BusinessMirror April 04, 2019

MISSION: PHL–RECOGNIZING, GIVING THANKS TO THE GLOBAL COMMUNITY

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OTHING is stronger than an idea whose time has come. Thus went the immortal words of the writer Victor Hugo, often quoted and borrowed for concepts and undertakings that have come to fruition, and ultimately foster worthwhile endeavors. One such idea is Mission: PHL, the B usi n e s sM i r ror Envo y s & E x pat s Awards, which will focus the spotlight on embassies and aid agencies that have been supportive of the Philippines’s journey toward a trajectory of growth and development. Continued on E4

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n Thursday, April 4, 2019 Vol. 14 No. 176

ADB cuts PHL outlook on budget, global woes

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By Cai U. Ordinario

@caiordinario

HE delay in the passage of the national budget, as well as the slowdown in the global economy, are some of the reasons that forced the Asian Development Bank (ADB) to cut its growth forecast for the Philippines this year.

Based on its Asian Development Outlook report, the Manila-based multilateral development bank now forecasts the Philippine economy to grow at 6.4 percent, slower than the 6.7 percent it estimated in the

A DO Supplement released in December 2018. In terms of inflation, the ADB said commodity prices will be slower than expected this year at 3.8 percent from the initial estimate of 4 percent. In 2020, the ADB estimates

that GDP growth will also be at 6.4 percent, while inflation will likely average 3.5 percent. “Yes, the delay in the approval of the budget has slowed expenditure but the government will have opportunities to catch up.

6.7%

ADB’s previous growth outlook in the ADO Supplement it released in December 2018. Based on its Asian Development Outlook (ADO) report, the Manila-based multilateral development bank now forecasts the Philippine economy to grow at 6.4 percent So once it is approved, we think it [spending] will catch up,” ADB Philippines Country Director Kelly Bird said.

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@ReaCuBM

HE Bangko Sentral ng Pilipinas (BSP) has remitted P4 billion to the Bureau of the Treasury (BTr) following the effectivity of Republic Act (RA) 11211, the Department of Finance (DOF) has reported. In its report to Finance Secretary Carlos G. Dominguez III, the DOF’s Corporate Affairs Group (CAG) said the dividend remittance by the BSP is in compliance with RA 11211, otherwise known as the New Central Bank Act, which took effect on March 5. “We got P4 billion from BSP during the signing of the enrolled bill, which amended their charter,” Finance Assistant Secretary Soledad Emilia J. Cruz said during a recent DOF executive committee (Execom) meeting. Under the amended New Central Bank Act, the BSP is instructed to remit a portion of its net profits to the National Treasury as dividends. The dividends from the BSP will also fund its capitalization, with the law calling for an increase in the Central Bank’s capitalization requirement from P50 billion to P200 billion. “The BSP shall remit 75 percent

Massive land reclamation requires massive public consultations Rene E. Ofreneo

LABOREM EXERCENS

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CCORDING to the Philippine Reclamation Authority (PRA), around 38,000 hectares of land are being proposed by the country’s big private land developers. Most of the proposed land-reclamation projects cover a large swathe of the Manila Bay, from Cavite to Manila and from Manila to Bulacan, Pampanga and Bataan. Some of the reclamation projects are even bigger than the city of Manila. Continued on A15

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BSP should keep rate cut option –economist

₧3.637B

By Bianca Cuaresma

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Amount remitted to the Treasury by the BSP in 2018, making it among the top dividend contributors that year

of its net profits as computed in this Act to a special deposit account [sinking fund] or to the National Treasury as dividends, or until such time as the net liabilities of the Central Bank shall have been liquidated through generally accepted finance mechanisms such as, but not limited to, write-offs, set-offs, condonation, collections, reappraisal, revaluation and bond issuance by the national government. Thereafter, it shall remit 50 percent of its said net profits to the National Treasury,” RA 11211 indicated. Amendments to the New Central Bank Act were signed into law by President Duterte in February 2019. In 2018, dividends remitted by government-owned and -controlled corporations (GOCCs) breached the P40-billion mark, the highest Continued on A16

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Treasury gets ₧4-billion dividend from BSP after New Central Bank Act By Rea Cu

2017 EJAP JOURNALISM AWARDS

the British Council. In his meeting with CECP officials, Trade Undersecretary Ceferino S. Rodolfo asked industry players to define what the creative economy is in Philippine context. He also suggested that CECP short list five industries the government has to focus on to make action plans targeted and objectives feasible.

HE Bangko Sentral ng Pilipinas (BSP) should consider cutting its rates this year, a local economist said, as threats to the country’s growth numbers are shaping up to be more pressing in 2019. In a research analysis, ING Bank Manila economist Nicholas Mapa argued that although the BSP’s primary mandate is controlling inflation to within-target levels, Central Bank officials should look to support economic growth this year now that the price growth seems to be back on a more subdued track compared last year. “The BSP’s primary objective is to maintain price stability conducive to a balanced and sustainable economic growth. And although we do not expect BSP to ever take their eye off inflation given their place as price stability champion, perhaps with inflation now within target, inflation expectations wellanchored, it’s time to consider why they keep inflation in check in the first place: sustainable economic growth,” Mapa said.

See “Creative,” A16

See “BSP,” A12

FILIPINO craftsmanship is at its best in this BusinessMirror file photo of a Manila FAME edition, which promotes the Philippines as a reliable sourcing destination for high-quality and design-oriented home, fashion, holiday, architectural and interior products. NONOY LACZA

PHL aims to become top creative economy By Elijah Felice E. Rosales @alyasjah

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HE Philippines has set its sights on becoming the leading creative economy in Southeast Asia by 2030 on the back of strong advertising, film, animation, game development and design industries. The Department of Trade and Industry (DTI) said in a statement

that the draft creative economy road map is now on its table. The draft was submitted by the Creative Economy Council of the Philippines (CECP) last week to gather more inputs before it is approved and implemented. The transmission of the document, the DTI said, is an offshoot of the memorandum of understanding signed last year by the agency with the CECP, National Commission for Culture and the Arts and

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n JAPAN 0.4717 n UK 68.9496 n HK 6.6893 n CHINA 7.8109 n SINGAPORE 38.7577 n AUSTRALIA 37.1239 n EU 58.8416 n SAUDI ARABIA 14.0013 Source: BSP (3 April 2019 )

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PCCI members near Manila Bay vow to heed env’tal rules

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By Elijah Felice E. Rosales

@alyasjah

HE country’s largest business network has instructed its members operating near and around Manila Bay to comply with environmental regulations in aid of government efforts to rehabilitate the area. The Philippine Chamber of Commerce and Industry (PCCI) vowed its members near and around Manila Bay will adhere to environmental regulations in support of the ongoing cleanup of the tourist spot. It also guaranteed firms affiliated with PCCI are stepping up their business practices to make them sustainable for the environment. However, the group appealed to the government to observe due process in dealing with noncompliant enterprises. “[The] PCCI assures the government of its support as a partner in this endeavor. The PCCI will encourage its member-businesses to

comply with environmental regulations and implement sustainable business practices, but also [appeals] to the government that due process should always be observed in dealing with noncompliance issues,” PCCI said in a recent statement. “The cleanup of Manila Bay is a huge and daunting challenge that cannot be done by the government alone and requires the support of the private sector,” the statement added. The PCCI argued that the government has to involve the private sector in the cleanup drive given the grandnetss and coverage of the

initiative. Further, the group said businesses need to take part in the rehabilitation of Manila Bay, as it is a center of economic activity, from shipping to tourism. “[The] PCCI further believes that the initiative to rehabilitate Manila Bay is paramount considering that Manila Bay is the country’s major center of economic activity ranging from shipping, industrial, commercial, fishing, aquaculture and tourism,” the statement read. Last Sunday, Env ironment Secretary Roy A. Cimatu headed simultaneous river and estero cleanups in 42 Metro Manila barangays as part of government efforts to rehabilitate Manila Bay.

Cimatu said that for the bay to be cleaned up, it is important to stop pollution right at the source. The government is implementing a P4.7-billion, seven-year program to rehabilitate Manila Bay, as mandated under Administrative Order 16 issued by Malacañang in February. The cleanup of Manila Bay comes on the heels of the government’s rehabilitation of Boracay Island. The government had to shut down the island destination for six months from April to October of last year to allow establishments near and around it to fix their sewerage systems believed to be polluting the waters.

[The] PCCI assures the government of its support as a partner in this endeavor. The PCCI will encourage its member-businesses to comply with environmental regulations and implement sustainable business practices, but also [appeals] to the government that due process should always be observed in dealing with noncompliance issues.”—PCCI

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DOF refutes Carpio: PHL never defaulted on loan repayments By Bernadette D. Nicolas @BNicolasBM

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HE Depar tment of Fin a nce (DOF) a sser ted on Wednesday that the country never defaulted on its repayment of loans as there was an extension of the repayment period agreed on by the government and lenders in 1983. Finance Assistant Secretary Antonio Joselito G. Lambino II was responding to the statement made by Supreme Court Senior Associate Justice Antonio Carpio that the Philippines already had an “event of default” in 1983. Lambino explained that a default happens if a party unilaterally decides not to pay a loan. “My understanding of the moratorium back in ’83 is that it was agreed [on] with the banks. So, since there was agreement and it was not a unilateral decision, the view is that, it was really not a default,” Lambino said on Wednesday in a Palace briefing. Lambino also argued that the loan was eventually paid since there was an adjusted repayment schedule. Sought for clarification, he also said that a delayed payment cannot be considered a default as there was a mutual agreement between parties. While the country was at its “most difficult” time in terms of its economy, Lambino said the government was still able to

discuss with its lenders on how to come up with a more flexible repayment schedule. Car pio earlier pointed out that the Philippines declared a moratorium on its foreign debt repayments in 1983 because the Central Bank did not have sufficient foreign exchange to service its foreign debts. Carpio claimed it is “not correct” to say that the country never defaulted on its debt because the mere suspension of repayment like declaring a debt moratorium, is already an “event of default.” Carpio also argued that even the country’s Chico River loan agreement with China says that there is an “event of default” when the borrower stops or suspends repayment to its creditors generally. The Makabayan bloc is also looking to question the deal before the Supreme Court, citing “onerous” provisions. President Duterte on Monday’s Cabinet Meeting ordered a review of all contracts entered into by the government with other countries and all its agencies’ deals with private corporations. The Solicitor General, the Department of Justice and all legal departments were tasked to do the review. If found to have onerous provisions, Malacañang said the government could opt to push for a renegotiation or rescission of the contracts.

By sheer numbers, Pinoys in Mideast, Africa rule OAV By Samuel P. Medenilla @sam_medenilla

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VOLUNTEERS from the public and private sectors work together at a recent Manila Bay cleanup led by the DENR. NONIE REYES

PHL population targets on track despite ‘political, cultural factors’ By Cai U. Ordinario @caiordinario

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HE Philippines’s population targets remain on track despite “political and cultural factors,” according to the National Economic and Development Authority (Neda). In a statement on Wednesday, Socioeconomic Planning Secretary Ernesto M. Pernia said the government aims to bring down the fertility rate to 2.4 children per woman from the current 2.7 children. Firm policies on population and development are already in place in the Philippines and should enable the government to meet its medium-term demographic-economic goals, Neda said. “Even in the face of challenging political and cultural factors, our country has achieved significant milestones at the outcome and policy levels. For one, access to maternal, neonatal, and

child health-care services has improved over recent years,” Pernia said. “Despite remaining gaps, we will vigorously pursue strategic ways to ensure people-centered, selfsustaining development toward the realization of the International Conference on Population and Development [ICPD] agenda in the Philippines,” he added. He explained that, while Filipinos continue to increase in number— around 2 million annually— population growth rate in the Philippines has declined by 1.76 percent. The increased use of modern family planning methods has brought down the total fertility rate to 2.7 children per woman from 5.7 in 1975, 4.3 in 1990, and 3 in 2013.

Policy interventions

PERNIA said the government is pursuing policy interventions to reach for and optimize the demographic dividend.

One example is the recent enactment of the Universal Health Care Law, which mandates citizens to enroll into the National Health Insurance Program and expands the Program’s coverage to include free medical consultations and laboratory tests. The government also continues to institutionalize education reforms through the K to 12 Program, as well as the provision of free tuition fees for tertiary students of state universities and colleges. T hese policies inc lude the issu a nce of E xec ut ive Order 12 (Series of 2017) to achieve and sustain zero unmet need for modern family planning by 2022, as well as the inclusion of the Responsible Parenthood and Reproductive Health Law’s (R A 10354) full implementation in the President’s 0-10 Socioeconomic Agenda. Pernia also cited the recent approval of the

intensified implementation of the National Program on Population and Family Planning. “An important part of the strategy, as laid out in the Philippine Development Plan 2017-2022, is to set in place measures that improve and develop our human capital to full potential,” Pernia said. “We thus call on all countries present to renew and deepen our commitment to implementing the ICPD agenda, an important part of the Sustainable Development Goals,” he added. Pernia is representing the Philippines at the 52nd Session of the United Nations Commission on Population and Development (CPD) in the United States. He is leading the Philippine delegation to the UN-hosted event in New York City—which runs from April 1 to 5—composed of Neda, the Department of Foreign Affairs and the Commission on Population and Development.

HEN it comes to overseas absentee voting (OAV), Filipinos in the Middle East and Africa will have the biggest say in the outcome of the 2019 polls, by their sheer numbers. Commission on Elections data showed about 49.7 percent or 885,274 of the registered 1.7 million land-based Filipinos abroad are based in the two regions. Comelec’s Office for Overseas Voting (OOV) said most or 508,037 of the said Filipinos are women, while the remaining 377,237 are men. The Asia-Pacific region has the next most numerous registered land-based Filipino voters abroad with 393,728. The North and Latin American region came in third place with 334,947 voters and Europe is in last place with only 165,191 voters. For the sea-based category, the European region took the lead with 22,433 registered voters. It was followed by North and Latin American region with 10,468

voters; Asia-Pacific region (7,662); and Middle East and African region (2,470). Comelec’s preparations for the OAV are already in the final phase with only nine remaining days before it starts on April 13, 2019. Depending on the location of the voter, the OAV will be held through personal or by-mail; and manually or with the use of the Vote Counting Machines (VCM). Come lec OOV D i rec tor i n Charge Elaiza Sabile-David earlier reported they have completed the deployment of all the VCMs and ballots for the automated personal voting. Comelec Spokesman James B. Jimenez said the outcome of the OAV will not be known until after the voting period on May 13, 2019, here in the country. He made the reminder in anticipation of rumors, which regularly circulate during the OAV, that the result of the 2019 elections will be revealed before May 13. “They should not believe these kinds of news,” Jimenez said.

17 HURT IN SULTAN KUDARAT EXPLOSION By Rene Acosta

@reneacostaBM

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SUSPECTED improvised bomb exploded in front of a restaurant in Isulan, Sultan Kudarat, on Wednesday afternoon, wounding at least 17 people, initial police and military reports said. Maj. Gen. Cirilito Sobejana, commander of the Army’s 6th Infantry Division, said the bomb went off in front of Carlito’s Restaurant at Barangay Kalawag 2 in Isulan, Sultan Kudarat, at around 3:15 p.m. The wounded were rushed to two separate hospitals in the province, he added. Sobejana said investigation is ongoing and no suspect or group had been identified, or claimed responsibility in the bombing.

A statement from the military’s Joint Task Force Central said a mechanized team from the Army has been sent to cordon off the area and assist in the investigation. It said ordnance experts are already panning the site and its surrounding areas. “All military checkpoints were ordered to implement strict measures to lock down possible perpetrators,” the statement read. The bombing came more than two months after a reported su ic ide bombi ng roc ked t he Jolo cathedral in Sulu, killing 23 people and wounding at least 95 others. The bombing was owned by the Islamic State, which the government said was perpetrated by an Indonesian couple.

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Editor: Vittorio V. Vitug • Thursday, April 4, 2019 A3

PNP chief doubts validity of video linking Duterte’s son to drug trade

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By Rene Acosta

@reneacostaBM

HE Philippine National Police (PNP) is cool to investigating the alleged involvement of presidential son Paolo Duterte in the illegal drugs trade as it deems the report a mere “propaganda” timed for the election season. “We are giving warning and reminders to our netizens who are fond of the social media that these videos are all self-serving. We don’t know what their messages are or even the motive of their showing,” said PNP chief Director General Oscar D. Albayalde on Wednesday. “Remember, we are on election [mode] and so a lot of propaganda will come out and we should not readily believe in all of these things,” he added. Albayalde reacted to claims made by a certain “Vicoy” through a video, saying that the younger Duterte is allegedly in the payroll of a big time drug syndicate, along with Waldo Carpio, the brother of Duterte’s brother-in-law. Carpio, according to the video, is currently an undersecretary at the Department of Agriculture, and topped the list of individuals and personalities who were allegedly receiving a monthly fee from the drug syndicate that Vicoy did not identify. “It is very unlikely that if you are giving a tara, it’s not in a formal letter like that one. So the motive is very questionable,” Albayalde said, noting that in the blue book of “jueteng,” or the illegal numbers game, which they usually recover, the listing is in a small notebook. Vicoy, who claimed to have been a member of the drug syndicate that operated in Southern Luzon and in the Visayas, but which he had already left, said Carpio was receiving a monthly fee of P30 million, which, in turn, is being deposited to an international account allegedly under Duterte name. “He has the biggest collection,” he said. The “whistle-blower,” whose identity in the video was obscured and claimed he was under threat from his former colleagues, said that in May last year, Carpio allegedly withdrew from a bank some P170 million and was deposited in Duterte’s account. Another P210 million was also allegedly withdrawn in December 2018 and again ended up in Duterte’s account. Vicoy alleged that the alpha numeric code of Duterte’s account can also be seen on the presidential son’s tattoo, a dragon that is on his back. The same number is what allegedly is listed in the blue book. Vicoy claimed that he had with him the list containing the names and even code names, and the amount that the

Makabayan bloc pushes investigation into NegOr killings, blasts Albayalde By Jovee Marie N. Dela Cruz

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@joveemarie

HE Makabayan bloc in the House of Representatives on Wednesday filed resolutions urging the House Committee on Human Rights to investigate the alleged killing reportedly by joint police and military operatives in Negros that victimized 14 farmers in Canlaon City, Manjuyod and Santa Catalina towns on March 30. The Makabayan bloc group, which include Party-list Reps. Ariel Casilao (Anakpawis), Carlos Isagani Zarate (Bayan Muna), Emmi de Jesus (Gabriela), Antonio Tiñio (Alliance of Concerned Teachers), Arlene Brosas (Gabriela), France Castro (Alliance of Concerned Teachers) and Sarah Jane Elago (Kabataan), also called for the ouster of Philippine National Police (PNP) chief Director General Oscar D. Albayalde following the deaths of the farmers in Negros Oriental. Under House Resolution (HR) 2533, they asked the House Committee on Human Rights to conduct an inquiry, in aid of legislation, on the March 30, 2019, killings as result of operations carried out by elements of the PNP and the military. HR 2533 also asked for the immediate and unconditional releases of peasant activists and residents of Negros Oriental, including Nestor Kadusale, peasant leader of Kapunongan Alang sa Ugma sa Gagmay’ng Mag-uuma sa Oriental Negros (kaugmaon) and Azucena Garubat, a peasant woman activist of Naghiusang Mag-uuma sa Panubigan (Namapa) and also the Anakpawis party-list Canlaon City chapter coordinator, whose arrests coincided with the deaths of the 14 farmers. The bloc also asked for the scrapping of the “Oplan Sauron” being carried out by the PNP and the Armed Forces of the Philippines (AFP) in Negros Oriental, that “is causing mass killings and political persecution of peasants and activists since December 2018 to March 2019.” The lawmaker said the killings in Negros Oriental are crimes against humanity, targeted assassinations of leaders and members of local peasant organizations perpetrated by the PNP and AFP in the guise of anti-criminality operations. “The intention is to violently repress organizations fighting for land and livelihood, sow terror in their communities and deprive the Makabayan bloc of votes in the upcoming elections,” the bloc statement said.

individuals were receiving from the drug syndicate, with the entry beginning in 2010. Albayalde said that if the whistle-blower wanted to be investigated, then they will probe him and his claims.

“But as of this time, if we are going to do it, some more videos that are like that will come out and it will exhaust our time,” he said. Albayalde said that if the Palace will order for an investigation, they will do it. Anyway, it

could also be checked through the Anti-Money Laundering Council. “But as I have said, that would be self-serving. I don’t even know if that would be admissible in court because anybody can do that video,” he said.

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If you have any information / objection to the above mentioned application/s, please communicate with the Regional Director thru Employment Promotion and Workers Welfare (EPWW) Division with Telephone No. 400-6011.

ATTY. ANA C. DIONE, CPA REGIONAL DIRECTOR

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In the ad material of Notice of filing of Application for Alien Employment Permits published on March 29, 2019, the position of Mr. Zhang, Haiping under WANFANG TECHNOLOGY MANAGEMENT INC. should have been read as Chinese Mandarin Customer Service Representative and not as published. While in the application published on March 9, 2019, the applicant of BIG EMPEROR TECHNOLOGY CORP. should have been read as Mr. Lyu, Dongbo and not as published. If you have any information/objection to the above mentioned application/s, please communicate with the Regional Director thru Employment Promotion and Workers Welfare (EPWW) Division with Telephone No. 400 6011.

ATTY. ANA C. DIONE, CPA REGIONAL DIRECTOR

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DFA, SBMA eye consular office in Subic Bay Freeport

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SUBIC BAY FREEPORT—Because of consistently long queues each time a mobile passport processing team is in town, the Department of Foreign Af-

fairs (DFA) is now committed in putting up a permanent consular office here to better serve residents of the Subic Bay area and nearby parts of Central Luzon.

www.businessmirror.com.ph According to DFA Assistant Secretary Neil Frank Ferrer, the planned consular office in Subic will not only provide services for passport applicants, but will

also undertake document authentication, assistance to nationals, and delayed registration of birth, marriage or death for Filipinos abroad. Henry EmpeĂąo

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C-5 South Link segment 87% complete

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METROPacificTollwaysSouthCorp.(MPTSouth) has so far completed 87 percent of the first segment of the P10-billion C-5 South Link Express-

way and is geared up to open the thoroughfare to commercial traffic in the next few months. Public Works Secretary Mark A. Villar said

Thursday, April 4, 2019 A11 the private concessionaire is close to finishing the construction of Segment 3A1, or the the first section of the expressway, which spans 2.2 kilo-

meters from Merville in Parañaque to C-5 crossing the at-grade segment of the South Luzon Expressway and Skyway. Lorenz S. Marasigan

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DENR: No permit for firm that brought dredging vessel to Lobo

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By Jonathan L. Mayuga

@jonlmayuga

HE Seagate Engineering and Buildsystems, a company that reportedly commissioned a Chinese-manned ship that stirred speculation of illegal dredging activities in a fishing village in Lobo, Batangas, has no permit to operate, an official of the Department of Environment and Natural Resources (DENR) said on Wednesday.

Undersecretary Benny D. Antiporda, deputy spokesman of Environment Secretary Roy A. Cimatu, said the Chinese-manned M V Emerald, a 2,990 hopper dredger, is not supposed to be operating in the area as the environmental compliance certificate (ECC) of Seagate Engineering has already been suspended by the DENR. “We have suspended all ECCs of the dredging company, Seagate Engineering. The Mineral Ore Export Permit application of Seagate was also denied last February,” Antiporda, also DENR undersecretary for local government units and solid waste management told the BusinessMirror.

He said the presence of the vessel, which alarmed residents of Ba ra ngay L agad l a r in, has no permit to dredge or extract minera ls, much more, transport any mineral resources with no permits both from the local government, and the Mines and Geosciences Bureau (MGB) of the DENR. “Wala naman talagang operation [They were not conducting any operation]. They are not operating, yet. They are there but they cannot operate. If they do, we will take action against them,” the DENR official said. Lobo, Batangas, is a fishing town and is surrounded by rich marine biodiversity. Part of the

Verde Island Passage, Lobo is being targeted by several mining companies but residents have strongly opposed the entry of large-scale mining to protect their environment. The Verde Island Passage has often been referred to as the world’s center of marine shore fish biodiversity. Reports said Seagate is planning to extract sand. The MV Emerald was spotted off Barangay Lagadlarin since Thursday and was anchored close to a 30-hectare mangrove forest. Local officials denied issuing permit or approval of the ship’s docking in the area, which happens to have no pier. Later, Seagate representatives went to

talk to local officials asking permission to dredge and extract sand at a nearby river. It was learned that Seagate Engineering had a deal with the former mayor of Lobo in 2008 for the company to dredge the river. But the plan did not push through. The representative of Seagate allegedly showed an ECC allegedly issued by the DENR’s Environmental Management Bureau in 2018, which Antiporda said, has been suspended effective immediately. “If they w il l continue to operate w ithout an ECC or permit from us, then we w il l ta ke action against them,” A ntiporda said.

Lifting of SSG on coffee imports not part Thin power reserve prompts NGCP to hoist of Manila-Jakarta agri deal, says DA’s Piñol yellow alert status for three consecutive days By Jasper Emmanuel Y. Arcalas @jearcalas

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ANILA is not inclined to lift the special safeguard duty (SSG) on coffee imports despite its warming ties with Jakarta, which lobbied last month for the lifting of the trade measure in exchange of better agricultural trade. More so, Agriculture Secretary Emmanuel F. Piñol said the Philippines did not sacrifice anything in exchange of easing up of the Indonesian market to local farm products. Piñol made the pronouncements few days after Jakarta has allowed the entry of Philippine farm produce, particularly from Mindanao, after successful bilateral negotiations between top trade officials of the Southeast Asian economies. “There’s no such thing,” the agriculture chief told reporters recently when asked if the $80-million investment over the next years by Kopiko-maker PT Mayora Indah Tbk

(Mayora) was in exchange of lifting the SSG on coffee imports. “Indonesian Trade Minister Enggartiasto Lukita is aware that PT Mayora has a request to lift the SSG but told me that they are not going to push with that issue. They will continue the investment even with the SSG in place,” he said. Last month, former Agriculture Undersecretary for Policy and Planning Segfredo R. Serrano bared to reporters that Indonesia demanded that the Philippines lift the SSG in exchange for a local coffee factory. Furthermore, Serrano added that Indonesia linked the SSG on imported coffee to the long-standing request of the Philippines to expand the access of local farm products to the Indonesian market. Piñol added that Indonesia has adopted a “Philippine-first policy” wherein Jakarta would prioritize the sourcing of the goods they need from Manila over other countries. “Starting now, they would look

ADB. . . continued from a1

The delay in the approval of the budget and decision of the Commission on Elections (Comelec) to grant exceptions to big-ticket infrastructure projects from the election ban could affect growth this year. However, ADB said its growth estimate for the Philippine economy is still higher than the 6.2-percent GDP growth posted in 2018. The ADB said the country is one of three Southeast Asian countries that are expected to outpace its growth in 2018 this year. The report stated that in half of the 10 subregional economies in Southeast Asia, growth is forecast to slow this year, while Indonesia and the Lao PDR will be unchanged; and Brunei Darussalam, Myanmar, and the Philippines will post higher growth. “There are two reasons. One, you are least vulnerable to a sharp slowdown in exports. A lot of the other countries are very export-intensive. Second is the government public spending on infrastructure. It has a large infrastructure program, it has increased last year on infrastructure, it reached 6 percent of GDP [and] we expect that to continue above 6 percent. And that’s a bit different from its neighboring countries. The Philippines has a major infrastructure program,” Bird explained. The rollout of priority public investments in infrastructure, such as bridges, expressways, ports, and railways nationwide will ensure that prospects for private investment remain bright, given better access to markets and job opportunities. Momentum in private construction is expected to be sustained by continued strong demand for office and retail space and housing. In addition, the services and manufacturing sectors will also be the main growth drivers in the near term. Strong retail trade and expansion in business-process outsourcing will

continue to spur growth in services. “The Philippine economy is on a healthy growth trajectory, with public and private investment sustaining strong growth for the economy this year and next. The risks to the growth outlook are tilted on the downside, with rising local investments likely offsetting any impact from a faster-than-expected slowdown in the global economy,” Bird said. Inflation is expected to ease to 3.8 percent in 2019 and 3.5 percent in 2020 as global oil prices moderate, food supply improves with a recent law replacing quantitative restrictions on rice imports with tariffs, and last year’s monetary tightening continues to be effective, according to the report. A major policy challenge is the structural and policy impediments to agriculture growth, the report said. Agriculture has been underperforming for the past two decades, growing by an average of 1.5 percent annually from 2011 to 2018. With half of the country’s population residing in rural areas and agriculture providing a quarter of the country’s total employment, farm and offfarm income generating activities are critical for fostering inclusive growth. The law liberalizing rice importation and establishing the Rice Competitiveness Enhancement Fund provides a unique opportunity to lift rural incomes by enhancing farm productivity and helping farmers to produce higher-value crops. More needs to be done, however, such as investing in rural infrastructure, better irrigation, crop insurance, and innovation that engage private sector providers of extension services to farmers. At the same time, it is important for the government to support emerging growth industries in rural areas, like tourism, that generate offfarm income.

at the Philippines first as a priority source of the things that need before sourcing it from other countries,” he added. Piñol said the Department of Agriculture (DA) is now looking for potential Indonesian importers of Philippine shallots to make the first exports to the Southeast Asian market. Furthermore, he added that the technical working group (TWG) comprised of the Philippines, Indonesia and Malaysia, would start addressing issues over palm oil next week. The Philippines is trying to reduce its trade imbalance with its Southeast Asian neighbor. Data from the Philippine Statistics Authority showed Manila imported $6.4 billion from Jakarta last year, of which Piñol claimed, an estimated $1 billion are agricultural products, including coffee and palm oil. On the other hand, the Philippines exported $866.2 million to Indonesia, PSA data show.

By Lenie Lectura

@llectura

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ECAUSE of thin power reserves, the Luzon grid was placed on yellow alert status for the third consecutive day on Wednesday, the National Grid Corp. of the Philippines (NGCP) said on Wednesday afternoon. A yellow alert is issued when operating reserves have dropped below the required 647-megawatt contingency in Luzon, or equivalent to the largest unit in Luzon, which is the 647-MW coal-fired power plant in Sual, Pangasinan. The yellow alert notice took effect from 2 p.m. to 4 p.m. The NGCP, which issues alert notices, noted that the “insufficient” operating reserve was mainly due to the high system demand and the forced outage of Pagbilao 3 (420 MW). There are also other plants that are still offline due to unplanned outage. These are the Masinloc 2 (344 MW), Pagbilao 1 (382 MW), SLTEC 1 (150

MW) and Malaya 2 (350 MW). There are also derated plants that did not operate at their full capacity. These are Calaca 2 at 200 MW from its declared 300 MW capacity, Malaya 1 at 150 MW from 300 MW, and SLPGC 2 at 100 MW from 150 MW. Last April 2 and 3, the NGCP also issued the same level of alert due to the same reasons. The Department of Energ y (DOE) said it is closely coordinating with power industry players to ensure the delivery of electricity services to consumers. It includes the facilitation of incoming plants that are undergoing commissioning and testing, such as Masinloc 3 for Luzon and Therma Visayas Inc. 2 for the Visayas. The Luzon grid was placed on yellow alert for three days last month that could push power rates up for April. “During the first week of March, when we had a series of yellow alerts, the Load Weighted Average Prices [LWAP] in the spot market reached as high as P12 per kilowatt

[kWh],” said Meralco Utility Economics Head Lawrence Fernandez. Citing Wholesale Electricity Spot Market (WESM) data, Fernandez said the LWAPs for March 4 and 5 were at their highest so far for the year. “It was P12.698/kWh in March 4, and P11.685 per kWh in March 5,” he said. In the absence of a yellow alert, the LWAPs normally reached about P7 per kWh. “In the immediately preceding week, the highest daily LWAP was only P7.327 per kWh. The highest daily LWAP was only P7.48 per kWh,” said Fernandez. Meralco will soon be able to calculate the impact of these yellow alerts in the April power bills soon. It is set to announce next week the power rates for this month. Meralco partly sources its power requirements from the WESM. Any adjustment in the cost of power purchased by Meralco is reflected in the generation component of an electric bill. Whenever a yellow alert is issued, this surely has an impact on WESM prices.

Amid Metro water crisis, lawmaker pushes MWSS charter, Public Service law revision By Jovee Marie N. Dela Cruz @joveemarie

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MEMBER of the House Committee on Metro Manila Development, citing the urgency for a fair and modern water utility services for consumers, on Wednesday urged the 17th Congress to approve pending measures to amend the 1971 charter of the state-run Metropolitan Waterworks and Sewerage System (MWSS) and the Public Service Law of 1963. Noting how the early 1990s water crisis during the term of former President Fidel V. Ramos led to the MWSS privatization and the entry of water concessionaires in Metro Manila, House Assistant Majority Leader and Bagong Henerasyon Party-list Rep. Bernadette Herrera-Dy said it is again timely to amend the MWSS charter to explicitly define water concessionaires as

BSP. . . continued from a1 In 2018 the BSP hiked rates by a total of 175 basis points in order to control inflationary pressures that soared to 6.7 percent in September and October that year. The latest print shows inflation taming back to the BSP’s 2- to 4-percent target range to hit 3.8 percent in February, with March expected to settle within the 3.1 to 3.9 percent range according to the most recent forecast from the BSP Department of Economic Research.

Inflation threats vs growth threats

MAPA acknowledged that although

public utilities. There are three pending bills calling for the creation of a Water Regulatory Commission with nationwide coverage, not just for Metro Manila. The measures are pending before the House Committee on Government Enterprises and Privatization, and House Committee on Public Works. Meanwhile, the House has already approved House Bill 5828, or the act providing for the definition of public utility amending for the purpose Commonwealth Act 146. The bill provides a clear definition of public utility that covers three sectors: distribution of electricity system, transmission of electricity system, and water pipeline distribution system or sewerage pipeline system. Herrera-Dy said these bills could still be passed when session resumes on May 20.

Moreover, Herrera-Dy said, public utility status for the water concessionaires will mean their ability to charge their customers can be reasonably limited. According to the lawmaker, the legal franchise to provide water services is with the MWSS, which farms it out to the concessionaires. “The Water Crisis Act of 1995 and its implementing EO [Executive Order] 311, Series of 1996 did not transfer the franchise to the concessionaires. It remained with MWSS. What I want to happen is for the franchise to be legislative in the same way that other public utilities seek franchises from Congress now,” Herrera-Dy said. She said the passage of these measures would also ensure accountability to the public through their representatives in Congress. “For operational matters, the Water Regulatory

Commission can be empowered to level the playing field for both consumers and service providers, and authorized to penalize the franchise holders for prolonged and large-scale service interruptions,” HerreraDy added. “We should prioritize overhauling the circa 1936 Public Ser vice Law, which is so antiquated and obsolete that it really no longer works. It is a Commonwealth-era law,” she added. “The bonsai effect of this antique law limits not just business growth but all the quality and efficiency of services to the public. Ultimately, the Filipino people suffer,” she said. The lady solon said new law should have an automatic review clause so that every ten years, it will be revisited by a joint Congressional oversight committee for continuing relevance and efficacy.

inflation seem to fall safely within the BSP’s target range in the coming months, threats to price growth still loom in the horizon for this year. Among these threats include the rising oil prices in the international market, as well as the potential effect of El Niño on food supply in the coming months. These threats, however, are all driven by the so-called cost-push forces, meaning they are in the supply side of the economy, thereby best addressed by nonmonetary policy measures—such as the recently passed rice tariffication law.

“Although threats to the inflation outlook remain, these risks emanate from the supply side of the equation with the BSP’s tool kit less effective in keeping this type of price pressures in check,” Mapa said. “Meanwhile, threats to the growth outlook appear to be more pressing and immediate with the budget delay, El Niño crop damage and the lagged effects of BSP’s 2018 rate hike cycle all currently sapping growth momentum,” he added. Recent economic data, according to the ING economist, paint a not-sorobust picture for economic growth,

with government spending considerably not as potent as last year while the trade balance remains negative. He also said that 2019 sees a market with tightening liquidity conditions, and decelerating inflation in an environment of an ultradovish Fed. “Given this backdrop and the expectations for a Fed pause, the consensus for at least some easing among emerging market central banks appears to be warranted,” Mapa said. The BSP is expected to conduct its next monetary-policy setting meeting on May 9.

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www.businessmirror.com.ph

Editor: Jennifer A. Ng • Thursday, April 4, 2019

A13

NFA hikes palay procurement goal for 2019

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HE National Food Authority (NFA) has increased its palay procurement target to 14.46 million bags, or 723,000 metric tons (MT), for this year after the rice trade liberalization law took effect on March 5.

The NFA’s new goal is nearly double its original procurement target of 7.78 million bags, or 389,000 MT, for 2019. It is also significantly higher than the 1.24 million bags, or 62,000 MT, purchased by the food agency from farmers last year. “With the implementation of Republic Act [RA] 11203, or the Rice Trade Liberalization Law, rice distribution was removed from the functions of NFA,” NFA OIC Administrator Tomas R. Escarez said in a statement. “We now have to shift our focus to palay procurement. NFA will continue to serve our farmers by buying their produce to ensure a reasonable return for their harvest, especially now that farmers are suffering from the effects of El Niño and private traders are buying low,” Escarez added. Under the draft implementing

rules and regulations of RA 11203, Agriculture Secretary Emmanuel F. Piñol told the BusinessMirror that the NFA would adopt a “rolling” buffer stock with an “optimal level” of 15 to 30 days’ worth of consumption and would still be allowed to purchase palay beyond that level. Any volume that would exceed the 30-day stockpile would be sold in the retail market, especially the old stocks, Piñol added. He said the government will provide the NFA “sufficient funds” to purchase a stockpile equivalent to at least 15 days of national consumption. Based on the computation of the BusinessMirror, the NFA would need at least P15 billion to be able to build up a 15-day stockpile at its present buying price. In the first quarter of the year, the NFA said it has bought a total

A FARMER sells his palay to the National Food Authority in Zamboanga del Sur in this file photo. NFA PHOTO

of 1.52 million bags, or 52,600 MT of unmilled rice from local farmers in the first quarter. Escarez said the food agency’s total palay procurement is 5,120 percent higher than last year’s 20,450 bags or 20.45 MT.

In the month of March alone, Escarez said the food agency bought a total of 780,397 bags, or 39,019.85 MT of palay from farmers. T he incent ives ef fect ively raised the NFA’s buying price for palay from P17.40/kg for indi-

vidual farmers and P17.70/kg for members of farmer cooperatives/ organizations to P20.40/kg and P20.70 per kg, respectively. Based on NFA data, the highest palay procurement as of March 31 by NFA branches were recorded

in the provinces of Tarlac with 116,907 (bags); Isabela, 112,855; Occidental Mindoro, 110,904; North Cotabato, 103,951; Nueva Ecija, 87,072; Sultan Kudarat, 70,996; Bulacan, 58,454; Bataan, 29,934; Cagayan, 29,241; and Ilocos Norte, 26,143. RA 11203, or the rice trade liberalization law, deregulated the NFA and limited it to a bufferstocking agency. However, the law and even the latest version of the IRR did not have a clear provision regarding the future of the NFA’s market participation. Last month, Piñol said the NFA Council introduced changes to the IRR of RA 11203 as the removal of the food agency’s participation in the market would “create instability.” Even without the final IRR, the NFA said it would “no longer exercise regulatory functions over the international and domestic rice trade” starting March 5, as stipulated by RA 11203. Among the regulatory powers that would be stripped away from the NFA are: licensing and registration of entities engaged in grains businesses; collection of regulatory fees; issuance of warehouse receipts; warehouse inspection; seizure of hoarded stocks; and enforcing rules and regulations concerning rice trade.

PHL sugar production up 14.48% in March–report PSA: Cattle, carabao By Jasper Emmanuel Y. Arcalas @jearcalas

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HE country’s sugar output as of mid-March expanded by 14.48 percent year-onyear to 1.662 million metric tons (MMT), according to the latest data from the Sugar Regulatory Administration (SRA). SRA data published on April 1 showed that raw sugar output in the current crop year (CY) 20182019 is already 211,000 MT over the 1.45 MMT recorded in the same period in the previous crop year. Figures from the SRA indicated that the higher output may have been driven by higher volume and better-quality sugarcane milled

from September 1 to March 17. During the reference period, sugarcanes milled reached 17.732 million MT, higher than the previous year’s 16.836 MMT. Also, the sugar-milling recovery rate as of March 17 rose by 8 percent to 1.89 50-kilogram bags per ton cane (LKg/TC), from 1.75 LKG/TC a year ago. Total raw sugar demand as of March 17 declined by 17.70 percent to 1.002 MMT, from 1.218 MMT a year ago, SRA data showed. Domestic withdrawals fell by 2.49 percent to 967,188 MT from 991,920 MT recorded in the same period of 2018. SRA data also showed that refined sugar output grew by 3.46

percent to 28,048.66 MT from 27,110.21 MMT. Millsite prices of raw sugar declined by 4.72 percent to 1,451.31 per LKG from 1,523.16 per LKG in the previous year. Earlier, the Philippine Sugar Millers Association (PSMA) told the BusinessMirror that production in the current crop year is on track to hit the SRA’s forecast of 2.08 MMT as data shows higher sugarcane delivery and higher sugar content. The current crop year, which would end on August 31, is currently at the tail end of the milling season and would soon enter off-season. Confederation of Sugar Producers Association earlier urged the

SRA to increase local sugar supply by prioritizing the domestic market over the United States, as El Niño could cut sugarcane output in the current crop year. The SRA earlier revised its output projection to 2.079 MMT, from 2.225 MMT due to bad weather in some sugarcane-producing provinces. The forecast is slightly lower than the 2.08 MMT produced in crop year 2017-2018. The decline in the country’s sugar output in CY 2017-2018 was attributed to “unfavorable weather conditions,” particularly the increase in rainfall over some sugar-producing provinces. Rains affect the yield of sugarcane, as wet canes have lower sugar content.

What happens when an organic burger chain runs out of vegan patties

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EATTLE entrepreneur Neal Zeavy was casting about for a new business a few years ago and hit on a novel idea: an organic burger chain. Nic’s opened in the Chicago suburb of Rolling Meadows in 2017, serving up a classic fast-food menu of burgers, fries, chicken nuggets and soft-serve ice cream. Everything is organic: the pickles, seasonings, even the ranch sauce. If the grub isn’t healthy exactly, it appeals to diners keen to feed their families food guaranteed toxin-free by the United States Department of Agriculture (USDA). “We’re not going to claim that you’re going to lose weight eating cheeseburgers and French fries even if they’re all organic,” Zeavy says. “It’s mostly knowing that you’re not eating all the other crap.” Business has been sufficiently robust for him and his partner to open two more locations, with a fourth scheduled to go live this year in Evanston, Illinois. Organically raised food is commonplace in the US, and everything from peaches to chocolate bars carries the familiar green USDA-certified label. Last year, organic food and drink sales grew to almost $45 billion, a 5.5-percent jump from 2017, according to the Nutrition Business Journal. That’s faster than conventional food sales, which have been flat or declining for the past three years.

AN employee prepares a hamburger at Nic’s Organic Fast Food. CHRISTOPHER DILTS/BLOOMBERG

“Consumer demand for organic food is still growing very fast,” says USDA agricultural economist Catherine Greene. While millennial parents are feeding that desire, Gen Z will be “even more interested,” she says. And yet very few big restaurant chains make a point of using organic ingredients. Even Chipotle Mexican Grill Inc., which prides itself on quality meat and produce procured from sustainable farms, makes no mention of organic in its marketing or menus. The 23.7 million pounds of organic rice, beans, tortillas and other ingredients the chain purchased last year represents a small

fraction—Chipotle won’t say how much—of the total. That’s because getting organic items consistently is hard. Recently, Zeavy’s operation was thrown into chaos when Costco Wholesale Corp. said it was out of organic vegan patties and wouldn’t be getting any in for a month. A few weeks later, Nic’s ran out of organic blueberry pie filling for yogurt parfaits, and managers couldn’t just run to the supermarket and pick some up. The chain sells about 50 vegan burgers a day, and the parfaits help bring in breakfast customers. “We were losing sleep,” Zeavy recalls. In both cases, Sysco Corp. came

to the rescue. North America’s largest food distributor is adding vegan burgers from the likes of Californiabased Don Lee Farms to its lineup and is now delivering Lucky Leaf fruit filling, as well. Sysco didn’t return a request for comment, but Don Lee Farms development chief Danny Goodman says many food-service companies play it safe by selling legacy brands: Kellogg Co.’s Morningstar Farms veggie burgers, for instance. “They’re the bottleneck,” Goodman says. “They need to start bringing in the new and different, but it’s a slow process.” The USDA also mandates annual organic inspections, which take about four hours and require lots of paperwork and labor. Inspectors from Quality Assurance International can show up anytime without advance notice. Every single ingredient must be organic; if even one isn’t, they can shut the joint down. Zeavy is undaunted. Before starting Nic’s, he had spent several years running charity raffles for the likes of Ronald McDonald House, raising some $100 million by offering a house and lesser prizes (no one ever won a house but winners have received cash). Zeavy who still runs the raffles, has various business including a commercial real-estate firm. He was looking for a tenant for a vacant restaurant he owned outside Chicago and decided to open an organic burger chain instead. Bloomberg News

population recorded declines in January

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HE country’s cattle and carabao population as of January 1 declined due to the reduction in the number of cows, caracows and yearlings, according to the Philippine Statistics Authority (PSA). In its annual reports published recently, the PSA said the total cattle inventory at the start of the year fell by 0.73 percent to 2.535 million heads from 2.553 million a year ago. “Stocks of cattle in backyard farms declined by 0.74 percent from 2.40 million heads in 2018 to 2.39 million heads in 2019,” the PSA said. “Likewise, cattle population in commercial farms diminished by 0.42 percent compared with the 2018 headcount of 150,720 heads,” it added. The PSA attributed the decline in cattle inventory to decreases observed in the population of cows, yearlings, others (castrated and ready to breed bull) by 1.52 percent, 9.93 percent and 10.28 percent, respectively. “These three age classifications had a combined share of 68.58 percent to the total cattle inventory,” it added. Cow population fell by 1.52 percent to 1.099 million heads, from 1.116 million, while inventory of yearlings declined by 10 percent to 409,762 heads from 454,947. The population of castrated and ready-to-breed bulls fell by 10.28 percent to 229,946 heads from 256,286. In a separate situation report, the PSA disclosed that the country’s total carabao inventory fell to 2.87 million from 2.88 million last year. The PSA said the population of carabaos in both backyard and commercial farms declined by 0.3 percent and 3.72 percent, respectively. Carabao held by backyard farms as of January 1 reached 2.863 million heads compared to the 2.871 million heads last year, while those in commercial farms declined to 10,351 heads from 10,751 heads. “The reduction in carabao inventory in 2019 was due to the decreases in the inventory of carabull, caracow and yearling at 2.21 percent, 0.20 percent and 0.04 percent, respectively,” the PSA said. “These three age classifications

had a combined share of 84.52 percent to the total carabao inventory,” it added. As of January 1, the PSA said the top 3 regions in terms of cattle inventory were Ilocos region, Central Visayas and Calabarzon. These regions contributed about 33.67 percent of the total cattle population in the country. In backyard farms, Ilocos region, Central Visayas and Calabarzon reported the highest cattle inventories. These regions accounted for 35.20 percent of the total cattle stocks in backyard farms. Cattle stocks in commercial farm were highest in Bicol region, Cagayan Valley and Central Luzon. These regions contributed 55.63 percent share of the total cattle population in commercial farms. For carabao, the PSA said the Bicol region had the highest inventory followed by Western Visayas and Central Luzon. The inventory of carabao in backyard farms were highest in Bicol region, Western Visayas and Central Luzon. These regions accounted for 29.38 percent of the total carabao inventory in backyard farms. Carabao stocks in commercial farms were highest in Cagayan Valley, Central Luzon and Eastern Visayas, according to the PSA. These three regions comprised more than half of the total carabao stocks in commercial farms. The PSA said the average farmgate price of cattle for slaughter rose by 8.03 percent to P107.56 per kilogram, from P99.56 per kg registered a year ago. The average farmgate price of carabao for slaughter went up by 9.55 percent to P95.13/kg, from the previous year’s level of P86.84/ kg. Jasper Emmanuel Y. Arcalas

A14 Thursday, April 4, 2019 • Editor: Angel R. Calso

Opinion BusinessMirror

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editorial

Duterte wants govt contracts aboveboard

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MONG the working papers published by the Institute for International Law and Justice, the one written by Kevin E. Davis (“Civil Remedies for Corruption in Government Contracting: Zero Tolerance versus Proportional Liability”) narrates an experience peculiar to Third World countries.

Davis wrote: “In March 1989 Nasir Ibrahim Ali, a Dubai businessman, was given an audience with His Excellency Daniel Arap Moi, the then-President of Kenya. Ali was seeking the President’s approval of a venture that would involve the establishment and operation of Duty Free complexes at the Nairobi and Mombasa International Airports. At Ali’s side was Rashid Sajjad, a Kenyan businessman. Sajjad was carrying a brown briefcase containing $500,000 in cash. The cash represented a portion of a sum of $2 million that Sajjad had recently received from Ali. As they entered the room to meet the President, Sajjad left the briefcase by the wall. After the meeting Ali retrieved the briefcase and saw that the cash had been replaced with fresh corn. The President approved the project, and on April 27, 1989, an agreement was signed.” Davis said things like this do not ordinarily come to light. It only became public after a dispute arose between Ali and the Kenyan government. According to Ali, the Kenyan government violated its agreement with his company, World Duty Free Co. Ltd., by essentially expropriating his interest in the company. As contemplated by the agreement between the parties, World Duty Free sought to have this dispute resolved by a panel of arbitrators convened under the auspices of the International Center for the Settlement of Investment Disputes. In the course of those proceedings Ali voluntarily provided the information about the circumstances under which his investment agreement came into being. He took the position that the payment to President Moi was “a gift of protocol or a personal donation made to the President to be used for public purposes within the framework of the Kenyan system of Harambee.” The lawyers for the Republic of Kenya argued that the payment was an illegal bribe. The ICSID panel agreed with Kenya. It dismissed World Duty Free’s claim on the ground that upholding a claim based on a contract obtained by bribery would be contrary to international public policy. Bribery in public contracting is a serious problem worldwide. The Philippines has also experienced entering into an anomalous contract that did not follow the Procurement Law. A case in point is the North Rail Project, which was aborted by the administration of former President Benigno Aquino III, although the government paid a steep price for cancelling the project. On Monday, President Duterte ordered the Office of the Solicitor General, the Department of Justice and all legal departments to review all contracts entered into by the government with other countries and all its agencies’ deals with private corporations. Presidential Spokesman Salvador Panelo said the review will determine whether there are “onerous provisions” in the contracts that would put the Philippines at a disadvantage or would violate the Constitution. Although the review of all contracts is a tedious process, we hope all deals will be subjected to scrutiny to give the President a chance to invalidate contract provisions that are onerous or contrary to public interest. Since 2005

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The calm before the storm John Mangun

OUTSIDE THE BOX

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S much as we talk about the benefits of tranquil and quiet times, in truth it is the periods of upheaval that are most productive. In fact, we look for and anticipate the chaos.

During the Korean War, the million-man Chinese army employed a particular tactic against the United Nations forces. First uttered by a leading character in the 1939 movie Drums Along the Mohawk was the line “It’s quiet. Too quiet.” A few moments later all hell broke loose as the battle started. The Chinese army would advance against UN line slowly and very quietly barely making a sound. Then within a few hundred meters, the soldiers would begin running, screaming and blowing whistles to rattle and hopefully scare the defenders. “Too quiet” is often if not usually the calm before the storm. The

same is true for the financial and asset markets. Prices that go sideways for a relatively long period means that the asset is either under accumulation before a move higher or distribution before a fall. Looking at the trading volume can give a clue as to whether you can anticipate an increase or a decrease in price. However, while that may be a sensible way to forecast the future price movement, there is an underlining concern that may be more important. The month of March for the Philippine stock market was a quiet time. The fact that the Philippine Composite Index increased by 2.8

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money is usually still buying at the top and selling at the bottom, late to the party on both sides. Therefore, we need to think about why local investors have been sitting on the sidelines for a month. The fact that the market was up in March is attributable to the fact that there was only “normal” and weak selling and a few buyers who were nibbling. Further, only six of the 30 PSEi issues accounted for that 2.8 percent increase. Did they wait a month for confirmation of lower inflation, the data to be released on Friday? Is it because of the election in about a month even though there does not appear to be any surprises coming? Are they holding back until economic growth numbers are reported at the end of April? Whatever the reasons, “It’s quiet. Too quiet.” To me it looks like something big is coming soon to the Philippine stock market. E-mail me at mangun@gmail.com. Visit my web site at www.mangunonmarkets.com. Follow me on Twitter @mangunonmarkets. PSE stockmarket information and technical analysis tools provided by the COL Financial Group Inc.

2019 ‘Cybersecurity Almanac: 100 Facts, Figures, Predictions And Statistics’

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percent is great. However, volume was low. Volume is the engine of the stock market. For the past 26 days since February 26th, on 20 days, the daily trading volume was lower than the average for the previous 60 days. Interestingly, there was foreign net buying on all but eight of those 26 days. On any trading day, there is “normal” selling completely unrelated to the stock price. Investors move from stocks to cash to buy a new car, pay medical bills, take a vacation and evade boredom as their stock does not move higher or lower. Buyers come in for only one reason; they believe the price will go higher. In this case—regardless that the market was up in March—we are like the UN forces. Was it quiet because the night breeze had died down and all the insects and normally scurrying animals were asleep or was the Chinese army advancing? While it is hard for most investors to believe, foreign money takes its cue from local investors. The logic is simple. Foreign money does not want to be left holding the bag if local investors decide to bail from the stock market. That is why foreign

Part Three

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HE modern definition of the word “hack” was first coined at MIT in April 1955. The first known mention of computer (phone) hacking occurred in a 1963 issue of The Tech. Over the past 50-plus years, the world’s attack surface has evolved from phone systems to so many digitally connected “things” that it’s outpacing effort to properly secure them.

The World Wide Web (WWW) was invented in 1989. The firstever web site went live in 1991. Today there are more than 1.9 billion web sites. The world’s digital content is expected to grow to 96 zettabytes by 2020, up from 4 billion terabytes (4 zettabytes) just three years ago. With this kind of exponential growth the opportunities for innovation­a nd for cyber crime­ are incalculable because data is the building block of the digitized economy. The far corners of the Deep Web—known as the Dark Web—is

intentionally hidden and used to conceal and promote heinous criminal activities. Some estimates put the size of the Deep Web (which is not indexed or accessible by search engines) at as much as 5,000 times larger than the surface web, and growing at a rate that defies quantification, according to one report. According to the latest Cisco Visual Networking Index (VNI), by 2022, more IP traffic will cross global networks than in all prior “Internet years.” In other words, more traffic will be created in 2022 than in the 32 years since the Internet started. However, in-

creased connectivity brings with it increased security challenges. Driven by the rapid increase in the use of cloud apps, cloud data center traffic will represent 95 percent of total data center traffic by 2021, according to Cisco. The growth of Internet of Things (IoT) applications, such as smart cars, smart cities and connected health devices, will also expand data center demands. Cybersecurity Ventures predicts that the total amount of data stored in the cloud—which includes public clouds operated by vendors and social media companies (think AWS, Twitter, Facebook, etc.), government-owned clouds that are accessible to citizens and businesses, and private clouds owned by midto-large-sized corporations—will be 100 times greater in 2022 than it is today. Despite promises from biometrics and facial recognition developers of a future with no more passwords—which may, in fact, come to pass at one point in the far-out future—one report finds that the world will need to cyber protect 300 billion passwords globally by 2020. The global smartphone total is set to grow 50 percent in the next four years to 6 billion devices, up from 4 billion in 2016. Infections

for both Android and iPhones continue to increase as they are now the largest threat vector on the planet for technology. And 2019 will see this trend continue. Research from Cisco and Cybersecurity Ventures indicates that smartphones will account for more than 55 percent of total IP traffic by 2025, and Wi-Fi and mobile devices will account for nearly 80 percent of traffic IP by that time—with BYOD (bring your own device) and mobile apps posing a major security threat to enterprises over the next six years. The number of connected devices on the Internet will exceed 50 billion by 2020, according to Cisco. To put it another way, the number of IoT devices will be three times as high as the global population by 2021. And by 2022, 1 trillion networked sensors will be embedded in the world around us, with up to 45 trillion in 20 years.

Human attack surface

LIKE street crime, which historically grew in relation to population growth, we are witnessing a similar evolution of cybercrime. It’s not just about more sophisticated weaponry; it’s as much about the growing number of human targets. To be continued

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Massive land reclamation New life in God’s mercy requires massive public consultations Msgr. Sabino A. Vengco Jr.

ALÁLAONG BAGÁ

Dr. Rene E. Ofreneo

LABOREM EXERCENS Continued from A1

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HIS massive reclamation program, if it pushes through, will have dire environmental and socioeconomic impact on the country.

First, the environmental arguments raised by the scientists against these reclamation projects such as land subsidence and liquefaction have not received any satisfactory answers from the proponents of reclamation. The reclamation projects put Metro Manila and neighboring provinces in a precarious situation. Reclamation deepens the vulnerability of the metropolis, which has been sinking, to risks such as sea surges, tsunamis, sea rise and city-wide flooding associated with the global-warming phenomenon. The metropolis also faces a life-threatening catastrophe should a major earthquake hit Metro Manila because the “cemented” land mass built on fragile foundations and the “cemented” bridges connecting the old and new lands are simply no match to the shaking of the Earth’s ground. Furthermore, reclamation, especially a massive one as contemplated by the Philippine Reclamation Authority (PRA) and corporate proponents, subverts the biodiversity and the rich marine life within and along the Manila Bay area. The livelihoods of thousands of families dependent on fishing are directly affected. The historic Manila Bay sunrise, sunset and horizon are fated to become history, captured in photographs and paintings of a bygone era. Also, where will the reclamation developers get the materials to fill up or empty the sea? The 38,000 hectares of reclaimed sea space means an equivalent 38,000 hectares of rock, sand, gravel and other materials dug up or extracted from the country’s already fragile hilly and mountainous areas. In short, reclamation, as massive as the one outlined by the PRA, threatens the forest lands and the watersheds of the country’s hinterlands. Hills and mountains shall be disemboweled. Like the urban poor and fisherfolks in the targeted coastal areas, the forest dwellers and the indigenous peoples in the targeted sources of materials shall be affected. The point is that the adverse environmental impact of reclamation spans the whole value chain of a country’s watershed, from the forest ridges above all the way down to the coastal reefs below. The projected job gains in the reclamation projects cannot compensate for the job losses in the fishery sector, the adverse environmental impact of the reclamation processes in the reclaimed areas and in the areas where the materials are sourced, and the geological and other environmental hazards that the land-reclamation program is spawning. Unbridled reclamation also deepens social and economic inequality in the country. The local government units (LGUs) will not finance and undertake the reclamation projects. They are done by the big corporations, which are able to hoard and commercialize the reclaimed land, converting them into casinos, condominiums, malls, entertainment complexes and other business projects catering to the well-heeled and middle-class Filipinos. The urban poor and fisherfolk families affected by the reclamation projects are simply “relocated,” usually in parts unknown or in areas still to be determined at later stages of any reclamation project. Their livelihoods and their hous-

ing and community needs are not on top of any reclamation -development agenda. The whole process clearly smacks of grave social and economic injustice. Meantime, host LGUs become indebted and dependent on the big corporate reclamation proponents. Corporate real-estate development projects become the cornerstone of LGU development programming. A people-centered and communitybased in situ economic development programming, as envisioned by the Constitution and the Local Autonomy Code, is either ignored or set aside. The responsibility of the LGUs to address the more urgent challenges of urban renewal and inner-city redevelopment, including coastal community development, is somehow forgotten, as the peso earnings from corporate-sponsored reclamation are projected as the LGUs’ major accomplishments. Cities are being built around the commodified reclaimed real-estate lands, not on the welfare needs of the ordinary citizens, especially of the urban poor. Incidentally, in most countries of the world, the planning, implementation, control and decisions on the uses of a reclaimed land are in the hands of the government. After all, the seas from which the lands are reclaimed are part of the public domain, part of what sociologists call as the “commons.” In short, the seas and the reclaimed lands are part of the commons. Hence, any reclamation should entail intensive consultation with the citizenry and the communities lying on the path of reclamation. Massive reclamation requires massive public consultation! Are there job-rich development alternatives for the LGUs? There are, but city executives and planners have to adjust their development lenses. Manila Bay, for example, can be transformed into a major eco-educational-tourism project that can attract millions once the Bay is fully cleaned up, dredged and rehabilitated. The transformation of Corregidor, the site of bloody World War II fighting, is an example of what an eco-educational-tourism project, planned in concert with academe, can become. The coastal fishing communities along the Bay can also be transformed into modern and sustainable communities if the communities are treated as partners in building up fishery-related industries, cooperative social enterprises and a whole slew of community redevelopment programs. The question that should be raised to the LGUs and their city planners: Para saan ba ang mga reclamation projects: sa tao o sa ilan lang malalaking korporasyon? The proposal of Rep. Rose Marie Arenas for a total ban on any further reclamation project in the whole Manila Bay area is very much welcome. There should be a rigorous, transparent and massive government-citizen consultation on all the proposed reclamation projects in Luzon, the Visayas and Mindanao. The full ecological rehabilitation and restoration of the natural beauty of Manila Bay should be the primary task of the LGUs and concerned government agencies, not its devastation and desecration. Contact: Rene E. Ofreneo, President, FDC reneofreneo@gmail.com

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OR the Fifth Sunday of Lent, we turn to Saint John (8:1-11) who provides us with the incomparable story of the woman accused of, and about to be stoned for, adultery. God’s compassionate presence in our midst through Jesus Christ means completely new possibilities and options, both to anyone accused and to everybody else.

The accusers

ACCORDING to the evangelist, Jesus had been holding teach-ins within the temple precincts during the day, while staying at night on the Mount of Olives. His growing popularity measured by the crowds gathering to hear Him must have annoyed the Pharisees and scribes. They were regarded more or less as the competent teachers of the people, and now this upstart from Nazareth was upstaging them. The scribes were the legal experts or the lawyers, and the Pharisees were the exemplars in virtuous living faithful to every prescription of the law. These two groups were both respected and feared by the public.

It was rather irregular to drag a woman accused of adultery before Jesus. That would ordinarily be handled by the Sanhedrin, and inasmuch as capital punishment was involved, it was a case ultimately for the Roman authorities. But the evangelist said outright that the purpose of the whole confrontation was not judicial at all; the scribes and Pharisees wanted to trap Jesus into committing some legal faux pas or mistake that could be elevated to a formal case against him.

The accused and the judge

ADULTERY then was usually the sin of an unfaithful wife; an unfaithful husband could not be charged with

Thursday, April 4, 2019 A15

adultery. The woman must have been married and was seen sinning by at least two men (since only men were recognized as official or competent witnesses). The appearance of a formal interrogation was maintained by having the woman stand in full view of everyone. There are obvious parallels between this case and the story of Susanna (Daniel 8), though here the woman accused was apparently guilty. This woman caught in sin probably was not expecting much by way of exoneration. But she must have been terrified by the rabid fury of her frenzied accusers thirsting for her blood. All the more striking was the serene behavior of Jesus, teaching the crowd in the temple area and suddenly confronted with the cowering accused and the howling accusers pressing Him for a decision/opinion on the charge of adultery. Without saying a word, He listened to all the accusers have to present, then He bent down and started writing on the ground with His finger, a gesture clearly intended to say something. Did He make a list of the sins of the accusers, or was He indicating that a divine commentary to the case was due, similar to the mysterious writing on the wall in Daniel (5:24), because the writing and the wrist and the hand that wrote it came

from God? Or was Jesus dramatizing Jeremiah (17:13): “Those who turn away from you shall be written on the earth, for they have forsaken the Lord, the fountain of living water.” It could also be that Jesus was just showing lack of interest on the self-righteousness of the Pharisees and scribes. Alálaong bagá, when He finally spoke, the words of Jesus would galvanize the whole proceeding into a triumph of grace: The one without sin was to cast the first stone against the woman. The presumed definitiveness of the argument against the accused frizzled out; the accusers exited from the scene shamed. One on one with the woman, Jesus showed Himself more than just a judge as the accusers would have wanted Him to be. He was her savior beyond her expectation. He did not ignore her sin but went beyond it. He pardoned her, and sent her off on her way to a new life in the grace of God’s mercy. As the sacrament of divine mercy, Jesus was a compassionate and wise judge committed to forgive and rehabilitate, not merely to condemn and to punish. Join me in meditating on the Word of God every Sunday, from 5 to 6 a.m. on DWIZ 882, or by audio streaming on www.dwiz882.com.

Thai impasse may send a wave of baht across Asia

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By Andy Mukherjee | Bloomberg Opinion

ORE than a week after Thailand’s first election in eight years, there’s still little clarity about the nation’s political future. The more frustrating that stalemate becomes, the bigger the incentive for Bangkok businesses to venture overseas. The March 24 polls, it seems, have solved nothing. If holding elections under a new constitution (Thailand is on its 20th since the end of absolute monarchy in 1932) was supposed to lift politics from the streets and bring it into parliament, then any resumption of violence would spark a search for fresh solutions. All over again. As long as the village vote supports deposed former Prime Minister Thaksin Shinawatra—and the Bangkok elite continues to find his populism intolerable—future attempts to steady democracy will also fail. The unambiguous message to entrepreneurs is that they should keep investing abroad. Since 2001, Thai firms have led or taken part in $78 billion of overseas M&A, including 17 large deals of $1 billion or more. The big push got underway as democracy started flickering in the country, before getting snuffed out by the 2014 coup. Private investment in the domestic economy waned with slowing global demand.

In December 2012, when the now 79-year-old Thai billionaire Dhanin Chearavanont made a $9.4-billion play for a large stake in Ping An Insurance (Group) Co., Thaksin’s sister Yingluck Shinawatra had just survived a no-confidence vote over a costly subsidy to rice growers. She would hang on to power for another year and half, even as her government became increasingly ineffectual. After her ouster, Dhanin’s Charoen Pokphand Group Co., together with Japanese trading house Itochu Corp., picked up a stake in Beijingcontrolled investment corporation Citic Ltd. for $10.4 billion. The other billionaire to make a move in 2012 was Charoen Sirivadhanabhakdi, who got Singapore’s Oversea-Chinese Banking Corp. to offload its stake in Fraser & Neave Ltd. to his flagship Thai Beverage Pcl. That opening led to an $11-billion takeover of F&N’s property and drinks empire. In 2016, Dhanin acquired a US frozen-food producer while

When political institutions fail to act as pressure valves, capital wants to escape before it gets trapped. In Thailand’s case, an added attraction is what Nirgunan Tiruchelvam, head of consumer-sector equity research at Exotix Partners LLP in Dubai, describes as “first-world cost of capital in a third-world country.” Charoen lost the battle for hypermarket chain Big C Vietnam to the Central Group, controlled by the prominent Thai retailer and hotelier Suthikiati Chirathivat. The Thai tycoons’ bid to globalize is in a league of its own. While China has spent $1.1 trillion overseas since early 2001, foreigners have also bought $418 billion worth of Chinese businesses. That gives the People’s Republic an outbound-to-inbound investment ratio of 2.6. Relentless shopping by Singapore’s sovereign wealth fund GIC Pte. and state investment firm Temasek Holdings Pte., have accorded the city-state an even higher measure of 3.1. In developing Asian countries where labor is young and cheap and local opportuni-

ties lucrative, the ratio is markedly lower: 0.3 in Indonesia; 0.6 in the Philippines; and 0.7 in India. Su r pr i s i n g l y, T h a i l a nd i s closer to Singapore and China than to India or the Philippines. Its per-capita income is a fifth of South Korea’s, 73 percent less than Taiwan’s, and a third lower than Malaysia’s, but its outbound-toinbound investment ratio of 1.9 is higher than all three. W hen political institutions fail to act as pressure valves, capital wants to escape before it gets trapped. In Thailand’s case, an added attraction is what Nirgunan Tiruchelvam, head of consumersector equity research at Exotix Partners LLP in Dubai, describes as “first-world cost of capital in a third-world country.” Thai Beverage, rated one level above junk by Moody’s Investors Service Inc., recently raised the baht equivalent of $317 million for 10 years at a yield of 4 percent. American issuers of similar creditworthiness have on average paid 4.6 percent this year for borrowing in dollars, according to Bloomberg data. With capital so cheap, the longer the political confusion lingers, the more ardently Thai tycoons will venture abroad. Assets in the neighborhood hold the most appeal. It’s Asia’s chance to bathe in baht.

Resurgent India bulls look to RBI to keep market rally going

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By Kartik Goyal | Bloomberg Opinion

NDIAN markets have staged an eye-catching comeback in March after taking a drubbing in the first two months of the year, and bulls are salivating at the prospect of more gains.

Foreign investors who shunned rupee bonds and stocks in the wake of border skirmishes with Pakistan have returned as tensions eased, with inflows eclipsing those for closely watched emerging-market rival Indonesia. Buyers are also emboldened by speculation that the central bank will add to its surprise February rate cut this week and for Prime Minister Narendra Modi’s government to win a second term. The RBI will lower the benchmark repurchase rate by 25 basis points to 6 percent on April 4, according to the median estimate in a Bloomberg News survey. The central bank’s dovish turn in February—when it changed its policy stance to neutral from “calibrated

tightening”—spurred the rally in bonds, with investors benefiting from India’s relatively high yields. The RBI’s open-market debt purchases added to the gains.

Back and how

“THE long-term case for India is appealing,” said Bryan Carter, London-based head of emergingmarkets debt at BNP Paribas Asset Management Ltd. “India has already fired the first easing shot, so expectation is naturally for more.” The y ield on India’s mosttraded sovereign debt due January 2028 has fallen from this year’s high of 7.67 percent in February to 7.48 percent on Friday. That on notes maturing in April 2020 slipped 15 basis points in

“The long-term case for India is appealing,” said Bryan Carter, London-based head of emerging-markets debt at BNP Paribas Asset Management Ltd. “India has already fired the first easing shot, so expectation is naturally for more.”

March to 6.42 percent. Rupee government and corporate debt lured $2.4 billion last month through March 27, versus $1.4 billion for Indonesia. Indian stocks took in $4.3 billion during the period, contributing to making the equity-sensitive rupee the region’s best performer over the past month. “India benefited because of the shift in RBI’s stance and OMO bond purchases, as well as the rupee’s strength,” said Patrick Wacker, fund manager for emerging-markets fixed income

at UOB Asset Management Ltd. in Singapore.

Election bets

MODI’S strong response to the border situation with Pakistan appears to have boosted his popularity. At least four opinion polls conducted in March showed the current ruling coalition led by the Bharatiya Janata Party can either cross or get close to a majority in the 543-seat Indian lower house. Voting will take place in seven phases between April 11 and May 19. Official results will be out on May 23. “Capital inflows into India have been driven by higher odds that Modi and BJP will be able to form a government, secure a second term after the elections,” said Roland Mieth, emerging-markets portfolio manager at Pacific Investment Management Co. in Singapore. Indian bonds will continue to attract inflows due to a more dovish Federal Reserve and with the RBI looking to ease policy, he said.

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‘Jobs outlook for new grads dim as manufacturing ails’

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By Samuel P. Medenilla

@sam_medenilla

MILITANT labor group on Wednesday issued a bleak employment outlook for new graduates this year as the manufacturing sector continues to shrink from a supposed lack of a coherent government industrial policy. Citing the IHS Markit survey results, Bukluran ng Manggagawang Pilipino (BMP) Chairman L eody de Gu zman e x pressed alarm over the decline in the P u rc h a s i n g M a n a ge r s I nde x (PMI)—a measure for manufacturing performance—from 51.9 in February to 51.5 in March, which may translate to fewer job opportunities for jobseekers. This was also supported by Philippine Statistics Authority (PSA)

data in the fourth quarter last year, which showed manufacturing growth in 2018 decelerate to 3.2 percent compared to 7.9 percent in the same quarter in 2017. BMP noted the trend continued despite the massive infrastructure undertaking of the government through its “Build, Build, Build” program, which should have perked up demand in the manufacturing sector. De Guzman said the trend will

persist unless the policy restrictions on the Department of Trade and Industry (DTI) and the government-owned and -controlled corporations under the GOCC Governance Act are removed. The labor leader suggested that President Duterte gave DTI the mandate to “promote and regulate industry via import substitution strategies and direct subsidies to industrial champions.” In the case of the GOCCs, de Guzman urged Duterte to make them “pace-setters in innovative industries such as pharmaceuticals, high-tech agriculture and artificial intelligence.” “If we won’t remove the straitjacket on the DTI and government corporations, then all we can promote are small-scale businesses, and we will be forever relegated to a small-economy status,” de Guzman said. De Guzman said boosting the manufacturing sector will not only benefit business owners but also

U.S. JUSTICE DEPT UNIT GIVES S.C., C.A. JUSTICES CYBERCRIME TRAINING

“If we won’t remove the straitjacket on the DTI and government corporations, then all we can promote are smallscale businesses, and we will be forever relegated to a small-economy status.”—de Guzman

their workers. Manufacturing is one of the subsectors where workers by and large enjoy decent benefits. BMP stressed the importance of a national industrialization policy in generating jobs for new graduates and invigorating the local economy. Based on PSA’s latest Labor Force Survey in January, over 3.6 million of the 41 employed persons for that period belong to the said subsector. It joined the constr uction subsector as the top 2 subsectors with the most workers in the industrial sector for that period.

SEATED (from left): Supreme Court Associate Justices Rosemari Carandang, Andres Reyes Jr., Estela Perlas-Bernabe, Antonio Carpio, Chief Justice Lucas Bersamin, and Associate Justices Mariano del Castillo, Marvic Leonen, Alexander Gesmundo and Amy LazaroJavier. Standing (from left): Court Administrator Midas Marquez, Technical Advisor Felix Camerino of the US DOJ’s Office of Overseas Prosecutorial Development, Assistance and Training (Opdat); Senior Digital Investigative Analyst Daniel Ogden of the US DOJ Computer Crime and Intellectual Property Section (CCIPS); Cybercrime Lab Director Ovie Carroll; Opdat Resident Legal Advisor David Bragdon; and Opdat Legal Specialist Guia Montealto.

Japanese investments on second wind in Subic N By Henry Empeño

Correspondent

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UBIC BAY FREEPORT—The entry of another manufacturer at the Japanese-owned Subic Techno Park (STP) here has marked a resurgence of Japanese investments in the Subic Bay Freeport, which already hosts several high-end operations in manufacturing, industrial services, and information and communications technology. Subic Bay Metropolitan Authority (SBMA) Chairman and Administrator Wilma T. Eisma said Japanese steel company Taiyo Subic Philippines Corporation has committed P392.5 million in investments to produce gear parts for industrial robots and specialty steel products for other companies here and abroad. The firm, a subsidiary of Japanese integrated special steel trading firm Taiyo Shoji Co. Ltd., was established here in February and has leased a 6,200-square-meter facility for its operations. Eisma said that this January, Nidec Shimpo, a sister company of Nidec Subic, another Japanese company at the STP that produces spindle motors for hard-disk drives, started operations for an entirely new product line for super-silent speed reducers. This was followed in March by the opening of a research and productdevelopment facility also at STP by Japanese technology firm Sanyo Denki Philippines Inc., which already operates three factories here to produce uninterrupted power system (UPS), cooling fans, servo amplifiers and stepping motors. The entry of Taiyo, Eisma noted,

Creative. . .

Continued from A1

Responding to Rodolfo, CECP President Paolo A. Mercado identified advertising, film, animation, game development and design, particularly graphic and digital designs, as the priorities in need of specific action plans. Under the draft road map, the Philippines is envisioned to become the leading creative economy among Association of Southeast Asian Nations (Asean) member-states by 2030. The road map covers six cultural domains, namely, cultural and natural heritage; performance and celebration; visual arts and artisan products; books and press; broadcast and interactive media; and creative services. “By 2030 the Philippines will be the number one creative economy in Asean in terms of size and value of our creative

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SBMA Senior Deputy Administrator for Business and Investment Renato W. Lee III presents the certificate of registration and tax exemption for Taiyo Subic to Taiyo Shoji President Shinichi Kita in the presence of SBMA Business and Investment for Manufacturing and Maritime Department Head Karen G. Magno. “only goes to show the continuing confidence among Japanese investorcompanies in Subic.” According to its business plan, Taiyo will engage in the business of importation and exportation of special steel materials, and manufacturing of parts for use in the automobile industry, industrial machineries, plant machineries and information technology. With its P392.5-million fund, it plans to devote P142.5 million for the construction of its own

factory at the STP, import materials from Taiyo Japan and specialty steel manufacturer Daido Steel Co. of Japan, refine these materials, and thereafter supply precision materials and gear parts to other companies. The firm specifically targets Subic Nidec, which it plans to supply with 100,000 units of speed reducers per month by March 2020. The Japanese-controlled Subic Techno Park is now home to hightechnology Japanese manufactur-

ers like Nidec and Sanyo Denki, ATM manufacturer Hitachi Terminals Mechatronics, industrial services and equipment provider Juken Sangyo, and ultrasonic transducers and sensors maker Nicera Philippines. Japanese Ambassador to the Philippines Koji Haneda said during the Nidec Shimpo inauguration last month that the new Japanese investments indicate “the continuing Japanese investor confidence in the Philippines’s business potential.”

industries, as well as the competitiveness and attractiveness of our creative talent and content in international markets,” the draft road map read. The Philippines exported $915.45 million worth of creative goods in 2014, according to data from the United Nations Conference on Trade and Development. Unctad figures indicated this was nearly 18 percent higher than the $775.83 million shipped by the Philippines in 2005. “Design goods accounted for the largest share of exports, with fashion goods at $279 million, interior design at $221 million and toys and jewelry combined at $116 million for 2014,”the Unctad said in a report, titled “Creative Economy Outlook: Trends in International Trade in Creative Industries.” In 2014 the United States was the top destination for Philippine creative goods exports with $472.56 million, followed by

Japan with $136.03 million, China with $38.45 million, Italy with $30.73 million and Germany with $22.56 million. Manila accumulated a trade deficit of $245.79 million with Beijing, while maintaining a trade surplus with Washington, Tokyo, Rome and Berlin, according to the Unctad report. To strengthen its trade sheet, CECP put forward in the road map the issuance of an executive order declaring the creative economy as a national priority, as well as the passage of a measure establishing an agency tasked to handle creative industries. Further, CECP recommended mapping priority creative industries for accelerated growth in domestic and international markets; providing incentives for developers of creative hubs and clusters as places for incubation, production, education, and research and development; and pushing for creative cities development and recognition. The group also insisted on promoting new models

of creative tourism aimed at enhancing the country’s global image. According to the DTI, the road map is seen to develop the country’s creative industries, particularly its high-value services that provide significant contribution to the GDP, such as in tourism, information technology and business-process management, among others. The DTI views the creative economy road map as crucial to the country’s transition to digitization. The creative economy, the agency added, is an important source of trade and investment opportunities, which bolsters the business activities of micro, small and medium enterprises. In a step toward the approval of the road map, a technical working group will be formed to include the Departments of Tourism, of Education, Commission on Higher Education and the Technical Education and Skills Development Authority (Tesda).

INE Supreme Court justices and more than 30 Court of Appeals ju st ices recent ly received training on cybercrime from US experts. The United States Embassy in the Philippines, through the US Department of Justice Office of Overseas Prosecutorial Development, Assistance and Training (Opdat), coordinated w ith the Supreme Court Subcommittee on Commercial Courts (SCC) for the training. The Supreme Court is in the process of implementing the new Rule on Cybercrime Warrants (RCW), which facilitates the detection, investigation and prosecution of cybercrime offenses. This training supported the implementation of the RCW and addressed new issues posed by emerging computer-facilitated crimes, including digital security and privacy risks. This is part of an Opdat partnership with the Philippines to build government capacity to effectively fight cyber-enabled crimes. At the training, Ovie Carroll, US DOJ Computer Crime a nd Inte l lec t u a l P roper t y Section (CCIPS) Cybercrime L abor ator y D i re c tor ; a nd Daniel Ogden, CCIPS Senior Digital Investigative Analyst, discussed the nuances and evidentiary value of computer data in comparison to traditional evidence, as well as the

security risks and benefits inherent in digital devices. They also shared techniques for gathering, preserving and analyzing digital evidence. Their presentation provided the justices with practical insights to help them apply and enhance the RCW. Chief Justice Lucas Bersamin explained, “The speed of technological development creates blind spots in matters of personal security and privacy. The briefing on digital security was truly informative and invaluable for us in the Judiciary.” Court of Appeals Presiding Judge Ramon Barza, who attended the session for appellate justices, said, “The talk gave a refreshing view on the impact of cyber technology on gathering evidence and building up cases, especially for the prosecution.” The US Embassy, through Opdat, is working with Philippine partners to enhance ju st ice - sec tor c apabi l it ies v i a t r a i n i n g s f or j u d ge s , prose c utors, l aw - e n force ment officials and government agencies on combating transnationa l cr imes. Op dat also helped develop instructional videos and a new cybercrime course for criminology schools nationwide. Opdat will conduct cybercrime training for Northern Luzon judges on April 4 and 5 in Baguio City.

Treasury gets ₧4-billion dividend from BSP after New Central Bank Act Continued from A1

amount ever collected since the law requiring state firms to hand over 50 percent of their annual net earnings to the national government was enacted in 1994. The dividends totaling P40.18 billion remitted by GOCCs in 2018 represent a 32-percent jump from the P30.46 billion collected in 2017. Among the top dividend contributors in 2018 was the BSP, which remitted P3.637 billion to the Treasury. Other GOCCs which remitted dividends in 2018 are: the Philippine Deposit Insurance Corp. (PDIC) with P8.844 billion; the

Civil Aviation Authority of the Philippines (Caap) with P6.224 bi l lion; Phi lippine Por ts Authority (PPA) with P3.103 bill ion ; Ph i l ippi ne A mu sement and Gaming Corp. (Pagcor) with P2.593 billion; Philippine Charity Sweepstakes Office (PCSO) with P2.535 billion; Manila International Airport Authority (Miaa) with P2.251 billion; and the National Power Corp. (NPC) with P1.410 billion. GOCCs are required to declare and remit at least half of their income as dividends to the national government, under RA 7656 or the GOCC Dividend Law.

Editor: Efleda P. Campos

Companies BusinessMirror

Thursday, April 4, 2019

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JV targets ₧10-B Angat Water Supply Optimization Project

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By Jonathan L. Mayuga

@jonlmayuga

JOINT venture of ITP Construction and Maharlika Bulk Water Co. is targeting the supply of raw water for Metro Manila through an unsolicited proposal under the build-operate-transfer (BOT) scheme. Orville M. Roque, president of the ITP-Maharlika Bulk Water Co. joint venture, said they intend to submit the unsolicited proposal to the Metropolitan Waterworks and Sewerage System (MWSS) by the end of the month. The joint venture plans to submit its proposal on the heels of a watersupply shortage affecting the East Zone concession, which severely affected 1.2 million water consumers in more than 60 barangays. The water concessionaire for the East Zone, Manila Water Co. Inc. was compelled to implement a one-time bill waiver program for affected consumers to make up for the inconvenience brought about by the severe water-service interruption.

The Angat Water Supply Optimization Project which will cost P10 billion is expected to harness excess water from the allocation for the hydropower plant being supplied by Angat Dam. It is expected to produce 800 million liters per day (MLD). At a press conference in Quezon City, Roque, who is also the director of the EDF Management Consultancy Inc., said the project, which is divided into two segments, will ensure raw water-supply allocation for Metro Manila in the long term. The first segment—being targeted for competition—will supply raw water between 250 MLD and 300 MLD. If approved, the first segment of the project can be completed by June 2022, before President

Duterte finishes his term. The second segment of the project will provide additional raw water supply of up to 500 MLD to 550 MLD. It will be up to the MWSS and its concessionaires Maynilad Water Services Inc. or Manila Water which company will avail itself of the additional water. Any excess from it, he said, can also go to Bulacan Bulk Water, another concessionaire of MWSS for the Bulacan area. Roque said harnessing the potential of the Angat watershed to provide raw water supply is enormous. “Of about 1,200 MLD, only 600 MLD is currently being utilized. What we want to do is build a weir dam to conserve the water wasted during the rainy season,” he said. The proposal was initially presented to the MWSS board of directors by Roque, who was part of a World Bank-commissioned study on water investment in 2013 through the National Economic and Development Authority and the Department of Public Works and Highways. Interviewed by the BusinessMirror, MWSS Administrator Reynaldo V. Velasco said the project was an idea born out of the need to optimize water wasted in Angat. “It was our idea. We told them to come up with a study. We told

them the problem and asked them to come up with a proposal,” he said. The project is part of the shortterm and medium-term solution to the looming water crisis of the MWSS which recently presented its revised water supply and water security road map to Duterte. A glimpse of the interim report to be submitted by the joint venture in support of its proposal titled “Comprehensive Services for the Conduct of Comprehensive Feasibility Studies and Preliminary Engineering Studies for Norzagaray Angat Water Supply Optimization Project” indicates the joint venture aims to address water supply shortage forecasted to occur starting in 2021. This is before the target completion of several watersupply projects being eyed by the Duterte administration, including the P12.2-billion, 600 MLD New Centennial Water Source—Kaliwa Dam Project, and other projects that will draw water from Laguna Lake, Wawa Dam and Kanan Dam projects. In the past during typhoons and floods, water released from Angat Dam would usually cause flooding in the low-lying areas of Bulacan, particularly along the Norzagaray and Bustos Rivers. Roque said: “If we build dams to harness all this water, we can provide more water for MWSS, and prevent flooding in these areas.”

‘Reader’s Digest’ fetes ‘most trusted’ brands in PHL

Ascent eyes on-demand chopper service nationwide

HIRTY-TWO companies from various industries continue to gain the confidence and trust of the domestic market for possessing attributes consumers look for—value for money, quality, good reputation and social conscience. The winning firms from 50 consumer categories were recognized based on results of an independent survey conducted by Catalyst Research and commissioned by family magazine Reader’s Digest. Up to 8,000 individuals were randomly selected across Asia, of which 1,500 respondents came from the Philippines. They judged the recipients of the 21st Reader’s Digest Asia Most Trusted Brand awards on their trustworthiness, quality, value, understanding of customer needs, innovation and social responsibility. Reader’s Digest Group Editor Louise Waterson said the awardees divided into three major divisions—Gold, Platinum and Asia—came from various industries, including consumer electronics, food and beverage, services, finance, household products, personal products, health and personal care, telecommunications, and motoring. “They are products that an ordinary person has to encounter in their everyday life,” she told reporters prior to the awarding ceremony held at the Marco Polo Ortigas in Pasig City on Tuesday. The editor of the publication’s editions in Australia, New Zealand and Asia describe trust as being a “currency” for a company in this digital era where fake news arises. “Being trusted means that your brand is resilient to change, and it’s resilient to economical change within the market as well,” she added. Gold Trusted Brand Awards were given to “outstanding” companies that scored higher than their rivals in the same category. These included Acer for personal computer (PC); Asian Eye Institute, eye center; Baguio Oil, cooking oil; Banco De Oro (BDO), bank; BDO, personal/ consumer loan; Citi, credit-card issuing bank; Citi, personal/consumer loan; Condura, airconditioner; Condura, refrigerator; Goldilocks, bakery/pastry shop; Healthway, ambulatory/ multispecialty clinic; Hi-Precision, ambulatory/multispecialty clinic; Ideal Vision, optical shop/store; Manulife, life insurance; Orocan, plasticwares; Panda, pen; and Sharp, washing machine. Roderick L. Abad

FTER launching its maiden service in Metro Manila on Wednesday, Ascent, an on-demand helicopter service, aims to open similar services in the Visayas and Mindanao sometime this year to jump-start its planned global expansion. The service essentially allows the users to book for helicopter rides—either point to point or personalized—around Metro Manila’s central business districts (CBDs), Clark and Tagaytay. The helicopter services will be operated by pioneer air operator Inaec Aviation Corp. “We are already flying in Manila, Clark and Tagaytay. We hope to do that this year in the Visayas and

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By Lorenz S. Marasigan @lorenzmarasigan

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Mindanao. We are also planning to extend to Southeast Asia—first in Thailand, Indonesia and Malaysia. Then after that, we’re going East Asia and then to other continents,” Ascent CEO Lionel Sinai-Sinelnikoff said on Wednesday. He noted the newly introduced service will help in the government’s efforts of providing alternative modes of transport to Filipinos. The service, however, is quite pricey compared to traditional means of transportation that a common person takes. “Despite being one of the fastest-growing business hubs in Southeast Asia, Manila’s traffic situation is also one of the most challenging in the region. With the launch of Ascent in the Philippines, we hope to provide a solution that

is highly relevant to the current times’ economic and productivity pitfalls caused by congested roads,” Sinai-Sinelnikoff said. He said the CBDs in Metro Manila have an untapped transportation opportunity. “There is a good number of helipads and helicopters with low utilization. Through the Ascent platform, we aim to connect CBDs more easily and promote the country as an ideal destination to conduct business helped by urban air mobility,” he said. Ascent also offers services such as luggage transport, on-ground guest assistance, airport transfers via helicopter, shuttle services to dedicated heliports and corporate packages. It also offers dedicated enterprise solutions.

Cemex PHL to raise $250M in fresh capital By VG Cabuag @villygc

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EXICAN cement manufacturer Cemex Holdings Philippines Inc. on Wednesday said it is increasing its authorized capital stock in move to raise some $250 million in fresh capital. In its disclosure, the company said it is raising its authorized capital stock to P18.31 billion divided into 18.31 billion common shares from the current P5.19 billion divided into 5.19 billion common shares. “The rationale for the amendment is for the ability to raise equity capital including but not limited to, a rights offering the corporation may undertake, subject to the final decision and approval of the board of directors. The corporation is potentially looking to raise up to $250 million which would allow it to improve its capital structure, fully fund the ongoing Solid Cement plant expansion and provide balance sheet flexibility,” it said.

“Following this capital-raising exercise, any unissued shares will be kept in the form of authorized, but unissued share capital. The corporation currently has no plans for any further fund-raising,” it said. For 2018, the company incurred a loss of P930 million from the previous year’s income of P658.83 million due to higher income-tax expenses recorded in the second quarter, lower operating earnings and higher foreign-exchange losses. “Our domestic cement volumes were flat year-over-year during the fourth quarter as volume performance was affected by production constraints caused by the landslide in Naga, Cebu, near our APO Cement Plant,” the company said. Industry demand remained robust from both the private and public sectors. Its absolute domestic cement volumes were an all-time high in 2018, as volumes grew 7 percent yearover-year aided by debottle-necking initiatives to increase production and supply-chain throughput by half a million tons.

DOE creates task force to assess WESM performance By Lenie Lectura @llectura

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HE Department of Energy (DOE) has created a task force to assess the performance of the Wholesale Electricity Spot Market (WESM) under the governance of an independent market operator (IMO). DOE Circular 03-0009 designated DOE Assistant Secretary Leonido Pulido III as chairman of the task force. The members are DOE Assistant Secretary Redentor Delola and Director Patrick Aquino. “The DOE deems it is necessary to assess the performance of the WESM under the current regime to ensure transparency, competitiveness, protection of public interest and integrity of the WESM,” the DOE said. The Philippine Electricity Market board used to operate the electricity spot market until Independent Electricity Market Operator of the Philippines Inc. (IEMOP) took over. Energy Secretary Alfonso G. Cusi was then chairman of the PEM board. The representatives of the board included those from the government, power-generation companies, transmission utilities

and distribution utilities. IEMOP now operates the WESM. Among others, it oversees transaction billing and settlement procedures, and maintains and publishes a registry of WESM trading participants. It also sets the dispatch schedule of all power facilities, and monitors daily market-trading activities. The Philippine Electricity Market Corp. (PEMC) remains the spot market’s governing body. The newly created task force will assess the performance of PEMC as the governance arm of the WESM, the performance of IEMOP as the IMO and the overall-performance of the spot market. It will make a recommendation to the energy secretary based on its assessment within 45 days upon effectivity of the circular. “The DOE is mandated to supervise the restructuring of the electric power industry. As the government agency authorized to design the market and its governance, the market structure provided under DC 201801-0002 is subjected to continuing evaluation and assessment of the DOE to determine whether the said arrangement is still relevant to the implementation of the IMO,” the circular stated.

Aramco reveals sharp output decline at super-giant oil field

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P.N.I.A. AT MINING INVESTMENT ASIA CONFAB

Dante Bravo, president of the Philippine Nickel Industry Association (PNIA), speaks at the Mining Investment Asia Forum held from March 26 to 28 in Singapore. Bravo reiterated the initiative’s commitment to discover new industry best practices, collaborate with industry movers, and innovate current processes to ensure the strategic direction and sustainability of the sector. The country’s sole representative during the forum, the PNIA was founded by the Platinum Group Metals Corp., CTP Construction and Mining Corp., Citinickel Mines and Development Corp., Carrascal Nickel Corp., DMCI Mining Corp., Marcventures Mining and Development Corp. and Agata Mining Ventures Inc.

T was a state secret and the source of a kingdom’s riches. It was so important that US military planners once debated how to seize it by force. For oil traders, it was a source of endless speculation. Now the market finally knows: Ghawar in Saudi Arabia, the world’s largest conventional oil field, can produce a lot less than almost anyone believed. When Saudi Aramco on Monday published its first-ever profit figures since its nationalization nearly 40 years ago, it also lifted the veil of secrecy around its mega oil fields. The company’s bond prospectus revealed that Ghawar is able to pump a maximum of 3.8 million barrels a day—well below the more than 5 million that had become conventional wisdom in the market. “As Saudi’s largest field, a surprisingly low production capacity figure from Ghawar is the stand-

out of the report,” said Virendra Chauhan, head of upstream at consultant Energy Aspects Ltd. in Singapore. The Energy Information Administration, a US government body that provides statistical information and often is used as a benchmark by the oil market, listed Ghawar’s production capacity at 5.8 million barrels a day in 2017. Aramco, in a presentation in Washington in 2004 when it tried to debunk the “peak oil” supply theories of the late US oil banker Matt Simmons, also said the field was pumping more than 5 million barrels a day, and had been doing so since at least the previous decade. In his book Twilight in the Desert, Simmons argued that Saudi Arabia would struggle to boost production due to the imminent depletion of Ghawar, among other factors.

Bloomberg News

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Companies BusinessMirror

Thursday, April 4, 2019

PSE STOCK QUOTATIONS

April 3 , 2019

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

ASIA UNITED 58.1 58.6 58.1 58.6 58.1 58.6 4170 244027 BDO UNIBANK 131.5 131.7 131.9 132.2 131.3 131.7 1629650 214699238 BANK PH ISLANDS 83.95 84 84.1 85 84 84 526890 44300565.5 CHINABANK 26.75 26.8 26.8 26.9 26.7 26.8 163700 4383915 EAST WEST BANK 12.12 12.18 12.32 12.32 12.12 12.12 371900 4514558 METROBANK 78.2 79.25 78.2 79.25 77.8 79.25 722150 56524307 PB BANK 13.8 13.86 13.86 13.86 13.86 13.86 35300 489258 PBCOM 21.4 21.7 21.4 21.4 21.4 21.4 1000 21400 PHIL NATL BANK 57.8 57.85 58.2 58.2 57.75 57.8 71190 4127969.5 PSBANK 57.1 57.5 57.5 57.5 57.1 57.1 870 49865 RCBC 26.3 26.35 26.35 26.35 26.25 26.35 33300 876170 SECURITY BANK 173.7 175 171.6 177 171.6 175 735810 128392237 UNION BANK 60.8 61.05 62 62 60.8 61.05 16660 1016336 BRIGHT KINDLE 1.3 1.38 1.3 1.3 1.29 1.3 56000 72420 BDO LEASING 2.2 2.26 2.22 2.26 2.21 2.26 25000 55540 COL FINANCIAL 19 19.06 19 19.1 18.9 18.9 2600 49310 FIRST ABACUS 0.6 0.67 0.67 0.67 0.67 0.67 2000 1340 FERRONOUX HLDG 4.16 4.24 4.17 4.25 4.16 4.25 4000 16740 MANULIFE 795 810 800 800 795 795 90 71800 NTL REINSURANCE 0.91 0.93 0.9 0.91 0.9 0.91 109000 98510 PHIL STOCK EXCH 194.3 196 196 196 194 196 2360 459219 INDUSTRIAL ALSONS CONS 1.41 1.44 1.4 1.44 1.4 1.44 82000 116150 ABOITIZ POWER 35.1 35.35 35.25 35.5 34.6 35.1 581200 20362620 BASIC ENERGY 0.233 0.239 0.24 0.242 0.233 0.24 540000 126180 FIRST GEN 21.35 21.65 21.7 21.7 21.1 21.65 339900 7287250 FIRST PHIL HLDG 80.45 80.6 81.1 81.95 80.45 80.6 70630 5727188 MERALCO 375.2 377 385 385 375.2 375.2 216500 81964354 MANILA WATER 23.25 23.3 24.5 24.5 23.3 23.3 911900 21446310 PETRON 6.41 6.42 6.41 6.44 6.4 6.42 749700 4812288 PETROENERGY 4.2 4.34 4.38 4.42 4.34 4.34 70000 306820 PHINMA ENERGY 1.57 1.58 1.47 1.58 1.45 1.57 96844000 147525960 PHX PETROLEUM 11.88 12.18 11.96 12.22 11.94 12.22 185900 2221578 PILIPINAS SHELL 45.55 45.6 45.2 45.65 45.2 45.55 110200 5016970 SPC POWER 7 7.14 7.16 7.16 7 7.13 91400 646015 AGRINURTURE 15.46 15.8 15.46 16 15.46 15.84 378600 5984040 CNTRL AZUCARERA 14.52 15.1 14.52 15.1 14.52 14.52 5000 74470 CENTURY FOOD 15.28 15.48 15.6 15.62 15.28 15.28 1676100 26009768 DEL MONTE 5.96 6.1 6.1 6.2 5.99 5.99 73400 441108 DNL INDUS 11.32 11.46 11.58 11.7 11.34 11.34 1407500 16056106 EMPERADOR 7.3 7.4 7.4 7.4 7.28 7.3 5200 38025 SMC FOODANDBEV 103.7 104 104.9 104.9 103.4 104 83360 8658592 ALLIANCE SELECT 0.95 0.96 0.96 0.99 0.94 0.96 1597000 1524010 GINEBRA 29.05 29.3 28.15 29.35 28.15 29.35 52100 1515610 JOLLIBEE 318.4 318.8 317 319 316.4 318.8 389250 123880212 LIBERTY FLOUR 52.2 53 52.25 52.25 52.2 52.2 820 42824 MACAY HLDG 10.62 10.78 10.6 10.96 10.4 10.78 25400 268210 MAXS GROUP 14.62 14.64 14.22 14.78 14.22 14.62 2632600 38367376 MG HLDG 0.191 0.2 0.194 0.197 0.19 0.194 510000 98740 PEPSI COLA 1.45 1.46 1.4 1.48 1.38 1.45 16152000 23246580 SHAKEYS PIZZA 12.7 12.8 12.2 12.9 12.14 12.7 4777700 60090826 ROXAS AND CO 1.71 1.72 1.72 1.8 1.71 1.72 62000 106730 RFM CORP 4.67 4.7 4.67 4.67 4.66 4.67 1391000 6495960 ROXAS HLDG 2.42 2.49 2.42 2.42 2.41 2.42 15000 36290 SWIFT FOODS 0.128 0.132 0.128 0.128 0.128 0.128 80000 10240 UNIV ROBINA 153 153.2 152.4 153 151.6 153 836510 127609962 VITARICH 1.68 1.69 1.68 1.69 1.67 1.68 2039000 3419600 CEMEX HLDG 2.25 2.26 2.62 2.63 2.19 2.26 118225000 276121990 EAGLE CEMENT 15.88 15.9 15.78 15.9 15.7 15.88 77800 1232812 EEI CORP 9.45 9.5 9.45 9.63 9.45 9.5 827500 7888664 HOLCIM 10.8 10.88 10.96 10.96 10.64 10.8 3082600 33356248 MEGAWIDE 21.55 21.6 21.45 21.7 21.35 21.6 928800 20014570 PHINMA 9.02 9.1 9 9.02 9 9.02 11000 99160 TKC METALS 0.97 0.98 1 1 0.97 0.97 149000 144690 VULCAN INDL 1.03 1.05 1.08 1.08 1.02 1.03 3754000 3902040 CROWN ASIA 1.89 1.9 1.89 1.9 1.89 1.9 220000 417910 LMG CHEMICALS 4.04 4.05 4.05 4.05 4.04 4.05 120000 485800 PRYCE CORP 5.44 5.55 5.62 5.62 5.44 5.44 791500 4357925 CONCEPCION 43.5 44 43.95 44 43.5 43.5 3900 170540 GREENERGY 2.53 2.54 2.59 2.6 2.47 2.54 10682000 26991220 INTEGRATED MICR 12.54 12.62 12.52 12.7 12.52 12.54 390400 4923674 IONICS 1.81 1.82 1.82 1.82 1.77 1.82 424000 760030 PANASONIC 5.96 6.13 6 6 5.96 5.96 11600 69180 SFA SEMICON 1.29 1.33 1.28 1.33 1.28 1.33 67000 87010 CIRTEK HLDG 28.9 29.45 29.45 29.45 28.8 29.45 75800 2223695

HOLDING & FRIMS

ABACORE CAPITAL 0.58 0.59 0.61 0.61 0.56 0.58 26290000 15168830 ASIABEST GROUP 19.28 19.5 20.3 20.3 19.28 19.28 94100 1840753 AYALA CORP 925.5 926 928 930 924 926 119120 110364760 ABOITIZ EQUITY 59.85 60 59.6 60 59.25 60 876500 52302030.5 ALLIANCE GLOBAL 16.16 16.18 16 16.16 15.94 16.16 2780000 44601510 ANSCOR 6.5 6.65 6.5 6.5 6.5 6.5 130000 845000 ANGLO PHIL HLDG 0.81 0.83 0.81 0.83 0.79 0.83 1523000 1232210 ATN HLDG A 1.37 1.38 1.35 1.39 1.35 1.37 3067000 4201740 ATN HLDG B 1.38 1.4 1.37 1.41 1.37 1.41 32000 43880 COSCO CAPITAL 7.6 7.66 7.64 7.66 7.58 7.66 1734500 13213804 DMCI HLDG 11.76 11.8 11.76 11.92 11.76 11.8 5463700 64522302 FILINVEST DEV 15.18 15.22 15.5 15.5 14.84 15.18 466600 7074130 FJ PRINCE A 4.31 4.74 4.4 4.5 4.4 4.5 10000 44700 FORUM PACIFIC 0.232 0.247 0.24 0.249 0.24 0.248 250000 61430 GT CAPITAL 899 900 890 907.5 890 900 82810 74441865 HOUSE OF INV 6.92 6.95 6.96 6.96 6.95 6.95 26200 182200 JG SUMMIT 64.15 64.5 64.5 64.5 63.6 64.5 746630 47943270 JOLLIVILLE HLDG 5.08 5.84 5.2 5.2 5.2 5.2 2000 10400 LODESTAR 0.5 0.53 0.53 0.53 0.5 0.53 2028000 1033250 LOPEZ HLDG 5.39 5.4 5.33 5.39 5.25 5.39 1273800 6812445 LT GROUP 15.98 16 16 16.06 15.92 16 4634600 73967302 MABUHAY HLDG 0.56 0.57 0.55 0.57 0.55 0.57 250000 140180 METRO PAC INV 4.66 4.67 4.72 4.74 4.64 4.67 26008000 121618100 PACIFICA 0.039 0.04 0.04 0.041 0.038 0.039 187000000 7269700 PRIME ORION 2.87 2.88 2.92 2.95 2.88 2.88 1595000 4618290 SOLID GROUP 1.33 1.36 1.36 1.36 1.33 1.36 143000 190250 SYNERGY GRID 388 390 420 420 390 390 740 291590 SM INVESTMENTS 943.5 945 941 947.5 935.5 945 147080 138853110 SAN MIGUEL CORP 173.8 174 174.2 174.2 173.5 173.8 198690 34536106 SOC RESOURCES 1.04 1.05 1.05 1.08 1.01 1.05 4141000 4297490 TOP FRONTIER 263 273 262 273 262 273 1020 277744 WELLEX INDUS 0.246 0.249 0.235 0.249 0.23 0.249 5660000 1363170 ZEUS HLDG 0.38 0.385 0.39 0.4 0.375 0.38 42040000 16486700 PROPERTY ARTHALAND CORP 0.82 0.83 0.82 0.83 0.8 0.82 1490000 1203780 ANCHOR LAND 10.24 10.9 10.24 10.24 10.24 10.24 500 5120 AYALA LAND 44.6 44.65 44.6 44.85 44.5 44.6 4761300 212325055 BELLE CORP 2.34 2.35 2.32 2.36 2.32 2.34 390000 909680 A BROWN 0.77 0.79 0.79 0.79 0.77 0.77 640000 498730 CITYLAND DEVT 0.92 0.94 0.94 0.94 0.92 0.94 94000 88160 CROWN EQUITIES 0.242 0.244 0.245 0.245 0.242 0.242 180000 43680 CEBU HLDG 6.2 6.5 6.54 6.57 6.1 6.54 53900 329057 CEB LANDMASTERS 4.2 4.22 4.23 4.23 4.2 4.22 421000 1772880 CENTURY PROP 0.52 0.53 0.54 0.54 0.52 0.53 15218000 8055390 CYBER BAY 0.39 0.41 0.4 0.4 0.39 0.4 60000 23900 DOUBLEDRAGON 23.05 23.25 23.65 23.8 22.65 23.25 474200 11000360 DM WENCESLAO 12 12.08 12.38 12.38 11.86 12 1609900 19429090 EMPIRE EAST 0.5 0.51 0.51 0.52 0.5 0.5 2693000 1363270 EVER GOTESCO 0.13 0.134 0.132 0.134 0.13 0.13 40000 5300 FILINVEST LAND 1.5 1.51 1.53 1.53 1.5 1.51 21524000 32502880 GLOBAL ESTATE 1.34 1.35 1.32 1.35 1.31 1.34 1882000 2517910 8990 HLDG 13.2 13.28 13 13.28 12.9 13.28 2152600 27944000 PHIL INFRADEV 1.68 1.69 1.71 1.74 1.6 1.69 3973000 6705220 MEGAWORLD 5.66 5.69 5.73 5.73 5.65 5.69 6659900 37922999 MRC ALLIED 0.37 0.375 0.375 0.38 0.37 0.37 10810000 4022050 PHIL ESTATES 0.53 0.54 0.46 0.54 0.46 0.54 28980000 14972150 PRIMEX CORP 2.58 2.6 2.59 2.61 2.59 2.6 145000 376420 ROBINSONS LAND 24.1 24.75 24.3 24.75 24 24.75 2871600 69741595 PHIL REALTY 0.415 0.42 0.42 0.42 0.415 0.415 930000 387400 ROCKWELL 2.02 2.04 2.04 2.05 2.02 2.04 129000 262540 SHANG PROP 2.99 3.05 3.05 3.05 3 3 290000 870300 STA LUCIA LAND 1.54 1.56 1.54 1.57 1.54 1.56 182000 283790 SM PRIME HLDG 39.35 39.4 39.35 39.65 39.2 39.35 4402800 173281660 STARMALLS 6.58 6.65 6.75 6.75 6.57 6.7 19400 130017 SUNTRUST HOME 0.74 0.75 0.74 0.75 0.74 0.74 301000 222750 PTFC REDEV CORP 50 51 51.25 51.25 50 50 1990 101030 VISTA LAND 7.19 7.23 7.25 7.25 7.17 7.23 2363700 17058858 SERVICES ABS CBN 19.68 19.7 20.1 20.1 19.7 19.7 255400 5046774 GMA NETWORK 5.79 5.81 5.83 5.84 5.79 5.81 537900 3121800 MANILA BULLETIN 0.61 0.62 0.58 0.64 0.58 0.61 3424000 2099130 MLA BRDCASTING 15.12 17.44 17.5 17.5 17.5 17.5 600 10500 GLOBE TELECOM 1910 1955 1922 1955 1895 1955 27260 52278985 PLDT 1130 1131 1137 1140 1121 1131 78485 88599650 APOLLO GLOBAL 0.041 0.042 0.042 0.042 0.041 0.042 1000000 41300 DFNN INC 6.88 6.9 6.9 6.9 6.86 6.9 45200 310980 IMPERIAL 1.87 2 1.89 1.89 1.87 1.87 13000 24350 ISLAND INFO 0.131 0.134 0.13 0.135 0.127 0.134 4130000 549340 ISM COMM 5.01 5.02 4.49 5.04 4.36 5.01 11912000 56679300 JACKSTONES 3.04 3.16 3.16 3.16 3.16 3.16 1000 3160 NOW CORP 2.59 2.6 2.5 2.62 2.5 2.59 1135000 2906740 TRANSPACIFIC BR 0.405 0.41 0.405 0.41 0.4 0.405 4860000 1968100 PHILWEB 2.6 2.65 2.61 2.67 2.57 2.65 619000 1613030 2GO GROUP 12.3 12.4 12.6 12.6 12.1 12.4 18100 222240 ASIAN TERMINALS 14.7 16.26 14.52 14.52 14.52 14.52 100 1452 CHELSEA 5.45 5.46 5.26 5.47 5.24 5.45 696200 3747652 CEBU AIR 81.85 81.95 82.7 82.7 81.5 81.85 80370 6584868 INTL CONTAINER 128.2 129.4 130 130 128.2 129.4 851410 110180914 LORENZO SHIPPNG 0.93 0.94 0.96 0.96 0.93 0.94 1171000 1100490 MACROASIA 22.25 22.3 22.2 22.7 22.2 22.3 1253500 28106065 METROALLIANCE A 1.66 1.74 1.66 1.74 1.66 1.74 31000 52100 METROALLIANCE B 1.45 2 1.75 1.75 1.41 1.41 42000 67060 PAL HLDG 10.1 10.36 10.4 10.4 10.02 10.36 11700 118202 HARBOR STAR 2.98 2.99 2.95 3.07 2.95 2.98 1148000 3463890 ACESITE HOTEL 1.25 1.3 1.25 1.25 1.25 1.25 20000 25000 BOULEVARD HLDG 0.071 0.072 0.071 0.073 0.069 0.071 73170000 5211960 DISCOVERY WORLD 2.1 2.15 2.1 2.1 2.1 2.1 6000 12600 WATERFRONT 0.71 0.72 0.66 0.71 0.64 0.71 6384000 4392280 CENTRO ESCOLAR 7.52 7.98 7.52 7.52 7.52 7.52 500 3760 FAR EASTERN U 895 903 890.5 890.5 890.5 890.5 30 26715 IPEOPLE 10.6 10.8 10.6 10.8 10.6 10.6 14200 150620 STI HLDG 0.69 0.7 0.7 0.7 0.69 0.69 1749000 1213500 BERJAYA 2.6 2.63 2.7 2.7 2.6 2.6 1015000 2653940 BLOOMBERRY 12.16 12.2 11.8 12.2 11.8 12.2 8061500 97232288 PACIFIC ONLINE 4.41 4.48 4.53 4.53 4.39 4.4 116000 513260 LEISURE AND RES 3.77 3.8 3.88 3.97 3.75 3.78 2483000 9608230 MANILA JOCKEY 4.51 4.81 4.51 4.81 4.5 4.81 18000 81320 PH RESORTS GRP 4.51 4.7 4.53 4.7 4.42 4.7 50000 227730 PREMIUM LEISURE 0.83 0.84 0.85 0.86 0.83 0.84 3385000 2843780 PHIL RACING 7.61 8.48 8.49 8.49 8.49 8.49 100 849 TRAVELLERS 5.63 5.65 5.63 5.65 5.6 5.63 164300 924616 METRO RETAIL 3.25 3.27 3.33 3.35 3.2 3.25 1987000 6482850 PUREGOLD 48.05 48.4 48.1 48.4 47.85 48.4 241200 11634985 ROBINSONS RTL 79.9 80 80.05 80.05 79.9 80 888060 71040128 PHIL SEVEN CORP 120 123 123 123 120 120 420 50430 SSI GROUP 2.4 2.41 2.44 2.44 2.4 2.41 5698000 13750650 WILCON DEPOT 15.48 15.54 15.58 15.62 15.48 15.54 3158400 49128976 APC GROUP 0.425 0.435 0.425 0.43 0.425 0.43 520000 221100 EASYCALL 10.82 11.1 11.2 11.26 10.4 11.1 95400 1040968 GOLDEN BRIA 362 377 365 377 365 377 2700 1008154 IPM HLDG 7.07 7.08 7.09 7.09 7.08 7.08 13000 92090 PRMIERE HORIZON 1.02 1.03 1.11 1.13 1.01 1.02 103397000 109603900 SBS PHIL CORP 8.94 8.97 8.51 8.97 8.51 8.97 13000 116128 MINING & OIL ATOK 12.02 12.48 12.48 12.48 12.48 12.48 7600 94848 APEX MINING 1.36 1.37 1.39 1.39 1.34 1.36 2058000 2792640 ABRA MINING 0.0019 0.0021 0.0019 0.0021 0.0019 0.002 243000000 484800 ATLAS MINING 2.94 3.04 2.95 3.05 2.95 3.05 204000 621250 BENGUET A 1.58 1.7 1.26 1.8 1.26 1.7 930000 1503160 BENGUET B 1.53 1.74 1.58 1.75 1.5 1.66 622000 1003910 COAL ASIA HLDG 0.295 0.3 0.3 0.31 0.3 0.3 2470000 742250 CENTURY PEAK 2.66 2.67 2.62 2.7 2.62 2.66 1346000 3591270 DIZON MINES 7.77 7.79 7.77 7.81 7.72 7.81 3900 30317 FERRONICKEL 1.58 1.6 1.6 1.62 1.55 1.58 2359000 3724430 GEOGRACE 0.26 0.27 0.275 0.275 0.255 0.27 4200000 1098550 LEPANTO A 0.116 0.118 0.118 0.118 0.118 0.118 60000 7080 LEPANTO B 0.117 0.118 0.118 0.125 0.118 0.118 350000 41510 MANILA MINING A 0.0082 0.0084 0.0084 0.0084 0.0084 0.0084 3000000 25200 MARCVENTURES 1.09 1.11 1.12 1.12 1.06 1.11 97000 104740 NIHAO 1 1.04 1.04 1.04 1 1.04 5000 5080 NICKEL ASIA 2.52 2.55 2.52 2.55 2.5 2.52 1222000 3082700 OMICO CORP 0.59 0.64 0.59 0.64 0.59 0.59 187000 110550 ORNTL PENINSULA 0.9 0.91 0.89 0.92 0.89 0.92 259000 231920 PX MINING 3.37 3.38 3.38 3.39 3.37 3.38 176000 594870 SEMIRARA MINING 21.8 22 22 22.2 21.7 22 830700 18193875 ORNTL PETROL A 0.012 0.013 0.012 0.012 0.012 0.012 200000 2400 ORNTL PETROL B 0.012 0.013 0.013 0.013 0.013 0.013 600000 7800 PHILODRILL 0.011 0.012 0.012 0.012 0.011 0.012 1300000 15400 PXP ENERGY 9.29 9.3 9.5 9.56 9.25 9.3 2460200 23020418

PREFFERED HOUSE PREF A AC PREF B2 DD PREF FGEN PREF G GTCAP PREF B LR PREF MWIDE PREF PNX PREF 3B SFI PREF SMC PREF 2B SMC PREF 2C SMC PREF 2D SMC PREF 2E SMC PREF 2F SMC PREF 2G SMC PREF 2I

94 485 96.4 100.8 900 0.98 100.1 105 1.32 74.75 75.95 72.05 72.25 74.5 72.55 72.25

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR GMA HLDG PDR

19.02 5.62 1.9

SMALL & MEDIUM ENTERPRISES ITALPINAS 4.87 XURPAS 1.21

117.7

214440 96640 -29906165 -10364892 27482792 333450 -7649569 16950670 1794304 -4800 -42747555 -3723926 467742 4073458 50050 -64869650 76000 996570 2660 -267710 21536080 -7463461 -10400 -78564 3800150 59682255 -18340 27060 24200 -657 -304560 302430 1748700 158814 -512890 -12905450 -11980804 181560 -10793906 -26250 140000 -228790 980615 2020 -30000 -13284810 222000 -4259616 6387545 19770690 -44540 1147160 74729.9999 331800 144290 9702 2502696.5 26669534 27900 -15633880 10420 -12600 109220 -28840 29425216 3547540 -225680 -292852 719920 -256655 -10283046.5 -49200 3754390 -2470610 -26390 -592980 62400 -278750 149120 -75500 21440 4230 234110 -1047720 -6500 -1821095

95.85 495 97.5 104.3 900 0.99 102.9 106 1.3 74.75 75.5 71.7 74.2 74.95 74.25 73.5

95.85 495 97.5 104.3 900 0.99 102.9 106 1.3 75.1 76 71.7 74.25 74.95 74.25 73.5

95.85 490 97.5 104.3 900 0.99 102.9 106 1.3 74.75 75.2 71.7 74.2 74.75 74.25 73.5

95.85 490 97.5 104.3 900 0.99 102.9 106 1.3 75.1 76 71.7 74.25 74.75 74.25 73.5

50 430 100 110 12020 19000 100 10 8000 8110 43640 300 1370 48500 5000 5440

4792.5 212200 9750 11473 10818000 18810 10290 1060 10400 606247 3285866 21510 101710.5 3627275 371250 399840

-9750 -

19.46 5.68

19.08 5.61

19.08 5.61

19.02 5.61

19.02 5.61

133000 2000

2536112 11220

-2452424 -

1.92

1.9

2.02

1.89

1.9

306000

588830

-

4.97 1.22

4.87 1.15

4.98 1.23

4.87 1.15

4.97 1.21

50000 9050000

244460 10828610

-168010

EXHANGE TRADE FUNDS FIRST METRO ETF

-14121330 3239045 973361 -7927186 -11158185 -369779 402740 -1898460 -1588890 3604144 -7811370 -240727 -8690838 -32105 -6328738 509795 5529454 1181098 -6514370 -31032398 -6467950 25045401.9998 7055020 240996 -2297280 -13830090 10179910 48500 174160 19000 -1824122 52320 1103060 -451466 -326540

95.8 490 97.5 104.3 924 1 102.7 106 1.78 75.1 76 73.65 74.1 74.75 74.4 73.5

WARRANTS LR WARRANT

229498 67624544 5660176.5 -291605 -2876100 5001461.5 -667000 -528775 110658453 -350092 -5880

117.8

117.4

117.8

117.3

117.8

4670

549395

47080

Editor: Efleda P. Campos

NGCP delays planned IPO

T

By Lenie Lectura

@llectura

HE National Grid Corp. of the Philippines (NGCP) on Wednesday laid down valid grounds to delay its planned initial public offering (IPO), citing, among other reasons, public threats made against its concession by state firm National Transmission Corp. (Transco). “The entire business of NGCP is founded on the concession agreement, which has been publicly threatened by Transco’s president, Melvin Matibag. NGCP obviously took this public declaration seriously because it came from Attorney Matibag, the president of Transco himself, and that to this very date, to NGCP’s knowledge, neither PSALM [Power Sector Assets and Liabilities Management Corp.] nor Transco has disowned or contradicted this public declaration.

“It thus makes no sense and would be downright irresponsible for NGCP to proceed with the IPO and ask the public to invest in a business the basic concession of which has been publicly threatened by the government. NGCP cannot perpetrate a fraud against the investors,” the grid operator said in a statement released during a public hearing presided by Sen. Sherwin Gatchalian, Senate Committee on Energy chairman. NGCP won the concession to op-

Shakey’s PHL 2018 income grows 10% to ₧843 million

S

HAKEY’S Pizza Asia Ventures Inc., which owns the American pizza brand in the Philippines and in the region, said its income last year grew 10 percent to P843 million, from last year’s P762.14 million on higher system-wide sales. “The good news is we saw profit improvements during the last quarter despite compression in our margins for most of the year. Toward year-end, we benefitted from the softening of certain raw-material prices, which were then supported by more judicious promotional spending and the operating leverage brought about by seasonally strong December sales,” said Vicente Gregorio, the company’s president and CEO. System-wide sales rose 12 percent to P9.36 billion, driven primarily by the opening of 20 net new stores locally. This brought Shakey’s Philippine store count to 228 as of end2018. Revenues grew 8 percent to P7.58 billion, from the previous year’s P7 billion. Gross profit was up 4 percent

to P2.16 billion, but it incurred a 100-basis point drop in gross-profit margins to 28.5 percent. “This was driven mainly by various cost pressures, including higher raw material prices and a weakened local currency, combined with the impact of various sales-supporting initiatives,” it said. Same-store sales growth was at 4 percent, still in line with the company’s annual target of 3 percent to 5 percent, despite a challenging second half due to weakened consumer sentiment brought about by higher inflation, it said. This year, the company is set to open another 20 net new stores in the Philippines, targeting a nationwide store count of 248 by the end of this year. Overseas, the company currently has three outlets in the Middle East where strong sales are supported by a large overseas Filipino base. With two international area development agreements signed up, its total international pipeline is at least 20 outlets over the next few years, it said.

ABS-CBN claims winning TV ratings battle in March

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OMPETITORS ABS-CBN Corp. and GMA Network Inc. claimed on Wednesday they led the ratings game last month, citing data from two different sources. Lopez-led entertainment and multimedia conglomerate ABS-CBN, citing data from Kantar Media, claimed to have posted a higher national-average audience share in March, after recording a solid 47-percent audience share, beating GMA by 17 points. ABS-CBN also claimed leadership in Metro Manila and Mega Manila, where it scored an average audience share of 44 percent and 38 percent, respectively, against GMA’s 24-percent and 30-percent share. The Lopez-led broadcaster also attracted more viewers than GMA in other areas. It won the ratings game in Total Luzon with an average total-day audience share of 41 percent, versus GMA’s 33 percent; in Total Visayas with 57 percent versus GMA’s 23 percent; and in Total Mindanao with 56 percent, versus GMA’s 25 percent.

ABS-CBN also claimed it fared better against GMA in the prime-time block, after it registered a 50-percent audience share, significantly higher than its rival’s 30 percent. The prime-time block is the most important part of the day when most Filipinos watch TV and advertisers put a larger chunk of their investment in to reach more consumers effectively. Aside from prime time, ABSCBN won in other time blocks nationwide that include the morning block with 38 percent, versus GMA’s 28 percent; noontime block with 48 percent, versus GMA’s 29 percent; and afternoon block with 49 percent, versus GMA’s 30 percent. The Gozon-led network claimed to have dominated in the National Urban Television Audience Measurement (Nutam) with a 36.4-percent average household audience share in March, ahead of ABS-CBN’s 35.5 percent by just a few percentage points, based on data from Nielsen TV Audience Measurement. Lorenz S. Marasigan

erate and manage the grid system in December 2007 for $3.95 billion. Transco still owns the assets. It is only the NGCP that operates the country’s power-transmission network for 25 years. Under the law, NGCP should make a public offering of the shares representing at least 20 percent of its outstanding capital stock within 10 years from the commencement of its operation, which was on January 15, 2009. NGCP filed a petition for extension for the listing of the shares; the petition is pending before the Energy Regulatory Commission (ERC). During the hearing on Wednesday, the grid operator said the current market condition is not suitable for the listing and public offering of its shares because of the absence of the final determination of price-control arrangements from the ERC for the forth regulatory period (2016-2020); the pending disputes among NGCP, Transco and the PSALM which are now in arbitration; and the public threats made against NGCP’s concession, whether these are raised

MUTUAL FUNDS

in arbitration. On February 14, 2018, NGCP filed with the Singapore International Arbitration Centre a notice of arbitration against PSALM and Transco. The case is still pending. “As to the subject matter of this Committee’s inquiry in aid of legislation, we wish to emphasize that NGCP is not asking for an exemption to comply with the requirement to list its shares of stock. NGCP intends to comply with the requirement of listing of shares. NGCP simply asks for a reasonable extension of the period within which to do so, as expressly allowed under Section 8 of its franchise [Republic Act 9511], based on the ground that the market condition is not suitable for such listing,” NGCP said It explained the absence of the final determination of price-control arrangements for the fourth Regulatory Period prevents NGCP from having definitive base case financial projections for an IPO, which are commonly required from NGCP in the proposals submitted by various banks.

April 3, 2019

NAV ONE YEAR THREE YEAR FIVE YEAR Y-T-D PER SHARE RETURN* RETURN STOCK FUNDS ALFM GROWTH FUND, INC. -A 263.57 -3.82% 1.19% 1.52% 4.5% ATRAM ALPHA OPPORTUNITY FUND, INC. -A 1.6225 0.38% 10.52% 4.51% 12.61% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC. -A 4.098 -5.21% 1.52% 0.45% 5% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP. -A 0.9366 -1.45% N.A. N.A. 5.18% FIRST METRO CONSUMER FUND ON MSCI PHILS. IMI, INC. -A 0.8635 N.A. N.A. N.A. 5.22% FIRST METRO SAVE AND LEARN EQUITY FUND,INC. -A 5.4801 -1.96% 1.37% 1.36% 3.97% MBG EQUITY INVESTMENT FUND, INC. -A 127.86 9.94% N.A. N.A. 9.79% ONE WEALTHY NATION FUND, INC. -A 0.8744 -4.55% -4.44% N.A. 5.05% PAMI EQUITY INDEX FUND, INC. -A 51.9157 -1.64% 2.06% N.A. 5.51% PHILAM STRATEGIC GROWTH FUND, INC. -A 543 -1.58% 1.1% 1.27% 5.49% PHILEQUITY DIVIDEND YIELD FUND, INC. -A 1.3098 -0.87% 2.72% 4.33% 4.45% PHILEQUITY FUND, INC. -A 38.6933 -0.87% 3.61% 3.64% 5.63% PHILEQUITY MSCI PHILIPPINE INDEX FUND, INC. -A,3 1.0355 N.A. N.A. N.A. N.A. PHILEQUITY PSE INDEX FUND INC. -A 5.2552 -1.54% 2.94% 3.62% 5.98% PHILIPPINE STOCK INDEX FUND CORP. -A 877.19 -1.42% 2.63% 3.55% 5.88% SOLDIVO STRATEGIC GROWTH FUND, INC. -A 0.9245 1.1% 1.7% N.A. 7.35% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC. -A 4.3099 -0.13% 3% 2.58% 6.18% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC. -A 1.0086 -1.92% 2.63% N.A. 5.69% UNITED FUND, INC. -A 3.7006 1.05% 4.77% 3.51% 5.7% EXCHANGE TRADED FUND FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC. -A,C,2 117.3458 -1.06% 3.7% 4.63% 5.96% ATRAM ASIAPLUS EQUITY FUND, INC. -B $1.0294 -6.26% 7% 1.55% 10.8% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC. -A $1.2705 0.82% N.A. N.A. 14.97% BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES ATRAM DYNAMIC ALLOCATION FUND, INC. -A 1.7202 -2.9% -0.53% -1.14% 4.18% ATRAM PHILIPPINE BALANCED FUND, INC. -A 2.3119 -2.1% 1.19% 1% 4.65% FIRST METRO SAVE AND LEARN BALANCED FUND INC. -A 2.6449 -0.63% -0.52% -0.99% 3.97% GREPALIFE BALANCED FUND CORPORATION -A 1.3512 -3.16% N.A. N.A. 3.6% NCM MUTUAL FUND OF THE PHILS., INC. -A 1.9139 0.15% 1.27% 1.5% 3.84% PAMI HORIZON FUND, INC. -A 3.6809 -1.17% 0.08% 0.68% 4.3% PHILAM FUND, INC. -A 16.6019 -0.37% 0.28% 0.71% 4.36% SOLIDARITAS FUND, INC. -A 2.1462 -0.37% 1.61% 2.29% 3.57% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC. -A 3.846 0.55% 1.38% 1.69% 5.33% SUN LIFE PROSPERITY ACHIEVER FUND 2028, INC. -A,D,4 0.9988 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2038, INC. -A,D,4 0.9997 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2048, INC. -A,D,4 0.997 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY DYNAMIC FUND, INC. -A 0.9817 0.86% 1.45% N.A. 6.51% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES COCOLIFE DOLLAR FUND BUILDER, INC. -A $0.0361 1.92% 0.49% 1.6% 2.41% PAMI ASIA BALANCED FUND, INC. -A $0.9948 -5.55% 3.68% -0.13% 6.26% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC. -A $3.6745 0.78% 6% 2.59% 11.07% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC. -A $1.0841 -0.38% N.A. N.A. 7.34% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM PESO BOND FUND, INC. -A 347.24 2.81% 2.12% 2.09% 1.12% ATRAM CORPORATE BOND FUND, INC. -A,1 1.8797 0.95% -0.27% -0.17% 1.1% COCOLIFE FIXED INCOME FUND, INC. -A 3.0076 5.33% 5.26% 5.28% 1.24% EKKLESIA MUTUAL FUND INC. -A 2.1575 2.46% 1.16% 1.81% 1.27% FIRST METRO SAVE AND LEARN FIXED INCOME FUND,INC. -A 2.269 2.42% 0.63% 1.01% 2.7% GREPALIFE FIXED INCOME FUND CORP. -A P 1.6017 0.33% -0.88% 0.29% 2.38% PHILAM BOND FUND, INC. -A 4.0316 1.63% -0.37% 0.81% 2.85% PHILEQUITY PESO BOND FUND, INC. -A 3.6057 3.1% 0.97% 1.23% 2.52% SOLDIVO BOND FUND, INC. -A 0.9198 1.46% -0.51% N.A. 3.05% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC. -A 2.8854 4.37% 1.3% 1.82% 4.32% SUN LIFE PROSPERITY GS FUND, INC. -A 1.6021 3.94% 0.76% 1.35% 4.04% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ALFM DOLLAR BOND FUND, INC. -A $453.57 2.44% 1.91% 2.91% 1.18% ALFM EURO BOND FUND, INC. -A Є216.09 1.61% 1.47% 1.64% 1.62% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC. -B $1.1648 4.19% 1.6% 2.25% 3.46% FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC. -A $0.0252 1.61% 0.81% N.A. 1.61% GREPALIFE DOLLAR BOND FUND CORP. -A $1.7132 -1.07% -1.17% 0.9% 1.36% MAA PRIVILEGE DOLLAR FIXED INCOME FUND, INC. N.S. N.S. N.S. N.S. N.S. MAA PRIVILEGE EURO FIXED INCOME FUND, INC. ЄN.S. N.S. N.S. N.S. N.S. PAMI GLOBAL BOND FUND, INC -A $1.0625 1.41% -0.58% -2.2% 2.4% PHILAM DOLLAR BOND FUND, INC. -A $2.2571 2.79% 0.63% 2.87% 3.96% PHILEQUITY DOLLAR INCOME FUND INC. -A $0.0580636 2.13% 1.19% 1.76% 1.9% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC. -A $2.9778 1.17% 0.12% 2.17% 3.68% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM MONEY MARKET FUND, INC. -A 122.25 3.48% 2.19% 1.76% 1.17% FIRST METRO SAVE AND LEARN MONEY MARKET FUND, INC. -A,5 1.0065 N.A. N.A. N.A. N.A. PHILAM MANAGED INCOME FUND, INC. -A 1.194 2.65% 1.07% 0.73% 1.02% SUN LIFE PROSPERITY MONEY MARKET FUND, INC. -A 1.2318 3.17% 2.46% 1.82% 1.05% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC. -A $1.0223 2.06% N.A. N.A. 0.63% * - NAVPS AS OF THE PREVIOUS BANKING DAY ** - NAVPS AS OF TWO BANKING DAYS AGO *** - LISTED IN THE PSE. **** - RE-CLASSIFIED INTO A BALANCED FUND STARTING JANUARY 1, 2017 (FORMERLY GREPALIFE BOND FUND CORP.). ***** - LAUNCH DATE IS NOVEMBER 6, 2017 ****** - LAUNCH DATE IS JANUARY 08, 2018 ******** - RENAMING OF THE FUND WAS APPROVED BY THE SEC LAST APRIL 13, 2018. ********* - BECAME A MEMBER SINCE APRIL 20, 2018. ******* - ADJUSTED DUE TO CASH DIVIDEND ISSUANCE LAST JANUARY 29, 2018

www.businessmirror.com.ph

Banking&Finance BusinessMirror

Thursday, April 4, 2019

B3

April 15 is Holy Monday: Avoid the crunch, pay income taxes now, BIR advises public By Bernadette D. Nicolas

T

@BNicolasBM

HE Bureau of Internal Revenue (BIR) urged all taxpayers to file and pay their 2018 income tax returns on or before April 15 to avoid paying penalties. Those who will file and pay later than April 15 will be charged a 25-percent surcharge, 12 percent per annum and graduated compromise penalties.

“Let us not wait for April 15 and that week is already Holy Week, April 15 is a Holy Monday…. The earlier [you file] the better, otherwise [April] 15 is the last day,

that’s a Holy Monday already, you don’t want to get entangled with the clogged system or even with the long lines of people filing in the bureaus so as early as now, please file already,” BIR Spokesman and Deputy Commissioner for Legal Affairs Atty. Marissa Cabreros said in a Palace briefing on Wednesday. For easier tax filing, the income tax return forms are now shortened to two to four pages for both individuals and corporations, and the BIR has also added more modes of payment. Aside from Authorized Agent Banks (AABs) or the Revenue Col-

lection Officers where there are no AABs located in Revenue District Offices where the taxpayer is registered, online payment may be made through Globe G-Cash, Land Bank of the Philippines LinkBiz ATM/Debit Cards, Development Bank of the Philippines Tax Online Credit/ATM/Debit Cards or t hrough Electronic Fi l ing Payment System. Meanwhile, Tax Filing Assistance Centers were also set up at all BIR Revenue District Offices to assist all taxpayers in filing and payment of their income tax returns. There are also eLounges in all RDOs for online filers.

The banking hours of A ABs are also extended until 5 p.m. for April 1 to 15 in line with the tax filing season. They are also open on two consecutive Saturdays, April 6 and 13, to accept tax payments within their areas of jurisdiction. The National Training Center in the BIR National Office in Diliman, Quezon City, is also open until April 15, including the two Saturdays, from 8 a.m. to 5 p.m. for taxpayers who are registered in Revenue Region 5-Caloocan City, Revenue Region 6-City of Manila, Revenue Region 7-Quezon City and Revenue

New SSS chief sets eyes on boosting T revenue, expanding member services

Region 8-Makati City. The BIR is targeting to hit its revenue collection goal this year at P2.33 trillion. A lthough BIR was 3.9-percent short of its 2018 goal of P2.04 trillion, the collection was pointed out as already representing almost 96 percent of its revenue goal. The BIR has since said it will focus on its efforts on law enforcement through intensified audit and investigation, and that it will continue with its Oplan Kandado and RATE (Run After Tax Evaders) program to reach its target this year.

The ‘A to Z’ jobs of an association executive

By Rea Cu

@ReaCuBM

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HE newly named president and CEO of the Social Security System (SSS) thanked President Duterte for entrusting her with the job of overseeing the state-run private workers pension fund, and promised to keep the welfare of its members as top priority. In a statement on Wednesday, SSS President and CEO Aurora C. Ignacio thanked President Duterte for the trust and confidence given to her in line with overseeing the operations of the agency, following her appointment last week. “I am grateful to President Duterte for the opportunity to serve his administration in another capacity. Rest assured that the welfare of SSS members and

pensioners will always be my priority,” Ignacio said. As the new head of the SSS, she will be responsible for the day-today operations of the agency as it pushes toward a strong and viable pension fund. The good health of the pension fund is crucial to ensuring social security protection coverage for all working Filipinos here and abroad. Ignacio has set her sights on increasing revenue and improving service delivery for the agency’s clients. Prior to her appointment at the SSS, Ignacio was named as the first woman chairperson of the Social Security Commission (SSC), the highest policy-making body of the SSS, in September 2018. She also previously served as assistant secretary for Special Projects under the Office of the President of the Philippines and

was designated focal person for Anti-Illegal Drugs by virtue of Presidential Directive 5. At the same time, she attended to her duties as principal member of the Task Force on the Establishment of Rehabi litation and Treatment Centers for Drug Users, guest member of the Dangerous Drugs Board and council member of the National Food Authority. Ignacio is the second female head of the pension fund since Corazon de la Paz-Bernardo’s term in 2001. On Tuesday, it was reported that President Duterte appointed Ignacio as the new SSS president and CEO alongside the latest batch of presidential appointments—all dated March 28, a day before the election ban took effect. Ignacio has been overseeing the pension fund as officer in

charge after the resignation of former SSS President and CEO Emmanuel F. Dooc earlier in the month. On March 5, Dooc turned in his resignation letter to President Duterte in line with the implementation of its new charter under Republic Act 11199, or the Social Security Act of 2018, wherein Dooc’s term expires automatically upon its implementation. Under RA 11199, Section 3 B, the SSS president and CEO shall be appointed by the President of the Philippines to manage the operations and programs of the agency and carry out the policies of the SSC. Dooc joined the state-run pension fund in November 2016, after being appointed by President Duterte to head the agency. Before that, he served as insurance commissioner since 2011.

HE generic term “association executive” is used universally for those who lead the paid management staff of an association. Titles like secretary-general, executive director or chief executive officer are commonly used, with the first two being more prevalent here in the Philippines. As an association executive for the last 28 years and counting, my work entails a multi-disciplinary skill to be able to navigate and function through the organizational labyrinth and the relational dynamics of an association. So let me share with you the many and diverse jobs—practically from A to Z (yes, 26 letters in all!)—that an association executive does in fulfilling his or her function in the organization. A–ambassador B–business analyst/banker C–consultant/coach D–development director/data processor E–editor/event manager F–fund-raiser/finance manager G–guest-services manager H–human-resource manager I–information-technology administrator J–journalist K–knowledge manager L–legal compliance officer M–market-development officer N–networker/news producer O–office administrator P–personnel director/photographer Q–quality-control analyst R–research director/records administrator S–sales and marketing manager/sustainability officer T–trainer/training and development manager U–underwriting director/user experience

Association World Octavio Peralta designer V–visual-arts professional W–Web manager X–xerox-machine operator Y–youth services specialist Z–zip mail operator As you will note, these jobs can be lowly to complex. Multitasking is also a must. For instance, since I attend meetings and conferences here and abroad alone, and I need to do a new release for our web site and newsletter, I simultaneously act as an events coordinator, a speaker, a photographer, a news writer, etcetera. I think there is no job in the world that can match what an association executive does in achieving the purpose and mission of his or her association. That’s tough but, I hasten to add, fulfilling, too! The contributor, Octavio “Bobby” Peralta, is concurrently the secretary-general of the Association of Development Financing Institutions in Asia and the Pacific, founder and CEO of the Philippine Council of Associations and Association Executives and president of the Asia-Pacific Federation of Association Organizations (Apfao). The purpose of PCAAE—the “association of associations”—is to advance the association-management profession and to make associations well-governed and sustainable. PCAAE enjoys the support of Adfiap, the Tourism Promotions Board (TPB) and the Philippine International Convention Center (PICC). Email: obp@adfiap.org

Pag-IBIG picks BPI AMTC to manage P1-B funds New BMAP officers inducted into office

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HE 2019 board of directors and officers of the Bank Marketing Association of the Philippines (BMAP) was recently inducted by BSP Deputy Governor and Head of Supervision and Examination Sector Chuchi Fonacier at the BSP Complex in Manila. Joining them was BSP Managing Director and Head, Inclusive Finance Advocacy Office and Financial Consumer Protec-

tion Department Pia Bernadette Roman Tayag. BMAP is the premier association of bank marketing and communication professionals in the country which aims to develop, support and implement programs geared toward the advancement of the professional skills and abilities of those engaged in the bank marketing profession. BMAP also seeks to create posi-

tive influence in promoting the interests of the banking industry as it responds to the challenges and opportunities presented by the changes affecting the financial markets. It currently has 57 members from financial institutions and associate members. To know more about BMAP, visit www.bmap.net, or to become a member, e-mail bmapsecretariat@ gmail.com.

PAG-IBIG Fund and BPI Asset Management and Trust Corp. (AMTC) officials pose for a picture after the latter’s selection as one of Pag-IBIG’s fund managers. Representing Pag-IBIG are (from left) Reynaldo M. Malaya, VP-Fund Management Group; Marilene C. Acosta, deputy chief executive officer, Home Lending Operations Cluster; Alexander Hilario G. Aguilar, deputy chief executive officer, Member Services Cluster; Atty. Robert John S. Cosico, officer in charge, Support Services Cluster, and chief legal counsel; Acmad Rizaldy P. Moti, chief executive officer; and BPI AMTC executives Sheila Marie U. Tan, president and chief executive officer; Marijoy Y. Kawpeng, head of Strategic Planning and Marketing; Benjamin Jose B. Bondoc, head of Business Development; Eric Francis R. Manalaysay, Business Development officer; and Paulo Ceasar Y. Edillor, Business Development officer.

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HE Home Development Mutual Fund (Pag-IBIG Fund) has tapped BPI Asset Management and Trust Corp. (AMTC) to manage P1 billion of its funds, which is part of the P5-billion portfolio that it has outsourced to fund managers for the first time. Pag-IBIG Fund, after a rigorous bidding process in mid-2018, awarded BPI AMTC P1 billion to manage for the government firm over a period of five years. “We are grateful for Pag-IBIG Fund’s trust in BPI AMTC. Through this partnership, we get the chance to further contribute to nationbuilding by looking after these funds that are used to help Filipinos realize their dreams of having their own homes,” said BPI AMTC President Shiela Tan. The agency also awarded four other local equity fund managers with P1 billion each. For a period of five years, BPI AMTC will invest in Philippine eq-

uities and seize opportunities in the growing equities market fueled by domestic consumption, especially this year when elections are expected to give the economy an added boost. “Pag-IBIG Fund has been growing at an incredible pace. Last year, our total assets breached the halftrillion mark. With the sustained growth in our housing and savings program, we decided to bid out the management of our portfolio. We opened our doors to partners like BPI AMTC to manage part of our equity fund so that our members can benefit in their expertise. We trust that they will share in our goal to grow the Fund and protect the interests and welfare of our more than 14 million members,” said Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti. BPI AMTC currently has P591 billion in assets under management. Its 32 unit investments trust funds serve a broad spectrum of investor

risk profiles and strategies, and are invested in both local and offshore money market, fixed income and equity assets. The company has already received a number of awards, including Best Asset and Fund Manager in the Philippines for the fourth consecutive year in the 12th Annual Alpha Southeast Asia Best Financial Institution Awards, and Best Managed Fund for Dollar Equity Fund for its BPI Global Equity Fund-ofFunds by the Chartered Financial Analyst Society of the Philippines. “We are motivated to do our best with the funds entrusted to us by Pag-IBIG Fund, knowing that we are part of a bigger advocacy to promote inclusive growth and greater financial inclusion,” said Tan. Pag-IBIG Fund remains to be one of the biggest government institutions in the country that address the basic needs of Filipinos through programs that make housing more accessible and affordable.

THIS year’s BMAP directors and officers are (from left) President Mike Villa-Real (Veterans Bank); Vice President Mary Ann Ducanes (Chinabank); Secretary Charina Balanquit (UCPB); Treasurer Emmanuel Mari Valdes (RCBC); Auditor Janette Abad Santos (Robinsons Bank); BSP Deputy Governor and Head of Supervision and Examination Sector Chuchi Fonacier; BSP Managing Director and Head, Inclusive Finance Advocacy Office and Financial Consumer Protection Department Pia Bernadette Roman Tayag, Director for Industry Relations and Banking Code and Financial Inclusions Catherine Rowena Villanueva (LandBank); Director for Programs Aileen Lamasuta (BPI); Director for Publicity and Digital Marketing Mai Sangalang (Standard Chartered Bank); Director for Ways and Means Hannah Regina Lopez (BDO); Director for Membership Judith Songlingco (PBB); and Chairman for Election Yayu Javier (Avanza Inc.).

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TheBroa

Business

Thursday, April 4, 2019

From condoms to false teeth: PHL trade in q By Jasper Y. Emmanuel Arcalas, Samuel Raphael Medenilla, Cai U. Ordinario & Elijah Felice Rosales

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ILIPINOS have exported smiles— literally. Data crunched by the BusinessMirror reveals that the Philippines has been exporting artificial teeth and other goods that allow the country to bite into markets traditionally dominated by food and semiconductors.

The country’s export bill of artificial teeth, for one, increased annually or had a compounded annual growth rate (CAGR) of 27.21 percent from 2008 to 2018. Last year, over 2.2 million pieces of artificial teeth, valued at $13.344 million, made their way to the world, including Germany and Japan. This figure was the highest volume exported in history by the Philippines. Topping the list of quirky goods flowing out of the country are wigs, false eyelashes, false eyebrows made from human hair and synthetic materials, and even human hair prepared for making wigs. On the other hand, topping the list of unusual goods flowing inside the country is condom as there’s no local manufacturer for the product despite the Philippines being a rubber-producing nation. Imports of reproductive health products, including condoms and pills, were constantly expanding at an annual growth rate of 22.20 percent.

Hair raising

PHILIPPINE Exporters Confederation Inc. (Philexport) President Sergio R. Ortiz-Luis Jr. said the country has long been a trader of quirky products, such as wigs and artificial teeth. In the 1990s Manila was a strong exporter of wigs, almost entirely produced in Bicol, he recalled. Back then, wig makers from Bicol were active members of Philexport, Ortiz-Luis said, adding that some of these members even took turns in heading the regional chapter of the group. “I know that we are doing it before [exporting quirky products], especially the wigs,” he said. “As early as the 1990s, we [were already] a strong trader of wigs.” Total exports of the product group last year reached $65.437 million, or 167 percent over the $24.494 million recorded in 2017, data crunched by the BusinessMirror showed. Export of these goods grew at an average of 15.07 percent annually from 2008 to 2018.

Japan: top market

DATA from the Philippine Statistics Authority (PSA) showed that Japan was the country’s top market both for human hair and false hair products. It is also the Philippines’s top market for needle exports. The export of needles, catheters, cannulae and the like had an annual average growth rate of 23.95 percent in the past decade. However, value of exports in 2018 fell by 6.58 percent to $52.432 million from $56.123 million in the previous year. Japan accounted for 95.7 percent and 54.3 percent of the country’s export bill for human hair and false hair and needles, respectively. According to Ortiz-Luis, while some wig manufacturers in the region continue to operate, most of them shut down shops over the years. This is the risk exporters have to face, he said, when their products are outside the mainstream pie of Philippine exports—that is, non-electronics, nonagricultural. There is a high possibility business could eventually lose market, and consequently shut down. “That [exporting nontradi-

tional products] is good if we can look for it [market]. Perhaps, it is a question of market—markets that are so small the government overlook them [because] there is not much prospect in those markets. Exporters really try to infiltrate the mainstream markets, so the marketing will not be too difficult,” he added.

Artificials, used clothes

THE value of artificial teeth exports rose by 120 percent year-onyear from $6.064 million in 2017, with Liechtenstein as the country’s top market at $6.709 million. Data from the PSA showed that Liechtenstein was the top destination of the country’s artificial teeth as it accounted for 50.3 percent of the total export receipt. Outbound shipments to the European nation last year reached $6.709 million and 1.254 million pieces. For “worn clothing and other worn articles,” however, Pakistan is the country’s biggest market. Total shipments last year reached $10.651 million or about 28.5 million kilograms. Pakistan is the top importer of our exports of worn clothing at $2.027 million followed by Hong Kong ($1.435 million) and India ($1.312 million).

Pampanga, Christmas

AND who would have thought that Pampanga, the country’s Christmas capital, is also considered as one of the world’s top sources of Christmas lights for the Christian celebration? The Observatory of Economic Complexity (OEC) reported that the Philippines is the fourth top exporter of Christmas lights in the world in 2017 at $16.1 million. The country is behind the Netherlands ($39.9 million), Cambodia ($41 million) and China ($1.12 billion), the OEC website shows. The OEC is an open source platform created by Massachusetts Institute of Technology Media Lab which tracks and visualizes world merchandise trade. In 2018, the Philippines exported 7.8 million kilograms (3.195 million in 2017) of Christmas lights valued at $38.661 million ($14.678 million in 2017). Pampanga accounts for 47.9 percent of the total Christmas lights shipments with export value in 2018 reaching $18.507 million. The United States cornered the country’s exports of Christmas lights with a 99.7-percent market share at $38.559 million in 2018, PSA data showed. It’s not just the lights that the Philippines is exporting, but also other “articles for Christmas festivities,” which include balls and other decors for Christmas tree. Last year, the country exported $12.304 million worth of Christmas decors with the US still as the top destination for the product at a 73.1-percent market share.

Perfumes, balls

THE Philippines also exports anti-perspirant products, including deodorants and perfumes, to the world. Shipments of these items reached $45.288 million last year, down by nearly 30 percent from $64.616 million in 2017.

The top markets for Philippine deodorant products are: Belgium ($10.89 million), United States ($5.02 million), United Arab Emirates (UAE) ($4.99 million) and Australia ($4.712 million). Malaysia is the country’s top destination for perfumes at $1.578 million followed by UAE ($382,565) and Sri Lanka ($213,733). Notably, the Philippines is also the third top exporter of lawntennis balls in the world with annual shipments amounting to $30 million, which is about 24 million pieces. According to a news report, tennis balls used by athletes like Andy Murray and Roger Federer in Wimbledon tourneys are from the Philippines. Around 97.3 percent of our lawn-tennis balls exports came from Bataan, where the Dunlop Slazenger factory, which supplies Wimbledown, is located.

Yearly imports

IN terms of imports, the quirky products BusinessMirror identified that entered the country and made it to our local markets is led by human and animal blood, including antiserum, and vaccines both for human and animals. Imports of these goods are valued at $260.338 million. More than half of the imports came from vaccines for human use ($160.935 million) followed by animal vaccines ($78.912 million). The Philippines also imports sanitary towels, tampons, and diapers. From 2008 to 2018, the imports of these goods grew at an annual rate of 15.70 percent. Last year, the Philippines purchased $206.185 million worth of these sanitary products. Imports of baby diapers and similar sanitary products ($171.216 million) accounted for 83 percent of the total imports while sanitary towels and tampons accounted for the remaining value at $34.968 million. China was the top source for both types of sanitary products, with an aggregated value of $130.397 million followed by Thailand at $33.789 million. The Philippines also purchases a significant amount of dental products, such as floss, toothbrushes and even toothpicks, from abroad. The aggregated import bill of these items reached $33.307 million last year, 71.11 percent over $19.465 million recorded in 2017. Last year, the country imported 20.407 million pieces of toothbrush. Surprisingly, one of the Filipinos’ weapons against the pesky mosquitoes are being imported: mosquito coil. Imports of anti-mosquito products, including coils and mats, reached $25.171 million last year with Indonesia as the top supplier with a 52.2-percent share ($13.132 million). Imports of katol, or mosquito coils, alone reached $13.132 million last year.

Birth control, cards

LAST year, the Philippines purchased $13.717 million worth of condoms and pills. Condom imports alone last year reached 49.886 million pieces (from 63.338 million pieces in 2017), valued at $5.157 million. The country is importing all its condom requirements. In fact, in 2017, the Philippine Rubber Research Institute (PRRI) pronounced it was on the hunt for investors who can manufacture other rubber-based materials, such as condoms. PRRI noted that the Philippines is “a viable and healthy market” for condom manufacturers due to its growing population. Thailand supplied 37.8 percent of our condom purchases last year at $1.951 million, which was about 6.825 million pieces. Another import that starts with C are cards; playing cards, in fact. Shipments of playing cards to

the Philippines grew at an average rate of 16.5 percent over the past decade with last year’s import bill reaching $16.07 million. That is about 11.312 million packs of cards entering the local market with Japan supplying over 64 percent of it (7.253 million packs).

Imported water

ONE of the imports the BusinessMirror noted was seawater, which some economists interviewed described to be “surprising.” The Philippines imports seawater despite its vast water resources. Last year the country imported $12.205 million worth of seawater or around 296.541 million kilograms. The imports were presumably used by the food and beverage sector (F&B) for its salt requirement as seawater is classified under salt products. Australia was the country’s top seawater supplier at $10.677 million. It’s not just seawater that we are purchasing abroad but also mineral and aerated water. Imports of these products last year rose to an all-year high of $11.667 million. The Philippines bought 44.582 million liters of mineral and aerated water last year. Indonesia was the country’s top supplier at $9.167 million followed by France at $1.459 million. Majority of motorcycle helmets are also imported, with imports reaching an all-time high as well last year at $10.698 million, which was about 2.430 million pieces. Around 68.4 percent of the country’s helmets purchase abroad

came from China ($7.318 million and 1.793 million pieces).

Reviewing factors

FORMER Tariff Commissioner George Manzano told the BusinessMirror the growth and development of these unusual exports could be affected by three things—base effects; the level of development of markets; and the retail demand for these products since they are mostly finished goods. In terms of base effects, Manzano said these exports could grow 200 percent but still have a value of P3 from P1. In contrast, major exports could reach P2.2 billion from P2 billion which only represents a growth of 10 percent. He added that because of this, many growth rates in terms of the value of the products were volatile. Manzano said another factor is the level of development of the countries of destination of these products. Very few of these products are exported to developing countries in Asia like Pakistan or parts of Africa. In some cases, Manzano said, the presence of Free Trade Agreements (FTAs) would come into play. One such FTA is the Philippines-Japan Economic Partnership Agreement (PJEPA), which allows trade between both countries to flow freely, without any tariffs. “A good number of these exports are directed to developed markets, not to Africa [or] Pakistan. [These] are being exported to US, Japan, Germany, and the Netherlands. Many of these countries [have FTAs with the Philippines such as the] Japan FTA [but] US and EU [Eurpean Union] do not have FTAs. To a [certain] extent, FTAs could have been instrumental [in unusual exports],”

Manzano said.

Tariff system

HAVING a preferential tariff system such as the Generalized System of Preferences (GSP) allows greater trade to happen between the Philippines and other countries, particularly the United States and the European Union. Manzano said tariffs play a role in exports for the Philippines because it “makes other countries less competitive.” Through a GSP or an FTA, products enjoy minimal or even zero tariff, making these goods cheaper at the export destination. The only danger is that GSP terms, for example, are extended with conditions making them temporary. The country nearly lost its GSP+ from EU, which were tied to meeting 27 international core conventions covering labor rights, human rights, good governance, and environmental concerns. Fortunately, the Philippines kept its GSP+ from the EU while its GSP from the US was recently extended for three years. The GSP+ with the EU covers 6,000 tariff lines while the US covers 5,057 products or 48 percent of US tariff lines. “[In the] US, GSP beneficiary gives a zero percent or reduced tariffs,” Manzano said. “So our products in the US market are in competition with other non-GSP products [making them more competitive].” Research by the BusinessMirror showed that the tariffs imposed on the identified “quirky” products range from zero to no more than 15 percent. Majority of the imports that come from countries that have free trade agreements (FTA) with the Philippines enter the local market

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Editor: Dennis D. Estopace | Thursday, April 4, 2019

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quirky goods bites wide into global market other perks these firms receive from the government. Incentives, Manzano said, give the Philippines an edge over its competition in the region. This allowed them to see and agree with “the math” of producing certain goods here. But this is not an assurance that the country is already winning over its neighbors when it comes to attracting investments. “The math” in the country may be favorable for one firm but not for another.

Yanking growth

TO date, Manzano said the country is still behind its Southeast Asian neighbors. In fact it has already been left behind by Vietnam whose foreign investments, and corollarily, its exports, are robust. But in general, having a multinational in the country is good for exports, at least for these kinds of products, given that they are more familiar with the regulations and specifics of the markets they are exporting to or selling to. In the case of needles, a Japanese firm located in Cavite is the one exporting mainly to the Japanese market. In terms of imports, Manzano said given the kind of goods being imported and the import sources, and the trade of these unusual products does not reflect any supposed shift in the United States’ trade, given that its exports to China and the Philippines both increased.

VITALIJ SOVA/DREAMSTIME.COM

Entry regulation

tariff-free. “The tariffs play a role in trade. [They] could make a country less competitive compared to other countries,” Manzano explained. “For example, countries with FTA with us have an advantage because they export at zero tariff. And when the tariff is zero across all countries, then it all boils down to costing: who produces and exports cheaper?” he added. The country’s tariffs and goods classification are enclosed in the so-called tariff book, which serves as a cornerstone in the Philippines engagement in international trade. Manzano, a former tariff commissioner, explains that the book is important so that the Philippines would have “concordance with other countries” in terms of trade. The country’s tariff book has 98 chapters, covering items from live animals to condoms and artificial teeth.

HS codes

MAJORITY of these goods are classified through the Harmonized System (HS) codes, which is being overseen by the World Customs Organization. Goods are given a set of digits to represent them in the international trade from 2 digits up to 10 digits. From the first digit until the six-digit classification, countries have the same classification. The eight-digit and 10-digit classification are optional but are finer disaggregation of commodities. “It is what you call classification. Every product has to have a number,” Manzano said. “What is common among all countries is the six-digit classification.” The Philippines has an eightdigit classification as a result of the

Asean Trade in Goods Agreement while its 10-digit classification is born out of its national policy. The tariff book, particularly the classification of goods, was the result of international trade, Manzano said. “It’s meant to facilitate international transaction—to describe items easily. It’s hard to describe a product through words due to the language barrier—everyone understands numbers,” he said. “It is also important you have a standard on products in case a trade dispute arises. You might be disputing over different products if you’re describing it through words. So, in disputes [people] can easily understand each other when… talking about the same numbers or HS codes,” he added.

Determined by volume

MANZANO said countries could create new tariff lines if its government deems an item to have its very own specification. “Every year there is a new product. Ten years ago or more, we did not have an MP3 player,” he explained. “The volume determines if a good warrants its own entry in the book.” In many instances, Manzano said, these products are final goods that no longer need further processing, such as tennis balls. This means that these goods are intended for retail consumption unlike semiconductors which are considered intermediate goods. This now affects the price elasticity of these goods. Price elasticity measures how responsive goods are to price. If goods are elastic, this means any change in price will significantly affect demand for a product but if these goods are inelastic,

their demand only changes slightly if there are price movements. “Most of these are consumer items. It’s final demand which means people who buy these go to retailers and not to factories unlike semicon [which fills] intermediate demand. [These are] assembled to produce another product,” Manzano said. “In this case, [these products] will have to be sensitive to the personal consumption expenditures of the importing countries and these are small products. I’m not sure, [maybe they are] elastic [which means] it is not easy to sell them,” he added.

Agreeing with math

MEANWHILE, another reason that would increase or decrease trade would be the decision of MNCs. Manzano said the presence of MNCs in certain countries affect the import and export of these locations. Their decision to locate to certain countries is dependent on factors such as labor and power costs. When they have decided on their locations, they can choose to turn this location into a regional hub. If a country is not chosen as a regional hub, the chances of receiving imports of products is greater given that the MNC is not located there. This is reflected in the labeling or instructions of use of certain products which are translated into several languages. This is common for products such as needles and catheters. Manzano said the presence of MNCs in economic zones is another factor why the country exports these products rather than a natural endowment of the country. The decision to locate in these economic zones could be dependent on the incentives and

IN some cases, Manzano said, imports of certain products were a result of the government’s policies and regulations as well as the decision of certain multinational corporations to distribute their products in the region. For example, the enactment of the Responsible Parenthood and Reproductive Health (RPRH) Law in 2012 has facilitated greater imports of contraceptives. Under the law, the government is tasked to provide condoms in health centers nationwide for free. The increase in the importation of condoms reflects government purchases as well as highlights the fact that the Philippines does not have any industry that manufactures these products locally and in large quantities. In terms of vaccines, the government has regular programs on vaccines for various diseases such as measles and dengue. The government, through the public school system and various health centers, provides free vaccination to school children. However, Manzano said, at some point, the purchase of these vaccines would tend to taper off as only members of the younger population will be the ones in need of vaccines. The rest of the population would only require some form of maintenance.

Laws, laws

MANZANO said government regulation is also the reason the country has been importing a lot of playing cards. In the 2009, the government opened gambling to foreign investors through the National Economic and Development Authority’s (Neda) revision of the Regular Foreign Investment Negative List (RFINL). This decision has allowed the construction of various casinos particularly in the Philippine Amusement and Gaming Corporation’s (Pagcor) Entertainment City in Manila. It has also recently allowed the entry of Play Free Online Games, which use playing cards for live games that can be viewed online. Further, the passage of the Motorcycle Helmet Act of 2009 required all motorcycle riders to wear protective helmets for their safety. This, Manzano said, caused an increase in the use or motorcycle helmets nationwide. Apart from the passage of the law, Manzano said practical reasons such as having a cheaper and faster mode of transportation can account for the increase in motor-

cycle helmet importation.

Income size

MEANWHILE, the presence of MNCs could explain the increase in imports of diapers; anti-mosquito products such as coils and pads; and toilet paper. It is possible that the foreign firms who manufacture these products are now located abroad and merely export their goods to the Philippines. Manzano said the absence or lack of mosquito coil and mat manufacturing firms may have increased the imports of these products. He added that the Dengue scare may have also prompted more households to purchase these items. The former tariff commissioner said diaper imports could also be increasing because of the increase in incomes of Filipinos and the convenience it offers families. Back in the day, cloth was used by babies but as diaper prices have declined and more family incomes rise, the demand for these products also increased over time. Further, the need for two income sources in running households have increased the demand for products that make life convenient and manageable, including baby and adult diapers. “These are all consumer products that are branded decisions by multinationals. [These are also] income elastic [since] per capita income increases [can allow families to] start buying these products. [They are paying for] convenience,” Manzano said. In terms of the imports of mineral and aerated water, Manzano said the explanation may also be similar with diapers, given that mineral water and aerated water are price-elastic and the purchase of which would usually indicate a rise in income. The only product that could not be explained by the economist from the University of Asia and the Pacific (UA&P) was seawater. It was simply a “surprise” for the former Tariff Commissioner that something as abundant as seawater is being imported by the Philippines, an archipelago that boasts of over 7,100 islands.

Just open up

ECONOMIST Ramon L. Clarete of the University of the Philippines (UP) thinks the government has to develop local industries first before seeking to expand its export portfolio. One of the steps the government can take, he said, is to remove restrictions on foreign investments to allow multinationals and offshore firms to pour in capital in the Philippines. “I am for freer trade. All those who are against it are just actually ruining the economy because it limits the possibilities that can be unfolded for investors and potential businesses in the country, and jobs also,” Clarete explained in a sitdown with the BusinessMirror. He argued foreign businesses will not only secure buyers for Philippine exports, but will also bring in the necessary technology to manufacture unusual products. “[We must] open the country to foreign investors. [Through this], we ease the financing and access to technology, and access to foreign materials that we do not have here will be eased, too. Domestic firms need not worry because foreign businesses will need a supply chain locally. Local investors will be involved in the process,” Clarete claimed. Further, he stressed the importance of export processing zones and free port areas, which provide locators fiscal and nonfiscal incentives for their investment activities. These incentives, however, are at risk of being lifted under the proposed Tax Reform for Attracting Better and High-quality Opportunities (Trabaho) bill. The measure seeks to cut corporate income tax to 20 percent by 2029 from 30 percent, but will overhaul incentives provided to firms operating in economic zones in exchange. Economic zone firms strongly

oppose the Trabaho bill, as it will force them to relinquish incentives they deem crucial for staying here, such as the 5 percent tax on gross income paid in lieu of all local and national taxes. “There will be no import duties, no value added tax [because] you are emulating a free trade country in special economic zones. If that particular product requires an imported material or a technology that is imported, maybe they are there because of the economic zones,” Clarete said. The UP economist added some provinces specialize in the production of certain exports because it is part of their competitive advantage.

Advantageous for growth

TAKE Pampanga as an example. According to PSA data, Pampanga accounted for nearly half of the country’s total exports of Christmas decors and lights last year, with a sum value of $24.55 million. “We have known Pampanga to have the skills in building Christmas lanterns, and in the process of building those lanterns, they have also built the Christmas lights and decors. Compared to other provinces, they have a concentration of those skills. They may have concentration of skills that give them the comparative advantage,” Clarete said. “Any location will have a comparative advantage in making a product better than others because the endowment of skills is specific to them,” he added. Unless local industries are developed, Clarete argued the Philippines will have a hard time keeping its exports of nontraditional products at significant volumes. He said the government should ensure the country maintains its competitive advantage on those commodities, or else markets will be lost in the way. “What the government can do is to make sure that the policies are supportive of private sector coordination, and trade would be important [in that aspect],” he said.

Hopes, HHI

MEANWHILE, whether imported products could pave the way for sunrise industries, Manzano said, it would be difficult, considering that most of these unusual products are being imported out of policy. If the policy changes, firms that invested in their production could suffer losses. However, Manzano said one product that has the potential to become a sunrise industry is the manufacture of motorcycle helmets. While this was borne out of government regulation, it is undeniably a need given the rise in motorcycle purchases due to congestion. One thing is definite as of now—exports are diversifying. Manzano said based on the Herfindahl-Hirschmann index (HHI), which measures market concentration, the Philippines has already diversified its products. He said the index, which can range from zero to 10,000, shows that the Philippines already increased its products from the initial story of having only two to four products, which include sugar and coconut. “Over the years, we have been diversifying. In the early days, we only had four main products, sugar and copra; maybe banana [is included]. But then we have diversified into manufactured products and now we have service exports from BPOs,” Manzano said. For Ortiz-Luis, the government must iron out FTAs first before venturing into exporting other nontraditional products. He said trade deals secure exporters of market, and that they are most likely for the long run provided the near permanent contract under FTAs. Trade deals, he added, ensure the market is checked and assessed first if it is a viable landing spot for the country’s exports, both mainstream and quirky. “I think we have to look at the prospect [first because] if the market is too small, it might not be worth it,” Ortiz-Luis said.

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Thursday, April 4, 2019

The World BusinessMirror

Trump team, China resume uphill effort to end trade rift

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ASHINGTON—The Trump administration on Wednesday will resume negotiations with China toward ending a trade war that has deepened uncertainty for businesses and investors, and dimmed the outlook for the global economy. The two sides are to meet for the ninth time, with analysts expressing optimism that the world’s two biggest economies might be near some kind of agreement. Negotiators met in Beijing last week in talks that Treasury Secretary Steven Mnuchin described as “constructive.” Now, Vice Premier Liu He, a close confidante of President Xi Jinping, is leading a Chinese team to Washington. “We have been encouraged by the tone of the negotiations,” Myron Brilliant, head of international affairs at the US Chamber of Commerce, told reporters on Tuesday. Brilliant estimated that the two sides are 90 percent of the way to an agreement but cautioned that “the last 10 percent is the hardest part, the trickiest part.” At the heart of the dispute are the Trump administration’s allegations that China steals technology and coerces US companies to hand over trade secrets—all part of Beijing’s zeal to overtake US technological dominance. To pressure China, the United States has imposed tariffs on $250 billion in Chinese goods. The Chinese have counterpunched by taxing $110 billion in US imports.

Forecasters at the World Bank and International Monetary, among others, have downgraded their outlook for the global economy, partly because the US-China rift is damaging trade and causing businesses to slow their investment until they know how the dispute will end. Tensions have eased somewhat since President Donald J. Trump met Xi in Buenos Aires late last year and the administration ended up suspending its plans to raise tariffs on $200 billion of the Chinese imports to buy time for negotiations “We’re making headway,” Larry Kudlow, Trump’s top economic adviser, said on Tuesday, describing the talks as “a larger, grander discussion than anything we’ve ever had in USChina relations.” Analysts say two major sticking points, in particular, stand in the way of any agreement. First, Trump wants to preserve at least the 25-percent tariffs he has imposed on $50 billion in Chinese imports as a way to maintain leverage over Beijing. China wants those sanctions lifted. Second, the two sides must develop a mechanism to ensure that China honors any commitments it

IN this March 28, 2019, photo, President Donald J. Trump talks with reporters before boarding Marine One on the South Lawn of the White House in Washington for the short trip to Andrews Air Force Base in Maryland. The Trump administration will resume negotiations with China toward ending a trade war that has deepened uncertainty for businesses and investors, and dimmed the outlook for the global economy. AP/SUSAN WALSH

makes in an agreement. The administration complains that China has repeatedly failed to keep promises it made in previous trade talks. The Chinese are widely expected to agree to buy substantially more American products—likely including soybeans and natural gas—to help narrow the United States’s trade deficit in goods and services with China, which hit a record $379 billion last year. America’s trade deficit with China has been a chronic complaint of Trump, although many economists say a bilateral trade gap is relatively insignificant. Congressional Democrats and others have warned Trump against reaching any agreement that settles for more US exports to China without also requiring Beijing to adopt serious economic reforms. “Stand firm” Senate Minority Leader Chuck Schumer, D-N.Y., said on Tuesday. “Skip the political photo op and make good

on your promise to stand up for American businesses and workers when China takes advantage.” Christopher Adams, a former China specialist at the Treasury Department and the Office of the US Trade Representative who is a senior adviser at the Covington & Burling law firm, added: “There has to be something substantive on the structural issues. Otherwise, the criticism will be severe.” Whatever negotiators agree to, analysts say, they are unlikely to end the long-standing tensions between America’s mostly open, capitalist economy and a Chinese economy in which the Communist Party and the central government command the dominant role. Even with a deal, Adams said, “a lot of the underlying issues will still be with us unresolved because they’re rooted in fundamental differences between the US and Chinese systems.” AP

May: UK to seek further Brexit delay, try to break logjam

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ONDON—With Britain racing toward a chaotic exit from the European Union within days, Prime Minister Theresa May veered away from the cliff-edge on Tuesday, saying she would seek another Brexit delay and hold talks with the opposition to seek a compromise. May made the announcement after the EU’s chief negotiator warned that a disruptive and costly Brexit was likely unless Britain broke the impasse that has paralyzed the government and Parliament. After failing repeatedly to win Parliament’s backing for her Brexit blueprint, May said the country needed “national unity to deliver the national interest.” Following the defeat of the government’s plan and a range of lawmaker-written alternatives, May said Britain would need a further delay to its EU departure, currently scheduled for April 12. She offered to hold talks with opposition Labour Party leader Jeremy Corbyn in an attempt to find a compromise solution. “This debate, this division, cannot drag on much longer,” May said in a televised statement from 10 Downing St. after an all-day Cabinet meeting. European Council President Donald Tusk gave a cautious welcome to May’s change of course. “Even if, after today, we don’t know what the end result will be, let us be patient,” he tweeted—a suggestion the EU would wait for Britain to present a clear plan. Earlier, EU negotiator Michel Barnier offered a downbeat assessment of the situation.

BRITAIN’S Prime Minister Theresa May gives a press conference outside Downing Street in London on Tuesday. May said she will seek to further delay Britain’s exit from the European Union and seek to make an accord with the political opposition in a bid to break the Brexit impasse. JACK TAYLOR/POOL PHOTO VIA AP

“As things stand now, the nodeal option looks likely. I have to tell you the truth,” Barnier said in Brussels. Barnier said “we can still hope to avoid it” if London produced a breakthrough before an April 10 EU summit. The leaders of the EU’s 27 remaining countries have given the UK until April 12 to leave the bloc or to come up with a new plan, after British lawmakers thrice rejected an agreement struck between the bloc and May late last year. The House of Commons has also failed to find a majority for any alternative plan in two days of voting on multiple options. May’s statement came after a seven-hour meeting of her fractious Cabinet, which is split between supporters of a “soft Brexit” that keeps close economic ties with the EU, and Brexiteers who believe a no-deal exit is better

than compromising. May’s words seemed to indicate that she was veering away from the possibility of a no-deal Brexit— but also that she has not given up on her own unloved withdrawal agreement. Her plan is to seek approval for the legally binding agreement— which sets out in detail the terms of Britain’s departure from the EU—after securing cross-party political support for a vision of future ties between the UK and the bloc. If she and Corbyn fail to reach agreement, May said Parliament would get to vote on a range of options—and the government would be bound by the result. It is the first time she has committed to following the instruction of lawmakers. May didn’t indicate how long an extension she would seek from the EU, though she said she hoped

Britain could pass the agreement by May 22, in time to avoid participating in elections for the European Parliament. Corbyn said he would be “very happy” to sit down with May, even though “so far she hasn’t shown much sign of compromise.” Corby n said Labour would present May with its conditions for Brexit, which include a close economic relationship with the bloc through a customs union, maintaining high environmental standards and protecting workers’ rights. May’s move infuriated proBrexit politicians, who say Britain must cut ties to the EU in order to forge an independent economic policy. “I think people will feel very short-changed,” said former Foreign Secretary Boris Johnson, a prominent pro-Brexit voice in Parliament. But May’s words brought relief for those who fear the effects of a no-deal Brexit, which would complicate trade and travel, with new checks on borders and new regulations on dealings between the EU and Britain. Businesses have warned that the economic impact in Britain could be devastating. Ford of Europe Chairman Steven Armstrong said “a no-deal Brexit would be a disaster for the automotive industry in the UK” Edwin Morgan, interim director general of business group the Institute of Directors, said May’s statement was “a welcome step toward compromise,” though there remained obstacles ahead. AP

Editor: Angel R. Calso

Oil rises to highest this year as Opec curbs stoke optimism

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RUDE advanced to the highest this year after a further reduction in supply from Opec signaled that global markets are tightening. Fu t u re s i n N e w Yo r k a d d e d 1 . 6 percent on Thursday to close at t h e h i g h e s t l e ve l s i n c e N o ve m b e r. Declines in Opec production are stoking optimism among investors as Saudi Arabia presses on with output curbs and power blackouts in Venezuela fur ther squeeze supplies. Oil held its gains despite an industr y repor t showing an unexpec ted jump in US supplies last week. “The fundamentals that drove us on Tuesday—the Opec production numbers falling, Venezuelan production issues, strong manufacturing numbers and lower US production—all of that is conspiring to take prices higher,” said Phil Flynn, senior market analyst at Price Futures Group Inc. in Chicago. Oil has rallied more than 30 percent this year as Saudi-led production cuts, together with receding fears over the global economic growth outlook, appear to be easing investor concerns. West Texas Intermediate for May

delivery climbed 99 cents to settle at $62.58 a barrel on the New York Mercantile Exchange. It was at $62.55 a barrel in trading after the close at 4:52 p.m., despite an American Petroleum Institute report that was said to show a 3 million-barrel increase in US crude inventories. Brent for June settlement added 36 cents to end the session at $69.37 a barrel on the London-based ICE Futures Eu ro p e e xc h a n g e a n d a d v a n c e d t o $69.43 after the API repor t. The global benchmark crude’s premium over WTI traded at $6.76 a barrel at the close, the smallest gap since August. If the rise in US stockpiles is confirmed by government data on Wednesday, it would be the second increase in a row and challenge assumptions that supplies are thinning. It would also contradict the 900,000-barrel drawdown forecast by a Bloomberg survey of oil analysts. Oil supplies may be even harder to predict than usual this week, after disruptions in the Houston Ship Channel late last month wreaked havoc on imports and exports. Parts of the shipping lane were closed following a fire at a chemical storage complex. Bloomberg News

Wildfires thicken air over Northern Thailand into planet’s most toxic

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O P Asian finance ministers and central bankers are due to have a summit in Northern Thailand this week, and they’ll need pollution masks if they want to avoid breathing toxic air. Wi l d f i re s a n d c ro p b u r n i n g a re b l a n ke t i n g t h e re g i o n w i t h s m o g, prompting Thailand’s junta leader Prayuth Chan-Ocha to fly to Chiang Mai—the area’s tourist hot spot—early on Tuesday to review the crisis. The city’s air quality index was 379 as he visited, the worst major urban reading globally and a level that’s hazardous, according to IQAir AirVisual pollution data. The air was classed as unhealthy in nearby Chiang Rai, where finance ministry officials and central bankers from Southeast Asian nations, as well as China, Japan and South Korea will meet from Tuesday through Friday. The Bank of Thailand has said it will hand out pollution masks to media covering the event. Thai authorities blame crop burning to clear farmland, as well as wildfires in mountainous forests amid a drought and searing heat. Chiang Mai has set up

a so-called safe zone for residents in a convention center, while a university in Chiang Rai canceled classes on Monday and Tuesday. “The haze usually comes and goes within a week or two, but it’s been persistent this time— it’s the worst so far,” Khuanchai Supparatpinyo, the director of Chiang Mai University’s Research Institute for Health Sciences, said in an interview. “This can be quite dangerous, and pose health risks.” No r t h e r n Th a i l a n d i s a p o p u l a r destination for visitors during the traditional Thai New Year festival in midApril but the smog is likely to make some holidaymakers think twice. At the start of 2019, the military government was rattled by a second year of spiking seasonal air pollution in Bangkok, exacerbated by traffic fumes, industrial emissions and construction dust. So far the episodes of smog haven’t damaged tourism but worsening haze could pose a challenge for an industry that’s key to economic growth. Bloomberg News

Trump wants Nato members to keep raising defense spending

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ASHINGTON—President Donald J. Trump praised Nato countries for increasing their financial contributions to the Western alliance, but he hounded them to pay even more, saying America still shoulders a disproportionate share of the cost of protecting Europe. The president met on Tuesday with Nato Secretary-General Jens Stoltenberg, who was in Washington to mark the 70th anniversary of the organization formed to counter Russian aggression. The two leaders had kind words for one another. But in the past, Trump has called Nato “obsolete” and suggested he might pull the US out of the alliance if member-nations didn’t significantly boost their defense spending. “We’ve worked together on getting some of our allies to pay their fair share,” Trump told reporters. “At some point, it’s going to have to go higher.” Trump took credit for the increased spending. However, spending by the 29 Nato countries, which dropped after the end of the Cold War, has actually been rising since 2014—before Trump took office. “Prior to our getting here, Nato’s spending was going way, way down,” he said. “It was just a one-way road down. And since I became president...it’s been a rocket ship up, and we have to keep it that way.” After Russia’s 2014 annexation of Ukraine’s Crimean Peninsula, membercountries agreed to boost defense budgets

and “move toward” spending 2 percent of their gross domestic product on defense by 2024. The US spends about 3.4 percent of its GDP on defense. Since Trump took office, European allies and Canada have added $41 billion to their defense budgets. By the end of next year, this will rise to $100 billion, Stoltenberg said. Germany, however, remains the main target of Trump’s ire because it now plans to spend 1.5 percent by 2024, which is lower than the 2 percent guideline. “Germany is not paying their fair share,” Trump said. “I have a great feeling for Germany, but they’re not paying what they should be paying. We’re paying for a big proportion of Nato, which is basically protecting Europe.” Stoltenberg has said that the 2 percent guideline was not invented by the United States and was a target the 29 allies set in 2014 before Trump took office. But he thanked Trump for his “strong commitment to Nato” and for his leadership in getting member-nations to increase their commitments. “The allies are really stepping up,” Stoltenberg said in an interview later with The Associated Press. “The clear message from President Trump has helped—is having a real impact. And this is about doing what Nato allies have pledged to do. We still have a long way to go—much to do—but we have really seen very strong progress in defense spending from Nato allies.” AP

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New Zealand lawmakers pass initial vote for new gun controls

Thursday, April 4, 2019

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India election body struggles with scale of fake information

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HIMTAL, India—When India’s Election Commission announced last month that its code of conduct would have to be followed by social-media companies as well as political parties, some analysts scoffed, saying it lacked the capacity and speed required to check the spread of fake news ahead of a multiphase general election that begins on April 11.

POLICE Sr. Sgt. Paddy Hannan shows New Zealand lawmakers in Wellington on Tuesday an AR-15 style rifle similar to one of the weapons a gunman used to slaughter 50 people at two mosques. New Zealand lawmakers on Tuesday voted overwhelmingly in favor of new gun-control measures during the first stage of a bill they hope to rush into law by the end of next week. AP/NICK PERRY

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ELLINGTON, New Zealand—New Zea land lawmakers on Tuesday voted over whelmingly in favor of new gun restrictions during the first stage of a bill they hope to rush into law by the end of next week. The bill would ban the types of weapons a gunman used to kill 50 people at two mosques last month. The bill was backed by both liberals and conservatives, with only a single lawmaker from the 120 that sit in Parliament voting against it. The vote was the first of three that lawmakers must pass before the bill becomes law. Police Minister Stuart Nash said far too many people have access to dangerous guns, and lawmakers were driven by the need to ensure public safety. “We are also driven by the memory of 50 men, women and children who were taken from their loved ones on the 15th of March,” Nash said. “Their memory is our responsibility. We don’t ever want to see an attack like this in our country again. We are compelled to act quickly.” Seemingly drawing a distinction with the US, where gun possession is constitutionally protected, Nash said that in New Zealand, gun ownership remains a privilege and not a right.

Conservative lawmaker David Seymour voted against the bill, saying it was too rushed. “Doing it in nine days before politicians go on their Easter break is starting to look more like political theater than public safety,” he said. But Seymour was so busy explaining to reporters his reasons for opposing the bill that he missed a procedural vote in which he could have tried to slow its passage. Many New Zealanders were shocked at the firepower the gunman was able to legally obtain and favor the legislative changes. Some are opposed. More than 14,000 have signed a petition filed in Parliament, which says the law changes are “unjust” for law-abiding citizens and are being driven by emotions. The bill would ban “militarystyle” semiautomatic guns and high-capacity magazines. It would also ban semiautomatic shotguns that could be fitted with detachable magazines and pump-action shotguns that can hold more than five rounds. The bill wouldn’t ban guns often used by farmers and hunters, including semiautomatic .22-caliber or smaller guns that hold up to 10 rounds, or shotguns that hold up to five rounds. AP

Just weeks later, the commission is indeed struggling to cope with the fake news swirling on Facebook, WhatsApp, YouTube, Twitter and other platforms, and even for its staff to spot it before it has spread across India, observers said on Tuesday. “Millions of voters are waking up to fake news, propaganda and hate speech inciting violence against Muslims and other minorities every day. But all the commission can do is monitor it,” said Apar Gupta, a lawyer and executive director of the Internet Freedom Foundation. Given the findings that Russia used Facebook to influence the US election in 2016, India’s Election Commission should have been better prepared, Gupta said. Alarmed at the surge in misinformation, Facebook said on Monday that it was removing hundreds of pages and accounts because “we don’t want our services to be used to manipulate people.” WhatsApp on Tuesday unveiled a helpline called Checkpoint Tipline on which people can check the authenticity of information they receive. Examples of fake political news in India on social media abound. An India page on Facebook claimed that Sonia Gandhi, the ex-president of the Congress Party and mother of Rahul Gandhi, the party leader, is the country’s fourth-richest woman. Another fabricated image showed the Pakistani flag being waved at Rahul Gandhi’s election rallies. Yet an-

other purported to show a photograph of Rahul Gandhi’s sister Priyanka Gandhi Vadra wearing a cross around her neck, intended to malign her as a non-Hindu. Other social-media messages and images depicted Prime Minister Narendra Modi in a poor light or as a sinister force. Facebook said it had removed 687 pages or accounts that “engaged in coordinated inauthentic behavior” linked to the Congress Party. The scale of the propaganda, false information, manipulated photos and fake videos may have something to do with the scope of India’s general election. The outcome of 879 million Indians voting over five weeks starting next week is being seen by some as a watershed moment that could fundamentally alter the ethos of Indian society. Modi’s ruling Bharatiya Janata Party hopes for a second term to consolidate its pro-growth, majoritarian policies. The opposition Congress is desperate for a revival in its fortunes after a long period of a declining voter base. With many politicians convinced the election is going to be fought on WhatsApp, political parties have created WhatsApp group chats to spread their message. Reports in the Indian media say that the BJP plans to have three WhatsApp groups for each of India’s 927,533 polling booths—or 2.8 million WhatsApp groups in all. With WhatsApp recently limiting group members to a maximum

AN elderly supporter of ruling Bharatiya Janata Party (BJP) smiles a he attends an election campaign rally addressed by Indian Prime Minister Narendra Modi in Hyderabad, India, on Monday. India’s general elections will be held in seven phases starting on April 11. AP/MAHESH KUMAR A.

of 256, the forum’s group chats could potentially reach millions of voters. For the Commission, fake news presents a huge challenge. India has 1.14 billion cell-phone connections. Around 240 million Indians use WhatsApp. Facebook has over 300 million users in India, more than any other country. In India, rumors present a real threat. In 2018, more than 30 people were lynched by mobs acting on rumors spread on WhatsApp. In response, the messaging platform limited the number of people that messages could be forwarded to in India to five from the earlier 20. But experts say that all this has meant is that the number of small groups has proliferated. For Gupta, the Election Commission’s methods for tackling fake news are woefully inadequate. “The mechanism they have set up is that if they see any fake news, they will request the Internet and Mobile Association of India to contact Facebook or YouTube and ask them to take it down. The Association then requests the platforms to do this. This is ludicrously slow,” said Gupta. Last month, Facebook, Google, Twitter, WhatsApp and ShareChat agreed to adhere to a voluntary code of ethics in collaboration with the Election Commission to curb the menace of fake news, promising to take down any deliberately misleading information within

three hours. Palash Goorha, business director of social-media analytics firm Konnect Insights, said this agreement alone was a novel and useful initiative for India’s general election—the world’s biggest democratic exercise. He expects it will be watched closely by other governments. “It’s the first time for such an agreement. After the Trump election, Facebook is being proactive, and it’s good that everyone else signed up to this. Yes, the commission is learning on the job. Yes, it will learn the hard way. But it’s a start,” Goorha said. But according to Ankit Lal, head of social media with the Aam Aadmi Party, which rules New Delhi, the commission should have engaged all the parties concerned, including those who work in public policy in this field, much earlier to grasp the sheer scale of the problem and devise more concrete steps to tackle it. “For an organized and concerted effort, the commission should have been actively engaged both with the social-media companies and other groups who know much more about it than it does, long ago,” Lal said. “You can’t get ready for such a mammoth exercise in a few months. At present, it seems more concerned about being seen to be effective than actually being effective in preventing fake news influencing this election.” AP

U.S. AID CUTS WILL SPUR CENTRAL AMERICA MIGRATION, EXPERTS SAY S A N S A LVA D O R , E l S a l v a d o r — Government officials, aid workers and activists in Central America are mystified by US President Donald Trump’s threat to cut off nearly $500 million in aid to Honduras, Guatemala and El Salvador in response to what he calls an immigration crisis. Over time, they say, it will only worsen the problem. At risk of falling on the chopping block are development programs that work to tackle the root causes driving migration: poverty, inequality, violence and corruption. These include outreach to at-risk youth to combat forced gang recruitment, as well as programs to address gender-based violence and suppor t education, work-force development and the uphill fight to root out endemic graft. “It’s illogical and it’s irresponsible.... You’re talking about long-term challenges that are going to require long-term, sustainable solutions,” said Adriana Beltrán, a Central America specialist at the Washington Office on Latin America. “So rather than helping to stabilize the situation and try to address these longterm challenges, the cut in assistance will only make the situation worse.” “Gutting important programs,” she added, “will eventually lead to more migration, more insecurity, more corruption, more impunity in these countries.”

It’s still not clear exactly what, when or how much could be cut. Trump said last week that “we were paying them tremendous amounts of money, and we’re not paying them anymore because they haven’t done a thing for us,” and mentioned a figure of $500 million. State Department Spokesman Robert Palladino said on Tuesday that the amount affected by any aid cut would be $450 million from fiscal year 2018, as well as an as yet undetermined amount from 2017. “The president has made clear that the decision is aimed at securing the United States borders and protecting American citizens,” Palladino said. “These programs have not effectively prevented illegal immigration from coming to the United States, and they’ve not achieved the desired results.” The aid is meant to promote democracy-building, good governance, trade, agriculture, education, health, public safety and law enforcement. Experts say all of those areas play a direct role in whether people feel they can get by or even survive in their home countries. Reaction from the three governments has been muted so far, perhaps for fear of angering Trump. B o t h Ho n d u ra s a n d El S a l va d o r pointedly said they had not been formally notified of any specific cuts in US aid.

IN this October 27, 2018, file photo, members of a US-bound migrant caravan stand on a road after federal police briefly blocked their way outside the town of Arriaga, Mexico. Activists, officials and social workers in Central America were staggered by the idea that US President Donald J. Trump thinks he will help reduce immigration by cutting off nearly $500 million in aid to Honduras, Guatemala and El Salvador; exactly the opposite will happen, they say. AP/CHARLIE RIEDEL

Honduran Defense Minister Fredy Díaz said cooperation with the United States on security is “unchanged,” while the Foreign Ministry said in a statement that the relationship has been “solid, close and positive.” Salvadoran Vice President Oscar Ortiz said on Tuesday that an aid cut would not solve the migration problem but have the

opposite effect. “The best way to tackle the issue of migration ... is not with this type of decision,” he said. “The best way to tackle the issue is to keep working together.” Guatemala, the source of much of the recent migration from the region, was particularly circumspect, with presidential spokesman Alfredo Brito saying simply that the official response was not to comment

for the time being. But those carrying out the boots-onthe-ground work are concerned. Rick Jones, who works in El Salvador as the youth and migration policy adviser for Catholic Relief Services, counsels young people to keep them out of gangs and help them get jobs. He also runs behavioral therapy for inmates to deter them from returning to crime—all things that have “a positive impact to help guys think about and change their behavior,” he said. It’s seen as unglamorous but badly needed work, especially in a place like El Salvador, which has a homicide rate that is among the world’s highest at more than 50 per 100,000 people last year. But all $38 million that Catholic Relief Services gets from US government agencies to run programs in the three countries—including ones on education and jobs—could disappear if the cutoff goes through. If that happens, “it will be sending the message, ‘Help is not on the way... and you’re going to be left on your own,’” Jones said. “And basically people left on their own are going to be more desperate and more people are going to leave.” Likewise, Vicki Gass, Oxfam America senior policy adviser for Central America and Mexico, said that axing funding for programs that have been running for years,

would, in many cases, “waste US taxpayer dollars that have already been invested” and “foster the same instability that is making people flee in the first place.” Some government programs aimed at persuading Central Americans not to emigrate have been put in place, in part in response to Trump’s earlier criticism about the migrant caravans that brought thousands trekking toward the US border, and the threatened aid cutoff does not take that into account, officials say. “This goes against what we have seen in reports that show there have really been some decreases in migration, and that they are the result of the efforts being made on this issue,” said lawmaker Yanci Urbina of the left-leaning FMLN party in El Salvador, the least populated of the three countries and a distant third in terms of how many migrants are heading for the US. Salvadoran Treasury Minister Nelson Fuentes said US aid in his country includes $20 million in technical and fiscal funding over five years, and the government has not gotten word of any cuts. Another $200 million to spur growth and employment is managed in tandem with the World Bank, and it remains to be seen whether this will be reduced. Finally there are direct donations from Washington to the Salvadoran government and private organizations. AP

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EDUCATION FOR YOUTH AT THE CORE OF NGCP’S THRUST HILTON PROPERTY CONRAD MANILA JOINS GLOBAL EARTH HOUR MOVEMENT

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N its continued thrust to empower the less fortunate and enable a brighter future for the next generation, transmission-service provider NGCP partners with the Dualtech Training Center in providing scholarship for the underprivileged youth. Under a memorandum of agreement signed between officials of NGCP and Dualtech, NGCP will provide for the needs of 10 chosen scholars who will undergo a specially designed training course by Dualtech, including tuition fees, board and lodging, and miscellaneous fees. These scholars will undergo a six-month electromechanics-technology course, which will teach them current technologies and how to apply these in real-life scenarios. This will also open more opportunities for learning in operating electromechanical machines and other latest innovations in electronics. “It is our hope that, by the end of the course, we have made a substantial contribution to these students and to their communities,” the company says.

Dualtech is a private vocational school established in 1982, which adopts a German teaching model of training students in real-life scenarios. Its advocacy of training young people from marginalized sectors, an initiative in line with NGCP’s thrust, became one of the factors that made the partnership with NGCP possible. “We are very happy to partner with DualTech, as we hope to bridge the gap between [the] underprivileged [yet] deserving young students, and quality training and education, which will equip them with new skills and knowledge,” the NGCP adds. Aside from its educational advocacy, the NGCP also covers strengthening local industries such as weaving, environmental preservation efforts for ecosystems and wildlife, disaster-preparedness training for disaster-prone communities and medicaldental missions across the country. NGCP President Anthony L. Almeda (in photo, third from right) signs the memorandum with the Dualtech Training Center to provide scholarship opportunities for underprivileged youth.

EASTERN COMMUNICATION DONATES EDUCATIONAL FUND TO NON-GOVERNMENTAL GROUP

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ASTERN Communications, one of the country’s premier telecommunications companies, recently donated P100,000 to Humanility to continue promoting education among the youth. The donation was made on the second year of Eastern Communications’ Eastern Link VIP club night at the Manila Hotel. Providing compassionate care, and sustainable economic and educational assistance, Humanility is a non-governmental organization aiming to emancipate and empower victims of poverty and children at risk. “One of Eastern Communications’ purpose is to bring back the human connection in everything that we do and that includes reaching out to others in our community. We [have] partnered with Humanility, because we share the same cause and believe that

we can empower less fortunate children through education,” said lawyer Aileen Regio, Eastern Communications cocoordinator. Eastern Communications is one of the country’s premier providers of innovative and reliable connectivity products and services. With their unique brand of being both “High Tech” and “High Touch,” the company further nurtures creativity and entrepreneurship among children, and creates the country’s next generation of business leader and artists. In photo are (from left) Regio, Ramon Aesquivel with Humanility founder and Vice President Bryan Thomas, global representative for the Philippines Gail Macapagal, social workers Christine Poliran and Cherry Sumeli, and board of director Randy Knutson at the donation turnover.

SHAKE THOSE FATS OFF! The Philippine Chamber of Commerce and Industries Cavite Inc., through the effort of President Virgilio C. Hernandez II, held a meaningful outreach party at Barangay Bayan Luma IV, Imus, Cavite, on March 23. The so-called The Purple Party: Todo SaGANA sa SAYA! kicked off with a dance-fitness party along with the only “Dance Fitness Diva” Regine Tolentino; continued the day with fun-filled and exciting on-stage games, raffle prizes, activities and game booths; and ended with a free on-site consultation to children and the elderly of the said barangay. Also introduced on the event were purple tagged brands, such as Propan TLC, Propan FIT and Flanax, presented by Evensia Events Management. In photo are (from left) dance fitness instructor and program director Allen Villanueva, Tolentino, Hernandez, Evensia Events Management managing director Carol Ordañez and 4.0 Zero Events Management’s President Martin Canate.

ONRAD Manila celebrated this year’s Earth Hour with a series of hotel activities on March 30. The hotel has been taking action locally to conserve energy and help raise awareness of climate change, joining a global initiative for Hilton International’s more than 4,900 properties across 104 countries and territories. Conrad Manila guests and team members celebrated the Earth Hour with a symbolic formation of an expansive “60” candlelit at the hotel veranda. Operations director Emile Otte, commercial director Michael Albaña and human-resource director Au Aceveda led the symbolic ceremony to engage the next-generation earth savers. Paolo Pagaduan, project manager for Forests for Water program of the World Wildlife Fund, lent a united voice at the ceremony, to take action to protect the earth. In 2015 Hilton and WWF announced a multiyear commitment to collaborate on a water-stewardship strategy, expand sustainable seafood efforts, advance food-waste efforts and accelerate the

adoption of renewable energy across Hilton’s portfolio. At t he l ights - of f ceremony, prominently revealed was the giant “100” marker symbolizing Hilton International’s 100th anniversary. Check-in guests were invited to switch off their room lights from 8:30 to 9:30 p.m. The hotel’s backof-house facilities also took part to the hourly event.

“Hilton views sustainability as a key part of our business. Water, energy, food, commodities, waste and other factors significantly impact the economics of the company’s business every day around the world. For this reason, preserving the environment is a business imperative and a cornerstone of ‘Travel with Purpose’, our shared value for team members, guests, business partners and communities....,” Aceveda said.

NESTLÉ PHILIPPINES EXECUTIVE CONFERRED WITH MANSMITH AWARD

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OSA Simba, food and dairy culinary business executive officer of Nestlé Philippines Inc., was conferred with this year’s Market Masters award by Mansmith a nd Fie lders, i n re cog n it ion of her outstanding per for mance in the field of marketing; and of her successf u l Ma nsm it h mentor ing through consumer marketing team lead for dairy and Vice President Kakam Gabunada. She received the award in ceremonies held on March 1 at the Edsa Shangri-La. Rosa joined three other outstanding marketers who received the same honor, namely, Google Philippines countr y head Ken Lingan, Max’s Group President and Chief Executive Officer Robert Trota and Dragon Edge Group CEO Dennis Balajadia. In choosing Rosa to receive the award, Mansmith cited the growth of Rosa’s career in Nestlé spanning over two decades, where she rose

from being assistant brand manager to business e xecutive of f icer to senior vice president, highlighting how she effectively spearheaded the tur naround of the Nest lé food business in Malaysia and the Philippines. One d r iver of t he success in the Philippines was the successful launch of Maggi Magic Sarap, now the leading all-in-one seasoning granule. The award also acknowledged Rosa’s keenness in developing individuals across her team as evidenced in her mentoring of Kakam. “Being authentic and striv ing to turn your challenges into your finest hour are two of my most f av o r it e l e s s o n s i n l e a d e r s h i p. As Winston Churchill has put it: ‘Success always demands a greater e f f o r t .’ M e n t o r s h i p , l i k e w i s e , demands effort, authenticity and genuine care. As we mentor young talents, we are making a difference not only in business, but also in our

mentee’s lives,” Rosa said in her acceptance speech. The company believes in holistic development that includes education via classroom sessions, and an even h e a v i e r f o c u s o n d e v e l o p m e nt through professional relationships and hands-on experience. W it h nu merou s de ve lopment o p p or t u n it ie s b ot h lo c a l ly a nd abroad, Nestlé ensures that their employees have access to ta lent de ve lopme nt prog r a m s t h at f it their needs. The Mansmith Market Masters award is the first and only recognition for senior marketers that is based not just on corporate performance, but on mentor i ng of Ma nsm it h Young Market Masters winners. Over the past decade the Mansmith Young Market Masters award has celebrated the remarkable talent and creativity of the Filipino youth in the fields of marketing and sa les.

CATCH AMAZING EASTER DEALS AND TREATS AT SHERATON

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L A N you r Ea ster weekend r ight w it hout hav ing to f ly or d r ive out of t he c it y. Spend t he f irst wave of su mmer at Sheraton Ma n i l a Hotel, at t he v ibra nt Resor ts World Ma ni l a comple x. Hop on to t h is new hotel to ava i l you rsel f of t heir Ea ster st ayc at ion pac k age of P12, 50 0 - plus per n ight f rom

Apr i l 13 to 21. T h is fa nt a st ic dea l inc ludes brea k fa st bu f fet for t wo persons, P3,0 0 0 wor t h of food a nd beverage cred its, a nd t wo access to t he Eg g Hu nt act iv it y for k id s on Apr i l 21. Wit h fac i l it ies for adu lts a nd k id s, it is def in itely a per fect fa m i ly ret reat! If it is a n Ea ster Su nd ay

fea st you a re look ing for, t hen hop on to Sheraton Ma n i l a’s m inef ield of indu lgences at t he S K itc hen. Enjoy a w idespread of inter nat iona l c u isines for on ly P2,80 0 net. Comfor t ing d ishes f rom ea st to west a nd t rad it iona l Fi l ipino menu t a ke on t he spot l ight, a nd desser t c hoices a re just end less. A side f rom food, beverages a re a lso u n l im ited, wh ic h inc ludes f resh ju ices a nd sod a s. You r k id s a re in for a t reat to t heir Minecra f t-t hemed act iv it y, inc lud ing face pa int ing a nd eg g hu nt at t he K id s’ C lub. It is a n a f ter noon bu rst ing w it h ga mes, pr i zes a nd good ies in loot bags. Sheraton Ma n i l a w i l l a lso host a Euc ha r ist ic Ma ss on Apr i l 21 at t he ba l l room at 11 a.m. Now, t hat ’s a n u lt im ate Ea ster celebrat ion in one dest inat ion not fa r away f rom t he c it y. For more infor m at ion, plea se v isit w w w. sheratonmanila.com.

Sports BusinessMirror

AUSTRALIA’S Stephanie Gilmore competes in the Association of Surfing Professionals Billabong Rio Pro women’s surfing competition at Barra da Tijuca beach in Rio de Janeiro, Brazil, in May 2012. AP

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| Thursday, April 4, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

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SURF’S UP!

OLD COAST, Australia—Qualifying for the inaugural Olympic surfing competition began on Wednesday with a World Surf League (WSL) event which also featured equal prize money for male and female board riders. Poor surf conditions at the regular Snapper Rocks venue on the Gold Coast meant officials moved the first day of competition around the point to nearby Duranbah. The Quiksilver Pro and Boost Mobile Pro are the first elite events where men and women will receive equal prize money. Seven-time world champion Stephanie Gilmore leads the women’s field while defending Gold Coast champion and fellow Australian Julian Wilson features in a strong men’s field that included American great and 11-time world champion Kelly Slater and reigning series champion Gabriel Medina. For surfers like Gilmore, who can earn a spot at the Tokyo Olympics by finishing in the top 8 at the end of the WSL season, 2019 presents some unique opportunities for pay parity and Olympic inclusion. “I’ve never been driven by money to win, but I’ve come to understand the sport has a real power to speak to people on a whole other level,” Gilmore said ahead of the seasonopening event at her local break. “To set standards and send messages in society that not many other industries have...

and producing the highest-scoring wave of the day. Under the new men’s format, first- and second-place finishers in the opening heats go directly to the third round. Third place goes into a second round, where the last surfer in each heat is eliminated. From the third-round onward, it’s single elimination head-to-head competition. Slater, coming off an injury-shortened 2018 because of a broken right foot, said he doesn’t feel a 12th world title is out of the question for him. “I was really burned out when I got injured last year, so it was sort of a good time to recharge,” Slater said. “I know where the level’s at...I don’t think that it’s unattainable.” The Olympic event in Tokyo next year will be held at Shidashita Beach, otherwise known Shida, which is about 60 kilometers outside the Japanese capital in the Chiba prefecture. The Olympic fields will feature 20 men and 20 women. It is possible that if surfing is extended to the Paris Games in 2024 or Los Angeles in 2028, categories of longboarding, body-boarding or stand-up paddleboards (SUP) could be added. The top 10-ranked men and eight highestranked women on the 2019 WSL tour will be among those qualifying for the Tokyo Games. Slater, who would be 48 when the Tokyo Games are held, has said he hopes to represent the United States. Continental qualifiers for the rugby sevens

it just seemed like such a milestone year and it made me fall back in love with being the world champion and reminding me why I do this.” Becoming an Olympian would be an added bonus. “I always loved the idea of going to the Olympics, [but] never thought I’d get the chance,” she said. In men’s first-round heats on Wednesday, Wilson and Slater finished last in their respective three-man heats, forcing both into elimination heats in the second round. Medina advanced directly to the third round with a win in his opening heat,

‘THE OTHER’ FOOTBALL LEAGUE CLOSES SHOP S

AN DIEGO—The Alliance of American Football (AAF) has ended its first season prematurely and told most employees that they will be terminated as of Wednesday. Employees were notified of the decision in a letter from the AAF board on Tuesday afternoon. The board essentially is majority owner Tom Dundon, who also owns the National Hockey League’s (NHL) Carolina Hurricanes. The letter, obtained by The Associated Press, gave no reason for ending the inaugural season, only that the decision was made “after careful consideration.” It also said a small staff would remain to seek new investment capital and “restructure our business. Should those efforts prove successful, we look forward to working with many of you on season two.” The abrupt end to the latest spring league after just eight weeks stunned co-founder Bill Polian, the former NFL executive who built a Super Bowl winner with Indianapolis. “I’m extremely disappointed,” Polian told The Associated Press by phone from Charlotte, North Carolina. “On the one hand it was kind of our wildest fantasies come true. It all came true and now it’s all come crashing down.” Asked why the league was shutting down, Polian said he’s heard “only that it’s about the money. That’s all.” The league had teams in Orlando, Atlanta, San Diego, Phoenix, Salt Lake City, San Antonio, Birmingham and Memphis. Several hours before the letter was sent, Memphis quarterback Johnny Manziel tweeted: “If you’re an AAF player and the league does dissolve. The last check you got will be the last one that you get. No lawsuit or anything else will get you your bread. Save your money and keep your head up. It’s the only choice at this point unless something drastic happens.” Manziel said in another tweet: “Just the reality of this unfortunate situation...great concept, good football on the field and fun for fans to watch. Just not enough money to go around which has been the main problem with other leagues for a long time.”

The letter said employees would be paid through Wednesday. The AAF seemed to have a better chance of surviving than other alternative leagues, such as the USFL and the World League, because of the people and philosophies involved. Polian and co-founder Charlie Ebersol, a television and film producer, envisioned it as a development league for the NFL with several rules tweaks designed to speed up play and make it safer. There were no kickoffs or PATs. Teams had to go for a two-point conversion after touchdowns. “We were headed to a tremendous run of success, beg inning with Saturday’s game leading into the Final Four on CBS,” Polian told the Associated Press. “Our league on the field has prospered and grown. The football’s gotten better, and that’s a tremendous tribute to the coaches and players and GMs and front office staff and all the other people who have done a phenomenal job.” Polian later said in a statement that when Dundon took over, it was his and Ebersol’s belief “that we would finish the season, pay our creditors and make the necessary adjustments to move forward in a manner that made economic sense for all. The momentum generated by our players, coaches and football staff had us well positioned for future success. Regrettably, we will not have that opportunity.” While it clearly wasn’t NFL-caliber football, it was entertaining and helped fill the post-Super Bowl void. Among the league’s coaches were Steve Spurrier, Dennis Erickson, Mike Martz and Mike Riley. However, there were signs of trouble in a league put together in less than one year. Dundon invested $250 million in the AAF shortly after play began. At the time, Ebersol said reports the Alliance was short on cash and needed a bailout from Dundon in order to make payroll were untrue. He said the league had a technical glitch in its payroll system that was fixed. The AAF aspired to be a league for players with NFL hopes, but it could not reach agreement with the NFLPA to use players at the end of NFL rosters. AP

SAN Diego Fleet’s Gavin Escobar (89) makes a critical first down catch on fourth and long over Birmingham Iron’s Max Redfield (20) late in the second half of theior Alliance of American Football game in San Diego. AP

competition at the Tokyo Olympics will kick off in June. The top four teams in the World Sevens Series will qualify automatically, and currently both gold medalists from the inaugural Olympic rugby sevens tournament in Rio de Janeiro—the Australian women’s team and the Fijian men—are in good position heading into the Hong Kong stop this weekend. The US team leads the men’s series from New Zealand, Fiji and South Africa, leaving Australia and England outside of the automatic qualifying spots with four rounds remaining. New Zealand, silver medalists in Rio, lead the women’s series from the United States, Canada and Australia. In regional qualifiers, there will be one automatic qualification place on offer from each of Asia, Africa, Europe, Oceania, South America and North America. In the women’s qualifying, the winner of tournaments in Asia, Africa, Europe, Oceania and South America will earn a spot at the Tokyo Olympics. In North America, if two teams qualify directly from the World Sevens Series, there will be no direct qualification from the regional competition. Instead, the two highest-ranked teams will go into a 12team Olympic repechage tournament in 2020, where the two teams will secure a spot in Tokyo. World Rugby Chairman Bill Beaumont said the inclusion of rugby sevens at the Olympics “was a defining moment for the sport” and had led to rapid growth in the men’s and women’s games and a more competitive world series. “Throughout the global regional sevens competitions, we have also seen the emergence of teams who can compete among the best of the world when on the world series,” he said. “The strength and global competitiveness of sevens is growing at pace.” Continental qualifiers start June 1 with a women’s tournament in Lima, Peru. Other qualifiers include the July 6 and 7 North American tournament in the Cayman Islands, the Oceania tournament in Fiji from November 7 to 9 and in Asia on November 9. The Olympic tournament will be held July 27 to August 1 next year at Tokyo Stadium. AP

SAFE! Minnesota Twins’ Eddie Rosario beats the tag by Kansas City Royals second baseman Chris Owings

during the ninth inning of their Major League Baseball game at Kauffman Stadium in Kansas City, Montana, on Tuesday. The Twins defeated the Royals, 5-4, in 10 innings. AP

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RECORD TRIPLE-DOUBLE O

KLAHOMA CITY—With the outcome all but decided and just over a minute remaining, Oklahoma City Thunder Coach Billy Donovan wanted to get Russell Westbrook out of Tuesday’s game. Westbrook wasn’t having it, waving off Hamidou Diallo. Moments later, Westbrook grabbed a rebound and nearly snagged another as the ball glanced off his fingertips after a miss. On the next possession, Westbrook snagged a final rebound and joined some elite company in National Basketball Association (NBA) history in the Thunder’s 119-103 win over the Los Angeles Lakers. Westbrook became the second player in league history to have 20 or more points, rebounds and assists in a game, finishing with 20 points, 20 rebounds and 21 assists. Wilt Chamberlain was the only other player to accomplish the feat. After the game, Westbrook dedicated the win to rapper Nipsey Hussle. The musician, like Westbrook a Los Angeles product, was shot and killed on Sunday in Los Angeles. “I’m not going to try to put it into words, but like I said on the floor, that’s who it’s for,” Westbrook said. “I’m going to leave it at that.” Chamberlain set the lofty mark with 22 points, 25 rebounds and 21 assists in a 1968 game. Westbrook also tied Chamberlain for second all-time in 15-point, 15-rebound, 15-assists games with eight. Oscar Robertson had 14 such games in his career. Lakers Coach Luke Walton said his team narrowed in on three keys to beat the Thunder, even with his own depleted lineup— transition defense, taking care of the ball and boxing out. The Thunder outscored Los Angeles on the fast break 34-8, the Lakers turned the ball over 21 times and Oklahoma City won the rebounding battle 50-39. “When they get what they got off of those three things, it’s going to be really hard to win the game, even if you shoot the ball well like our guys shot tonight,” Walton said. The Lakers shot 47.6 percent from the field. Thunder Coach Billy Donovan said Westbrook explained the wave-off after the game.

“I knew that he had a close friend pass away,” Donovan said. “For a few guys on our team relationship-wise, it’s kind of hit them pretty hard just in the last couple days. “For Russell, that was something that really, really meant a lot to him.” After Westbrook clinched the mark, grabbing the rebound on Lance Stephenson’s miss in the final minute, he drew a large ovation from the crowd before leaving the game for Diallo. Oklahoma City had struggled in the first half recently, trailing in eight consecutive games entering Tuesday. The Thunder, despite leading by as many as 11 points early, looked to be heading toward another halftime deficit when Kentavious Caldwell-Pope put the Lakers ahead with a 3-pointer late in the second quarter. But Oklahoma City closed the half with an 11-6 run and took a 59-55 lead into halftime. Though Westbrook struggled from the field early— missing 12 of his first 14 shots—he was effective on the offensive end from the start, with 10 first-quarter assists. “I tried to attack the paint,” Westbrook said. “A lot of teams for me load the paint and stop me from getting to the paint, so I tried to use that to my advantage, drawing three or four people and finding open guys. “I tried to set the tone early.”

Westbrook finished 8 of 23 from the field as Oklahoma City won for the third time in its last 10 games. Caldwell-Pope led the Lakers with 23 points. The loss was Los Angeles’s second in

the last six games despite playing with a roster missing its stars. “I thought we brought the energy level that it takes to win,” Walton said. Eleven of Oklahoma City’s first 12 baskets came near the rim. Westbrook assisted on eight of those. AP

RUSSELL WESTBROOK becomes the second player in league history to have 20 or more points, rebounds and assists in a game. AP

AFTER exchanging praise for one another for months, Pele and Kylian Mbappe finally meet on Tuesday at an event organized by a Swiss watchmaker in a lavish Parisian hotel. AP

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MICK SCHUMACHER’S performance is likely to generate even more excitement about the prospect of seeing a Schumacher driving in Ferrari’s famed red car again. AP

ARIS—When Kylian Mbappe netted France’s final goal in a 4-2 win over Croatia last July, the rising star became only the second teenager to score in a World Cup final—emulating soccer great Pele. After exchanging praise for one another for months, the pair finally met on Tuesday at an event organized by a Swiss watchmaker in a lavish Parisian hotel. Their meeting had initially been planned for last November but was canceled because of the 78-year-old Pele’s poor health at the time. “I think he is envying me, that’s why he is trying to emulate me,” a relaxed Pele joked after they were introduced on a small stage. “His style, the way he is playing, is Latino. Even Brazilian, I would say. It’s a shame he did not play for Santos [Pele’s former club]. But it’s not too late.” Mbappe’s rise to the top has been meteoric. After impressing with his former club Monaco, he received his first call-up with France in March 2017. He was sold to Paris Saint-Germain that summer for €180 million ($210 million) and won the World Cup less than 12 months later. Mbappe’s most memorable game in Russia was in in a 4-3 victory against Argentina where he scored twice, earned a penalty and showed off his blistering speed under

the eye of a powerless Lionel Messi. Mbappe said he knew that he would “enter history” alongside Pele with a goal in the World Cup final. After scoring twice in Brazil’s 5-2 win against Sweden in the final of 1958, when he was just 17, Pele went on to win another two World Cups with Brazil. It remains to be seen if Mbappe will do the same, but the French forward believes it’s “statistically possible.” “But it would be unreal,” he said. “Of course, as long as I will be able to win World Cups, my goal will be to win them because France is a great nation of football,” he said. “We will be back in 2022 to try and win again.” Pele said Mbappe and his French teammates reminded him of Brazil’s great national teams from the 1960’s. “Mbappe said France will prepare to win the next World Cup, but he should know that we [Brazil] are also going to get ready,” Pele said. Mbappe was also was named the World Cup’s best young player in Russia, like Pele in 1958. Mbappe has often been compared to the Brazil great for his precocity, but in terms of style, with his devastating speed and skills, he is closer to France great Thierry Henry. Asked about Mbappe’s main qualities, Pele said he was impressed by his pace and intelligence. “And he is unpredictable. He is changing his game all the time. It’s his main advantage,” said Pele, who scored more than 1,000 goals during his career. AP

SCHUMACHER—THE SON—2ND FASTEST IN FORMULA 1 TEST DEBUT FOR FERRARI

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AKHIR, Bahrain—More than 12 years after Formula One great Michael Schumacher drove his last race for Ferrari, his son showed he might be ready to carry on the family legacy. Mick Schumacher drove in his first F1 test for Ferrari on Tuesday and set the second fastest time. Shortly before the end of the afternoon session in Bahrain, the 20-year-old Schumacher posted a time of one minute and 29.976 seconds. That was briefly the fastest time of the day before it was surpassed by Red Bull’s Max Verstappen, who was 0.597 seconds faster. Schumacher completed 56 laps, with only Verstappen and defending champion Lewis Hamilton doing more. The performance is likely to generate even more excitement about the prospect of seeing a Schumacher driving in Ferrari’s

famed red car again. Five of his father’s record seven F1 titles were won with Ferrari from 2000-04. His 50-year-old father also holds the record for F1 wins with 91. Despite the focus, the younger Schumacher appeared calm and was smiling when he arrived at the Ferrari garage and drove onto the track for the first time, watched by his mother, Corinna. Schumacher was sixth fastest in the morning session, which was twice interrupted by rain, with a best time of 1.32.552 over 30 laps. Schumacher, who won the F3 European Championship title last year, is competing in F2 for the Prema Racing team this season and finished eighth and sixth in his first two races at the weekend. There has been speculation he could be in F1 by 2020 if he shines this season. Schumacher is part of Ferrari’s driver

After Bataan’s fall, Risers look to rebuild RICK OLIVARES | bleachersbrew@gmail.com

BLEACHERS’ BREW FOLLOWING the Bataan Risers’s 56-51 loss and ouster at the hands of the Manila Stars from the Maharlika Pilipinas Basketball League (MPBL) Datu Cup North Division semifinals, the Risers’s management released a message. The Risers finished the elimination round with a league-best 23-2 won-lost record, with their two losses coming at the hands of the Manila Stars and San Juan Knights. During the season, the team went on a record 14-match win streak that was halted by San Juan. They went on a nine-game win streak to end the elimination round. They swept the Caloocan Supremos in the best-of three series to advance to the semifinals.

The Risers defeated the Stars in Game One but went on to lose the next two including the last game at the Bataan Peoples’ Center. Read the statement: “As the Bataan Risers fell to the Manila Stars in the semifinals of the North Division in the ongoing MPBL Datu Cup, the organization is poised to rise back from this transient setback. “We wish the last teams standing the best of luck in their forthcoming battles for the championship. “We thank Sen. Manny Pacquiao and the people behind the MPBL for this gem of a league.

academy, as was the 21-year-old Charles Leclerc—who is now racing for Ferrari after just one season with Alfa Romeo Sauber in F1 last year. Michael Schumacher drove his last race for Ferrari on October 22, 2006, at Interlagos in Brazil. He retired but returned to F1 with Mercedes for three more seasons in 2010. The former driver was skiing with his son in December 2013 when he fell and hit the right side of his head on a rock, splitting open the helmet. Doctors worked to remove blood clots from his brain, but some were left because they were too deeply embedded. Schumacher’s condition stabilized after he was placed in a drug-induced coma, from which he later emerged. But updates on his health have been scarce since he left the hospital in September 2014 to be cared for privately at his Swiss home by Lake Geneva. AP

“We thank the Provincial Government of Bataan led by Governor Abet Garcia for their full and unqualified support throughout the season. We thank the people of Bataan for being with us through this journey. “We thank the coaching staff, led by Jojo Lastimosa, along with Joel Banal, Vic Pablo, Andy de Guzman, Yuri Escueta, Jonas Villanueva and Ervin Sotto, for their unselfish leadership and mentorship. We thank our players for their service in what was a memorable and thrilling season, even if we came short of a championship. “At this point, we are looking to rebuild from the ground up, to reassess who among the team we bring back and who can we add to further fortify our stock. We need to plan on how we can do things better. “It will be a long and perhaps even more arduous process, but we commit to give basketball fans, our supporters and partners a team it deserves, a team that will not only bring more pride and joy, but hopefully a championship. “Together, we RISE!”

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THAI IN COMMAND T

HAILAND’S Tawit Polthai crushed the stellar field and unraveled the dreaded The Country Club (TCC) course with a bogey-free and eagle-spiked 67 to find himself a bewildered leader by four strokes over Clyde Mondilla and two others at the start of the 101st Solaire Philippine Open on Wednesday in Santa Rosa, Laguna. Polthai overcame the heat and severe conditions in afternoon play with a near-impeccable short game and solid putting, producing three birdies inside 15 feet and a 10-foot eagle on the par-5 eighth off a 6-iron second shot from 183 yards for a 32-35 card in a big surge for a player who struggled to finish joint 37th in last week’s International Container Terminal Services Inc. (ICTSI) Riviera Challenge. While majority groped and struggled trying to come up with a decent start in scorching heat at the wind-raked Tom Weiskoph-designed layout he had never played before, Polthai made it look easy—at least after the first 18

holes of the $500,000 event sponsored by Solaire Resort & Casino for the third straight year. “It’s a very tough, windy course. I’m really surprised to have shot a 67,” said the 25-year-old Polthai from Bangkok. Mondilla, out to atone for his missed cut stint at Riviera, birdied two of the four par-5s and the par-3 third hole to negate his bogeys on Nos. 6 and 9 then parred the last eight holes to join Aussie Jack Sullivan and another Thai Charng-Tai Sudsomo at second with 71s. “My irons, short game and putting finally clicked,” said Mondilla, who took the cudgels for the locals after the fancied Juvic Pagunsan and former champion Angelo Que succumbed to tough conditions and hobbled with identical 77s for joint 40th with Tony Lascuña and Thais Chawalit Plaphol and Poosit Supupramai in the 72-hole championship organized by Pilipinas Golf Tournaments Inc. Sudsom actually had a two-under card heading to the par-4 18th but holed out with a bogey, enabling Polthai to open with a huge cushion over a stellar international field in the event sanctioned by the National Golf Association

TAWIT POLTHAI (right) makes it look so easy on a hot afternoon at The Country Club as Clyde Mondilla stays in the hunt. ROY DOMINGO

AOLO BARRO endured the tough backside test that bedeviled the bids of a slew of rivals as he stormed into the lead by five despite a 74, while Kayla Nocum used a sizzling frontside assault to fire a 69 and move past Junia Gabasa halfway through the Philippine Junior Amateur Open Golf Championships at the Sherwood Hills Golf Club in Trece Martires, Cavite, on Wednesday. Barro recovered from a three-bogey, onebirdie stint at the front with two birdies against the same number of bogeys in the last nine holes, his closing 36 proving to be the best in windy conditions as he moved from second to the top at 147 heading to the final 36 holes of the Albatross division (15-18) of the third leg of this year’s PLDT Group National Amateur Tour. Sean Ramos fought back from a mediocre opening 77 with a frontside 35 but hobbled with four bogeys in a birdie-less backside windup of

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LADY MAROONS SURVIVE SCARE FROM UE GALS By Ramon Rafael Bonilla

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NIVERSITY of the Philippines (UP) was pushed to its limits before escaping with a 25-23, 20-25, 25-23, 24-26, 15-11 victory over University of the East (UE) in the University Athletic Association of the Philippines Season 81 women’s volleyball tournament on Wednesday at the Filoil Flying V Centre in San Juan CIty. The Lady Warriors had the Lady Maroons against the ropes but the Katipunan-based squad showed maturity and composure in the deciding set to hike their record to six wins against four losses for a share of fourth place with the University of Santo Tomas Tigresses. Veteran spiker Marian Buitre carried the scoring load for UP with a season-best 19 points built on 16 attacks and three blocks. “It was hard. As I said before, nothing comes easy for us. We had to just work hard

Merit winner Tony Lascuña, who all floundered with five-over cards in a tie with Thai Atiruj Winaicharoenchai, England’s George Twyman, and compatriots Erwin Arcillas and Paul Echavez. “My putting was off and made just one birdie,” rued Pagunsan, who came off a sevenshot victory at Riviera last week but made three straight bogeys from No. 5 and dropped three more strokes at the back against a birdie on No. 17. Que, a three-time champion of the TCC Invitational, bogeyed the first two holes and spent the rest of the day groping for form, finishing with four more bogeys and a doublebogey against three birdies for a 40-37, while Lascuña blew a decent 36 start with closing 41 marred by a double-bogey on No. 10 and a triple-bogey on No. 18. Korean-American Micah Shin, who beat the cream of the local pro crop to become the first non-Filipino winner of the annual TCC Invitational, bogeyed the first two holes and three of the last four. He shot three birdies but dropped three strokes on the long par-4 ninth and made three more bogeys and a double bogey to find himself in danger of missing the cut with an 82. Jhonnel Ababa, winner of four PGT Asia legs, struggled when ranged against Jordan and Meesawat, limping with a 79 to likewise fall below the projected cut-off line in the event sanctioned by the National Golf Association of the Philippines and backed by ICTSI, PLDT Enterprise, Meralco, BDO and PGT Asia official apparel Pin High.

Barro, Nocum tow field in junior amateur P

MAKE WAY FOR ‘THE NATIONALS’

HE first franchise-based eSports league in the country—The Nationals—kicked off on Wednesday with three of the Philippines’s biggest games featured in Year 1—Dota 2 on PC, Mobile Legends: Bang Bang on Mobile and Tekken 7 on PS4. The six inaugural teams are Bren Epro, Cignal Ultra Warriors, HF Emperors, PLDT-Smart Omega, SuhaXCTN Punishers and STI. The first five teams will participate in all three games spanning all the way to October with all games played at the Gariath Concepts Studio, guaranteeing an exhilarating experience to fans watching live. STI will join starting June after the Dota 2 competition. Each of the contested games will have two conferences in the first season. Each conference will feature a double round-robin group stage and single-elimination playoffs, where winners and the top performers per conference will advance to a season finale later on in the year. The Nationals Commissioner Ren Vitug is optimistic that the league will provide a platform where talents can be nurtured. “I have witnessed many athletes gleaming with skill and potential drop out of the scene because the infrastructure was not there to support them,” Vitug said. “There are so many external factors that prevent them from being the best that they can be.” Being a franchise-based league, The Nationals guarantees the continued existence of teams, providing stability and continuity for the local eSports calendar. Now, both athletes and teams have a more actionable goal that does not involve them going all or nothing on international events. The Games and Amusements Board has recognized eSports as an official sport last July 2017. This November, the Philippine 30th Southeast Asian Games will feature eSports as a medal sport. All three game titles in The Nationals will be featured in the SEA Games. This guarantees to be a highlight attraction for a country with 70 million of its population being online and 47 million being gamers. For The Nationals, PayMaya is the first to jump in on the opportunity as the Official Digital Payments Partner. Rounding up our group of pioneering partners are The Nationals Official TV broadcast partners ESPN5 through 5Plus on Free TV and Cignal TV through eGG Network, and One Sports on Pay TV. Livestreaming on social media will also be provided by the league.

of the Philippines and backed by ICTSI, PLDT Enterprise, Meralco, BDO and PGT Asia official apparel Pin High. Nicholas Fung missed joining Mondilla and Sullivan with a bogey on No. 18 as the Malaysian ace dropped to a share of fifth at 72 with Thai Chonlatit Chuenboonngam, Sam Gillis of the US, Aussie Damien Jordan and locals Justin Quiban and Cookie La’O. Reigning Philippine Golf Tour (PGT) Order of Merit champion Jobim Carlos, meanwhile, retired after sustaining an injury to his right thumb after seven holes. Polthai did struggle off the mound, missing five fairways but the native banked on his wondrous touch both on his long and short irons and putter, saving pars in eight times that he went out of regulation and capping his daylong brilliance with 24 putts. Sullivan and Mondilla took advantage of their early tee start to card a pair of 71s which was later matched by, their one-under cards putting them four shots behind the hot-starting Polthai, whose blistering feat underscored the 39-player strong Thais’ determined bid to nail their first-ever Open diadem. They got a crack at it last year when Prom Meesawat wrested the lead in the third day and majority of the final round, only to succumb to pressure and yield the crown to local ace Miguel Tabuena in a playoff. But while Mondilla got his game going, the other local aces stumbled and fumbled with fat scores in hot, windy conditions, including Pagunsan, Que and three-time PGT Order of

FOTON’S Jaja Santiago soars over the net against Sta. Lucia Realty’s Pam Lastimosa and Molly Lohman during their match on Tuesday.

Tornadoes clash with Lifesavers; Lady Realtors take on United VC

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OTON clashes with Generika-Ayala for a chance to avoid a last-place finish in the classification phase of the Philippine Superliga Grand Prix on Thursday at the Filoil Flying V Centre in San Juan. Game time is 7 p.m. with the Tornadoes going after for their third win. Also looking to avoid the bottom is Sta. Lucia Realty, which will clash with United VC at 4:15 p.m. while Cignal formalizes its claim of a twice-to-beat incentive when it battles F2 Logistics at 4:15 p.m. After their 12-25, 25-14, 25-20, 25-15 conquest of Sta. Lucia on Tuesday, the Tornadoes are now 2-11 to share the cellar of the eight-team standings with the Lady Realtors. With that, the final day of classification would be crucial for both the Tornadoes and Lady Realtors. The loser will not only sink to the bottom, but would also set a date with spotless Petron in the quarterfinals starting on Saturday. The winner will punch a ticket against for every single point. And again, a win is a win, and I’m happy with it,” UP Head Coach Godfrey Okumu said. Tots Carlos had 16 points off 13 spikes, while Maristela Layug added 15 points for the Lady Maroons. Playing minus hitter Isa Molde who sprained her ankle last week, UP went to Buitre who filled the role and provided the impact that her team needed. “Being a senior, my mindset going into the game was to give the team a boost when we needed it,” the graduating player said. The Lady Maroons held a narrow 10-9 lead in the fifth set before breaking loose with four straight points, which the Lady Warriors could not recover from. UE never backed down easily and almost snatched the third set with a 6-0 start before UP unleashed a 9-3 comeback for a 13-11 lead. The Lady Maroons tried to soften their foes’ assault and managed to take the set at 25-23.

second seed F2 Logistics in the next round. Both Petron and F2 Logistics, the protagonists in the several finals, will enjoy a twice-to-beat advantage in the quarterfinals. “We need this win entering into the quarterfinals,” said Foton Coach Aaron Velez, who will bank anew on imports Milagros Collar, Courtney Felinski and Jaja Santiago. “We’ll focus on this game first before we think about what’s ahead.” But beating respective foes is easier said than done. United VC also needs a victory to steal fourth spot for a twice-to-beat bonus from Cignal. Generika-Ayala stays at No. 6, but is still hungry for a win to boost its morale in the next round. “It’s going to be a very interesting battle,” Generika-Ayala Coach Sherwin Meneses said. “This is the last day of classification and we all need wins, not only to improve our standing, but also to gain momentum entering the next round.” Mean Mendrez and Judith Abil took turns in uplifting the UE side but their efforts were not enough. Mendrez had a game-high 23 points off 20 attacks while Abil added 22 points. UE is now on the verge of elimination with a 2-8 record. Frontrunning Ateneo and fierce rival De La Salle, meanwhile, clash on Thursday in men’s football tournament at the Far Eastern University (FEU)-Diliman pitch. The Blue Eagles hope to avenge their 1-2 loss to the Green Archers at the end of the first round in the match scheduled at 3:30 p.m. FEU plays National University at 9 a.m., while University of Santo Tomas and UE collide at 1:30 p.m. After losing to De La Salle, Ateneo went into another scoring spree with 11 in the last two matches to seize the top spot with 16 points. The Archers are trying to get within the top four range. They are level with the defending champion Fighting Maroons at fourth spot with 13 points, but the Taft-based squad had an inferior goal difference.

40, settling for second at 152 after a 75, while Aidric Chan and Carl Corpus moved to joint third with 153s after a 75 (36-39) and 77 (40-37), respectively. Paolo Wong, who showed up the field with a gutsy 72 on Tuesday, failed to recover from a 39 start as he limped with a 42 for an 81, tumbling to Chan and Corpus’ group, now six strokes off the new leader in the 72-hole championship organized and conducted by the National Golf Association of the Philippines. Josh Jorge also shot a 75 but lay nine strokes behind at 156 while the rest continued to sputter in tough conditions at one of the country’s toughest courses. But Nocum tamed the frontside of the par-72 layout with three birdies then held sway with a birdie-bogey backside for a 69, grabbing a one-stroke lead at 146 in the girls’ side of the centerpiece division of the event sponsored by the MVP Sports

Foundation, PLDT Group, Cignal and Metro Pacific. Erstwhile leader Junia Gabasa reeled with bogeys in the last two holes and wound up with a 73, slipping to second at 147 with Korean Kang da Yun and Maria Tee at 151 and 152, after a 74 and 77, respectively. Meanwhile, Wiggam Tapdasan skied to an 85 but still stood way ahead in the Ace division (19-and-above) at 166 with Gerrard Park pooling a 181 after an 86. Korean Kim Tae Soo shot a 79 and padded his lead to two at 157 in the Eagle category (12-14) with Miguel Ilas taking the challenger’s role at 159 after a 77 in a tie with Jet Hernandez, who turned in an 80. Rianne Malixi, likewise, firmed up her lead in the girls’ category with a 78 and a 152, three strokes ahead of Eagle Ace Superal, who carded a 77 for a 155, while Arnie Taguines made a 79 for a 157, and Sam Dizon assembled a 159 after a 78.

ALL ABOUT MONEY? S PENCER HAYWOOD set the stage, Michael Jordan made it bigger and Kevin Durant super-sized it when he helped usher in the one-and-done era. Decades after those players made their groundbreaking departures from college, March Madness and the National Basketball Association’s (NBA) mega-millions have taken all the novelty out of leaving early for the pros. In the present era of one-and-done—a system that begat college programs that cater to kids in search of a one-year stopover instead of a diploma—the decision about whether to take off early for the NBA isn’t so much one of “if” but “when” for hundreds of players every year. An Associated Press analysis of NCAA Tournament rosters over the last three decades shows the ever-expanding impact that early entry, and especially the one-and-done player, has had on both the college game and the NBA draft. In 2005, the year before the one-and-done rule went into effect, there were nine high schoolers and one freshman drafted. Last season, there were no high schoolers, and 13 of the first 18 picks were one-and-done. In the first year the AP studied, 1989, there were 13 early entries, five of whom played in the NCAA Tournament. Only one player drafted by the NBA that year was a freshman, Shawn Kemp. (The future six-time NBA All Star never played college basketball after eligibility issues at Kentucky and a transfer to a junior college.) The rules could be changing again soon. The NBA is considering doing away with the rule prohibiting players under 19 from being drafted, and the league is trying to come up with a new system. But it doesn’t want to return to the days of the 1990s and early 2000s, when unprepared high schoolers were drafted early, many of them never developing into stars or even role players. Whatever the change, it figures to have a considerable impact on the college game, though nobody is sure exactly what the impact will be. “I think kids should go right to the NBA,” says Kentucky Coach John Calipari, who has become the leading advocate of one-and-done, and the security it has brought to many college players and their families. “But there’s probably [only] five or six or seven that are ready to do that, and even half of those will probably spend time in the [developmental] G League.” It wasn’t always like this. Haywood’s decision to leave the University of Detroit in 1969 for the then-ascending American Basketball Association was considered revolutionary at the time. A year later, when he signed with the NBA’s Seattle SuperSonics, he won a Supreme Court case against the league, which had sued for violating the rule that players couldn’t enter the league until they were four years removed from high school. Haywood’s victory set precedent, even if it didn’t exactly open the floodgates. Through the 1970s, a handful, sometimes up to a dozen, underclassmen entered each year into a league where a decent salary was only starting to reach into six figures. Some early entries from that era: Moses Malone, Bernard King and Reggie Theus. Magic Johnson came out after his sophomore year, in 1979, and along with Larry Bird helped take the NBA

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| Thursday, April 4, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

MICHIGAN’S—Fab Five (from left) Jimmy King, Juwan Howard, Chris Webber, Jalen Rose and Ray Jackson—pose in Ann Arbor, Michigan, in November 1991. AP

to new heights. By the time Jordan left North Carolina after the 1984 season—one of nine underclassmen, along with Charles Barkley and Hakeem Olajuwon, to declare that year—the NBA was introducing a salary cap, at $3.6 million a team, and the NCAA was expanding the field in its tournament to 64 teams. Neither the pros nor what essentially became its unofficial minor league, college basketball, have looked back since. Today, the cap stands at nearly $102 million and the number of players who came out early ballooned to 236 last year. Only 42 got drafted. In between Haywood and 2018, early entry became

more the norm than the exception. In the early 1990s, the Fab Five and Michigan helped introduce baggy shorts and hip-hop into basketball. But in a wide-ranging recruiting scandal that resulted in most of their victories being wiped off the official books, Chris Webber, booster Ed Martin and the rest afforded college hoops a preview of the havoc that the growing influence of cash—with boosters, shoe companies and club coaches all playing a role in its distribution—could wreak on the sport. With no restrictions and plenty of opportunities, high schoolers started taking the dip more regularly. But for every Kevin Garnett—the player who triggered the teens-to-NBA onslaught in 1995—or LeBron James, there were even

more like Kwame Brown, a top pick who turned into a bust or, even worse, Taj McDavid, who thought he could go from high school to the NBA, but never got a sniff. That brought about the one-and-done rule. Established in 2006, the year before Durant entered the draft and helped push the issue to the front-and-center of the basketball conversation, the rule forced players to wait a year after high school to enter the NBA. Most chose to use that year playing college ball, and Calipari wasn’t the only coach willing to cater to them. These days, “one-and-done” is often used as catch-all for everything wrong with college basketball. With the FBI getting involved in sorting out the connection

between money, shoes and hoops—a job many think the NCAA should be doing instead of law enforcement—the NBA is rethinking one-and-done, trying to come up with a system that will better serve the game. “It’s going to happen,” says Duke Coach Mike Krzyzewski, one of those who has taken greatest advantage of the system. A new framework could be in play by the 2022 draft. But what that system will bring is the multimillion-dollar question hovering over the game for the next three years. “Tell me the environment that we’re going to be in,” Krzyzewski said. “We don’t know that environment. I don’t know how a youngster will be taken care of.” AP

FOOTBALL-SIZED VENUE TRANSFORMS INTO HOOPS-FRIENDLY ARENA M

INNEAPOLIS—The losses taken last weekend by Duke, Gonzaga, North Carolina and Purdue pulled the curtains on their seasons, one painful game short of the Final Four. Those teams that made it to Minneapolis? The guys from Michigan State, Texas Tech, Auburn and Virginia will be greeted, literally, by giant drapes inside the building where the 2019 champion will be determined. Yes, the bigger and fancier the site, the more complicated the conversion. From the extra speakers to the special center-hung scoreboard to the temporary blinds at US Bank Stadium, turning a football-sized venue into a basketball-friendly facility has become quite the project. That’s fitting, of course, because the Final Four has become quite the event. “People have said, ‘It’s a game for an arena,’ but trying to go back at this point on the opportunities? Instead of giving approximately 5,000 tickets to each school, they’d be receiving

far less than that, and then you’ve got all of the membership, the other schools that want access, and the general public,” said LJ Wright, the NCAA’s director of men’s basketball championships. “The demand is still here, and so we want to expose and help grow the game through that exposure.” When the NCAA first began using an “in-the-round” seating configuration at Ford Field in Detroit in 2009, where the court is placed on the middle of the turf instead of in one of the corners and the entire bowl is used, the minimum-capacity requirement for a Final Four was raised to 60,000 seats. That whittled the candidate pool to the 10 climatecontrolled National Football League-level venues, which had been sprinkled into the rotation throughout the 1980s and 1990s until the last National Basketball Association-sized host was used in East Rutherford, New Jersey, in 1996. There are currently only 10 covered stadiums big enough in the entire country to bid. Nestled into a compact downtown, filled with state-

US Bank Stadium operations workers install the court for the NCAA Final Four tournament in Minneapolis. AP

of-the-art amenities and fresh from holding the Super Bowl just 14 months ago, US Bank Stadium fits the bill. The not-quite-three-year-old facility’s defining feature, though, created an additional challenge for the host. The skylinefacing front of the building is essentially one big picture window, including five of the world’s largest pivoting glass doors ranging from 75 to 95 feet high. Then there’s the roof, about 60 percent of which was composed of a lightweight translucent plastic called ETFE. Even on some of those coldest afternoons, like the 2-degree outside temperature at kickoff of the Super Bowl, enough sunlight can stream in to make a television viewer do a double-take and wonder for a second if the game was actually being played in Arizona or Florida. “That’s what makes this building unique. That’s what makes it beautiful. That’s what really makes it the gold standard in the NFL. Unfortunately that is also what makes it very complex for us,” said Patrick Talty, the general manager

for stadium operator SMG. “Because of that competitive nature, needing the light to be the same for all teams in all situations, we then have to take our biggest asset away.” To keep the glare off the TV cameras and out of the eyes of the free-throw shooters, a darkening plan is mandated for each bidding venue. There’s no issue for many of them, but at US Bank Stadium, this sleek, steep, and ship-shaped $1.1-billion home of the Minnesota Vikings, there’s 460,000 square feet to cover. The $4.6-million project, covered by the building’s capital improvement fund, was so big the Minnesota Sports Facilities Authority split it between two manufacturers: theater-style curtains for the front and sailboat-like textile for the roof. Just one of the custom-made ceiling darkening panels is 10 feet wide and up to 370 feet long. The setup took five to seven days for 20 to 25 workers, with a similar time frame for teardown. The cost of the blinds and the altering of the building’s

identity have prompted some complaints from the public, but they’ll be reused for concerts and conventions and are expected to last for the life of the stadium, MSFA Chairman Michael Vekich said. For now, the fabric will help transform this colossal structure into an environment as close to an on-campus arena as possible, if that’s possible for an event that has averaged about 72,800 fans in attendance over the last 10 years. Putting 600 students from each school in $40 floor seats behind each basket was one way the NCAA has tried to increase the energy, along with subtly amplified noise for seats that are the farthest from the court so the swishes, clangs and squeaks can still be audible. “Final Fours in the past used to be a little stagnant because you’d get people who sit on their hands who aren’t as energetic,” Wright said. “When you think of college basketball, you think of students on their feet and jumping. They’re involved. They’re a part of the event, so that’s been a special thing.” AP

VIRGINIA’S De’Andre Hunter dribbles past Purdue’s Grady Eifert during their NCAA Tournament game in Louisville last week. Although this year’s Final Four is being touted as one in which experience and teamwork won out over raw talent, three of the teams in Minneapolis this week possess that young National Basketball Association talent, including Virginia and Texas Tech. AP

Love and Forgiveness

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EAR Forgiving God, You are full of Love and Forgiveness to all who call on You. In faith and hope we pray: Oh God, hear our prayer. Open our eyes to the glory of nature, and lead us to use our gifts to inspire others to delight in the Earth’s beauty. Open our ears to the sounds of nature, and lead us to use our resources to protect our waters, birds and forests from harm. Open our hearts to the treasures of nature, and lead us to contemplate and reverence the Earth and all that dwells in it. May God, maker of Heaven and Earth bless us and grant us to value our own life so we can bring His Word to all mankind. Amen. GIVE US THIS DAY, SHARED BY LUISA LACSON, HFL

Word&Life Publications • teacherlouie1965@yahoo.com

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

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MOMMY NO LIMITS: REALITY PARENTING: WHERE DISCIPLINE STARTS—PART II D3

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The wonderful, brave world of women directors REELING

TITO GENOVA VALIENTE titovaliente@yahoo.com

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ECENTLY released were the results of the survey done by Skilty Labastilla, a film critic, about the top 100 films made by women directors. Labastilla in his introduction mentioned the main reason for the listing as part of the celebration of Women’s Month. It must be said that the listing comes at a more auspicious time, now that the official celebration of the centenary of Philippine cinema is near. Women have always been celebrated as actresses but as filmmakers, history has always been silent about them. Labastilla noted how some of the films

made by women filmmakers have become box-office hits, which can mean that these directors knew how to read the sensibilities of the Filipino audience. The poll involved some 127 film critics, writers, cineastes and pundits who were provided with a master list for reference. The list went back as far as 1933, the year a filmmaker named Brigida Perez Villanueva made Pendulum of Fate. The filmmaker is considered to be the first Filipino female director. In one of the lecture sorties I made for “Sandaan,” a project of the Executive Council of Cinema of the National Commission for Culture and the Arts (NCCA), of which I am a part, I always posed the question about the identity and other facts about Villanueva. My purpose for this is that, more than ever, we need to know more about her so that we can honor her. Aside from Villanueva, the master list included women filmmakers who began their career during the prewar days. They were Carmen Concha, who produced and directed films; Consuelo “Ateng” Osorio and Susana de Guzman. Continued on D2

LUPITA AQUINO KASHIWAHARA’S Minsa’y Isang Gamu-Gamo

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The wonderful, brave world of women directors

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Continued from D1 Upon receiving the master list, I raised a rhetorical question to Skilty why the need to include the names of those filmmakers and their films, the copies of which cannot be found anymore. But why not? Who knows someone out there may have a copy or may have information about the films of these women filmmakers. What arises out of my own rhetoric is the fact that film preservation and archiving is in a dismal state up to this writing and for some months more. I have heard of a beautiful development regarding this, but I am leaving the disclosure of this most wonderful news to the person herself responsible for this project—Liza Diño-Seguerra of the Film Development Council of the Philippines (FDCP). There was another point which I raised that, as Skilty has acknowledged, was also brought up by other respondents, among them were Elwood Perez and Teddy Co. This was the inclusion of Fely Crisostomo in the list of women directors. Fely Crisostomo is a male. He is popular for having helmed Chiquito movies and dramatic pieces like Kapag Puso’y Sinugatan and At sa Ngalan ng Pag-ibig. The newest film to be included was Ulan by Irene Villamor. Interesting were the decisions of the respondents. For the 100th place, for example, it was a tie between a commercial film, Beauty in a Bottle (Antoinette Jadaone) and K’na the Dreamweaver (Ida Anita del Mundo). The former is a commercial film starring Angelica Panganiban, while the latter could be classified more as an independent film with Mara Lopez. The same catholicity of taste is manifested in the 99th spot, which was a tie again between Four Sisters and a Wedding (Cathy Garcia-Molina) and Mamay Umeng (Dwein Balthazar), a story about an old man awaiting the most natural ending to a human life, which is death. Done in 2012, this film by Balthazar would augur another work that came out in 2018: Oda sa Wala, which was No. 24 in the list. I was in the thick of research on my paper on Susana de Guzman and, thus, was interested in the film landing on the 92nd spot, de Guzman’s Sonny Boy. Susana de Guzman was a rare breed among women directors: she wrote stories for Liwayway and other popular magazines of the period, wrote many screenplays from those stories, and directed many of the films made from those stories. To her is attributed 54 screenplays and stories, and some 40 films. In my list, I would put Susana de Guzman’s Sarong Banggi, a film that became the talk of the town because Mila del Sol showed her knee in one scene. On hindsight, I should have placed Sumpaan, a film with a strange plot involving three brothers who swore to be loyal to each other. Their pact was made on a dagger, which was kept

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Robert Downey Jr., 54; David Cross, 55; Christine Lahti, 69; Craig T. Nelson, 75. HAPPY BIRTHDAY: Put your emotional energy to good use this year. It’s better to build physical strength through fitness and healthy living, and to avoid confrontations with individuals who are trying to use you. Maintain a clear head and a fit body that will help you overcome adversity. Caution and strategy will help you reach your goal. Your lucky numbers are 4, 18, 24, 28, 32, 36, 40. ARIES (March 21-April 19): Keep your emotions steady and your eyes on what’s going on around you. Look at the big picture in order to see how to handle anyone who gives you a hard time. Stick to your standards and goals. «««

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TAURUS (April 20-May 20): Follow through and finish what you start without making a big deal or letting others in on your plans prematurely. What you accomplish will give you greater insight into how to build momentum and carry on. ««« GEMINI (May 21-June 20): Make changes for the right reason. If you listen to someone else, you are likely to end up making a mistake. Be resourceful, and come up with your own plan. Do your own thing, and walk away from anyone trying to interfere. ««««

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MARILOU DIAZ-ABAYA’S Moral

and was to be taken out only when one of them became unfaithful to the brotherhood vow. Rosa Rosal essayed in this film one of her earliest portrayal of a woman reckless and impudent, a danger to men who espoused fidelity. The top 20 exhibits a major shift in aesthetics: the socalled independent and noncommercial films are heavily represented at this point, except for one or two commercial films. At No.20 is Ang Huling Cha-cha ni Anita (Sigrid Andrea Bernardo) and Tundong Magiliw (Jewel Maranan). Bernardo’s film would introduce a new young actress in the person of Therese Malvar; Maranan’s work is a documentary. These daring choices would be broken by two films belonging to a different period and taste: That Thing Called Tadhana (Antoinette Jadaone) and Muro-ami (Marilou Diaz-Abaya). Jadaone has one more film in the top 20 and that is the trenchant Six Degrees to Separation from Lilia Cuntapay. The film is about a bit player who specialized in aswang roles. The actress, Lilia Cuntapay, would see herself traveling abroad as her film got feted in festivals. In the Top 20 are two more documentary films: Kano and His American Harem (Coreen Jimenez) and Imelda (Ramona Diaz). The Diaz’s film is about Imelda, the infamous half of the conjugal dictatorship. The Top 10 reveals a fabulous listing: three

documentaries and seven feature films. Two documentaries belong to a pioneer female documentarian: Minsan Lang Sila Bata and Bunso. There is an almost forgotten, underrated work from Ditsi Carolino and that is Ang Pinakatagong Lihim ng Simbahan. The title is naughty but the documentary is not about the sexual abuses ascribed now to the Catholic church but its teachings about equality amid the prosperity and wealth of the institution. Baby Ruth Villarama’s watershed of a documentary, Sunday Beauty Queen was No.4. The documentary was adjudged winner of Best Film in the 2016 Metro Manila Film Festival, a rare feat for a documentary to achieve over feature films. Sunday Beauty Queen and Kano were Gawad Urian awardees for Best Documentary. The three films by Abaya in the top 10 are Brutal (No.8), Karnal (No.3), and Moral, which topped the survey. Minsa’y Isang Gamu-Gamo (Lupita Aquino Kashiwahara) was No.2. This was one of the films that began to establish Nora Aunor as a thespian of the first order and an actor identified with political films. Completing the Top 10 are Sana Maulit Muli (Olivia Lamasan) at No.10, Anak (Rory Quintos) at No.9 and Salome (Laurice Guillen) at No.5.

‘AMERICAN IDOL’ MAKES EPIC COMEBACK ON ETC THE iconic talent search for the next superstar lives on with the return of American Idol (AI) on ETC. With AI’s season premiere on March 4, fans and viewers were able to meet many amazing and inspiring individuals who graced the stage to let their voices and stories be heard. The cross-country auditions wrapped up successfully with more than 150 contenders securing their golden ticket to Hollywood. In the last episode, the dynamic roster of talented hopefuls geared up for the kick-off of Hollywood Week— also known as the “make-or-break” boot camp where contestants are narrowed down as they battle out in three challenging rounds: Lines of 10, groups and solos. While there was a solid lineup of impressive performances that night, unfortunately some contestants fumbled and let their nerves get the best of them. Some of those who failed to blow away the judges were Courtney Penry, Ashton Gill, Jade Flores and Colby Swift. As we head into Episode 7, this season’s crop of contenders gets whittled down to just 40. Will your favorites be able to stand out and deliver a performance good enough to make them stay? As the tension builds and the competition heats up, here are a few of the top reasons why you shouldn’t miss an episode of #AionETC:

Today’s Horoscope

AMERICAN Idol host Ryan Seacrest (from left) with judges Lionel Richie, Katy Perry and Luke Bryan 1. Outstanding talents are taking this season by the storm. The competition has just begun but there is no denying that the judges have found a dynamic and diverse batch of hopefuls who are all equally vying for American Idol legacy. Among those who notably advanced last episode were folk-country singer Laci Kaye Booth, whom pop judge Katy Perry dubbed as a “diamond in the rough”; Alejandro

Aranda, who wowed the judges and viewers with his original song “Out Loud” during his audition; Madison Vendenburg, who powerfully and suitably sang Kelly Clarkson’s “Already Gone”; and Jeremiah Lloyd Harmon, who beautifully sang an emotional rendition of Carole King’s “Beautiful.” 2. The fun-loving trio is back at the helm of the judges’ panel. Country superstar Luke Bryan joins pop

chameleon Katy Perry and R&B legend Lionel Richie once again as the judges this season. At their very core, the trio has a very charming and balanced chemistry. There are no assigned good guy or bad guy roles to play since all of them agree on offering only what the contestants truly need to improve their artistry: constructive and impassioned criticism that comes from the heart. Famed radio host and awardwinning personality Bobby Bones also came back as AI’s in-house mentor to help the contestants reach their fullest potential and become the stars they were meant to be. 3. There are more celebrity guests to look forward to. Your favorite pop culture staple has a lot of special guest performances in store. Season 16 finalists Caleb Lee Hutchinson and Catie Turner already made special appearances, and even winner Maddie Pope surprised the judges in the final round of auditions. Included in this year’s lineup of all-star duets are powerhouses Jason Mraz, Julia Michaels, Brett Young, Pat Benatar and Neil Giraldo, Cynthia Erivo, Lukas Graham, Ben Harper, Elle King, Chris Isaak, lovelytheband and Shaggy. Tune in on ETC to witness the journey of the next singing sensation who will continue the American Idol legacy. Catch it every Monday and Tuesday, 6 pm, via satellite with an encore telecast at 8 pm.

CANCER (June 21-July 22): Take a close look at what others are doing to see if there is something you can learn or gain if you participate. Time is precious, so use it wisely. Time spent with someone you love will be enlightening. ««

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LEO (July 23-Aug. 22): Make plans to do something new. Taking a day trip, making a personal change or checking out the possibility of a position or business opportunity that can improve your life will encourage you to expand your knowledge, experience and connections. «««««

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VIRGO (Aug. 23-Sept. 22): Draw on experience, and follow the path that encourages better relationships and doing things that bring you joy. Life changes will be enlightening and offer insight into new ways to swap what’s not working for what will. «««

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LIBRA (Sept. 23-Oct. 22): Emotions will be close to the surface, making it important to keep busy and to get into something you enjoy doing. The less time you have, the easier it will be to avoid someone who tends to be critical. «««

SCORPIO (Oct. 23-Nov. 21): Size up what you like about your life, the way you look and the people you associate with, and make some subtle adjustments. Love and romance are featured and will promote a healthy relationship. «««

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SAGITTARIUS (Nov. 22-Dec. 21): Spend more time at home. Set up a personal space dedicated to doing something you enjoy. Don’t let anyone use your talents for his or her benefit. If you are too trusting, someone will take advantage of you. «««««

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CAPRICORN (Dec. 22-Jan. 19): Control your emotions in order to bypass an altercation with someone close to you. Getting along will be half the battle, and an easygoing attitude and staying focused on doing your own thing are preferable. Personal physical improvement is favored. ««

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AQUARIUS (Jan. 20-Feb. 18): Consider ways to bring in more cash. An idea you have or a talent you want to develop can lead to a new enterprise. Clear a space at home to work toward your goal. A personal improvement plan is encouraged. ««««

PISCES (Feb. 19-March 20): Look past what’s going on around you. Take the initiative to start something new. A day trip or educational pursuit will lead to ideas that can help you move in a different direction. Personal gain is heading your way. «««

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BIRTHDAY BABY: You are energetic, impressionable and adaptable. You are outgoing and trusting.

‘three by five’ BY ROLAND HUGET The Universal Crossword/Edited by Timothy E. Parker

ACROSS 1 “Holy smokes!” 6 Help in crime 10 Heavenly body 13 Make into law 14 Day of old films 16 Outback hopper, for short 17 *Do a tour guide’s job (note the starred answers’ vowels) 19 Ghost psychic ___ Mae Brown 20 Campfire treats 21 Light controller 23 ___Pen 24 *Be a fashion icon 27 Brake rotor 29 Geological vein content 30 Camp beds 31 Feral 34 Plain folk 37 *Show persistence 40 Salad restriction 41 Collapsible accessory 44 “Como ___ usted?”

7 French article 4 49 Bollywood wrap 50 *Not quite reach 55 HBO competitor 56 Othello’s lieutenant 57 Dislike intensely 59 12 am and 12 pm 60 *Arrive with a few too many? 64 Brink of a celebration 65 Untrustworthy sort 66 Spine-tingling 67 Form a union 68 One pill a day, e.g. 69 Mark down, maybe DOWN 1 Tree that starts with Y 2 Losing traction, at Indy 3 Line judges? 4 Marc of fashion 5 Generals’ rank symbols 6 Builds on 7 Unpaid tech worker? 8 Notable span

9 What’s missing from “El Niño” 10 Balcony scene cry 11 Gnawing mammal 12 Rink boundaries 15 Comedy show segment 18 Born, in bios 22 Goodbye, ___ (1969 film) 23 Academic URL ender 25 Fishing vessel 26 Muscle car engine, informally 28 Short snoozes 32 “O Sole ___” 33 Green prefix 35 Addams cousin 36 HBO competitor, in TV listings 38 Metric weight, briefly 39 “Ouch!” 42 Yerevan is its capital 43 Nervous twitch 44 Abstain from 45 Completely stop funding, say 46 Got rid of 48 Gospel author

1 Takes a load off 5 52 Beagle, for one 53 Alley-___ 54 Sound engineer’s control 58 Genealogy chart 61 Rock’s ___ Speedwagon 62 “Daughters” rapper 63 Beer dispenser Solution to yesterday’s puzzle:

Parentlife BusinessMirror

Thursday, April 4, 2019

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Reality parenting: Where discipline starts—Part II FROM left: Marcus, in one of our weekend Make-OurOwn-Pizza activity, shows his orderly inclination in wanting his pepperonis shaped like a dice; these self-taken Photo Booth photos show Meagan’s quirky self; Marcus’s early love for puzzles actually allowed me to teach him patience and Marvel characters at the same time.

MOMMY NO LIMITS

MAYE YAO CO SAY mommynolimits@gmail.com

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AST week, I shared my view on the subject of child discipline relative to “reality parenting.” This week I hope to put the concept in more practical terms. What is discipline for you as a couple? I believe this is a good starting point. My husband and I were struggling with this for years. My firstborn was quite headstrong as a toddler. When she misbehaves, facing the wall was not helpful. She would just calmly peek through from the corner. I would try to be firm, but felt helpless. I recognized my daughter’s character and did not want for her to lose her individual spirit. I remember feeling so stressed every time we would have our Sunday mornings together. Her teacher in Montessori called my attention on how Meagan had trouble respecting

authority. She warned me that if Meagan does not learn to respect authority, this might stifle her learning because she would, in the future, also not listen to her teachers. This was a wake up call. I personally realized that discipline’s purpose was beyond the concept of raising a well-behaved child. Meagan was around 3 years old at the time. I knew I had to be firmer. This was hard because Meagan is a “screamer.” One time we were in a mall with my dad and sister, and Meagan refused to do something and laid on the floor, screaming at the top of her lungs. I stood there with all the “judgy” eyes. I told Meagan, “Nothing is going to happen. You will not get want you want.” She continued to cry for at least 10 minutes. I guess when she realized no one was going to yield, she stopped on her own. As a couple, we decided that discipline for us is not just about obedience. It was and is a tool for us to raise happy and fulfilled children. It would be a guide for our kids to learn accountability early on with the hope of them reaching their own goals in the future. When I asked Meagan this weekend how she at 12 feels about how we have disciplined her so far, she said she felt it was effective because she believes she would not have reached her high grades and sports achievement if we did not instill discipline in her. Below are some tips on discipline that I found useful: n START WITH A RELAXED AND GROWTH

MINDSET. Each child is unique. Take a deep breath and know from the start that there is no one right and rigid way to discipline our kids. In fact, throw judgment out of the window. Accept that there are a million ways to get there. All of us learn along the way. The important thing is we commit to participate in our child’s life; we commit to utilize the best discipline style needed at each point in time; and we commit to never give up on bringing out the best in our children. n KNOW YOUR CHILD’S PERSONALITY. For me, playtime is the best time for this discovery. When they were babies, I researched specific play activities which I routinely did with them. I loved seeing my kids learn through play and more so, I loved discovering my kids’ skills and personalities through the process. When they got older, we had game nights and activities every weekend. This was a way for me to get into their world so when discipline is needed, I am able to speak the language based on what I know they value the most. Aside from this, we found it helpful to share to our kids our own positive stories on how we were disciplined in the past. My husband shared how he wore local rubbershoes even when he was a top pointer in basketball. He said he valued his first Nike so much more when he received one in high school. When Meagan started with basketball, we explained and started her with basic low-cost shoes first. As

she got better, I offered to buy her better shoes, but she said there was no need. It was only when she won her first basketball championship that she felt it was time to buy her dream Under Armour Stephen Curry shoes, but she specified to look for it at a discount store in the US. n BE FIRM AND UNCONDITIONAL. My husband’s favorite phrase is “follow through.” If we lay out a consequence, we need to push through with it. No rationalizing with external excuses. After the follow through, it is always best to let our kids know that our love is unconditional. We tell them the reality that it is actually easier for us to give in but we exert that effort for their future. More than this, we utilize these “teaching moments” to let our kids realize and actually appreciate both their strengths and weaknesses. I love seeing their individuality come through. We remind them that win or lose, right or wrong, our family will be there to provide honesty and guidance. Discipline has grown in definition from when we were growing up. This evolution leaves parents at a constant quandary if we are doing right by our kids. Whatever or however our discipline styles turn out, I firmly believe “discipline” is critical because it guides our kids to their rightful path. The task is not glamorous or immediately rewarding. The key is not to tune out, but be there—unconditionally.

Hawaii eyes flavored e-cigarette ban to curb teen vaping By Audrey McAvoy The Associated Press

HONOLULU—The first state to limit tobacco and electronic cigarette sales to people 21 and older is contemplating a new nicotine crackdown: outlawing flavored electronic cigarette liquids and flavored tobacco to combat a spike in teenage vaping. Hawaii would be the first state to adopt such a ban under a bill before the Legislature. San Francisco was the first US city to do so. The proposal would ban flavored e-cigarette liquids, such as Maui Mango and Cookie Monsta, along with cloves and other flavored tobacco products, but it would exempt menthol cigarettes and vaping liquids. Supporters aim to make e-cigarettes less alluring to teenagers as studies show increasing numbers of high-school and middle-school students are becoming addicted to nicotine through vaping. “They look at cigarettes and they say, ‘Cigarettes are disgusting. Tobacco is disgusting,’” said Trish La Chica, an advocate and lobbyist for

the Hawaii Public Health Institute. “So take away the cotton candy, take away the flavors that look like they belong in an ice cream shop, and they wouldn’t be attracted to start in the first place.” Battery-powered e-cigarettes typically heat flavored nicotine solutions into an inhalable vapor. They’re more popular among teens than regular cigarettes, and most experts agree they’re less harmful than cigarettes because the vapors don’t contain tar and other cancer-causing byproducts of burning tobacco. But there is virtually no research on the long-term effects of the chemicals in the vapor, some of which are toxic. And some researchers believe vaping will make kids more likely to take up cigarettes. The US Food and Drug Administration earlier this month proposed restricting sales of most flavored tobacco products to stores that verify the customer’s age upon entry or include a separate, age-restricted area for vaping products. The FDA said it would prioritize removing vaping products that clearly appeal to kids, such as those with packaging that resembles juice boxes, candy or cookies.

SERVICIO Filipino Group of Companies and Iowa, USA-based Kuder Inc., together with SFI Career Center, a subsidiary of Servicio Filipino, recently launched the Career Planning System for the Philippines, which the two companies call a “Partnership for Progress.” The partnership between the two companies hopes to develop a competencybased training curriculum to help increase the number of competent career practitioners in the Philippines through its professional development portfolio. The partnership also aims to provide basic career development services and specialized training for licensed career practitioners by using Kuder to address the issue of lack of licensed counselors. Kuder may also be used to guide parents, teachers and school counselors to help provide career guidance to children and students. Shown in photo holding the partnership agreements signed during the launch are (from left) Gina Jusay, managing director of SFI Career Center; Luis “Lloyd” Anastacio, president and CEO of Servicio Filipino; Bailey Rowell, vice president of international business development, Kuder Inc.; and Joyce Tham, client relations manager for Kuder Singapore.

Students testified to Hawaii lawmakers last week that their classmates were vaping in bathrooms and isolated corners of campus. Some teens post social media videos of themselves exhaling plumes, the students said. “I can’t keep on walking into the bathroom at school and get hit in the face with a vape cloud that smells like cotton candy and not be able to work the rest of the day because of a headache,” said Paige McCurdy, a sophomore at Kapolei High School near Honolulu, in testimony at the Legislature. “It is affecting students, and it just needs to stop.” A 2017 Hawaii Health Department study found 16 percent of middle schoolers and 26 percent of high school students were current users of e-cigarettes. The number of high-school students experimenting with vaping jumped four-fold between 2011 and 2015, the study said. The National Youth Tobacco Survey found youth vaping surged 78 percent between 2017 and 2018 across the US. Hawaii’s health agency said teen vaping is particularly concerning because nicotine in adolescents can disrupt the growth of brain circuits that control attention and learning and lead to increased impulsivity and mood disorders.

Career-planning system launched

START your day right with a nutritious and tasty breakfast.

Look forward to better, healthier days A NUTRIENT-RICH breakfast can help power you up, keep you energized and focused throughout a busy day. One of the country’s largest food and beverage companies, Universal Robina Corp. makes sure you start your day on the right track with a healthy meal partnered with the wholesome goodness of Vitasoy Plus. The delicious soy milk offers the calcium benefits of regular milk with additional nutrients. It has high amounts of vitamin D, which is important in building and maintaining stronger bones. Each serving (glass) of Vitasoy Plus provides 50 percent of your daily calcium and vitamin D requirement. It is also an ideal companion of fitness and wellness enthusiasts as it has zero cholesterol and is low in fat. Filipinos who are lactose intolerant yet still want to get a taste and enjoy the benefits of milk can treat themselves to the healthy beverage. It is lactose-free, made from high quality non-GMO soybeans, and has no added preservatives which makes it the ideal breakfast partner to keep you strong and healthy. Incorporate a cold glass or warm cup of Vitasoy Plus—available in in Original and Oat flavors—in your active routine now. With its delightful taste and nutrients, this plant-based drink can help build stronger immune systems so you can do more and live more. Vitasoy Plus is produced by Universal Robina Corp. in partnership with Hong Kong-based Vitasoy International Holdings Ltd.

Who can nominate?

Professional level: Entries may be submitted by any person or organization wishing to direct

the attention of the CMMA to a meritorious program, series, article, material and the like. A person or a company may submit more than one entry in each category. Entries need not be Christian and nominees need not be Catholics. All entries must be those media works released from May 2018 to April 2019.

Student level: All bona fide students enrolled in any of the participating schools, colleges and

universities within the school year 2018-2019.

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✦2019 Jaime Cardinal Sin catholic Book Awards✦ I. Awards CATEGORIES ✦ Spirituality ✦ Ministry ✦ Theology ✦ Liturgy ✦ Youth ✦ Homiletics ✦ Inspirational ✦ Children

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submit entries FOR CSCBA at: cardinal sin catholic book Awards secretariat c/o Jesuit Communications Foundation, Inc. Sonolux Bldg., Ateneo de Manila University, Loyola Heights, Quezon City Tel. Nos.: (632) 426-5971 loc 112 DEADLINE of submission: May 31, 2019 (With printing May 1, 2018-April 30, 2019)

For inquiries please write or call: The CMMA Secretariat Office: 5/F Dominga Building III, 2113 Chino Roces Ave., corner Dela Rosa Street, Makati City Tel. No.: 892-4779 g Telefax: 867-4026 E-mail: thecatholicmassmediaawards@yahoo.com Facebook: www.facebook.com/OfficialCMMA Starting March 18, 2019

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submission of entries FOR CMMA: Student— FEBRUARY 18 TO MAY 10, 2019 professional—February 18-May 17, 2019

Envoys&Expats BusinessMirror

www.businessmirror.com.ph | Thursday, April 4, 2019 E1

TELLING IT LIKE IT IS

PHL’s top diplomat captivates the world with his wit and words of wisdom

By Recto L. Mercene

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@rectomercene

O say that Foreign Affairs Secretary Teodoro “Teddyboy” Lopez Locsin Jr. thrives in controversy is an understatement. In fact, he glories in it; it is his lifeblood—the spirit that animates him; the elixir that gifted individuals find nourishment from; the “high” from intellectual jousting and sparring, because he is, to many, without peer in this regard. Like fish to water, it is in this environment where he is in his best element. Consider Locsin as the enfant terrible of Philippine society, whose ranks of mental giants seem to have been decimated by attrition, mongrelized by interbreeding, or waylaid by abundance of booze and indolence. That he now occupies one of the most powerful spots in the government’s hierarchy is long overdue. If politics is the art of compromise, Locsin would dare not engage in such. Integrity and stark honesty are his family’s hallmarks—him being the son of the much-revered prominent newspaperman and

publisher (and obviously, his namesake) Teodoro Sr. of the Philippine Free Press. The senior Locsin was a distant star: brilliant, but unreachable; while the son is a much nearer celestial body. But just like the myriad of mysteries of the universe, Locsin is oft misunderstood. Filipinos appear to miss his point as he rubs many of them in an opposite manner. Simply because he tells it like it is, while natives would hazard to beat around the bush. Case in point: Just scroll through his Twitter feed, and one might come across expletive-laden posts, both in the vernacular and in English, just to prove a point or emphasize his side. But beneath his offensives is the longing for clarity and, as he says, for “emphasis.” He does not obfuscate. Schooled in classical learning and history, his regular columns

from the defunct Daily Globe, Today and currently with the BusinessMirror (“Free Fire,” every Wednesday) are gems. He touches on all topics under the sun, conveyed in luminous prose. This author opines it should be required reading in many journalism schools. At times he could be bawdy, and sometimes swears worse than a drunken sailor. Sen. Ralph G. Recto nailed it when he said Locsin carries with him a rare combination of being able to “quote the classics, but can curse like a stevedore.”

Without the overcoat

UNDERNEATH his ultra-dignified mien, the Philippines’s top diplomat is unbelievably funny. When a foreign “DIY” firm’s “racist” advert was criticized for showing an Asian woman sniffing dirty laundry with glee, Locsin tweeted: “Oddly, the magazine Der Spiegel published in the 1960s what became a widely celebrated article on the habit of German men never to wash their underwear until it fell to shreds. I think that woman would have died if she had inhaled it from a plastic bag.” Locsin is generous to a fault, praising fellow travelers who share his outlook, calling many times this newspaper’s resident columnist John Mangun a genius for asking, among other things: “Which cost more: the

Chico River irrigation project, or the SM Mall of Asia Arena?” At the UN General Assembly when he discoursed on climate change, the secretary said: “Either the podium was low, or I’ve made myself taller by sheer will power.” This author’s fellow bonsai enthusiasts crack up whenever he shares an anecdote of the Department of Foreign Affairs chief joking that the wife, tending a bonsai, has killed many of the small trees more than those who lost their lives in World War II (with apologies to Mrs. Locsin). As a former publisher, Locsin is the most generous person to underlings. He rewards good work, although he has a nose for sniffing corruption. One way or the other, one would know that he is aware of indiscretions, and that the accused must be ready to defend his or her honesty and integrity—if they ever existed in the first place. There are legions of accounts that surround Teddyboy (a nickname he hates because, according to him, it sounds lame for a man who is ready to give his life for a just cause) for his willingness to physically slug it out to defend honor and convictions. Locsin admitted to carrying a gun at the height of the 1986 People Power Revolution. For a while he was escorted by armed bodyguards

because, admittedly, he was simply too much of an annoyance in a society where greed, corruption and lust for power used to assert themselves—ever the killjoy who would prevent the aforementioned from happening. It is said that at the height of one of nine rebellions that attempted to grab power from then-President Corazon Aquino, Locsin had a hand in convincing the Americans to provide airpower by scrambling an F-4 fighter jet from Clark Air Base. The American pilot made ominous flybys around Metro Manila to warn rebels of the dire consequences of their attempt at a coup d’état.

Public servant

THE 70-year-old Locsin is a politician, lawyer, a former journalist and now the country’s top diplomat who once served as a representative for the First District of Makati from 2001 to 2010. He was the Philippine ambassador to the United Nations from 2017 to 2018—a brief stint where the erudite and eloquent speech writer for three presidents seemed bespoke to the post. A primus inter pares, one could say: a first among equals at the UN. But the call of country he could not defy, and the former host of the editorial segment entitled Teditorial for ANC’s nightly newscast, and

The World Tonight accepted the post in October 2018. On his first working day at the DFA, the secretary immediately waded into deep waters, so to speak, as he stated where the country stood by way of an independent foreign policy. According to him, he was improving on a previous policy of his predecessor Alan Peter S. Cayetano: “It is a refinement of the earlier one which stood us in good stead: ‘Friends to all, enemies to none.’ But we are moving on to a refinement [that] addresses changing realities. It is now: ‘Friends to friends, enemies to enemies, and worse enemies to false friends.’ He said he is not reinventing the wheel at the DFA; rather, it was “just to grease it and steer it away from potholes and ravines. I shall continue to implement the President’s directive to provide a ‘comfortable and secure life’ for all Filipinos, in every aspect of the country’s diplomacy and foreign policy.” “It is not [an] independent foreign policy if you simply switch the master before whom you are kneeling [at]; you are still on your knees. Independent foreign policy means getting off your knees and on your feet and standing up for our country. That is true independence.” Continued on E2

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AT THE WORLD STAGE

DFA chief: ‘Time for climate action is now’ F

OREIGN Affairs Secretary Teodoro L. Locsin Jr. called for immediate action on addressing climate issues at the high-level meeting on Climate and Sustainable Development for All on March 29 at the General Assembly of the United Nations in New York. “If climate action does not measure up to what is needed, we all face the same fate of diminished existence, or extinction altogether,” he said. Locsin pointed out that climate change is happening, its effects as bad as anticipated, and faster than estimated. He noted that while the Philippines has put in place effective programs for more accurate and integrated disaster anticipation, prevention and adaptation to cope with climate change. He averred that what is needed is action by major carbon-emitting countries. “If the most capable and able will not do more to slow and halt climate change, most will eventually stop talking about it and let climate change run its full

and fatal course: [risking] the desertification or inundation of our planet; the starvation and extinction of populations; and the end of everything worthwhile attained by human ingenuity,” the secretary added. The theme of the meeting was “Climate Protection for All: Protection of the Global Climate for Present and Future Generations of Humankind in the context of the Economic, Social and Environmental Dimensions of the 2030 Agenda for Sustainable Development.” It was convened through the president of the General Assembly’s 73rd Session Maria Fernanda Espinosa Garcés to highlight interlinkages between climate change and the Sustainable Development Goals, as well as to promote an

SECRETARY Teodoro L. Locsin Jr. speaks before the UN General Assembly high-level meeting on Climate Change and Sustainable Development for All. UN/MANUEL ELIAS

intergenerational approach to climate action. UN Framework Convention on

Climate Change Executive Secretary Patricia Espinosa, Fiji Prime Minister Josaia Voreqe Bainima-

rama and Poland’s Environment Minister Michal Kurtyka, as well as Chile’s Environment Minister

Carolina Schmid, presidents of the UNFCCC’s Conference of Parties, all addressed the meeting.

PHL cosponsors resolution on combatting terrorism financing

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FFIRMING the country’s commitment to fight terrorism, Foreign Affairs Secretary Teodoro L. Locsin Jr. announced the Philippines’s cosponsorship of United Nations Security Council (UNSC) Resolution 2462 on combating the financing of terrorism. Speaking before the UNSC on March 28 at the UN in New York, Locsin emphasized that “money is the lifeblood of terrorism,” and highlighted Philippine initiatives to combat the illicit financing of terrorism. He said that the country has, by law, defined “terrorist financing as a separate crime, and is working on amendments to the Human Security Act to address the exploitation of cyberspace for terrorism.” The Philippines has likewise adopted the 2018-2022 National Anti-Money Laundering and Coun-

tering the Financing of Terrorism Strategy. The head of the DFA noted that while remittance agencies have been used as a channel for terrorist financing, the challenge is to balance the requirements of counterterrorism and the needs of overseas Filipino workers, as remittances account for 9.8 percent of the country’s gross domestic product. Locsin also cited the need to monitor funds going to nonprofit organizations and the relationship between terrorism and the illegal drug trade. He noted the Philippine counterterrorism efforts are anchored on respecting human rights because of the country’s overriding responsibility to protect the law-abiding against the lawless, and the innocent against those threatening their safety and well-being.

THE Philippine delegation at the UN Security Council headed by Foreign Affairs Secretary Teodoro L. Locsin Jr. (left) at the open debate on combating the financing of terrorism. UN PHOTO/ESKINDER DEBEBE

PHL’s top diplomat captivates the world with his wit and words of wisdom Continued from E1

Pro-Philippines, -Filipino

BECAUSE of his contrarian nature, Locsin seems hard to decipher. Many think he is another “Amboy (American boy),” a mestizo who studied in America to promote American values here. During the visit of US Secretary of State Mike Pompeo to Manila in March, the current head of the DFA stated: “We shared the view that the alliance must be able to ensure the unfailing mutual defense of our two countries, an arrangement that has contributed to regional peace, freedom, stability and prosperity since it was formalized.” “The key word is ‘mutual.’ We have our end to hold up as well, and we need the means to do that from the US.” To further quote him: “Some seek review of the MDT [Mutual Defense Treaty]. This requires further thought. In vagueness lies uncertainty; a deterrent.... Specificity invites evasion and actions outside the MDT framework. But too much vagueness lends itself to doubt the

firmness of commitments. For the time being, helping the Philippines build up our self-defense capacity should do it. Pompeo and I agreed that it was in both our countries’ interest to ensure the alliance effectively addressed other nontraditional security issues such as, in addition, humanitarian assistance, disaster relief and, above all, the fight against human trafficking.” On a visit to China just a few days ago, Locsin heaped praises on the Communist Party of China (CPC). “We are on the cusp of a new world that will be the envy of history, because it will be a reversal of the usual history of national selfaggrandizement resulting only in international confrontation which characterized the great powers of the past—producing little of lasting value at so much greater regrettable cost,” he said. Locsin was on a four-day visit to Beijing when he made those remarks before his counterpart, State Councilor and Foreign Minister Wang Yi. He praised the CPC for providing a “single hand” direction that led to what their country has achieved.

The Philippine envoy said no other institution anywhere in the world could do what the CPC has done, which is providing a hand that is “absent in Western democracy.” “The party’s repeated self-criticism and self-reformation, especially against the corrosive effect of corruption on legitimacy, have assured [its] continuing credibility, vibrancy and relevance as China’s driving force. There is no substitute for it: It is democracy married to reason and animated by self-sacrifice.” To those who know him well enough, however, the country’s top envoy is biased to no country; but rather, he is pro-Filipino.

Lawyer and more

LOCSIN is the kind of lawyer who can hold two opposing ideas in his mind—leaving enough room for some more—and defend both sides with eloquence and persuasion. He was blunt as when slammed the International Criminal Court for threatening to investigate President Duterte on his no-nonsense war against drugs—a hallmark of the chief executive’s campaign promise.

While still the permanent representative to the United Nations, Locsin in October 2018 submitted the Philippines’s letter of withdrawal from the Rome Statute of the ICC. The March 15 communique said the country’s decision to withdraw from the treaty that established the ICC was a “principled stand against those who politicize and ‘weaponize’ human rights.” The Filipino diplomat also responded to critics of the country’s reelection bid to the UN Human Rights Council. “Rights groups want to limit [a] state’s responsibility to protect the law abiding against the lawless, to just protection of the lawless, like drug cartels. We’d like to oblige, but we can’t. But we’re happy the drug trade has champions; everyone needs to have its side aired. “If it quacks like a duck, walks like a duck and effectively protects the drug trade, isn’t it part of the trade or on its payroll? We’re not talking about ethnic, religious or political minorities, but those who made the now-fatal, criminal-career choice of dealing drugs,” he said.

Locsin frequently uses social media as a platform to air his views, for which he has been called to account. But he has always kept abreast of the latest technological developments. His savvy-ness on Twitter has earned the acknowledgement of San Juan Representative Ronaldo B. Zamora. As early as 2016: “To millennials…he is Twitter’s rock star; the irrepressible uncle of Makati, whose lacerating wit pricks both the ego of the ruler, and the conscience of the ruled.” In his new assignment, Locsin brings to the table his other experiences in the following roles, based on his profiles on both the DFA and the UN web sites: lawyer at the Angara Abello Concepcion Regala & Cruz Law Offices; executive secretary to the late business magnate Don Enrique Zobel in the Bank of the Philippine Islands and Ayala Corporation; director of San Miguel Corporation, the United Coconut Planters Bank, the Philippine Long Distance Telephone Company, Asian Terminals Inc., and STI; lecturer at the War College, the naval postgraduate school

under Professor Claude Buss, and various international forums; host and coanchor of segments and shows on TV and radio, including Assignment, Points of View, Executive Session and Karambola; editorial writer of the Philippines Free Press; and teacher at the San Beda Graduate School of Law. At the House of Representatives, he was the coauthor of the Anti-Money Laundering Law, the Anti-Terror Law, the Dual Citizenship Act, the Overseas Voting Act, the Automated Election Law and other laws concerning banking. The current DFA chief was born in Manila on November 15, 1948. Locsin studied in Ateneo de Manila University where he obtained his bachelor’s degree in law and jurisprudence. He also holds a Master of Laws degree from Harvard University. During the Mission: PHL, theBusinessMirror’s Envoys&Expats Awards, Locsin will be the recognition event’s keynote speaker, as he will be among government officials who will present trophies to distinguished embassies and development-aid agencies.

BusinessMirror Special Feature

www.businessmirror.com.ph

Thursday, April 4, 2019 E3

International women’s day summit at SM Aura premier

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N line with the International Women’s Month celebrations, SPARK! Philippines, the Embassies of Austria and Sweden, the United Nations Population Fund (UNFPA) held the International Women’s Day Summit 2019 at the Samsung Hall of SM Aura Premier.

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The event, which drew together members of the diplomatic corps and various focus groups highlighted talks and workshops on challenges women face daily such as ending gender-based violence, economic empowerment, and being taken seriously in industries that are dominated by men. In line with this, the group also mounted the The #DontTellMeHowToDress Exhibit at The Podium. The hashtag was adopted from Thailand’s movement of the same name, which was inspired by other global movements like #MeToo and #TimesUp, which aim to encourage women to step forward and rise against gender-based violence.

1 HE Ambassador Harald Fries of Sweden

and Mme. Susan Fries

2 Victoria Garchitorena, Founding Trustee and Chairperson of SPARK! Philippines

3 HE Ambassador Michel Goffin of Belgium

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4 Hans Montenegro; Kat Alano, founder of Empower; Atty. Maria Roda Cisnero, Program Officer, Law and Human Rights of the Asia Foundation, Amina Rasul, President of Philippine Center for Islam and Democracy; Dr. Sylvia Claudio, Dean, College of Social Work and Community Development of the University of the Philippines 5 Lt. Col. Jan Chavez-Arceo of the Armed Forces of the Philippines; Cherrie Atilano, Founder and CEO of AGREA 6 The #DontTellMeHowToDress Exhibit at The Podium

7 HE Ambassador Bita Rasoulian of

Austria with Iza Calzado

8 Mme. Parvati Mazumdar of India with HE Ambassador Bita Rasoulian of Austria 9 Gerardo Regalado, Head of Cultural and Media Affairs, Mexican Embassy 10 Carmel Valencia, Country Lead for Corporate Communication, Public Affiars, and Sustainability for L'Oreal Philippines 7

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11 HE Ambassador Rodrigo do Amaral

Souza of Brazil with Counsellor Fernanda Maria Soares dos Santos

Envoys& BusinessMirror

E4 Thursday, April 4, 2019

Mission: PHL – recognizing, giving

Continued from A1

The recognition event, which will culminate on the evening of April 4, was a product of ingenuity, perseverance and determination by the men and women of the BusinessMirror, who endeavored to create a platform that will bring to the public’s attention the commendable and, perhaps, at times, overlooked efforts by the diplomatic community, as well as bilateral and multilateral agencies that have benefitted the Philippines in recent times. Mission: PHL is a brainchild of Psyche Roxas-Mendoza, the managing editor of the Philippines Graphic, one of the sister publication of the BusinessMirror. A veteran journalist, Roxas-Mendoza has covered, among others, the countless participation of the Philippines’s “countryfriends,” as well as international entities that have played an integral role for the nation’s march toward progress. She noted that a number of these global partners have either decided to announce their Philippine-based projects to the media, or just silently went on to proceed with their ventures and just be enjoyed by their immediate beneficiaries. In early 2017, Roxas-Mendoza pitched the idea to BusinessMirror Publisher T. Anthony C. Cabangon. He shared the exact sentiments, with the thought that it would have received the blessings from the late Antonio L. Cabangon Chua, chairman emeritus of the Aliw Media Group and himself, an ambassador of the Philippines to Lao PDR. Cabangon and Roxas-Mendoza were in agreement of the concept, and decided that the platform would be the Envoys&Expats section of the broadsheet, which documents and chronicles the goings-on of the diplomatic community in the Philippines, as well as the expats that lead the development agencies that hold offices and operate locally.

‘Mission’ is set

FOLLOWING numerous internal meetings among the management committee and editors of the BusinessMirror, as well as the provision of inputs from its reporters, Mission: PHL had its launch in March 2018 before the presence of ambassadors, executives of aid agencies, as well as leaders of government.

Thus was set into motion the coordination meetings with various government agencies that shared the objectives of Mission: PHL. One of the first to come on board, and quite logically, was the Department of Foreign Affairs. The team of Roxas-Mendoza was referred to Assistant Secretary Eduardo J. Malaya Jr., who had helped ideate the manner of conduct of the awards. Malaya is one of the members of the panel of Mission: PHL. The core team was also directed to collaborate with the National Economic and Development Authority, whose leaders and officers led by Director Hazel Iris Baliatan provided guidance on the general reckoning of the nominees of the awards; particularly, their adherence to the Philippine Development Plan 2020, which will ultimately lead to the realization of the country’s 10-point socioeconomic agenda. Also agreed upon in concurrence with Neda was that the government agencies will involve in their judging the foreign-assisted projects that are already activated and on ground as of December 2017, regardless of the time the projects have been in place. It was agreed upon that both embassies and bilateral as well as multilateral aid agencies would be bestowed recognitions separately by various departments. The Mission: PHL team pursued quite a number of government agencies to take part in the recognition endeavor. In the course of “selling the idea” to the departments, the presentation of the concept was welcomed warmly by a good number of them. The rollout, though, was not without challenges, as a handful were either undergoing a change of leadership, or at that time encountering pressing issues that required complete attention of their key officers. After about a year’s worth of constant coordination and collaboration, eight government agencies embraced the noble nature of Mission: PHL. They were, according to their onboarding to the undertaking, the Departments of Environment and Natural Resources, Agriculture, Trade and Industry, Science and Technology, Public Works and Highways, Transportation, Tourism, and Education.

Government collaboration

FIRST in order were the individual signing of memoranda of agreement, which covered the terms of

the partnership between the BusinessMirror and the individual agencies. An important element in the agreements was the creation of technical working groups (TWGs), comprised of two representatives per agency and an editor of the newspaper who oversees the concerned sector. Next was the creation of a set of customized criteria, which the government agency deemed appropriate in judging the projects of embassies and aid agencies. What followed were a series of meetings by TWG members, which studied individual projects of embassies and aid agencies that fulfilled the initial requirement of those ongoing by yearend of 2018. They proceeded to craft unique sets of criteria that the government agencies deemed appropriate to projects under their watch. Each meeting saw the active involvement of representatives from Alas Oplas & Co., the official audit partner of Mission: PHL, responsible for the proverbial “number crunching” and tallying of the values per criteria. Members of the panel were also named. Joining Malaya and Baliatan were representatives of various sectors of society: former Executive Vice President of the European Chamber of Commerce Henry Schumacher, who represented the private sector; coordinator Filomeno S. Sta. Ana III of the Action for Economic Reform from the side of the civil society; President of the Asian Institute of Management Dean Jikyeong Kang for the academe; Cristina Marie G. Aquino of the youth sector; and columnist John Mangun for the BusinessMirror. The main task of the panel was to provide guidance and recommendations to the conduct of the TWGs, as well as to determine the “Embassy of the Year” and the “Aid Agency of the Year” which followed after the final submissions of results from the individual government agencies. While these were unfolding, organizers also conducted active nominations from members of the diplomatic community through their submissions for the “Project of the Year.” The entries forwarded to the Mission: PHL Secretariat by October 2018 were included for judging by the members of the panel. Continued on E6

&Expats

envoys.expats.bm@gmail.com | Thursday, April 4, 2019 E5

g thanks to the global community

Envoys&Expats BusinessMirror

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www.businessmirror.com.ph

BusinessMirror Publisher T. Anthony C. Cabangon and Socioeconomic Planning Secretary Ernesto M. Pernia at the memorandum of agreement (MOA) signing between the broadsheet and the National Economic and Development Authority

FOREIGN Affairs Assistant Secretary J. Eduardo Malaya and Mission: PHL Special Projects Director Psyche Roxas-Mendoza formalize the participation of the Department of Foreign Affairs as a member of the panel.

PARTNERSHIP sealed with the Department of Tourism, led by Secretary Bernadette Romulo Puyat (third from right) and officials of the DOT

ONE of the first technical working groups (TWG) to be formed was that of the Department of Agriculture, spearheaded by Assistant Secretary Lerey A. Panes (second from left).

THE Department of Public Works and Highways’s TWG huddles were convened by Assistant Secretary Maximo L. Carvajal (third from left).

A TWG session with the Department of Environment and Natural Resources, led by Angelita P. Meniado (third from right), overall coordinator of foreign projects

THE Department of Science and Technology’s TWG members were under the helm of Assistant Secretary Dr. Leah J. Buendia (right).

ONE of the TWG meetings at the Department of Trade and Industry with Atty. Roberto B. Mabalot (second from right)

MOA signing with the Department of Transportation represented by Undersecretary for Finance Garry V. de Guzman (left) and former editor in chief of the BusinessMirror Jun Vallecera

Mission: PHL–recognizing, giving thanks to the global community

MISSION: PHL was formally launched on March 2018 before members of the local diplomatic corps, top officials of government agencies, executives of the Aliw Media Group, local media, as well as clients of the BusinessMirror. Continued from E4

Mission: PHL also gained ample support from corporate sponsors, such as SM Aura-Samsung Hall as the official venue, R&A Events Specialist for the overall management of the recognition event, as well as Megaworld, Emperador Inc., Frederique Constant-Geneve, Sharp Phils., City Garden Grand Hotel-Makati (venue of the launch), Raffa Sparkling, Barefoot Wines and Unilab, among others.

Stage is set

AFTER more than a year’s worth of coordination and collaboration with government agencies and other partners, Mission: PHL is set to announce the noteworthy endeavors that have substantially benefitted Filipinos all these years, through the embassies and aid agencies that have generously assisted the country. As portrayed by the trophies that will be handed out, indeed, man does not ex-

ist by himself or his lonesome, but rather through his fellow human beings whom he shares the world with. Through Mission: PHL, it is hoped that, in its own, humble way, the BusinessMirror was able to express the gratitude of an appreciative nation to the global community. As the broadsheet plans to stage more of the recognition event in the future, it could declare, for the time being, that the undertaking was “mission: accomplished.”

www.businessmirror.com.ph

BusinessMirror Special Feature

Thursday, April 4, 2019 E7

MIAS A BusinessMirror Special Feature

Project Manager: Rodel Suarez

MANILA INTERNATIONAL AUTO SHOW www.businessmirror.com.ph | Thursday, April 4, 2019 F1

EXPERIENCE FUN AND FUNCTION AT M.I.A.S. 2019

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OW on its 15th edition, the Manila International Auto Show (Mias) further elevates the way Filipinos travel with a presentation that will enable one to “Experience the Fun and Function” of the latest and most impressive auto and motor innovations. Recognizing the two primary reasons that compel consumers to visit car shows, this year’s Mias vows to offer visitors with an entertaining trade-show experience and, likewise, provide them with an insightful and productive look into the latest trends from the industry. Far from your typical car show, the Mias has always been known not only for its spectacular car launches and product displays, but also its exciting array of pocket events that give auto enthusiasts countless opportunities to bond with their friends and families. If last year’s

Mias managed to house 150 companies, a whopping number of 305 car displays, 34 truck displays, and 12 motorcycle displays, visitors can expect to find a bigger and more staggering number of displays at this year’s show. What’s more is that the Mias is gearing up to showcase several highlights that car junkies can truly watch out for. Among these include the various car-club displays that will be launched to the public at the World Trade Center driveway. Meanwhile, addressing the growing demand for commercial vehicles and large

trucks, the Mias 2019 is also thrilled to return with its truck display which is at the north wing side of the venue. Collectors are invited on this year’s miniature die-cast car-collection display. For those who are looking to make new automotive purchases or simply experience what it’s like to ride out the latest car models, the Mias will also be conducting test drives outside of the venue’s main hall. A signature component of all Mias shows, back to carr y out a series of mind-blowing stunt per formances is Guinness World Record holder Russ Swift with his trusty Subaru cars. This year’s Mias teamed up with Petron for another round of the classic car competition, which is expected to feature over a hundred of entries of the most creatively executed car setups. Hailed as the country’s most anticipated car and motor show in the country, the 15th Mias 2019 is happening from April 4 to 7, from 10 a.m. to 10 p.m. at the World Trade Center. For more information, visit manilaautoshow. com or follow Manila International Auto Show on Facebook and on Instagram @Mias.ph.

MIA

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Thursday, April 4, 2019 | www.businessmirror.com.ph

FALL HEAD OVER HEELS WITH THE

HOTTEST CARS AT M.I.A.S. 2019

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S summer goes into full swing, there are countless reasons for people be into the mood for fun and excitement. And as the weather heats up, so does everyone’s eagerness to explore and experience new things.

But for car lovers and motor enthusiasts, nothing triggers their enthusiasm more than the chance to get up close and personal with the latest car launches of the season. Now on its 15th year, the much-anticipated Manila Inter-

national Auto Show or Mias 2019, is back to host another explosive event that will surely stir-up the thrill among automotive junkies. As a little teaser for what’s in store, here’s a roundup of the hottest cars that will be showcased at Mias 2019 this April.

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Special Feature

Kia Soluto

THE Kia is first model to be launched under new distributor Ayala Corp. The Soluto EX has many standard convenience and comfort features at a reasonable price. The second new Kia model will be unboxed at the Mias.

Nissan IMx

TECH and automotive aficionados are in for a treat as Nissan unveils its intelligent mobility at this year’s Mias. What was once the stuff of science fiction is now a reality with Nissan’s innovative technology that lets cars park themselves, watch what’s happening around the vehicle and even keep its passengers out of trouble!

MANILA INTERNATIONAL AUTO SHOW www.businessmirror.com.ph | Thursday, April 4, 2019

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Ford unveils vehicle display at Mias 2019

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ORD Philippines is bringing its segment-defining vehicles on display at this year’s Manila International Auto Show alongside event-exclusive offers and deals for customers getting their Ford vehicles during the 4-day motoring show.

New engines, new transmission

LEADING the pack are the first-ever Ranger Raptor, new Ranger, and new EcoSport all running on new powertrains and the Ford Mustang powered by a new transmission. The Ranger and Ranger Raptor are both powered by the new-generation 2.0L Bi-Turbo diesel engine with 10-speed automatic transmission that delivers greater torque, improved flexibility and a quieter, more comfortable drive. The 2.0L Bi-Turbo engine takes advantage of sequential turbocharging to deliver greater re-

sponsiveness, drivability and maximum efficiency. A pair of turbochargers are employed for maximum performance and efficiency. With 500Nm from a low 1750rpm, the Bi-Turbo delivers a greater torque spread, with the 10-speed’s close ratios reducing gaps in power and acceleration to make steep, slippery hill-climbs, for instance, much easier. The new EcoSport was also launched last year with a new powertrain that delivers better and fuelefficient driving. The new EcoSport is now powered by two new engine variants: the internationally-acclaimed 1.0L EcoBoost engine and the new and more powerful 1.5L Twin Independent Variable Camshaft Timing (TiVCT) engine. Both engines are mated with the new 6-speed automatic transmission, allowing for smoother and faster acceleration and improved fuel economy. The EcoSport 1.5L Titanium variant

was recently added in the EcoSport lineup, combining the performance of a new powertrain and the segment-leading features of the Titanium variant. The Mustang also sports a new 10-speed SelectShift® automatic transmission, available to both EcoBoost and V8 engines. With a wide-ratio span and optimized gear spacing, this all-new gearbox helps deliver higher average power for acceleration– improving responsiveness and performance. Ford also launched a new 6-speed manual transmission Mustang variant last year exclusive to the 5.0L V8 GT Premium convertible that gives users full control in shifting gears.

Explorer. The Everest has set the standard for mid-sized SUVs in the country with its best-in-segment 800mm water wading capability and outstanding fuel efficiency. It is a technology-led SUV that features levels of drivability, smoothness and cabin refinement that ensure a remarkable drive experience both on- and off-road, making it one of the most capable and safest SUVs in the segment today. The new Explorer comes in 3.5L V6 EcoBoost Sport and 2.3L EcoBoost Limited variants with updated exteriors. Both are powered by the internationallyawarded EcoBoost technology and are equipped with innovative smart technologies.

Seven-seater SUVs for the family

Special offers and deals available in April

FAMILIES can also visit the Ford booth at the MIAS to check out its seven-seater SUVs, the Everest and the

ON top of these exclusive deals, customers can still avail

of various discounts and all-in low down payment offers for select Ford vehicles. The Ford Ranger 2.0L BiTurbo Wildtrak 4x4 AT is available with a retail discount of Php 60,000 or an all-in low down payment of Php 128,000. The Ranger 2.0L Turbo Wildtrak 4x2 AT is available for an all-in low down payment of Php 118,000 while the manual transmission variant is offered with an all-in low down payment of Php 109,000. Both Wildtrak 4x2 variants also come with a Php 40,000 retail discount. Customers can also avail of the Everest 2.2L Titanium+ at 0% interest rate for up to 4 years or savings of up to Php 368,000. Those purchasing the new EcoSport 1.5L Ambiente MT can still avail of an all-in down payment of P58,000 or up to P 45,000 cash discount while customers getting the new Explorer can still avail of a P100,000 discount.

Hyundai Santa Fe

THOSE who seek a premium SUV can consider the latest edition of Hyundai’s Santa Fe. At P2.338 million, the Hyundai Santa Fe 2.2 R CRDi GLS 2WD is a good offering in the premium segment. Catch all these cars and so much more at “Mias 2019: Experience Fun and Function” from April 4 to 7, from 10 a.m. to 10 p.m. at the World Trade Center. For more information, visit manilaautoshow.com.

Suzuki Philippines showcases full-range lineup

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ioneer compact distributor Suzuki Philippines joins the 16th Manila International Auto Show this coming April 4 at the World Trade Center, Pasay City. The most-anticipated event for auto enthusiasts and industry professionals throughout the country, this year’s MIAS will run until April 7 and is expected to gather together more than 130,000 visitors. During the four-day event, Suzuki Philippines

will highlight how its vehicles deliver combined fun, functionality and comfort to give Filipinos an optimal driving experience. The brand’s most-valued vehicles—the multifunction 7-seater Ertiga, multiawarded subcompact sedan Ciaz, bold and relentless 4x4 all-new Jimny, well-loved hatchback Swift, exquisite sedan Dzire and stylish SUV Vitara—will be available for preview so visitors to the SPH booth will get the

chance to examine these Suzuki best-sellers. In line with SPH’s nationwide advocacy of raising awareness about road safety, the Suzuki Safety Scouts will be present during the trade show to encourage guests to join the campaign. Visitors can register kids 4 to 14 years old for free to become an official Suzuki Safety Scout. In addition to a Safety Scout uniform, members will be given road safety

activity books. They will also undergo traffic safety training. Families can look forward to fun-filled activities located at Suzuki Philippines’ booth and win attractive prizes. SPH Director and Automobile Division General Manager Keiichi Suzuki noted how joining the MIAS helps Suzuki Philippines further its mission in the country. “We continue to pursue our goal of providing Fili-

pinos with the right and fun-to-drive vehicles. For the 16th Manila International Auto Show, we are featuring our exciting lineup of vehicles that offers the right mix of reliable performance, functionality and fun. With these Suzuki vehicles, more Filipinos can enjoy the Suzuki Way of Life, be it in overcoming urban traffic, taking the family to a quick weekend escape or going on an off-road adventure with friends,” said Keiichi.

F4 Thursday, April 4, 2019

IGLESIA NI CRISTO GRACES POLICEMEN TO THEIR SPIRITUAL JOURNEY

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RAISING FINANCIAL I.Q. Insular Life (InLife), and best-selling author and online host Rose Fres Fausto have recently joined forces to help improve the financial IQ of Filipino women at various life stages, as part of the InLife Sheroes program. Fausto is hosting a series of half-day workshops to selected government agencies and private companies, to help participants make sound decisions and actions to become financially secured. She is also sharing her knowledge via www.inlifesheroes.com.ph. In photo are (from left) Gem Mailum, associate of IFE Management advisers; Ana R. Soriano, InLife vice president and head of public relations; Fausto; InLife executives Noemi Azura, executive vice president and chief strategy officer; Miriam Choa, first vice president and chief marketing officer; and Paulette Sioson, assistant vice president and officer in charge for corporate planning.

BUYING AND SELLING PROPERTIES USING BLOCK CHAIN TECHNOLOGY

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ESTATES Inc., housed at One Global Place in Bonifacio Global City, will soon launch its tokenized real-estate exchange platform that will make buying and selling properties easy for everyone. By using the platform, which is based on blockchain technology, the company hopes to create attractive investment opportunities in the Philippines. As the name implies, tokenized real estate means that ownership interest in real estate is represented by virtual tokens that exist on a blockchain. This is the same technology used in popular cryptocurrencies, but tokenizing real estate complies with security regulations. Among others, the token can represent ownership in the asset, equity in the legal structure that owns the asset or income based on cash flows from the asset. This is a far cry from the old and outdated way of regular real-estate transactions that take time and rely heavily on documents. By using the C Estates platform, investors can buy shares in various properties, earn rental income based on the tokens they have and sell tokens at a higher price when the value of the property increases. Tokenization and blockchain have many advantages over traditional real-estate methods like increased liquidity and transparency, enhanced security and simplified management. “We hope to break the barriers that prevent investors from doing business in the country. I envision the platform

to be a complete ecosystem and marketplace in the digital world, where real-estate companies can do business fast, easily and securely. In this system, everyone wins because everyone will earn,” said Teruo Sumida, C Estates founder and chief executive officer . “The Philippines was not affected by the financial crisis and the market had a big potential. I introduced local properties to Japanese investors and sold 2,000 condo units in Makati in the first five years. We have very affordable payment terms for OFWs until the condo is completed, and these attracted a lot of foreign buyers,” he explained. Sumida and his hardworking staff speak from their experiences as property consultants for foreignowned condominiums in the country. His team with the Capitarise Corp. once managed Versailles Stay at One Central, a high-end condotel mostly for foreigners in Makati City, and The 8 Newton that offers properties in Cebu for Japanese retirees. This project is in partnership with Megaworld Corp., one of the most recognized and top developers in the country. “We started as a traditional real-estate company, but we found a better way of doing things. Investors no longer need to contend with long lines, wasted hours and tiring legwork to confirm and validate documents. With C Estates, you can do everything online and all you need is the tip of your finger,” Sumida concluded. Visit https://cestates.io/ for more details.

‘LIVE AND WORK YOUR DREAM’

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HROUGH our program Loving What You Do (LWY D), we encourage Filipinos to live and work their dreams, redefine their perspective on business and lifestyle, and start living a better life,” Zyrus Ramos, executive producer and director of LWYD, said as he introduced the latest lifestyle-business program on GMA News TV on March 24. A weekly magazine show hosted by TV host/ actress Dianne Medina, LWYD features inspiring stories of rags to riches and teaches the audience how to turn their passion into a profitable business. LWYD promotes to earn at your own pace and time while doing something that you actually love. “...It is a show on its own because its advocacy isn’t all about earning and making money. It is about you—

how to empower you as a person and, ultimately, be [the] better you,” said Medina who, herself, is a young entrepreneur with her family’s events-management business. Likewise, Ramos is a young entrepreneur who started out as a video editor and photographer for various events and weddings. Loving what he does, he decided to level up by coming with an inspirational show, which was first shown in the country’s television network for two seasons. Aside from inspiring stories, LWYD will also feature fitness and a routine segment that will feature Philnoni, the alternative, locally produced supplement that promotes healthy living. Joining Medina as hosts are wellness advocate Chiara Ongkiko and female entrepreneur/founder of Alkaviva Water Philippines Grace Cristobal as cohost.

‘CAPTURE THE GLOBAL MARKET’ FROM JUNE 3-7

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HE Chamber of Real Estate and Builders’ Associations Inc. (Creba) is hosting the sixth Manila offering of the Certified International Property Specialist Institute, known worldwide as the CIPS brand, from June 3 to 7. Themed “Capture the Global Market”, the fiveday course licensed by the Chicago-based National Association of Realtors (NAR), will be held at the Metropolitan Club, Rockwell Center, Makati City. CIPS course instructor is Furhad Waquad from Michigan, a multi-awarded Realtor, educator and NAR leader for 30 years. The CIPS curriculum covers international realestate trends and transactions, region-specific laws including currency and exchange rate issues, cross-cultural relationships, and intercontinental market conditions and investment performances in the Americas, Europe, Asia and Oceania. Creba National President Noel Toti M. Cariño encourages Filipino real-estate professionals to be part of the elite CIPS designees’ group, which exists in 45 countries around the world, so they can benefit from the growing cross-border influences in real-estate markets. “The ability to assist global clients depends heavily upon your professional networking efforts—both in personal connections you’ve

already established and your ability to quickly identify new resources,” he said. Creba national chairman Charlie AV Gorayeb affirmed that “applying a No Borders mindset expands opportunities with buyers and sellers around the world exponentially, knocking down every conceivable barrier.” “Global real-estate opportunities are everywhere. Investors in your current market may look to invest in property overseas. No matter which audience you cater to, the CIPS designation will provide the knowledge, network and tools to globalize and expand your business.” The right to use the Realtor brand name and logo in the Philippines is exclusive to PRC-licensed realestate professionals who maintain their active status as international Realtor members or through Creba. A Cebu edition of the CIPS course will also be held from June 10 to 14 at the Sacred Heart Center in Cebu City. As Creba and NAR gears up for these major events, a gathering of current Filipino CIPS designees will be held on April 11 at the Metropolitan Club with Janel Muhammad of “Destination Own”, based in Pennsylvania as guest. Interested parties may send an e-mail at crebanar@yahoo.com.

LAYING a crucial role in the life and well-being of Filipinos, the Philippine National Police upholds to their core values and work ethics. This is what Philippine National Police top cadet Jervis Allen Ramos, now a police lieutenant (inspector), said in his graduation speech, as he gave thanks to Brother Eduardo Manalo for leading the Iglesia Ni C r i sto ( I NC ) me mb e r s i n t he i r spiritual journey. The INC does its share to the moral and spiritual upliftment of those in public service.The INC has a continuing program where INC ministers share God’s words in the Bible with the members of the military and police wherever they may be. On March 19 personnel of the 3 0 3 r d M a r it i m e Po l i c e S t at i o n in Barangay Sisiman, Mar iveles, Bataan, led by Police Major Virgilio M. Carodan, station commander, were g u ided by INC m i n ister i a l worker Brother Danilo M. Benedicta Jr. He emphasized from the Bible the traits that public servants should

have to be effective in the discharge of their duties. Similarly, on March 22 Police M ajor Je pht e F. B a nd e r ado le d me m b e r s of t he Fie ld Tr a i n i n g Officers Course Class 01-2019 at the Regional Special Training Unit 8 in Camp Kangleon, Palo, Leyte, in

reading biblical guidelines. Top graduate of PNPA Sansiklab Class of 2019, Police Lieutenant Je r v i s A l le n R a mo s a nd fe l lo w graduates met with INC Executive Minister Brother Eduardo V. Manalo on March 26 at the INC Central Office in Quezon City, Philippines.

METROBANK EXECUTIVES CONDUCT THREE-DAY FINANCIAL-MARKET BRIEFINGS

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HE Grand Hyatt Manila became a meeting point for financial m a rket e x per t s, cor porate executives, institutional investors and high net-worth individuals as Metropolitan Bank and Trust Co. (Metrobank) hosts a series of financial markets briefings. The three-day event focuses on m ac roeconom ic a nd i nvest ment themes, highlighting the opportunities to generate returns despite a volatile landscape. Vice President and head of research Marc Bautista discusses his macroeconomic forecasts and views, and highlights key drivers. First Vice President and head of institutional investor coverage Ruben Zamora d iscusses strateg ies in f inancia l markets given the current global and domestic themes. At the culminating open forum, the speakers are joined by Metrobank head of trust banking and Senior Vice President Dond i Sa nt i l l a n,

and head of treasur y and Senior Vice President A nton Yap. T hey share with the attendees their views on opportunities and implications of business operations, and riskmanagement requirements.

In photo are (from left) Metrobank Vice President Kael Pasimio, Bautista, Santillan, Vice President Elizabeth Legaspi, Senior Vice President Jikee Reyes, First Vice President Rommel Dionisio, Yap and Zamora.

DISCOUNTS, NEW P&G PRODUCTS AWAIT GUESTS ON 1ST REGIONAL SUPER BRAND DAY!

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ROCTER & Gamble (P&G), a leading global consumer-good company; and Shopee, a leading e-commerce platform in Southeast Asia and Taiwan, launches the first-ever Regional Super Brand Day to “Stop Bad Hair Day”. Shopee will introduce P&G’s latest line of hair-care products across six markets in Southeast Asia. This is part of P&G and Shopee’s strategic partnership to drive online sales and hair-care category growth in e-commerce. The Regional Super Brand Day in the Philippines offers P&G’s leading hair-care brands, including Head and Shoulders, Pantene and Rejoice from April 3 to 5, to address top hair problems, such as hair fall, dandruff and oily scalp. In the Philippines P&G is also launching hair-care products perfect for the summer season. The new Head and Shoulders Subzero, which gives an extra cooling sensation; and Rejoice Perfume Shampoo, which leaves a long-lasting fragrance on your hair, will be exclusively launched on Shopee on the same day. The campaign offers deals up to 40 percent off, and Shopee users can also stand to win additional discounts and prizes by taking part in the in-app games and #StopBadHairDay. The two top-spenders on P&G haircare products per day will each win

an iPhone XS Max on April 3, Dyson Supersonic Hairdryer on April 4 and Samsung Galaxy S10+ on April 5. Said Deeksha Kakkar, Asia Pacific hair care e-commerce leader of P&G, “Since launching the P&G official store on Shopee, we have seen significant growth in our e-commerce business in Southeast Asia. We are excited to launch our innovative hair-care products that are at the forefront of delivering key consumer benefits; and expect to [let] grow [of] the hair-care category in e-commerce with Shopee, through our first Regional Super Brand Day.” Said Agatha Soh, head of Shopee

regional marketing, “As e-commerce continues to grow in the region, we see a rising trend of consumers opting to purchase their daily necessities online. In line with this trend, we are happy to partner [with] P&G to further provide users with greater convenience and cost - s av i ng oppor t u n it ies when buy i ng t hei r e ver yd ay items on Shopee. We are excited to kick off the first Regional Super Brand Day with P&G featuring a range of exclusive hair-care deals for Shopee users, and we are confident that this partnership will help P&G in expanding their reach through e-commerce.