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Wednesday, October 16, 2019 Vol. 15 No. 06

7-yr sunset period for ecozone perks likely E

By Elijah Felice E. Rosales

est discussions among legislators, firms operating in economic zones will most likely end up with seven years before they surrender all of their tax perks as required by the

‘Friend to friends, enemy to enemies, worse enemy to false friends’

@alyasjah

CONOMIC zone locators will most likely end up with seven years to relinquish all of their fiscal incentives under the Senate version of the Corporate Income Tax and Incentives Rationalization Act (Citira) bill, the country’s trade chief has disclosed.

Trade Secretary Ramon M. Lopez said senators are working on a magic number for the sunset period to be given to existing locators in giving up their incentives. In lat-

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Citira bill. “There are talks among senators [to grant locators] seven years straight with no discrimination on the number of years they are

“As such, we are working on a number that would not be too short and not too long, and right now seven years might be that magic number.”—Lopez

registered here,” Lopez told the BusinessMirror. Under this proposal, economic zone firms will be provided with seven years to drop all of their incentives, and this applies to everyone without regard to the number of years registered with the Philippine Economic Zone Authority (Peza). See “Ecozone,” A5

Teddy Locsin Jr.

free fire Welcome remarks by Foreign Affairs Secretary Teodoro L. Locsin Jr. at the 2019 Global Conference of Heads of Posts (G-Chop) held on October 11, 2019, at the New World Hotel in Makati City.

elcome to G-Chop. I just got in; Amy Aquino is just leaving Moscow; Ambassador Sorreta is wrapping up after the President’s successful visit. I didn’t have time to go over my welcome remarks. I like it but I’ve heard a bit of it before from myself. That is not what G-Chop is about. It is about getting reactions from our foreign posts on developments where they have been serving, and their reflections on the broader implications of those developments in the conduct of Philippine foreign policy throughout the globe. Continued on A6

Remittance flows back to normal in August

DILG asked: Reconsider lifting LGU ban on meats

By Bianca Cuaresma

@BcuaresmaBM

OLLOWING a month of contraction and a month of sudden influx, the growth of cash sent by Filipino migrants back home normalized in August, data from the Bangko Sentral ng Pilipinas (BSP) showed. Cash remittances grew 4.6 percent in August this year as Overseas Filipino Workers (OFWs) sent in $2.59 billion in cash back home. This, after remittances had declined for the first time in 2019 in June by 2.9 percent, and then surged to a growth of 7.5 percent in July—the fastest for the year. The normalization of remittance growth in August followed the See “Remittance,” A5

PESO exchange rates n

WORLD CHAMPIONS ARE HOME World champion gymnast Carlos Yulo and boxer Nesthy Petecio are back home on Tuesday night and among the firsts to welcome them are Philippine Olympic Committee President Abraham Tolentino, Philippine Sports Commission Chairman William Ramirez and Gymnastics Association of the Philippines President Cynthia Carrion. With them is Asian champion pole vaulter EJ Obiena, who, like Yulo, has qualified for the Tokyo 2020 Olympics. Story on C3. NONIE REYES

N agricultural umbrella group appealed to the Department of the Interior and Local Government (DILG) to reconsider its order to exempt processed meat products from domestic transport bans pending thirdparty tests that would prove that these items are free from African swine fever (ASF) virus. In a letter to Interior Secretary Eduardo M. Año, the Samahang Industriya ng Agrikultura (Sinag) expressed “grave concern” over Año’s reported order that would urge local government units (LGUs) to lift the ban on processed pork products. “As admitted no less than by the President of the Philippine Association of Meat Processors [Pampi], no testing has ever been done to determine if their products are ASF-free or not,” Sinag Chairman Rosendo O. So said in the letter.

So explained that Sinag has already requested the Department of Agriculture (DA) to tap an independent third-party service to conduct laboratory tests on frozen meat products but to no avail. “There is yet any testing done that will ascertain if these processed pork products are free from the African swine fever virus,” he said. “We have requested the Department of Agriculture to test all frozen meat in cold-storage facilities, through an independent third party like the SGS but no official action has been taken,” he added. So pointed out that there “have been several incidences that confirmed the contamination of processed pork that entered” the country. Furthermore, he noted that a Pampi member also imported pork products from banned countries. See “DILG,” A5

US 51.5060 n japan 0.4752 n UK 64.9491 n HK 6.5654 n CHINA 7.2883 n singapore 37.6121 n australia 34.8902 n EU 56.8111 n SAUDI arabia 13.7324 Source: BSP (15 October 2019 )

News

BusinessMirror

A2 Wednesday, October 16, 2019

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DOE pushes oil deregulation law revision

By Lenie Lectura

@llectura

NERGY Secretary Alfonso Cusi is pushing for the revision of the oil deregulation law so his office can enforce a proposed policy that seeks to unbundle fuel prices.

“We discussed that in the Cabinet and proposed to review the oil deregulation law because we need to have more transparency and really know how we price it. “And I also issued a show-cause order on the difference of the oil price between Baguio, for example, and in Pangasinan or Manila. There

is that price difference. I want that price difference to be unbundled. If I cannot unbundle the whole of the price, I want to unbundle the difference,” an irate Cusi said when asked for an update on the DOE unbundling circular as well as the show-cause orders issued against 13 oil companies.

Cusi hopes to gain the support of the lawmakers on this. “I believe that the Cabinet is with us because it is the interest of the people that is at stake.” The DOE has kept close watch of fuel pricing since the September 14 drone attacks damaged key oil facilities in Saudi Arabia, as the Philippines imports nearly all of its crude oil requirements. Section 14 of the Downstream Oil Industry Deregulation Act of 1998 mandates the DOE to monitor and publish daily international crude oil prices, as well as follow the movements of domestic oil prices.

Unbundling circular

The DOE unbundling circular requires oil companies to unbundle their price adjustments. They

“There is that price difference. I want that price difference to be unbundled. If I cannot unbundle the whole of the price, I want to unbundle the difference.”—Cusi

should submit a report to the DOE with a detailed breakdown of their import costs, tariffs, biofuel costs, oil company take components, and other essential cost components that contribute to the changes in retail prices. Cusi said these enhancements would provide the DOE and other relevant government agencies with data necessary to formulate proactive and appropriate policy initia-

Why grant tax perks? Expert cites market failure test

MARKET failure test is the most conventional justification for granting tax incentives, a UP Economics professor said, as lawmakers and economic managers continued discussions on gamechanging legislation to rationalize numerous perks worth billions in forgone revenue. In a special forum on the Corporate Income Tax and Incentives Rationalization Act (Citira) bill on Tuesday, economist Dr. Renato Reside Jr. said the government must first analyze the tax expenditures very well. “Were they the best use of public funds to

Hotels. . .

Continued from A8

Salary gaps

Sales professionals who leave for jobs abroad, she noted, do so because of the large disparity in salaries. “They are paid much higher abroad; for instance sales staff in Manila receive P15,000 basic salary plus share from the service charge, while abroad, they receive P25,000 plus service charge and incentives.” Despite the labor shortage, a recent report by STR showed profits of Metro Manila hotels are rising. Revenue per available room, calculated by multiplying a hotel’s average daily rate by its occupancy, has been healthy across all guest segments, rising by 5.6 percent for transients (shortstay guests) and 9.6 percent for groups in the 12 months to May 2019. In fiscal year 2018, RevPAR was flat, according to the report. (See, “Profits of Metro Manila hotels rising–STR,” in the B usiness M irror , September 12, 2019.) This year’s Virtus Awards attracted a wide group of nominees from Bayleaf Intramuros, Bellevue Hotels and Resorts, Bluewater Maribago Beach Resort, City of Dreams Manila, Conrad Hotel Manila. Crimson Hotel Filinvest City, Crimson Resort and Spa Boracay, Diamond Hotel Philippines, Golden Phoenix Hotel Manila, Hotel 101 Manila, Hotel Jen Manila by Shangri-La, Joy Nostalgia Hotels and Suites Manila, Las Casas Filipinas de Acuzar, Lima Park Hotel, Midas Hotel and Casino, Oxford Suites Manila, Quest Hotel and Conference Center Cebu, Seda Hotel Abreeza, Sofitel Philippine Plaza Manila, Solaire Resorts Manila, and Taal Vista Hotel. This year’s winners are: Rigil Kent Acapulco

TFA. . .

Continued from A8

corresponding change of 0.15 percent in global real output. The authors said full TFA implementation could also deepen value chains by promoting trade in intermediate relative to final goods. Results showed that trade in final goods could increase by 5.2 percent, compared with 5.4 percent for intermediate goods. “Surprisingly, we also found that by streamlining their import regimes, economies tend to benefit in terms of export, as well.

stimulate investments?” Reside said. Some of the tax incentives under Citira include 10-percent deduction for qualified capital expenditure for buildings, 20-percent deduction for depreciation for qualified capital expenditure for machinery,100-percent deduction for labor training, and exemptions from customs duty for the import of raw materials and equipment. “When you look at them, you will find out that there are many ‘motivators’ of investment. This country lacks motivators of incentives, [these include] good infrastructure and a

(The Bellevue Manila) and Ian Bencio David (Conrad Manila) for Outstanding Sales and Marketing Associate; Marvia Jelizha Villarin (The Bellevue Hotels and Resorts) for Outstanding Sales and Marketing Manager; Evangeline Imperial (Solaire Resort Manila), Outstanding Sales and Marketing Leader; and Taal Vista Hotel 80th Anniversary: Here for Always (Taal Vista Hotel) and Passionately Pink (Crimson Hotel Filinvest City) for Outstanding Marketing Campaign. In her remarks at the awards, Tourism Secretary Bernadette Romulo Puyat attributed the strong performance of the tourism sector to the stakeholders who have worked through many challenges to attract visitors to the country. “The spectacular rise of Philippine tourism is the result not only of our work at the DOT; due credit must be given to all who help push us forward, toward our goals—people and organizations, like the HSMA, whose passion and love for our country go beyond their organizations’s objectives.” She underscored the cooperation, coordination and collaboration between the stakeholders and government, with the HSMA, now in its 40th year, among those groups the DOT relies on, especially in policy consultations. “We value the generosity and readiness of the HSMA Board to offer us counsel—drawing on their rich, invaluable collective marketing experience—as we formulate projects and policies that work and have tangible, measurable results.” Foreign visitor arrivals rose by 14 percent to 5.5 million in the eight months to August 2019, with South Korea, China, Japan, and the United States accounting for the largest share of travelers. (See, “8-mo. foreign tourist arrivals up 14% to 5.5M,” in the BusinessMirror, October 14, 2019.) What is driving the results? As the Trade Facilitation Agreement is implemented, it brings down the price of imported goods relative to exported goods. As a result, there is an incentive for domestic production to shift from importcompeting sectors to export sectors. Exports expand as a result,” the authors said. The authors said ultimately, developing economies have much to gain from implementing the TFA. The Agreement, they said, gives the signatory economies significant latitude in deciding which elements to adopt and on what time frame.

highly skilled work force; these are things that can benefit from public goods,” Reside explained. He highlighted the use of a market failure test. Some causes of market failure are market control, public goods, negative externalities, and imperfect information. “You can always apply the market failure test. Can the tax incentives address the market failures? Did it enhance the capital? Did it reduce poverty? Did it move us up the value chain? If the answer is yes, then by how much?” the economist explained. Reside added that the govern-

Polio. . .

Continued from A8

The campaign aims to cover around 1.8 million children under five years old in the three areas, as well as in Davao del Sur and Lanao del Sur. “We will work closely with the Department of Health to achieve this target. We need bayanihan [community-spirit] from everyone —the parents and caregivers, mayors, governors, community and religious leaders, health workers, volunteers, and media partners,” Abeyasinghe said, stressing that polio is a highly infectious and potentially fatal disease caused by a virus. For her part, Oyun Dendevnorov, Unicef Philippines Representative, said that every child under five years old in listed priority areas. “There is no alternative to protect children from the risk of polio than vaccinating them. The polio vaccine is safe and effective. Unicef is working with WHO to support DOH meet the country’s immunization targets,” she said. Polio invades the nervous system and can cause paralysis, or even death in a matter of hours. There is no cure for polio but it can be prevented through safe and effective vaccines. The Philippines has seen a decline of immunization coverage in the past few years, including for protection against polio. In 2018, at least 66 percent of children completed their oral polio vaccine (drops) doses and 45 percent received their inactivated polio vaccine (injection) dose. At least 95 percent of children under five years of age need to be vaccinated, irrespective of their current vaccination status, to stop the spread of polio in the country. WHO and Unicef are working with the Philippine Government to support vaccine supply and cold chain management, on-theground coordination, operations support and From an economic standpoint, the authors said developing countries should strive for an implementation plan that is as complete as possible over a reasonable time frame, in order to enjoy maximum benefits in terms of increased trade and real output. ADB is doing its part to support the TFA implementation. Work is also being done to simplify trade documentation, promote automation in border agencies, develop a national single window platform, develop trade-related infrastructure, and assist in a variety of other areas. “In a time of great trade uncer-

ment must recognize that Asean countries have different economies. “When you look at our neighbors, they also grant tax incentives, and some of them, most especially newly industrialized economies like Taiwan, Hong Kong and Singapore, they use targeted incentives—which is what the Philippines tries to emulate.” But, he added, “you also have to ask, what were the other circumstances? If we compete endlessly on the basis, don’t we need to recognize that Asean countries are completely different in ways beyond tax incentives?” he concluded. Jove Moya

monitoring. They are also working to ensure clear communication to mobilize the general public aiming to achieve high turnout of all children under five years old for vaccination.

Red Cross

Armed with service kits and vaccines, volunteers of the Philippine Red Cross (PRC) braved the heat of the sun and conducted door-to-door vaccination for children ages zero to five. PRC, through its chapters from NCR (Manila, Pasay, Quezon City, Marikina, Caloocan, Navotas, Valenzuela, Taguig, Muntinlupa and Las Piñas) and Mindanao (Davao City, Davao del Sur and Lanao del Sur) joined the “Sabayang Patak kontra Polio” campaign of the Department of Health (DOH) which kicked off on October 14. Each vaccination team deployed to the barangays has four volunteers—a team leader, a health educator, a recorder and a vaccinator. The team leader secures the list of the children to be vaccinated and leads the team to the households. The health educator explains what the vaccination is for and gives advice on good health and hygiene practices—as a dirty environment encourages the spread of polio. The recorder gets the details of the child and the family, and also secures the consent for the vaccination. The vaccinator administers the vaccine. This strategy not only ensures that vulnerable children are vaccinated and properly recorded but also provides an avenue to explain the vaccines to parents and guardians. The DOH recorded a 95-percent decline in polio vaccination among children below five years old last year. “It is through the power of [our] pool of volunteers that the Red Cross can help our partners in fighting polio in the Sabayang Patak kontra Polio,” said Sen. Richard J. Gordon, PRC chairman and CEO. Claudeth Mocon-Ciriaco tainty, the WTO’s Trade Facilitation Agreement can help economies chart a course through the storm,” Kumar and Shepherd said. WTO members concluded negotiations at the 2013 Bali Ministerial Conference on the landmark TFA, which entered into force on February 22, 2017, following its ratification by two-thirds of the WTO membership. The WTO estimated that full implementation of the TFA could reduce trade costs by an average of 14.3 percent and boost global trade by up to $1 trillion per year, with the biggest gains in the poorest countries.

tives for the benefit of consumers and the downstream oil industry. Furthermore, the data provided will support the DOE-DOJ (Department of Justice) task force investigations on reported incidents of anti-competitive behavior. Oil firms oppose this, however, because, among others, they would have to reveal their so-called industry take amid a deregulated environment. While the DOE is barred from implementing the circular, the DOE’s only recourse for now is to recommend amendments to the oil deregulation law. DOE Undersecretary Felix William Fuentebella said the oil firms also cited the same arguments in response to the show-cause orders issued by the agency recently. “Their initial reaction is carbon

copy of responses in the cases pending before the courts in relation to the unbundling case. They cited reasons but not details, citing the oil deregulation law. So, our legal team now is looking into the impact of this in the unbundling case. How do we move forward?” said Fuentebella. The show-cause orders were issued in view of the apparent difference in the oil price rollback calculations between the DOE and oil firms. Local oil companies reduced gasoline price by P1.45 per liter, diesel by P0.60 per liter and kerosene by P1 per liter. However, the DOE said the price reduction for gasoline was short by 22 centavos per liter, while the rollback for diesel was short by .06 centavos.

DBM releases 95.3% of ₧3.7-T 2019 budget By Bernadette D. Nicolas

@BNicolasBM

HE Department of Budget and Management (DBM) has released P3.491 trillion, or 95.3 percent of the P3.662trillion 2019 budget as of endSeptember. In a statement on Tuesday, the DBM said the immediate release of funds will ensure that the national government agencies can swiftly implement their programs and projects, such as the construction of new roads, schools, and hospitals, and the protection and promotion of welfare of the poor and marginalized sectors, among others. Broken down, allotment releases to the line departments amounted to P2.011 trillion from January to September. These included funds allocated for agencies in the three branches of government, as well as other constitutional offices. At the same time, releases from Special Purpose Funds reached a total of P317.882 billion. Special Pur pose Funds are budgetar y a l locations in t he G e ne r a l A p pro pr i at ion s A c t (GA A) allocated for socioeconomic purposes, such as Budgetary Support to Government Corporations, Allocation to Local Government Units, Contingent Fund, Miscellaneous Personnel Benefits Fund, National Disaster Risk Reduction and Management Fund, as well as Pension and Gratuity Fund. Meanwhile, allotment releases for automatic appropriations— those programmed annually or for some other period prescribed by law—increased to P1.070

trillion, making up 99.9 percent of the program for automatic appropriations. T he autom at ic ap propr i ations include 100 percent of the following: FY 2019 program for the Internal Revenue Allotment (IR A) of local government units, Pension of Ex-President/ Ex-President Widows, Net Lending, Interest Payments, and Tax Expenditures Fund/Customs Duties and Taxes. Aside from this, P50.254 billion in payments for the Retirement and Life Insurance Premium requirements was released, inclusive of P3.09 billion pertaining to additional requirements for newly created or newly filled positions in various agencies, resulting in a 106.6 percent release for the category. Moreover, other releases by DBM, such as continuing appropriations of the 2018 GA A for line departments and releases from SPFs, amounted to P25.043 billion. Continuing appropriations refer to appropriations available to support obligations for a specified purpose or project, such as multiyear construction projects which require the incurrence of obligations beyond fiscal year. A total of P40.481 billion was released for unprogrammed appropriation—standby appropriations that authorize additional agency expenditures for priority programs and projects when revenue collections exceed the resource targets or when additional grants or foreign funds are generated. Lastly, the released allotments for other automatic appropriations amounted to P25.766 billion.

BSP cuts reserve requirement for bond issuances to 3 percent

HE Bangko Sentral ng Pilipinas (BSP) announced on Tuesday that it has also slashed the reserve requirement needed for bond issuances, following their mandate to reduce the banks’ reserve requirement ratio to single digit by the end of the governor’s term. In a statement, the monetary board announced that it has approved the reduction in the reserve requirement rate for bonds issued by banks and other financial institutions to 3 percent. The BSP said this is “part of its commitment to contribute to deepening of the local debt market.” This rate is lower than the required reserves of other debt instruments issued by banks such as long-term negotiable certificates of time deposits, currently at 4

percent. “The lower bank reserves on bond issuances is expected to reduce the bond issuers’ intermediation cost that could be passed on to the holders of such securities,” the BSP explained. “The adjustment in the required reserves for bonds complements the BSP’s earlier policy issuance streamlining the rules and requirements for the issuance of debt instruments by banks and other financial institutions,” it added. According to the statement, the initiative is intended to incentivize banks and other financial institutions to tap the domestic bond market as part of its liquidity management. The new reserve requirement ratio shall take effect on the reserve week beginning November 1, 2019. Bianca Cuaresma

Economy BusinessMirror

Editor: Vittorio V. Vitug

Wednesday, October 16, 2019 A3

Vehicle sales posts modest 2 percent growth in September–Campi, TMA By Elijah Felice E. Rosales

@alyasjah

UTOMOBILE sales in September grew a little over 2 percent on positive performances from both passenger car (PC) and commercial vehicle (CV) segments, providing the automotive industry a muchneeded boost as it makes a last push to hit its target this year.

In a sales report on Wednesday, the Chamber of Automotive Manufacturers of the Philippines Inc. (Campi) and the Truck Manufacturers Association (TMA) reported September sales went up 2.26 percent to 31,820 units, from 31,116 units during the same month last year. Both the PC and CV brackets registered growths, but at minimal rates. Sales of PCs improved close to 3 percent to 9,721 units, from 9,441 units, while those of CVs rose nearly 2 percent to 22,099 units, from 21,675 units. As such, industry sales after three quar-

ters grew 2.37 percent to 267,364 units, from 261,161 units during the same stretch last year. Sales of CVs, which account for seven in every 10 units sold by vehicle assemblers, expanded 3.92 percent to 187,047 units, from 179,979 units. However, PC sales during the nine-month period dipped a little over 1 percent to 80,317 units, from 81,182 units, reflecting the protracted demand slowdown for passenger vehicles tracing back to last year when the government applied excise taxes on automobiles. Campi President Rommel R. Gutierrez

said the industry’s projected recovery this year will most likely show up in the fourth quarter, initiated by the sales growth in September. September, he explained, is historically the beginning of an upward trend in vehicle sales, as the public begins to spend for the upcoming holiday season. “We are optimistic that the industry is well positioned and prepared to progressively get back on track toward strong positive growth in the coming months,” Gutierrez said. Last year vehicle sales declined over 16 percent to 375,410 units, from 425,673 units in 2017, due in large to tax hikes, record high inflation, unstable fuel prices and rising interest rates. The industry is eyeing to recover this year by growing 10 percent in sales. As of September, Toyota Motor Philippines Corp. is leading the industry with a share of nearly 43 percent of the market. Trailing the industry leader are Mitsubishi Motor Philippines Corp. and Nissan Philippines Inc. with market shares of 17.2 percent and 12.33 percent, respectively. Rounding up the industry’s leading five are Suzuki Philippines Inc. and Ford Motor Co. Philippines Inc., holding 6.52 percent and 6.12 percent of the market, accordingly.

WB unit cites PHL’s progress in banking reforms to fight climate change By Cai U. Ordinario

@caiordinario

HE Philippines is one of 38 emerging market economies that have initiated banking reforms to fight climate change, according to World Bank’s private-sector arm, the International Finance Corp. (IFC). In its second Global Progress Report of the Sustainable Banking Network (SBN), IFC said the Philippines is now on the formulating stage of its efforts to create a framework for green bond markets and lending portfolios. Emerging market economies that are on the same boat as the Philippines include Thailand, India, Ghana, Fiji and Egypt. Other Asean countries, such as Cambodia and Vietnam are in the implementation phase, while Indonesia is considered a first mover. “SBN members have demonstrated that transforming financial markets toward sustainability is possible,” said Georgina Baker, vice president of IFC, World Bank Group. “Emerging markets are on the forefront of this shift—and SBN’s tools and guidance have laid the groundwork for more countries to follow suit.”

In a news statement, IFC said in the last few years, a broad range of initiatives linked to environmental and social risk management and green finance have been undertaken by the country. IFC said this showed that efforts are being made by the banking regulators and banking associations to raise awareness, build capacity and encourage stakeholder engagement. The Bangko Sentral ng Pilipinas (BSP) is currently drafting a policy framework for sustainable finance in response to growing market awareness and appetite for green and sustainable financing. The policy is targeted for completion by the end 2019. “The capacity building and sustainable finance policy initiatives of the Bangko Sentral ng Pilipinas were enriched by the knowledge resources, information and peer learning activities accessed through our membership in the Sustainable Banking Network. We are grateful to the International Finance Corp. for the continued support as we ramp up our efforts to implement our sustainable finance agenda,” BSP Governor Benjamin E. Diokno said. The reforms, IFC said, require banks to assess, manage and report on environmen-

tal, social and governance risks in their lending operations and put market incentives in place for banks to lend to green projects. Of the 38 countries, 22 have adopted national sustainable finance policies and voluntary principles, seven of which were launched in 2019 alone. The report also captures the progress made by 14 countries to actively grow their green bond markets; and data shows increasing innovation by financial institutions to green their lending portfolios. “Ultimately, SBN is about collaboration,” said Ye Yanfei, deputy director general of China Banking and Insurance Regulatory Commission and cochairman of SBN Measurement Working Group. “By bringing together regulators, policy-makers, trade associations and development institutions, SBN has been able to not only turn sustainable finance policies into action, but also strengthen measurement to capture market impact.” Established in 2012, SBN now represents 53 financial regulators and banking associations from 38 emerging countries committed to sustainable finance. SBN’s member- countries represent $43 trillion—or 85 percent— of emerging market banking assets.

Duterte administration urged to ramp up spending on infra By Jovee Marie N. Dela Cruz @joveemarie

OUSE leaders expressed confidence on Tuesday that an economic expansion of 6 percent, or even above, remains “doable” by further ramping up state spending in the last quarter of the year. Deputy Speaker for Finance Luis Raymund Villafuerte said measures that Congress could undertake to help the Executive accelerate state spending, especially on infrastructure and human capital development to further stimulate growth in the year’s remaining two months and a half, should be discussed by the Legislative-Executive Development Advisory Council (Ledac). “Perhaps we need to further expedite the implementation of ‘Build, Build, Build’—given infrastructure development’s great multiplier effects on the economy—in order to boost growth in the last quarter,” said Villafuerte, who is a Ledac member, in a news statement. According to Villafuerte, the House leadership is optimistic that a gross domestic product (GDP) growth rate of 6 percent and above remains doable at this point, considering that the relatively good weather is conducive for speed up work in public sector construction. “The 5.8-percent growth rate for the Philippines projected by the World Bank is still commendable, as this still makes our economy among the fastest growing in Asia and the world,” he added. The lawmaker said the World Bank’s tempered growth projection for the country is not unexpected, as growth in the first two quarters were hobbled by the delay in the

passage of the 2019 national budget in the House during the previous Congress. World Bank senior economist for the Philippines Rong Qian, at a news briefing last week, lowered the full-year GDP growth forecast for the Philippines. This, Villafuerte said, partly because of the four-month-and-a-half delay in the implementation of the 2019 General Appropriations Act (GAA), which had forced Malacañang to run the government on a reenacted budget and hold off on the implementation of major programs and projects during that period. However, Duterte administration economic managers bared earlier that the government had underspent by about P1 billion each day while operating on a reenacted 2018 budget in most of the year’s first semester.

Working overtime

MOREOVER, Villafuerte said the lower chamber will continue to work overtime to pass the administration and 18th Congress’ priority measures, including the 2020 national budget, on time. With the House’s early transmission of the 2020 General Appropriations Bill (GAB) to the Senate before the October 3 to November 4 break, he said, the bicameral Congress is on target to submit a consolidated bill to President Duterte for his signature before the year-end. “This was why under the leadership of Speaker Alan Peter Cayetano, he had made sure that the House would work double time, sometimes for 10 hours straight during the plenary on a five-day workweek, so that the proposed 2020 national budget could be passed in record time—without

any pork, illegal insertions or parking of funds,” Villafuerte said. The House, meanwhile, also vowed to act on the pending priority measures through active the participation of lawmakers when session resumes on November 4. Speaker Alan Peter Cayetano and Majority Leader Martin Romualdez have led their colleagues in posting 82 percent attendance record during the first two months of the 18th Congress, or from July 22 to September 23. According to the House records, an average of 246 of the 300 lawmakers attending the session, or 20 session days when Cayetano, or the presiding officer ordered a roll call. It was on July 22, or during the election of Speaker, when the House of Representatives posted 297 lawmakers attending the session, the highest number of members present. Based on records, the lowest attendance of 185 was recorded on August 20, a Tuesday, or the day sandwiched by holidays where the House decided to convene. Romualdez, for his part, said lawmakers have delivered Duterte’s legislative agenda after processing a total of 220 measures in 20 session days. Among the bills approved on third and final reading include House Bill 4228 or the 2020 national budget, HB 1026, or a measure imposing additional excise taxes on alcohol, tobacco and vape products, HB 300, or amendment to the Foreign Investment Act of 1991, HB 304, or the Passive Income and Financial Intermediary Taxation Act (Pifita) and HB 4157, or the Corporate Income Tax and Incentive Rationalization Act (Citira), said Romualdez.

OFWs emerge as valued clients, investors in UAE By Samuel P. Medenilla @sam_medenilla

VERSEAS Filipino workers (OFWs) are now being targeted as valued clients and investors in the United Arab Emirates (UAE) amid their increasing contribution to the Arab country’s economy. Public relations firm EON said an increasing number of multinational companies, which deals with fashion and luxury brands, resorts and real estate in UAE, are now considering some Filipinos as potential valued clients. EON Chief Innovation Officer Carlos A. Rodriguez said this is supported by the results of their study EON Insight: Focus on the Filipino in the UAE, which was released last September. “In terms of purchasing power, the Filipinos are now able to spend on a lot of things in the UAE. And, therefore, companies in the UAE should market to them more effectively,” Rodriguez told the BusinessMirror in an interview.

New categories

THE study divided the over 750,000 documented OFWs in UAE based on their skills, behavior and income into three categories. The first are expat achievers, those who earn a monthly salary of AED13,000 a month. They are usually highly skilled and have a entrepreneurial mindset, and are employed as doctors, engineers, architects, fashion designers, information-technology (IT) experts and business owners. Only around 18 percent of the overall OFWs in UAE belong to this group, but they tend to be the ones who tend to spend on luxury brands. The second group with the most number of representation (20 percent) in the UAE come from the “bayaning survivor.” These include household service workers (HSW) and construction workers, who earn more than AED 3,000 to AED 7,999. They tend to send most of their earning to their families in the Philippines. The bulk, or 37 percent, of the Filipinos in UAE are the Pinoy Dreamer group, who earn AED 3,000 to AED 7,999. This category include nurses, hotel personnel, service crew, IT or office staff, as well as marketing personnel. “They are in sectors that directly contribute to UAE’s gross domestic product [GDP],” Rodriguez said. Rodriguez added it is this group which most companies in UAE are aiming for since they tend to be “fashion oriented and are likely to try new brands and products.” “The facts [show] these Filipinos…are earning more money than before. And in terms of consumptive behavior, they [are] actually the biggest spenders compared to the other large populations of expats like Indians and Pakistanis,” Rodriguez said.

Better policies

THE EON study covered over 600 respondents in their online and face-to-face surveys, as well as 100 individuals who went through

In terms of purchasing power, the Filipinos are now able to spend on a lot of things in the UAE. And, therefore, companies in the UAE should market to them more effectively.” —Rodriguez

focus group discussions. Rodriguez said they hope their study will helpfully translate to better improve treatment and policies for Filipinos in the UAE. “They [government and business executives] were surprised [with the new Filipino market segments]. But it was already at the back of their minds so it was just like a validation. Before all they got was largely anecdotal with no hard numbers and study to back it up,” Rodriguez said. He noted OFWs tend to face discrimination in the UAE since they are often stereotyped as low skilled and have minimal income. “If they know we became successful through our own merits and we are earning more money than the rest,” Rodriguez said. “These form part of the reasons why discrimination dissipates. The biases are deconstructed. It is just one of the many things which is making the UAE a much better place for the Filipinos,” he added.

Potential opportunities

THE shift with regards to the perception of Filipinos in UAE, EON said, is now apparently improving as more multinational companies are availing of their services in the UAE. EON has just opened a new branch in UAE last year as part of its international expansion initiative. “We have been getting a lot of calls from companies for information and if they can get meetings with us...we’ve just started closing these deals. We just began some campaigns,” Rodriguez said. Currently, he said, only 30 percent of their clients in UAE are multinationals, while the remaining 70 percent are from Filipino firms. “We have clients which are Filipino companies. They are primarily targeting Filipino markets. But we are now in talks with our existing clients who are looking to expand their marketing to include other nationalities,” Rodriguez said. He said most Filipino companies they have business deals are in the logistics, entertainment and service sector. He said they are targeting to increase the international clients in UAE to 50 percent once they further expand their operations in said country in the coming years.

The Nation BusinessMirror

A4 Wednesday, October 16, 2019 • Editor: Vittorio V. Vitug

DENR probes deeper into fish kill, shellfish mortality in Manila Bay, Parañaque, Las Piñas By Jonathan L. Mayuga @jonlmayuga

HE Depa r t ment of Env ironment and Natura l Resources (DENR) is conducting a thorough investigation into the massive fish kill in Manila Bay in Las Piñas and Pa ra ñaque C it ies, a nd shel lfish mortality affecting mussel farms in Bacoor City and Sangley Point, Cavite. The twin incidents triggered speculations that the water quality in the affected area has worsened, contrary to earlier claims by concerned government agencies heralding the “positive impact” of an ongoing effort to rehabilitate Manila Bay. The Department of Agriculture (DA), following the reported incident of fish kill, has deployed its Fishery Law Enforcement-Quick Response Team (FLE-QRT) in the affected areas on October 10, and reported that that the fish kill has resulted in the loss of an estimated volume of 1 to 2 tons of fish composed mainly of bagaong, bakule, sapsap, tilapia, bakoko, siliw, manabon and barakuda. The DA’s Bureau of Fisheries and Aquatic Resources (DA-BFAR) further said in a report dated October 11, 2019, that the water quality test conducted in three sampling areas by BFAR’s National Fisheries Laboratory Division (NFLD) and BFAR 4A showed poor levels of dissolved oxygen, and higher levels of ammonia and phosphates than the standard level. On t he repor ted shel l f ish mortality in Bacoor and Sangley Point in Cavite, the DA-BFAR dispatched another team from its Fisheries Protection and Law Enforcement Group (FPLEG), together with the BFAR BFARNFLD and technical personnel from BFAR 4A, who found out that the level of salinity in the areas, which ranged from 19 ppt to 25 ppt, is lower than the required level for shellfish survival which is 27 ppt to 35 ppt. Also, laboratory test results showed that dissolved oxygen levels in the sampling areas are low. High concentrations of ammonia and phosphates were, likewise, detected. These chemicals, at high levels, may have detrimental effects to fish and other marine life, result showed. DENR Undersecretary for Solid Waste Management and Local Government Units (LGUs) Concern Benny D. Antiporda, sought for comment, meanwhile, dismissed claims that the water quality in Manila Bay, particularly in Las Piñas and Parañaque, as well as in Bacoor, Cavite, have worsened amid the ongoing effort to rehabilitate Manila Bay. “Right now, we are st i l l lo oking into the i n c i d e n t . A s a m at ter of fact, I am waiting for reports from our field offices,” Antiporda, the spokesman of Environme nt S e c retar y Roy A . C i m at u told the B us i n e s s Mirror. Antiporda also said the fish kill which was observed

near the Las Piñas-Parañaque Wetland Park (LPPWP), formerly known as Las Piñas-Parañaque Critical Habitat and Ecotourism Area (LPPCHEA), is not that “massive.” The DENR on Monday issued a statement assuring the public that appropriate measures will be undertaken to make sure the recent fish kill in Las Piñas and Parañaque will not affect the ongoing rehabilitation efforts in Manila Bay. The DENR was tasked by President Duterte to lead the Manila Bay Task Force tasked primarily to rehabilitate Manila Bay. “The DENR is now gathering more information on the extent and the cause of the fish kill in LPPWP,” Cimatu said. The Environmental Management Bureau-National Capital Region (EMB-NCR) had already conducted tests in LPPWP for several key water quality indicators, the result of which will enable the DENR to determine what measures are needed to mitigate adverse impacts on other marine life in the area. “We are also doing this because we want to make sure that the fish kill incident will not cause any delay to the ongoing Manila Bay rehabilitation efforts,” Cimatu added. DENR-NCR Regional Executive Director Jacqueline Caancan said the water test results will be out “in the next few days.” The results, she said, would complement studies being done by experts from the BFAR of the Department of Agriculture, and the city governments of Las Piñas and Parañaque. “While agriculturists initially assessed that the state of some of the fishes indicate dynamite fishing, our parameter tests on the water quality in the area could pinpoint other factors that may have contributed to the fish kill,” Caancan said. The DENR-EMB tested the LPPWP waters for dissolved oxygen, pH level, nitrates, phosphates, fecal coliform and cyanide. The results could show whether the fish died through toxic means, or through oxygen saturation that is determined by the level of dissolved oxygen in the water, which is essential to sustain aquatic life, Caancan said. Personnel from the DENR, the local governments of Las Piñas and Parañaque, and the so-called bakawan warriors assigned to LPPWP had already cleared the shore of dead fish, w h i c h w a s c au s i n g a he av y stench in the area. They were able to gather more than 200 sacks and over 5,000 kilograms of different marine species, such as fish, shrimps and crabs. “The cleanup was necessary to reduce hazards to both human and environmental health,” Caancan said. “We must remove the dead fish before the tide brings them back to the sea and further affect the water quality in the area.” Pending the results of the water tests, Caancan advised the public against bathing in the area to avoid ingestion through the skin or by accidental swallowing of chemicals, which may be present in the water. Cyanide, one of the test parameters could cause headaches, rapid heart rate, dizziness, and vomiting when ingested in small amounts. Exposure to larger amounts could result in loss of consciousness, lung injury, birth defects when exposed during pregnancy, and respiratory failure that could lead to death.

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PET sets sights on VP election results in Mindanao provinces

By Joel R. San Juan

@jrsanjuan1573

HE Supreme Court, sitting as Presidential Electoral Tribunal (PET), has shifted its attention on the plea of Ferdinand “Bongbong” Marcos Jr. to annul the election results for vice president in the provinces of Lanao del Sur, Basilan and Maguindanao.

This after the PET ordered the camps of Marcos and Vice President Maria Leonor “Leni” Robredo to submit their respective memoranda within 20 days on the former’s third cause of action related to his election protest. SC Spokesman Brian Keith Hosaka said the Court issued the order during its regular en banc session on Tuesday. Hosaka announced that Associate Justices Antonio Carpio and Alfredo Benjamin Caguioa both dissented from the majority decision. In his election protest, Marcos cites three causes of action—first, that the Automated Elections Sys-

tem was compromised, hence, the integrity of the AES cannot be relied upon to declare a legitimate winner; the second requires the revision, or manual recount, of the actual ballots to determine the votes cast in all the 36,465 protested clustered precincts, while the third cause of action sought the annulment of election results for the VP position in the provinces of Maguindanao, Lanao del Sur and Basilan, on the ground of terrorism, intimidation and harassment of voters, as well as pre-shading of ballots in all of the 2,756 protested clustered precincts in the areas. The PET has dismissed Marcos’s

first cause of action for being “meaningless and pointless.” On the other hand, Hosaka said the PET decided to release the committee report on the revision and recount of ballots on the three pilot provinces—Iloilo, Negros Oriental and Camarines Sur—involving 5,415 precincts. Caguioa who was assigned to handle the election protest, submitted the report to PET last September 9. The Court directed the parties to comment on the report. Hosaka admitted that the election protest of Marcos remains pending as far as the second and third cause of actions are concerned because the PET has yet to issue resolutions on the matter. “So we would just wait for the comments to be submitted by the parties, as well as the memoranda being required to be submitted on the third cause of action,” Hosaka said. Election lawyer Romulo Macalintal, who is representing Robredo on the case, admitted that they were not completely satisfied with the PET ruling as they were expecting its outright dismissal based on Caguioa’s report which showed no substantial recovery of votes for Marcos. Macalintal also said the Court’s decision to take cognizance of Marcos’s third cause of action, despite

Gatchalian presses passage of proof-of-parking measure By Butch Fernandez @butchfBM

ONCEDING that enforcing traffic rules to avert gridlocks is a tough task, Sen. Sherwin Gatchalian is pressing the passage of a proof-of-parking bill to “instill responsibility on car owners.” “The proof-of-parking bill seeks to instill a culture of responsible vehicle ownership among Filipinos once it becomes a law and not prevent them from buying their dream car,” said Gatchalian over the weekend. During a committee hearing on Senate Bill 368, Gatchalian pointed out that car owners and local government units (LGUs) both “have shared responsibility” of reclaiming public roads to ease perennial traffic woes in Metro Manila. The senator suggested that while LGUs are responsible for clearing the roads, “motor vehicle owners should be made responsible to provide permanent parking space for their private vehicles, whether this is made an integral part of their house or building structure or a leased facility.” Gatchalian, after conducting a series of public hearings on the proposed proof-of-parking bill, is expected to move for early plenary consideration of the remedial legislation to address choking traffic gridlocks in public roadways when Congress reconvenes on November 4. “This bill is quite basic,” the sena-

tor said, adding that if the car owner has no parking space, “you will not be allowed to register your car.” Gatchalian clarified that this simply means “we are now giving emphasis on the responsibility of the car owner to make sure he has his own garage before he purchases a car, so this bill is aimed to help in the alleviation of our traffic situation.” He added: “Again, the focus of the bill is not to prevent car owners to buy cars—you can buy as many cars as you want as long as you have your own parking space and do not park on the road.” The senator recalled that during his stint as top local official in Valenzuela before his election to the Senate, “implementing traffic rules and regulations was the most difficult task” that he had undertaken as mayor, recalling launching operations against illegally parked cars during his time as Valenzuela City mayor that he “likened the undertaking into a cat and mouse game.” In a news statement, Gatchalian also noted that many local government units are now thinking out of the box and implementing ways in order to take back the roads that had been transformed into parking spaces. In Valenzuela, the senator said that the city enacted an ordinance wherein the owners of unutilized land are given tax reprieve when they convert the idle property into parking lots. “These are just one of the few negotiations that local governments

are doing. But again, the most important part here is, hindi lang ito responsibility ng local government, responsibility din ito ng car owners. This bill aims to put that responsibility to the car owners,” he added. “As a former mayor, implementing traffic rules and regulations is the most difficult task a mayor can ever undertake because parang cat and mouse ho ’yan eh, manghuhuli ka ngayon, bukas babalik, manghuhuli ka ngayon, bukas babalik na ho yan.” Citing records from the Land Transportation Office (LTO), the senator noted that there were 11.6 million motor vehicles in 2018, which is an increase of almost 1.2 million, or 11.4 percent from the 2017 figure of 10.5 million. Under the proposed Proof-ofParking Space Act, individuals and businesses based within Metro Manila would only be allowed to purchase vehicles after the execution of an affidavit confirming that they have acquired, either through purchase or lease, a parking space for the vehicle sought to be purchased. At the same time, the Gatchalian bill also mandates the LTO, the Metropolitan Manila Development Authority, and local government units to conduct frequent ocular inspections of major and minor thoroughfares across the National Capital Region to remove illegally parked vehicles and to punish vehicle owners who refuse to comply with the law.

his failure to prove election fraud in three pilot provinces, would only pave the way for parties to resort to fishing expedition for evidence. “So, in our comment, the moment we get a copy of the report, we will insist on the petition of Marcos be dismissed on the basis of Caguioa report,” he said. However, Macalintal said they welcome the PET”s order to provide the parties copies of the Caguioa report which would disprove Marcos’s claim that the result of last VP election was rigged to favor Robredo. During the PET’s deliberation on the report submitted by Caguioa, supporters of Robredo and Marcos gathered outside the SC compound along Padre Faura Street in Manila in anticipation of a ruling that would favor either camp. They peacefully left the place after the PET came out with the orders. Marcos filed an election protest on June 29, 2016, claiming that the camp of Robredo cheated in the automated polls in May also the same year. The Commission on Elections declared Robredo as the winner in the vice presidential race in the 2016 election after she got 14,418,817 votes, which is 263,473 votes more than the 14,155,344 votes received by Marcos.

Philippines, US, Japan kick off MTA Sama Sama

HE Philippine Navy, US Navy and Japan Maritime SelfDefense Force have launched Maritime Training Activity (MTA) Sama Sama with an opening ceremony in Puerto Princesa on Monday, October 14. This is the third iteration of MTA Sama Sama, a maritime exercise designed to promote regional security cooperation, maintain and strengthen maritime partnerships, and enhance interoperability. This is the first year the Japan Maritime Self-Defense Force will be a participant. US Navy Rear Adm. Joey Tynch, commander, Logistics Group Western Pacific, who oversees security cooperation for the US Navy in Southeast Asia, said that MTA Sama Sama showed the evolution toward multilateral training and networked security. “We are strongest when we sail together,” said Tynch. “MTA Sama Sama gives us a great chance to work shoulder to shoulder with our friends, partners and allies, the Philippine Navy and the Japanese Maritime Self-Defense Force. We train together, so that together we can face threats to maritime security.” For more than 70 years, US and Philippine forces have renewed friendship, partnership and alliance through bilateral military exchanges and exercises.

Villanueva bewails Cebu traffic mess costing P1.1-B daily loss, bats for telecommute option

EN. Joel Villanueva bewailed Tuesday the crippling daily traffic gridlocks in Cebu, which, the Japan International Cooperation Agency (Jica) estimated is costing about P1.1-billion in lost economic opportunities. “The declaration of a traffic crisis in Cebu by the Sangguniang Panlalawigan should allow the provincial government to take drastic steps to mitigate its impact in the short term, while authorities seek to formulate and implement sustainable solutions to the problem,” Villanueva said.

In a news statement, the senator prodded provincial officials concerned to consider allowing other options, including “telecommuting” arrangements between employers and their workers. “We urge provincial authorities, especially the Department of Labor and Employment [DOLE]-Regional Office-7, to ramp up the awareness on the Telecommuting Law or Republic Act 11165, which encourages the private sector to develop and implement telecommuting work arrangements with their employees,” said Villanueva.

He added that while it “may not be the magic pill that will resolve the traffic situation, we believe that the impact of the law will help reduce the need of workers to travel to their places of work, thereby easing the demand in public transport in the short term.” The senator pointed out that the Telecommuting Law allows workers to maintain their productivity with the lesser time they allot to travel from one place to another. Villanueva recalled that the law’s implementing rules and regulations

mandate that the DOLE undertake a study to identify jobs which can be fulfilled under a telecommuting work arrangement. “The study will help guide employers as they consider implementing their own telecommuting policies in their office,” he said. At the same time, Villanueva advised companies that already adopted existing telecommuting policies to notify the DOLE Regional Office which has jurisdiction in order to “ensure that these are compliant with existing labor laws and regulations.” Butch Fernandez

Agriculture/Commodities BusinessMirror

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LandBank, DAR to launch lending program for ARBs By Jasper Emmanuel Y. Arcalas @jearcalas

HE Land Bank of the Philippines (LandBank) said it forged an agreement with the Department of Agrarian Reform (DAR) for a P5-billion lending program which seeks to facilitate agrarian reform beneficiaries’ (ARBs) access to credit. LandBank it signed the memorandum of agreement to formally implement the Accessible Funds for Delivery to Agrarian Reform Beneficiaries (AFFORD-ARBs) lending program with DAR on October 9. Under the program, LandBank allocated P5 billion that could be tapped by ARBs to “finance the production of rice, corn and high-value crops, as well as acquisition of small farm implements.” “The farmers, whom the President Duterte and most Filipino people regard as one of the heroes of our society, must be given the special treatment that they deserve,” said Agrarian Reform Secretary John R. Castriciones in a statement. “This would empower them to

DILG. . .

support their families, and at the same time, to be competent in their respective [agriculture] fields,” Castriciones added. LandBank said the AFFORDARBs program would be focused on individual ARBs under the list that would be provided by DAR and the bank’s agrarian service sgroup. The bank added that it would also provide technical assistance to the ARB-borrowers through loan orientation and financial literacy seminars. “We are grateful to have a solid partnership with DAR, which allows us to pursue a more focused and direct approach in lending to individual small farmers. By being able to identify the ARBs that we need to target, we are able to focus our efforts and provide the appropriate financing and technical support,” said LandBank President Cecilia C. Borromeo. The rollout of the AFFORDARBs is part of the LandBank’s efforts to ensure that its services are more accessible to farmers and fishermen, it said.

Editor: Jennifer A. Ng • Wednesday, October 16, 2019 A5

PHL urges Asean+3 nations to develop new rice varieties M

ANILA said it is supporting the proposal of the International Rice Research Institute (Irri) to involve Southeast Asian nations and their trade partners in the development of new rice varieties that are resilient to multiple environment stresses. The Department of Agriculture (DA) said the new varieties will help increase rice production amid the challenges presented by climate change and the expansion in the population of members of the Association of Southeast Asian Nations (Asean). “The Philippines, being the host country of Irri, will reiterate its strong support to the institute’s proposal to the 41st Asean Ministers on Agriculture and Forestry (Amaf)

Meeting, hoping that Korea, Japan and China can really come forward, and significantly push this initiative,” Agriculture Secretary William D. Dar said in a statement. Dar went to Brunei Darussalam to represent the Philippines in the 41st Amaf. Irri’s proposal hopes to bring the Asean+3 (South Korea, Japan and China) to be involved in the selection and the development of new rice varieties that are resilient to multiple environmental stresses, pest and diseases, thereby elevating the production capacity in the region. “We need to combine these strengths and to have the right rice varieties that can adapt to all potential scenarios and also meet the market readiness and expectation

acknowledging that in Southeast Asia consumers have particular preferences,” Irri Director General Matthew Morell said in a statement. Morell added that the Irri’s proposal is set to build a comprehensive testing and selection that is also backed up by training capacity for its national partners. “We are not just transferring these new varieties but we are doing it with the national partners for them to conduct it themselves,” he added. The Philippines is endorsing Irri’s proposal during the Amaf meeting and it hopes to secure the strong support of Japan, South Korea and China. El Niño episodes in the Philippines usually wreak havoc on rice production. The destruction rice

crops in 1998 and 2010 forced the country to import some 2 million metric tons (MMT) of rice. Output fell during those years as El Niño dried up farms and destroyed standing rice crops. The rice sector also bore the brunt of the El Niño episode this year. The dry spell destroyed billions of worth of unhusked rice and caused farmers to incur losses. The Philippine Statistics Authority (PSA) said inadequate water supply/ rainfall, and the dry spell caused the harvest of rice to decline in Mimaropa, Bicol region and Western Visayas. Palay production in January to June fell by 5.1 percent to 8.269 MMT, from 8.713 MMT in the same period last year, according to data from the PSA.

Report: Firms in food industry among worst employers in PHL By Samuel P. Medenilla @sam_medenilla

continued from a1

“In previous meetings, when asked by DTI Secretary Ramon Lopez if Pampi will be accountable for any of their products that will be found to be contaminated with ASF, the response was they cannot be accountable for the actions of any of their members,” he said. In his letter, So cited previous instances wherein the canned goods seized and intercepted by government authorities were proven to be contaminated with the ASF virus.

Raisers’ losses

SO said even the local hog industry, which incurred the most losses due to ASF outbreaks, have not complained of the bans imposed by various LGUs to prevent the entry and spread of the fatal hog disease. So explained that farm-gate prices of backyard hog raisers have gone down to P70 per kilogram to P80 per kg from a pre-ASF level of P110 per kg to P115 per kg. Worse, So noted, pork demand has declined by 20 percent to 30 percent since the confirmation of ASF in the country. “P30 per kilo drop in live weight prices would mean a loss of P2,250 per head. Per sow level, this would mean a loss of P3,825. Actual losses for a month is about P48.57 billion,” he said. “There is no other sector that [has] incurred more losses because of the ASF outbreak than the hog industry. The hemorrhage to the industry of the ASF is real, catastrophic and in billions of pesos,” he added. Last Monday, the Department of the Interior and Local Government (DILG) chief had issued an order excluding processed meat products from the bans imposed by LGUs as preventive measures

Ecozone. . . This is totally different from the sunset period in the Citira bill version passed by the House of Representatives last September. The House version—House Bill 4135—requires locators to give up their incentives in two years, for those operating in Peza zones for more than 10 years; three years, for those between five years and 10 years; and five years, for those below five years. Lopez has been pushing for the extension of the sunset period to 10 years. On the other hand, Peza Director General Charito B. Plaza is asking lawmakers to give economic zone firms up to 15 years to cushion the impact of the lifting of tax perks. “Senators want to remove that discrimination between newly registered companies and those in Peza zones for

against ASF. Año said he has issued an order directing all the LGUs to exempt Food and Drug Administration (FDA)-certified processed meat products from their import bans. Año’s statement came amid pronouncements of the Philippine Association of Meat Processors Inc. (Pampi) that their group may incur P50 billion to P60 billion in losses due to import bans imposed by provincial and local governments. “Nagpalabas na ako ng kautusan sa mga LGUs ngayon na hindi kasama ’yung processed meat, lalo na kapag may ano ’yan, may mga FDA certifications [at] approval [I’ve issued an order telling LGUs that processed meat, especially those with FDA certifications and approval, are excluded from any ban],” Año said in a radio interview on Monday. “Canned goods, hindi kasama ’yan, safe ’yan. Ang raw meat ang ating pinapa-quarantine [Canned goods are excluded from bans, they’re safe. We impose quarantine on raw meat],” he added. Año explained that the exemption on processed meat product is meant to ensure that the country would not run out of supply in the run-up to the holiday season. “May pinalabas na tayo diyan na order in coordination with DTI [Department of Trade and Industry] and DA [Department of Agriculture]. Basta processed meat, canned goods hindi kasama iyan. Otherwise, mahirapan tayo diyan, mauubusan tayo ng supply [We have issued an order in coordination with DTI and DA that processed meat [products] and canned goods are not included in the ban. Otherwise, we would suffer and we may run out of supply],” he said. Jasper Emmanuel Y. Arcalas

ILIPINOS in the food industry are still subjected to poor working conditions, according to a report on the labor practices of farms, restaurants, factories and supermarkets conducted by an international confederation of nongovernment organizations. Oxfam International said the survey covered 530 respondents in the food industry worldwide. “The aim of the survey was to provide a global snapshot of workers views on the pay and conditions they experience on farms, plantations and factories involved in the production of food and drink.” The results of the survey were far from ideal with three quarters of the workers saying they were not paid enough to cover basic needs, such as food and housing. “Over a third said they were not protected from injury or harm at work, and were not able to take a toilet break or have a drink of water when they needed it,” Oxfam said. The respondents include 112 Filipino workers in factories that make various food products. The rest of the

A STORE employee arranges stocks at the beverage station at a supermarket in Makati City, in this file photo.

survey participants worked in farms and plantations in Costa Rica, Ecuador, Occupied Palestinian Territory, the United States and Peru.

Supermarkets’ role

IN three separate studies, Oxfam said supermarkets are playing a role in maintaining this poor working condition for food sector workers. “Supermarkets are snapping up the lion’s share of the price we pay at the till but the workers who

Remittance. . .

expected tick-up of remittances during the “ber” months as the holiday season nears. The September inflow of remittances pushed the total cash sent by OFWs back home to $19.81 billion in the first eight months of the year. This is 3.9 percent higher than the same January-to-August period which was at $19.06 billion. According to the BSP, the steady growth in remittances during the first eight months of 2019 drew support from the remittance inflows from

activities. Most of these firms are operating factories in other countries, and they can just transfer [their production] volume there,” the trade chief argued. “As such, we are working on a number that would not be too short and not too long, and right now seven years might be that magic number,” he added. Government economists and senators are working on the adjustments to be introduced to the Citira bill. These changes are part of the compromise reached by the Departments of Finance (DOF) and of Trade and Industry (DTI) with the Peza, resulting in Plaza—the Citira bill’s strongest critic from within government ranks—supporting the measure. Last week saw Lopez—sitting as chairman—convening the Peza

price of the 12 everyday food items. “Supermarkets have increased the share of the price they take from a basket of 12 everyday items from 43.5 percent in 1996-1998 to 48.3 percent in 2015. The share going to workers fell from 8.8 percent to 6.5 percent over the same period,” said Byanyima. Oxfam is now conducting its “Behind the Price” campaign in an effort to raise awareness on the poor working condition of workers in food production among supermarket chains.

remittances from these countries accounted for 78.4 percent of total cash remittances from January to August this year. Just last week, Finance Secretary Carlos G. Dominguez III cited remittances as one of the key factors keeping the Philippines among the “world’s fastest-growing economies.”

Dominguez said strong remittance inflows from Filipino migrant workers, coupled with the additional spending generated by hefty income tax cuts under the Tax Reform for Acceleration and Inclusion Act (TRAIN), is expected to keep consumer spending strong and contribute to the country’s gross domestic product.

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land-based OFWs with work contracts of one year or more. Cash remittances from land-based and sea-based workers increased by 2.8 percent to $15.5 billion and 8.2 percent to $4.3 billion, respectively, for the January-to-August period this year. By country source, the US registered the highest share of overall remittances for January to August at 37 percent. It was followed by Saudi Arabia, Singapore, the United Arab Emirates, the UK, Japan, Canada, Hong Kong, Germany and Kuwait. The combined

continued from a1 so long. They want it [sunset period] standardized at seven years. They said it might be complicated to manage different transitions,” Lopez said. “I think even at the Senate, it won’t fly if the sunset period is too quick, as shown during the first hearing there on the Citira bill. Everybody’s just concerned about adjusting the sunset period to minimize job losses, especially in footloose industries,” he added. Estimates by the Joint Foreign Chambers of the Philippines put job losses at above 700,000 if the Citira bill is passed into law, as a consequence of locators exiting the country en masse on removal of their incentives. “That’s the concern, that five years could be too short of a transition for some firms, particularly for those involved in labor-intensive

toil for hours to grow and harvest tea, fruit and vegetables are paid so little they can’t even feed their own families. This is not work—it is exploitation,” Oxfam International Executive Director Winnie Byanyima said in a statement. The three studies covered workers in farms, which supply large supermarket chain in the US, East Brazil and India. Oxfam said supermarkets are now raking in almost half of the

Board in a special meeting to stress the importance of getting the Citira bill passed in Congress. With no more opposition from within official ranks, the trade chief is expecting smooth sailing in enacting the Citira bill, removing also in the process the uncertainties spooking the country’s investment climate. These uncertainties led to a 12.71-percent decline in investments approved by the Peza last year, to P68.32 billion from P78.27 billion, according to Philippine Statistics Authority data. The Citira bill, which hurdled the House in September, will reduce corporate income tax rate to 20 percent by 2029, from 30 percent at present—the highest among Southeast Asian countries—and will rationalize tax perks granted to economic zone firms.

A6 Wednesday, October 16, 2019 • Editor: Angel R. Calso

Opinion BusinessMirror

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editorial

Giving Pinoys access to cheap, healthy food

he administration of former President Benigno Aquino III aggressively promoted the consumption of brown rice and camote, which are good sources of carbohydrates, as part of government’s efforts to achieve rice self-sufficiency and reduce imports. The campaign highlighted the health benefits of consuming brown rice and camote. Despite this, the government could not wean Filipinos away from white rice. Proof? There was no significant reduction in consumption, based on government data. Eating white rice is deeply ingrained in the culture of Filipinos. Discouraging them to eat white rice is akin to asking them to forget their identities. Ask any overseas Filipino worker, particularly those who have been deployed in Western countries, and they will tell you that they long for a plate of hot rice and popular viands, such as adobo or sinigang na baboy. The Food and Agriculture Organization of the United Nations warned against this seeming fixation with a single crop given its impact on the environment. Rice, for one, is a water-loving crop and it takes 3,000 to 5,000 liters of water to produce 1 kilogram of the staple, according to data from FAO. Imagine the water that rice-consuming countries could save if they will cut consumption by a fifth or improve postharvest facilities to reduce waste (See, “Food waste, postharvest losses where millions remain hungry,” in the BusinessMirror, October 18, 2018). What’s compounding the problem for the government is that the change in the lifestyle of Pinoy workers, particularly those working in call centers, pushed them to rely on fast-food outlets and street food vendors and instant food items. According to FAO, a combination of unhealthy diets and sedentary lifestyles has sent obesity rates soaring, not only in developed countries, but also in low-income countries, where hunger and obesity often coexist. Currently, FAO said over 670 million adults and 120 million girls and boys (five-19 years) are obese, and over 40 million children under five are overweight, while over 820 million people suffer from hunger. Apart from information campaigns and contests marking occasions, such as World Food Day or Nutrition Month in the Philippines, government needs to be more creative in coaxing Pinoys to include other healthy items in their diet. More leafy vegetables, more fruits and less processed food products will help reduce their rice consumption. Also, eating more fruits and vegetables would mean a bigger market for farmers. While government cannot force adults to wolf down vegetables and fruits, it can do something about the children, particularly those studying in public schools. The Duterte administration should consider expanding feeding programs for schoolchildren so more kids would develop a taste for vegetables and local fruits. Local government units that are planning to complement the feeding program of the Department of Education should think beyond Nutribun and offer other nutritious snacks. This year’s celebration of World Food Day trains the spotlight on the need to address hunger and nourish people while nurturing the planet. FAO is calling on countries to make healthy and sustainable diets affordable and accessible to everyone. Enabling people to have access to affordable healthy food will be cheaper for the government in the long run compared to the billions of pesos it will have to shell out to subsidize Pinoys suffering from noncommunicable diseases, such as cancer and cardiovascular diseases that are caused by unhealthy diets. Since 2005

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‘Friend to friends, enemy to enemies, worse enemy to false friends’ Teddy Locsin Jr.

Free fire Continued from A1

here is Brexit, the Korean peninsula and the promise and threat of its Bismarck Moment of unification and power…or not; and regional war which I think far fetched.

There is the tragedy of potentially the richest but in actuality the most tragic and wasted continent: Africa. There is the lighted fuse of the Middle East that keeps flaring up after being repeatedly stamped out. There is the South China Sea. And the US-China trade war that is too important to leave just to the economists and trade experts. And there is Hong Kong; and my warning to the Cabinet that everytime the last rites are performed over Hong Kong, that city tends to bounce back and bite its detractors. The “butterfly effect” is clearly in full swing; what’s been happening in one place will generate ripples around the world, however small, but which in turn…you know the drill. We ourselves are in a cyclone that started from the faint beating of small wings as a new China broke out of its bamboo shell less than three decades ago. The Dragon’s wing span increases every year. And it’s getting fatter. It raised 800 million out of destitution—I saw for myself. Meanwhile, it feels at times that the Eagle’s talons are retracting into its wrinkled claws despite the fact no one comes anywhere close to challenging its global hegemony. And I mean no one and even if the rest of the world combined against it. Philippine foreign policy is all spelled out in the Constitution, you cannot add or subtract to it. So we are not here to chart the Republic’s foreign policy. It has to do with being independent in making our foreign policy choices, but always in favor of our national interest first and foremost; our international commitments in universal and bilateral agreements next because those are part of the law of our land; and finally all of that taken in the context of current and most likely future circumstances. Every elected administration interprets independence or doesn’t because it hasn’t the time or the space to give a new spin to the old turn. Or it cannot improve on the continuation of the past. All our presidents have wanted an independent foreign policy; some waited for what could not happen given the representative democracy we adopted at our birth and in successive rebirths. In the teeth of historical disappointments, it remains a constant of Philippine politics that the vast majority of its people across all generations are intensely pro-American.

Being a logical people we’ve never adopted the self-contradictory constitution of a dictatorship despite the inspiration of Constitutional Dictatorship. The time of autocracy is well over; all states have to be democratic even if the democratic choices are not always too liberal liking and thank God for that. The world needs a respite from weaklings. The greater safety for populations lies in strong government and not in weak ones that invite multilateral intervention. What autocracies big and small still exist have an approaching expiry date. Fukuyama was right: this is the age of democracy even if not always a liberal one and the end of history is not anywhere in sight. Democracies have fought each other in the past. I just can’t think of one example. Words matter, preeminently the words of our Constitution; and create binding ties, foremost as the basis of intelligible discourse not least between government and those who accept to be governed; and among states. Words count. Marcos made the first concrete turn to an independent foreign policy when he faced the country toward the Soviet Union and Red China. Those were bold moves but they came to nothing because it was too soon. Still, he gets A for effort. The country wouldn’t turn its face away from the West and still won’t. Even if the West is increasingly not there. The rest of our presidents before and after him quietly strived for the same independence but gave up for the same reason of prematurity; they stuck to continuity for stability. That was not a cop out. The opposite of continuity is whimsicality, and that weakens the international impression a state must make that it is not a hodgepodge of extemporaneity. This administration has been remarkably consistent and vociferously insistent on its own take of an independent foreign policy but always conceding that it will not go farther in that direction than the people are inclined to follow. And clearly our oldest military ally enjoys the widest popular edge. Of course, no administration can have its own take on what constitutes our national interest: that is obvious and is gleaned from our history. Getting elected gives you a mandate but it does not confer a supernatural insight into what is good for our country. Only we, the people, decide that and we are famously whimsical as well.

We are a friendly, warm and welcoming people; exceptional for our hospitality; outstanding in our humanity: we took in all the rejects of the world without conditions: White Russians fleeing the Red holocaust in Russia and Jews fleeing European holocausts; Nationalist Chinese when they fled the Red holocaust in China with whom, despite the nonsense, we never had historical ties that bind except for recent mythologies. The passing Chinese pirate on a sailing junk is not a diplomatic exchange. At best it was an exchange of musket fire. True we inspired the Nationalist revolution in China and gave refuge to its heroes. But we never joined the frenzy of the Cold War hatred of Red China. Our journalists, I among them, were the first to break through the Bamboo Curtain to see the reality behind it at the prompting of Felix Greene’s groundbreaking book. We took in Indians, Vietnamese and Iranians following in the wake of political upheavals in their countries; and lately persecuted Rohingya with regard to whom we made a very public commitment to take them in—to the shame of their coreligionists throughout the region and the rest of the world. And above all and ubiquitously today: the ugly appearance of forces out to rob states of their legitimacy by denying their ability to protect their populations against religious fanaticism and organized crime: violent non-state actors. And the deceptively attractive appearance of nonviolent but equally subversive non-state actors of civil societies with uncivil purposes. But that is as far as it goes. We don’t offer the marital bed as part of our hospitality and we tend to get very ornery when someone makes himself too much at home in our house. We are always polite but the guest cannot fail to see, behind our forced smiles, the air of impatience for his departure. Our national interest can never be the same interest as that of a foreign power. And I’ve always been wary of pursuing projects for mutual benefit between weak countries and big powers. The terms of endearment may seen fair but the nature of the relationship is ultimately onesided and detrimental to the weaker party. Let them get close enough to caress you and they’re too close for comfort because they can as easily strangle you. Mutually beneficial relationships, especially in defense, can be safely pursued only between equals or between unequals separated by great distances. Why we went to Russia to even things up over here. Of course our national interest can in some aspects have much in common with another nation’s interest. That’s okay. We are part of the community of nations, civilized or not. But our national interest cannot be sold or compromised either by surrender or by the foolhardiness of jumping into a conflict we are sure to

lose; and in losing thereby, lose our national interest. One way to lose a sovereign aspect is to lose a foolhardy war in its affirmation. So we bide our time for the time of assertion… or not; if, on second thought, it still seems hopeless. But when our vital interests are attacked we must set aside our constitutional repugnance to war as an instrument of foreign policy and take ultima ratio regis tightly to heart. But the genius of our Constitution is that it provides for a single term administration. A single sixyear term may not be able to do all the good it wants to; but it limits all the bad that government is capable of given more time. Power enables but with too much time degenerates into absolutism and bottomless corruption. Even in the short tenure of his adminisration, this President has conducted purges of his officialdom. In Cabinet meetings the President never stops stressing that time is running out to get the good parts of governance done. So let’s forget the mischief. The next administration will have its own take on what constitutes an independent foreign policy based on—and I don’t think it can be improved: “Friend to friends, enemy to enemies, worse enemy to false friends.” This is a significant improvement in the direction of realism on the earlier “Friends to all, enemies to none.” That is like a comely woman or a handsome young man walking into a dark alley with a big man, perhaps a biker in the latter case, that they took a fancy to in a bar; and expecting to step out into the light at the other end with their clothes still on…if they get out at all. If he or she is exceptionally naive, perhaps wondering in the words of our President: “Is that what friends do?” Some of our so-called friends might think so; so be careful, boys and girls, who you walk out of a bar with. Truth is the daughter of time; let’s take our time knowing our true friends. What we are here in G-Chop for is not to chart foreign policy but to draw out the implications of the absolute one in the Constitution and the current administration’s take on it; a take that continues to evolve and may, therefore be, kindly called a work in progress. And that is why I rejected out of hand the proposal to draft a manual of Philippine foreign policy; not least because I was not sure it would be in English. We can accept a manual of Philippine foreign policy that will be written only in retrospect from the distant future—if anyone cares to write a quaint history of the foreign policy of a small republic as fleeting as that of the princely states of 15th century Italy but without the brand names today. So we are here not just to listen to our distinguished experts from abroad but from each foreign post. No one back here in our crumbling ADB buildin—we’re getting out in January next year—can safely See “Locsin,” A7

Opinion BusinessMirror

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Beware of fixers and online scammers

Praying for ‘Sunshine Nene’ Susan V. Ople

Scribbles

Aurora C. Ignacio

All About Social Security

he advent of technology has changed the way people use the Internet—from being a source of information to providing services at a person’s fingertips. Who would have thought that food, taxi, medicines, among other services, could be availed of anytime, anywhere just by using online facilities?

Wednesday, October 16, 2019 A7

y father, the late Sen. Blas F. Ople, and former Sen. Aquilino “Nene” Pimentel Jr. came from opposite sides of the political fence. My dad served in the Marcos Cabinet, while Pimentel was a staunch oppositionist. Yet, such differences never stood in the way of their friendship when they became colleagues in the Senate. There was mutual respect there, and yes, a fondness that ripened with time. Last Monday, the PDP-Laban, through Spokesman Ron Munsayac, tweeted a call for prayers on behalf of the former Senate president who “is very ill and currently under treatment.” Based on news reports, the acknowledged “Father of the Local Government Code” has been suffering from an advanced stage of lymphoma, a cancer of the lympathic system. If there is one political leader entitled to our most fervent prayers, it would be this humble giant of a man that everyone calls “Nene.” Even when his hair is at its handsome whitest, perpetual youth springs from the mere mention of his name. I have

seen Tatay Nene in action, from his Senate days to recent lectures on federalism, and I can’t help but admire the strength and clarity of his convictions, and his endurance as a statesman. How does a man grow such wings of conviction? How does one start life as just any other boy, only to end up as a man of gravitas? We note that in the case of Pimentel, he fought against Marcos as a young lawyer and was elected delegate to the Constitutional Convention of 1971. He was arrested in 1973 and detained for three months at Camp Crame. He was released from prison in time for the signing of

the Constitution, which he, as a delegate, refused to sign. In 1978, Pimentel ran for a post in the Interim Batasan elections with Ninoy Aquino and other opposition leaders, like Sen. Lorenzo Tañada, Soc Rodrigo and Teofisto Guingona. They lost as the Kilusang Bagong Lipunan of the Marcos administration swept the polls. Claiming massive electoral cheating, Pimentel joined demonstrations, which led to his second jail term. Being detained for two months in Camp Bicutan strengthened his resolve to continue fighting against electoral fraud and for human rights. He won in his first mayoralty bid in Cagayan de Oro despite having only P2,000 in his pocket. From mayoralty to the Senate presidency, never had his name been tainted with corruption. His talented spouse, Bing, and children, including Human Rights Commissioner Gwen Pimentel-Gana and Sen. Koko Pimentel, can never be accused of highhandedness or abuse of power. I have yet to see anyone of them walk around with a team of bodyguards, in luxury vehicles paid out of public funds. During the recent wedding of his granddaughter, Doms Gana (daughter of Gwen and Luigi Gana) to Jon Pabillore, Tatay Nene was called to

Today, with an easier access to the Internet, more people go online to avail themselves of information and services without having to leave the comforts of their homes or offices. Unfortunately, some people abuse the Internet by committing fraud, stealing information, or spreading false or fake news. The proliferation of fake news and online scams are no longer new to us, yet, many people still fall victims to these scammers. The Social Security System is a natural target for scammers. As an established brand, the use of its name would easily engage people, direct followers to an online site, or worse, exchange money for services. With 38 million covered members, SSS is hounded by online predators. Last month, a post circulated on Facebook that President Duterte signed a law giving P50,000 bonus to all SSS members. This is absolutely a hoax. Three hours from the time the post reached us, an online advisory was immediately released via SSSph, the official Facebook site of SSS, that this is fake news. This is a kind of phishing where online scammers use SSS to increase their following and engagement in social media. This is a reminder to our members to be cautious and discerning of the information they read and share on social media. The SSS is already working with the Philippine National Police to investigate and take legal action against the culprits behind the fake posts. This is a strong warning to online scammers that they will be legally liable if they use the SSS to deceive its members and pensioners. Aside from being victims to online scammers and fake news, SSS pensioners also fall prey to fixers. A few months ago, we received a report from our Bacolod branch that 15 pensioners transacted with a fixer, who took their cash cards after availing themselves of the SSS’s Pension Loan Program (PLP). Instead of getting the full credited amount from SSS, the poor pensioners only received a fraction from the

fixer. The case is still under investigation by the National Bureau of Investigation. We launched PLP to help pensioners from borrowing money from loan sharks during financial contingencies. Sadly, though, some people still use this program to take advantage and get money from the poor pensioners. There was also a recent incident in Bacolor, wherein a certain individual introduced himself as an employee of SSS, and solicited data and an authorization letter from a woman in the guise of retrieving her SSS check. The concerned senior citizen reported this incident to their barangay official, who, in turn, reported it to SSS. We strongly advise our members and pensioners to avoid online scammers, fixers and not believing in fake news. If they have questions, they can consult with SSS employees stationed at SSS branches nationwide. Likewise, never give your personal data to people who are not employees of SSS, or to those who claim they can help you with your SSS transactions for a fee. Again, SSS does not charge any fee for its services, such as processing of benefit claims and loan applications. Follow only the official communication channels of SSS—its Philippine Social Security System (SSSph) facebook site; the SSS web site—www. sss.gov.ph—and its official twitter account—@phlSSS. For more information and queries on your SSS accounts, contact SSS Call Center at 1455 or e-mail us at member_ relations@sss.gov.ph. Members may also access our electronic facilities, such as the My.SSS portal in the web site, SSS Mobile App and Text SSS. In a world driven by technology, SSS services is also at your fingertips. Just make sure that the online sites that you visit for SSS information are the official sites of the agency.

Locsin. . .

Mathematics: Gateway for national progress

substitute his guesses for the personal experiences of their colleagues and the latter’s professional take on those experiences as members of our foreign service abroad. Thank you so much for the long trip here. It won’t be all work; we have time left for recreation and reunion. Let me end with words from Freddie Mercury: “I thank you all”—for the honor and privilege of working with you. And to borrow more from Freddie Mercury, “We here in Manila love you all out there.” If it doesn’t seem like that at times; blame the rules of a prudently hidebound foreign service. Allowances can be made on a case-tocase basis. But allowances couldn’t be made if they were the rule; they are possible only with hard rules in the place. To quote again the epigraph to The Mouse Trap with Nathan Hale, “A world without string is chaos.” Without rules, government service would be self-service. To our distinguished foreign guests, may I present you to, in words from the Bohemian Rhapsody: “Their Majesty, the Department of Foreign Affairs.” Let’s give each other a round of applause. Thank you.

athematics is a subject that requires logical thought, and trains students to think critically and creatively. It provides students with the essential skills in reasoning, decision-making and problem solving to help them make sense of many aspects of our rapidly changing world. Mathematics can be our gateway for national progress. That’s because Filipino students with strong mathematical knowledge will help ensure the country’s economic survival. Mathematics can provide a strong foundation that prepares our youth to pursue higher education and be part of the country’s technologically-oriented work force in the future. Therefore, it’s necessary to teach children the fundamental ideas of numbers and number concepts. This will help them become more proficient in computing and problem solving. A document prepared by the Philippine Council of Mathematics Teacher Educators Inc. and the Science Education Institute of the Department of Science and Technology, dubbed Mathematics Framework for Philippine Basic Education, enumerates seven principles that explain why mathematics is crucial to our economic survival. Principle 1: Being mathematically competent means more than having

continued from A6

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 Maryjane C. Tablit

Could I ever be happier than now? Liling Magtolis Briones

Boiled Green Bananas (Again!)

‘W

rite something else,” said her friend. “Everyone knows your field is public governance. Must you continually write about it? Write about something else!”

“All right,” she answered. “I will write about happiness.” And so, while on the plane from Nagoya to Toronto, she wrote by hand on the back of the airline menu. Happiness. What age is the happiest in one’s life? When she was 17, she was graduating magna cum laude from the university. She was the bunso of her indulgent barkada. She sang in the choir, led the College Quiz Bowl Team and nonchalantly collected straight “A’s.” As a church youth leader, she visited prisons, called on the sick and spoke in youth conferences. She was bursting with life and promise. Old age was a far-away country. Oh, how distant and how old 20 years seemed to be! Standing

the ability to compute and perform algorithms, and mathematical procedures. A mathematically competent student does not only know how to compute and perform algorithms, but is also able to pose and solve mathematical problems, and apply mathematical skills and reasoning in other subjects and everyday experiences. Principle 2: The physical and social dimensions of a mathematical environment contribute to one’s success in learning mathematics. Students need a learning environment that is safe, clean and allows plenty of movement and exploration. An ideal mathematical environment is one that is well equipped with tools for learning mathematics. Principle 3: Mathematics is best learned when students are actively engaged. Mathematics is not a spectator sport. Students must be engaged in the learning activities planned by the teacher for them to learn faster. Therefore, students cannot expect to learn by simply watching their teacher solve problems on the board. Students must bear the responsibility of being actively engaged in order to maximize their learning potential. They ought to join in class discussions, ask questions, argue and reason out so that they see the many different aspects of mathematics that they are studying. Principle 4: A deep understanding of

on the edge of a glorious tomorrow, she asked herself, “Could I ever be happier than now?” Then she discovered UP, nationalism and England. What freedom! Demonstrations. All-night discussion groups. And music, always music. This time she sang political songs in lieu of church anthems. Joan Baez, Simon and Garfunkel. “Bayan Ko.” “Bandilang Pula.” The transition to activism was effortless. When she was 29, she fell rapturously in love. He had seen her pictures in newspapers when he was abroad. She was on top of a jeep, streaming hair longer than her micro miniskirt, waving a red flag while her companions rammed it against the gates of Malacañang. He looked for

mathematics requires a variety of tools for learning. Following from Principle 3, mathematical tools allow students to be actively engaged in learning mathematics and deepen their understanding. These tools include manipulative and hands-on materials that can be effective for developing, clarifying and applying mathematical concepts. These materials should be carefully integrated into the instructional process. Technology offers a variety of tools that must be used judiciously. The use of technology should be driven by the needs of the students as learners of mathematics and should be used when it aids the learning process. It should not be regarded as a substitute for students’ understanding of quantitative concepts and relationships. When properly used, tools, such as measuring instruments, scientific and graphing calculators, and computers with appropriate software, can contribute to a rich learning environment. For example, calculators should be used with caution; elementary students should be able to perform basic arithmetic operations independent of calculator use. Principle 5: Assessment in mathematics must be valued for the sake of knowing what and how students learn or fail to learn mathematics. Assessment is an essential component of mathematics learning. Whether the assessment is carried out by teachers or external groups

her when he returned to the Philippines. She took one look at him and asked herself, “Could I ever be happier than now?” She had two sons. The eldest boy was born while she was hiding during martial law. They lived in a hut surrounded by toilets. Huge flies flitted around as she sang lullabies. For the first time, she fell very ill. The second boy was born soon after she surfaced from hiding. It was December. Like Mary and Joseph, she and her husband walked to the nearest private hospital because there was no room in PGH. She fell sick again. Her colleagues from her home college raised money to bail her out of the hospital. There she was, covered with coal tar and wrapped in plastic from head to toe. The two sons were watching TV when they caught sight of an impossibly beautiful blonde girl on screen. “Kamukhang-kamukha ni Mama,” exclaimed the older to the younger boy. The latter nods in agreement. Bloated, swollen, and in pain, she asked herself, “Could I ever be happier than now?” Now, she is 66. As they say, “Been there. Done that.” She still sings in the choir as first soprano. She re-

and during or all throughout the learning period or at the end of it, results are useful to both teachers and students. It is through assessment, formal or informal, that students know how much mathematics they have learned and how much more they need to know. Assessment tools must be varied in order to understand the diferent dimensions of students’ learning. While exams and quizzes have a place in measuring skills, knowledge development and acquisition, many aspects of mathematical learning could be more effectively measured by other means. Principle 6: Students’ attitudes and beliefs about mathematics affect their learning. Like with any type of learning, students have to maintain wholesome attitudes and positive beliefs about mathematics. Students should develop the attitude that engagement in mathematics is essential and that perseverance, persistence, reflection, self-assessment and self-confidence are keys to success. Students can learn from each other; cooperative work develops a spirit of camaraderie, teamwork and common purpose. Working with other students exposes students to multiple ways of solving and working with mathematics. Principle 7: Mathematics learning needs the support of both parents and other community groups. Studies

the stage to sing for the newlyweds. Of course, he chose his favorite song, “You Are My Sunshine,” giving the audience a happy beat to clap to. It is fitting to remember this song now, and sing it to him, as part of our fervent prayers for the Lord to bless and heal this remarkable man. “You are my sunshine, my only sunshine” “You make me happy when skies are gray” “You’ll never know dear, how much I love you” “Please don’t take my sunshine away.” We may not all be cut from the same political cloth, but there are leaders who defy time, and labels, and are able to gracefully conquer both the grandeur and hardships of politics. There are leaders who are called patriots because of timeless accomplishments. There are leaders whose principles never fade away, no matter how white the hair or slow the walk—and Sen. Nene Pimentel is clearly one of them. Tatay Nene, please be well. We are rooting for you. 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 Inter-Agency Council Against Trafficking.

reads her favorite books and repeatedly watches movies she likes, to the amusement of her sons. She eats whatever she wants, to the despair of her doctors. She keeps her friends of 50 years, and goes around with former students who have become friends. She has not stopped discovering new challenges. And she is still at it. Activism, that is. Only she can’t clamber on top of jeeps. In the middle of something new and exciting, she asks herself, “Could I ever be happier than now?” It is bittersweet happiness. How much longer can she go on? How many more years before the singing voice falters? How much longer will her ears register the magnificence of a piano concerto, the soaring heights of a tenor’s voice or a lyric soprano’s high Cs? Yes, how much longer can the heart bear so much excitement, so many thrills, victories and defeats? But what age can be better than 66? Many times she is so happy she feels she is breathlessly standing on the edge of more tomorrows, with life’s many wonderful secrets still awaiting to be revealed. Eighty years old is far, far away. Happiness is one’s age. Now.

have shown that parental and home support contribute to students’ success in learning mathematics. Families should project positive attitudes and beliefs toward mathematics and the learning of it. Community support for mathematics learning is also as valuable. It is through the community that students could see how mathematics is alive and utilized, particularly in day-to-day activities, such as making purchases. Communities could provide useful resources and other means for students to enhance their learning. To enhance students’ understanding of applications of mathematics, schools rely on local communities for fieldwork and site visits. These activities expose students to the realities of everyday mathematics at work. The goals of mathematics education at the basic education level remain, more or less, the same: “To provide opportunities for students to develop skills and attitudes needed for effective participation in everyday living and prepare them for further education and the world of work so that they make worthwhile contributions to the society at large. Filipinos must do better in mathematics and science if we want to be able to compete globally.

The author is Teacher 3 at Magapit National High School in Cagayan province.

A8 Wednesday, October 16, 2019

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PHL hotels face 15% shortage in sales staff By Ma. Stella F. Arnaldo

@akosistellaBM Special to the BusinessMirror

HE country’s hotel industry is facing a labor shortage as more hospitality professionals, specifically those in the sales sector, look to foreign shores or other industries for employment.

Spea k ing dur ing Monday’s Virtus Awards, Christine U. Ibarreta, president of the influential Hotel Sales and Marketing Association Inc. (HSMA) said, “Driving across the Filipino brand of hospitality, not only are we experiencing a very real labor shortage, but it is critical to get the right people in place now to optimize the results of sales, marketing and revenue management so as to successfully navigate the industry cycle and softer market conditions.” The sales and marketing team

“There are not that many people now going into hotel sales. Also, those who [do so], are promoted prematurely because their directors for sales and marketing either go abroad, to BPOs [businessprocess outsourcing], their own business or online travel agencies.”—Ibarreta

is the backbone of any hotel, resort or accommodation, on which it relies heavily for its bookings and revenues. HSMA’s Virtus Awards recognizes these young sales and

marketing professionals specifically, as well as the marketing campaigns they have undertaken. Ibarreta later told the BusinessMirror, the labor shortage in the sales force is estimated at “about 15 percent of the hotel industry. There are not that many people now going into hotel sales. Also, those who [do so], are promoted prematurely because their directors for sales and marketing either go abroad, to BPOs [business-process outsourcing], their own business or online travel agencies.”

She explained that a lot of young people are averse to taking jobs in sales because “they are afraid of targets/quotas [imposed by the hotel management]. The job is not for the fainthearted and one should get used to rejections in the course of doing their sales calls.” While targets and quotas are also present in other businesses, in the case of the hotel industry, Ibarreta said, “Everyday it’s measured by room nights and revenues. It will be very evident if the sales officer has no production.” See “Hotels,” A2

Full TFA implementation pushed Liveweight By Cai U. Ordinario

@caiordinario

HE full implementation of the World Trade Organization’s (WTO) Trade Facilitation Agreement (TFA) will boost Philippine external trade and gross domestic product (GDP) growth, according to the Asian Development Bank (ADB). In an ADB working paper titled Implementing the Trade Facilitation Agreement: From Global Impacts to Value Chains, ADB Senior Country Economist Utsav Kumar and Developing Trade Consultant Ben Shepherd used a new approach to evaluate the impact of the TFA on exports.

Based on their findings, a full implementation of the TFA will increase Philippine exports by 5.3 percent; imports by 4.3 percent; and real GDP growth by 0.447 percent. “A ll income groups gain in terms of trade and real output from this scenario. Results show that the lower-middle-income group has the most to gain, both in terms of exports and real output, from full Trade Facilitation Agreement implementation by all economies,” the authors said in an Asian Development Blog. “Our results show that the gains from the Trade Facilitation Agreement are larger according to how much an individual economy reforms: bigger policy changes lead

NORTHEASTERLY SURFACE WINDFLOW PREVAILING OVER LUZON as of 4:00 pm - October 15, 2019

to bigger impacts,” they added. The WTO explained that the TFA contained provisions that would expedite the movement, release and clearance of goods, including goods in transit. It added the TFA prescribes measures for effective cooperation between customs and other appropriate authorities on trade facilitation and customs compliance issues. It also contains provisions for technical assistance and capacity building. Kumar and Shepherd said based on the scenario where all economies fully implement the Trade Facilitation Agreement, world trade could increase by $344 billion, or 3.5 percent of the 2015 baseline with a See “TFA,” A2

UN AGENCIES BACK DOH price of hogs POLIO DRIVE; RED CROSS VACCINATES 7,000 KIDS down 30% By Jasper Emmanuel Y. Arcalas @jearcalas

ACKYARD hog raisers are now incurring losses as the liveweight prices of hogs fell by as much as 30 percent, two months after the Philippines confirmed its first-ever African swine fever (ASF) outbreak. Pork Producers Federation of the Philippines (ProPork) President Edwin G. Chen said the farm-gate price of hogs now range from P90 per kilogram to P100 per kg, lower than P120 per kg recorded prior to the ASF outbreaks. “There’s already a drop of 20 percent to 30 percent [in prices] and in other areas, it could be even lower,” Chen told the BusinessMirror on the sidelines of the opening ceremony of the 26th Meat Safety Consciousness Week on Monday. “[Liveweight prices] are very low right now. [Prices] are well below breakeven [level]. Farmers are now losing already,” he added. Chen said the drop could be attributed to the perception of consumers that the dreaded hog disease could affect human health. He said this drove consumers to shift to other protein sources, such as chicken, which caused the price of poultry to go up. “I think we need to build consumer confidence that pork is safe, and there’s no reason for the scare. [ASF] is not a human-health issue. It doesn’t affect humans,” he said. Nonetheless, Chen is optimistic that local pork consumption would pick up soon due to lower pork prices and the approaching holiday season. “We’re thinking that there is an upswing in pork consumption in the next few weeks. Demand would build up especially now that [prices of ] other meats are so high like chicken,” he said. “And during Christmas, people would go back to pork. [The slowdown in demand] is not going to be long term, it’s just temporary like what we experienced in the bird-flu outbreaks,” he added. Market monitoring reports by the Department of Agriculture (DA) showed that retail prices of whole chicken rose to as high as P190 per kg as of October 15, from P150 per kg two months ago.

Pork SRP Chen also appealed to the Department of Trade and Industry (DTI) to set a suggested retail price (SRP) for pork as prices remain high. DA monitoring reports showed that pork prices in wet markets have remained at about P200 to P240 per kg in the past two months that the government sought to control the spread of ASF. “We have already made a call to DTI Undersecretary Ruth Castelo. The farm-gate prices are low, hence, the retail prices in wet market should be down, as well,” he said. “We are calling on the DTI to monitor public markets and maybe we can put an SRP. [The retail prices] should not go beyond P160 to P170 per kg,”

Philippine Red Cross volunteers participated in the ”Sabayang Patak Kontra Polio” activity of the DOH hoping to end Polio once again. The door-to-door campaign not only intends to vaccinate children but aims to educate parents on the importance of vaccines, as well. PHOTO COURTESY OF PRC

HE World Health Organization (WHO) and United Nations Children’s Fund (Unicef ) are backing the Department of Health (DOH) in the synchronized polio vaccination campaign as it aims to reach nearly 2 million children within two weeks to stop the outbreak. This, as the Philippine Red Cross (PRC), which has actively supported the DOH campaign, reported on Tuesday, its teams have administered the polio vaccine to 7,281 children in Metro Manila and two Mindanao provinces in the two days since the

synchronized, DOH-led campaign began. “The polio outbreak is a wakeup call for the Philippines. We must act now to protect children against polio, and other vaccinepreventable diseases through immunization,” said acting WHO Representative in the Philippines Dr. Rabindra Abeyasinghe after the DOH launched on Monday in Metro Manila, Davao City and Marawi City the mass immunization, to run until October 27.

See “Polio,” A2

With Sumitomo’s assent, DOTr fields Dalian trains

HE government has started fielding one Dalian train set on the Metro Rail Transit (MRT) Line 3, albeit provisionally during off peak hours at night. Transportation Assistant Secretary Goddes Hope O. Libiran said the management decided to implement a limited deployment—from 8:30 p.m. to 10:30 p.m.—as it balances the need for more coaches and putting in place better rails. “We are balancing the requirements for fixing the degraded existing system and on the other hand, expanding capacity with the addition of Dalian trains,” she said. Libiran explained that “capacity is not just additional trains. Capacity is also faster speed and shorter headways, which require us to rehabilitate the tracks and fix, and upgrade the signaling system.” This development came after Japanese-Filipino maintenance provider Sumitomo Corp. agreed to the limited deployment of the Chinese-manufactured trains. Maintaining the Dalian trains is not included in its P18-billion upkeep contract with the government. The consent document indicates that the train set will be deployed for an initial trial period up to November 2019, when rail replacement works begin. “Sumitomo just needs to study how to operate the Dalian trains,” Libiran explained. T he Ja p a n I nt e r n at io n a l

Cooperation Agency (Jica) has also given its concurrence to the Dalian Trains Agreement with Sumitomo. Currently, three Dalian train sets—each configured with three coaches—have completed the necessar y commissioning and validation tests. Each Dalian train set has a threecar configuration that can carry 1,050 passengers per trip. To recall, the Aquino administration jump-started the acquisition of new trains for the railway line and tapped Dalian for the said contract. However, despite its full delivery three years ago, the government decided not to use the trains due to technical issues raised by experts. Dalian has since agreed to shoulder all costs to solve the issues raised in the independent safety audit and assessment conducted by German company TUV Rheinland, modifying the weight, signaling, and maintenance equipment of the 48 coaches. Libiran noted that the new agreement is “part of Sumitomo’s study of the Dalian trains, for them to understand the operations and maintenance requirements of the trains.” “After Sumitomo’s study and when the rehabilitated MRT 3 system is already able to run the trains regularly, a supplemental maintenance fee will be discussed with Sumitomo,” she added. Lorenz S. Marasigan

www.businessmirror.com.ph

The World BusinessMirror

Editor: Angel R. Calso • Wednesday, October 16, 2019 A9

China’s factory deflation worsens in Sept

hina’s factory deflation deepened in September due to slowing output growth and falling raw material prices, adding to signs that China’s domestic slowdown is an increasing drag on the struggling world economy.

The producer price index fell 1.2 percent from a year earlier, as forecast by economists in a Bloomberg survey. Surging pork prices drove consumer inflation higher, cutting into household spending power. China’s producer price deflation is acting as a brake on the global price outlook just as central banks step up easing in an attempt to put a floor under slowing world expansion. Weak import data reported on Monday had already added to the gloom over the global outlook, which is worsening amid the uncertainty caused by the US-China dispute. “Growth momentum is definitely weak as indicated by the persistently declining PPI,” said Raymond Yeung, chief Greater China economist at Australia and New Zealand Banking Group Ltd. in Hong Kong. “The industrial recession is not only caused by the trade war but also a lack of domestic drivers.” The consumer price index rose 3 percent year-on-year, the fastest since 2013. That was driven by food prices climbing 11.2 percent and the more than 69-percent jump in pork prices, according to the National Bureau of Statistics. Consumer inflation excluding food and energy remained stable at 1.5 percent.

China’s economy is facing rising downward pressures and economic difficulties are prominent, Premier Li Keqiang said in a meeting with local government leaders, according to state television broadcaster CCTV on Monday. The proper use of countercyclical tools is needed to support growth, Li said, as he called for expanding effective investment and seeking new areas of consumption growth. Chinese policy-makers are facing a rising divergence in inflation, with surging food prices pushing up what consumers pay, while deflation has returned to the industrial sector, hurting profits and making debt repayment more difficult. The PBOC has increased liquidity supply to banks but has refrained from cutting benchmark interest rates so far. Credit data due this week will show if the recent stimulus is actually helping boost lending, while data due Friday is forecast to show economic growth continued to slow in the third quarter. With CPI rising 3 percent, a tentative trade war truce agreed Friday, and policy-makers’ desire to curb debt and financial risks, there may be only a “measured

dose” of stimulus, according to Michelle Lam, greater China economist at Societe Generale SA in Hong Kong.

Swine fever

Given the spread of African swine fever, a sharper contraction in hog stock and pork production, and limited room to increase hog and pork supply, pork prices will trend higher in coming quarters, said Lu Ting, chief China economist at Nomura International Ltd. in Hong Kong. That fever and subsequent slaughter of millions of pigs has pushed up prices, but breeders are unlikely to rush to restock their herds in a meaningful way over fears of catching the disease again, Feng Yonghui, chief analyst with industry portal www.soozhu. com, said at a conference last month. Many farmers are waiting for a vaccine to be developed, Feng said, and the costs of both breeding sows and piglets have surged to record highs, making it more expensive to restock.

Investment drag

The return to PPI deflation since July is not only acting as a drag on manufacturing investment, already under stress from US-China trade tensions and supply-chain relocation, but also poses a major risk for onshore corporate debt refinancing, Bo Zhuang, chief China economist at research firm TS Lombard, said before the inflation data. Sustained PPI deflation, where the monthly rate remained below -2 percent for more than three to six months, would be a likely catalyst for the reversion to oldstyle credit stimulus, he said. The CPI will stay above 3 percent in

3 economists who study poverty win Nobel Prize

TOCKHOLM—Two researchers from the Massachusetts Institute of Technology (MIT) and a third from Harvard University won the 2019 Nobel Prize in economics on Monday for groundbreaking research into what works and what doesn’t in the fight to reduce global poverty. The award went to MIT’s Abhijit Banerjee and Esther Duflo, and Harvard’s Michael Kremer. The 46-year-old Duflo is the youngest person ever to win the prize and only the second woman, after Elinor Ostrom in 2009. The three winners, who have worked together, revolutionized developmental economics by pioneering field experiments that generate practical insights into how poor people respond to education, health care and other programs meant to lift them out of poverty. “Without spending some time understanding the intricacies of the lives of the poor and why they make the choices they make...it is impossible to design the right approach,” Duflo told a news conference held by the Royal Swedish Academy of Sciences, which awarded the prize. Their work in rural Kenya and in India, for instance, found that providing more textbooks, school meals and teachers didn’t do much to help students learn more. Making the schoolwork more relevant to students, working closely with the neediest students and holding teachers accountable— by putting them on short-term contracts, for example—were more effective in countries where teachers often don’t bother showing up for work. The winners’ recommended program of remedial tutoring is now benefiting 5 million Indian children, the academy said. Kremer and others found that providing free health care makes a big difference: Only 18 percent of parents gave their children deworming pills for parasitic infections when they had to pay for them, even though the heavily subsidized price was less than $1. But 75 percent gave their kids the pills when they were free. The World Health Organization now recommends that the medicine be distributed for free in areas with high rates of parasitic worm infections. Banerjee, Duflo and others found that mobile vaccination clinics in India dramatically increased the immunization rates compared to traditional health centers that often went unstaffed. The immunization rate rose further if parents received a bag of lentils as a bonus for vaccinating their children. Banerjee and Duflo, who are married, also found that microcredit programs, which provide small loans to encourage poor people to start businesses, did little to help the poor in the Indian city of Hyderabad; studies in Bosnia-Herzegovina, Ethiopia, Morocco, Mexico and Mongolia, produced similar results.

Esther Duflo (left) and Abhijit Banerjee speak during a news conference at Massachusetts Institute of Technology in Cambridge, Massachusetts, on Monday, October 14, 2019. Banerjee and Duflo, along with Harvard’s Michael Kremer, were awarded the 2019 Nobel Prize in economics for pioneering new ways to alleviate global poverty. AP

Despite enormous progress, global poverty remains a huge challenge, the academy noted. More than 700 million people live in extreme poverty. Five million children die before age 5, often from diseases that can be prevented or cured easily and inexpensively. Half the world’s children leave school without basic literacy and mathematical skills. Still, Kremer sounded a note of hope. “It can often seem like the problems of global poverty are intractable, but over the course of my lifetime and career, the fraction of the world’s people living in poverty has dropped dramatically,” he said in a news release from Harvard. “Over the years, we have learned a lot about what works and what doesn’t work, and why. Governments and nonprofit organizations have become much more effective in addressing, and there is much wider recognition of how researchers and policy-makers can work together in the fight against poverty.” Duflo and Banerjee told a news conference at MIT they weren’t sure how to react when the Nobel committee woke them with the news of their win. Duflo said that when the phone rang, she answered and was told it was an important call from Sweden. She said her response was: “Well, since you’ve now woken me up, go ahead.” Banerjee said the Nobel committee asked about getting one of them on a conference call, but “they said they wanted a woman, and I didn’t qualify”—so he went back to bed. Kremer, who is in London, said he thought a message over Skype from a friend in Sweden asking to speak urgently was a scam. It was only then that it dawned on him what had happened. “I’m stunned,” he said.

Colleagues applauded the three winners. “Well deserved!” tweeted French economist Thomas Piketty, author of a bestselling book on inequality. “Fantastic decision!!” Max Roser, a University of Oxford researcher who founded the Our World in Data project, wrote on Twitter. “Even after two centuries of progress against global poverty I think it is clearly one of the very biggest problems in the world today.” Duflo said receiving the Nobel was “incredibly humbling” while noting that the profession is not always welcoming for women. “Showing that it is possible for a woman to succeed and be recognized for success I hope is going to inspire many, many other women to continue working and many other men to give them the respect that they deserve,” she said. On a practical matter, Duflo told reporters that she and Banerjee, who have two young children, are like any other married couple trying to juggle kids and work. Their children “believe they are the center of the universe, and they don’t accept kitchen table conversation” about weighty matters like economics, she said. That means the couple sneak in shop talk while they’re cooking meals or walking to work. Banerjee’s mother, Nirmala Banerjee, also an economist, told news channel NDTV in India that the prize was unexpected. “He has been trying to get economics away from the theoretical part, but using theory to understand the world as it is,” she said from her home in Kolkata. “The way it works, the way poverty is, the way people handle poverty.” AP

coming months, and could rise to close to 4 percent in January when the Lunar New Year holiday falls, according to Nomura’s Lu. Producer price inflation may fall even more due to

weakening domestic demand, falling energy and raw material prices and the value-added tax cut that became effective in April this year, he said. Bloomberg News

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In the ad material of Notice of filing of Application for Alien Employment Permits published on October 5, 2019, the Company name and address of Mr. Goveas, Ryan John Niel and Mr. Saysay Ernesto Jr Pili in the ad material publish on October 15, 2019 under ALPHALAND SOUTHGATE TOWER, INC. should have been read as ALPHALAND AVIATION, INC. Located at 9/F Alphaland Southgate Tower, 2258 Don Chino Roces Ave., Cor. EDSA, Magallanes, 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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Wednesday, October 16, 2019

Singapore’s GIC, KKR to invest ₧35.3B in MPIC’s hospital arm

By VG Cabuag

@villygc

N affiliate of GIC, Singapore’s sovereign wealth fund, has signed an agreement with Metro Pacific Investments Corp. (MPIC) to invest—in a series of deals on its common shares and exchangeable bonds—a total of P35.3 billion in the conglomerate’s hospital arm.

KKR, or short for Kohlberg Kravis Roberts, a global investment firm, will first invest some P5.2 billion or about $100 million worth of common shares of Metro Pacific Hospital Holdings Inc., or equivalent to about 41.36 million common shares. KKR will take in 6.25 percent of the company through the deal. Proceeds from the sale of shares in the company are expected to be used to support Metro Pacific Hospitals’ potential investments in additional

hospitals and new health-care businesses, the company said in its disclosure. GIC, meanwhile, will restructure its current investment in Metro Pacific Hospitals and will reinvest alongside KKR. In another deal, the KKRled consortium will also invest in a P30.1-billion ($580 mill ion) mand ator i ly e xchange a ble b ond i s s ue d b y M PIC . The exchangeable bond shall grant the KKR-led consortium the right to exchange the bond for

239.93 million common shares in Metro Pacific Hospitals in about 10 years or an initial public offering, which may be considered after further development of the business. MPIC plans to use the proceeds of this issuance to reduce its bank borrowings, the company said. Metro Pacific Hospitals claims to be the largest operator of private hospitals and healthcare network in the Philippines in terms of authorized bed capacity and revenue, with interests in 14 hospitals and approximately 3,200 beds across the country.

Extension of relationship

“I am delighted that we are able to announce this new partnership in the health-care sector, which is an extension of our successful relationship with KKR with its investment in Voyager Innovations, a digital technology company of MPIC’s sister company PLDT,” Manuel V. Pangilinan, chairman of MPIC and Metro Pacific Hospitals, said. “We welcome KKR as a new shareholder. Its cash infusion

into Metro Pacific Hospita ls will enable us to further grow our network, on our way to our new target of 5,000 beds and 30 hospitals before 2030. We also look forward to accessing KKR’s various health-care companies in its global portfolio, to bring over new technologies and processes to improve health-care services in our country,” Jose Ma. K. Lim, president and CEO of MPIC, said. KKR has a long track record of supporting companies in the global health-care sector. In addition to Metro Pacific Hospitals, K K R has invested in Voyager Innovations, which owns PayMaya. The transactions are expected to be completed by the end of 2019. KKR will make this investment from its Asian Fund III. Bank of America Merrill Lynch and UBS are acting as financial advisors to MPIC and GIC. Milbank Llp. and Picazo Buyco Tan Fider & Santos act as legal counsel to MPIC and GIC. Simpson Thacher & Bartlett Llp., and Sycip Salazar Hernandez & Gatmaitan are legal counsel to KKR.

Thin reserves put Luzon grid on yellow alert again By Lenie Lectura

@llectura

OR the second consecutive day this month, the Luzon grid was placed on yellow alert due to thin power reserves. A total of 4,897 megawatts (MW) of power capacity was unavailable, based on data provided by the Department of Energy (DOE) on Tuesday. Of this, 2,944 MW was shaved off from the grid due to power plant forced outage. Also, 1,773 MW was unavailable due to lesser output provided by derated power plants. One power plant, with 180 MW of capacity, is still on scheduled shutdown. The yellow alert took effect from 10 a.m. to 4 p.m., and from 5 p.m. to 7 p.m. Last Monday, the grid was placed on yellow alert for six hours after 4,744 MW of power generating capacity was declared unavailable mainly due to unplanned outage of several power plants. Contributing to Luzon’s thin power reserve is the four-day shutdow n of the Malampaya gas facility, which supplies 40 percent of Manila Electric Co.’s (Meralco) requirement.

The gas facility fuels the following power plants: the 1,000MW Santa Rita, the 500-MW San Lorenzo, the 1,200-MW Ilijan, the 97-MW Avion and the 414MW San Gabriel The operator of the gas facility said the four-day shutdown would allow engineering maintenance works at both onshore gas plant and offshore platform. The completion of Malampaya maintenance work ends Tuesday. With this, DOE Undersecretary Felix William Fuentebella said 1,620 MW would be thrown back to the grid. “We don’t see any yellow alert status for tomorrow because of the additional 1,620 MW from the natural gas plants. Once gas supply is available, Ilijan Blocks A and B [2x600 MW] and San Gabriel [420 MW] will be operational starting tomorrow [Wednesday].” “For Sual Unit 1, as per their report on Monday, the goal is to complete the repair and “washing” of turbine by October 21 or 22. “The preventive maintenance shutdown of Sual Unit 2, which is scheduled to start on October 19 and end on November 17 will be moved until Unit 1 is available and stable,” said Fuentebella.

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PSE STOCK QUOTATIONS

October 15, 2019

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

BDO UNIBANK BANK PH ISLANDS CHINABANK EAST WEST BANK METROBANK PB BANK PBCOM PHIL NATL BANK PSBANK PHILTRUST RCBC SECURITY BANK UNION BANK COL FINANCIAL FIRST ABACUS FERRONOUX HLDG MEDCO HLDG MANULIFE NTL REINSURANCE PHIL STOCK EXCH SUN LIFE

72627704 141900234 1499715 2097708 241050124 256000 229850 2357520 408806.5 48600 60096000 61262090 1771.5 2782362 26070 1560130 12250 85210 81320 3574 89150

34673678 -4885315.5 626580 1217720 49365205 924450 -408806.5 -323610 -22076576 1820743.9997 -

INDUSTRIAL ABOITIZ POWER 38.1 38.6 38.6 38.6 38 38.6 985800 37896630 BASIC ENERGY 0.25 0.255 0.25 0.255 0.25 0.255 870000 217900 FIRST GEN 24.75 24.9 25.25 25.25 24.7 24.9 1536300 38256830 FIRST PHIL HLDG 79.3 79.45 79.05 79.5 79.05 79.1 36730 2910548 MERALCO 366.6 367 365 367 362.6 367 108570 39685412 MANILA WATER 20 20.05 20.25 20.25 19.98 20 301500 6058283 5.05 5.09 5.11 5.12 5.05 5.05 931400 4733210 PETRON 4.16 4.36 4.39 4.39 4.16 4.36 57000 243720 PETROENERGY PHINMA ENERGY 2.56 2.6 2.42 2.65 2.42 2.56 56400000 141907200 10.8 11 10.78 11 10.78 11 28000 306480 PHX PETROLEUM PILIPINAS SHELL 33.95 34 34 34 33.85 34 128500 4363500 7.31 7.35 7.38 7.38 7.3 7.3 116000 849119 SPC POWER 15.62 15.84 15.56 15.9 15.56 15.84 51400 812762 AGRINURTURE AXELUM 4.34 4.35 4.47 4.47 4.35 4.35 7394000 32421770 CENTURY FOOD 15.1 15.16 15.12 15.18 15 15.16 331200 5001852 DEL MONTE 5.44 5.58 5.52 5.65 5.41 5.58 71700 391716 DNL INDUS 8.48 8.5 8.48 8.6 8.48 8.5 356300 3027177 EMPERADOR 6.99 7 7.03 7.03 6.99 7 1266300 8881283 SMC FOODANDBEV 90.05 91 90.15 91 89.9 91 270260 24348524.5 ALLIANCE SELECT 0.69 0.7 0.71 0.73 0.7 0.7 306000 218390 48.5 48.6 48 48.95 48 48.5 143700 6942275 GINEBRA 233.4 233.6 235.2 236.2 232 233.4 718800 168083966 JOLLIBEE 13.1 13.2 13.2 13.2 13.06 13.1 20100 263686 MAXS GROUP 0.185 0.199 0.189 0.2 0.189 0.2 180000 34790 MG HLDG PEPSI COLA 1.74 1.75 1.78 1.78 1.74 1.75 1681000 2948560 11.14 11.16 11.32 11.32 11.16 11.16 81500 911404 SHAKEYS PIZZA 1.95 1.97 1.93 2.04 1.91 1.95 4709000 9186050 ROXAS AND CO RFM CORP 5.1 5.14 5.1 5.15 5.1 5.1 46600 237765 ROXAS HLDG 2.27 2.3 2.32 2.32 2.3 2.3 15000 34700 SWIFT FOODS 0.122 0.123 0.122 0.122 0.122 0.122 270000 32940 UNIV ROBINA 157.5 158.5 158.2 158.5 157.1 158.5 407880 64553764 VITARICH 1.24 1.25 1.2 1.25 1.2 1.24 7798000 9606770 CONCRETE A 68.05 71.45 65.5 71.45 65 71.45 740 51500 CEMEX HLDG 2.44 2.47 2.46 2.47 2.42 2.47 673000 1642640 5.8 6 5.9 5.9 5.8 5.8 8300 48640 DAVINCI CAPITAL EAGLE CEMENT 15.2 15.6 15.5 15.76 15.2 15.6 106200 1643630 10.4 10.44 10.6 10.7 10.46 10.46 40100 423298 EEI CORP 14.8 14.9 14.98 14.98 14.76 14.9 212200 3148596 HOLCIM MEGAWIDE 18.02 18.06 18.04 18.1 18.02 18.02 1710300 30821342 9.41 9.6 9.6 9.6 9.41 9.41 12000 114884 PHINMA TKC METALS 1.03 1.05 1.03 1.06 1.03 1.05 133000 137230 VULCAN INDL 1.15 1.16 1.1 1.18 1.09 1.15 4867000 5589650 CHEMPHIL 120 134 120 120 120 120 150 18000 CROWN ASIA 2.03 2.06 2.03 2.03 2.03 2.03 3000 6090 LMG CHEMICALS 5.2 5.27 5.2 5.27 5.2 5.2 19700 102447 PRYCE CORP 5.37 5.4 5.41 5.41 5.37 5.4 239300 1292084 CONCEPCION 31.6 32 32 32 31 32 7500 239700 GREENERGY 2.43 2.45 2.45 2.46 2.42 2.45 4009000 9805500 8.05 8.22 8.68 8.72 8.05 8.05 851400 7015839 INTEGRATED MICR 1.48 1.5 1.52 1.53 1.47 1.53 95000 140660 IONICS PANASONIC 5.04 5.47 5.47 5.47 5.47 5.47 300 1641 SFA SEMICON 1 1.01 1 1.01 1 1.01 19000 19170 CIRTEK HLDG 8.55 8.57 8.9 8.9 8.55 8.55 588000 5092579

-7694890 28126945 -1366920.5 4342916 -675828 -756935 -2222460 955580 6633 309016 5642900 3769068 -353008 333149 -3933300 -19563211 4230875 50683910 -100850 462100 -828282 -2566974 -1421780 -389870 1371670 -119326 8653456 -23200 -227200 -728850 1736291 -1275652

HOLDING & FRIMS

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

148.4 93.05 24.9 11.9 68.45 12.8 20.5 42.9 57.65 115 25.9 196.4 59.05 18.56 0.52 4.82 0.405 740 0.89 176.1 1780

0.86 12.5 875 53.1 11.46 3.52 6.62 0.71 1.12 1.15 6.65 8.73 13.2 0.216 849 70.7 5.12 0.48 4.31 13.84 0.58 4.89 0.038 1.43 2.6 1.27 994.5 165.4 0.84 220.6 0.222 0.222

148.5 93.1 24.95 12.06 68.5 13 20.7 43 57.75 134 26 197 59.95 18.6 0.58 4.95 0.41 774 0.91 178.7 1830

0.87 12.78 878.5 53.5 11.48 3.53 6.89 0.72 1.13 1.16 6.7 8.75 13.4 0.228 853 71 5.92 0.51 4.38 13.94 0.6 4.9 0.039 1.45 2.95 1.3 995 165.9 0.85 221 0.223 0.23

147.3 93.4 25 12.08 68.35 12.8 20.75 43.3 57.95 135 26.05 197.5 59.05 18.58 0.53 4.8 0.41 774 0.9 178.7 1795

0.87 12.7 880 53.5 11.2 3.57 6.61 0.7 1.13 1.15 6.73 8.82 13.2 0.218 849 72 5.23 0.5 4.38 13.64 0.58 5.19 0.039 1.42 2.95 1.26 1010 167 0.86 221 0.223 0.23

148.5 93.4 25 12.08 68.7 12.8 20.75 43.4 57.95 135 26.5 197.5 59.05 18.6 0.53 5.18 0.41 775 0.92 178.7 1795

0.88 13.2 880 53.55 11.66 3.57 6.61 0.72 1.15 1.16 6.73 8.83 13.4 0.218 864.5 72.05 5.23 0.52 4.38 13.94 0.6 5.19 0.039 1.48 2.95 1.26 1010 167 0.86 221 0.223 0.23

146 92.65 24.9 12 68.05 12.8 20.5 42.9 57.6 135 25.9 192.4 59.05 18.58 0.52 4.8 0.405 774 0.89 178.7 1780

0.86 12.42 871 53.05 11.18 3.45 6.61 0.69 1.12 1.15 6.64 8.58 13.2 0.218 840 69.8 5.11 0.48 4.25 13.64 0.58 4.72 0.038 1.42 2.95 1.26 993.5 165.1 0.84 221 0.223 0.23

148.5 93.1 24.95 12.06 68.5 12.8 20.7 43 57.75 135 25.9 197 59.05 18.6 0.52 4.95 0.405 775 0.89 178.7 1780

0.86 12.76 878.5 53.5 11.48 3.53 6.61 0.72 1.13 1.16 6.7 8.75 13.4 0.218 853 71 5.11 0.51 4.31 13.94 0.6 4.9 0.038 1.43 2.95 1.26 995 165.9 0.84 221 0.223 0.23

491120 1524280 60100 174400 3520030 20000 11200 54800 7070 360 2298300 314800 30 149600 50000 314000 30000 110 91000 20 50

3487000 22800 403630 216650 17170300 562000 4600 203000 543000 202000 631600 6546300 30100 340000 64570 263810 1000 135000 1037000 578500 276000 73168300 4800000 231000 1000 110000 274055 99900 311000 150 300000 40000

3017120 292482 353564535 11575800.5 196767340 1979310 30406 143720 616110 232320 4230655 56784108 401322 74120 55053480 18713409 5122 65135 4459120 7979376 163940 365359934 182900 335290 2950 138600 272785427.5 16533355 263040 33150 66900 9200

-197630 14980 -7655820 -5694620.5 19599248 -25780 86250.0001 194278 -18562880 -63714 -1661510 -3211547 -1285090 1652930 41089.9998 -33576726 87400 -36750 -142090032.5 1338708 -

PROPERTY ARTHALAND CORP 0.86 0.87 0.89 0.89 0.86 0.88 145000 127870 ANCHOR LAND 9.3 9.99 9.3 9.99 9.01 9.99 5100 46919 AYALA LAND 48 48.05 48.05 48.15 47.9 48 5128100 246255800 17088155 ARANETA PROP 1.79 1.85 1.85 1.85 1.85 1.85 1000 1850 BELLE CORP 2.03 2.04 2.03 2.07 2.03 2.03 591000 1208640 -104440 A BROWN 0.8 0.82 0.81 0.82 0.8 0.82 1103000 888550 0.206 0.21 0.21 0.21 0.206 0.206 520000 109160 CROWN EQUITIES CEBU HLDG 6.1 6.29 6.29 6.29 6.29 6.29 11000 69190 CEB LANDMASTERS 4.68 4.69 4.69 4.78 4.69 4.69 81000 381720 -51680 0.55 0.56 0.55 0.56 0.55 0.55 7454000 4120240 11550 CENTURY PROP 0.39 0.395 0.39 0.39 0.39 0.39 10000 3900 CYBER BAY DOUBLEDRAGON 20.85 20.9 20.6 21.3 20.5 20.9 200200 4179220 597425 9.76 9.78 9.78 9.82 9.76 9.78 50000 489324 DM WENCESLAO EMPIRE EAST 0.43 0.44 0.435 0.435 0.43 0.43 80000 34750 FILINVEST LAND 1.59 1.6 1.6 1.6 1.58 1.6 9359000 14885760 8216720 GLOBAL ESTATE 1.2 1.22 1.2 1.22 1.2 1.22 230000 279570 8990 HLDG 15.02 15.04 15.04 15.04 15.02 15.04 555300 8351698 -52626 PHIL INFRADEV 1.35 1.36 1.36 1.39 1.34 1.36 1499000 2039790 652970 KEPPEL PROP 4.22 4.68 4.61 4.61 4.61 4.61 2000 9220 MEGAWORLD 4.72 4.73 4.77 4.79 4.71 4.72 24766000 117137950 -32835880 0.3 0.305 0.305 0.305 0.3 0.305 2360000 709500 MRC ALLIED PRIMEX CORP 2.02 2.04 2.03 2.04 2.01 2.04 135000 273070 ROBINSONS LAND 25.35 25.5 25.45 25.55 25.4 25.5 2797700 71305645 32058100 0.365 0.38 0.365 0.37 0.365 0.37 110000 40250 PHIL REALTY ROCKWELL 2.3 2.33 2.3 2.35 2.3 2.33 26000 60300 SHANG PROP 3.23 3.25 3.25 3.25 3.23 3.23 44000 142320 STA LUCIA LAND 2.76 2.78 2.7 2.76 2.68 2.76 729000 1992040 40200 SM PRIME HLDG 38.1 38.15 39 39.1 38.1 38.1 5289200 202484080 -37702545 VISTAMALLS 5.65 5.75 5.66 5.75 5.65 5.75 21400 121340 SUNTRUST HOME 0.89 0.93 0.88 0.93 0.88 0.93 88000 78880 PTFC REDEV CORP 50 53 45.15 53 45.15 53 640 31606 VISTA LAND 7.59 7.69 7.65 7.69 7.6 7.69 2311000 17721008 -6026987 SERVICES ABS CBN 19.3 19.34 19.06 19.56 19.06 19.34 478400 9232926 GMA NETWORK 5.2 5.22 5.23 5.25 5.2 5.22 79800 417152 MANILA BULLETIN 0.41 0.44 0.415 0.415 0.415 0.415 150000 62250 MLA BRDCASTING 13 14.88 13 13 13 13 700 9100 GLOBE TELECOM 1837 1838 1845 1845 1826 1838 44880 82419700 -32560460 PLDT 1100 1110 1112 1114 1095 1100 73525 80996705 -35189670 0.042 0.044 0.043 0.044 0.042 0.044 15700000 660100 APOLLO GLOBAL DFNN INC 5.5 6.15 5.71 5.71 5.6 5.6 50000 280278 -280278 0.107 0.111 0.107 0.107 0.107 0.107 890000 95230 ISLAND INFO ISM COMM 4.88 4.89 5.01 5.01 4.89 4.89 2800300 13800720 515350 3.08 3.12 3.15 3.17 3.03 3.12 3038000 9418700 100620 NOW CORP 0.315 0.32 0.32 0.325 0.315 0.315 1820000 581300 22400 TRANSPACIFIC BR 3.12 3.14 3.08 3.18 3.08 3.12 213000 663940 -72060 PHILWEB 2GO GROUP 10.12 10.2 10.1 10.26 10.1 10.12 7600 76828 ASIAN TERMINALS 14.14 16.98 17.2 17.2 17 17 1500 25700 CHELSEA 7.05 7.08 7.13 7.15 7.03 7.05 387200 2734336 39036 CEBU AIR 94.5 95 95 95.1 94.5 94.5 363910 34484579.5 26838765.5 INTL CONTAINER 120.9 121 120.1 122 120.1 121 1924270 232767469 -53496929 MACROASIA 18.36 18.42 18.38 18.38 17.9 18.36 618100 11252734 3370550 METROALLIANCE A 1.09 1.1 1.12 1.12 1.1 1.1 78000 86130 1.15 1.16 1.16 1.16 1.16 1.16 57000 66120 METROALLIANCE B PAL HLDG 8.05 8.2 8.2 8.2 8.2 8.2 600 4920 HARBOR STAR 1.59 1.6 1.59 1.6 1.58 1.6 124000 196750 19080 1.54 1.66 1.64 1.66 1.64 1.66 12000 19720 ACESITE HOTEL BOULEVARD HLDG 0.051 0.053 0.049 0.055 0.048 0.053 128900000 6677500 -72000 0.67 0.68 0.69 0.69 0.67 0.68 1604000 1087860 WATERFRONT IPEOPLE 8.15 8.29 8.15 8.15 8.15 8.15 2000 16300 STI HLDG 0.67 0.68 0.68 0.68 0.67 0.68 2677000 1819260 -1641160 BERJAYA 2.32 2.35 2.35 2.35 2.35 2.35 30000 70500 BLOOMBERRY 10.86 10.92 10.84 10.9 10.8 10.9 3612800 39342908 -1620004 PACIFIC ONLINE 2.87 2.88 2.87 2.88 2.76 2.88 38000 108600 LEISURE AND RES 3 3.04 3 3.04 2.98 3.04 189000 572740 MANILA JOCKEY 3.36 3.4 3.27 3.4 3.27 3.4 25000 84810 PH RESORTS GRP 4.8 5.08 5 5.1 4.91 5.08 5800 28742 0.68 0.7 0.68 0.69 0.68 0.68 1457000 995840 206999.9999 PREMIUM LEISURE 8.01 8.69 8.5 8.69 8.5 8.69 300 2569 PHIL RACING ALLHOME 11.48 11.5 11.56 11.56 11.48 11.5 19075200 219309470 -67611636 2.41 2.43 2.42 2.43 2.39 2.43 298000 717240 -79100 METRO RETAIL 40.45 40.55 40.55 40.85 40.4 40.55 655300 26613300 315505 PUREGOLD 76.85 77 79 79 76.65 77 406310 31366690.5 7301534 ROBINSONS RTL 2.45 2.47 2.5 2.5 2.42 2.45 1737000 4262720 -272310 SSI GROUP WILCON DEPOT 16.4 16.5 16.22 16.7 16.22 16.4 1170800 19096180 -1557182 APC GROUP 0.57 0.58 0.6 0.61 0.55 0.57 11358000 6547050 -413300.0001 EASYCALL 9.05 9.2 9.3 9.3 9.02 9.04 32100 292434 GOLDEN BRIA 431 439.8 440 440 430.2 439.8 500 218906 PAXYS 2.77 2.98 2.77 2.77 2.77 2.77 2000 5540 PRMIERE HORIZON 0.5 0.51 0.52 0.52 0.5 0.51 3548000 1806530 -109010 SBS PHIL CORP 9.3 9.32 9.2 9.3 9.19 9.3 31200 289717 MINING & OIL ATOK 11.9 12.6 12.66 12.66 11.82 12.6 5400 64968 APEX MINING 1.13 1.14 1.15 1.15 1.14 1.14 493000 562140 -168840 ABRA MINING 0.0016 0.0017 0.0017 0.0017 0.0016 0.0016 73000000 123800 ATLAS MINING 2.51 2.52 2.51 2.51 2.51 2.51 50000 125500 CENTURY PEAK 2.58 2.62 2.58 2.62 2.58 2.62 588000 1522720 DIZON MINES 7.5 7.7 7.55 7.7 7.5 7.7 3600 27061 1.7 1.71 1.7 1.72 1.67 1.7 26175000 44193350 982870 FERRONICKEL 0.203 0.211 0.215 0.215 0.203 0.211 560000 115470 GEOGRACE LEPANTO A 0.106 0.107 0.106 0.106 0.106 0.106 60000 6360 MANILA MINING A 0.0093 0.0098 0.0092 0.0098 0.0092 0.0098 400000 3750 MARCVENTURES 1.12 1.14 1.16 1.16 1.12 1.13 93000 104770 NIHAO 1.02 1.03 1.05 1.08 1.02 1.02 56000 58070 NICKEL ASIA 3.91 3.93 3.94 3.98 3.89 3.93 5484000 21515500 4110510 ORNTL PENINSULA 0.85 0.86 0.85 0.87 0.84 0.86 258000 217610 10200 PX MINING 3.6 3.62 3.65 3.65 3.6 3.62 393000 1423530 -3650 SEMIRARA MINING 22.95 23 23 23 22.95 23 111200 2555940 -44220 ORNTL PETROL A 0.011 0.012 0.011 0.011 0.011 0.011 2000000 22000 ORNTL PETROL B 0.011 0.012 0.011 0.011 0.011 0.011 200000 2200 PHILODRILL 0.011 0.012 0.012 0.012 0.011 0.011 10700000 118700 PHINMA PETRO 10.88 10.9 10.12 10.9 10.12 10.88 2762000 29329086 -279712 12.3 12.32 12.34 12.48 12 12.3 405000 4938390 1563836 PXP ENERGY PREFFERED HOUSE PREF A 96.9 98.15 97 98.15 96.8 98.15 540 52347 AC PREF B1 502 508 508 508 508 508 30 15240 AC PREF B2 486 500 500 500 500 500 10 5000 ALCO PREF B 100.3 103.8 101.2 101.2 100.2 100.2 21000 2124280 DD PREF 100.4 100.9 100.3 100.3 100.3 100.3 3310 331993 SMC FB PREF 2 995 997 995 998 995 995 3240 3229595 107.9 109 109 109 109 109 11070 1206630 FGEN PREF G GLO PREF P 503 510 509.5 509.5 503 503 3780 1918760 GTCAP PREF B 979 992 992 992 992 992 180 178560 LR PREF 1 1.01 1 1 1 1 37000 37000 MWIDE PREF 101 101.2 101.2 101.2 101.2 101.2 9320 943184 PNX PREF 3A 100.5 102 102 102 102 102 9900 1009800 PCOR PREF 2B 1016 1036 1036 1036 1036 1036 475 492100 PCOR PREF 3A 1050 1052 1050 1054 1050 1050 7550 7930350 PCOR PREF 3B 1060 1079 1079 1079 1079 1079 1675 1807325 SMC PREF 2C 77.4 77.5 77.8 77.8 77.5 77.5 90330 7012747.5 SMC PREF 2D 75 75.5 75.5 75.5 75.5 75.5 1000 75500 SMC PREF 2E 76 77.9 76 76 76 76 2050 155800 SMC PREF 2F 76.5 77 77 77 77 77 3880 298760 SMC PREF 2G 75.85 77.95 75.5 75.5 75.5 75.5 20 1510 75.65 76 76 76 75.65 75.65 140200 10606200 SMC PREF 2I PHIL. DEPOSITARY RECEIPTS

ABS HLDG PDR GMA HLDG PDR

18.4 5.04

18.5 5.11

18.76 5.15

18.32 5.05

18.4 5.05

224400 408100

4134950 2067973

WARRANTS LR WARRANT

1.54

SMALL & MEDIUM ENTERPRISES ITALPINAS 6.5 KEPWEALTH 11.32 MAKATI FINANCE 2.51 XURPAS 0.89

1.6

1.59

7000

11160

6.57 11.48 2.53 0.9

6.4 12 2.38 0.89

6.65 12 2.54 0.9

6.35 11.3 2.35 0.89

6.57 11.32 2.53 0.9

499000 1253300 153000 504000

3251290 14503852 379060 448850

683560 11480 -13350

EXHANGE TRADE FUNDS FIRST METRO ETF

117.9

-61908 -103000

118

118.3

117.9

118

5010

591278

4720

www.businessmirror.com.ph

Century Pacific signs multiple deals with Russian firms

By VG Cabuag

@villygc

ANNER Century Pacific Food Inc. on Tuesday said it has signed multiple deals to supply tuna, sardine, and coconut milk products to top Russian firms.

Under separate agreements, Century Pacific will supply tuna and sardine products to Magnit Food Retail Chain, Dalimo and LLC Dalpromryba. It will also supply coconut milk products to Panasia

Impex Co. Ltd. These were among the business deals worth $12.57 million that were signed during President Duterte’s five-day official visit to Russia early this month.

“Russia is an attractive market for us because of its large, increasingly affluent, and highly educated population,” the company’s Chief Operating Officer Gregory Banzon said. Russia has the sixth-largest economy in the world and a population of 146 million people. The multiple deals follow accreditation of Century Pacific’s various manufacturing plants, allowing the company to meet and service various requirements of established food brands and retailers in Russia. “The supply agreements will help us build a global consumer

base for our flagship brand Century Tuna, which is already gaining traction abroad, and grow as well our emerging coconut milk business,” Banzon said. The Philippines is already the top tuna exporter to Spain, Germany and Britain. The country exports 171,452 metric tons of tuna worth $492 million to these three markets alone each year. Century Pacific is one of the country’s largest exporters of tuna and coconut products to the world. It also maintains market leadership in the domestic canned tuna market and is investing in an emerging local coconut business.

₧56-B PHL’s 1st supercritical coal-fired power plant switches on in Quezon By Lenie Lectura @llectura

AUBAN, Quezon—San Buenaventura Power Ltd. Co. (SBPL) inaugurated here the country’s first supercritical coal-fired power plant, providing Luzon 500 megawatts (MW) of additional capacity. T he P5 6 . 2- b i l l io n p o w e r plant started commercial operations last September 26, but was only formally inaugurated October 15. Meralco PowerGen Corp. (MGen) President Rogelio Singson said in his speech that this is the country’s most advanced operational coal plant that utilizes a high-efficiency, lowemissions coal technology. He explained that this technology can reduce carbon dioxide emissions and improve the efficiency of the power plant by producing more amount of energy with less coal. “Significant advances in coalfired power plant technology demonstrate that we do not have to choose between affordable and reliable electricity or a cleaner environment,” he said. “As a pioneer of this technology, SBPL is setting the bar higher in operating coal plants in the Philippines,” added the official. The SBPL plant is a partnership between MGen and New Growth BV, a wholly owned subsidiary of the Electricity Generating Co. of Thailand (Egco). Egco is the first independent pow-

er producer in Thailand. It has the state-owned Electricity Generating Authority of Thailand as a controlling shareholder. MGen, on the other hand, is the power-generation subsidiary of Manila Electric Co. (Meralco)—the country’s largest electricity distributor. The P56.2-billion power plant was partly funded by a P42.15-billion project finance facility—the Philippines’s largest all-peso transaction to date that was put together by a consortium of local banks. It was built by the consortium of South Korea’s Daelim Industrial Co. Ltd. and Japan’s Mitsubishi Corp. which are both experienced engineering, procurement and construction contractors with very strong track records. The ceremonial switch-on of the power plant was led by Energy Secretary Alfonso Cusi, Energy Regulatory Commission Chairman Agnes VST Devanadera, Ambassador of Thailand to the Philippines Vasin Ruangprateepsaeng, Mauban Mayor Marita Llamas, and executives from Meralco and Egco Groups. “The Philippine Electric Power industry welcomes the entry of new and emerging technologies, such as this supercritical power-generation technology which produces more efficient power generation while emitting less greenhouse gases. I am glad to take part in this inauguration of one of the most advanced and effi-

Task force on Daneco presents new name to Davao del Norte, ComVal consumers

AGUM, Davao del Norte— The Davao del Norte Electric Cooperative (Daneco) will now be renamed Northern Davao Electric Cooperative (Nordeco) to indicate the coverage of the two provinces comprising the franchise, according to the Malacañang-created task force to restore order at the then strifetorn Daneco. The renaming would also signal the reorganization of the cooperative, from the temporary management by the Task Force DuterteNorthern Davao Power to the new set of officials and board of directors that consumers will elect during another general assembly soon. Mario Angelo M. Sotto, the National Electrification Administration (NEA) supervisor for Daneco, told reporters at the side of the special general assembly here on Saturday that the reorganized electric cooperative would be finalized in January next year after a series

of transition activities, including the reorganization meeting next week and an election of officers next month in another general assembly. The transition would also commence immediately with the reorganization meeting, handing the management of the Daneco Inc. from the task force, to the soonto-be renamed Nordeco, to the new set of officers. The task force was formed in February 2017, after a lingering period of violent strife in the Daneco management, which split into two in 2011—one group allied with the NEA management, and the other with the Cooperative Development Authority. Each group collected the bills payment of the consumers. The task force said Daneco was saddled with financial obligations to power suppliers of P2.1 billion when it took over the management in 2017. Manuel T. Cayon

cient plants in the country,” said Cusi. For ERC’s part, Devanadera said SBPL’s power plant is “the response” to the country’s much

mutual funds

needed additional power supply. “No plant like this can ever go up without support of community,” she added.

October 15, 2019

NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds ALFM Growth Fund, Inc. -a 253.99 6.35% -0.24% -0.08% 0.71% ATRAM Alpha Opportunity Fund, Inc. -a 1.5094 11.16% 4.02% 0.92% 4.76% ATRAM Philippine Equity Opportunity Fund, Inc. -a 3.9115 5.35% -1.52% -1.45% 0.22% Climbs Share Capital Equity Investment Fund Corp. -a 0.9455 10.37% n.a. n.a. 4.94% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.8631 9.89% n.a. n.a. 5.17% First Metro Save and Learn Equity Fund,Inc. -a 5.3983 10.06% 1.41% 0.44% 2.37% First Metro Save and Learn Philippine Index Fund, Inc. -a,6 0.8661 10.16% -2.93% n.a. 3.51% MBG Equity Investment Fund, Inc. -a 115.23 3.37% n.a. n.a. -0.81% PAMI Equity Index Fund, Inc. -a 51.8488 11.8% 2.01% n.a. 5.33% Philam Strategic Growth Fund, Inc. -a 538.53 11.61% 0.82% 0.38% 4.62% Philequity Dividend Yield Fund, Inc. -a 1.3016 8.71% 1.77% 2.28% 3.8% Philequity Fund, Inc. -a 38.3316 10.06% 2.65% 1.85% 4.64% Philequity MSCI Philippine Index Fund, Inc. -a,3 1.0305 n.a. n.a. n.a. n.a. Philequity PSE Index Fund Inc. -a 5.2704 13.09% 2.8% 2.84% 6.28% Philippine Stock Index Fund Corp. -a 879.9 13.11% 2.71% 2.51% 6.21% 0.8996 11.43% 1.11% n.a. 4.6% Soldivo Strategic Growth Fund, Inc. -a Sun Life Prosperity Philippine Equity Fund, Inc. -a 4.2662 10.66% 2.32% 1.73% 5.11% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 1.0107 12.64% 2.59% n.a. 5.91% United Fund, Inc. -a 3.7109 11.75% 4.08% 3.01% 6% Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c,2 117.973 13.35% 3.47% 3.55% 6.52% ATRAM AsiaPlus Equity Fund, Inc. -b $0.9603 3.49% 2.14% -0.53% 3.36% Sun Life Prosperity World Voyager Fund, Inc. -a $1.2908 6.33% 7.71% n.a. 16.79% Balanced Funds Primarily invested in Peso securities ATRAM Dynamic Allocation Fund, Inc. -a 1.6022 0.44% -2.84% -3.2% -2.97% ATRAM Philippine Balanced Fund, Inc. -a 2.2673 6.32% -0.42% -0.13% 2.63% First Metro Save and Learn Balanced Fund Inc. -a 2.6451 9.05% 1.49% -1.09% 4.01% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,8 0.2343 n.a. n.a. n.a. n.a. Grepalife Balanced Fund Corporation -a 1.3444 5.98% n.a. n.a. 3.07% NCM Mutual Fund of the Phils., Inc. -a 1.9598 10.07% 1.89% 1.44% 6.33% PAMI Horizon Fund, Inc. -a 3.7796 12.52% 0.74% 0.62% 7.09% Philam Fund, Inc. -a 16.9453 12.15% 0.78% 0.56% 6.52% Solidaritas Fund, Inc. -a 7.46% 1.39% 1.51% 3.77% 2.1472 Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.8761 9.91% 1.71% 1.29% 6.16% Sun Life Prosperity Achiever Fund 2028, Inc. -a,d,4 1.0176 n.a. n.a. n.a. n.a. Sun Life Prosperity Achiever Fund 2038, Inc. -a,d,4 1.0057 n.a. n.a. n.a. n.a. Sun Life Prosperity Achiever Fund 2048, Inc. -a,d,4 1.0026 n.a. n.a. n.a. n.a. Sun Life Prosperity Dynamic Fund, Inc. -a 0.9841 9.58% 1.35% 0.97% 6.77% Primarily invested in foreign currency securities Cocolife Dollar Fund Builder, Inc. -a $0.03837 10.9% 2.36% 2.29% 8.7% PAMI Asia Balanced Fund, Inc. -a $0.9848 6.3% 2.01% 0.09% 7.78% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $3.7494 6.43% 5.61% 3.83% 13.32% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a $1.1064 5.77% 3.24% n.a. 9.54% Bond Funds Primarily invested in Peso securities ALFM Peso Bond Fund, Inc. -a 355.05 3.99% 2.42% 2.28% 3.37% ATRAM Corporate Bond Fund, Inc. -a,1 1.9194 3.37% 0.18% -0.06% 3.24% Cocolife Fixed Income Fund, Inc. -a 3.0893 5.05% 5.27% 5.23% 3.8% Ekklesia Mutual Fund Inc. -a 2.2114 4.45% 1.57% 1.97% 3.86% 5.89% First Metro Save and Learn Fixed Income Fund,Inc. -a 2.3349 5.47% 1.53% 1.5% Grepalife Fixed Income Fund Corp. -a P 1.6088 2.22% -0.63% 0% 2.84% Philam Bond Fund, Inc. -a 4.3074 14.31% 1.15% 1.6% 9.89% Philequity Peso Bond Fund, Inc. -a 3.7474 8.48% 1.99% 1.55% 6.55% Soldivo Bond Fund, Inc. -a 0.9511 9.23% 0.22% n.a. 6.72% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.027 9.96% 2.77% 2.4% 9.44% Sun Life Prosperity GS Fund, Inc. -a 1.6739 9.36% 2.2% 1.96% 8.7% Primarily invested in foreign currency securities ALFM Dollar Bond Fund, Inc. -a $465.94 4.54% 2.05% 2.87% 3.91% ALFM Euro Bond Fund, Inc. -a Є220.22 3.36% 1.34% 1.51% 3.55% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.2032 7.39% 2.27% 2.52% 6.88% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0259 4.44% 1.19% 1.62% 4.44% Grepalife Dollar Bond Fund Corp. -a $1.7149 1.54% -1.44% 0.46% 1.46% PAMI Global Bond Fund, Inc -a $1.0983 7.21% 0.04% -1.16% 5.98% Philam Dollar Bond Fund, Inc. -a $2.411 12.82% 2.17% 3.46% 11.07% Philequity Dollar Income Fund Inc. -a $0.0602642 5.99% 2.04% 2.11% 5.73% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.1735 10.33% 1.57% 2.96% 10.49% Money Market Funds Primarily invested in Peso securities ALFM Money Market Fund, Inc. -a 124.92 4.2% 2.68% 2.1% 3.34% First Metro Save and Learn Money Market Fund, Inc. -a,5 1.024 n.a. n.a. n.a. n.a. Philam Managed Income Fund, Inc. -a 1.241 5.9% 2.34% 1.48% 5% Sun Life Prosperity Money Market Fund, Inc. -a 1.2567 3.89% 2.81% 2.22% 3.08% Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0337 2.19% n.a. n.a. 1.75% 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.). 7 - Launch date is August 1, 2019. 8 - Launch date is September 28, 2019. "While we endeavor to keep the information accurate, the Philippine Investment Funds Association (PIFA) and its members make no warranties as to the correctness of the newspaper’s publication and assume no liability or responsibility for any error or omissions. You may visit http://www. pifa.

com.ph to see the latest NAVPS/NAVPU."

www.businessmirror.com.ph

Banking&Finance

DBP taps firm for cashless disbursements to farmers

BusinessMirror

n line with the governmentâ&#x20AC;&#x2122;s call to boost financial inclusion in the country and for more efficient delivery of public services to citizen beneficiaries, the Development

Bank of the Philippines has chosen PayMaya Philippines Inc. as digital financial services partner for its assistance program that aims to help farmers improve their livelihood and

Wednesday, October 16, 2019 B3

productivity. Under the program, farmer beneficiaries will be able to receive payments for their produce, as well as disbursements from cash assistance from DBP-partner local

government units and organizations through their PayMaya-powered ID cards. PayMaya will also be providing the cashless disbursement platform to the partner organizations. PNA

B4 Wednesday, October 16, 2019

Premium beauty supplement National University Campus defies age, skin problems E opens at SM city fairview! N OW, one can shop, dine, have fun . . . and learn at the SM Malls, as National University opens a new campus at SM City Fairview. National University Fairview is the third NU Campus to open as a part of NU’s 10-year expansion plan. Located at one of the towers at the SM City Fairview Complex, NU Fairview will be offering extension programs from

National University Main and National University Asia Pacific College namely BS Business Administration, BS Hospitality Management, and BS Information Technology. Gracing the ceremony were Quezon City 5 th District Congressman Alfred Vargas with Councilor PM Vargas, together with the National University Officials headed by NU President and CEO DR. RJ

Ermita, NU Vice Chairman of the Board Teddy Ocampo, and NU Board of Director Ramon Dimacali, and SM Supermalls COO Mr. Steven Tan Online application for 2 nd term AY 2019-2020 is still on going and classes will begin on October 7, 2019. For admission inquiries, interested students may visit NU Fairview on Facebook or call (02) 401-6760 or e-mail at admissionsnufairview@nu.edu.ph.

NATIONAL UNIVERSITY OPENS A NEW CAMPUS AT SM CITY FAIRVIEW, the third NU Campus to open as part of the university’s 10-year expansion program. Quezon City 5th District Representative Cong. Alfred Vargas and QC 5th District Councilor PM Vargas (right) graced the occasion along with NU Board of Director Ramon Dimacali, NU President Dr. RJ Ermita, NU Vice Chairman of the Board Teddy Ocampo, NU Director Ramon Dimacali, the officiating priest, Fr. Nonet Legaspi (center), and SM Supermalls COO Steven Tan.

VERY woman -- and even man -- would love to have powerful sunblock that keeps her skin hydrated, moisturized, bright and protected from the harmful rays of the sun & DNA damage. Now there's Dfyage, a superantioxidant that fights off free radicals and environmental stress by creating an invisible shield that blocks pollutants that cause premature aging. With this youthboosting supplement, you’ll experience ultimate luxury and watch as it reverses the looks of fine lines and revives the look of youthful skin. This oral sunblock gives radiant skin in two weeks! Take the case of former movie star Cristina Romualdez, currently the Mayor of Tacloban City. Romuladez attests to have fewer wrinkles, more lift, glowing & protected skin - at the age of 50. The public servant and a full-time mother reveals her secret to stress-free youthful look: “I always believe that managing stress comes with self-discipline. Discipline to work hard and

maintain a positive mindset, a strong body, and a fit soul. Holistic wellness, as I’d like to call it." She added: "I usually go to the spa, read a book, and for my beauty secret, it’s 4 capsules of Dfyage a day. This heaven-sent supplement protects my body against free radicals & DNA damage. I carry Dfyage wherever I go because it’s a very effective oral sunblock. It's worry-free because I don’t need sticky sunscreens anymore to protect myself from harmful UV rays.” Dfyage is first in the local and global market with the premium formulation of Astaxanthin, L-Glutathione, and Tremella Fuciformis; created by Olai Espiritu, the same woman who popularized and pioneered the use of Glutathione in the Philippines. “I wanted to develop a product that will solve all my skincare problems - aging, dry skin, uneven skin tone and the use of sticky sunscreen. And now we have the more advanced and premium supplement that is first in the world," she said. NATURE'S MESSAGE WELLNESS SPA OPENS IN SAN FERNANDO, PAMPANGA. With the purpose of providing a health and wellness through touch therapy, and a "me time" with body massage using essential oils mostly sourced locally, Nikon Valiente, President of Nature's Me-Saj Wellness Spa, opens a new branch in Pampanga. He believes that we all deserve pampering and healing in order to recharge, reenergize and relax after a stressful,fast-paced everyday life. The spa uses oils which are anti-oxidant and immunity boosters. Joining his advocacy driven business is his wife Maan Miranda Valiente, Director for Marketing and Operations, Avelina "Babes" Miranda, Consultant, Guest of Honor Marilene C. Acosta, a Health and Wellness Advocate

OKYO—Everyone loves a winner. And in Japan right now, that has moved rugby from the sidelines into the mainstream. “In many ways, Japan’s victory over Scotland was for a nation, not just rugby,” World Rugby Chairman Bill Beaumont said of Japan’s progress into the World Cup quarterfinals at the end of a weekend when a destructive typhoon hit the tournament’s host country and left dozens dead. The first Rugby World Cup staged in Asia is being hailed as a success even before kickoff in the knockout rounds. The tournament is three weekends down, and three to go. “Never has a nation been so unified behind a [Rugby World Cup] tournament and never have we seen so many people greeting the teams at training sessions, hotels and public events,” Beaumont said as he reviewed the 40-game group stage that began with Japan beating Russia in Tokyo on September 20. World Rugby said more than 1.8 million tickets had been sold across all 48 matches, with another 864,000 fans attending dedicated fan zones set up in the major cities. Broadcast figures have also surpassed expectations with a live peak television audience in Japan of an estimated 50 million tuning in to local Japanese network NHK’s broadcast of the hosts thrilling 28-21 victory over Scotland at Yokohama to secure Japan’s first-ever quarterfinal place last Sunday night. Typhoon Hagibis made landfall on Saturday and left devastation in parts of the country, and forced the first-ever cancellation of games—two on Saturday, and one on Sunday—at rugby’s showpiece event. “Our thoughts and deepest sympathies continue to be with those who have been affected by Typhoon Hagibis,” Beaumont said. “We stand shoulder to shoulder with Japan. “We owe a huge debt of gratitude to our friends in the Japan 2019 organizing committee, in the host cities, match venues and the brilliant staff and volunteers working in the most difficult circumstances to make Sunday’s matches happen for the teams and our remarkable fans, who have shown such understanding.” Despite the best efforts of local organizers to prepare the stadiums in the aftermath of the typhoon, the match between Canada and Namibia in the city of Kamaishi was canceled at 6 a.m. local time on Sunday. Encapsulating the spirit of the tournament and providing perhaps one of its most enduring images was the sight of both teams helping the local community with the cleanup effort. The Canadian players and support staff swept and shoveled debris on a day when they’d been expecting to finish off their tournament, hoping to give something back to the people who’d been hosting them along the way. Baseball, soccer and sumo are sports that have the biggest following in Japan, although rugby has a long history in the country, a healthy domestic competition and seemingly a growing popularity. “The Japanese people are the heartbeat of the tournament and have welcomed the teams and fans with open arms,” Beaumont said in a statement. “From full and vibrant stadiums and fan zones, to record social media, the fans, teams and the people of Japan have shared truly unforgettable moments of friendship, celebration and hospitality.”

FOR A COUNTRY, NOT JUST RUGBY Sports BusinessMirror

| Wednesday, October 16, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

SPRINGBOK’S ‘SCARIER’ CHALLENGE

TWO weeks ago, Springboks Coach Rassie Erasmus described it as a “scary” prospect. It got a whole lot scarier this week. South Africa is now in Japan’s way at the Rugby World Cup and the two-time champion will have to be at its strongest and at its sharpest to avoid becoming another one swept aside by an exhilarated home team and host nation in the quarterfinals this weekend. Rankings mean nothing. Ask Ireland, rugby’s top-ranked team coming into the World Cup and then run off its feet by Japan in a shocking upset in Shizuoka. Previous records mean zero, too. Ask Scotland, which had beaten Japan in seven out of seven previous tests and

led the Japanese early in the last game of the pool-stage before having the carpet yanked out from under their feet in Yokohama on Sunday. Japan is in the quarterfinals for the first time and the scene may never be better set for such an outsider to threaten the Rugby World Cup final. Beat South Africa, as Japan has done before at the World Cup, and then it’s Wales or France for a place in the final. Seems outlandish,

but tell Japan that after all that’s happened. If the Springboks and Erasmus didn’t see it coming, it’s not because they haven’t been warned. They were asked countless times through their pool-stage games what they thought of the possibility of playing Japan in the quarters. For the most part, they answered in typically cautious fashion: It’s not decided. It could still be Ireland or Scotland. We

haven’t thought that far ahead. The one moment Erasmus did let his guard down was on the day Japan upset Ireland. The Springboks were playing Namibia in Toyota City and Erasmus was late for his team’s on-field warm-up. He was watching Japan versus Ireland on TV somewhere in the stadium and he couldn’t take his eyes off it. It was then that Erasmus conceded playing Japan

JAPANESE fans are ecstatic over their team’s win over Scotland as Canada’s players and support staff sweep and shovel debris on a day when they’d been expecting to finish off their tournament, hoping to give something back to the people who’d been hosting them along the way. AP Simone Biles shows the five gold medals she won at the Gymnastics World Championships in Stuttgart, Germany. AP

was “a realistic option. And also a scary option.” The Springboks have two memories of Japan in test rugby and they couldn’t be further apart. There’s the so-called Miracle of Brighton, when the Japanese left rugby flabbergasted by beating the Springboks at the 2015 World Cup. But what of the most recent meeting? Three weeks before Japan stunned the World Cup again to beat Ireland, it played South Africa in a World Cup warm-up game in Kumagaya. The Springboks won 41-7 and the Japanese seemed meek. They were nothing like the ferocious, nonstop force they were against Ireland and Scotland. Erasmus said the idea behind the warm-up game was to “erase the Brighton game” in case the were another meeting in the playoffs, and “that game hopefully doesn’t get mentioned again.” Of course, he knows that’s not going to happen. The upset of ‘15 will be mentioned frequently for at least another week. Also, there’s the chance the Japan squad intentionally played within themselves in Kumagaya, so as not to give everyone an early warning of their threat. Or could have been leg-sore from heavy conditioning in training, all designed for fitness to peak in the World Cup. “Only time will tell. I must say that in that warm-up game, there was no pressure,” Erasmus said. “It was a warm-up game, and the way Japan have embraced the pressure, it’s really impressive. The way they have built and accepted the pressure, that will be something massive on Sunday, which will play a big role. “It will be interesting to see how both teams handle the pressure and expectations on both sides.” Veteran Springboks prop Tendai Mtawarira is looking at this Sunday’s game at Tokyo Stadium only in isolation. Asked if South Africa would like some revenge for the Brighton upset, Mtawarira consigned that game to the past. “This is an entirely new challenge. I am looking forward to it. It’s a big one,” he said. “The Japanese team have really been performing well and it’s going to be a big one. “They are unbeaten so far, and they have been great hosts. So, for us, it’s a massive, massive game.” Mtawarira said it was important for the Springboks to stick to their strengths, and not be goaded into taking on Japan at a frenetic pace. “We know the style of rugby we like to play, so the challenge is to not get sucked into their game. We must play our game,” he said. AP

Biles: Face of Tokyo 2020 Olympics S

TUTTGART, Germany—Next stop Tokyo for Simone Biles. With Usain Bolt and Michael Phelps both retired since the last Olympics in Rio de Janeiro, the US gymnast will be the face of the games for much of the world. In gymnastics, no one else comes close. Biles won five of the six gold medals at last week’s world championships and broke the all-time record of 25 medals by any gymnast, male or female. “She’s just above anything else that we have seen in the sport,” five-time Olympic gold medalist Nadia Comaneci said of Biles on Sunday, praising

“the domination that she has toward all the other gymnasts that competed here.” Biles has not just got the talent. She’s got the character of an Olympic star. There’s the laser-like focus on training, the same easygoing humor which endeared the world to Bolt, and—crucially in the modern era—a savvy social-media style. International Olympic Committee President Thomas Bach said Sunday that Biles’s star status would make gymnastics a must-see event at the Tokyo Olympics. “You can have legends confirming their status as we have just seen with Simone Biles, this amazing performance there on the beam, but you also have new stars,” he said. “Gymnastics has all the ingredients to be top another time, I must say.

A top Olympic event in Tokyo.” Despite its dispute with Biles over the scoring for her new double-double beam dismount—its grade was lessened in part so as not to encourage lessskilled gymnasts to attempt the risky move—the International Gymnastics Federation knows Biles is crucial to the sport. Labeling her “wonder woman” and “a hero,” FIG President Morinari Watanabe is keen for Biles not to retire after the Tokyo Olympics. “I hope she will continue after 2020, because she is an excellent athlete,” he said Sunday. Biles is certainly the only athlete who could pull off her look in training at the US nationals in August. She caused a stir with a leotard bearing her surname and a goat’s head picked out in sequins, a nod to “Greatest Of All Time.”

Few disagree, but Biles hasn’t yet won everyone over. “There’s no need to turn her into some unbeatable queen. If I was 15 years younger, I’d definitely take the fight to the American,” the Russian gymnast Svetlana Khorkina said in comments on the Russian Olympic Committee web site Thursday. Khorkina won 20 world championship medals between 1994 and 2001 and held the women’s record until Biles overtook her Tuesday. One record is likely to remain out of Biles’s reach, however. Soviet gymnast Larisa Latynina won a record 15 Olympic medals between 1956 and 1964. Biles won five Olympic medals in Rio de Janeiro, and could add six more next year in Tokyo, but appears highly unlikely to stick around until the 2024 Olympics. However, there’s another record to aim for. Matching her world championship performance from last week would make Biles the first female gymnast to win five gold medals at a single Olympics, and the first female athlete to do so in any sport since East German swimmer Kristin Otto in 1988. AP

Spo

Business

Wednesday, October 16, 2019

Top-ranked US NCAA golf coaches coming for Gold Series Golf Camp

ILIPINO junior golfers get a chance this December to showcase their game and talent and possibly get recruited to some of the best universities in the world. DreamBig Events is bringing world-class golf coaches for the first time in Asia through the Gold Series Golf Camp, headlined as The Road To US College Golf. The camp is open to golfers aged 12 to 18 years old and will be held at the Orchard Golf and Country Club on December 17 and 18. Coaches from topmost schools in the US NCAA Division 1—UCLA (University of California-Los Angeles), Columbia University and UC Berkeley—will run the two-day clinic while actively watching the young golfers participate in the two-day FCG Golf Tournament.

“This is an exceptional opportunity for young golfers to interact with world-class coaches and glimpse the future of how their game can evolve and take them to places they’ve never been before,” Akshay Maliwal, founder and CEO of DreamBig Events, said. DreamBig Events has been working with coaches from top NCAA Division 1 and Division 3 universities, such as Harvard, Yale, Princeton, Columbia, UC Berkeley, UCLA, University of Pennsylvania, Brown, New York University, Tufts and Carnegie Mellon University, Claremont-Mckenna and Johns Hopkins University, among others, for the last three years. Interested participants may register now at https://dreambig.events/gold-series-golfcamp/#DreamBig.

Filipino tennis bets stun Thais

HE Philippines kicked off its campaign in the 2019 Colorful Yunnan Belt And Road Initiative Kunming International Tennis Tournament with a 3-2 upset of Thailand on Monday at the Gloria Hotspring Resort Tennis Center in Kunming, China. Shaira Hope Rivera and Gab Tiamson displayed nerves of steel to upset C. Sooktoneng and V. Wongteanchai, 5-3, 2-4, 4-1 in the deciding match in the Group A round-robin format. Rivera and partner Clarice Patrimonio turned back D. Wongteanchai and R. Manatawewat, 4-1, 4-2 to level the tie at 2-all en route to the inspiring win. Marian Capadocia downed D. Tumthong, 4-2,

5-4 (4), to put the Philippines back into the match after Gab Tiamson and Aidyll Ignacio bowed to K. Koaykul and C. Rakpuangchon, 1-4, 0-4, and Marcen Gonzales surrendered to C. Sookton-eng, 1-4, 2-4. Philippine Tennis Association President Atty. Antonio Cablitas witnessed the heart-warming victory including the Philippines juniors’ 3-0 first-round win over Brunei Darussalam. The national team under Coach Chris Cuarto takes on top seed Kunming China next, while the juniors squad handled by Davis Alano will next face Myanmar in the 11-nation tournament.

FIERCE DUEL UP IN C.A.T. OPEN P

remium will be on precision and shotmaking as the men of the Philippine Golf Tour Asia (PGTA) tackle the tight and challenging Luisita Golf and Country Club in pursuit of the crown in the $100,000 Central Azucarera de Tarlac Open which gets going on Wednesday in Tarlac. Streaking Tony Lascuña shoots for a fourth straight championship, James Ryan Lam seeks to defend his maiden crown he won in emphatic fashion last year and the rest of the 129-player strong cast are all-geared up for a crack at the championship in this sixth leg of the third season of the region’s emerging circuit put up by the International Container Terminal Services Inc. (ICTSI). They include 36 Taiwanese of the PGA of Taiwan making their first foray on the local turf, all eyeing no less than a victory and redemption after absorbing a beating from Lascuña in the last PGTA event in Taiwan last month. “It’s going to be tough. It’s a different field and the course is tough,” said Lascuña, who rode on that inspiring Taiwan victory and swept the next two PGT events in Apo and South Pacific, both in Davao the last two weeks. “So, it will be anybody’s game,” he added. It sure will with the quaint layout to provide a true test of golf given its rugged terrains and rolling fairways that put severe options on accuracy, and unsettling hazards

that guard 11 of its greens. “I don’t really know how I could defend it [crown] but for sure, I’ll do my best. Unlike last year, I’m going to play a conservative game, especially in the first two rounds,” said Lam, who played aggressive in the first two days but changed tactics in the third round to put himself in the mix then closed out with a 67 to beat American Josh Salah by four and end a nine-year wait for a championship. But the Robert Trent Jones Sr.-designed layout could also yield low scores to the long hitters provided they complement their power with superb iron play and putting needed on a course where the wind could alter the character of the holes in an instant. Most, if not all, in the stellar international field, however, are coming in brimming with confidence and in top form following a series of tournaments with Jhonnel Ababa hoping to stretch his record win in the PGTA to five and the likes of reigning Philippine Open champion Clyde Mondilla and former PGTA leg winners Jay Bayron, Joenard Rates and reigning PGT Order of Merit titlist Jobim Carlos out to check and end their respective slumps. Aussies David Gleeson and Damien Jordan, also both former PGTA leg winners, are also in the fold along with other foreign aces, including recent Aboitiz Invitianal champion Tarik Can of the US, and regular PGT and PGTA campaigners Lexus Keoninh, Brett Munson, George Twyman, Micah Shin, Greg Gonzalez and Charles Lee of the US, Aussie Tim Stewart, and Thais Pachara Sakulyong, Ratchapol Jantavara, Donlaphatchai Niyomchoi and Tawan Phongphun, Dutch Guido van der Valk and Salah. Other locals tipped to contend for the $17,500 prize are Ira Alido, Michael Bibat, Keany Jahns, Reymon Jaraula and Justin Quiban, winner of this event in 2017.

Streaking Tony Lascuña shoots for a fourth straight championship. AP

orts

sMirror

Wednesday, October 16, 2019 C3

Petron downs Foton, snatches PSL finals berth

WELCOME HOME, CHAMP! Nesthy Petecio comes home on Tuesday afternoon beaming with her featherweight gold medal from the 2019

International Boxing Association Women’s World Boxing Championships in Ulan-Ude, Russia. Gymnastics world champion Carlos Yulo also arrived later on Tuesday. NONILON REYES

MAPUA’S Joaqui Garcia goes for a steal against University of Perpetual Help System Dalta’s Jielo Razon. NONOY LACZA

AN Sebastian College edged Arellano University Chiefs, 85-82, on Tuesday to move a win away from securing a Final Four spot in the National Collegiate Athletic Association Season 95 seniors basketball tournament at the Filoil Flying V Centre in San Juan. The veterans stepped up with RK Ilagan scoring 20 points and hauling down six rebounds and Allyn Bulanadi pouring in 19 points, eight rebounds and six assists for the Stags who nailed their 10th win against seven loses. Mapua, meanwhile, carved

arlos Yulo is bringing his world champion act to the 30th Southeast Asian Games with a lofty goal: sweep all seven men’s gold medals at stake. Gymnastics Association of the Philippines Secretary-General Bettina Pou said Yulo is inspired to dominate the SEA Games following his floor exercise gold medal for the Philippines’s first ever in the FIG Artistic Gymnastics World Championships in Stuttgart, Germany. With the Philippine Sports Commission (PSC) throwing its full support, Yulo’s goal looked more attainable. “The government will go all out in supporting Caloy [Yulo] and other deserving athletes as they prepare for the SEA Games and the Olympics next year,” said Ramirez, also the chef de mission of Team Philippines in the biennial regional Games set from November 30 to December 11. “The PSC has been supporting the training of Caloy in Japan for the past two years. We’re planning to further increase that level of support because we believe that he has what it takes to make us proud in the SEA Games and the Olympics next year,” Ramirez added. Yulo and boxer Nesthy Petecio made the

country proud by winning gold medals in their respective sport’s world championships. A day after Yulo’s victory in Germany, Petecio won the featherweight gold medal in the International Boxing Association (AIBA) Women’s Boxing World Championships in Ulan-Ude, Russia, on Sunday. Both champions arrived home to a heroes’ welcome on Tuesday. The gold medals were worth P1 million in cash incentives for each of the world champions. Yulo, however, got an extra P.5 million for qualifying for the Tokyo 2020 Olympics. Petecio, on the other hand, did not get an automatic slot for Tokyo 2020. The AIBA is suspended by the International Olympic Committee, which set Olympic qualifiers next year. The 30th SEA Games would be the first for

Championships in Stuttgart, Germany, last Saturday, for the Philippines’s first-ever gymnastics mint on the global stage. Last year, Yulo clinched a bronze medal in Doha to kick off a career potential of an Olympic gold. Ramirez also looked optimistic about more Filipino athletes qualifying for Tokyo 2020. “If we come up with 20 qualified candidates, I think that will be one of the biggest Philippine delegations to the Olympics,” Ramirez said. Besides the 19-year-old Yulo, pole vaulter

Yulo, Petecio make Olympic gold suddenly reachable Al Mendoza | alsol47@yahoo.com

THAT’S ALL THE Olympic gold is finally reachable? Not that elusive anymore? There for the picking? That, seemingly, is the strong message delivered by the gold medals captured recently by Carlos Yulo and Nesthy Petecio. Yulo made headlines for his twin feats of winning the gold in the floor exercise of the just-ended 41st FIG Artistic Gymnastics World Championship, in the process of becoming the first Filipino to become a world gymnast champion. Petecio quickly followed up Yulo’s gleaming achievements by punching her way to the top in the World Boxing Championships, the terrific tandem transforming, in effect, October as the Philippines’s most fruitful month this year insofar as harvesting gold in sports is concerned. Yulo accomplished his improbable victory in Stuttgart, Germany, where 80-plus countries were in attendance, unleashing his enormous talent, honed by a Japanese coach in their modest training camp in Tokyo, before a mesmerized audience too sharp not to discern

an 85-81 win over University of Perpetual Help System Dalta to stay in contention for the last semifinals slot. The win—their ninth in 17 games—put the Cardinals within striking distance of the Stags in the race for the Final Four where defending champion San Beda (17-0), Lyceum of the Philippines University (13-4) and Letran (11-6) are already safely perched. The Stags need to beat the Altas on Friday to seal the Final Four cast. If they lose, the Cardinals get a slim chance of forcing a playoff for the fourth semifinals berth if they defeat the College of Saint Benilde Blazers on the same day. The Blazers bombed out of contention following the Cardinals’ victory.

The Stags had to dig deep against the Altas, who kept the game close most of the way. Ilagan and Bulanadi conspired starting in the last six-and-a-half minutes to give the Altas a 78-70 cushion. The Chief’s Kent Salado sank clutch triples but the Stags held on for the win. The tough game took a toll on Chief’s Justin Arana, who landed awkwardly in the third quarter and never returned to the game. The Stags’ Alvin Capobres also sprained his ankle after a collision with Art Oliva in the same period. “The problem is I have limited players and some has injuries,” Stags Coach Egay Macaraya said. “The playoff will still be tough for us.” Ryniel Berlanga

YULO EYES SEAG SWEEP the 19-year-old Yulo. He donned the national colors in the Doha World Championships where he clinched a bronze medal and the 18th Asian Games in Jakarta last year. Pou said there is no doubt that Yulo would dominate in his SEA Games debut. “His performance in the world championships was very impressive. If luck rolls his way, he can win all seven gold medals in the SEA Games,” said Pou, the trusted deputy of GAP President Cynthia Carrion. Pou said he expects Yulo to work harder on the pommel horse and parallel bars, apparatuses that hurt his bid for a medal in the all-around category at the world championships. “The Vietnamese perform well in those apparatuses. We don’t want to give them a chance,” Pou said.

Ramirez confident of PHL’s 1st Olympic gold bid HE world championships gold medalclinching performances of gymnast Carlos Yulo and boxer Nesthy Petecio has prompted Philippine Sports Commission (PSC) Chairman William Ramirez to think big for the Tokyo 2020 Olympics. Ramirez made a bold prediction of a Filipino athlete finally winning the country’s first Olympic gold medal. And his top pick is Yulo, who topped the men’s floor exercise gold medal at the 49th FIG Artistic Gymnastics World

STAGS ON COURSE TO NCAA FINAL 4

between a fluke and a flop in the sport. Petecio crafted her heroism in faraway Ulan-Ude, Russia, where she heroically humbled hometown bet Liudmila Vorontsove in a dramatic 3-2 squeaker that stunned more than silenced the rabidly partisan crowd. Fittingly, Yulo of Pasay City, who turned 19 on February 16, and Petecio, the 27-year-old from Santa Cruz, Davao del Sur, were rewarded P1 million each by the Philippine Sports Commission (PSC), the government agency tasked to look after the financial needs of our athletes. “This is our way of recognizing the exceptional exploits of Filipinos who give honor to our country through sports,” said PSC Chairman Butch Ramirez. Before the PSC’s bonanza of incentives came were the long-standing financial backing of MVP (Manny V. Pangilinan) for our boxers and gymnasts, not to mention the national quintet. This proves once more that a governmentprivate partnership in sports will produce a happy result more often than not, not necessarily

Ernest John Obiena already earned a ticket to Tokyo 2020. Potential Tokyo qualifiers include Rio de Janeiro Olympic weightlifting silver medalist Hidilyn Diaz, boxer Eumir Felix Marcial, and Indonesia Asian Games skateboarding gold medalist Margielyn Didala and judo silver medalist Filipino-Japanese Kiyomi Watanabe. The Philippines has won 10 Olympic medals, three of them silver from Diaz and boxers Mansueto “Onyok” Velasco (Atlanta 1996) and Anthony Villanueva (Japan 1964). immediately, but definitely in the near future. And so, again, with the indescribable joy brought by Yulo and Petecio, can we finally snare the much-desired Olympic gold in the 2020 Tokyo Olympics? And look at this: Not only are the duo the only capable gold prospects in Tokyo. Pole vaulter EJ Obiena, skateboarder Margielyn Didal and, yes, weightlifter Hidilyn Diaz are also strong contenders to end our gold drought in the Olympiad. But while so much is expected of Yulo and Petecio in Tokyo next year, there is the first mission for them to accomplish before we could really move forward with confidence: Win in the Manila SEA Games in November and December. While the regional meet is virtually a barangay-level event when ranged against the Olympics, it is almost a must for Yulo and Petecio—not to mention Obiena, Didal and Diaz—to win their events with ease in the coming SEA Games. And this is not to say I’m exerting extra pressure on them, but merely to stress the obvious. THAT’S IT While many were shocked a bit, San Miguel Beer’s Christian Standhardinger being shipped to Northport for Moala Tautuaa was almost expected. Standhardinger could not seem to fit in into Coach Leo Austria’s brand of coaching of virtual role-playing practiced to the hilt. Seemingly, Tautuaa’s ruggedly power- and brutal-laden game in both the perimeter and middle areas seems tailormade for Austria’s style. Let’s see.

etron displayed its championship form to make quick work of Foton, 25-17, 25-14, 25-16, and barge into the championship round of the Philippine Superliga Invitational Conference on Tuesday at the Malolos City Sports and Convention Center in Bulacan. Sisi Rondina was at her best, leading the high-powered Blaze Spikers to an impressive victory in 79 minutes to formally barge into the best-of-three finals. Rondina, the reigning University Athletic Association of the Philippines Most Valuable Player, delivered 17 points and 13 digs for the Blaze Spikers, who made their way back to the finals after suffering a semifinal meltdown in the previous AllFilipino Conference. Frances Molina and Chloe Cortez were also instrumental with 12 and 10 points, respectively, to keep the Blaze Spikers unbeaten in seven matches—including a sweep of the eliminations. With the win, Petron will be facing the survivor of the F2 Logistics-Cignal in the sudden-death semifinals showdown on Thursday at the Ynares Sports Arena in Pasig City. Foton, on the other hand, will take on the loser of the other semifinal battle in a onegame bronze medal match also on Thursday. “It feels so good to be back in the Finals. We missed this feeling,” said Petron Head Coach Shaq de los Santos, adding that the Invitationals is the only jewel missing in their collection. “We will grab this opportunity even we only have one day to prepare.”

Sports BusinessMirror

| Wednesday, October 16, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao Federer

KING JAMES: THINK BEFORE YOU CLICK L

Federer eyes 5th Olympics

OKYO—Roger Federer wants to become a five-time Olympian. Already the most successful male tennis player in terms of Grand Slam singles titles, Federer wants to add another piece of hardware to his impressive collection. If he’s healthy. “My heart decided I would love to play at the Olympic Games again,” Federer said Monday during an exhibition event in Tokyo. He made his Olympic debut for Switzerland in 2000 at Sydney, where he met his wife, Mirka, and finished fourth in singles. He competed at Athens in 2004 before combining with Stan Wawrinka to win the Olympic gold medal in doubles at Beijing, in 2008. Federer finished with silver in the singles after losing to Andy Murray at Wimbledon in the final of the 2012 London Games, and he missed the 2016 Olympics in Rio de Janeiro because of injury.

“If I am healthy I am coming. Absolutely,” the 38-year-old Federer said. “I have been thinking about it for weeks now, just trying to figure the schedule more than anything, with my four children and my wife. Figuring out the US Open, what do with the clay [Roland Garros], what to do with the grass [Wimbledon] and just how that all lines up.” The 20-time major winner said he was disappointed to skip the Rio Olympics because of a knee injury that sidelined him for the rest of the year at Wimbledon, in 2016. “Every Olympic Games has been very, very special to me,” he said, adding that he figured he may as well make the announcement “while I was actually in the city where the Olympics will take place.” “I just figured it was an organic place to do that,” he said, “so I am very happy to announce it here.” AP

Nationals a win shy of World Series

ASHINGTON—More than 100 pitches in, Stephen Strasburg was adamant he wasn’t quite ready to leave the latest superb start by a Nationals pitcher against the St. Louis Cardinals in the National League Championship Series (NLCS)—a win that put Washington on the verge of the city’s first World Series in 86 years. It was the seventh inning, and Manager Dave

Martinez noticed Strasburg had flexed his right leg and reached for that hamstring. So the skipper and a trainer went to the mound to check on their guy. “I was trying to explain to him, ‘Hey, you just grabbed your hamstring, so there’s a little concern,’” Martinez recalled. “He said, ‘No, I cramped up. It’s fine. I always cramp up.’ He said, ‘I’m staying in the game.

By Greg Beacham The Associated Press

OS ANGELES—LeBron James believes Houston Rockets General Manager Daryl Morey “was either misinformed or not really educated on the situation” regarding the potential consequences of his actions when he tweeted in support of Hong Kong’s pro-democracy protests. In his first public comments since the Los Angeles Lakers returned home from a strange weeklong tour of China immediately after Morey’s incendiary tweet , James’s lengthy answer to a question about whether Morey should be punished for his tweet didn’t appear to specifically address the merits of Morey’s support of Hong Kong sovereignty. The Lakers superstar instead characterized the international incident caused by Morey’s tweet as a cautionary tale about the power of social media. “Yes, we do have freedom of speech,” James said. “But at times, there are ramifications for the negative that can happen when you’re not thinking about others, when you only think about yourself. I don’t want to get into a word or sentence feud with Daryl Morey, but I believe he wasn’t educated on the situation at hand, and he spoke. So many people could have been harmed, not only financially but physically, emotionally, spiritually. So just be careful what we tweet and what we say, and what we do. Even though yes, we do have freedom of speech, it can be a lot of negative that comes with it.” When asked to clarify his thoughts, James went further. “I believe [Morey] was either misinformed or not really educated on the situation, and if he was, then so be it,” James said. “But I have no idea. That’s just my belief. When you say things or do things, you’re doing it and you know the people that can be affected by it, and the families and the individuals and everyone that can be affected by it. Sometimes things can be challenging, I want to finish this inning.’ I said, ‘You sure you’re all right?’ He said, ‘I’m in the game!’” The right-hander did, indeed, stay in. Even struck out the next two batters to raise his total to 12 Ks, each finished with an off-speed pitch. Strasburg took his turn silencing the Cardinals’ struggling bats, Nationals postseason star Howie Kendrick doubled three times and

as well. Also sometimes, social media is not always the proper way to go about things, as well. But that’s just my belief.” A Rockets spokesman didn’t immediately respond to request for comment Monday night on James’s remarks. James’s comments set off swift reaction on social media, with many listeners perceiving his comments as criticism of the democracy movement in Hong Kong. James addressed the issue again in two tweets before the Lakers’ preseason game against Golden State at Staples Center. “Let me clear up the confusion,” James tweeted. “I do not believe there was any consideration for the consequences and ramifications of the tweet. I’m not discussing the substance. Others can talk about that.... My team and this league just went through a difficult week. I think people need to understand what a tweet or statement can do to others. And I believe nobody stopped and considered what would happen. Could have waited a week to send it.” James didn’t play, but watched from the bench when the Lakers hosted the Warriors on Monday night, just two days after they returned home from their bizarre trip to China. A typical National Basketball Association (NBA) preseason promotional swing through Shanghai and Shenzhen became something else when Morey tweeted in support of the Hong Kong protesters while the Lakers were in the air on their 13hour flight to China. The Lakers landed amid outrage in China with Morey’s sincedeleted tweet, and the NBA in general. The league and Chinese authorities decided to hold no media availability or community events with the Lakers or the Brooklyn Nets, their opponents. The Lakers passed their week in China in public silence. Although the exhibition games weren’t canceled, the league claimed it would be unfair to ask players and coaches to speak on the delicate geopolitical argument in which they found themselves drove in three more runs, and Washington took a 3-0 lead in the best-of-seven NLCS by beating St. Louis, 8-1, on Monday night. “It’s a little surreal,” reliever Sean Doolittle said about being one win from the World Series, “and I think that’s why it’s important that we don’t look too far ahead.” AP

involuntarily enmeshed. So the players spent most of the week in hotels or on the court, with two NBA Cares events, a fan event and other public appearances all canceled by the league or the government. Several companies and state-run offices reportedly severed their ties with the NBA over Morey’s tweet and the league’s response to it. The Lakers and Nets also met with NBA Commissioner Adam Silver. James said he was happy with Silver’s handling of the controversy, which led to criticism of the commissioner from supporters on both sides of the Hong Kong movement. “It was a tough situation for Adam as well, to put out a fire that he didn’t start,” James said. When asked about his thoughts on the political side of the events in China, James echoed Warriors Coach Steve Kerr’s belief that he didn’t know enough to comment on the situation.

LEBRON JAMES: Rockets’ Daryl Morey “wasn’t educated” on China tweet. AP

Merciful God

EAR God, You call us by name and entrust us to proclaim Your Gospel to the poor. In trust we pray: Grant us the grace to do Your will, oh God. Endow the shepherds of Your flock with honesty, humility and love for those whom they serve. Instill in our elected servant leaders a desire to work tirelessly and endlessly for the common good, and use their authority to promote justice for the poor, as well as to the rich who will continue to be generous to the needy. Strengthen us to persevere in times of darkness and to give of ourselves in joyful service for the Gospel. May the eyes of God be upon us, the peace of Christ be within us, and the power of the Holy Spirit be with us always. 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

Apple has a lot to lose if it crosses China’s party bosses A PERSON’S phone shows HKmap.live apps as they join others at a rally to mark Taiwan’s National Day, in the Tsim Sha Tsui district in Hong Kong on Thursday. AP

BY JOHN LEICESTER, JOE MCDONALD & MATT O’BRIEN The Associated Press

ONG KONG—Under pressure from China, Apple has removed a smartphone app that enabled Hong Kong protesters to track police. It has cut off access in mainland China to a news app that extensively covered the anti-government demonstrations. And it has made it harder to find an emoji representing the Taiwanese national flag. The tech company’s latest acts of capitulation to China’s ruling Communist Party have alienated some Hong Kong consumers and angered democracy activists around the world. But the truth is, few US companies have as much of their business tethered to China as Apple. “That’s the price you pay if you want to be in the market,” said Matt Schrader, a China analyst for the Alliance for Securing Democracy at the German Marshall Fund. “You have to abide by demands to censor information: anything that paints the party or its history, or its top leaders, in an unflattering light, or disagrees with their preferred portrayal of China as a country.” Apple relies on Chinese factories to assemble iPhones, which generate most of the company’s profits. Apple has also cultivated a loyal following in the country. China has emerged as the company’s third-largest market behind the US and Europe, accounting for 20 percent of its sales during its past fiscal year. President Donald J. Trump’s trade war with China has already complicated things for Apple, raising fears that Beijing will impose measures to hurt Apple in retaliation for US tariffs on Chinese products and sanctions against Huawei, the Chinese telecommunications equipment giant. Apple CEO Tim Cook has spent much of the past year walking a thin line, trying to prod a truce between the US and China while also trying to protect his company’s interests. His efforts so far have largely paid off, helping to shield the iPhone from being hit by tariffs in either the US or China. But that could change in mid-December, when the Trump administration has promised to expand import duties on more consumer electronics. With the specter of those tariffs, Apple has even more of an incentive to placate China’s government and avoid provoking Beijing. In a worst-case scenario, analysts have estimated retaliatory action from China could cut Apple’s profit 10 percent to 20 percent. That would translate into a loss of $6 billion to $12 billion in a single year, based on Apple’s profits last year. Apple defended its decision Thursday to pull the police-tracking HKmap.live from its online app store. For some people in Hong Kong, the app was a handy tool that helped steer them away from possible baton charges, volleys of tear gas and police ID checks. But the company said the app “has been used

to target and ambush police” and “threaten public safety.” “Criminals have used it to victimize residents in areas where they know there is no law enforcement,” Apple said. “This app violates our guidelines and local laws.” Thursday’s move followed pressure from various channels, including the Communist Party newspaper People’s Daily, which asked: “Is Apple guiding Hong Kong thugs?” Hong Kong’s crisis has put pressure on those doing business with China to take sides. The protests were triggered by a now-abandoned government plan to allow criminal suspects to be extradited for trial in Communist Party-controlled courts in mainland China. It has escalated into a broader battle over Beijing’s efforts to curb the Western-style civil liberties and autonomy promised to the former British colony when it returned to China in 1997. Beijing’s criticism of Apple followed government attacks last weekend on the NBA over a tweet by the general manager of the Houston Rockets in support of the protesters. China’s state TV canceled broadcasts of NBA games. One of the police-tracking app’s users, Hong Kong office worker Acko Wong, 26, scoffed at the suggestion that the app helped give free rein to criminals.

JENNIFER ANISTON, MARIAH CAREY HONORED AT WOMEN’S EVENT D3

Wednesday, October 16, 2019

HONOR BAND 5 NOW IN PHL WIRELESS communication brand Honor Mobile (www.hihonor.com/ph) has launched their latest hightechnology smartphone accessory: the Honor Band 5. Packed with high technology and immersive features all displayed on a large 0.95” full AMOLED touchscreen, the stylish armband makes it possible for on-the-go Filipinos to be more powerful and in control of their day-to-day personal, fitness, travel and health goals. The impressive monitoring features of the Honor Band 5 makes it the ideal partner for those who lead a healthy lifestyle. Equipped with a high-level fitness tracker that includes heart rate, workout time, distance, speed, and oxygen level, it can even track calorie intake, just to name a few, to ensure a better exercise experience. Honor Band 5’s health tracker comes equipped with cutting-edge TruSeen 3.0 heart rate monitor which ensures a nondisruptive 24-hour real-time heart rate monitoring even at night. It also features a smart sleep quality tracker which accurately identifies common sleeping problems along with personalized assessments and suggestions for sound sleep experience. Adventurers will have worry-free road and sea experience with its water-resistant feature of up to 50mm deep and long battery life which lasts up to 20 days on a single charge. The 0.95-inch full color AMOLED touchscreen helps in maximizing the wearable’s power efficiency, and allows it to enhance overall user experience. For a customizable user interface, the Honor Band 5 display up to 45 characters with a clear and natural interface that has eyecatching designs. Users can also rely on the Honor Band 5 for a seamless hands-free experience, as it has intuitive functions to conveniently display call notifications, message content, reminders and useful phonefinder features. It has remote for picture-taking to effortlessly capture countless selfies and group photos. Music lovers will have an even better and easier sound experience with its music control features.

“How do you ambush a group of police with equipment, and gear like helmets and shields?” he asked. Sharing the skepticism were US politicians like Sen. Josh Hawley, a Missouri Republican who tweeted criticism of the company Thursday: “Who is really running Apple? Tim Cook or Beijing?” Apple didn’t reply to e-mailed requests to explain other recent measures criticized as caving in to China. The company cut off mainland access to the news web site Quartz, which has covered the Hong Kong protests. CEO Zach Seward denounced “this kind of government censorship of the Internet.” The news app was still available in Hong Kong. Apple also recently removed an emoji representing the Taiwanese flag—which China doesn’t recognize— from the virtual keyboard of its smartphone operating system in Hong Kong and Macau. The emoji could still be found if users searched for it. The latest moves are on top of Beijing’s previous demands that Apple remove virtual private network apps from its online store in China. China has sought to tighten control over VPNs, which create encrypted links between computers and can be used to see blocked web sites that the government has deemed subversive. ■

Fitbit launches Versa 2, Fitbit Premium BY RIZAL RAOUL S. REYES FITBIT recently introduced the Fitbit Versa 2 and Fitbit Premium, expanding the family of its best-selling smartwatch, Fitbit Versa. Moreover, the company also announced the launch of Fitbit Premium, a paid subscription service in the Fitbit app that uses a user’s data to deliver the company’s most personalized experience yet, with actionable guidance and coaching to help a user achieve their health and fitness goals. The company said the innovative sleep features like Sleep Score and Smart Wake will help improve a user’s sleep as an important component of overall health, Versa 2 is equipped with a swim-proof design, on-device microphone, and brings more convenience to users with Spotify expanding music options for motivation.

The next-generation Fitbit Versa 2 is now available in the country with a price P12,890 in leading local retailers like Digital Walker and the Fitbit Official Store on Lazada. Coupled with even faster performance, thousands of apps and clock faces, and a brighter, crisper display with an optional alwayson mode, Versa 2 is the 24/7 health and wellness companion—now with six-plus days battery life at the same approachable price as Versa. Fitbit’s latest sleep features allows users to not only better understand their sleep, but also to improve it by using Sleep Score, which provides a nightly score for better insight into a user’s sleep quality. The user’s score is based on heart rate (sleeping and resting), restlessness, and time awake and sleep stages. Fitbit said it will also introduce later on Smart Wake to notify a user during an optimal time of your sleep cycle while in light or REM sleep, based on a pre-

selected 30-minute interval, so you wake up feeling more refreshed. It will also introduce a Sleep Mode function that disables the screen display and silences notifications for a night free of disturbances. The mode can also be used anytime a user does not want to be interrupted, like during a workout or in a meeting. Fitbit will also launch the estimated Oxygen Variation Graph. The graph will provide users with an estimate of the variability of oxygen levels in their bloodstream. The data is derived from a combination of the red and infrared sensors on the back of a user’s device. Being aware of short-term variations in the oxygen levels in your bloodstream may indicate variations in a user’s breathing during sleep. Meanwhile, the Versa 2 Special Edition will be available for P14,590 in navy and pink with a copper rose aluminum case and smoke with a mist gray case.

Wednesday, October 16, 2019

Pet Corner BusinessMirror

Don’t let your vet bill dog you forever Veterinary medical application student senior Caroline Crawford, 17, checks the capillary refill time on a dog during a clinic at the Tyler Independent School District Career and Technology Center in Tyler, Texas. When pets get sick, expenses can pile up quickly. If you encounter a sky-high vet bill, have a plan for dealing with it while keeping debt under control. AP

Today’s Horoscope By Eugenia Last

CELEBRITIES BORN ON THIS DAY: John Mayer, 42; Kellie Martin, 44; Tim Robbins, 61; Angela Lansbury, 94. Happy Birthday: Look beyond what’s changing around you or any past regrets you have hovering over you. Look forward with a positive attitude. You’ll develop a plan that will help you swing from negative to positive. Trust and believe in yourself, not what others say or do. Walk away from unrealistic ultimatums; you’ll discover a rewarding alternative. Your lucky numbers are 8, 12, 22, 29, 34, 37, 41.

By Melissa Lambarena The Associated Press

N a normal car ride, Grace, the brownwhite Chihuahua, might have been happily “singing” along in traffic with her owner, Ellen Ross. But this wasn’t a normal ride. Ross, author of the lifestyle blog Ask Away, was driving her nine-year-old dog to the veterinary specialist’s office in September 2016, after noticing that even the slightest touch to her neck would cause her to yelp in pain—and cause Ross’s heart to shatter. She wanted answers and agreed to an MRI. All told, the bill for diagnosis came to $6,500, which she decided to “figure out” later. “I was willing to do whatever it took,” Ross, 33, says. That included turning to emergency funds, a personal credit card and a financing offer via a second card offered at the specialist’s office. It also involved a crowdfunding campaign Ross started while sitting in the specialist’s parking lot. When pets get sick, expenses pile up quickly. If you encounter a sky-high vet bill, it’s important to have a plan for dealing with it while keeping debt under control. FINANCING OPTIONS AND DISCOUNTS PET insurance—or even an emergency fund like Ross had—can be helpful before issues arise. But not every pet or condition is eligible for coverage, and not every owner can afford to earmark savings for pet medical bills. And by the time you’re at the emergency clinic, it’s too late to consider insurance. But there are other resources. n Get a ZERO-percent introductory APR credit card. If your pet’s condition isn’t urgent and you have a good credit score (690 or higher), you may qualify for a card that can help you finance your vet bill at zeropercent interest over a long period. Some cards even offer a sign-up bonus that can defray a vet bill. Vet offices may also offer access to deferredinterest promotions; Ross used one for part of her bill. But unlike true zero-percent APR cards, these offers require you to pay off the entire balance within the promotional window, or you’ll incur interest for the full transaction retroactively. “These cards are considered a risk because any sort of setback that leaves you unable to pay off the full balance...is going to result in a big bill, when the whole point of the card was to pay less,” says Martin Lynch, director of education at Cambridge Credit Counseling. Ross notes she understood the terms and paid off that balance within the promo period. n Ask your vet for help. Some vets may be willing to work with clients on installment plans or offer inhouse financial assistance programs. “Here at my hospital, for example, we have a number of financial assistance programs all designated for different pets, different clients,

ARIES (March 21-April 19): Stay on course. Completion should be your target. There will be plenty of time after you take care of your responsibilities to revisit something you need more time to mull over. Don’t make a snap decision if you aren’t ready. HH

TAURUS (April 20-May 20): Get out and about. Visit old friends or sign up for a course that will ensure your qualifications are updated. Make a statement that will leave no doubt in anyone’s mind how you feel or what you expect. HHHHH

GEMINI (May 21-June 20): How well you get along with your peers will count. Be willing to compromise, as well as offer sound solutions. If a higher-up makes a last-minute change, do your best to work with the powers that be. HHH

CANCER (June 21-July 22): Your ideas will transcend into something you enjoy doing. Associate with people who share your opinions and are also interested in maintaining a similar lifestyle. A partnership will bolster your confidence and courage to forge into new territory. HHH

LEO (July 23-Aug. 22): You may not like the changes going on around you, but once you analyze the alternatives, you will realize that, if handled properly, you stand to gain. Compromise and self-control will pay off. HHH

VIRGO (Aug. 23-Sept. 22): Implement change that will make your life better. Whether it has to do with learning something new that will help you get ahead or making a physical change that will encourage better health, the plans you put in place look promising. HHHHH

different situations,” says Gary Block, a veterinarian in Rhode Island and spokesman for the Humane Society Veterinary Medical Association. n Look to nonprofits. The Humane Society’s web site lists resources that provide low-cost services or grants for veterinary services. Organizations may require tax forms, bank statements or pay stubs. n Consider an accredited veterinary school’s clinic. Vet school clinics can be more affordable, though finding one might require research. n Crowdfund. A couple of months after launching her “GoFundMe” campaign for Grace and sharing it on social media, Ross says she raised $5,327 to put toward the debt. She paid it off about two months later. MAKING THE RIGHT CHOICE FOR YOUR PET IT’S sometimes hard to align your heart and head when making medical decisions for a pet, Block says. He suggests considering the prognosis, likelihood

of the procedure’s success, present and future costs, long-term complications, financial circumstances, your pet’s age and their relationship to the household. “For me and most clients, the issue is whether short-term pain will potentially result in a long-term improvement in quality, and quantity of life,” Block says. “Adding days or weeks to a pet’s life without quality of life is not fair to the animal.” For Ross, it was worth the MRI cost to learn that Grace has intervertebral disc disease—the discs between her vertebrae press on the nerves running through her spinal cord and cause pain. Surgery was a risky, expensive option. A second opinion from Ross’s longtime vet led her to choose pain management. “Grace is doing a lot better because we just get her pain medication,” Ross says. “It only flares up twice a year.” Outside of those episodes, Grace lives for her walks, car rides and duets with Ross. n

LIBRA (Sept. 23-Oct. 22): Keep your emotions in check or you’ll end up in a vulnerable position. Stay on top of your responsibilities, and avoid interference and meddlers who are looking for someone to blame for shortcomings that have nothing to do with you. HH

SCORPIO (Oct. 23-Nov. 21): Put more time and effort into the way you look and how you treat others. The connections you make will offer information that will give you something to think about regarding how to move forward and in which direction. HHHH

SAGITTARIUS (Nov. 22-Dec. 21): Work diligently to make things better. What you do will far exceed talking about your point of view and what you would like to see happen. Take it upon yourself to get the ball rolling. HHH

CAPRICORN (Dec. 22-Jan. 19): Don’t shy away from change. What you have to offer is good enough to complete your plans and to reap the rewards you deserve. Don’t sit on the sidelines when you should be in the forefront. HHH

Akcupi seals partnership with BKCP THE Asian Kennel Club Union of the Philippines, Inc. (Akcupi, www.akcupi.com), has sealed its partnership with the newly organized Bully Kennel Club Philippines (BKCP) with the recent signing of the memorandum of agreement (MOA) at the Fisher Mall, Quezon City. The MOA signing, led by Akcupi President Lucianne “Penny” Cham and BKCP President Amadeo Habana Jr., was witnessed by Fe Lanny Alegado, Akcupi corporate secretary; and Baldwin Cheung, BKCP Treasurer. Under the MOA, Akcupi will be the only national registry in the Philippines to officially recognize and accept registration

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for the American Bully through the BKCP, which will check each applicant to validate that the dog being registered is a genuine American Bully. Furthermore, the partnership calls for the joint holding of regular dog shows that will demonstrate the best qualities of the breeds in a relaxed family-oriented ambiance, enlightenment of new dog owners about their responsibilities, and lifestyle change and financial burden of taking care of a dog during its entire lifetime. The American Bully, which is an excellent family companion, service and therapy dog, is a small-to-large companion breed that took its roots in the United States

between 1980 to 1990. It evolved through careful and selective breeding of the American Staffordshire Terrier, American Pit Bull Terrier and various bulldog breeds. Its conception was an offshoot of the plan to make it as family companion dog with the desired physical characteristics, such as mass, heavy bone, blocky head, short muzzle and wide fronts. Often mistaken for a Pit bull because it still carries its ancestry’s look, the American Bully is a totally different breed which was first recognized by the American Bully Kennel Club in 2004 and by the United Kennel Club in 2013.

AQUARIUS (Jan. 20-Feb. 18): Matters will get blown out of proportion easily if you are too quick to judge or point the finger at someone. Take a step back and let things unfold naturally. Time is on your side, and patience is encouraged. HHH

PISCES (Feb. 19-March 20): Get moving. You have lots to gain by speaking up and putting your plans in motion. Calling on others to pitch in and help will make things move along quickly and help you expand your interests further than you anticipate. HHHH Birthday Baby: You are tenacious, exuberant and intense. You are competitive and unpredictable.

‘a mighty wind’ by david alfred bywaters The Universal Crossword/Edited by David Steinberg

ACROSS 1 Mud bath venue 4 Backpack part 9 Buy things 13 Elephant ___ 14 Cape-waving combatant 15 Folded food 16 Judges at a Scottish food contest? (hint: the last letter was originally letter 5) 18 Pub array 19 Spacious car 20 Request for permission 21 Creative writing degs. 22 Retiring hairstylist’s final job? (...letter 1) 25 Faithfully following 28 Tinted 29 ___ packing (dismiss) 30 Sticks with flat blades 34 ___-Seltzer 37 In short order, for short 38 Adequate coat? (...letter 2) 40 Kind of code on an envelope 41 Patriotic march composer 43 Siamese, now

4 Preliminary software version 4 45 Alibis 47 Big name in small trains 49 Unload a slippery fish from a truck? (...letter 7) 54 Hawaiian party 55 High male voice 56 No longer too young 60 E.g., e.g. 61 Lawn machine used on 16-, 22-, 38and 49-Across 63 Major Egyptian water source 64 Made one 65 De Armas of The Informer 66 Action 67 ___-walsy 68 Word of assent DOWN 1 Hardens 2 Cut the rind from 3 Lacking in moisture 4 Soak (up) 5 “Fast Car” singer Chapman 6 Kidney-related 7 Large venue 8 Remove roughness from

9 Speak haltingly 10 Six 11 School zone? 12 Group that made the Wild West less wild 14 Principle 17 Worked on a driveway 23 Chess “castle” 24 Low brass instrument 25 192 of them make a qt. 26 Decorate anew 27 Full of profanity, perhaps 31 Fitting 32 “Yay, team!” 33 Mrs., in Managua 35 Tick’s relative 36 Iridescent gem 38 “&$#!,” for one 39 NATO alphabet word after “Juliett” 42 Sewed by a surgeon 44 Wow-inducing, in old theater slang 46 Make airtight 48 Despairing poker declaration 49 Pituitary or thyroid organ 50 Jazzman Blake 51 Justice Kagan

52 Online merchandising 53 Many Soho dwellings 57 Out of office 58 Hereditary determinant 59 Periods 62 Queen ___ (“Halo” singer, to fans)

Solution to yesterday’s puzzle:

Show BusinessMirror

www.businessmirror.com.ph

Wednesday, October 16, 2019

blind spot bruce c.

VINTAGE

THE starlet is now happy with her family but, of course, her finances are not what they used to be. She has fewer offers and that means less money, but aside from her immediate family, she has other family members to support. Fortunately, the starlet still has some things to sell from her previous life. These things include her bags and jewelry. The starlet was the first showbiz personality in Philippine to carry an iconic bag with a cost that could reach over a million pesos. While the jewelry are in good condition and still fetch good prices, the bags are really quite vintage and slightly overpriced. So the jewelry sales have been going well, but there are no takers for the bags.

SHE LIKES THEM YOUNG Natalie Portman

MARIAH CAREY

Brie Larson

Jennifer Aniston

Jennifer Aniston, Mariah Carey honored at women’s event

By Lindsey Bahr The Associated Press

EVERLY HILLS, California—Jennifer Aniston, Ellen DeGeneres, Awkwafina and more stars overcame a dysfunctional teleprompter to toast one another and their charities at a women’s luncheon Friday in Beverly Hills. “I’m fine, but Jen [Aniston] is freaking it back there,” DeGeneres said as harried staff struggled to fix the broken screens that just a few minutes earlier had Awkwafina nervously winging it (“I can do a little tech support,” she offered) before calling someone to just bring up her phone so she could read her speech manually. But there’s nothing like a few comedians to handle technological issues with grace and humor. Both had the crowd in stiches despite the minor chaos happening around them. The 11th annual Variety Power of Women luncheon honoring Aniston, Awkwafina, Chaka Khan, Mariah Carey, Brie Larson and Disney Television Studios Chairman Dana Walden boasted a roster of A-list guests and presenters, from DeGeneres to Natalie Portman and Ryan Murphy who charmed and inspired the well-heeled crowd of entertainers and industry insiders with speeches about their charitable causes and their commitment to empowering women in the industry. Aniston was introduced by DeGeneres, who kept

things light and didn’t mention the recent socialmedia uproar around her friendship with thenPresident George W. Bush. “What an honor it is for Jen Aniston to receive this from me,” DeGeneres said. “In a world where people are angry and mean, she is one of the nicest people I’ve ever met.” Aniston wiped tears away as she recalled meeting a young girl fighting cancer at Saint Jude Children’s Research Hospital. “Every child deserves to know that they are seen and heard,” she said, remembering a time when an adult told her, at 11, that she didn’t have anything interesting to say. She said she carried that sentence with her into adulthood and often finds herself feeling like that 11-year-old at dinners. The Morning Show star said her Friends mom Marlo Thomas introduced her to the hospital, which she has been working with for 25 years. And she said the last two years in the industry, following the rise of #MeToo, has made her think a lot about the messages “we send” young kids and girls. “The things we say and do can either build them up or tear them down and make them feel like maybe their voices don’t matter,” Aniston said. She admitted that she never “actually thought about myself as powerful. Strong, yes, but not powerful...It’s a distinction I’ve actually been thinking about a lot lately because that word ‘power’ and its counterpart, ‘abuse of power,’ keeps coming up in light of what is happening in our country and in our industry—a rebalancing of the scales.”

Aniston’s speech wasn’t the only to touch on cancer. Ryan Murphy, who credited Walden with giving him a chance in television when no one else would, also thanked the Disney executive for being there when he found out his 18-month-old son had a tumor a few years ago. Walden has worked with the UCLA Jonsson Comprehensive Cancer Center since her own mother was diagnosed a decade ago. Justice and empowerment were also on the minds of Carey, who spoke about how her own experiences at a performing arts camp helped inspire her to begin Camp Mariah 25 years ago, and Larson, who ceded part of her speech to Equal Justice Initiative Operations Director Eva Ansley, the woman she plays in the upcoming movie Just Mercy, about the advocacy organization’s founding. The event, which was put on with the help of presenters like Lifetime and sponsors like Audi, was tamer than in years past when celebrities used their platforms to talk about everything from politics and the patriarchy to Harvey Weinstein. But Carey managed to thrown in a little spice of her own in remembering how she had to learn how to gain control over her career over the men who wanted to dictate what she wore and who she worked with when she was just starting out. “I want to thank each woman in this room and all the women who have come forward with their truths, their harrowing experiences and above all, their triumphs over the misogynistic society of corporate [expletives] that we deal with every day,” she said. n

Nielsen ratings data reveal GMA led September Multimedia giant GMA firmly held the top spot in the TV ratings competition in both Urban Luzon and Mega Manila, according to the latest data from ratings service provider Nielsen TV Audience Measurement. The network recorded an average of 31.7 percent total day people audience share in Urban Luzon, which was ahead of ABS-CBN’s 30.7 percent for the month of September (with September 22 to 30 based on overnight data). The viewer-rich area accounts for 72 percent of all urban TV viewers in the country. GMA led in the morning block with 24.9 percent people audience share, while its rival network got 24.1 percent. The network also continued its winning streak in the evening block with 34.9 percent versus ABS-CBN’s 32.3 percent. In Urban Luzon’s list of top 30 programs, Kapuso Mo, Jessica Soho (KMJS) consistently remained in

the No. 1 spot. The award-winning magazine program also dominated the list of most watched shows in National Urban Philippines. Following KMJS were Sahaya, 24 Oras, the Alden Richards-starrer The Gift, Beautiful Justice, Daig Kayo ng Lola Ko, its newest prime-time offering One of the Baes, Love You Two and Amazing Earth. The recently launched second season of The Clash also made it to the list of the network’s ratings drivers for the month, followed by StarStruck, The Better Woman, Pepito Manaloto, Daddy’s Gurl, Magpakailanman, 24 Oras Weekend and Wowowin. With official data from September 1 to 21, GMA similarly won in Mega Manila, which accounts for 60 percent of all urban viewers in the country. The network posted a 31.7 percent average total day people audience share, beating ABS-CBN’s 28.1 percent. More GMA shows also made it to Mega Manila’s top programs list with 18 out of the top 30 shows.

HIS DUALITY

DURING a recent event where people had to share rooms, several actors reportedly had too much of a good time. The actors were drunk and were said to have indulged in the “Big O” and really, their sex lives are none of our concern—except for the fact that two of the actors are known to be very religious. One of the actors, in fact, belongs to a family whose elders don’t believe there are homosexuals, just misguided individuals. And of them all, the young actor was the one who was said to have enjoyed the orgy so much. The other participants are still amazed at his duality and how someone who is known for righteousness could be so wild. One of the actors goes to the same church as him and his family, and he can’t make eye contact with the young actor anymore.

FIRST LADY

THE politician is so serious about his ambitions that he is starting to woo members of the press this early in the game. He has reportedly hired a PR person to handle everything and no amount is being spared for his upcoming campaign. The politician is already very popular so he may always be a shoo-in for the elective position he is aspiring for. There are two contenders, but none is as strong as he is. The scary thing is that the politician is known for being insincere. For instance, he is known for being religious but it is an open secret that he is cheating on his wife with a sexy starlet. The said illicit affair is serious that his people call the starlet “first lady.”

Jane Fonda arrested protesting climate change in Washington NEW YORK—Jane Fonda was arrested at the United States Capitol on Friday while peacefully protesting climate change. The actress and activist was handcuffed on the east side steps and escorted into a police vehicle. Video of the arrest circulated online. Fonda was one of 16 people arrested for unlawfully protesting and was charged with “crowding, obstructing or incommoding.” She was released hours later. On Thursday, the actress vowed to join Friday protests at the Capitol “inspired and emboldened by the incredible movement our youth have created.” Ira Arlook, of the group Fire Drill Fridays, confirmed that Fonda was arrested at the inaugural demonstration Friday. Before her arrest, Fonda in a speech called climate change “a collective crisis that demands collective action now.” AP

GMA’s prime-time offering Beautiful Justice

Nielsen TV Audience Measurement’s client pool covers a total of 32 clients/subscribers consisting of six local TV networks, including ABS-CBN, TV5, AksyonTV

THE good professional, it seems, hasn’t learned from her experience with a handsome actor. She left her husband for him but it turns out he only was with her for her money. The actor reportedly stole from her and played with her feelings. Right now, she is enamored with an actor young enough to be her son. She is so in love with him that she invested millions in a project he is involved in. It is not clear whether the young actor reciprocates her feelings, but he is not averse to accepting gifts from the professional, who is old, but not old enough to be unattractive. She takes care of herself. She really could be the young actor’s mom but she doesn’t look it. She’s more like a hot older sister.

and CNN Philippines, among others; three regional clients; two blocktimers; and 21 agencies (17 media agencies, three consulting agencies and one digital agency).

Image BusinessMirror

Wednesday, October 16, 2019

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Life begins SUI GENERIS CARLO ATIENZA

As I celebrate my 40th year, I can see so many things changing in my life— professional and personal, and I am appreciating more and more the people and events which have brought me to where I am now. And while there may be changes here and there, I can always rely on the people I have chosen to stay in my life to get me through.

biblisko@gmail.com

N a little over a few days, I will be celebrating my birthday. I do not particularly enjoy birthday celebrations. One of the reasons this is so is probably because I used to celebrate it together with my sister, whose birthday is just two days from mine. And since she is the eldest in the family and to save from a double celebration, I would celebrate my birthday with her, two days after. Moreover, the guests would always be all her friends. I can remember a few occasions I celebrated it with some of my friends, but given that I am extremely introverted (until now, I guess), I do not normally have a big celebration for my birthday. There was even a time I celebrated by going on a trip alone. And up to this day, my idea of a good birthday celebration is a sit-down dinner, a slice of cake and a cup of coffee, and a good conversation with a glass of wine after. Each person has a way of celebrating their birthdays. I just prefer mine that way. If there would be a celebration, I prefer it to be small enough to talk to everyone in the party. But in all the years I did celebrate my birthday, I would always take the time to be thankful for another year that I have been given. I think one of the simplest ways we celebrate life is acknowledging we survived another year. And given the demands of work and the challenges of life, indeed it is a survival. But beyond the nitty-gritty of everyday life, we celebrate the accomplishments in our work, the new friends we have made and the optimism that everything will be all right as we face another year. Birthdays are commemorations of how far we have gone in life and to be thankful for every good thing which life has to offer. And we celebrate it in our own way, surrounded by the people we hold dear. This is also a good reason why we celebrate birthdays—they are a social cue to celebrate with friends and family. Ever notice that the way we celebrate the birthdays of people we know and care for is different when we attend celebrations of people we hardly know? When we have birthday celebrations in the office with our colleagues, do you notice it is different when you celebrate with friends you have known for a long time? The celebration becomes more meaningful and significant because they know your struggles, and they have been with you in moments of self-doubt and misery. They were the ones who stood by you and supported you to become the person you are now. We celebrate with people who have seen us through thick and thin, and are willing to stay with us for as long as we live. These are the kinds of friends we have fun celebrating our

birthdays with—we get to be who we are. Birthdays are important times to focus and refocus. While we have New Year resolutions to guide us in navigating the year, birthdays are somehow similar. It reminds us of the goals we have set for a lifetime and how far we have achieved them, or adjust your life course so you can achieve them. One of the important things I do on my birthday is to recount the past year and look at what I have done and stop regretting things I have not done, or the things I could have done differently. I would rather focus on what I can do better in the future. Taking the time to think about the past year will provide you insights into the things which can make you happier and enjoy your life more. While it is good to celebrate our triumphs, it is equally good to understand where we need to improve and take specific steps to address them, or think of ways our strengths can best play against our opportunities for growth. In your next birthday, maybe instead of receiving gifts, how about giving a gift to your mother? After all, she was the one who bore the pain and suffering to get you into this world. I guess what I am trying to say is your mother should be celebrated as much as your birthday. Every year of your life, your mother was there to support and guide you, and no one in this world will love you as much as your mother does. Birthdays should also be about them. So instead of expecting a gift from your mom, why don’t you give a gift to your mom in appreciation of how much they have given up so you can have more. I turn 40 this year and as the famous saying goes, life begins at 40. I have always found this to be curious phrase. A little research showed me this phrase is actually the title of a book published by American psychologist Walter Pitkin in 1932. This was during the era of new advancements in technology which allowed for longer life spans beyond 40 years, when a few years before, it was only 25 years. Hence, the famous phrase. As I celebrate my 40th year, I can see so many things changing in my life—professional and personal, and I am appreciating more and more the people and events which have brought me to where I am now. And while there may be changes here and there, I can always rely on the people I have chosen to stay in my life to get me through. ■

Let someone read to you

ARANETA CITY HELPS SPREAD BREAST CANCER AWARENESS WITH ‘I PINK I CAN’

BY MICHAEL PERRY The Associated Press THE other evening my wife offered to share aloud a passage from the book she was reading. I grudgingly agreed, as I have never enjoyed being read to as an adult. If someone says, “Hey, listen to this,” and rattles a newspaper, or is holding a book, or wielding an e-reader, I tense up and want to run the other way. It’s a confounding conundrum, as I loved being read to as a child, but for some reason, as a grown-up my first instinct is to grit my teeth. I am ashamed of this because I know many couples who love reading to each other, and assume my hang-up is symptomatic of selfishness, egotism, impatience, and any number of other traits all traceable to rank narcissism. My wife is well aware of this predilection, and thus rarely attempts to share. Shame on me, because she reads regularly and widely. And so, in the interest of self-improvement as a means of alleviating self-loathing, I turned to my wife and said, “Yes, please.” Then I put my head back and closed my eyes and she read the opening sentences of Laurie Lee’s Cider With Rosie, a memoir of the author’s childhood in rural England I adapted a meditative pose, determined to overcome my dumb stubbornness. By the second sentence I found myself enchanted. This reading took place at bedtime, and I drifted off feeling a nostalgic tug from a place I’d never been. Consequently, the next morning, during chicken chores, I contemplated the fact that somewhere in my late 40s, I stopped looking at old photographs. Previously I loved noodling through vintage International Harvester refrigerator advertisements, old yearbooks, or tubs of family albums. The sense of transport, of time-travel, of cheating back to the past, was tantalizing and palliative. Tantalizing because there arises an actual physical sensation one is playing hooky on the hectic hairy present; palliative

because you’re able to ignore—if not postpone—the unrelenting encroachments of the future. But something over the past handful of years has dulled my appetite for reminiscence. In part I suspect this is due to reminiscence’s debt to sentimental nostalgia, which is not only useless in the face of the world’s suffering, but also often used to obscure and perpetuate it. Every time we pine for “the good old days,” we ignore the underside of history’s iceberg. The passage of time has also left me less and less able to endure the sweet sadness referred to by the Portuguese as saudade. In my youth, saudade made me feel like a noble poetic loner. These days it just warps into worries about health insurance deductibles and the kid’s earache.

Jeepers, I’ve wandered off into the weeds. The point is, as my wife began reading that book to me, I was immediately drawn into a departed English countryside setting I’d never known, and yet the emotional resonance was immediate and clearly related to my own childhood in an American countryside. Eyes closed, I felt I was in a childlike, mystic place. Reflecting on this the following morning while pouring chicken feed I decided that for all its unreliability, reminiscence is worth revisiting as a simple mind vacation. Moderation and titration are key. The occasional backward gaze, then look to the future. As for the present? Sit still, son, and allow yourself to be read to.

TO help support Breast Awareness Month this October, Araneta City staged the “I Pink I Can:” Breast Cancer Awareness Event at the Gateway Mall Activity Area on October 13. The leisure destination staged various activities meant to provide information regarding breast cancer, with Miss Universe 2011 3rd Runner-up Shamcey Supsup, who also hosted the event, and sisters Dianne and Katrina Medina taking center stage to help in spreading awareness. Breast cancer is a serious issue in the country. It has been reported that the country has the highest incidence rate in Asia, and is among the top countries in the world with the most cases of breast cancer. In fact, 1 out of every 13 Filipino women are expected to develop breast cancer in their lifetime. The fight against the disease is not lost. Detected early, breast cancer is preventable and curable, with modern medicine starting to find solutions for this. At the same time, the number of breast cancer survivors has been increasing steadily. All of this wouldn’t be possible without proper education and awareness, which is exactly what I Pink I Can sought to provide for the Araneta City community. Aside from being a beauty queen, Shamcey is also an advocate breast cancer awareness for breast cancer, as are TV hosts Dianne and Katrina Medina. The two shared insights through inspirational messages and games that were held for the audience. There were also talks given by the Philippine Cancer Society’s Dr. Rachael Rosario, and breast cancer survivor Vilma Quismondo. Different activities were held between the talks, such as the Bra Cup Filler Making and DIY Pink Tee activities. Customers aged 20 years old and above who registered were also able to avail themselves of free breast cancer screening. In addition to the I Pink I Can event, Araneta City also painted its pedestrian lanes pink for the month of October to spread awareness and encourage education regarding breast cancer. The I Pink I Can event was presented by Araneta City in partnership with Philippine Cancer Society, Qualimed, Rustans, Tony and Jockey Salon, Michaela Lifestyle, and Latt Liv.

BusinessMirror E1 | Wednesday, October 16, 2019 • Editor : Tet Andolong

JEG Tower

JDC aims to be a leader in green building in Cebu By Rizal Raoul S. Reyes

@brownindio

ED by the third-generation executives from the Garcia family enterprise, Cebu-based real-estate developer JEG Development Corp. (JDC) is determined to lead the development of green buildings in Cebu that is on a par with both national and international standards. Chief Operating Officer Marko Sarmiento, Brand Manager Ayla Gomez, and Estate and Business Development Manager Stefan Garcia will lead the company to pursue a more sustainable path as part of their contribution to their family’s legacy and to the growth of Cebu. Sarmiento, who takes charge of all of JDC’s projects, said in a recent press briefing held in Makati City, “We are a young and dynamic player in Cebu’s real-estate industry. We’re making our contribution by having a long-term view in developing livable and sustainable communities,” he explained. Since the company started developing green buildings four years ago, Garcia said JDC has proven that green buildings are not really expensive as perceived by a lot of people. Aside from developing green buildings, people should also develop greenbelt areas in urban areas so that the inhabitants can live in a sustainable manner. “There are lots of benefits in going green,” Gomez pointed out. Apart from its flagship project in green buildings, the JEG Tower @ One Acacia, the company has earlier ventured into residential and commercial spaces.

“Our work at JDC reflects our pride as Cebuanos and, at the same time, building with the Cebuano in mind,” said Gomez. “Integrity guides everything we do, and we are mindful of our impact to the environment and to the future generations of Cebuanos.” Firmly rooted in the community, JDC is building for a more livable Cebu by designing their

JEG Tower interior lobby

JEG Development Corp. (JDC) executives, Estate and Business Development Manager Stefan Garcia (from left), Brand Manager Ayla Gomez and Chief Operating Officer Marko Sarmiento

projects around the aspirations and future needs of the people. They envision their properties to usher in a new standard of living for the community. Garcia knew that going green is a step that would significantly benefit Cebuanos. “Adapting environment-friendly practices and technologies in property development is a long-term strategy for JDC. We believe that starting with the JEG Tower @ One Acacia, we can reduce operating costs through its efficient resource management. It would also result in increased worker productivity, and an overall positive impact on the health and well-being of our prospective occupants,” he shared. With an active and progressive leadership team taking the helm of JDC, their view of Cebu as a

livable and sustainable community enables them to create more spaces that encourage a balanced lifestyle. Sarmiento said JDC also wants to be also known as a smart developer that will involve the application of technologies or PropTech to improve building and tenant management. Furthermore, Gomez said JDC will be busy shifting from commercial office spaces to vertical projects. “We’re also planning to enter the residential market in Cebu.” “We want Cebuanos to feel that they don’t have to go far to experience the premium quality of life they deserve. It is right at home,” shared Sarmiento. “We are invested in Cebu’s future and we want to contribute to that growth and grow along with it.”

Business

E2 Wednesday, October 16, 2019

Tech Up Real Estate:

The first real-estate Hackathon in Asia Pacific

Amor Maclang

first dibs in real estate

Conclusion

S part of the judges representing the real-estate industry, Hannah Yulo was impressed with the amount of programming that the participants were able to do in such a short amount of time, acknowledging the need to pursue integration to champion sustainable solutions.

”In our competitive environment, it is important to drive efficiencies by integrating tech into process flows of property companies. Even simple tech like censored light switches can move companies a great deal closer to our goal of building sustainable developments.” Current practices relating to property management can be said to be unsustainable in the face of technological upheaval. “Solutions for buildings and communities can adopt new technology to

improve efficiency and transparency,” said Jezreel Apelar, an urban planner by trade and a board member of the Young Leader’s Group. Sustainability, as the core of the Urban Land Institute’s (ULI) mission, plays a big role for the advocacy of technology, beyond the disruption it causes. “There are similar challenges other places are facing, we can look to them as models but it's a matter of localizing what has been developed elsewhere for the Philippine context.”

Mentors and judges at the Real Estate and Liveable Cities Hackathon Challenge

Apelar is quite optimistic about the future of tech to further sustainable development. “I see it very much as a top-down approach,” he said. “When key players, such as the large real-estate developers or government, requiring or adopting new technologies, I think everyone else will follow. It will be a domino effect. But someone needs to take the lead and, for now, it will continue to be private sector since they have the clout, the scale and resources to do so.” The winning team, Real Team presented an initial app called Landlordy that can assist property managers with tracking a tenant’s lease status. The three teammates, all who were young professionals working in technolog y companies, professed the goal to expand further as a stand-alone property application that can provide end-toend services for both business owners and tenants. Yulo felt their concept was truly deserving to win. “Their

Grand prize winner Real Team with the judges composed of leadership of ULI Philippines, leadership of Fintech Philippines Association and Unionbank senior executives during the UHack: Real Estate and Liveable Cities Hackathon Challenge

idea could make lives of landlords so much easier with regards to automating utility supply which would result to seamless collection from tenants without manual interference.” Samson, another representative of the ULI Philippines, while praising the winning team’s idea, also highlighted another team’s concept, wh ic h prov ided a n airbnb/ hotel.com/ hotels.com type of platform for bedspacers. “With the terrible traffic of Metro Manila, students and professionals have been looking into bed spacing as an alternative/cheaper accommodation. This is the reason why the is the current proliferation of bedspacing hotels like MyTown, Dormitel, Upad, etc. The app concept proposed by the Wakanda team if developed properly will surely address the current needs of the Filipinos, and has the probability of generating tremendous profits if implemented and scaled correctly,” she said. Many of the ideas generated

by the participants were of interest to the industry players in the audience. There are, of course, other solutions that developers would like to see realized in the future. Wenceslao’s idea of an app for a city is one that would integrate both hardware and software through an information kiosk and online portals. “This city app would serve a variety of users; for residents and visitors, the city app would provide information, such as directions, establishments and access to services. For third-party locators, such as restaurants or developers, it would provide an online portal to process permits and fee payments.” Overall, the concept would loop feedback to both consumers and proprietors, allowing the city to expand outward. The hackathon is only the first step for the organization. By fostering collaboration within and beyond the real-estate sector, ULI is hopeful to put forward the issues that the indus-

try experiences and share best practices that would champion sustainable development in the country. Established in 1936, the Institute today has more than 40,000 members worldwide, representing the entire spectrum of the land use and development disciplines. ULI relies heavily on the experience of its members. It is through member involvement and information resources that ULI has been able to set standards of excellence in development practice. The Institute has long been recognized as one of the world’s most respected and widely quoted sources of objective information on urban planning, growth and development. Fintech Philippines Association is the largest industry association in the country that brings together technologists, regulators and the leaders in all various industries. The real-estate hackathon is the first industry hackathon undertaken by the FPh this year.

Lamudi highlights sustainability and resiliency C

LIMATE change is a global issue. It is one that is pushing the Philippines to act upon its weak spots and harness its strengths. “It’s inevitable,” Lamudi CEO Bhavna Suresh said at the media roundtable held recently in partnership with Holcim Philippines, and Subdivision and Housing Developers Association (SHDA). Though the country may be facing a dire situation, there is plenty to be done in response to climate change, from big, industrial efforts to small, household changes. Lamudi reinforced their support for building resilient and sustainable cities with the first panel discussion, Sustainability Efforts for the Philippines of NGOs and Private Organizations. NGOs, private organizations, and green developers were represented in the discussion, which tackled the roadblocks to green development in the Philippines and determined the efforts already in place to steer the country into a greener future.

Highlighting resilience

“Most of our coastal municipalities want to be cities eventually. How do we push them toward not just sustainability but also push them to also look at measures that will make them resilient, as well?” Atty. Angela Ibay, head of the climate and energy program of the World Wide Fund for Nature, posed an important question at

Bhavna Suresh (from left), chief executive officer of Lamudi; Angela Ibay, head, climate and energy program of the World Wide Fund for Nature; James Buskowitz, chief executive officer of Buskowitz Group; Arch. Amado de Jesus, vice chairman of the Philippine Green Building Initiative; Jaime “JJ” Fernandez, strategic management consultant of Menarco Development Corp.; Justine Santos-Sugay, director for resource development and communications of Habitat for Humanity; Aina Cruz, marketing manager of Lamudi

the roundtable. In a country that is dotted with high-rise mixed-use buildings and humble coastal homes, the effort to save the environment is tightly coupled with the measures developers can take to safeguard the value of their legacy. One solution, something as simple as planting

trees, encourages the growth of foliage and relieves some of the urban heat island effect our cities are experiencing right now. However, it is not enough.

Addressing roadblocks to sustainability

The Philippines has not been re-

miss when it comes to sustainable efforts. One of the problems developers and real-estate experts face, however, is misinformation or lack of dissemination at the grassroots. One issue all Filipinos will relate to, especially in the Philippine capital, is the water shortage. Despite the typhoons that visit

the country and leave damage in low-lying areas, there is water shortage because the rainfall missed the dams that are meant to supply water to the majority of the city. Ferdz de la Cruz, former chief executive officer of Manila Water Co. Inc., emphasized the urgency of the matter: “It’s up to us to make hard choices for us to be resilient. There are no easy choices at this point. For us to make that, we need to have a constructive dialogue and without the misinformation.” De la Cruz also said the disparity in the supply and demand for water supply. According to him, “There are two issues on water— there’s the supply side and there’s the demand side. On the supply side, there is a road map of what needs to be done, but there are delays in the execution of the road map. There’s always opposition to a big water project.”

Sustainability in the commercial and industrial sectors

Much of the effort real-estate developers have put into sustainability can be seen in the commercial buildings they have strategically positioned in key cities. Jaime “JJ” Fernandez, strategic management consultant of Menarco Development Corp., mentions the savings Menarco Tower is able to pass on to its tenants through its sustainable design. According to Fernan-

dez, “There is an estimate that the tenant will save about 20 percent in terms of energy consumption because the way the building is built is very efficient.” Fernandez also highlighted the human aspect of thinking sustainable. “Prospective tenants would rather pay a little bit more rent” when they know the building will take care of their employees. This, paired with de la Cruz’s observation that people will be more responsible if the problem pinches their bill, makes the case for green developments: rather than lose money in inefficient designs, developers, tenants and residents can save by prioritizing sustainability.

Trickling to the residential developments

“What color is your roof?” A simple question sparked discussion in the roundtable’s second panel discussion, design and construction trends in real estate to build sustainable and resilient cities in the Philippines. It is not a pointless question either, as the simple selection of a white roof can already help a household save energy. Lamudi ’s CEO said climate change is not an isolated problem: “All of these inequalities that exist in the world today are getting heightened because of global warming.”

sMirror

Editor: Tet Andolong

Federal Land to develop a premium condominium complex in Ortigas Center

OR prime real-estate developer Federal Land Inc., creating livable spaces is more than just meeting market demands. It is about contributing to the growth of the community and improving their quality of life.

This philosophy fueled Federal Land’s desire to venture into, yet, another premium development in the heart of bustling Ortigas Center. Considered as one of Metro

Manila’s second-most important central business district, Ortigas Center is home to head offices of top corporations, financial institutions, and government offices,

as well as industrial and commercial firms. Some of the Metro’s busiest lifestyle destinations are also found here: beckoning shopping, dining, learning and leisure experiences for all. Two major infrastructure developments are slated to further spur growth in Ortigas Center and seal Federal Land’s confidence in its investment in the area: the ongoing construction of the 633-meter, four-lane BGC-Ortigas Center link, which is set to be completed by 2020; and the Metro Manila Subway project, the first underground railway system in the country, spanning 36 kilometers and traversing across municipali-

Revolutionize the way you manage your facility with digiFMS

ACILITY Management system (digiFMS) for buildings is an emerging trend in online computing applications. The age-old methods of managing these facilities are not able to meet the tremendous demand and sizes of the societies. It is necessary to facilitate the management of these buildings on an online cloud-based user-friendly platform. DigiFMS is able to handle thousands of concurrent users who will access the system from various sources, like mobile application, and Web application, at any given time from multiple locations. DigiFMS is a computer-based system which is used to monitor the many activities of a regular residential metropolitan building/multiple buildings. The concept of digiFMS took its roots from the fact that various large building complexes need monitoring and maintenance for their various day-to-day activities. In a normal residential society, the day-to-day chores include maintenance of the society, plumbing, parking allocations, waste management, security facilities, tracking dues, vendor management, tenant management, asset management, visitor management, maintenance requests, inventory management, etc. These activities, individually, are very tedious and long processes. They require the coordination between the respective management societies, coupled with the vendors which provide these services so that the appropriate convenience can be provided. The major advantage of digiFMS

over the old methods of managing the society on paper by humans is that a high level of automation can be introduced which not only reduces risk of errors but also helps solve all the problems in an unbiased manner based on an algorithm. Automation can be useful for the following aspects of the digiFMS: Building management, Asset management, Inventory management, Vendor management, Tenant management, Event planner, Complaints, Project management, Maintenance requests, Visitor management, Concierge services, Announce-

ments, and Analytics and reports. Beyond all the facilities provided for a resident to use the software for their benefit, there comes an important question about how data is maintained and where? DigiFMS encompasses three layers of security: Network Security, Application Security and Data Security. All said, technology when applied intelligently to day-to-day process can enhance the quality of life of those who are touched by it. DigiFMS does just that. For more information, visit digiFMS web site at www.ctccons.com.

ties, including Quezon City, Pasig, Taguig and Pasay. Target completion for this massive project is 2025. Industry experts foresee that these high-impact projects will not only decrease traffic congestion, but also give rise to more real-estate developments within the vicinity of the projected 15 subway stations. According to Thomas Mirasol, Federal Land general manager, “Ortigas Center is a prime location for residential development as it strategically encompasses three major cities—Pasig, Mandaluyong and Quezon City. One can also conveniently get around other urban centers, like Makati

and Bonifacio Global City (BGC). With everything available and accessible, it’s easy to envision a life of comfort and convenience, and that’s worth every investment for us and for future residents.” Federal Land hopes to leverage and contribute to Ortigas Center’s growth by building complementing projects that will add value to the way modern Filipinos live today. For its first foray in Ortigas Center, Federal Land plans to construct a second iteration of its awardwinning property in Makati which was done in collaboration with renowned Japanese partners. Mirasol said, “We continue to invest in our country’s progress and partner

with world-class organizations that match our strengths as a developer, and further reinforce our technical expertise and global standards.” Federal Land’s premium twotower condominium is situated at a 5,090-square meter property along Exchange Road in Ortigas Center, Pasig. The high-rise structures will offer 782 units, and will feature Japanese aesthetics in architecture and overall design, replete with exceptional, Zen-inspired amenities. Given its prime location, it is projected to attract the upscale market—both home buyers and investors alike. https://federalland.ph.

P270-B funding scheme pushed for new housing agency By Roderick L. Abad @rodrik_28

HE Chamber of Real Estate and Builders’ Associations Inc. (Creba) pushes again for a P270-billion funding scheme to support housing programs to be undertaken under the new Department of Human Settlements and Urban Development (DHSUD). Created through Republic Act (RA) 11201, DHSUD was finally passed this year after 27 years of anticipation. The largest association of property developers backed up its enactment as it allows government to better, and more efficiently, address the massive housing backlog in the country. Seeing at the DHSUD as a game changer that will provide huge housing concerns the attention it deserves at the Cabinet level, Creba National Chairman Charlie Aniceto V. Gorayeb said in a statement that they are hopeful that housing will not only be regarded as a top government priority, but also be given the support it needs in undertaking programs that will address, if not totally solve, the 6.57 million housing backlog. Creba has been an advocate of “A Home for Every Filipino” via a comprehensive “5-Point Agenda for Housing” that aims to accelerate the national housing production of 500,000 units annually over a timeline of 20 years. This is why the group, he said, renews its call for the establishment of a Comprehensive Home Financing Program (CHFP) that will make all income-earning Filipinos entitled to fixed, low-interest, longterm housing loans, whether or not they are members of the Social Security System (SSS), Government Service Insurance System (GSIS) or the Pag-lBIG Fund. In the 17th Congress, House Speaker Gloria Macapagal-Arroyo filed House Bill 4886, while Sen. JV Ejercito pushed for Senate Bill 2106, where the annual CHFP funding of P270 billion was proposed to be sourced through bond investments by the SSS at P25 billion;

GSIS at P25 billion; a minimum of P70 billion or all of Pag-IBIG Fund’s investible funds for housing; P100 billion from the unused or residual agri-agra funds of banks; and a P50billion government appropriation to serve the informal settlers’ segment—all with mandatory guaranty cover from the Home Guaranty Corp. They envisioned CHFP to be exclusive for home loan borrowers sans component for development financing to guarantee that the funds will be strictly used for shelter acquisition by the homeless. If passed into law, the bill amends RA 7835 or the Comprehensive and Integrated Shelter Finance Act (Cisfa) of 1994. According to Creba National President Noel Toti M. Cariño, the sources of these funds have been already identified by existing laws, and need only to be integrated for effective handling to socialized and economic housing beneficiaries. Payable up to 30 years, VAT-free loans for residential units in subdivisions or medium-rise condominium buildings amount

to P1.5 million with 3-percent fixed interest rate for socialized housing, and above P1.5 up to P3,199,200 million at 4 percent for economic housing. Once approved, Pag-IBIG Fund will administer the loans while the National Home Mortgage Finance Corp. will serve as secondary mortgage institution to ensure the steady and sustainable flow of funds patterned after Singapore, Taiwan, South Korea, Malaysia and Thailand models in attaining low to zero homelessness for the people. All qualified income-earning beneficiaries who have not received housing assistance from any government institution will be eligible for home loans, per the proposal. Both Creba officials hope that the new Congress will steer CHFP’s immediate passage into law, saying that the revolutionary home financing scheme is a complete package on its own that will empower the new housing agency. “This is our way to go in bringing about the urgently needed panacea to our longstanding housing woes,” they said.

Entrepreneur BusinessMirror

E4 Wednesday, October 16, 2019 • Editor: Vittorio V. Vitug

Zen Rooms launches program to equip budding entrepreneurs with right knowledge, biz network By Roderick Abad

N support of top young entrepreneurs in the country, Zen Rooms has launched a new program called “Founders Philippines” with a kick off learning activity that provided 30 chosen participants with practical knowledge on how to successfully launch and run a start-up.

Topics covered included how to sell, mistakes to avoid when starting a company and how to execute a business plan. The initiative is seen as timely since 44 percent of Filipinos intend to start a business in the future, based on the latest report by The Global Entrepreneurship Monitor. While more millennials are looking to put up their own company, the study revealed that the Philippines currently has the highest business closure rate in Southeast Asia— three times higher than Vietnam, Malaysia, or Indonesia. This could be mainly attributed to lack of skills and knowledge needed to successfully grow a business. By providing highly practical

tips, knowledge and a solid network each month with leading entrepreneurs and speakers, Founders Philippines is aiming to help reach the government’s target of doubling the number of entrepreneurs in the country by 2022, create jobs and new services. “The Philippines is a country brimming with entrepreneurial potential and societal issues to be solved” said Nathan Boublil, chief excutive officer and cofounder of Zen. “Zen has gone through the hardship of starting and growing fast in the Philippines, and we now want to share and create a leading network of entrepreneurs who help each other,” he added.

BUDDING entrepreneurs are briefed about the practical knowledge on how to successfully launch and run a start-up during the kick off session of Zen Rooms’ new program called “Founders Philippines.”

Through this initiative, the company is committed to providing driven young professionals with 100 percent actionable, practical entrepreneurial education and the network they need to launch a company to boost entrepreneurial activity across the nation. “We are supporting driven entrepreneurs of all kinds, whether lifestyle or venture-backed,” Nathan said. Founders Philippines will hold monthly sessions free of charge. Once accepted into the program, the sessions provide participants with training and mentoring for their business ideas.

Hosted by leading founders and executives in the country, the program also seeks to promote an opportunity to network with like-minded young entrepreneurs. Zen Rooms is a leading hospital-

By Rizal Raoul S. Reyes @brownindio Contributor

City of Manila Mayor Francisco “Isko Moreno” Domagoso and Manila Vice Mayor Maria Sheilah “Honey” LacunaPangan view the jewelry and accessories on display during the recent opening of the Chai Tai Fook jewelry store at Solaire Resort Manila.

Tai Fook Hong Kong executives, Executive Director Peter Suen, Director of Overseas Business Development Po Liu and Senior Vice President Kenneth Lao who were joined by distinguished guests, such as Manila Mayor Isko Moreno, Manila Vice Mayor Maria Sheilah “Honey” Lacuna-Pangan and Kitson Kho, chairman of The Kho Group. As the highlight of the day, Chow Tai Fook’s set pieces were showcased as models ramped their way through the 200-squaremeter store. The brand’s most sought-after pieces were displayed against the warm light palette of the store, accentuated by the iconic red logo of Chow Tai Fook.

Pangasinan exhibits best foods, music, art

OSALES, Pangasinan—Dagupan City’s famous bangus (milkfish), Calasiao’s puto (native rice cake), Tayug’s Sunflower Dance Festival, among others, were featured at Pangasinan’s BESTival that kicked off on Monday here. In an interview, Provincial Tourism and Cultural Affairs Office Special Events Officer Marife Acerit said Pangasinan’s best products will be exhibited at SM Center Urdaneta City from October 17 to 19. SM City Rosales Marketing Manager Alta Grace Cera, in an interview, said among the featured best products in the province are Dagupan’s kaleskes and pigar-pigar (tender beef dish), Balungao’s

Program tackles best practices in strategy execution

According to analysts, tax cuts, consistent gross domestic product growth and plans to open up the economy to more investors resulted in an increase in luxury consumption in the Southeast Asian country. Nevertheless, the Philippines is not on a par with its richer neighbors like Malaysia and Singapore. Unlike its two richer neighbors where the local population has the lion’s share of purchases, the Philippines’s luxury market is being propped up by foreign tourists, particularly from China. Meanwhile, a sand-pouring ceremony to officiate the opening was led by Chow

patupat and Villasis’ tupig (grilled rice cakes in banana leaves), and Alaminos City’s longganisa (native sausage). Cera said the largest longganisa pasta will be showcased at SM Center Urdaneta City on October 19. She added that BESTival aims to promote the cuisine and delicacies, as well as the culture and arts of Pangasinan to the mall goers. The Tayug National High School students also performed Pangasinan folk dances, such as the wasiwas (fishing ritual), courtship dance, as well as the Sunflower Dance Festival, she said. “We will also exhibit artworks of Pangasinan local artists like the members of

ity group seeded by Rocket Internet. It now has over 4,500 rooms across the Philippines Top 50 destinations and more than 10,000 rooms all over, Southeast Asia on its platform.

Zen has gone through the hardship of starting and growing fast in the Philippines, and we now want to share and create a leading network of entrepreneurs who help each other.”—Boublil

Luxury jewelry brand sets up store in PHL otwithstanding its status as an emerging market, the Philippines is attracting foreign entrepreneurs that carry world-renowned luxury brands. Hong Kong-based Chow Tai Fook Jewellery Group Ltd. is one of the latest prestigious brands that entered the Philippine market. With 90 years of experience and history, the leading jeweler launched their Manila store on September 24, 2019, at The Shoppes, Solaire Resort and Casino in Parañaque City. Charles Sy, the Kho Group’s director, pointed out that their entry to the Philippine market is in recognition of the Filipino’s passion for artistry and Chow Tai Fook’s renowned craftsmanship into the local fashion and lifestyle scene. “Chow Tai Fook is a brand that values creativity, authenticity and originality, something that I believe fits into the Filipino principles. It just makes perfect sense that [all of these] combined, something extraordinary will just come out of it,” he said. Peter Suen Chi-Keung, Chai Tai Fook business head for Hong Kong, Macau and overseas business, said their entry into the Philippines is one of their major moves to expand their brand in the region. He added the country’s stable macroeconomic performance has given foreign major brands the confidence to enter the Philippines.

Clark expo aims to boost CL SME growth

@rodrik_28

Contributor

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Biskeg and Guhit Pinas [artists groups in the province] on October 19 at the SM Center Dagupan City and on October 20 here at SM City Rosales,” she said. BESTival is an activity of the SM Prime Holdings Inc. together with the Provincial Tourism and Cultural Affairs Office and the local government units, which runs from October 14 to 20 to boost tourism. “The Department of Tourism said among the favorite destinations of tourists is now the mall so we come up with this activity to feature what is in Pangasinan considering there are a lot of people who visit the SM malls,” she said. PNA

aving the right strategy is important to all businesses, but strategy won’t get you anywhere without proper execution. Take advantage to learn more about the “Palladium Execution Premium Process (XPP),” the world-class framework taught at Harvard Business School and developed by management gurus Drs. Robert Kaplan and David Norton who popularized the “Balanced Scorecard and Strategy Map Principles and Practices.” Their strategy execution program is popularly taught at the Harvard Business School, and is the most widely adopted approach by globally successful firms that enables them to plan, execute, monitor, test and adapt their strategy assumptions in order to manage execution effectively. The one-day training offers a hands-on workshop, and a comprehensive educational experience complete from theory to practice and application. The program will also feature the expert in this field of practice, Jonathan Juan “JJ” DC Moreno, former managing consultant at the Palladium Group, a global leader in strategy execution consulting founded by Harvard Business School professors and Balanced Scorecard developers Doctors Kaplan and Norton. Moreno spent most of his time traveling all over Asia to help business organizations achieve functional and operational transformations and execute their strategies successfully using the Palladium Execution Premium Process. Registration is open to the general public. Center for Global Best Practices (CGBP) is an accredited training provider of the Civil Service Commission. Public officials and government employees attending this event can earn points and are exempted from the P2,000-limit set by Commission on Audit based on the Department of Budget and Management circular 563 issued on April 22, 2016. Interested participants are encouraged to avail themselves the early payment savings and group discounts. Seats are limited and preregistration is required. To help organizations on this, the CGBP is hosting a pioneering program entitled, “Best Practices in Strategy Execution” to be held on Friday, October 25, 2019, at the Marriott Grand Ballroom, Resorts World Complex, Pasay City, Philippines. Check www.cgbp.org for a complete list of best practices programs including Board Effectiveness Best Practices, 2019 Revised Corporation Code of the Philippines, Best Practices in Managing Financial Performance, Certification Course for Compliance Officers, Strengthening Mental Toughness for Leaders and Managers, How to Build a Working Board and more. You may also call landlines in Manila (+63 2) 8556-8968/69 and (+63 2) 8842-7148/59, in Baguio (+63 74) 423-2914, in Cebu (+63 32) 512-3106. This CPDaccredited program is the last stage of the Planning-Budgeting-Execution cycle. Business owners, decision-makers CEOs, COOs, GMs and members of the management team are highly encouraged to attend this program.

he Central Luzon Growth Corridor Foundation Inc. (CLGCFI) Expo hopes to encourage more local entrepreneurs and small and medium enterprise (SMEs) from Central Luzon to expand their markets beyond the Philippines. Susan Yap, governor of Tarlac and president of the CLGCFI, told reporters the organization is bullish that the forthcoming expo will attract more investors to the region. The Central Luzon Expo will be held on October 18 and 19, at the Asean Convention Center in Clark Freeport Zone in Pampanga. “By exposing the SMEs to this type of top-level event, we will give them the confidence to become globally competitive,” Yap said at a recent news briefing held in Makati City. “The expo will also give them opportunities to look for potential funders for expansion,” Yap added. As part of their capacity building, Yap said, some of the SMEs in Central Luzon have joined international fairs in China, Japan and Germany. The Department of Trade and Industry (DTI) has developed capability-building programs for industries and the micro, small and medium enterprises. It has the local Negosyo Center that can assist a new entrepreneur with business registration and facilitate access to business services, among others. Through mentorship, the Project Kapatid is made to support entrepreneur’s goal of achieving progress and success for his business. Moreover, the DTI has the Shared Service Facilities (SSF) program for assistance in acquiring tools and equipment specific to his or her trade. The DTI has also the Small and Medium Enterprises Roving Academy, a continuous learning program that aims to make businesses locally and internationally competitive. Ninety SME exhibitors will join the expo. Yap said the first expo is envisioned to showcase Central Luzon, comprising seven provinces namely Aurora, Bataan, Bulacan, Nueva Ecija, Pampanga, Tarlac and Zambales as a key growth region in trade, tourism and investment. Judith Angeles, of DTI Region 3, said they expect the event would generate investment leads to the participants. Yap said Central Luzon is a growth region that plays a significant role in the national economy. Central Luzon’s gross domestic product posted a 7.1-percent growth in 2018, and remains as one of the fastest-growing economies in the country contributing 0.7 percent to the country’s 6.2percent growth. Total gross regional domestic product of Central Luzon amounted to P904.02 billion. Export performance in 2018 amounted to $8.195 billion, a decline of 0.69 percent compared with $8.25 billion in 2017 based on the data obtained from the One Stop Export Documentation Center and major economic zones in the region. Electronics remained to the top export with a value of $4.82 billion, which accounted for 58.8 percent of the region’s total export. This was followed by machinery/transport equipment sector with 20.5 percent and other consumer manufacturing with 5.02 percent. Pampanga remains to be top exporting province of Central Luzon with exports amounting to $4.9 billion representing 61.6 percent. Zambales came in second with exports of $2.1 billion followed by Bataan posting $730.9 million. Major export markets of Central Luzon are the United States, China, Hong Kong, Japan, South Korea, Taiwan, Germany, Malaysia, Singapore and Thailand. Event components include provincial pavilions, exhibit booths, and labor matching, provincial presentation on investment opportunities, business-to-business-to-business meetings and fellowship lunch. Rizal Raoul S. Reyes

www.businessmirror.com.ph

A BusinessMirror Special Feature

Wednesday, October 16, 2019

ISUZU GENCARS@41

ON A PATH OF STEADY GROWTH Over the first half of this year, the automotive industry posted good sales and industry players have regained confidence in the future. Industry leaders expressed optimism that the local automotive industry is on a path of steady growth after concluding the first

ISUZU GENCARS MAKATI

N its 41st anniversary, Isuzu Gencars marches on with firm and steady steps toward its goal of being a market leader that brings the durable and dependable Isuzu vehicles and after-sales service to the most number of Filipinos.

Bold and confident, it pursues its plans to expand in terms of branches, facilities and service offerings to be able to fulfill its commitment to be a dynamic participant in national development. The automotive industry had suffered a decline the previous year, 2018, due to high fuel prices, higher excise taxes on vehicles arising from ongoing tax reforms, and global economic uncertainties. The current year, however, saw the industry making a recovery that holds promise of a turnaround.

half of the year on a positive note. The collective efforts of the different automotive brands, highlighted by fleet sales, good financing deals and model updates and upgrades show that players have learned to adjust and adapt to market conditions, helping

consumers acquire new vehicles on easier terms. Isuzu Philippines Corporation (IPC), in particular, demonstrated this sense of confidence as it launched last September an Continued on F8

Wednesday, October 16, 2019

Gencars@41 A BusinessMirror Special Feature

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GENCARS NETWORK KEEPS DREAM ALIVE A

NETWORK of seven branches – one, the maiden dealership in Metro Manila, and six others around Luzon – keeps Isuzu Gencars firmly on track in its expansion course. The seven dealerships have consistently proven to be a reliable partner of Isuzu Philippines Corporation in providing the nation with Isuzu’s vehicles of high dependability and quality after-sales service. Tracing back the history of Gencars, it begun when Ambassador Cabangon Chua opened Isuzu Gencars Makati in 1978 with fellow investors, mostly friends from his days in the military who are generals. This is where the name Gencars originated. The first dealership was born under the helm of Ambassador Cabangon Chua on a one-hectare property housing a spacious Isuzu vehicle showroom, and a Five (5)-Star service shop at the corner of Chino Roces Avenue (formerly Pasong Tamo) and De La Rosa Street in Makati City.

In 1994, his son and now the President and CEO of Isuzu Gencars D. Edgard A. Cabangon, took over and worked full time in expanding its dealership to nearby provinces. Following the opening of its maiden branch in Makati, Isuzu Gencars opened up its second dealership, Isuzu Gencars Batangas, in 1996. This is located in barangay San Roque, Sto. Tomas, Batangas. Since then, there was no turning back for Mr. Cabangon as he leads the dealership company in expanding its services to other areas in the country. Isuzu Gencars San Pablo,

ISUZU GENCARS SAN PABLO

ISUZU GENCARS BATANGAS (STO. TOMAS)

ISUZU GENCARS NAGA

ISUZU GENCARS LEGAZPI

Inc., the company’s third outlet, started its operations on November 17, 2000. It is located along Colago Avenue, San Pablo City, Laguna. This third dealership caters to the brand-new vehicle requirements as well as the vehicle service needs of Isuzu vehicle owners in

Laguna, Quezon Province and the Bicol Region. Its fourth outlet, Isuzu Gencars Legazpi, opened on July 17, 2006 at J. P. Rizal Street, Legazpi City, Albay, and its fifth outlet, Gencars Naga, on August 8, 2008 at Maharlika Highway, Pili, Camarines Sur.

Both Legazpi City and Naga City outlets serve the motoring needs of major establishments in Bicolandia that require an improved mode of transport with modern facilities for aftersales service and parts. The youngest of these dealerships are Isuzu Gencars

Santa Rosa, which opened in late 2017 as the dealership’s seventh branch, located along the Santa Rosa-Tagaytay Road in Barangay Pulong Santa Cruz. The sixth dealership which opened in 2016, Isuzu Gencars Continued on F7

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Gencars@41 A BusinessMirror Special Feature

GENCARS SELLING MORE ISUZU TRUCKS THESE DAYS

EING responsive to the demand and trend in the trucking industry, Isuzu Gencars Inc. continues to ride on this surge with its dependable and heavy-duty trucks. As the government intensifies its infrastructure program, Isuzu Gencars Inc. is quick to recognize the soaring demand for heavy-duty trucks, in particular, for constructionrelated activities. Since the government is determined on building more roads, bridges and other public works, Gencars is up to the challenge of providing viable options for the government with its wide-range of trucks. Thus, an increase in truck sales is inevitably being experienced by Isuzu

Gencars. Noteworthy is the fact that this is the result of the public’s preference for new trucks. These days, people have started buying new trucks instead of using second-hand trucks for logistics such as supplying components to factories, delivery of goods, transporting products and other operations tasks. Through the years, Isuzu is consistent to be the choice for reliable and dependable light-duty, medium-duty and heavy-duty trucks. This continues today as Isuzu

wins the top share in truck sales in the Philippines, providing businesses with its commercial vehicles of the N series, F series and C&E series. Its QKR77 light-duty truck has also been widely used in the public utility vehicle modernization program of the government. Isuzu Philippines Corporation (IPC) has delivered units of this model to several transport service coops, its platform used as the basis of PUV units equipped with a body designed and manufactured by well-known vehicle manufacturers. Through IPC’s more than 20 years in the Philippines, Isuzu trucks have sold better than other truck brands in the country, establishing IPC’s name as the number one manufacturer of trucks. Isuzu Gencars is proud to play a big role in bringing to Filipino enterprises the Isuzu brand of durable and dependable trucks that can withstand challenging business operations.

Wednesday, October 16, 2019

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Gencars, Inc. 41

A BusinessMir

A SPECIAL D-MAX FOR POPE FRANCIS

OR years, countries being visited by the pontiff have traditionally provided him with a special vehicle. The Popemobile made from special conversions of different vehicle brands has become a way for the pope to see his followers as he travels through city streets around the world. Makers of the popemobiles used by the Pope in making his apostolic visits all over the world are naturally proud and pleased to have contributed, in their own way, to the arrival of the Pope.

Isuzu Gencars shares this sense of pride and pleasure. In January 2015, Isuzu Gencars became part of the historic visit of Pope Francis to the Philippines by being the

provider of the Popemobile that transported the Pontiff to various places in the country. The company’s special connection to the Pope went beyond that visit. Later that same year, Isuzu Gencars donated a second Popemobile to the Vatican, which the Pope uses in going around and meeting people. In this endeavor, Isuzu partnered with the Almazora Motors to come up with a Filipino-made Pope Mobile which is compliant to the strict standards of the Vatican. With the collaborative efforts of the two groups, the Pope Mobile came about which was later on described by no less than Pope Francis himself as a “beautiful car”. Using an Isuzu D-max, the two-cab vehicle was converted

into a single cab one, making room for the pope’s chair and additional seats for his companions. A plexiglass shield was secured in front to protect the pope from the elements. Sturdy railings were attached to the sides of the vehicle for the pope and his security personnel to hold on to while in transit. To give the Popemobile a Filipino touch, the pope’s emblem was emblazoned with a banig design. The chair is made from Italian leather with red carpet imported from Italy. Four years after that historic visit of Pope Francis to the Philippines, Isuzu Gencars continues to enjoy a great sense of accomplishment over having provided a special D-Max for the pontiff.

1st Anniversary

rror Special Feature

www.businessmirror.com.ph | Wednesday, October 16, 2019

Messages

WOULD like to extend warm congratulations to the hardworking men and women of Isuzu Gencars, Inc. on the celebration of your 41st Foundation Anniversary! Since its establishment in 1978 by the late Ambassador Antonio L. Cabangon Chua, Gencars has been a reliable partner of Isuzu in making sure that our line of dependable sports utility vehicles and trucks are made available to as many Filipino consumers as possible. The company's expansion to key locations in the country through the years has made this possible. Likewise, Gencars has become a trusted provider of excellent after-sales services, making it a one-stop-shop for all our loyal Isuzu patrons. Let me take this opportunity to thank you for your unparalleled dedication. We at Isuzu Philippines Corporation wish you more success in the coming years, and hope for an evergrowing partnership with you. Again, happy anniversary! HAJIME KOSO President of Isuzu Philippines Corp.

CONGRATULATE the officers and staff, sales people and service personnel of Isuzu Gencars Inc. as we celebrate our 41st anniversary. Thank you for making this milestone possible with your hard work, determination and perseverance. I also wish to express my profuse thanks to Isuzu Philippines Corporation whose sincere support and cooperation through the years enabled us to bring to our countrymen Isuzuâ&#x20AC;&#x2122;s excellent vehicles and after-sales products and services. My father and our founder, Ambassador Antonio L. Cabangon Chua, always told us and drilled into us his children this very valuable lesson: The best asset of any company is its people. And when you bring out the best from your people, the company is able to perform at its best. He may no longer be with us physically today, but I know that where he is now, he is happy that Isuzu Gencars remains on a steady footing because we all work together wholeheartedly to reach our sales targets every year no matter what challenges we have to overcome. This milestone of our 41st anniversary truly deserves our most joyous celebration. We have been working hard to succeed and itâ&#x20AC;&#x2122;s time to enjoy the fruits of our hard work and dedication. I therefore greet everyone a happy anniversary and congratulations for tasks well done. Mabuhay tayong lahat. D. EDGARD A. CABANGON President and Chief Executive Officer

Wednesday, October 16, 2019

Gencars@41 A BusinessMirror Special Feature

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AFTER KAIZEN PROGRAM

BIG POSITIVE CHANGE AT PARTS AND SERVICE DEPT.

THE PARTS AND SERVICE DEPARTMENT PERSONNEL OF ISUZU GENCARS, INC. participated in the Kaizen Activity or Continuous Improvement Process facilitated by the Isuzu Motors Limited Japan Team. Shown in the photo is the Gencars Team headed by President and Chief Executive Officer D. Edgard A. Cabangon (standing, 9 th from left) together with Isuzu Motors Limited’s Akihide Ito, Senior Manager; Daisuke Imaizumi, Assistant Manager; Masato Nagahashi, Kyohei Saeki (standing, 7 th, 8 th, 10, &amp; 11 th from left, respectively).

ECHNICIANS, supply personnel and other staff members of the Isuzu Gencars Parts and Service Department are working with a renewed sense of purpose and commitment to their assigned tasks. More than a year after undergoing a Japanese-origin training method known as Kaizen, they go about their day-today duties with enthusiasm and great motivation to do their work as best they could. Kaizen training, developed in Japan after World War II, is a program derived from a business philosophy that involves

promoting constant improvement by monitoring business processes and making small positive changes that can reap major improvements. The term, according to online encyclopedia Wikipedia, is taken from two Japanese words that literally mean “good change.” Roy Dimas, Parts and Service manager at Isuzu Gencars Makati, said

work is much improved at the Parts and Service Department following a series of training and review activities implemented by a visiting Kaizen Team of Isuzu Motors Ltd. Japan. The Japanese executives worked with Parts and Service executives and personnel at Isuzu Gencars Makati. Filipino executives later implemented the training activities in the branches. “After receiving the Kaizen training, our parts supply personnel and service technicians were highly motivated to do their work really well. While before they merely seemed to just get by and finish the work hours, after the training, they had the initiative to analyze and find ways to make their work better,” Dimas said. For instance, he said, staff became more efficient in the control and monitoring of supplies to eliminate overstocking. Parts supplies, he explained, must be based on the need of service in order to control expenses and better assess the quality of parts released. In the case of service technicians, works outside or onsite servicing also improved. “We felt closer to one another and technicians outside would contact us in the office through texts or group chat by PM (personal messenger) to report on the progress of their work,” Dimas said. The training program, Dimas also said, showed the workers that at Parts and Service, they can help the company become profitable if they did their work well. In turn, this would mean benefits for the workers too. The continuing manpower training being initiated by Isuzu Gencars has earned for the Service Division numerous awards for quality operations from IPC. The Isuzu Gencars Service Shop, for one, is classified as a 5-Star automotive service shop, won after passing the standards set by the Department of Trade and Industry (DTI). For years, it has been among the industry’s best service provider for vehicles.

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Gencars@41 A BusinessMirror Special Feature

Wednesday, October 16, 2019

GENCARS NETWORK KEEPS DREAM ALIVE 2006

- Best Customer Satisfaction Rating

ISUZU MAKATI

2006

- Most Improved Dealership

- Most Outstanding Dealer in Parts Operations

2007

- Highest Customer Satisfaction Rating

*2004

- Dealer of the Year

2007

- Highest Compliance Rate in Database

2004

- Most Outstanding Dealer in Parts Operations

2008

- Best in Parts Operations

2005

- Dealer of the Year

2008

- Best in Customer Service Operations

2005

- Most Outstanding Dealer in Parts Operations

2009

- Best in Sales Operations

2006

- Best in Parts Operations

2009

- Best in Customer Satisfaction Rating

2006

- Best in Service Operations – 2nd Place

2010

- Dealer of the Year – 3rd Place

2006

- Dealer of the Year – 2nd Place

2010

- Best in Parts Operations – 2nd Place

2007

- Highest Retail Sales (NCR)

2011

- Best in Parts Operations – 3rd Place

2007

- Best in Parts Operations

2011

- Best in Customer Satisfaction – 3rd Place

2007

- Best in Service Operations – 3rd Place

2012

- Best in Service Operations – 2nd Place

2007

- Best in Push Model Sales Support

2012

- Best in Customer Service – 2nd Place

2007

- Highest Customer Satisfaction Rating (NCR)

2013

- Excellent in Customer Information Management – 2nd Place

2007

- Top Service Business Sales (NCR)

2015

- Dealer of the Year – 2nd Place

2007

- Preventive Maintenance Service Champion (NCR)

2015

- Best in Parts Operations

2008

- Best in Sales Operations

2016

- Dealer of the Year

2008

- Best in Customer Service Operations

2016

- Best in Parts Operations – 2nd Place

2009

- Dealer of the Year – 3rd Place

2016

- Best in Sales Operations – 3rd Place

2009

- Best in Sales Operations (NCR)

2016

- Best in Service Operations – 3rd Place

2009

- Best in Customer Satisfaction Rating (NCR)

2017

- Best in Sales Operations – 2nd Place

2010

- Dealer of the Year – 2nd Place

2017

- Best in Parts Operations – 3rd Place

2010

- Best in Service Operations

2018

- Best in Customer Service Operation

2010

- Best in Sales Operations – 3rd Place

2011

- Best in Parts Operations – 2nd Place

2005

- Most Improved Dealer

2012

- Best in Parts Operations

2008

- Best in Sales Operations

2013

- Excellent in Customer Information Management

2015

- Highest in Customer Service Operations

2013

- Highest Sales in Alterra – (NCR)

2017

- Dealer of the Year – 3rd Place

2013

- Highest Retail Sales in Trucks – 2nd Place (NCR)

2016

- Best in Parts Operations – 2nd Place

2014

- Highest Retail Sales in D-Max (NCR)

2014

- Highest in Parts Wholesale

2018

- Best in Customer Service Operation – 2nd Place

2015

- Best in Service Operations – 2nd Place

* First Dealer of the Year Award given by Isuzu Philippines Corp. among all Dealers

2003

ISUZU GENCARS BATANGAS CITY

ISUZU GENCARS STA. ROSA Continued from F2

Batangas City, stands at the Grand Terminal Complex on Diversion Road, Barangay Alangilan, Batangas City. The place is known as Automotive Row in Batangas City for being the home of several major automotive vehicle manufacturers. These two latest branches carry forward the company’s expansion in the fast developing and progressive

cities of Batangas and Santa Rosa as well as other growth centers in the dynamic Southern Tagalog region. Mr. Hajime Koso, the president of IPC, during the celebration of the opening of these two latest branches, commended the relentless effort of Isuzu Gencars to keep growing, saying that it truly stands out from all the other dealers as far as its comprehensive expansion program is concerned.

Besides opening up new outlets, Isuzu Gencars has been expanding existing ones. From 1,100 square meters, Isuzu Gencars San Pablo now occupies a 2,100-sqm lot, while Isuzu Gencars Naga has expanded from 1,900 sqm to 3,600 sqm In Metro Manila, Gencars has acquired a 700 sqm lot in Bangkal, Makati City, where it now operates a stockyard that can accommodate more than 50 vehicles.

ISUZU BATANGAS

GENCARS, INC. AWARDS AS OF 2019

ISUZU SAN PABLO

ISUZU STA. ROSA

Wednesday, October 16, 2019

ISUZU GENCARS@41

Gencars@41 A BusinessMirror Special Feature

ON A PATH OF

STEADY GROWTH Continued from F1

updated model of its most popular diesel workhorses, the D-Max pick-up. D-Max LS-A, its premium variant, was rolled out 16 years after Isuzu introduced the D-MAX pick-up, which

is one of the countryâ&#x20AC;&#x2122;s most popular pick-up models for its durability, fuel efficiency and overall value for money. In another show of confidence, Isuzu celebrated the fifth anniversary of the introduction into the market of its best selling sport utility vehicle (SUV), the Isuzu mu-X, by introducing

its latest addition to the mu-X lineup, the Isuzu mu-X Boondock, a limited 5th year anniversary edition. Isuzu Gencars shares the automotive industryâ&#x20AC;&#x2122;s optimism and is resolved to propel itself toward greater success. On its 41st anniversary, it reaffirms its commitment to live up to the

vision of excellence upheld by its founder, Ambassador Antonio L. Cabangon Chua, when he established Gencars on October 16, 1978: To be one of the best dealers in the motor vehicle industry, committed to market only the best products, and to provide quality service to achieve total customer satisfaction.