Q3 2016 THE IMMIGRANT NEWSPAPER by THE IMMIGRANT NEWSPAPER

Bohol 360 p.6

Jul-Sep

Aussie-Swiss domination p.10

2016 On bank deposit secrecy and the Foreign Currency Deposit Act p.4

Hospitality milestone p.8

Traffic woes and infrastructure

Vol. 5 No.16 Q3 2016 Philippine Edition ISSN No.

www.theimmigrant.com.ph

Terence A. Hockenhull makes the case for better infrastructure and government policy to ease Metro Manila traffic that is spiraling out of control Turn to page 2

news bytes US Citizens’ Absentee Voting Week starts September 22

Photo from IROOM STOCK/Shutterstock.com

According to data from the Department of Transportation, the Philippines had about 7.7 million registered vehicles as of 2013. About 1.8 million vehicles were classified as utility vehicles, and about 70,000 of them were jeepneys, as pictured, plying routes within the National Capital Region.

Traffic woes...

major cities, a useable rail network, new container and general cargo ports, rehabilitation of existing airports, and From page 1 the construction of new airports. Certainly, my ideas are no more original than anyone t seems to me that nowadays, the two most favored else’s. What I do know is for a public transportation topics of discussion are the state of the nation and the state of traffic. The first, by all accounts, is not too bad; system to be effective, it must service the maximum number of passengers, offer reasonable levels of comfort, the second seems to worsen by the day. The question fit within the financial capability of commuters, and move on everyone’s lips is what is being done to address the riders from point to point. When this entails switching issue. Rapid building of new roads, alternate transportation between transport modes, hubs must allow this to happen systems, higher taxes on fuel, a quota system for new car seamlessly. Further consideration will have to be given licenses? All of these may be viable to some extent, and it’s my guess that we will see all of these implemented in the not to moving private vehicles and commercial traffic out of express commuter lanes. And if private car owners are to too distant future. be enticed away from using their cars, adequate and safe But let’s look at the root cause of the problem. The parking at hubs must be provided. Philippines continues to be one of the fastest-growing None of this is provided at the moment. Perhaps economies in Southeast Asia. An average Gross Domestic this is one reason why car ownership is increasing. Product (GDP) growth of 6.3% since the start of the Aquino Higher levels of affluence among the middle class has administration is impressive, but government must invest in certainly impacted on car purchases. So too has the ready infrastructure spending and development if it is to support availability of financing. It will certainly lead to grave and sustain this rapid growth. There appears little doubt dissatisfaction if sanctions are imposed on car owners that the poor state of roads, ports, airports, mass transit, air quality, water, and energy owes much to a lack of investment without a viable alternative. Traffic studies show that many of our roads in the and poor governance. metropolis are operating at capacity, resulting in gridlocks Definitely a chicken and egg situation! A lack of and severely increased travel times. A recent study by infrastructure will impact on investment and growth, yet the Japan International Cooperation Agency (JICA) cites sturdy growth and an investment-friendly economy are both average speeds on major roads at 10 requirements to fund infrastructure. As I was driving to the office a Many Filipinos have kilometers per hour (kph) during peak traffic times. Consider for a moment couple of days ago, crawling along no alternative to that the distance from Makati City to the Skyway parking lot, it occurred public transport. Balintawak along EDSA is 17 km; to me that in the last 12 months both my wife and I have new cars. My Most are unclean and that’s an hour and 45 minutes on the The same JICA study indicates daughter, who has just started driving, unsafe, and – because road! the economic cost of congestion in now has her mum’s old car. All my of traffic – commute Metro Manila at nearly US$55 million friends’ children drive to school. Many of my friends have more than times are often well in per day, and a further US$22 million resulting from congestion in Bulacan, one car to make up for coding days. excess of 2 hours! Rizal, Laguna and Cavite. Clearly, this The sad fact is that 95% of the time, is a problem that needs to be addressed. both my wife and I drive without A further consideration has to be trade and commerce. anyone else in the car (at least my daughter carpools). I have Truck bans in various guises throughout recent years long since passed the time when driving was a pleasure. have had significant impact on transportation costs and Honestly, I would dearly love to commute to the office efficiency of moving goods, not only through the city but if I could do so in comfort, or alternatively, in relative also between ports, industrial estates, and manufacturing discomfort but at very high speed. Sadly, there are no sites. Limited hours of operation forces forwarders to realistic alternatives to car ownership unless one is to brave increase the number of vehicles they operate. This, in public transport, which is neither pleasant nor reliable. turn, leads to inefficiencies, way more trucks on the road Many Filipinos have no alternative to public transport. during window hours, and of course costs ultimately Most are unclean and unsafe, and – because of traffic – passed on to consumers. commute times are often well in excess of 2 hours! Even Before arriving at the final point, I feel it is only fair the ubiquitous UV Express vans are so packed, that it cannot to comment on the appalling lack of discipline on the be a relaxing or pleasant ride. roads. Everything already mentioned is true; our roads My office is in Makati. Last week, I had an appointment are congested. Notwithstanding these conditions, the in Quezon City and decided rather than driving up EDSA behavior of drivers (many of them professional drivers through horrendous traffic, I would walk to the MRT station too) who readily force their way into oncoming traffic, and ride a train. The queue to purchase the ticket was offload and pick-up passengers anywhere they like, horribly long. Things were not much better on the station disregard traffic signs and signals, and generally act with platform, and indescribably unpleasant in the train. Being crushed by sweaty bodies was not my idea of a pleasant way a degree of selfishness that shows no consideration to other road users, is staggering! Disciplined drivers, wellto travel. No escalator or elevator appeared to be working policed streets and a planned management of traffic flow at my destination station. Finding it necessary to take a and signals is one solution that could render immediate taxi, I was alarmed to find the exit stairway dumping me and significant improvements. unceremoniously on the side of a busy junction where taxis We need an integrated plan that recognizes the cost of and buses could not stop. doing nothing and accommodates the needs of all. DPWH, I was recently talking to a consultant who is close to the the Department of Transportation (DoTr), the Metro Secretary of the Department of Public Works and Highways Manila Development Authority (MMDA), municipal (DPWH). Clearly, this Department has a huge task ahead. I planners and city executives must work together to arrive was told that the new administration plans to address many at an all-encompassing solution. And this must now be of the problems which face Metro Manila. These include addressed as a matter of the greatest urgency. upgrading existing roads and highways, reducing the propensity of certain areas of the city to flood, improving Terence A. Hockenhull is a long-term resident of the Philippines. He transportation hubs and intermodal facilities. Outside of is an accomplished sales consultant who is currently managing director of Metro Manila, major projects include highways linking an information technology services company.

The United States Embassy in Manila is organizing Absentee Voting Week events for the coming US national elections to provide voter assistance and accept voting ballots and Federal Post Card Applications. The American Citizen Services (ACS) unit of the US Embassy will provide assistance with voting registration on September 22 and September 29 from 1 pm to 3 pm at the US Embassy. ACS staff will be available to assist US citizens to register to vote in the US elections on November 8. Americans are advised to prepare the following when completing their voting registration materials: 1) their voting residence address, which is their last US address or their legal US residence address; and 2) their Social Security number or their State Driver’s License or ID number. Voting materials will be collected by US Embassy staff and forwarded to their respective local election official. A video discussing Frequently Asked Questions regarding Absentee Voting in US Elections is available at http://snip.state. gov/elx.

ADB appoints van Wees as new Vice President

The Asian Development Bank (ADB) has appointed Ingrid van Wees as Vice President for Finance and Risk Management. She will be responsible for the overall management of the operations of the Office of Risk Management, the Controller’s Department, and the Treasury Department, and succeeds Thierry de Longuemar. Van Wees is a senior official in the German Investment and Development Corporation (DEG) where her current portfolio covers debt, equity, and fund investments in Europe, the Middle East, and Asia. She also has treasury experience in developmental investment banking. Before she moved to DEG in 2004, Van Wees held management positions in corporate finance and business development with private corporations. She holds a Master’s degree in Business Administration from INSEAD and a Master of Science degree in Mechanical Engineering from Delft University of Technology in The Netherlands. ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, ADB in December 2016 will mark 50 years of development partnership in the region.

Australia-ASEAN Council marks first anniversary

The Australia-ASEAN Council (AAC) has marked its first anniversary since it was established by the Australian Foreign Minister Julie Bishop on September 8, 2015. Over the past year, the AAC under the leadership of its chair Christine Holgate (CEO, Blackmores) has actively promoted Australia’s relations with the 10 ASEAN member countries through a range of innovative projects and programs. The AAC has significantly raised awareness of the importance of Southeast Asia among Australians, and increased Australia’s profile across the region. It has initiated over 30 projects worth nearly AUD$2 million, which are enhancing cooperation and collaboration between individuals, institutions and organizations. Holgate said the AAC placed emphasis on knowledge development and strong community outreach programs that lead to lasting partnerships. The Ambassador of the Republic of the Philippines to Australia, H.E. Minda Calaguian-Cruz, congratulated the AAC on its anniversary. “That we have another support platform for countries in the ASEAN is one of the best things to have happened,” she said.

Atty. Jose ‘Pepe’ Villanueva III Publisher Ernesto P. Maceda Jr. • Henry J. Schumacher • Katrina Legarda Editorial Board Owen Orseno Editor-at-Large

Sonny Ramirez Art Director

Dimitris Lyritzis Sports Editor

Claire Madarang Copy Editor

Maribel de Guzman Accounts Manager Kristine Vinas Circulation Manager

Mabel Fortuno Editorial Coordinator Amar Estoya Distribution Manager

ALL CONTENTS COPYRIGHT 2012, RESERVED for The IMMIGRANT. No part of this publication may be used or reproduced in whole or in part, without the express written permission of IMMIGRA PUBLISHING, the publisher of The IMMIGRANT.

The IMMIGRANT P.O. Box 4230 Makati City, Philippines For feedback and comments, please email us at theimmigrantnewspaper@gmail.com or visit our website at www.theimmigrant.com.ph The IMMIGRANT is in ISSUU. Get your e-copy at http://www.issuu.com/theimmigrantnewspaper (c) 2015-2016

ON THE COVER:

The weekday crawl of traffic along EDSA has become a fact of life for residents of Metro Manila and its suburbs, as the country’s infrastructure development could not keep up with its robust economic growth. Photo from IROOM STOCK/Shutterstock.com

aseannews

EU expansion in ASEAN Europeans plan to grow their businesses in the region, as survey shows confidence in their profit outlook

uropean businesses are planning to expand their investment and operations in the Association of Southeast Asian Nations (ASEAN) as the region grows in global importance and ASEAN profits increase, according to the second annual European Union (EU) ASEAN Business Sentiment Survey, which polled more than 200 executives from European companies around South East Asia. Key findings from this year’s survey include: • Nearly three-quarters (74%) of European businesses project a rise in ASEAN profits for 2016 and almost threequarters (74%) expect ASEAN’s importance to global revenues to increase over the next five years. • As a result, European businesses are upping their investment in the region. Nearly two-thirds plan to expand operations and employment in the ASEAN region, and 85% are planning to increase their regional trade and investment. By contrast, less than half of European companies in China are planning to expand. • European businesses in the region are keen to see strengthened ties between the EU and ASEAN. Almost two-thirds (66%) of European companies want a European region-to-region free-trade agreement (FTA) with ASEAN,

and more than half (58%) feel they are at a competitive disadvantage without an overarching EU-ASEAN FTA. • However, policy challenges for businesses still remain, impeding ASEAN from reaching its maximum economic potential, as more than half (52%) of European businesses say that trade barriers are hampering supply chain efficiency. • Nearly half (44%) of European companies in the ASEAN report facing unfair competition from local and regional incumbents, including state-owned and government-linked enterprises. Based on survey findings, the EU-ASEAN Business Council is calling for the acceleration of the process for an EU-ASEAN FTA and for a speedier conclusion to existing bilateral FTA negotiations; more frequent and regular interactions between EU and ASEAN governments and the private sector; and continued progress on trade liberalization among ASEAN member states and with their external trading partners. Commenting on the results, EU-ASEAN Business Council (EU-ABC) Chairman Donald Kanak said: “It is clear that European businesses are optimistic and are investing for future growth in ASEAN. At a challenging time for the global economy, Southeast Asia is an economic

bright spot and European companies are keen to invest in the region’s rapidly developing consumer market and increasingly integrated production base. “The survey shows strong support for a substantive and meaningful EU- ASEAN FTA to support sustained European investment in the region, and the EU-ASEAN Business Council urges leaders from the EU and ASEAN to work together toward that end, and in the meantime the rapid conclusion of bilateral FTA negotiations between the EU and ASEAN Member States.” Commenting on the survey, EU Ambassador to ASEAN Francisco Fontan said: “Southeast Asia is central to the EU’s global trade negotiation agenda. As such we welcome European businesses’ embrace of ASEAN as a center of global economic growth. Industry and government must work together more closely to fulfill our shared goal of ever closer economic ties between the EU and ASEAN.” Also commenting on the survey findings, EU-ABC Executive Director Chris Humphrey said: “The EU-ASEAN Business Council is encouraged by European companies’ firm support for a high-quality, 21st century region-to-region FTA, and we are committed to working with the European Commission and ASEAN national governments to make this goal a reality.” In the Philippines, the full 2016 EU-ASEAN Business Sentiment Survey report, in PDF format (about 3MB), can be downloaded via the European Chamber of Commerce of the Philippines website, www.eccp.com.

The EDSA conundrum hen it comes to discussing the ultrahellish Manila traffic, there is no shortage of opinions. That’s why I’m not going to spend the next ten minutes of your life giving you my laundry list of solutions. Solutions are like opinions which are like, well, you know what. Everyone’s got one and, anyway, nobody really gives a rip. What I can regale you with, however, is a perspective that you may not exactly have considered, as you wallow away your life moving mere inches every few minutes in a vehicle designed to take you kilometers in the same short time span. First of all, let me just say that we need to get away from calling the current state of Manila traffic a “crisis.” Manila traffic was a crisis 20 years ago, and it was pretty darn bad back then too. But now, with the economy roaring along and Filipinos’ addiction to new cars leading to thousands of brand-new vehicles being put on the road every month, and traffic on the very same old roads at or near lockdown proportions, calling the current state of affairs a crisis is like calling Donald Trump’s hair an abomination. It just doesn’t do reality justice. No, what’s going on out on those ugly, decrepit streets is actually something much more darker, and more depraved and sinister than a crisis. It’s more like apocalyptic. I came upon this nightmarish epiphany several weeks back doing exactly what most of you spend a good portion of your days doing; I was stuck in a monstrous conflagration of metal, plastic, rubber, concrete, and steel on EDSA going nowhere fast. Thankfully I wasn’t behind the wheel and the aircon was in full blast. But that didn’t do anything to ease my irritation at knowing that our destination in Makati two kilometers away was probably going to take 90 more minutes, at least. I tried wasting time online but, of course the Internet being what it is in the Philippines, the data connection was so weak on my smartphone that it was simply making my headache and my irritation worse. So I spent my time looking out the window pondering the absurdity of it all.

Illustration by Sonny Ramirez

The sheer number of cars on the road has turned on Filipinos and created an apocalyptic traffic problem, says Ted Lerner

I think it was around the 18th minute of my staring at a giant billboard that it hit me like a ton of bricks. I started thinking about the car I was in, and the cars that everyone else was in. Yes, automobiles are invented by humans using centuries of combined knowledge in order to free us from the shackles of earthly antiquity, amazing contraptions representing the ultimate human expression of the longing for freedom. And yet as we race to have the nicest, the latest, the trendiest vehicle to show everyone how fashionable we are, we have awoken to an ugly reality. That is, the very vehicles we created to give us this ultimate freedom have actually turned on us, their masters, and enslaved us all. And there’s absolutely nothing any of us can do about it. “This is a future gone mad scenario happening right now,” I said to myself, the giant catalogue of plastic surgery

by Belo still hovering over me. “What has the human race wrought upon itself? How exactly did the situation get to this point? What is the point of all this so-called prosperity we claim to want when all it leads to is a 4 ½-hour trip to the store just to buy a kilo of rice and a 5-pack Yakult?” It was just about then that the blue and white MRT train rumbled past above, rousing me from my musings. I could see that the train was bursting at its riveted seams, with a good portion of sweaty and tired humanity. Ah yes, the MRT, I thought. I remembered when it came online in 2000. I love brilliantly thought-out infrastructure and mass transit, so I made sure I was one of the first to ride it. It was fantastic. It was new, the air conditioning worked, it flew up and down EDSA while everyone down Turn to page 10

The Immigrant faqs

On bank deposit secrecy and the Foreign Currency Deposit Act Danny E. Bunyi, Development Bank of the Philippines Senior Vice President and Corporate Secretary, enlightens us on the secrecy and confidentiality of bank deposits in the country. Q: What law specifically covers the secrecy or confidentiality of Philippine peso bank deposits? A: Republic Act 1405, otherwise known as “The Law on

the Secrecy of Bank Deposits.” It was enacted on September 9, 1955.

Q: What peso bank deposits are covered by RA 1405? A: All deposits of whatever nature with banks or banking

institutions in the Philippines, including investments in bonds issued by the Government of the Philippines, its political subdivisions and its instrumentalities, are covered by secrecy and considered as of an absolutely confidential nature. The deposits may not be examined, inquired or looked into by any person, government official, bureau, or office. Bank deposits would cover peso savings accounts, currents accounts, special savings accounts, ATM accounts, and accounts of similar nature.

Illustration by Manix Abrera

Q: What information regarding the deposits may not be disclosed? A: Any information concerning the deposits cannot be

disclosed. It is an industry practice as well to refrain from disclosing even the existence of an account and personal details of the account holder (e.g. address, full name).

Q: What are the exceptions to the secrecy law? A: a. When the depositor gives his written permission to

disclose. b. In cases of impeachment. The impeachable officers are the President of the Republic of the Philippines, Senators and Congressmen, Justices of the Court of Appeals and the Supreme Court, and Commissioners of the Commission on Audit (COA) and Commission on Elections (COMELEC). This exception was applied during the impeachment trials

of the former President Joseph Estrada and former Chief Justice Renato Corona. c. Upon order of a competent court (Municipal Trial Court, Regional Trial Court, Sandiganbayan, Court of Appeals, or Supreme Court) in cases of (i) bribery or dereliction of duty of public officials, or (ii) in cases where

Turn to page 7

The blue economy

ith 7,107 islands and a 36,000-kilometer coastline, the Philippines is a maritime nation. Its maritime transport system is a vital link of the country’s islands, people, and goods. More importantly, the Philippines is an important international partner in securing international shipping and shipping lanes, and needs the support of the leading trading nations that the West Philippine Sea and the China Sea remain safe international shipping waters. As a result of the Philippines’ unique geography, the nation’s socioeconomic progress has largely been affected by the maritime industry. The Philippine economy is growing rapidly and the maritime industry is among the key contributors to the country’s growth. The sector encompasses a wide range of activities from shipbuilding to shipping and ports, to fisheries and aquaculture, to recreational activities and tourism, to offshore energy exploration and extraction and to a large number of related economic services, which are all significant contributors to the national GDP and job creation. The Philippines is currently the fourth largest shipbuilding nation in the world in capacity, following Japan, Korea, and China. Moreover, according to a 2015 study conducted by the International Chamber of Shipping and the Baltic and International Maritime Council, the Philippines ranks as the top supplier of seafarers globally, providing 27.8% of all seafarers. Russians are second, with 7%! In 2014, the European Union was declared as the largest employer of Filipino seafarers. In the same year, Filipino seafarers manning European ships were able to remit US$3.35 billion back to their county, making the EU the second largest source of remittances to the Philippines. The majority of the domestic vessels are passenger (60%) and cargo (28%) ships, which are mostly imported to the Philippines. Almost 80% of the shipping operators are single proprietors, while 20% of the ships are

the money deposited is the subject matter of the litigation. d. In cases involving unexplained wealth filed against government officials under the Anti-Graft and Corrupt Practices Law (Republic Act No. 3019). e. Upon issuance by the Ombudsman of an order to disclose deposit information in accordance with its power to examine and have access to bank accounts and records (Republic Act 7680). f. Upon issuance by the Commissioner of the Bureau of Internal Revenue for the purpose of inquiring into the account of a deceased depositor for payment of estate taxes and in case of a tax compromise. g. Disclosures made under the Unclaimed Balances Law (Republic Act No. 3996, as amended by Presidential Decree No. 679). Under this law, bank deposits which have no movements for the last ten (10) years are escheated or forfeited in favor of the National Treasury. h. Disclosures made in compliance with the Covered Transaction Reporting and Suspicious Transaction Reporting made to the Anti-Money Laundering Council (AMLC) in accordance with Republic Act No. 9160 (as amended) otherwise known as the “Anti-Money Laundering Act of 2001.” You can note that under this law, the party disclosing in good faith the deposit to the AMLC cannot be held liable for violation of RA 1405, RA 6426, or RA 8791 (further discussed below) but when reporting covered transactions to the AMLC, the Bank institutions and their officers, employees, representatives, agents, advisors, consultants or associates are prohibited from communicating, directly or indirectly, in any manner or by any means, to any person (including the depositor himself/itself), entity, or the media, the fact that a covered transaction report was made, the contents thereof, or any other information in relation thereto. Neither may such reporting be published or aired in any manner or form by the mass media, electronic mail, or other similar devices.

FROM THE DESK

Henry J. Schumacher Vice President for External Affairs, European Chamber of Commerce of the Philippines (ECCP)

operated by corporations. Port services account for 6% of logistics costs in the Philippines, and the logistics market is expected to grow by 3% to 10% a year during the next decade. European shipping lines are the biggest employers of Filipino seafarers globally, preferring Filipinos for their high level of skills, capacity in the English language and work ethic. However, the competitiveness of the Filipino seafarer is being compromised due to the pro-claimant trend in National Labor Relations Commission (NLRC) rulings, which has led to substantial financial losses for ship-owners and an increased perception of risk in employing Filipino seafarers. Additionally, the employment of Filipino seafarers is subject to lengthy processes which are not aligned to the industry’s needs for fast deployment of crews. Addressing these concerns will guarantee the competitiveness of Filipino seafarers for years to come. Moreover, with its strategic geographical location, archipelagic nature and internationally integrated value chain, the Philippines has the opportunity to position itself as a regional hub for the maritime sector. A legislative framework which is conducive to developing the sector, such as the adoption of legislation that empowers the Maritime Industry Authority (MARINA) to implement international maritime conventions and legislation that modernizes the Philippine Ship registry, are integral to achieving the country’s full maritime potential. For the Philippines to become a truly competitive maritime nation, one of the imperatives is the development of a modernized, attractive ship registry. The Philippines has approximately only 100 ocean-going ships (international fleet) with a total tonnage of 3.1 million GRT registered. This is despite the country’s expansive pool of national crew, its excellent Turn to page 7

finance Long-term rentals - Becoming a landlord requires

Illustration from Cienpies Design/Shutterstock

15 ways

to make money in real estate

Ria Isobel Don of real estate website Hoppler.com.ph shares ways to live off your land holdings in the PH

ith the right amount of strategy, credible networks, and sometimes capital, you can find a lot of different opportunities to earn money, especially in real estate, because it will never go out of style. People will always look for a house to live in or a location to set up their businesses. In short, you can never go wrong in real estate when you invest in the right places.

Here are some ways to earn money in this booming industry in the Philippines:

Appreciation - The increase in value of a property

over time can generate income for owners through reselling and refinancing. Different factors such as market condition, home improvements, and neighborhood changes can affect the worth of your asset. It is best to sell your house when it appreciates since it is sure to give you profit.

time and effort aside from the money you already invested in your unit. However, long-term rentals are a guarantee that there is a continuous stream of profits for the rest of the tenant’s contract. Short-term rentals - While waiting for your holding to appreciate, there is an option to lease it out for shorter time periods. This will ensure returns for you, especially when market conditions are not as favorable to sell your property. Vacation rentals - Buy a vacation house and rent it out for a fee that is a little bit higher than your monthly cost. You get to have a vacation house that generates income, so in a sense, you get the best of both worlds. Rent-to-own deals - It gives tenants the opportunity to buy the house from the owner after a certain lease period, but with a higher rental price. If the tenant does not push through with buying your house, you have earned more than your usual rental price. Pre-selling and reselling - Condominium units are available for sale even before the buildings are built. This type of trade entails risks, however: the price of the units is lowest during this period. Investors may grab this opportunity to buy low then sell high, depending on its appreciation. Purchase raw land - Raw land is a lot cheaper than already-developed establishments you could buy. You can earn money by leasing it out or reselling it to other investors or developers who need a good location for their future projects. Farm investing - Aside from buying undeveloped land for commercial reasons, investors may also devote it to agricultural purposes.

Lease out commercial or office spaces -

Invest on an office space and lease it out to business professionals. Offices are also in demand as more companies emerge and expand. Buy a warehouse - Providing space for industries dealing with large equipment can also be a source of revenue. A warehouse can also be divided into storage rooms for multiple purposes.

Real Estate Investment Trusts (REITs) -

An REIT is a stock corporation established for the purpose of owning income-generating real property assets. Become a broker/agent - Becoming a broker or an agent would require a lot of negotiations, paperwork, and legwork. On the other hand, the compensation is well worth the effort once you have closed your deals. Manage properties - If you have friends or connections who own vacation houses or investment properties, you can help them administer the transactions concerning their Turn to page 10

TIEZA: A pillar for balanced, sustainable tourism

Atty. Mark Richard Evidente explains why tourism enterprise zones, and planning them properly, are crucial to sustaining the industry’s growth for the long term

he year 2015 was a record one for the Philippine tourism industry. The country received 5.36 million international arrivals spending a total of Php 227.6 billion, capping off a trajectory that kicked into higher gear in the last five years. Part of that growth can be attributed to the Tourism Act of 2009 (Republic Act No. 9593), which made significant reforms in the governance structure of the industry. The first and most visible aspect was the promotions campaign – tourists cannot go to a place or enjoy its attractions if they do not even know it exists. Some ASEAN countries spend over USD 100 million for this, so the law created a fund to put the country at least within striking distance. It also brought public and private sectors together in the Tourism Promotions Board (TPB) to manage the fund responsibly. The second, but less visible, aspect focuses on the quality of our facilities and services. The Department of Tourism (DOT) was required to revamp the accreditation of hotels, travel and tour businesses, among others, to bring them in line with recognizable international standards. The Tourism Congress was also created to represent the private sector and work with DOT to ensure that all stakeholders are involved in the process. A National Tourism Development Plan was mandated to map out the development of the industry.

Finally, the third aspect is critical in sustaining long-term tourism growth – ensuring that communities benefit from tourism, and that the local environment and culture is respected and protected. This is the responsibility of the Tourism Infrastructure and Enterprise Zone Authority (TIEZA). Our ability to continue to attract tourists over a period of time, while supporting business and investment, and managing environmental and social impacts, depends on the proper planning of tourism zones. The role of TIEZA is to ensure that tourism enterprise zones (TEZs) are developed in an economically, environmentally, and socio-culturally responsible manner by combining investment incentives with strong regulations. A TEZ developer must present a development plan that considers environmental and socio-cultural impact together with proper tourism design. Only when the plan is approved will the developer and investors in the zone be able to enjoy tax incentives – an income tax holiday, a 5% gross income tax rate, tax and duty free importation, among others. Crucially, if a developer is unable to meet the standards and goals set out in the development plan, the tax incentives can be suspended, and even withdrawn. What gives TIEZA a competitive advantage over other investment agencies is that it supports both local and foreign tourism. Other investment agencies require investors to

prove that much of their income is from “export sales.” This often proves unrealistic, as the industry needs to be flexible in catering to both markets to meet the bottom line. Moreover, our country needs to encourage our people, as we grow wealthier and travel more, to spend our money here, and discover our own country. As a new agency, however, TIEZA has encountered problems under the previous administration. The Department of Finance and Bureau of Internal Revenue refused to honor its incentives powers, resulting in the freezing of billions of pesos in tourism investments. Imagine how much more our tourism industry could have grown if the hotels and attractions had been built in the last six years? This is now the challenge facing the Duterte administration – if it can truly understand and carry out what needs to be done to grow the tourism industry and boost the Philippine economy. Atty. Mark Richard Evidente is both a lawyer and licensed environmental planner. He is President of TwoEco, Inc. a consulting firm on tourism development, which crosses the fields of law and policy, economics and business, environment and culture, and planning and design. He has handled TIEZA applications and prepared tourism development plans for businesses and local governments. Mark worked in the Philippine Senate under Sen. Richard Gordon, and in private practice with SyCip Salazar Hernandez and Gatmaitan. He obtained his law and political science degrees from the University of the Philippines, and his masters in environmental management from Yale University.

city focus

South Luzon’s nerve center San Pablo City is low-key and green, but as Ishmael Amigo writes, the role of Laguna’s largest metropolis can’t be overlooked

he city of San Pablo may be low-key compared to its more popular siblings in the province of Laguna such as Los Baños, Calamba, and lately, Santa Rosa, but the City of Seven Lakes is the nerve center of Southern Luzon and a worthy starting point for travelers who want to explore the areas south of Metro Manila. One of the Philippines’ oldest cities and the largest metropolis (in terms of land area) in Laguna, San Pablo serves as a hub for people going to Cavite – particularly scenic Tagaytay – in the west, Lipa and Batangas City in the southwest, Lucena and the Bicol Region to the east, and Lucban, Pagsanjan, and the provinces of Quezon and Aurora to the northeast. A first-class city whose history dates back to pre-Spanish times, San Pablo’s first name was Sampaloc, after the first settlement rife with tamarind trees near the foot of Mount Makiling to its west. To the east lies Mount San Cristobal and Mount Banahaw, thus its lakes are natural basins for the waters running down these hills. San Pablo’s seven lakes are named Sampaloc, Bunot, Calibato, Palakpakin, Muhikap, Pandin, and Yambo. The latter two are considered “twins,” separated only by a small strip of land on the northeastern corner of the city, but Sampaloc Lake is by far the biggest of the seven and is found just at the back of City Hall. As with any body of water, the lakes are the center of life in San Pablo. It gives locals

the islander

Clockwise from top right: San Pablo City Hall, built during the 1940s. (Photo by Larry Barcoma); A stunning view of Mount Banahaw, with Sampaloc Lake – one of the seven lakes of San Pablo – in the foreground. (Photo by Tony Hidalgo via Flicker.com); A model house and its bridge are on display at the Hacienda Escudero mixed-use development. (Photo courtesy of Landco); The Cathedral of Saint Paul the First Hermit in San Pablo City. (Photo by Ramon F.Velasquez via Wikimedia Commons)

their livelihood through fish pens, boat and raft rides, private picnic spots, and floating restaurants that serve fresh fish like tilapia, shrimps and other piscine delicacies. The roads around the lakes, especially Sampaloc, become de facto running tracks for health buffs or residents who simply want to stroll with their pets. San Pablo is by no means rustic, even though it is more agricultural than most cities. That aspect comes alive every January with the Coconut Festival, which began in 1996 to celebrate the so-called tree of life. It became the city’s main cash crop after the owners of Villa Escudero, the historic plantation just south of San

Pablo’s limits, decided to plant coconuts instead of sugarcane in the 1900s. (It also gives the city reason to stake a claim as the buko pie capital of Laguna, even though the pastry was first developed in Los Baños.) A constant reminder of the country’s colonial past, the hacienda continues to influence the city even after the Escudero clan decided to convert their land into a cultural resort and museum. Later, the family sold about 415 hectares to the developer Landco, which is now building what it calls a “history-town-themed community” with a mall, hotels and a convention center.

That’s consistent with San Pablo’s essence as a residential enclave, the home of the workers of the industrial estates and export processing zones around it. But the local government is also positioning the city as the ICT (information and communications technology) hub of Southern Luzon, and business process outsourcing companies are building offices here with gusto. Considering the city has been the nerve center of activity in the region south of Laguna Bay for centuries, it is just fitting that San Pablo connects its neighbors to the big new wired world, while reminding us all that cities can be green and don’t have to look like concrete jungles all the time.

Bohol 360

ost visitors to Bohol take the mandatory countryside tour to see the Chocolate Hills and the tarsiers. But people miss out on a lot of stuff inside an air-conditioned van in a pre-packaged tour. Why not stay longer and take a slow motorcycle ride around the island instead? To do this, just bring a backpack big enough for all the souvenirs you can handle, have a friend ride on the back seat, and bring a good point-and-shoot camera. Nothing beats having the wind in your hair, feeling the sun shining on your face, smelling the salty sea by the coast, and taking your time while rolling through the well-paved coastal roads of Bohol. I did just that over three days last summer with a friend on my trusty 110-cc motorbike. I had a helmet on – to prevent heatstroke more than a head injury –and lots of water to stay hydrated. My trip around Bohol began at around 10 am, and from Tagbilaran City I rode east on Bohol’s South side. The first site to see is the Blood Compact marker at Bool, a barangay of “Tagbi,” where a bronze statue depicts the peace treaty between Rajah Sikatuna and Spain’s Miguel Lopez de Legazpi. Less than five kilometers from Bool, I passed by the reconstruction of the Baclayon

Church, one of the oldest coral churches in the Philippines, as it slowly rises from its destruction from the 2013 earthquake that also hit other churches in the province. Further down is the town of Loay, known as the home of the best smiths in Bohol. The Southside gave way to endless stretches of aqua green and deep blue waters partnered with gentle winding roads, perfect for driving music and singing along too. At Lila town, you will find the freshest watermelons, so be sure to stop at the roadside stalls here. If you want something fresher than the ones being sold, the vendor will pick one from the watermelon patch right behind him. As you pass each town you will see a pattern, evidence of the lingering Spanish influence on the Philippines. There is almost always a church right across the town hall and a municipal market, either around a town square or within walking distance of each other. In Bohol, even the most common places, like a gas station, are Instagram-worthy – the one over at Garcia Hernandez town has sapphire blue waves behind its gas pumps. Back on the road, I breezed through Jagna, the town of authentic Boholano calamay (coco jam), to the southeastern tip of Bohol known as Anda, and on the way to the town’s capitol, no less than 10 resorts

Clockwise from top left: The ruins of the church of Loon; the colorful fire trees on both sides of the road going to Tagbilaran City from the northern roads; the church at Calape modeled after the Notre Dame; The pristine blue waters off the beaches of Anda.

or dive places tried to grab my attention. This is where I decided to stay the night, as Anda’s beaches are worth the stop. The next day, I turned north, passing the towns of Alicia, Ubay, Trinidad and the port of Talibon, which links Bohol to Cebu and Samar. And though the roads of the North were a bit farther from the coast than their Southern counterparts, the journey offered more greenery. Though every town has its own parish church, the one in Calape town is an attention grabber because it resembles the famed Notre Dame. Nearing the end of my trip, I arrived at the ruins of the church of Loon, which was

completely demolished by the 2013 quake. Remnants of the pews and one remaining side door were all that was left of it. On my way home, rows and rows of fire trees decorated both sides of the road, adding a welcome splash of color to Bohol’s northern roads. Then, one town before arriving at Tagbilaran, I saw one final treat: a “Bohol” sign in Hollywood fashion (can we say Bohollywood?) standing on the hillside of Cortez town, a testament to the Bol-anon spirit that remains unfazed despite calamities, with a great sense of humor. Take that motorcycle trip around the island today to see for yourself.

Photos by Keats Ronquillo

Keats Ronquillo decides to hop on his motorbike and go around the island of the Chocolate Hills on a leisurely countryside tour

condoliving

On bank deposit... From page 4

Q: What law covers the secrecy of foreign currency deposits? A: Confidentiality of foreign currency deposits are covered by Republic Act 6426, otherwise known as “The Foreign Currency Deposit Act of the Philippines.”

Q: What is the confidentiality rule under RA 6426? A: All foreign currency deposits authorized under RA

Q: What are the exceptions under RA 6426?

All photos for this story are courtesy of (from top) De La Espada, Hay, Objekten Systems, BassamFellows, and Bolia.

6426 (as amended by PD No. 1035 and PD No. 1034), are declared as and considered of an absolutely confidential nature and in no instance shall such foreign currency deposits be examined, inquired, looked into by any person, government official, bureau, or office whether judicial or administrative or legislative, or any other entity whether public or private. Deco Sofa

A: The only exception (compared to RA 1405) is upon the written permission of the depositor.

Q: Are foreign currency deposits exempt from garnishment or attachment? A: Yes, foreign currency deposits are exempt from

attachment, garnishment, or any other order or process of any court, legislative body, government agency, or any administrative body whatsoever.

Q: Are bank deposits and investments in government bonds the only properties covered by confidentiality or secrecy? A: No, Section 55 (b) Republic Act 8791, otherwise known

as the “General Banking Law of 2000” includes a provision that “no director, officer or employee, or agent of any bank shall without order of a court of competent jurisdiction, disclose to any unauthorized person any information relative to the funds or properties in the custody of the bank belonging to private individuals, corporations or any other entity; Provided, that with respect to bank deposits, the provisions of existing laws shall prevail.” (i.e. these would refer to RA 1405 and RA 6426). Most banking experts believe this prohibition would cover Trust investments/placements, loan data and safety deposit boxes. Disclaimer: The FAQs above are the sole opinion of the writer and should not constitute as legal opinion or advice. – The IMMIGRANT

The blue economy From page 4

geographical location, and its high level of integration in international supply chains. The ship registry in the Philippines is currently governed by the Tariff and Customs Code of the Philippines (Republic Act No. 1937). The Act came into effect in 1957 and limits its scope to the registration of domestic vessels. Presidential Decree No. 760, as amended by PDs Nos. 866 and 1711, instituted the scheme for bareboat chartering ocean-going ships and their registration under the Philippine flag. An incentives scheme granted to the sector through the enactment of RA No. 9301 in 2004, expired in 2014. Effectively, the current policy framework governing the Philippine ship registry does not provide sufficient flexibility and incentives to registered ships to render it attractive to ship owners in the current day context of the global maritime sector. Numerous countries have open registries, either as a second registry or their main registry. Open registries offer fiscal and non-fiscal incentives to shipping lines, such as flexibility in the nationality of the crew, tax exemptions (increasingly in the form of collection of tonnage tax instead of corporate income tax) and the creation of maritime hubs servicing shipping lines. Norway, Denmark, and Singapore are some of the renowned international flags of choice. While many open registries are considered as flags of convenience, this is not the ambition for the Philippines. Rather, what is envisioned is a ship registry that will become more competitive and thus strengthen the genuine link between ships and the flag state, by using Filipino crew, Philippine management and following the Philippine rule of law, always in line with international maritime agreements, such as MLC (Maritime Labor Convention) 2006 formed by the International Labor Organization or ILO.

Sofa, so good

Picking out a high-end contemporary sofa takes some careful consideration, as Todd delos Santos explains

sofa is arguably the most important piece of furniture you can buy for your home, apart from the bed in the master bedroom of course. Not only does it serve as a second bed (and as your favorite dumping place for all the things you carry into your home), a sofa sets the tone for your living room and the way you’ll move around it. Before you run out and grab that shiny new long chair in the showroom, consider these questions: How big is your living room? How long will you keep it? How much are you willing to spend for it? “Functional practicalities aside, a sofa is likely to be a mainstay, something you will live with for a number of years,” says interior designer Gerard McGuickin of Decoist.com. “As such, it should be treated as an investment and not as a fashion item. Scrimping on a sofa is a false economy.” A well-designed sofa, McGuickin adds, will last much longer than poorly-designed ones and those made with substandard materials. “Good design may be more expensive, but it is invariably for the long haul,” he says. The designer lists several other requirements for a sofa: a) it should be practical with a pleasing aesthetic and a clean modern or contemporary style; b) its design should be simple and un-fussy, given that it can dominate a space; and c) it should be strong enough to endure frequent use and change. With that in mind, here are some sofa models that check all the boxes, as evaluated by McGuickin:

Mags Sofa

Open Modular

Deco Sofa – Created by Istanbul-based

multidisciplinary design studio Autoban as a modernist approach to Art Deco and manufactured by De La Espada, this has geometric shapes, oversized screws, and the cleanest of lines.

Mags Sofa – Hay’s creation focuses on three key

Salon Lounge

elements: composition, foam, and interior padding, making it a durable piece that’s minimal in design yet maximal in comfort.

Open Modular – Made by Alain Berteau of Objekten Systems, this sofa provides users with comfort, functionality, ease of use, and an aesthetic edge. Salon Lounge Series – Despite its somewhat

formal appearance, this sofa is exceptionally cozy. Conceived by BassamFellows, it encourages conversation, companionability, and a cordial disposition in a most meticulous manner.

Scandinavia – A corner sofa designed by Glismand & Rüdiger for Bolia, it is the epitome of Scandinavian design – clean, minimal and very handsome.

Scandinavia

In the Philippines, you can try hunting for these sofas (or their look-alikes) at these furniture stores and showrooms: Mandaue Foam, SB Furniture Philippines, Crate and Barrel, MOD Living Furnishing, Ethan Allen, SM Our Home, Home Depot (either CW or MC), and Dimensione.

good company The Peninsula Manila GM Mark Choon Lady Betty Kadoorie

The Peninsula New York GM Jonathan Crook and wife Beliz

Nina Bieger with William and Heather Mocatta

HSH Chairman The Hon. Sir Michael Kadoorie

motoring

HSH COO Peter C. Borer, HSH Chairman The Hon. Sir Michael Kadoorie

Natalie Kadoorie Gonzales,Yoko Hatori Colfer, and Lady Betty Kadoorie

Kong in 1866 was a place of great adventure, optimism, and entrepreneurship. One of these entrepreneurs and adventurers was my grandfather Sir Elly Kadoorie, who had the foresight to buy 25 shares in the company in 1890. “Both Sir Elly and my father, Lord Lawrence Kadoorie, were far ahead of their time in their approach to the hospitality business. There were many doubts as to whether The Peninsula would ever succeed and they encountered stumbling blocks along the way. “With their determination and unfailing optimism, the project went ahead, and the opening of The Peninsula Hong Kong was celebrated in 1928 to great acclaim as the ‘Finest Hotel East of Suez.’

Here are some of the sports cars to look forward to in 2017, as Gil Garcia reports

German-engineered precision handling makes ccording to good ol’ Merriamfor an explosive ride. The top-line GTS variant Webster (the dictionary of pumps the engine up to 493 hp, but only course), the first known use comes in an automatic-transmission coupe. of the term “sports car” was Purists may prefer the Competition variant in 1928. Nearly 90 years later, there are so that’s a manual and can also be a convertible. many variants of the sports car that the only Price: $66,200 thing they have in common is their basic Chevrolet Corvette – Its 2017 Grand purpose: a low-built automobile designed for Sport edition pays homage to its ancestors spirited performance and nimble handling at – the 1963, ‘96 and 2010 editions – with its high speeds. 6.2-liter LT1 V8 engine that pumps out 460 If you are in the Philippines and are hp. Its compact design lowers the hoodline for fortunate enough to live in an area with optimal weight balance, and comes in sevenkilometers of pavement unimpeded by lesser speed manual or eight-speed automatic. Car vehicles and that monster called traffic, taking and Driver magazine says this Chevy “has the stock of the following beauties that have made stance of a thick-bodied lizard and the feet of many “best car” lists is recommended before a gecko,” but it’s hard to get turned off by this you make your next car purchase. ravishing reptile. We list the cars in alphabetical BMW M4 Price: $65,450 order along with the attributes Dodge found in these cars’ 2017 models Challenger and the specs of their latest version SRT Hellcat – in case next year’s models are not “It sits quietly, yet available, so you can judge for patiently, like yourself if the automobile you have it’s stalking prey. in mind is truly worth the thousands Then suddenly, of dollars you will give up for the Chevrolet Corvette your red key exhilaration of driving it. (Prices are for the base model in US dollars Ford Mustang and as quoted on the automakers’ websites.) BMW M4 – The highperformance version of the stock Ferrari 488GTB BMW 4 series, the M4 gets its power from a 425-horsepower Jaguar F-type R inline-six-cylinder twin-turbo engine, and paired with its

“My uncle, Sir Horace Kadoorie, whose involvement with the company spanned 47 years, inspired management to pursue the highest standards of quality and service. These standards have carried through to our properties today. “During our long history, we have always strived to combine the best of the past with a vision for the future. Our pioneering approach to technology and innovation, as well as our outstanding customer service, has led to many awards and accolades for our hotels and properties. “This is thanks to all of you, our managers, your teams, colleagues and these people who greet our guests on a daily basis. You are the face of Peninsula Hospitality, and I am most grateful for your loyalty and service,” Kadoorie ended.

Sporty Picks

Dodge Challenger SRT Hellcat

The Peninsula Chicago GM Maria Razumich-Zec

Philip Kadoorie

The parent company of the Peninsula Hotels group marks 150 years with a grand gala dinner. Maurice Arcache reports.

he year 2016 is a very special one for the Hongkong and Shanghai Hotels, Limited (HSH), the holding company of the world-renowned Peninsula Hotels, that is celebrating its 150th Anniversary. HSH was incorporated on March 2, 1866, making it the oldest company registered on the Hong Kong Stock Exchange, and the world’s oldest hotel group in continuous operation. The HK-based company also counts among its properties The Peak Tram, Peak Tower, and Repulse Bay Complex. Throughout the year, HSH will celebrate its sesquicentennial with a number of public and private events that will showcase Hong Kong in a management light to overseas visitors as well as local residents. Some Peninsula Hotels are also celebrating milestone anniversaries this 2016: The Peninsula Manila (40 years), The Peninsula Beverly Hills (25 years), and The Peninsula Chicago (15 years). In honor of this momentous occasion, HSH Chairman Sir Michael Kadoorie hosted a gala dinner for the board of directors, general managers, and key members of its properties from all over the world at The Peninsula Hong Kong. In his speech, Kadoorie said: “The founders of the Hong Kong Hotel Company were visionaries who believed in Hong Kong and the future of travel. Hong

The Peninsula Hong Kong GM Rainy Chan and The Peninsula

unlocks and awakens the unprecedented 707-horsepower of the most powerful muscle car on the planet,” says Dodge, and it certainly isn’t shy with the superlatives. It also says the Hellcat is the fastest muscle car on earth with a 10.8-second clocking on a quarter mile, thanks to a supercharged 6.2liter HEMI engine that’s the most powerful production V8 made. Price: $62,495 Ferrari 488GTB – The letters in its designation stand for Gran Turismo Berlinetta, the predecessor of this Prancing Horse first made 40 years ago, while the numbers indicate its engine’s unitary displacement. Whatever its moniker, this Ferrari opens a new chapter in the Italian marque’s 8-cylinder history by delivering “unparalleled performance (while) it also makes that extreme power exploitable and controllable… even by less expert drivers.” Price: $249,150 Ford Mustang – Let’s go straight to the iconic Mustang’s Shelby GT350 model, with its 5.2-liter V8 that cranks out 526 hp and boasts a TREMEC six-speed manual tranny. It’s striped and badged all over – on the hood, grilles, rocker panels, and rear spoiler, and a model-specific chin spoiler to give this

Mustang an extra ounce of attitude. Price: $54,570 Jaguar F-type R – Offering “outstanding levels of dynamic capability and control,” Jaguar’s most powerful and athletic product boasts of a five-liter supercharged V8 that produces 550 hp. Its advanced all-wheel drive system continuosly monitors driving and road conditions to optimize traction and handling balance, truly balancing its brute force with its gorgeous sheet metal. Price: $105,400 Lamborghini Aventador – The Raging Bull’s coupe comes at you with “relentless force” as it tries to set a new benchmark for “super” sports cars. Armed with a 6.5-liter V12 that reins in 740 hp, the Aventador has been called “brutally powerful and obscenely flamboyant” and for good reason, as its seven-speed “automated manual” transmission and all-wheel drive are just too good. Price: $402,995 Mercedes-AMG GT S – Consistent fivestar ratings are a norm for this sports car with the three-spoked star marque, as its four-liter V8 bi-turbo engine with 510 hp is handcrafted by Mercedes and “is an outstanding expression of the essence of AMG.” Although it has lost its gullwing doors, this GT comes in coupe and convertible configurations, and can still swoop down on the competition. Price: $130,825 Porsche Cayman GT4 – “Rebels, race on,” declares the brand on its web page for the sports car, and they will once they get their hands on this snarling race-bred beauty that packs a 3.8-liter 385-hp engine. This Cayman only comes in a six-speed manual that sports car enthusiasts will no doubt be pleased with, as it doesn’t sacrifice the power and performance expected from a Porsche. Price: $84,600

Mercedes-AMG GT S Porsche Cayman GT4 Lamborghini Aventador

All photos for this story are courtesy of BMW, Chevrolet, Dodge, Ferrari, Ford, Jaguar, Lamborghini, Mercedes-Benz AMG, and Porsche.

Hospitality milestone

Legendary hotelier and former GM of The Peninsula Manila Felix Bieger

sports

Aussie-Swiss domination

Tim Reed and Caroline Steffen successfully defended their Ironman triathlon titles in Cebu. Lem Lyritzis details it here.

The EDSA... From page 3

below on the road sat in the world’s biggest parking lot. And hardly anyone was riding it. It opened up an entirely different way of living and getting around Manila. They surely need to cover the metro with these, I thought at the time. But, of course, all that good stuff didn’t last long. The powers that be made sure of that. The public vociferously complained that the MRT was too expensive. The masses didn’t want to take it because a ride on the MRT was Php25 when they could ride a bus for Php12 to Php15. But wasn’t that the point of any shiny new infrastructure? It shouldn’t cost the same as a decrepit old bus, should it? It should be slightly more expensive. That way the people stuck in traffic below can look up and think about how taking this new train might just upgrade their life. Yes, they would spend a bit more, but they

Photos by Ernesto Mendoza Jr.

breathtaking run by Australian Tim Reed saw him complete a successful defense of his title at this year’s Cobra-sponsored Ironman 70.3 Championship in Cebu, while Swiss Caroline Steffen had to come through a turbulent latter part of the run to extend her winning sequence in Cebu to five successive wins. The conditions were hot and humid as Reed simply blew away his competitors straight from the second transition to finish in three hours, 51 minutes and 46 seconds, with Craig Alexander and Sam Betten coming in 3:15 and 5:30 behind him, respectively, to complete an Australian sweep of the medals. This top three also dominated the swim section with fellow Australians McMahon, Montgomery and Griffin, along with Spanish Antony Costes, before Reed put on a demonstration run as he pulled away and never looked back. “On the bike I really had to go for the first 10-15 kilometers and I made the move to put the pressure on everyone,” Reed told the press afterward. “I knew there was some fantastic runners and I knew I didn’t want to get off the bike with everyone having fresh legs… I felt good early on the run. I had a really bad patch, but thankfully it all came good for the last 6-7 kilometers.” In the women’s race, Steffen – known as the Queen of Cebu – was pushed hard by the Czech Republic’s Radka Vodickova, who dominated the swim before being reeled in and overtaken by the Swiss athlete on the bike ride. Steffen then opened up an unassailable lead on the run. She went through a rough patch with 5 kilometers remaining, but finished in 4:16:19, over two minutes ahead of the Czech athlete and 5:34 ahead of the Australian Sarah Crowley in third place. This year’s Asia-Pacific leg of the World Triathlon Corporation’s Ironman 70.3 Championship, which was the first time the regional championship was brought outside Australia and New Zealand, featured around 3,000 competitors. The professionals used the race to boost their chances of qualifying for the World

The Cobra Ironman Championship in Cebu, where Caroline Steffen (upper left) and Tim Reed (upper right) defended their respective division in the races around Mactan Island, was a qualifying event for the 2017 World Triathlon Championship in Tennessee.

Championship held at the end of the 12-month qualifying period. The 70.3 refers to the distance in miles covered in the race – consisting of a 1.2-mile swim, a 56-mile bike ride, and a 13.1-mile run – which is exactly half the distance of the original triathlon. The race, known as “the Hollywood of Triathlon” due to its stunning location, attracted competitors from nearly 50 different countries, including Australia, America, England, and Malaysia, Mexico and the United Arab Emirates. It offered $75,000 in prize money, as well as the

coveted 50 qualifying age-group slots for the 2017 Ironman 70.3 World Championship in Chattanooga, Tennessee. The swim section started at the beautiful Shangri-La Mactan Beach Resort. The bike leg then took in much of urban Cebu in a kind of M-loop, while the run sector was raced along the roads of Punta Engano on Mactan Island. The famous headwinds of Cebu were out in strong force, and the competitors all felt the full fury as they set off on their bikes. The race proved to be a huge success with no major problems or setbacks, and

the organization will bid again for the right to host the championship leg. “I am not at all surprised that the Cobra Energy Drink Philippines 70.3 sold out in record time. It is a crown jewel in Asia, a race of superb quality, passion, and commitment to our athletes,” said Andrew Messick, President of the World Triathlon Corporation. The actual Ironman 70.3 Philippines will continue every year regardless, with the urban and rural charm of Cebu, as well as the warmth and hospitality of its people making it a natural favorite with all concerned, especially the athletes.

would also be more productive, less tired. That’s how progress happens. The government, though, caved into populist pressures and ordered the prices to be slashed in half. Naturally, the masses flocked to the train, and the waiting lines became as bad as EDSA traffic itself. Eventually, after years of way too much use and not enough revenue, the MRT became exactly what you would expect: a utilitarian nightmare piece of machinery. I occasionally ride the MRT, and the LRT, when I’m in Manila and the traffic is at its usual standstill. Yes, it does move you from here to there. But it is no picnic. It is way overcrowded, it’s hot, some cars have lousy or no air conditioning, and the signage is atrocious. There’s no way executives or business types would ever make this a part of their daily traveling routines, unlike the way they do in more enlightened cities like Hong Kong, Bangkok or Singapore. And so no matter what the government comes up with in the way of emergency

powers to try and fix the EDSA conundrum, it simply won’t work, at least not in your lifetime or mine. Any proper infrastructure to alleviate this hellish mess would take decades to complete. For now, we must face the brutal, cold facts. It’s too late to turn back. Our barometer of success in this modern culture are the very toys that have turned on us and made us their slaves. We are addicts of our own making. It is said by some that the burgeoning world of artificial intelligence (AI) could pose a threat to humanity by one day turning on us all and taking over. For anyone living and passing through Manila, though, there is no need to wait for AI’s rise. The automobile has gotten there and done the job first.

15 ways...

Ted Lerner is the author of the classic book Hey,Joe—a slice of the city, an American in Manila, as well as a book of Asian travel essays, The Traveler and the Gate Checkers. He also works in professional boxing as a writer and ring announcer, and in professional billiards as a writer and TV commentator. He has lived in the Philippines for 20 years.

From page 5

rental space. This is beneficial for property owners who are out of town or too busy to handle the legwork. Be a contractor - A real estate development will not be possible without a contractor. This is a vital aspect in the industry that could produce returns when you have enough stocks to invest.

Partner with a real estate firm and other industry professionals - If you have the capital

but lack the connections, it is best to seek a partnership with the people who have been in the industry and have already made a name. This will ensure that your investment will not be in vain and your transactions are legitimate. We at Hoppler are always looking forward to working with you in your search for residential and commercial properties. Visit us at www.hoppler.com.ph for more details.