters from advancing to Beijing’s liaison office in the city. Battles between hundreds of black-clad protesters and police occurred in multiple locations, turning streets into battlefields. Police fired multiple rounds of tear gas at the Wong Tai Sin, Sha Tin, Tsuen Wan and Tuen Mun areas as protesters hurled gas bombs, bricks and other objects in their direction. Police said protesters used corrosive fluid in Tuen Mun, injuring officers and some reporters. The city was already under tight security, and more subway stations were shuttered as the violence spread. P rotesters a re pav i ng t he streets of central Hong Kong with fake bank notes they usua l ly use at f unera ls, tossing wads of them into the air as they march in black. The notes, many marked “Hell Bank Note,” were a vivid expression of what many protesters say feels like a day of mourning for them as Communist leaders in Beijing celebrate 70 years in power. Like outsized confetti, tens of thousands of the notes covered a broad thoroughfare where a vast

and swelling crowd tens of thousands strong marched, shouting “Fight for freedom.” Protesters brought shopping bags full of giant wads of the notes and passed them out in the crowd. Marcher Ray Luk said as he and his mother tossed notes into the air, “The leaders who won’t listen to our voice, this is for them.” In the crowd, a protester also blew a bamboo trumpet traditionally heard at funerals and weddings, leading the crowd as it sang “Glory to Hong Kong,” an anthem of the protests. Multiple rallies are taking place in Hong Kong in defiance of a police ban as pro-democracy protesters vent their anger at China’s central government, which they say is chipping away at freedoms in the semiautonomous Chinese territory. The biggest march took place in central Hong Kong, with thousands clad in black covering a broad thoroughfare and chanting slogans denouncing China’s Communist Party as it marked its 70th year in power Tuesday. Some carried Chinese flags defaced with a black cross. King Chan, a 57-year-old homemaker who came out to protest with her husband, said, “They are squeezing our necks so we don’t breathe the air of freedom.” Several smaller rallies are taking place in further districts. In at least three areas, riot police chased off hundreds of protesters, but the demonstrators later regrouped. AP

US steps up air strikes on IS militants in Libya

he US has stepped up airstrikes on Islamic State militants in southern Libya, where a breakdown in security has allowed the extremists who once controlled parts of the North African country to regroup. An American strike that killed seven suspected Islamic State members on September 29 was the fourth in a month, with a total of 43 militants dead, according to a tally of casualties from statements released by the US military’s Africa Command. The forces of eastern-based strongman Khalifa Haftar swept through the oil-rich southwest at the start of 2019, saying they wanted to restore security and fight terrorism. But the intervention set off a deadly ethnic war between the Tebu people and Arab tribes allied with Haftar’s Libyan National Army. The country has seen almost constant conflict since a 2011 Nato-backed revolt ousted Muammar Qaddafi, allowing extremists and traffickers to thrive. “The sheer number of casual-

ties suggests that Islamic State had definitely benefited from the contemporary situation to significantly recruit and build alliances. So this is a preemptive measure,” said Emad Badi, a Libya expert and nonresident fellow with the Middle East Institute. Africom said it conducted the strikes in coordination with the Tripolibased government. It has not released the identity of those killed and it’s unclear whether the group’s leadership in the country, which includes an Iraqi militant known as Abu Muath al-Iraqi and veteran Libyan commanders, were targeted or killed.

Chaos in the south The Islamic State’s affiliate in the Opec state is believed to number in the hundreds of members since a coalition of US-backed militias drove it out of the coastal city of Sirte in late 2016. It has regrouped in desert and mountain hideouts, launching several spectacular attacks, including a 2018 assault a the

Nat ion a l O i l Cor p.’s headqu a r ters i n Tr ipol i. There had been concerns in Libya that an offensive by Haftar to capture the capital in April, which has turned into a prolonged war drawing in foreign intervention on both sides, would allow the Islamic State room to expand. “The fact that both warring sides in Tripoli have attempted to coopt local groups is also another factor that may have created more grievances and marginalization locally, to Islamic State’s benefit,” Badi said. The conf lict between the groups in the south who are allied with Haftar or his rivals in the UN-backed Tripoli government has killed more than 100 people and displaced thousands from the southern town of Murzuq, where an air strike blamed on Haftar’s forces in August killed more than 40 people. But the extremists have been unable to leverage the conflict to take over any urban centers or impose their influence in populated areas. Bloomberg News

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Converge to speed up, lower Internet cost with domestic fiber gateway By Ashley Manabat Correspondent

LARK FREEPORT—The cost of Internet service will be considerably brought down with the opening of a new fiber-optic domestic gateway next year. This was in effect the statement of Dennis Anthony H. Uy, president and chief executive officer of Converge ICT Solutions Inc. (Converge), at the media forum “Balitaan,” organized by the Capampangan in Media Inc. (Cami) in cooperation with the Clark Development Corp. (CDC) at the Bale Balita here last Friday. “When I open the domestic gateway and no longer dependent on other carriers, I will bring down [the Internet cost and substantially increase its speed] to a gigabit port to the home or 1 gig per second to the home capacity,” said Uy. Internet speed by other service providers averages only a mere 7 Mbps (megabit per second). He said the undersea cable will be finished in 18 months. As part of its five-year $1.8-billion capital expenditure which he announced last year, Uy said Converge is now rolling out a $400-million or 1.2 million quartz (lines) to consumers nationwide. “These 1.2 million ports will be spread all over Luzon from Baguio to Pangasinan, Tarlac, Pampanga, Bulacan then to Quezon, Cavite and Sorsogon,” he said. “From Matnog it will cross to Samar. From San Juan, Batangas to Mindoro to Panay then Cebu,” he added. The fiber optic laying will be 1,800 kilometers of subsea cable with 20 landing stations throughout the country. Uy said the subsea cable is a $70-million project, while the investment per line to the consumers is about $200. “If that is 1.2 million ports at $200 optical distribution network, that will total to $240 million,” he said. “What I am doing is finishing the whole infrastructure of the province, and then going down to the towns and cities, and then to the barangays,” he added.

“So, this is bringing fiber to the homes in each province. This is what I do along the way,” Uy explained. He said the Philippines is not yet even 10 percent fiber-connected compared to China, which is 80 percent connected to fiber technology. “Our mobile subscription [subscriber base] is more than our population because most of us have two phones,” he said. He pointed out, though, that the technology has evolved now because video is killing the bandwidth. “Streaming is there, cloud is here, so you need to have a digital highway to be able to deliver the platforms,” he said. Uy said the solution is fiber-optic technology. “Fiber is the key solution because copper is obsolete,” he said. Uy explained that copper needs amplifiers to boost its signal. “So, if you deliver from point A to point B in 1 kilometer, you will need amplifiers,” he explained. “In fiber, from point A to point B, even with a hundred kilometers, you don’t need anything, you don’t need power because it is light,” he said. “This is the technology, in one fiber you can even split it into 120 lights and that’s called DWDM technology [wavelength],” Uy said. “One wavelength can carry 400 gigabytes so the capacity is unlimited; it is limitless because of this fiber technology,” he added. “In my Tarlac speech, I said copper is obsolete. So, don’t waste your money there.” Uy said Converge uses 100 percent fiber now. Converge Head End or Data Center (servers) which is located in this free port can now reach Cebu. It may be recalled that in 2012, this free port was the first to have a fiber-optic command center. Then CDC president and CEO and now Transportation Secretary Arthur P. Tugade has challenged Uy to show a proof of concept (POC) with the CDC command center. Uy said Converge was also instrumental in providing international media centers with live feed using fiber-optic technology.

PHL, Indonesia submit 2014 EEZ boundary accord to UN By Recto Mercene @rectomercene

HE Philippines and Indonesia have jointly submitted an agreement to the United Nations an agreement establishing the boundary between their overlapping exclusive economic zones (EEZs). The parties also submitted their respective instruments of ratification in New York on September 27, 2019. Foreign Affairs Secretary Teodoro L. Locsin Jr. and Indonesian Foreign Minister Retno Marsudi submitted certified copies of the 2014 agreement and ratification instruments to UN Undersecretary-General for Legal Affairs and UN Legal Counsel Miguel de Serpa Soares in simple ceremonies at the UN Headquarters in New York, the Department of Foreign Affairs (DFA) said in a news statement. The official joint submission made good on the commitment by both countries to do so, following a ceremonial exchange of ratification instruments by the two foreign ministers at the 52nd Asean Foreign Ministers’ Meeting in Bangkok on August 2, 2019, which effectively put into force the bilateral maritime border delimitation agreement. This commitment was confirmed by the delegation heads of both countries at the 10th Joint Permanent Working Group on Maritime and Ocean Concerns held in Yogyakarta from September 19 to 21, 2019. The agreement, which was first discussed in June 1994, was formally signed by the two states in May 2014 in Manila. It was ratified by President Duterte in February 2017, and by the Indonesian Parliament in April 2017. The Philippines completed its two-step domestic procedure in June, when the Philippine Senate concurred with the executive ratification. Both countries are parties to the 1982 United Nations Convention on the Law of the Sea (Unclos) and are entitled to EEZs

UN Undersecretary-General for Legal Affairs and UN Legal Counsel Miguel de Serpa Soares (left) congratulates Foreign Affairs Secretary Teodoro L. Locsin Jr. (right) on the official joint submission with Indonesia of a 2014 bilateral agreement establishing the boundary between their overlapping exclusive economic zones (EEZs), as Foreign Minister Retno Marsudi looks on at the UN Headquarters in New York on September 27, 2019. PHOTO COURTESY OF DFA

of 200 nautical miles. Under the convention, states have sovereign rights to explore, exploit, and conserve and manage natural resources within their EEZ. The Philippines and Indonesia have overlapping EEZs in the Mindanao and Celebes Seas, and in the southern section of the Philippine Sea in the Pacific Ocean. The meeting in Yogyakarta, chaired by Assistant Secretary for Maritime and Ocean Affairs Generoso DG Calonge and Indonesian Director for Legal Affairs and Territorial Treaties Bebeb AKN Djundjunan, also reaffirmed a bilateral commitment to work on the next step to implement the agreement, which is to finalize and jointly co-produce nautical charts.

FPI lauds signing of new PSAs to lower power generation charges

HE Federation of Philippine Industries (FPI) recently lauded the successful power-supply agreements (PSAs) signing for contracts to supply Meralco 1,200 megawatts and 500 MW of capacity effective December 26, 2019. FPI Chairman Jesus L. Arranza praised the signing of the additional contract capacity, saying “FPI welcomes the news of this much-needed additional power, to meet the growing demand of our country. We welcome the entry of any and all generation companies interested in contributing to the grid, in order to create a more secure power-supply situation for all industries, and ultimately, all consumers.” The group expressed support for a Department of Energy (DOE) circular requiring distribution utilities (DU) to procure power through competitive selection process. The CSP was administered by the third-party bids and awards committee (TPBAC) that was constituted pursuant to the DOE circular. The FPI stated “the organization believes the correct and proper process was indeed prescribed by the DOE, and we thank the government for its hands-on approach with the CSP. As the entire process was personally witnessed by representatives from the DOE, industries can rest assured that the results are fair, transparent, and most important, beneficial to all customers and consumers of power.” Arranza showed excitement regarding the impact that these new PSAs will bring to the cost of electricity, explaining that “today’s successful PSA signing will result in additional savings and, ultimately, least cost to consumers. We are confident that both the distribution utility and the power generators are committed to protecting the consumer, and we know the government fully backs these efforts, as well. These two straight successful CSPs are testament to that.” Arranza added that “the most important thing is that the consumers are benefiting. Industries can only hope that the remaining members of the sector

Wednesday, October 2, 2019 A9

will follow suit, as the CSP promises to deliver very positive benefits to the Filipino consumer. This is only the first step, but FPI’s vision for CSP is for more and more generation companies to join the process and participate in the bids.” FPI highlighted the terms of the PSAs, emphasizing that “the generator companies will also be liable to pay a fine if they are unable to deliver power, which will be used to reduce the generation cost to the consumers. The group believes that these new contracts will mean more consistent power supply for all businesses, which will positively impact and benefit industry operations, lower costs, consequently leading to more empowered consumers.” Reports show that because of these newly signed PSAs, consumers are projected to enjoy total savings of around P13.86 billion per year, or a rate reduction of P0.41 per kilowatt hour. “FPI will gladly support the power industry as it remains committed to signing partnerships that can deliver competitive electricity for all industries and customers. We laud the DOE for issuing the CSP circular and facilitating a fair and transparent bidding process to ensure least cost,” Arranza said. He added: “We support and encourage the development of more greenfield power plants, whether gas, renewable, coal and others to address future demand and avert a power-supply shortage.... FPI is looking forward to continuing its collaboration with the energy in-

dustry, government and other stakeholders to serve the country’s energy needs and bring the muchneeded additional supply to address the thinning power situation.”

The National Mapping and Resource Information Authority of the Department of Environment and Natural Resources and its Indonesian counterpart, the Geospatial Information Agency and the Hydro-Oceanographic Office of the Indonesian Navy, are expected to meet soon to determine the actual delineation of the sea points and geodetic lines between

the two countries. The agreement is expected to benefit both countries, economically and politically, by promoting more bilateral cooperation in order to advance the common interest of managing and preserving the resources in the EEZ and further strengthening maritime security cooperation between the two countries.

A10 Wednesday, October 2, 2019 • Editor: Angel R. Calso

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editorial

Go slow on hiking road users’ tax

he past two decades saw the exponential increase in the number of vehicles on Philippine roads. Apart from passenger cars and sports-utility vehicles, more trucks are seen traversing national and provincial roads. The improvement in the purchasing power of Filipinos guarantees that more vehicles will crowd city streets in the next five years, especially if the government fails to put up a mass transport system that will encourage people to ditch their cars. The motorization of the Philippines provided additional revenue for the government via the road users’ tax, which was imposed in 2000. That year, Republic Act (RA) 8794, or “An Act Imposing a Motor Vehicle User’s Charge on Owners of All Types of Motor Vehicles and for Other Purposes” was signed. The National Tax Research Center noted in a paper that the MVUC was imposed starting 2000 and was implemented on a staggered basis until 2004. The Land Transportation Office was tasked to collect this tax from motor vehicle owners nationwide. Under the law, the MVUC should be earmarked solely for road maintenance and the improvement of road drainage, installation of traffic lights and road safety devices, and for air pollution control. The road users’ tax is deposited in the Special Road Support Fund, Special Local Road Fund, Special Road Safety Fund and Special Vehicle Pollution Control Fund. From the tax collected, 80 percent is for the Special Road Support Fund; 5 percent, Special Local Road Fund; 7.5 percent, Special Vehicle Pollution Control Fund; and 7.5 percent for the Special Road Safety Fund. Nearly two decades after it was imposed, the MVUC hardly made a dent in improving mobility and the air quality in Philippine cities and provinces. Traffic caused by the increasing number of vehicles was exacerbated by bad road conditions and obstructions, such as illegal vendors and parked vehicles, as well as the lack of traffic lights and safety devices. Also, despite a provision that 30 percent of the Special Road Support Fund is for drainage maintenance on national secondary roads, floods continue to make life more difficult for Metro Manila residents. This is not surprising as the state-run Philippine Institute for Development Studies found that the identification, approval and implementation of proposed projects funded by the MVUC became problematic. Representatives from relevant agencies that should focus on formulating projects to be funded by the road users’ tax, such as vehicle pollution control, do not sit in committees. The guidelines for the use of the funds were also unclear, making it difficult to tap the MVUC. Despite this, some local chief executives have found a way to ease congestion following the marching orders given by the President to improve the traffic situation in their respective areas. One good example is the city of Manila where its current mayor has been able to clear roads of illegal vendors, making it easier for motorists to navigate the city. However, the Philippines’s capital city and other Metro Manila cities could have done more if only the MVUC collections were more accessible to them. The House of Representatives is planning to increase road users’ tax so it could be used for Universal Health Care and the Public Utility Vehicle Modernization Program. (See, “Higher road user tax seen to yield P89.4B in new revenue, up for House panel talks,” in the BusinessMirror, September 30, 2019). Before Congress approves proposals to hike the MVUC, we call on our lawmakers to look into the previous MVUC collections and explain to us why it had difficulties in its implementation. We also urge Congress and the national government to resolve the discrepancies in the collections before thinking of collecting more money from motorists who have to endure monstrous traffic all day long. Since 2005

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How to maximize SSS membership Aurora C. Ignacio

All About Social Security

ere are six simple steps to maximize membership with SSS and to ensure on-time processing of claims and to qualify for loan privileges at all times.

1. Make sure that your records are correct. Birth certificate issued by the Philippine Statistics Authority (PSA) is the primary document for claims processing. Make sure that your full name and date of birth in the birth certificate are the same with your SSS records. Age, for example, is a qualifying condition for retirement, so discrepancy in date of birth may cause delay in processing of pension. If there is a discrepancy or a change in your marital status, fillup a Member Data Change Request Form (SSS E-4) and submit it together with supporting documents to the nearest SSS office for correction. Members should also check their records in the My.SSS portal found in the web site (www.sss.gov.ph). 2. Update your list of beneficiaries. Got married? Had a new kid? Make sure that you accomplish and file the Member Data Change Request Form and submit this together

with the corresponding PSA-issued marriage, birth certificates. By doing so, you prevent any delay in processing of claims, especially death/ survivor benefits. The SS law provides a hierarchy of beneficiaries. Primary beneficiaries are the legal spouse and/or dependent minor legitimate, illegitimate, and legitimated minor children. Secondary beneficiaries are parents of the deceased member. Designated beneficiaries are declared beneficiaries of the deceased member based on SSS Form E-1 and E-4. What complicates processing of death benefits are those with multiple partners. Dependent children below 21 years of age are entitled to death benefits regardless of legitimacy. There are countless cases wherein the legal dependent spouse and the dependent children from another relationship receive the monthly pension. 3. Make sure that you only have

Nowadays, it is easy to check records with SSS. Once registered to My.SSS portal in the web site, a member can download the SSS mobile app on his mobile phone. Members should be vigilant in keeping their records with SSS accurate and updated at all times. This is the only way that one can maximize membership to the pension fund and enjoy its seven benefits and loan privileges. one SS number. If you have multiple SS numbers, submit a request for cancellation of multiple SS numbers at any SSS branch. SSS will consolidate all records and contributions in one SS number. This takes time, so it is important to check your membership records now. 4. Pay your SSS loans. Unpaid loans incur penalties. If the member’s employer fails to remit a loan payment to SSS, the member must submit an Affidavit or Sinumpaang Salaysay to file a formal complaint against his employer. If the loan payments are not yet posted in the system, the member can request for a copy of salary loan collection list from his employer as proof of loan payments deducted from his salary and remitted to SSS. 5. Monitor contribution payments of employers. Non-remittance of employees’ SSS contributions is a violation of the SS law and

Creating a better world for all Filipinos

By Babylyn P. Tumbaga

cience is the foundation of all technological advances. We all enjoy the convenience brought about by advanced gadgets like mobile phones and laptops. We owe these innovations and inventions to science practitioners: mathematicians, inventors, engineers, computer scientists, to name a few. As a developing country, the Philippines is in dire need of such people to ensure progress. Unfortunately, science education appears to be an area where we struggle, as gleaned from the low number of students who are majoring in the sciences in our universities. Currently, the country only has 189 scientists per million population, whereas the ideal ratio is 380 per million population. As educators, we can’t stress enough the importance of science education. But before we can produce world-class inventors and scientists in our midst, it is important first to have teachers competent enough to give students the right

training and the flexibility to allow them to move into careers in numerous scientific disciplines. With all kinds of information available on the Internet, young learners should be more inspired to discover scientific knowledge. Educators and parents should join hands to encourage students to emulate youngsters who have been trying to invent and develop gadgets by joining local and overseas robotics competitions. This is just one way for us to help fill the gap in foundational understanding of science among young students. Ideally, teaching the scientific method to students involves teaching them how to think, analyze and

solve problems. This will serve as their foundation to make informed decisions. Such skills are important in every aspect of a student’s education. This will also help them in choosing careers. Teachers with strong scientific knowledge are more likely to influence students and even inspire them to take science courses. Only competent science teachers can provide students with the necessary background knowledge and skills that will allow young learners to explore their world and discover new things. Science is a challenging subject, containing activities like hands-on laboratory experiments. However, while such activites are important to strengthen the foundation of students’ education, educators have the responsibility to impart to their students the idea that science is not just about developing new technology and inventions. Science is about a whole lot more. It is a way of helping students grow

those convicted shall pay fines and may be imprisoned from six years and one day to 12 years. Register to My.SSS found in the SSS web site to see your SSS records anytime, anywhere. 6. Membership does not expire. Once a member, always a member. Many overseas Filipino workers were active members of the pension fund when they were locally employed but often wonder where their past contributions went. Contributions to SSS are intact and a member can always continue paying premiums at any time. Nowadays, it is easy to check records with SSS. Once registered to My.SSS portal in the web site, a member can download the SSS mobile app on his mobile phone. When visiting the branch, Self-Service Express Terminals are available to check personal records so there is no need to talk to a frontline staff. For simple transactions like asking for loan application status, Text SSS is available. Members should be vigilant in keeping their records with SSS accurate and updated at all times. This is the only way that one can maximize membership to the pension fund and enjoy its seven benefits and loan privileges. Aurora C. Ignacio is SSS president and chief executive officer. We welcome your questions and insights on the topics that we discuss. E-mail mediaaffairs@sss. gov.ph for topics that you might want us to discuss.

by discovering new knowledge that they can use for their own advancement and for the country’s progress. Nationa l leaders, however, must remember that the level of the country’s scientific achievement depends on the quality of our science teachers. For most educators, there’s a need for continuing education. With so many idealistic educators in our public schools, government can help them by providing an innovative continuing professional development program. Equipping our educators with adequate knowledge and understanding of science and technology will help ensure the success of our national science education program. That’s the only way to go if we want to have more scientists in the future who will help create a better world for all Filipinos. The author is Teacher 3 at Cataratan Integrated School in Allacapan, Cagayan.

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Putin’s costly protectionism experiment is a lesson for Trump

Dear Mocha

By Áine Quinn | Bloomberg Opinion

O see how a protectionist trade war might backfire, look to Russia. Five years into Vladimir Putin’s effort to protect Russian farmers from foreign competition and penalize the US and Europe for sanctions imposed after his 2014 annexation of Crimea, the results are in: a sharp rise in prices, an extra $6.9 billion a year spent on food, and limited benefit in terms of increased production.

“The lesson from this sanctions and isolation experience for others is don’t do it,” said Elina Ribakova, deputy chief economist at the Institute of International Economics. “A large, complex emerging economy, like Russia, can still benefit from a lot of productivity spillovers and is better off being integrated in global markets.” Putin’s strategy has become a textbook case of how trade barriers can ultimately backfire as debates intensify elsewhere about whether tariffs are a good tool to fix economic imbalances. “Russia seems to be ahead of the curve with all the protectionist measures,” said Ribakova. In the US, Trump promised to correct what he considered decades of failed policies that enabled China’s economic rise and allowed trade deficits with nations, including Germany, to balloon—both to the detriment of American manufacturers. Last year, he started putting tariffs on Chinese imports, spurring cycles of retaliation and threats of higher levies. The resulting uncertainty has inhibited investment, forcing the Federal Reserve to cut interest rates to cushion against a sharper slowdown. In Russia, while farm production has grown since the Kremlin imposed the limits, some of the biggest winners were sectors not significantly affected by the restrictions, while others benefited from investments that predated them. In the hardest-hit areas, the limits boosted growth by only a tenth of a percentage point, according to ACRA, Russia’s local credit-rating agency. That wasn’t enough to offset the negative impact from the higher costs to consumers. To be sure, Russia’s goal in imposing the so-called antisanctions wasn’t overt protectionism, but geopolitics. State television regularly showed officials bulldozing contraband produce from the US and Europe. But officials later admitted that protecting the domestic agricultural sector was a key goal of the measures. The Kremlin had for years been hoping to rebuild agricultural production that had collapsed along with the Soviet Union in the 1990s. The restrictions have been a boon to some producers in Russia. “Our cheese sector was reborn thanks to the embargo,’’ said cheesemaker Oleg Sirota, adding that cheap government loans and subsidies also were a big help. “It’s like

the gold rush in the wild West.’’ But for now, falling living standards are offsetting the modest gains in domestic production— ACRA estimates that the embargo knocked off 0.2 percentage points of GDP from 2014 to 2018. “We switched to imported goods from other countries. This is exactly why we observe the price increase,” said Natalya Volchkova, professor at Moscow’s New Economic School. “It’s like consumers are paying more to increase production in sectors that have low productivity,” Prices for goods impacted by the embargo like cheese and meat increased more than the average price increase for consumer goods, Volchkova said. That adds up to an extra 3,000 rubles ($46) a year per person, the equivalent of a 5-percent increase in food expenditure for those on low incomes. Her calculations exclude the effect of the sharp drop in the ruble in 2014, which further fueled inflation. Total farm production has increased over the five years, but in some sanctioned areas, growth rates were actually higher before the restrictions were imposed, according to KPMG. “The Russian state forced the population to pay more for food, often of lower quality due to limited competition,” KPMG’s head of agribusiness in Russia Vitaly Sheremet says. Among the beneficiaries of the measures have been Russian trading partners not covered by the restrictions who’ve seen exports boom. Belarus, for example, has seen an explosion in reported production of everything from cheese to oysters. While some imports have been substituted with goods from other countries, plenty of European food get past the ban. “A lot of production from Moldova, Ukraine, Poland, for example, goes through Belarus.” Sheremet says: “It’s common knowledge that food from countries on Russia’s sanction list gets into Russia through these channels.” So far, Russia’s antisanctions haven’t forced the European Union and the US to roll back their penalties and while the Kremlin isn’t backing down either, it’s not broadening its own restrictions. “The proof is in the pudding,” Ribakova says. “You haven’t seen the Russian authorities using the sanctions any more or expanding them.” With assistance from Anatoly Medetsky, Aliaksandr Kudrytski and Brendan Murray.

Susan V. Ople

Scribbles

ou are one of the lucky ones. This would be your third stint in an appointive position, while others continue to dream of being regularized after years of anonymity in government as a contractual employee. Your first appointment was as a member of the Movie and Television Review and Classification Board in 2017. The second appointment bestowed upon you was assistant secretary of the Presidential Communications Operations Office (PCOO). After a string of controversies, you tendered your resignation from this office on October 3, 2018. Last Monday, your name was on a list of new appointees, as deputy administrator of the Overseas Workers Welfare Administration. As a labor advocate, I am quite familiar with OWWA. You and I count your latest boss, Administrator Hans Cacdac, as among the best of the best, when it comes to caring for our migrant workers. OWWA is also blessed to have the most hardworking and dedicated professionals you can find in government. One of them is OWWA Repatriation Division Director Jo Hapal. A few days ago, her brother passed away due to lung cancer, and yet, even while deep in mourning, you will find Jo at her desk attending to requests for repatriation. What can be more justifiable to be absent from work than the death of a loved one? Yet, there she was,

attending a meeting and making arrangements for the repatriation of 100 distressed overseas Filipino workers (OFWs) from Kuwait on Sunday. You will also get to meet Hector Cruz, our welfare attaché assigned to look after our workers in Libya. Hector is not one to shy away from a challenge, even at the risk of his very own life. He has been deployed to Syria, Iraq, and Libya, and was first to arrive to ensure the safety of our migrants when a massive earthquake hit a remote town in Italy. Always cool and with a sunny disposition, Hector is an asset in every crisis. Be sure to listen to his stories, Mocha. You will learn a lot from him. And, of course, we have the one and only, Hans Cacdac. He has his detractors, some of whom find him too

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resident Donald J. Trump warns that removing him from office would “cause a civil war-like fracture in this nation from which our country will never heal.” He is quoting Robert Jeffress, a prominent evangelical supporter, who also says that Democrats are trying to remove Trump from office because they know they cannot defeat him in an election. But this effort, Jeffress predicts and Trump affirms, will fail. Trump’s tweet storm fell on one truth: Impeachment is highly unlikely to lead to his departure from

the White House. The reason he is right about that is, however, the reason Jeffress and he are wrong about

pro-OFW. Those detractors mainly belong to the recruitment industry. As a son of an OFW, Cacdac has done a lot to improve the image of OWWA. Labor Secretary Silvestre Bello III can attest to the fact that the OWWA administrator is a one-man command center, fielding urgent requests for rescue and repatriation through group chats and text messages. This is your new family in government, Mocha. Treasure them, please. I know that you can identify with our overseas workers because you worked as an entertainer for one year in Doha, Qatar, as the founder and leader of Mocha Girls. But things are different now; expectations are higher. It is an open secret that you are close to President Duterte and Sen. Bong Go. Your performance will reflect on their decision to appoint you the third time around. Having worked in the overseas employment for 15 years, I can attest that our OFWs can be your best supporters and also your most vocal critics. While they identify with you as a former OFW, they will also want more than just the usual hugs and “selfies.” They will expect you to be knowledgeable about the programs and operations of OWWA. Since their contributions to the OWWA Fund have reached P19.4 billion, they would also expect you to guard these funds zealously, with full devotion to transparency. You acknowledged the weight of this new responsibility in our phone conversation yesterday. You said, and I quote: “Sobrang excited po ako. Even before, marami nang lumalapit sa akin

na OFWs para humingi ng tulong. Familiar na rin po ako sa OWWA dahil tuwing may biyahe si Presidente at may mga OFWs na lumalapit, kay Admin Hans ko sila inilalapit. Mabigat po na responsibilidad ito.” Well, as deputy administrator, it would be your job to help Cacdac in responding to all the SOS calls from OWWA members all over the map. Talk about role reversal. You have the absolute best mentor in Hans Cacdac. Please don’t go over his head even when you may easily find ways to do so. Respect him as we all do. I appreciate your humble response when I asked about how you intend to redeem yourself as a public servant in this new role. “Lahat naman po tayo a work in progress. Sabi nga po ni Senator Bong Go, pambihira ang pagkakataon to serve the country. I will do my very best po to serve our OFWs.” As I’ve said, you are one of the lucky ones. Those who think of you in the harshest way may have their reasons to do so. But hey, here’s to a new beginning. Get to know the policy ropes. Follow and support your boss, Cacdac, and, of course, Bello, in their efforts to save OWWA from extinction, as a possible casualty of pending legislation seeking to create a new OFW department. I wish you well, Mocha. Take good care of our OFWs and be proud to be part of team OWWA. Susan V. Ople heads the Blas F. Ople Policy Center and Training Institute, a nonprofit organization that deals with labor and migration issues. She also represents the OFW sector in the InterAgency Council Against Trafficking.

Intellectual-property rights can help Filipino businesses succeed in the global economy

By Philip Stevens

his week saw the launch in Manila of a new report coauthored by five think tanks from Asean looking at the important role of intellectual-property rights (IPRs) for economic progress in the Philippines and the region. The launch event was honored by the presence of Secretary Ramon Lopez of the Department of Trade and Industry and Director General Josephine Santiago of the Intellectual Property Office of the Philippines (IPOPHL). Speakers at the event applauded the government recognizing that moving from a manufacturing and agriculture-based economy to knowledge economy is the key to sustainable economic growth. The government’s commitment to innovation can be seen in, for example, the passage of 2019’s Philippines Innovation Act, which aims to “remove obstacles to innovation by suppressing bureaucratic hurdles” and establishing a National Innovation Council. Such pro-innovation initiatives have helped the Philippines jump 19 places in Global Innovation Index 2019 to 54 out of 129 countries—a significant achievement. But for the Philippines to become a true innovation leader, more needs to be done in the protection of IPRs. Success here will empower local entrepreneurs, drive investment and ignite economic growth.

The Philippines hosts increasing numbers of large, knowledge-intensive multinational businesses. This knowledge-rich business community includes software giants, chemicals, technology developers and biopharmaceutical companies. Companies like these in the Philippines bring huge opportunities for local entrepreneurs and start-ups. Multinational companies often struggle to enter markets and address local problems due to their lack of agility and local knowledge. Collaboration with local businesses can be the key to success. For this to work, local businesses must confidently speak the language of intellectual property—particularly if they wish to sell their own ideas to be commercialized and scaled by large multinational companies. Patents, trademarks, copyrights and other forms of intellectual property (IP) are the instruments by

Why Trump’s removal wouldn’t lead to a ‘civil war’ Ramesh Ponnuru

Wednesday, October 2, 2019 A11

everything else. Two-thirds of senators would have to vote to convict Trump in an impeachment trial to end his presidency. That high bar explains why no president has been removed from office that way, and only one has resigned rather than face impeachment and a Senate trial. All the Senate’s Democrats and independents, and 20 of its Republicans, would have to vote against Trump for this to be the first-such presidential ouster. To illustrate the challenge, assume that the senators line up based on their ideological records, with the most moderate Republicans abandoning Trump and the most conservative ones sticking by him. In that case, the 67th vote would, likely, have to come from Jerry Moran of

There’s a lesson here for Trump’s opponents, too. If they want impeachment to be followed by removal, they are going to have to persuade millions of voters who are currently in his corner. Impeachment can’t be seen as an act of culture-war vengeance—a judgment on voters for being stupid and racist enough to choose Trump—if it is to succeed. Kansas. Trump would have already had to lose not only critics, such as Susan Collins and Mitt Romney, but also Majority Leader Mitch McConnell and some-time defenders Lindsey Graham and Roger Wicker. Removal could not happen, in oth-

which multinationals trade with local companies. Technology transfer and licensing are the most efficient ways that a promising local company armed with a great idea for the region can follow the traditional Silicon Valley model— introduce an idea, grow the business and then get bought by a far bigger company. The Philippines’s small businesses are sitting on a rich pipeline of technology, brands and other knowledge assets that could thrive internationally if they are able to exploit their IP. Take Axis Knee Systems, a knee replacement technology that enables knee replacements to be performed at half the price of existing alternatives. This Filipino innovation allows a general orthopaedic surgeon to perform a knee replacement without the use of x-ray, after completing a short training workshop. The company doesn’t have the scale to manufacture and distribute globally. But ownership of patent rights means it can license its technology to foreign companies that do, with the royalties coming back to its Filipino inventors. It is a Filipino success story, made possible by IP. The Philippines is rich with innovation and creativity. Its entrepreneurs need to value their own intellectual property and use it to

grow and sell abroad. In turn, the country can move further into the global economy, attract more foreign investment and trade more readily overseas. This is the key to sustainable economic growth. The government has taken the protection of IPRs more seriously in recent years, empowering the IPOPHL to raise awareness of the importance of IP among small enterprises, and to make it easier for inventors to register and protect their rights. Yet, more needs to be done. The Philippines still sits in the bottom third the 2019 Global IP Index, alongside countries such as Saudi Arabia and South Africa—and well behind regional leader Singapore. Online piracy and counterfeiting levels are still too high. It can take up to four years to examine a patent, and recent suggestions by the government that it will make it easier to confiscate medicine patents send out confusing signals to investors. Despite this, there is great potential in the Philippines if it continues to improve its IP system. IP is the rocket fuel for business growth, overseas expansion and significant value creation, and the key to the knowledge economy.

er words, without an extremely broad national consensus that Trump has to go. That would have to include a significant percentage of Americans who voted for Trump in 2016. The scenario Jeffress brings up, in which Trump retains so much support that he is poised to win the next election but Congress removes him from office to keep it from happening, is all but impossible. The pastor says that impeachment and removal would “negate the votes of millions of Evangelicals.” Leaving aside the fact that removing Trump would make an evangelical Christian, Mike Pence, president, the argument again ignores the constitutional structure of impeachment. If 67 senators are prepared to vote for something, it almost certainly would

mean that many millions of evangelicals approve of it. Trump’s supporters would need to have dwindled to a hard core, and even some of them would be able to see how badly outnumbered they had become. There’s a lesson here for Trump’s opponents, too. If they want impeachment to be followed by removal, they are going to have to persuade millions of voters who are currently in his corner. Impeachment can’t be seen as an act of culture-war vengeance—a judgment on voters for being stupid and racist enough to choose Trump—if it is to succeed. It probably won’t. The possibility that Trump’s removal will be followed by anything like a civil war, though, is one thing we need not worry about.

The author is the Executive Director of Geneva Network, a UK-based research organization focusing on international innovation and trade policy.

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PHL manufacturing is still region’s 2nd best performer

By Bianca Cuaresma

@BcuaresmaBM

HE Philippine manufacturing sector continued to be the second best performing manufacturing sector in the region in September this year, a report from an international think tank showed.

International think tank IHS Markit released a report on Tuesday saying operating conditions in the manufacturing sector of the region continued to deteriorate in

September this year. For the Philippines, its Purchasing Managers’ Index (PMI) fell fractionally from 51.9 in August to 51.8 in September, signaling a moderate

and weaker-than-average improvement in operating conditions across the manufacturing sector. The reading was the lowest recorded since June. The PMI is a composite index aimed to gauge the health of the country’s manufacturing sector. It is calculated as a weighted average of five individual subcomponents. Readings above the 50 threshold signal a growth in the manufacturing sector while readings below 50 show deterioration in the industry. Despite the slowdown, the Philippines was still second among seven countries monitored by the think tank in terms of manufacturing performance.

Myanmar led the pack in August, with a PMI of 52 during the month, unchanged from the previous month. This performance snapped Myanmar’s 10 consecutive months of PMI improvement. This is followed by the Philippines’ 51.8 PMI in September. Thailand ranked third with a PMI of 50.6 following an improvement in operating conditions in September. Vietnam’s headline figure of 50, meanwhile, was the weakest for over three-and-a-half years. Meanwhile, operating conditions in Indonesia continued to deteriorate, posting its second-lowest headline PMI figure of 49.1 since July 2017. See “Manufacturing,” A2

Confed bucks easing of sugar imports limits By Jasper Emmanuel Y. Arcalas @jearcalas

HE Confederation of Sugar Producers (Confed) stood firm against the easing of restrictions on sugar imports, saying this would displace millions of farmers and undermine government’s efforts to improve the sector’s productivity. Confed Spokesman Raymond Mon-

tinola also said plans to liberalize the industry are ill-timed as the government has just started pouring funds on the mechanization of sugar farms. Montinola said these efforts would go to waste if the government will pursue the liberalization of the sugar sector right away. “To be faced with liberalized importation at this point will lead to the demise of the sugar industry and will

LOW PRESSURE AREA 1,025 KM EAST OF LEGAZPI CITY as of 4:00 pm - October 1, 2019

undermine all efforts of the Duterte administration to help the industry,” he said in a statement released on Tuesday. Confed issued the pronouncement after the Department of Finance (DOF) revealed its formal proposal to liberalize the sugar industry, just like what the government did to the rice sector. The DOF is keen on removing the quantitative restrictions on sugar and just replacing these with tariffs. The

Sugar Regulatory Administration (SRA) regulates the entry of the imported sweetener, such that it allows the purchase of sugar from abroad when there’s a shortfall in domestic production. “For the past eight years, quantitative restrictions imposed on sugar imports raised the wholesale price of refined sugar to 235.8 percent above the export price of Thailand and 393.2 percent above FAO [Food and Agriculture Organization] reported prices,”the DOF said. “This means that consumers and downstream industries have been paying more than twice [or thrice using FAO prices] the global price for the commodity,” it added. However, Montinola said sugar farmers in countries like Thailand are “highly subsidized,” hence, they can afford to export their surplus at a much cheaper price. He also said neighboring Southeast Asian countries have measures in place to protect their local farmers despite their relatively liberal sugar industries. “Thai sugar is cheaper in the world market, but their domestic sugar price does not differ much with our own local prices,” he said. “It is the same with our neighbors, Malaysia and Indonesia, that have tight government policies in regulating the entry of imported sugar to ensure that it does not compete and kill their own local sugar industries,” he added. Montinola said the local sugar industry is trying its best to improve productivity and reduce production cost. “We hope that our economic managers will see and feel this movement on the ground, instead of looking at ways to allow imported sugar into the country that will kill another agriculture industry as it has with rice that has resulted in a great loss to Philippine agriculture,” he said. “Our country has always been known as an agricultural country. Do we want to really become a net importer of basic commodities when we can be self-sustainable and independent in producing [these products]?” Montinola added.

READ AND WEEP: ADB SAYS SHORT, CHEAPER TRAVEL GOOD FOR ALL By Cai U. Ordinario @caiordinario

N an ideal world, good quality of life can be defined by shorter travel time and cheaper mobility costs, according to the Asian Development Bank (ADB). In his opening remarks at the ADB’s Urban Transport Forum 2019, ADB Vice President Bambang Susantono said travel time should only be 30 minutes and the cost should be a maximum of 10 percent to 20 percent of household incomes. Susantono said citizens should have access to good quality public transport. These facilities should be no more than 500 meters from their houses, schools or work. “Access and mobility have a profound impact on the quality of people’s life,” Susantono said. “Asian cities need a new paradigm in urban transport. This must support equitable access and mobility and do so with the minimum impact on the environment, while being inclusive and safe.” In order to achieve this, Susantono said ADB’s recent report, titled “Meeting Asia’s Infrastructure Needs,” estimated that infrastructure requirements across the region amount to $26 trillion by 2030, of which $8.4 trillion is required for transport. Susantono said urban transport needs are estimated to be as much as one-third of transport or over $200 billion a year. He said in order to contribute to improving urban transport, ADB is financing projects such as the Malolos Clark Railway project in the Philippines.The project aims to link Metro Manila, one of Asia’s largest megacities, to smaller urban areas to the North and South of Luzon. The new rail link will open up New Clark

City, as well as improve access to the Clark International Airport and its industrial zones within the Clark Special Economic Zone. ADB, Susantono said, has also financed similar projects in China and Thailand. He said these projects have also opened up discussions about land value capture. He said a recent ADB study said land value capture can aid the development of metro rail, in megacities specifically Bangkok, Jakarta and Manila. Land value capture, Susantono said, presents a “a win-win-win situation for cities.” The first win helps finance costly but essential urban transport; the second ensures the financial sustainability of these projects; and third, frees up public funding for other investments. “We are talking about hundreds of billions of dollars per year as urban transport investment needs in Asia and the Pacific. No single financing source comes even close to meeting such a need,” Susantono said. Susantono said infrastructure technologies and financing will all be discussed at the Urban Transport Forum, which opened on Tuesday. He said the discussions at the forum will play a pivotal role in sharing knowledge and experience as well as providing support and future assistance to address the challenges we are all facing. The ADB believes, it is not financing capacity or resources alone that make the difference. A user-friendly focus, considering transport as a service, and ensuring inclusive, affordable solutions all contribute to citizens having a positive view of urban transport. The Urban Transport for Livable Cities Forum will examine actual experience of Asian cities in developing and implementing urban transport solutions in recent years.

SBMA shutters cigarette maker for tax dodging By Henry Empeño

Correspondent

UBIC Bay Freeport—The government campaign to flush out illegal operations in this free port gained headway with the closure of a cigarette manufacturer here for tax evasion. Subic Bay Metropolitan Authority Chairman and Administrator Wilma T. Eisma said SBMA padlocked Qiu Tobacco Industrial Co. Ltd. Corp. following an inspection of its facilities which yielded cigarette products without excise tax stamps. Eisma and Bureau of Internal Revenue (BIR) Region 3 Director Ed Tolentino led a joint SBMA-BIR team on Friday that swooped down on six cigarette manufacturers at the Gateway Park here to flush out those involved in the circulation of untaxed and fake cigarette products in the country. Inspection showed that Qiu Tobacco, which produces cigarette brands like Belmont, Navy and D&B, did not have excise tax stamps on their soft packs. Upon investigation by the SBMABIR team, a Chinese national identified as caretaker of the Qiu facility said the cigarette brands were sold outside the country. However, the inspectors noted that the cigarettes had markings indicating they were intended for the Philippine market. Tolentino said this was a violation of Section 263 of the National Internal Revenue Code, which

prohibits the possession or removal of articles subject to excise tax without payment of tax. The BIR official added that the lack of stamps meant the firm was not paying the proper tax for each pack that was manufactured and sold. The excise tax is a duty that must be levied on manufactured goods at the moment of manufacture, rather than at sale. Eisma said that the Qiu representative also was not able to present a copy of the firm’s Certificate of Registration and Tax Exemption (CRTE), which the SBMA requires to be displayed in company premises. A check with the SBMA Business and Investment Group indicated that Qiu Tobacco was issued a CRTE on December 5, 2018. The permit was good until May 31, 2021. Eisma said, however, that because of its failure to pay excise taxes, the company will be closed until further notice from the BIR. The SBMA chief also warned business locators here to pay the proper taxes to ensure smooth operations in the free port. Last week, the BIR also shut down the facilities of the Philippine offshore gaming operator Great Empire Gaming and Amusement Corp. here, along with its other offices in Quezon City, for tax evasion. Eisma added that if a company complies with the law and the rules and regulations of the agency, the SBMA will protect that company. “If not, we will prosecute to the full extent of the law,” Eisma said.

Police,DILG asked: Guard Mindanao against ASF

HE Mindanao Development Authority (MinDA) sought the help of the Department of the Interior and Local Government (DILG) and the Philippine National Police (PNP) in strictly enforcing the total ban on pork products from areas struck by African swine fever (ASF). In a letter to Interior Secretary Eduardo Año and PNP chief Director General Oscar Albayalde, MinDA Chairman Emmanuel F. Piñol said the request was made “with urgency” following reports of hogs, pork and processed pork products still being shipped to Mindanao and the Visayas from ASF-hit areas in Luzon and other countries.

“This continues in spite of the issuances of executive orders made by Mindanao LGUs [local government units] led by Davao City Mayor Sara Duterte-Carpio imposing a temporary ban on the entry of hogs, pork, pork products and feed materials into Mindanao,”said Piñol in his letter. The former agriculture chief posted a copy of the letter he sent to the DILG and PNP chiefs on his Facebook account on Tuesday. Piñol said the strict enforcement of the total ban will avert the entry of the fatal hog disease in southern Philippines. “Since local government units lack the manpower to enforce the ban, the

Mindanao Development Authority is making representation on their behalf to appeal for support from the Department of the Interior and Local Government and the PNP,” he said. Piñol said the involvement of policemen will ensure stricter implementation of the ASF quarantine protocols, noting that policemen and army units were also engaged during the avian influenza (AI) outbreak in Pampanga and Nueva Ecija in 2017. “The involvement of policemen and army soldiers helped government in preventing the spread of AI which was placed under control in just one month,” he said. Bernadette D. Nicolas

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In the ad material of Notice of filing of Application for Alien Employment Permits published on September 20, 2019, the company name and address of Mr. Irmawan, and Mr. Tivanny under the GLOBAL B2B CONSULTANCY, INC. should have been read as LEEKIE ENTERPRISES, INC. located at 8/F Techzone Bldg., 213 Sen. Gil Puyat Ave., San Antonio, 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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SMC: Traffic on Slex, Skyway will be ‘better’ by December By Lorenz S. Marasigan @lorenzmarasigan

AN Miguel Corp. (SMC) said on Tuesday that traffic along its expressways will be a bit better starting December, as it completes the preliminary heavy works for the Skyway System’s P10-billion extension. In a statement, Skyway O&M Corp. (Somco)

President Manuel Bonoan said his group aims to finish the initial works for the Susana extension by the end of November, just in time before the Christmas rush. Motorists, he said, can start using the third lane along the South Luzon Expressway (Slex) that is currently closed due to preliminary works for the project. The closure has been blamed for massive traffic jams the past several days.

“We have to be aggressive with the schedule as it is our best ‘window’ to complete preliminary road works before peak traffic season,” Bonoan said, explaining that the “present window” gives the company a fighting chance to finish the project by early December of 2020. The P10-billion extension is part of the first phase of the Skyway extension master plan that aims to decongest traffic along the

Slex and Skyway. “If nothing is done, traffic is expected to worsen as current vehicle volume of about 1 million cars increases every year—especially with the growth in residential developments and business locators in Cavite, Laguna, Batangas,” Bonoan said. Under the plan, both the northbound and southbound lanes of the Skyway will be extended all the way to Susana Heights. This will give mo-

torists direct access to and from the MuntinlupaCavite Expressway (MCX). This will add an estimated 4,500 vehicles per hour capacity to the northbound expressway, and around 3,000 vehicles capacity per hour, southbound. Bonoan added that the second and third phase of the extension program will involve expansion of the Bicutan, Sucat and Alabang-Zapote Road

access points, to decongest traffic in those areas. “Again, our aggressive target to complete Phase 1 is by December next year. There are possible causes of delay: right-of-way issues, moving of pipelines, power lines, and the like. However, with the leadership and full support of the government, we’re confident we can still fast track and complete it in a relatively shorter period of time,” Bonoan said.

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PSE STOCK QUOTATIONS

October 1, 2019

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

ASIA UNITED BDO UNIBANK BANK PH ISLANDS CHINABANK EAST WEST BANK METROBANK PB BANK PHIL NATL BANK PSBANK RCBC SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL FERRONOUX HLDG MEDCO HLDG MANULIFE NTL REINSURANCE SUN LIFE VANTAGE

55.9 143 92.1 25.05 11.94 67.75 12.8 43.55 57.15 26.2 190 59 1.11 18.5 5.14 0.41 755 0.91 1860 1.09

56 143.5 92.25 25.1 11.98 67.85 13 43.6 58 26.3 190.8 59.05 1.14 18.66 5.2 0.42 780 0.92 1880 1.15

54 143 92.3 25 11.92 68.4 13 43.55 60.65 27 195.8 59.1 1.11 18.3 5.2 0.42 780 0.94 1855 1.12

56 144 92.3 25.2 11.98 68.65 13 43.7 60.65 27 195.8 59.95 1.11 18.66 5.3 0.42 780 0.94 1860 1.15

54 141 91 24.95 11.9 66.95 13 43.55 58 26.3 188.9 59 1.11 18.3 5.12 0.415 780 0.91 1855 1.12

56 143.5 92.1 25.05 11.94 67.75 13 43.6 58 26.3 190 59 1.11 18.66 5.2 0.415 780 0.92 1860 1.15

2120 1042010 1721280 149300 253100 2279460 9500 140600 1980 4700 994900 50040 13000 400 118200 390000 10 88000 450 90000

117586 148729296 157747666 3733955 3019172 154716725 123500 6130865 115025.5 124365 189202095 2953336 14430 7428 610226 162300 7800 80700 836975 101920

INDUSTRIAL

-550 4860050 8381100 225015 -948938 -41578309 -1474015 -41401043 -1052098.5 -3150 -0 -

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

38.3 0.241 24.3 80 368.4 20 5.02 4.28 2.25 10.84 32.5 7.33 16 15.68 90.5 17.16 14.18 5.66 8.86 7.1 88.85 0.67 46.05 220 8.3 13 0.189 1.73 11.38 1.97 5.05 2.35 0.124 149.9 1.14 68 75 2.46 6 15.16 10.8 14.38 18.28 10.1 1.03 1.06 2.05 5.39 3.31 5.3 30.75 2.41 8 1.5 1 8.52

38.45 0.247 24.8 80.05 369 20.1 5.03 4.4 2.26 11.06 32.55 7.35 16.72 15.88 109 18.9 14.2 6.14 8.87 7.11 89.1 0.68 47.3 220.2 8.89 13.1 0.203 1.75 11.4 1.98 5.14 2.45 0.126 150 1.15 69.95 78.45 2.47 6.15 15.6 10.9 14.48 18.5 10.16 1.07 1.07 2.08 5.4 3.53 5.38 31.6 2.42 8.02 1.54 1.01 8.54

38.35 0.242 24.55 80.05 365 20.25 5 4.28 2.34 11.08 32.4 7.45 16 16 108.9 18.5 14.2 5.9 8.9 7.1 91 0.67 47.5 222 8.26 13.18 0.189 1.71 11.42 1.97 5.1 2.33 0.124 155.3 1.14 68.05 75 2.61 6 15.22 10.74 14.5 19 10.2 1.09 1.02 2.03 5.35 3.31 5.31 31.6 2.52 8 1.51 1.03 8.58

38.65 0.247 24.8 80.1 369 20.25 5.02 4.28 2.36 11.08 32.6 7.45 16 16.02 125 18.9 14.2 5.9 8.9 7.18 91 0.68 47.6 222.8 8.26 13.18 0.189 1.77 11.6 2.11 5.1 2.33 0.124 155.4 1.16 70 75 2.62 6 15.6 10.92 14.5 19 10.2 1.09 1.12 2.05 5.4 3.53 5.43 31.6 2.53 8.02 1.55 1.03 8.68

38.3 0.241 23.8 80 363.6 19.94 4.99 4.28 2.22 10.86 32.4 7.35 16 15.68 108.9 18.5 14.02 5.9 8.84 7.06 88.8 0.66 46.05 219.6 8.26 13 0.189 1.65 11.38 1.91 5.1 2.33 0.124 149.3 1.11 68 75 2.44 6 15.14 10.3 14.14 18.26 10.04 1.02 1.01 2.03 5.35 3.31 5.3 31.6 2.42 7.96 1.51 1.01 8.23

38.45 0.247 24.8 80 369 20 5.02 4.28 2.26 11.06 32.5 7.35 16 15.9 109 18.9 14.18 5.9 8.87 7.11 89.1 0.68 47.4 220 8.26 13 0.189 1.73 11.4 1.98 5.1 2.33 0.124 150 1.15 68 75 2.47 6 15.6 10.9 14.48 18.5 10.1 1.03 1.07 2.05 5.39 3.53 5.3 31.6 2.42 8 1.55 1.01 8.52

841000 360000 1505600 1639570 181040 2433000 834600 3000 11111000 15900 360600 81700 1000 104900 610 16300 58900 21600 27731100 4102700 112780 304000 13200 453570 1600 796000 100000 7472000 782500 6096000 2000 1000 640000 1494710 1150000 1550 570 4181000 100 183500 637500 118600 518300 26100 972000 33180000 33000 85600 3000 124000 300 4225000 575400 216000 77000 2025200

32350430 87400 36555840 131174219 66331548 48899445 4174826 12840 25271570 174832 11719840 604122 16000 1660196 67458 301590 832694 127440 246,247,948( 29140278 10063568 202560 626015 99895446 13216 10357934 18900 12723760 8936314 12247640 10200 2330 79360 225101070 1309680 105760 42750 10448920 600 2783702 6898880 1714310 9691594 264038 1010310 35194470 67090 461182 10150 658302 9480 10475660 4599283 332260 78410 17172738

-22476910 353715 -88627811 3917119.9999 -11877286 -324534 -203870 4083115 333450 202148 -121116 1,612,344.0003) -11097664 -8408997 -59060 227595 36936944 -3118844 -376830 496098 -116229072 -27159.9998 1349760 65212 5261656 -293718 -1178084 51500 -122500 -9480 1212820 2225336 3060 -

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 FJ PRINCE A GT CAPITAL HOUSE OF INV JG SUMMIT JOLLIVILLE HLDG KEPPEL HLDG A KEPPEL HLDG B LODESTAR LOPEZ HLDG LT GROUP MABUHAY HLDG METRO PAC INV PACIFICA PRIME MEDIA SOLID GROUP SM INVESTMENTS SAN MIGUEL CORP SOC RESOURCES TOP FRONTIER WELLEX INDUS ZEUS HLDG

0.89 13.06 875 53.55 10.8 3.48 6.66 0.72 1.13 1.14 6.58 8.18 12.94 4.01 841 5.63 72.2 5.1 5.03 5.23 0.5 4.37 13.92 0.58 4.91 0.038 1.29 1.27 986 170.5 0.86 223.2 0.224 0.231

0.91 13.36 879.5 53.6 10.86 3.49 6.97 0.73 1.14 1.15 6.74 8.24 13.4 4.49 844 5.72 72.4 5.79 5.78 5.92 0.51 4.38 13.96 0.59 4.92 0.039 1.33 1.28 987 170.6 0.88 224.4 0.228 0.24

0.92 13.4 884.5 53.2 10.92 3.51 6.97 0.77 1.18 1.2 6.53 8.36 13.5 4.01 840 5.72 72.5 5.3 5.5 5.23 0.51 4.39 14.4 0.59 4.99 0.039 1.33 1.27 981 171.5 0.86 225.8 0.228 0.235

0.92 13.44 885.5 53.6 11 3.52 6.97 0.77 1.18 1.2 6.74 8.4 13.5 4.01 847 5.73 72.7 5.79 5.78 5.23 0.51 4.39 14.4 0.59 4.99 0.039 1.33 1.28 992 171.9 0.89 225.8 0.228 0.24

0.89 13.04 871 52.1 10.76 3.47 6.65 0.7 1.12 1.13 6.5 8.15 13 4.01 836.5 5.72 71.3 5.08 5.5 5.23 0.5 4.37 13.92 0.57 4.88 0.038 1.28 1.27 981 170.4 0.85 223.6 0.224 0.233

0.91 13.32 879.5 53.6 10.8 3.48 6.65 0.72 1.13 1.15 6.74 8.24 13.4 4.01 844 5.72 72.2 5.79 5.78 5.23 0.51 4.38 13.96 0.59 4.92 0.038 1.33 1.27 987 170.6 0.89 224.4 0.224 0.24

7455000 4900 257310 1048860 8021500 539000 41000 2274000 3111000 66000 644000 16409700 523400 1000 30840 201400 1710460 5100 200 100 166000 814000 4448900 280000 11238000 3200000 121000 72000 350790 325330 170000 90 110000 170000

6741340 65538 226454900 55967169 86884448 1881230 272842 1631700 3557810 76130 4215372 135366274 6876120 4010 26008840 1152083 123474540.5 28836 1128 523 83770 3565430 62028844 163780 55356200 124100 157630 91450 346219160 55530038 145030 20210 24680 40040

695100 -98823075 -9044748 -34194812 -129340 1362738 -30701744 -0 6849935 -219698 2835293.5 -1046780 -10261588 8930 -880890 -12188667 -15704 -

HOLDING & FRIMS

PROPERTY ARTHALAND CORP 0.87 0.89 0.9 0.9 0.87 0.89 908000 800850 AYALA LAND 48.15 48.6 49.7 49.7 48.15 48.15 6863500 335033725 -95086085 ARANETA PROP 1.85 1.91 1.91 1.91 1.91 1.91 105000 200550 133700 BELLE CORP 2.08 2.09 2.1 2.1 2.08 2.08 487000 1016650 -14550 A BROWN 0.82 0.83 0.85 0.85 0.81 0.82 1152000 952270 CITYLAND DEVT 0.83 0.86 0.86 0.86 0.86 0.86 3000 2580 0.214 0.216 0.215 0.216 0.214 0.214 280000 60030 -21400 CROWN EQUITIES 6.04 6.3 6.03 6.2 6.02 6.04 71000 430276 88912 CEBU HLDG 4.65 4.66 4.7 4.71 4.61 4.66 234000 1091450 -102640 CEB LANDMASTERS 0.54 0.55 0.55 0.55 0.53 0.55 11331000 6117980 -454610 CENTURY PROP 0.385 0.395 0.385 0.395 0.385 0.395 20000 7800 CYBER BAY DOUBLEDRAGON 20.35 20.4 20.1 20.4 20.1 20.4 97200 1973480 939680 9.53 9.7 9.74 9.75 9.5 9.7 36700 354434 -8729.9998 DM WENCESLAO EMPIRE EAST 0.445 0.45 0.45 0.45 0.445 0.445 460000 204750 FILINVEST LAND 1.54 1.55 1.57 1.58 1.53 1.55 21245000 32946210 -15331330 GLOBAL ESTATE 1.2 1.21 1.2 1.2 1.19 1.2 326000 388850 -12000 8990 HLDG 15.02 15.04 15.04 15.04 15.02 15.04 149700 2248738 -238932 PHIL INFRADEV 1.34 1.35 1.35 1.38 1.33 1.34 2175000 2923600 46900 MEGAWORLD 4.4 4.42 4.38 4.47 4.37 4.4 42013000 185479530 -87737420 MRC ALLIED 0.3 0.305 0.305 0.31 0.3 0.3 7250000 2185000 309000 2 2.04 2.01 2.05 2 2.04 687000 1375660 PRIMEX CORP ROBINSONS LAND 24.5 24.55 24.5 24.85 24.1 24.55 767800 18711900 -4327595 0.375 0.38 0.385 0.385 0.375 0.38 70000 26700 PHIL REALTY ROCKWELL 2.29 2.3 2.31 2.32 2.3 2.3 428000 986340 -53359.9999 3.18 3.26 3.18 3.18 3.18 3.18 11000 34980 34980 SHANG PROP 2.54 2.55 2.56 2.64 2.54 2.55 956000 2468870 17990 STA LUCIA LAND 36.75 37.1 37 37.2 36.45 37.1 5430500 200142200 48645705 SM PRIME HLDG VISTAMALLS 5.68 5.79 5.84 5.84 5.68 5.68 84400 481660 SUNTRUST HOME 0.89 0.92 0.93 0.94 0.89 0.89 1033000 930000 17800 VISTA LAND 7.69 7.72 7.71 7.72 7.66 7.72 2247200 17326029 -716943 SERVICES ABS CBN 18.24 18.28 18.34 18.34 18.14 18.24 202500 3684230 GMA NETWORK 5.16 5.19 5.2 5.22 5.16 5.16 184400 956379 MANILA BULLETIN 0.435 0.445 0.445 0.445 0.44 0.44 240000 105800 GLOBE TELECOM 1826 1828 1830 1834 1826 1828 22840 41758680 -8639640 PLDT 1120 1128 1131 1132 1120 1128 66215 74662650 -8852505 APOLLO GLOBAL 0.045 0.047 0.045 0.048 0.045 0.047 22900000 1073400 5.8 6.17 6.17 6.17 6.17 6.17 100 617 DFNN INC IMPERIAL 1.75 1.8 1.77 1.77 1.75 1.75 44000 77060 22750 0.109 0.11 0.11 0.113 0.11 0.11 420000 46830 ISLAND INFO ISM COMM 4.97 5 5.08 5.08 4.94 4.97 1070300 5343872 311324.0003 2.65 2.68 2.7 2.75 2.65 2.65 3053000 8198100 -99740 NOW CORP 0.33 0.335 0.33 0.34 0.325 0.33 7010000 2327750 16250 TRANSPACIFIC BR 3.02 3.05 3.07 3.08 3.02 3.03 491000 1491550 -140240 PHILWEB 2GO GROUP 10 10.1 10 10.1 10 10 6500 65030 CHELSEA 6.81 6.82 6.89 7 6.8 6.81 902600 6190276 -486788 CEBU AIR 89.7 90.5 92.5 92.5 89 89.7 190520 17163353.5 -957172 INTL CONTAINER 119 120 120.1 120.2 116.7 120 1285620 152679566 7911334 LBC EXPRESS 13.56 14.1 13.56 13.56 13.56 13.56 500 6780 LORENZO SHIPPNG 0.9 0.92 0.92 0.93 0.9 0.9 49000 44740 MACROASIA 18.42 18.64 18.84 19 18.24 18.64 77300 1433752 192408 1.14 1.2 1.14 1.14 1.14 1.14 7000 7980 METROALLIANCE A PAL HLDG 7.83 7.9 8.25 8.25 7.8 7.9 14500 115316 47400 1.55 1.58 1.58 1.59 1.54 1.58 899000 1396850 HARBOR STAR ACESITE HOTEL 1.73 1.75 1.79 1.79 1.65 1.73 305000 514040 166000 0.053 0.054 0.057 0.057 0.052 0.054 90530000 4854990 106000 BOULEVARD HLDG 2 2.1 2 2 2 2 2000 4000 DISCOVERY WORLD GRAND PLAZA 9.83 11.9 14 14 14 14 200 2800 WATERFRONT 0.66 0.67 0.69 0.69 0.66 0.66 3241000 2146870 -1340 CENTRO ESCOLAR 6.98 7.15 7.19 7.19 7.19 7.19 1500 10785 STI HLDG 0.68 0.69 0.69 0.69 0.68 0.68 283000 193610 BERJAYA 2.28 2.3 2.29 2.29 2.28 2.29 128000 292840 BLOOMBERRY 10.72 10.78 10.8 10.8 10.38 10.78 5536300 58994450 6948168 PACIFIC ONLINE 2.89 2.9 2.83 2.9 2.82 2.89 19000 54070 -2890 LEISURE AND RES 3.01 3.04 3 3.05 3 3.01 71000 214170 -3040 3.46 3.5 3.4 3.46 3.4 3.46 28000 96280 MANILA JOCKEY PH RESORTS GRP 4.79 4.8 5.75 5.75 4.8 4.8 10000 51950 5400 0.71 0.72 0.71 0.72 0.7 0.72 1290000 919120 PREMIUM LEISURE METRO RETAIL 2.36 2.37 2.36 2.36 2.34 2.36 185000 434810 -61120 37.95 38 39 39 36.3 38 2673900 101462490 -9901910 PUREGOLD 77.5 78 76.1 78 76.1 78 79760 6218756 -503590 ROBINSONS RTL 2.77 2.78 2.83 2.83 2.78 2.78 1146000 3205060 354580 SSI GROUP WILCON DEPOT 16.5 16.54 16.5 16.52 16.5 16.5 1151400 18998332 8707192 APC GROUP 0.59 0.61 0.61 0.63 0.6 0.6 13256000 8041170 -960000 EASYCALL 9.32 9.36 9.65 9.65 9.32 9.35 78700 741050 GOLDEN BRIA 421.2 428.6 432 432 422 428.6 1720 735316 PRMIERE HORIZON 0.55 0.56 0.55 0.57 0.55 0.56 12409000 6943250 266560 SBS PHIL CORP 9.09 9.1 9.15 9.15 9.08 9.1 12300 112140 MINING & OIL ATOK 11.18 11.78 11.72 11.9 11.12 11.78 19600 226826 APEX MINING 1.12 1.13 1.17 1.17 1.12 1.13 960000 1091730 7979.9999 ABRA MINING 0.0016 0.0017 0.0016 0.0017 0.0016 0.0017 16000000 25700 -8000 ATLAS MINING 2.5 2.54 2.51 2.51 2.5 2.5 30000 75230 BENGUET A 1.15 1.2 1.2 1.2 1.15 1.15 8000 9250 CENTURY PEAK 2.61 2.62 2.64 2.64 2.61 2.61 1148000 3014280 -235200 7.49 7.75 7.7 7.8 7.48 7.75 41400 315193 DIZON MINES FERRONICKEL 1.61 1.62 1.65 1.65 1.61 1.61 3653000 5923500 533000 0.225 0.234 0.239 0.241 0.224 0.234 1440000 328670 GEOGRACE LEPANTO A 0.105 0.108 0.106 0.107 0.105 0.105 960000 101320 MANILA MINING A 0.0091 0.0097 0.0092 0.0092 0.0091 0.0091 6000000 54700 MANILA MINING B 0.0096 0.01 0.01 0.01 0.01 0.01 32000000 320000 MARCVENTURES 1.14 1.15 1.15 1.15 1.11 1.14 67000 75140 NIHAO 1.11 1.13 1.09 1.14 1.09 1.13 148000 164820 NICKEL ASIA 3.81 3.82 3.93 3.93 3.76 3.81 14361000 54892590 -8209740 OMICO CORP 0.5 0.52 0.5 0.5 0.5 0.5 4000 2000 ORNTL PENINSULA 0.87 0.9 0.9 0.9 0.9 0.9 1000 900 PX MINING 3.68 3.69 3.76 3.76 3.69 3.69 1759000 6533120 SEMIRARA MINING 22.1 22.4 22.6 22.6 22.1 22.1 294400 6527670 -4401015 ORNTL PETROL A 0.011 0.012 0.012 0.012 0.012 0.012 5100000 61200 0.011 0.012 0.012 0.012 0.011 0.012 1200000 13400 ORNTL PETROL B PHILODRILL 0.01 0.011 0.011 0.011 0.01 0.011 55800000 563800 PHINMA PETRO 8.5 8.6 8.55 8.77 8.52 8.6 389400 3349959 -289319 11.4 11.48 11.86 11.86 11.36 11.4 962500 10991022 794514 PXP ENERGY PREFFERED HOUSE PREF A 96.4 99.55 97.05 99.5 96.25 99.5 34200 3293885 AC PREF B1 501 511 501 501 501 501 500 250500 AC PREF B2 504 505.5 505.5 505.5 504 504 60 30315 DD PREF 100.5 101.5 101.9 101.9 101.5 101.5 110 11205 SMC FB PREF 2 995 998 995 995 995 995 890 885550 FPH PREF C 491 500 490 490 490 490 10 4900 500 505 500.5 500.5 500.5 500.5 50000 25025000 GLO PREF P LR PREF 0.99 1 0.99 1 0.99 1 62000 61700 PNX PREF 3B 107 109 109 109 108 108 4030 435250 PCOR PREF 2A 1000 1026 1028 1028 1028 1028 10 10280 PCOR PREF 3B 1062 1081 1063 1081 1063 1081 25 26935 SMC PREF 2C 77.75 77.9 78 78 77.8 77.9 89300 6953553 SMC PREF 2D 74.95 75 74.95 75 74.9 75 43500 3262006 167776 SMC PREF 2E 75.5 75.6 75.6 75.6 75.5 75.6 17650 1333840 SMC PREF 2F 75.85 76 75.9 76 75.9 76 122680 9313813 SMC PREF 2G 75.5 76.4 75.5 75.5 75.5 75.5 5000 377500 SMC PREF 2H 75.5 76 75.5 75.5 75.5 75.5 5000 377500 SMC PREF 2I 76 76.5 76.6 76.6 76 76.6 145540 11064364 PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR GMA HLDG PDR

17.36 5.08

18 5.13

17.6 5.14

17.36 5.08

82300 8100

1441866 41351

WARRANTS LR WARRANT

1.52

SMALL & MEDIUM ENTERPRISES

ITALPINAS 6.6 KEPWEALTH 9.6 XURPAS 0.91

1.64

1.52

19000

28880

6.61 9.76 0.92

6.83 10.06 0.92

6.9 10.06 0.94

6.61 9.58 0.9

6.61 9.6 0.91

628900 546100 3217000

4180207 5320338 2934230

66150 58120 -122850

EXHANGE TRADE FUNDS FIRST METRO ETF

116

-335746 7195

116.6

117.4

116

13760

1602540

335610

www.businessmirror.com.ph

Japan’s Shiseido consolidates PHL operations in one entity By VG Cabuag

@villygc

APAN’S makeup manufacturer Shiseido Co. Ltd. consolidated its Philippine operations, placing all of its product lines under one roof as it takes on the grip of local manufacturers on the country’s cosmetics market.

Under the deal, the Japan firm established Shiseido Philippines Corp., a joint venture in partnership with Singapore’s Luxasia Partners Pte. Ltd., to put most of the company’s brand under one company, including its flagship Shiseido, Nars, Laura Mercier; fragrances Dolce and Gabbana, Issey Miyake and Narciso Rodriguez; and Senka facial cleansers. Shiseido has been in the Philippines for decades but previously,

some of these brands were being handled locally by companies, such as the Rustans Group and Stores Specialists Inc. Koji Nakata, managing director of Shiseido Philippines, said he sees the local manufacturers of makeup and health lines as their main competitors in the country as these have a strong following with Filipinos. But as income increase, the purchasing power also rises, with many people

now being able to afford expensive cosmetics. “We are proud of what we have accomplished with the brand to date and are extremely delighted to move our business forward with the launch of the Shiseido Philippines in partnership with Luxasia. We remain committed to our customers and I look forward to engaging with our customers in the Philippines as we bring them limitless beauty with our expanded lineup of high-quality cosmetics and skin-care products,” Nakata said. “The Philippines is an important and strategic market for Shiseido in Southeast Asia, and it is an exciting time to be a part of the country’s booming beauty industry. I hope that Shiseido’s entry to the Philippines will enable more Filipinos to have access to a wider range of beauty brands and products—with the uncompromising quality, innovation

and spirit of omotenashi, or Japanese hospitality—that only Shiseido can provide,” Jean-Philippe Charrier, president and CEO of Shiseido Asia Pacific, said in a statement. Currently, the company has 27 stores in the country, 15 of which are stand-alone stores, 11 located in department stores and one kiosk. Officials said they want to expand the number in the coming years but not too aggressively, since they plan to increase Shiseido’s distribution channels. Founded in 1872, Shiseido is one of the most established beauty companies in the world. It is the No. 1 beauty company in Japan and ranked fifth worldwide, with a presence in over 120 countries, including the Philippines. The country is Southeast Asia’s third-largest cosmetics market representing close to $3 billion in annual sales.

MGen giving ₧424M to MGreen for 210 MW of solar-power projects By Lenie Lectura @llectura

HE Manila Electric Co. (Meralco) will provide P424 million to MGen Renewable Energy Inc. (MGreen) to partly finance the development of 210 megawatts (MW) of various solar-power projects. “The company’s board of directors approved the request from MGreen, a subsidiary of Meralco PowerGen Corp., for a total of P424.2-million equity funding for its solar projects under development with combined capacity of 210 Mw and total estimated project cost of P10.01billion,” said Meralco on Tuesday. The 210 MW form part of the company’s plan to invest in 1,000 MW of renewable-energy projects over the next five to seven years. “MGen, through MGreen, will continue working on the realization of our project opportunities and will work in partnership with established developers to maximize our growth potential,” MGen President and CEO Rogelio L. Singson said. MGreen is the renewable-energy subsidiary of MGen, which, in turn, is the power generation arm of Meralco. The company was established to serve as the platform for the strategic push to develop renewable-energy projects, primarily solar, wind and

run-of-river hydro. MGreen said the 210-MW solarpower projects are in line with its commitment to develop large-scale renewable-energy projects that will provide reliable, environmentfriendly power at competitive prices without the need for subsidy. “We believe that now is the time to focus on building our green energy capacity and we intend to be a key player in the renewable-energy space,” said Singson. “We also hope to contribute to the country’s transition toward sustainable energy.” He earlier said that more RE deals would be signed soon. “In terms of [the] commitment of the group to expand our RE projects, we are lining up in the immediate future, as early as 2020, about 350 MW of RE projects that are almost near completion. Unfortunately, we are covered by NDA so we can’t disclose until we sign agreements with them,” said Singson. He said the RE deals will be signed this year but the commercial operation date of these RE projects, which include solar and microgrid, “could be next year.” Also, the RE deals this year are targeted to be completed in time for the release of the Renewable Portfolio Standards (RPS) guidelines. RPS mandates distribution utilities to source a minimum portion of energy from renewable sourc-

AC energy investing $20M for RE projects in AsPac

HE power unit of conglomerate Ayala Corp. is investing $20 million to partly finance the development, construction and operations of renewable-energy (RE) power projects in the AsiaPacific (AsPac) region, with a goal of building a portfolio of over 1 gigawatt in the next few years. AC Energy, through AC Renewables International Pte. Ltd., will undertake these power projects together with UPC Renewables, through UPC Solar Asia Pacific Ltd. They formed a 50-50 joint-venture company known as UPC-AC Energy Solar. “AC Energy is investing $20 million via a development loan to finance the development of this pipeline and expects to provide all the construction equity required for these projects,” AC Energy said. In particular, the initial focus on building UPC-AC Energy Solar’s power portfolio is set in India, South Korea and Taiwan.

The new investment will enable the group to accelerate development of projects in the region, said UPC Renewables Chairman Brian Caffyn. “As partnerships and growth opportunities arise, we are always looking at ways to significantly scale up our renewable-energy portfolio. AC Energy has always been focused on large-scale projects and is managed by a high-quality management team. We are grateful for their continuous support to the UPC group,” said Caffyn. Patrice Clausse, AC Energy chief operating advisor and AC Renewables International director, said the company is on its way to achieve a balanced energy mix. “AC Energy is very excited to invest in another partnership with UPC Renewables. Our move to enter into a large and bankable solar market like India is consistent with AC Energy’s goal to exceed 5,000 megawatts by 2025, with at least 50 percent to be sourced from renewables,” said Clausse. Lenie Lectura

es, thus guaranteeing a market for renewable-energy generators. This minimum will be increased on yearly basis. “We are working on several renewable-energy prospects and we

mutual funds

recognize the significant reduction in the development cost, particularly for large-scale solar and wind over the past years. We intend to be a key player in this expanding sector,” Singson said earlier.

October 1, 2019

NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds ALFM Growth Fund, Inc. -a 250.65 1.35% -2.25% -1.04% -0.61% ATRAM Alpha Opportunity Fund, Inc. -a 1.5363 11.28% 2.89% 0.66% 6.63% ATRAM Philippine Equity Opportunity Fund, Inc. -a 3.9256 1.92% -3.12% -1.97% 0.58% Climbs Share Capital Equity Investment Fund Corp. -a 0.9408 6.82% n.a. n.a. 4.42% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.8502 4.59% n.a. n.a. 3.59% First Metro Save and Learn Equity Fund,Inc. -a 5.3411 3.79% -0.49% -0.52% 1.29% First Metro Save and Learn Philippine Index Fund, Inc. -a,6 0.8556 4% -4.66% n.a. 2.26% MBG Equity Investment Fund, Inc. -a 115.74 -0.49% n.a. n.a. -0.37% PAMI Equity Index Fund, Inc. -a 51.2032 6.31% -0.17% n.a. 4.02% Philam Strategic Growth Fund, Inc. -a 533.2 6.55% -1.07% -0.55% 3.59% Philequity Dividend Yield Fund, Inc. -a 1.2873 4.54% -0.26% 0.59% 2.66% Philequity Fund, Inc. -a 37.9011 5.55% 0.63% 0.46% 3.46% Philequity MSCI Philippine Index Fund, Inc. -a,3 1.0172 n.a. n.a. n.a. n.a. Philequity PSE Index Fund Inc. -a 5.2024 7.43% 0.55% 1.35% 4.91% Philippine Stock Index Fund Corp. -a 868.52 7.47% 0.43% 1.27% 4.84% Soldivo Strategic Growth Fund, Inc. -a 0.9029 8.25% -0.3% n.a. 4.99% Sun Life Prosperity Philippine Equity Fund, Inc. -a 4.2211 6.06% 0.25% 0.54% 4% 0.38% n.a. 4.56% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.9978 7.01% United Fund, Inc. -a 3.6665 6.96% 1.95% 1.84% 4.73% Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c,2 116.4528 7.77% 1.2% 2.31% 5.15% ATRAM AsiaPlus Equity Fund, Inc. -b $0.9397 -8.11% 0.89% -1.31% 1.14% Sun Life Prosperity World Voyager Fund, Inc. -a $1.2844 -1.85% 6.98% n.a. 16.21% Balanced Funds Primarily invested in Peso securities ATRAM Dynamic Allocation Fund, Inc. -a 1.609 -1.54% -3.81% -3.43% -2.56% ATRAM Philippine Balanced Fund, Inc. -a 2.2742 3.94% -1.4% -0.31% 2.94% First Metro Save and Learn Balanced Fund Inc. -a 2.6292 5.19% 0.05% -1.71% 3.39% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,8 0.2323 n.a. n.a. n.a. n.a. Grepalife Balanced Fund Corporation -a 1.3361 2.94% n.a. n.a. 2.44% NCM Mutual Fund of the Phils., Inc. -a 1.9486 7.24% 0.67% 0.91% 5.72% PAMI Horizon Fund, Inc. -a 3.7646 8.65% -0.48% 0.14% 6.67% Philam Fund, Inc. -a 16.8604 8.53% -0.41% 0.05% 5.99% Solidaritas Fund, Inc. -a 2.1269 4.52% 0% 0.9% 2.79% Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.8525 6.82% 0.3% 0.49% 5.51% Sun Life Prosperity Achiever Fund 2028, Inc. -a,d,4 1.0076 n.a. n.a. n.a. n.a. Sun Life Prosperity Achiever Fund 2038, Inc. -a,d,4 0.9958 n.a. n.a. n.a. n.a. Sun Life Prosperity Achiever Fund 2048, Inc. -a,d,4 0.9926 n.a. n.a. n.a. n.a. Sun Life Prosperity Dynamic Fund, Inc. -a 0.977 6.44% -0.12% -0.24% 6% Primarily invested in foreign currency securities Cocolife Dollar Fund Builder, Inc. -a $0.03845 9.64% 2.2% 2.47% 8.92% PAMI Asia Balanced Fund, Inc. -a $0.9796 -0.5% 1.26% -0.36% 7.21% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $3.7457 1.38% 5.11% 3.1% 13.21% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a $1.1108 3.26% 3.18% n.a. 9.98% Bond Funds Primarily invested in Peso securities ALFM Peso Bond Fund, Inc. -a 354.49 3.78% 2.26% 2.28% 3.21% ATRAM Corporate Bond Fund, Inc. -a,1 1.9167 3.13% 0.08% 0.01% 3.09% Cocolife Fixed Income Fund, Inc. -a 3.0855 5.13% 5.31% 5.24% 3.68% Ekklesia Mutual Fund Inc. -a 2.2116 4.28% 1.35% 2.08% 3.87% First Metro Save and Learn Fixed Income Fund,Inc. -a 2.3368 5.53% 1.45% 1.58% 5.97% Grepalife Fixed Income Fund Corp. -a P 1.6079 2.04% -1.09% 0.27% 2.78% Philam Bond Fund, Inc. -a 4.3058 11.69% 0.84% 1.81% 9.85% Philequity Peso Bond Fund, Inc. -a 3.7335 7.65% 1.39% 1.52% 6.15% Soldivo Bond Fund, Inc. -a 0.9516 7.6% -0.16% n.a. 6.78% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.0277 9.7% 2.37% 2.65% 9.47% Sun Life Prosperity GS Fund, Inc. -a 1.6776 9.5% 1.82% 2.22% 8.94% Primarily invested in foreign currency securities ALFM Dollar Bond Fund, Inc. -a $465.17 4.42% 1.83% 2.88% 3.74% 1.53% ALFM Euro Bond Fund, Inc. -a Є220.37 3.35% 1.25% 3.62% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.1983 6.92% 2.06% 2.54% 6.45% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0258 4.03% 0.92% 1.54% 4.03% Grepalife Dollar Bond Fund Corp. -a $1.7149 0.86% -1.94% 0.55% 1.46% PAMI Global Bond Fund, Inc -a $1.0989 6.7% -0.32% -1% 6.04% Philam Dollar Bond Fund, Inc. -a $2.4108 11.04% 1.72% 3.65% 11.06% Philequity Dollar Income Fund Inc. -a $0.0601417 5.73% 1.92% 2.1% 5.51% 10.16% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.1639 9.33% 1% 3.11% Money Market Funds Primarily invested in Peso securities ALFM Money Market Fund, Inc. -a 124.72 4.13% 2.65% 2.08% 3.18% First Metro Save and Learn Money Market Fund, Inc. -a,5 1.023 n.a. n.a. n.a. n.a. Philam Managed Income Fund, Inc. -a 1.2393 5.76% 2.32% 1.45% 4.86% Sun Life Prosperity Money Market Fund, Inc. -a 1.2553 3.89% 2.8% 2.19% 2.96% Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.033 2.21% n.a. n.a. 1.68% a - NAVPS as of the previous banking day. b - NAVPS as of two banking days ago. c - Listed in the PSE. d - in Net Asset Value per Unit (NAVPU). 1 - Adjusted due to cash dividend issuance last January 29, 2018. 2 - Adjusted due to stock dividend issuance last June 5, 2018. 3 Launch date is January 3, 2019. 4 - Launch date is January 28, 2019. 5 - Launch date is February 1, 2019. 6 - Renaming was approved by the SEC last October 12, 2018 (formerly, One Wealthy Nation Fund, Inc.). "While we endeavor to keep the information accurate, the Philippine Investment Funds Association (PIFA) and its members make no warranties as to the correctness of the newspaper’s publication and assume no liability or responsibility for any error or omissions. You may visit http://www. pifa.com.ph to see the latest NAVPS/NAVPU."

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Banking&Finance BusinessMirror

PHL’s balance sheet in H1 shows slight improvement

HE Philippines’s international investment position (IIP) continued to improve in the first half of the year, but remained in a net liability position during the period. The Bangko Sentral ng Pilipinas (BSP) reported that the IIP, considered a country’s balance sheet with the rest of the world at a given period, improved to a net external liability position of $39.5 billion in end-June 2019 from $41.3 billion in end-March this year. A country’s IIP is the difference between a nation’s overseas assets and its overseas liabilities. If the country’s IIP position is a ‘net liability’ it means there were more liabilities held during the period compared to foreign assets. This development during the pe-

riod emanated primarily from the 2.7-percent increase in the country’s total external financial assets–or residents’ investments of financial assets with the rest of the world— from $183.7 billion to $188.6 billion. This growth outpaced the 1.4percent growth in total external financial liabilities—or investments of non-residents in the Philippines— from $225 billion to $228.1 billion. By sector, only the BSP registered a net external asset position, which stood at $83.8 billion as of end-June 2019 due mainly to the increase in the country’s reserve assets. Meanwhile, the other major sectors—banks, the general government, and other sectors—remained net users of foreign resources as they posted net external liability

Monetary Board to allow disclosures via social media

HE Bangko Sentral ng Pilipinas (BSP) on Tuesday announced that the Monetary Board (MB) moved to expand the mode of disclosing relevant information required under Republic Act 3765, also known as the Truth in Lending Act (TLA). In a statement, the BSP said the enhanced law now allows disclosure through various channels of communication, including educational videos and social media. The BSP said the move to include other channels of communication as part of the TLA is meant to encourage BSP-supervised financial institutions to be more creative, efficient and effective in disseminating salient information, “while adhering to consumer protection standards and social-media risk management guidelines.” The enhanced disclosure requirement also now applies not just to banks, but includes quasibanks, nonstock savings and loan associations, pawnshops, nonbank financial institutions, as well as banks and/or nonbanks operating as credit-card issuers. The expansion also put emphasis on full disclosure and utmost transparency in lending, particularly on the cost of credit granted by the banks. “[These are] critical elements that empower consumers to make objective comparison of banking products and informed financial decisions,” the BSP said. Section 4 of the TLA orders any creditor to “furnish to each person to whom credit is extended, prior to the consummation of the transaction, a clear statement in writing setting forth, to the extent applicable and in accordance with rules and regulations prescribed” by the MB several information. The information must include the cash price or delivered price of the property or service to be acquired (Clause 1) and the amounts, if any, to be credited as down payment and/or trade-in (Clause 2). Likewise, the information must also include the following: the difference between the amounts set forth under clauses 1 and 2; the charges, individually itemized, which are paid or to be paid by such person in connection with the transaction but which are not incident to the extension of credit; and, the total amount to be financed. The information must also contain the finance charge expressed in terms of pesos and centavos, and the percentage that the finance bears to the total amount to be financed expressed as a simple annual rate on the outstanding unpaid balance of the obligation. Bianca Cuaresma

positions as of end-quarter. By type of instrument, the country’s total outstanding external financial liabilities as of end-June 2019 consisted largely of non-residents’ holdings of equity securities issued by local entities totaling $54 billion (23.7 percent), non-residents’ placements of equity capital in resident affiliates at $53.2 billion (23.3 percent), and residents’ availments of foreign loans amounting to $46.8 billion (20.5 percent). Other external financial liabilities include non-residents’ investments in debt instruments issued by resident affiliates at $36.4 billion at 15.9 percent and placements in debt securities issued by resident corporations at $29.1 billion at 12.8 percent. Bianca Cuaresma

Govt vows intensified crackdown vs POGOs found not paying taxes By Samuel P. Medenilla @sam_medenilla

ORE government crackdown against tax-evading Philippine Offshore Gaming Operators (POGO) will ensue once the Department of Labor and Employment (DOLE) updates this month its master list of workers in the said industry. This was among the decisions of the interagency task force for POGO issues in its meeting last week. DOLE said it is now in the process of of validating the submitted list of personnel of POGOs, which includes both locals and foreign nationals. “We have different mandates and protocols in doing inspection hence we need cross-validation of data prior to inspection,” Bureau of Local Employment (BLE) Director Dominique R. Tutay told the BusinessMirror. “We were given two weeks for this.” As of June, the labor department said that of the registered 83,999 POGO workers nationwide, about 13,856 are Filipinos, while 70,130 are foreign nationals. However, the DOLE said the list needs to be validated in the second half of the year since some of the covered foreigners may have not complied with a new government regulation on work permits signed last May or already have expired work permits. Tutay said the Bureau of Internal Revenue (BIR) will use the updated list to to go after erring POGO firms. “When we give them the validated list, it is enough signal for them to conduct their raid,” Tutay said. Last week, the BIR shutdown the operation of Great Empire Gaming and Amusement Corp. (Gegac), a POGO firm, after it failed to pay P1.3 billion worth of taxes. The BIR lifted the closure against Gegac after it committed to pay the sum within three months. The interagency is now crafting the guidelines for similar raids in the future.

Policy restriction

IN a related development, Labor Secretary Silvestre H. Bello III said in a radio interview on Tuesday that he already ordered the inspection of the establishment in Cavite amid reports some of its Chinese workers became sick. Last Thursday, 39 Chinese workers from Kawit, Cavite, were reported to have been rushed to the hospital due to food poisoning. He said the probe will determine of the said workers have the necessary Alien Employment Permit (AEP). An AEP is a document issued by the labor department allowing foreign nationals to work in the country beyond six months. Bello lamented that they could do little if the Chinese workers will indeed be proven not to have AEP. Currently, the labor chief said they could only ask the Philippine Amusement and Gaming Corp. to cancel the franchise of the erring POGO. As for the FNs without any AEP, he said they could only endorse them to the Bureau of Immigration for possible deportation. Bello said he already asked lawmakers to provide them with additional powers to shutdown such erring POGOs.

Trade tensions to sap peso strength–Fitch

By Bianca Cuaresma

taxation would prove to be a valuable asset in helping the ADB continue reinventing itself and pursuing new strategies to help the region achieve inclusive growth amid a global economic slowdown.” The DOF noted Asakawa’s role in coordinating a financial package to abate the financial crisis in 2008. That package included a $100-billion loan from Japan to the International Monetary Fund (IMF). Dominguez said Asakawa will also ensure continuity of the reforms initiated by Takehiko Nakao in the ADB, such as strengthening the Bank’s programs on climate finance, expanding interventions in education and health care, and increasing infrastructure investments in the region. He said Asakawa would find himself at home in ADB’s Manila headquarters, having been based here before when he was assigned to the Bank.

@BcuaresmaBM

HE local currency is expected to weaken in the near term as the peso’s movement largely being dictated by wider investor sentiment rather than local developments, an international think tank said. In an assessment released on Tuesday, Fitch Solutions—the research arm of Fitch Group—said they forecast a “moderate fall” in the peso’s trading value against the dollar. According to Fitch Solutions, the legal tender has remained relatively stable ahead of the Bangko Sentral ng Pilipinas policy in September, when the BSP cut interest rate as anticipated, instead moving more sharply on bouts of risk-on and risk-off. The peso’s relative stability amid local developments contrasted its fall in August when US-China

trade tensions escalated, Fitch Solutions said. “In-line with our view for continued elevated trade tensions over the coming quarters, we see further weakness in the peso. We at Fitch Solutions forecast the exchange rate to average 52.10/USD in 2019, weaker than its year-todate average of 52.05/USD,” Fitch Solutions said. At October’s first trading day, the peso closed the market at P51.93 against the greenback with a total traded volume of $1.17 billion during the day. The peso’s value is weaker

than the 51.83-to-a-dollar value in its previous trading day. “The risks to our outlook are broadly tilted to more pronounced bouts of risk aversion, in which emerging market currencies would sell-off in a sustained manner. This could be triggered by a realization of global recession fears or a more pronounced move higher by the greenback,” Fitch Solutions said. “The BSP may also misjudge market appetite for further rate cuts and lower rates too quickly, squeezing real returns and unnerving investors in regards to the Bank’s [BSP] willingness to tighten policy if inflation picks up,” it added. For the longer term, the research firm announced that they expect the peso to weaken over the longer term, but now expect more weakness in 2020 than previously. “We forecast the unit to average 53.00/USD in 2020, revised from 52.85/USD, owing to the same shortterm headwinds—trade tensions and dollar strength—while persisting twin deficits highlight Philippines’s vulnerability to risk-aversion moves,” Fitch Solutions said.

Japan’s worst bond auction in years spurs global sell-off, impacts Euro debt

APANESE bond traders just had a taste of what it’s like when the nation’s central bank and pension fund aren’t there to support them. Bond futures tumbled by the most since 2016, triggering margin calls for investors, after the worst 10-year debt auction in three years. Yields across the curve climbed, while the sell-off also spilled into Treasuries and European debt. Behind the sudden collapse lies the Bank of Japan’s (BOJ) decision to potentially slash bond purchases in October, and an announcement that the Government Pension Investment Fund (GPIF) is pivoting toward buying more foreign debt. All of a sudden, investors were left wondering what other changes were in store. “The BOJ’s operation change had a huge psychological impact,” Eiji Dohke, chief bond strategist at SBI Securities in Tokyo, said. “Investors are reluctant to buy given the risk of the BOJ skipping a purchase.” Futures of 10-year notes slid as much as ¥0.97 to 154.05. The auction of 10-year debt drew a bid-tocover ratio of 3.42, the lowest since 2016, with the cut-off price of 102.33 falling short of the 102.64 estimated by traders. Japanese sovereign bonds were already reeling from September, when they lost 1.1 percent, the first monthly decline since April, according to a Bloomberg Barclays index.

AN unidentified man is set at the foreground of a Tokyo cityscape. Bloomberg

The BOJ on Monday slashed purchase ranges for four major maturities, and indicated it may even stop buying debt of more than 25 years. It also suggested that it could skip buying operations as needed as it sought to steepen the yield curve. Yields on Japan’s 10-year cash bond rose 5.5 basis points to minus 0.16 percent. They also gained 5 basis points for Treasuries with a comparable maturity. While investors are waiting for the central bank’s first bond purchase operation for this month on Friday, they also have to assess the long-term implications from GPIF’s announcement Tuesday.

PHL backs Japan’s ex-vice finance minister as next ADB president HE Philippines backed the nomination of Japan’s former vice finance minister to become president of the Asian Development Bank (ADB). In a statement, the Department of Finance (DOF) said the experience and distinguished career of Masatsugu Asakawa makes him a good candidate to lead the Manila-based multilateral development bank. Asakawa, who is also special advisor to the Japanese prime minister, has a vast experience in global financial affairs that can help the multilateral institution promote inclusion in the region, a statement by the DOF said. Finance Secretary Carlos G. Dominguez III, who sits as ADB governor for the Philippines, was quoted in the statement as saying it would be in the multilateral lender “where his extensive experience in international finance, development and

Wednesday, October 2, 2019 B3

Dominguez recalled that when Asakawa served as vice finance minister, the Philippines saw “tremendous improvement” in official development assistance (ODA) extended by Japan. “Asakawa helped set the stage for the ‘fast and sure’ approach we are adopting with Japan now in implementing the bigticket infrastructure projects being funded with Japanese ODA,” Dominguez said. The DOF said Japan Deputy Prime Minister and Minister of Finance Taro Aso informed Dominguez of the Japanese government’s intention to nominate Special Advisor Asakawa to the top ADB post and sought the Philippines support for his election. In his letter to Dominguez, DOF said Aso, who is also Japan’s Minister of State for Financial Services, endorsed Asakawa since he is the “most qualified candidate” to succeed Nakao.

Tokyo has nominated Asakawa to succeed Nakao who has expressed his intention to resign from his post effective January 16, 2020, after serving as ADB president since April 2013. ADB presidents are nominated from ADB’s regional members for a five-year term. Each president is elected by the ADB board of governors. As of December 2018, the ADB has grown to include 68 members, 49 of which are from within Asia and the Pacific and 19 outside the region. In terms of the voting powers, regional member countries is 65.04 percent while non-regional members have 34.96 percent. Japan and the United States have equal voting power of 12.756 percent each followed by China with 5.442 percent; India, 5.352 percent; and Australia, 4.917 percent. Cai U. Ordinario

The world’s largest pension fund said it will consider currency-hedged overseas bond holdings as similar to domestic debt investments. That will allow GPIF to buy more foreign debt, as it’s already close to the 19 percent limit in its current mandate. Takahiro Sekido, a strategist at MUFG Bank Ltd., estimated GPIF may allocate more than 30 percent of its existing JGB holdings to currency hedged-foreign bonds. “There could be many funds following GPIF’s allocation change,” Sekido, a former BOJ official, said. “Japanese bonds have reached the point where it’s almost impossible to buy.” Bloomberg News

B4 Wednesday, October 2, 2019

SiGMA launches 2020 gaming and AI event RedDoorz to provide insurance for hotel employees, announces partnership with BIMA

EDDOORZ, Southeast Asia’s largest and fastest-growing hotel management and booking platform has today announced a strategic partnership with Swedish microinsurance company BIMA, to provide all of its hotel partner staff with life and personal accident insurance. RedDoorz Philippines Country Head, Stefanie Irma said, "We are delighted to be able to offer improved benefits for our valued hotel partners and their employees in the Philippines. We pride ourselves on

having exceptional relationships with our hotel partners and have been searching for an insurance partner that matches our core values. BIMA is the right insurance partner to offer our RedDoorz hotel partner employees coverage in the Philippines. Working with local insurance leader Pioneer Insurance, BIMA’s coverage of RedDoorz partner staff includes burial assistance, accidental medical expense and daily accident hospital benefit for the beneficiaries. Through its partner engagement program, RedDoorz has taken

a holistic approach to the wellness of over 1,500 indirect hotel staff in over 10 cities across the Philippines. RedDoorz also provides a variety of initiatives including hospitality, etiquette and communication training courses, health and fitness activities and free lunch gatherings. These programs have been designed from the ground up with the purpose of elevating workplace wellness improving career growth and prospects, as well as strengthening the relationship with partners. Earlier this year, RedDoorz gathered more than 100 staff from across the Philippines to participate in its first ever ‘Quality Training Workshop’ in the country. This was an opportunity for the company to impart key insights, learnings and best-in-class industry expertise in the hospitality industry amongst the participants. RedDoorz now has over 150 hotels in the Philippines. The company prides itself in creating meaningful and longlasting relationships with its strong network of partner properties. Log in to www.reddoorz.com to search for desired location, check-in date and type of room pt download the RedDoorz app from the Google Play Store.

SM Supermalls kicks off Kids’ Month!

M treats kiddie shoppers with fun and bestloved activities for the third year with the biggest and grandest #SMSuperKidsDay2019 celebration happening on October 5 (Saturday) in 69 SM malls nationwide. A grand launch will be held at SM Southmall featuring royalty-themed games, activities, and entertainment! “SM serves as a place for kids and their families to create great childhood memories. This October, we are bringing more fun playtime activities in our malls nationwide as we officially begin Kids’ Month,” said Jonjon San Agustin, SM Supermalls SVP for marketing. Fit for princes and princesses alike, SM Super Kids Day will feature free fun and play kiddie activities with countless toys, arts and crafts activities, deals on kiddie meals and items, and they can even win a friend! To unveil more surprises, shoppers may also join SuperKids Royal Dash Facebook Filter Game by simply scanning the QR code posters located in select areas in the mall and Toy Kingdom branches! Aside from SM Super Kids Day, Kids’ Month will further delight kids and their families with

shopping treats at Toy Kingdom, The SM Store, Baby Company and SM Markets plus the annual nationwide celebration of United Nations Day (October 8 to 31) and Halloween (October 18 to 31). For more information, check out www. smsupermalls.com, or its Facebook, Twitter and Instagram accounts: @smsupermalls.

Floridablanca receives sanitation aid from Widus Foundation

IDUS Foundation Inc. (WFI), together with the Clark Development Corporation (CDC) and the Municipal Social Welfare and Development Office (MSWDO) of Floridablanca Pampanga, donated basic home and hygiene supplies to 200 families in Barangay Nabuclod on September 17. Beneficiaries received health and sanitation kits composed of mosquito nets, blankets, water buckets with dippers and other personal hygiene necessities. WFI Manager Ronnel Golimlim. who led the turnover together with Floridablanca MSWDO Head Edelyn Lobo, said that it was CDC who advised their office about the unfortunate condition of the indigenous people-particularly women and children after the devastating earthquake last April 22. “A letter of appeal from the Barangay Captain Anita Casupanan of Nabuclod to CDC prompted us to visit the community and assess their urgent needs. In the letter, they openly shared the struggles some families in their area are faced with like being unable to purchase simple hygiene items such as toothpaste, toothbrushes, soaps and other sanitary needs for

women due to financial constraints,” Golimlim said. To address the situation, CDC and WFI teamed up for an immediate relief operation at Barangay Nabuclod. “Widus Foundation believes that for any project to have an impact, it must be sustained and done in collaboration with the local government units and likeminded partners. This is the reason why WFI is actively engaging local stakeholders and community members themselves to discuss and plan current and immediate needs and also explore available opportunities for rehabilitation and social welfare development within the community.” Golimlim added. For her part, Lobo, the Head of the MSWDO Floridablanca, lauded WFI for urgently aiding Barangay Nabuclod with their needs. “We thank WFI for coordinating their efforts with us and for going beyond the usual CSR activity” she said. “The way they have distributed the relief goods was very encouraging. It was simple yet organized. The donation of mosquito nets and blankets is also a very kind and helpful gesture in preventing dengue in their community.”

CARE BEYOND COMPARE. Widus Foundation Inc. (WFI) donates health and sanitation kits to more than 200 families in Barangay Nabuclod led by WFI Manager Ronnel Golimlim together with Floridablanca MSWDO Head Edelyn Lobo.

iGMA Manila, ICE Asia and Manila AI & Blockchain Summit will take place on June 8-9, 2020 at the SMX Convention Center and Conrad Hotel Manila. The conference will address all the latest developments in the landbased gaming, i-gaming, e-sports, digital games as well as Artificial Intelligence, Blockchain, Internet of Things (IoT), Big Data, Quantum Technology and FinTech. For the very first time in the history, the two verticals – new tech and gaming will meet in one city, bringing the brightest minds and most successful entrepreneurs under one roof. As a joint venture between SiGMA Group and Clarion Gaming, the gaming part of the vent will cater for both land-based gaming and i-gaming sectors with online suppliers, exhibitors, operators, affiliates, regulators and blockchain businesses. The organizers are expecting around 15, 000 delegates from Europe and Asia with over 400 exhibitors and hundreds of world-class speakers. The event

will also feature blockchain and AI expo as the organizers bring the wealth of experience and contacts to Manila. As Asia tempts leading brands from the global gaming sector to expand business opportunities, the region becomes a fresh frontier for the said industries. Cagayan Economic Zone Authority (CEZA) plays a great role in creating a regulatory framework for the blockchain technology. “We are impressed by the vibrant entrepreneurial spirit of Southeast Asia, specifically Philippines. I look forward to the first edition this coming June 2020 with excitement,” said Eman Pulis, founder of CEO of SiGMA. “We believe that this event will allow business opportunities. Online gaming needs Artificial Intelligence. Blockchain technology needs to be applied to something we need to see how to apply it to gaming. There will be lots of cross pollination to make Manila a must-visit place to go to,” he added.

DEADLY HEAT, EMPTY SEATS

RUNNERS start the women’s marathon at the World Athletics Championships in Doha, which distance-running great Haile Gebrselassie says marathon participants could have died from the heat. AP

Sports BusinessMirror

| Wednesday, October 2, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

By Elias Meseret The Associated Press

DDIS ABABA, Ethiopia—Distance-running great Haile Gebrselassie says it was a mistake to hold the track and field world championships in Qatar and that marathon runners could have died from the heat. The women’s marathon Saturday started at midnight to dodge the worst of the heat in Qatar but was still held in humidity that made it feel like 105 degrees (40 Celsius). Twenty-eight of the 68 women dropped out, 30 runners were given medical inspections and one was briefly hospitalized. “It was a mistake to conduct the championship in such hot weather in Doha, especially the marathon race. As someone who has been in the sport for many years, I’ve found it unacceptable,” former marathon worldrecord holder Gebrselassie told The Associated Press in a telephone interview. “God forbid, but people could have died running in such weather conditions,” Gebrselassie said. The stadium events for the world championships are held in the air-conditioned Khalifa International Stadium, but there’s no such protection from the heat for the marathon and walks on the Doha seafront. “The track races were OK, but I’ve found it difficult to accept the justification behind holding the marathon race,” Gebrselassie said. “They could have made it a halfmarathon event, or even scrap it from this championship taking into consideration the weather conditions.” Gebrselassie, a two-time Olympic champion in the 10,000 meters who was also president of the Ethiopian Athletics Federation, said athletes had trained hard but struggled with the conditions. That could hurt their morale for the future, he added. All three of Ethiopia’s runners failed to finish the women’s marathon, which was won by Ruth Chepngetich of Kenya. The men’s marathon is Sunday. Other distance events in Doha have seen athletes fail to finish. In the men’s 50-kilometer walk Sunday, 15 of 46 starters dropped out, and six out of 23 were non-finishers in the women’s 50k walk. The International Association of Athletics Federations (IAAF) has defended its staging of the events, saying that the women’s marathon completion rate was similar to those at world championships in Tokyo (1991) and Moscow (2013).

OHA, Qatar—There was no way Karsten Warholm of Norway would dare be disappointed. He cleared all 10 hurdles, beat all seven guys, won his second straight gold medal at world championships and remained undefeated in 2019—a perfect 9 for 9. That world record, however, remains unbroken, just as it has after every 400-meter hurdle race run since 1992, four years before Warholm was born. In a race hyped as the one that might finally send that 27-year-old record tumbling, Warholm closed out Monday night’s action by completing the loop in 47.42 seconds—.64 seconds off the mark still held by Kevin Young—to beat out two others who also had sub-47 times on their resume: Rai Benjamin of the United States and Abderrahman Samba, a Saudi-born hurdler who now competes for the host country of Qatar. Warholm joined Edwin Moses, Felix Sanchez and Kerron Clement as a back-to-back winner of the grueling event, yet still, he couldn’t avoid the question of why that record still stands. “To be honest, I don’t care,” Warholm said. “If I’d

Next year’s Olympic marathons in Tokyo are scheduled to start at 6 a.m., and runners can expect to face similar intense heat.

CROWD IS AN EXAGGERATION

AS Shelly-Ann Fraser-Pryce completed her victory lap after once again being crowned as the fastest woman on the planet, she held her two-year-old son and waved to the crowd. Well, crowd is an exaggeration. There appeared to be only dozens of fans left just minutes after the women’s 100-meter final, one of the marquee events of the world track championships in Doha, Qatar. Most of them were Jamaican supporters, team officials or Fraser-Pryce family members. Just before the race, as the lights dimmed for an extravagant laser show, it appeared that as few as 1,000 paying fans were in the stands at Khalifa International Stadium on Sunday night to see Fraser-Pryce win her fourth world title. “I actually did notice that the stadium wasn’t full,” she said. “Even though there were 1,000 people in the stands, the two most important people were here to see me compete.” The lack of fans over the first three days of the event have renewed criticism of the IAAF’s decision to award its showpiece event to a tiny country without a significant track and field fan base and intense heat. The open-air stadium is air-conditioned, but the marathon and long race walks are being held after midnight through empty streets. The IAAF would not comment on the growing

reputational damage caused by the empty seats, pushing responsibility on local organizers who issued a statement Monday blaming the poor attendance on a late-night schedule to accommodate global television audiences. It also cited Qatar being boycotted by neighbors, including the United Arab Emirates. Doha’s hosting has been under question since it was selected by the IAAF in 2014. However, IAAF President Sebastian Coe can’t blame that decision on predecessor Lamine Diack. Coe was not only a vice president of the governing body at the time but on the evaluation commission of bidders. Coe said in 2014 that Qatar “put some incentives on the table” including building tracks around the world. A year later, Coe was telling British parliamentarians he was unsure if the bid was clean. Qatar’s conduct in bidding for the world athletics championships, first unsuccessfully for the 2017 edition, remains under criminal investigation in France. A preliminary charge of “active corruption” was filed in May against Nasser Al-Khelaifi, the chairman of the beIN media group who also runs French soccer team Paris Saint-Germain. He denies wrongdoing. The case focuses on a

Karsten Warholm becomes a backto-back winner of the grueling event, yet still, he couldn’t avoid the question of why that record still stands. AP

Warholm happy with 2nd straight title won the gold medal in a minute, I’d be happy. I don’t go out with the intention to break the world record. I go out to have fun and win the race.” In any other country, a hometown bronze medal the likes of which Samba won would’ve brought a cascade of cheers from the stands. But by the time the adopted Qatari had reeled in Kyron McMaster of the Ivory Coast over the last 50 meters to win what could be the host’s only medal of these championships, most of the diminutive crowd had already cleared out. Then again, anyone expecting routine on Day 4 of this track meet was in for a surprise. The best sprint of the day may have very well come from the Swedish discus champion, Daniel Stahl, who burst out to the middle of the field after his final throw, then later traversed a hurdle or two down the backstretch

while draping his country’s flag behind him. “I wanted to show people that big guys are not just heavy and strong. We can also run,” Stahl said. The second-best celebration came from the Ethiopian fans—one of the few contingents that has made it en masse to Doha, where plenty of good seats have been available all week. Two full, flag-waving sections in the southeast corner of the stadium went crazy when Muktar Edris won the men’s 5,000 for his second straight title. Later, over in that same corner, 18-year-old high jumper Yaroslava Mahuchikh of Ukraine secured the silver medal and celebrated as though she’d won. After she cleared 2.04 meters, she grabbed Ukraine’s yellow and blue flag and started parading around the corner of the stadium, then put her sweats on to call it a night. Having already jumped a personal best, which was

also an under-20 world record, she didn’t even bother going to the next height. That handed the win to Russian Mariya Lasitskene, who had cleared the same height in fewer tries to secure her country’s second gold medal of the championships—although she is officially a neutral athlete because Russia is banned for doping. “I was very happy to have silver,” Mahuchikh explained. “I had a personal best. I’m young, and 2 meters and 6, it’s maybe [something for] later.” There was guaranteed to be a new winner in the 800 meters with Caster Semenya sitting this one out over the controversial IAAF decision that would have required her to medically reduce her natural testosterone level in order to compete. That the winner would not be American Ajee Wilson— or pretty much anyone in the field other than Uganda’s

$3.5-million payment to an IAAF official. Hours before Fraser-Pryce’s night of glory, Athletics Integrity Unit officials were in the stadium to talk about— among other areas of concerns—potential misconduct in Doha’s bid. “It is an area that is an area of concern, not only to us, but to others,” AIU head Brett Clothier said, discussing the cooperation with French prosecutors. When initially bidding for the 2017 worlds, Doha made a bold pledge to the IAAF: “No empty seats.” Every session would be sold out, the prospectus said. Three days into these championships, the stadium which could fit 40,000 people is yet to be full. Tens of thousands of seats are covered with fabric featuring the competition branding. Even for the men’s 100-meter final on Saturday night— the centerpiece of the championships—the fans were vastly outnumbered by empty seats. “The IAAF need to learn and get better, fill up stadiums and make athletics a more interesting sport,” said Akani Simbine, the South African who finished fourth in the 100-meter final. “That’s the thing they need to figure out.” Eurosport, which holds Olympics rights across Europe, mocked the lack of crowd for women’s sprint final. “The Doha crowd roars with approval,” Eurosport tweeted with a GIF of tumbleweed. Broadcasting from a set in the stadium, former athletes broadcasting on the BBC rounded on the organizers. “Our governing body has let our athletes down massively,” said Denise Lewis, the heptathlon gold medalist at the 2000 Olympics. But Dina Asher-Smith was careful not to criticize organizers after sealing silver to become the first British woman to win an individual world sprint medal. “I definitely wouldn’t call it sad. You shouldn’t be so negative,” Asher-Smith said. “I think that every country has a different kind of culture and bias toward events.” This is the first time the IAAF has taken its world championships to the Middle East. “It’s one of the great things about taking athletics to different parts of the world,” Asher-Smith said, “because hopefully we are opening ourselves up to a global audience and dragging in some new fans.” Just not many, at least, in the country hosting the event. “The stadium was empty and it’s really disappointing,” said Olympic pole vault champion Katerina Stefanidi, who won world bronze on Sunday. “I was all for bringing athletics to the Middle East and to different environments but maybe we’re not promoting it enough or not promoting it to the right people. It’s very sad.”

Halimah Nakaayi—came as quite a shock. To everyone but Nakaayi, that is. “I expected it because it has been a long preparation,” said Nakaayi, who hadn’t finished better than third at any international meet this year and who didn’t make it out of the semifinals at the 2017 worlds. “Every competition, I’ve been learning how to race.” Same for Kenya’s Beatrice Chepkoech, the steeplechase winner, who had been in the lead pack two years ago but missed the curve leading to the water jump and had to double back, costing her precious time and energy in a race eventually won by America’s Emma Coburn. Chepkoech learned her lesson, and won this time, in eight minutes, 57.84 seconds—4.51 seconds ahead of Coburn, who took silver. “I was disappointed for missing the barrier, falling down, but it was only the second time I had run the race,” Chepkoech said of the 2017 mistake. “When we practiced at home, we didn’t have a water pit. But, finally, I got it straight.” AP

Spo

Business

Wednesday, October 2, 2019

3-GAME SUSPENSION FOR PERASOL U

By Ramon Rafael Bonilla

niversity of the Philippines (UP) Head Coach Bo Perasol was slapped a hefty three-game suspension for his outburst in the Fighting Maroons’ game against the Blue Eagles last Sunday in the University Athletic Association of the Philippines (UAAP) men’s basketball tournament at the Smart Araneta Coliseum. Perasol lost his cool over what he saw was a non-call and fumingly charged at the referees with a clenched fist. He was banished from the court for an automatic one-game suspension. But basketball commissioner Jensen Ilagan upped the penalty to three games citing the gravity of Perasol’s act. “After thorough review and careful deliberation made by the technical committee, we deemed it fit for a penalty of three-game suspension handed to Coach Bo Perasol for his actions in the game between Ateneo de Manila University and the University of the Philippines last Sunday,” Ilagan said in a UAAP statement. Perasol later explained that his anger stemmed from an incident where UP’s Bright Akhuetie got called for his third personal foul.

ignal made quick work of Sta. Lucia, 25-18, 25-23, 25-14, to complete its sweep of Pool A in the Philippine Superliga Invitational Conference on Tuesday at the Santa Rosa Multipurpose Sports Complex in Laguna. The HD Spikers continued to show their strong connection as they scored another three-set win after dominating the Lady Realtors in 80 minutes to stay perfect in three games. National team member Mylene Paat shone as she delivered 12 points off nine kills, a pair of aces and a block, while Rachel Anne Daquis had 10 points and 16 digs to boost the HD Spikers’ semifinal bid. Do-it-all setter Alohi Robins-Hardy also paced the team with 14 excellent sets on top of eight markers, while Jheck Dionela protected the floor with 17 digs and eight excellent receptions. After sweeping a 3-0 start, Cignal skipper Daquis said they couldn’t let their guards down as they join Petron, PLDT and Marinerang Pilipina in Pool C for the next round, where the top 2 squads advance to the knockout semifinals “We can’t be complacent because every game is important in this short conference,” said Daquis, who led a strong second set comeback from a 16-22 deficit. “After we realized it in the second set, the team woke up and became motivated to try to finish it in straight sets and give our best.”

The punishment was based on Article 9.2.1 of the UAAP General Tournament Guidelines 2019 which states: “A student-athlete, coach, trainer, or team manager, team official or any accompanying delegation member who is disqualified, thrown out of or ejected from unsportsmanlike behavior from the game by the concerned game official shall not be allowed to play in the immediately succeeding game. Should said game be canceled, the suspension will be served in the game that immediately follows.” The additional sanction of two games, Ilagan said, was for Perasol’s “continuous flagrant acts of aggression” on the referee. Ilagan reminded the teams to keep their cool and avoid such behavior inside the court. “May this incident be an example for players and coaches alike to exhibit tremendous restraint and discipline, not just toward officials but everyone on the court. We’d also like to remind the teams that there are proper avenues to raise these contradictions and complaints to protect the sanctity of the game we all love,” he said. Perasol will miss UP’s games against Far Eastern University on October 6, University of the East on October 12 and University of Santo Tomas on October 16.

Red Lions zero in on elims sweep an Beda University stepped on the gas in the third quarter to clobber Letran, 75-63, and stay on course to a sweep in the elimination round in the National Collegiate Athletic Association Season 95 seniors basketball tournament on Tuesday at the Filoil Flying V Centre in San Juan City. Most Valuable Player frontrunner Calvin Oftana erupted in the middle quarters to power as the defending champions roared to a 20-0 run that snuffed the life out of the Knights.

CIGNAL SWEEPS

Oftana scored 16 points spiked by three triples and six rebounds for the Red Lions, who need three more winds to sweep the 18-game eliminations. “It’s really the players who worked hard for this. Our defense showed up after they had an 8-0 run. At least we recovered from that,”San Beda Head Coach Boyet Fernandez said. “We went back to our defensive mentality and made some stops, and we had a 20-0 run. It’s just the effort of the players.” San Beda caught Letran by surprise for a 17-1 start. That

ANGELS VS. CHEF’S

UNIVERSITY of Perpetual Help’s Edgar Charcos tries to shake off Emilio Aguinaldo College’s CJ Cadua NONOY LACZA

didn’t last long as the Knights responded with an 8-0 run that leveled the game at 42-all with 6:21 left in the third quarter. The Mendiola-based squad countered with those 20 unanswered points to end the period. Clint Doliguez added 13 points, while Evan Nelle and James Canlas registered 12 apiece for the Red Lions. Larry Muyang topscored for Letran with his 13 points that went with five rebounds. The team fell to 9-6. Emilio Aguinaldo College, meanwhile, won its second

straight game, 80-76, over University of Perpetual Help in the day’s other game. Jethro Mendoza scored most of his 22 points in the payoff period for the Generals who improved to 3-11. The loss was the Altas’ fifth consecutive to drop to 3-10. Ramon Rafael Bonilla

halk up another win for a streaking Petro Gazz side as the Angels take on winless Chef’s Classics on Wednesday as Choco Mucho tries to fuel its own semis drive against Motolite in the Premier Volleyball League Open Conference at the Filoil Flying V Centre in San Juan. The Angels haven’t dropped a match since yielding a shutout loss to arch rivals Creamline Cool Smashers last August 24, romping past the PacificTown Army Lady Troopers and the Air Force Jet Spikers, nipping the Flying Titans in five then ripping the Motolite, Chef’s Classics and BanKo-Perlas sides to move to second at 7-2. That installs the Reinforced Conference champions as the heavy favorites to score a repeat of their straight-set win over the Red Spikers, who remained in search for a first victory after 13 games in their maiden stint in the seasonending conference of the league organized by Sports Vision. Gametime is at 6 p.m. after the 4 p.m. clash between Choco Mucho, back in the semis hunt with a three-game run, and Motolite, out to rebound from a straight-set loss to BanKo-Perlas last weekend. While Creamline, unbeaten in 11 games, is assured of at least a playoff for one of the semis berths, the fight for the other three slots in post-elims play remains as tight and fierce as ever with six teams in the thick of the battle.

orts

sMirror

Wednesday, October 2, 2019 C3

CAN VIES IN DAVAO T

arik Can hopes to bring his winning act to the home of the country’s premier players as the power-hitting American braces for a grueling four-day battle with the country’s best in pursuit of a second championship in the International Container Terminal Services Inc. (ICTSI) Apo Golf Challenge which gets on Wednesday at the Apo Golf and Country Club. Can edged Thailand’s NIrun Sae-Ueng in sudden death to snare the Aboitiz Invitational crown of the Philippine Golf Tour (PGT) Asia at Wack Wack last month with the bearded former Augusta State mainstay beefing up the formidable cast all coming into the P3-million tournament sponsored by ICTSI in top form. They include Reymon Jaraula, who bucked the odds, including veteran Tony Lascuña in the playoff to nail his maiden win at Pueblo de Oro three weeks ago; Jhonnel Ababa, who dominated the ICTSI Del Monte

Championship the following week; and Lascuña, who snapped a long spell with a tough victory in PGT Asia leg in Taiwan last Sunday. That guarantees a fiery chase for first day honors in the 72-hole championship serving as the third of the fourstage Mindanao swing of the circuit organized by Pilipinas Golf Tournaments Inc. with the homegrown talents, aside from Lascuña and Ababa, also raring to cash in on their local knowledge of the quaint layout which hosted the Philippine Open in 1995. They include Elmer Salvador, Elmer Saban, Mhark Fernando, Rufino Bayron, Ferdie Aunzo and Jay Bayron, who hopes to end a string of so-so finishes here and abroad with a strong start and a stronger finish in the event backed by Custom Clubmakers, Meralco, Champion, Summit Mineral Water, K&G Golf Apparel, BDO, Sharp, KZG, PLDT and MY Shokai Technology. Reigning Philippine Open champion Clyde Mondilla

wavered in the end with Princess Superal ending up tied for 16th after crowding the leaders with a 70 start. But Pauline del Rosario, Cyna Rodriguez, Daniella Uy, Marvi Monsalve and rookie pro Chanelle Avaricio all expressed confidence while stressing the need to come up with a strong start on the rolling layout with reachable par-5s but with tough putting surface where the title chase could be decided on Friday. Del Rosario is first to set out at 9 a.m. on No. 1 with the former three-time LPGT Order of Merit (OOM) champion facing off with local amateur Fei-Chien Yang and Korean Hwang Min-Jeong, a very familiar

PSC intensifies SEA Games preparations

is also confident of crowding the fancied names with an equally fine showing at Del Monte while young Ira Alido also hopes to cap a string of top 5 finishes with a victory this week. Rookie pro Fil-Am Sean Talmadge also brims with confidence coming off an impressive joint 17th-place finish in Nan Pao TPGA Open, with the long-hitting 27-year-old product of San Jose State U in California expecting to be in the mix right from the start. American Lexus Keoninh also seeks to put an end to a long title quest along with a strong start, along with Aussie Fidel Concepcion, compatriots Riley Keagle and Greg Gonzalez, Makoto Iwasaki, Ryo Nishimura, Kei Matsuoka and Taisei Mochita of Japan, Korean Park Jun-sung, Argentina’s Emilio Parodi, Rafael Parra of Venezuela, Peter Stojanovski of Macedonia, Thai Pachara Sakulyong and Dutch Guido van der Valk, winner of the kickoff leg of the milestone 10th season of PGT last June.

FILIPINA aces aim high in Taiwan

IAOLI County, Taiwan—Five Filipinas drew starts in sequence, each ready to slug it out with some familiar faces and new rivals making up the crack Ladies Professional Golf Association Tour of Taiwan (TLPGA) roster at the start of the Party Ladies Golfers Open at the National Golf and Country Club on Wednesday. The Ladies Philippine Golf Tour (LPGT) also cosanctioned this $100,000 event with TLPGA last year, the former’s first tournament abroad as part of Pilipinas Tournament Inc.’s commitment to develop and boost Philippine ladies pro golf, although the then five-player group

Ramirez

rival back home who actually won the last LPGT leg at Summit Point in Lipa City, Batangas last August. Rodriguez tees off 9:20 a.m. with Ching Ling Chang of Taiwan and Wannasiri Sirisampant, also a former LPGT winner and one of the Thai aces tipped to contend in the 54-hole championship which also serves as the final leg of the busy seventh season of LPGT, which featured four other TLPGA cosanctioned tournaments, including the inaugural The Country Club Invitational which headed by no less than former world No. 1 Sung Hyun Park of South Korea. Uy, who failed to break par with 77-

Daniella Uy and her teammates are confident of their chances.

74-73 and wound up tied at 45th here last year, is also raring to go against Thai veteran Saraporn Chamchoi and Taiwanese Hsin Lee, the No. 6 ranked player in the current TLPGA OOM standings. Avaricio also seeks to turn in an inspiring start to a new career, his confidence toughened by a stint in the recent LPGA Qualifying School. She plays Thai Ornnicha Konsunthea and Taiwanese Yi-Ching Wu at 9:50 a.m. before Monsalve launches her drive next at 10 a.m. in the company of Thais Supakchaya Pattaranakrueng, also a former LPGT leg winner, and Pattaraporn Mounchoo.

HE Philippine Sports Commission (PSC) vowed to ramp up its preparation with barely two months left before the country’s hosting of the 30th Southeast Asian (SEA) Games. PSC Chairman William “Butch” Ramirez said the agency is now working doubly hard to expedite the procurement of sports equipment and finish the sports facilities under its management in preparation for the biennial meet set from November 30 to December 11. The government allotted a total of P6 billion for the staging of the Games. Half of this amount goes to the procurement of sports equipment, which will also go through the Department of Budget and Management in accordance to the accounting rules and regulations of the Commission on Audit (COA). Ramirez admitted that time is running out, but they would still make sure to expedite the process with the help of the COA so that the equipment of all 56 sports would be purchased as soon as possible. “I was given the marching order by our President to come up with a successful SEA Games hosting,” said Ramirez, who also serves as chief of mission of Team Philippines. “We are embracing all these challenges because we know that this is a national endeavor and the pride of the country is on the line,” he said. “We would do everything to make sure that we would have a memorable and successful hosting of the Games.” The last time the country hosted the SEA Games was in 2005. Ramirez, who was also the PSC chairman at that time, also served as the chief of mission, leading the national squad to the overall crown with 113 gold, 84 silver and 94 bronze medals. It was the first time for the country to win the overall title and Ramirez is leaving no stone unturned in duplicating the same feat.

Sports BusinessMirror

Al Mendoza alsol47@yahoo.com

| Wednesday, October 2, 2019

mirror_sports@yahoo.com.ph Editor: Jun Lomibao

THAT’S ALL

How I got to New York the first time

The first-in-the-nation law, set to take effect in 2023, could upend amateur sports in the US and trigger a legal challenge. AP

FLOODGATES OPEN By Adam Beam

The Associated Press

ACRAMENTO, California—Defying the NCAA, California opened the way Monday for college athletes to hire agents and make money from endorsement deals with sneaker companies, soft-drink makers, car dealerships and other sponsors, just like the pros. The first-in-the-nation law, signed by Democratic Gov. Gavin Newsom and set to take effect in 2023, could upend amateur sports in the United States and trigger a legal challenge. Newsom and others cast it as an attempt to bring more fairness to big-money college athletics and let players share in the wealth they create for their schools. Critics have long complained that universities are getting rich off the backs of athletes—often, black athletes struggling to get by financially. “Other college students with a talent, whether it be literature, music, or technological innovation, can monetize their skill and hard work,” the governor said. “Student athletes, however, are prohibited from being compensated while their respective colleges and universities make millions, often at great risk to athletes’ health,

academics and professional careers.” Newsom predicted other states will introduce similar legislation. The NCAA—which had called on him to veto the bill, arguing that it would destroy the distinction between amateurs and pros, and give California an unfair recruiting advantage—said it is considering its next steps. It did not elaborate. In a statement, the NCAA said it is working to revise its rules on making money off a player’s name and likeness. But it said any changes should be made at the national level through the NCAA, not through a patchwork of state laws. California’s law applies to students at both public and private institutions—but not community colleges—in the nation’s most populous state. While the measure covers all sports, the big money is in football and basketball. Student athletes won’t get salaries. But under the law, they can’t be stripped of their scholarships or kicked off the team if they sign endorsement deals. There are some limitations: Athletes can’t enter into deals that conflict with their schools’ existing contracts. For example, if your university has a contract with Nike, you can’t sign with Under Armour. The law represents another instance

of California jumping out in front of other states when it comes to social and political change. The movement to allow student athletes to profit from their labors on the court or the playing field has been simmering for years, portrayed as a matter of economic fairness and civil rights. “A majority of these athletes, it’s no secret, are African American,” said Sen. Steven Bradford, a coauthor of the bill who is black. “It’s an issue of fairness, and it’s an issue that has been long overdue.” Newsom tweeted a video showing him signing the law during a special episode of HBO’s The Shop: Uninterrupted alongside NBA superstar LeBron James, one of many professional athletes who have endorsed the measure. James, whose 14-year-old son is a closely watched basketball prospect in Los Angeles and will be 18 when the law takes effect, exulted over its signing on Instagram, saying it will “change the lives for countless athletes who deserve it!” He added: “NCAA, you got the next move. We can solve this for everyone!” National Basketball Association (NBA) rookie Jordan Poole of the Golden State Warriors also welcomed the new law. Six months ago, as a player at the University of

Michigan, he hit a game-winning shot at the buzzer in the second round of the NCAA tournament as millions watched on TV. “I know for sure I would have been using my name after that Houston shot,” he said. His teammate, three-time NBA champion Draymond Green, went further. “The NCAA is a dictatorship,” the former Michigan State star told reporters Monday. “I’m tired of seeing people get ripped off, and I’m tired of seeing these college athletes being ripped off.” Before the governor signed the law, the NCAA threatened to bar California universities from competition, meaning powerhouses, such as the University of Southern California, UCLA, Stanford and the University of California, Berkeley, could find themselves banned. If that were to happen, California schools could form a new governing body and get schools from like-minded states to join, in a threat to the NCAA’s dominance. But the governor, a former college baseball player, said he doubts the NCAA would kick California schools out, arguing that the state’s 40 million people and status as the world’s fifth-largest economy make it too big to lose. The NCAA “can’t afford to do that,” he said. Democratic state Sen. Nancy Skinner,

the bill’s author, said it could especially help female athletes, who have limited opportunities for professional sports once they leave college. “College is the primary time when the spotlight is on” them, Skinner said. “For women, this might be the only time they could make any money.” NCAA rules bar players from hiring agents. The NCAA has also steadfastly refused to pay players in most cases. But a committee is studying other ways players could make money. Its report is expected in October. The NCAA does let some athletes accept money in some instances. Tennis players can accept up to $10,000 in prize money per year, and Olympians can accept winnings from their competitions. Also, many schools pay players yearly cost of living stipends of $2,000 to $4,000. “We just kind of joked every kid is going to want to go to college out here in Cali now,” Warriors forward Glenn Robinson III, who played college ball at Michigan, said of the new law. “I think it’s time. A lot of people are waking up and starting to see how much money that these universities are making off of players,” he added. “Where I went to school, a lot of players couldn’t afford lunch.

McIlroy, Els take swing at European Tour for course setups

ONDON—Two of the biggest names in golf have taken a swing at the course setups on the European Tour, saying they need to be tougher to test the best players. Rory McIlroy was the first to vent his frustration, saying after the final round of the Alfred Dunhill Links Championship on Sunday that “there are no penalties for bad shots” and “I don’t feel good golf is rewarded, as well as it could be.” “I’m sick of coming back over to the European Tour and shooting 15 under par and finishing 30th,” said the No. 2-ranked McIlroy, who actually finished in a tie for 26th on 15 under at the Dunhill Links in Scotland—seven shots behind the winner, Victor Perez. McIlroy clarified his comments in an Instagram post on Monday, saying “strategy, course management and shot-making” were key aspects of golf being taken out of the game not just in Europe but across the world. “I would personally like to see tougher setups in Europe,” McIlroy

RORY MCILROY: There are no penalties for bad shots. AP

wrote, “because it will produce better, more complete, young players in the future and that can only be a good thing for the game and our Ryder Cup chances.” Ernie Els, another four-time major winner, came out in support of McIlroy on Monday and used as an example the reaction of some European Tour players in 2010 to his redesign of the West Course at Wentworth. “Had so much blowback from players,” Els wrote on Twitter, “we had to ease up and

now 20-under wins.” Els said the biggest events “need courses ‘major’ tough. Test the best!” McIlroy, who mostly plays on the PGA Tour, also referred to his 34th-place finish at the Scottish Open in July after being 13 under par overall. That left him nine strokes behind the winner, Bernd Wiesberger. The European Tour said it would not be responding to the criticism of McIlroy and Els. AP

NEW YORK CITY—I can’t help but drop by memory lane. My first trip here was attended a bit by weird circumstances. It was 1982. I had no plan whatsoever in flying here that year. But enter Florencio Campomanes, a dear friend of mine who had passed on some years back. His closest friends love to call him simply as Campo. Poignantly, Campo breathed his last in Baguio, spending the winter of his checkered life in a room of a charming hotel by a ridge. His refuge was exclusively remodeled by Des Bautista, the hotel owner. Des, the dyed-in-thewool lover of life, together with his beloved Auring, are Campo’s prized friends from the Mountain City. “Your name was always in Campo’s lips in the last days of his life,” said Des, an art connoisseur who could handle his drink opposite that of Wyatt Earp. Campo and I have had wonderful times together. We were in Itoo City, Japan, in 1978 for the Asia-Pacific Chess Championship, downing a bottle of Ukraine vodka he had bought in Kiev. Just the two of us. Killing the nippy wintry of February in the dead of night with a drink so neat that the blood boiled. We were in Dubai and Moscow for Chess Olympic missions but, yes, it was in Lucerne, Switzerland, where all matters of chemistry germinated between us. “We are going to Switzerland,” he said to me over vodka and tonic. “How does that sound to you?” Lucerne in Switzerland was to host the Chess Olympics in 1982. But more than the tournament was the election that year of the president of the World Chess Federation. Campomanes was to gun for the top Fide post. “It’s a tough challenge but with your help, I believe I can win it,” he said. I did some campaigning using my crude Spanish to woo votes from South America, a big block in the voting strata. To cut the long story short, Campo won by a landslide over Fridrik Olafsson of Iceland, becoming the first Filipino—and Asian, for that matter—to achieve the monumental feat. Our Philippine Team that year led, as usual, by Eugene Torre, finished I guess in the top 20—a decent result if only because of the sheer number of more than 100 countries in attendance. Did I head for home after Campo’s victory, after the tournament? No. I had to fly out of Lucerne for Brussels, Belgium. From there, on to the Big Apple. “I got that kind of ticket so that you could proceed to New York from Switzerland,” said Campo weeks before we flew to Europe. “That’s a bonus for you, I believe. You will like it, right?” I did, so that I quickly applied for a US visa. I got it in no time. Journalists are historically spoiled at the embassy. But here was the catch. My airline, Belgium’s flag-carrier Sabena, would always use Brussels as a takeoff point to any destination I went to. So, to get to New York, I departed from Brussels. From New York to Manila, I needed to fly first to Brussels before I could head back to home sweet home. Hassle? Not really. It’s called trust in your friend’s judgment. And besides, if you are young, adventure knows no exhaustion. THAT’S IT A visit to Moma is on tap and either Beautiful or Hadestown at Broadway is a mustwatch. See you around.

Tokyo 2020: 6,900 tickets bought through fraud

OKYO—Tokyo Olympic organizers are investigating the fraudulent purchase of 6,900 tickets worth ¥180 million ($1.67 million) that were obtained in an online lottery for Japan residents. “We are consulting with the police on this matter, and if there are other cases where unauthorized purchases are suspected, we will deal with those as needed,” Tokyo organizers said in a statement Monday. Organizers were in the process of voiding the tickets but did not suggest who was involved. They said they were bought using fraudulent IDs. Ticket interest in next year’s Tokyo Olympic is unprecedented with demand at least 10 times above supply, and probably much greater. Earlier this year Japan passed a law that prohibits ticket scalping, with a ¥1-million ($9,100) fine and a one-year jail term—or both. However, the law has large loopholes and does not apply to tickets distributed for free or given away as gifts, or tickets without a

purchaser’s name. This applies to many tickets coming from the International Olympic Committee, the 206 national Olympic committees, or major sponsors. In a separate matter, organizers have announced the results of their latest ticket lottery for Japan residents. The outcome is much like the first lottery in May: tickets are very tough to get, and many in Japan will be left out. Organizers say 1.4 million people applied in the August phase, and only 120,000 were successful landing 350,000 tickets. Tokyo organizers say they have now sold 3.57 million tickets to Japan residents in both lotteries. The Japanese general public is slated to get between 70 percent to 80 percent of the estimated 7.8 million tickets that are listed as available. The rest are for sale outside Japan

through Authorized Ticket Resellers—the Olympic agents contracted to sell tickets outside Japan—or go to sponsors, national Olympic committees, sports federations and dignitaries. Organizers are planning another lottery this fall for Japan residents but have declined to say how many tickets will be available. Tokyo is a reversal from recent Olympics in Rio de Janeiro and Pyeongchang, South Korea, when tickets were unsold and many events were poorly attended. That won’t be the case with 35 million people in Greater Tokyo looking to attend. The demand is widely reported to be driving up hotel prices. Tickets sales are projected to raise about $800 million for the organizing committee’s operating budget of $5.6 billion. AP

Holy God

EAR God, You are our refuge in every time and place. In faith we pray: God, in Your wisdom, hear our prayer. Enlighten us to find our treasure in Your word, and prosper the work of evangelists and missionaries. Protect refugees from forced familial separation and inspire us to seek You in those who seek safety. Welcome into the light of Your face all who have gone before us in faith. May God purify our minds and hearts in Christ Jesus and grant us to one day share in Christ’s glory. Amen. GIVE US THIS DAY SHARED BY LUISA LACSON, HFL Word&Life Publications • teacherlouie1965@yahoo.com

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

Life BusinessMirror

FOR BEN PLATT, A PERFECT PITCH LEADS TO ‘THE POLITICIAN’ D3

Wednesday, October 2, 2019

Amazon offers a way to delete Alexa recordings automatically IN this September 27, 2017, file photo, Amazon Echo and Echo Plus devices, behind, sit near illuminated Echo Button devices during an event announcing several new Amazon products by the company in Seattle. Users of Amazon’s Alexa digital assistant can now request that recordings of their voice commands be deleted automatically. AP

BY JOSEPH PISANI The Associated Press

EW YORK—Users of Amazon’s Alexa digital assistant can now request that recordings of their voice commands delete automatically. Amazon says it saves such commands to improve the service. But the practice has raised concerns with privacy experts who say the recordings could get into the wrong hands, especially as Amazon and other companies use human reviewers rather than just machines. Previously, users had to go into Alexa’s settings and delete recordings manually. Users can now ask Amazon to automatically delete recordings after three months or 18 months. But users need to specify that in the settings, as recordings are kept indefinitely by default. And there’s no automatic option for immediate deletion. Users would still need to do that manually. When users ask for automatic deletion, a warning will pop up saying that doing so could degrade Alexa’s ability to respond or understand users. Amazon will also let users request deletions through an Alexa voice command. The use of human reviewers will continue. Tech companies have been reviewing their practices in light of privacy concerns. There’s greater concern when humans are involved because of the potential for rogue employees or contractors to leak private details embedded in the voice commands. When Facebook starts selling a new version of its Portal video-calling gadget next month, the company will resume using humans to review voice interactions with the device. Users will be able to decline, or opt out. People on existing devices will get a notification pointing them to the appropriate settings. New Portal users will get the option when setting up.

Human reviews involving Facebook’s Messenger app elsewhere remain suspended as Facebook reexamines the privacy implications. Google is also restarting the practice of reviewing voice commands to improve its digital assistant, though it’s now making it clear human transcriptionist might listen to recordings. The company also said it will delete most recordings after a few months, and people can review their recordings and delete them manually at any time.

Apple, which suspended the practice with Siri, also plans to resume it this fall, but only after getting explicit permission. Apple would not say how it will seek permission. As with Amazon, Microsoft didn’t suspend the use of human reviewers. In response to concerns, Microsoft added language in its frequently asked questions for Skype to say that using the translation service “may include transcription of audio recordings by Microsoft employees and vendors.” ■

Coming soon: Alexa in your ear and on your finger NEW YORK—Amazon wants Alexa everywhere. The online shopping giant said on Wednesday that it will soon start selling wireless earbuds, finger rings and prescription eyeglasses with its Alexa voice assistant built in. The goal: Get Alexa outside the home and wherever customers are. “You can have Alexa with you 24/7,” said Werner Goertz, a personal technology analyst at Gartner. It also launched its first celebrity voice

for Alexa: actor Samuel L. Jackson. For $4.99, Alexa users can now ask Jackson to sing them “happy birthday” or tell them the weather. There will be a “clean” version for those who don’t want to hear Jackson curse. Amazon said other celebrity voices will be added next year. While Amazon has succeeded in getting people to buy its voice-activated Echo speakers for their living rooms or kitchen counters, it hasn’t found that same success outside the home.

Rivals Apple and Google have smartphones, watches and other devices that have their voice assistants built in. But Amazon’s smartphone failed to catch on and was discontinued several years ago. With the Echo Buds, which cost $130, users can order an Uber ride or find the nearest coffee shop as they stroll down the street. And later this year, Whole Foods shoppers wearing the black buds can ask Alexa what aisle they can find canned tomatoes or other groceries.

Its Echo Frames eyeglasses and Echo Loop ring can do similar tasks, but both have a button that needs to be pressed before speaking to Alexa. For now, Amazon said it will sell a limited number of the glasses and rings to those invited to buy them and provide feedback on improving them. The company also unveiled several other products at the launch. Among them: a $30 multicolored lamp that pairs with Alexa and a $250 voice-controlled oven that can warm, cook or air-fry food. AP

Huawei debuts phone without Google apps as US sanctions bite BY JONA KALLGREN & KELVIN CHAN The Associated Press MUNICH—Huawei launched a new flagship smartphone recently, but it comes without popular Google apps such as Chrome or YouTube after US sanctions kicked in, limiting its appeal to consumers. The Chinese tech giant’s Mate 30 phone series, including one for new 5G networks, runs on an open source version of Google’s Android operating system, which by default doesn’t come preinstalled with the US company’s suite of popular apps and services that licensed versions have. It also doesn’t come with the Google Play Store, the main way users outside China can access Android apps. Richard Yu, CEO of Huawei’s consumer business, told reporters after the launch that consumers “can download [the apps] by themselves” from third-party sites. “For us, we can’t really install the apps.” Huawei, the world’s second-biggest smartphone maker, is fighting to save its business after the Trump administration blocked access to US components and technology in May on national security grounds. Washington has issued temporary exemptions that let Huawei maintain software for existing devices, but they don’t cover new products such as the Mate 30. The Mate 30, powered by Huawei’s new Kirin 990 advanced chipset, sports a four-camera system and screen that curves nearly 90 degrees around its long edges, for a

borderless effect. Prices start at €799 ($880). Huawei is using its own, stripped-down version of Android, whose basic code is provided free of charge by Google. The Chinese company’s phones are popular in Europe and Asia, but little known in the US, where its telecom switching gear has been effectively blocked for years over fears it could be used for spying by China’s communist rulers. The Mate 30 will go on sale next week in China, but won’t hit European stores until next month as the company gathers consumer feedback, said Yu. He said the company hadn’t expected the trade dispute to last so long when it was planning the launch. “This US-China trade war delayed us and is still not stopping, so we’ve become the bargaining chip between two great nations,” Yu said. Losing access to Google’s mobile apps will make it harder for Huawei to battle Samsung for top spot in the mobile phone market, because it will be less attractive to wireless carriers, said Jean Baptiste Su, principal analyst at Atherton Research. “I don’t think operators will risk having millions of disappointed customers that rely on Google services [who] see it doesn’t work on their brand-new devices,” he said. In a bid to reduce reliance on Google, Yu said Huawei is spending $1 billion encouraging global developers to make apps compatible with its own app gallery, which is mainly used in China. It will take a 15-percent commission, compared with 30-percent rivals such as Apple charge, he said.

Microsoft accounts of corporate users targeted with voice message scam KASPERSKY researchers have reported on a large-scale malicious e-mail campaign, aimed at stealing Microsoft services user accounts credentials, which could allow attackers access to private corporate information, such as business correspondence. Based on an elaborate spam message, the campaign targets employees of large companies that use business messengers with a function to exchange voice messages and receive notifications of new ones via corporate e-mail. The body of the e-mail typically contains the time the voice message was sent, its duration, and a preview of the message in the form of a short phrase, such as, “Just checking to remind you in regards to our....” To listen to the message, the recipient is asked to follow what is actually a phishing link that leads to a fake authorization page of one of several popular Microsoft services. This could be the log in page for an Outlook e-mail client or a basic Microsoft account. Once the user’s credentials are entered, fraudsters capture them and redirect their unsuspecting victim to the real voice message service for the business, distracting them and leading them to believe the e-mail was merely an innocent promotion of the service. “We’ve recently observed a significant increase in the number of spam attacks on the corporate sector. In most cases, they attempt to hack into employees’ e-mails through missed or undelivered messages to access private corporate information that the accounts could reveal. Obviously, missing an important message is a constant fear for employees of large companies, as it can affect vital business processes. Therefore, such attacks are likely to have a successful outcome for fraudsters,” said Maria Vergelis, security researcher at Kaspersky. “The targeted employees, afraid to lose notification in a huge stream of business correspondence, are understandably tempted to follow malicious links and enter their data. We urge all employers to educate their teams on basic cybersecurity hygiene to avoid becoming a victim of such scams,” added Vergelis. To protect users and businesses from malicious e-mail campaigns, Kaspersky recommends: ■ Always check the link address and the sender’s e-mail before clicking on anything ■ Check if the link address can be seen in the e-mail and is the same as the actual hyperlink (the real address which the link will take you to). This can be checked by hovering your mouse over the link ■ Use a reliable security solution with behavior-based antiphishing technologies, such as Kaspersky Total Security (www.kaspersky.com/total-security), to detect and block both spam and phishing attacks, and initiation of malicious files.

Pet Corner BusinessMirror

Wednesday, October 2, 2019

Service dog whose story raised awareness of PTSD has died Tuesday, a golden retriever, gained fame as a service dog and was the subject of several books written by Luis Carlos Montalvan, an Iraq War veteran who credited the dog with helping him deal with posttraumatic stress disorder. Tuesday died on September 23. AP

Today’s Horoscope By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Kelly Ripa, 49; Sting, 68; Annie Leibovitz, 70; Donna Karan, 71. Happy Birthday: Work through your emotions this year. If you let things fester, they will deter you from reaching your potential. Don't sweat the little things; deal with them and keep moving forward. It will show strength of character and the willingness to become the spokesman when your beliefs are challenged. Stand up and be counted. Actions speak louder than words. Your lucky numbers are 3, 10, 18, 21, 26, 32, 45.

By Pat Eaton-Robb The Associated Press

ARTFORD, Connecticut—A service dog that was the subject of several books by an Iraqi war veteran who suffered from post-traumatic stress disorder (PTSD) has died. Tuesday, a golden retriever, was 13 when he died Tuesday in Burlington, according to Educated Canines Assisting with Disabilities (Ecad), a service dog training organization that places dogs with veterans. Tuesday gained fame touring the country with former US Army Captain Luis Carlos Montalvan, who wrote the memoir Until Tuesday: A Wounded Warrior and the Golden Retriever Who Saved Him. The book, the first of four written by Montalvan about his life with Tuesday, became a best seller in 2011. It was credited with helping raise awareness of PTSD and the availability of service dogs for veterans. Montalvan was a decorated veteran, who was wounded in Iraq, and earned two Bronze Stars and a Purple Heart. After he came home, his extreme PTSD often prevented him from even leaving his apartment, said Dale Picard, cofounder and executive director of Ecad. But that changed when he received Tuesday. The dog would nudge him awake when he had night terrors, or explore the house when Montalvan became concerned someone may have broken in, Picard said. He also would bring Montalvan his medication case when it was time for him to take his prescriptions. “Tuesday kept him calm, kept him so he could function,” Picard said. “He began to participate in life again. Before this story, not a lot of veterans were receiving service dogs, because it wasn’t well known how much benefit they would be.” Montalvan became a leading advocate for military veterans’ mental health and increasing access to more service animals. Since the book’s publication, Ecad has placed more than 40 other dogs with veterans, Picard said. Montalvan took his own life in 2016. He had left Tuesday with family members and the dog was not with him at the time. Tuesday was later placed as a service dog with a Connecticut cancer patient. He died in the arms of that man, Gordon Schafer, at their home after being diagnosed with a mass in his abdomen. n

ARIES (March 21-April 19): An emotional situation will hinder your ability to be productive if you don't face the challenges you encounter head-on. Heated discussions may not be fun, but they will get matters out into the open and help you find out where you stand. HH

TAURUS (April 20-May 20): A last-minute change of plans will be beneficial, so don't make a fuss over nothing. Look on the bright side, and turn a negative into a positive. Your ability to adapt and move on will lead to an unexpected opportunity. HHHH

GEMINI (May 21-June 20): Be helpful. Offer unique suggestions, but don't take on the physical stress of doing all the work. There is a fine line between taking over and being taken advantage of. HHH

CANCER (June 21-July 22): Emotions will surface and must be directed properly if you want to avoid upset. Offer love, affection, understanding and patience instead of criticism and complaints, and you'll get far more accomplished. Personal improvements can and should be made. HHH

LEO (July 23-Aug. 22): Start a dialogue with someone you feel can help you improve your position or lifestyle. Keep it simple, honest and listen to the suggestions made. The information you receive will be a game changer when it comes to making your next move. HHH

VIRGO (Aug. 23-Sept. 22): You can improve your relationship with others if you are open about the way you feel, what you want and what your intentions are. Once you establish ground rules, you will be able to move forward rapidly. Romance is encouraged. HHHH

LIBRA (Sept. 23-Oct. 22): Don't wait until someone is upset with you. Take care of your responsibilities sooner rather than later. Making changes at home that will improve your comfort or lower your overhead will also help change the dynamics of an important relationship. HH

SCORPIO (Oct. 23-Nov. 21): Bend a little and you will get the cooperation you need to get things done. Anger isn't the way to win favors or friendships. Use your ingenuity and you'll come up with innovative ideas that others will respond to favorably. HHHHH

Tips on how owners can keep their pets healthy during the rainy season THE monsoon season is here and as the Filipino community gears up for cold and damp weather, pet owners must also make

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the necessary preparations to ensure that their four-legged friends are safe and ready for the rainy season. The Pet Food Institute (www. petfoodinstitute.org), together with its partnered pet food brands, continues to further the education of the Filipino pet community as they share tips on how to protect pets during the rainy season. THE IMPORTANCE OF A WELL-BALANCED DIET A COMMON problem among pet owners during the rainy season is how to keep their pets healthy despite having their physical activities restricted by the weather. There are several indoor activities, such as playing fetch and learning tricks that pet owners can do to ensure their furry companions stay active and healthy despite the weather. Aside from these activities, pet owners are encouraged to give their four-legged pals

a well-balanced diet in order to ensure that their dogs and cats get the right amount of nutrition to stay healthy. Understanding a pet’s metabolism system is the first step in helping them improve it. There are several factors, such as age and weight that affect their pet’s metabolism. Consulting a veterinarian is the best step to ensure their pets are getting the right type of diet. A SAFE HAVEN AMID THE STORM FINDING the perfect shelter for one’s pets during the rainy season is easier said than done. Pets, much like humans, require a dry and comfortable bed to sleep in during the rainy season. Several breeds of dogs, such as Bulldogs and Chihuahuas, most especially cats like the Siamese cat are more sensitive to cold temperatures. Therefore, owners must constantly check their pet’s beddings to ensure that their furry pals sleep

on a clean and dry space to prevent them from getting sick. Aside from providing pets a clean and dry environment from the rain, these shelters must also serve as a safe haven for pets when they seek refuge from thunder. Several pets tend to seek comfort in the arms of their owners; owners may want to consider letting their pet join them in their room in case he or she is spooked by the thunder. CLEANLINESS IS NEXT TO GODLINESS DURING the rainy season, grooming is often overlooked. However, it is also an important part of a pet’s well-being to avoid them from acquiring bad infections brought by the humidity that will compromise their health. Food bowls must also be regularly cleaned in order to protect their pets from bacteria that could lead to gastrointestinal problems, such as diarrhea and vomiting.

SAGITTARIUS (Nov. 22-Dec. 21): Focus on what you can accomplish, not on what you cannot. Strive to reach your deadlines and to be more innovative in the way you handle professional challenges. Don't fall for a financial scheme that is risky or has emotional implications attached. HHH

CAPRICORN (Dec. 22-Jan. 19): You'll come up against opposition if you are too open about your plans. Perfect what you have in mind, and do not present until you are sure you have covered every angle that may be questioned. HHH

AQUARIUS (Jan. 20-Feb. 18): Make changes that will help you manage your money more efficiently. Overspending or indulging in pastimes that are expensive and unhealthy should be banned. HHH

PISCES (Feb. 19-March 20): Creative accounting will help you get back on track. A change in the way you handle your money, the past and those who have cost you or not been honest will set the stage for a brighter and more prosperous future. HHHHH Birthday Baby: You are energetic, quick-witted and classy. You are unbiased and popular.

‘running start’ by david alan van houten The Universal Crossword/Edited by David Steinberg

ACROSS 1 Easy, as a job 6 Arcing tennis shot 9 “Neither snow nor rain...” org. 13 Felix’s pal 14 Animal that sounds like “you” 15 BMI alternative 16 Advertiser’s proof? 18 Put an evil spell on 19 NY summer setting 20 Nobel Prize announcement mo. 21 Printing boo-boos 22 Recipe add-in 25 Most recent 28 FaceTime platform 29 Type of acid in proteins 30 1 on the Mohs scale 32 Smartphone downloads 36 Something out of left field 39 ___-Ball 40 Foot curve 41 Rank of de Monet in a Mel Brooks film 42 Santa ___ winds 43 Lifts

44 Unnoticed observer 50 Rules over 51 Sportscaster Scully 52 One of the Gabor sisters 55 “21” singer 56 Old electronic storage devices 59 A league is about three of them 60 Took a course? 61 Hamilton Tony winner Renee ___ Goldsberry 62 Shuts down 63 Golf target 64 JetBlue competitor DOWN 1 ___ d’Ivoire 2 Like some cars at dealerships 3 “Git!” 4 Sarcastic laugh syllable 5 Jr. and Sr. 6 Earthworm relative 7 Have a loan from, say 8 Something to see at a poker table? 9 Take unlawfully 10 Throw away 11 Tomato or red bean product

2 Javelin, e.g. 1 15 Green ___ (classic sitcom) 17 Swarm 21 Paleocene, for one 22 Al ___ (firm) 23 Since 24 Smut 25 Scientists’ workplaces 26 One way to run 27 “Words With Friends” piece 30 You mark your place in it with a yad 31 The Walking Dead channel 32 Simmering 33 Positive aspect 34 Football kick 35 Filming locales 37 Many one-star reviews 38 Green sci. 42 Auntie ___ pretzels 43 Turkey-tracing aid 44 Set up to take the blame 45 Ushered, perhaps 46 Bond statistic 47 Looks at creepily 48 Musical narrated by Che

49 Windshield arm 52 Like Lex Luthor or the Green Goblin 53 Three-piece suit part 54 “Or to take arms against ___ of troubles...”: Hamlet 56 Cook in the microwave 57 Squiggly underline color 58 French for “island” Solution to yesterday’s puzzle:

Show BusinessMirror

www.businessmirror.com.ph

Wednesday, October 2, 2019

blind spot bruce c.

TOUCHY FEELY

SO is it true that this online personality is married but has a reputation for being too touchy with young talents? Many talents, particularly those who look Korean, have tattled on the online personality and her touchy-feely ways. It’s not OK to touch others without their consent but it is worse when you do it to minors. This is allegedly what the online personality has been doing lately. She is so enamored with the idea of being with guys who look like K-pop stars that she doesn’t care about their ages. So what is her husband doing about this? Nothing really, because the online personality is the one who earns the big bucks and basically supports the family. Meanwhile, the online personality keeps on having fun at the expense of these not-so-willing boys.

SIDELINED

For Ben Platt, a perfect pitch leads to ‘The Politician’ S

By Mike Cidoni Lennox The Associated Press

ANTA BARBARA, California—To hear Ben Platt describe it, producer Ryan Murphy’s pitch for him to star in the new Netflix series The Politician had all the planning, precision and vision of a successful presidential campaign. “He said, ‘OK, the show is called The Politician. The character’s Peyton Hobart. This is the content of the character. I want Gwyneth Paltrow to play a mother. The world’s going to look like this. This is going to be eight episodes. If we go this many seasons, you’ll end up here,” Platt said of their meeting. Platt signed on after hearing Murphy’s description of the character: a “borderline sociopathicegomaniacal-ambitious witty man.” It’s a departure from Platt’s star-making role, the sweet, socially awkward title character of Dear Evan Hansen. “And so, to me, that was, as an actor, the most delicious possible possibility,” Platt said.

Platt’s Hobart will go to any lengths to achieve his dream of becoming president of the United States. But, first, he must win over voters in his high-school election, which is a lot harder than it sounds. Murphy, the Emmy-winning producer behind Glee and American Crime Story, offered Platt other enticements, including an executive producer credit. “[That] allowed me to have some sort of creative ownership over it that I have been able to have in the theater, but not really anywhere else as of yet,” the Tony Award winner said. “And so, that was really attractive to me.” Platt wasn’t the only actor who Murphy wooed with a perfect pitch. Jessica Lange, who has won two Emmy Awards starring in Murphy’s American Horror Story series, said the producer knew just how to get her to sign on. “He reels me in because he knows what I like and what’s going to kind of trigger my imagination right away,” said Lange, who plays the shady grandmother of Hobart’s running mate. “So, then he’ll drop the

couple things here and there, you know: ‘She went to Hollywood. She wanted to be Vanna White. She’s from West Virginia. She got pregnant when she was a teenager. She was.’ And I can see it all coming. And it’s never a surprise to me, but it’s always tremendously entertaining. So, you know, I end up saying, ‘Yeah, I’ll do it.’” In addition to Platt and Lange, the series (which is now streaming on Netflix) adds the star power of Paltrow and Oscar nominee Bob Balaban. Murphy crams the first eight episodes of The Politician with so much political scandal that the series could be perceived as over the top. But not today, Lange said. “Our politics have somehow devolved into such an absolute [expletive] show,” she said. “You couldn’t make it more absurd than it is in reality. I mean, you couldn’t make this story up that’s going on in America right now. So, you know, as weird as Ryan wants to spin this story, it’s not going to get weirder than what is actually happening.” n

THE young actress had such a good career start. She got good and meaty roles and, to be fair, she really has the looks and the talent. It wasn’t all just hype. In fact, she shone in one of her first bit roles. Her management paired her off with a young actor but the love team never prospered because they didn’t really like each other. The young actress is noted to be in a relationship with a guy who isn’t a celebrity and she seems happy and content. There are rumors that she is pregnant and we are inclined to believe such rumors. The guy is financially well-off so there should be no problem if she wants to quit acting. From what we see, they seem to be very much in love.

NO EYE CONTACT

THE singer-actress is very talented, so it’s a wonder why she isn’t a superstar, yet. Apparently, it is because of her attitude. Not only does she never remember the names of press people and others she comes in contact with, but she is also emotionally aloof. She hardly has any real friends in the business. During meetings and press conferences, she doesn’t even make eye contact. Many of the press people who have written about her for years do so out of respect for the network she belongs to. It’s actually a wonder why she is still in the business. It’s probably because the bosses in her network have so much faith in her, a belief that has yet to be proven true.

DIVA EATS HUMBLE PIE

THE singer is a bit of a diva and, really, he has the talent to back up that attitude. Sadly, there are so many singers now. Many of them are as good as the singer while some are better. So it’s strange that in a show he belonged to, he would refuse to do production numbers with amateurs. So what happened was that since he was just a semi-regular, the management gradually eased him out. Now, he is begging for another chance upon realizing that good singers are not hard to find. Young and old, there are so many good singers in the country, and many of them are hungry for fame and recognition. None of them have attitude like this male singer.

Reel Time Program Manager Nowell Cuanang received the Gold Dolphin award at the 10th Cannes Corporate Media and TV Awards in France.

NEW ON-DEMAND SERVICE LAUNCHED IN PHL hayu—the all-reality, on-demand subscription video-on-demand (SVOD) service from NBCUniversal International—has launched in the Philippines. The service is available direct-to-consumer on a full array of devices: mobile phone, tablet and Web via www.hayu.com. hayu has simultaneously expanded to Singapore and Hong Kong. Targeting the broad base of viewers who are fans of the reality genre, hayu combines a unique user experience with the best in over-the-top (OTT) technology. The streaming service includes over 7,000 episodes of reality content from 250+ shows, the majority of which debuts on the service the same day as they premiere in the United States. The exciting collection of full shows and series available from the very beginning means that users can catch up from the start. Beyond being the single source for top reality content—including Keeping Up with the Kardashians and its spin-offs, along with The Real Housewives, Million Dollar Listing and Below Deck franchises, Dance Moms, and Vanderpump Rules—the personalized service offers users the ability to download their favorite reality shows to view on the go, without access to the Internet. Search functionality and targeted content recommendations mean users can discover endless hours of content to binge on with quick access to their favorite shows and categories. “We are thrilled to be able to bring hayu and its world-class reality TV content to the community of super fans in the Philippines. We spoke to our potential subscribers and we now know how popular this genre is among Filipinos, and how

GMA wins first Gold at Cannes

THE Kardashians are on hayu.

much they love keeping up with the latest storylines and having access to full-length episodes all in one place,” commented Hendrik McDermott, senior vice president, Branded On-Demand, NBCUniversal International. “hayu is a great success in 11 other countries and we knew that the Philippines needed to be the next step in our global expansion.” hayu has distinguished itself as a must-have, all-reality service and the monthly, no-contract fee

providing access to the full breadth and depth of content is affordably priced at just P149 per month. All hayu customers will also receive a full one-month free trial as soon as they sign up. hayu launched in the United Kingdom, Ireland and Australia in March 2016, followed by Norway, Sweden, Finland and Denmark in November 2017. The most recent territory expansion includes Canada in September 2018 followed by the Benelux in December 2018.

Besting other entries from around the globe, Reel Time’s “Batang Maestro” won the highly coveted Gold Dolphin award under the Current Affairs, Human Concerns and Social Issues category at the 10th Cannes Corporate Media and TV Awards in France on September 27. This serves as GMA Network’s first-ever Cannes award, which recognizes the very best in corporate media and TV. “Batang Maestro” is an episode of GMA News TV’s Reel Time, which featured the story of 12-year-old Dagul and his fellow volunteer “little teachers” in the province of Sorsogon. Dagul and the other volunteers cross the river of Donsol on board a bamboo raft just to reach fellow children in remote areas who have difficulty in reading because they are often absent from classes. Despite his own struggles at home, Dagul pursues his volunteer work to bring pride and honor to his mother, his very first teacher. Receiving the award for Reel Time was its program manager, Nowell Cuanang. Giving honor to the country as well is the bimonthly documentary program The Atom Araullo Specials, which was shortlisted for its “No Leftovers: A Food Waste Trail” episode. “No Leftovers” showed that food wastage remains a big problem in the Philippines by tracing how food is wasted from production to consumption. GMA Network is widely regarded as home to the most internationally awarded Philippine documentary programs. This year’s Cannes Corporate Media and TV Awards listed almost 1,000 submissions from 51 countries.

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Wednesday, October 2, 2019

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Mirror, mirror SUI GENERIS CARLO ATIENZA

biblisko@gmail.com

HEN I was in high school, my teachers would always remind us to take time to smell the roses. Then, I would think it was all about slowing down and enjoying the beauty before you. But the past few days have taught me a different way of looking at the phrase—yes, appreciate what I am doing and what I have become, but also to stop and think about where I am going after I smell the roses. Everything today is so fast-paced, everyone wants to automate even the simplest of tasks so we go from one activity to the other without ever taking the time to think through what to do first, and the reason why we are doing what we do in the first place. It becomes a repetitive cycle of going with whatever popular opinion the management has heard, who then uses it as a buzzword to promote a strategy they themselves do not understand. We focus on the immediate effects without thinking of its long-term value. And where information flows as fast as the speed of light and decisions are made at one’s fingertips, all the more do we need to have checkpoints to allow us a way of calibrating whether we are still headed in the right direction. And I realized, when I talk about my day to my significant other, that I can only think about what could have been done better when I take the time to actually think about it. And when I talk about my day in the office, I get to rehash the events and find myself filtering the most salient points and focus on what the issue is really about. It takes a good amount of selfreflection to actually uncover my predispositions and biases, and sift through the rubble and focus on what is truly important. And you can only know this if you take the time to reflect and think about your work or your personal life. Self-reflection is taking the time to think about where you are in your life and where you want to go. It is a deliberate action on your part to set aside time to just think about certain aspects of your work or personal life, and evaluate where you are at the moment and where you want to be in the future. You can only do this if you find a quiet place where there are no distractions like your phone or any gadget, and you intentionally focus on what you want to be clear about. It will also help if you write down your thoughts in a journal so you can keep track of your

thoughts and rein in any tendencies to let your mind meander. It will also give you a visual representation of your action plans so you can follow through with your decisions. But the most important thing is that you set aside a time for self-reflection and just take the time to think through what is happening in your life. Doing so will enhance your emotional intelligence—this means resisting the urge to splurge (think Marshmallow Test). Reflecting helps you become self-aware so you can identify your strengths, personal values, and goals. These are foundational to your growth because you can capitalize on them and use them as guides on where you want to take your career or personal life. Knowing your strengths helps you gain more self-confidence because you come from a position of expertise to recommend or provide alternative solutions. Your personal values and goals will guide you in where you will blossom and grow. Hence, you become more sensitive to things which can possibly keep you offtrack, focusing instead on the things which will ultimately help you fulfill your own aspirations. Knowing your strengths, values and goals will also help you regulate how you react to others, so you can ignore people and situations which do not add value to your work or your life. Through self-reflection,

you will discover there were instances where the appropriate reaction would have been to simply let it pass and not overly react because hindsight now tells you it was not worth it. You can choose which battles are worth fighting for and which ones you leave behind because you know it will not amount to anything. You then have a better appreciation of where you stand and a better perspective of where you want to be. Self-reflection also helps you solidify your personal integrity, giving you a better understanding of the principles which drive your actions—you walk your talk. Your actions will speak where your words cannot. Taking the time to assess what drives you will also help you to not only assess what you need to do to move forward, but also uncover what you are willing to give up to have what you need. This cannot happen when you are constantly bombarded with distractions and demands. Understanding your principles and what moves you will guide you to sift through the cruft, block out the noise and follow your own path. Taking the time to reflect will also enhance your decision-making skills because you know your priority. Greg McKeown, in his audiobook “Essentialism,” talks about how the word “priority”

was always used in the singular—that is, until the 1900s where it started to be used in the plural. It was because before the plural usage, priority refers to the single most important consideration. Nowadays, there are varying degrees of priorities which can sometimes be in conflict, totally opposite, or not really important at all. If we bring back the original definition of priority, it will become easier to delineate which of things we do are actually significant to our work and personal life. But then again, without taking the time to actually identify your priority, you will be easily persuaded to follow the priorities of others. Mulan and The Sleeping Beauty’s evil stepmother had one thing in common—they both looked at their reflection and determined their course of actions after. One knew who she was and what she wanted to be and ended up a hero. The other could not, and would not, accept what she saw and did everything in her power to thwart it—only to be proven wrong at the cost of her life. If only she had accepted what she saw and worked with what she had, she could have prospered onto another fairy tale. And just like Mulan and the evil stepmother, how your story unfolds depends largely on the choices you make. ■

MOBILITY AND AGING DONE SMARTLY AND IN STYLE

RAZVAN DIRATIAN, Avon Philippines general manager

CES FRANCISCO, Avon Philippines CSR project lead

LEONA PANUTAT (from left), Gin Panlilio-Samson, Kat Maderazo, Nicole Wuthrich-de La Cruz, Aliza Apostol and Marie Field-Faith

Paint the town pink BY PAULINE JOY M. GUTIERREZ OCTOBER, for many women around the world, ushers a resolve: wear pink. Not because of any fashion fad, no, but to make a global statement and put a face on breast cancer, as well as identify those who wear it as victims, survivors and advocates. For Avon Philippines, one of the leading supporters in the global fight against breast cancer, the color also plays an important reminder that no woman should be left in the dark about the disease any longer. This Breast Cancer Awareness Month, the company is teaming up with Color Manila for the “Avon Pink Light Night Run and Walk” for Breast Cancer 2019. This effort is the centerpiece of Avon’s Pink Light Project in support of the annual global health campaign. The run will take place on the evening of October 19, Saturday, at the Filinvest City Events Grounds in Alabang. Participants can choose to run in either the 3K, 5K or 10K distances and will be given race kit packages that will come with a special Pink Light headlamp to guide them through the night. All registration proceeds go to the Philippine Cancer Society (PCS). “We’ve always cherished our relationship with Avon. They have been a constant and committed

partner in our advocacy, and instrumental in establishing the Breast Care Center in Philippine General Hospital, which has helped save many women’s lives and continues to serve even more. We hope that their campaign this year will invite more women to commit to their health seriously,” said Dr. Rachael Rosario, director of the PCS. She noted that breast cancer accounts for 16 percent of all cancer diagnoses in the country, and about 30 percent of cancer cases among women. The Philippine Council for Health Research and Development also reported that 1 in 13 Filipino women will develop breast cancer in her lifetime. “Avon continues to shed a bigger, brighter light on breast cancer every year,” said Avon Philippines General Manager Razvan Diratian. “We do this because we believe you can’t have too much awareness about breast cancer. As long as there are Filipinas who don’t do a breast self-exam regularly, there is still work we can do.” The Avon Philippines head pointed out that the results of a global survey among 19,000 respondents by Avon Products Inc. in 2017 found that there was a knowledge gap among women about the symptoms of breast cancer and how to lower the risk of developing the disease. The survey showed that only 2 in 5 people (42 percent) are confident

about recognizing the changes to their breasts that could be a sign of cancer. Moreover, more than half of those surveyed (60 percent) would hesitate to seek medical advice for a variety of reasons, including embarrassment, fear and not having access to a regular doctor. Even more alarming is the fact that breast cancer kills more than 500,000 women globally every year and yet, this number could be greatly reduced if cancer were detected at an earlier stage. “This was how the Avon Breast Cancer Promise was born, seeking to make sure that every woman is aware of the disease and how to fight it. The campaign is all about urging women to make the breast selfexam a habit for the early detection of the disease,” Diratian said. Avon also lit several landmarks, such as Manila City Hall, SM Mall of Asia Globe, Quezon City Memorial and the Avon EDSA Branch in pink last year, as part of their awareness initiative. This October, the SM MOA Globe will be lit up once more, while the Makati Shangri-La Hotel will be offering a special installation in the grand lobby to invite people to support the cause. The hotel will also hold a limited Pink Afternoon Tea promotion for the month. Register for the run at www.colormanila.com, www. smtickets.com and www.travelbook.ph.

MOBILITY is defined as the ability to move or to be moved around freely or easily. As people grow older, however, they start to experience gradual loss of mobility which has profound social, psychological and physical consequences. This loss of mobility is most of the time attributed to older age, low physical activity, obesity, impaired strength and balance, and chronic diseases, like diabetes and arthritis. In order to age with confidence into those senior years, one of the things you can do for yourself is to be physically active on a regular basis. In an article titled “Benefits of Mobility in the Elderly,” it was noted mobility also promotes healthy aging, and that physical activity does not have to be strenuous to achieve health benefits. To cater to the growing needs of the Philippine elder population, Watsons, Asia’s leading health and beauty retailer, has partnered with Top American Products Solution Inc. to bring in products manufactured by Drive Medical, one of the fastest growing global manufacturers of durable medical equipment. Drive Medical has a line of mobility, bath safety and personal-care products for the elder population and these products focus on innovation, functionality and value. Available in select Watsons are Drive Medical’s line of mobility products that include Hurrycane Freedom, Offset Grip Cane and Deluxe Folding Travel Walker, among others. Their Bath Safety items include Grab Bars, Tub and Stair Safety Treads and Cast Protector Arm. Its line of Personal Care products include Universal Arm Sling, Metal Shoe Horn and Glide Skis. More information is available at www. seniorsphilippines.com.

BusinessMirror E1 | Wednesday, October 2, 2019 • Editor : Tet Andolong

Parklinks North Tower

ALP, EPPI launch greenest project in QC and Pasig By Rizal Raoul S. Reyes

@brownindio

YALA Land Premier (ALP) is solidifying its position as the top high-end developer in Quezon City when it recently launched their first high-rise residential tower in Parklinks, a joint development of Ayala Land Inc. (ALI) and Eton Properties Philippines Inc. (EPPI) in Quezon City and Pasig.

Parklinks is a 35-hectare, master-planned, mixed-use, and sustainable estate jointly developed by ALI and Eton Properties Philippines Inc. Located along C-5/E. Rodriguez Jr. Avenue, the estate straddles the border between Quezon City and Pasig. Tomas Cadiz, marketing manager of ALP, told reporters in a recent press briefing that the ALI’s premier developer unit wants Parklinks to be the greenest urban development within Metro Manila by allocating 50 percent of the total area to parks and open spaces. Through its design, Parklinks aims to lessen the carbon footprint of future residents by ensuring residents can access the park within

Four-bedroom Sky Villa

five minutes. To address the luxury living component, ALP has launched the Parklinks North Tower, a 55-story condominium to over Parklinks that is designed to promote a balanced lifestyle. Moreover, Parklinks is surrounded by prestigious residential communities, such as Greenmeadows, Corinthian Gardens, and White Plains. It is also strategically located to major educational institutions, such as Ateneo de Manila University, Miriam College, Poveda College, La Salle Greenhills, Xavier School and Immaculate Conception Academy. Also nearby are key institutions, such as Christ the King Parish, St. Pio Chapel and The Medical City.

Residential lobby

Parklinks North Tower, being the first luxury residential tower by ALP in the estate, provides a direct retail connection to Parklinks Mall and the River Esplanade, River Esplanade, a park designed to be an open civic space with riverside dining establishments. “The estate will provide a unique living experience. Residents live in an exclusive residence surrounded by nature and vast open spaces, but at the same time are still provided the convenience and accessibility of living in a highly urban area,” Cadiz said.

Aside from being distanced from high-rise structures, Cadiz said the tower offers panoramic east and west views. For people who want to have a certain degree of privacy, Cadiz said Parklinks North Tower is the place to be as it has only four to eight units per floor. The 3-hectare Central Park will be a major component of green living in the estate that will be complemented with sprawling lawns and retail establishments lined along a large plaza. The Riparian Gardens, which envelop the entire estate, is a park patterned after the natural

Living and Dining Room

landscape of the area. The River Park Terraces along the Marikina River feature waterfront establishments, a viewing deck, and dedicated lanes for biking and running for people who want to pursue an active lifestyle. Fronting the Ayala Land Premier development is the River Esplanade. Cadiz said a 110-meter four-lane bridge will be an architectural landmark of the estate. The bridge will have bike and pedestrian lanes connecting Quezon City and Pasig. It is scheduled to be completed in 2021. He disclosed that Parklinks Mall

will rise along C-5. It will be a fivestory premium lifestyle mall with a large sports center, cinemas, diverse retail and dining options, and office spaces. The mall will directly accessible by residents of Parklinks North Tower through its retail connection on the ground floor. On the 45th floor of Parklinks North Tower is the Horizon Tower, an exclusive lounge overlooking Parklinks and the Antipolo mountain range accessible only by residents. Cadiz said Parklinks North Tower units were launched at an average price of P280,000 per square meters (VAT inclusive with parking). “To date, we are selling at around P320,000 per sq m [VAT inclusive with parking], which reflects an estimated 15-percent increase in prices. Units within Parklinks North Tower are currently priced from P22 million to P120 million.” “From a starting average price of about P280,000 per sq m, units within the property are now valued at more than P320,000.00 per sq m, marking a 15-percent increase in value,” Cadiz added. Parklinks North Tower is expected to commence unit turnovers by the third quarter of 2025. Parklinks South Tower, the sequel to ALP’s successful first launch, is set to be unveiled soon. Cadiz said the development of the estate represents a P53-billion investment for the joint venture over the next 10 years.

Business

E2 Wednesday, October 2, 2019

Tokyo & Shanghai on my mind Amor Maclang

first dibs in real estate

Conclusion

atching them fresh from global learning initiatives, I had a quick chat with some of my favorite thought leaders in real estate and how they’re lifelong learners in this industry. Tyler Staton, cofounder, Talox

Talox is a cloud-based CRM software for commercial landlords. It allows them to get all the information about their spaces, lease contracts and ongoing deals organized in one place, helping them to make better and faster decisions. What’s unique about Talox is that it also enables these landlords to connect out to the broader realestate market, enabling them to share information about their vacant spaces with brokers, receive inquiries and even start bringing their lease negotiations online.

My takeaway from the ULI Summit was that proptech (property technology) still has a long way to go to become the mainstream in Asia. Many real-estate leaders are not yet embracing technology in their portfolios and could be putting their businesses at risk. What is exciting is that this presents a real opportunity for the Philippines to take a leading role. If the Philippine real-estate industry can embrace proptech, they could set the standard for the whole region.

Buds Wenceslao, chairman, Urban Land Institute

The first time I attended a ULI

Talk about epic, learning and friendships in the industry, a light moment during the ASIA Pacific Leadership Dinner with Mikko Barranda, Leechiu; Raymond Rufino, The Net Group; Buds Wenceslao, ASEANA; the author and the chairman of the Urban Land Institute, Chut Cuerva of the NEX group.

Tyler staton

Asia Pacific Conference was in 2016 in Singapore. I was able to see a different definition of placemaking in terms of a local context with international standards. My most memorable study tour was this mixed-use development in Singapore which married transport orientation, heritage preservation, office, hotel and retail. Most important, public space was a major element of the projects which allowed the public to penetrate the entire project like a sieve connecting different areas of the city. My most important takeaway from it is that each project is part and parcel of a city. A city is organic and every building or project is like an organ that has a symbiotic responsibility not just to its neighbors but to the entire city development. Finally, and most important, real estate’s primary benchmark for success is how it relates to the people that use

having a compounding effect of development in the Asia Pacific region. As for me, the lifelong technology and real-estate enthusiast that I am, I obsessed, of course, about my passion which is to bring together both real estate and technology together. (More about our first-ever Real Estate Hackathon in the next coming weeks). You see, real estate has been termed as “famously technophobic,” but the data era is now driving the industry to serve the market of one and adapt constantly to new trends, such as wellness, flexibility and meeting the aspirations of those “hard to please millennials.” Developers, designers, futurists and millennials were all represented on the panel titled, The Evolution of a Dinosaur: Real Estate and the Future of Work, cohosted by Phil Kim, managing director for Asia Pacific at the Jerde Partnership,

and interact with them. You can expect to learn about internationally relevant topics with speakers and thought leaders at the top of their game. You can expect to see/visit world-class projects, through study tours, in the eyes of the owner-developers. It is interesting and educational to hear the “parti” or central concept of the specific projects from the principal architects themselves. Finally, you can expect to connect, meet and network with real-estate decisionmakers and practitioners from different regions. It’s useful for anyone who is interested in real-estate development, and see all the elements and factors affecting the broader regional context. This year’s theme is delivering a sustainable future. This crosses the entire real-estate spectrum of placemaking, sustainability, proptech, and even the economic and political milieu of how the Belt and Roan initiative is

and Bill Lee, senior director for PropTech Investments and Real Estate Development at Gaw Capital Partners. Lee said “data is the foundation” for evolving real estate, allowing developers to build in flexibility and retail landlords to track shoppers. The audience also saw some examples of the evolution of retail from Emmy Two, chief executive of Fuse, a retail popup start-up that takes retail into gyms and workplaces, and “takes the retail to the customer,” as said. Healthy buildings was also a topic of conversation for the panel, who agreed this is another area where data will be crucial in convincing investors and tenants of the benefits of chasing the newest trend. All told, between the epic learning, epic Shanghai dining and epic networking, I would have to mark my first-ever ULI Asia Pacific Conference one of my learning highlights for this year. See you all in Tokyo in 2020.

Why Japan’s Isetan Mitsukoshi is entering the Philippine market D

ESPITE the growing popularity of the country’s online retail industry, one thing remains constant: brick-and-mortar stores are here to stay. In fact, Neda, the Department of Finance and Nielsen have reported that prospects for the retail industry remain positive, bolstered by economic growth and strong domestic demand. As consumers become aware of local and international trends, their purchase decisions have also evolved from simply transactional to more experiential. The positive industry outlook for Philippine retail prompted foreign retailers to partner up with local companies and establish their presence in the Philippines. One of the latest retailers that aim to elevate the Philippine shopping experience is Isetan Mitsukoshi Holdings Ltd., one of Japan’s largest department store groups. The Japanese retailer partnered with premier real-estate developer Federal Land Inc. to develop and operate the fourstory Mitsukoshi located at the latter’s integrated use project in Grand Central Park Bonifacio Global City (BGC). “We are very positive about the rapidly growing market in the Philippines. The consumption and taste is definitely maturing and we believe that there is a chance for Mitsukoshi to be part of the Philippine retail landscape.” Isetan Mitsuko-

shi Holdings Ltd. Overseas Real Estate Promotion Division General Manager Daisuke Kobayashi said. “GT Capital Holdings, which is affiliated with many Japanese companies, has a diligent and collaborative corporate culture. This culture made us consider the Philippines and start a business with them.” Guided by more than 300 years of experience, Isetan Mitsukoshi creates extraordinary retail environments for shoppers and retailers, as well as communities and investors. Its portfolio includes 24 department stores across Japan and 34 retail fronts on international shores, a few of them in major cities in Southeast Asia. Each of these stores gives consumers more than what the traditional shopping mall has to offer, purveying high-end merchandise from Japan and around the world—spanning all categories from clothing to food—in addition to presenting design, service and attention to detail that are second to none. The history of Mitsukoshi dates back to 1673, when it was founded by Mitsui Takatoshi. On the other hand, Isetan, founded by Tanji Kosuge, first opened its doors in 1886. Both companies were originally kimono drapers. The two companies merged in 2008 to form Isetan Mitsukoshi Holdings Ltd. The country’s first Mitsu-

Artist’s perspective of the supermarket

Artist’s perspective of Mitsukoshi façade along 36th street

koshi in BGC is set to become a world-class destination. It will be offering dining, leisure, and entertainment choices that will delight shoppers from different age groups, with distinct areas for families, young children and Metro Manila’s most discerning shoppers. An entire floor will be dedicated to Japanese food, housing a food hall, premium restaurants and a supermarket that will sell high-quality ingredients. Another floor will be devoted to cosmetics and fragrances, as well as beauty-related services. In addition, the mall will also have a dedicated Kids and Nursery Room, where parents can care for their toddlers and babies in between rounds of shopping. “Our policy is to always satisfy the needs and wants of our customers,” Kobayashi said. “Through this, we are able to continuously evolve our stores.” Mitsukoshi in the Philippines is a collaboration between Federal Land Inc., Nomura Real Estate Co. Ltd and Isetan Mitsukoshi Holdings Ltd. It will anchor The Seasons Residences, a four-tower residential development that will introduce Japanese-style living to BGC. Mitsukoshi in the Philippines is slated to open in 2021. For more information, e-mail us at digital.mktg@federalland. ph, or visit the showroom at Seventh Avenue corner 34th Street, Grand Central Park, North BGC, Taguig City (across the Lexus Manila Showroom).

sMirror

Editor: Tet Andolong

Federal Land extends to Cebu legacy of personifying cities

BPI Family Savings Bank partners with real-estate brokers

Mary Dafne Bericiarte (from left), secretary-general of PAREB; Cesar Arnaldo Jr., national board advisor and past PAREB president; Agnes Fides Mercado, PAREB national board president; Ma. Cristina “Ginbee” Go, BFSB president; Dennis Fronda, BFSB retail lending group head; and Herbert Tuazon, BFSB housing loans sales division head

OWERING over any key city across the country are standout structures that embody its personality—emphasizing the city’s profile, reshaping its skyline, while hinting at its strong economic potential.

For Federal Land Inc. General Manager Thomas Mirasol, the presence of diverse architectural structures in booming cities across the country not only serve to beautify, but also represent what their cities are like and what they have to offer. “Aesthetic variety among city buildings are proof of the economic progress and the modernity of this country’s best urban areas,” said Mirasol. “Most important, distinct structures can serve as new landmarks that capture the essence of their respective cities.” In a survey conducted by global property portal, Lamudi, western respondents named the Makati Central Business District’s skyline as the most recognizable across emerging markets. The Makati CBD, after all, is punctuated by Federal Land’s

iconic architectural marvel, GT Tower International with its distinct blade-like apex and eye-catching streamline lights. Driven by an industrial intuition sharpened through its 47 years of expertise, the premier real-estate giant has built a reputation of personifying rising metropolises with their prominent developments. According to Mirasol, “Luxury residential properties showcase the changing lifestyles of today’s more affluent consumers by harmonizing a cosmopolitan city life with the comfort and privacy of a suburban home.” The premier real-estate developer, also known for collaborating with reputed global partners and bringing world-class hospitality brands to the Philippines, possesses a portfolio of impressive residential projects. Its iconic award-winning skyscraper,

Grand Hyatt Manila and the anticipated $400-million The Seasons Residences in Bonifacio Global City are just some of Federal Land’s landmark structures. While cities in the country’s National Capital Region continue to flourish with consistent modernization, Mirasol noted that many factors are now driving strong interest and urbanization to regional metropolises, like Cebu.

Crowning the Queen City of the South

Consistently marked as one of the country’s top cities, Cebu retains its position as one of the preferred investment destinations outside of Luzon, according to Colliers International’s first quarter report for 2019. “Cebu’s enduring economic growth has strengthened its market for upscale residential properties,” Mirasol said. “The city’s natural beauty contributes to its effortless tourist appeal, while its skilled work force continually influences various businesses, including multinational companies, to set up operations there. This spurs the migration and local settlement of their executives and high-ranking officers.” With its four-tower Marco Polo Residences atop the exclusive Nivel Hills district in Cebu, Federal Land personifies the city by marrying its classic culture of history and tradition with its chic urbanity. This year, Federal Land will be launching Parkplace, the fifth tower in this luxury condo township backed by the five-star Marco Polo Hotel brand. “The residences parallel Cebu’s heritage through the Marco Polo brand, fusing Asian hospitality with Western innovations,” said Mirasol. Architecturally designed to resemble two connecting pearls, Park place is unique in its visual fluidity and structural integrity. With this design, residential units are strategically arranged to take advantage of the property’s hilltop location, providing a visual sampler of Cebu by framing the panoramic view of the sea, sky and city. With only 14 units per floor, residents are given a sense of personal space while having access to hotel services for utmost comfort. Parkplace makes use of the expansive property to provide residents the freedom of space and openness to experience an extensive set of amenities within the Marco Polo Residences township. Within Parkplace, residents have access to fitness facilities, such as circuit training, yoga studio, and golf simulation. Recreational areas, such as the art room, KTV room, and the mini theater also provide families more spaces to connect within the comfort and convenience of their own homes. They also have access to facilities and amenities of the four existing towers and outdoor amenities including three swimming pools, play areas, coworking spaces, function halls, a spa pavilion and a day-care center. Driven by the growing appeal of Cebu, Mirasol considers Parkplace an expansion of the township, adding another dimension to the city’s persona and fortifying its identity further. “Federal Land is poised to continue developing Marco Polo Residences, precisely reflecting Cebu as it advances and evolves.” https://federalland.ph

PI Family Savings Bank (BFSB) recently signed a memorandum of agreement (MOA) with the country’s largest association of real-estate brokers to help more Filipino families acquire their dream homes. The MOA was signed with the Philippine Association of Real Estate Boards Inc. (PAREB), the first and largest national association of licensed real estate brokers, as an exclusive partner in promoting the respective institution’s activities. “Through this partnership, we hope to provide more Filipinos convenient access to financial services that makes home ownership a reality,” said Ma. Cristina “Ginbee” Go, president of BFSB. “We see value in forging partnerships with key industry players especially when it comes to helping Filipinos reach their life goals,” Go added. Under the MOA, PAREB will promote BFSB’s services in exchange for BFSB’s sponsorship of PAREB’s activities for one year. Both parties have been partners for five years in various events, but this is the first time that they entered into an exclusive partnership. Aside from the partnership with PAREB, BFSB is also working on shortening the turnaround time from client submission of loan application to notice of approval. For clients who also want to avail themselves of new properties, requirements have been

reduced to speed up the process. “Being the biggest real-estate service organization in the country, we would like to help our fellow Filipinos get their dream home, together with BPI Family Savings Bank,” said Agnes Fides Mercado, national board president of PAREB. “Most Filipinos want to have a house of their own someday, and we are here to facilitate or make it easy for them to avail of home loans that offer attractive rates.” PAREB will be giving BFSB access to its 5,000 members, allowing BFSB clients to benefit from the advice and expertise of these real-estate brokers in selecting their desired home and in the proper documentation of real-estate deals, dealing with government agencies, and seeking financing. BFSB will also get to introduce their current offers in the following PAREB National General Membership Meeting held in National Capital Region, Luzon, Visayas, Mindanao, and national conferences. This partnership will allow the sales officers to work closely with the PAREB member boards to run localized marketing initiatives and financial learning sessions. The online mortgage calculator of BFSB will also be made available in the PAREB web site, www.pareb.org.ph, so that potential clients will have a quick idea of how much value of a home they could afford to buy.

Sights to behold at The Pebble

MAGINE living in the city, where despite the frenetic pace you are surrounded by greens, generous open space and invigorating waterscapes. That’s Acqua Private Residences, a magnificent six-tower master-planned development rising on the historic Pasig River—at a point where Makati and Mandaluyong cities meet. At the very core of this award-winning development of top property developer Century Properties is an impressive central amenity called The Pebble, Acqua’s three-story waterfront clubhouse and its visual focal point. With the lush beauty of the tropical rainforest as Acqua’s inspiration, The Pebble was designed as a gleaming white, modern interpretation of a smooth river stone. Its large cutout in front provides a vista of Makati, while three iconic waterfalls stream down into the Riverwalk Promenade, a public space with retail and dining strip. The Pebble houses a state-of-the-art health, wellness and fitness center, a 25-meter glass lap pool with jacuzzi, a restaurant and juice bar, locker rooms, function rooms, an expansive lobby with a children’s wall climbing and play area, a sophisticated movie room, and a kids’ playroom and mini library. With striking interiors in bold and bright hues and adorned with catchy wall art, The Pebble is a favorite place for Acqua residents to relax, unwind, bond, and

enjoy whether at the end of a working day, or on weekends with family. Outside The Pebble are more outdoor amenities. Taste a slice of heaven as you stroll at the Eden, a relaxing garden amenity that spans the entire sixth level of all Acqua towers. Featuring lush tropical greens, koi ponds, waterways, and a mini playground for kids, the Eden offers a perfect place to relax, bond with your kids or find one’s center. There is also a basketball court and an outdoor lagoon pool and kiddie pool with waterfalls. Come evening, Acqua offers an impressive view of Metro Manila’s skyline from the higher floors of all its towers, which are named after famous waterfalls: Niagara, Sutherland, Dettifoss, Livingstone—interior designed by MissoniHome, Iguazu—interior designed by YOO, inspired by Strack, and the sixth tower opening soon, Novotel Suites Manila. Those who live and work in the city will find the perfect blend of living close to nature while still enjoying the beauty and conveniences of city life. Acqua Private Residences sits on a 2.4-hectare prime property in Coronado Street, Barangay Hulo, Mandaluyong City, bordering Makati. It is accessible via the Makati-Mandaluyong Bridge and soon, the expanded, four-lane Estrella-Pantaleon Bridge. http://www.acqua.com.ph/.

Entrepreneur BusinessMirror

E4 Wednesday, October 2, 2019 • Editor: Vittorio V. Vitug

Gaisano mall brand eyes Metro presence

By Rizal Raoul S. Reyes

utting up a business requires capital. This often hinders aspiring entrepreneurs from starting their own businesses. However, even if one is cashless at the moment, there are several ways to start a business. Rebecca Bustamante, a former overseas Filipino worker and now-president of the Asia CEO Awards, shared some tips in an interview.

fter establishing a solid presence in the Visayas region, the Gaisano-controlled Metro Retail Stores Group Inc. (MRSGI) is now aiming to create a name in Metro Manila.

Be credible

Manuel C. Alberto of MRSGI Manuel C. Alberto, president of MRSGI, told the BusinessMirror in a recent interview that the homegrown retail brand can compete head-to-head with the major brands in the city. “Although it is a brand developed in the province, Metro has an infrastructure that is world-class and the investment that has been put in place is very impressive,” Alberto noted. “The brand equity is very strong especially in the southern part of the Philippines. It also picks the best locations for their operations. In terms of design, Metro continues to innovate to make shopping convenient and relaxing for the clients,” he added. Alberto was invited by Frank Gaisano and former Metro Mart President Arthur Emmanuel to join MRSGI. In 2010, Alberto finally joined Metro Mart and worked initially as chief of merchandise and marketing. “The best way to really immerse in transition to our business is through merchandising and marketing because that’s where a lot of ‘magic’ happens,” Alberto said.

“That’s also where lots of the plans come from and the execution is in the store. I was able to get to understand the business from all sides of it from how we plan our merchandising, how we plan our marketing, understanding the different brands and the customers,” he recalled. Alberto was impressed with the infrastructure of the company, citing it as one of the best. From an IT infrastructure standpoint, MRSGI has the best IT network system under the Oracle brand. Moreover, he was surprised that it has a robust supply chain system in place. “Metro is one of the few retail stores that operate its own trucking facilities,” he said. To enable shoppers to have various options, the MRSGI team led by the Gaisano family travels annually around the world to find unique products that can be sold in the local market. “I think that’s present in our heritage as the Gaisano family travels to check the items that have value for money,” he said. “We want to offer the best selection, but it has to be curated by the

market,” he said. “There are some basic merchandise and brands that are well-loved by customers,” he added. MRSGI is also engaged in corporate social responsibility (CSR) by helping micro, small and medium enterprises. It will also launch its own One Town, One Project initiative in coordination with the Department of Trade and Industry. It is currently finalizing the products that will be sold and stores which will carry the brands. Among the CSR brands mentioned were Caritas Margins, an organization that works with microentrepreneurs from marginalized communities to create various products like food, artwork, home décor and accessories; St. Arnold Janssen Kalinga Center, which provides care and livelihood for people experiencing homelessness; and the Bureau of Jail Management and Penology, which facilitates the sale of fashion and homeware products made by persons deprived of liberty. MRSGI Vice President for Cor-

porate Affairs Anna Marie Periquet cited the important role of retailers “as engines of economic growth and shapers of consumer taste, retailers can make a difference in the world.” Periquet added that corporate philanthropy is part of MRSGI’s corporate DNA. The company partnered with Vicsal Foundation to create programs to develop sustainable solutions to address poverty alleviation. Vicsal Foundation is the corporate social responsibility arm of Vicsal Development Corp., which owns and operates MRSGI. Among MRSGI’s programs are initiatives that promote inclusive business for local farmers, fisher folk and weavers. The company also helps consumer mindsets by providing them with socially responsible and high-quality products. “The socially responsible goods on our shelves are not pity purchases. They have passed strict tests on consumer safety, health, sanitation, and are government-registered,” Periquet assured.

Dacanay is first Filipina Social Innovation Thought Leader awardee

r. Marie Lisa Dacanay, president of the Institute for Social Entrepreneurship in Asia (ISEA), was conferred the Social Innovation Thought Leader by the Schwab Foundation for Social Entrepreneurship during the opening plenary of the Sustainable Development Impact Summit 2019 of the World Economic Forum in New York, on September 23, 2019. “The award is an affirmation of the pioneering multi-stakeholder initiatives that ISEA and the social enterprise sector in Asia are doing to accelerate the reduction of poverty and inequality toward sustainable development in Asia, a region that is home to two-thirds of the world’s poorest. Social enterprises have and are demonstrating innovative pathways in transforming the lives of the poor and need to be better supported by governments and the business sector to scale up for greater impact,” said Dacanay. Dacanay is a pioneer in social entrepreneurship education and research in Asia. She is a coach and mentor of social entrepreneurship practitioners and resource institutions, and a bridging leader promoting dialogue and collaboration between social enterprise sector with government, business, civil society and academe to achieve greater impact. Dacanay and ISEA played a lead

role in the research and convening of stakeholders that resulted to the poverty reduction through Social Entrepreneurship bill which is pending in both houses of Congress. ISEA also led the research of social enterprise best practices to the development and promotion of a set of Benchmarks for Transformational Partnerships and Women’s Economic Empowerment in Agricultural Value Chains (BTP-WEE in AVCs). Dacanay was among the 40 awardees for social innovation in 2019. The list includes start-up founders and chief executive officers, multinational and regional business leaders, government leaders and recognized experts who are working to address social and environmental issues with innovations in areas ranging from water purification to financial inclusion to combatting hate. For more than 20 years, the Schwab Foundation has recognized social entrepreneurs as a new breed of leader—values-driven, inclusive, compassionate and entrepreneurial, developing new sustainable models for business, human development and environmental initiatives—and embedded them in the platforms of the World Economic Forum. Now in its third decade, the Schwab Foundation has introduced three new award categories along

No money, no problem: A guide for aspiring entreps

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with the established category of Social Entrepreneur of the Year: Public Social Intrapreneur, Corporate Social Intrapreneur and Social Innovation Thought Leader. These new categories recognize and support an ecosystem of social innovation to accelerate the world’s collective progress. The awardees were selected by Schwab Foundation board members in recognition of their innovative approach and potential for global impact. These members of the board include Helle Thorning-Schmidt, prime minister of Denmark (2011 to 2015); and social innovation expert Johanna Mair, professor of

organization, strategy and leadership at the Hertie School of Governance in Germany. “Social entrepreneurs are no longer working in isolation—the Schwab Foundation recognizes the champions of social innovation in the social sector, but also in business, government and academia. We see social innovation as an ecosystem of pioneering actors with a common purpose,” said Hilde Schwab, cofounder and chairman of the Schwab Foundation for social entrepreneurship. “We have introduced the new award categories based on the multistakeholder model of the World Economic Forum as we endeavour for this dynamic community to build platforms for greater and more sustained change.” “The 2019 Schwab Foundation awardees represent a new ecosystem of leaders who are driving change and shifting organizations and systems toward a more just, inclusive, sustainable future,” said François Bonnici, head of the Schwab Foundation for social entrepreneurship. “Not only do they demonstrate alternative models that better serve our society and planet, but they also show that mobilizing and transforming society is possible by instilling innovation into the levers of policy, finance and research for greater inclusion and sustainability.”

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“With credibility, I mean what I say. That is why, it came to a point when [business people] would reply to me after just one text message,” she said. Bustamante noted that being a nobody when she and husband, Richard, started, people were hesitant to trust them. However, she said, they were able to prove their vision, and thus, little by little, sponsors eventually partnered with them. Now on its 10th year, the Asia CEO Awards gives recognition to top-performing Filipino business leaders across Asia. “We started with just 18 people. We didn’t even have proper food to offer. Our first Awards were attended by only 350 people,” she added.

Know your purpose

“Know your whys. You’ve got to have a vision, because if you don’t, it would be like driving a car without knowing where to go,” Bustamante said. The executive also suggested that it really works when someone creates a timeline of his or her goals. It’s a must, she said, for someone to set a certain period as to when he or she would like to achieve a specific goal.

Keep going

“Nothing can stop you,” she said, adding that one must never give up. Bustamante, herself, has been through a lot. At 19, she had to take the responsibility of sending her siblings to school, as well as pay their bills. At that age, too, she was mistreated as a domestic helper (DH) in Singapore. Back then, her vision was clear— that she must not be a DH forever. “How can I help my siblings if I won’t be able to help myself? Now, my siblings are also successful,” she said.

Don’t waste your time

“WE all have 24 hours in a day. The question is, ‘How are we going to spend it?’” Bustamante said, noting that she, for example, used her evenings as DH to study and read books. She used to listen to motivational tapes while mopping the floor. “Millennials are so lucky. These days, they can learn everything online. However, [some of them] don’t make use of this, and act as if things must adjust for them,” she commented. The youth, she said, must use their time to develop their skills. Also, getting a degree is different from learning from the experts and from experience, Bustamante added.

Find your niche

Bustamante confirmed that one only need to be courageous to become an entrepreneur, even if he or she does not have capital. “Money will come. What’s more important is that you know your purpose,” she said. Many services do not require capital, according to Bustamante. “Your skills should be different from what the others are offering. It’s important for an aspiring entrepreneur to determine what he can offer,” she said. One cannot just talk about skills, but rather show them, she added. For 10 years now, Bustamante has been focusing on the Asia CEO Awards, a business awards that recognizes leaders in the country and across the Asian region. She also founded Chalre Associates, which focuses its senior manager staffing services in emerging countries of the Asia Pacific. She previously told that the Asia CEO Awards was conceptualized to recognize the struggles of CEOs. “It’s for the people at the bottom to be inspired. I want them to realize that these CEOs were also at the bottom before, and have struggled to slowly climb the ladder,” she said. Even if she has been successful, Bustamante said she has not changed. “I still feel the same. I don’t feel different. The only difference now is that I could buy food and clothes that I want. I used to wear worn-out slippers. Before, I was already lucky if I had tuyo [dried salted fish],” she said. PNA

Domestic helper-turned-entrepreneur Rebecca Bustamante, president of the Asia CEO Awards, urges aspiring entrepreneurs to work hard to achieve their goals, at the recent 10th Asia CEO Awards in Pasay City. Now on its 10th year, the Asia CEO Awards honors top-performing Filipino business leaders across Asia. PNA photo by Cristina Arayata

DTI opens 16th Negosyo Center in Malolos, Bulacan

Angat Mayor Leonardo de Leon (second from left) and DTI Region 3 Director Judith Angeles (second from right) lead the opening of Negosyo Center in Angat, Bulacan, last September 28, 2019. This is the 16th Negosyo Center in Bulacan and the 97th in Central Luzon. File photo courtesy of DTI Bulacan

ITY of Malolos, Bulacan— The Department of Trade and Industry (DTI) Bulacan Provincial Office continues to reach and assist micro, small and medium enterprises (MSMEs) throughout the province with the establishment of more Negosyo Centers. Mary Grace Sta-Ana Reyes, DTI Bulacan information officer, said on Monday there are now 16 Negosyo Centers in the province, the latest in Angat town that was launched last September 28. “The DTI, through the establishment of Negosyo Center, aimed at helping the MSMEs to expand their business operations,” Reyes said.

Meanwhile, DTI Region 3 Director Judith Angeles expressed confidence that the municipality of Angat will be more progressive with the recent launch of the Negosyo Center. “Bulacan is the most progressive province in Central Luzon because of the number of registered businesses. I think 35 percent of business registrations in the region comes from Bulacan. Angat, as one of the firstclass municipalities of the province, is rich in natural resources and skills that can be used as capital for starting a business, I’m sure that the municipality of Angat will be more progressive with the launching of the Negosyo Center,” Angeles said.

Angat’s major industries are farming, poultry and livestock raising, concrete aggregates, marble, and garments. Angat Mayor Leonardo de Leon, for his part, thanked the DTI for putting up the Negosyo Center in his town that could help in empowering those who are in business important to providing more jobs in the locality. “We are very fortunate because it will help everyone who wants to make a living. We should all be aware of the importance of doing business thus, all of us especially those in the market, or those who want to start their own business, shares

the information to all that business name registration is already here in Angat,” de Leon said. Services being offered in the Negosyo Center include business name registration assistance, barangay micro business enterprises registration, business advisory services, business information and advocacy, and monitoring and evaluation of business process improvement. The establishment of Negosyo Centers in the country is mandated through Republic Act 10644, otherwise known as the Go Negosyo Act of 2014, which aims to promote job generation and comprehensive growth in establishments. PNA