BusinessMirror October 23, 2019 by BusinessMirror

IMF: RATE CUTS TO HELP PHL GROW FASTER

Buildings seem to reach for the sky in Bonifacio Global City in this photo taken October 21, 2019. Reports said the International Monetary Fund (IMF) has given a nod of approval to the Bangko Sentral ng Pilipinas’s recent moves, which it says will make it possible for growth to climb back to 6.2 percent next year. NONIE REYES

By Bianca Cuaresma @BcuaresmaBM

HE International Monetary Fund (IMF) gave its nod to the Bangko Sentral ng Pilipinas’s (BSP) accommodative monetary-policy setting this year, saying this would help the country’s economy climb back to the 6-percent territory in 2020. In its Regional Economic Outlook (REO), the IMF said Manila’s easing of its monetary policy is “desirable” as inflation pressures have subsided and growth has slowed. Other economies that obtained a stamp of approval for the same move were India, South Korea and Thailand. For the entire region, the IMF warned that growth in Asia is expected to moderate to 5

percent, from its earlier forecast of 5.4 percent for this year and 5.1 percent for 2020. “A marked deceleration in merchandise trade and investment, driven by distortionary trade measures and an uncertain policy environment, is weighing on activity, particularly in the manufacturing sector,” the report read. Among the external risks that Asian countries, including the Philippines, will face include the worsening of the United StatesChina trade tensions, weaker-than-expected growth of key trading partners, higher oil prices, and a disorderly Brexit. Risks within the region include a fasterthan-expected slowdown in China, a deepening of regional tensions such as Japan’s and Korea’s bilateral relationship, rising geopoliti-

cal risks, and increased incidence of natural disasters. The anemic regional growth was reflected in the economic performance of the Philippines in the first half of the year when GDP expansion hit only 5.6 percent due to several internal and external factors. The budget delay was cited as the single biggest factor that slowed GDP growth during the period. Inflation was tamer this year, unlike in 2018 when government grappled with higher food and oil prices. In January to September, government data showed that inflation averaged 2.8 percent. Inflation is expected to average around 1 percent in the remaining months of 2019. The continuous decline in inflation led See “IMF,” A12

Rotary Club Of Manila Journalism Awards

2006 National Newspaper of the Year 2011 National Newspaper of the Year 2013 Business Newspaper of the Year 2017 Business Newspaper of the Year 2019 Business Newspaper of the Year

2018 ejap journalism awards

business news source of the year DEPARTMENT OF SCIENCE AND TECHNOLOGY

2018 BANTOG MEDIA AWARDS PHILIPPINE STATISTICS AUTHORITY

DATA CHAMPION

A broader look at today’s business

www.businessmirror.com.ph

By Ma. Stella F. Arnaldo

@akosistellaBM Special to the BusinessMirror

HE Department of Tourism (DOT), and its marketing arm, the Tourism Promotions Board (TPB) have pulled out all the stops in welcoming some 850 delegates attending the Philippine Travel Exchange (Phitex) and the MICECONnect 2019. In her welcome remarks on Monday evening at the reception dinner tendered by the TPB, Tourism Secretary Bernadette Romulo Puyat enumerated the promotions and schemes to help boost the Philippines’s standing as a key travel destination in Asia, as well as a major location for Meetings, Incentive travel, conventions and events (MICE). “To better accommodate travelers,” she said, “we’ve made major improvements to the DOT web site, making it a one-stop shop for all tourism-related information, helping them plan their visits and activities more efficiently.” Also, she trumpeted the recent launch of Iloilo City as a prime MICE destination, as the DOT positions the Philippines as a top destination for hosting major events like meetings of the Association of Southeast Asian Nations (Asean) and Asia-Pacific Economic Cooperation (Apec). Of Iloilo, the DOT chief noted, “The city’s seamless infrastructure, accessible gateways, See “Phitex,” A2

PESO exchange rates n

P25.00 nationwide | 5 sections 48 pages | 7 days a week

Firms brace for Citira battle I By Elijah Felice E. Rosales

850 delegates join Phitex, MICECONnect 2019 events

Wednesday, October 23, 2019 Vol. 15 No. 13

@alyasjah

T’S government economists against industry groups in the Senate. Economic zone locators on Tuesday said they will insist on keeping their fiscal incentives even as their main backer in the government abandoned their case. In discussions among themselves, locators firmed up a consensus to appeal before senators that they be allowed to retain their tax perks under the Corporate Income Tax and Incentives

Rationalization Act (Citira) bill. They admitted this task will be challenging to do now that the Philippine Economic Zone Authority (Peza) Board, their regulator, had changed its mind and

is backing the measure. John D. Forbes, senior advisor of the American Chamber of Commerce of the Philippines, said locators are standing by their position that they should be exempted from the coverage of the Citira bill and be allowed to continue paying 5 percent on gross income earned (GIE) in lieu of all local and national taxes instead of corporate income tax (CIT). “Peza locators still prefer [paying] GIE. The final provisions still need to be worked out so as to avoid displacement of investments and their employees,” Forbes said in a text message. As such, Peza investors decided they will lobby their cause in the Senate even without support

We stand on our appeal to apply the grandfather principle as being requested by our industry partners. [We hope senators] realize that our end of business relies on their tenure in economic zones.”—Zaldarriaga

from any state official after their main backer Peza Director General Charito B. Plaza went on to toe the government’s line on tax reform in early October. “We stand on our appeal to apply the grandfather principle as being requested by our industry partners. [We hope senators] realize that our end of business relies on their tenure in economic zones,” said Francisco S. Zaldarriaga, president of the Philippine

Isko’s vow: Illegal vendors can’t return to Divisoria

No social security for 40% of labor in informal bloc By Samuel P. Medenilla

ANILA Mayor Francisco “Isko” Domagoso warned illegal vendors that they cannot go back to the sidewalks of Divisoria and other areas he cleared from illicit trade to maintain their accessibility for public transport and pedestrian use in time for Christmas. “I guarantee you they are not allowed to return there. [It’s] no season for me. That kind of season is being abused already for so many times, for so many mayors,” he said in mixed Filipino and English during a networking forum held at the World Trade Center Metro Manila in Pasay City on Monday. While traffic congestion used to occur in these areas due to the inf lux of people shopping for cheap items for the Yuletide, he assured the public that bottlenecks will not happen again as the city government will maintain them as they are—free from any obstruction. Continued on A2

Ecozones Association. “We will continue our interface with the senators and hope that will see and empathize with our point of view,” the industry leader told the BusinessMirror. The Joint Foreign Chambers of the Philippines earlier estimated more than 700,000 jobs will be lost if the Citira bill is passed into law as worded by the House of Representatives. See “Citira,” A2

UPTOWN, ALL LIT Children dressed in Santa-inspired costumes lead the first official Christmas launch at Uptown Mall in Bonifacio Global City in Taguig on Monday evening, marking the start of a series of events leading up to the holidays. NONOY LACZA

@sam_medenilla

LMOST half of the country’s vulnerable informal sector workers do not have social security coverage, according to a new study presented at the recently concluded 14th National Convention on Statistics (NCS). The study, entitled “Uncovering the Social Security Coverage of Informal Sector Operators and Workers Using the Philippine Finance Survey,” said 40 percent of workers belonging to the sector are thus vulnerable to sudden changes in their employment status. The study by Ian Miguel D. Landrito, Willa Boots J. Tolo and Christian D. Mina made use of the Consumer Finance Survey (CFS) of the Bangko Sentral ng Pilipinas in 2014. The CFS covered 15,503 household and covered data on assets, liabilities and demographics. For the purpose of the study, the researchers defined informal sector workers as those belonging to household unincorporated enterprises; own account workers, including unpaid family, as well as occasionally/seasonally hired workers; and employers owning business that may employ less than 10 employees. “Around 2 out of 5 informal workers [covered by the CFS] are not social security-covered,” the study said. See “Social security,” A12

US 51.1770 n japan 0.4713 n UK 66.3356 n HK 6.5255 n CHINA 7.2335 n singapore 37.6080 n australia 35.1381 n EU 57.0624 n SAUDI arabia 13.6447 Source: BSP (22 October 2019 )

News

BusinessMirror

A2 Wednesday, October 23, 2019

www.businessmirror.com.ph

US Coast Guard chief doubts China’s SCS design

HE visiting commandant of the United States Coast Guard (USCG) is skeptical of China’s claim of a peaceful expansion, especially in the South China Sea where it has disputes with its neighbors, given its development of man-made islands and military fortresses, the goal of which is only to protect and advance its interests against other states. Admiral Karl L. Schultz made the observations in Manila as he noted Beijing’s “coercive and antagonistic behavior” toward other claimant countries in the South China Sea including the Philippines. In

contrast, he said, the US has been offering “transparent engagement and partnership,” both on personal and professional levels. “My personal observations are that China seems to be more fo-

cused on advancing their own, and their expanding interests in the region versus the broader Indo-Pacific, Asian partner nations’ regional interests,” Schultz said during a telephonic press conference on Monday with journalists from Asia. “China talks about their peaceful conduct, but then we see manmade islands where there weren’t islands before. We see runways on those islands. We see anti-ship cruise missiles and other military capabilities that don’t match that rhetoric,” he added. The US Coast Guard commandant’s position jibed with the view of Defense Secretary Delfin Lorenzana, who earlier dismissed China’s narrative of seeking and fostering peace with other states claiming territories in the South China Sea, with the defense chief saying Beijing’s rhetoric belies its actions on the ground. “I would say we’ve seen places

“China talks about their peaceful conduct, but then we see manmade islands where there weren’t islands before. We see runways on those islands. We see anti-ship cruise missiles and other military capabilities that don’t match that rhetoric.”—Schultz

like Fiery Cross Reef that went from non-existent just about, to a manmade island, to now the military capabilities being present here, whether that’s fighter aircraft on the ground or not. So, we are clearly seeing a rhetoric that says no, we’re not militarizing the region in the past years, and then we see the behaviors that indicate otherwise,” Schultz said. China’s behavior, Schultz said, runs completely opposite to the multilateral effort joined by the

Locsin rejects bid to bring arbitral ruling to U.N. By Recto Mercene @rectomercene

OREIGN Affairs Secretary Teodoro L. Locsin Jr. has rejected the notion of having the Philippines go back to the United Nations to relitigate the Hague arbitral award, saying those making the suggestion may be on the payroll of Chinese intelligence, “but paid peanuts.” In a tweet on Tuesday, the outspoken DFA chief said, “The Arbitral Award is money in our pocket. I have the strongest assurance on both points from Western intelligence.” At the same time, he denied allegations that former Supreme Court Justice Francis Jardeleza had suggested the move, as cited in some reports. “And it is a lie that former SC Justice Francis Jardeleza, my immediate boss in ACCRALAW on San Miguel matters, suggested it,”Locsin said. The

Harvard-educated lawyer had once worked for one of the country’s biggest law firms, which produced several legal eagles including lawmakers Edgardo J. Angara, Franklin M. Drilon and Richard J. Gordon. “I consult him [Jardeleza] on South China Sea because he is the embodiment of patriotism and integrity. Period. I am sorely tempted to take out a contract on traitors,” Locsin posted in his official Twitter account. In July 12, 2016, a Manila daily (the Philippine Daily Inquirer) reported that “Supreme Court Associate Justice Francis Jardeleza, who led the Philippine legal team to the United Nations arbitration case over the South China Sea dispute, said the ruling favoring the Philippines ‘is final and binding’.” He said the Arbitral Tribunal ruled in favor of almost all of the submissions of the Philippines. These include

the following: ■ China’s nine-dash-line is contrary to the UN Convention on the Law of the Sea (Unclos) and has no basis in law; ■ Scarborough shoal and five other reefs named in Manila’s submission are rocks that generate no entitlements to an exclusive economic zone or continental shelf; ■ Scarborough shoal has been a traditional fishing ground for fishermen of many nationalities; ■ Mischief Reef, Second Thomas Shoal and Reed Bank are submerged at high tide, form part of the exclusive economic zone and continental shelf of the Philippines, and are not overlapped by any possible entitlement of China; ■ Reed Bank is an entirely submerged reef formation that cannot give rise to maritime entitlements; ■ China violated its obligations

under Unclos to protect and preserve the marine environment; and, ■ China has engaged in the construction of artificial islands, installations and structures at Mischief Reef without the authorization of the Philippines. Although PDI had quoted Jardeleza saying in 2016 that the Haguebased tribunal’s judgment is “final and binding,” Manila Times columnist Rigoberto Tiglao said recently that Jardeleza is proposing that the July 2016 ruling of the Hague arbitral panel be brought before the UN, as reported by his newspaper two days before. “Strangely the only one to do so,” he added. Tiglao said Jardeleza in effect echoed the insistence of former foreign affairs secretary Albert del Rosario that the Duterte government should also do the same.

850 delegates join Phitex, MICECONnect 2019 events Continued from A1

and state-of-the-art facilities like the Iloilo Convention Center make it yet another MICE-ready city in the Philippines.” Romulo Puyat said the DOT also helps tourism stakeholders “to continuously come up with affordable and competitive products and packages through education and knowledge-sharing with other government agencies, hotels and resorts, airlines, tour operators, local government units, down to the communities who benefit from tourism.” All these, she said, are complemented by the construction of a slew of tourism-related infrastructure projects under the government’s “Build, Build, Build” program, “to make sure that travel from one destination to another is convenient and pleasant for all.” During the reception dinner at the PICC Reception Hall, guests were feted with songs and dances by Philippine performers, and treated to an appetizing array of Filipino dishes. Phitex and MICECONnect are being held simultaneously from

Bacoor. . .

Foreign buyers take a tour of MICE facilities in several cities in the metro before the start of the MICECONnect 2019. In this photo, a representative of SM Hotels and Conventions Corp. shows off the features of the SMX Convention Center at SM Aura. CONTRIBUTED PHOTO

October 19 to October 28 at the Manila Marriott Hotel in Pasay City. At MICECONnect 2019, 58 international buyers to 57 local sellers will be meeting over two days, in a bid to attract more MICE bookings for the country. The buyers

Continued from A12 “The DENR is already in the hot seat because of the Manila Bay rehabilitation program and the recent fish kill. They are busy with clearing the waterways toward the bay, then we are seeing this, an opposite project, dumping of debris,” he said. According to Hicap, a former Anakpawis Party-list representative, if the ongoing activity is a public works project, it lacked the

are MICE organizers from corporations, associations, incentive houses and independent planning companies from the Americas, Europe and Asia. As part of the event’s preopening activities on Tuesday,

required publication of project details as to what it is, when and where should it be finished, how much it is worth and who is the contractor, and prior consultation to directly affected sectors. He asserted that even if it is a private activity, it should be required to secure an environmental compliance certificate (ECC) as DENR has declared Bacoor Bay as an environmentally critical area.

PhilHealth. . .

international buyers joined ocular inspections of MICE facilities at Filinvest City in Alabang, Bonifacio Global City in Taguig, Pasay, Makati and Manila. These inspections were meant to showcase the country’s preparedness for MICE, according to TPB. MICECONnect 2019 is a continuation of the Philippine MICE Conference (MICECON). The twoyear program, which began last year, provides not only comprehensive educational programs for local MICE stakeholders to learn new and effective global trends, approaches, and methods, but also business networking opportunities to help further develop the MICE industry in the country. Phitex is the largest government-organized travel trade event that provides a venue for invited foreign buyers of tourism products and services from all over the world to transact business with Philippine sellers during one-on-one scheduled appointments during the Travel Exchange. The foreign buyers are also joining post tours featuring key Philippine attractions and destinations.

Continued from A12

Investigation (NBI) earlier in October. According to the NBI’s complaint, Roberto had falsely narrated in his sworn affidavit that on March 30, 2016, the owner of a dialysis center he had worked for ordered him “to try to charge a dialysis billing amounting to P2,600 to PhilHealth claims of dead individuals.” Roberto said that the government must strengthen and “widen the scope” of its witness protection program. “We do not ask anything from the government—if this is how whistle-blowers are treated in the country, I doubt that you’ll see more of us,” Roberto said in Filipino. Jove Moya

US to continue promoting a free and open Indo-Pacific region, and which is based on “internationally accepted norms and the rules-based order.” He noted that Beijing’s expansive effort, done even through so called development initiatives, is not only limited in the region, but stretches all the way up to the Arctic. “I think if you look at China’s One Belt and Road Initiative, if you look at the Polar Silk Road Initiative, there’s clearly [some] sort of a roadmap where China’s looking at increasing its access across the globe,” Schultz said. “Recently, I was in Greenland, and China had been expressing some interest in partnering with their airport development and some possible seaport opportunities. As a US Coast Guard that operates as the sole maritime capability on an annual basis in the Arctic, we see China’s research vessel, the Snow Dragon, up there

six of the last nine years. So I think China clearly is, has some expansive intent, but I’m going to leave it limited to that,” he added. Schultz said the US Coast Guard is committed to help in building the capability of the Philippine Coast Guard through robust training and technical assistance, and even with the other coast guards in the region, but which is modeled on rules-based values and behavior. “Our long-term commitment to capacity building spans the range of Coast Guard expertise, including transferring cutters through the Excess Defense Articles program – including three former Coast Guard 378-foot High Endurance Cutters to the Philippine Navy—multinational security exercises; bilateral search and rescue and law enforcement agreements; the hosting of ship riders and deploying training teams to share technical expertise and build proficiency,” he said. Recto L. Mercene

Isko’s vow: Illegal vendors can’t return to Divisoria Continued from A1

The local chief executive maintained that the areas of Recto, Soler, Juan Luna, Blumentritt, Carriedo, Quezon Boulevard, Ramon Magsaysay, Paz, Pedro Gil, Padre Faura, Kalaw and Taft Avenue are “nonnegotiable.” “These are major thoroughfares. If we put and continue to allow obstructions in these areas, then we’ll be back again with how we started,” Moreno said. It may be recalled that the busy streets of Divisoria and other roads filled with informal hawkers were all cleared when authorities dismantled their stalls in a series of clearing operations a couple of days after the Manila mayor took his oath of office last June. They were instead moved to secondary roads. With the upcoming Holiday rush, he promised that these main thoroughfares will still be passable for the vehicles and people. “What are our preparations? Well, I cannot do something with how we are going to make Juan Luna [and others] bigger. But I can make it cleaner and more accessible. That’s the least thing that your city government can do for you,” Moreno said. For their annual Yuletide shopping spree, he advised the public to turn to Santo Cristo, Ilaya, Tabora, Carmen Planas, M. de Santos, Hidalgo, Villalobos, Raon, perpendicular roads in Blumentritt and the peripheral of Plaza Miranda where the displaced street vendors were moved to and allowed to ply their trade.

Citira. . .

Continued from A1

These job losses will come as casualties of the measure’s component on rationalization of incentives granted to firms operating in economic zones. Citira’s proponents, notably Finance Undersecretary Karl Kendrick Chua, disputed the job-loss figure and challenged the groups to substantiate it. Economic zone locators, mostly multinationals, warned they will be compelled to relocate their operations to another Southeast Asian country if their tax perks, particularly the 5-percent tax on GIE paid in lieu of all local and national taxes, are stripped from them.

Longer sunset

That’s why government economists and senators are seeking ways to make them stay. One of the options they are considering is providing economic zone firms with a longer sunset period to give up all of incentives. The House version—House Bill 4157— requires locators to give up their tax perks in two years, for those operating in Peza zones for more than 10 years; three years, for those

“Now, everybody will merge [there for their Christmas shopping]. I wish you all the best when you go there. You’re going to enjoy savings, but be ready psychologically and emotionally because they are expected to be jam-packed again. You’re cars can still pass through, though, a bit hard since the volume of vehicles will increase. But gone are the days wherein it’s really impassable,” he said. The city mayor also cautioned commuters to now avoid the area of Avenida corner Recto Avenue due to an overdue construction activity of a certain private company. “Just give me two weeks. I gave them a final warning [to finish it],” he vowed, adding that he will resort to using acetylene anew to remove their construction equipment that impedes the flow of traffic. “I will do that again if they go beyond what is being required to them. That is too much.” Moreno, likewise, admonished the public to avoid Legarda and España given the ongoing infrastructure developments there courtesy of the national government. Even if they contribute to the traffic situation in the city, he lauded these projects as they signify the latter’s trust and confidence again in the country’s capital. “I’m glad to think that they are pouring money into our city when we committed ourselves that we are going to reintegrate Manila to the national government,” the mayor said. “We have to cooperate. We have to collaborate. We have to understand each other.” Roderick L. Abad

between five years and 10 years; and five years, for those below five years. Trade Secretary Ramon M. Lopez has been pushing for the extension of the sunset period to five years at the minimum and 10 years at the maximum. On the other hand, Plaza is proposing to give Peza firms up to 15 years to cushion the impact of the lifting of their incentives. The Citira bill, which hurdled the House of Representatives in September, will reduce CIT rate to 20 percent by 2029—from 30 percent at present, the highest in the Southeast Asian region—and will rationalize tax perks of economic zone firms. With no more opposition from within official ranks, the economic managers expect smooth sailing in the legislation of the Citira bill, removing also in the process the uncertainties spooking the country’s investment climate. These jitters 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 (PSA) data. The Citira bill was formerly named Trabaho, short for Tax Reform for Attracting Better and High-Quality Opportunities, that was approved by the House but rejected by the Senate.

www.businessmirror.com.ph

The Nation BusinessMirror

LAWMAKER SEEKS INVESTIGATION INTO IMPLEMENTATION OF PWD LAW

MID reports that there are individuals who fake their disability to get a person with disability (PWD) ID, a leader of the House of Representatives on Tuesday called for an investigation into the implementation of the law expanding the benefits and privileges extended to PWDs. In a news conference, House Committee on Games and Amusement Chairman Eric Go Yap of ACT-CIS said due to the decentralized issuance of PWD IDs, there is a possibility of abuse by some unethical and imprudent individuals like those who have listed illegitimate beneficiaries. According to Yap, he recently asked 15 normal people to get a PWD ID and they successfully secured the ID after paying P2,000 to P3,000 to fixers in Manila and Quezon City. “There have been reports on individuals who fake their disability to get a PWD ID in order to enjoy PWD discounts and privileges, and on fixers giving the guarantee of the issuance of PWD IDs to those interested,” he said. “These cases of abuse challenge the essence of the law which aims to ensure that only those with legitimate disability are granted with benefits they truly deserve,” Yap added. Under Republic Act 10754, those who are issued with the

PWD ID can avail themselves of 20-percent discount and valueadded tax (VAT) exemption plus a 5 percent on basic necessities and prime commodities. Yap said the enactment of RA 10754 grants any Filipino with longterm physical, mental, intellectual, or sensory impairment which in interaction with various barriers may hinder their full and effective participation in society on an equal basis with others to get a standard identification card for PWD. “Those who wish to apply for a PWD ID need to prepare the requirements as proof of entitlement, which include a document or a certificate confirming the medical or disability condition, and submit it to the Persons with Disability Affairs Office [PDAO] of the city hall or municipal hall of residence, the City/Municipal Social Welfare and Development Office, the City/Municipal Health Office or its satellite offices, the Office of the Mayor, or the Office of the Barangay Captain,” he added. Meanwhile, Yap urged individuals who fake their disability to surrender their PWD ID to their respective local government unit to avoid facing criminal charges. “While I believe that mayors are not involved in this modus, I am urging them to review the implementation of this PWD law,” the lawmaker said. Jovee Marie N. Dela Cruz

Editor: Vittorio V. Vitug • Wednesday, October 23, 2019 A3

House members may ditch term-sharing pact between Cayetano and Velasco

By Jovee Marie N. Dela Cruz

@joveemarie

OLLOWING high approval and trust ratings in a recent survey of House Speaker Alan Peter Cayetano, lawmakers may not heed the 15-21 term-sharing agreement between Cayetano and Marinduque Rep. Lord Allan Velasco.

In a news conference, House Committee on Public Accounts Chairman Mike Defensor said changing the Speaker after 15 months may affect the passage of priority measures of the administration and the 18th Congress. Under the term-sharing agreement as recommended by President Duterte, Cayetano would occupy the Speaker post for the first 15 months, while the remaining 21 months of the 36th month of the 18th Congress will be taken by Velasco. “I never campaigned for Cayetano but I have to admit that under his leadership, the House received the highest [rating] in history. Also, the chairmen of different committees are all doing very well. So why

change it?” Defensor said. “I have nothing against the other candidates, in fact, as I have said, the leadership of the House is doing very well. We should continue the leadership of Cayetano. When you have change of leadership, it will affect our job and performance,” he added. In the same news conference, House Committee on Games and Amusement Chairman Eric Go Yap said the term-sharing agreement “was only agreement among them.” “There is no signed agreement. There should be another election, whoever [get the] votes of the majority…will be our next Speaker,” he said. For his part, Oriental Mindoro Rep. Salvador Leachon urged law-

makers to wait for the green light of the President “for after all, the term sharing emanated from him.” “As a member like me, I only wish for effective leadership to steer legislature as vital partner of the administration in carrying out people’s interests. Of course, we are proud as House members for Speaker Cayetano for his high trust rating as it also reflects, apart from his commendable management, the society’s collective and individual perception among us congressmen,” he said. “For sure, if ever the term sharing is to ensue, that will be faced by Congressman Velasco both as a challenge and inspiration. I’ve dealt and known these two great lawmakers,

and I am working very well with everyone, especially [with] our Majority Leader Martin [Romualdez] and he has been producing for the House,” Cayetano said when asked about the possibility that he may continue to serve as House Speaker after 15 months. He said Duterte, as the titular head of the supermajority, will decide his fate on the House leadership. Meanwhile, Cayetano assured Velasco that he has nothing to worry about, assuring him what is important right now is for lower chamber to pass the legislative agenda of Duterte. Earlier, Cavite Rep. Elpidio Barzaga of the National Unity Party said

I never campaigned for Cayetano but I have to admit that under his leadership, the House received the highest [rating] in history. Also, the chairmen of different committees are all doing very well. So why change it?”—Defensor and they both posses requisites of competency and industry as House leaders,” added Leachon. Earlier, Cayetano said, he would let Duterte to decide on the continuity of his leadership after 15 months as Speaker since July 2019. “We’re all focused on the job now

Cayetano’s 64-percent and 62-percent approval and trust ratings in the Pulse Asia survey “are remarkable if we consider the low marks the House received in previous Congresses.” Barzaga said the term-sharing arrangement for the position of Speaker may soon be scuttled.

A4 Wednesday, October 23, 2019 • Editor: Vittorio V. Vitug

Economy BusinessMirror

www.businessmirror.com.ph

DOE told: Conduct study on increased biodiesel blend for cheaper fuel supply

By Butch Fernandez

@butchfBM

ITING the need to absorb oversupply of the country’s copra industry, Sen. Sherwin T. Gatchalian prodded the Department of Energy (DOE) to conduct a thorough study of a proposal to increase biofuel content in diesel, widely used in public transport and cargo trucks.

Gatchalian, chairman of the Senate Committee on Energy, nudged Energy Secretary Alfonso G. Cusi to promptly convene the National Biofuels Board (NBB) to draw up a policy bolstering growth of local biodiesel production. The senator made the sugges-

tion as he presided over a finance subcommittee hearing tasked to review DOE’s proposed P2.3-billion budget for 2020. For a start, he pointed out that both the DOE and NBB need to study first the long-term feedstock availability before rendering any

decision on higher blend of coco methyl ester (CME) to diesel products, adding that “the bottom line is, let’s convene the Biofuels Board and let’s come up with an action plan. The last time you convened [the NBB] [was during] Q2 [second quarter] pero walang aksyon na lumabas.” Gatchalian reminded DOE officials “these issues have been there for a long, long time already. Iyan ang plea ng mga farmers two years ago, hanggang ngayon, iyan pa rin ang plea ng mga farmers right now. We need to address these issues kasi nagmi-meeting pero walang aksyon.” In turn, DOE officials assured that a technical working group is “already studying the feedstock and pricing problems” that continue to plague the biofuels industry. According to DOE, the Department of Agriculture’s (DA) pro-

jected coconut harvest for this year to satisfy the proposed 5 percent biodiesel blend was 1.5 billion nuts. At the same time, the DOE also took a swipe at the DA for its failure to come up with a clear intervention on increasing the number and quick replacement of harvested coconut trees in the country. Still, DOE officials assured Gatchalian’s subcommittee hearing they had been “coordinating with the DA” on how they would be able to help them grow their coconut production. But Gatchalian lamented he w a s “get t i ng m i xed sig n a l s” from DOE and DA officials. “Ang sinasabi ng DA, there’s supply at ang sabi nila ay ayaw lang ng DOE dahil tataas iyong presyo. But the DOE is saying walang supply,” the senator said, adding: “Again, I urge the department to convene the NBB and

then come up with an action plan. Then we will also convene the oversight so that we can already push for reforms and push for actions.” The senator, citing a study by his office, estimated that increasing the biofuel content in diesel from B2 to B5 may result in a 1.09-percent increase. He pointed out that an ordinary jeepney driver, who consumes around 15 liters of diesel per day, might need to tighten his belt further since he will be expected to shell out an additional P250.76 per month if the blend is increased, an amount, Gatchalian said, could instead be used to buy a 5 to 6 kilograms of wellmilled rice. Meanwhile, he added, data from the DOE show that for biodiesel, the annual capacity in 2017 was 574.9 million liters, but production was only at 39 percent capacity.

TUCP warns of disastrous effect of 2-yr probie bill By Samuel P. Medenilla @sam_medenilla

HE countr y’s largest lab or g roup on Tuesd ay warned more Filipino workers may just opt to leave for overseas jobs with the proposed extension of “probationary period” from six

months to two years. In a news statement, Trade Union Congress of the Philippines (TUCP) President Raymond Mendoza said this will be the outcome with the passage of Probinsyano Ako Partylist Rep. Jose “Bonito” Singson Jr.’s House Bill 4802. “Under the kind of current

working conditions that we have, 6,000 to 7,000 Filipinos are leaving every day to work abroad,” Mendoza said. “If we allow this proposal become a law, the number of Filipinos wanting to work abroad will rise, resulting to greater ‘brain drain’ with more children and families

to suffer,” he added. TUCP reiterated its opposition against the bill, which it said, is contrary to the intent of President Duterte goal to eliminate widespread contractualization where workers tend to suffer short-term employment with minimal work benefits. Mendoza said HB 4802 is practically the antithesis of Duterte’s pronouncement since it “empowers abusive employment and business practice with a larger latitude and longer contractualization shortterm work scheme.” No less than the Department of Labor and Employment (DOLE), some lawmakers and even Malacañang already expressed its opposition against the bill. Labor coalition Paggawa echoed

TUCP’s push against contractualization and HB 4802. It is now demanding for the passage of the security of tenure (SOT) bill, which will protect workers against such “anti-worker policies” with the prohibition of all forms of contractualization. “[Labor] Secretary [Silvestre H.] Bello cannot fulfill his mandate of fostering industrial peace if he heeds President Duterte’s marching order to give employers the unrestricted power to determine which activities can be contracted out,” the Bukluran ng Manggagawang Pilipino said in a separate statement. To recall, Duterte ordered DOLE to craft a new version of the SOT bill after he vetoed its 17th Congressversion, for supposedly being too disadvantageous to employers.

Let’s stick to 3R’s, biodegradable materials to fight plastic pollution–DOST officials By Jonathan L. Mayuga @jonlmayuga

N top of producing environment-friendly packaging materials, researchers need to help manufacturers come up with ways to reduce, reuse and recycle (3R), to address the biggest challenge posed by global plastic pollution, officials of the Department of Science and Technology (DOST) said. Rowena Cristina L. Guevara, undersecretary for Research and Development of the DOST, said there is a need to create a balance to ensure sustainability, including reducing food waste and spoilage, consumer safety and more important, the production of environment-friendly packaging materials and proper disposal. Guevara was guest of honor and speaker during the opening ceremonies of the two-day International Packaging Symposium organized by Packaging Technology Division (PTD) of the Industrial Technology Development Institute (ITDI) of the DOST and Asia Packaging Network (APN) at the Dusit Thani Hotel in Makati City. Interviewed by the BusinessMirror, she said it is not enough to know that packaging creates a lot of garbage that also causes flood. “We need root-cause analysis. At the end of the day, there must be a balance. Our problem is not packaging. Our problem is discipline. If we can only reuse,

recycle, then we will have no problem with garbage,” Guevara said. Beyond producing environmentfriendly packaging materials like biodegradable plastic and identifying alternative raw materials appropriate to replace plastics, she said, there is a need for scientists and researchers to engage the private sector for it to invest more and address the problem caused by poor packaging materials and more important the improper disposal of plastic wastes. Guevara said the DOST-ITDI has, in fact, already developed biodegradable plastic from natural materials and is looking for a partner who will manufacture these biodegradable plastics. “We already have biodegradable plastic. It is available for technology transfer,” she said. Guevara said the technology was a product of four years of research and development headed by DOSTITDI Materials Science Division chief Dr. Blessie Basilia. According to Guevara, the DOST, through ITDI, is willing to fund research and development to ensure sustainability in the manufacturing sector through improved packaging materials, particularly for food safety and consumer safety in the packaging of various consumer products. For one, she said researchers should be able to offer solutions that will help reduce food waste, extend the life of food products, avoid spoilage for the agriculture sector.

Mayor bares new tack to hike investments in Pasay City By Claudeth Mocon-Ciriaco Correspondent

ASAY City Mayor Emi Calixto-Rubiano has expressed optimism that major business players will hike their investments in the city in the coming days with her new policy on Ease of Making Investment (EMI). Calixto-Rubiano noted that among the major aspects of her EMI policy is “full automation” and “updating of the processes” related to ease of doing business in Pasay, as well as the operation of one stop-shops of these processes. The lady mayor is one of the principal authors of the Ease of Doing Business Act (Republic Act 11032) during her stint as Pasay City representative in Congress. In her recent “Ulat sa Bayan” speech that coincided with her 100th day in office, Calixto-Rubiano promised to make Pasay City more business-friendly, as she expressed confidence that the city will register record growth in the coming years. “Transactions will be done in one office only and the business permit will be released immediately,” Calixto-Rubiano said. C a l i x to -Rubi a no f u r t her said the maintenance of peace and order is “vital in ensuring a vibrant business climate” and this is being addressed through her measures of enabling active cooperation of the Pasay City residents, especially with coordination and problem solving at the grassroots level. “Peace, order, safety and security are my top priorities,” she added. The Pasay City government under her leadership, she added, is implementing necessary measures for efficient traffic management to facilitate the movement of goods and people, which are essential to businesses. “We are among the most bustling and progressive cities in the entire country. Let us dream and work for a better Pasay,” CalixtoRubiano said as she assured the effective implementation of RA 11032 in Pasay City to help businesses thrive, while establishing job generation for local residents. For his part, Hans T. Sy, chairman of the executive committee of SM Prime, said that the partnership between SM and Pasay is “very deeply rooted already” and that the fellowship of businessmen hosted by Calixto-Rubiano really “gives me the affirmation that we will continuously be putting more investments.” Meanwhile, Alfred Ty, chairman of Federal Land Inc., said that the open arms policy of the Pasay City government should be “emulated by every other city and see how it can prosper in a very collaborative manner.” Dean Y. Cid, general manager of Microtel Mall of Asia, said: “It’s a positive sign that Mayor Emi is in support of the businesses.” Also present in the event hosted by Calixto-Rubiano and her brother, Rep. Antonino Calixto, were officers of Associated Anglo-American Tobacco; Conrad Hotels; DD Meridian Park; Fil-Chinese Chamber of Commerce; Hilton Hotel; Land Bank of the Philippines; Liwayway/Oishi; Maynilad; Megaworld; Meralco; Metropoint Ayala Mall; Midas Hotel and Casino; Pasay City Chamber of Commerce; Philippine National Bank; Resorts World Manila; Salem Investment Corp.; Sheraton Hotel; Sofitel Philippine Plaza; Star City Corp.; the Heritage Manila; and Toyota Philippines.

www.businessmirror.com.ph

Banking&Finance BusinessMirror

Shuttered Pogo vows paying BIR so it can resume business

Philippine Offshore Gaming Operator (Pogo) firm agreed to pay tax liabilities so that it can resume operations of its shuttered branches in Pasay and Parañaque cities, the Bureau of Internal Revenue (BIR) reported last Tuesday. The BIR said Altech Innovations Business Outsourcing made an initial payment of P8.2 million on Monday for the lifting of its suspension. The Pogo and its branch in Pasay City was raided by the tax agency last Thursday. In a statement, the BIR said that Altech Innovations promised to pay the remaining balance of P37 million in November and December. The company also promised to update its 2019 income tax payments, according to the BIR. Based on the BIR’s assessment, Altech Innovations has employed around 300 to 390 foreign workers, mostly Chinese. According to BIR Deputy Commissioner Arnel SD. Guballa, the P45-million settlement requirement only accounted for the employees’ income taxes and not the company’s liability for violating the value-added tax registration. “The problem with these foreign workers, they have this ‘come and go’ scheme; that’s why you can’t really determine their tax liabilities,” Guballa said citing information from the Philippine Amusement and Gaming Corp. (Pagcor), the Department of Labor and Employment (Dole), as well as the Bureau of Immigration. Guballa also said Altech Innovations operated its branch in Pasay City for only around three to four months in 2018. The BIR has to validate such data with those provided by other government agencies. “Reconciliation and substantiation of records are ongoing,” he added. Guballa also warned tax-delinquent Pogo firms that the BIR’s crackdown against illegal Pogo operations continue, adding that they will maintain the “element of surprise” in conducting raids. Earlier, Guballa said the government’s enforcement activity against tax evading Pogo service providers will intensify until they get rid of noncompliant online casinos operating in the country. “We want to tell them, these service providers, that in the Philippines, they should comply with the tax laws,” Guballa said after the BIR shuttered Altech Innovations’ two branches. As of this writing, the BIR has already monitored 218 Pogo service providers with 108,914 foreign national employees. Jove Moya

Proposed 5% franchise tax on Pogos gets DOF support

HE proposed imposition of an additional 5-percent franchise tax on revenues generated by Philippine Offshore Gaming Operators (Pogos) has gained support from the Department of Finance (DOF).

The proposal was earlier submitted by Rep. Jose Ma. Clemente S. Salceda, chairman of the House Ways and Means Committee. According to Finance Secretary Carlos G. Dominguez III, the DOF backed the proposal even if there’s an existing revenue rule that already subject Pogos to a 5-percent franchise tax on gross receipts.

“Yes, I have not seen the exact proposal but, in general, yes I think that is a good idea,” Dominguez was quoted in a statement as saying. “But they are already paying a fee; a fee for that.” Revenue Memorandum Circular 102-2017 by the Bureau of Internal Revenue (BIR) subjects “the entire gross gaming receipts, earnings or the

Trailing shares

agreed or pre-determined minimum monthly revenues from gaming operations under existing rules, whichever is higher, …to a franchise tax of 5 percent in lieu of all kind of taxes, levies, fees or assessments of any kind, nature or description.” But aside from the franchise tax, Salceda said he is also proposing a gaming tax of $10,000 a month per table for a live setup casino and a $5,000 a month gaming tax for random number generator-based games. The proposal also aims to register Pogos as resident corporations as basis for taxability. He also wants government to impose at least $1,000 presumptive corporate income tax per seat for Pogos. The BIR has reported it has so far collected P1.63 billion in withholding taxes

from Pogos and their service providers covering the period January to August. These online gaming firms paid P175 million in withholding taxes in 2017 and P579 million in 2018. BIR Deputy Commissioner Arnel SD. Guballa said the agency has so far listed 218 Pogos and their service providers with a total of 108,914 foreign workers. The BIR earlier ordered the temporary closure of the operations of the Great Empire Gaming and Amusement Corp. (Gegac) on September 25 for its failure to pay the correct amount of taxes. Gegac initially paid P250 million and issued an undertaking to settle remaining tax arrears of P1.050 billion in three separate monthly payments covered by postdated checks. After that, the BIR allowed Gegac to resume operations last September 27. Jove Moya

China has a new plan for P2P industry: Small-time lending

T was once a roughly $150-billion industry—an innovative marketplace where individuals could lend to each other. But after years of fraud, defaults and few investor safeguards, China’s regulators are embarking on a plan to radically transform its peer-topeer (P2P) lenders. Authorities in Beijing are working with local officials on guidelines that would convert qualified online lenders into small-loan companies, Zhu Shumin, vice chairman of the China Banking and Insurance Regulatory Commission (CBIRC), said Monday. Firms that don’t fulfill current requirements will be

pushed to exit the industry, he said, without providing more details. The changes are the latest moves to rein in, and perhaps kill off, China’s P2P sector. As policy-makers cracked down on financial risk, they zeroed in on the lenders, whose customers were predominantly individual investors who could suffer ruin if things went wrong. Zhu didn’t say how widely the CBIRC’s plans, which it’s working on alongside the central bank, would affect the industry. Converting P2P platforms into small-loan providers would force them to comply with rules on capital requirements and leverage

UBS gets a boost from wealthy Asians as investment bank trails BS Group AG got a boost from rich Asian clients in a quarter hit by a poor result at the investment bank and lower income from lending as interest rates have languished. The key wealth management unit added $15.7-billion new money in the three months through September, most of that from Asia, helping lift assets overseen for the affluent to a record $2.5 trillion, UBS said last Tuesday. While profit beat analysts’ estimates, UBS said it will book a roughly $100-million charge in the fourth quarter to restructure the securities unit, and warned that lower interest rates will continue to squeeze income. “Market conditions in the last few quarters have been very challenging,” CEO Sergio Ermotti said in an interview with Bloomberg TV. That’s particularly true for the investment bank, which is “much more skewed toward Europe and Asia” than the US. Ermotti is seeking to turn the corner after a year marred by huge legal fines, questions about succession planning and a slump in the share price. In August, he shook up the management board, hiring former Credit Suisse Group AG banker Iqbal Khan to co-run the wealth management unit and positioning him as a potential successor. But Khan’s start at UBS was overshadowed by a spying scandal that exposed a deep rift with his former boss. UBS was one of the first banks to pivot away from investment banking and toward wealth management after the financial crisis, becoming a model for rivals including Credit Suisse. Still, increasing competition for rich clients, negative interest rates and a slowing economy are putting pressure on that business. UBS said in August that it would expand a policy of charging affluent clients for excess cash holdings. Clients will start feeling the impact on November 1 when the policy comes into effect.

Wednesday, October 23, 2019 A5

UBS rose 2.1 percent at 9:06 a.m. in Zurich trading. Before today, shares of the lender had lost 6.5 percent this year, compared with a gain of 15 percent at Credit Suisse, where a three-year restructuring modeled on UBS’s pivot to private banking is beginning to bear fruit. To lift the stock, UBS has earmarked $2 billion for share buybacks through 2020. It is nearing its $1-billion target in buybacks this year. “UBS continues to have the best wealth management franchise, best business mix in a new regulatory regime,” analysts Kian Abouhossein and Amit Ranjan at JPMorgan Chase & Co. wrote in a note. “Although the investment bank performance is relatively weak compared to US peers, we have to take into account” the geographic and business focus of the bank. Global wealth management is by far the biggest of UBS’s units, contributing more than twice as much revenue and pretax profit last year as the investment bank. A prolonged period of low rates are eating into earnings from lending, with net interest income at the business declining about 3 percent from a year earlier, and recurring fee income falling as well. The asset management unit, which caters to less wealthy investors and institutions, won $24.1 billion in long-term net inflows, a rare bright spot. Ermotti said Tuesday that he asked Khan to assess the wealth management franchise and, along with co-head Tom Naratil, report back to him with ideas to improve it by December. Khan, in a memo to employees after he started this month, pointed to “unrealized potential” within the wealth management business. Key will be his take on developing UBS’s offering to wealthy clients in Asia, a region that wasn’t under his control at Credit Suisse and which attracted the bulk of the inflows last quarter. Khan is running the business alongside Naratil, who focuses on

the Americas. He joined under a cloud after it emerged that Credit Suisse had private investigators follow him to make sure he didn’t try to encourage others to defect. The scandal exploded onto the front pages of local tabloids and exposed a personal feud between Khan and his former boss, Tidjane Thiam. One of Thiam’s key lieutenants left the bank after he was found responsible for ordering the surveillance.

Trading unit

ERMOTTI is also making changes to the investment bank, reshuffling senior management and combining trading operations in changes that may ultimately eliminate hundreds of positions, people with knowledge of the plan have said. The bank is cutting about 40 jobs in the AsiaPacific region as part of the shakeup, a person familiar with the matter has said. The restructuring should save the bank about $90 million annually, Ermotti said in an interview with Bloomberg TV, adding that job losses won’t be significant. Adjusted pretax profit at the unit fell 59 percent from a year earlier, as the bank earned less from advising on deals, as well as from trading. Equities trading revenue declined almost 7 percent, compared with a gain of about 1 percent at the five biggest Wall Street firms. UBS is seeking to boost collaboration between dealmakers and its wealthmanagement unit, while sharpening a focus on industries most of interest to its richest clients. The bank has had a rocky year so far. It was dealt a $5-billion penalty in a French tax case in February that it intends to appeal. After warning of a difficult market in the first quarter, it announced $300 million in additional cost cuts. Ermotti previously signaled that the bank may struggle to reach its 15percent adjusted return on tangible equity capital, instead saying that the bank could achieve a level on par with last year’s 13-percent return. Bloomberg News

that other lenders have to follow, said George Xu, an analyst at Moody’s Investors Service. “It is in line with government policies to rein in the P2P industry and improve transparency,” he said. Decline had already set in for the once-thriving industry. More than 1,200 online lenders have exited the market this year, leaving just 462 platforms, Zhu said Monday. As of September, the value of outstanding online loans was down 48 percent from the beginning of the year, he said. Alarmed by surging defaults, fraud and investor anger, authorities have been working for years on plans to wind down small- and

medium-sized P2P lending platforms nationwide. The lenders attracted heightened scrutiny as part of President Xi Jinping’s crackdown on unsavory behavior throughout the finance industry, including the darkest corners of shadow banking. Online lending became popular in China after a tightening of bank credit in 2010 followed two years of stimulus spending to counter the global financial crisis. Scant oversight of P2P platforms allowed for massive growth, with outstanding loans ballooning from almost nothing in 2012 to 1.1 trillion yuan ($155 billion) by May 2018. Bloomberg News

BusinessMirror

A6 Wednesday, October 23, 2019 Republic of the Philippines

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

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. ZHANFENG WANG/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. ZHIYI CHEN/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. GUOWEN ZHU/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. XIAOMIN CHEN/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. WENLONG HU/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. QINGQIU CHEN/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. SHUNE CHEN/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. FEIXIANG LIN/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. YANGYANG TIAN/ Chinese

Chinese Customer Service Representative

BOJIE MANUFACTURING CORPORATION FCIE, SEZ, Langkaan, Dasmariñas City, Cavite

MR. FULIN LI / Chinese

Section Chief of Warehouse Department

BOJIE MANUFACTURING CORPORATION FCIE, SEZ, Langkaan, Dasmariñas City, Cavite

MS. NAYING CHEN / Chinese

Section Chief of Quality Control Department

BOJIE MANUFACTURING CORPORATION FCIE, SEZ, Langkaan, Dasmariñas City, Cavite

MR. SHIBIN LI / Chinese

MR. KENJI OSAKI / Japanese

October 23, 2019

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

Name and Citizenship of Foreign National

Position and Brief Description of Functions

www.businessmirror.com.ph

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. JIAJIA ZHOU/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. KAIWEN LANG/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. GANG YANG/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. JIE CHEN/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. HONGFEI ZHANG/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. FULAI LI/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. CHANGMEI DUAN/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. JUN ZHANG/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. ZHAO TAN/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. CHENGGAO HUANG/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. CHONG XU/ Chinese

Chinese Customer Service Representative

PHILIPPINE THERMOTECH MANUFACTURING CORP. Sta. Anastacia, Santo Tomas, Batangas

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. YU DAI/ Chinese

Chinese Customer Service Representative

UMT ECO TRADING INC. 116 Molino Road, Brgy Ligas 1, Bacoor, Cavite

MR. YONGCHANG SHAO / Chinese

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. SILING ZHOU/ Chinese

Chinese Customer Service Representative

UMT ECO TRADING INC. 116 Molino Road, Brgy Ligas 1, Bacoor, Cavite

MR. RENDAN ZHANG / Chinese

Metal Scrap Sorter

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. HAIYONG JIANG/ Chinese

Chinese Customer Service Representative

UMT ECO TRADING INC. 116 Molino Road, Brgy Ligas 1, Bacoor, Cavite

MR. RENXING FU / Chinese

Metal Scrap Sorter

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. ZHONGYANG CHEN/ Chinese

Chinese Customer Service Representative

CEBU YMTECHNOLOGY INC. CEZ, Rosario, Cavite

MR. HIROKAZU TANAKA / Japanese

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. CHUNLIAN LIN/ Chinese

Chinese Customer Service Representative

CEBU YMTECHNOLOGY INC. CEZ, Rosario, Cavite

MR. AKIRA SAKASAI / Japanese

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. YAMEI LIU/ Chinese

Chinese Customer Service Representative

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

MR. FEI WANG/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. SIYUAN HE/ Chinese

Chinese Customer Service Representative

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

MR. CHOUBAO TAO/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. JUNCANG YUAN/ Chinese

Chinese Customer Service Representative

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

MR. WEI LIU/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. XIANG LIANG/ Chinese

Chinese Customer Service Representative

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

MR. KAI HU/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. FENLIANG GUAN/ Chinese

Chinese Customer Service Representative

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

MR. NAN WANG/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. SHUANGXIONG SONG/ Chinese

Chinese Customer Service Representative

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

MR. ZE CHEN/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. CONG WANG/ Chinese

Chinese Customer Service Representative

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

MR. LIANG SUN/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. XUBIN CHEN/ Chinese

Chinese Customer Service Representative

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

MR. WEIXING ZHANG/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. QIANG WEI/ Chinese

Chinese Customer Service Representative

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

MR. QINGYANG DI/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. HAIYI LI/ Chinese

Chinese Customer Service Representative

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

MS. MIAO YU/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. ZEXIN ZHAN/ Chinese

Chinese Customer Service Representative

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

MR. SHAOGUO ZHANG/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. XIAO LIU/ Chinese

Chinese Customer Service Representative 66

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

MR. ZHOU LI/ Chinese

Chinese Customer Service Representative

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

MR. ZONGTAO FANG/ Chinese

Chinese Customer Service Representative

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

MR. XIAOFEI ZHANG/ Chinese

Chinese Customer Service Representative

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

MR. JIE LI/ Chinese

Chinese Customer Service Representative

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

MR. WENWEI LIAO/ Chinese

Chinese Customer Service Representative

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

MR. JIANGWEI SUN/ Chinese

Chinese Customer Service Representative

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

MS. CHUNYING YAN/ Chinese

Chinese Customer Service Representative

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

MR. JIN YU/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. JUN ZHOU/ Chinese MR. CHENGDOU LIU/ Chinese MR. QIQI LI/ Chinese MR. JIAN ZHANG/ Chinese MS. HONGXIA CAI/ Chinese

Chinese Customer Service Representative Chinese Customer Service Representative Chinese Customer Service Representative Chinese Customer Service Representative Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. XIUFEI TANG/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MR. LI CHEN/ Chinese

Chinese Customer Service Representative

MOA CLOUDZONE CORP. Brgy. Binakayan, Kawit, Cavite

MS. YING CHEN/ Chinese

Chinese Customer Service Representative

Section Chief of Machine Department

Vice President

Purchasing Manager

Production Assistant Manager General Manager Manufacturing Division

BusinessMirror

www.businessmirror.com.ph

Name and Address of Company/Employer

Name and Citizenship of Foreign National

Position and Brief Description of Functions

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

MR. ZHUANG ZHANG/ Chinese

Chinese Customer Service Representative

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

MR. GUIHUI CHEN/ Chinese

Chinese Customer Service Representative

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

MS. YANHUA ZHAO/ Chinese

Chinese Customer Service Representative

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

MR. LIWEN WEI/ Chinese

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

Name and Address of Company/Employer

Wednesday, October 23, 2019 A7

Name and Citizenship of Foreign National

Position and Brief Description of Functions

CHINA SOUTHEAST ASIA ELECTRIC POWER 110 CONSTRUCTION CORPORATION San Rafael, Calaca, Batangas

MR. MANYI ZHENG/ Chinese

CHINA SOUTHEAST ASIA ELECTRIC POWER 111 CONSTRUCTION CORPORATION San Rafael, Calaca, Batangas

MR. YOUJUN LI/ Chinese

Boiler Fabrication Supervisor

Chinese Customer Service Representative

CHINA SOUTHEAST ASIA ELECTRIC POWER 112 CONSTRUCTION CORPORATION San Rafael, Calaca, Batangas

MR. QIUSHUANG ZHANG/ Chinese

Boiler Fabrication Supervisor

MR. FANG CHEN/ Chinese

Chinese Customer Service Representative

BANDAI NAMCO PHILIPPINES INC. 113 Lima Technology Center, Lipa City, Batangas

MR. ZENZO WATANABE/ Japanese

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

MR. JIAPU FAN/ Chinese

Chinese Customer Service Representative

MR. FENG LYU/ Chinese

Boiler Fabrication Supervisor

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

MR. PENGSHENG ZHAO/ Chinese

Chinese Customer Service Representative

CHINA SOUTHEAST ASIA ELECTRIC POWER 114 CONSTRUCTION CORPORATION San Rafael, Calaca, Batangas

Quality Control Supervisor

MS. HONGYAN CAI/ Chinese

Chinese Customer Service Representative

MR. YAN WANG/ Chinese

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

CHINA SOUTHEAST ASIA ELECTRIC POWER 115 CONSTRUCTION CORPORATION San Rafael, Calaca, Batangas

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

MS. JINTING XIA/ Chinese

Chinese Customer Service Representative

CHINA SOUTHEAST ASIA ELECTRIC POWER 116 CONSTRUCTION CORPORATION San Rafael, Calaca, Batangas

MR. CHUANG RONG/ Chinese

Welding Supervisor

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

MR. GUANGXU YUAN/ Chinese

Chinese Customer Service Representative

MR. ZHIHUI GUO/ Chinese

Welding Supervisor

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

CHINA SOUTHEAST ASIA ELECTRIC POWER 117 CONSTRUCTION CORPORATION San Rafael, Calaca, Batangas

MR. SHUIPING WU/ Chinese

Chinese Customer Service Representative

Welding Supervisor

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

MR. DAIYING WANG/ Chinese

MS. TING LI/ Chinese

Chinese Customer Service Representative

CHINA SOUTHEAST ASIA ELECTRIC POWER 118 CONSTRUCTION CORPORATION San Rafael, Calaca, Batangas

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

MR. DICKY NGU LIE RUNG/ Malaysian

Chinese Customer Service Representative

CHINA SOUTHEAST ASIA ELECTRIC POWER 119 CONSTRUCTION CORPORATION San Rafael, Calaca, Batangas

MR. XIANXING HU/ Chinese

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

MR. XIANGWANG HE/ Chinese

Chinese Customer Service Representative

CHINA SOUTHEAST ASIA ELECTRIC POWER 120 CONSTRUCTION CORPORATION San Rafael, Calaca, Batangas

MR. YUEMING SONG Chinese

Boiler Fabrication Supervisor

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

MR. YUANFENG QIU/ Chinese

Chinese Customer Service Representative

MR. WEIBO WANG/ Chinese

Boiler Fabrication Supervisor

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

MR. FENG SUN/ Chinese

Chinese Customer Service Representative

CHINA SOUTHEAST ASIA ELECTRIC POWER 121 CONSTRUCTION CORPORATION San Rafael, Calaca, Batangas

MS. LI JI/ Chinese

Chinese Customer Service Representative

MR. LIANQUAN WANG/ Chinese

Boiler Fabrication Supervisor

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

CHINA SOUTHEAST ASIA ELECTRIC POWER 122 CONSTRUCTION CORPORATION San Rafael, Calaca, Batangas

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

MR. ZHANGDONG FAN/ Chinese

Chinese Customer Service Representative

CHINA SOUTHEAST ASIA ELECTRIC POWER 123 CONSTRUCTION CORPORATION San Rafael, Calaca, Batangas

MR. HAILONG WANG/ Chinese

Boiler Fabrication Supervisor

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

MR. HONGLI LI/ Chinese

Chinese Customer Service Representative

MR. WEIDONG TIAN Chinese

Safety Supervisor

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

CHINA SOUTHEAST ASIA ELECTRIC POWER 124 CONSTRUCTION CORPORATION San Rafael, Calaca, Batangas

MR. RUIAN YU/ Chinese

Chinese Customer Service Representative

Quality Control Supervisor

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

MR. ZHIGUO WANG/ Chinese

MS. XIAOYUN LUO/ Chinese

Chinese Customer Service Representative

CHINA SOUTHEAST ASIA ELECTRIC POWER 125 CONSTRUCTION CORPORATION San Rafael, Calaca, Batangas

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

MR. HAO WANG/ Chinese

Chinese Customer Service Representative

CHINA SOUTHEAST ASIA ELECTRIC POWER 126 CONSTRUCTION CORPORATION San Rafael, Calaca, Batangas

MR. MING ZHAI/ Chinese

Boiler Fabrication Supervisor

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

MS. LI LIU/ Chinese

Chinese Customer Service Representative

MR. GUOFU ZHOU/ Chinese

Boiler Fabrication Supervisor

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

CHINA SOUTHEAST ASIA ELECTRIC POWER 127 CONSTRUCTION CORPORATION San Rafael, Calaca, Batangas

MS. QIN OU/ Chinese

Chinese Customer Service Representative

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

MR. WU ZHANG/ Chinese

MR. SHANGYE SUN/ Chinese

Chinese Customer Service Representative

CHINA SOUTHEAST ASIA ELECTRIC POWER 128 CONSTRUCTION CORPORATION San Rafael, Calaca, Batangas

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

MS. HAONING YUAN/ Chinese

Chinese Customer Service Representative

CHINA SOUTHEAST ASIA ELECTRIC POWER 129 CONSTRUCTION CORPORATION San Rafael, Calaca, Batangas

MR. WENZHANG TAO/ Chinese

SMART WIN TECHNOLOGY, INC. 100 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. HONGTAO LIAO/ Chinese

Chinese Customer Service Representative

CHINA SOUTHEAST ASIA ELECTRIC POWER 130 CONSTRUCTION CORPORATION San Rafael, Calaca, Batangas

MR. YUCHI LI/ Chinese

Quality Control Supervisor

SMART WIN TECHNOLOGY, INC. 101 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. PANBAN CHEN / Chinese

Chinese Customer Service Representative

MR. QUANFU YU/ Chinese

Quality Control Supervisor

SMART WIN TECHNOLOGY, INC. 102 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. HAO WANG/ Chinese

Chinese Customer Service Representative

CHINA SOUTHEAST ASIA ELECTRIC POWER 131 CONSTRUCTION CORPORATION San Rafael, Calaca, Batangas

SMART WIN TECHNOLOGY, INC. 103 4-12F Southwoods Tower 2, Biñan City, Laguna

MS. SHUJUAN WANG/ Chinese

Chinese Customer Service Representative

CHINA SOUTHEAST ASIA ELECTRIC POWER 132 CONSTRUCTION CORPORATION San Rafael, Calaca, Batangas

MR. HONGFENG LI/ Chinese

SMART WIN TECHNOLOGY, INC. 104 4-12F Southwoods Tower 2, Biñan City, Laguna

MS. SHA TENG/ Chinese

Chinese Customer Service Representative

CHINA SOUTHEAST ASIA ELECTRIC POWER 133 CONSTRUCTION CORPORATION San Rafael, Calaca, Batangas

MR. DI WANG/ Chinese

Welder Supervisor

SMART WIN TECHNOLOGY, INC. 105 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. MAOLIN CHI/ Chinese

Chinese Customer Service Representative

CHINA SOUTHEAST ASIA ELECTRIC POWER 134 CONSTRUCTION CORPORATION San Rafael, Calaca, Batangas

MR. HAISHENG DONG/ Chinese

Welding Supervisor

CHINA SOUTHEAST ASIA ELECTRIC POWER 106 CONSTRUCTION CORPORATION San Rafael, Calaca, Batangas

MR. HENG CHEN/ Chinese

Quality Control Supervisor

CHINA SOUTHEAST ASIA ELECTRIC POWER 135 CONSTRUCTION CORPORATION San Rafael, Calaca, Batangas

MR. JIHONG CHEN/ Chinese

Site Supervisor

CHINA SOUTHEAST ASIA ELECTRIC POWER 107 CONSTRUCTION CORPORATION San Rafael, Calaca, Batangas

MR. KAI TIAN/ Chinese

Quality Control Supervisor

CHINA SOUTHEAST ASIA ELECTRIC POWER 136 CONSTRUCTION CORPORATION San Rafael, Calaca, Batangas

MR. ZHIJUN SONG Chinese

Boiler Fabrication Supervisor

CHINA SOUTHEAST ASIA ELECTRIC POWER 108 CONSTRUCTION CORPORATION San Rafael, Calaca, Batangas

MR. YONGKUAN SUN/ Chinese

Boiler Fabrication Supervisor

CHINA SOUTHEAST ASIA ELECTRIC POWER 137 CONSTRUCTION CORPORATION San Rafael, Calaca, Batangas

MR. LONGCHUN CHEN/ Chinese

CHINA SOUTHEAST ASIA ELECTRIC POWER 109 CONSTRUCTION CORPORATION San Rafael, Calaca, Batangas

MR. YINGJIU SHANG/ Chinese

Boiler Fabrication Supervisor

CHINA SOUTHEAST ASIA ELECTRIC POWER 138 CONSTRUCTION CORPORATION San Rafael, Calaca, Batangas

MR. LIXU CUI/ Chinese

Insulator Supervisor

Import Export Manager

Quality Control Supervisor

Site Manager

Insulator Supervisor

Site Supervisor

A8 Wednesday, October 23, 2019

News

BusinessMirror

Manila grants tax perks to lure businesses back to PHL capital

By Claire Jiao | Bloomberg

revenue and lure businesses. He also opened a one-stop shop in city hall to process business permits in a day. Manila City is trying to lure back investors even as President Rodrigo Duterte’s government is seeking to grant incentives to industries outside the capital region, which includes Manila. Domagoso, who beat ex-President Joseph Estrada in the 2019 elections, has met with tycoons and diplomats at the start of his

150 MILF members training jointly with policemen, soldiers By Manuel T. Cayon

HE Philippine capital is granting tax perks as it seeks to restore the historic city to its glory, Mayor Francisco Domagoso said in his speech before businessmen.

Companies that build along Escolta Street in the country’s old business district will be exempted from business and real-property taxes for 15 years, Domagoso said in a speech at the Management Association of the Philippines event Tuesday. Domagoso, a former actor who also goes by the name Isko Moreno, is offering a tax amnesty program until December and cutting incremental real-property taxes by 20 percent starting 2020 to boost

www.businessmirror.com.ph

D McDonald’s President and CEO Kenneth Yang (left) and Manila Mayor Francisco “Isko” Domagoso (second left) are joined by DOLE-NCR Assistant Regional Director Erwin Narag Aquino at the recent MOA signing between Manila City Hall and Golden Arches Development Corp. for the employment of PWDs and senior citizens in 40 McDonald’s stores in Manila. ROY DOMINGO

three-year term to win their confidence and secure investments for Manila. The city was the Philippines’s center of commerce since the Spanish occupation more than 400 years ago until it was heavily bombed during the Second World

War and later eclipsed by new business districts, like Makati and Ortigas. The mayor said he’s focusing on “simple” changes to transform the capital city, including clearing roads, lighting up streets and refurbishing parks.

@awimailbox Mindanao Bureau Chief

AVAO CITY—Some 150 members of the Bangsamoro Islamic Armed Forces, the armed component of the Moro Islamic Liberation Front (MILF), participated in the Joint Peace and Security Teams (JPST) training that started on Monday in Parang, Maguindanao. The training is aimed at providing security to many areas controlled by the MILF while the organization continues to decommission its more than 40,000 fighters. The trained MILF members will also be expected to assist in documenting private armies and other armed groups, and help government security forces reduce the proliferation of loose firearms. They will also be expected to help maintain the cease-fire and end politically-motivated violence, as well as provide security personnel for activities related to peacekeeping and conflict resolution. The training is being held in Camp Gen. Salipada K. Pendatun in Parang, and the MILF were joined by 96 police-

men and 77 military personnel. The trained MILF will also be assigned to different areas that were already mutually agreed upon by the government and the MILF to support the peace and order and stability in the said areas. Bangsamoro government Environment Minister Abdulraof Macacua has urged the people to support the sustainability of peace and order. “Ang pagtitipon na ito ay nagpapatunay lamang na tunay na makapangyarihan ang tinatawag nating kapayapaan [This gathering illustrates how powerful peace is],” he said. In the keynote address read by Macacua, Chief Minister Ahod Ebrahim said “in our previous experience, we have to treat this transition test as another chapter of Bangsamoro struggle. “As warrior of peace, we are obliged to do our best in any task before us including attentive participation in this training, In Shaa Allah.” Ebrahim added, “I look forward to the beneficial experience for our participants and I pray that our learning will help our people in preserving peace for the Bangsamoro.”

Agriculture/Commodities BusinessMirror

www.businessmirror.com.ph

‘Drop in self-rated poor, food-poor due to cheap rice’ By Bernadette D. Nicolas @BNicolasBM

he availability of cheaper rice may be one of the reasons why fewer Filipinos that took part in a survey declared that they are poor or that they lack food, Cabinet Secretary Karlo B. Nograles said on Tuesday. Nograles made the statement following the release of the results of the Third Quarter 2019 Social Weather Stations (SWS) Survey which focused on self-rated poverty and self-rated food poverty. The latest data from the Philippine Statistics Authority indicated that the average retail price of regular-milled rice in the fourth week of September reached P37.63 per kilogram. The figure is 18.4 percent lower than the average price of P46.14 per kg recorded last year. Figures from the PSA also showed that the average wholesale price of regular-milled rice also fell by 21.2 percent to P34.04 per kg, from last year’s P43.22 per kg. “The downward movement of rice prices really helps underprivileged families who must make the most of a tight budget,” Nograles said in a statement. According to the September 27 to 30 SWS survey results released on Monday, 42 percent of the families, or 10.3 million families, consider themselves as “poor.” This is a three-point recovery from the 45 percent, or estimated 11 million families recorded in June. The survey also found that 29 percent of the families, or an estimated 7.1 million families, rated themselves as “food-poor.” This is a six-point recovery from the 35 percent, or around 8.5 million families, in June. Aside from declining rice prices, inflation rates have also been falling in recent months. Inflation slowed to 0.9 percent in September since hitting its peak in September and October last year at 6.7 percent. Despite these developments,

Nograles made an assurance that the government will not rest on its laurels and would instead step up efforts to address hunger and poverty in the country. While Nograles said the SWS results are “encouraging,” he said the figures also indicate that the government should continue working to ensure that every Filipino family can provide for their own needs, especially food. Various line agencies have earlier agreed to sign a memorandum of understanding that formalizes their respective roles in the Enhanced Partnership against Hunger and Poverty (EPAHP). “Our goal is to ensure that all these anti-hunger programs are linked with other government food and nutrition programs so that they are fully maximized,” said Nograles. “Government feeding programs, for example, can source their produce from local farmers, and agencies like the DA [Department of Agriculture] can facilitate that. This is just an example of how EPAHP will utilize a whole-of-nation approach to eradicate hunger,” he added. Line agencies involved in the EPAHP are the Departments of Social Welfare and Development, Agrarian Reform, Agriculture, the Interior and Local Government, Education, Health, Science and Technology, and Trade and Industry. Other agencies to be tapped in the initiative are the National Anti-Poverty Commission, National Irrigation Administration, Land Bank of the Philippines, Technical Education and Skills Development Authority, and the Commission on Population and Development. The government is aiming to bring down poverty incidence in the country to 14 percent by 2022. The Philippines is also one of the countries that have committed to end hunger by 2030, one of the sustainable development goals of the United Nations.

Editor: Jennifer A. Ng • Wednesday, October 23, 2019 A9

DA: Farm output on track to expand by 2% this year

By Jasper Emmanuel Y. Arcalas

@jearcalas

he country’s farm sector will end 2019 with a 2-percent hike in production despite the outbreak of African swine fever (ASF) and the drop in the farm-gate price of unhusked rice, the Department of Agriculture (DA) said on Tuesday.

The DA said it is maintaining its 2-percent growth target this year due to the “big factor” that the Rice Competitiveness Enhancement Fund (RCEF) will play in boosting total agricultural output in the remaining months of the year. Rice production, according to the DA, will continue to drive the full-year performance of agriculture as the crops subsector account for the lion’s share of total output at any given period. The DA also said outbreaks of ASF, which resulted in the deaths and culling of over 50,000 pigs in some areas in Luzon, will not significantly affect hog production.

Farm output next year, according to the DA, will expand by 2 percent to 3 percent due to the implementation of all the initiatives funded by the RCEF. “Everything has been considered even with the ASF. I am positive, my view is positive. Of course not all your targets can be met, there are a lot of unexpected things that were not considered, ASF for example,” Agriculture Secretary William D. Dar told reporters in a press briefing. Dar is eyeing to double farmers’ income in five years and expand agriculture production by at least 3 percent annually in keeping with President Duterte’s directive of improving the lives of Filipinos. Earlier, Dar said the President had ordered him to boost the performance of the Philippine

agriculture, which expanded by an average of only 1.1 percent in the past decade. He said farm production growth should hit at least 3 percent to 4 percent to ensure ample food supply and meet the food requirements of the country’s population, which has been expanding at an annualized rate of 1.8 percent. The sustained expansion of the livestock, poultry and fisheries subsectors was not enough to offset the lackluster performance of the crops subsector as farm production contracted by 0.24 percent yearon-year in the first half. Figures released by the Philippine Statistics Authority indicated that agricultural production in the second quarter fell by an annualized rate of 1.27 percent. Farm output in the same period last year inched up by 0.12 percent.

Rice fund

The DA said it has received the entire P10 billion for the first year of RCEF. The agency will receive the rice fund for six years as mandated by Republic Act 11203 or the rice trade liberalization law. The DA said 32 percent, or about P3.2 billion, of the fund has been obligated, while the remaining amount has been allotted already. The agency also maintained that the rollout of initiatives funded by the RCEF was “never late.”

“This is the right time [to tap RCEF]. [This] time of the year, such intervention must start,” said Dar. “We would like to believe that for the next six years, if properly implemented, RCEF will make rice farmers more productive, competitive and more prosperous,” he added. It can be recalled that upon his appointment as agriculture chief for the second time, Dar said initiatives under the RCEF should have been implemented earlier than the third quarter of 2019. Dar, who has been in office for two months, said the DA would do its best to put in place the necessary interventions to make rice farmers competitive in the first 100 days of his term. The DA would also craft a catch-up plan that would detail the interventions that the government will roll out next year, he told reporters in a news briefing on August 6. Under the RCEF, P5 billion will be allocated for the provision of farm machines to increase the rice sector’s mechanization level, while P3 billion would be spent for inbred rice seeds distribution and related training. The RCEF also has an easy financing credit component with an annual funding of P1 billion and another P1 billion allocation for the improvement of farmers’ technical know-how.

A10 Wednesday, October 23, 2019 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

Local governments key to strong PHL

ometime in the 1990s, politicians who were against the Local Government Code advocated by then-Senate President Aquilino “Nene” Pimentel Jr. would chide him for the behavior of erring barangay officials. This is because the Local Government Code, or Republic Act (RA) 7160, passed in 1991 gave local leaders more powers, authority and resources. At the time, there was the perception that the grant of autonomy to local government units (LGUs) had made their stewards ill-mannered and irresponsible. Criticisms heaped upon RA 7160 were part of the birth pangs accompanying the implementation of a new law. National government officials had nightmares in implementing decentralization. What used to be the responsibility of the national government, such as health services and agricultural extension, had been transferred to local government units. This was in keeping with the vision of the law to allow local governments to take responsibility for the development of their respective communities. To carry out their duties and functions under the law, local government units were given a share in the taxes collected by the national government. Apart from this, local governments can also generate their own funds via taxes, charges and fees. If they need to augment their budget to support the delivery of basic services or put up the necessary facilities in their areas, LGUs may negotiate and secure financial grants from local and foreign assistance agencies. Without a doubt, the Local Government Code was instrumental in helping the national government boost economic growth and reduce poverty incidence especially in urban areas. The elbow room given to LGUs to generate their own resources empowered many cities and municipalities, which no longer solely depend on the national government to implement programs and projects for their constituents. One good example of this is Makati City, which will soon construct its own subway costing $3.5 billion. However, the rise of new challenges, such as climate change and shrinking natural resources, are threatening to undermine the progress made by cities and municipalities in more than two decades. It’s also not a coincidence that LGUs exacerbated the problem by not fully complying with the provisions of the law that would have prepared them to face challenges caused by changing weather patterns and tweaks in policies, such as the Agricultural Tariffication Act of 1996 and the rice trade liberalization law. Part of the duties and responsibilities of local governments is the provision of agricultural support services, including the distribution of planting materials, and the operation of farm produce collection and buying stations. Local governments are also responsible for agricultural extension, and on-site research services and facilities, including the prevention and control of plant and animal pests and diseases. To hasten the expansion of industries, local governments are mandated to provide industrial research and development services. The vision of Pimentel and other proponents of the Local Government Code was to produce food efficiently, including raw materials that would have supported local industries. Faithful adherence to these provisions would have enabled farmers to supply most of the food requirements of Filipinos and the inputs required by factories. The inability of municipalities to deliver the much needed research and extension services contributed to the failure of farmers to improve their productivity, a sure ticket out of poverty. The only way for the country to continue producing sufficient food amid changing weather patterns and shrinking natural resources is for local governments to carry out their duties under RA 7160. Compliance with the Local Government Code will also boost efforts of the national government to reduce poverty incidence to less than 20 percent by 2022. A food-secure and strong Philippines, with LGUs leading the way, is the best tribute that Filipinos can give to the Father of the Local Government Code.

Since 2005

BusinessMirror A broader look at today’s business ✝ Ambassador Antonio L. Cabangon Chua Founder Publisher Editor in Chief Associate Editor News Editor

T. Anthony C. Cabangon Lourdes M. Fernandez Jennifer A. Ng Vittorio V. Vitug

Senior Editors

Lorenzo M. Lomibao Jr., Gerard S. Ramos Lyn B. Resurreccion, Dennis D. Estopace Angel R. Calso

Online Editor

Ruben M. Cruz Jr.

Creative Director Chief Photographer Chairman of the Board & Ombudsman President VP-Finance VP Advertising Sales Advertising Sales Manager Group Circulation Manager

Eduardo A. Davad Nonilon G. Reyes Judge Pedro T. Santiago (Ret.) Benjamin V. Ramos Adebelo D. Gasmin Marvin Nisperos Estigoy Aldwin Maralit Tolosa Rolando M. Manangan

BusinessMirror is published daily by the Philippine Business Daily Mirror Publishing, Inc., with offices on the 3rd floor of Dominga Building III 2113 Chino Roces Avenue corner De La Rosa Street, Makati City, Philippines. Tel. Nos. (Editorial) 817-9467; 813-0725. Fax line: 813-7025. (Advertising Sales) 893-2019; 817-1351, 817-2807. (Circulation) 893-1662; 814-0134 to 36. E-mail: news@businessmirror.com.ph.

www.businessmirror.com.ph

Printed by brown madonna Press, Inc.–Sun Valley Drive KM-15, South Superhighway, Parañaque, Metro Manila MEMBER OF

Unemployment benefit as the 7th SSS benefit Aurora C. Ignacio

All About Social Security

ost Filipinos rely on their jobs to support themselves and their families’ needs. So, when employees are suddenly displaced from their jobs, they lose their financial security while also trying to overcome the burden of unemployment.

Where do workers seek assistance when involuntarily separated from employment due to unforeseen circumstances like these? For 16 million actively paying SSS members, they can avail themselves of an unemployment benefit in case they are displaced at work due to redundancy, installation of labor-saving devices, retrenchment, closure or cessation of operation, and disease or illness. Alwin Velasco, a 23 years old butcher, is one of the many workers who have availed of the SSS unemployment benefit. He was

involuntarily separated from work when his company was bought by a conglomerate. In his interview with a primetime news program, he thanked SSS for this benefit, which was not a loan that he has to pay. Velasco is one of the 4,378 employees who have availed themselves of the involuntary separation benefit. As of October 7, 2019, SSS has disbursed a total amount of P54.79 million for unemployment benefit. The unemployment benefit, one of the landmark provisions of Republic Act 11199 or the Social Security

Act of 2018, provides involuntarily separated employees with a temporary source of income to support themselves and their families while looking for a new job. This is the seventh benefit of SSS that grants member-applicants a cash benefit equivalent to half of their average monthly salary credit (AMSC) for a maximum of two months. For example, a member earning P10,000 per month who was involuntarily separated from employment, may receive a cash assistance of half of his AMSC, which is P5,000 per month or a total of P10,000 of unemployment benefit for a maximum of two months. Qualified covered employees must not be more than 60 years old at the time of involuntary separation. However, underground and surface mine workers and racehorse jockey members must not be more than 50 and 55 years old, respectively. To qualify for unemployment insurance, member-applicants must have paid at least 36 monthly contributions, 12 months of which should

have been paid within the 18-month period before the month of involuntary separation. Member-applicants must secure a certification from the Department of Labor and Employment (DOLE) through its regional offices or Philippine Overseas Labor Offices (POLO) establishing a nature and date of involuntary separation, along with the Notice of Termination from the employer or the Affidavit of Termination of Employment. Member-applicants may file their claims at any SSS branch or foreign office within one year from the date of involuntary separation. The unemployment benefit which is the newest benefit—apart from sickness, maternity, disability, retirement, funeral, and death—is an additional layer of social security protection for all Filipino workers. SSS contributions are long-term savings for members.

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.

Protesters are united by something other than politics

By Tyler Cowen | Bloomberg Opinion

he world increasingly finds itself under protest. As 2019 enters its final quarter, there have been large and often violent demonstrations in Lebanon, Chile, Spain, Haiti, Iraq, Sudan, Russia, Egypt, Uganda, Indonesia, Ukraine, Peru, Hong Kong, Zimbabwe, Colombia, France, Turkey, Venezuela, the Netherlands, Ethiopia, Brazil, Malawi, Algeria and Ecuador, among other places. What gives? One possibility is that all of this is a random coincidence. Another is that news of such protests is now much more widely dispersed, and so they seem more widespread. But it is also worth considering what cause or causes these protests might share—and, more important, the means they have to spread their concern. One frequent theme is people objecting to a price increase. In Ecuador, a focal point of the protests has been a demand for restoration of fuel subsidies. Petroleum price subsidies also have been central to the Haitian protests. In Lebanon, citizens have been upset at a new tax levied on the use of WhatsApp, with a social-media tax also having been an issue in Uganda. In Sudan cuts to food and fuel subsidies have been a major complaint. In Chile they are protesting subway fare hikes. The trend is that price increases may continue to become less popular. And, crucially, the Internet will help people organize against such changes. Consider that an old-style labororiented protest can be organized

through the workplace or plant itself, through on-the-ground techniques that long predate the Internet. There is a common locale and set of social networks in place, including, perhaps, a union. Those who suffer from a price increase, in contrast, typically do not know each other or have common social ties. Just about everyone buys gasoline, either directly or indirectly. The Internet, however, makes it possible to mobilize these people into protests with prices as the common theme. In other words: Protests of workers seem to be becoming less important, and protests of consumers are becoming more important. You may recall that one of the original demands of the “gilets jaunes” protests in France was for free parking in Disneyland Paris. If you think that sounds a little crazy, you haven’t yet internalized the nature of the new millennium. In the future, efficiency-enhancing or austerity-induced changes in prices may be much harder to accomplish politically. The new trend is neither central planning nor market liberal reforms, but rather frozen

Consumer protests organized by the Internet are less likely to be ideological in the traditional left-versusright sense. People of widely varying political views, including people who do not have much of a view at all, can get upset by high prices. The Internet may also be encouraging a “least common denominator” appeal to generate the largest protests possible. The point is that anyone expecting these protests to bring about their preferred set of policy changes is bound to be disappointed.

prices, especially when those prices are set in the political realm. One lesson is that fighting climate change will be harder. Fossil-fuel subsidies are broadly popular, citizens do not seem exceedingly willing to take on economic sacrifices these days, and in most poorer countries climate change is not a major concern. The demonstrations mobilized by Greta Thunberg were mostly in wealthier countries, but future carbon emissions will come increasingly from emerging economies. Even in the Netherlands, hardly a right-wing country, farmers are protesting for the right to continue their nitrogen emissions. Another lesson is that effective redistribution may well become harder. Economists tend to see simple monetary transfers as the most effective means of redistributing wealth, whereas keeping prices low

tends over time to lead to shortages and lower quality. Protests are not an especially salutary form of egalitarian pressure, so the underlying problems are unlikely to improve very much, which, in turn, could worsen the political pressures. Consumer protests organized by the Internet are also less likely to be ideological in the traditional leftversus-right sense. People of widely varying political views, including people who do not have much of a view at all, can get upset by high prices. The Internet may also be encouraging a “least common denominator” appeal to generate the largest protests possible. The point is that anyone expecting these protests to bring about their preferred set of policy changes is bound to be disappointed. In particular, I would caution against interpreting the protests as within the American progressive framework of fighting inequality. While economic privation is a major theme, neither the absolute level of privation nor the degree of inequality seems to explain much. Haiti, the poorest country in the hemisphere and with some of the most dysfunctional politics, is seeing protests because the economic situation is so bad. In Chile, meanwhile, the wealthiest country in Latin America and with falling inequality, the demonstrations may be more a matter of high or rising expectations. One thing is for sure: With mass protests, as with so much else, the Internet is changing everything.

Opinion BusinessMirror

www.businessmirror.com.ph

Berlin’s new rent freeze echoes its Soviet past Leonid Bershidsky

BLOOMBERG

he leftist coalition running Berlin’s city government has agreed on the final version of a five-year rent freeze, and it will likely become the German capital’s law on Tuesday. While the resulting legislation is less onerous than previous proposals, it will still distort the market, benefiting existing tenants at the expense of newcomers, shrinking the supply of apartments for rent and making landlords less likely to maintain properties in good condition. The city government is run by three parties—the Social Democrats, the far-left Die Linke and the Greens. All three have been sympathetic to complaints from the city’s renters— who occupy about 82 percent of all apartments—about what’s come to be known as “rent madness.” Rents in the capital have been going up by an average of 2.8 percent a year since 2000. The original rent-freeze plan was developed by the city official responsible for housing, Katrin Lompscher of Die Linke. It would have imposed a five-year freeze on rents for all but newer housing, at the arbitrarily chosen cutoff of 2013, and allowed city officials to redraw existing contracts based on the financial circumstances of the landlords and tenants. The plan was a throwback to the Communist command economy familiar to the residents of the city’s eastern part. East Berliners keep voting for Die Linke, descended from East Germany’s ruling party, so that’s apparently not a problem. The Social Democrats, however, are the leading party in the governing coalition, and they’ve been skeptical of the freeze—although not because developers have been raising hell and the right-wing opposition has, predictably, taken their side. Rather, it’s because the proposal—especially the part about lowering existing rents— was legally shaky. So the compromise version is somewhat more sober than Lompscher’s original. The freeze kicks in at the beginning of next year. After that, the maximum rent that can be charged on new leases can’t be higher than that in the last lease, and in most cases it must be lower because the ceiling is still linked to the 2013 level with 13.4 percent added to account for rising incomes. Starting in 2022 and until the freeze runs out at the end of 2024, landlords can increase rents by no more than 1.3 percent a year. Existing rents can only be lowered in rare cases—if they exceed the newly established ceiling by more than 20 percent, which is considered gouging. But to handle applications from tenants who want a reduction, and to enforce the rules on rent-increasing renovations (these will be strictly regulated), the city will need to hire up to 250 extra bureaucrats. Only housing built since 2014 and some social housing will be exempt from the freeze. In Germany, the Berlin freeze breaks new ground: nothing quite like this has been done before. Big landlords intend to try to overturn it in the courts as an unconstitutional attack on property rights, and it’s difficult to predict how judges will handle the conflict between Berlin’s rights as a state and the damage to apartment owners. But the effects of what the city is about to do are already well-studied. In 2017, Rebecca Diamond, Tim McQuade and Franklin Qian from Stanford University published a paper on the effects of rent control expansion in San Francisco. There, they wrote, rent controls have had the unintended effect of aiding gentrification, as landlords took rental apartments off the market and sold them instead. In a 2018 paper, Andreas Mense from the University of Erlangen-Nuremberg and Claus Michelsen and Konstantin Kholodilin

In Germany, the Berlin freeze breaks new ground: Nothing quite like this has been done before. Big landlords intend to try to overturn it in the courts as an unconstitutional attack on property rights, and it’s difficult to predict how judges will handle the conflict between Berlin’s rights as a state and the damage to apartment owners. But the effects of what the city is about to do are already well-studied. of the German Institute of Economic Research in Berlin documented a similar effect of rent controls in Germany, even though it’s generally harder to terminate a lease here than in the US. Buyer demand will be there for apartments taken off the rental market. Home ownership in Berlin has been rising in recent years as a response to fast-growing rents; the demand will be further fueled by the new legislation since rents for new housing, exempt from the freeze, will go up even faster and newcomers to the city will increasingly look for apartments to buy rather than rent. The Stanford study found that existing tenants benefiting from rent controls tend to move less often. But rents still rise citywide, mostly because landlords reduce supply. “On net, incumbent San Francisco residents appear to come out ahead, but this is at the great expense of welfare losses from future inhabitants,” the Stanford economists wrote. But then, it’s logical that Berlin politicians aren’t worried about future residents or about rising ownership rates at the expense of the rental market. That market probably will shrink slowly because of the difficulty of kicking out tenants, and the politicians are there to protect their current voters. Berlin has the fourth- highest poverty level among German states, and there’s evidence that rent controls do protect the poorest and most vulnerable social groups. For the existing tenants, though, the new legislation will likely mean a decline in the quality of housing stock. The Mense paper shows that in German markets where rents are regulated, landlords’ investment in maintenance drops considerably— and that goes even for the types of housing exempt from the regulation: Landlords fear that controls may be imposed on them, too. Again, that’s not really a problem for the leftist city government. Berlin won’t fall apart in five years because of less maintenance investment. Besides, benefits to poorer tenants who will avoid being displaced thanks to the rent freeze outweigh the inevitable deterioration on the political scale. Berlin’s political reality is that there aren’t enough homeowners to stave off harsh rent controls. Only the landlords’ legal efforts could thwart the leftist majority’s regulatory ambitions. But since the compromise version of the bill is designed to ward off the most obvious challenges, there’s a strong likelihood that the rent freeze will stand—and tempt other leftist state governments to follow Berlin’s example.

Wednesday, October 23, 2019 A11

The priceless reward of teaching

By Lucia Gacutan Ramirez

our job becomes your passion if you love what you are doing. In the Philippines, most public-school teachers continue teaching even without the recognition they deserve. Their passion is their motivation. As of last year, there were more than 880,000 public-school teachers nationwide. These public-school teachers are the molders of the Filipino youth. Dedicated in their chosen profession, our educators work long hours, spend their own limited resources to innovate curriculum and do everything they can to make sure their classrooms are safe and conducive to learning. Undoubtedly, public-school teachers love sharing knowledge and communicating concepts to their students. They do this day in and day out, notwithstanding the challenges currently facing our education system, which has plenty of room for improvement. Most of our science teachers have to surmount big hurdles because of the lack of materials, equipment and facilities in our public schools. This situation holds true at Enrile Vocational High School, where I

have been teaching for more than 26 years. However, this did not dampen my enthusiasm to do my best for the sake of my students. I faced the challenged posed by lack of resources by becoming more creative and innovative. Genetics, for example, is an area in biology that is important, but difficult for students to understand and master. Monohybrid cross is the basic topic that students must master in order to understand the other topics in genetics. Based on my experience, I have noticed that this topic is always the least mastered in the desired learning competency in biology. The evidence I have to support this observation is the result of the National Achievement Test (NAT) for school year 2009 to 2010 in Science, where the second year students

of Enrile Vocational High School got the lowest mean performance score of 55.6 percent in genetics. Results of the pretest and post-test that I used to administer to my grade 8 students at the beginning and at the end of the school year, respectively, also revealed that our students had the lowest proficiency level on monohybrid cross. It is for these reasons that I thought of preparing a Strategic Intervention Material (SIM), dubbed “What Will I Be?,” to stimulate students’ understanding and interest on the topic of monohybrid cross to enhance the achievement level of my grade 8 students in biology. I got the idea from the great education philosopher John Dewey, who pushed the idea of learning through activity and child-centered instruction. Students are learning as a result of busy hands when doing manipulative activities, and this is very true in the use of SIM in teaching. A variety of activities that will help the students learn while having fun are included in the material to help them achieve mastery of the concept. The material includes the following: Guide Card, Activity

How to tax tech monopolies Noah Smith

BLOOMBERG VIEW

he question of how to distribute the fruits of the economy’s production is central to economics. Many take a utilitarian approach: Let the private sector produce what it wants, and then tax the wealthy to help the poor. Utilitarians don’t spend much time worrying about who deserves what; the goal is simply to maximize human happiness. Marxists tend to take a more classbased view, believing that the fruits of production ought to belong to workers. Then there’s Henry George. George was a 19th-century American economist who believed that land was the source of human inequality. As the population and the economy grow, he reasoned, land remains scarce, so rents go up. Landowners don’t actually produce anything that benefits the economy, but they capture much of the value created by workers and businesses that do use the land. Thus, land ownership is a vast engine of human poverty and concentration of undeserved wealth. Modern history seems to bear out George’s assessment. In the 140 years since George wrote his magnum opus Progress and Poverty, land has been a remarkably good financial investment across a range of developed countries: And much of the increasing wealth inequality documented by economist Thomas Piketty is due not to corporate profits, but to the increasing value of land. George believed that it was government’s job to redistribute these unearned profits on land ownership to the public-at-large. His preferred policy for doing this was a land-value tax, which is like a property tax with

an exemption for the value of useful structures or other improvements that are built on top of the land. A century later, economists began to realize that land-value taxes are a very efficient way of funding local government services, like education. The land-value tax is a simple, elegant policy on paper, but it tends to be tricky to implement. Some economists trained in the Georgist tradition have focused on more direct means of redistributing wealth earned from land. For example, Wolf Ladejinsky, who served as an adviser to the governments of Japan and Taiwan in the postwar years, engineered sweeping programs of agrarian land reform. Some credit these programs with jump-starting East Asian economic development, as well as creating a sense of fairness that diminished the appetite for communist revolutions. In the modern day, neo-Georgist ideas tend to focus on urban land rather than farmland. As the knowledge economy becomes more important, high-earning workers are crowding into cities, sending rents soaring. Housing co-ops, public housing and programs to help

The age of knowledge industries brings new challenges that older policies are ill-equipped to address. In the digital age, a lot more companies have strong network effects, meaning that the more people use a product, the more valuable it is. Facebook is the classic example: People are on the site not because it has the best features, but because all of their friends are on it.

lower-earning people buy houses are all ways to redistribute urban land. But it’s unlikely that land reform and taxation, by itself, will be enough to make Americans feel like they’re living in a fair society. As spectacular profits accrue to the owners of a few dominant companies, it’s worth asking whether those companies have some advantages that, like land, allow them to make profits out of proportion to the value they create. Patents and ownership of online platforms might be two such assets. Economists call unearned profits “rent,” drawing an explicit analogy with the income earned by a landlord. One source of rent is monopoly power: When a company doesn’t have to face the pressures of competition, it can jack up prices beyond the efficient level in order to earn extra profits. Industrial concentration has been rising in the United States as a few so-called superstar companies gobble up the market share. And as concentration goes up, profits have taken a larger share of economic output: Beefing up the antitrust system is a very good idea, but it won’t be sufficient to halt the rise of monopoly rents. Stronger unions and other pro-labor institutions can complement legal remedies. But the age of knowledge industries brings new challenges that

Card, Assessment Card, Enrichment Card, Reference and Answer Cards. Of course, the skills of the students, appropriateness of the content and congruency to the secondary desired learning competencies were considered in writing the activities and assessment parts of the SIM. The results of my action research revealed that my students attained higher proficiency level on monohybrid cross after they used the SIM that I made for them. If this strategy in teaching was found effective in biology, then I suppose that it will also work in other subjects. For this reason, I encourage my fellow dedicated mentors in the field to try to identify the least mastered learning competencies in their subject area and try to make a similar SIM to enhance students’ interest. Of course, designing a specific SIM needs a lot of sacrifice, but once you have seen the interest of students in using this teaching tool and their improvement in their learning ability, then the reward becomes priceless. The author is Master Teacher 2 at Enrile Vocational High School in Enrile, Cagayan.

older policies are ill-equipped to address. In the digital age, a lot more companies have strong network effects, meaning that the more people use a product, the more valuable it is. Facebook is the classic example: People are on the site not because it has the best features, but because all of their friends are on it. Network effects are a little like land, only in digital form. Because Facebook successfully occupied the social network space—kind of like claiming empty land—it’s difficult for later competitors to grow. It’s not impossible. More recent platforms, such as Snapchat and Pinterest have carved out networks of their own, and eventually some newcomer may dethrone Facebook the way it dethroned MySpace. But the strength of network effects for first movers leads to market concentration and a few dominant companies. The patent system is another source of rent extraction: The government allows companies a temporary monopoly in order to encourage innovation. But since new technologies tend to build off of older ones, patents can allow first movers to block out the possible competition and hog profits for a long time. Modern-day Georgists should think about how to redistribute this digital land. Early ideas involve regulating online platforms to allow more competition, reforming the patent system and a progressive corporate tax that only kicks in when companies have very high margins. Businesses, entrepreneurs and inventors certainly put in plenty of effort and take plenty of risks to create new platforms and patentable innovations. But the rewards may be out of proportion to the value created. Finding new ways to redistribute the rents from digital land may help to avert damaging class warfare.

Post-Brexit Britain will still rely on immigrants By Mark Gilbert Bloomberg Opinion

o matter how the United Kingdom’s tortuous process of leaving the European Union ends, those who supported Brexit as a way of curbing immigration will have to accept the immutable mathematics of demographics: Britain will remain economically reliant on foreign workers for decades to come. The Office for National Statistics (ONS) has just published its latest projections for the size of the country’s population for the next 25 years, with a breakdown by age group. It should be required reading for any politician seeking, to coin a

phrase, to take back control of Britain’s borders. While the population is expected to continue growing in the coming decades, the pace will slow. Between mid-2018 and mid2043, the total will increase by just 9 percent, down from the 15-percent expansion in the previous 25 years. And as it grows, the population will age. The proportion of people aged 85 or older is expected to almost double in the coming quarter of a century, according to the ONS. From 2028, while both the working age community and the number of children flatline, the gray contingent surviving long enough to qualify for a state pension surges. That risks creating an economic imbalance, with too few workers paying taxes and

national insurance to support the retired crowd at the top of the demographic pyramid. The percentage of the population that’s old enough to draw a pension will increase to 22 percent by 2043, up from 18.5 percent in the middle of last year, according to the ONS figures. As the baby boomers born after World War II and into the 1960s start to die, and the so-called replacement rate slows, the number of births and deaths starts to become almost equal from the mid-2030s. Hence the need for immigrants, who are typically of working age, to keep the population growing. The ONS bases its projection for net migration in the coming quarter-century on the annual average for the past 25 years of 190,000.

Now, that could increase or decrease; in its previous projections, the statistics office used a lower figure of 165,000 per year to reflect the mean data for the quarter century to 2016. The statistics office is at pains to stress the impartiality of its data gathering. “National population projections do not attempt to predict the impact of political circumstances such as Brexit,” the study says. Nevertheless, the data is incontrovertible. Given its ageing population, Britain needs immigrants and their economic output to support the retirement population. Even if it succeeds in eventually extricating itself from the European Union, the UK can ill-afford to raise the drawbridge to overseas workers.

A12 Wednesday, October 23, 2019

www.businessmirror.com.ph

DOJ pushes criminal raps vs KaPa founders

By VG Cabuag

@villygc

HE Department of Justice has recommended the filing of criminal charges against KapaCommunity Ministry International, its founder and president, trustee, corporate secretary and promoters for their alleged Ponzi schemes.

In a resolution issued on September 25, 2019, state prosecutors found probable cause to charge KAPA, its founder and president Joel A. Apolinario, trustee Margie A. Danao and corporate secretary Reyna L. Apolinario for violations of Securities Regulation Code. The DOJ also indicted Marisol M. Diaz, Adelfa Fernandico, Moises Mopia and Reniones Catubigan for promoting and participating in the unlawful public offering and/ or selling of securities by KAPA. The SEC filed a criminal com-

“The indictment of KAPA along with its founder, officers and promoters is an affirmation of our unwavering commitment to championing investors and tackling abuses in the corporate sector.”—Aquino

plaint against KAPA before the DOJ on June 18, after uncovering the group’s unauthorized investmenttaking activities. KAPA had enticed the public to

Roque eyes new raps vs PhilHealth 19 Pinoys injured in F Rome bus accident ORMER Presidential Spokesman Harry Roque on Tuesday said he is preparing to file another case against officials of the Philippine Health Insurance Corp. (PhilHealth) officials for allegedly paying benefits to “ghost beneficiaries.” Roque earlier filed graft cases against former and current PhilHealth officials over alleged irregularities involving P90-million government funds. According to Roque, the “pertinent documents” which PhilHealth failed to release will help build up the charges he filed against the health agency. He added that he sought help from President Duterte in case

PhilHealth refuses to release documents. “Minabuti ko nang dumiretso sa ating Presidente para i-release na ang mga dokumento [I went straight to President Duterte to ask if he could help with the documents].” Roque will be filing a dereliction of duty case against PhilHealth. “There were fake receipts issued by the agency to OFWs. To be honest, I can’t keep track of our losses because of the fake receipts,” Roque said in a mix of English and Filipino. “I pity our OFWs for thinking that they are still covered by PhilHealth,” he added. In June, PhilHealth denied that its liaison officers released fake official receipts. “The falsification was initiated by the unscrupulous

NORTHEASTERLY SURFACE WINDFLOW PREVAILING OVER LUZON as of 4:00 pm - October 22, 2019

liaison officers themselves who were said to connive with a certain personality at the Philippine Overseas Employment Administration [POEA] in order to commit fraud,” the statement read. The former Palace spokesman also pushed for the Whistleblower Protection Act which seeks to support the prosecution of errant and corrupt public officials. Roque called on PhilHealth’s legal department to “support whistleblowers instead of putting them behind bars.” Whistle-blower Edwin Roberto, who has submitted his sworn affidavit against the health agency, was arrested by the National Bureau of See “PhilHealth,” A2

invest at least P10,000 in exchange for a 30-percent monthly blessing or love gift for life, without having to do anything other than invest and wait for the payout. The SEC also found KAPA to have employed a Ponzi scheme, an investment program that offers impossibly high returns and pays investors using the money contributed by other investors. The agency, through the Anti-Money Laundering Council (AMLC), also obtained a freeze order from the Court of Appeals on

June 4 to preserve assets linked to KAPA. “The indictment of KAPA along with its founder, officers and promoters is an affirmation of our unwavering commitment to championing investors and tackling abuses in the corporate sector,” SEC Chairman Emilio B. Aquino said. “This should also serve as a stern warning against other groups engaging in unlawful investmenttaking activities and other predatory practices to the detriment of the investing public,” he said.

‘DESPITE DENR BAN, LAND RECLAMATION GOES ON IN BACOOR’

HREE Filipinos were wounded in the forehead, two had fractures on their shoulder and leg, while nine others said they received immediate medical attention. They were among a total of 19 Filipinos who figured in a bus accident in Rome last October 16. The Department of Foreign Affairs (DFa) said some of them reported having suffered muscle trauma, quoting doctors who evaluated the Filipinos. “No one was critically injured,” the DFA added. Chargé d’Affaires Candy S. Cypres-Bauzon reported to the DFA that the Embassy had identified and has the contact details of all the 19 injured Filipinos. A Facebook account said a Rome city bus crashed into a tree on the city’s Via Cassia, “causing multiple injuries, four of them serious but none believed to be life-threatening.” The incident occurred after the vehicle veered off the road, near the junction with Via Oriolo, at around 9 a.m. on October 16. Twelve ambulances transported the injured to five hospitals around Rome, with firefighters assisting in removing passengers safely. “Rome’s public transport company ATAC has opened an investigation into the reason behind the accident,” Philippine officials in Rome told the DFA. The bus involved in the crash had been in service for 12 years. Recto L. Mercene

Photo shows a still “untouched” portion of a fishpond adjacent to a public cemetery in Bacoor in Manila Bay and another area already covered with backfilling materials. PHOTO COURTESY OF PAMALAKAYA

By Jonathan L. Mayuga

@jonlmayuga

HE Pambansang Lakas ng Kilusang Mamamalakaya ng Pilipinas (Pamalakaya) on Tuesday expressed alarm over landreclamation activities happening at a fishpond connected to Manila Bay. The land-reclamation activity is adjacent to a public cemetery in Bacoor City, Pamalakaya said. According to Pamalakaya, operators using heavy equipment are dumping filling materials in the area. No information is made available whether the ongoing dump-and-fill activity is for public works or a private construction activity, said Pamalakaya national chairman Fernando Hicap. This came despite a recent policy pronouncement by officials of the Department of Environment and Natural Resources (DENR) that no land reclamation will be allowed in Bacoor City. “This was reported by our members as it appears dubious, there was no project details nor building permit number, and they operate during the night. It is akin to how China reclaimed parts of the West Philippine Sea, in secret and fast-paced,” Hicap said in a statement. According to Hicap, the land reclamation in Bacoor is a cause for alarm given that the proposed 420-hectare Bacoor Reclamation Project was exposed at the Senate and no less than officials of the DENR committed to cancel the project. “It is also detrimental to the Supreme Court mandamus to rehabilitate Manila Bay and the DENR’s program,” he insisted.

See “Bacoor,” A2

Board approves new daily minimum wage in W. Visayas

LOILO CITY—Workers employed in the private sector in Western Visayas can expect an increase in their salaries before the end of the year following the approval of the Regional Tripartite Wages and Productivity Board (RTWPB) of Wage Order 25 hiking the daily minimum wage rate. Labor and Employment Regional Director Cyril Ticao, in an interview, said on Tuesday the approved wage order will be submitted to the National Wages and Productivity Commission (NWPC) for approval.

Social security. . .

Ticao, who also sits as chair of the RTWPB in Western Visayas, said the new daily minimum rate of those employed in non-agriculture/industrial/commercial with more than 10 workers will be at P395 and P310 for those with less than 10 workers. For the non-agriculture, the new daily minimum wage is P315. “It is subject for approval by the commission,” he said, although there was no instance their proposed hike was rejected. Based on the approved increase, those

Continued from A1

Most of those belonging to 60 percent, who do have social security protection at that time, are covered by the Philippine Health Insurance Corp. (PhilHealth). Very few of them have any retirement plan. The bulk of these informal workers belong to the following sectors: agriculture, hunting and forestry; other service activities; and construction. The study said the low social security coverage of informal sector workers could be addressed by providing them more information on health insurance and retirement products. “Education level may increase the probability of an informal worker to be covered [with social protection],” the study said. The Philippine Statistics Authority (PSA) held the 14th NCS earlier this month at the Crowne Plaza Manila Galleria to showcase data-intensive studies.

IMF. . .

employed in non-agriculture/industrial/ commercial with more than 10 workers will have a daily increase of P30 and P15 for job sites with fewer than 10 workers. For the agriculture sector, the increase is P20. The current wage based on RTWPB 24 is P365 for those employed in non-agriculture/ industrial/commercial with more than 10 workers; and P295 for those employing 10 workers and below. For the agriculture sector, the current daily minimum wage is also P295. PNA

Continued from A1

the BSP to cut monetary policy rates by 75 basis points this year to stimulate demand and boost GDP. The IMF said it expects Philippine economic growth to return to the 6-percent territory next year. It joined the World Bank, the Asian Development Bank and the Asean +3 Macroeconomic Research Office in tempering its growth expectations for the Philippines this year. In particular, the IMF projected a 6.2-percent GDP expansion for the Philippines next year. This is higher than their average forecast of 6 percent for emerging market economies, the 5.1-percent average forecast for the entire Asia and the 4.8-percent average forecast for Southeast Asian economies.

News BusinessMirror

www.businessmirror.com.ph

Envoy bares Russian proposal to produce weapons with PHL By Recto Mercene @rectomercene

USSIA has proposed joint production of small arms and weapons with the Philippines, Russian Ambassador Igor Khovaev said, adding this would be accomplished with the introduction of Russian technology. “We have a very good proposal for you Filipinos. We are ready to organize a joint production of sophisticated arms and small weapons here in the Philippines,” he said during a news conference at his residence in Forbes Park, Makati. Khovaev sees the Philippines as an arms exporter in the region once that joint venture is approved, saying the deal is subject to bilateral consultations and that “ both sides are exploring specific opportunities.” “You Filipinos will produce Russian arms and weapons. They will be Philippine products with Russian technology. We already started working on that,” the envoy added. If the deal pushes through, Khovaev said the Philippines will be an exporter of advanced small arms and light weapons for the first time in its history. He, however, did not identify the specific types of firearms that Russia wants to be manufactured in the country. “I can only express my hope that it can be done as soon as possible. Both sides are committed to open new horizons of our defense cooperation and one of these horizons is the joint production, joint manufacturing of arms and weapons on Philippine soil.” Asked whether government of private entities would be involved in the deal, the Russian envoy said, “As far as I know, your private companies still get approval from the Philippine government.” “This is [a] subject of bilateral negotiations so I don’t know. I

can only express my hope that it can be done as soon as possible, but what I can say is that both sides are committed to open us new horizons of our defense cooperation and one of these horizons is the joint production, joint manufactur ing of ar ms and weapons on Philippine soil. So now both sides are exploring specific opportunities.” The Philippines, in pursuit of an independence foreign policy despite a 68-year mutual Defense Treaty with the United States, has turned to other countries in upgrading its military. Since assuming the presidency in 2016, President Duterte has visited China five times. He has been to Russia twice but has never visited the US. The Armed Forces of the Philippines (AFP) is reportedly considering the purchase of at least a squadron of MI-171 helicopters from the former Soviet Union—a plan frowned upon by Washington. Under current US sanctions against Russia, third countries, including American allies, could face sanctions if they engage in any deals with Russian defense contractors. However, the Russian envoy brushed aside US threats, saying the Philippines and Russia are independent sovereign nations and are not bound by any restrictions from Washington. “No third countr y has the right to interfere in our defense cooper at ion ,” K hov ae v s a id . “Our defense cooperation is not against anyone.” He added: “It’s not against any other country, and I would like to take this opportunity to stress your traditional partners to interfere into our cooperation. They must respect the choice of Russia and the Philippines. Your traditional partners have no right to be jealous.”

NGCP teams up with UPLB to empower villages with RE

HE National Grid Corp. of the Philippines (NGCP) has partnered with University of the Philippines Los Baños Foundation Inc. (UPLBFI) to develop a program that will empower communities through renewable energy (RE). NGCP, under its Green Spark Program, and UPLBFI will develop renewable, stand-alone technology, tailor-fit to meet the specific needs of Barangay Macabud, Rodriguez, Rizal, which has no source of electricity. They are developing a threecomponent program that aims to addresses the need for transportation and power source for the community, even during calamities. NGCP recently turned over one electric-integrated solar and wind charging station, one electric hand tractor with cargo trailer and four electric tricycles to the unenergized community. The charging station will provide a renewable source of electricity. The tractor will allow the community to boost agricultural production, and the e-vehicles will provide more mobility for the residents. The community, with over 10,000 residents, relies heavily on agriculture. During the rainy season, the dirt roads and rolling terrain make

it difficult for farmers to transport their harvest. NGCP, in partnership with the University of the Philippines, recently pursued a strategy to empower marginalized sectors of its host communities with opportunities for self-reliance, focusing on skills training and livelihood programs. Under this program, the following activities were undertaken: skills on bamboo and buri handicrafts; welding; sewing; baking; cooking; meat processing; food processing; cacao nursery; herbs, vegetables and ornamental plants gardening; micro poultry; bread making; clay pottery; vinegar making; and snack and dessert preparation. The NGCP-UP Skills Camp has, so far, served 494 trainees in 13 communities, benefiting communities like Barangay San Gonzalo in Labrador, Pangasinan; Sampaloc 3 in Dasmariñas, Cavite; Nagtupacan in Santa Maria, Ilocos Sur; Barangay 4 Quinale in Paete, Laguna; Hilusig in Mahaplag, Leyte; Bankas Heights in Toril, Davao City; and Balsik in Hermosa, Bataan. NGCP has also been conducting medical missions and educational support in various communities hosting its operations. Lenie Lectura

Editor: Vittorio V. Vitug • Wednesday, October 23, 2019 A13

Duterte cuts short Japan trip, sets consultation with neurologist today By Bernadette D. Nicolas @BNicolasBM

AYS after Malacañang assured the public that President Duterte is “fine” after he figured in a motorcycle mishap, the Chief Executive has cut short his trip to Japan due to “unbearable pain in his spinal column near the pelvic bone.” In a news statement, Malacañang said the President is slated to see a neurologist today, October 23, for consultation a day after returning to the country on Tuesday evening. Prior to the announcement, the President was supposed to return to the country tomorrow, October 24, after attending the enthronement rites of Emperor Naruhito on Tuesday and two banquets— Emperor’s banquet (October 22) and the Prime Minister’s banquet (October 23). “The Palace announces that the President will cut short his trip to Japan due to unbearable pain in his spinal column near the pelvic bone as a consequence of his fall during his motorcycle ride last [Wednesday, October 16],” said Presidential Spokesman and Chief Presidential Legal Counsel Salvador S. Panelo on Tuesday. Despite the ordeal, Panelo confirmed the President still attended the historical enthronement rites on Tuesday, although he carried a cane to assist him in walking. As for the two banquets, the President requested Mayor Sara

PRESIDENT Duterte arrives to attend the enthronement ceremony of Emperor Naruhito at the Imperial Palace in Tokyo on Tuesday, October 22, 2019. AP

Duterte to represent him and attend on his behalf. “While this was unforeseeable, the public can rest be assured that there is nothing to worry as regards the physical health and condition of the President as he gives serious priority thereto in actively serving our country,” Panelo added. In a one-minute Facebook live video through Senator Christopher Lawrence Go on Tuesday afternoon, President Rodrigo Duterte admitted that he was in pain due to the motorcycle accident. “Alam mo, about four days ago, sumemplang ako sa motor. E pag nagmo-motor ka once or twice sa buhay mo, makatikim talaga ng semplang. Lahat ng nagmo-motor sumesemplang. Kagaya sa akin…parang hindi ko matiis ’yung sa belt banda, mga 3 inches, medyo masakit. [You know, about four days ago, I fell off

the motorcycle. If you are riding a motorcycle, once or twice you will really figure in an accident. Every motorcycle rider falls off the motorcycle. Like me…I just can’t bear it. Around the belt area, about 3 inches, it is painful],” he said. For his part, Go said in a second Facebook live video that the Filipino people should not worry since the President is fine. He also said the President will not stop riding the motorcycle even after the accident. “Sa mga kapatid nating Pilipino ’wag kayong mag-alala, nasa mabuting kalagayan ang ating mahal na pangulo. Nandito pa, nagbabasa ng kaniyang mga paboritong litrato ng motor. At hindi pa rin daw siya titigil mag-motor dahil hindi raw siya mabubuhay kung hindi raw siya magmo-motor. [To all our fellow Filipinos, don’t worry. The Presi-

dent is in good condition. Here he is, he even looks at pictures of his favorite motorcycle. And he will not stop riding the motorcycle because he cannot live without riding,]” he said. To recall, Malacañang on Thursday last week downplayed the accident, calling it a “minor” one. Panelo earlier said the President is fine and his recovery entails no major medical procedure. He also expressed confidence that the President will not be canceling any of his activities due to the accident. The President had a minor injury, particularly light bruises and slight scratches to his elbow and knee after he fell off his motorcycle when he reached for his shoe. The incident occurred when the President already parked his motorcycle at the compound of the Presidential Security Group. While there were on-and-off rumors about the President’s health, Malacañang has since stood firm that the release of a medical bulletin is not needed, saying there is nothing serious for the public to be concerned about. Article VII Section 12 of the 1987 Constitution states that: “In case of serious illness of the President, the public shall be informed of the state of his health. The members of the Cabinet in charge of national security and foreign relations and the Chief of Staff of the Armed Forces of the Philippines, shall not be denied access to the President during such illness.”

Duterte names Garcia as Campaign seeks to raise awareness Coast Guard commandant on sexual exploitation of children

RESIDENT Duterte has appointed Vice Admiral Joel S. Garcia as the new and 28th commandant of the Philippine Coast Guard (PCG), Malacañang said on Tuesday. In a news statement, Presidential Spokesman and Chief Presidential Legal Counsel Salvador S. Panelo said Garcia’s appointment paper was signed on October 21, but the incoming commandant will assume his new post on Thursday, October 24, after Admiral Elson Hermogino officially retires from the Coast Guard service. Garcia is currently the deputy commandant for administration of the PCG. “We are confident that the incoming commandant, a man of vast knowledge, competence and integrity, would continue to lead and advance the PCG to greater heights,” Panelo said. Garcia was included among the five senior officers who have been recommended to succeed Hermogino. Hermogino, a member of Philippine Military Academy “Sandiwa” Class of 1985 have already reached the retirement age of 56, and has served 38 years in the Armed Forces and the PCG. The recommendation was submitted to Transportation Secretary Arthur P. Tugade, who later on endorsed the candidates to the President. Garcia is the current executive director of the National Coast Watch Center under the Office of the President and the chairman of the Regional Cooperation Agreement on Combating Piracy and Armed Robbery against Ships in Asia Governing Council based in Singapore. He has also commanded capital ships from the Navy and PCG and held key positions at the headquarters and, likewise, led four PCG districts, two functional commands and two major support commands. Garcia is a graduate of the Philippine Merchant Marine Academy class of 1985 and a licensed master mariner. He earned his master’s degree in Maritime Safety Administration from the World Maritime University in Malmo, Sweden, and Masters in Shipping Management from the Philippine Merchant Marine Academy. Garcia earned his doctorate degree in Philosophy in Public Administration from Eulogio “Amang” Rodriguez Institute of Science and Technology, and was conferred a doctorate degree in Humanities by the Sulu State College for his humanitarian services. Bernadette D. Nicolas

N Australian government-led consortium of leading child-rights advocates, together with the Philippine government, launched the SaferKidsPH campaign to raise national awareness on the extent and impact of online sexual exploitation and abuse of children in the Philippines. New technologies, such as live streaming, are contributing to rising incidents of cybercrime in the Philippines, an alarming 80 percent of which is online sexual exploitation and abuse of children. The SaferKidsPH campaign is an Australian government initiative in partnership with Unicef, Save the Children Philippines, and The Asia Foundation. SaferKidsPH will engage the government, nongovernment agencies, special task forces and committees, civil society, communities and schools, the private sector, media and other like-minded donors to support and be part of innovative and sustainable solutions. “Online sexual exploitation and abuse of children is a crime that transcends territorial jurisdictions. The SaferKidsPH campaign aims to bring more light to this issue,” says Australian Ambassador Steven J. Robinson AO. “For the next six years, the Australian government will support the Philippine government’s efforts to raise national and local awarenessonchildren’sonlinesafety,andpromote child-sensitive investigation, prosecution and adjudication of cases,” he added. “Awareness is the first step to vigilance and action. We can all work together to make the Internet a safe place for our children,” the envoy said. The campaign is part of the six-year SaferKidsPH initiative that addresses online sexual exploitation and abuse of children by raising national awareness of the problem and supporting stronger implementation of laws and policies that protect children. “Online sexual abuse and exploitation of

children [OSAEC] violates children’s right to protection,” says Atty. Alberto Muyot, chief executive officer of Save the Children. “We believe that strengthening child protection systems is crucial in addressing the problem that has been affecting children, mostly in deprived situations.” “We are committed to working with local government units and civil-society actors to ensure that there are policies, programs, services, budgets and school- and communitybased child protection mechanisms in place to address OSAEC. We will also strengthen our work with children, their families and teachers to raise their awareness on this issue, and mobilize them to help protect children in communities and schools,” he adds. “The Asia Foundation will continue to help mainstream and expand child protection for all Filipino children. This consortium will work with all actors in the justice system to ensure that the voice of Filipino children navigating the justice system in the Philippines is heard, and together we can help break down barriers to access to justice,” says Sam Chittick, country representative of The Asia Foundation. “Online sexual exploitation of children is a hidden crime. It happens in the homes, particularly in the bedrooms of our children,” says Oyunsaihan Dendevnorov, Unicef representative. “It is in the coming together of concerned agencies, from government and nongovernment, our children and their parents, our schools and local communities, of national and international partners, that we can bring this issue to light and stop this grave and egregious violation of our children’s rights. SaferKidsPH is calling on the public to engage. Get to know the issue, join the discourse, report, support, and be part of this movement demanding safety and protection for every child in all the spaces they are in, online and offline,” she adds.

DPWH assures portion of Calax open to motorists on All Souls’ and All Saints’ Days By Lorenz S. Marasigan @lorenzmarasigan

ANTA ROSA, Laguna—Public Works Secretary Mark A. Villar has assured that the first portions of the Cavite-Laguna Expressway (Calax) will be temporarily opened in

time for the commemoration of the All Souls’ and All Saints’ Days to help cushion the expected surge in traffic volumes during the holidays. The first portions, particularly at the Laguna segment of the Calax, cover a 10-kilometer stretch from Mamplasan to Santa Rosa.

“We expect that this road will accommodate roughly 10,000 vehicles per day during the Undas. This will be passable by next week,” he said. “We will open the entry and exit points at Mamplasan, Biñan Laguna, and Santa Rosa-Tagaytay Road.” Currently, the project is about 90

percent completed. “The remaining 10 percent are portions of the expressway that need to be harmonized [and] we are fast-tracking those portions,” Villar added. This section will only be open to traffic during certain traffic management arrangements.

MPCala Holdings Inc. President Roberto V. Bontia noted that his group is hastening the completion of the first sections of the Calax for its official opening. “We are in close coordination with the DPWH [Department of Public Works and Highways]. Together, we

align with the different stakeholders and update them of the developments in the construction, inform them of the features of the expressway and the benefits that Calax will bring to the areas it will traverse. We jointly agreed to open and serve motorists who will travel this Undas,” he said.

A14 Wednesday, October 23, 2019

BusinessMirror

www.businessmirror.com.ph

BusinessMirror

Wednesday, October 23, 2019 A15

A16 Wednesday, October 23, 2019

BusinessMirror

www.businessmirror.com.ph

BusinessMirror

Wednesday, October 23, 2019 A17

A18 Wednesday, October 23, 2019

BusinessMirror

www.businessmirror.com.ph

BusinessMirror

Wednesday, October 23, 2019 A19

A20 Wednesday, October 23, 2019

BusinessMirror

www.businessmirror.com.ph

BusinessMirror

Wednesday, October 23, 2019 A21

A22 Wednesday, October 23, 2019

BusinessMirror

www.businessmirror.com.ph

BusinessMirror

Wednesday, October 23, 2019 A23

A24 Wednesday, October 23, 2019

BusinessMirror

www.businessmirror.com.ph

BusinessMirror

Wednesday, October 23, 2019 A25

A26 Wednesday, October 23, 2019

BusinessMirror

www.businessmirror.com.ph

BusinessMirror

Wednesday, October 23, 2019 A27

A28 Wednesday, October 23, 2019

BusinessMirror

www.businessmirror.com.ph

BusinessMirror

Wednesday, October 23, 2019 A29

A30 Wednesday, October 23, 2019

BusinessMirror

www.businessmirror.com.ph

In the ad material of Notice of filing of Application for Alien Employment Permits published on September 3, 2019, the Company name and address of Mr. Hu, Deyi under DIGICHROM INC. should have been read as FAR EAST VISA AND TRAVEL INC. Located at UG-02 & 04, Cityland 10 Tower II, 154 H.V. Dela Costa St., Bel-Air, Makati, 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

www.businessmirror.com.ph

Companies BusinessMirror

Wednesday, October 23, 2019

Ghana govt ends concession for Meralco’s ECG takeover By Lenie Lectura

@llectura

HE Manila Electric Co.’s (Meralco) concession for the operation and maintenance of the assets and facilities of the Electricity Company of Ghana (ECG) has been terminated by the Government of Ghana.

Meralco is part of the consortium, Power Distribution Services (PDS) Ghana Ltd., which had been awarded a 20-year concession to take over the operation and management of state firm ECG. It has a 30-percent stake in the consortium. PDS is a consortium between Meralco through Meridian Power Ventures Ltd., AEnergia SA, an Angolan company, and three Ghanaian firms—TG Energy Solutions Ghana Ltd., Santa Power Ltd. and GTS Power Ltd. The concession was earlier suspended by the government of Ghana

due to alleged material breaches in the provision of the demand guarantees by PDS. Meralco said Tuesday the concession had been terminated due to alleged material breaches in the provision of the Demand Guarantees by PDS. However, Meralco said such claims are invalid because the Demand Guarantees were issued without due authorization and in excess of the mandate of Al Koot Insurance and Reinsurance Qatari insurance firm. “Based on the letter signed by

Minister Ken Ofori-Atta of the Ministry of Finance of Ghana, the forensic audit by the auditors chosen by the Millennium Development Authority indicated that the purported Demand Guarantees were issued without due authorization and in excess of the mandate of Al Koot Insurance and Reinsurance, Qatari insurance firm and were therefore invalid,” the utility firm said. The Demand Guarantees were key prerequisites and condition precedent for the turnover of the assets and facilities of ECG to PDS. “The same report also mentioned that there was no information available to forensic auditors to suggest that PDS committed fraud in relation to the Demand Guarantees. PDS has maintained that it procured the Demand Guarantees in good faith and that it has no knowledge of any issue with same until the suspension of the Concession,” said Meralco. Meralco President Ray Espinosa earlier said that he is personally slowly losing interest because Meralco has offered the best terms and yet the government of Ghana suspended the concession agreement.

Hyundai banks on LCV, CV segments to recover after 9-month sales decline By Elijah Felice E. Rosales @alyasjah

HE Philippine distributor of Hyundai vehicles has seen its sales from January to September dip almost 4 percent, but is banking on the light commercial vehicle (LCV) and commercial vehicle (CV) brackets to bolster its recovery. In a sales report on Tuesday, Hyundai Asia Resources Inc. (Hari) disclosed its nine-month sales declined 3.95 percent to 24,762 units, from 25,781 units during the same period last year. The automobile distributor performed positively in the LCV and CV segments, but posted a double-digit contraction in its passenger car (PC) sales. As Hari makes changes in its PC lineup, its sales in this bracket dropped close to 15 percent to 13,103 units, from 15,359 units. On the other hand, LCV sales after three quarters improved 8.93 percent to 10,972 units, from

Cirtek cuts bond shelf listing to ₧2B

HE board of Laguna-based Cirtek Holdings Philippines Corp. has trimmed down the amount of its shelf registration of fixed-rate commercial papers with the Securities and Exchange Commission. In its disclosure, the company said it will register P2-billion paper that will be issued in three years, instead of issuing P6 billion over the same period. Previously, the Cirtek board had approved the registration of some P6 billion in commercial papers, some P2 billion of which will be issued initially. Cirtek income slid to just $2.28 million during the six months of the year ending June, from $7.52 million last year as the global demand slowed down. Continued on B2

10,081 units during the same stretch last year. Further, sales of CVs grew twofold to 687 units, from 341 units. Combined, these segments registered a nearly 12-percent growth to 11,659 units, from 10,422 units—something Hari attributed to lower inflation rate, increased government spending, as well as a diversifying roster of SUVs, vans, trucks and buses. Hari President and CEO Maria Fe Perez Agudo shrugged off the firm’s sales slowdown, arguing “the automotive industry continues to recover” after a lackluster showing last year. She added Hari’s sales is projected to pick up over the next months on introduction of new products and services in the market. Last year the automobile distributor’s sales slipped over 6 percent to 35,401 units, from 37,678 units in 2017, mirroring the industry-wide decline blamed on tax increases, record-high infla-

tion, unstable oil prices and rising borrowing costs. “This year has been characterized by highs and lows as the automotive industry continues to recover. Beyond external factors, we believe that sales will only improve in the coming months as we introduce new products and services that are relevant to our customers while redefining vehicle ownership,” Agudo said. Targeting to grow sales by 10 percent this year, Hari is expanding its reach in the CV segment by putting up more dedicated dealerships nationwide. Its CV sales are also expected to be fueled by the firm’s participation in the government’s PUV modernization program. The Philippine distributor of the South Korea-made vehicles just secured certificates of compliance for the Hyundai H-100 Class Modern Jeepney and the Hyundai HD50S Class 2 Modern Jeepney for their enrollment in the PUVMP.

“We’re exposed to political risk, ang layo layo pa [and it’s so far]. So, [our terms are good], but if we will be exposed to these types of uncertainties, we might as well pull out and just devote our attention to the country. And even in Asia, it’s more stable. Maybe we don’t have the constitution or the DNA for that kind of risk in Africa yet,” he commented. The consortium had planned to invest of more than $580 million for capital expenditures and is expected to strengthen the governance, management and operations of the ECG and improve the delivery of power to end users, as well as support Ghana’s socioeconomic growth Meralco’s share would have amounted to $40 million over five years. The bid of PDS included equity ownership and management of the concession company that would take over ECG, which supplies 80 percent of the population of Ghana through 3 million accounts.

Filinvest launches subdivision project in Trece Martires City in Cavite under Futura brand

OTIANUN-LED Filinvest Land Inc. has expanded its property portfolio in the southern part of Metro Manila, breaking ground for a new subdivision under its Futura brand. The company said it recently launched New Leaf subdivision in Trece Martires in Cavite. It is located within The Wood Estates, a sprawling 94-hectare mixed-use district development. It has a town center that features a church, market, school, transport hub and commercial establishments, the company said. “New Leaf is envisioned to be the ideal home for families looking for a fresh start. It offers a safe neighborhood, gated community, quality residential units, recreational amenities, and facilities to help families live in comfort every day,” said Tristan Las Marias, FLI senior vice president and southwest Central Luzon cluster head. Filinvest said its expansion to the southern part of Metro Manila is timely as a growing number of hous-

ing projects are moving farther away from the capital to the rural-urban fringe areas such as Cavite. “Here in New Leaf, you can escape the heavily congested city life and enjoy fresh air and clean surroundings in a community like this,” Las Marias said. New Leaf boasts of two model units, Bernice and Diana, both following Futura’s cast-in-place signature feature with floor areas ranging from 27 to 37 square meters. Lot areas would be between 70 and 119 sq m for Bernice and 70 to 185 sq m for Diana. Unit costs are between P1.2 million and P1.7 million. New Leaf will also feature a swimming pool, basketball court, parks and playground. The subdivision, to be developed in two phases, will be built on 13.81 hectares of land. “We at Filinvest believe that what sets our projects, like New Leaf, apart from other affordable housing projects is the slew of family-oriented amenities,” Las Marias said. VG Cabuag

Companies BusinessMirror

Wednesday, October 23, 2019

PSE STOCK QUOTATIONS

October 22, 2019

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

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

56 147.5 96.9 24.9 12.16 71.8 12.8 44.85 58.3 117.2 26.15 200.6 59.15 1.16 18.52 4.69 7.71 1.23 0.4 765 0.89 177.3 1850

57 148.4 97.6 24.95 12.18 71.9 13 45 58.35 130 26.5 202 59.2 1.18 18.6 4.79 8 1.26 0.42 768 0.91 178 1860

55.05 147.5 95.45 25 12.24 70.8 12.8 44 58.35 132 26.5 199 59.95 1.18 18.52 4.85 7.71 1.23 0.415 765 0.91 177.5 1840

57 148.8 97.8 25 12.3 71.9 12.8 45.05 58.35 132 26.5 202 59.95 1.18 18.6 4.85 7.71 1.23 0.42 765 0.91 177.5 1850

55.05 146.8 94.95 24.95 12.12 70.7 12.8 43.95 58.3 130 26.1 198 59.15 1.16 18.52 4.7 7.71 1.23 0.4 765 0.89 177 1840

57 148.4 97.6 24.95 12.18 71.9 12.8 45 58.3 130 26.15 202 59.15 1.16 18.6 4.7 7.71 1.23 0.4 765 0.89 177.3 1850

2390 1279420 3090660 43300 1119700 4960630 13500 509800 840 190 27600 401260 1230 117000 12800 105000 100 1000 200000 280 48000 840 620

135469.5 189354512 298831106 1081005 13627348 352718628 172800 22837755 49008 24787 721730 80322826 72887 135740 237104 495990 771 1230 82150 214200 43160 148870 1146900

INDUSTRIAL

-10221636 147569800.5 -551850 439040 2091094.5 -815335 -705830 -10225333 -32560 -157250

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

1.29 38.9 0.27 24.8 79 362.8 19.96 5.05 4.12 2.75 10.84 33.2 7.3 16 15.12 4.37 17.32 15.48 5.5 8.74 6.99 91.25 0.68 47.5 227 42 9.64 13.2 1.77 11.28 1.94 5.1 0.122 158.4 1.25 2.43 72 2.63 15.12 10.38 14.8 17.22 9.35 1.12 1.16 2.03 5.16 5.4 31.6 2.52 8.09 1.49 5.11 1 8.7

1.32 38.95 0.275 25 79.25 364 20 5.06 4.24 2.76 11 33.4 7.35 16.84 15.76 4.38 17.9 15.5 5.66 8.75 7 92 0.69 48.5 227.2 54 10.08 13.38 1.78 11.4 1.95 5.12 0.125 159 1.26 2.63 76.9 2.64 15.46 10.44 14.88 17.24 9.4 1.14 1.17 2.06 5.2 5.45 31.95 2.53 8.1 1.51 5.46 1.03 8.74

1.29 39 0.26 24.8 79.75 364.6 20 5.1 4.07 2.85 11 33.45 7.35 16.86 15.8 4.4 17.32 15.54 5.66 8.58 6.99 91 0.68 48.85 226.4 55 10 13.6 1.82 11.5 2.02 5.14 0.122 159.7 1.25 2.5 78 2.68 15.12 10.6 14.9 17.66 9.31 1.09 1.18 2.06 5.24 5.4 31.95 2.54 8.15 1.49 5.11 1.01 8.74

1.32 39.5 0.27 25.15 79.95 366.6 20.25 5.1 4.24 2.87 11 33.55 7.35 16.86 15.8 4.47 17.9 15.54 5.66 8.85 7.03 92 0.7 48.95 229.2 55 10.18 13.6 1.84 11.5 2.07 5.14 0.122 160 1.27 2.5 78 2.68 15.36 10.6 14.9 17.66 9.4 1.12 1.18 2.06 5.24 5.4 31.95 2.54 8.15 1.52 5.11 1.01 8.83

1.29 38.9 0.26 24.7 78.95 362.6 20 5.05 4.07 2.72 10.84 33.1 7.3 16.86 15.2 4.37 17.32 15.36 5.52 8.58 6.99 91 0.67 48.45 226.2 50 9.51 13.18 1.75 11.26 1.9 5.12 0.122 159 1.24 2.41 78 2.62 15.12 10.38 14.8 17.2 9.31 1.09 1.15 2.05 5.24 5.4 31.95 2.49 8.09 1.49 5.11 1.01 8.49

1.32 38.95 0.27 25 79 364 20 5.05 4.24 2.75 11 33.2 7.35 16.86 15.76 4.37 17.9 15.5 5.52 8.75 7 92 0.69 48.5 227.2 50 10.08 13.2 1.78 11.28 1.94 5.12 0.122 159 1.25 2.41 78 2.63 15.12 10.44 14.88 17.22 9.4 1.12 1.17 2.05 5.24 5.4 31.95 2.53 8.09 1.49 5.11 1.01 8.74

15000 944500 3430000 907300 177320 108910 1217000 325400 610000 29233000 50500 2936000 9000 400 503800 1872000 7900 744900 10800 2934000 2896300 37850 323000 13900 404690 140 32600 107000 3102000 25700 3732000 57000 10000 621340 2460000 71000 100 1720000 45900 150500 495000 3319600 5100 407000 715000 105000 100 51000 400 9531000 62200 22000 100 41000 296200

19530 37019100 919600 22503495 14011845.5 39622306 24343575 1648090 2482870 82194250 555442 97939150 66061 6744 7869232 8222400 139710 11521148 60246 25641781 20296924 3474072 221200 678695 92171532 7150 317797 1415018 5545800 292462 7422300 291890 1220 99030895 3094110 171860 7800 4544290 695956 1583684 7355480 57353880 47553 452150 832410 215650 524 275400 12780 23,967,430( 503846 32880 511 41410 2555637

8768165 -6226200 -11579142.5 669668 -6864840 -124489 -11483320 -6508590 -419056 8760 -2124260 -41568 6491732 -11458852 80270 405805 -27947316 54120 141000 -274286 40510 -201746 24749209 319560 159720 -792680 340352 438756 -41388996 4420 -4600 -12780 1,992,009.9998) 115857 -409891

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

0.92 12.5 870 54.5 11.96 3.64 6.6 0.7 1.12 1.14 6.53 8.95 13.08 875 5.63 73.4 0.485 4.31 13.58 0.59 4.98 0.038 1.45 1.26 1006 166 0.85 215.2 0.221 0.231

0.93 12.76 870.5 54.85 11.98 3.65 6.89 0.71 1.13 1.17 6.63 9 13.38 880 5.67 73.5 0.5 4.32 13.6 0.6 4.99 0.039 1.46 1.3 1014 166.1 0.88 220 0.225 0.236

0.9 12.86 869 53.75 11.8 3.75 6.6 0.71 1.13 1.16 6.6 8.96 13.06 860 5.64 71.95 0.51 4.32 13.66 0.61 4.9 0.038 1.45 1.26 1004 167.9 0.88 217 0.221 0.224

0.92 12.86 873 54.85 12 3.75 6.6 0.72 1.13 1.16 6.64 9.01 13.4 890 5.64 73.7 0.51 4.33 13.8 0.61 5 0.039 1.49 1.26 1014 168 0.88 220 0.222 0.238

0.9 12.5 860 53.45 11.72 3.65 6.6 0.7 1.12 1.16 6.51 8.94 13.06 857 5.63 71.95 0.48 4.3 13.58 0.6 4.89 0.038 1.4 1.26 998.5 166.1 0.88 216.2 0.221 0.224

0.92 12.76 870.5 54.85 11.98 3.65 6.6 0.71 1.13 1.16 6.63 9 13.4 880 5.63 73.5 0.51 4.31 13.6 0.6 4.99 0.038 1.46 1.26 1014 166.1 0.88 220 0.222 0.236

8949000 282600 368440 915870 5332900 2742000 25000 176000 422000 100000 720100 4991600 1700 110120 18200 2168050 209000 218000 640700 27000 26230000 2500000 1467000 63000 1,186,165 1 67560 8000 2430 290000 560000

8186080 3533340 320585325 49956205 63611754 10068720 165000 124120 476750 116000 4759359 44875143 22690 96491720 102536 158448385.5 102300 940400 8723692 16240 129947370 95100 2152030 79380 ,187,251,722.5 11253828 7040 529626 64110 128030

-314840 1343120 22968936.5 34602080 624010 115999.9999 1221321 13085031 -1306 16197515 -56300 48697069.5 -51720 -1226952 49549440 32196430 -7983091 -

HOLDING & FRIMS

PROPERTY

ARTHALAND CORP 0.87 0.89 0.87 0.89 0.86 0.89 1191000 1043660 -21080 48.7 48.8 48.8 49 48.65 48.8 8801700 430113710 9584685 AYALA LAND ARANETA PROP 1.76 1.8 1.78 1.8 1.76 1.8 218000 384760 2.01 2.02 2.04 2.04 1.99 2.01 526000 1052770 -218900 BELLE CORP A BROWN 0.82 0.83 0.84 0.84 0.82 0.83 181000 150140 CITYLAND DEVT 0.85 0.86 0.86 0.86 0.86 0.86 7000 6020 0.204 0.205 0.2 0.205 0.2 0.205 400000 81510 CROWN EQUITIES CEBU HLDG 6.1 6.29 6.1 6.29 6.1 6.29 47000 295292 4.46 4.58 4.5 4.58 4.45 4.58 1244000 5558070 44700 CEB LANDMASTERS CENTURY PROP 0.57 0.58 0.58 0.59 0.57 0.58 4755000 2772540 99759.9997 CYBER BAY 0.455 0.465 0.49 0.49 0.45 0.46 5490000 2521700 20.75 20.9 20.5 20.9 20.5 20.9 226100 4668660 1218110 DOUBLEDRAGON DM WENCESLAO 9.81 9.82 9.8 9.82 9.58 9.81 144800 1418994 941566 0.43 0.44 0.435 0.44 0.43 0.43 430000 186400 -164700 EMPIRE EAST EVER GOTESCO 0.121 0.13 0.122 0.122 0.121 0.121 310000 37520 1.6 1.61 1.61 1.61 1.59 1.6 10064000 16108160 -11116820 FILINVEST LAND 1.19 1.21 1.2 1.2 1.2 1.2 387000 464400 -312000 GLOBAL ESTATE 8990 HLDG 14.9 14.92 14.92 14.92 14.9 14.9 26800 399328 1.41 1.43 1.43 1.44 1.4 1.42 1549000 2192510 -267730 PHIL INFRADEV CITY AND LAND 0.73 0.75 0.75 0.75 0.73 0.75 22000 16300 7300 4.89 4.9 4.81 4.91 4.8 4.9 18488000 89900160 26280920 MEGAWORLD 0.295 0.3 0.295 0.3 0.295 0.3 1010000 300500 MRC ALLIED PHIL ESTATES 0.415 0.45 0.41 0.415 0.4 0.415 70000 28650 2.11 2.13 2.05 2.15 2.05 2.13 2655000 5548950 -42000 PRIMEX CORP ROBINSONS LAND 25.5 25.6 25.5 25.8 25.3 25.6 3326100 85105530 18501700 0.37 0.38 0.38 0.38 0.38 0.38 10000 3800 PHIL REALTY ROCKWELL 2.29 2.3 2.29 2.3 2.29 2.3 50000 114540 SHANG PROP 3.18 3.26 3.16 3.18 3.16 3.18 10000 31780 2.66 2.68 2.7 2.7 2.65 2.68 542000 1444510 26500 STA LUCIA LAND SM PRIME HLDG 38.4 38.5 38 38.75 38 38.5 7857700 302122995 29614790 5.64 5.7 5.65 5.73 5.64 5.7 58800 331943 VISTAMALLS SUNTRUST HOME 0.92 0.94 0.92 0.96 0.91 0.92 3131000 2873410 1900 VISTA LAND 7.67 7.72 7.71 7.73 7.66 7.7 3515400 27059489 -19925997 SERVICES ABS CBN 18.84 18.9 19.02 19.36 18.86 18.9 375300 7189854 5.23 5.25 5.22 5.25 5.22 5.23 19900 103976 GMA NETWORK MANILA BULLETIN 0.415 0.43 0.42 0.42 0.415 0.415 20000 8350 1891 1896 1890 1900 1873 1896 23825 45079410 871755 GLOBE TELECOM PLDT 1120 1124 1115 1138 1106 1120 98600 110677415 -15599245 APOLLO GLOBAL 0.042 0.043 0.042 0.043 0.042 0.043 200000 8500 0.11 0.111 0.109 0.11 0.109 0.11 150000 16450 ISLAND INFO ISM COMM 4.85 4.86 4.81 4.93 4.79 4.86 3348000 16226590 -185790 2.49 2.55 2.55 2.55 2.55 2.55 8000 20400 JACKSTONES NOW CORP 3.07 3.09 3.11 3.15 3.04 3.07 2964000 9168920 928690 TRANSPACIFIC BR 0.325 0.33 0.325 0.33 0.32 0.325 3170000 1026900 3.05 3.06 3.1 3.12 3.03 3.06 515000 1583030 -193720 PHILWEB 2GO GROUP 10.3 10.7 10.4 10.7 10.2 10.7 136100 1444890 16.28 17 17 17 17 17 400 6800 ASIAN TERMINALS CHELSEA 6.83 6.84 6.9 6.94 6.8 6.83 386200 2640477 -1041394 95.8 96 95 96.85 93.45 96 246990 23561686.5 10148740.5 CEBU AIR 123.2 123.7 121.6 123.7 121.3 123.7 1756410 215195181 -12973111 INTL CONTAINER LBC EXPRESS 13.6 15.38 13.5 13.5 13.5 13.5 500 6750 0.91 0.94 0.94 0.94 0.91 0.91 141000 132270 LORENZO SHIPPNG MACROASIA 18.72 18.78 18.8 18.82 18.62 18.72 133900 2504268 1.1 1.15 1.1 1.15 1.1 1.15 2000 2250 METROALLIANCE A PAL HLDG 8.1 8.2 8 8.2 8 8.2 3900 31420 HARBOR STAR 1.62 1.64 1.65 1.65 1.6 1.64 476000 767740 16400 1.54 1.59 1.54 1.63 1.53 1.54 158000 245220 ACESITE HOTEL GRAND PLAZA 10 11.04 10.02 11.06 10.02 11.06 500 5322 0.68 0.69 0.67 0.69 0.66 0.68 500000 339080 WATERFRONT FAR EASTERN U 892 920 920 920 920 920 30 27600 IPEOPLE 7.88 8.1 7.88 7.88 7.88 7.88 500 3940 0.67 0.68 0.68 0.68 0.67 0.67 1679000 1136670 -716830 STI HLDG BERJAYA 2.38 2.4 2.4 2.43 2.39 2.4 85000 204980 -93760 10.34 10.4 10.6 10.66 10.26 10.4 6594700 68990580 -42494618 BLOOMBERRY PACIFIC ONLINE 2.85 2.88 2.83 2.86 2.83 2.85 22000 62780 LEISURE AND RES 3.01 3.04 3 3.05 3 3.01 377000 1135640 3000 3.3 3.4 3.4 3.4 3.4 3.4 20000 68000 MANILA JOCKEY PH RESORTS GRP 4.87 5.16 4.86 5.16 4.85 5.16 11600 56311 46075 0.67 0.68 0.68 0.69 0.67 0.68 1090000 740960 -58900 PREMIUM LEISURE ALLHOME 11.54 11.56 11.54 11.58 11.52 11.56 6708600 77,489,928( 38,333,737.9996) 2.38 2.4 2.41 2.41 2.37 2.4 208000 495990 -47670 METRO RETAIL 41 41.05 40.05 41.1 40.05 41 510500 20,892,205( 10,793,204.9996) PUREGOLD ROBINSONS RTL 76 76.15 76.6 77 76 76 2288430 174394180 -19342068 139 139.9 139 139 139 139 1440 200160 200160 PHIL SEVEN CORP SSI GROUP 2.64 2.65 2.67 2.67 2.62 2.65 1407000 3724790 -1410970 16.4 16.42 16.44 16.44 16 16.4 1934400 31364394 -12334484 WILCON DEPOT 0.56 0.57 0.56 0.57 0.55 0.56 5546000 3081050 108080 APC GROUP EASYCALL 9.03 9.2 9.03 9.28 9.03 9.2 17000 154658 430.8 439.8 430.4 430.8 430.4 430.6 220 94762 GOLDEN BRIA PRMIERE HORIZON 0.53 0.54 0.52 0.55 0.52 0.54 41778000 22324490 -1980240 8.61 9.24 9.25 9.25 8.44 9.24 79900 688768 -5544 SBS PHIL CORP MINING & OIL ATOK 11.66 12.28 11.6 12.4 11.6 12.28 700 8540 1.12 1.13 1.12 1.13 1.12 1.12 522000 585410 -194870 APEX MINING ABRA MINING 0.0016 0.0017 0.0016 0.0017 0.0016 0.0017 13000000 20900 2.5 2.58 2.52 2.52 2.51 2.51 141000 354910 -342360 ATLAS MINING BENGUET B 1.12 1.3 1.12 1.12 1.12 1.12 1000 1120 CENTURY PEAK 2.6 2.62 2.62 2.62 2.62 2.62 200000 524000 7.45 7.78 7.5 7.79 7.45 7.79 700 5274 DIZON MINES FERRONICKEL 1.66 1.67 1.66 1.67 1.65 1.66 1298000 2156220 -139660 0.203 0.209 0.21 0.21 0.202 0.209 130000 26780 GEOGRACE LEPANTO A 0.107 0.108 0.106 0.107 0.106 0.107 1240000 132670 LEPANTO B 0.109 0.11 0.109 0.109 0.109 0.109 390000 42510 1.12 1.15 1.17 1.17 1.12 1.15 164000 186670 39200 MARCVENTURES NIHAO 1.03 1.05 1.01 1.06 1.01 1.05 152000 157530 3.91 3.92 3.75 3.92 3.75 3.91 10543000 40920100 18812330 NICKEL ASIA ORNTL PENINSULA 0.84 0.86 0.84 0.84 0.84 0.84 27000 22680 3.64 3.68 3.63 3.68 3.61 3.68 434000 1577680 418970 PX MINING 23 23.1 22.75 23.1 22.75 23.1 1522400 35102505 1806785 SEMIRARA MINING ORNTL PETROL A 0.011 0.012 0.011 0.012 0.011 0.012 11400000 132000 0.01 0.011 0.011 0.011 0.011 0.011 3300000 36300 PHILODRILL PHINMA PETRO 10.52 10.6 9.85 10.72 9.85 10.52 1821900 18979334 221690 12.2 12.26 12.1 12.38 12.1 12.2 201300 2453104 -220596 PXP ENERGY PREFFERED HOUSE PREF A 98.15 99.2 99.25 99.25 99.25 99.25 170 16872.5 499 500 500 500 500 500 6020 3010000 AC PREF B1 ALCO PREF B 100.7 103.1 103.4 103.4 100.7 100.7 300 30480 100.4 100.9 100.5 101 100.4 101 60300 6073820 DD PREF FGEN PREF G 107.9 109.5 107.7 109.5 107.7 109.5 1780 192516 -49275 FPH PREF C 430.2 498 498 498 498 498 50 24900 970 975 970 971 970 970 2000 1940400 GTCAP PREF B LR PREF 0.99 1 0.99 0.99 0.99 0.99 12000 11880 100.7 101 101 101 100.7 101 1190 120181 MWIDE PREF PNX PREF 3A 100.4 101.2 100.4 100.4 100.4 100.4 2000 200800 PNX PREF 3B 107.5 108 108 108 107.5 108 420 45350 1004 1037 1015 1030 1002 1030 520 522770 PCOR PREF 2B PCOR PREF 3A 1025 1055 1025 1025 1025 1025 1220 1250500 1050 1060 1062 1065 1055 1055 8465 8987025 PCOR PREF 3B SMC PREF 2C 77.9 78.45 78.5 78.5 77.8 77.9 30330 2367484 75 75.1 75 75.1 75 75.1 49510 3717201 SMC PREF 2D SMC PREF 2E 75.6 76.9 75.6 75.6 75.6 75.6 1000 75600 SMC PREF 2F 76.6 77 77 77 76.6 76.6 41370 3180010 75.4 75.5 75.5 75.7 75.5 75.5 46600 3523626.5 SMC PREF 2G SMC PREF 2H 75.1 75.5 75.5 75.5 75.5 75.5 7100 536050 75.6 75.7 75.6 75.7 75.6 75.7 166300 12588410 SMC PREF 2I

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR

17.72

17.9

18.04

17.8

17.9

191700

3449850

WARRANTS LR WARRANT

1.51

SMALL & MEDIUM ENTERPRISES

ITALPINAS 6.59 KEPWEALTH 11.38 2.55 MAKATI FINANCE XURPAS 0.9

6.6 11.4 2.78 0.91

6.7 11.8 2.51 0.9

6.9 11.8 2.78 0.91

6.59 11.38 2.51 0.9

6.6 11.38 2.78 0.9

181900 669600 10000 359000

1207939 7681530 25470 323960

-6850 -

EXHANGE TRADE FUNDS FIRST METRO ETF

118.7

-2893068

1.55

118.8

118.2

118.8

118.2

118.7

10770

1275623

-10692

www.businessmirror.com.ph

Eyeing wellness tourism boom, Air Intellipure to invest ₧250M

By Elijah Felice E. Rosales

@alyasjah

IR filter innovator Air Intellipure Inc. is investing around P250 million in the Philippines over the next five years, as it eyes to exploit the country’s growing demand for purification systems. Nick Gitsis, founder of Air Intellipure in the Philippines, said the firm made an initial investment of P20 million in its entry here. However, that capital will most likely increase up to P250 million over the next five years, as Air Intellipure intends to expand its presence to urban areas outside of Metro Manila. In a statement on Tuesday, Gitsis said the firm invested in the Philippines on projections that its wellness tourism market will grow to the tune of the Asia-Pacific region, where sales of health and wellness products jumped nearly 23 percent to $136.7 billion in 2017, from $111.2 billion in 2015, and is expected to reach $251.6 billion by 2022. “The initial seed capital investment was over P20 million upon launch and we intend to grow this

as we roll out in the future. We are committed to invest P250 million in the next five years as we expand into all the highly developed cities in the country,” Gitsis said. In return, Air Intellipure is targeting to generate roughly P58 million next year from sales of air purification systems, particularly from its patented Pure Wellness program. “Our pioneering services is projected to bring exponential growth to the company over the next year. Along with our Intellipure air purification system sales, we’re targeting revenues of P58 million by next year with further substantial growth by 2021,” Gitsis disclosed. He explained Air Intellipure will focus its promotion on the wellness tourism market, particularly in hotels, resorts and

Bacolod is GrabFood’s 35th city, making it largest PHL platform

RABFOOD, the online delivery arm of super app Grab, has expanded its operations to Bacolod, bringing its number of territories in the Philippines to 35 cities, a feat that cements it as the largest food delivery platform in the country. Edward Joseph de la Vega, who heads GrabFood, said the launch of GrabFood in Bacolod is one of Grab’s ways to celebrate with the city’s annual MassKara Festival. The introduction of the food delivery service in the city, he added, democratizes access to food that were previously only accessible physically. “We now take on the challenge of improving access to great food and bringing more livelihood opportunities for the people of Bacolod through GrabFood,” he said. Among its initial list of merchant-partners are the following restaurants: Aida’s, Bar 21, Inaka, L ’Kaisei, L ’Sea, El Ideal, Virgie’s, Rolis, Claras, Merzci Pasalubong, Bong Bongs, Felicia’s, King’s Ice, Apollo, Delicioso, Bascon, Quan, Nena’s Rose, and Cozy Nook. Major quick-service restaurants, such as McDon-

ald ’s, Jollibee, Chowking, Greenw ic h, Bu rger K i ng , Red Ribbon and Uncle John’s Chicken by Ministop are also available 24/7 on GrabFood in Bacolod. “Food delivery is a natural extension of Grab’s transport services. Bringing this service is part of our commitment to transforming Bacolod into a smarter city powered by Grab,” Grab Philippines Operations Lead for Western Visayas Joann Yoshida said. Grab has been operating in Bacolod since 2015, offering taxi and private vehicle services to people in Bacolod. Aside from introducing GrabFood in Bacolod for the MassKara Festival this year, Grab is also hosting various promotions throughout the weeklong celebrations, such us free food, free rides via GrabWheels and free Grab items. “Grab is and has always been a proud partner of the local government of Bacolod through its support for the city’s major festivals. We will always look for ways to offer a fun and memorable Grab Masskara experience through our services,” Yoshida said. Lorenz S. Marasigan

Cirtek cuts bond shelf listing to ₧2B Continued from B1

“The global economic slowdown and unique industry challenges have negatively affected demand for electronic and communication devices. As a result, revenue and profitability for the first half of the year have been lower than expected,” Jorge Aguilar, Cirtek president, said. Revenue for the six-month period was down 11 percent to $48.64 million, from last year’s $54.84 million. For the April to June quarter alone, its income declined 60 percent to $2.25 million, from last year’s

$5.58 million. “The company remains well-positioned for future growth,” Cirtek Chairman Jerry Liu said. “We are particularly excited at Quintel’s new generation of wireless base station antennas,” he said, adding that its products provide advance features and enhancements that other vendors do not currently offer. They also address current and potential customers’ specific requirements, such as rooftopoptimized antennas and SONWav antennas that are deployed in sites with restrictions. VG Cabuag

casinos, hospitals and clinics, gyms and spas. Prior its launching on Tuesday, Air Intellipure signed contracts with its first customers, namely, Belo Medical Group, City Garden Grand Hotel, Fitness District Philippines and KMC Solutions Coworking Spaces. The firm’s Pure Wellness program will be installed in a Belo clinic in Taguig, making it the first of its kind in the whole of Asia. “We are proud to announce that Belo clinics will be the first certified Pure Wellness clinics in Asia with the first location slated

mutual funds

to open in BGC [Bonifacio Global City] in November, raising the standard of indoor hygiene and client comfort and peace of mind to a whole new level,” Gitsis added. Air Intellipure is the official distributor of Intellipure, an air purification system that cleans indoor air filled with ultrafine particles that can cause cardiovascular diseases, stroke, cancer, among others, when inhaled. The firm can also install the Pure Wellness program, a patented surface and air filter technology that removes air pollutants from indoor spaces.

October 22, 2019

NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds ALFM Growth Fund, Inc. -a 254.14 4.37% -1.73% -0.18% 0.77% ATRAM Alpha Opportunity Fund, Inc. -a 1.5014 8.25% 2.38% 0.47% 4.21% ATRAM Philippine Equity Opportunity Fund, Inc. -a 3.8902 2.81% -3.24% -1.69% -0.33% Climbs Share Capital Equity Investment Fund Corp. -a 0.9475 9.06% n.a. n.a. 5.16% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.8618 7.23% n.a. n.a. 5.01% First Metro Save and Learn Equity Fund,Inc. -a 5.3979 7.69% 0.16% 0.26% 2.36% First Metro Save and Learn Philippine Index Fund, Inc. -a,6 0.8655 7.44% -3.85% n.a. 3.44% MBG Equity Investment Fund, Inc. -a 114.48 4.28% n.a. n.a. -1.45% PAMI Equity Index Fund, Inc. -a 51.8775 9.68% 0.24% n.a. 5.39% Philam Strategic Growth Fund, Inc. -a 539.21 9.41% -0.69% 0.21% 4.75% Philequity Dividend Yield Fund, Inc. -a 1.3053 7.26% 0.45% 1.39% 4.09% Philequity Fund, Inc. -a 38.4089 8.4% 1.25% 1.32% 4.85% Philequity MSCI Philippine Index Fund, Inc. -a,1 1.0309 n.a. n.a. n.a. n.a. Philequity PSE Index Fund Inc. -a 5.2734 10.87% 1.03% 2.22% 6.34% Philippine Stock Index Fund Corp. -a 880.47 10.9% 0.93% 2.17% 6.28% Soldivo Strategic Growth Fund, Inc. -a 0.895 8.41% -0.61% n.a. 4.07% Sun Life Prosperity Philippine Equity Fund, Inc. -a 4.271 9.15% 0.65% 1.45% 5.23% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 1.0113 10.44% 0.86% n.a. 5.97% United Fund, Inc. -a 3.7037 9.32% 2.42% 2.78% 5.8% Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 118.0531 11.2% 1.69% 3.2% 6.6% ATRAM AsiaPlus Equity Fund, Inc. -b $0.9651 4.19% 2.13% -0.42% 3.87% Sun Life Prosperity World Voyager Fund, Inc. -a $1.296 5.64% 7.66% n.a. 17.26% Balanced Funds Primarily invested in Peso securities ATRAM Dynamic Allocation Fund, Inc. -a 1.5955 -0.91% -3.81% -3.32% -3.37% ATRAM Philippine Balanced Fund, Inc. -a 2.2604 5.08% -1.37% -0.23% 2.32% First Metro Save and Learn Balanced Fund Inc. -a 2.6463 7.26% 0.67% -1.06% 4.06% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,5 0.2352 n.a. n.a. n.a. n.a. Grepalife Balanced Fund Corporation -a 1.3445 5.21% n.a. n.a. 3.08% NCM Mutual Fund of the Phils., Inc. -a 1.9615 9.29% 1.04% 1.33% 6.42% PAMI Horizon Fund, Inc. -a 3.7916 11.5% -0.03% 0.57% 7.43% Philam Fund, Inc. -a 16.9825 11.04% -0.03% 0.48% 6.76% 6.55% 0.49% 1.42% 3.74% Solidaritas Fund, Inc. -a 2.1465 Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.8836 9.14% 0.78% 1.11% 6.36% Sun Life Prosperity Achiever Fund 2028, Inc. -a,d,2 1.0184 n.a. n.a. n.a. n.a. Sun Life Prosperity Achiever Fund 2038, Inc. -a,d,2 1.0057 n.a. n.a. n.a. n.a. Sun Life Prosperity Achiever Fund 2048, Inc. -a,d,2 1.0026 n.a. n.a. n.a. n.a. Sun Life Prosperity Dynamic Fund, Inc. -a 0.9849 9.51% 0.32% 0.67% 6.86% Primarily invested in foreign currency securities Cocolife Dollar Fund Builder, Inc. -a $0.03831 10.63% 2.29% 2.17% 8.53% PAMI Asia Balanced Fund, Inc. -a $0.9914 6.21% 2.06% 0.11% 8.5% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $3.7664 6.27% 5.65% 3.81% 13.84% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,7 $1.1083 6.13% 3.38% n.a. 10.28% Bond Funds Primarily invested in Peso securities ALFM Peso Bond Fund, Inc. -a 355.14 4.07% 2.48% 2.26% 3.4% ATRAM Corporate Bond Fund, Inc. -a 1.921 3.43% 0.18% -0.02% 3.32% Cocolife Fixed Income Fund, Inc. -a 3.0909 5.01% 5.26% 5.22% 3.86% Ekklesia Mutual Fund Inc. -a 2.2121 4.68% 1.59% 1.98% 3.89% First Metro Save and Learn Fixed Income Fund,Inc. -a 2.3392 5.74% 1.61% 1.5% 6.08% Grepalife Fixed Income Fund Corp. -a P 1.6088 2.33% -0.64% -0.02% 2.84% Philam Bond Fund, Inc. -a 4.3168 14.42% 1.27% 1.65% 10.13% Philequity Peso Bond Fund, Inc. -a 3.7448 8.47% 2.07% 1.53% 6.47% Soldivo Bond Fund, Inc. -a 0.9523 9.32% 0.26% n.a. 6.86% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.037 10.46% 2.9% 2.43% 9.81% Sun Life Prosperity GS Fund, Inc. -a 1.6803 9.85% 2.33% 2.01% 9.12% Primarily invested in foreign currency securities ALFM Dollar Bond Fund, Inc. -a $465.97 4.53% 2.03% 2.8% 3.92% ALFM Euro Bond Fund, Inc. -a Є219.97 3.15% 1.27% 1.46% 3.43% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.2023 7.32% 2.33% 2.52% 6.8% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0258 4.03% 1.06% 1.37% 4.03% Grepalife Dollar Bond Fund Corp. -a $1.7129 1.36% -1.46% 0.32% 1.34% PAMI Global Bond Fund, Inc -a $1.0973 7.18% -0.02% -1.25% 5.89% Philam Dollar Bond Fund, Inc. -a $2.4033 12.81% 2.08% 3.21% 10.71% Philequity Dollar Income Fund Inc. -a $0.0602477 5.94% 2.04% 2.05% 5.7% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.1678 10.1% 1.53% 2.72% 10.3% Money Market Funds Primarily invested in Peso securities ALFM Money Market Fund, Inc. -a 125.01 4.24% 2.7% 2.11% 3.42% First Metro Save and Learn Money Market Fund, Inc. -a,3 1.025 n.a. n.a. n.a. n.a. Philam Managed Income Fund, Inc. -a 1.2436 6.14% 2.41% 1.53% 5.22% Sun Life Prosperity Money Market Fund, Inc. -a 1.2575 3.88% 2.82% 2.23% 3.14% Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.034 2.17% n.a. n.a. 1.78% a - NAVPS as of the previous banking day. b - NAVPS as of two banking days ago. c - Listed in the PSE. d - in Net Asset Value per Unit (NAVPU). 1 - Launch date is January 3, 2019. 2 - Launch date is January 28, 2019. 3 - Launch date is February 1, 2019. 4 - Launch date is August 1, 2019. 5 - Launch date is September 28, 2019. 6 - Renaming was approved by the SEC last October 12, 2018 (formerly, One Wealthy Nation Fund, Inc.). 7 - Adjusted due to stock dividend issuance last October 9, 2019. "While we endeavor to keep the information accurate, the Philippine Investment Funds Association (PIFA) and its members make no warranties as to the correctness of the newspaper’s publication and assume no liability or responsibility for any error or omissions. You may visit http://www. pifa.

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

Editor: Angel R. Calso

The World

China seeks $2.4 billion in penalties against U.S. at WTO

BusinessMirror

ERLIN—China is asking the World Trade Organization (WTO) for the right to impose $2.4 billion in annual penalties on the United States in a case over Chinese subsidies dating back years.

A document published on Monday showed China has called for the matter to be considered by the WTO’s Dispute Settlement Body next Monday. The matter would be referred to a WTO arbitrator if the US objects to the

Wednesday, October 23, 2019 amount China proposes. The request stems from a July WTO appellate decision in a case dating to before the Trump administration, and unrelated to the tariffs it has slapped on Chinese goods.

Washington criticized that decision, which it said recognizes that China uses state-owned enterprises to subsidize and distort its economy but contends the US must use “distorted Chinese prices” to measure subsidies. AP

Wednesday, October 23, 2019

The World BusinessMirror

Trump says China signals trade talks on target for November deal

resident Donald J. Trump said China has indicated that negotiations over an initial trade deal are advancing, raising expectations the nations’ leaders could sign an agreement at a meeting next month in Chile.

“They have started the buying,” Trump said on Monday during a Cabinet meeting at the White House, referring to Chinese purchases of US agriculture products that the president has pushed for as part of a deal.

“I want more,” he added. Earlier on Monday, Commerce Secretary Wilbur Ross said that it was more important to get details of the agreement right than it was for Trump to sign it at an expected meeting with

Chinese President Xi Jinping next month in Chile. Stocks in Asia gained on Tuesday after US equities advanced as positive signs emerged on trade talks and ahead of earnings from some of the world’s biggest companies. S&P 500 futures rose suggesting there is scope for the underlying gauge to extend gains after it surpassed 3,000. Ross also told Fox Business Network that the “actual meat” of the agreement would come in two additional phases yet to be completed. While the White House touted a preliminary agreement earlier this month, officials in Beijing have yet to confirm anything is set in stone. US officials have said China would significantly increase purchases of

American agricultural commodities and agree to some intellectual property, financial services and currency concessions. In exchange, the US paused a tariff increase due to hit in the middle of October, just ahead of Christmas shopping season. The agreement represents a pause in the 18-month trade war that has hurt the economies of both countries, but falls short of the dramatic overhaul of Chinese economic policy Trump has sought. The agreement also doesn’t address Huawei Technologies Co., which has pushed forward with a global effort to sign 5G commercial contracts even as the US seeks to persuade other countries to blacklist the firm. Bloomberg News

Oil steady as US crude supplies swell while trade hopes advance

il was steady as investors weighed expectations for swelling American crude stockpiles against signs of US-China trade progress. Futures in New York and Brent crude in London were little changed after falling the past two days. US crude inventories probably rose for a sixth time through the week ended October 18, the longest run of gains in almost a year, according to a Bloomberg survey before government data on Wednesday. President Donald J. Trump said China has indicated talks on a trade deal are advancing, offering a glimmer of hope for global demand.

Oil has slid from an April peak as the dispute between Beijing and Washington dented demand and as US crude inventories expanded above their five-year seasonal average. The impact of the trade war is responsible for about 70 percent of the price decline, while the rest is a result of abundant supply, according to Bloomberg Economics, predicting the trend will continue next year. “The oil market is listless and rangebound,” said John Driscoll, chief strategist at JTD Energy Services Pte., in Singapore. It’s facing macroeconomic headwinds, weaker fundamentals and onerous tanker

freight rates, he said. West Texas Intermediate (WTI) for November delivery, which expires on Tuesday, fell 8 cents to $53.23 a barrel on the New York Mercantile Exchange as of 7:42 a.m. in London. The more-active December contract fell 16 cents to $53.35. Brent for December settlement lost 9 cents to $58.87 on the London-based ICE Futures Europe Exchange after closing 0.8 percent lower on Monday. The global benchmark crude traded at a $5.51 premium to WTI for the same month. US crude stockpiles are expected to increase by 3 million barrels, according to the median estimate of 11 analysts surveyed

by Bloomberg. If confirmed by the Energy Information Administration, it would be the longest run of gains since November. Industry data is due later on Tuesday. Trump said on Monday he hopes to sign a trade deal at a summit in Chile next month, while US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin will speak with their Chinese counterparts on Friday. Policy-makers in China are preparing for two key meetings in the coming weeks with fresh evidence that economic growth, already at its lowest in almost three decades, will continue to slip.

Bloomberg News

www.businessmirror.com.ph

Prosecutors seek court change for Goldman Sachs’s 1MDB trial

UALA LUMPUR, Malaysia—Malaysian prosecutors on Tuesday sought a court change for Goldman Sachs’s criminal trial over its role in the alleged multibilliondollar ransacking of state investment fund 1MDB. Hisyam Teh Poh Teik, a lawyer for Goldman, said prosecutors informed the magistrate court now hearing the case that they had applied to transfer it to the high court. He said the lower court scheduled an update on the transfer to be heard December 16. Prosecutors didn’t give any reasons for the transfer but a move to a higher court usually reflects the seriousness of the case. Malaysian and US prosecutors allege bond sales organized by Goldman Sachs for 1MDB provided one of the means for associates of former Malaysian leader Najib Razak to steal billions from a fund that was ostensibly set up to accelerate Malaysia’s economic development. Three Goldman subsidiaries and two former executives were charged in December for alleged breaches of securities laws, including making false, misleading statements to investors. Another 17 more current and former directors at Goldman were charged in August with allegedly conniving to commit the massive fraud. Hisyam declined to comment on the allegations. Goldman has pleaded not guilty to the charges. In January, Goldman CEO David Solomon apologized to the Malaysian people for former banker Tim Leissner’s role in arranging the bond sales for 1MDB. Solomon has said the investment bank conducted due diligence but was misled by Leissner and former Malaysian government officials. Leissner, who headed Goldman’s operations in Southeast Asia, pleaded guilty in the US last year to money laundering conspiracy and conspiring to violate foreign bribery laws. Malaysia’s government has said the apology was insufficient and that Goldman must pay $7.5 billion as compensation. Najib set up 1MDB when he took office in 2009, but it accumulated billions in debts and US investigators allege at least $4.5 billion was stolen from the fund and laundered by Najib’s associates. AP

Editor: Angel R. Calso

The World BusinessMirror

Emperor Naruhito ascends Chrysanthemum Throne

OKYO—Emperor Naruhito ascended the Chrysanthemum Throne on Tuesday, proclaiming himself Japan’s 126th emperor as the audience shouted “banzai” to wish him a long and prosperous reign. Naruhito pledged at an enthronement ceremony at the Imperial Palace to serve his constitutional duty as a symbol of the state and to stay close to the people, as Prime Minister Shinzo Abe congratulated him and led three banzai cheers. The cheers traditionally means “ten-thousand-year” of long life. “I hearby proclaim to inside and outside of the country that I have enthroned,” Naruhito said as he stood inside the Imperial Throne. “I hereby swear that I will act according to the constitution and fulfill my responsibility as the symbol of the state and of the unity of the people of Japan, while always praying for the happiness of the people and the peace of the world as I always stand with the people.” Naruhito, in a formal brownish-orange robe that has been dyed in sappanwood and Japanese wax tree bark and a black headdress decorated with an upright tail, appeared as a pair of black-robed chamberlains opened the purple curtains of the throne at the sound of a bell. The throne, called “Takamikura,” is a 6.5-meter (21-foot) high decorative structure resembling a gazebo or something at the Forbidden City in China. It was transported from the former Imperial Palace in Japan’s ancient capital of Kyoto, where emperors lived until 150 years ago. The enthronement ceremony is the high point of several succession rituals that began in May when Naruhito inherited the throne after the abdication of Akihito, his father. Naruhito is the 126th emperor in the world’s oldest hereditary monarchy that historians say goes back 1,500 years. The proclamation is largely meant to allow the government to showcase the monarchy to win public support and to preserve Japan’s cultural heritage, historians say. Despite the time, effort and cost put into preparations,

New blow to Johnson’s Brexit plan after vote on deal blocked

ONDON—Britain faced another week of grinding political gridlock after Prime Minister Boris Johnson was denied a chance on Monday to hold a vote by lawmakers on his Brexit divorce bill. With just 10 days before Britain’s scheduled departure date, Johnson’s government had sought a “straight up-and-down vote” on the agreement he struck last week with the 27 other EU nations laying out the terms of Britain’s exit. But the speaker of the House of Commons, John Bercow, refused to allow it because lawmakers voted to delay approving the Brexit deal on Saturday, and parliamentary rules bar the same measure from being considered a second time during a session of Parliament unless something has changed. Bercow’s ruling plunged the tortuous Brexit process back into grimly familiar territory. The government must now try to implement its Plan B—attempt to pass a Brexit-implementing bill through Britain’s fractious Parliament before the country’s scheduled October 31 departure date. Bercow—whose rulings in favor of backbench lawmakers have stymied government plans more than once before—said the motion proposed by the government was “in substance the same” as the one Parliament dealt with on Saturday. He said it would be “repetitive and disorderly” to allow a new vote on Monday. On Saturday—Parliament’s first weekend sitting since the 1982 Falklands War—lawmakers voted to make support for the Brexit deal conditional on passing the legislation to implement it. Johnson’s Conservative government will now try to do that. The government published the 115-page bill late Monday, will hold the first vote on it Tuesday and hopes to have it become law by October 31. But it’s unclear whether Johnson has either the time or the numbers to make that happen. Passing a bill usually takes weeks, but the government wants to get this one done in 10 days. Johnson needs a majority in Parliament to pass it, but his Conservatives hold just 288 of the 650 House of Common seats. The process also gives lawmakers another chance to scrutinize—and possibly change—the legislation. Opposition lawmakers plan to seek amendments that could substantially alter the bill, for example by adding a requirement that the Brexit deal be put to voters in a new referendum. The government says such an amendment would wreck its legislation and it will withdraw the bill if it succeeds. Brexit Secretary Stephen Barclay urged lawmakers to back the bill and—more than three years after British voters narrowly voted to leave the EU—“enable us to move onto the people’s priorities like health, education and crime.” “This is the chance to leave the EU with a deal on October 31,” he said. “If Parliament wants to respect the referendum, it must back the bill.” With the Brexit deadline looming and British politicians still squabbling over the country’s departure terms, Johnson has been forced to ask the EU for a three-month delay to Britain’s departure date. He did that, grudgingly, to comply with a law passed by Parliament ordering the government to postpone Brexit rather than risk the economic damage that could come from a no-deal exit. But Johnson accompanied the unsigned letter to the EU late Saturday with a second note saying that he personally opposed delaying Brexit. Pro-EU activists, who took the government to court in Scotland to ensure that it complied with the law, said the second letter might amount to an attempt to frustrate the legislation. Scotland’s highest court said Monday it would keep the case open, retaining the power to censure Johnson’s government until its obligations under the law have been complied with “in full.” The claimants’ lawyer, Elaine Motion, said the ruling meant “the sword of Damocles remains hanging” over the government. The bloc said the fact Johnson had not signed the letter was irrelevant. AP

Japan’s Emperor Naruhito attends a ceremony to proclaim his enthronement to the world, called Sokuirei-Seiden-no-gi, at the Imperial Palace in Tokyo, Japan, on Tuesday, October 22, 2019. Issei Kato/Pool Photo via AP

the ceremony lasted only about 30 minutes. The enthronement ceremony was originally modeled after one by the ancient Tang dynasty of China and the second of a three-part process following the May succession. Next month sees the highly religious and divisive ritual of the Grand Harvest. Some experts have raised questions over the government’s funding of ¥16 billion ($150 million) for ceremonies that contain religious rites. Criticism was largely eclipsed by the festive mood, in part because Naruhito’s succession was by abdication not by death, palace watchers said. Abe’s ultra-conservative government also granted pardons marking the occasion. The decision was

published on Tuesday in the special edition of the official gazette, which provided for about 550,000 eligible applicants. The decision was not publicly debated. The pre-war custom of clemency by the emperor has triggered criticism as being undemocratic and politically motivated. At the time of former emperor Akihito’s enthronement, 2.5 million people were given amnesty. Earlier Tuesday, the 59-year-old emperor put on a white robe and prayed at “Kashikodokoro” and two other shrines. The visits on Tuesday morning are to report to gods ahead of the ceremony, to be attended by 2,000 guests from in and outside Japan. Enshrined at Kashikodokoro

is the goddess Amaterasu, the mythological ancestress of Japan’s emperors. Later Tuesday, Naruhito and his wife Masako, a Harvard-educated former diplomat, will host a court banquet, to be attended by about 400 foreign dignitaries and representatives from Japan’s administrative, legislative and judicial branches and their spouses. A parade originally planned for Tuesday afternoon has been postponed until November 10 due to a deadly typhoon that caused flooding and other damage in central and northern Japan. Naruhito and Masako have been warmly welcomed by the Japanese public, despite comparisons to their beloved predecessors. They made positive impressions by freely conversing with US President Donald Trump and first lady Melania during their visit weeks after Naruhito’s succession in May, palace watchers say. “I think people have high expectations for the emperor who is fluent in foreign language and internationalized,” said historian and monarchy expert, Eiichi Miyashiro, also a journalist. Naruhito is a historian, a viola player and an expert on water transport who studied at Oxford. Masako, a Harvard-educated diplomat, has struggled for more than a decade since developing “adjustment disorder” after giving birth to their only child, Princess Aiko, and facing pressure to produce a boy in Japan’s monarchy that only allows male heirs. AP

Wednesday, October 23, 2019

Venezuelans buy gas with cigarettes to battle inflation

ARACAS, Venezuela—Motorists in socialist Venezuela have long enjoyed the world’s cheapest gasoline, with fuel so heavily subsidized that a full tank these days costs a tiny fraction of a US penny. But the economy is in such shambles that drivers are now paying for fill-ups with a little food, a candy bar or just a cigarette. Bartering at the pump has taken off as hyperinflation makes Venezuela’s paper currency, the bolivar, hard to find and renders some denominations all but worthless, so that nobody will accept them. Without cash in their wallets, drivers often hand gas station attendants a bag of rice, cooking oil or whatever is within reach. “You can pay with a cigarette,” said Orlando Molina, filling up his subcompact Ford Ka in Caracas. “Heck, it’s no secret to anyone that it goes for nothing.” Gas is so dirt-cheap that station attendants don’t even know the price. Empty-handed drivers get waved through, paying nothing at all. This barter system, while perhaps the envy of cashstrapped drivers outside the country, is just another symptom of bedlam in Venezuela. The South American nation of roughly 30 million people is gripped by a deepening political and economic crisis. People live with a nagging feeling that anything from violent street protests to a massive power failure could throw their lives into chaos at any moment. More than 4 million Venezuelans have fled the country in recent years, escaping low wages, broken hospitals, failing basic services and lack of security. The International Monetary Fund says inflation is expected to hit a staggering 200,000 percent this year. Venezuela dropped five zeros from its currency last year in a futile attempt to keep up with inflation. Soaring prices quickly devoured the new denominations. The smallest bill in circulation, 50 bolivars, is worth about quarter of a US penny. City buses and even banks don’t accept it, arguing it would take such a thick wad of bills to pay for even the most modest items that it wouldn’t be worth the trouble. The largest bill, 50,000 bolivars, equals $2.50. AP

B6 Wednesday, October 23, 2019

Eurotel Naga revamps to boost tourism PLDT empowers public schools nationwide through digital literacy program

EADING telco and digital services provider PLDT recently partnered with the University of the Philippines Open University (UPOU) for the 2019 PLDT Infoteach Outreach Program. In collaboration with the UPOU Foundation, this year’s PLDT Infoteach Outreach Program underscores the importance of life-long learning, social transformation, and sustainable development in education. It is a 12-month-long program that has two components, including the training component and the PLDT HomeFibr Broadband Quiz Contest. As a flagship program of the company, the PLDT Infoteach Outreach Program aims to provide both school-based and community-based learning built on a

strong foundation based on 21st-century competencies. This includes criticalthinking, digital literacy, progressive training and life-long learning. “PLDT recognizes the vital role of technology and development in education. The PLDT Infoteach Outreach Program enables students and teachers and other participating sectors to adapt in the digital age. It provides a variety of teaching modules and learning tools that range from digital literacy and social transformation which lead to life-long learning,” PLDT Community Relations (ComRel) Division Head Katherine P. Diaz De Rivera. The training component of the Program covers four phases including the Training of Master Trainers (TMT).

This is conducted by the UPOU with participants from 10 Department of Education (DepEd) Schools Division. The second phase is the Training of Trainers (ToT). This is composed of two teachers from each of the participating schools from the DepEd Schools Division. The third phase is the enrollment to a massive open online course (MOOC) offered by the UPOU. The last phase is the Training Roll-out to the participating schools and barangays (the “Training Components”). The Program aims to have at least 15 participating schools in each of the 10 DepEd Schools Division. Each school aims to train at least 20 students and 20 teachers. It also aims to include 20 OSYs from 10 selected LGUs from the barangay-based training. The training component aims to produce 30 master trainers and 300 trainers; at least 3,000 trained teachers and 3,000 trained students. “The PLDT Infoteach Outreach Program is anchored on the United Nations Sustainability Development Goals (SDG), specifically SDG #4 Quality Education. Distance and online learning is the future, and digital literacy ultimately empowers Filipino students and teachers to pursue quality education,” said UPOU Chancellor Dr. Melinda Bandalaria.

ICOL region is about to get a boost in tourism, following the grand relaunch of Eurotel Naga as it shapes up to take travel and leisure on another level. Eurotel Naga, one of the leading hotels in the Queen City of Bicol Region, promotes local industry in greater heights through incorporating its own in-house travel tour. Featuring five tourist hotspot locations, Eurotel Hotel takes its guests on an exciting and unforgettable experience they will surely treasure. Whether it’s the thrilling ride around Mayon Volcano, island hopping in Caramoan, extreme watersports in CamSur, island escapade in Calaguas, or an up-close and personal encounter with a whaleshark, Eurotel’s #LoveLokal tour packages will surely bring summer all-yearlong in your calendars. “Our main goal is to simply improve the local tourism industry here in Bicol with our own tour packages. We offer the top tourist destinations to the guests for them to truly enjoy what Bicol region has to offer,” Ms. Sue Geminiano, Marketing Manager cited. Ideally situated near the central district of Naga City, Eurotel Hotel has been one of the top choices by many tourists visiting Bicol region, since it first opened in October 2013.

Boasting 83 smartly designed rooms, therapeutic massage services and conveniently located near the business, medical, and commercial district, Eurotel Hotel-Naga caters to every guest in different walks of life. The hotel also offers a 24/7 wide selection of international cuisine alongside the best local dishes of Bicol Region and different function rooms to cater receptions or corporate events. Truly, Eurotel Hotel is a wonder in Naga City, blending superb service and relaxing stay at an exceptional rate thus meeting the demand for unique lodging services. “Aside from the picturesque tour packages, we’re also proud to bring you the local cuisine of Bicol, filling your stomachs at your heart’s content. Enjoy some of the local’s best delicacies such as the Lokal Naga Ensalada, Pancit Bato, Tinumok (similar to pinangat and laing), Kandingga, and Tinutong na Manok,” Ms. Sue added. Eurotel Hotel offers guests a unique cultural and comfortable experience paired with extraordinary service and hospitality. Indeed, Eurotel Naga is the perfect home away from home. So what are you waiting for? Experience a yearlong summer with Eurotel Naga now. For reservations, call us at (02) 8353-6000.

THE TRITON BALL:

Jpark Island Resort & Waterpark Mactan, Cebu celebrates 10 years of fun & luxury

PARK Island Resort & Waterpark Mactan, Cebu’s quadruple celebration – 10th Anniversary Ball, Pororo Park launching, Building G soft-opening and Triton Grand Ballroom launching – marked and showed beyond doubt the resort’s continuous evolution to consistently become the leading 5-star family water park resort in Mactan Island. Dubbed as “The Triton Ball,” Jpark’s 10th Anniversary celebration was held inside the Triton Grand Ballroom which turned out to be a replica of an underwater paradise duplicating the mystical kingdom of King Triton. When the grand doors of the Triton Grand Ballroom were open to commence the festivities, guests were greeted with an awe-inspiring opera song performance from one of the country’s most prominent opera singers, Zsarie Vidal. Dinner was served while Vidal along with a quartet headed by Francis Balo continues to serenade and entertain all guests. Members of the media, corporate clients, resort’s executives and VIPs enjoyed the feast. Everyone loved the wide selection of culinary masterpieces prepared by Jpark’s brilliant culinary team headed by Christopher Shim, Food & Beverage

Director. Filipino, Western, Chinese Stations which include Roasted rib eye, Slow-cooked supreme light soya duck in Chao Zhou Style, Braised classical assorted seafood in Cantonese Style, Whole tuna and salmon sashimi, were the highlights of the epicurean night. The program officially kicked off with a fabric dance performance from Jpark’s pride, the Amigos. The awarding of Jpark’s partners with distinction then followed. With over 1,300 guests who took part in this momentous celebration, Jpark Island Resort & Waterpark Mactan, Cebu’s 10 years of providing nothing but the best of Filipino hospitality to all its local and foreign guests proved that they continue to stay on top of their game in the hospitality industry. Earlier that day, Jpark Island Resort & Waterpark also launched some of its latest

MEMBERS of the Uy family led the ceremonial toasting at the Triton Grand Ballroom, from left: Jerome Uy, Jean Uy- Young, CEO Jason Uy, Corporate Secretary Jerry Uy, Jarvis Uy, Dr. Judy Uy-Chan, James Uy, Lapu-Lapu City Mayor Junard Chan, Mrs. Marcella Uy, Chairman & President Justin Uy, VP for Sales & Marketing Ryan Cho, VP for Finance Brenda Haluag, General Manager Jonathan Nowell and Joven Uy.

Jpark Island Resort & Waterpark Mactan, Cebu’s General Manager Jonathan Nowell as he delivers his welcome speech.

Lapu-Lapu City Mayor Junard Chan congratulates Jpark Island Resort & Waterpark on its 10th year in becoming the leading 5-star resort in Mactan, Cebu.

developments which include the Philippines’ first-ever Pororo-themed Park and Rooms.

JPARK Island Resort & Waterpark Mactan, Cebu’s pioneering employees on stage as they JPARK Island Resort’s very own, “Amigos”, presents an amazing fabric dance for all Triton perform their dance number to show their gratitude to all members of the manage- Ball guests. ment and partners on their continued support.

Jpark Island Resorts & Waterparks Chairman & President Justin Uy shares some of their biggest projects GARY Valenciano with Kiana Valenciano in a duet in the years to come. they performed for all guests at The Triton Ball.

Interactive games, which mostly are a first in the Philippines, were unveiled. Perfect for kids and kids-at-heart, the Pororo Park consists of more than 20 fun games and activities which include Petty’s Merry-go-round, Eddy’s Sliding Car, Pororo Train, Tutu’s 5D Rider, Sliding Ball Pool, Crong’s Jungle Gym, Rody’s Racing Game, Digital Sketch, Pororo Fishing Zone, an Aqua Play Zone, an indoor Giant Slide and so much more! Twenty (20) Pororothemed rooms will also soon be home to interactive games called Touch-Touch, Gym Play and a Ball Pool. With the limitless leisure offered by this resort, they now give more reasons for guests to enjoy their 5-star dream. Looking back at the 10 years of their triumph, Jpark Island Resort & Waterpark Mac-

tan, Cebu envisions future endeavors they have yet to encounter. For 10 remarkable years, Jpark Island Resort has evolved to become the leading 5-star family water park resort in Mactan Island. With enormous expansions as it opens new buildings and launching the grandest ballroom: The Triton Grand Ballroom, Jpark continues to stay on top of the game. “Our family’s vision is to open at least 250 rooms every year and develop new properties around the country to transform islands into a tourist paradise. We have set plans for Cordova, and Oslob here in Cebu, and Anda in Bohol. We are also considering Siargao and Palawan in the near future. We are excited to open more than 400 guest rooms by last

quarter of 2020 at Jpark Island Resort, Panglao Bohol. With these and more, we continue to create exciting opportunities, build new communities, and explore never-ending possibilities.”Chairman & President Justin Uy shared. As the only tourist hub in the Philippine Economic Zone, it provides world-class services for both local and international travelers giving every tourist the avenue where they can experience both fun and luxury without having to leave the comfort of the resort. And because of this, more and more families have visited the resort, bringing in over 6 million visitors each year. “I see no signs of stopping. This 2020, we will continue to grow and become bigger and better. We will become the best as we will build stronger relations with our guests, our employees, and our environment, and our country.”, he added. To show gratitude to all the support they’ve received throughout the years, Jpark’s 152 pioneering employees performed a wonderful dance number for all “The Triton Ball” guests. Guests got even more excited when they knew that Kiana Valenciano is performing for them that night. The magical evening further impressed the event’s guests with vigorous performances from Mr. Pure Energy himself, Gary Valenciano. The night ended with a prize being raffled off to all guests who came, a round trip ticket to New York City. Lucky winners that night also got to take home Pororo Park access, accommodations in a Royal Suite, Pool Villa, Jacuzzi Villa and Pororo-themed Suites, dining vouchers and a lot more! All guests absolutely had a great night and are looking forward to the resort’s new developments in the years to come. Jpark Island Resort and Waterpark, Cebu is located at M.L Quezon Highway, Brgy. Maribago, Lapu-Lapu City, Cebu, Philippines. For more information contact (632) 494 5000, visit www.jparkislandresort.com; email rsvn@ jparkislandresort.com. Check out facebook. com/jparkislandresort or follow @Jparkresort on Instagram and Twitter for updates.

Murray picked to represent GB in Davis Cup finals

ANDY MURRAY has not played in the team tournament since 2016. AP

ONDON—Andy Murray has been chosen to play for Britain in the Davis Cup finals, organizers said Monday. The three-time Grand Slam champion, who won a title on Sunday for the first time since hip surgery in January, has not played in the team

tournament since 2016. Britain will play the Netherlands and Kazakhstan in the group stage of the revamped tournament next month in Madrid. Also, Rafael Nadal and Daniil Medvedev could meet in a repeat of the US Open final after being chosen to represent Spain and Russia, respectively. The 2018 champion Croatia is also in that group. Top-ranked Novak Djokovic has been named to Serbia’s team, which faces France and Japan. Kei Nishikori is missing from Japan’s team. An arm injury has prevented the eighth-ranked Nishikori from playing since his US Open third-round loss to Alex de Minaur in August.

“So sad to miss this,” Nishikori wrote on Twitter. Germany’s team is led by 41stranked Jan-Lennard Struff in the absence of sixth-ranked Alexander Zverev, who has instead chosen to play a series of exhibition matches against Roger Federer in Mexico and South America. The 31st-ranked Taylor Fritz is the highest-ranked player on the US team alongside Reilly Opelka, Sam Querrey, Francis Tiafoe and Jack Sock. The US Tennis Association said the team would be its youngest in the Davis Cup for a decade, with an average age of 25. The US plays Canada and Italy in the group stage. The new-look Davis Cup format sees 18 nations compete from November 18 through 24. The tournament starts with round-robin matches in six three-team groups with the top 8 teams qualifying for quarterfinals.

CRUISE FOR FEDERER

PLAYING in his 1,500th tour-level match, Roger Federer needed just 53 minutes to cruise past German qualifier Peter Gojowczyk 6-2, 6-1 Monday at his hometown Swiss Indoors event in Basel. The nine-time Basel champion hit 12 aces in the first-round match to extend his winning streak at Saint Jakobshalle to 21 straight matches, and improve his Association of Tennis Professionals (ATP) career record to 1,232 wins and 268 losses. The 38-year-old Swiss is topseeded this week as he looks to add to his 102 career tour titles. Federer won the last four times he played the Swiss Indoors—missing the 2016 edition through injury— since a 2013 final loss against Juan Martin del Potro. He next plays 33rd-ranked Dusan Lajovic or 49th-ranked Radu Albot. AP

SUSPENSE STORY

Sports

LeBron James and Kawhi Leonard want to bring the excitement back to Los Angeles. AP

BusinessMirror

| Wednesday, October 23, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

By Brian Mahoney The Associated Press

OR five years, the National Basketball Association (NBA) Finals have returned to the same spot, the longest run ever in one Western Conference location. LeBron James and Anthony Davis want to bring them back to Los Angeles. So do Kawhi Leonard and Paul George. With the Warriors weakened and powerhouse pairs popping up all over the place, the 2019-20 NBA season, unlike many in recent years, is a suspense story. Both LA teams will try to give it a Hollywood ending. When a whirlwind of player movement was finished, the real winner, as James noted, was Staples Center, which is now home to two title contenders in the Lakers (the way it used to be) and Clippers (the way it’s never been.) “I agree with what Bron said,” George said. “The Staples Center is where you want to be with the team we got and with the team they have.” The finals’ Western Conference headquarters had moved north in recent years, with Golden State building a dynasty in the Bay Area. But Kevin Durant is gone, Klay Thompson is injured, and even Stephen Curry’s sharpest shooting might not be able to keep the run going. It wasn’t good enough last season, when Durant and Thompson were hurt in the finals and Leonard led Toronto to its first championship. Leonard then joined fellow Southern California native George with the Clippers, who have never even gotten out of the second round but are now considered title favorites. Davis was traded to the Lakers, who loaded up quickly after flopping in James’s first season. Those teams meet Tuesday on opening night, when

the regular season gets started after a turbulent preseason overshadowed by tension between the NBA and China. The Raptors get their rings in the first game before facing New Orleans, whose heavily hyped rookie Zion Williamson injured his knee late during exhibition play. Toronto lost two starters to Los Angeles, with Danny Green signing with the Lakers. That could open the door for Most Valuable Player Giannis Antetokounmpo and the Milwaukee Bucks, or the Philadelphia 76ers to seize the East title. The wide-openness of the league this season is a far cry from recent years, when travel plans to the Bay Area in June could be assumed months in advance, or when James’s teams in the East went to eight straight NBA Finals. “You can’t call who the NBA champion is,” Hall of Fame player and TNT analyst Reggie Miller said. “Before you would have three, four teams that were deadlocked. You know they’re going to be there. This year, given no injuries, a team getting hot, chemistry obviously issues, there’s a lot of teams that can go for it. But the Lakers and Clippers being headliners.” They’re

NZAI CITY, Japan—Not only did Jason Day win the inaugural “The Challenge: Japan Skins” game on Monday, beating Tiger Woods, Rory McIlroy and Hideki Matsuyama, he also won the needling contest. Turning to Woods after receiving the trophy, Day asked how many similar events Woods had played in. “Tiger, this is what—your fifth of sixth?” Before Woods could reply, Day supplied the rejoinder. “He hasn’t won one yet. I found that out today when he told me.” Woods and everyone else laughed, which captured the lighthearted day at the Narashino Country Club, where the made-for-TV skins game finished under floodlights on the 17th and 18th holes. “First time I’ve ever finished under lights, so that was exciting,” Day said, surprised the sun goes down about 5 p.m. in the fall in the Tokyo area. Day won eight skins and $210,000. Woods had five skins and $60,000 with McIlroy taking four and winning $60,000. Matsuyama won only one skin and $20,000. “I’m disappointed I had only one,” Matsuyama said, speaking through an interpreter and also getting a laugh. It was Woods’s first event after surgery two months ago, the fifth on his left knee. He’ll get a stiffer test at the Zozo Championship that opens Thursday—the first-ever full Professional Golfers Association Tour event in Japan. Woods said it was great “just being able to compete again. I haven’t done this in a little bit now.”

DAY’S JAPAN SKINS WINNER Jason Day beats Tiger Woods in inaugural “The Challenge: Japan Skins.” AP

This season, that will be harder than ever. “The West is stacked all the way up and down,” Curry said. Some other things to know about the NBA season:

REVVED-UP ROCKETS

hardly alone among the contenders out West. Denver, Portland and Utah all figure to be tough. And don’t count out the Warriors, who’d like their new Chase Center in San Francisco to be the same spring destination that the Oracle Center in Oakland was.

HOUSTON acquired Russell Westbrook to join James Harden, putting two recent MVPs in the same backcourt. Westbrook’s next triple-double will be his 139th and break a tie with Magic Johnson for second on the career list, while Harden will be aiming for a third straight scoring title after averaging 36.1 points last season.

COACH’S CHALLENGE

NBA coaches will have a chance to get calls overturned as the league implemented a coach’s challenge on a one-year trial basis. Each team is allowed

one per game and can challenge either a foul called on its own team, the call of an out-of-bounds violation, or a goaltending or basket interference violation.

WINNING WARRIORS

GOLDEN State’s NBA Finals streak is the second-longest in NBA history, behind only the 10 straight trips by the Boston Celtics from 1957-66. The Warriors’ hopes of extending it could depend largely on the play of guard D’Angelo Russell, an All-Star last season in Brooklyn who was acquired when Durant went to the Nets.

WHO WINS?

THE Clippers have never even played in a conference finals, but they’re the favorites of both oddsmakers and NBA general managers. With Leonard and George on the wings, a potent bench and one of the league’s best coaches in Doc Rivers, it’s easy to see why. “It’s not about what people think or what they picked, it’s about the work we do and what our mindset is going to be,” Leonard said. “If we don’t want to win then we’re not going to win. If we want to, then we have a big chance to win.”

By his own assessment, he started very slowly. “I did not play well at the beginning,” he said. “I hit a lot of bad shots and did not putt well. Once I got into the flow of competing and feeling the round, it just got exciting. We were competitive, the banter was great, the back and forth.” Woods, who had a hand in organizing the event, said he hoped “we were entertaining everyone and everyone who’s watching had a good time.” They probably did. On No. 4, Woods seemed to try to take advantage of the fact the Narashino Country Club has two greens on every hole. It’s a tradition at some courses in Japan, alternating greens to keep them both in good shape. Woods hit a shot between two greens and Day got on him. “I asked him [Tiger] to let me know which green he was going for,” Day said. “But he was in between so I still don’t know which one he was going for.” Woods agreed. “I hit in between the greens, so it looked kind of like I didn’t know what I was doing,” he said. Both greens at No. 4 will be used this week at the tournament. A hole will be cut in each and players will choose which to play to. The Narashino club is located about 50 kilometers northeast of Tokyo in Chiba prefecture. The course for next year’s Tokyo Olympics will be at Kasumigaseki Country Club in neighboring Saitama prefecture. AP

Spo

Business

Wednesday, October 23, 2019

Barraquias, McKenzie share honors in Buglasan

aclean Barraquias wore down top seed Roel Capangpangan in a duel of power and baseline game as he hacked out a 6-4, 5-7, 10-6 decision to claim the men’s singles Open crown in the Palawan Pawnshop-Palawan Express Pera Padala (PPS-PEPP) Buglasan Tennis Festival at the Praxevilla Tennis Courts in Dumaguete City last Sunday. The No. 2 Barraquias later teamed up with sibling Keane to score a repeat over Capangpangan and Carmelo Cabaral, 8-6, and bag the doubles diadem to sweep the centerpiece division of the Group I tournament that served as part of Negros Oriental’s “Festivals of Festivals.” Sharing top honors were Legends division winners Mories Mesiona and Gundel Orcullo, Randy Tatoy and Vardy Vincoy, and Rudy Cabatit and Tony Alviola, while young Khymbery McKenzie and Randy Tatoy II

dominated the juniors division of the event put up by Gov. Roel Degamo in tie-up with the PPS-PEPP headed by President and CEO Bobby Castro. Mesiona and Orcullo routed John Lundqvist and Rameses Tolin, 8-3, in the 40s finals; Tatoy and Vincoy trounced Angel Mahinay and Tolin, 8-4, for the 50s title; and Cabatit and Alviola crushed Glem Grapa and Chabby Saberon, 8-4, to pocket the 60s plum in the event presented by Dunlop and backed by MCF Global. McKenzie, meanwhile, stunned top seed Ellaine Bahonsua, 4-1, 0-4, 10-5, in the semis then held off sibling Ashley McKenzie, 6-4, 6-3, to clinch the girls’ 18-under crown while Tatoy II thumped top seed Lorenz Celis, 6-3, 6-1, in the boys’ 18-under finals. Khymberly actually completed a rare “treble” as she ruled the 14-under and 16-under classes over Faith Banico, 7-6(4), 4-2, and Ashley, 6-3, 6-4, respectively, while Tatoy II completed a double by blasting Philip

Standhardinger

Mesiona, 6-0, 6-0, in the 16-under finals. Herman Illusorio fended off Kirby Ramacho, 6-3, 7-5, for the boys 14-under crown while Banico whipped Jean Patoc, 4-1, 4-0, and Ramacho ripped Kurt Barrera, 6-2, 6-1, in the 12-under finals; and David Sepulveda turned back top seed and doubles partner Pete Bandala, 6-4, 5-7, 10-6, in the 10-under unisex championship. The McKenzies also copped the doubles 18-under plum with an 8-3 romp over Bahonsua and Ghilliana Yu with Celis and Jerson Padilla clinching the boys’ title with an 8-7(1) decision over Clyde Singson and Emmanuel Carmona. Other winners were Banico-Sheynna Yu and Illusorio-Ramacho (14-under) and Sepulveda-Bandala (10-under unisex).

ALL EYES ON C-STAND

MaClean Barraquias (left) holds his trophy as he poses with Roel Capangpangan (center) and Raneses Tolin of the Negros Oriental Sports Development Program.

THE “Los Viejos”—Spanish for “The Old Guys”—are a big part of why Anthony Rendon and the Nationals are getting ready to face the Astros in the Fall Classic. AP

‘LOS VIEJOS’ THEY AREN’T

ASHINGTON—National League (NL) Most Valuable Player (MVP) candidate Anthony Rendon surveyed his teammates scattered around the Nationals Park diamond, whoopin’ it up after clinching a World Series berth. There were starting pitchers Max Scherzer and Aníbal Sánchez, each 35—and each responsible for taking a no-hit bid into at least the seventh inning as Washington won Games One and Two

of the NL Championship Series. So was Howie Kendrick, 36, the second baseman who earned NLCS MVP honors with four doubles and four RBIs in the sweep. And Ryan Zimmerman, 35, the first baseman slugging .484 this postseason. “A lot of old guys on the team,” Rendon observed. “They call themselves ‘Viejos.’” Indeed, they do, and “Los Viejos”—Spanish for “The Old Guys”—are a big part of why the Nationals are getting ready to face the Astros in the Fall Classic, which opens Tuesday night in Houston.

There’s also catcher Kurt Suzuki, 36, and reliever Fernando Rodney, 42, the oldest active player in the majors. “People think we are old men and we can’t do things,” said Rodney, who credited Suzuki with originating the nickname. “So we say, ‘Vamos, Viejos! You can do it!’” They helped make Washington the oldest club in baseball in 2019, with an average age of a tad under 31. The Astros aren’t exactly spring chickens,

either: With an average age of just above 30, they ranked third oldest out of Major League Baseball’s 30 clubs. Just like the Nationals, their roster includes a half-dozen players who are at least 35, including rotation stalwarts Justin Verlander and Zack Greinke. Astros star Alex Bregman has noticed. “I know how they say let the kids play,” the 25-year-old third baseman said Monday. “But there are some veterans that can show the kids how to play.”

Makes sense to Suzuki. “Older players sometimes get devalued a little bit, just because of the age,” he said. “You can call us old, but that’s fine. We don’t care. We feel like we can still contribute and we can still play at a high level. And I think that’s the only thing that matters.” Scherzer, for example, is a three-time Cy Young Award winner who followed up yet another stellar regular season by compiling a 1.80 ERA in four appearances in the playoffs; Washington went 4-0 in those games. AP

LL eyes will be on Christian Standhardinger as the Filipino-German big man dons a NorthPort jersey for the first time against— of all teams—his former team San Miguel Beer in a much-anticipated Philippine Basketball Association Governors’ Cup on Wednesday at the Cuneta Astrodome in Pasay City. Standhardinger was shipped by the Beermen— who was picked No. 1 in the draft two years ago but found himself with San Miguel Beer via a controversial trade—to the Batang Pier in exchange for Moala Tautuaa in what could be one of the most stunning trades in years. And just how he would stand up against the Beermen (5-1 won-lost) with the Batang Pier (2-4) would be known in the game that tips off at 7 p.m. Winners of the past two conference titles and playing as a back-up to June Mar Fajardo, Standhardinger find himself playing a fresh role with NorthPort. And he could only think of the missed chance of winning a rare grand slam as he leads a young Batang Pier squad with rookie Robert Bolick as main man. “I wish I could’ve had a chance to win a grand slam. But it is what it is,” Standhardinger said. “And I think the players of San Miguel are great, I wish them the best.” Used to only an average of 11 minutes in San Miguel uniform, Standhardinger’s numbers dropped to four points and 4.7 rebounds as he was sparingly used at an average of 11 minutes in his previous games with San Miguel Beer. But Coach Pido Jarencio assured the big man of heavy minutes at NorthPort. “For sure, he will play over 30 minutes a game,” Jarencio said. Blackwater (2-4) tackles the out-of-groove Rain or Shine (1-5) at 4:30 p.m. Ramon Rafael Bonilla

orts

sMirror

Wednesday, October 23, 2019

Juvic Pagunsan joins hunt as the Summit Point unwraps in Batangas.

HE country’s senior pros take center stage on Wednesday as they slug it out for top honors side by side with the amateurs in the “Play with the Masters” golf tournament at the Villamor Golf Club. Many-time Masters champion Robert Pactolerin banners the field that includes the likes of Mario Siodina, Caloy Nival and Mario Manubay, who have dominated the local golf scene during their prime, along with the other golfing seniors 50 years old and above. The 18-hole tournament also features the amateur division in both the men’s and ladies categories where participants will get the rare chance to play and learn from the former masters of the game. Tee-off is at 6 a.m. with one pro and three amateurs making up each flight. The event, organized by the Senior Professional Golfers Association of the Philippines and backed by Ellesse, RMN Media and Marketing Ventures, Seven Echo, Serve Well, Lubestraders Corp., distributor of Shell oil and GCAP Ventures Philippines, is also staged to raise funds for the training and upgrading of the senior pros’ teaching skills. The amateur side will have two categories— the regular 54 years old and below, and the seniors 55 years old and above to be classified under Classes A, B and C to be played under the System 36 scoring format. Cash prizes plus gift items will be staked in the centerpiece seniors pro division while trophies and prizes will be up for grabs in the amateur side.

PAGUNSAN SIGHTING IN LIPA CITY J

uvic Pagunsan signed up for the International Container Terminal Services Inc. (ICTSI) Summit Point World 18 Challenge, completing another power-packed cast of local and foreign talents in a Philippine Golf Tour Asia (PGTA) event unfolding on Wednesday at the Summit Point Golf and Country Club in Lipa City. Holder of a record streak of four on the PGT, Pagunsan hopes to make the most of a break from his Japan Professional Golfers Association (PGA) Tour campaign as he seeks top honors against the best and the brightest in the $100,000 championship that features three aces eyeing to become the lone two-leg winner in the third season of Asia’s newest circuit and a mix of strong players from at least 15 countries.

‘Play with the Masters’ on at Villamor

HILIPPINE Sports Commission (PSC) Chairman William Ramirez reiterated the agency’s concern over the welfare—training and preparation— of athletes as the country’s hosting of the 30th Southeast Asian Games reached its critical stage. “The heart and soul of this SEA Games are the athletes and we are taking care of them. We have not been remised of our responsibility,” Ramirez told the Philippine Sportswriters Association (PSA) Forum on Tuesday at the Amelie Hotel Manila. Ramirez, also the chef de mission of Team Philippines to the Games, repeated his goal of repeating the “Miracle of 2005,” referring to the country emerging as overall champion when it

last hosted the biennial games in 2005. From a regular annual budget of P300 million, the PSC, under the directive of Malacañang, has spent thrice as much so far this year to make sure that the athletes are welltrained and highly motivated. “We went beyond that [previous budget]. As of September, the PSC has spent P1 billion for our athletes,” said Ramirez, adding the bulk are spent on foreign exposure and equipment. The PSC also increased the daily and meal allowances of national athletes—651 male and 462 female—and coaches (346), and worked on upgrading their living quarters and training facilities. The Rizal Memorial Sports Complex, which was built in 1934, is undergoing a major facelift, and whether or not work will be completed for the SEA Games, the national athletes will benefit

Karatekas intensify 30th SEA Games preparations

he national karate team is currently training overseas in preparation for the 30th Southeast Asian Games (SEA Games), as well as the qualifying tournaments for next year’s Tokyo 2020 Olympics. The Philippine Sports Commission (PSC) sent the karatedos abroad for a two-month international training and exposure to ensure their good performances in the SEA Games and the Olympic qualifiers. The national kumite team has been training in Turkey since last month under Turkish Coach Okay Arpa and will be back by October 30 in time for peaking and the last stages of preparations for the

SEA Games set from November 30 to December 11. The national kata team are also in Japan since last month and will also be back in November in time for the SEA Games. “The PSC has extensively supported our athletes’ training, both at home and overseas,” PSC Chairman William Ramirez said. “We are not dropping our chances. Athletes should get their training and exposure.” Jamie Lim, a Mathematics summa cum laude graduate at the University of the Philippines and daughter of Philippine Basketball Association legend Samboy Lim, is one of those being picked as a potential SEA Games gold medal winner.

Lim won gold in the -68 kgs kumite in the recent Amator Spor Haftasi Karate Championship in Sakarya, Turkey, a strong indication of her potential; domination in her weight class in the SEA Games, along with Filipino-American Jone Orbin, and Filipino-Japanese Junna Tsukii and Sheriff Afif. Other medal hopefuls include Miyuki Tacay, Rexor Tacay, Ivan Agustin, Mae Soriano, prince Alejo, Sharief Alejo and Eugene Dagohoy. Karate Pilipinas President Richard Lim said that Filipino-Americans Jone Orbin and Filipino-Japanese Junna Tsukii have very good chances of qualifying for Tokyo 2020 where karate will be played as an Olympic medal sport for the first time.

UE’s Abanto suspended for unsportsmanlike foul

HE University Athletic Association of the Philippines (UAAP) slapped University of the East’s (UE) Nick Abanto a one-game suspension for his unsportsmanlike foul during his team’s game against Ateneo last Sunday. Abanto was not called for any infraction by the referees when he swung his arm and hit Ateneo’s William Navarro in a rebound battle with four minutes into the match that the Blue Eagles won, 84-50. But after a review of the game, commissioner for basketball Jensen Ilagan slapped the penalty on Abanto, who will miss the Red Warriors’ game against the Far Eastern University Tamaraws on Sunday. “Upon multiple reviews of the incident, we

saw that there was intent by Mr. Abanto to hit Mr. Navarro that causing him to fall and eventually be carried off the playing court,” Ilagan said. “The action was unprovoked and his intention to hurt was apparent. Therefore, an unsportsmanlike foul shall be assessed against him.” According to article 4.3 of the UAAP Basketball Rules, “The Commissioner has the power to impose additional penalties. This power may be exercised to non-calls but involve abhorrent acts in nature including, but not limited to, flagrant unsportsmanlike fouls, and conduct that involves dangerous and dirty tactics and supported by the official video.” University of the Philippines, meanwhile, tries to tighten its hold of second spot against

A love affair to keep Al Mendoza | alsol47@yahoo.com

THAT’S ALL TOKYO, Japan—I have just barely recovered from jet lag after my recent trip to San Francisco-New York. But here I am again, heeding my winged feet’s call last weekend to bring me here in the land of the so-called rising sun. Again. This journey isn’t just a repetition of similar trips to geisha country. It has practically become a ritual already as I’d been doing this, regularly, since 1993. Regularly because this has become a refrain once every two years the past 26 years. That long, fellas. No, it’s not a trip of fancy but rather, a commitment to do replicate the journey without end, for as long as I am able. I am a sucker of emotional attachments, you know? More nostalgia? The once-every-two-years trip to Japan began when Mel Dizon, the legendary guru of the automotive industry formerly from

They include Luisita and Taiwan leg champions Namchok Tantipokhakul and Wisut Artjanawat, both from Thailand, and Tony Lascuña, winner of the other Taiwan event last month, plus the likes of locals Clyde Mondilla, Jhonnel Ababa, Jay Bayron, Reymon Jaraula, Keanu Jahns, Michael Bibat, James Ryan Lam and defending champion Joenard Rates. Put in former PGT Asia leg titlist Damien Jordan and David Gleeson, both from Australia, Americans Brett Munson, Joshua Salah and Lexus Keoninh, Dutch Guido van der Valk and KoreanAmerican Micah Shin, the fight for the top $17,500 purse indeed couldn’t get any fiercer, tighter in the next four days. While the power hitters have the edge

at the Robert Trent Jones Jr.-designed layout which features replicas of 18 of the world’s most renowned golf holes, the title could be decided on the final putt the way it was last year when Rates battled back from six strokes down in regulation then nipped Finland’s Janne Kaske in sudden death to end a long title spell. But the diminutive shotmaker will be facing tall odds this time with Pagunsan tipped to recall the form he flaunted in stringing up four straight victories in the Bacolod, Negros, Iloilo and Riviera legs of the PGT last June and August. The smooth-swinging Negrense, who dominated the PGT Asia leg at Riviera last March, also shot a 64 to place joint 12th in the storm-hit Bridgestrone Open in Chiba, Japan, two weeks ago.

‘ATHLETES, ABOVE ALL’ By Ryniel Berlanga

Mitsubishi Motors Philippines, invited me to cover the Tokyo Motor Show, the iconic exhibition of concept cars and other futuristic thrusts on mobility beginning in 1954. After Mel’s invite in 1993, I was never the same again. I am a sportswriter first and foremost but in 1991, Eggie Apostol, the inimitable Inquirer founder, appointed me the full-time editor of the Inquirer Motoring Section. I was also then the paper’s assistant sports editor and was writing a sports column three times a week, as well. The 1993 Tokyo Motor Show opened motoring vistas to me that struck the heart and stuck in the mind. I said to myself then: And I thought I knew everything already about cars. Thus, when Nissan invited me next to the 1995 Tokyo Motor Show, I readily grabbed it. Then it was Honda’s turn in 1997. But after Vince

National University (NU) while other Final Four contenders jockey for position at the resumption of the men’s basketball tournament at the Araneta Coliseum on Wednesday. Last season’s runners-up Fighting Maroons try to improve their 7-4 won-lost record and close in on the No. 2 spots in the semifinals that grant the remaining twice-to-beat advantage when they battle the also-ran Bulldogs (2-9) in the 10:30 a.m. curtain-raiser. A win by the Diliman-based team will also assure them of at least a playoff for a semifinal berth. Also looking to bolster its bid for the second seed is No. 3 University of Santo Tomas (7-5) which takes on No. 5 De La Salle (5-6) at 4 p.m. Ramon Rafael Bonilla Socco got me included in the Toyota delegation for the 1999 edition of the TMS, it signaled a radical overhaul of my stints to the biennial affair. For reasons known only to Toyota Motor Philippines, the car giant invited me again in the 2001 event. It broke tradition: Car companies love to rotate their invites to motoring journalists covering the Tokyo Motor Show. But, suddenly, not Toyota. So that Toyota’s bigwigs, for reasons again known only to them, reinvited me anew in 2003. And in 2005. And in 2007. The invite kept coming back so that since 1999 up to this year, I have become a Toyota fixture. Overall, I have now covered the Tokyo Motor Show 11 uninterrupted times from 1999. Seemingly, it has become a love affair so enduring that the Samson-Delilah romance could pale in comparison. Who said there’s no forever? THAT’S IT While motorsports like the Formula 1 and Nascar races are virtual exclusive domains of sports, they command special space in the motoring pages, as well—simply because those events offer limitless studies of a car’s engine, chassis and fuel. Thus, I write about those events every now and then in my motoring column here, “Full Tank,” the weekly piece I had done 15 straight years at the Inquirer before transporting it here in 2007.

from the new-look facility. The PhilSports Arena in Pasig City and Teachers’ Camp in Baguio City, two other facilities under PSC supervision, are also undergoing major repairs. Ramirez said the PSC could not have done it without the help of the Philippine Amusement and Gaming Corp.(Pagcor). Ramirez said that the exposure in training and competitions overseas would bring out the best out of the athletes when the country hosts the SEA Games for the fourth time— after 1981, 1991 and 2005—from November 30 to December 11 in multiple venues. “Because of that exposure, I am confident. We can deliver a surprise in the SEA Games,” said Ramirez during the forum presented by San Miguel Corp., Braska Restaurant, Amelie Hotel and Pagcor. “And it’s very inspiring to see the results.

We have found new heroes,” said the PSC chief, referring to gymnast Caloy Yulo, female boxer Nesthy Petecio and pole vaulter EJ Obiena. “With all our investment, I am confident that our athletes will deliver in this SEA Games,” he added.

PHILIPPINE Sports Commission Chairman William Ramirez is confident that Filipino athletes will emerge overall champions in the 30th Southeast Asian Games. ROY DOMINGO

Tantipokhakul and Artjanawat are also coming into the event confident of their respective chances for cracks at a second PGTA crown, so does Mondilla, fired up by his playoff loss to Aussie Tim Stewart in last week’s ICTSI CAT Open, also of PGTA, at Luisita. Ababa also hopes to put up a strong start and fuel his bid for a fifth PGT Asia diadem while Lascuña, relieved of the pressure to deliver after posting three straight victories on the PGTA and PGT, is, likewise, expected to be in the early mix of contenders in the 72-hole championship organized by Pilipinas Golf Tournaments Inc. and backed by PLDT Enterprise, Meralco, BDO and PGT Asia official apparel Pin High.

ALL ABOUT RIGHTS R

OME—The Italy women’s national soccer team was awarded the Foreign Press Association’s Invictus award Monday for promoting and “emancipating” the female game in the country with its run to the World Cup quarterfinals. Head Coach Milena Bertolini and forward Barbara Bonansea were given the award during a ceremony at the Rome-based association. With soccer dominated by men in Italy and few opportunities for girls, Bertolini recounted how she had to dress up as a boy to play as a kid. “Now things are changing, thanks to the Italian federation’s school programs,” Bertolini said. Bertolini and Bonansea lamented that female players are still not considered professionals and, therefore, are not permitted to earn more than €30,000 ($33,500) per year by Italian law. “It’s not about the money, it’s a question of rights,” said Bonansea, who also plays for Italian champion Juventus. While Italy’s men’s team is a four-time World Cup champion, the women had not played in a World Cup for two decades and entered as a prohibitive underdog during its opening match against Australia in France in June. But the Azzurre came back from a goal down for a 2-1 win courtesy of Bonansea’s two scores, with her second coming in the fifth minute of stoppage time. “That goal shaped our World Cup, both in terms of results and in terms of promoting women’s soccer in Italy,” Bertolini said. “The strong emotions on the field were transmitted to everyone who was watching. I still get goosebumps now just thinking about that goal.” The Azzurre went on to win their group then beat China in the first knockout round before losing to eventual finalist the Netherlands. In a country of 60 million people, a total of more than 20 million spectators watched Italy’s five matches on RAI state TV,

Sports BusinessMirror

| Friday, October 23, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

ITALY women’s National Team Coach Milena Bertolini (right) and forward Barbara Bonansea pose with the Invictus sports award at the Foreign Press Association in Rome on Monday. AP

Study reveals dementia concerns in pro soccer

ONDON—A study of former professional soccer players in Scotland finds that they were less likely to die of common causes, such as heart disease and cancer compared with the general population but more likely to die from dementia. The results raise fresh concerns about head-related risks

from playing the sport—at least for men at the pro level. Researchers from the University of Glasgow reported the results in the New England Journal of Medicine on Monday. They compared the causes of death of 7,676 Scottish men who played soccer with 23,000 similar men from the general

population born between 1900 and 1976. Over a median of 18 years of study, 1,180 players and 3,807 of the others died. The players had a lower risk of death from any cause until age 70. However, they had a 3.5 times higher rate of death from neurodegenerative diseases such as Alzheimer’s or Parkinson’s. In absolute terms, that risk remained relatively small—1.7 percent among former players and 0.5 percent for the comparison group.

Former players also were more likely to be prescribed dementia medicines than the others were. The results “should not engender undue fear and panic,” Dr. Robert Stern, a Boston University scientist who has studied sports-related brain trauma, wrote in a commentary published in the journal. The findings in professional players may not apply to recreational, college or amateur-level play, or to women,

setting audience records for women’s soccer game after game. The Invictus award is dedicated to “promoting the positive effects of sports in terms of integration and emancipation by the vulnerable sections of society.” UEFA, meanwhile, has punished Serbia for racist fan incidents by ordering the stadium to be closed for its next home game in European Championship qualifying. The sanction was announced as UEFA weighs action against Bulgaria for racist abuse of England players last week. The incidents involving Serbia fans came during a 4-2 loss to Portugal last month. The team will now play in an empty stadium when Serbia hosts Luxembourg on November 14. UEFA also imposed a €33,250 ($37,000) fine. Serbia will be in a one-year probation period when Ukraine visits three days later for the final Group B game. Ukraine already qualified for Euro 2020 and Portugal is favored to take the second qualifying place. In London, the FA Cup qualifying match between Haringey Borough and Yeovil that was abandoned following racist abuse will be replayed next week. The Football Association said Monday that the match will be replayed from the start on October 29 at Haringey’s home ground. Saturday’s game saw the players walk off in the 64th minute, shortly after Yeovil had gone 1-0 up via a penalty. Haringey officials said after the game that its Cameroonian goalkeeper Valery Pajetat and defender Coby Rowe had both been targeted by racial abuse by visiting fans. London police said they had arrested two men, age 23 and 26, on Monday on suspicion of racially aggravated common assault in connection with the incident. The FA said: “Following the incident in the original tie and the two arrests already made, the FA’s investigation is ongoing. We are continuing to work with the relevant authorities on our investigation into the matter.” The winner of the game will advance to the first round of the FA Cup. AP

Stern noted. “Parents of children who headed the ball in youth or high-school soccer should not fear that their children are destined to have cognitive decline and dementia later in life. Rather, they should focus on the substantial health benefits from exercise and participation in a sport that their children enjoy,” while also being aware of the risks of head-balling, Stern wrote. AP

God of our praise

EAR God, You are the joy of all the Earth. In faith we pray: Let us walk by the light of Your glory, oh God. Grant Your Church wisdom to discern the signs of the times and act in love. Surround children with love and lead them to reverence You in all creation. Give everlasting life and fullness of peace to those who have died because of violence. May God guide our feet to stand firmly on the Gospel that leads to everlasting life, in Jesus our brother. Amen. GIVE US THIS DAY SHARED BY LUISA LACSON, HFL Word&Life Publications • teacherlouie1965@yahoo.com

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

AMID calls from some Democrats to suspend US President Donald J. Trump’s account, Twitter says world leaders’ accounts aren’t entirely above its policies and that it will enforce those policies on any account that violates rules, such as promoting terrorism. AP

Life BusinessMirror

DUCHESS OF SUSSEX CALLS 1ST YEAR OF MARRIAGE DIFFICULT D3

Wednesday, October 23, 2019

European countries bust massive illegal file-sharing ring BERLIN—German prosecutors say authorities in three European countries have dismantled a massive illegal filesharing site for movies, music and pornography. Prosecutors in the western state of North RhineWestphalia say police in Germany, the Netherlands and France searched property in the three countries on Wednesday linked to three men accused of operating the site. In a statement on Thursday, prosecutors said the suspects—aged 40 to 54—are accused of running the biggest site in Germany for illegally sharing copyrighted material. Prosecutors said the operation is believed to have generated revenues of more than €50 million between April 2008 and October 2017. The trio had hired servers with a capacity of more than 10,000 terabytes, which is enough to store about 5 million hours of video. AP

World leaders’ accounts not entirely above policies, says Twitter

BY BARBARA ORTUTAY The Associated Press

AN FRANCISCO—Twitter says world leaders aren’t entirely above its ban on users threatening violence or promoting terrorism on the site. The San Francisco company is clarifying its rules as some Democrats say they would like to see President Donald J. Trump booted off Twitter, his favored platform for filterless communication with the world. But while Twitter says it will enforce its policies against any user when it comes to material such as child sexual abuse, direct threats of violence against a private individual, or posting someone’s private information, it doesn’t appear Trump’s account is in imminent danger. A blog post this week expanded on Twitter’s policy governing tweets. In June, Twitter said world leaders’ tweets that violate its rules but have a clear publicinterest value might get a warning label. The label would provide context on the violation and let people to click through to see the tweet if they want to. While Twitter said in June that it will not use its algorithms to “elevate” or otherwise promote tweets that have a warning label, it now says it also won’t let people retweet or comment on them. People will still be able to “quote tweet” the material. Quote tweeting lets users add their own message above someone else’s tweet and post it on their own timeline. This nuance shows the fine line Twitter is trying to walk with its policy—it wants to promote free expression and allow people to comment on controversial tweets, but it doesn’t want to promote them on their own, without context. With all that, the company has yet to slap a tweet with a warning label since putting its policy into effect. So is it all for show? Below are some questions and answers about Twitter’s policy. WHAT DID TWITTER DO? ON Tuesday, Twitter said it’ll take action on any account—world leader or not—that makes clear and direct threats of violence against a person, depending on the context. What is this context? A world leader interacting directly with another public figure, or commenting on political and foreign policy issues, would “likely not result in enforcement,” Twitter said.

“Foreign policy saber-rattling on economic or military issues are generally not in violation of the Twitter Rules,” the blog post reads. For instance, Trump has threatened Iran on Twitter, prompting his critics to call for his removal from the service. But based on Twitter’s policy, that doesn’t count as a violation. But other things, such as promoting terrorism, posting someone’s private information such as an address or phone number, promoting self-harm, engaging in child sexual exploitation or sharing intimate photos of someone without their consent could all get a world leader kicked off Twitter. WHY DID TWITTER DO THIS? TWITTER wouldn’t say what prompted Tuesday’s blog post. But there’s been growing pressure from Democrats, including presidential candidate and California Sen. Kamala Harris, to remove Trump from Twitter because of what they see as bullying and abuse. In a public letter to Twitter CEO Jack Dorsey, Harris listed offending tweets from Trump such as one on September 29 when he wrote that he wants Democratic Rep. Adam Schiff arrested and questioned for “treason.” “No user, regardless of their job, wealth, or stature should be exempt from abiding by Twitter’s user agreement, not even the President of the United States,” the letter reads. But not only has Twitter not removed Trump, the tweets in question are without any warning label. Even with Tuesday’s explanation, it is not entirely clear what tweets from a world leader could get one. Since Schiff is also a public figure, Twitter could say it doesn’t count even if he is targeted by the president. WHAT DO CRITICS THINK? TWITTER has critics on all sides. Keegan Hankes, research analyst for the Southern Poverty Law Center’s Intelligence Project who focuses on farright extremist propaganda online, called the policy statement a step in the right direction. But, he added, Twitter is essentially arguing “that hate speech can be in the public interest. I am arguing that hate speech is never in the public interest.” If Trump’s tweets were to get a warning label, however, this could fuel his supporters’ ire toward Twitter. The president routinely complains, without evidence, that social-media sites are biased against

him and other conservatives. OTHER COMPANIES? NEITHER Facebook nor Google (or YouTube) have specific policies exempting world leaders from their rules. But Trump’s use of Twitter is unique as it is unprecedented, so other social-media companies have not felt the same pressure to enact such a policy. All the big social-media companies generally ban direct threats of violence, supporting terrorism, as well as hate speech and abuse. But enforcement can be spotty on all counts, and context matters—even in the president’s case, many of the tweets that offend his critics could fall in a gray area. That said, Facebook’s recently announced policy of not fact-checking politicians’ posts or advertisements has drawn fire from critics including Sen. Elizabeth Warren, another Democratic presidential candidate. To prove her point, Warren took out an ad on Facebook that purposely made the false claim that Facebook CEO Mark Zuckerberg had endorsed Trump for president. YouTube, meanwhile, says it removes material that violates its community guidelines, regardless of who posts it. “We do not treat politicians any differently,” said YouTube Spokesman Farshad Shadloo. ■

ERIC SULIT (left), president of Ricoh Philippines, and Allan Tan, managing director of Monstar Lab Philippines

RICOH PHL EMBRACES AUTOMATION WITH MONSTAR LAB

TECHNOLOGY and imaging leader Ricoh Philippines embraces robotic process automation to speed up its work processes and reduce human errors. Through its strategic partnership with Monstar Lab Philippines, Ricoh will utilize the tech’s firm product called RAX Editor, a robotic process automation (RPA) tool that allows users to automate manual processes flawlessly across different applications and environments through assisted or unassisted automation. RAX Editor is specifically targeting to improve Ricoh’s billing cycle, which includes meter billing and finance lease billing, among others. Automating the billing cycle means less overtime for employees and opportunity to do more valuable work rather than tedious repetitive work. “Some parts of our operation have to put in a lot of overtime in order to get things done. This is especially true in our accounting department where some processes are not fully automated by our ERP. With RPA, we can automate manual and repetitive processes. We expect this to allow our employees to spend more time doing analytical work or communicating with our client,” said Eric E. Sulit, Ricoh Philippines Inc. president and CEO. Average manual processing to bill meter reading, for example, is around 22 minutes per transaction. By using RPA, Ricoh is expected to save 47 percent of the total time to bill each transaction. On top of this, the billing accuracy will also be improved, and the company is expected to save at least one day of the total turn around to send the bill to the customer. This is an additional improvement in terms of reduction of days to collect, thus helping to improve cash flow, as well. “Ricoh Philippines has been tremendously growing their business but wanted to retain the same work force. With RAX software’s help, the automation can help them achieve that,” said Allan Tan, the managing director of Monstar Lab Philippines, the local subsidiary of the global digital product development firm Monstar Lab group.

Share the love for streaming, gaming and more AMONG the many ways Filipinos explore their passions is through innovation and technology—those who, for example, boost their brainpower and concentration skills via mobile gaming, or find inspiration in favorite YouTube vlogs and social-media stories. Whatever the passions they showcase online, consumers can keep sharing more than ever with Smart’s ongoing promo “Gigafy Your Love” (www.smart.com.ph/ gigafy) that makes the most of their mobile data. Just dial *123# to avail of the new and updated Giga mobile data promos. For video junkies, the telco giant offers Giga Video and Giga Video+, complete with Video Every Day for up to one hour of YouTube and more every day. For mobile gamers, Smart offers Giga Games with Games All Day that provides 1GB of data for Mobile Legends: Bang Bang and more every day. And for those who love being in

the moment on social media, there’s go Giga Stories with 1GB of Stories All Day to stay updated with all the content on Facebook and Instagram daily. “We want every Filipino to be free to pursue all of their passions, no matter what they are—and this is why we’re more than thrilled to provide the best mobile Internet connectivity while giving them more time to do what they love online. Whatever it is that they’re passionate about— be it sports, gaming, music, entertainment or social media—Smart has got them covered,” said Smart Senior Vice President, Head of Consumer Business-Individual Oscar A. Reyes. He added, “Now more than ever, everyone can do more of what they love because our subscribers deserve to be able to spend precious time on the things that matter to them.”

Wednesday, October 23, 2019

Pet Corner BusinessMirror

www.businessmirror.com.ph

Today’s Horoscope By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Ryan Reynolds, 43; Cat Deeley, 43; Weird Al Yankovic, 60; Dwight Yoakam, 63. Happy Birthday: Strive for peace and tranquility. Walk away from adversity. Balance, equality and integrity will guide you to a positive end result. Purge, plan and take a progressive step forward. Leave what doesn’t work for you anymore in your rearview mirror, and concentrate on what’s doable and will lead to the lifestyle that suits you best. Change requires initiative, foresight and desire. Your lucky numbers are 2, 9, 14, 27, 32, 38, 49.

ARIES (March 21-April 19): Think twice before you respond. Emotions will take over if you let someone test your temper. Gravitate toward people who share your beliefs and have an interest in similar goals. HHH

TAURUS (April 20-May 20): Hold back information if it will buy you time to tweak what you are working on or trying to achieve. Learn from someone with experience when it comes to making physical moves that can alter your looks, future or position. HHH

GEMINI (May 21-June 20): Dig in and get things done. Now is not the time to discuss your plans; it’s time to initiate the change that will put you in a better position. Take charge and stay focused on the end result. HHHH

Leo (left) and Sally in the home of their owner in New York. Good Dog Cofounder Lauren McDevitt says that while dogs of varying sizes can get along well, it’s important to consider whether a dramatic difference in size will present a challenge or safety issue when adding a new pet to your home. GOOD DOG VIA AP

Getting a second dog? Be ready for something different

By Melissa Rayworth The Associated Press

oxy is one of those dogs who makes everything easy: “She’s just all love, very little maintenance,” Cameron Gearan says of her laid-back lab mix. “She never gets sick. She doesn’t bark.” When Gearan decided to bring a second dog into her Chicago home, she figured the new addition would offer more of the same. She soon discovered, however, that “you can’t get that dog twice, actually. That’s not going to happen.” Her new dog, Zack, required much more time, effort and expense than Roxy ever had. Though he’s now happily acclimated, Gearan says she struggled through moments when she wondered if this new arrangement could possibly work. That’s a common experience. “We sometimes have expectations of pet No. 2 that are colored by our experience with pet No. 1,” says Candace Croney, an animal behaviorist and director of Purdue University’s Center for Animal Welfare Science. “And it’s not necessarily fair to either of them.” Especially when a pet is getting older, bringing in a second animal can seem like a natural thing to do. Owners may hope a puppy can give the older pet an infusion of exercise and energy. They may also hope the presence of another pet will soften the blow when they eventually lose the older one. Brette Sember has had good luck adding a new golden retriever puppy to her home each time her older golden retriever has reached its final years. “It’s always gone smoothly,” says Sember, who lives in upstate New York. “There’s an adjustment period where they figure out dominance and become friends.

The hardest part is the housetraining, and policing the chewing [that] the new puppy does.” But for many pet owners and pets, the process can be challenging. The cheerful bonding they’d hoped for between two pets might not happen when a dog accustomed to being on its own is suddenly paired with an animal of a different age or temperament. Some tips if you’re considering getting a second dog: n CONSIDER THE COMMITMENT. It takes time, effort and money to add another pet to your home. “That puppy phase, it’s so time-intensive,” says Lauren McDevitt, cofounder of the pet placement service Good Dog. “So you need to think about whether you’re able to dedicate that time.” And even if you’re adding an older pet, it takes time: Introduce the pets slowly by keeping them mainly in separate spaces during the first days or even weeks. “I tend to give it a few weeks,” Croney says. “Most people don’t tend to have the patience to do that. But it’s much better to go slow and set things up to succeed rather than having to course correct.” Be patient with yourself and the pets on difficult days. As she incorporates a new puppy into her home, Sember says, “there is always at least one biting incident where the older dog establishes dominance. It’s happened every single time, but is never serious.” n WHAT AGE IS BEST? People often opt for a puppy or kitten, and that can work. Older dogs “can do well with a young puppy,” McDevitt says, “but sometimes it can be a little bit of a nuisance to them.” Croney agrees: “Many of these older pets just want to rest and relax” and might be happier if their new playmate were closer to their age. You may be hesitant to adopt an older animal, especially if you’re already facing medical issues

or concerns over losing your current pet, she says. “But older pets can be so wonderful and, frankly, are somewhat less work.” n THE RIGHT MATCH. Although it might seem logical to bring your current pet to a shelter or breeder to meet a prospective new friend, a dog’s behavior in a place crowded with other animals might not reflect what life would be like at home. And taking your dog to a dog park for the first time to assess their experience with other dogs also might not yield accurate information. Most important is really talking with the shelter staff or breeder about the right pet for your home. “Ask a lot of questions about the pet’s interaction with other animals,” McDevitt says. How much have they been around other pets, and have those experiences gone well? If you’ve found a possible candidate, Croney suggests introducing the dogs on leashes on a walk, so they can meet in a neutral space. Ideally, have them interact on walks on a few different days to see how they get along. Be sure the new pet is healthy to avoid any health risk to the other animal. Last, don’t assume the new pet will be able to handle the same routine as your current pet. Some dogs, like Gearan’s Zack, can’t tolerate being at a “doggie daycare,” for instance. Animals have their own personalities, habits and feelings, just like children, Gearan says. Despite the challenges, she says adding her second pet turned out to be a wonderful choice. “It was a learning experience and an expensive one,” Gearan says. “Now Zack is this incredible source of love in our family and none of us can imagine if he wasn’t here.” n

CANCER (June 21-July 22): Take control and do what you do best. Set your priorities straight, and make it clear to everyone around you what you want and what you are willing to give. Partnerships will be to your advantage and promote unique results. HH

LEO (July 23-Aug. 22): Get the lowdown before confronting someone about matters that will affect your relationship. Once you’ve expressed your thoughts and feelings, you cannot take your words back. Show compassion, patience and understanding, and try your hardest to get along. HHHHH

VIRGO (Aug. 23-Sept. 22): Make a statement, and you’ll make a difference. Speak up, share your thoughts and be ready to act. Be a part of the solution, and you’ll make new friends while earning respect and support from people who have something unique to offer. HHH

LIBRA (Sept. 23-Oct. 22): Instigate what you want to see happen. How you move forward will make a difference in the way you feel about who you are and what you stand for. Don’t back down. Make your voice heard and your actions count. HHH

SCORPIO (Oct. 23-Nov. 21): Look for options that are unique. Doing things differently will give you a new perspective on how to move forward. Think big, but when it comes to making decisions or taking action, be moderate. HH

i j

SAGITTARIUS (Nov. 22-Dec. 21): Take care of business. Stepping up and getting things done will have an impact on the way you feel and the way others treat you. Accomplishment is the antidote for feeling down and out. HHHHH CAPRICORN (Dec. 22-Jan. 19): Stay calm, even if you are blindsided with an emotional situation. Counter with a good attitude, kindness and consideration. Positive change will help you persuade others to see and do thing your way. HH

AQUARIUS (Jan. 20-Feb. 18): A reunion can bring back both good and bad memories. Don’t let anyone take advantage of you or pressure you into doing something that you don’t want to do. Arguing will be detrimental. HHHH

PISCES (Feb. 19-March 20): Set your course and stay on track. You can wheel and deal, negotiate, draw up and sign contracts or anything else that will bring you greater stability. Celebrate your success with someone you love. Personal change is favored. HHH Birthday Baby: You are ambitious, responsible and persistent. You are strong-willed and competent.

‘if I wrote the thesaurus’ by susan gelfand The Universal Crossword/Edited by David Steinberg

ACROSS 1 Z, in sorority names 5 Like a designated driver 10 Shirt pocket feature 14 Oversize screen format 15 Freelancer’s letter 16 Muddy up 17 Jab 18 Grammarian’s specialty 19 Loosen, as laces 20 “Historic” beginning 21 Expression that ought to relate to “even the score” 23 Pearl producers 25 Gobble up 26 Cardinals or Orioles 27 Rock fissures 32 Double jump, for one? 34 French wine valley 35 Hadrian’s “Hail!” 36 Certain Iraqi 37 “Marine” or “press” follower 38 Was informed 39 Holiday ___ 40 Croaking hoppers 41 Savanna predators

2 “Hot” deli sandwich meat 4 44 Barnyard youngster 45 Like sashimi 46 Jostled 49 Expression that ought to relate to “child’s play” 54 World Cup cheer 55 Mimicked 56 Island in the Dutch Caribbean 57 1982 movie with a hacker protagonist 58 Abs’ region 59 More disastrous 60 Rock band blasters 61 Wraps up 62 They represent states on the American flag 63 “Got it” DOWN 1 Zilch 2 Atlanta university 3 Expression that ought to relate to “goes into a spin” 4 Lumberjack’s tool: Var. 5 Wriggle 6 Gives the boot to

7 A drummer keeps it 8 “Cogito, ___ sum” 9 Brews whose flavor resembles pumpernickel 10 Tutti-___ 11 Actress Anderson 12 Hill helper 13 Walk heavily 21 Pitching a no-hitter, e.g. 22 You may hang a flower bowl on one 24 Be inclined 27 Welsh pooch 28 Fabric flaws 29 Expression that ought to relate to “for the birds” 30 Roulette bet 31 What a singer does best 32 Child’s bouncy gait 33 Fish in some melts 34 Weaver’s device 37 Lobster relatives 38 DEA bust unit 40 Writer Lebowitz 41 Testing venues 43 Exchanges 44 Becomes sunny

46 Fire remnant 47 Tie the knot quickly 48 Tightly packed 49 Makeup artist’s focus 50 Resting atop 51 One may enjoy studying 52 Piece of sand 53 Mystical glow 57 ___ chi Solution to yesterday’s puzzle:

Show BusinessMirror

www.businessmirror.com.ph

Duchess of Sussex calls 1st year of marriage difficult

By Danica Kirka The Associated Press

ONDON—The Duchess of Sussex says her first year of marriage to Britain’s Prince Harry has been difficult because of the pressure from Britain’s tabloid press. The former Meghan Markle told ITV in an interview broadcast Sunday that her British friends warned her not to marry the prince because of the intense media scrutiny that would follow in his country. But the US television star said she “naively” dismissed the warnings, because as an American she didn’t understand how the British press worked. “I never thought this would be easy but I thought it would be fair. And that is the part that is hard to reconcile,” she said. “But [I] just take each day as it comes.” The royal couple revealed their struggles with the media during the ITV documentary Harry & Meghan: An African Journey, which followed them on a recent tour of Southern Africa. Both said they had struggled with the spotlight, particularly because they say much of what is printed is untrue. The pressure was aggravated by the fact that the duchess was a newlywed, then pregnant and then a new mother. “Any woman, especially when they’re pregnant, you’re really vulnerable. And so that was made really challenging, and then when you have a newborn, you know?” she said, adding that it was a struggle. Later she added: “I would say thank you for asking, because not many people have asked if I’m OK, but it’s a very real thing to be going through behind the scenes.” The 35-year-old Harry did acknowledge there have been some differences between him and his older brother, 37-year-old Prince William, although he said most of what has been printed about a rift between the two has been “created out of nothing.” “Part of this role and part of this job and this family being under the pressure that it’s under, inevitably stuff happens,” he said. “But, look, we’re brothers. We’ll always be brothers. We’re certainly on different paths at the moment, but I will always be there for him, as I know he’ll always be there for me.” Harry has lashed out at the British media in the past for its treatment of Meghan, accusing the media of hounding her the way it did his mother, Princess Diana, who died in a 1997 car crash while trying to elude paparazzi. Harry insisted he didn’t want such history repeated. During the trip to Africa, Harry walked through the same minefield in Angola that his mother visited just before her death as she publicized efforts to clear thousands of mines left behind by the country’s 27year civil war. He told ITV that one of the most difficult parts of being constantly in the public eye is that every click of a shutter and flash from a camera is “the worst reminder” that his mother’s life ended so young, at only 36.

blind spot bruce c.

NO BOX-OFFICE DRAW

THIS recent movie was said to have earned megabucks but to many, that claim is dubious because the stars may be very popular but they certainly don’t have that much box-office power. It is true the movie made money—but it is not true that it made as much as the producers claimed it did. The final proof of this is in the ratings of the leading man’s TV show. The said show is doing so badly that it is another embarrassment for his home network, just like his previous series that flopped big time. The leading lady in the movie does have box-office draw, but it is not enough for one person to carry a movie. Overhyping projects and their box-office results only serve to damage the careers of actors in the long run.

HEARTBREAKER

THE female starlet is now officially known as a heartbreaker after she broke off with the actor rumored to be her boyfriend. The starlet also ended a budding relationship with her former reel partner for unknown reasons. This time, she told her actor boyfriend that she wanted to concentrate on her career. The sad part is that she is rumored to be seeing another actor who is married. She is exactly his type as she kind of resembles his wife. It is not clear at this point what his connection is to her wanting to improve her career.

ATTITUDE PROBLEM

THE teen star was dropped by his regular show and his showbiz benefactor reportedly because of attitude problems. The teen star was a promising comedian before all this happened. His benefactor was good to him and would give him jobs here and there. The benefactor is known for being generous, so this is not a surprise. The benefactor maybe saw the teen star as a potential success. But, alas, it was not meant to be. The teen star started acting like a diva and hanging out with the wrong crowd. He started partying and drinking. It was not long after that his benefactor and other people who were helping him began dropping him.

SHE WANTS ABS

THE star is already a mom to a mix of grown-up and teenage kids but she also wants to find love. That’s understandable. She and her family may be financially comfortable, but it can get lonely. The thing with the star is that she is not content with a man who is her age or older. She tells friends that she wants a boyfriend she can show off, preferably one with abs. So of course, she attracts opportunists and this causes conflicts between her and her kids, some of whom are old enough to realize the truth.

THE Duke and Duchess of Sussex attend the annual WellChild Awards in London on October 15. The WellChild Awards celebrate the inspiring qualities of some of the country’s seriously ill young people. AP

But he added, “I will not be bullied into playing a game that killed my mum.” At the close of their African tour, Harry and Meghan each brought separate legal actions against the media. The duchess earlier this month sued the Mail on Sunday tabloid, claiming it illegally published a letter she wrote to her father. Harry sued over the alleged illegal interception of voicemail messages by journalists from The Sun, the News of the World and the

‘Tarzan’ actor Ron Ely’s wife killed; son shot by deputies Daily Mirror newspapers. Harry, who has joined his brother in promoting a more open discussion of mental-health issues throughout society, described his own mental-health struggles as being a matter of “constant management.” “Part of this job, and part of any job, like everybody, is putting on a brave face and turning a cheek to a lot of the stuff,” he said. “But again, for me and again for my wife, of course, there is a lot of stuff that hurts, especially when the majority of it is untrue.” n

French conductor Michaël Cousteau, PPO pay tribute to Berlioz at the CCP TO commemorate the 150th anniversary of the death of French composer Hector Berlioz, the Cultural Center of the Philippines (CCP), the Embassy of France to the Philippines, with Stores Specialists Inc. present Berlioz and Friends on October 25 at the Tanghalang Nicanor Abelardo (CCP Main Theater) at 8 pm. Widely regarded as the inventor of the modern orchestra, Hector Berlioz gained a reputation as an innovative composer whose unconventional body of work and exuberance made him a hero of romanticism in France, alongside writer Victor Hugo and painter Georges Delacroix. He was a close contemporary of Franz Liszt, who transcribed Berlioz’s orchestral works for the piano, and Richard Wagner, who found inspiration in Berlioz’s works for his own compositions. As part of the 50th anniversary of the CCP and the 37th concert season 2019-2020 of the Philippine Philharmonic Orchestra, French conductor Michaël Cousteau will fly to Manila to take the baton for a one-time-only concert with the PPO, featuring soloist Rey Casey Concepcion on the viola. Michaël Cousteau has established himself internationally as a musician of unusual versatility, conducting operatic and symphonic repertoire ranging from the Baroque period to contemporary works. He is particularly known for developing innovative programs, having offered master classes and mentoring to young musicians in

Wednesday, October 23, 2019

France and abroad. In 2009, he conducted the PPO for a French musical program, featuring pianist Raul Sunico as soloist. He returned in 2012 to participate in an operatic program with several young talented Filipino singers. This tribute to the musical legacy of Hector Berlioz frames the French composer’s works in perspective with pieces by his friends and contemporaries through a program that includes Harold in Italy, op. 16 and Romeo and Juliet: Love Scene, as well as Wagner’s Tristan and Isolde: Prelude and Liebestod and Lizst’s Les Preludes. Berlioz and Friends is presented with the generous support of the Alliance Française de Manille, Air France and Don Papa Rum. While in Manila, Cousteau will also conduct a musical lecture on the life and works of Hector Berlioz, titled “Ma vie est un roman qui m’intéresse beaucoup” (“My Life is a Novel that Fascinates Me”) at the Alliance Française de Manille in Makati City on October 24, as part of “Les Jeudis culturels” (“Cultural Thursdays”). This event is free and open to the public. To register, send an e-mail to lesjeudisculturels@gmail.com. Tickets to the CCP concert are priced at P400, P500, P800, P1,200 and P1,500, and are available through the CCP Box Office at 8832-3704, or via Ticketworld at 8891-9999 or www.ticketworld.com.

Michaël Cousteau

SANTA BARBARA, California—Tarzan actor Ron Ely’s wife was stabbed to death in their California home by their 30-year-old son, who was then shot and killed by sheriff’s deputies, authorities said Wednesday. Deputies summoned to the home by a 911 call found Valerie Lundeen Ely, 62, dead with multiple stab wounds shortly after 8 pm, Tuesday, a Santa Barbara County sheriff’s statement said. The deputies talked to Ron Ely and identified his son, 30-year-old Cameron Ely, as the suspect, and found him outside the home in Hope Ranch, a suburb of luxury homes outside Santa Barbara, authorities said. Cameron Ely posed a threat to deputies, four of whom opened fire and killed him, the statement said. It did not say what he had done that was threatening. Ron Ely, 81, played the title character on the NBC series Tarzan, which ran from 1966 to 1968. He was host of the Miss America pageant in 1980 and 1981, and later married Valerie Ely, a former Miss Florida. The couple had three children. There was no report of Ron Ely being injured. Authorities confirmed he was at the home during the stabbing and the shooting, and an earlier sheriff’s statement said an elderly man in the home was taken to a hospital for evaluation. The home where the killings took place is one of two addresses listed in public records for Cameron Ely. It is not clear whether he had been living with his parents. The tall, muscle-bound actor Ron Ely was not quite as well-known as Johnny Weissmuller, the Olympic swimmer who played Tarzan, the character created by novelist Edgar Rice Burroughs, in movies in the 1930s and 1940s. But Ely formed the image of the shirtless, loincloth-wearing character remembered by many in the baby boomer generation. Ely said in interviews that he did his own stunts on the show, working directly and precariously with the tigers, chimps and other wild animals that were Tarzan’s friends and servants. Ely’s Tarzan didn’t speak in the monosyllabic grunts often associated with the character. He was instead an educated bachelor who had grown sick of civilization and had returned to African jungle where he was raised. Ely also played the title character in the 1975 action film Doc Savage: The Man of Bronze, but otherwise had mostly small roles in TV and films including the 1958 movie musical South Pacific. Ely retired from acting to focus on his family in 2001. But he returned briefly in 2014 in the TV movie Expecting Amish. AP

Image BusinessMirror

Wednesday, October 23, 2019

www.businessmirror.com.ph

Sneaky ways burnout hurts your bottom line BY AMRITA JAYAKUMAR NerdWallet MILLENNIALS are a burned-out bunch. Millennial workers are more likely than older generations to report being burned out at work, according to a 2018 Gallup study. The gig economy, the temptations of social media and the high expectations millennials have of themselves contribute to this trend, behavioral finance experts say. Add to that record student debt levels, the cost of health care, slow wage growth and little worklife balance, and you have a recipe for emotional exhaustion. “Millennials have this double whammy of anxiety coupled with a really strong work ethic,” says Kit Yarrow, a consumer psychologist and professor emerita at Golden Gate University. “Before they even get started, millennials approach their tasks in life with a [base] level of anxiety, which depletes their resources for managing stress.” This is not to say “adulting” is especially difficult for this generation, or to assume that all millennials are struggling. But understanding how burnout harms financial decision-making can help you or a loved one break through it and achieve goals. BURNOUT TRICKS THE MIND BURNOUT isn’t the same as stress. The World Health Organization, which added burnout to its handbook of recognized health conditions this year, says symptoms include “feelings of energy depletion or exhaustion; increased mental distance from one’s job, or feelings of negativism or cynicism related to one’s job; and reduced professional efficacy.” Burnout is linked to your job, but it can also affect your financial decisions outside of work in the following ways: ■ YOU PAY MORE FOR CONVENIENCE. You could be spending money regularly on takeout, Uber rides or grocery delivery, for example. People are often willing to pay more for convenience because they’re exhausted—from working multiple jobs, long hours or being available for work all the time—and because it makes mundane tasks easier, says Theresa Stevens, 26, a financial coach who works with millennials at Declutter Your Money in Providence, Rhode Island. ■ YOU SPLURGE AS A REWARD. “Treat yourself” isn’t just a hashtag; it can be a coping mechanism. When it comes to rewarding ourselves, “our mind tricks us into taking us off the hook,” Yarrow says. “You might think: I already have student loans and credit-card debt, and my rent is half my income so I might, as well, go out and eat, because what difference will it really make?” Stevens says. Social networks and the ease of online shopping make it harder to resist temptation, says Mariel Beasley, cofounder of the Common Cents Lab, a behavioral science research lab at Duke University that focuses on improving financial well-being for low- and middle-income households. “We see the food people are getting at fancy restaurants, the cute new shoes they bought or the places they’re traveling to,” Beasley says. “We’re seeing their spending; rarely do we see what they’re saving.” HOW TO BREAK THROUGH BURNOUT YOU can’t fix the economy or wish away debt. But by recognizing burnout, you can make things easier on yourself. Here’s how: ■ KNOW YOUR “WHY.” Your values motivate you when you’re paying off debt or saving money for a dream vacation. They can also help you prioritize what you’re willing to spend money on and cut back on. Values aren’t the same as goals. Paying off a credit card is a goal, but achieving financial freedom is a value, Stevens says. ■ BUDGET STRATEGICALLY. Budgeting isn’t about cutting out the small things that give you joy, like the occasional Uber or your latte habit. Taking a big step to save money—think moving into a cheaper living situation, refinancing your student loans or canceling subscriptions—is more sustainable in the long run than, say, resolving to eat out less, Beasley says. “Every day when you’re making a decision to spend less, it’s hard to keep going,” she says. “We naturally bounce back to our old habits.” After you’ve identified your values, a budget is a tool to help you live them. The 50/30/20 budget, which divides spending into needs, wants and savings, is a good place to start. ■ CHANNEL MONEY MOTIVATION: When you’re feeling motivated, take a one-time action that will save you effort, Beasley says. Set up a small transfer—perhaps 5 percent of your income—to a savings account so the money is out of sight, out of mind. Or cut up a credit card (but don’t close the account) to make it a little harder—but not impossible—to buy things you don’t value. AP

Sticking out like a sore thumb SUI GENERIS CARLO ATIENZA

biblisko@gmail.com

FIND comfort in wearing uniforms. One of the things I love about wearing a uniform is not having to think about what to wear because if I were left to my own devices, I would wear whatever was comfortable. For a decade, I was used to wearing a set of uniforms. It became a burden when I took on a job which allowed me to wear smart casual clothes, and I had to experiment for a while to know which ones I liked and felt comfortable in. Until now, I still have a tendency to be in uniform by wearing a certain color palette or going to a specific brand for clothes. And that is me. I like the predictability of it all. And people who know me would know which type of clothes I would go for and associate me with a particular look. Your clothes are just one aspect of your personal branding—what sets you apart from everybody else. Your personal branding plays a big role in how people perceive you, even before you talk. It is the impression you leave to people and how they talk about you when you are not around. While you may not be aware of it, you are constantly being evaluated by everybody you come in contact with, and your personal branding is how people remember you. That is why you need to take pains to ensure people see you in the best possible light so you can have a leg up in gaining favor from colleagues and supervisors. It became a struggle for me when I no longer had to wear a uniform because I then needed to choose carefully what kind of image I wanted to project. It became more important when I became a people manager because I had to change not only how I dressed up, but also how I interacted with my former colleagues whom I would now manage. It also became critical when I had to deal with other managers from other departments, and how I projected myself was a reflection of how my team would be perceived—my personal branding extends not only to myself, but to how others see my group. It became apparent that my personal brand goes beyond how I looked. Developing my personal brand means being mindful of my deliverables, and setting commitments and always delivering as promised. These go a long way in positioning yourself in terms of not just your professional development and enriching your career, but also building trust and authority in your expertise. Your personal brand, whether you like it or not, either sets you up for success or prevents you from achieving your career goals, which is why you need to work on it deliberately and purposively. Of course, your personal brand is who you are. In an era where personalization permeates every facet of our life, I would think it is easier to define what we actually want. But it is not. With all the choices available, it has become more difficult for some people to make up their minds about what to do with the plethora of choices and they end up choosing

Your personal branding begins with a scrutiny of your personal goals and values, and how to best communicate them to others through your actions and deportment while maintaining personal integrity and enriching other people’s lives. In the end, we will be remembered—and talked about—for how we made others feel. whichever is more convenient at the moment, rather than looking at how their choices affect their lifelong goals. This is why it is important to set personal and professional goals for yourself because they will help you filter which choices will support them. And it all begins with a clear understanding of who you are and what you want to achieve. After arriving at such an understanding, be consistent with your choices and goals. Some of my friends have made it their personal brand to be respected and feared by putting on a professional and business countenance whenever they are in the office, but are convivial and engaging when they are with friends. Clearly, they have made it their decision to separate their professional life from their personal. Some friends, on the other hand, have made is a point to be both formal in the company of coworkers or friends. Either way, it has to be clear to you and to the people you interact with how you deal with them. Consistency is the key in establishing a smooth working relationship with your coworkers and friends. Another big aspect of your personal branding is how you project yourself on social media. People have a tendency to post off-the-cuff-comments without really thinking about how the general public, or even their friends and relatives, will take their comments. Try googling yourself and survey the results because you just might be surprised what you see there. Your digital footprint will tell others your inclinations and thoughts on different issues which your supervisor, or even recruiters and hiring managers, will find insightful. Review your social-media entries or blog posts and see if they align with how you want to be perceived. If not, meticulously scrub out those posts which do not contribute to your personal brand. And in everything you do, always leave a positive impression on others. You cannot control what other people will say about you, nor can you make everyone like you, but you can always try to end a conversation or a meeting pleasantly. There are cases when you have to burn bridges, and when you do, it does not have to be in a fit of rage. If you cannot be positive, try to be as neutral as possible so no one can take it against you. You never know when you will encounter the person again, so it will serve you well to part amicably. A strong personal brand will sell you by word of mouth. One of the biggest compliments I have ever received was when I was mistaken for a manager

when I was not yet one. That, in itself, was validation of my effort to assist the manager apprentices, as well as how I carry myself when I talk to their managers. When I told the incident to my department manager, she said it was not only a validation for me, but also a validation of my section manager’s efforts in mentoring me, and the manner with which I dealt with the other departments and executives. It pays to understand that when you know your worth and you add value to others, they, in turn, add value to you. Your personal branding begins with a scrutiny of your personal goals and values, and how to best communicate them to others through your actions and deportment while maintaining personal integrity and enriching other people’s lives. In the end, we will be remembered—and talked about—for how we made others feel. ■

AXA PHILIPPINES, AIM JOIN FORCES FOR NEXT CUSTOMER INNOVATION

ONE of the country’s leading insurance companies, AXA Philippines recently signed an agreement with the Asian Institute of Management (AIM) to jointly hold the Innovation Fellowship Program, a groundbreaking platform that will enable “aspiring game changers” to develop solutions to real-world problems. The program is a new business course designed to pave the way for the development of innovative tools to help current and future customers of AXA Philippines feel more confident in achieving their financial and life goals. Through the Innovation Fellowship Program, AXA also aims to promote health, wellness, protection and financial literacy in the Philippines. The course is ongoing until November 18. Photo shows (from left) AXA Philippines Chief Customer Officer Amor Balagtas, Chief Human Resources Officer Jaspreet Kakar, Chief Transformation and Technology Officer Jay Sabido, President and CEO Rahul Hora, AIM President and Dean Jikyeong Kang, School of Executive Education Interim Head Carmen Testa, Associate Professor Richard Cruz and Professor Maria Eulalia Herrera.

BusinessMirror E1 | Wednesday, October 23, 2019 • Editor : Tet Andolong

Mark of zero gives Arthaland a global mileage in green building development

Building façade of ACPT

By Rizal Raoul S. Reyes

@brownindio

he mark of zero put Arthaland Century Pacific Tower (ACPT) as the first building development in the world to be granted EDGE Zero Carbon certification.

Crown Terrace of Arthaland Century Pacific Tower (ACPT)

By adding EDGE for Arthaland Century Pacific Tower, it places not only the company but also the country in the global stage. We are taking the initiative to address climate change. You don’t need to be the biggest developer and come from a developed country to take the cause. Someone has to contribute to address the issue,” Jaime C. González, vice chairman and president of Arthaland said in a recent press briefing held at the Bonifacio Global City. With the recognition tucked under its belt, ACPT is projected to achieve 45 percent in energy savings, 64 percent in water savings and 34 percent in embodied energy in materials. Moreover, It is the only triple-certified project in the Philippines to have received the Leadership in Energy and Environmental Design,(LEED) Platinum rating and the Building for Ecologically Responsive Design Excellence (BERDE) five-star certification in addition to the EDGE Zero Carbon certification, all of which are the highest and most prestigious categories in green building rating standards. EDGE, which stands for Ex-

cellence in Design for Greater Efficiencies is the green building certification system of the International Finance Corp., a membered of the World Bank Group. IFC is the largest global development finance institution focused on the private sector in emerging markets. According to IFC, “a project that reaches the EDGE standard of 20 percent less energy use, 20 percent less water use, and 20 percent less embodied energy in materials compared to a base case building can be independently certified w ith EDGE. EDGE is part of a holistic strategy to steer construction in rapidly urbanizing economies into a low-carbon path. It’s an example of IFC’s commitment to creating markets that are competitive, sustainable, inclusive and resilient.” The EDGE Zero Carbon award recognizes a building that is highly energy efficient (at least 40 percent energy savings compared to a base case building)and fully powered from on-site and/or off-site renewable-energy sources. ACPT, the mu lti-awarded cor porate office building, uses 100 per-

Business Center of ACPT

cent hydroelectric energy supplied by Kirsten’s Pantabangan Masiway Hydroelectric Plant in Nueva Ecija. By having an EDGE certification, Arthaland Executive Vice President Leonardo Po said ACPT would be using renewable energy

instead of the carbon emitting coal-based energy sources. First Gen, the largest source of clean energy in the Philippines will provide the energy requirements of the building. Furthermore, First Gen is also the only power-generating company of its size that

does not have coal power in its portfolio. ACPT’s use of higher thermal performance glass, reflective paint on the roof, efficient lighting fixtures with occupancy and daylight sensors, an energy recovery ventilation system and a Variable Refriger-

ant Volume (VRV) Cooling System contribute to huge energy savings for building users. “The EDGE certification will help us achieve a triple bottom line,” he explained. Po noted the company also purposely selected construction materials that have less embodied energy such as aluminum window frames, in-situ reinforced concrete slabs forth roof and floor slabs, medium weight hollow concrete blocks for the internal walls, curtain walling for the external walls, and stone tiles and finished concrete floor for the flooring. He added Arthaland also put water saving measures including the installation of water-efficient water closets, faucets and urinals. ACPT has also a gray water recycling system for the collection, treatment and reuse of water for irrigation and toilet flushing. Other systems include a condensate water recovery system and rainwater harvesting system. “We are honored to receive this award as it shines a light on our other office projects, Cebu Exchange and Savya Financial Center that are currently under construction. These office projects will adhere to the same sustainable standards and once completed will apply for EDGE certification,” said González. “ By ac h iev i ng EDGE Zero Carbon certification, we have once again raised green building development standards in the country and have kept true to our unwavering commitment of building boutique, sustainable and exceptional developments.” “This distinction is an exceptional achievement for Arthaland Corp. as it continues to sheathe way in developing a sustainable and green model for future office developments in the country and globally,” said Yuan Xu, IFC country manager for the Philippines. “IFC remains committed to supporting developers like Arthaland to help transform the way buildings are built in the Philippines through EDGE.” Po said putting up green buildings not only allows Arthaland to protect and preserve the environment but offers its tenants substantial savings from lower utility bills and enhanced working conditions. González added the benefit of going green will also be experienced by future tenants of Arthaland’s Savya Financial Center and Cebu Exchange.

Business

E2 Wednesday, October 23, 2019

Pitching projects, solutions, technology for ‘Livable Cities’

Amor Maclang

John Aguilar, serial entrepreneur creator and host of The Final Pitch

first dibs in real estate

s the head of public engagement of the Urban Land Institute (ULI), I have always been on the lookout for ways that we can effectively engage key stakeholders and come up with innovative and creative programs to elevate the real-estate sector in the country.

When I was tapped to become one of the mentors in The Final Pitch’s fifth season, which will be about real estate and livable cities—two things that I am personally passionate about, I didn’t hesitate. I would love to be able to engage and mentor young, creative minds to come up with innovative projects that will make a difference in the real world.

‘The Final Pitch’: Real Estate and Livable Cities

The Final Pitch is the country’s first and only business reality show, where entrepreneur contestants pitch their businesses to our esteemed panel of investorjudges who are looking to own a piece of their companies. In concept, the show is a cross between The Voice, The Apprentice and Shark Tank combined. The season begins with the initial pitch, where the entrepre-

neurs pitch their businesses to the investors for the first time, and the investors then select which entrepreneurs they would like to invite to the next round as official contestants of the show. The contestants are then introduced to mentors who help them in the different aspects of their businesses. The contestants are then invited to their respective potential investor’s headquarters, where they further discuss their businesses, and given a series of challenges that test their character and ability to deal with adversity. The season culminates with the final pitch, where the contestants pitch their businesses one last time, and the investors make their final offer. In its first four seasons, the show has successfully funded a good number of entrepreneurs with millions of dollars in total funding, and has changed the lives of these entrepreneurs who

now credit the show for their exponential growth and awareness as a direct result of their participation in the program. The entrepreneurs have come from as far as Silicon Valley in the United States, and from Luzon, Visayas and Mindanao in the Philippines. “As we are currently airing our 4th season, we are now preparing for the 5th season which now takes an interesting twist. For the first time ever, we will be producing a season with a theme. The Final Pitch Season 5: Real Estate and Livable Cities Edition will be the first season focused on real-estate projects, urban solutions, and property technologies that contribute to livable cities,” says John Aguilar, serial entrepreneur creator and host of The Final Pitch. Previous seasons of the show focused on various technology start-ups and SMEs pitching their businesses to investor-judges for funding. This time, real estaterelated deals and solutions for the property sector will be at the forefront. With the jitters created by the possible volatility of the demand from the POGO sector impacting the entire industry, there is now an even more urgent need to prepare for the eventual down-cycle of the property sector, and future-proof the business interests of devel-

opers and construction industry stakeholders. This can be done by either consolidating landholdings for the future, or even totally shifting business models to prepare for the seismic shifts that technological disruption will bring to the real-estate sector.

Real estate

At the core of any real-estate developer’s business are its assets. A property owner or owner’s representative or broker can pitch a property to the show’s investors. “Whether for sale or joint venture, we are looking for properties across the Philippines ranging from raw land, buildings, islands, even prime properties in the Metro,” John stresses. “Our foremost criteria for accepting these properties for consideration will be that the title is clean. We will not engage in a broker or broker’s representative who does not have exclusive rights to market or sell the properties they are proposing. Properties or projects with an existing prospectus or highest and best land use study are preferred, but not required. If the property is for sale, the selling price must be at least 20 percent below market value.” The properties must be free from any liens and encumbrances, and must be fully owned by the party pitching the property. These

properties will be pitched to the investors with the intention of selling the properties to them, or engaging in a possible joint venture project together. The terms of the deal may be flexible, but if the project is not interesting, the project might not even make it past the consideration stage. “Ultimately, we are looking for great deals for the investors for properties that can be land banked, renovated, or developed for the future,” John notes.

Livable cities

Aside from real-estate deals, the season will also feature start-ups who will pitch businesses that make for livable cities—green and sustainable building materials and technologies, clean energy, all the way to smart home and proptech (property technology) start-ups. Entrepreneurs who pitch their enterprise, service or invention must have at least a minimum viable product or prototype. Businesses that provide solutions that improve people’s quality of living, particularly those that address safety, hygiene, health care, the environment, recreation, public transport and access to goods and services will also be considered. John also reveals that they are currently finalizing the cast of investor-judges who will complete

their lineup. The investors will be a mix of property developers, businessmen, and corporate leaders keen on exploring new enterprises that can complement their businesses, integrate effectively into their value chain, allow them to diversify their portfolio, or enable them to create meaningful impact through financing or other strategic initiatives and interventions. “Interested investors may get in touch with us to explore their involvement in the show, whether on or off-camera. The final investors and partners will be announced during the official press conference, where they will also be given an opportunity to announce the deals they are looking for and are open to,” John announces. “The Final Pitch as a television show and as a business platform is our own contribution to nationbuilding,” John shares. “We are very pleased with the positive reception of the business and startup communities to it and how people have embraced it as a legitimate avenue to raise funding, as well as learn valuable insights on running a successful business, whether traditional or tech-enabled.” The Final Pitch Season 5 begins filming by late November 2019 and will air by March 2020 on CNN Philippines. To pitch your property, solution or start-up, log on to thefinalpitch.ph/application. Deadline for submission is on November 8, 2019. The Final Pitch airs Sundays at 8 p.m., with replays every Monday at 9:30 p.m. and Saturdays 1 p.m. on CNN Philippines. The show is produced by Streetpark Productions Inc.

Modern suburban living at the heart of Taytay

ith more than half of the country’s population residing in urban areas and urban population across the country expanding at a steady pace, the need for communities that provide modern urban conveniences without the stress of city life becomes even more apparent. MySpace, a progressive property developer of residential communities is one with Megawide, the country’s leading construction and infrastructure developer in engineering a first-world Philippines through a pioneer mixed-use development. Its maiden project, The Hive, is the first mid-rise condominium community in Taytay and is designed not only to raise the bar in suburban living but to allow mid-income Filipinos to have a place they can call their own. Gig i A lcantara, v ice president for sales and marketing of MySpace, said: “The Hive is a twoway ticket to the rural and urban life for the price of one. Like a beehive maintaining and sustaining the lives of bees, The Hive is a community providing beyondthe-basic amenities and generous

spaces with conventional unit cuts for an uncluttered lifestyle the residents deserve.”

A balanced lifestyle is the bee’s knees

MySpace started as a low-key development in 2009 with a boutique charm catering to the sophisticated taste of the East of Metro Manila residents. With The Hive, MySpace gives residents the opportunity to live comfortably, travel to work conveniently and spend time with loved ones spontaneously any time of the week. The live-work-play lifestyle that MySpace affords residents integrates a network of people, amenities and activities which is the answer to the increasing demand of city dwellers for a balanced life yet sacrifice it for easier access to transportation for work or business. MySpace helps address this demand for a balanced lifestyle by promoting the convergence of the city and the countryside, the fusion of provincial address and metropolitan convenience, and the blending of hassle-free transit and quiet nights with weekend

amenities and destinations all at arm’s length.

Dream, secure spaces for every lifestyle

The Hive is situated on a parcel of land with an area of about 2.1 hectares. It comprises four residential towers, three of which have 214 units each and the last having 336 units. The large unit cuts come with high-grade finishing and fittings—providing families with bigger living areas for greater comfort and privacy that suit any lifestyle. All towers are equipped with a reception and holding area where residents can receive guests, and spacious passengers and service elevators. Emergency power and CCTVs also ensure safe and worryfree nights for the residents. The parking areas are located at the lower ground of each building, allowing for more open spaces.

Buzzworthy weekends cap off a busy week

The Hive offers its residents uncompromised spaces with an overlooking central park, clubhouse,

swimming pools and a jogging path fronted with a Walter Mart commercial complex. Savor the live-work-play lifestyle and seize family time every weekend. Let the kids swim in the kiddie pool, and the ates and kuyas in the lap pool while moms relax under the sun admiring premier landscaping and dads flex their biceps at the gym at The Hive’s clubhouse. The play field is designed to inspire residents to live a more active lifestyle while an events area can be used for family and other gatherings.

A beeline to the city

Experience a hassle-free day every day when commuting to school, running errands, shopping for leisure or simply savoring quiet time with The Hive’s strategic location along Ortigas Avenue Extension at Barangay San Isidro, Taytay, Rizal. Universities, business centers, malls, hospitals and churches are all within a 2-kilometer radius. The Hive can be reached from Metro Manila best by C-6 Road from Muntinlupa and Taguig on

the south, Quezon Avenue from Angono on the west and Ortigas Avenue from Pasig City on the east.

One with Megawide

MySpace gives innovative and forward-looking family starters, entrepreneurs and empty nesters

the power to choose a lifestyle that fits their needs without any compromise. With the same energy and passion, MySpace and Megawide will strive to maintain the promise of a nurturing and sustaining community at The Hive.

sMirror

Editor: Tet Andolong

Lio Beach: a model of inclusive growth in tourism

ore than being a showcase of world-class hospitality and environmentally sustainable destination, Lio Beach in El Nido, Palawan, works with the local stakeholders and community partners in developing the estate as a model for inclusive growth in tourism, according to its planners. AyalaLand, owner of the estate through wholly-owned subsidiary Ten Knots Philippines Inc., “realizes the significance of building a strong relationship with the local community,” says Javi Hernandez, Ten Knots president. “As Lio Beach grows, we also hope to see the local community growing with us by providing supplies and services for visitors, locators and residents.” The upward trajectory of tourist arrivals and emerging businesses in Lio Beach paves the way for greater employment potential and sustainable livelihood opportunities for the community. “Currently, around 300 locals have been employed to operate the five resorts within Lio Beach and the estate,” according to Hernandez. He estimates that as many as 3,000 jobs will be generated and sourced locally from Lio’s construction and operations upon full build-out, not to mention indirect benefits brought to the local economy. In line with the socio-development objectives, Ten Knots and Ayala Foundation have embarked on a five-year proj-

ect to foster inclusive growth by linking programs to develop local workers and entrepreneurs to the supply chain of Lio Beach, not just for its hotels, but also for retailers and locators. The rice served in the hotels and resorts, for instance, is bought solely from farmers from Narra, Palawan, through the Corporate Rice Program in partnership with the Department of Agriculture. Due to its success, the Corporate Vegetable Program was created to assist 25 local farmers to provide different types of vegetables and, eventually, even livestock and more seafood. Since the onset of the program in October 2018, an estimated total of P1.1 million worth of vegetables have been sourced from the farmers, adding to the estimated annual seafood purchase of P20 million from other local suppliers. To add to that, small and medium enterprises run by women’s cooperatives and other locals are given the opportunity to sell their products through the Taboan Public Market. One such example is the Juana Bayong brand featuring woven

products by the Sibaltan Women Weavers Association Inc. They have also been given retail space in the market and at the Lio Airport Terminal. With education playing a huge role in inclusive growth, selected primary levels in 14 pilot schools in El Nido have, likewise, been provided with learning tablets through the partnership with ProFuturo. An additional 10 schools in El Nido, plus 11 schools in Taytay will be given the same within the year. Teachers are given regular trainings and coaching sessions, thus making learning more visual and relevant with the digital age. To further aid in the success of the K to 12 program, graduates are given the opportunity to go through on-the-job trainings. More than

Oakridge inks partnership with KMC Savills

ANDAUE CITY, Cebu—Oakridge Realty Development Corp. (ORDC) has tapped KMC Savills as one of its full-service real-estate partners for their new office developments. Oakridge Director for Sales and Operations Anne Madelaine K. Liu officially inked the partnership with KMC Savills Executive Director for Investor Services Jose Carmelo Porciuncula, and Landlord Representation Associate Director Christopher Ting in a signing ceremony at the Oakridge Executive Club. “Oakridge has chosen KMC Savills as one of its leasing partners because the company is optimistic that the latter’s expertise in tenant representation will help bring in key locators to the park,” Liu said about the partnership. She added that Oakridge Business Park

provides workspaces that promote productivity while housing an environment that inspires its tenants and their employees. “Through KMC Savills’s energetic team, we are confident that they can bring in tenants who share the same vision of Oakridge, of providing exceptional customer service in a safe and secure environment, one that is distinctly Oakridge,” Liu said. Porciuncula expressed optimism in the partnership. “We are excited to be part of the growth plans of one of the pioneering real-estate developers in Cebu,” he said. “KMC Savills has big plans for Oakridge, not only in terms of leasing but also in helping promote their unique brand as a strategic developer in Cebu,” Porciuncula added.

Oakridge Realty Development Corp. Marcomm Manager Malou Mozo (from left), ORDC Leasing Manager Gracyl Marie N. Parilla, ORDC Director for Sales and Operations Anne Madelaine K. Liu, KMC Savills Executive Director for Investor Services Jose Carmelo Porciuncula, KMC Savills Associate Director for Landlord Representation Services Christopher Ting, KMC Savills Landlord Representation Associate Lorenzo Martin Rodriguez

Oakridge recently launched its Oakridge IT Center 3, a 12-story Grade A office building located inside Oakridge Business Park. This new development adds another 14,000 square meters of leasable space to Oakridge Business Park’s inventory. With its modern design that mixes functionality with sophistication, the Oakridge IT Center 3 allows progressive businesses to thrive in an environment that values a dynamic balance between work and family. The property is equipped with high ceiling and wide-open spaces while decked with top-of-theline fixtures, amenities and technological systems, as well as a three-level podium parking. It is poised to be a Peza-accredited building that will cater to both international and local business owners. Oakridge Business Park is a distinct address that seamlessly merges business and lifestyle, located along AS Fortuna Street, Banilad, Mandaue City. Oakridge had earned the 2018 Destination of the Year title during the Gawad Linaw Awards of the Mandaue Chamber of Commerce and Industry (MCCI). The masterfully planned business park is a sanctuary within the city that offers diverse dining, retail, and lifestyle choices, as well as personalized business opportunities and event celebrations, all set in its refreshing green and open spaces that is distinctly Oakridge. It is home to two large-scale event venues—the Oakridge Pavilion and the Oakridge Horizons—as well as the Oakridge Executive Club, Cebu’s first prestigious business lounge that provides a venue for executives to conduct their meetings in “comfort, convenience and class” without having to leave the business park.

Eton Properties opens eWestMall in Makati

ucio Tan-owned Eton Properties Philippines continues to intensify its retail portfolio with the opening of eWestMall, the newest boutique mall within the nano-township Eton WestEnd Square in Makati City. The commercial development has two floors of retail spaces with a total leasable area of approximately 3,750 square meters. Located at the corners of Chino Roces, Yakal, and Malugay Streets, there is easy access to buses, taxi cabs, shuttle vans, jeepneys and even tricycles just outside the gates. eWestMall is intended to serve the immediate needs of the residential and office market within the West Makati area. At present, dining and functional service establishments already opened its doors to the public, such as Muhan Samgyupsal, Black Scoop Café, The Black Bean, Anytime Fitness, Nails.Glow and PNB. Also slated for opening in the coming months are Eight Cuisine Restaurant, Maxwell Food Store, Lawson, Holie Brow & Lashes, Teatree Spa, David’s Salon, Fashion Smile Dental, Hey Internet Café, LBC and Panda Cleaners Laundry. Visitors can expect more variety in service and dining choices in the coming months as

the mall gears up for its grand opening. Apart from the mall, eWestPod, the office component of Eton WestEnd Square also opened with all four stories of office space fully leased out. While Blakes Tower, the 36-story office and residential building

within the nano-township was topped off earlier this year. Eton WestEnd Square has over 23,800 square meters of combined retail and office leasable space, and over 13,900 square meters of residential leasable space. For leasing inquiries, please call (02) 8548-4055.

150 students have successfully completed the program so far, with opportunities for absorption given. The growth of the local community alongside that of the estate will also be fostered by facilities not only for tourists, but also for employees, entrepreneurs and local residents. These include a church, public market, transport terminal, school and affordable housing facilities to be built in the near future. Mabel Reyes, Lio Beach project development head points out, “We want to create a balance between facilities for the tourists and facilities for local residents. These are needed to create a healthy community. We fully realize that we need to keep attracting tourists, as well as residents for

sustained growth.” Among real-estate developers in the Philippines, AyalaLand has the experience and know-how to create successful estates throughout the country, with the Makati Central Business District, Bonifacio Global City, and Nuvali as prime examples. Lio Beach is AyalaLand’s first venture into tourism estate. In 2014, Ten Knots began development of the 325-hectare Lio Tourism Estate, now more popularly known as Lio Beach, with the establishment of hotel accommodations and Shops@Lio. To secure ease of access, Ten Knots also prioritized the construction of the Lio Pier and the Lio Airport Terminal, with AirSWIFT providing direct flights from Manila, Clark, Cebu, Boracay, Puerto Princesa, Bohol and Busuanga to El Nido. In 2018, AirSWIFT successfully transported 150,000 visitors to El Nido and is on track to meeting their target of flying in 200,000 passengers this year. The enhancement of the airport and additional flights do not only benefit the properties of Ten Knots, but provides direct flights for Palaweños and tourists staying in other resorts, as well. “We are adding more nature-based activities and increasing visibility in town to actively highlight inclusive growth, and to entice more locals and tourists alike to make Lio Beach a part of their itinerary. Lio Beach is your place for rest, experience and discovery,” says Reyes. AyalaLand and Ten Knots continue to deliver on its promise of social development and inclusive growth in its sustainable tourism estate model that benefits local communities and Palawan as a whole.

COMMUNITY

John Paul Velasco (from left), marketing manager for Public, REX Book Store Inc.; Dexter Ngo, general manager for K to 12, REX Book Store Inc.; Benigno C. Balgos, Disaster, Humanitarian Action, Urban Studies, Public Policy, and Community Resilience specialist; Roberto Padillo, Training Specialist of the Office of Civil Defense-Central Office; Jeanne Marie Tordesillas, chief marketing officer, REX Book Store Inc.; and Randy Torrecampo, senior marketing manager, REX Book Store Inc.

REX partners with NDRRMC

here are a lot of socially relevant issues that we are facing right now and two of the most pressing matters are climate change and illegal drug use. While they are primarily things that adults think about, it is never too early to get young minds to be more aware of the different aspects that contribute to these problems and what they can do to help solve these issues. REX Book Store (www.rexestore.com) has partnered with the National Disaster Risk Reduction Management Council and the Dangerous Drugs Board (DDB) to come up with IEC materials that will address these two pressing issues that are important to Filipinos right now. This is part of REX Book Store’s commitment to not just generate awareness about matters like this but to also create an avenue for children to learn and become socially conscious citizens. The Whole Child approach that REX takes is to ensure that children are healthy, engaged, safe, supported and challenged. Various studies have already shown that the Philippines is one of the most disaster prone countries in the world and so it is doubly important that children learn about the causes and impact of climate change, and what it is that we can do to help mitigate the effects of this on our country and the world in general. The IEC materials were developed with the NDRRMC and other experts in the field, including Benigno Balgos, a specialist from the Ateneo de Manila University. He believes that while it is important to have all this knowledge available, what is even more important is to put them into practice. He believes these materials are instrumental in training teachers about climate change and how we can help the Earth and they, in turn, will pass on the knowledge to their students. According to Michael Sy, a health professional educator and occupational therapist, the IEC materials are

innovative but also scientific and evidence based, which goes hand in hand with the experiential and practical aspects that are also needed to further the children’s education when it comes to both climate change and illegal drug use. When it comes to the products developed with the DDB and other experts in the field, it is the first time that the DepEd will have IEC materials that give an overview on commonly abused drugs and substances, drug abuse and prevention strategies, and also encourage the students’ and the schools’ participation in the advocacy campaigns initiated by the government. Emma Pastorside, the Health Education and Promotions Officer of the DDB, teachers and students will be able to find these materials useful as we continue to raise awareness about the dangerous effects these illegal drugs and substances will have on the families and communities where they belong. It will also bring them on a voyage of self-discovery as they learn how to detect, avoid and maybe even come up with solutions to this ongoing social issue. John Paul Velasco, the marketing manager of REX Book Store says that the challenge they faced when developing these IEC materials is how to articulate all these fact-based information in a way that will be understood and appreciated by both the teachers and the students. Fortunately, through this partnership with the NDRRMC, the DDB, and DepEd, they were able to create these materials that will educate and engage the Filipino learners so that it will also create transformative dialogues between the government and the civilians. This is REX Book Store’s vision not just in creating these materials on climate change and illegal drug abuse but in all aspects of their publication and distribution business—to be part of every Filipino home.

Entrepreneur BusinessMirror

E4 Wednesday, October 23, 2019 • Editor: Vittorio V. Vitug

Entrepreneur never says die, relaunches leather business

TLCI origins

ACCORDING to Sevilla, InstaPrint initial operations focused on designing menus, annual reports, travelogues and the like. Then they began designing paper products that were produced and distributed by The Bookmark Inc. Regardless of the production quantity, each product was branded, e.g., “Niji and Fedrigoni” stationery products, “Yellow Board” write-on wipe-off boards; and “The Landmark” map. According to Sevilla, her husband, a graphic artist, considered his masterpiece, the Triax-brand planner-organizer that Bookmark’s Jose

Ma. Lorenzo P. Tan convinced the late Mike Hamlin of the Asian Institute of Management (AIM) to endorse. “We were also allowed to rebrand the organizer ‘The Asian Manager,’ and it was formally launched at an AIM Alumni Association Meeting hosted by Stan Shih in Taipei,” she said. “These planner-organizers required leather covers, which we sourced from both local and overseas suppliers.” Later, a German craftsman from Goldpfeil (Ludwig Krumm AG), offered to supply the Sevillas with leather binders. “We told him and his Filipino wife that we weren’t looking for suppliers; we wanted to manufacture these ourselves,” Sevilla said. “Why so? We wanted to ensure quality.” Thus, they formed a five-man unit in InstaPrint to make these binders. “[The] AIM naturally became our first bulk institutional customer. We sensed the opportunity to shift from selling to consumers [B2C, or business-to-consumer] to institutional selling [B2B, or businessto-business] and created our first leather collection, a five-piece set of executive accessories: briefcase, meeting folder, organizer, pen case, card case,” Sevilla said. “What to brand this new line? ‘The Leather Collection.’”

Confronting challenges

THE Sevillas launched the The Leather Collection in World Exco’s “Corporate Giveaways Show,” positioning brand as custom-designed, madeto-order business bags and accessories for corporate gift-giving and accessorizing. That was 28 years ago. “Throughout the years, we have been faced with more challenges than can be imagined,” Sevilla said. First was the 1997 Asian financial crisis when, she said, the landed cost of leather they imported from Italy practically doubled due to the devalu-

By Roderick L. Abad

keeping them in our payroll based on their tenure.”

Relaunching TLCI

‘Never say die’

SEVILLA

ation of the peso. Sevilla also cited what they call “the China syndrome” when there was an influx of cheap leather goods from China that, according to her, almost wiped out their market. She also cited the US recession in 2008 and the European sovereign debt crisis that “effectively wiped out our growing export market.” Sevilla also noted that Typhoon Ondoy that effectively halved their peak season sales the year it struck. “When the Asian [financial] crisis struck, financially savvy directors suggested that we downsize. We chose not to, because we had retained earnings, which our ‘kabalikat sa hanap-buhay’ [as we refer to our] employees had made a contribution to,” she said. “And we believed it unjust to separate some of them while there were still savings to tide us over.” Nonetheless, Sevilla said they were forced to rightsize, or fold up, after a series of setbacks. “Together with our management team, which included master craftsmen, we made the decision not to file for exemption from giving separation pay, but instead decided the just thing to do was to give separation pay, even if we could not afford it at the time,” she said. “We paid this out in semi-monthly installment; in effect,

SEVILLA has three methods she believes allowed her to overcome the challenges to their business: “daily self-examination; remaining contemplative in action, and remembering I do not own the business in the true sense of the word, but am merely its steward.” She said an entrepreneur “must respond with courage and integrity” to “the roller-coaster ride over which the entrepreneur has no control.” Sevilla added that an entrepreneur must also address sustainability and adapt to changes in the marketplace. “Building a work community of magkabalikat sa hanap-buhay [life entreprise], practicing Catholic values in a hostile environment, walking my talk and giving voice to values,” Sevilla said also allowed her to recover from the challenges she faced. These, according to her, gave her the confidence to relaunch TLCI “as a branded corporate gift, ‘World Class, Gawang Pinoy’ [Filipino-made] and as a private label own-design manufacturer [and] helping start-ups launch their brands mainly online.”

@rodrik_28

Contributor

SEVILLA said TLCI would also target the millennial and Gen Z markets. Sevilla considers dealing with millennials as far from difficult. “They’re not difficult. They’re different from baby boomers, yuppies, etc. They’re the product of the conditions of their times,” she said, recommending older entrepreneurs like her to “be an anthropologist.” “Immerse in their culture. Be a ‘lolalennial’ or a ‘lololennial’ as the case may be.” Sevilla added they also incorporated marginalized women’s communities into the TLCI’s value chain. One of them is the Sibaltan Women Weavers Association who are artisanal weavers of banig (matting) and bayong (woven tote bag), which Sevilla said is now handcraft woven leather components for their woven leather collection. Another is the Tribal Women Weavers Association composed of Bagobo women weavers of abaca fiber who now weave indigenous textile for TLCI’s “Great Women” collection.

aria Yolanda C. Sevilla, cofounder of The Leather Collection Inc. (TLCI), is an entrepreneur by heart. “I married a serial entrepreneur, so it was quite natural to set up our first enterprise when we were married in 1981, 38 years ago,” Sevilla said. That first enterprise was a quick-print shop, an alternative to mimeographing—“Does anyone remember that still?” she mused. It was a microenterprise, a single proprietorship in the name of her husband, Federico S. Sevilla Jr., called InstaPrint Enterprises. Like most start-ups, their major challenge that time was capital. Sevilla said their cash on hand that time was only P17,000. “[Our] suppliers came to the rescue,” she said. “We were allowed to use a small offset machine [on a] pay-when-able [term]. We negotiated credit terms for supplies.” InstaPrint’s shop occupied her brother-in-law’s backyard. Sevilla said the fee she received as a direct marketing consultant at the time helped fund payroll and other operating expenses. “In a couple of years, InstaPrint morphed into FSS Creative Art Techniques, a creative boutique offering not only design services, but also color separation services, another service that is no longer needed in this digital age.”

Sprout Solutions raises $6 million in Series A round

Millennials, Gen Z

By Dennis D. Estopace | Senior Editor

www.businessmirror.com.ph

SEVILLA said there are several lessons she culled from her experience as an entrepreneur. One is “that it’s all about hanapbuhay [employment] and the search for life in its fullness, for meaning and fulfillment.” “What’s critical is to form a work community willing to go through the good times and bad times together,” Sevilla said adding it was also important to avoid complacency—“Hindi puwede ang puwede na”—and having a “Never say die” attitude. Sevilla also shared lessons on brand building and marketing for young entrepreneurs. “Building a strong brand begins with knowing oneself: What does one believe in? What’s one’s personal vision, mission [and] objective?” she said. “The enterprise is an outward manifestation of the entrepreneur’s personal values and beliefs.” She also advises young entrepreneurs to “target the market you know: the market with similar demographics as your own and that of your circles of influence.”

ECHNOLOGY start-up Sprout Solutions has closed its Series A financing, raising approximately $6-million fresh capital to bankroll its operating expenses and expansion plan. “We are expanding throughout the provinces, whereas previously we’ve been focused on Metro Manila,” Sprout Solutions Chief Executive Officer (CEO) and Founder Patrick Gentry told reporters in a media briefing at the Bonifacio Global City, Taguig. “The other [plan] is building products and services that are needed specifically here in the Philippines.” The investors for the homegrown company’s second round of funding completed last September 26, including Point72 Ventures, Dymon Asia, Next Billion Ventures (NBV) and Endeavor Catalyst. Existing investors, such as local firm Kickstart Ventures, and Singapore-based firms Beenext and Wavemaker Partners, took part again after participating in Sprout’s late 2017 seed round that raised $1.6 million. Sprout Solutions is a software company that seeks to help companies in the Philippines grow through its suite of back-end solutions that address human resource (HR), payroll and recruitment difficulties. The software-as-a-service (SaaS) provider has introduced end-to-end processing and seamless automation across HR and payroll processes, including employee 201 file management, attendance tracking and management, and compliance with government regulations, including automating 21 different payroll-related government forms. To date, Sprout has served around 300 Philippine-based businesses, mostly midsized enterprises. It caters to verticals, such as businessprocess outsourcing, food and beverage, hospitality, manufacturing, and government. Around 75,000 employees of Sprout’s clients currently use its system. The firm targets to reach one million users for its software by the end of 2023. Location-wise, it seeks to expand in Davao and Clark early next year, while broadening its existing presence in Cebu. With Sprout’s latest capital raising activity, tech start-ups in the country are now gaining ground in the investment market, according to the company’s CEO and founder. “It’s a major signal that the Philippines is a rising star on the investment landscape,” he said.

PSC bares strategic management team behind 7-Eleven’s franchise success in Luzon

hat do successful businesses have in common? While a great amount is attributed to the efficiency of the business model and monetary investment, no business or company can truly prosper without a core team of talented and dedicated managers as supportive “teammates.” For industry-leading enterprise Philippine Seven Corp. (PSC), it attributes 7-Eleven’s flourishing franchise business success to its strategic stewards—the high-level managers behind the store opening, expansion and franchise operations. Commendable for their knowledge and experience, Business Development Division’s (BDD) unit manager and section managers maintain a strong focus to deliver critical company objectives in the service of all stakeholders—from franchisees, corporate partners, to the ultimate consumers of 7-Eleven. According to PSC Business Development Division head Ulysses Borral, trustworthy managers are vital to running an effective and profitable franchise or enterprise. Besides overseeing operations, a manager’s professional contribution to the business and organization helps ensure that both the franchisor’s and franchisees’ business plans, operations and growth goals are mutually aligned, implemented and achieved. “As a forward-thinking company, PSC’s leadership, corporate culture and innovation in the industry relentlessly motivate everyone to strive for the best. This commitment to pursue excellence for our employees helps us maintain our undisputed edge over competitors, creating an organization that is focused on only doing what is best for all stakeholders and for the

achievement of both near and long-term success of the company,” said Borral.

Growing together

Beyond improving branding, Lee Gonzalo Perez, Franchise Marketing, Lease Management and Special Projects section manager, is tasked to oversee and lead the franchise expansion team in promoting the 7-Eleven franchise brand, as well as recruitment and awarding of qualified applicants to the system. For him, a manager’s crucial role involves making “balanced” assessments. “We represent BDD’s interest and efforts for PSC, and act as spokesperson for both sides of the divide—the shareholders and the employees. We are tasked to look after both the interests of the PSC and the people who work in them,” he said. Perez’s leadership style is mentorship, which he said is more relationship-based, rather than performance-based.“I share personal experiences, insights and knowledge with the staff to aid them in achieving their goal. I don’t zero in on a specific skill and action to improve them—it’s more about overall development,” Perez added.

Strong, strategic leadership

Janice Castillones has been with PSC since 2005. Initially a site acquisition specialist, she eventually made her way up to managerial level after she exceeded management’s expectations on her performance and deliverables. Together with her four supervisors, Castillones is currently handling the Metro Manila areas since the start of this year. Aware of the new challenge to transact with Metro Manila lessors, Castillones is described to be confidently up and ready for

The team behind the success of 7-Eleven franchise in Luzon headed by Business Development Division Unit Head Ulysses Borral (third from left) with section managers (from left) Ellen Amancio, Edgar Gabriel, Lee Perez, Francis Joseph Gonzales and Janice Castillones. the tasks ahead. Prior to this assignment, Castillones is credited for pioneering the North Luzon expansion, specifically in Nueva Vizcaya province which started last year. To date, there are more than 15 stores serving Isabela and Nueva Vizcaya. Ellen Amancio, meanwhile, is credited for the historic openings of two 7-Eleven stores in Mindoro located in Sabang and Calapan. Described by colleagues as “very hands-on to her job,” Amancio is always out and about to evaluate sites presented to her by her supervisors. Currently, she is handling the north areas and has been progressing in getting to know new sites and new lessors in the North. Francis Joseph Gonzales, who joined PSC as BDD Design and Construction manager in 2017,

meanwhile, take on the lead in store construction process (from design phase to construction phase). “My team supports the franchisee’s goals by completing store construction and opening the store as soon as possible. Teamwork is essential; each one has a part to play in the completion of every project. As a manager, I believe that maintaining a healthy working environment and promoting camaraderie among team members are part of a true leader’s responsibilities,” stressed Gonzales.

Dedicated, driven

Edgar Gabriel started working for PSC from 2002 to 2007 as plannning manager of Business Development Division. He was also given positions under Store Development Acquisitions.

Currently, he handles the South provinces wherein he oversees and lead site/province expansion team in terms of questing for new sites that is feasible for a 7-Eleven store in the South. Some of his key contributions to PSC is pioneering the successful expansion of 7-Eleven in Panay and Mindanao. “As a section manager handling expansions of 7-Eleven, I am tasked to make sure that the locations that we will get for a store, would be profitable. With that, it is very important for a section manager like me to be data driven. We can only acquire good sites out of facts that our people gather. We have to learn how to segregate data, what is beneficial and what is not,” he explained. For a manager to be truly effective, he or she needs to espouse strong leadership and strategic management skills to be able to genuinely engage stakeholders from both inside and out of the organization. By having a dependable team of managers in place, 7-Eleven has cemented its top position in the C-store category. To date, 7-Eleven’s network is spread across 52 provinces in the country, now with more than 2,500 outlets, 46 percent of which are company-operated and 54 percent franchise-owned. “Having a great team of managers that understands and cares about the company and its stakeholders as much as the owner do, and proudly embodies PSC’s brand of corporate culture indeed create a huge difference. They have helped led the PSC to many milestones and optimized investment potentials for the 7-Eleven brand, as well as opened up income-generating opportunities for Filipino entrepreneurs,” Borral concluded.