Manila Standard - 2016 October 28 - Friday by Manila Standard

Baguio beauty is Miss Intl By Nickie Wang FILIPINO beauty queen Kylie Verzosa won the Miss International title at the beauty pageant held at the Tokyo Dome City Hall in Tokyo on Thursday. The 24-year-old model and Business Management graduate of Ateneo de Manila University bested 68 other candidates from around the globe. Next page

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Joint exercises possible—Rody PH, Japan reaffirm maritime cooperation By Sandy Araneta

RESIDENT Rodrigo Duterte said Thursday he is open to having joint exercises with Japan, after he announced the end of military exercises with the United States.

HANDS TOGETHER. President Rodrigo Duterte (center), accom-

panied by Transportation Secretary Arturo Tugade (right) and Defense Secretary Delﬁn Lorenzana applaud the end of Japan’s coast guard drills in Yokohama on Thursday, on the ﬁnal day of his state visit during which tensions in the South China Sea have been a key topic. AFP

TRACKING TECHNIQUES. A Japan Coast Guard security team

displays tracking and capture techniques by rigid-hulled inﬂatable boats against an unidentiﬁed ship at sea in Yokohama Thursday, with visiting President Duterte and some of his Cabinet men (not in picture) observing the coastguard drills. AFP

“Joint exercises? Yes, of course... In general terms, yes, no problem,” Duterte said during an interview with reporters after he visited the Japanese Coast Guard on Thursday afternoon. Duterte said patrol vessels from Japan would be used within the country’s territorial waters, including the West Philippine Sea. In July, the Coast Guards of both countries conducted their sixth Joint Maritime Law Enforcement Exercise. In Japan, Duterte said he saw no issue with China if the Philippines used patrol vessels acquired from Japan to patrol the West Philippine Sea. “I do not think they would stop us,” he said, referring to the Chinese. During his three-day official visit to Japan, Duterte and Prime Minister Shinzo Abe reaffirmed their countries’ maritime cooperation. Their joint statement said that Japan would provide patrol vessels and other equipment for the Philippine Coast Guard. Duterte and Abe also witnessed the signing of the Exchange of Notes on Japanese Official Development Assistance (ODA) Loan for the two large-scale patrol vessels to the Philippines. Duterte lauded Japan’s intention to provide high-speed boats to the Philippines. Next page

VISION OF DELIGHT.

Binibining Pilipinas-International 2016 Kylie Verzosa is the new Miss International, succeeding title holder Edymar Martinez of Venezuela who passed on the crown to her Thursday night in Tokyo, Japan. The 24-year-old Baguio City-born model is her country’s 6th winner to bring home the crown. AFP

Filipina 2nd best in Miss Grand Intl contest

PH-US ties Du30 condoles with emperor’s family strained by ‘string of tirades’ By Sara Susanne D. Fabunan WASHINGTON on Thursday said President Rodrigo Duterte’s daily anti-US tirades were “contributing to greater uncertainty” in Philippine-US relations. In his daily press brieﬁng, White House Press Secretary Josh Earnest said Duterte’s “string of unproductive rhetoric” was inconsistent with 70 years of strong diplomatic relations between Filipinos and Americans. “[T]he string of counterproductive rhetoric... has injected some unnecessary uncertainty in the relationship between the United States and the Philippines,” Earnest said. “And I don’t think I’ve been coy about the fact that we’d rather not see this kind of rhetoric from the President of the Philippines.” Next page

PRESIDENT Rodrigo Duterte’s courtesy call on Emperor Akihito was canceled Thursday as the Japanese imperial family went into mourning for the emperor’s uncle, Prince Mikasa who died at the age of 100. Duterte said he respected the imperial family’s time of mourning and expressed his condolences. “The protocol ofﬁcer said not to go there anymore because they are in mourning. I respect that because I would ask the same… if I

were in his shoes,” Duterte said. Prince Mikasa was the youngest brother of the current emperor’s father Hirohito, in whose name Japan fought World War II. Duterte and Akihito were slated to meet before the President concluded his three-day ofﬁcial visit in Japan on Thursday. Mikasa’s death coincides with renewed attention to the future of the aging and shrinking imperial family and whether women should be allowed to inherit the throne,

breaking a males-only succession tradition that conservatives say is central to an imperial tradition stretching back 2,600 years. Mikasa, a scholar of ancient Oriental history, taught at colleges, and served as honorary president of the Middle Eastern Culture Center in Japan and the Japan-Turkey Society. Emperor Akihito, 82, hinted in August that he wanted to abdicate—a step unprecedented in Next page

De Lima coddler of drug lords—minority By Christine F. Herrera THE opposition bloc on Thursday released a “minority report” that tagged Senator Leila de Lima as a coddler of drug lords and recommended the filing of criminal charges, including graft, direct and indirect bribery, plunder, drug trafficking and amassing of illgotten wealth against her. The report was released in response to the findings released by the House committee on justice, twitter.com/ MlaStandard

which did not recommend charges againt De Lima after exposing her alleged role in the illegal drug trade in the New Bilibid Prison when she was still Justice secretary. The minority report said evidence arising from the four hearings and testimony of 22 inmates showed “probable cause” to warrant the prosecution of De Lima and other ofﬁcials. House Minority Leader Danilo Suarez said his bloc disagreed with the House justice commit-

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tee’s refusal to recommend the prosecution of De Lima and her criminal liabilities. House Deputy Minority Leader Harry Roque Jr. said recommending De Lima’s prosecution did not violate the separation of powers, because the legislature would merely urge or propose that the Justice Department prosecute De Lima. This, he said, did not overreach congressional jurisdiction or usurp a function that rightly belongs to the Justice Department. Next page

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SPEECH writer Nicole Cordoves of the Philippines almost clinched the Miss Grand International 2016 title before winning ﬁrst runner-up at the pageant’s coronation night on Tuesday (Wednesday in Manila) at the Westgate International Theater in Las Vegas, Next page Nevada.

Nicole Cordoves

Leila assails House report By Macon R. Araneta SENATOR Leila de Lima on Thursday dismissed the House minority bloc as “a company union” that had its own agenda in recommending the ﬁling of drug charges against her. She said the move by minority lawmakers to issue their own report after the House justice committee failed to recommend charges against her for her Next page

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Narita-Cebu ﬂights okayed T

HE Tourism department said Thursday it had clinched a deal that would further open Central Visayas to Japanese tourists.

Tourism Secretary Wanda Teo said she signed the deal allowing Vanilla Air to mount direct flights between Narita and Cebu in a meeting held at the Imperial Palace in Tokyo. Vanila Air is the first Japanese

carrier to fly directly from Tokyo to a destination outside Manila. “We are elated over Vanilla Air’s report that all seats on the Narita-Cebu flight are all sold out long before its launching on December 25, 2016,” Teo told

Vanilla Air president Katsuya Goto in a meeting during the last day of President Rodrigo Duterte’s working visit to Tokyo. “The entry of this first Japanese airline to provide nonstop services to Cebu is a welcome development since it has been branded as the vacation destination of Japanese tourists. “The new route would fulfill President Rodrigo Duterte’s vision to bring economic growth

and development to the Visayas by establishing Cebu as a major international gateway.” Teo also proposed to the lowcost Japanese carrier to explore the possibility of a Tokyo-Davao route via Cebu. “With Davao considered as little Tokyo, Vanilla Air is assured that consumer interest would be huge,” she said. Tourism Undersecretary Benito Bengzon Jr., who represents

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PH-US... From A1

In an economic forum in Tokyo, Duterte again declared his intent to expel US troops from the country over the next two years. The President also said that he was willing to scrap defense pacts with the country’s longtime ally if necessary. “I want, maybe in the next two years, my country free of the presence of foreign military troops,” Duterte told an economic forum in Tokyo, in a clear reference to US forces. “I want them out and if I have to revise or abrogate… executive agreements, I will,” he added. Earnest, however, said that despite his declarations, the US government has yet to receive any formal notification or communication from the Philippine government. “We’ve received no formal notification along those lines,” he said. “So that’s why the news that’s been made out of the Philippines I would classify as rhetoric at this point.” Earnest said Duterte’s statements were not indicative of the strong relationship between the US and the Philippines over the last 70 years. “It’s not indicative of the sevendecade-long alliance between our two countries. It’s not indicative of the deep cultural ties between our two countries, particularly given the sizable Filipino-American population in this country [America],” Earnest said.

Filipina... From A1

During the question-and-answer portion, the top five candidates were asked to choose between US presidential candi-

flights daily while Cebu Pacific flies four round-trip flights a week. The Tokyo (Narita)-Cebu route will have a market launch at the Shinjuku train station, which is known for having the busiest foot traffic in Tokyo. The Tourism Department’s Tokyo Office will also host a media and blogger familiarization trip to Cebu in February 2017. Sandy Araneta

547 rogue policemen charged; purge sought

De Lima... “Congress cannot close its eyes to the depth of depravity it had just uncovered at the NBP in the course of its legislative investigation,” the minority report said. “In fact, it may very well be argued that such a congressional recommendation is recognition of the constitutional provision that a public office is a public trust.” “Unfortunately, the committee on justice, in committee report no. 14, missed the opportunity to discharge the congressional sense of public accountability in the case of a public official embroiled in the drug trafficking scandal at the national penitentiary—Senator Leila de Lima—when it failed to recommend prosecution for her grave misdeeds in the discharge of her functions as secretary of Justice.” They said they found the panel’s committee report “baffling.” “The minority dissents as to the decision of the committee not to recommend the filing of applicable criminal cases against Senator Leila de Lima on allegations of her involvement with drug syndicates. The affidavits by several witnesses presented before the committee on justice are, in the view of the minority, sufficient to justify the filing of criminal charges against her,” the report said. “While the minority understands that these affidavits alone are not enough to convict any person under the law, they are fairly consistent in themselves, and reflect a criminal design that should suffice for purposes of establishing probable cause,” it added. Roque said any elective local or national official found to have benefited from the proceeds of the trafficking of dangerous drugs or have received any financial or material contributions or donations from natural or juridical persons found guilty of trafficking dangerous drugs, should be removed from office and perpetually disqualified from holding any elective or appointive positions in the government. With Maricel V. Cruz and Rey E. Requejo

the tourism chief at the Civil Aviation Board, assured Katsuya that he would help expedite Vanilla Air’s Foreign Carriers Air Permit, a prerequisite for all international air carriers planning to operate on a new route in a foreign country. Vanilla Air will be competing with Philippine Airlines between Cebu and Narita beginning Dec. 25, 2016. PAL operates two round-trip

Police mascot PO1 Bato joins the trick-or-treat party with 300 children taking part at the Multi-Purpose Hall of Camp Crame as part of the PNP Halloween program. Manny Palmero

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“Japan is the number one donor in terms of assistance and help including some of the vessels that have been shown here, especially the light ones, the rubber boats. It is for mobility. That’s what we need, not an aircraft carrier. You know, the Philippines is a group of... 7,048 islands all in all. We need the rubber boats to make patrols inland, including rivers,” Duterte said. He also said he would like two frigates similar to those being used by the Coast Guard for use by the Bureau of Customs. In September, Duterte announced that he would end joint military exercises with the United States. In October, he expressed openness to holding war games with China and Russia. While in Japan, however, Duterte was quick to explain that no military alliance with China was formed during his recently concluded four-day state visit there. Also on Thursday, Defense Undersecretary for Finance Raymundo Elefante said the five TC-90 surveillance aircraft that the Defense Department will lease from the Japan Maritime Self-Defense Forces will be stripped of their surveillance equipment before they are turned over to the Philippines. “Those things that you mentioned will be removed by them because it’s theirs. But we will be equipping the aircraft with our own surveillance equipment,” Elefante said. The light long-range patrol planes that would be leased for $7,000 each year will be used by the Philippine Navy to patrol the country’s maritime domain, especially in the disputed West Philippine Sea where China has been occupying areas within the Philippines’ exclusive economic zone. The aircraft are part of the JMSDF stock of older patrol planes. Elefante said the first delivery of two planes will be in March or April next year and the rest within the second quarter. He said a couple of Navy pilots will have to train first in Japan. The base of the aircraft would be at Sangley Point in Cavite, the home port of the Philippine Fleet. On Wednesday, Duterte and Abe signed agreements for the Philippines to acquire vessels and training aircraft from Japan. The vessels and patrol aircraft are expected to enhance the country’s security. The TC-90s will also likely be used for humanitarian assistance and disaster relief.

Baguio...

Before issuing their joint statements, the two leaders witnessed the signing of the Exchange of Notes on Japanese Official Development Assistance (ODA) Loan for the two large-scale patrol vessels for the Philippines. Duterte said he expected Japan to continue playing an important role in maritime security in the region, including the South China Sea, where Manila has territorial disputes with Beijing. Japan also intend to provide the Philippines with high-speed boats and other equipment as part of counter-terrorism measures. Japan also agreed to support infrastructure and agricultural promotion projects in the Philippines to help economic development. On Wednesday, Duterte underscored that stronger ties with Japan would continue to be a priority for the Philippines. “We look to Japan as a steady fulcrum in our regional engagement as the Philippines’ first and only bilateral free trade partner to date,” Duterte said. Duterte told an economic forum in Tokyo that his government was boosting investments in infrastructure and rural development as he urged Japanese businessmen to invest in the Philippines. At the Philippine Economic Forum organized by the Japan External Trade Organization and other groups, Trade and Industry Secretary Ramon Lopez also invited Japanese investment in information technology and business process outsourcing. Finance Secretary Carlos Dominguez told the same forum that the government was working to ease limits to foreign ownership of Philippine businesses. He said the economy could sustain economic growth of 7 percent or higher. “This is a fine time for looking at the Philippine economy as an investment destination. The bilateral relations between Japan and the Philippines has deepened, and we look forward to more intensive cooperation,” Dominguez said. “We look forward to investment inflows from Japan, especially those that will support strategic investments in the infrastructure and industry,” Dominguez added. Agriculture Secretary Emmanuel Piñol invited Japanese investors to the consider investing in rubber, fish and marine products, coconuts, and forest products such as wood and fiber. Charito Plaza, director general of the Philippine Economic Zone Authority, said Manila will explore new types of economic zones including a dedicated defense industrial zone. She said this could help the Philippines modernize its armed forces, improve its defense capability, and provide employment.

Miss Australia was first runner-up, Miss Indonesia second runner-up, Miss Nicaragua third runner-up, and Miss USA was fourth runner-up. Miss International 2015 Edymar Martínez of Venezuela relinquished the crown at the end of the competition. Versoza is the sixth Filipina to win the crown after Bea Santiago (2013), Precious Lara Quigaman (2005), Mimilanie Marquez

(1979), Aurora Pijuan (1970) and Gemma Teresa Cruz (1964). “Three things come to mind when I think of Miss International: Culture, education and international understanding,” Versoza said in her speech. “These three work together to make the Miss International beauty pageant brand relevant to the global community.” The five-foot-nine Verzosa had previously said she would work for international cultural understanding in case she won the title. “I believe that developing in

each of us the sensitivity to other cultures would expand horizons, tolerate difference and appreciate diversity,” she said. All of these will enable us achieve international understanding.” Verzosa first participated in the Miss Philippines contest in 2015, when she placed in the Top 15. She again joined the Miss Philippines contest the following year and was crowned Miss Philippines International 2016, earning her the right to represent the country at the 56th edition of the Miss International beauty pageant.

dates Donald Trump and Hillary Clinton for help in stopping war and violence. Cordoves chose Trump and got booed by the audience. But amid the jeers the 24-yearold beauty queen continued: “What if we use his voice to

actually do good for the world? What if we use that to our advantage? That’s why let’s keep the peace and let Donald Trump switch to our side to stop the war and violence.” Only Cordoves and Miss USA Michelle Leon chose Trump and

both were booed by the audience, while the candidates from Puerto Rico, Thailand and Indonesia chose Clinton. Miss Indonesia Ariska Putri Pertiw won the title while Miss USA placed third. Nickie Wang

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SENATOR Grace Poe on Thursday asked the Internal Affairs Service of the Philippine National Police to investigate the policemen linked to illegal activities in a drive to cleanse the police force. “We must ensure that we have a highly efficient and competent police force with the primary duty to protect the people,” Poe said. “Rogue policemen have no place in the PNP.” Poe said appropriate charges should be filed against the scalawags in the police service. The PNP has so far conducted 1,261 investigations on the deaths of illegal drug pushers and users during police operations. Of that number, Poe said, 547 policemen had been charged with administrative complaints, 356 investigations were still pending, 27 policemen had so far been terminated, 302 cases had been dropped and closed, 28 were submitted for summary hearing proceedings, and one

was submitted to disciplinary authorities. Of the more than 159,000 policemen tested for illegal drugs, 164 had tested positive for illegal drug use. Chief Supt. Leo Angelo Leuterio said last month they could not say when the cases against the policemen would be resolved. But Interior Secretary Ismael Sueño on Tuesday urged a speedy investigation to rid the agency of scalawags and address the irregularities within the force. PNP Chief Ronald dela Rosa earlier said he was open to Poe’s suggestion to appoint a civilian head of the IAS as mandated by law. Poe had filed Senate Bill 868 that seeks to form an independent institutional watchdog for the police service and Senate Resolution 70 to look into the continued non-implementation of RA 8551 as regards the PNPIAS. Macon Ramos-Araneta

Du30...

being largely stripped of its mystique and quasi-divine status in the aftermath of World War II. Most Japanese bow when meeting the emperor, though foreigners generally shake his hand. “Why did you put your hands in your pockets and chew gum in front of President Xi Jinping?” asked Kunihiko Miyake, a former diplomat, in a column published in the conservative Sankei Shimbun on Thursday. “Some see them as simple rudeness but I suspect these are also performances,” he added, noting Duterte’s privileged upbringing—his father was a lawyer and his mother a teacher— while the President himself is a one-time prosecutor. Former defense minister Itsunori Onodera said on Fuji TV on Sunday that how Duterte behaves when meeting Akihito could even impact on the two countries’ relationship. “I hope the Philippine side will remind him of that point,” Onodera said. Social media users also expressed concern. “Is it going to be all right?,” one Twitter user wondered. “I hope he won’t chew gum like he did in China.” “Duterte, I beg you, please behave well at least in front of the emperor,” said another Twitter post. But Seiichi Igarashi, associate professor of international politics at Chiba University, said Duterte was unlikely to be rude. “It’s hard to predict what he’s going to say... But he says he’s pro-Japanese and he hasn’t made any hostile remarks against Japan,” Igarashi said. Sandy Araneta with AFP

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modern Japan and not possible under current law. The remaining four male heirs include 10-year-old Prince Hisahito, the emperor’s only grandson. The three older heirs are Akihito’s 80-year-old brother and his two middle-aged sons including Crown Prince Naruhito. Earlier, the protocol-conscious Japanese were on faux pas alert for Duterte’s meeting with Emperor Akihito, the nation’s most revered figure. Duterte, who has made a habit of hurling sharp, even profane, insults at world figures, was on his first visit as president to Japan, a nation perhaps known more than any other for politeness and strict codes of conduct. Concerns about Duterte’s behavior during his trip spiked after a video of him in China last week meeting with President Xi Jinping showed him apparently chewing gum—considered rude in Japan for such an occasion. He was also seen standing at the event with his hands in his pockets, another no-no. Since arriving in Tokyo on Tuesday, Duterte has avoided any major trouble, though he has kept up a barrage of insults against Washington. Still, a summit meeting with Prime Minister Shinzo Abe on Wednesday went off without a hitch. But as the trip approached its end, some Japanese were worried Duterte would offend the deeply respected figurehead. Japan’s emperors were once worshipped as living demigods and the throne is still venerated by much of the public, despite

Leila... From A1

alleged role in the illegal drug trade in the national penitentiary showed how passionate they were in vilifying her. Some of the opposition congressmen easily believed the lies of the drug convicts, who testified against her during the House probe, she said. “And they did not bother at all to really probe seriously into the apparent inconsistencies and selfcontradictory points in the testimonies of some of them,” she said. “They hear only what they want to hear. They hear only what the President is claiming that I am to be blamed for the illegal drug trade,” she added. She merely shrugged off and taunted the so-called minority for pretending to be the opposition.

“It’s not a genuine opposition. It works like a company union,” she said. She said the real opposition in the House is the group led by Albay Rep. Edcel Lagman. It was the minority bloc led by Quezon Rep. Danilo Suarez that came up with its own report, recommending the filing of criminal charges against De Lima for her alleged involvement in the illegal drug trade at the NBP. She accused former President and now House Deputy Speaker Gloria Macapagal-Arroyo and her allies of orming an alliance with the President along with what she described as “PDAF senators” to destroy her. The President, De Lima said, has had a personal vendetta against her since 2009. When Duterte became President, De Lima said, he then had the chance to get back at her.

News IN BRIEF De Lima wants probe on deals with Sino firms By Macon Araneta SENATOR Leila de Lima said she is drafting a resolution for a Senate inquiry on the government’s impending deals with Chinese firms that have history of fraud. “It’s a work in progress, but we hope to file it by next week,” De Lima said. De Lima said the inquiry aims to find out whether the projects would entail “tied loans” where contractors choose predetermined suppliers without public bidding. “We expect these [projects] to be foreign-funded by China, and most likely the contractors and suppliers in these projects would also be Chinese firms. So these could involve tied loans,” she said. “We have to scrutinize that,” added the former Justice secretary. Subsidiaries of the China Communication Construction Co., a firm barred by the World Bank for fraudulent practices in 2011, have taken initial steps toward securing contracts for major infrastructure projects under the Duterte administration.

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Minority agrees to Con-Ass, vows to lift term limits By Christine F. Herrera

HE minority bloc on Thursday agreed to constitute Congress into a Constituent Assembly to overhaul the 1987 Constitution and vowed to push for the lifting of term limits of the President and congressmen.

In a news conference, House Minority Leader Danilo Suarez said they wanted the President to have a four-year-term and another reelection or a total of eight years as against the present single six-year-term.

They also wanted the congressmen to have four years instead of three for each of three allowable terms or a total of 12 years. Suarez said the six years for the President and three years

with two reelections for congressmen seemed not enough to carry out reforms. Suarez said the minority bloc was amenable to the major revisions of the Charter’s economic provisions. Topping their list were the lifting of the protectionist 60-40 provision in foreigners owning the lands and the media outfits being owned by foreigners. “We need investments and big foreign companies can provide the fresh capital that would bring more jobs to Filipinos,” Suarez said. But House Deputy Minority

Leader Harry Roque Jr. said he would still prefer Constitutional Convention to be the mode in amending the Constitution. Roque also warned that once the Con-Ass was constituted, Congress would cease to function as a legislature. “Our legislative priorities will take a backseat once Con-Ass is in place. The assembly will do nothing but make amendments. All bills and resolutions will no longer be tackled because there will be no more time to do that. That is my foremost apprehension about the Con-Ass,” Roque said. Ako Bicol Party-list Rep. Ro-

del Batocabe said he was apprehensive about President Rodrigo Duterte’s pronouncement he would have the party-list system abolished as some groups were not as marginalized as mandated by the Constitution. There are 56 seats being held by party-list groups with Ako Bicol, Gabriela, Kabayan, Buhay, Bayan Muna, ACT Teachers and 1Pacman having obtained two seats each. Suarez said while some of the 18 members of the minority bloc were not all-out for the ConAss, the minority leader said the bloc will be solid once plenary debates began on the issue.

CLUTCHED FIST. With a bolowielding statue of a Katipunero as background near Manila’s City Hall, indigenous peoples raise their clenched ﬁsts before they march Thursday to the US Embassy in the capital, but were held off by police 500 meters on. They are protesting against American mining and agribusiness since it undermines the lives of minority groups. Norman Cruz

MIAA raises alarm against ‘salisi gang’ By Joel E. Zurbano THE Manila International Airport Authority on Thursday cautioned all travelers to be aware of the presence of members of a so-called “salisi gang” and other unscrupulous individuals at the airport victimizing unsuspecting passengers. MIAA general manager Eddie Monreal made the warning after Makoto Hasegawa, a Japanese national, lost his hand-carry at Naia Terminal 2 on Wednesday. Hasegawa said his bag contained US dollars and Japanese yen equivalent to P170,000; three different credit cards, a Canon camera and his return ticket to Japan. Last month, an overseas Filipino worker lost her bag while having lunch at Naia Terminal 3.

3,000 police, enforcers for ‘Undas’ in QC By Rio N. Araja THE Quezon City government will field over 3,000 policemen, traffic enforcers, barangay watchmen and security guards to ensure public order and safety in public and private cemeteries, columbaria, and bus terminals during the All Saints’ and All Souls’ weekend. Mayor Herbert Bautista tasked all concerned departments and offices, in coordination with the Quezon City Police District, Department of Public Order and Safety, Barangay Operations Center and Civil Registry Office, to be ready for the observance of Undas.

Sandiganbayan skeds plunder trial vs Revilla Community By Maricel V. Cruz THE Sandiganbayan First Division has scheduled the trial proper of detained Senator Ramon Revilla Jr.’s plunder case on Jan. 12, 2017, or two years since it was ﬁled before the anti-graft court. The anti-graft court said this would continue every Thursday and would be held twice a day or during morning and afternoon sessions. The Sandiganbayan First Division ﬁnished the pre-trial on Revilla’s plunder case after wrapping up the marking of documentary evidence and the list of witnesses to be presented by defense and prosecution panels.

But the two panels have yet to ﬁnish their pre-trial on Revilla’s 16 counts of graft cases. In another decision, the Sandiganbayan First Division ordered the 90-day preventive suspension of North Cotabato Gov. Emmylou Taliño-Mendoza in connection with her graft case that stemmed from questionable diesel purchase from her mother’s gas station. The order was sent to the Department of the Interior and Local Government for implementation. Taliño-Mendoza, who has posted P90,000 bail for her temporary liberty, is facing trial in connection with her alleged anomalous 49,526.72 liters diesel‎ procurement worth P2.4

million in 2010 from the Taliño Shell Station owned by her mother. The anti-graft division also issued a hold departure order against her. She was accused of v‎ iolating Section 3 (e) of Republic Act 3019 or.the Anti-Graft and Corrupt Practices Act. Revilla has been detained at the Philippine National Police Custodial Center at Camp Crame in Quezon City. He was accused of pocketing P224 million in commissions and kickbacks for allegedly downloading his pork barrel funds to bogus non-government organizations of alleged pork barrel scam mastermind Janet Lim Napoles.

Recto appeals for IRR release of PWD law By Macon Ramos-Araneta SENATE Minority Leader Ralph Recto on Thursday said Republic Act 10754, which grants persons with disabilities goods discounts and tax breaks, remains in limbo after the Implementing Rules and Regulations have thus far been not issued by a multi-agency body

drafting it. Recto, one of the bill’s authors, said RA 10754 was signed into law seven months ago. Despite the delay, the senaor said he is not yet giving in to “conspiracy theory” the IRR is being deliberately withheld due to the plan of the government’s economic managers to repeal all tax discounts of PWDs.

“I cling to the belief the better angels of man’s nature will prevail in the end. That compassion would triumph over cold ﬁscal numbers,” Recto said. “I appeal once again to our friends in the executive that the IRR of Republic Act 10754 be released soon. It’s the missing link in its full implementation,” he added.

Carpio changes heart, wants Dubria to stay By Pearl Gajunera

SHOPPERS PARADISE. The Tutuban Center in Manila’s Divisopria district, known by many as a bargain hunters’ paradise, has unveiled new and exciting features to pump up shoppers’ shopping experience. Ey Acasio

DAVAO City—Mayor Sara Duterte-Carpio has changed her heart on the relief of Davao City Police Ofﬁce Director Sr. Supt. Michael John Dubria. Duterte said she had reconsidered the transfer of Dubria to another post and wanted him to feel the pain she felt every single day, due to the Sept. 2 bombing in this city which killed 15 people and wounded at least 70 others. “I have reconsidered my earlier decision, I now want him to stay,” she said. On Thursday, PNP Director Ronald dela Rosa submitted a short list of the possible new DCPO directors from which the mayor may choose the replace-

ment of Dubria whom she earlier requested relieved from his post. Considered to replace him were Sr. Supt. Antonio Yarra, Sr. Supt. Albert Ocon and Sr. Supt. Milo Pagtalunan. But Duterte suddenly changed her heart and disregarded her earlier decision to let Dubria go. “It will be easy for him to transfer to another post and forget what happened the night of Sept. 2, 2016 in Davao City. But, after careful thought, I want him to stay and feel the pain I feel every day. A new city director would not understand this feeling,” she said. Dubria’s relief was delayed because Dela Rosa failed to immediately submit the list for Dubria’s possible replacement.

service for minors okd By Maricel V. Cruz

THE House of Representatives has approved on third and ﬁnal reading a bill seeking to impose the penalty of community service, in lieu of imprisonment, for violations punishable with arresto menor on lesser crimes, such as alarm and scandal, slight physical injuries, and theft, among others. House Bill 335 was earlier approved and endorsed for plenary approval by the committee on revision of laws chaired by Pangasinan Rep. Marlyn Primicias-Agabas, also author of the measure. The House unanimously approved the measure before Congress adjourned. Under the law, the duration of penalty for arresto menor is one day minimum and 30 days maximum imprisonment. Once enacted, HB 335 seeks to amend Article 88, Chapter 5, Title 3 Book I of Act 3815, or the Revised Penal Code, as amended. This particular section imposes arresto menor on lesser crimes such as alarm and scandal, slight physical injuries, theft of things less than P500 pesos, deceit, malicious mischief where value is less than P200, and imprudence and negligence constituting light felon. Agabas, one of the authors, said such offenses might still be corrected through restorative justice, a system of criminal justice where offenders are encouraged to undergo cooperative processes that may aid in their transformation and reformation, and eventually bring them back to the fold of the law and the community. Agabas said through her proposal, jails and penitentiaries would be greatly decongested, and money would be saved for other, more practical purposes.

Opinion

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Adelle Chua, Editor

EDITORIAL

Anti-business

RESIDENT Rodrigo Duterte is the antithesis of a pitchman out to convince foreign businessmen to bet their luck on the Philippines. Instead of pleading the case of the Philippines as a worthy investment site and comparable with other destinations in Asia, Mr. Duterte does the opposite—he scares away potential investors with his arrogance and reckless statements.

Mr. Duterte on Tuesday urged foreign businesses in the Philippines worried about his deadly war on drugs to pack up and

leave, as he launched another anti-American tirade before flying to Japan to attract investments. He voiced outrage at comments

the previous day by the top US envoy to Asia that his fiery rhetoric and crime war, which has claimed about 3,700 lives in four months, were bad for business. US Assistant Secretary of State Daniel Russel merely aired the sentiments of many people around the world about Mr. Duterte’s tirades during his meeting Monday with Foreign Secretary Perfecto Yasay Jr.

Mr. Russel’s statement was an expression of concern that should be appreciated in the face of Mr. Duterte’s out-ofcontrol diatribes. The succession of controversial statements, comments and a real climate of uncertainty about the Philippines’ intentions, according to the US diplomat, had created consternation in a number of countries. “Not only in mine

and not only among governments, but also growing concern in other communities, in the expat Filipino community, in corporate boardrooms as well,” says Russel. Finance Secretary Carlos Dominguez, meanwhile, was more circumspect about Mr. Duterte’s rants. He conceded that some investors, including those in the outsourcing industry, were nervous with

the new administration and its approach to diplomacy. The finance chief promised to do “rational things that are to their benefit.” Mr. Dominguez clearly is aware of the ramifications of Mr. Duterte’s thoughtless remarks. You drive away foreign investors, major and minor ones, and you will lose the opportunity to create more jobs and reduce poverty. VIRTUAL REALITY TONY LOPEZ

The Philippines got less

Sic transit Leila LOWDOWN

JOJO A. ROBLES EVERYONE knows that Leila de Lima was Noynoy Aquino’s “sweetie,” at least as far as pursuing his personal and political vendettas was concerned. Now Leila is proving that Noynoy’s love for her is not unrequited, because she’s begun aping his attitude of always blaming somebody else when he gets into trouble. De Lima has apparently tired of playing the gender card to explain her victimhood. Her latest version of why she is being pursued by the Duterte administration is because—drum roll, please—Gloria Macapagal Arroyo said so. According to De Lima, President Rodrigo Duterte has allied himself with Arroyo, some senators involved in the pork barrel scandal and various other enemies of hers. These people, she said, have convinced Duterte

to undermine her because she “stepped on their toes” even if she was just doing her job as justice secretary. This latest explanation from De Lima is problematic on several levels. The first being that Duterte, who has known and clashed with De Lima even before she became Aquino’s all-powerful legal attack dog, doesn’t need anyone to convince him to go after the senator. Duterte, by his own and frequent admission, has been feuding with De Lima ever since she was working for Arroyo as chairman of the Commission on Human Rights. And while it’s true that Duterte has accused De Lima of “kidnapping” Arroyo at the Manila airport in 2011 in defiance of a Supreme Court order, he really needed no further prodding than the senator’s ill-prepared investigation into extrajudicial killings under the new president. If Duterte can launch repeated verbal attacks on the US, the United Nations and the European Union because he feels they

have treated him unfairly in their own assessments of his antidrug campaign, I’m sure he has enough motivation to threaten that De Lima will “rot in jail” for

the English would say, bringing coals to Newcastle. To my mind, the only involvement of Arroyo in the long-running Duterte-De Lima war is the former president’s appointment of a little-known election lawyer from Iriga City to the top post at the CHR. And if De Lima was unable to prove Duterte’s links The only to the so-called Davao Death Squad back then, when it was involvement her main job to do so, it should of Arroyo in surprise no one that she is still unable to do so now, as a senator. the Duterte-De Blaming Arroyo is so last administration. And no one needs Lima war is her to be reminded that De Lima is appointment of working under the assumption that Aquino is still in Malacañang, a little-known the way she’s been making accuthat she can hardly prove. election lawyer to sations But what’s really bothersome the CHR. to me is that, apart from making blanket denials about her alleged involvement in the illegal drug trade inside the New Bilibid Prison and blaming outside inflicting Edgar Matobato on the agencies for her problems, De nation. Blaming Arroyo for her Lima has never really confronted troubles with Duterte is like, as the charges against her directly.

And many people still remember how she dared her accusers in the House to make high-profile inmate Jaybee Sebastian testify so that she may be exonerated— only to witness Sebastian hurl the same (and even worse) accusations against her when he did. Instead of blaming Gloria or posing on her knees at mass, I think De Lima would be better off refuting the serious charges thrown at her with evidence of her own to the contrary. Unless, like Gloria, she intends to spend the rest of the incumbent president’s term in jail. Given that those charges have now been properly filed before the same DoJ that she once led, instead of merely in the House, that possibility seems to have become deliciously and ironically inevitable. Sic transit Leila mundi. ***

They say you can catch more flies with honey than with vinegar. That seems to be the new strategy of both China and Japan as far as the Philippines and its new leader Turn to A5

PRESIDENT Duterte’s fourday (Oct. 18 to 21) state visit to China generated $24 billion worth of investments ($15 billion) and credit facilities ($9 billion), said Malacañang. These investments and credit facilities cut across different industries, such as agriculture, renewable energy, tourism, food, manufacturing, telecommunications, infrastructure among others. Trade Secretary Ramon Lopez said “more than two million jobs over a period of five years are expected to be generated with these investments and credit facilities by China.” Still, Bangladesh, a less strategic country than the Philippines got $40 billion (in loans, mostly) when China President Xi went to Dhaka, the week of October 14. Xi was the first Chinese head of state in 30 years to visit Bangladesh. China is boosting Bangladesh infra with oodles of cash. So did Duterte get small change during his China visit? Please note that the President went to Beijing promising not to take up the Philippine victory before the International Arbitral Court last July which rejected Beijing claims of territorial sovereignty over 90 percent of the South China Sea. Duterte also did not get pronto a Chinese commitment to allow Filipino fishermen in the Scarborough Shoal which is now occupied by the Chinese and is planned to be converted into a reclaimed military fortification. Scarborough is 1,000 miles from China’s southernmost province Hainan and just 120 miles from Philippine territory which makes it part of Manila’s 200-mile Exclusive Economic Zone. Duterte has promised to boot out American troops within two years from the Philippines. This is good news for China because US soldiers based in the Philippines monitor Chinese militarization of the South China Sea. For all those strategic concessions by Duterte, he got just $24 billion and Bangladesh, which faces the Bay of Bengal, got almost double that, at $40 billion, much of it going to specific projects with detailed project studies. In Bangladesh, the Chinese are financing at least 21 projects in communication, Turn to A5

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Opinion FR. RANHILIO CALLANGAN AQUINO

I EARLIER wrote about the takes on the emaciated form of imperiousness of regulatory a mere mechanical repetition of agencies in Philippine educa- the past, or an institutionalization. And by virtue of a memo- tion of practice, no matter that randum order, the Commission the practice is successful beon Higher Education has all but cause of hardly anything more made “outcomes-based educa- than unadulterated serendipity! It is the same thing with relytion” the mandatory paradigm for all of higher education in the ing on what industry, business Philippines, state or privately and government announce to be administered. Colleges and uni- “needs.” Industry needs things versities are directed to formulate done efficiently—but the history their institutional and program of science has been largely the outcomes. Syllabi, it is decreed, history of “inefficient” ventures have to be written out accord- leading to abstract conclusions ing to the dictates of the OBE with immensely practical consescheme. Not that I am against the quences. In a stirring report on paradigm. I have in fact actively knowledge, the French thinker and whole-heartedly endorsed it Francois Lyotard insists that the also for legal and judicial educa- promise of learning consists not tion. But the problem that lead- in the accumulation of data— ing educators like Fr. Joel Tabora, which computers can do with SJ, new president of the powerful better efficiency—but with the Catholic Educational Association “combinatorial” capacities that of the Philippines, have with it is produce new and bold constelnot so much the paradigm but the lations of thought that can only way regulatory agencies wield it be attributed to the unfettered to—its critics decry—surrepti- human spirit. If OBE fetters the tiously erode academic freedom. mind to what has proved useOutcomes-based education ful, then it is the biggest threat rests on the very useful insight to education that there is, but if that rather than targeting what it calls on formal education to the teacher or the educator thinks raise the questions that beset somust be passed on, outcomes first ciety, to desist from sterile exercises and to pay be envisioned. What does an heed to matters accountant need that, though abstract, underlie to know, to be concrete able to do, and That is exactly very problems and to value? What issues, then are the skills, what we must OBE holds trecompetencies mendous promand attitudinal guard against: ise for Philipdispositions that A detrimental pine education. are demanded In the case of a success- hermeneutic of legal educaful teacher, ention, it has been gineer, social of “need” and my complaint worker, nurse, “demand.” that one good physician? sign of the deO b v i o u s l y, this way of terioration of t h i n k i n g legal education of things is one determined will not be dismal Bar Examinaattempt at addressing the oft- tion results (to which I pay very repeated complaint that there is little attention), but to the fact a disadvantageous disconnect that even freshman law students between the classroom and the busy themselves “highlighting” work-place. What good is a nurse (that means: using a highlighter) who has met all the objectives of reviewers and memory guides the course but is virtually lost and rather than poring over treatises, clueless in a rural hospital? How articles and scholarly expositions helpful to society is the graduate of various legal themes. There is of entrepreneurship who might nothing “grand” about this, hardhave completed all objectives ly anything ennobling about it. and met all targets set for each This is the kind of legal education subject of her program but is that allows a student to rattle off really unable to gain a toehold provisions of the Civil Code, but in the immensely competitive that make of the recondite discusworld even of small industry? sions of the likes of Diez-Picazo, OBE’s solution is: Think in Planiol, Castan (and, to refer the reverse— that is: Ask what to one who used to be on every it is that industry, the work- Filipino legal scholar’s mind— place, society and employment Manressa) and, on the American possibilities need and then work side, Corbin and others like him one’s way backwards towards strange and forbidding territory. planning a responsive curriculum Certainly, the bi-pedal data-base and on effective delivery methods of laws and rules is no desirable and schemes. It then follows that outcome of legal education. There are many who dismiss crucial to OBE is evaluation: Does the product of the scheme exhibit OBE as just one more of the “exthe competencies that industry, periments” foisted on higher education institutions by the present business, society demand? And that is exactly what we crop of regulators. That may well must guard against: A detrimen- be the case. After all, we have had tal hermeneutic of “need” and a plethora of experiments before — “demand”. We need pilots who all to pass with the passing of terms fly planes safely, efficiently and of office. But if it is to leave a lastexpertly. But do we also need ing, salutary mark on Philippine them to know all the physics education and to fulfill the promand the mathematics involved? ise it has held out, then we must be A perverse version of OBE will more thoughtful about what “outassert: No, keep to the “useful,” comes” are and how they we find keep to the “necessary.” But out what they ought to be! that is exactly where the perversity lies, for if by “necessary” or rannie_aquino@sanbeda.edu.ph “useful,” one means keeping to rannie_aquino@csu.edu.ph established practice, education rannie_aquino@yahoo.com

Sic transit... From A4 is concerned. An article in Forbes magazine written by Ralph Jennings predicts that Japan will go into a bidding war to become President Rodrigo Duterte’s and the Philippines’ new BFF. According to the article, Japan will not allow China to be Duterte’s only favored neighbor because it “wants to keep up ties with the fellow democratic Asian country and traditional US ally [as] a measure to resist Chinese expansion” in the region. After securing pledges worth $24 billion from China involving $9 billion in soft loans and $15 billion in economic deals, Jennings wrote, “Duterte is on a diplomacy roll and maybe a bank roll, too.” Japan, which Duterte visited shortly

after going to China, is expected to follow suit. “But can Tokyo match Beijing’s aid and economic development offer to the largely impoverished Southeast Asian country? The answer is yes and probably exceed it. Japan already helps economically through a diverse slew of channels, from aquaculture to patrol ships. It shows all signs of continuing to support the Philippines just as it does with much of developing Southeast Asia. That support effectively counters China’s efforts to win favor with the same countries through its own brand of economic aid.” It’s certainly good to be wanted and pursued, especially after being taken for granted as a mere American vassal by our neighbors. And those who warned that turning away from the US would spell disaster must certainly be crying into their Spam right now.

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All not calm in Panatag

PENSEES

The enchantment with outcomes

FRIDAY, OCTOBER 28, 2016

BACK CHANNEL ALEJANDRO DEL ROSARIO SOME little known facts are emerging from President Rodrigo Duterte’s four-day state visit to China. While the fruits of the visit like loans, grants and multi-million dollar deals between Filipino and Chinese firms were proudly announced by the Palace communications team, other vital information were withheld. Some who were part of the 400-member Philippine delegation revealed information Malacañang officials did not want the Filipino people to know. For example, to President Duterte’s credit, he didn’t accept the wording of the Chinese side statement “to allow or permit” Filipino fishermen to return to Panatag (Scarborough) Shoal to ply their trade. The word “Panatag” means calm in the Filipino language. At least, Duterte this time listened to the advice of Department of Foreign Affairs officials in the delegation that to do so would be to recognize China’s sovereign rights to the disputed body of water. This is au contraire to the ruling of the Permanent Court of Arbitration in The Hague which rejected the Chinese claim to nearly 90 percent of the South China Sea. The PCA is a UN in-

ternational tribunal implementing the United Nations Convention on the Law of the Sea. In my column last week, we pointed out the peril of this diplomatic nuance of asking China to allow our fishermen back in Panatag Shoal. Known internationally as Scarborough Shoal, Chinese gunboats using intimidation seized the shoal in April 2012 and drove away Filipino fishermen. So everything was not smooth-sailing in Duterte’s pivot to China at the expense of longtime ally America. Rep. Harry Roque, former Manila Standard columnist with the delegation leaked out this snippet of information that everything was not totally hunky-dory in the China visit. Other bad news from some members of the official delegation showed some of the Chinese companies that inked agreements with Filipino firms were undercapitalized and a few had questionable track records of doing business in the Philippines. President Duterte tried to keep a lid in this kink in the negotiation with the Chinese by simply telling Fishermen to be patient and they will be able to return to Panatag Shoal. But when? The fishermen and their families living off the coast of Zambales are already starving since they were blocked from sailing to the shoal where they traditionally fish. A huge catch before the Chinese

came would net the Filipino fishermen at least P3,000 a day. But now confined to nearer the shore of Bajo Masinloc, they are lucky to earn P300 to P500 a day—not even enough for the fuel used in their pump boats. “I’m not a ‘tuta’ [lackey or lap dog] of anyone,” Digong staunchly proclaimed when criticized for cozying up to China. It’s all in the course of pursuing an independent foreign policy, he said even as he met with Prime Minister Shinzo Abe on a three-day visit to Tokyo. Japan has been providing the Philippines with several patrol boats to beef up its maritime security against Chinese encroachment in the West Philippine Sea.. For sure the Chinese are not going to like this. Japan, which occupied China during World War II, has a territorial dispute with China on the Senkaku/Diaoyu Island in the East China Sea. The Japanese have occupied the island much to the ire of the Chinese who claim it as their own . Beijing’s problem is that unlike a small country like the Philippines, Japan with its technological advance, can unleash missiles if China tries to bully it. Japan is already pissed that North Korea, a known Chinese ally, is firing rockets and missiles in the direction of Japan although their inferior weapons either intentionally or not, fell short of or overshot their target.

And Duterte wants to purchase weapons from China? He should read the authoritative Jane’s book on weaponry that reported about two Chinese-made missiles bought by Indonesia which fell short of its target while the other one exploded on board an Indon ship. These are facts, not rumors. China is the midst of an international public relations blitz. Filipino journalists are being invited to Beijing and other major Chinese cities to spread the good word about a rising China. You will know them when they come back and write glowing articles on China’s progress. Nobody invited to China has written about China’s repression of its people, the pollution and the toxic products dumped in the Philippines. Bloomberg news, on the other hand, reported about thousands of wealthy Chinese leaving China to give their children a better education. Favored destinations by the disillusioned Chinese migrants are Vancouver, Toronto and US West Coast cities like San Diego, Los Angeles, San Francisco, Portland and Seattle. For a $600,000 investment, Chinese businessmen in two years are given a green card or a residence visa. The only requirement is that the investors put their money in an area that has not drawn interest and the Chinese company employs at least three or six Americans.

Pensions made in USA and Japan FILIPINO PENSIONER HORACE TEMPLO IT’S EVIDENT that the pension systems of our uniformed personnel and civil servants are legacies to us of our American colonizers from their almost half-century of rule of our country, which they acquired questionably from Spain for $20 million under the Treaty of Paris on Dec. 10, 1898. But, as stated by General Antonio Luna, “people are not to be bought and sold like horses and houses.” Thus, we went to war against the Americans from Feb. 4, 1899 until our defeat on July 2, 1902. They eventually granted our independence on July 4, 1946 and it would be our Congress that would establish, eight years after, the Social Security System and its pension system for private sector workers. In fact, it was only on Aug. 14, 1935 when the Americans established their own social security program to limit the “dangers in the modern American life, including old age, poverty, unemployment, and the burdens of widows and fatherless children.” Our Commonwealth’s first president Manuel Quezon must have also wanted the same heavenly program for our countrymen, but for fear of its hellish financial cost, he didn’t initiate it. After the Second World War, a bolder President Sergio Osmeña would declare that a simi-

The... From A4 power, fuel, information technology, industries and development of living standards. Included are four projects each on railways and road transport and power sectors, five on improving standard of life, two on industries, and one each on fuel and Industrial Chemical Technologies. Chinese loans will finance the Padma Bridge rail link project is $2.57 billion, Dhaka— Chittagong railway project $3.03 billion, Dhaka—Ashulia elevated expressway $1.39 billion, Sitakunda—Cox’s Bazar marine drive expressway and coastal protection project $2.85 billion and four—lane Dhaka—Sylhet highway project $1.6 billion. China will likely finance also $1-billion digital connectivity. In the case of Duterte’s China visit, rice tycoon Henry Lim Bon Liong said the $24 billion in Chinese loans and investments “is only the tip of the iceberg. There are many more deals under negotiations.” Lim said eventually, Chinese investments could easily rise to $50 billion in the coming years. The Inquirer showed 17 deals

lar scheme must be provided for “the Filipino, who works in the factory or who tills the soil.” Accordingly, he recommended its establishment to Congress, which promptly passed a joint resolution creating the Social Security Commission “to undertake a comprehensive survey of the most progressive social security legislation created in all democratic countries.” Of course, Congress referred only to the USA, Australia, New Zealand and European countries, but not to Japan even if it had also enacted its own national pension scheme during WWII. After the grant by the Americans of our political independence, several social security bills were filed in Congress. President Manuel Roxas supported them strongly. But the American Chamber of Commerce opposed these initiatives, and even declared that their enactment “might easily impose a presently unbearable burden on economic enterprise.” Obviously, American businessmen wanted to show that we were still their dependents economically. Worse, they made it clear that while social security had been an effective welfare program for their countrymen, it was not suitable for us. In truth, social security was bad for their business in the Philippines. President Elpidio Quirino pursued the passage of a social security law, and even called a special session of Congress to accelerate it. But for real and make-believe reasons that employers raised—such as lack of actuarial studies—nothing

much prospered. All he got was another study commission to further refine the proposed legislation with technical assistance from Maurice Stack, the British chief actuary of the International Labor Office. And soon after the election of President Ramon Magsaysay, Republic Act 1161 or the Social Security Act of 1954 was approved on June 18, 1954. It could have established a universal pension scheme and unemployment insurance for all public and private sector workers but its implementation was opposed inexplicably by employer groups and labor unions. Eventually, a compromise watered-down RA 1792 was approved on June 21, 1957 and, sadly, it no longer included unemployment insurance. Seventy years after we’ve been granted political independence by the Americans, we still maintain the pension legacy features of the USA. Remember the Japanese occupation of our country from May 8, 1942 to July 5, 1945? We, baby boomers and younger generations, never experienced it, and we sometimes wonder: had this relatively short-lived period lasted longer, could we have adopted more Japanese traits and culture including some features of their pension system? It was only in 1942 when the Japanese enacted their national pension system, and it was to accommodate mainly the cost of war and encourage workers to raise their productivity. But since then, they had amended substantially their pension system, and made its cover-

age universal in 1961. Their national pension system now consists of a flat-rate benefit plus an earnings-related benefit, funded by 17.474 percent of salary that employees and employers share equally. The maximum monthly salary credit is equivalent to P285,672.50, which is fantastically high compared to the P16,000 of SSS. Of course, the contributions of the Government Service Insurance System are higher than these rates. Incidentally, our de facto national pension system now resembles the Japanese system. Aside from our salary creditbased pensions from SSS and other public pension funds, we also have now a P500 social pension for indigent senior citizens. In contrast, however, one who receives a regular pension is no longer qualified to receive a social pension. Like the Americans, the Japanese adjust annually their pensions automatically based on changes in the cost of living but they adjust their maximum salary credit on an ad hoc basis according to the increase in the national average wage. President Digong Duterte and his Cabinet secretaries have been in Japan in the past three days, and we are sure that they had ingested enough sashimi, sushi and sake. We just hope that they had also imbibed the two simple but pragmatic Japanese ways of adjusting annually social security pensions and contributions. They could then apply them in reforming immediately our national pension system.

with a combined value of $11.24 billion were signed October 20 evening at an event organized by the Philippine Chamber of Commerce and Industry and the Federation of Filipino Chinese Chambers of Commerce. Mining firm Global Ferronickel signed a $500-$700 million deal with Baiyin International Investment Ltd. to construct a steel plant, while Greenergy Development Corp. led by businessman Tony Tiu inked a memorandum of understanding with Power China Guizhou Engineering Corp. to develop the 300-megawatt Pulangi hydropower plant project worth $1 billion. A local company called MVP Global Infrastructure Group Ltd., a private investment group focused on co-investing with large mainland Chinese companies in Malaysia, Vietnam and the Philippines, also bagged large investment deals. MVP is composed of three entrepreneurs from Malaysia, Vietnam and the Philippines. Rep. Harry Roque has questioned MVP’s credentials. It has no record at the Securities and Exchange Commission. It is not connected at all to Manuel V. Pangilinan and his MVP and PLDT Group.

The so-called MVP Group (not Pangilinan’s) signed an MOU to establish a partnership with China Railway Engineering Corp. to undertake $2.5 billion worth of infrastructure investments. MVP also signed a deal with Suli Group Ltd. to invest in cabling manufacturing facilities in the Philippines that would produce $3 billion in trade value. ABS-CBN reported that MVP Global Infrastructure Group and Tianjin Suli Cable Group Co., one of China’s largest industrial conglomerates, signed a $3 billion deal to produce high-end cables in the Philippines. A new joint venture will be formed to produce ultra-high voltage cable, aluminum alloy cable, power cable, military industrial cables, and special cables. “Globally competitive cabling is needed in order to achieve world class telecom, power and basic infrastructure. We believe this deal also reaffirms the growing economic ties between China and the Philippines,” MVP’s Enrique Gonzalez said in a statement. Suli is a state-owned high-technology company. It is one of the largest cable manufacturers and distributors in Asia with over $15

billion in sales. “This new opportunity for cooperation will also be a vehicle to introduce Philippine industry to our brand of manufacturing excellence,” Suli group chairman Zhao Junyin was quoted as saying. Businessman Reghis Romero scored three deals, including a $780-million contract his Mega Harbour Port sealed with China Harbour Engineering Co. Ltd. to undertake the 214-hectare coastline project. Secretary Ramon Lopez is optimistic about balancing of relations with China. “Pagka kasi kaibigan na, marami pwede pag-usapan, ‘yun lang nabanggit nating mga lifting of suspension, opening up the trade, ili-lift din ‘yung advisory sa mga tourists, so definitely mas dadami na ‘yung pupunta dito. And 100 (Chinese) million tourists going out, so parang ang daming opportunity, ilang percent lang ‘non mapunta sa atin eh, milyon milyon na na tourists. Eh ngayon 500,000 lang. So ang laki ng difference,” Lopez pointed out. Indeed, big difference. Bangladesh got more. PH got less. biznewsasia@gmail.com

News

FRIDAY, OCTOBER 28, 2016 mst.daydesk@gmail.com

All pharmaceutical products covered in this Circular shall strictly follow the latest ASEAN and World Health Organization (WHO) Guidelines. The FDA may further broaden the product coverage, as deemed necessary, to ensure interchangeability of multisource/generic pharmaceutical products.

Poe: Free burial for unclaimed cadavers

A. Products requiring in vivo equivalence studies

By Vito Barcelo

MMDA to implement smoking ban anew By Joel E. Zurbano THE Metro Manila Development Authority is set to resume its antismoking campaign in public transportation across the metropolis to protect non-smokers, particularly pregnant women and children, from second-hand smoke. MMDA acting chairman Thomas Orbos said 50 green-uniformed personnel will be deployed on inter-

sections all over Metro Manila to enforce the ban. “They will be deployed on intersections such as Shaw Boulevard, Cubao and Balintawak,” Orbos said. He said the ban covers not only passengers but also drivers of public utility vehicles. The agency will impose a P500 fine on both the smoker and the driver. The MMDA is also implementing an information campaign

25 OCT 2016

FDA CIRCULAR No. 2016-019 SUBJECT: Revised Guidelines on the Submission Equivalence Evidence for Registration Pharmaceutical Products

of of

OBJECTIVE AND APPLICABILITY The objective of this Circular is (a) to establish the specific requirements in the submission of in vitro or in vivo equivalence evidence in the registration of pharmaceutical products; and (b) to rationalize the scope of requiring product interchangeability based on product risk. Consistent with Administrative Order No. 2013-0021, relative to FDA Circular No. 2013-0141 and pursuant to FDA Circular No. 2015-0122, the following guidelines are hereby imposed: A. For Renewal Applications: All applications for renewal registration shall be issued a CPR with a validity of five (5) years, provided that the following conditions shall be fulfilled: 1. Mandatory submission of in vivo / in vitro equivalence study (whichever is applicable) upon renewal shall apply to the following: a) Biopharmaceutics Classification System (BCS) Class

2 and Class 4 oral immediate-release pharmaceutical products with systemic action; b) Modified-release pharmaceutical products designed to

act systemically; c)

Pharmaceutical products containing drug/s with narrow therapeutic index (NTI):

d) Fixed-dose combination (FDC) products with systemic

action where at least one of the drug substances requires an in vivo study; and e) Additional strengths of a pharmaceutical product,

wherein the reference, usually the highest strength, has demonstrated in vivo equivalence with the comparator drug. The required equivalence study shall be submitted at the time of filing of the application for renewal registration together with the other applicable documentary requirements. 2. Conditional approval of incoming renewal applications shall be applicable to the following: a) Pharmaceutical products containing a Class 1 or 3

drugs based on the BCS; and b) FDC products containing substances under BCS Class 1 and/or 3 only Upfront submission of the satisfactory equivalence study may not be required. Provided, however, at the time of filing of the application for renewal registration, the applicant company shall provide documents substantiating the BCS Class of the drug substance/s as stated in the succeeding Part III (Implementing Details), Section C of this Circular together with the other applicable documentary requirements. Provided further, the required biowaiver/equivalence study shall be submitted within three (3) years after the issuance of the renewed Certificate of Product Registration (CPR). Non-submission shall be a ground for recall and/or seizure of products and other appropriate legal action by the FDA. 3. Approval of renewal registration shall be allowed without the upfront submission of BE study or biowaiver to the following renewal applications: a) Over-the-Counter (OTC) drugs; b) Single and multi-component vitamin and mineral preparations; c) Single and multi-component preparations containing amino acids; and d) Household Remedies (HR) Provided, that the other documentary requirements for renewal registration are submitted. Provided further, that the FDA shall not be precluded to impose the requirement of interchangeability on the above products as it deems necessary. B. For Initial and Variation Applications: From the effectivity of this Circular all application dossiers for initial as well as certain post-approval changes of drug products covered in this Circular shall include a complete and detailed in vivo or in vitro equivalence evidence, whichever is applicable. Submission of the study schedule in lieu of the actual study report, as well as any requests for extension for whatever reason shall not be accepted. II. SCOPE This Circular shall apply to all manufacturers, traders and distributors (exporters, importers and wholesalers) of all drug products, except: 1. 2. 3. 4. 5.

Traditional/Herbal medicines; Biological products; Medical oxygen; Veterinary drugs: and Stem cell products

In the meantime, however, this will not cover manufacturers, traders and distributors (exporters, importers and wholesalers) of the following: 1. 2. 3. 4. 1 2

creased risk of developing lung cancer. Babies of non-smoking women who are exposed to second-hand smoke during pregnancy are at risk of experiencing a small reduction in birth weight. Smoking kills six million people a year worldwide and will cause more than 8 million deaths annually by 2030, according to the US-based Centers for Disease Control and Prevention.

III. IMPLEMENTING DETAILS

Republic of the Philippines Department of Health FOOD AND DRUG ADMINISTRATION

through social media (@MMDA Facebook and Twitter accounts) to send warnings to individuals who smoke in public. According to Health Justice Philippines and Southeast Asia Tobacco Control Alliance, at least 10 Filipinos die every hour from diseases related to smoking. They said non-smoking adults exposed to second-hand smoke at home or at work have a 25 to 30 percent in-

Over-the-Counter (OTC) drugs; Single and multi-component vitamin and mineral preparations; Single and multi-component preparations containing amino acids; and Household Remedies (HR)

“List of Products Requiring Bioequivalence (BE) Studies as Part of the Application for Marketing Authorization in Addition to Rifampicin and the 11 Products Listed in Bureau Circular No. 2006-008” “Additional Requirements for the Effective Implementation of FDA Circular No. 2013-014. List of Products Requiring Bioequivalence (BE) Studies as Part of the Application for Marketing Authorization in Addition to Rifampicin and the 11 Products Listed in Bureau Circular No. 2006-008”

Applications for registration of the following products are required to submit in vivo equivalence studies: Biopharmaceutics Classification System (BCS) Class 2 and Class 4 oral immediate-release pharmaceutical products with systemic action; 2. Modified-release pharmaceutical products designed to act systemically: 3. Pharmaceutical products containing drug/s with narrow therapeutic index (NTI); and 4. Fixed-dose combination (FDC) products with systemic action where at least one of the drug substances requires an in vivo study. 1.

B. Products qualified to conduct in vitro equivalence studies The following products shall be eligible for a biowaiver, provided they meet the criteria stated in the ASEAN and World Health Organization (WHO) Guidelines: Pharmaceutical products containing a Class 1 or 3 drugs based on the BCS; 2. FDC products containing substances under BCS Class 1 and/or 3 only; and 3. Additional strengths of a pharmaceutical product, wherein the reference, usually the highest strength, has demonstrated in vivo equivalence with the comparator drug. 1.

C. Determination of BCS Class of a drug substance In the submission of BCS-based biowaivers, the applicant company shall determine the aqueous solubility and intestinal permeability of the drug by providing references such as sound peer-reviewed literature and results from a validated method to determine the BCS Class of a drug substance. D. Comparator drug products The comparator drug to be used for equivalence studies shall be determined by this Office based on the selection criteria of ASEAN comparator product. A list of comparator drugs according to the drug substance and the corresponding dosage form/s and strength/s shall be provided by this Office. This list shall be updated periodically. If an equivalence study used the same comparator drug recognized by this Office but with different manufacturing site, the applicant company shall provide the results of in vitro dissolution between the comparator drugs in addition to the original equivalence study. In case a comparator drug is not available in or was acquired outside the Philippines, the comparator drug should be purchased from a well regulated market with stringent regulatory authority such as ICH member countries. The applicant company shall provide the following documents to confirm the source and use of the comparator drug for equivalence studies: 1.

Copy of the labeling materials of the comparator drug. Pertinent information such as the name of the product, name and address of the manufacturer, batch number and expiry date shall be clearly visible on the labels:

Copy of invoice from the distributor or company from which the comparator product was purchased. The address of the distributor must be clearly visible on the invoice;

Documentation verifying the method of shipment and storage conditions of the comparator product from the time of purchase to the time of study initiation; and

A signed statement certifying the authenticity of the above documents and that the comparator product was purchased from the specified national market. The certification should be signed by the company executive responsible in the application for registration of the drug product.

For BE Studies of FDC products, the multisource pharmaceutical product shall be compared with the respective innovator FDC product. In case no innovator FDC product is available in the market, the comparator drugs of the individual components administered in loose combination shall be used. E. Foreign studies In case a BE Study is conducted outside the Philippines, the applicant company shall provide a copy of the valid Certificate of Accreditation and/or inspection report of the foreign BE Study Site issued by regulatory agencies to confirm compliance with Good Clinical Practice (GCP) and Good Laboratory Practices (GLP). F. Equivalence study method The analytical method used for the equivalence study shall be well-documented and validated following the existing guidelines. G. Reporting Format The in vivo equivalence study report shall follow the ASEAN Bioequivalence Study Reporting Format. For in vitro studies, no specific reporting format is required, provided that the dissolution protocol and report shall indicate the procedure and results of the study following the latest ASEAN and WHO Guidelines. IV. REPEALING AND SEPARABILITY CLAUSE Provisions in previous FDA circulars and memoranda that are inconsistent with this Circular are hereby withdrawn, repealed and/ or revoked accordingly. If any provision in this Circular, or application of such provision to any circumstances, is held invalid, the remainder of the provisions in this Circular shall not be affected. V. EFFECTIVITY This Circular shall take effect immediately.

NELA CHARADE G. PUNO, RPh Director General Standard – Oct. 28, 2016

ENATOR Grace Poe on Thursday has ﬁled a measure seeking to uphold the rights of the deceased.

Senate Bill No. 1229 or the proposed Burial Assistance Act of 2016 seeks to expand the burial assistance program of the Department of Social Welfare and Development to cover burial assistance to indigent deceased persons whose bodies remain unclaimed or unidentified, regardless of the cause of death, whether crime-related or not. Burial assistance as defined under Poe’s bill shall include sums and services that cover the costs of the casket or urn, embalming, cremation, and other related services such as viewing or wake cost, pick-up from the hospital morgue, and transport of the body to the intended burial site. The assistance, however, shall not exceed P10,000 or its adjusted value after every six years. “Justice should be afforded to the dead, whether unidentified or unclaimed, or whether he or she is a minor, especially when such death is due to suspicious circumstances,” Poe said. Meanwhile, the Catholic Church has released a booklet that will guide the Filipino faithful in offering prayers for the dead as millions are expected to pay respects to their departed loved ones this All Saints’ Day. “To support the Church’s effort to clarify popular customs of visits to cemeteries and other occasions such as wakes or funerals, the Catholic church pro-

duced ‘Prayers for the Dead’—a handy booklet to help strengthen Catholics’ faith in the face of the death and to guide them in offering suffrages for the dead,” the Catholic Bishops Conference of the Philippines said. The book’s author, Fr. Charles Belmonte, a theologian with more than 30 years of pastoral work experience in the country, said that even in these high-tech times, devotionals like “Prayers for the Dead” are still relevant. “First, our goodwill for the dead is seldom adequately supported by solid Catholic doctrine. We find ourselves at a loss, not knowing what to say or do. Second, the booklet will help deepen our faith and enhance our piety for the dead, providing us with appropriate prayers and rites. It presents the Church’s genuine teaching on the commemoration of the dead that will free the faithful from traces of superstition that unfortunately have found their way into some practices through the years,” Belmonte said. “Oftentimes, these gatherings turn into mere reunions, or worse, into gambling or drinking sprees. [But] praying for the dead is one of the spiritual works of mercy. From the very earliest days, the Christian religion has honored with great respect the memory of the dead and the Church offers suffrages for them,” Belmonte added.

EARLY RUSH. Passengers leave for their respective provinces ahead of the ‘Undas’ holiday to pay respects to their departed loved ones. Manny Palmero

Southern toll operators brace for ‘Undas’ traffic TO MAKE travel on the south toll roads safer and more convenient for motorists who will go to provinces south of Metro Manila to visit memorial parks and cemeteries in observance of this year’s All Saints’ Day, or go on vacation out-of-town starting Friday (Oct. 28) night, the south toll road operators advise them to plan their trip and to keep their vehicles in tip-top condition—check cooling systems, brakes, tires, oil and fuel. Drivers are also reminded to stay fit and alert, to obey tollway traffic and safety rules, especially the speed limit rule, and to prepare exact toll fees, if they don’t have RFID stickers, which they can still secure by calling the RFID Hotline at 318-8655. Skyway O&M Corp. (SOMCO), Manila Toll Expressway System Inc. (MATES) and Star Tollway Corp. (STC), operators of Skyway System, South Luzon Express-

way (SLEX) and Star Tollway, respectively, expect tollway northbound (NB) and southbound (SB) traffic to build up on Friday night, October 28, the whole day of Oct. 29 and, on Sunday afternoon Nov. 1. At the Skyway System, the toll plazas with high traffic include the Main Toll Plaza, Dona Soledad, Dr. A. Santos, Alabang and NAIAEx on the elevated section; and C5, Nichols, Merville, NB/SB exits in Bicutan and Sucat; and on Alabang and South Station on the at-grade section. At SLEX, Filinvest NB Exit/SB Entry, Susana Heights NB, Carmona NB/SB, SB Exit plazas of Mamplasan, Sta. Rosa, Eton and Cabuyao, and the NB/SB Exits of Calamba and Greenfields are expected to be very busy. Meanwhile, at the Star Tollway, motorists may experience queueing at the toll plazas of Sto. Tomas, Tanauan, Malvar, Balete, Lipa, Ibaan and Batangas City.

Sports

FRIDAY, OCTOBER 28, 2016 sports_mstandard@yahoo.com

Pacquiao training hits high gear L

OS ANGELES—Manny Pacquiao says that despite a punishing schedule which includes juggling two high-proﬁle jobs in the build up to his return to the boxing ring, he has still managed to maintain his ﬁre for the sport. Now that the Philippine Senate is on a break, the boxing legend says he is finally able to start training in earnest to face World Boxing Organization welterweight champion Jessie Vargas in Las Vegas. Three months after ending his

the recently-elected Senate member Pacquiao said Wednesday at the Wild Card Gym in Hollywood. “Every day I was able to run in the morning and then train after the Senate session. The gym is very close to the Senate. “It is important to win this fight convincingly to prove that I am still there.” Pacquiao’s long-time trainer Freddie Roach said the 37 yearold’s continued success is a result of the hard work in the gym. “His work ethic is still the greatest

brief ring “retirement,” Pacquiao is in the final weeks of preparations for the fight which will be held November 5 at the Thomas & Mack Center. “It can be very difficult if you are not disciplined. But I feel good,”

I have ever seen,” Roach said. “I am amazed that after 15 years of working together he still has that passion. “He’s beating the mitts and beating his sparring partners. He still has the speed and power. Manny will punch this guy out.” Pacquiao looked impressive in April when he dominated Timothy Bradley in their third fight. If he gets past Vargas, as many think he will, Pacquiao could be looking at a fight against unbeaten Terence Crawford in 2017. “He’s like a young Floyd May-

weather,” said promoter Bob Arum of Crawford. After getting his first taste of retirement, Pacquiao says he made a mistake and has no plans to go back to that lonely place. “I told them that when I feel lazy in training it is time to hang up my gloves,” he said. Roach said from what he has seen over the last few weeks that day is in the distant future. “I have an agreement with him that when I see him slip he will retire,” Roach said. “This is the best I

have seen Manny in training camp in a long time. I had to take a couple of days off because my shoulder was so sore from him punching me.” The way Pacquiao’s been able to juggle 14 hour days in the Philippines backs up the notion he could continue to fight for some time at a high level. In a typical day, he says he wakes up for a 7 a.m. run. He has to be at the Senate at 10 a.m. for meetings and then the afternoon sessions run until 5 p.m. He goes to the gym in the evening where he works out until 9 p.m. before heading home. AFP

Cubs level series with 5-1 victory CLEVELAND—Get ready Wrigley Field. The Chicago Cubs are coming home with a chance to win their first World Series crown since 1908 in front of their devoted but long-suffering supporters. Jake Arrieta threw five hitless innings and the Cubs captured their first World Series triumph since 1945 by routing the Cleveland Indians 5-1 Wednesday to level Major League Baseball’s best-of-seven championship showdown at one win each. The Cubs are trying to end the longest title drought in American sports history and could do it in Chicago starting Friday by sweeping the next three games at iconic 102-year-old Wrigley Field. “Having a World Series to root for, it’s going to be incredibly special,” Cubs manager Joe Maddon said. “Wrigley, it’s always crazy good, but I would have to imagine a little bit more than that, especially coming back at 1-1. I think the folks will be jacked up about the win.” Arrieta, last year’s Cy Young Award winner as the National League’s best pitcher, tossed a nohitter in 2015 and another this year and was off to a hot start over five innings despite three walks.

“I knew I hadn’t given up a hit all the way to the sixth,” Arietta said. “That’s really not the focus in a game like this. You want to pile up outs as often as you can. I wanted to stay aggressive. That was a mindset throughout, whether I gave up a hit or not.” The 30-year-old right-hander stumbled to surrender a run on two hits in the sixth but threw 55 strikes among his 98 pitches over 5 2/3 innings. “Overall he had great stuff,” Maddon said. “His command, a little bit scattered at times, but he kept battling through.” Two first-inning walks with two outs prompted a conference on the mound that helped Arrieta focus. “I had my foot on the gas a little too much at the start, trying to do more than I needed,” Arrieta said. “Then I really got back to just executing good pitches at the bottom of the strike zone.” The Cubs were aided by two fielding errors from Cleveland second baseman Jason Kipnis. “We only gave up five runs. We were probably pretty fortunate,” Indians manager Terry Francona said. “For us to win, we generally need to play a clean game and we didn’t do that.” AFP

Aroldis Chapman (54) of the Chicago Cubs throws a pitch during the eighth inning against the Cleveland Indians in Game Two of the 2016 World Series at Progressive Field on Oct. 26, in Cleveland, Ohio. AFP

Mandanas, Constantino set NGAP regional pace ANICETO Mandanas rode on a four-birdie binge in the early going to cushion the impact of a faltering windup, settling for a one over 72 and a two-stroke lead over Aidric Chan and Richnell Albano at the start of the NGAP Northern Luzon Regional Golf Championship at the Beverly Place Golf Club in Pampanga, yesterday. Mandanas actually stumbled with a bogey on the par-3 second but ran off four straight birdies from No. 3 to seize control of the 18-player field in the centerpiece Elite Amateur (Men’s) division of the event sponsored by the

MVP Sports Foundation, Smart, PLDT and MPIC. But he wavered at the tricky backside of the par-71 bunkerladen layout, hobbling with three bogeys and a double bogey and needing to birdie the short par-5 18th to save a 31-41 card and stay two shots clear of Chan and Albano, who turned in a pair of 34-40 cards. Rupert Zaragoza, the pre-tournament favorite, made a decent frontside 35 but lost his touch and focus at the back, ending up with a 43 to tumble to joint sixth at 78, six strokes adrift. The national champion and former junior titlist made

back-to-back double bogeys from No. 10 and had two more bogeys in a birdie-less backside stint. But Harmie Constantino lived up to the pre-tournament hype, also shooting a 72 to open a five-shot lead over Korean Shin Seo Yun, who carded a 77 while Kristine Torralba shot an 80 in the Elite Amateur women’s side of the event organized and conducted by the National Golf Association of the Philippines. A recent winner on the ladies pro circuit and member of the victorious Philippine team in the recent World Junior Girls in Canada, Constantino bucked a

bogey-bogey start with birdies on Nos. 3 and 7 then stumbled with two more bogeys at the back against a final hole birdie for a 34-38 card. Jose Antonio Narciso, meanwhile, took command in the men’s division Group I with a 76 for a one-shot lead over August Cruz with Francis Telan at third with a 79 and Alan Alegre, Lisandro Opulencia and Francis Lanuza all carding 80s for joint fourth. Ricardo Loyola, on the other hand, made an 83 to post a threestroke lead over Matias Pineda Jr. and Jere Fregil, who turned

in identical 86s, in Group II with Alain Canapi at fourth with an 87 and Manny Luzon shooting an 88 for fifth. Jets Sajulga bogeyed the final hole and slid to fourth in the elite men’s with a 75 while Jolo Magcalayo laying another stroke back at 76. Joining Zaragosa at sixth were Oh Sang Jin and Seung Hyeon Back. Nicole Abelar, meanwhile, sputtered with an 81 for fourth in women’s elite while Ashia Nocum and Jona Magcalayo carded identical 83s and Rev Alcantara struggled with an 87.

Fernandes defends title at Age of Domination

Bibiano Fernandes (left) beats his opponent with a rear naked choke. Fernandez defends his bantamweight title against Reece McLaren at ONE Championship’s Age of Domination.

ONE Bantamweight World Champion Bibiano Fernandes defends his title against Reece McLaren, while Leandro Ataides of Rio de Janeiro, Brazil takes on Mohamed Ali of Alexandria, Egypt at ONE Championship’s Age of Domination on Dec. 2 at the Mall of Asia Arena. Victor Cui, CEO of ONE Championship, said the fight card is the most exciting card they have ever put on in Manila. With the addition of another title bout, fans in the Philippines and all around the world can look forward to an amazing night of world-class mixed martial arts action. The 36-year-old Fernandes of Brazil is the reigning ONE Bantamweight World Champion and widely considered one of the best bantamweights in the world. He made his promotional debut in 2012, captured the title in 2013 and has since then remained unbeaten inside the ONE Championship cage.

A winner of his last 11 bouts, including three submission wins and two knockouts. The 25-year-old McLaren is a Filipino-Australian professional mixed martial artist from Toowoomba, Australia. He made his ONE debut in 2015 with a spectacular submission victory over top bantamweight contender Mark Striegl and then followed up that win with a unanimous decision over highly-regarded prospect Muin Gafurov. McLaren has showcased a tremendous striking arsenal paired with a robust grappling skill set in his career to date. The 30-year-old Ataides owns a professional record of eight wins and three losses, with only two victories reaching the final bell. The hard-charging Ataides remains a force to be reckoned with at middleweight and will look to excite the crowd by defeating his next opponent, Mohamed Ali.

PPS-PEPP San Carlos tournament draws stellar field TALENTED aces from Manila, Visayas and Mindanao make up the star-studded field vying for top honors in the Palawan Pawnshop-Palawan Express Pera Padala San Carlos leg regional tennis 2016 at the Sakata Tennis Club in San Carlos City, Negros Occidental. Cenon Gonzales Jr. and Marcus del Rosario from Manila, Norman Enriquez, Chad Cuizon and Venz Alforque from Cebu, Nicholas Ocat from Ormoc, Drixcyn Guillano from Roxas City, Bacolod’s

Pete Rodriguez and siblings Fernando and Fern Po, Khenz Justiniani and Karl Baran from La Carlota, Dumaguete’s Ibarra Ortega Jr.,Vince EJ Tugade from Sultan Kudarat and Gen. Santos City’s Klyde Lagarde gear up for a fierce battle in various divisions of the Group 2 tournament sponsored by Palawan Pawnshop and presented by Slazenger. Local ace Bliss Bayking, fresh from her three-title romp in Bacolod last week, is expected to draw inspiration from the

hometown crowd as she heads the field in the girls’ 14-and-under division of the top-ranking event sanctioned by Philta and backed by Asiatraders Corp., exclusively distributor of Slazenger, the official ball, and held as part of the host city’s Pintaflores Festival. “We are inviting all tennis aficionados and fans to watch the 24th staging of the Pintaflores Tennis Festival, a showcase of talents not just from the host city but from all over,” said San Carlos City Mayor Gerar-

do Valmayor Jr., who also cited the all-out support of local organizer councilor Criston Carmona and the LGUs of San Carlos. Close to 300 entries are seeing action in the boys’ and girls’ 12-, 14, 16- and 18-U categories and 10 unisex with Tracy Llamas, Alexa Milliam and Kiana de Asis leading the bets from La Carlota, along with Elsie Abarquez from Cebu, Gennifer Pagente from Cagayan de Oro, Diane Perez from Bais and Ellaine Bahunsua from Siquijor.

Gilas mainstay leads 55 PBA Draft hopefuls in Combine By Paul Duran PROJECTED top PBA Draft prospect Mac Belo proved just why he deserves the acclaim as he towered over a crop of rookie hopefuls topping two skills test during the first day of the 2016 Gatorade-PBA Draft Combine. The former University Athletic Association of the Philippines Finals Most Valuable Player showed his leaping abilities while Filam guard Ryan Arambulo flaunted his blistering speed at the Gatorade Hoops Center in Mandaluyong, setting the bar high for the rest of the 55 PBA aspirants. Belo recorded the best tally in the standing vertical leap (33.7 in) and the maximum vertical leap (43.5 in) while Arambulo breezed through the ¾-Court Sprint registering 2.82 seconds, as well as in the Shuttle Run, with 47.22 seconds. The 26-year-old Arambulo also made it to at least the top five of every skill test which acts as barometer for the team scouts in attendance. Meanwhile, Jammer Jamito ruled the lane agility drill with a 11.31-second record. Raffy Banal’s 11.3-meter best in the maximum medicine ball throw was enough to secure him an individual achievement before the applicants showcase their team play with scrimmages sponsored by Under Armor on day 2. Twelve players will be selected for the special Gilas draft to take place before the regular draft on Sunday, October 30 at Robinsons Ermita. Belo represented the Philippines during the 2013 and 2015 Southeast Asian Games, the 2015 SEABA Championship, the 2016 SEABA Cup and the 2016 FIBA Asia Challenge.

LOTTO RESULTS

6/49 00-00-00-00-00-00 P0.0 M+ 6/42 00-00-00-00-00-00 P0.0 M+ 6 DIGITS 00-00-00-00-00-00 3 DIGITS 00-00-00 2 EZ2 00-00

Sports

Riera U. Mallari, Editor Reuel Vidal, Assistant Editor sports@thestandard.com.ph sports_mstandard@yahoo.com

FRIDAY, OCTOBER 28, 2016

Jalalon impresses PBA scouts By Jeric Lopez AS if their credentials aren’t enough already, projected top two picks Jio Jalalon and Mac Belo raised their stocks even higher after continuing to impress in the concluded twoday Rookie Camp of the Philippine Basketball Association. Following the day-long pocket tournament for aspirants yesterday at the Draft Combine at the Hoops Center in Mandaluyong, Jalalon, the former star of Arellano University, emerged as the Most Valuable Player, leading his squad to victory. The team of Jalalon, Raffy Banal, Jamer Jamito, Joseph Eriobu and Jovit Dela Cruz beat the team of Levi Hernandez, Jaycee Asuncion, Reden Celda, Jeoffrey Javillonar, Gene Belleza and Cedric Ablaza, 55-51, in the finale to win it all and make a good impression in front of the PBA scouts. The Mythical Team was composed of Jalalon, Jamito, Selda, Eriobu and Mike Tolomia. The 55 aspirants were divided into eight teams as they all participated in the minitournament to give the scouts and coaches a chance to look at them better in preparation for the upcoming draft. In the Draft Combine two days back, Belo was the highest leaper among all aspirants, listing a 33.70 inch jump while having a 43.5 maximum leap. Blackwater, picking first in the draft, already expressed its intentions of taking Belo, dubbed by many as the most proready among all aspirants, as it hopes he can turn the fortunes of the Elite around with his all-around play. The annual PBA Draft, divided into two: the special draft for the Gilas cadets and the regular draft, will be held this Sunday, Oct. 30, at the Robinson’s Place in Manila. Following the blockbuster deal that got them superstar Paul Lee in exchange for longtime franchise player James Yap, Star secured two of its top guns yesterday, re-signing veteran big man Marc Pingris and rising spitfire RR Garcia to separate maximum deals.

Most NSAs will support Peping’s bid By Peter Atencio SEVENTEEN national sports associations are expected to throw their support behind incumbent Philippine Olympic Committee president Jose “Peping” Cojuangco jr. when he seeks another term of office. He said this is the number that he is expecting to get following the disqualification of boxing chief Ricky Vargas, who was supposed to challenge him. “That’s the maximum number I can get, 17 votes. The other side will get just seven,” said Cojuangco following Wednesday’s POC General Assembly. Cojuangco made this assessment after POC election committee chief Frank Elizalde discussed their findings and recommendation following a review of candidates in the coming polls on Nov. 25. “The one’s questioning the rules of the election and causing trouble is just a minority,” said Cojuangco. Vargas was deemed unfit to run for a position in the POC with cycling’s president Abraham “Bambol” Tolentino. Elizalde cited Section 11 in Article 7 of the POC constitution and bylaws, which states that “the Chairman and the President of the POC must have had at least four years experience as NSA President of an Olympic Sport at the time of his election as POC Chairman or President.

Los Angeles Lakers guard Jordan Clarkson (6) tries to dribble past Houston Rockets defender James Harden (13) during a 120-114 season opening Laker win at Staples Center on Oct, 26 in Los Angeles, California. AFP

Lakers, Clarkson start new era at Los Angeles L

OS ANGELES—The new-look Los Angeles Lakers, with Kobe Bryant retired and coach Luke Walton at the helm, opened their National Basketball Association season with a 120-114 victory over the Houston Rockets on Wednesday.

Jordan Clarkson came off the bench to score 12 of his 25 points in the fourth quarter. D’Angelo Russell scored 20 points and Julius Randle added 18 points, seven rebounds and six assists for the Lakers, who overcame James Harden’s 34 points and career-high 17 assists for Houston—who lost in former Lakers coach Mike D’Antoni’s first game in charge of the Rockets. “It feels good,” said Walton, a former Laker who cut his coaching teeth as an assistant to Steve Kerr at Golden State. “It feels really good. The guys really fought tonight. A big part of what we’re

trying to do here is develop this identity, this culture ... learning how to win games is a skill at this level. We did some things that could have cost us the win at the end of the game tonight, so obviously we can learn from that— and that fact that we still got that win feels really good.” Walton admitted to “nerves and excitement” before the contest, but was buoyed by the presence of his father, former NBA star Bill Walton. “The Walton force will be strong tonight,” said the 36-year-old coach, who has been tasked with turning around a Lakers team that plunged to a 21-61 record in

2014-15, only to follow up with a franchise worst 17-65 campaign last season. Meanwhile, Russell Westbrook scored nine of his 32 points in the waning minutes as the Oklahoma City Thunder rallied to beat the 76ers 103-97 in Philadelphia in their own NBA season-opener. Westbrook, who also had 12 rebounds and nine assists, snapped a 97-97 tie with 35 seconds remaining by connecting twice from the free-throw line after a foul off the ball by Philadelphia’s Gerald Henderson. The Thunder, who trailed by six with 6:17 to play and by four with 4:16 left, spoiled the injury-delayed NBA debut of Sixers center Joel Embiid, who finished with 20 points and seven rebounds. Embiid, the Cameroonian center taken third overall in the 2014 draft, missed the past two seasons as a result of two foot surgeries. “I try to make it a regular

day,” Embiid said before the contest. “It’s hard, added the 22-yearold, who coped not only with ongoing injury since being drafted but also with the death of his younger brother, Arthur, in a road accident. Two free throws from Clarkson lifted the Lakers to a 108104 lead with 6:41 to play. But Harden converted a pair of foul shots with 3:53 left to knot the score at 110. Two Russell free throws boosted the Lakers to a 113-112 lead with 2:47 remaining and the hosts wouldn’t trail from there. The Rockets, who led by as many as 10 points, grabbed a 71-63 edge at the half. They connected on 64.4 percent of their shots compared to 53.2 percent for the Lakers before the break. “I was real proud of the way they accepted the challenge in the second half,” Walton said of his young team, “real proud that they stuck with it.” AFP

Thai rules Northwoods ICTSI Ladies Challenge SAN RAFAEL, Bulacan—Thai Saruttaya Ngam-usawan used a strong start to wrest control then flashed near-impeccable touch on the greens to shoot a twounder 70 and beat Cyna Rodriguez by two for a breakthrough win in the ICTSI Royal Northwoods Ladies Challenge at the Royal Northwoods Golf Club here yesterday. Overnight leader Jaruporn Palakawongnaayuttaya cracked under pressure and floundered with an 86 but Ngamusawan stepped up big in the early going then foiled Rodriguez’s charge in a flight ahead with clutch pars at the back to rule the P1 million championship and snap a long title spell. “I’m so happy to finally score a big victory. But I really didn’t expect to win after a poor start although I gained some confi-

dence in the second round then made the most of my chances today [yesterday],” said the 28-year-old Ngam-usawan, winless since turning pro in 2010 and had forgettable finishes in three tournaments on the ICTSI Ladies Philippine Golf Tour the past two years. She looked headed for another so-so campaign after opening with a 77 in the P1 million championship sponsored by ICTSI but turned things round around with a solid 69 in the second, moving from nowhere to third, two strokes off Palakawongnaayuttaya. Ngam-usawan sustained her form and birdied three of the first seven holes in the final round to take charge as Palakawongnaayuttaya fumbled in the early going then the Thai Saruttaya Ngam-usawan reads the line of former held sway with a run of gutsy pars at her putt on No. 3 hole. She scored a breakthrough the finish to thwart a charging Rodriguez. win in the Northwoods Ladies Challenge.

UAAP schedules long break WEEKEND games in men’s basketball have been postponed after organizers called for a 10day respite due to the holidays. Matches will resume on November 5 at the Araneta Coliseum with a doubleheader which features the rematch between rivals La Salle and Ateneo. Among the games called off were those between University of the East and Far Eastern University, and Adamson University against Ateneo De Manila University at the Smart-Araneta Coliseum, according to a statement released Wednesday. League officials said the doubleheader was supposed to be played October 16. But was postponed due to typhoon Karen. It was again rescheduled as the UE Warriors were unavailable to play on Saturday, two days before the All Saints Day break. Meanwhile, the women’s basketball matches on Saturday morning between Ateneo and University of Santo Tomas and National University and La Salle will go on as scheduled. In table tennis, University of Santo Tomas completed a perfect 16-0 season to end a threeyear title drought in the men’s division. On the other hand, De La Salle extended its reign in the women’s side Tuesday at the Blue Eagle Gym. The Growling Tigers swept the best-of-three series against the Green Archers via identical 3-0 scores to capture a leaguebest 26th men’s crown. Norielle Pantoja won the season MVP honors. Peter Atencio

Customs, BaliPure peaking at right time

Pocari’s Michelle Gumabao (left) beats Laoag’s Gretchel Soltones in a joust at the net during their Shakey’s V-League Reinforced Conference duel at the Philsports Arena. Pocari advanced to the Final Four of the tournament.

CUSTOMS and BaliPure are making sure they’re peaking at the right time heading to the best-of-three semifinals of the Shakey’s V-League Season 13 Reinforced Conference. The Transformers and the Purest Water Defenders clinched the last two Final Four seats with two playdates left in the single round elims with the pre-tournament favorites confident of reaching peak form in time for the cutthroat competition in the playoff phase. “We’ve sorted out our chemistry issues by making

sure we have communication in and out of the court,” said BaliPure team captain Charo Soriano, whose squad and that of Customs joined early semifinalists University Santo Tomas (5-1) and Pocari Sweat (4-1). “Because of that, we’re improving every game and hopefully we’ll be a better team come the semis and hopefully the finals,” she added. The Purest Water Defenders actually fumbled at the start of the season-ending conference of the league where it all started, bowing to the Tigresses, 25-21, 25-27,

Games tomorrow 10:30 a.m. – IEM vs Army (Spikers) 12:30 p.m. – 100 Plus vs Cignal (Spikers) 4 p.m. – Pocari vs Bali Pure (V-League) 6 p.m. – Air Force vs Customs (V-League)

23-25, 13-25, last Oct. 8. But they turned things around since, racking up four straight victories, including a 25-21, 26-24, 25-13 win over Team Laoag last Wednesday. Customs, on the other hand, struggled with losses to BaliPure and Pocari but found a way to bounce back strong from each setback to earn a semis ticket at 4-2. Transformers coach Sher-

win Meneses thinks reception will be the key in their bid for a championship on their first try in the league backed by Mikasa as official ball and Accel as official outfitter. “Never mind the difficult ones, but if we can get the easy balls, we’ll have a strong chance,” said Meneses. Customs has been working behind the troika of Alyssa Valdez and Thai reinforcements Kanjana Kuthaisong and Nathanicha Jaisaen but have made a conscious effort to improve on their defense with the conversion of Fenela Emnas from setter to libero.

Market extends losses; SBC rises

Business

Ray S. Eñano, Editor Roderick T. dela Cruz, Assistant Editor business@manilastandardtoday.com extrastory2000@gmail.com FRIDAY, OCTOBER 28, 2016

Nickel miner suing DENR By Anna Leah E. Gonzales

ENGUET Corp. Nickel Mines Inc. said Thursday it will ﬁle a case against the Environment Department for “unlawful” suspension of its nickel operations in Sta. Cruz, Zambales.

BNMI said in a statement it was left with no other viable administrative remedy and was “constrained to elevate to the courts the matter of the unlawful suspension of its nickel mining operations in Sta. Cruz, Zambales, pursuant to the suspension order issued last July 8, 2016.” BNMI is among the first batch of 10 companies whose operations were suspended by DENR for various reasons. The department said 20 more mining operations failed to pass an environmental audit, which could lead to suspension. BNMI had to temporarily lay off more than 1,000 workers since the suspension order was issued. “To avoid irreversible financial damage to its business and ease the hardship on other affected stakeholders, the company has no choice but to resort to legal action to obtain an equitable resolution to this controversy,” BNMI said. The mining company said it was confident that its operations, once allowed to resume, would not pose any threat to the environment. BNMI said it planned to file a petition for certiorari with injunction to assail the suspension order jointly issued by Mines and Geosciences Bureau, Environment Management Bureau and DENR Regional Offices “with grave abuse of discretion, in an arbitrary manner, without due process and ahead of the conduct of a nationwide mining audit.” “BNMI will avail of said legal remedy to prove that despite its full compliance with remediation conditions under the previous lifting order dated Aug. 24, 2015, the said regional government agencies unjustifiably refused to reverse the suspension order,” BNMI said. The company said the filing of the case aimed to protect itself, its workers and the affected communities which were depending on the corporation for livelihood and support. BNMI said it had already exerted earnest efforts to assure the DENR and the antimining groups of its continued undertaking to conduct responsible and sustainable mining activities and its willingness to be an active partner of the government in protecting the environment. “To this end, BNMI reached out to the DENR and the anti-mining groups to present a proposed arrangement that would have ensured that the environment in Sta. Cruz would not only be protected, but would even be improved, through a partnership between the mining corporations, the people and the government,” said BNMI. “These efforts, however, proved to be unsuccessful, as the anti-mining groups, and even the DENR representatives, rejected BNMI’s fair and reasonable proposal and continue to appear bent on endorsing an unjust arrangement which will deprive the mining companies of any recourse against the results of the audit and, worse, will require them to summarily acknowledge alleged liabilities for compensation and rehabilitation, without immediate prospect of resuming operations,” BNMI said.

PH poverty incidence declines to 21.6% Imported auto sales By Gabrielle H. Binaday POVERTY incidence in the Philippines dropped to 21.6 percent of the population in 2015 from 25.2 percent in 2012 and 26.3 percent in 2009, the Philippine Statistics Authority said Thursday. The National Economic and Development Authority said this meant there were 1.8 million less poor Filipinos last year, compared to 2012. This also put the Duterte administration’s goal to reduce poverty rate to 17 percent by 2022 on track. “We’re conﬁdent that it can be reduced so much more, especially now since we are coming from a much lower base which is at 21.6 percent. And from 2012 to 2015, that’s actually a 3.6-percentage point reduction over a period of three years,” Neda assistant director-general Rosemarie Edillon said. “And since we want to up the ante a bit, then we’re looking at something like a 1.25 percentage point reduction every year, and that brings us to about 13 percent to 15 percent by 2022,” she said. Edillon said the poverty incidence was within the target set in the Philippine De-

velopment Plan, which was 20 percent to 23 percent for the year that resulted from a generally low and stable inflation, improved income and higher employment rate. “Even so, the rate of poverty reduction between 2012 and 2015 could have been faster, if not for the major shocks, especially the intermittent typhoons and El Niño that adversely affected agricultural production, rural incomes and food prices,” Edillon said. Neda said the decline in poverty became more pronounced in recent years. Data showed there were about 1.4 million less poor Filipinos in 2015 than in 2009. Among families, poverty incidence also fell to a record-low of 16.5 percent in 2015 from 19.7 percent in 2012 and 21 percent in 2006. The subsistence incidence, which measures extreme poverty, was reduced by more than half as of 2015, attaining the target of halving extreme poverty under the first Millennium Development Goal. This signifies improvements in the quality of living conditions, which may indicate that the government’s programs and proj-

ects, such as the conditional cash transfer program, have been gaining traction, according to Neda. The magnitude or the extent of the reduction in poverty incidence also improved between 2012 and 2015 by 3.6 percentage points, compared to 1.1 ppts ibetween 2009 and 2012. Neda said the faster decline in poverty rate was supported by signiﬁcant improvements in incomes, particularly among lower income groups. It said while the growth of per capita income in nominal terms accelerated, consumer price inﬂation decreased from 12.1 percent in 2009-2012 to 9.5 percent in 2012-2015. “This means that in real terms, average incomes are growing at a faster rate in the last three years, which is likely to have contributed to poverty reduction,” Neda said. Data showed that from 2012 to 2015, the per capita income of the bottom three deciles of households grew 24.3 percent, and faster than the 15.8-percent average growth for all income groups and 12 percent for the top 20-percent income group.

accelerate 77%—Avid

By Othel V. Campos SALES of motor vehicles posted a record growth of 77 percent in the ﬁrst nine months from a year ago, on strong demand and robust economic expansion, an industry group said Thursday. The Association of Vehicle Importers and Distributors said members sold 68,746 vehicles in January to September, up from 38,882 units delivered in the same period last year. The ﬁgures are on top of those released by other industry groups such as the Chamber of Automotive Manufacturers of the Philippines and Truck Manufacturers Association. “As the year 2016 nears its closing, outlook on Avid performance remains upbeat, expected to grow above market expectations due to strong demand and robust macroeconomic fundamentals. And as sales increase, Avid is all the more resolute to reimagine its products and services to provide the constantly-changing Filipino market an ultimate driving experience,” said Avid president Ma. Fe Perez-Agudo. Sales of passenger cars jumped 69 percent to 26,429 units in the nine-month period from 15,652 units sold a year ago. The light commercial vehicles outpaced passenger car sales with a growth of 82 percent to 42,317 units from 23,230 units. Among Avid members, Ford recorded the highest growth rate of 172 percent. Data showed that in the third quarter, passenger car sales climbed 40 percent to 9,792 units, with Hyundai Asia Resources Inc. leading at 53 percent growth.

Business

FRIDAY, OCTOBER 28, 2016 extrastory2000@gmail.com

Philex’s net income jumps 76% to P1.3b By Anna Leah E. Gonzales PHILEX Mining Corp. said Thursday net income in the ﬁrst nine months jumped 76 percent from a year ago, on higher production and metal prices. Philex said in a statement net income in January to September hit P1.33 billion, up from P756 million registered in the same period last year. Net income attributable to equity holders of the parent company increased 59 percent to P1.355 billion from P851 million. Core net income also grew 64 percent from P811 million in 2015. The company’s Padcal mine milled 7.2 million tons of ore in the nine-month period, up from 6.9 million tons last year. The tonnage translated into 27.1 million pounds of copper, which was 6 percent more than the previous year’s 25.7 million pounds.

Gold production, however, went down to 79,845 ounces from 81,599 ounces in 2015 because of lower gold grades and metal recovery. Philex said the strong performance was generally attributed to operational enhancements, higher equipment efficiency and fully depreciated draw points still yielding good grades of copper and gold. Revenues in the first nine months increased 7 percent to P7.705 billion from P7.173 billion, with gold contributing P4.797 billion, copper accounting for P2.841 billion and silver adding P66.4 million. Philex said the average realized prices for gold reached $1,273 per ounce in the first nine months, up from $1,171 per ounce last year. This more than offset the lower gold output while the increase in copper output compensated for the 11-percent drop in average copper prices to $2.19 per pound from $2.45 per pound.

Market extends losses; SBC rises

tocks fell for a sixth day, as oil held near a three-week low and amid growing expectation the US Federal Reserve will raise interest rates this year.

The Philippine Stock Exchange index, the 30-company benchmark, dropped 49 points, or 0.7 percent, to close at 7,445.14 Thursday. This reduced total gains this year to 7.1 percent. The heavier index, representing all shares, also shed 22 points, or 0.5 percent, to settle at 4,419.30, on a value turnover

of P6.5 billion. Losers outnumbered gainers, 102 to 75, while 41 issues were unchanged. Four of the 20 most active stocks ended in the green, led by Security Bank Corp. which climbed 3.7 percent to P222 and oil reﬁner Petron Corp. which advanced 2.9 percent to P10.50. BDO Unibank Inc., the largest lender, rose 0.8 percent to

P112.80, while conglomerate Aboitiz Equity Ventures Inc. added 0.4 percent to close at P76.70. Meanwhile, most Asian markets also turned lower Thursday, with energy ﬁrms struggling after another selloff in oil fueled by concerns about a planned output cut. Crude prices are slumbering at threemonth lows after OPEC member Iraq and non-member Russia suggested this week they would not take part in any limitations, despite a painful global supply glut. Their comments have raised questions about the viability of last month’s agreement by oil cartel OPEC to re-

MANILA STANDARD BUSINESS DAILY STOCKS REVIEW THURSDAY, OCTOBER 27, 2016

VALUE

NET FOREIGN BUYING/(SELLING), PHP

FINANCIALS 47.8 285,400 102 2,255,240 3.7 13,000 112.8 1,264,420 1.4 41,000 37.65 4,000 16.14 32,200 19.2 152,400 0.68 14,000 1.8 2,000 660 30 0.85 2,631,000 85.2 2,590,170 0.85 452,000 14.2 49,400 22.05 400 58.45 1,940 258.8 2,360 150 1,620 95.05 420 36.95 18,900 222 656,580 1,500 710 75 84,900 1.4 80,000

13,421,400 230,094,302 48,100 141,742,506 55,000 150,600 519,902 2,908,116 9,520 3,600 19,800 2,212,960 223,052,101.50 385,990 702,088 8,820 113,215.50 610,024 247,907 39,921 689,065 144,371,004 1,066,750 6,372,456 112,000

13,421,400 29,544,649 3,119,869 -161,600 218,848 -34,000 -77,328,487 -142,000 22,157 -294,754 24,250.00 35,917,372 556,000 839,661.50 -

45 3.84 0.94 1.39 17 0.203 117 11.2 16.54 23.4 33.2 59.2 102 2.07 7.13 12.8 10.98 7.3 7.27 5.84 22.65 69.85 16.5 6.04 2 243 80 4.05 26.55 30.15 27.3 15.54 273 0.255 3.09 10.22 3.29 2.18 5.84 1.48 3.75 219 4.3 3.18 4.08 0.144 1.71 180 4.4 2.15 1.15

INDUSTRIAL 45.35 2,196,700 3.89 997,000 0.95 3,488,000 1.4 3,384,000 17.1 119,000 0.203 60,000 130.9 12,210 11.22 2,200,900 16.56 365,900 23.45 238,700 34 105,500 63 20,380 105 1,060 2.07 92,000 7.3 1,460,300 12.9 37,100 11.06 1,584,500 7.39 41,000 7.3 718,000 5.88 7,084,900 22.75 1,611,700 69.85 555,870 16.66 44,200 6.04 130,500 2.01 190,000 243 437,520 88 4,730 4.05 20,000 26.55 200 30.25 988,100 27.8 599,600 15.64 442,900 277 378,900 0.26 110,000 3.11 4,981,000 10.5 10,394,800 3.29 1,000 2.2 555,000 5.95 534,800 1.48 94,000 3.76 144,000 224 6,700 4.3 2,497,000 3.18 16,000 4.08 20,000 0.144 740,000 1.73 421,000 180.3 980,430 4.59 3,000 2.2 2,949,000 1.16 108,000

99,340,030 3,864,620 3,329,390 4,780,550 2,125,808 12,180 1,632,897 24,688,994 6,078,008 5,599,350 3,730,425 1,284,278.50 108,637 192,460 10,677,595 477,636 17,495,206 300,374 5,229,419 41,616,649 36,725,470 38,883,570.50 736,084 794,437 382,350 106,691,854 419,782.50 81,770 5,310 29,883,245 16,616,725 6,954,604 105,257,564 28,100 15,453,980 109,406,470 3,290 1,210,400 3,181,832 140,010 551,370 1,491,274 10,737,100 50,930 81,600 107,390 721,130 176,870,836 13,570 6,438,720 124,580

-48,123,600 339,160 -4,020,420 53,862 888 -10,092,518 -1,512,536 340,525 734,765.50 4,160 1,245,205 63,138 4,806,640 9,511 -3,417,888 -14,700,697 4,041,220 -3,871,803.50 3,300 0 -26,693,274 -23,004,320 -13,372,075 -2,243,098 -30,890,724 1,245,230 76,080,288 972,280 37,500 623,500 5,130 -9,223,589 -226,870 -

0.365 75.5 14.2 1.19 5.99 0.315 849.5 8.4 12.3 8 6.4 1,310 73.8 0.89 7.9 14.46 7.11 0.036 1.93 79.85 677 1.19 233 0.3 0.192 0.265

HOLDING FIRMS 0.395 49,720,000 76.7 1,998,360 14.2 6,526,600 1.26 2,000 5.99 22,500 0.33 350,000 852 322,340 8.48 556,400 12.3 16,621,900 8.1 2,076,400 6.4 1,200 1,310 237,700 74.6 2,439,860 1.03 48,550,000 7.9 357,800 14.7 2,625,700 7.15 26,861,500 0.038 8,100,000 1.93 143,000 80.3 148,100 680 521,080 1.19 106,000 235 4,740 0.3 630,000 0.202 1,130,000 0.265 40,000

18,372,650 152,631,552 93,123,628 2,450 134,975 110,750 274,160,455 4,711,179 206,801,796 16,817,208 7,680 313,748,430 181,434,315.50 48,468,340 2,835,984 38,485,736 192,279,880 297,900 277,120 11,864,070 354,099,645 126,140 1,113,104 190,100 220,300 10,600

15,250,000 -19,853,384 -58,858,690 10,003,985 3,163,625 43,453,794 14,674,698 -157,198,330 -63,110,828.50 830,630 -116,217 -4,498,426 -6,974,679 -75,660 -318,713.50 24,921,560 -

NAME

OPEN

HIGH

LOW

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

47 102.5 3.7 111.9 1.34 37.65 16.16 19 0.68 1.8 660 0.84 87 0.87 14.2 22.05 58.7 260 150 95.05 36.35 219 1,505 74.5 1.4

47.8 102.5 3.7 113.9 1.4 37.65 16.16 19.2 0.68 1.8 660 0.85 87 0.87 14.24 22.05 58.8 260 154 95.05 36.95 222 1,505 75.9 1.4

47 101.5 3.7 110.8 1.34 37.65 16.12 18.98 0.68 1.8 660 0.83 85.2 0.85 14.2 22.05 57.7 258 148 95.05 36.3 214 1,500 74.5 1.4

ABOITIZ POWER AGRINURTURE ALLIANCE SELECT ALSONS CONS ASIABEST GROUP BASIC ENERGY BOGO MEDELLIN CEMEX HLDG CENTURY FOOD CIRTEK HLDG CNTRL AZUCARERA CONCEPCION CONCRETE A CROWN ASIA DAVINCI CAPITAL DEL MONTE DNL INDUS EEI CORP EMPERADOR ENERGY DEVT FIRST GEN FIRST PHIL HLDG HOLCIM INTEGRATED MICR IONICS JOLLIBEE LIBERTY FLOUR MABUHAY VINYL MACAY HLDG MANILA WATER MAXS GROUP MEGAWIDE MERALCO MG HLDG PEPSI COLA PETRON PHIL H2O PHINMA ENERGY PHX PETROLEUM PHX SEMICNDCTR PRYCE CORP PUREFOODS RFM CORP ROXAS HLDG SPC POWER SWIFT FOODS TKC METALS UNIV ROBINA VICTORIAS VITARICH VULCAN INDL

45.5 3.9 1 1.46 17.56 0.203 127 11.2 16.64 23.5 40 59.2 102 2.1 7.13 12.9 11 7.4 7.27 5.94 22.85 69.95 16.5 6.15 2.03 246 80.6 4.16 26.55 30.6 27.75 15.9 285 0.255 3.1 10.28 3.29 2.19 5.95 1.48 3.76 220 4.3 3.2 4.08 0.146 1.72 184.8 4.4 2.17 1.15

45.6 3.91 1 1.47 18.8 0.203 149.9 11.28 16.9 23.5 40 65 105 2.13 7.48 12.98 11.1 7.4 7.3 5.94 23.45 70.4 16.66 6.15 2.03 247 93.45 4.16 26.55 30.6 28 15.9 285 0.26 3.13 10.7 3.29 2.2 5.95 1.5 3.9 224 4.3 3.2 4.08 0.146 1.73 184.8 4.59 2.21 1.16

ABACORE CAPITAL ABOITIZ EQUITY ALLIANCE GLOBAL ANGLO PHIL HLDG ANSCOR ATN HLDG A AYALA CORP COSCO CAPITAL DMCI HLDG FILINVEST DEV FJ PRINCE A GT CAPITAL JG SUMMIT LODESTAR LOPEZ HLDG LT GROUP METRO PAC INV PACIFICA PRIME ORION SAN MIGUEL CORP SM INVESTMENTS SOLID GROUP TOP FRONTIER UNIOIL HLDG WELLEX INDUS ZEUS HLDG

0.385 76.55 14.6 1.19 6 0.315 855 8.4 12.64 8.1 6.4 1,336 75.5 0.91 7.92 14.6 7.19 0.037 1.94 80.4 682.5 1.19 234.8 0.305 0.193 0.265

0.405 77.5 14.6 1.26 6 0.33 855 8.48 12.7 8.12 6.4 1,336 75.5 1.06 7.99 14.7 7.21 0.038 1.94 80.4 682.5 1.19 235 0.305 0.202 0.265

8990 HLDG A BROWN ARANETA PROP ARTHALAND CORP AYALA LAND BELLE CORP CENTURY PROP CITY AND LAND CITYLAND DEVT CROWN EQUITIES CYBER BAY DOUBLEDRAGON EMPIRE EAST FILINVEST LAND GLOBAL ESTATE IRC PROP MEGAWORLD MRC ALLIED PHIL REALTY

7.4 1.13 2.34 0.29 37 2.92 0.59 1.09 1.05 0.155 0.68 56.4 0.76 1.78 0.98 1.1 4.16 0.173 0.415

7.4 1.13 2.35 0.305 37 2.92 0.6 1.09 1.05 0.155 0.68 56.4 0.76 1.79 0.99 1.1 4.19 0.173 0.415

7.2 1.11 2.3 0.29 36.75 2.85 0.59 1.08 1.05 0.153 0.66 55.4 0.75 1.76 0.98 1.09 4.05 0.17 0.415

PROPERTY 7.2 1.11 2.3 0.29 37 2.9 0.6 1.08 1.05 0.153 0.66 55.8 0.75 1.77 0.98 1.09 4.09 0.17 0.415

VOLUME

100,400 362,000 1,377,000 4,730,000 10,340,800 6,944,000 1,077,000 67,000 1,000 1,280,000 11,453,000 298,230 125,000 7,876,000 562,000 65,000 26,602,000 13,280,000 10,000

723,393 402,420 3,174,320 1,391,000 382,070,805 19,801,120 636,690 72,730 1,050 196,170 7,615,840 16,642,501 93,760 13,949,810 551,070 71,000 109,056,950 2,272,840 4,150

525,741 -620,700 -14,500.00 -518,225 18,505,120 57,230 26,130 -5,964,505.50 -1,439,440 -28,487,200 25,500 -

OPEN

HIGH

LOW

VOLUME

VALUE

NET FOREIGN BUYING/(SELLING), PHP

PRIMEX CORP ROBINSONS LAND ROCKWELL SHANG PROP SM PRIME HLDG STA LUCIA LAND SUNTRUST HOME VISTA LAND

3.47 30 1.58 3.25 27.5 1 0.99 5.24

3.47 30.5 1.58 3.25 27.5 1.01 0.99 5.41

3.37 29.9 1.58 3.25 27.05 0.99 0.97 5.24

3.42 30.3 1.58 3.25 27.1 1.01 0.99 5.35

377,000 2,405,900 4,000 27,000 24,748,500 892,000 120,000 15,327,400

1,282,480 72,403,545 6,320 87,750 673,052,305 893,200 116,460 82,212,591

203,400 -38,318,870 -73,491,240 29,700 16,333,622

2GO GROUP ABS CBN APC GROUP APOLLO GLOBAL BERJAYA BLOOMBERRY BOULEVARD HLDG CALATA CORP CEBU AIR DFNN INC DISCOVERY WORLD FAR EASTERN U GLOBE TELECOM GMA NETWORK GOLDEN HAVEN HARBOR STAR IMPERIAL A INTL CONTAINER IP EGAME IPM HLDG ISLAND INFO ISM COMM JACKSTONES LBC EXPRESS LEISURE AND RES LIBERTY TELECOM LORENZO SHIPPNG MACROASIA MANILA JOCKEY MELCO CROWN METRO RETAIL MLA BRDCASTING NOW CORP PACIFIC ONLINE PAL HLDG PHIL RACING PHIL SEVEN CORP PHILWEB PLDT PREMIUM LEISURE PRMIERE HORIZON PUREGOLD ROBINSONS RTL SBS PHIL CORP SSI GROUP STI HLDG TRAVELLERS

7.65 47.35 0.54 0.06 5.21 5.84 0.086 3.1 107.9 6.79 2.52 956.5 1,820 6.26 13.76 2.17 16.32 75.15 0.0095 9.15 0.211 1.43 3.43 12.7 5.15 1.81 1.02 2.12 2 4.3 4.9 24 3.02 11.56 5.3 8.75 153 8.69 1,585 1.12 0.4 42.05 78 5.65 2.85 0.81 3.4

7.8 47.7 0.58 0.06 5.21 5.95 0.086 3.14 109 6.79 2.52 956.5 1,820 6.29 13.76 2.18 17.18 77.5 0.0095 9.18 0.212 1.5 3.59 13.46 5.26 1.81 1.02 2.12 2 4.36 4.95 25.35 3.06 11.72 5.3 9.99 160 8.73 1,585 1.13 0.41 42.05 78 5.7 2.86 0.83 3.43

7.65 47.15 0.54 0.056 5.21 5.8 0.083 3.06 106 6.78 2.52 956.5 1,795 6.26 13.4 2.1 16.3 74.8 0.0094 9.15 0.207 1.43 3.42 12.7 5.15 1.65 1.02 2.12 2 4.18 4.9 23.7 3 11.56 5.2 8.2 146 8.58 1,547 1.11 0.4 41.5 76.7 5.6 2.8 0.8 3.37

SERVICES 7.7 47.15 0.57 0.057 5.21 5.84 0.084 3.13 108 6.79 2.52 956.5 1,800 6.29 13.76 2.11 16.6 77.5 0.0094 9.18 0.209 1.48 3.59 13.4 5.26 1.73 1.02 2.12 2 4.2 4.92 23.7 3.02 11.72 5.2 8.75 158 8.59 1,553 1.13 0.405 42 77 5.7 2.81 0.82 3.4

83,700 4,900 6,019,000 94,000,000 700 7,840,200 29,310,000 1,529,000 333,730 79,300 12,000 80 85,760 95,200 71,500 1,903,000 10,500 564,200 25,000,000 507,000 12,120,000 1,978,000 8,000 24,500 1,727,200 317,000 3,000 5,000 15,000 20,463,000 2,501,000 17,400 982,000 2,248,300 12,900 140,400 670 461,000 151,730 7,156,000 150,000 648,200 285,810 97,900 719,000 7,462,000 604,000

648,200 231,550 3,409,010 5,391,880 3,647 45,913,370 2,442,060 4,744,150 35,802,484 538,227 30,240 76,520 154,658,575 598,782 973,110 4,045,070 172,876 42,861,277.50 235,800 4,654,050 2,534,960 2,946,210 27,590 317,670 9,033,161 550,960 3,060 10,600 30,000 86,250,000 12,311,510 422,370 2,964,760 25,991,068 67,260 1,184,829 103,669 3,977,864 236,086,430 8,039,510 60,300 27,024,240 21,982,860 550,517 2,028,430 6,076,200 2,050,370

16,346 -56,000 369,410 15,699,134 420,000 9,811,426 -72,959,725 6,872 340 -4,071,262.50 152,170 38,000 1,052,000 -23,673,090 2,297,410 302,000 520 20,260 579,152 -107,701,615 -264,970 -11,456,655 -9,175,993 140,570 1,036,320 30,090

ABRA MINING APEX MINING ATLAS MINING BENGUET A BENGUET B COAL ASIA HLDG DIZON MINES FERRONICKEL GEOGRACE LEPANTO A LEPANTO B MANILA MINING A MARCVENTURES NICKEL ASIA NIHAO ORNTL PENINSULA ORNTL PETROL A PX MINING PXP ENERGY SEMIRARA MINING TA PETROLEUM UNITED PARAGON

0.0035 3 4.12 2.06 2.05 0.4 8.03 1.22 0.275 0.201 0.205 0.011 1.66 6.9 2.79 0.96 0.011 8.29 4.06 126.1 3.29 0.0091

0.0036 3 4.12 2.3 2.23 0.4 8.79 1.24 0.275 0.204 0.205 0.011 1.69 6.98 2.83 1.01 0.012 8.37 4.25 127 3.29 0.0094

0.0035 2.98 4.07 2.04 2.05 0.39 8.03 1.21 0.27 0.198 0.205 0.011 1.6 6.75 2.75 0.95 0.011 8.18 4.04 125 3.15 0.0091

MINING & OIL 0.0035 42,000,000 2.98 110,000 4.07 266,000 2.25 248,000 2.23 86,000 0.4 370,000 8.5 66,100 1.21 18,847,000 0.27 90,000 0.198 4,110,000 0.205 500,000 0.011 10,000,000 1.67 470,000 6.97 4,156,900 2.75 69,000 1.01 195,000 0.012 3,800,000 8.3 989,400 4.1 6,985,000 126.9 470,310 3.15 50,000 0.0094 7,000,000

150,500 329,060 1,093,010 543,320 181,440 147,500 561,456 22,979,380 24,350 826,380 102,500 110,000 761,750 28,677,546 191,660 190,520 41,900 8,173,038 29,046,810 59,611,195 158,200 64,500

-45,120 -103,750 1,089,050 1,464,152 520,192.00 -306,260 30,052,696 -6,580 -

ABS HLDG PDR DD PREF FGEN PREF F GLO PREF P GTCAP PREF A GTCAP PREF B PCOR PREF 2B PF PREF 2 SFI PREF SMC PREF 2C SMC PREF 2D SMC PREF 2E SMC PREF 2F SMC PREF 2G SMC PREF 2I

46.9 104 109.9 539 1,000 1,000 1,160 1,028 2 80.05 76 77.5 79.05 79 78

46.9 104.1 109.9 540 1,008 1,020 1,160 1,028 2 82 76 77.5 79.05 79 78

46.6 104 109.9 539 1,000 1,000 1,160 1,028 2 80.05 76 77.5 79.05 79 78

PREFERRED 46.85 17,800 104 38,280 109.9 50 539 3,450 1,008 34,060 1,004 21,040 1,160 10 1,028 300 2 26,000 80.05 26,260 76 1,000 77.5 6,200 79.05 200 79 4,500 78 256,600

831,880 3,981,152 5,495 1,862,350 34,116,000 21,054,845 11,600 308,400 52,000 2,102,382.50 76,000 480,500 15,810 355,500 20,014,800

-541,410 1,560,000 1,000,000 6,880,000 50,000 465,000 -

LR WARRANT

2.5

2.35

WARRANTS 2.41 190,000

452,870

ALTERRA CAPITAL ITALPINAS XURPAS

4.2 3.98 12.12

4.24 4.07 12.36

3.34 3.96 11.6

SME 3.45 3.97 11.86

111,176,840 433,270 43,244,154

79,010 48,800 -1,843,902

FIRST METRO ETF

123.8

122.8

2,472,253

NAME

TRADING SUMMARY FINANCIAL INDUSTRIAL HOLDING FIRMS

10,969,401 54,195,491 173,892,092

PROPERTY

130,497,763

SERVICES

234,163,795

MINING & OIL

101,772,405

GRAND TOTAL

738,813,710

29,542,000 108,000 3,642,800

EXCHANGE TRADED FUNDS 122.9 20,100

VALUE 1,813.97 (UP) 2.27 798,013,317.75 FINANCIAL INDUSTRIAL 11,616.75 (DOWN) 147.80 903,019,132.93 HOLDING FIRMS 7,479.16 (DOWN) 51.65 2,099,353,598.87 PROPERTY 3,302.38 (DOWN) 25.12 SERVICES 1,432.18 (DOWN) 3.33 1,392,796,046.87 MINING & OIL 11,519.68 (UP) 27.43 997,231,787.37 PSEI 7,445.14 (DOWN) 49.27 153,992,268.978 All Shares Index 4,419.30 (DOWN) 22.59 6,501,771,045.26 Gainers: 75; Losers: 102; Unchanged: 41; Total: 218

duce output, that had sent prices soaring. While edging up slightly Thursday, both main contracts have tumbled more than three percent this week and news that US stockpiles had fallen more than expected last week was unable to provide much support. “Iraqi demands to join the list of countries exempted from quotas have simply added to the uncertainty” that an output cut can be implemented, Research firm Capital Economics said in a commentary. “We have long been skeptical of the chances of a game-changing deal and continue to forecast that both Brent and WTI will end the year back at around $45 per barrel.” Regional energy firms extended recent losses. Hong Kong-listed CNOOC sank almost three percent, with traders also selling on the back of a weak earnings report. PetroChina lost 2.4 percent in Hong Kong, while Sydney-listed Woodside Petroleum was 1.5 percent off and Santos lost two percent. Among regional markets Tokyo ended down 0.3 percent after closing Wednesday at a six-month high. Japanese IT firm Fujitsu was the stand-out performer, soaring almost eight percent on news it was in talks to merge its struggling PC unit with Chinese computer giant Lenovo. With AFP, Bloomberg

Petron issues P20-b bonds

By Alena Mae S. Flores OIL refiner Petron Corp. said Thursday it issued and listed P20 billion worth of fixedrate bonds to retail investors, which represents the base offer of P15 billion and the oversubscription of P5 billion. The listing is the first tranche of Petron’s shelf registration of P40 billion of fixed-rate bonds. Petron said the issue was twice oversubscribed over the base offer and was priced at the tight end of the marketing range. This is Petron’s first listing in the Philippine Dealing & Exchange Corp. “We are very pleased with the outcome of our fundraising exercise. The success of the transaction underscores Petron’s leadership position in the industry as well as its long-term growth potential,” Petron president and chief executive Ramon Ang said. PhilRatings assigned Petron’s issue with a PRS Aaa, its highest credit rating. Obligations rated PRS Aaa are of the highest quality with minimal credit risk. The P20-billion fixed rate bonds consist of Series A Bonds involving P13 billion maturing in five years with an interest rate of 4.0032 percent per annu and Series B Bonds with P7 billion maturing in seven years with an interest rate of 4.5219 percent per annum. Petron said the proceeds would be used primarily to refinance existing indebtedness and fund working capital requirements. Petron commissioned a $2-billion refinery upgrade at the start of the year which increased its capability to produce more high-value fuels and petrochemicals. The refinery upgrade is supported by expanding retail network which now stands at 2,250 service stations, bigger than three of its biggest rivals combined.

Business ABOITIZ Equity Ventures Inc. said it is interested in the $1.65-billion redevelopment of Ninoy Aquino International Airport under the public-private partnership scheme. “I think it is fair to say that everyone is interested in Naia. Who isn’t? It’s the main gateway to the Philippines. At this stage, the details are very vague,” AEV ﬁrst vice president for business development Roman Azanza III told reporters. Other conglomerates that expressed interest to join the Naia redevelopment project were Metro Paciﬁc Investments Corp., Ayala Corp., San Miguel Corp, JG Summit Holdings Inc. and Lucio Tan’s Asia’s Emerging Dragon Corp. The Transportation Department said the bid submission for the project would likely be in August next year. The award and signing of the concession agreement is expected in September 2017. Darwin G. Amojelar

fell 12.6 percent to P12.6 billion. Metrobank said its performance was driven by sustained low-cost funds generation and robust loan demand coming from corporate expansion, project ﬁnancing and infrastructure spending. “We are pleased with the positive trends we see in our core business. Low cost funding remains healthy. our margins are improving amid heavy competition, and loan demand is better than we originally expected,” said Metrobank president Fabian Dee. “It’s also very encouraging that growth prospects abound, and with our strong capital position. it gives us the leverage to sustain this momentum moving forward” Dee said. Metrobank said The bank said casa (current account, savings account) deposits sustained a high growth rate of 21 percent to P790.8 billion. Casa ratio improved to 63 percent of the total P1.2-trillion deposit base, from 56 percent year ago. Net loans and receivables surged 26 percent year-on-year to P965.1 billion and accounted for 56 percent of total assets. Gabrielle H. Binaday

Maibarara starts expansion project

Mitsubishi to hike PH car production

IN BRIEF Aboitiz interested in Naia privatization

STO. TOMAS, Batangas—Maibarara Geothermal Inc. on Thursday broke ground for the construction of a 12-megawatt power plant as a part of an expansion project that will bring the total capacity of the facility to 32 MW once completed by the fourth quarter of 2017. “We target Maibarara-2 to be online by fourth quarter 2017. Thus, we expect revenues to increase further by 2018 along with our royalty remittances and tax payments to our host LGU,” Maibarara Geothermal chairman Milagros Reyes said. Reyes said Maibarara-2 would be the fourth power station completed by parent company PetroGreen Energy Corp. in four years following the 20MW Mainarara-1 power plant in 2014, 36-MW Nabas-wind in 2015 and the 50-MW Tarlac-1 solar facility in 2016. Maibarara Geothermal, the owner and developer of the Maibarara geothermal power facility, is a joint-venture company owned by PetroGreen Energy Corp. with 65 percent, Phinma Energy Corp. with 25 percent and PNOC Renewables Corp. with 10 percent. Alena Mae S. Flores

Metrobank’s proﬁt falls 12% to P12.6b

METROPOLITAN Bank & Trust Co., the second-largest bank in terms of assets, said net income in the ﬁrst nine months

MITSUBISHI Motors Corp. on Thursday expressed interest to expand its car production in the Philippines. MMC signed a letter of intent Thursday during a meeting in Tokyo with Philippine government ofﬁcials led by President Rodrigo Duterte indicating its plan to expand production operation in the Philippines. Mitsubishi Motors Philippines Corp., the Philippine unit of MMC, received a government approval in June to participate in the Comprehensive Automotive Resurgence Strategy program. The LOI reconfirmed MMC and the Trade Department’s commitment on the Cars program under the Duterte administration. Mitsubishi will participate in the Cars program through local production of the Mirage hatchback starting January 2017. Meanwhile, Agriculture Secretary Emmanuel Piñol said the Agriculture Department signed an agreement with a Japanese company for the supply of 20 million boxes of Cavendish bananas to the Japanese market every year. Piñol said the deal with Farmind Corp. was expected to earn for the country some P5 billion every year. “The signing of the agreement will mark the start of the development of about 7,000 hectares of banana farms which the Japanese company, Farmind Corp., would like to be located in former conﬂict areas in the Southern Philippines,” Piñol said. Othel V. Campos

CONTENTIOUS DEAL. The head of the Wallon government Paul Magnette (right) arrives for an emergency meeting of all Belgium federal entities on the EU-Canada Comprehensive Economic and Trade Agreement in Brussels on October 27, 2016. Belgium’s political leaders looked on October 27 to a new round of talks aimed at resolving differences that have blocked a landmark EU-Canada free trade deal. AFP

UK economy grows 0.5% despite Brexit T

Porkenomics THE successful visit of President Rodrigo Duterte in China plus the seeming fondness of Chinese President Xi Jinping (who will most likely see his term extended) for his Filipino counterpart would probably be good for hog raisers in the Philippines since it could open up more opportunities for business. After all, the Chinese could not survive without eating meat considering that they consume half the world’s pork. According to reports, pork accounts for 60 percent of all the meat consumed by the Chinese, and the demand has become so high that Chinese hog raisers could hardly keep up even with about 450 million pigs being raised. Data from the US Department of Agriculture says an estimated 2.4 million tons of pork will be imported by China in 2016 alone—three times the 761,000 tons imported two years ago. The same USDA report also says the Chinese are expected to consume an estimated 54.6 million tons of pork this year. A lot of issues have been plaguing the pork industry in China, among them the sale of contaminated meat from unscrupulous traders. It can be recalled that in 2013, a great scandal broke at the discovery of thousands of dead pigs ﬂoating along Huangpu River in Shanghai—driving fears of poisoning since the river is a major source of drinking water. Last year, 110 people were also arrested by Chinese authorities for allegedly selling “double dead” pork—you know, pigs that had died of disease and then “killed” again or slaughtered for sale. More than 1,000 tons of contaminated pork was also conﬁscated during the crackdown which was really just a tip of the iceberg. Walmart China has announced the opening of a Walmart Food Safety Collaboration Center in Beijing and the launch of a “blockchain” pilot project to solve the problem of contaminated pork being sold in the market. Using technology plus a team of logistics and food safety experts, the blockchain system will monitor records from batch numbers, factory and processing information, expiration dates, storage temperatures down to shipping details to make sure that pork (and other food items) sold to consumers from Walmart stores are safe and secure. In the Philippines, local hog raisers are asking the government to help them produce pork that would be up to par with global standards. Members of the Pork Producers Federation of the Philippines Inc., or ProPork, are urging Agriculture Secretary Manny Piñol to push through with the construction of a triple A (“AAA”) slaughterhouse in Bulacan to boost their chances to export pork. A triple A slaughterhouse is one whose facilities and operations are suitable for both domestic and international markets. Slaughterhouses rated “A” are those that are appropriate for cities or municipalities while “AA” slaughterhouses can cater to the domestic market. According to ProPork, a triple A slaughterhouse will cost an estimated P360 million-–and the establishment of such a facility in Bulacan will help producers come up with worldclass pork suitable for the export market. Industry sources say that at present, there are only four triple A slaughterhouses in the country and these are operated by private companies: San Miguel-Monterey in Cavite, Sunpride Foods in Mandaue City, Nestfarms in Davao City and Matutum Meat Packing Corp. in South Cotabato. Hopefully, hog raisers will have better chances with the current Agriculture secretary who has promised to study the proposal. During the previous administration, the construction of a triple A abattoir in Tanauan, Batangas—which is projected to process at least 250 pigs per day—was started but it has yet to be completed. ••• For comments, reactions, photos, stories and related concerns, readers may email to happyhourtoday2012@yahoo. com. You may also visit and like our Facebook page https:// www.facebook.com/happyhourmanilastandard. Cheers!

FRIDAY, OCTOBER 28, 2016 extrastory2000@gmail.com

HE UK economy grew faster than economists forecast in the third quarter, with services singlehandedly ensuring resilience against any Brexit fallout.

The 0.5 percent expansion was better than the 0.3 percent median forecast of economists in a Bloomberg survey. Services surged 0.8 percent, offsetting declines in construction and production, its performance helped by box-ofﬁce receipts for summer movies including Jason Bourne and Star Trek. The report covers the period since the vote in June to leave the European Union, as Britain came to terms with a decision that sparked a change of prime minister, a sharp drop in the pound, price spats between companies and the ﬁrst Bank of England interest-rate cut in seven years.

“There is little evidence of a pronounced effect in the immediate aftermath of the vote,” Office for National Statistics Chief Economist Joe Grice said in a statement on Thursday. The expansion in the three months through September—though slower than the 0.7 percent in the previous quarter— marked a 15th straight quarter of growth. Only three of 50 economists surveyed by Bloomberg correctly predicted the number, with everyone else forecasting a weaker reading. The BOE, which revised up its estimate last month, saw a 0.3 percent pace. It may mean the Bank of England is less likely to cut interest rates at its decision next week. While Governor Mark Carney has said another loosening was possible, accelerating inflation and stronger-than-anticipated growth may stay his hand. Nevertheless, with economists forecasting that the Brexit effect may take time to filter

through the economy, they see growth slowing to about 1 percent next year, about half the pace expected for 2016. Economists at Bloomberg Intelligence in London say there’s a chance that a BOE rate cut may only be postponed in November until early next year. The latest data also show the imbalanced nature of UK growth, with services adding 0.6 percentage point to GDP in the quarter. Both production and construction were a drag on growth. The ﬁnancial industry accounts for a large portion of services, and its future may be at risk because of Brexit. Mark Garnier, the UK’s trade minister, told Bloomberg this week that global banks will probably lose their current legal rights to provide services in the EU as Britain splits from the bloc. He said that an alternative system that’s been ﬂoated, known as equivalence, was probably not going to be “good enough” for banks. Bloomberg

Nokia reduces losses

HELSINKI, Finland―Finnish telecom equipment giant Nokia said Thursday it has managed to reduce losses but remained in the red in the third quarter after acquiring its former rival, French-American Alcatel-Lucent. The world’s former number one in handsets, which turned into a telecom equipment maker, reported a net loss of 125 million euros ($135 million) in the third quarter after a 665-million-euro loss in the previous quarter ($725 million). Thanks to the Alcatel-Lucent acquisition, the company’s net sales grew by nearly 94 percent to 5.89 billion euros from 3.04 billion for Nokia alone a year before (to $6.43 billion from $3.32 billion). Nokia’s chief executive Rajeev Suri described the results as solid “despite market conditions that are softer than expected.” While the global slowdown in the construction of new telecom networks continues to put pressure on the company, Suri expressed satisfaction with an “excellent quarter” from the Fixed Networks business and from Nokia Technologies business unit which beneﬁted from a recent licensing agreement with South Korean Samsung. “The results also reﬂect another excellent quarter from Fixed Networks, which improved both net sales and profitability from one year ago,” Suri said in a statement. AFP

A pedestrian walks underneath rows British Union ﬂags suspended above Regent Street in London, UK, on Tuesday, May 24, 2016. UK.retail sales began the second quarter with more momentum than economists forecast. Bloomberg

Rinehart raises bid for cattle empire SYDNEY, Australia―Australian mining magnate Gina Rinehart on Thursday increased her joint offer with a Chinese company for one of the world’s biggest cattle estates, to fend off a rival bid by an all-Australian consortium. Rinehart’s Hancock Prospecting and Chinese property developer Shanghai CRED raised their offer to Aus$386.5 million (US$295 million) from Aus$365 million for Australia’s biggest private landowner―cattle ﬁrm S. Kidman and Co.―days after four wealthy grazier families launched their own Aus$386million bid. The local families had argued their proposal was better as it did not need approval from the Foreign Investment Review Board (FIRB). While the Kidman sale has at-

tracted keen interest from Chinese ﬁrms wanting to secure the sprawling pastoral empire, the government has previously rejected two Chinese-led bids, citing the national interest. The Rinehart-led bid was supported by Kidman’s board, which “unanimously recommended” it to their shareholders in the absence of a superior proposal. “Under the Hancock (joint venture) offer the core Kidman business will remain intact and the Kidman staff and legacy will be looked after,” Kidman chairman John Crosby said in a statement. Rinehart, Australia’s richest woman, also pledged to buy Kidman fully if the AustralianChinese joint offer―in which Hancock acquires 67 percent of Kidman and Shanghai CRED 33

percent―was knocked back by Canberra or Beijing. “I stand behind the bid and should FIRB or PRC (China) approvals not be achieved, then Hancock will proceed with the acquisition on a 100 percent basis,” Rinehart said in a statement. “I hope this provides shareholders with signiﬁcant comfort and that when they consider the offer they can do so in the knowledge that there is no FIRB or PRC execution risk, and further that we have the money to invest to properly maintain the stations and their hard-working staff.” Shanghai CRED was part of a Chinese consortium involved in the previous offers. The Chinese stake in the new joint bid, if approved, would be signiﬁcantly smaller than before. AFP

CYAN MAGENTA MAGENTA YELLOW YELLOW BLACK BLACK CYAN Manila Manila

Republic of the Philippines Standard TODAY ENERGY REGULATORY COMMISSION

TODAY

San Miguel Avenue, Pasig City

IN THE MATTER OF THE APPLICATION FOR THE APPROVAL OF THE SALE OF VARIOUS SUB-TRANSMISSION LINES/ASSETS OF THE NATIONAL TRANSMISSION CORPORATION (TRANS CO) TO THE CONSORTIUM OF VISAYAN ELECTRIC COMPANY, INC. (VECO) AND CEBU II ELECTRIC COOPERATIVE, INC. (CEBECO II) ERC CASE NO. 2016-145 RC NATIONAL TRANSMISSION CORPORATION (TRANSCO) AND THE CONSORTIUM OF VISAYAN ELECTRIC COMPANY, INC. (VECO) AND CEBU II ELECTRIC COOPERATIVE, INC. (CEBECO II), Applicant.

NOTICE OF PUBLIC HEARING TO ALL INTERESTED PARTIES: On 28 June 2016, National Transmission Corp. (TRANSCO) and the consortium of Visayan Electric Co., Inc. (VECO) and Cebu II Electric Cooperative, Inc. (CEBECO II) [hereinafter, “Consortium”] filed their joint Application for the approval of the sale of various sub-transmission lines/assets of TRANSCO to the Consortium. In support of the said Application, TRANSCO, VECO, and CEBECO II alleged the following: 1.

TRANSCO is a government-owned and controlled corporation created and existing by virtue of R.A. No. 9136, otherwise known as the Electric Power Industry Reform Act of 2001 (EPlRA), with principal office address at the TRANSCO Main Building, Quezon Avenue corner BIR Road, Diliman, Quezon City.

VECO is an electric distribution utility (DU) organized and existing under the laws of the Republic of the Philippines, with principal office address in J. Panis Street, Banilad, Cebu City, Philippines. It is a duly authorized distribution utility of electric power in the municipalities of San Fernando, Minglanilla, Consolacion and Lilo-an and the Cities of Naga, Talisay, Cebu and Mandaue, all in the province of Cebu, pursuant to its franchise under Republic Act No. 9339.

CEBECO II is an electric cooperative (EC) duly organized and existing under the laws of the Republic of the Philippines, with principal office address in Malingin, Bogo City, Cebu, Philippines.

On 19 January 2016, VECO and CEBECOII entered into an Amended Consortium / Co-Ownership Agreement forming a Consortium for the specific purpose of jointly acquiring, operating and maintaining TRANSCO’s sub-transmission assets subject matter of the instant Joint Application. Attached as Annex “A” is a copy of the Amended Consortium/Co-Ownership Agreement.

By virtue of Section 8 of the EPlRA, TRANSCO assumed the electrical transmission functions of the National Power Corporation, and the responsibility of the latter for the planning, construction and centralized operation and maintenance of high voltage transmission facilities, including grid interconnections and ancillary services. .

Section 8 of the EPlRA and Rule 6, Section 8 (e) of the EPIRA’s Implementing Rules and Regulations (IRR) also mandate the segregation of the transmission and sub-transmission functions and assets for transparency and disposal, and authorize TRANSCO to negotiate for, and to transfer such sub-transmission assets (STAs) and facilities to qualified distribution utilities (DUs). Pursuant thereto, this Honorable Commission promulgated the “Guidelines on the Sale and Transfer of the TRANSCO’s Subtransmission Assets and the Franchising of Qualified Consortiums” (ERC Guidelines) dated 17 October 2003, as amended by Resolution NO.3, Series of 2005 dated 17March 2005 which set forth among others, the standards to distinguish TRANSCO’s transmission assets from its sub transmission assets and establish the approval process prior to the final sale and transfer of STAs to DUs.

Consistent with the ERC Guidelines, TRANSCO adopted its own Guidelines on the Sale of Subtransmission Assets (TRANSCO Guidelines) [Annex “B”] as approved by TRANSCO Board Resolution No. TC-2003-067 dated 28 November 2003 (Annex “C”), as further amended by TRANSCO Board Resolution No.TC-2004-009 dated 16 March 2004 (Annex “D”).

On 16 July 2011, this Honorable Commission issued Resolution No. 15, Series of 2011 entitled “A Resolution Adopting the Amended Rules for the Approval of the Sale and Transfer of TRANSCO’s Subtransmission Assets and the Acquisition by Qualified Consortiums.”

10.

In accordance with the aforesaid ERC Guidelines, and based on a thorough evaluation conducted by TRANSCO, it was determined that the Compostela-Consolacion 69 kV line is a sub-transmission asset. Copies of the Report regarding the nature of the asset and List of STA/s for sale to the Consortium are attached as Annexes “E”, “F” respectively.

11.

On 26 December 2012, TRANSCO and the Consortium concluded a Contract to Sell (Annex “G”) for the acquisition of the CompostelaConsolacion 69 kV line for the purchase price of Twenty Seven Million Eight Hundred Twenty Nine Thousand One Hundred Seventy Six and 48/100, Philippine currency (PhP27,829,176-48), which includes the twelve percent value-added tax (12% VAT) of Two Million Nine Hundred Eighty One Thousand Six Hundred Ninety Seven and 48/100, Philippine currency (PhP2,981,697-48). The length of the line indicated in the said Contract to Sell is 16.70 kilometers.

12.

After subsequent verification with the National Grid Corporation of the Philippines (NGCP), and based on the revised Single Line Diagram (Annex “H”), it was established that the length of the line is 14.50 kilometers and not 16.70 kilometers, thereby necessitating the reduction of the purchase price.

13.

On 17 March 2016, TRANSCO and the Consortium concluded an Amended Contract to Sell (Annex “I”), incorporating the reduced purchase price from that of PhP27,829,176-48 to that of Eighteen Million Two Hundred Six Thousand One Hundred Sixty Four and 40/100, Philippine currency (PhP18,206,164-40) plus 12% VAT of Two Million One Hundred Eighty Four Thousand Seven Hundred Thirty Nine and 73/100, Philippine currency (PhP2,184,739.73), or a total of Twenty Million Three Hundred Ninety Thousand Nine Hundred Four and 13/100, Philippine currency (PhP20,390,904.13), net of adjustments and deductions, which the Consortium shall pay in cash or in the form of Manager’s or Cashier’s check within sixty (60) calendar days from notice of the Honorable Commission’s approval of this Joint Application.

14.

Said purchase price is based on the 2014 Sinclair Knight Merz (SKM) rolled forward valuation (Annex “J”).

15.

TRANSCO has clearly established that the Consortium satisfies the financial and technical capability criteria under Article IV of the ERC Guidelines in acquiring, operating, maintaining, upgrading and expanding the subject STAs.

16.

In support of the above allegations are the following relevant documents: a. Financial Qualification Evaluation of VECO and CEBECO II, respectively (Annexes “K” and “K-1”); b. Technical Qualification Evaluation of VECO and CEBECO II, respectively (Annexes “L” and “L-1”); c. Audited Financial Statements of VECOas of 31 December 2013 and 31 December 2014 (Annex “M”); and, d. Audited Financial Statements of CEBECO II as of 31 December 2013 and 31 December 2014 (Annex “N”).

17.

Finally, applicants respectfully submit the following documents in compliance with the Honorable Commission’s requirements: a. Draft Deed of Absolute Sale (Annex “O”); b. Franchise Description (Annex “P”); c. List of Connected Distribution Utilities and Directly Connected Entities (Annex “Q”); d. VECO’ Secretary’s Certificate dated 22 October 2015 (Annex “R”); e. CEBECO II Board Resolution No. 119, Series of 2015 (Annex “S”); and, f. CEBECO II Board Resolution No. 103, Series of 2012 (Annex “T”).

18.

The proposed sale has satisfied all of the requirements and criteria set by the EPIRA and its IRR, as well as the ERC and TRANSCO’s Guidelines on the Sale of Subtransmission Assets.

19.

The approval by this Honorable Commission of the instant Joint Application shall pave the way for the attainment of a reformed electricity industry under the EPIRA, which would ultimately best serve the interest of the consuming public.

Tutuban’s Cloud Nine By Sandy Araneta

RESERVE YOUR AD SPACE NOW! email us at advertise@ the standard.com. ph or call us at 832-5547

Applicants also pray for other just and equitable relief. The Commission has set the Application for determination of compliance with jurisdictional requirements, expository presentation, Pre-trial Conference, and presentation of evidence on 09 November 2016 (Wednesday) at ten o’clock in the morning (10:00 A.M.) at CEBECO II’s Danao Area Office, Tuburan Sur, Danao City, Cebu. All persons who have an interest in the subject matter of the proceeding may become a party by filing, at least five (5) days prior to the initial hearing and subject to the requirements in the 2006 Rules of Practice and Procedure, a verified petition with the Commission giving the docket number and title of the proceeding and stating: (1) the petitioner’s name and address; (2) the nature of petitioner’s interest in the subject matter of the proceeding, and the way and manner in which such interest is affected by the issues involved in the proceeding; and (3) a statement of the relief desired. All other persons who may want their views known to the Commission with respect to the subject matter of the proceeding may file their opposition to the Application or comment thereon at any stage of the proceeding before Applicants conclude the presentation of its evidence. No particular form of opposition or comment is required, but the document, letter or writing should contain the name and address of such person and a concise statement of the opposition or comment and the grounds relied upon. All such persons who wish to have a copy of the Application may request from the Applicants that they be furnished with the same, prior to the date of the initial hearing. Applicants are hereby directed to furnish all those making such request with copies of the Application and its attachments, subject to the reimbursement of reasonable photocopying costs. Any such person may likewise examine the Application and other pertinent records filed with the Commission during the standard office hours. WITNESS, the Honorable Chairman JOSE VICENTE B. SALAZAR, and the Honorable Commissioners ALFREDO J. NON, GLORIA VICTORIA C. YAP-TARUC, JOSEFINA PATRICIA A. MAGPALE-ASIRIT, and GERONIMO D. STA. ANA, ANA Energy Regulatory Commission, this 20th day of September 2016 in Pasig City. ATTY. NATHAN J. MARASIGAN Chief of Staff Office of the Chairman and CEO (MS-OCT. 21 & 28, 2016)

N OTICE

Notice is hereby given that ROBINSONS LAND CORPORATION, with office address at 40th Floor Robinsons-Equitable Tower, ADB Avenue corner Poveda Road, Ortigas Center, Pasig City is applying for registration with the Board of Investments (BOI) as an Expanding Developer of Economic and Low-cost Housing Project (Axis Residences (Phase 1) - Tower B-RLC) with a capacity of 456 residential units on a Non-Pioneer status, with project site at Pioneer St., Barangay Bangkal Ilaya, Mandaluyong City. Any person with valid objection/s on the abovementioned project may file his/her objection in writing, under oath, with the BOI within three (3) days from the date of this publication. (SGD.) RAFAELITO H. TARUC Director (MS-OCTT. 28, 2016)

Purchase of Grocery Items GOODS 100-16-10-049 1.

The Local Government of Dinalupihan, through General Fund intends to apply the sum of Five Million Four Hundred Thousand Pesos (Php5,400,000.00) being the Approved Budget for the Contract (ABC) to payments under the contract for the Purchase of Grocery Items. Bids received in excess of the ABC shall be automatically rejected at bid opening.

The Local Government of Dinalupihan now invites bids for the Purchase of Grocery Items. Procurement is required upon receipt of Notice to Proceed. Bidders should have completed, within two (2) from the date of submission and receipt of bids, a contract similar to the Project equivalent to at least fifty percent (50%) of the ABC. The description of an eligible bidder is contained in the Bidding Documents, particularly, in Section II Instructions to Bidders.

Bidding will be conducted through open competitive bidding procedures using a non-discretionary “pass/fail” criterion as specified in the Implementing Rules and Regulations (IRR) of Republic Act (RA) 9184, otherwise known as the “Government Procurement Reform Act”.

Bidding is restricted to Filipino citizens/sole proprietorships, partnerships, or organizations with at least sixty percent (60%) interest or outstanding capital stock belonging to citizens of the Philippines, and to citizens or organizations of a country the laws or regulations of which grant similar rights or privileges to Filipino citizens, pursuant to RA 5183 and subject to Commonwealth Act 138.

Interested bidders may obtain further information from the Bids and Awards Committee and inspect the Bidding Documents at the address given below during office hours at 8:00 am to 5:00pm.

A complete set of Bidding Documents may be purchased by interested Bidders on October 26 to November 5, 2016 from the address below and upon payment of a nonrefundable fee for the Bidding Documents in the amount of Ten Thousand Pesos (Php10, 000.00).

Pre-bid conference will be held on November 3, 2016 at 10:00 am at BAC Office 2nd Floor Municipal Bldg. Dinalupihan Bataan

Bids must be delivered to the address below on or before November 7, 2016 at 10:00 am. All Bids must be accompanied by a bid security in any of the acceptable forms and in the amount stated in ITB Clause 18.

Bid opening shall be on November 7, 2016 at 10:00 am at BAC Office 2nd Floor Municipal Building, Municipality of Dinalupihan, Dinalupihan, Bataan. Bids will be opened in the presence of the Bidders’ representatives who choose to attend at the address below. Late bids shall not be accepted.

UTUBAN Center, the bargain hunter’s paradise, has unveiled new and exciting features to puff up your shopping experience.

The center recently underwent a number of renovation work and building improvements. With the holiday season round the corner, shoppers will make a beeline for the great deals in Tutuban Center’s Main Station and Prime Block. Tutuban Center Main Station, with the Bonifacio Shrine across its entrance, is a heritage building where the original train station built in the 19th century first stood. As a heritage building, steps were taken to preserve its history including repainting based on the heritage color palette, and improving lighting for its facade details. The building has also retained features like brick walls and century-old wrought iron pillars that lead all the way to the food court. The new and more spacious food court will soon offer some of Divisoria and Binondo’s best food brands like El Presidente, Kikiam in Ilaya, King’s Bakeshop and Eng Ho. Refreshing drinks and snacks from several food carts are also available. Picnic tables can comfortably seat shoppers taking a break. The Main Station holds the mall’s retail shops, restaurants, and service stores. This connects to the Prime Block, which offers Tutuban Center’s revitalized shopping experience. Three shopping levels of pure bargain buying pleasure await visitors. “We have introduced a cluster of stalls in level 3 of the Prime Block, now tagged as the Prime Block Clusters,” explained Norie Raniel, Tutuban Center deputy general manager/operations head.

“Merchandise zoning has been improved in the Prime Block building so that shoppers will find everything they want and need in each area.” The Prime Block Clusters is anchored by Anding’s Toys and Flowers Inc., which offers so much more than its name. Everything from party favors, garden accessories and holiday decor is offered by the establishment. Anding’s has been in business for over 20 years and counts large malls and merchants among its clients. Its merchandise is so wonderfully varied that the store takes up about 317 square meters or about 18 stalls. The Prime Block offers a shopper’s dream of choices, while seeing to their comfort and security. Clothes for every occasion, the latest RTW, even costumes and sleepwear are organized. Footwear, bags and fashion accessories are there to match the outfit of the day. Fabrics, patches, beads and other trimmings are available for people who prefer DIY fashion projects. General merchandise stores offer an array of home and personal items ranging from hardware and cookware, to school supplies and bath accessories. Houseware, linens and curtains also abound. Entrepreneurs and small business owners will find their supplies of cosmetics, personal care, grooming kits, spa and salon supplies available here. Party planners will find the Prime Block a one-stop shop for colorful gift items, wall and table decorations, toys and games, and costume accessories.

For further information, please refer to: (SGD) AMELITA E. PEÑAFLOR BAC Chairman LGU Dinalupihan Dinalupihan, Bataan Telephone No. (047) 636-0060 (SGD) ARCELI M. SAMSON BAC Secretariat LGU Dinalupihan Dinalupihan, Bataan Telephone No. (047) 612-2099

(T S-O C T. 2 8 , 2016)

Purchase of Foods for Various Activities of the Municipality GOODS 100-16-10-048 1.

The Local Government of Dinalupihan, through General Fund intends to apply the sum of Two Million Four Hundred Thousand Pesos (Php2,400,000.00) being the Approved Budget for the Contract (ABC) to payments under the contract for the Purchase of Foods for Various Activities of the Municipality. Bids received in excess of the ABC shall be automatically rejected at bid opening. The Local Government of Dinalupihan now invites bids for the Purchase of Foods for Various Activities of the Municipality. Procurement is required upon receipt of Notice to Proceed. Bidders should have completed, within two (2) from the date of submission and receipt of bids, a contract similar to the Project equivalent to at least fifty percent (50%) of the ABC. The description of an eligible bidder is contained in the Bidding Documents, particularly, in Section II Instructions to Bidders.

PRAYER WHEREFORE, it is most respectfully prayed of this Commission that the instant Joint Application for the approval of the sale of TRANSCO’s sub-transmission assets in favour of the Consortium of VECO and CEBECO II under the terms provided in the Amended Contract to Sell dated 17 March 2016, be APPROVED.

LGUs

FRIDAY, OCTOBER 28, 2016

Interested bidders may obtain further information from the Bids and Awards Committee and inspect the Bidding Documents at the address given below during office hours at 8:00 am to 5:00pm.

A complete set of Bidding Documents may be purchased by interested Bidders on October 26 to November 4, 2016 from the address below and upon payment of a nonrefundable fee for the Bidding Documents in the amount of Five Thousand Pesos (Php5,000.00).

Pre-bid conference will be held on November 3, 2016 at 2:00 pm at BAC Office 2nd Floor Municipal Bldg. Dinalupihan Bataan

Bids must be delivered to the address below on or before November 7, 2016 at 2:00 in the afternoon. All Bids must be accompanied by a bid security in any of the acceptable forms and in the amount stated in ITB Clause 18.

Bid opening shall be on November 7, 2016 at 2:00 in the afternoon at BAC Office 2nd Floor Municipal Building, Municipality of Dinalupihan, Dinalupihan, Bataan. Bids will be opened in the presence of the Bidders’ representatives who choose to attend at the address below. Late bids shall not be accepted.

10. The LGU of Dinalupihan reserves the right to accept or reject any bid, to annul the bidding process, and to reject all bids at any time prior to contract award, without thereby incurring any liability to the affected bidder or bidders. For further information, please refer to: (SGD) AMELITA E. PEÑAFLOR BAC Chairman LGU Dinalupihan Dinalupihan, Bataan Telephone No. (047) 636-0060 SGD) BAC Secretariat LGU Dinalupihan Dinalupihan, Bataan Telephone No. (047) 612-2099 (T S-O C T. 2 8 , 2016)

PARADISE REGAINED. Prime Orion Properties Inc. director Victor

Say, Ayala board director Tony Aquino, POPI director Felipe Yap, Tutuban Properties Inc. president Rowena Tomeldan, and POPI president Junie Jalandoni lead the ceremonial toast at the relaunching Thursday of Tutuban Center, a shoppers’ paradise. Ey Acasio

Naguilian declared free of illegal drugs By Dexter See NAGUILIAN, LA UNION— This town, the erstwhile place of a secret shabu laboratory in the country, has notched a feather in the Duterte administration when it was declared recently as illegal drug-free municipality, the first in the province. Officials said the town’s 28 barangays have all been cleared of illegal drugs or any related activities by the Municipal Anti-Drug Abuse Council (Madac). Mayor Reynaldo Flores, Madac chairman, said: “All the barangays, families, schools, public and private agencies, and all the establishments in our town have submitted an individual form given by Madac to validate their own ranks with regard to illegal drugs or related activities. “The validation was done through the guidelines of the Dangerous Drugs Board.” The Madac validators, composed of representatives from

Philippine National Police, Department of the Interior and Local Government, Department of Social Welfare and Development, local government units, and religious groups, confirmed all the 28 barangays were free of illegal drugs. “The barangays were validated one-by-one, as well as school teachers and students, workers in government agencies and private establishments, and the whole employees of our municipal government,” Flores said. Flores, previously named as a “high-value target” after President Rodrigo Duterte named him in his narco-list, himself has been cleared by the PNP after an investigation, officials said. Flores said they will be inviting officials of the PNP, DILG, Philippine Drug Enforcement Agency, National Bureau of Investigation, and other law enforcement agencies to validate and confirm the clearance of the affected barangays including those declared drug-free.

CYAN MAGENTA MAGENTA YELLOW YELLOW BLACK BLACK CYAN

World

FRIDAY, OCTOBER 28, 2016

Hundreds flee quake in Italy R

OME―Hundreds of people awoke in emergency shelters in Italy on Thursday after fleeing their homes following a series of strong quakes in the same region struck by a devastating tremor two months ago.

ONSTAGE. A model parades a creation from the TsaiMeiyue collection by Tsai Mei Yueh during the China Fashion Week in Beijing. AFP

After a night of heavy rain, rescue workers were trying to assess the full extent of the latest disaster in central Italy, which toppled buildings and injured dozens. A series of aftershocks rattled the area through the night after two quakes with a magnitude of 5.5 and 6.1 struck on Wednesday evening and sent people fleeing their houses in terror. “Many houses have collapsed. Our town is finished,” Marco Rinaldi, mayor of the mountain town of Ussita, told Sky Italy television. “The second quake was a long, terrible one.” One man was reported to have died of a heart attack, and dozens of people were injured, the authorities said. The tremors struck an area northeast of the capital Rome near Amatrice, the town flattened by a 6.0-6.2 quake which killed

almost 300 people and injured hundreds more in August. The ﬁrst 5.5 magnitude quake Wednesday sent people out of their residences, likely saving lives when the second, more destructive, 6.1 magnitude one struck two hours later. In both cases the epicenter was near the village of Visso in the central Marche region. “I’ve felt a lot of earthquakes but that was the strongest I’ve ever felt. Fortunately everyone had already left their homes after the ﬁrst quake so I don’t think anyone was hurt,” Rinaldi said. Several dozen people were treated for light injuries or shock, civil protection chief Fabrizio Curcio told a news conference, but no serious injuries had been reported. “Ultimately, the situation is not as catastrophic as might have been expected” given the strength

of the tremors, he said. The quakes were felt in the capital Rome, where residents also ran into the streets. The second was felt as far away as Venice in the far north, and Naples, south of the capital. Visso is just 70 kilometers from Visso and also not far from L’Aquila where a powerful earthquake killed more than 300 in 2009. Italian television channels broadcast images of collapsed buildings and people standing dazed in front of their ruined houses. “It is not very easy to make assessments in the dark and the weather is bad in the whole region. We will have to see more precisely in the light of day,” said Curcio. Across the region, hospitals, a university residence, a retirement home and even a prison had to be evacuated. “Tonight we’re going to go. But tomorrow I don’t know. The tents, I can’t go there, it’s too cold,” a resident of Visso said on television. For people who are unable to return home immediately, civil protection has arranged accommodation in gyms and prepared to reopen some of the tent camps which were set up after the August

earthquake. “I want to thank those working in the rain in the earthquake zones. All of Italy is wrapping its arms around the communities that have been hit once again,” Prime Minister Matteo Renzi tweeted. In Rome, the quakes rattled windows and doors. The imposing foreign ministry headquarters was temporarily evacuated. A Series A football match between Pescara and Atalanta was halted for several minutes when the ﬁrst tremor hit. The mayor of Serravalle del Chienti, Gabriele Santamarianova, said the quake felt “like bombs were falling”. “We saw a cloud of dust, we don’t yet know what has fallen down. We’ll see once the sun comes up.” Castel Sant’Angelo’s mayor Mauro Falcucci told Sky: “There is no electricity. There are bound to be house collapses. On top of this there are torrential rains.” The little town of some 300 people is near Arquata del Tronto, one of the areas worst hit in the August 24 earthquake. In Ascoli, another town hit hard in August, the mayor said spooked residents were ﬂeeing by car. AFP

NOTICE TO THE PUBLIC

The following advertisements of the Philippine Ports Authority should have been published yesterday, October 27, 2016. They should have been run simultaneously with another three PPA ads. However, due to inexcusable inadvertence, the three advertisements that came out were repeated in the space intended for the three advertisements that this newspaper is running today. It was a case of double publication of three advertisements exacerbated by the non-publication of another three advertisements scheduled for publication. Manila Standard takes the blame and apologizes to the Philippine Ports Authority, vowing to be very careful next time.

Bonifacio Drive, South Harbor, Port Area, Manila 1018, Philippines, P.O Box 436, Manila, Philippines Tel. No. (0632) 527-8356, Fax No. (0632) 527-4855

INVITATION TO BID

FOR THE PROPOSED DAPITAN PORT DEVELOPMENT PROJECT

Bonifacio Drive, South Harbor, Port Area, Manila 1018, Philippines, P.O Box 436, Manila, Philippines Tel. No. (0632) 527-8356, Fax No. (0632) 527-4855

INVITATION TO BID

PROPOSED CONSTRUCTION OF PORT OPERATIONS BUILDING

The Philippine Ports Authority, through the Corporate Budget of the Authority for CY 2016, intends to apply the sum of P 324,250,440.31 being the Approved Budget for the Contract (ABC) to payments under the contract for the Proposed Dapitan Port Development Project, Port of Dapitan, Dapitan City, Zamboanga del Norte (LFP ZDN No. 014-2016). Bids received in excess of the ABC shall be automatically rejected at bid opening.

The Philippine Ports Authority, through the Corporate Budget of the Authority for CY 2016, intends to apply the sum of P 66,259,953.70 being the Approved Budget for the Contract (ABC) to payments under the contract for the Proposed Construction of Port Operations Building, Port of Makar, General Santos City, South Cotabato (LFP SSG No. 015-2016). Bids received in excess of the ABC shall be automatically rejected at bid opening.

The Philippine Ports Authority now invites bids for A. Construction of Back-up Area (Area=5,255.0 sq. m.) B. Installation of Port Lighting System. Completion of the Works is required in 600 calendar days. Bidders must have an experience of having completed at least one (1) contract that is similar to the contract to be bid, and whose value, adjusted to current prices using the PSA consumer price indices must be at least fifty percent (50%) of the ABC to be bid. The description of an eligible bidder is contained in the Bidding Documents, particularly, in Section II. Instructions to Bidders.

The Philippine Ports Authority now invites bids for A. Construction of Port Operations Building (Area=2,223.39 sq. m.). Completion of the Works is required in 420 calendar days. Bidders must have an experience of having completed at least one (1) contract that is similar to the contract to be bid, and whose value, adjusted to current prices using the PSA consumer price indices must be at least fifty percent (50%) of the ABC to be bid. The description of an eligible bidder is contained in the Bidding Documents, particularly, in Section II. Instructions to Bidders.

Bidding will be conducted through open competitive bidding procedures using non-discretionary pass/fail criterion as specified in the Revised Implementing Rules and Regulations (IRR) of Republic Act 9184 (R.A. 9184), otherwise known as the “Government Procurement Reform Act.” Bidding is restricted to Filipino citizens/sole proprietorships, partnerships or organizations with at least seventy five percent (75%) interest or outstanding capital stock belonging to citizens of the Philippines. Interested bidders may obtain further information from the Bids and Awards Committee (BAC) for Engineering Projects and inspect the Bidding Documents at the address given below from 8:00 a.m. to 5:00 p.m., Monday to Friday. A complete set of Bidding Documents may be acquired by interested Bidders on 27 October 2016 from the address below and upon payment of a non-refundable fee for the Bidding Documents, pursuant to the latest Guidelines issued by the GPPB, in the amount of FIFTY THOUSAND PESOS (P 50,000.00). It may also be downloaded free of charge from the website of the Philippine Government Electronic Procurement System (PhilGEPS) and the website of the Philippine Ports Authority, provided that bidders shall pay the fee for the Bidding Documents not later than the submission of their bids. The Philippine Ports Authority’s Bids and Awards Committee for Engineering Projects will hold a Pre-Bid Conference on 07 November 2016 at 10:00 a.m. at the PPA Function Room, 7th Floor, PPA Bldg., Bonifacio Drive, South Harbor, Port Area, Manila, which shall be open to all interested bidders. Bids must be delivered to the address below on or before 9:00 a.m. of 22 November 2016 at the Bids and Awards Committee (BAC) Office, 5th Floor, PPA Bldg., Bonifacio Drive, South Harbor, Port Area, Manila. All bids must be accompanied by a Bid Security in the following acceptable forms and amount: Form of Bid Security

Amount of Bid Security (Equal to Percentage of the ABC) e) Bid Securing Declaration No percentage required f) Surety Bond callable upon demand Five percent (5%) issued by a surety or insurance company duly certified by the Insurance Commission as authorized to issue such security Bids will be opened in the presence of the bidder’s representatives who choose to attend at the address below on 22 November 2016 at 10:00 a.m. Late bids shall not be accepted. • Required PCAB Registration: Large B – Port, Harbor and Offshore Engineering The Philippine Ports Authority reserves the right to accept or reject any bid, to annul the bidding process, and to reject all bids at any time prior to contract award, without thereby incurring any liability to the affected bidder or bidders. For further information, please refer to:

BAC Secretariat, 5th Floor, PPA Bldg., A. Bonifacio Drive, South Harbor Port Area, Manila Telephone Nos. 527-47-35 527-83-56 to 83 loc. 539 PPA Website: www.ppa.com.ph

REYNAND C. PARAFINA Officer-in-Charge, AGM for Engineering Standard – Oct. 27, 2016

Bidding will be conducted through open competitive bidding procedures using non-discretionary pass/fail criterion as specified in the Revised Implementing Rules and Regulations (IRR) of Republic Act 9184 (R.A. 9184), otherwise known as the “Government Procurement Reform Act.” Bidding is restricted to Filipino citizens/sole proprietorships, partnerships or organizations with at least seventy five percent (75%) interest or outstanding capital stock belonging to citizens of the Philippines. Interested bidders may obtain further information from the Bids and Awards Committee (BAC) for Engineering Projects and inspect the Bidding Documents at the address given below from 8:00 a.m. to 5:00 p.m., Monday to Friday. A complete set of Bidding Documents may be acquired by interested Bidders on 27 October 2016 from the address below and upon payment of a non-refundable fee for the Bidding Documents, pursuant to the latest Guidelines issued by the GPPB, in the amount of FIFTY THOUSAND PESOS (P 50,000.00). It may also be downloaded free of charge from the website of the Philippine Government Electronic Procurement System (PhilGEPS) and the website of the Philippine Ports Authority, provided that bidders shall pay the fee for the Bidding Documents not later than the submission of their bids. The Philippine Ports Authority’s Bids and Awards Committee for Engineering Projects will hold a Pre-Bid Conference on 07 November 2016 at 10:00 a.m. at the PPA Function Room, 7th Floor, PPA Bldg., Bonifacio Drive, South Harbor, Port Area, Manila, which shall be open to all interested bidders. Bids must be delivered to the address below on or before 1:00 p.m. of 22 November 2016 at the Bids and Awards Committee (BAC) Office, 5th Floor, PPA Bldg., Bonifacio Drive, South Harbor, Port Area, Manila. All bids must be accompanied by a Bid Security in the following acceptable forms and amount: Form of Bid Security

Amount of Bid Security (Equal to Percentage of the ABC) g) Bid Securing Declaration No percentage required h) Surety Bond callable upon demand Five percent (5%) issued by a surety or insurance company duly certified by the Insurance Commission as authorized to issue such security

Bids will be opened in the presence of the bidder’s representatives who choose to attend at the address below on 22 November 2016 at 2:00 p.m. Late bids shall not be accepted. • Required PCAB Registration: Medium A – Building and Industrial Plant

Bonifacio Drive, South Harbor, Port Area, Manila 1018, Philippines, P.O Box 436, Manila, Philippines Tel. No. (0632) 527-8356, Fax No. (0632) 527-4855

INVITATION TO BID

TACLOBAN PORT EXPANSION AND IMPROVEMENT PROJECT (PHASE-IV) The Philippine Ports Authority, through the Corporate Budget of the Authority for CY 2016, intends to apply the sum of P 436,697,641.12 being the Approved Budget for the Contract (ABC) to payments under the contract for the Tacloban Port Expansion & Improvement Project (Phase-IV), Port of Tacloban, Tacloban City, Leyte (LFP ELS No. 0162016). Bids received in excess of the ABC shall be automatically rejected at bid opening. The Philippine Ports Authority now invites bids for A. Demolition, Removal and Excavation Works B. Construction of Back-Up Area with Ro-Ro Ramp. Completion of the Works is required in 690 calendar days. Bidders must have an experience of having completed at least one (1) contract that is similar to the contract to be bid, and whose value, adjusted to current prices using the PSA consumer price indices must be at least fifty percent (50%) of the ABC to be bid. The description of an eligible bidder is contained in the Bidding Documents, particularly, in Section II. Instructions to Bidders. Bidding will be conducted through open competitive bidding procedures using non-discretionary pass/fail criterion as specified in the Revised Implementing Rules and Regulations (IRR) of Republic Act 9184 (R.A. 9184), otherwise known as the “Government Procurement Reform Act.” Bidding is restricted to Filipino citizens/sole proprietorships, partnerships or organizations with at least seventy five percent (75%) interest or outstanding capital stock belonging to citizens of the Philippines. Interested bidders may obtain further information from the Bids and Awards Committee (BAC) for Engineering Projects and inspect the Bidding Documents at the address given below from 8:00 a.m. to 5:00 p.m., Monday to Friday. A complete set of Bidding Documents may be acquired by interested Bidders on 27 October 2016 from the address below and upon payment of a non-refundable fee for the Bidding Documents, pursuant to the latest Guidelines issued by the GPPB, in the amount of FIFTY THOUSAND PESOS (P 50,000.00). It may also be downloaded free of charge from the website of the Philippine Government Electronic Procurement System (PhilGEPS) and the website of the Philippine Ports Authority, provided that bidders shall pay the fee for the Bidding Documents not later than the submission of their bids. The Philippine Ports Authority’s Bids and Awards Committee for Engineering Projects will hold a Pre-Bid Conference on 07 November 2016 at 10:00 a.m. at the PPA Function Room, 7th Floor, PPA Bldg., Bonifacio Drive, South Harbor, Port Area, Manila, which shall be open to all interested bidders. Bids must be delivered to the address below on or before 9:00 a.m. of 23 November 2016 at the Bids and Awards Committee (BAC) Office, 5th Floor, PPA Bldg., Bonifacio Drive, South Harbor, Port Area, Manila. All bids must be accompanied by a Bid Security in the following acceptable forms and amount: Form of Bid Security

Amount of Bid Security (Equal to Percentage of the ABC) k) Bid Securing Declaration No percentage required l) Surety Bond callable upon demand Five percent (5%) issued by a surety or insurance company duly certified by the Insurance Commission as authorized to issue such security

Bids will be opened in the presence of the bidder’s representatives who choose to attend at the address below on 23 November 2016 at 10:00 a.m. Late bids shall not be accepted. •

Required PCAB Registration: Large B – Port, Harbor and Offshore Engineering

The Philippine Ports Authority reserves the right to accept or reject any bid, to annul the bidding process, and to reject all bids at any time prior to contract award, without thereby incurring any liability to the affected bidder or bidders.

For further information, please refer to:

BAC Secretariat, 5th Floor, PPA Bldg., A. Bonifacio Drive, South Harbor Port Area, Manila

Telephone Nos. 527-47-35 527-83-56 to 83 loc. 539

PPA Website: www.ppa.com.ph

REYNAND C. PARAFINA Officer-in-Charge, AGM for Engineering

REYNAND C. PARAFINA Officer-in-Charge, AGM for Engineering Standard – Oct. 27, 2016

Standard – Oct. 27, 2016

Motoring

RAMON L. TOMELDAN EDITOR

FRIDAY, OCTOBER 28, 2016

Honda creates a new segment with the seven-seater BR-V.

Off-road fun with Honda Text and photos by Dino Ray V. Directo III

O TEST the mettle and technological features of its SUV line-up, Honda Cars Philippines Inc threw caution to the wind and organized an event at the sloping terrains of Tagaytay Highlands, Honda invited a select group of motoring pen pushers for the litmus test featuring the newest chariot in the Honda stable.

“Our aim is for you to experience our vehicles in the manner it was designed and built. Hence, we prepared the HR-V, CR-V, the Pilot and the new BR-V for you guys to test in different scenarios,” stated Toshio Kuwahara, President and GM of HCPI. Veteran racer and motoring scribe George Ramirez prepared routes around the High-

lands that tested the overall behavior and performance of the SUV’s. The uphill and downhill terrains of the Highlands presented itself as the test bed for descent and ascent runs with a dash of twisting roads to test the power and acceleration of the HR-V and the all-new BRV. The 4WD variants CR-V and the Pilot were driven on an off-road course that allowed us

The BR-V shares components with the Mobilio and Jazz.

to experience the 4WD systems of both SUV’s in a safe and controlled environment. Every part of the road course allowed the participants to experience every vehicle’s dynamic

driving performance, powerful engine, and effortless handling. The uphill and downhill drives demonstrated the Vehicle Stability Assist (VSA) and Hill Start Assist (HSA) capabilities of all

four SUVs that prevented the vehicles from skidding sideways during cornering, and rolling back on inclines. The highlight of the day-long event was getting behind the

wheel of the recently launched BR-V, Honda’s latest and perhaps the only seven-seater SUV in the domestic market. The participants drove the All-New BR-V 1.5 V Navi CVT on extensive laps across Tagaytay Highlands. Sharing components, chassis and engine with the Mobilio, the BR-V held its own against the hulking Pilot and the CR-V. Despite having only a 1500cc engine under its hood, the BR-V felt agile and power was precisely distributed down to its four-wheels by way of the Continuously Variable Transmission (CVT). It gamely drove up the steep inclines carrying a full load of seven adults, and effectively engaged the twists and turns of Tagaytay Highlands without missing a beat. According to Kuwahara, delivery of the all-new BR-V will commence this December and reservations are now being accepted in Honda’s 34 dealerships nationwide.

Performance and drivers HYUNDAI Asia Resources, Inc. the official distributor of Hyundai vehicles in the country, kept its growth momentum as it remained as one of the automotive industry’s high flyers. Hyundai closed its 2016 nine-month sales with a robust 50% growth, mainly attributed by both Passenger Car (PC) segment and Light Commercial Vehicles segment. All in all, the company sold a total of 25,021 units by the end of September. As the front runner of HARI’s growth, the PC segment grew at a double-digit rate of 56% in the first nine months of the year. The

Light Commercial Vehicles (LCV) segment, meanwhile, was not far from the spotlight as it pushed its nine-month sales to 37% from previous year. Meanwhile, third quarter results showed 53% growth for the PC segment, while the LCV segment improved its sales by 23%. Philippine GDP expanded by 7.0% for second quarter of 2016 – the fastest quarterly expansion since the 7.9% GDP of the same period in 2013. Growth contributors include the consumer and infrastructure spending during the tail-end of the election period, as

well as the buoyant business and consumer sentiment, adequate credit, and domestic liquidity. Amidst the proposal to increase taxes on both fuel and automotive vehicles, a strong macroeconomic foundation, higher disposable income, and an upbeat rating in auto-buying intentions, has kept an opportunistic view for the demand of automotive vehicles. Hyundai’s positive growth strengthens this sentiment and only validates the claim of 2016 being the year of the company’s renascence.

Interior protection from Maxliner IT IS quite a hassle when a liquid substance is spilled in your car’s carpet. Not only will it leave a stench inside your vehicle, worse, you will have to pay a hefty amount of money to have the interiors of your car cleaned and detailed. Maxliner, a known OEM supplier of bedliners aims to address this spillage problem with its 3D digital mapped floormats. It is an inexpensive and basic universal floor mat designed to provide some protection for your car’s carpet or spruce up an older car on a tight budget. With Maxliner’s experience as an OEM supplier of bedliners for big name brands such as Toyota, Ford, Mitsubishi, Isuzu and Chevrolet, Maxliner spent a considerable amount of money, time and effort to come up with the 3D digital mapped floormats. Unlike basic universal floor mats, they’re designed to precisely fit specific vehicles, providing edge-to-edge coverage of the foot wells. They also have raised edges around their perimeters to trap and contain liquid. All of this better protects your car’s carpets

from water, dirt, mud and other messy things that can get trapped into the vehicle’s carpets or spilled onto the floor. “Our products also have patterns around the floormats that channel away fluids from your feet to a reservoir at the rear edges. Since Maxliner is an OEM supplier, our 3D digital mapped floormats are easy to install, remove and fits most cars, pick-ups and SUV’s,” explains Peter Vargas of the Outdoors Club. “Our floor mats are also designed to not move around or slip on the floor and the best thing about it is they are easy to clean,” adds Vargas. With 200 hours spent on research development, Maxliner’s 3D digital mapped floormats are the most affordable and best designed in comparison to its nearest competitor which is double the price. It is also the floormat of choice of Original Equipment Manufacturers (OEM) . Check out a full range of luggage, bicycle racks, bedliners and floormats at the Outdoors Club in at the Ground Floor of the Banco de Oro Bldg. 2, Ortigas Avenue, West Greenhills, San Juan.

BANKING REPORT

FRIDAY, OCTOBER 28, 2016

Under the BSP’s diligent watch, the country’s banking industry continues to be among the most stable in the world.

Philippine banking system remains strong and stable By Jimbo Owen Gulle

TRENGTH in capitalization and liquidity, diligent and strong monitoring by government regulators, limited linkages to global markets, and modest growth in private-sector debt and real estate prices. These are the features of the Philippine banking sector at present that make it one of the most stable in the world, even as it faces potential headwinds in the form of issues surrounding the

new administration of President Rodrigo Duterte and somewhat unpredictable policy-making compared to his predecessor’s term. Standard and Poor’s Global

Ratings, better known as S&P, made these observations recently as it praised the “strengthened oversight” of the Bangko Sentral ng Pilipinas (BSP) on banks in the country.

The international credit watcher recently kept its “BBB” credit-rating assessment for the Philippines with a “stable” outlook, thanks to the country’s strong external position, rising foreign-exchange reserves and declining external debt. S&P also rated the PH banking sector a 7 on a scale of 10 (1 having the highest risk, 10 the lowest) in its bank industry credit risk assessment. The ratings agency felt positively about

local banks’ high liquidity and stable numbers, which offset the country’s low income level and limited legal protection to BSP as the regulator. The BSP’s “ability to support sustainable economic growth while muting the negative impact of recent economic or financial shocks” reflected the central bank’s “sound record in keeping inflation low and its history of independence,” S&P said. “We believe the BSP’s new

monetary policy measures, such as the new interest-rate corridor, supported by implementing term deposit auctions, reforms to the reverse repo auction mechanism, and the issuance of central bank bills will improve the effectiveness of monetary policy transmission,” the agency added. At the end of June 2016, BSP data showed the PH banking system had a total of P12.54 trillion in assets, growing 12.22 Turn to C2

FRIDAY, OCTOBER 28, 2016

BANKING REPORT

Fintech disrupts financial services,

forces banks to innovate A

BOUT one-fifth of the world’s traditional financial services business is threatened by the rise of financial technology or “fintech” such as next-generation payment systems, blockchain and credit decisioning, which forces Philippine banks and financial firms to become “masters of innovation and self-disruption.”

That was the revelation from the research firm International Data Corporation (IDC) at the recent Philippine Financial Services Summit, as it encouraged local banks and firms to create opportunities from digital disruption and transformation. “The world of financial services is under major threat with the rise of new technologies now collectively known as FinTechs that use the technologies to disrupt traditional banks, insurers, and capital market players,” Michael Araneta, Associate Vice President of IDC Financial Insights Asia/Pacific, said at the Summit. Araneta urged his audience to rethink their rules of financial services, and leverage advanced technologies in an era of fastpaced digital change and socalled digital experience or DX platforms are created to ensure the timely delivery of services while also minimizing the complexity and costs involved. IDC’s Araneta also advised banks to “build new ecosystems that offer value to customers who not only want financial services, but also want financial services in the context of their lifestyle.” In the same summit, IDC,

PH banking... From C1 percent from the year before. The BSP also posted P10.95 billion in net income through July 2016, a huge turnaround from the previous year’s net loss of P3.55 billion. Deposits lead the charge Total deposits in PH banks also rose 12.5 percent year-onyear, reaching P7.6 billion as of end-August, giving the industry a buffer against the impact of negative developments outside the country. “Savings and demand deposits remained the primary sources of funds for the banking system,” the BSP’s Inflation Report for the third quarter of 2016 said. Thanks to these deposits, “the Philippine banking system continues to be resilient in supporting the economy’s longterm growth,” the report added. “This strength was evident in banks’ balance sheets that are marked by steady growth in assets and deposits.” With savings deposits rising 14.8 percent, demand deposits by 16.8 percent, and time deposits by 3.5 percent, the local banking industry’s total resources in the first half of 2016 reached P12.9 trillion, jumping 11.8 percent from the P11.5 trillion posted by end-June 2015. The capital adequacy ratio (CAR) of domestic financial institutions, which gauges banks financial health, and of universal and commercial banks (U/ KBs) in particular is still above the international minimum requirement of 8 percent and the BSP requirement of 10 percent. The end-March 2016 mark actually stood at 15.8 percent on a consolidated basis, the regulator said. Lending growth is steady too Lending has also buoyed local banks as they have responded to the strong demand from corporate and retail borrowers, the BSP said. As of end-August this year, outstanding loans of

through a press release, says financial institutions must be “bold in their approach to re-architect their existing infrastructures and systems, adopt a company-wide digital transformation mindset, and collaborate with new partners.” Going beyond their digital strategies is the key for traditional financial firms to avoid being disrupted in the next two years, the research firm added. IDC also foresees greater integration of banking with other industries like retail, transport, and entertainment. Only 31 percent of Filipinos have traditional bank accounts, and only three per cent have credit cards, according to the United Nations Conference on Trade and Development. But according to IDC, the Philippines was the fastest growing market for mobile phones in 2016, which has allowed fintech firms like Coins.ph to bring banking services to a largely unbanked population. What is blockchain? “Today’s financial services have to innovate further, using early digital victories as foundation to push the boundaries,” IDC’s Araneta says, mentioning that innovation

commercial banks increased 17.3 percent to P5.48 trillion compared to the P4.67 trillion posted at the same time in 2015. Loans for production activities made up 89.2 percent of local banks’ total loan portfolio as of end-June, with an increase of 17.3 percent to P4.88 trillion from P4.16 trillion. Loans to real estate also rose by 19.5 percent to P967.92 billion, and loans to the manufacturing sector posted a 7.7 percent increase to P766.86 billion. Wholesale and retail trade loans, including repair of motor vehicles and motorcycles rose 15.9 percent to P757.57 billion, and lending to electricity, gas, steam and airconditioning supply surged 30.9 percent to P634.28. Loans for household consumption went up 20.3 percent to P436.23 billion in end-August, motor vehicle loans zoomed 34.9 percent to P184.73 billion, and credit card loans went up 8.7 percent to P180.61 billion, the BSP added. Salary-based general consumption loans likewise soared 63.1 percent to P58.34 billion. BSP Governor Amando Tetangco said that going forward the central bank will continue to ensure “that domestic credit and liquidity conditions will keep pace with overall economic growth while remaining consistent with its price and financial stability objectives.” Tighter loan standards for housing and real estate Loan volumes increased even as the banks tightened standards for commercial real estate and housing loans amid a sharp rise in prices, the BSP reported after revealing the results of its 3rd Quarter 2016 Senior Loan Officers Survey. The stricter overall credit standards for commercial real estate loans “reflected respondent banks’ wider loan margins, reduced credit line sizes, stricter collateral requirements and loan covenants, shorter loan

Next-gen payment systems such as cloud-based POS Systems are innovations local ﬁnancial ﬁrms can pursue.

can come from “hot areas” like blockchain. Built on the Bitcoin digital currency, the blockchain is a public ledger of all Bitcoin transactions that have ever been executed. Blockchain can be used to deliver financial services through mobile data and the Web, and several Philippines-based fintech companies like Coins.ph have already received millions of dollars in funding to try to deliver services to unbanked Filipinos. “In the Philippines, more people have a Facebook account than a bank account. We’d like to make access to financial services as easy and approachable as getting a Facebook account,”

says Coins.ph co-founder and CEO Ron Hose, whose company recently raised US$5 million in Series A funding led by Quona Capital’s Accion Frontier Inclusion Fund. Coins.ph is a mobile-ﬁrst platform that allows people to use mobile banking for tasks such as sending remittances, paying for bills, and buying credits or data packages for mobile phone accounts. It has partnered with banks, last-mile logistics companies, pawnshops and remittance services to create a network of over 22,000 cash distribution centers across the Philippines. The blockchain allows users to send remittances at a lower rate

than Western Union, and helps people take care of everyday services without a bank account. Thanks to this technology, Coins. ph claims to have over 500,000 users across 40 countries, thanks in part to overseas Filipino workers (OFWs) sending money back home. Next-gen payment services Some local banks and ﬁrms are already employing so-called next-gen payment systems, which are successors to the traditional credit card “swipe and sign” system. One of them is EMV Credit Cards, a technology developed by a consortium of Europay, Mastercard and Visa (hence the

acronym) to counteract credit card fraud. Also called Chip-andPIN cards, these cards feature a chip that stores a cryptogram that detects modiﬁed transactions, and also requires a PIN for extra authentication. Several Philippine banks have already issued EMV cards as both credit and debit cards to support their typical savings accounts, allowing users to perform cashless transactions in malls, groceries and other commercial outlets. Another technology is contactless RFID credit cards, which uses passive Radio Frequency Identiﬁcation that allows cardholders to wave the Turn to C4

Deposits remained the top source of funds for PH banks, and mobile banking helps even the unbanked get access to the ﬁnancial system.

maturity, and increased use of interest rate floors,” the central bank said. Although both the standards and demand for commercial real estate loans went largely unchanged, several banks indicated heightened demand on the back of larger working capital and inventory financing needs of borrowers and their clients’ improved economic outlook. Meanwhile, bank officers responding to the survey attributed the net tightening of credit standards largely to “perceived stricter financial system regulations and as well as clients’ less favorable economic outlook,” the BSP said. Housing prices nationwide rose faster after the Residential Real Estate Price Index (RREPI) climbed 11.3 percent to 122.8 in the second quarter owing to strong demand in areas outside the National Capital Region (NCR).

Data from the survey showed that prices of single-detached housing units grew the most at 18.6 percent, followed by townhouses at 14.7 percent and duplex units at 0.6 percent. Condominium units prices went almost unchanged. The growth of residential prices in the second quarter is not “bubbly” as there is “real demand,” BSP Deputy Governor Diwa Guinigundo said, noting that residential construction activities have expanded with the development of new projects outside Metro Manila. Consolidation leads to fewer banks, more branches Finally, the continued consolidation of banks and the exit of “weaker” rural banks led to a drop in the number of banks operating in the country to 618 as of end-June, the BSP reported.

The Philippines now has 41 “big banks” or universal and commercial banks, up from the 36 as of end-June 2015, as new foreign banks entered the fray. Of the 21 operating universal banks, 12 are private domestic banks, three are government-run and six are foreign bank branches. The 20 commercial banks are made up of 13 foreign bank branches, five private domestic banks, and two foreign bank subsidiaries. The decrease came at the level of rural and cooperative banks, which are now just 513, 19 less than 2015’s midyear total. Five thrift banks also shuttered their businesses, leaving the present total at 64. In July last year, then-President Benigno Aquino III allowed more foreign banks to come into the country by signing Republic Act 10641, amending the existing law

(RA 7721) by removing the limit of foreign banks in the country, earlier set at just 10. The BSP has so far allowed eight foreign banks to operate in the Philippines. Three are from Korea – Shinhan Bank of South Korea, the Industrial Bank of Korea, and Seoul-based Woori Bank. Taiwan also has three (Yuanta Bank, Cathay United Bank of Taiwan and First Commercial Bank of Taiwan) alongside Sumitomo Mitsui of Japan and the United Overseas Bank Ltd. of Singapore. With more global players expected to enter the consolidated Southeast Asian market through the Philippines, the strength of the local banking system will be truly tested. But with S&P’s conﬁdence in the country and the BSP’s guidance, the industry should remain a bastion of strength of the economy for years on end.

BANKING REPORT

FRIDAY, OCTOBER 28, 2016

Members of the Credit Card Association of the Philippines band together to support the Inter-Bank Debt Relief Program (IDRP).

IDRP: Giving credit card debtors a new lease on financial life H

AVE you ever maxed out a credit card, or multiple cards? And if you have, have you ever hoped that you could get back in the good graces of credit card companies and enjoy using plastic money again? In this country, that’s possible, thanks to a program recently launched by the Credit Card Association of the Philippines (CCAP) and the Bangko Sentral ng Pilipinas (BSP) with the participation of BDO Unibank Inc. Called the Inter-Bank Debt Relief Program (IDRP), this plan allows highly indebted and financially distressed but well-meaning credit card customers to get back on track toward responsible credit use, by allowing them to restructure their existing debts. The program aims to offer “more affordable terms, lower interest rates, and reduces the equal monthly amortization of the customer to enable him or her to sustain paying the account and prevent further delinquency,” CCAP Executive Director Alex Ilagan says. Under the program, which started last June, an indebted cardholder’s financial capacity, including his or her income and expenses summary, will be reviewed prior to enrolling the debtor’s account to the IDRP. As long as 10 years A customer’s repayment period can extend to as long as 10 years for severe cases of indebtedness. Interest rates will be pegged at 1.5 percent per month or even lower, depending on the profile of the customer, his debt to income ratio, and completion of documents required for the program.

Participating banks may also have the option to disapprove application for customers who have “misused and abused the credit facility granted by the banks,” Ilagan added. If a customer does take up the IDRP, all his or her existing credit cards will have to be blocked or cancelled upon enrollment of the delinquent accounts, and any rebates or rewards the customer earned will also be forfeited. Customers cannot apply for a new credit facility with the participating banks while their accounts under the IDRP are not yet fully settled. Those who enroll in the program also need to show “a reasonable ability to pay the necessary amortization prior to being accepted.” To make it more convenient and streamlined for customers, Ilagan said they could approach any credit card ﬁrm they are indebted to and transact directly with a “one-stopshop” facility, courtesy of a lead bank, to negotiate or apply for debt restructuring of all his or her outstanding obligations existing in other banks. In case the customer has multiple credit card debts, the bank or company with which he or she has the biggest debt will be the lead bank and act as the main coordinator, the CCAP chief added. “The banks themselves will take charge of notifying all other program members of a customer’s

inclusion in the program,” Ilagan says. Minimum requirements All credit card accounts applying for the IDRP must be at least six months old, with an outstanding balance of at least P10,000 per card and total card obligations of at least P100,000 for all cards. The CCAP says acceptance into the IDRP is subject to certain restrictions and qualiﬁcations, as well as submission of pertinent documents. Qualiﬁed customers, as they comply with their approved terms, may opt to issue post-dated checks at lower interest rate, or pay cash to each bank separately on the due date. To make it easy for the customer in the future, CCAP is developing a centralized or single payment channel so customers can consolidate all payments in one check or one location, in case of cash payments. This facility will be made available before the end of 2016, Ilagan says. Customers are not allowed to apply for debt relief for a single credit card only, the CCAP says. They are required to disclose and include all credit cards owned with the participating banks. Once a customer applies for the program, all of his or her existing credit card accounts, whether delinquent or not, will be included. That means the customer won’t be able to use any of his or her “good” credit cards until after the repayment schedule for the other cards are completed. The cardholder’s name will also be reported to the Credit Bureau, thus affecting their ability to apply for new credit cards or loans. The CCAP says these measures are intended

to prevent customers from making cash advances on one card to pay off obligations in another. “It will also eliminate possible abuse from customers who may be looking for a way to pay lower interest on their outstanding balance that are not yet past due,” Ilagan says. Financial rehab What’s the benefit of participating in this program? The spirit behind the IDRP “is to rehabilitate and provide a second chance to financially distressed customers,” Ilagan says. “After a customer completes the payments of the program and proves financial soundness and capability, they will be treated as a new

applicant if and when they apply for a new credit facility,” he adds. CCAP members are all in on the program. Its members include Asia United Bank, Bank of Commerce, Bank of the Philippine Islands, Citibank, China Banking Corp., Eastwest Banking Corp., Equicom Savings Bank, HSBC, Maybank, Metrobank Card Corp., Philippine National Bank, RCBC Bankard, SB Cards Corp., Standard Chartered Bank, and Union Bank of the Philippines. Although not a CCAP member, BDO Unibank Inc. will have exactly the same responsibilities as the other banks in the IDRP, Ilagan assures. What’s more, the debt relief program would also cover unsecured personal

loans by October, he adds. “We definitely expect delinquent cardholders to take advantage of this opportunity to secure more liberal terms for the restructuring of their credit card debts, compared to negotiating individually with the issuing banks,” he says. The CCAP says that industry data indicates about P2.32 billion being placed in individual restructuring programs of banks as of 2015, representing 1.39 percent of the industry’s total receivables of P167.41 billion. Interest rates from these delinquent accounts range from 0 percent to 3 percent, with an average term of 48 months. Jimbo Owen Gulle

FRIDAY, OCTOBER 28, 2016

BANKING REPORT

BSP: Reforms support sustained stability and growth of PH ﬁnancial system

HE Philippine ﬁnancial system remained sound and stable in the ﬁrst semester of 2016 as the pursuit of continuing reforms supported the sustained growth, the Bangko Sentral ng Pilipinas (BSP) says in a recent statement.

“With the banking system at its core, the ﬁnancial system continued to provide needed funding to a growing economy,” the central bank says. During the review period, the BSP issued additional Basel III reforms aimed at improving banks’ liquidity standards, in particular the Liquidity Coverage Ratio (LCR) and its disclosure standards under Circular No. 905 dated March 10. The regulator also mentioned its mitigating systemic risk through the recovery plan on domestic systemically important banks (DSIBs), its continuing enhancement in risk management oversight and corporate governance standards, and strengthening prudential rules on connected lending and related party transactions. The PH banking system posted an annual asset growth of 12.2 percent to P12.5 trillion supported by doubledigit credit expansion. Banks also maintained an improved loan quality of 2.2 percent, positive bottom line of P78.9 billion and capital adequacy ratio (CAR) of 16.1 percent, based on preliminary data on a consolidated basis as of endJune. Funding remained largely sourced from retail and peso deposits of residents, the BSP says. Meanwhile, foreign currency deposit liabilities comprised 21.6 percent of total

deposit liabilities. Banks were generally compliant with the required asset and liquid asset cover ratios of 100 percent and 30 percent, respectively. Total resources of the trust industry stood at P2.8 trillion, closer to its P3.0 trillion level recorded at end-June 2013. It is the peak for the five-year review period (end-June 2012 to end-June 2016), prior to the effectivity of Memorandum No. M-2013-021. That memo constrained the access of trust accounts to the BSP’s Special Deposit Account (SDA) facility, allowing only the access for Unit Investment Trust Funds (UITF). This led to the shift to deposit in banks and investments in financial assets from cash and due from BSP, which boosted the asset expansion. Other non-bank financial institutions similarly exhibited prudence in their overall risktaking activities and provided sufficient capital buffer against unforeseen shocks from their operating environment i.e., rising interest rates, the BSP says. Notwithstanding the sustained positive performance of the financial system, the BSP continues to carefully monitor potential sources of vulnerabilities and implement timely and calibrated reforms address potential risks. This is in line with the BSP’s objective of promoting greater financial stability.

Rules on dormant deposits and bank fees enhanced In another development, the Monetary Board has enhanced the rules governing dormant deposit accounts and the fees charged by banks on their retail products and services in line with the BSP Consumer Protection Framework. Under the reform initiative, the imposition by banks and NSSLAs (non-stock savings and loans associations) of dormancy fee has been subject to more stringent conditions. A monthly dormancy fee, not exceeding Php 30, can only be imposed if there is no deposit or withdrawal from the account for five years; if the deposit is below the minimum monthly average daily balance; and if the depository bank or NSSLA has complied with the notification requirements. The new rules also require banks to give three notices pertaining to dormant accounts: (1) potential dormancy prior to the commencement of the dormancy period; (2) charging of dormancy fee; and (3) escheat of account pursuant to the Unclaimed Balances Act. To comply with the notification requirements, a depositor must be notified through postal mail, courier delivery, email, telephone or other means at least 60 days before the deposit becomes dormant; and at least 60 days prior to the charging of dormancy fees.

BSP Governor Amando Tetangco

Depositors shall also be notified at least 60 days before the start of proceedings for escheat or the transfer of unclaimed dormant deposits to the National Treasurer. There will be a permanent retention of records of escheated accounts for purposes of tracing of deposits, the Board says. NSSLAs are required under the new rules to notify its members of the dormancy and the possible imposition of a dormancy fee at least 60 days prior to the dormancy of the account and 60 days prior to the imposition of the dormancy fee. To enable financial consumers to compare fees, the amended policy also requires banks to post their fees on retail deposit, remittance and loan products or services in their official website and in conspicuous places in all banking units.

Banks shall publicly notify clients of any amendments in the terms and conditions of retail bank products or services. Complementary individual notices to a client, however, shall be sent if the amendments pertain to or will result to fees to be paid or charged on the account of the client. Clients are granted the opportunity to manifest objection to amendments to fees’ terms and conditions and the right to exit the contract without penalty. The new regulations provide that fees for domestic fund transfers or remittances should be charged only to the sender. This enables determination of the exact amount to be received by the beneﬁciary and allows consumers to decide on the most cost-efﬁcient means for remitting money. Currently, both the remitter and recipient/

Fintech... From C2 cards in front of RF terminals to complete transactions. Filipinos may be more familiar with the RFID tags on their cars, which allow them to pay the toll fees as they pass through the country’s expressways. Mobile wallets have also been around since they were first launched in Japan in 2004. This technology works on NFC enabled smartphones, and has since been a mainstay of Apple and Google’s mobile platforms (Apple Pay and Android Pay, respectively). New payment processing architectures that use encryption and tokenization, Cloud-based PoS (point of sale) systems, and Secure Element systems have also been created and designed to improve and secure mobile payments, according to digital security company Trend Micro. What should traditional financial firms do? In a previous conference in Malaysia in September, IDC also laid out several tips to help banks and financial firms deal with the fintech threat. As Araneta said in the Manila event, “A fintech mindset can also be for the very banks that start-ups and new disruptors attempt to take down.” For financial institutions to succeed, IDC Financial Insights suggested they develop a new strategy and set priorities that includes: Building a new ecosystem of partners out

beneficiary pay for the remittance transaction. Under the enhanced rules, banks shall also adopt a policy for the fees charged on financial products and services and a fee structure as a measure of Fair Treatment of its clients. The enhanced rules shall be effective six months from publication in a newspaper of general circulation. However, the notification requirements and record retention of accounts subject to escheat (the reversion of properties to the state) shall be effective 15 days after publication to cover the next round of escheat in January 2017. The BSP fosters a robust consumer regulatory environment to enable citizens to make wiser financial decisions and to contribute actively to the promotion of Financial Stability.

of their industry. Financial institutions will have to re-imagine a new value chain for the customers where banking and insurance needs to interface with manufacturing, or retail, transport or telecommunications to offer a whole new proposition of products and services to their customers. Supporting industry-focused developers and create innovation communities that are fundamentally remaking what financial services fundamentally does. Responding to new customer segments that do not separate “banking” from other activities in their everyday lives, so that banking (or insurance) becomes integrated to the customer’s lifestyle. Embracing partners in an era of unprecedented collaboration, so that banks, insurers, regulators, fintech start-ups, tech vendors and customer advocates remake financial services, as we know it. Breaking down the barriers to ideas and innovation within their institutions, recognizing that change does not come only from the top. Creating strategies for traditional firms “need to be based on a clear understanding of how digital creates perspectives and value on the consumer ecosystem,” IDC adds. Innovative incumbent banks and financial institutions “are moving rapidly to embrace digital,” Araneta notes. “They need to go the distance in addressing not just the strategic but also the human challenge. Beyond that, to truly transform, they need to start thinking beyond digitization and incremental improvements.” Jimbo Owen Gulle

An RFID badge on a credit card.

Life

Isah V. Red, Editor Bernadette Lunas, Writer isahred@gmail.com FRIDAY, OCTOBER 28, 2016

DESTINATIONS

AWESOME NIAGARA

FANTASTIC FALLS. A rainbow arches on the banks of the Niagara River right after the Horseshoe Falls—the biggest and most picturesque of the three falls comprising the Niagara Falls.

HEN I decided, while still in Manila, to make the side-trip to Toronto from New York, I chose to travel by air, as I didn’t want the long drive between these two cities. However, when I was already in Toronto for our family reunion, my niece lured me into joining MERCURY RISING her for the drive back to New York. Her bait? A BY BOB ZOZOBRADO leisurely stopover in Niagara Falls and the adjoining town, Niagara-On-The-Lake. The last time I went to Niagara Falls was more than 30 years ago, and I’ve never been to NiagaraOn-The-Lake, so I couldn’t say NO to the offer. After a leisurely two-hour drive from Oshawa, we were in Niagara Falls. Greeting us as we entered The Falls area from Niagara Parkway was the beautiful Flower Clock. We couldn’t help but get off our car just to get a closer look at this finely crafted horticulture attraction. Built in 1950 by Ontario Hydro, approximately 16,000 colorful carpet bedding plants make up the face of the clock, which is diligently maintained by the Niagara Parks staff. I learned that the design is changed twice a year, depending on which blooms are available to provide the most striking colors. Driving for five more minutes, we found ourselves at The Falls. Even if I have already seen it before, I was still mesmerized by the awesome splendor of this natural tourist attraction. As if to welcome me back, a beautiful rainbow arched itself on the banks of the Niagara River. Niagara Falls, is located right between the Canadian province of Ontario and the state of New York. It is actually composed of three waterfalls— the Horseshoe Falls which is on the Canadian side

As somebody who has been with the tourism industry since forever, I find it such a joy to see how this “natural wonder” has sparked a highly successful tourism industry for the area and for thousands employed in the related establishments. Records show that Niagara Falls attracts an average of 12 million tourists yearly. That’s twice the number of foreign visitors our entire country attracts. After doing the rounds of The Falls area, we drove off to the adjoining town, the beautiful NiagaraOn-The-Lake, an upscale neighborhood populated mostly by owners of vast vineyards and other farms. Located right on the banks of Lake Ontario, it is the only town in Canada with a Lord Mayor. This is an honorary title given to an appointed dignitary in recognition of the town’s role as the first capital of Upper Canada. The town also has an elected mayor responsible for the town’s state of affairs. Walking around the visually engaging downtown area, I discovered a luxurious fine dining restaurant in the town’s most expensive hotel. What caught my attentions was its name— Escabeche Restaurant. I was curious

The blooming Flower Clock at the Niagara Parkway entrance to The Falls

and is the biggest and the most picturesque of the three, the American Falls, and the smaller Bridal Veil Falls right next to it. The Horseshoe Falls has a vertical drop of 165 feet and is the most powerful waterfall in North America, the reason why it has been a valuable source of hydroelectric power. The amount of water that flows over The Falls can actually be controlled by the intake of the hydroelectric plants’ reservoirs. We learned that the best time to visit is during daytime of the summer months as the waterfall volume is at its maximum. We were lucky because that was when we were there. As I was taking photos, I saw down below, on the Niagara River, the Maid of the Mist, a boat which carries daring tourists, inching its way as close as possible to The Falls’ vertical drop. I remember having taken that ride during my first visit and it is one experience that is hard to forget—the thundering sound of the powerful waterfalls cuts off any conversation between you and whoever is right next to you, and the mist gets you totally wet, in spite of the raincoat and hood that the tour agency provides. But all that make for a real adventure! I noticed that the area around The Falls is now commercially developed. They now have many malls, hotels, restaurants, shops, and even casinos.

and wanted to find out if the chef was Filipino. Unfortunately, the restaurant had a very strict dress code and I was just in my shorts and espadrilles. It was also surprising to note that this small town has three theaters, all located near each other. Later, I learned that it is home to the annual Shaw Festival, which features theatrical productions of the works of the famous author, George Bernard Shaw, and his contemporaries. The shows boast of a pool of directors known to be among the best in the world of theater. After some shopping and a late lunch, we decided to start our long drive back to New York, which took all of six hours, non-stop. I would have complained about this boring leg of the trip, but the splendor of awesome Niagara Falls, and the picturesque Niagara-On-The-Lake, more than made up for it. For feedback, I’m at bobzozobrado@gmail.com

YOUR FRIDAY CHUCKLE Every man needs a beautiful wife¼ an intelligent wife¼ a caring wife¼ a loving wife¼ a sexy wife¼ a cooperative wife¼ but it’s sad that our law allows only one wife.

Niagara's Horseshoe Falls, as seen from the Canadian side

Life

FRIDAY, OCTOBER 28, 2016 isahred@gmail.com

Marikina shoemaker

to President Duterte gets new tools R

EPUBLIC Chemical Industries, Inc. (RCI), distributor of Pioneer Contact Bond, is taking the lead in reviving the country’s shoe industry by supporting its shoemakers.

The company recently showed its support for Rolando “Tatay Oly” Santos, 68, with a donation of a new set of hand tools, a working table, and a yearlong supply of adhesives from Pioneer Contact Bond. Pioneer Contact Bond, an all-purpose Toluene-free contact cement, is ideal for use in shoe making, especially for binding the leathers and attaching the soles. As an expert cobbler, Tatay Oly said that these tools and other supplies are a big help for him to produce a durable pair of shoes. “Yung mga gamit ko, ilang taon ko nang ginagamit ‘yan…Nag-papasalamat ako dahil itong aking pagawaan, eh, mabibigyan ng bagong gamit [I have been using my tools for a long time… I am very thankful because my workshop will now have new ones],” Tatay Oly added. “Talagang kailangan sa sapatos ang magaling na pandikit. Kung magaling ang pandikit, kahit hindi tahi ang sapatos hindi siya bibitaw. Magaling talaga ang Pioneer Contact Bond kaya kahit sa presidente, pwedeng ipagmalaki ang gawa kong sapatos. [Using quality adhesive is really necessary for making shoes. If the adhesive is of good quality, the shoes will not be easily damaged even if they were not stitched. Pioneer Contact Bond is really reliable, that is why I can proudly show my works even to the president,” he emphasized. Tatay Oly was credited as the shoemaker who crafted the shoes worn by President Rodrigo R. Duterte. His daughter, Rosemarie, sent his father’s handmade leather boots to the fashion house that made the President’s Barong Tagalog for his inauguration. The president did not wear the boots to the inauguration but wore it when he met with US Secretary of State John

Expert cobbler Rolando 'Tatay Oly' Santos is one of the few remaining shoemakers of his generation, he bagan learning his trade at the age of 11.

Tatay Oly believes in the importance of good quality adhesives in making shoes

Kerry. President Duterte seemed to be This gesture by the President brought so pleased with Tatay Oly’s works that Marikina shoes into the spotlight once he even purchased another pair of black again despite the sudden setback in the leather shoes. demand for locally crafted shoes. In a

recent report, the Philippine Footwear Federation, Inc. (PFFI) noted that the industry faces the threat of losing its position as the shoemaking center of the country due to the stiff competition from cheaper foreign brands. Furthermore, the industry also faces a declining number of cobblers. The industry has seen many of the younger generation of shoemakers abandon their craft to take other jobs. Hence, the number of shoe factories dropped drastically from 7,000 in the 1970s to only 130 at present. Tatay Oly is one of the few remaining shoemakers of his generation. He began learning his trade at the age of 11. “Ang produksyon ng sapatos dito, nawawalan na ng ibig sabihin. Napakarami naming sapatero dito na dapat gumagawa, pero ngayon hindi na. Ibig sabihin, wala nang nagagawang

Keeping up with global hospitality standards By Bernadette Lunas HOSPITALITY management and training company, Asia World Hospitality, pushes for development of the Philippines’s hospitality education in a bid to be at par with global standards. At the recent 35th ASEAN Tourism Forum, the 10-member countries agreed to promote the region as a single tourism destination to drive economic growth. “The ASEAN integration and the switch to K to 12 are certainly great steps ahead for the Philippines but these are also the challenge,” reveals Asia World Hospitality Managing Director Margarita Borja. In order to level off with our Asian neighbors, Borja says, “What should be done is an upgrade of the current curricula, as well as the continuous development of the teachers and utilization of the top quality programs available in the market.” Asia World Hospitality, the official representative of American Hotel and Lodging Educational Institute (AHLEI) in the country, offers a range of international certifications for academic and professionals in the hospitality industry. The combination of Asia World and AHLEI allows students in the Philippines to gain an international diploma “which may serve as their key in obtaining a bachelor’s degree in the United States.” “The workshops being offered at the moment are Certified Guest Service Professional (CGSP), Certified Sales Professional, Certified Lodging Security Officer, Certified Hospitality Su-

Participants of Asia World Hospitality's first academic CGSP workshop hosted by UST

pervisor, and START (Skills, Tasks and Results Training) Program,” Borja told Manila Standard. According to Borja, the aforementioned certifications cater to a wide range of hospitality workers—from general manager level down to the front line employees. “It’s either in a self study or a workshop setting with local and international trainers,” says the Asia World Hospitality official. Hospitality educators, meanwhile, may gain knowledge to keep up with global standards through Certified Hospitality Educator (CHE) workshops. “CHE is the only professional development opportunity for secondary hospitality educators around the world,” explains Borja. The program equips faculty members of the hospitality field with tools to achieve their goals, as well as modern day prac-

Certified Guest Service Professional workshop aims to improve Philippines's hospitality standards

tices and advanced instructional methodologies. Borja further avers that CHE can help increase the graduation rates, while simultaneously producing skilled, real world-ready professionals for the hotel and lodging industry. CHE workshops are not limited to educators but are also applicable to human resource managers and training managers. The first series of CHE workshops in the Philippines was held in May and June and was participated in by 57 delegates from seven schools and one participant each from City of Dreams Manila and Seda Hotel Bonifacio Global City. The series of workshops was conducted by Fr. Robert Steele, a senior lecturer at AUT University, School of Hospitality and Tourism in Auckland, New Zealand. “I am convinced that after the completion of the CHE, they will be able to bring more value to their schools and students. I wish that the hospitality and tourism education in the Philippines will continue to flourish, and this is certainly an important step which should be replicated across the country,” said Fr. Steele during his stay in the country. Asia World continues to foster the upgrade of the country’s hospitality industry as it hosted CGSP for local trainers in September and October; CGSP for international trainers is happening in November, two more series of CHE are slated in October and November, and Certified Hospitality Revenue Manager also in November. Call (02) 556-7994 or visit asiaworldhospitality.com for more information on Asia World Hospitality and the AHLEI programs it offers.

sapatos. [The shoe production here is now losing its meaning. Though, there are a lot of cobblers who are supposed to do the job. However, they are not doing it anymore. Hence, new shoes are not being crafted.],” lamented Tatay Oly. In the coming months, RCI, Inc. will be conducting other efforts to show their support for the shoemakers and the shoemaking industry. “Since our company is a local industry leader, we want to contribute in uplifting the shoe industry in Marikina as we strongly believe in Filipino craftsmanship. We are happy to support people like Tatay Oly,” said Camille Fernandez, assistant product manager of RCI. “Tatay Oly’s story serves as an inspiration for the remaining artisans to continue doing their craft and to help restore the industry.”

Vatel scholarship for Benilde student CARINA M. AGCAOILI, a BS International Hospitality Management student at De La Salle-College of Saint Benilde (DLS-CSB) School of Hotel, Restaurant and Institution Management (SHRIM), is the recipient of the much-coveted Vatel Scholarship for AY 2016-2017. The grant is awarded annually by the France-based Vatel International School of Hospitality and Tourism Management to an incoming sophomore student for one year. The college’s Scholarship Screening Committee noted her academic excellence, as well as her admirable leadership skills, active participation in volunteerism and teamwork. This was amplified during a hotel immersion trip, wherein she exhibited exemplary performance, receiving positive reviews from her mentor, as well as fostering good working relationship with her colleagues. Vatel, in partnership with DLS-CSB, offers two-degree programs, namely, Bachelor Vatel-Manager en Hôtellerie Internationale and MBA Vatel-Directeur d’Hôtellerie Internationale. For 35 years, Vatel has prepared students for middle and higher management posts in the international hospitality and tourism industry. It has 31 schools around the world with more than 7,000 students presently enrolled in its programs. It has more than 29,000 alumni in its roster, who occupy management and leadership positions in global hotels and restaurants.

Vatel scholar Carina Agcaoili (second from left) with Vatel Business School International Affairs Director Julien Liscouet, Vatel Program's International Hospitality Management Chairperson Jesus Zapanta and DLS-CSB SHRIM Dean Angelo Lacson

FRIDAY, OCTOBER 28, 2016

PEOPLE

TVplus wins Stevies

...are talking about Liza Soberano A handful of Kapamilya stars descended on a posh hotel in Makati to grace the 10th edition of Star Magic Ball. But everybody in the ballroom turned into stellar remnants when Liza entered the venue wearing a Michael Cinco couture gown. The 18-year-old actress outshone everyone and broke the Internet as soon as her photos reached the Web. Talk about effortless beauty.

Jessy Mendiola People couldn’t bear to watch her interview at the Star Magic Ball with her rumored boyfriend, Luis Manzano. When the latter compliments her saying “I am claiming that I have the most beautiful date this evening,” she replies, “What am I say to that?” This cringe-worthy statement reached the virtual world like a wildﬁre proving that Jessy was indeed one of the most beautiful attendees of

the

glamorous event.

Janine Tugonon Another daughter of eve is this week’s talk of the town after her naked photos became viral online. The soon to be Victoria Secret model ﬂew to Dominican Republic as one of the calendar models of NU Muses, a global modeling search that the beauty queen topped. Many reacted on the nude photos belittling her effort as a desperate attempt to make it to the modeling world. Of course, they didn’t know that NU Muses is about and how it celebrates the forgotten art of the classic nude and the elegance and romance of the female form.

...are not talking about Sam Pinto Look who’s knocking on the Kapamilya’s door? The former PBB housemate seems to be back at ABS-CBN after appearing consecutively in three of the network’s shows. And what made her decide to come back is still a big puzzle. Did she finally realize that Kapuso Network only prioritize stars that are still hot? For any consolation, she has once experienced that kind of treatment. Xian Lim His official screen partner is going to have a reunion project with Gerald Anderson. Kim Chiu is being paired again with her former love team who happens to be her former flame, too. So, what is going to happen to the actor whose career heavily depends on his partner? No statement yet, but he’s going to be paired with another actress in a separate movie project. PMPC Star Awards TV Networks still scramble to get an award from the Philippine Movie Press Club’s Star Awards amid its questionable credibility. Where on earth can you find an award giving body that lets two or three people share a single recognition? Well, what can you expect from an organization that is ran and organized by tabloid and gossip writers?

CROSSWORD PUZZLE Friday, October 26, 2016

ACROSS 1 Compensate 7 Boxer’s move 10 “The West Wing” actor 14 Frame of mind 15 Fuss 16 Connery of film 17 Rainwater pipes 18 Liquid meas. 19 Beach cover 20 Where to see Louis IV (2 wds.) 23 Up and about 26 — -relief 27 Shopper’s dread 28 Motels of yore 29 Gift tag word 30 Util. bill 31 London break 32 Nearest star 33 Latched onto 37 Woof! 38 Before, in combos 39 Dawn goddess 40 Census info 41 Artists’ pads 43 A Stooge 44 Tijuana “Mrs.” 45 Make a wrong move 46 Ladle 47 “Moonstruck” Oscar-winner 48 Diver’s gear 51 Auric’s creator

52 Raise spirits 53 Darkness at noon (2 wds.) 56 Send forth 57 — vous plait 58 Peron’s third wife 62 Kitchen pests 63 Princess perturber 64 Green film 65 Heal over 66 Cen. fractions 67 Casino patron’s quest DOWN 1 Mantra chants 2 Dandy 3 Back again 4 Pasta toppings 5 Singer — John 6 Harper of “Tender Mercies” 7 Wild feline 8 Second president 9 Tree trunk 10 Falls upon 11 Ascertain 12 Florentine poet 13 Gump and Rooney 21 Steakhouse orders (hyph.) 22 Polite word

23 Hayworth and Coolidge 24 Torpid 25 Foul-up 29 Turmoil 30 Flock together 32 Helix 33 Zodiac twins 34 Harem head, once 35 White heron 36 “The Wreck of the Mary —” 42 Verbal combatant 46 J.R.’s town

47 Anti-slip devices 48 Cut flowers 49 Kind of relief 50 City on the Mohawk 51 More slippery 52 Theme 54 Glimpse from afar 55 Apple seeds 59 Chomped down 60 WSW opposite 61 Go on the —

ABS-CBN Corporation bagged two Stevie awards at the 2016 International Business Awards for its pioneering and game-changing digital terrestrial television product, ABS-CBN TVplus. ABSCBN TVplus won a Silver International Stevie Award for Best in New Product – Media and Entertainment Category and a Bronze International Stevie Award for Best in Marketing Campaign. The Stevie® Awards, the world’s premier business awards, honor achievements and positive contributions of organizations and working professionals worldwide. ABS-CBN Corporation had previously won a Gold Stevie Award in the Company of the Year – Media and Entertainment category at the 2014 International Business Awards “We take pride in being the first-to-market digital TV service that provides Filipino families relevant experiences of inspiration and innovation in their daily lives. This international award is a win for the Philippines and inspires us to continue innovating in the service of the Filipino,”says Chinky Alcedo, head of ABS-CBN Digital Terrestrial Television and ABS-CBN Mobile business units. ABS-CBN TVplus was commended for staying at the forefront of product innovation and marketing communication as it provided upgraded TV viewing experience and digital value-added services that go beyond television. “The various recognition given to ABS-CBN TVplus from international and local award-giving bodies is an affirmation of ABS-CBN’s efforts to equalize access and revolutionize television experience for the ordinary Filipino families,”Alcedo said. The award comes on the heels of ABS-CBN TVplus’ win at the 2016 Asia Pacific Stevie Awards in May where the product that offers clear picture and crisp sound won a Bronze Stevie for Best in N e w

Product Innovation and a Bronze Stevie for Best in Branded Development. ABS-CBN TVplus is widely considered as the biggest innovation on Philippine TV for transforming the Filipinos’ TV viewing experience. It carries free-toair channels such as ABSCBN and ABS-CBN Sports +Action in full digital clarity and four premium channels including CineMo!, all-day movie channel, YeY!, allday children’s entertainment channel, Knowledge Channel, which airs curriculum-based programs, and DZMM Teleradyo, the Philippines’ leading AM radio station on TV. ABS-CBN TVplus also offers the KBO (Kapamilya Box Office), a new prepaid pay-per-view service that showcases the latest movies, live events, teleserye marathons and specials. ABS-CBN TVplus previously won an Anvil Award and a Philippine Quill Award, which are two of the most prestigious communication award-giving bodies in the country. It also won Best Media Solution for Integrated Media at the 2016 Asia-Pacific Spark Awards for Media Excellence held in Singapore. ABS-CBN TVplus is available in Metro Manila, Rizal Cavite, Laguna, Bulacan, Pampanga, Nueva Ecija, Tarlac, Pangasinan, Benguet, and Metro Cebu. This year, this service has expanded to the key Visayas and Mindanao cities of Davao, Iloilo, Bacolod, and Cagayan de Oro. ABS-CBN is the first network to offer the Digital TV service in the Philippines after having invested heavily in infrastructure and test broadcast activities. More popularly known as the ‘mahiwagang black box’, ABSCBN TVplus was launched in February 2015 and has already distributed more than 1 . 8 M TVplus b o x es to date.

KAPUSO BIG WINNERS:

(from top) Best Comedy Actor Jose Manalo, Best New Male Recording Artist of the Year Derrick Monasterio, Kristoffer Martin (Best Single Performance by an Actor) and Alden Richards, the most decorated Kapuso star during the PMPC event

Isah V. Red, Editor Nickie Wang, Writer isahred@gmail.com

FRIDAY, OCTOBER 28, 2016

wins at PMPC’s Star for M-TV Awards ISAH V. RED

MA Network received honors from the Philippine Movie Press Club (PMPC) at the recently concluded Star For M-TV Awards: The Fusion Of Philippine Entertainment’s Best held at Novotel. The Network was given a number of recognitions for its quality entertainment programs. Kapuso Ultimate Star Jennylyn Mercado was one of the night’s biggest winners as she went home with the Best Drama Actress award for My Faithful Husband. Versatile actress Sunshine Dizon received the Best Drama Supporting Actress award for Little Nanay. One of GMA Artist Center’s multitalented leading men Kristoffer Martin once again proved his acting prowess as he took home the Best Single Performance By An Actor award for

Magpakailanman’s “Mag-ama Sa Bilangguan.” The ﬁrst ever reality sitcom on television starred by award-winning actor Michael V., Pepito Manaloto, won this year’s Best Comedy Show. Manilyn Reynes, one of Pepito Manaloto’s lead stars, won Best Comedy Actress. The sixth season of GMA 7’s reality search Starstruck bagged the Best Talent Search Program award. Comedian Jose Manalo, in turn, won Best

Comedy Actor for the weekend sitcom Hay, Bahay! Winning the Best New Male TV Personality award was Jake Ejercito for Eat Bulaga’s Lenten special, “God Gave Me You.” Kapuso comedy noontime show, Sunday Pinasaya, was recognized as Best Variety Show while Willie Revillame’s top-rating show Wowowin was awarded the Best Game Show. Several GMA News and Public Affairs shows and personalities also took home awards that night. GMA’s primetime ﬂagship news program 24 Oras was hailed as this year’s Best News Program. One of its anchors, GMA News pillar Vicky Morales, was recognized as Best Female Newscaster, in turn. Winning the Best Morning Show award is the country’s longest-running morning show, Unang Hirit. Meanwhile, GMA News TV’s internationally-acclaimed documentary program Reel Time is PMPC’s choice for the Best Documentary Program. Veteran investigative journalist Malou Mangahas was named Best Documentary Program Host for Investigative Documentaries. Biyahe ni Drew and program host Drew Arellano were once again hailed as Best Travel Show and Best Travel Show Host, respectively. Gandang Ricky Reyes has been awarded again as this year’s Best Lifestyle Show. Meanwhile, GMA Artist Center stars continue to make wave in the music industry as Pambansang Bae Alden

Richards won all his four nominations including Pop Album of the Year, Male Pop Artist of the Year, Album of the Year, and Song of the Year for his album Wish I May,, under GMA Records. Another Kapuso heartthrob who received his first recording award is Derrick Monasterio Monasterio, who took home the Best New Male Recording Artist of the Year award. Both artists won for their respective self-titled debut albums under GMA Records. Meanwhile, T.O.P. has proven its promise as a boy band after winning the Duo/Group of the Year award. *** Yen Santos returns on television and joins the cast of ABS-CBN primetime series Magpahanggang Wakas beginning this week. Her feisty and outspoken character Issa made its first appearance on Oct 21 and instantly got into a heated argument with Waldo (Jericho Jericho Rosales).. The two accidentally exchanged envelopes containing their resumes that prompted them to meet again. What role will Issa play in Waldo’s life? Will she finally help Waldo move on and forget about Aryann (Arci Arci Munoz)? Meanwhile, as Tristan (John John Estrada) and Aryann continue to make their relationship work, Aryann once again got a glimpse of her one true love.

The weekly sitcom “Pepito Manaloto,” this year’s PMPC Best Comedy show

OPM artists rock Sagana concert THE Filipino music scene was at an #OPMHigh as the Organisasyon ng mga Pilipinong Mang-aawit (OPM) recently staged Sagana: Isang Himig, Iba’t-ibang Tinig in Estancia at Capitol Commons. Featuring the hippest acts today, Sagana showcased 13 bands, a solo performer, and a theater group to promote the talent and passion of Filipino artists and audiences. In celebration of Linggo ng Musikang Pilipino, the event brought together the most loved OPM artists and this year, Sagana placed the indie community at the forefront to bring their hip sounds to a wider crowd. Performers included Paranoid City, BennyBunnyBand, Brisom, Jensen and The Flips, There’s ERA, Ramiru Mataro, Oswald Sleeps Tonight, Keiko Necesario, Ian Penn, Kaleidoscope Eyes PH, Banna Harbera, Fools and Foes, Aikee, and Ben and Ben with Cooky Chua. Popular band Itchyworms added ﬂair to the affair while the cast of the acclaimed Pinoy musical Rak of

The cast of “Rak of Aegis” dishes out a sample of the Pinoy musical’s well-loved hits popularized by the Aegis Band

Aegis also made an appearance and belted out Aegis favorites to the delight of the audience. Estancia at Capitol Commons, Ortigas & Co.’s newest retail destination, is proud to be a partner of the OPM music community for the event. “We are glad to be part of this event that brought together some of the best independent acts in the local scene today. The indie scene is an excellent source of pop music for listeners, in the same way that Estancia is the lifestyle destination for people who are on the lookout for fresh and unique

retail and food ﬁnds,” says Ortigas & Co. Shopping Centers Division Vice President and General Manager, Renee Bacani. Sagana: Isang Himig, Iba’t-ibang Tinig was made possible by OPM, Philippine Educational Theater Association, Ortigas & Co., Estancia at Capitol Commons, Quezon City Local Government, The National Commission for Culture and the Arts, Filipino Society of Composers, Authors and Publishers Inc., PhilPOP Foundation, and Philippine Amusement and Gaming Corporation.