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MISLATEL WINS BID FOR 3RD TELCO; 2 ‘LOSERS’ PROTEST By Darwin G. Amojelar, Rio N. Araja, Macon RamosAraneta and Maricel V. Cruz A CONSORTIUM led by a Davao-based businessman in partnership with China Telecommunications Corp. has been declared the country’s third major player, which is expected to challenge the duopoly of PLDT Inc. And Globe Telecom Inc. The National Telecommunications Commission announced Wednesday that

Mislatel Consortium, a joint venture of Dennis Uy’s Udenna Corp., its subsidiary Chelsea Logistics Holdings Corp., Chinese state-owned China Telecommunications Corp. and Mindanao Islamic Telephone Co. Inc. as the provisional new telecommunications provider. Uy is also president, chief executive ofﬁcer and director of Phoenix Petroleum Corp. and one of President Rodrigo Duterte’s biggest campaign contributors in the 2016 presidential election. Next page

VOL. XXXII • NO. 266 • 3 SECTIONS 16 PAGES • P20 • THURSDAY, NOVEMBER 8, 2018 • www.manilastandard.net • editorial@manilastandard.net

Lakas, Tingog, Hugpong seal alliance By Maricel V. Cruz LEADERS of the Lakas-Christian Muslim Democrats, the Tingog Sinirangan party-list group and the Hugpong ng Pagbabago regional party on Wednesday forged an alliance to support the senatorial candidates of President Rodrigo Duterte and to ensure the continuity of his legislative agenda in the next three years.

Lakas-CMD president Martin Romualdez, Tingog Sinirangan party-list ﬁrst nominee and Leyte Rep. Yedda Marie Kittilstvedt-Romualdez, and Hugpong ng Pagbabago regional party head and Davao City Mayor Sara Duterte-Carpio underscored the importance of ensuring that the last three years of Duterte after the May 2019 midterm poll were implemented. Next page

POLITICAL FEVER. Hugpong ng Pagbabago Chairperson and Davao City Mayor Sara Carpio (3rd right) endorses 1st District Leyte candidate Martin Romualdez (2nd right) and the Tingog Party-list led by incumbent 1st District Rep. Yedda Marie Romualdez (5th left) during the signing of the alliance by Hugpong ng Pagbabago, Lakas-CMD Party and Tingog Party-list at the Tacloban City Astrodome Wednesday. Ver Noveno

Du30 goes all out for war on drugs By Nat Mariano

Democrats seize US House but Trump avoids ‘blue wave’ WASHINGTON—Democrats seized control of the House of Representatives on Tuesday in a midterm setback for Donald Trump, but the US president managed to avoid a feared “blue wave” as his Republican Party expanded its Senate majority after a polarizing, racially charged campaign. Heralded by Trump as a “tremendous success,” the Republican Senate victories will all but end any immediate talk of impeachment, even as the Democratic-led House will enjoy investigative powers to put new checks on his rollercoaster presidency.

Just after polls closed on the West Coast, Trump took to Twitter to hail his party’s performance. But network projections said that Democrats would take control of the House for the ﬁrst time in eight years, upending the balance of power in Washington where Trump enjoyed an easy ride following his shock 2016 election with Republican dominance of both chambers. Democrats were on course to ﬂip at least 26 seats from Republican hands, with strong performances among suburban Next page

Lawyer in Sagay massacre shot dead By Francisco Tuyay and Maricel V. Cruz A HUMAN rights lawyer working on the case of nine farmers who were massacred in a sugar plantation last month was shot dead Tuesday night in the city of Kabankalan, Negros Occidental, about three kilometers from a police station. Benjamin Ramos, 56, a founding member of the National Union of Peo-

ple’s Lawyers, which provides free legal services, was shot dead by gunmen on a motorcycle at 10:30 p.m. along Rojas Street, police said. Chief Supt. John Bulalacao, director of the Police Regional Ofﬁce 6, said the gunmen shot Ramos while he was talking to an owner of a sari-sari store. Ramos took three gunshot wounds in the chest and was taken to the Holy Mother Next page

RESIDENT Rodrigo Duterte vowed Tuesday to mobilize the entire government machinery to combat illegal drugs.

“I will issue a memorandum circular directing the entire government machinery to mobilize its assets and to take an active role in government’s anti-illegal drug campaign nationwide,” he said. To move the anti-drug campaign forward, he said, he will activate a National Anti-illegal Drug Task Force. The task force will be composed of the personnel from the Philippine National Police, the Armed Forces of the Philippines, the Bureau of Customs, the Coast Guard, and other agencies of the government, he said. The President’s remarks were made in relation to his concern that drug money would mar the 2019 midterm elections. “Look closely at this election, you will see. Drug money will play here,” the President said during a talk on drugs and militarization Tuesday evening. He did not expound on his prediction, however, but again Next page

Senate chief wary of Palace’s new economic adviser By Macon Ramos-Araneta SENATE President Vicente Sotto III on Wednesday sought clariﬁcation on the appointment of Michael Yang, who has been implicated in the illicit drug trade, as one of President Rodrigo Duterte’s consultants. “For myself, I want to know if he has been appointed formally,” Sotto said at the “Kapihan sa Cafe Adriatico.” But he said there was no prohibition on the Executive department to answer the matter because “they appointed him.” “His association with who or what, I am not familiar,” Sotto said. He said the appointment of consultants was among the discretionary powers of the President. “If he is a consultant because of his knowledge of some matters, that is really a prerogative of the Executive department,” Sotto said. Next page

DUTERTE’S CHOICES. President Rodrigo Duterte endorses the candidacies of QC Vice Mayor Joy Belmonte and QC councilor Gian Sotto in Malacañang last Monday. Belmonte and Sotto are running for mayor and vice mayor in next year’s midterm elections under their local Serbisyo sa Bayan Party, which is allied with Hugpong ng Pagbabago headed by Davao City M ayor Sara Duterte.

Mandatory dope test on students triggers uproar STUDENTS in universities and colleges will be required to undergo mandatory random drug testing starting with academic year 2019-2020. But the Alliance of Concerned Teachers on Wednesday immediately condemned the move by the government to launch what it called illegal anti-drug operations and random testing in campuses across the country. Commission on Higher Education Chairman J. Prospero de Vera III said in a television interview Tuesday night that this action is based on the commission’s Memorandum 18, in accordance with the Comprehensive Dangerous Drugs Act of 2002. “What we’re doing inside the institutions is the creation of environment for a healthy lifestyle. Let us not wait for the problem to be chronic before we intervene,” he said in Filipino. But Raymond Basilio, ACT Philippines’ secretary general, said: “After terrorizing communities and killing thousands in the guise of the administration’s war on drugs, [the] PNP [Philippine National Police] now plans to take its bloody and evidently failing ‘Oplan Tokhang’ into colleges and universities, with no less than CHED holding the doors open for them.” Basilio expressed alarm over the prospect of police entering university premises to conduct operations against teachers and students, which would expose them to abuses and human rights violations that marked Oplan Tokhang— the most recent of which involved a Manila policeman accused of raping a drug suspect’s teenage daughter. Basilio Claudio, head for legal issues and concerns of the University of the Philippines Student Council, also said the conﬁdentiality of the drug testing results might be compromised. “How can we ensure that… students who might yield positive results would not be discriminated upon?” he said. Claudio added that the police might not observe the basic rules and procedures during drug raids. Next page

‘Glorious’ sets social media ablaze ENTERTAINMENT C4

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Audit teams make way for polls By Rio N. Araja

HE Commission on Audit, to prove and maintain what it calls neutrality, has suspended the creation of fraud and special audit teams and the conduct of audits ahead of the campaign period for the 2019 midterm elections.

in the national and local elections, including nominees of party-list groups. It is necessary for the Commission on Audit, as an independent constitutional body, to uphold its political neutrality,” its order read. COA would no longer entertain any complaints or requests for fraud or special audits that were filed on the day of the filing of certificates of candidacy against local and national candidates, including party-list nominees, in the 2019 midterm polls. The initial assessment or evaluation

of requests fraud/special audits and other preliminary procedures are not covered by the suspension. COA clarified that fraud/special audits that were already under way before Oct. 11 shall proceed unhampered. “This resolution shall in no way curtail or impair the regular functions of the offices, auditing units and audit teams of the Commission, not otherwise affected by it, which they shall continue to perform in accordance with duly approved work programs,” the resolution stated.

COA chairperson Michael Aguinaldo, along with Commissioners Jose Fabia and Roland Pondoc, issued the suspension order via Resolution 2018-031 signed last Oct. 2 taking effect over a seven-month period from Oct. 11 to May 13, 2019.

The commission said the move was deemed necessary to isolate itself and its auditors from the issue of politics. “[T]he Commission receives voluminous complaints and/requests for special/fraud audit against candidates

Mandatory dope...

Panelo flip-flops: Aguilar got endorsed indeed

From A1

De Vera, however, said the results of the random drug testing would not be made public. “The drug testing results can’t be made public and we’re doing this to identify the students who have problems so they could be given appropriate health intervention so this is not to remove the students,” he said. He added that the safety and security of the students will be given priority in the creation of the mandatory random drug testing guidelines. According to the memorandum, students and parents must be notified about the conduct of mandatory drug testing of students by all universities and colleges through the student handbook. Also, only drug facilities, physicians or private medical practitioners accredited by the Department of Health may conduct the necessary drug testing. PNA

By Nat Mariano AFTER denying that President Rodrigo Duterte had endorsed Freddie Aguilar, Presidential Spokesman Salvador Panelo on Wednesday admitted that Duterte had indeed endorsed the folk singer’s senatorial bid. “The President has made a statement backing Freddie Aguilar on his bid by acknowledging the latter’s brilliance and nationalism... We stand by this pronouncement,” Panelo said in a statement. He took back his remark that Duterte

had only asked the public to vote for Aguilar as an outstanding man. “I was only saying that in jest,” Panelo said in a separate interview. He said Duterte’s endorsement was not a form of premature campaigning. “Even if what the President said is an endorsement in relation to Aguilar’s Senate bid, it cannot be a violation of election laws,” Panelo said. He cited the case of Penera vs. Comelec where the Supreme Court ruled that an election aspirant could only be considered a candidate once the campaign period started.

BIG-BUCKS BIDDING.

National Telecommunications Commission’s employees open the first box containing the bidder’s name and documents during the bidding for the right to be the third player in the telecommunications industry held at NTC Building in Quezon City on Wednesday. Manny Palmero

Lawyer... From A1

Mercy Hospital in Kabankalan City, but was pronounced dead by upon arrival. Bulalacao said he had already ordered an immediate investigation to solve the crime and assured the Ramos family that the killers would be arrested. Ramos was assisting the National Federation of Sugar Workers, whose nine alleged members were killed last month. Police said the nine NFSW members were killed by the New People’s Army in Hacienda Nene in Sagay, Negros Occidental, a claim the communist rebels denied. The PNP has filed multiple murder charges against seven members of the NFSW over the massacre, but the federation was contesting them. The NUPL condemned Ramos’ killing, saying it was shocked, devastated and enraged at the cold-blooded murder of one of its founders. “The passionate, dedicated and articulate yet amiable and jolly Ben, was a founding member of NUPL. Despite limitations, he was for the longest time the goto pro-bono lawyer of peasants, environmentalists, activists, political prisoners and mass organizations in Negros,” said the union’s president, Edre Olalia. Police said the murder could be linked to Ramos’ work as a human rights lawyer, noting that he had received numerous death threats. Justice Secretary Menardo Guevarra on Wednesday ordered the National Bureau of Investigation to look into his death, as well as the massacre of the nine farmers in Sagay town last month. “I have directed the NBI to include this development [Ramos’ killing] in their investigation on the Sagay farmers’ massacre and determine if there is any indication that the incident is related to the previous killings of the farmers,” the Justice secretary said. The farmers were reportedly killed inside the sugar plantation at around 9:45 pm on Oct. 20, a day after the farm owner harvested sugar cane. The victims were resting when 40 armed men attacked them. Three leftist lawmakers condemned Ramos’ killing. “We strongly condemn the killing of attorney Benjamin Tarug Ramos. He was lawyer for UP Cebu alumna and political prisoners Myles Albasin and the rest of the Mabinay 6. He was also part of the quick response team for the massacre of nine farmers in Sagay last month. Attorney Ramos was shot dead last night while on his way home from filing a motion for a political prisoner at Kabankalan City, Negros Occidental, according to reports from Karapatan Negros Island,” ACT Teachers Party-list Rep. Antonio Tinio said.

Mislatel... From A1

Mislatel committed to invest P257 billion over a five-year period, with P150 billion committed to its first year of operations. In terms of Internet speed, the group committed to provide 27 megabits per second (mbps) in its first year, and 55 mbps in five years. The company plans to cover 84 percent of the population in five years and 34 percent in its first year of operation. Mislatel will be subjected to a document verification phase within three

Panelo also said the Palace did not retract Duterte’s expression of support for Aguilar, and that the President could support other aspiring senators outside the PDP-Laban that he deemed fit and qualified. He said the ruling party PDP-Laban had not come up with a full slate of candidates for the Senate yet. “This is the reason why we explained the President’s pronouncement as a mere request addressed to the people to support Mr. Aguilar as an outstanding man, the latter not being considered as a candidate yet under our laws,” Panelo

OFW executed would have led to ban—Rody PRESIDENT Rodrigo Duterte says he threatened to pull out Filipino workers from the United Arab Emirates and he is ready to impose a total deployment ban in that country if it executes a Filipino worker who has been sentenced to death. “If you hang her, I really tell you, I will immediately order the suspension of employment [in the UAE],” Duterte said during the Cabinet meeting on Tuesday night. He was referring to the case of Jennifer Dalquez who was sentenced to death for killing her abusive employer in 2014. She claims she did it in selfdefense as her employer had tried to rape her at knife point. Labor Secretary Silvestre Bello III supported Duterte and told the Cabinet members that he flew with Overseas Workers Welfare Administration head Hans Leo Cacdac to Abu Dhabi to relay the President’s directive to UAE officials. “We went to Abu Dhabi, Mr. President, and relayed the same instruction that you gave me. I said, ‘The President respects your justice system, but the President feels that if you hang his countryman, then he will just [have] to declare a total deployment ban for the entire United Arab Emirates’,” Bello said. “Two months after [that], we learned that her sentence of death was commuted to only three years. She has not even served three years [in prison], but they freed her... Obviously, they got scared by your remark, sir,” Bello told the President. After the incident, Bello said, UAE officials invited Duterte to visit the Arabian Peninsula. Duterte then said if it weren’t for his crude language as a President, nothing would happen in the country. “What I’m trying to say is, if you don’t say p****** i**, nothing will happen in this country. That’s the truth. Walang mangyari talaga sa bayan na ito. If you cannot say f*** you, g******* you better behave,” he said. Nat Mariano

Lakas, Tingog... From A1

give a policeman who killed his superior for his involvement in illegal drugs with a trip to Hong Kong, and said he would offer a similar reward to officers who kill other “ninja” or corrupt cops. “Last night, a police colonel was killed. He was there in the crawler. He was killed by a police. Yes, his co-policeman killed him,” he said. “I am going to reward that policeman. Any policeman who will kill a superior because the superior is into drugs, I will give you a prize and a trip to Hong Kong,” Duterte said, offering a cash bounty as well. “Yes, it’s true. If you want to convert it into money. Did I say P3 million? Yes. Kill them, P3 million,” he added. Talking to his Cabinet, the President was referring to Supt. Santiago Ylanan Rapiz, who was killed in a drug buy-bust in Dipolog City on Monday evening. Rapiz, chief of the logistics branch of the Zamboanga del Norte police, allegedly fought back when authorities tried to seize him during the drug raid. Authorities believed Rapiz had been recycling and reselling illegal drugs

seized from drug operations of the PNP. He was also accused of being a “protector” of slain business couple Melvin and Merriam Odicta, who were both gunned down in August 2016 for links to illegal drugs in Iloilo. The President said he would need the help of the military to assist the police in their operations as the country’s drug problem has already become a “national security issue.” He also said some of the police and local government officials, from mayors to barangay captains, play a dirty role in the drug trade. “This is a national security issue. I have every right to call on the Armed Forces to assist the police. Many of those are policemen who are stupid. Son of a bit**,” he said. “If I caught you, I’m sorry. That’s it,” he warned, saying again that he would “really kill” violators involved in the illegal drug trade. In his third State-of-the-Nation Address, Duterte warned that the administration’s centerpiece program against illegal drugs would remain “relentless and chilling.”

enough of division.” Democrats will now be able to From A1 block legislation and light a fire under Trump’s feet with investigations of his white women who had narrowly turned opaque finances and Russian interferto Trump two years ago and in key bat- ence in the 2016 election. tleground states such as Pennsylvania. Representative Nancy Pelosi, who is No ‘Blue wave’ likely to return as speaker of the House Tuesday’s contest saw several hisdespite opposition from some centrist toric firsts in the Democratic camp: in Democrats, promised that the party Kansas Sharice Davids—an attorney will serve as a counterweight—but also and former mixed martial arts fightwork with Trump. er—became the first Native American “Today is more than about Democrats woman elected to Congress. and Republicans. It’s about restoring And in the Midwest a onetime Sothe constitution’s checks and balances mali refugee, Ilhan Omar, and Rashida to the Trump administration,” Pelosi Tlaib, who is the daughter of Palestintold a news conference. ian immigrants, shared the historic disBut she added: “A Democratic Con- tinction of becoming the first two Musgress will work for solutions that bring lim women elected to the US Congress. us together, because we have all had But the rosiest expectations of some

Democrats—that they could create a “blue wave” even when playing defense on the Senate map—proved unfounded. Republicans were forecast to have defeated several Democratic senators in states won by Trump—Florida, Indiana, Missouri and North Dakota. Trump boasted a growing economy but campaigned aggressively in the closing days on a hardline anti-immigration message. He seized on scenes of a caravan of Central American migrants heading through Mexico for the US, mused on ending the constitutional guarantee of citizenship to all people born in the United States and ran a television advertisement, deemed too provocative to air by mainstream networks, that linked Democrats to a criminal who was an undocumented immigrant. AFP

calendar days. “Once we are confirmed as the new major player, we promise that we will work very hard to give the Filipino people world class telecommunication services that they deserve,” said Adel Tamano, a spokesperson for Udenna. Mislatel was declared sole bidder after two other bidders, Philippine Telegraph and Telephone Corp. and the consortium of Chavit Singson’s LCS Group and TierOne were disqualified because of incomplete documents. PT&T failed to submit a certification of technical capability from the NTC, while LSC-TierOne Group was disqual-

He said a change in the terms in a bid bulletin was “irregular.” Simon Fjell, co-founder of TierOne, said they will file a motion for reconsideration before the NTC to question its disqualification. Sear Telecom, a consortium led by LSC Group and TierOne, said it will file a case against Mislatel for breach of contract. Mislatel’s congressional franchise was used by Udenna and China Telecom for their bid, but they did not get consent from DigiPhil Technology Inc., a TierOne subsidiary that had the right of first refusal to the franchise, said Raoul Creencia, managing partner of Sear.

Du30... From A1

attacked the Parojinog family for its alleged links to the illegal drug trade in Ozamiz City. At the same event, the President said he only called for military intervention in the Bureau of Customs as far as security protocols are concerned, following the alleged entry of billions of pesos worth of shabu. “When I called in the Army to help the Bureau of Customs, there was no designation, there was no appointment and there was never an instruction for them to take over the functions of the employees,” Duterte said. He also admitted it would take him more than a decade to probe every single personnel in the bureau for corruption. “So, what I did was to order them on floating status, but that was a particular order directed to section chiefs, but their assistants will be the one working,” he said. At the same time, Duterte said he would

Democrats...

ified for not submitting the “participation security” of P700 million. The two disqualified bidders said they plan to submit separate motions for reconsideration before the NTC in the next three days. PT&T president James Velasquez said the bidding process was unfair. “That is why we ask assistance from the court,” he said. “If we were given a certificate we would have complied 100 percent. We have complied [with] all the requirements, including the P700-million participation security and the P10-billion paid capital,” he added.

“I ask all of you to help the senatorial candidates of Hugpong ng Pagbabago whom I trust will carry on President Duterte’s agenda of genuine change,” Martin Romualdez told the jampacked Tacloban City Convention Center or the Tacloban Astrodome during the signing of the agreement Wednesday. “I would like to reiterate our strong support to President Duterte and his agenda for change.” In her speech, Duterte-Carpio said the senatorial election was crucial because Duterte needed all the support he could get from Congress, especially in the Senate. “Let us support our senatorial candidates because he [Duterte] needs senators who will push his agenda in the last three years of his term,” Duterte-Carpio said in her speech. She named 14 senatorial candidates whom she endorsed, including re-electionist Senators Juan Edgardo Angara, Cynthia Villar, Aquilino Pimentel III and Joseph Victor Ejercito, Ilocos Norte Gov. Imee Marcos, former presidential assistant Bong Go, former senators Jinggoy Estrada and Ramon Revilla Jr., former presidential spokesman Harry Roque, Deputy Speaker and Taguig City Rep. Pia Cayetano, former Philippine National Police chief Bato dela Rosa, Maguindanao Rep. Zajid Mangudadatu, Willie Ong and former presidential political adviser Francis Tolentino.

Senate chief... From A1

He cited an instance when a local government unit hired a jueteng kingpin to address the issue of Small Town Lotteries. Told that Yang had signed a contract with the Philippine government, which covered the period January to June 2018 and July to December 2018, Sotto said it might appear that the President did not know about it since he was not a signatory to the contract. The contract reportedly was signed by Executive Secretary Salvador Medialdea. Meanwhile, the Liberal Party expressed alarm over Malacañang’s confirmation that Yang, a Chinese national, held the position of Economic Adviser to the President. “Michael Yang was previously linked to illegal drugs,” the Liberal Party said in a statement. “Despite the President personally clearing him of said accusations by virtue of being associates in Davao and by citing Yang’s close relations to the Chinese Ambassador, we still find it disconcerting that he was linked to illegal drugs in the first place.

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‘31.92-m Pinoys not covered by P25 wage hike’ ABOUT 31.92-million Filipinos who are informal workers, or taxi/jeepney/ tricycle/padyak drivers, laundry women, fishball vendors, etc. are not covered by the P25 minimum daily wage increase, said Liberal Party president Senator Francis Pangilinan. Pangilinan said that due to exceptions such as those for companies with fewer than 10 employees, and because the wage hike covers only Metro Manila, less than 6.76 million Filipinos will earn P537 per day. “We need a more comprehensive view on income, in relation to poverty and hunger. How much does a family need to live in dignity? “he said. According to Partido Manggagawa, for a Filipino family of 6 to eat 3 times a day, have shelter, send children to school, and meet their needs, daily earnings should be P1,300. Even with two breadwinners in the family earning minimum wage, this is still wanting. “This is why the government doubled the income of the lowest ranking police officer, soldier, and jail officer. Starting January this year, the salary of a Police Officer 1 has been P29,668 per month, or more than double the income of minimum wage earners of P13,425 per month (if work is 25 days).’’ Macon Ramos-Araneta

Kin, friends of slain botanist want case upgraded to murder THE wife of slain botanist Leonard Co on Wednesday called on the Department of Justice to prosecute the Army soldiers involved in the killing of her husband on Nov. 15, 2010 in Kananga, Leyte, for murder. Glenda Co, along with her husband’s colleagues and friends held a protest action outside of the DOJ main building in Manila to press for the upgrade of the case of reckless imprudence resulting to homicide to murder, a non-bailable offense. The victim’s family, friends and colleagues lamented that it has been close to 8 years since Co was killed and yet justice is still elusive. Mrs. Co said their family is still hoping that justice will be serve one day for the death of her husband, adding that the soldiers charged in the case are due for arraignment on November 14 for reckless imprudence resulting to homicide. Rey E. Requejo

DOJ debunks graft charges filed by De Lima THE Department of Justice Wednesday debunked allegations in the graft charges filed by detained Senator Leila de Lima before the Office of the Ombudsman against her successors in the DOJ. Justice Secretary Menardo Guevarra denied the claims of De Lima that inmates in New Bilibid Prison in Muntinlupa City were used as state witnesses in the drug cases against her before the Muntinlupa City Regional Trial Court. “As far as I now, no convicted person has been used as a state witness against Sen. de Lima,” Guevarra said, in a text message to reporters when asked for comment on the complaint filed by the senator against him and former secretary Vitaliano Aguirre II. Guevarra said none of the 13 NBP inmates who testified against De Lima in earlier legislative hearings had been admitted to the Witness Protection Program, contrary to the claim of De Lima. However, Guevarra said it will not stop the DOJ from using the inmates who earlier tagged De Lima in the drug trade inside the national penitentiary could serve as prosecution witness in her trial before the courts. Rey E. Requejo

REMEMBERING ‘YOLANDA.‘ This file photo taken on Nov. 20, 2013 shows Super Typhoon ‘Haiyan’ victims sifting through the rubble of their destroyed homes as a military cargo plane flies overhead in Tacloban. Super Typhoon Haiyan struck in the predawn darkness of Nov. 8, 2013 as the then strongest typhoon to ever hit land, leaving more than 7,360 people dead or missing across the central Philippines. AFP

Romualdez thanks ‘Yolanda‘ local/foreign donors again By Maricel V. Cruz and Macon Ramos-Araneta

AKAS-CHRISTIAN Muslim Democrats president Martin Romualdez once again expressed gratitude to Filipinos, local and international donors for showing “malasakit” and compassion by helping the Tacloban City recover from the devastation of Super Typhoon ‘‘Yolanda’’ that hit country ﬁve years ago. “You have inspired us and lifted our spirits. As you can see we have come a long way and we will continue to work together,” Romualdez, a returning Leyte congressman, told Manila-based reporters as the nation commemorates this Thursday the ﬁfth year of the monster storm. “Salamat po sa inyong malasakit sa amin para muli kaming makatayo. Magpapatuloy po ang buhay at tinitingnan namin lagi sa positibong bagay ang lahat,” said Romualdez, a former House Independent Bloc Leader of the previous 16th Congress and a three-term Leyte congressman. Citing Taclobanons’ malasakit to

each other, Romualdez lauded them as restaurants and shops have bustled again in the city. “Before, the city was nearly completely destroyed because of the typhoon that killed thousands of residents here and destroyed billions of properties, thanks for the “malasakit” of Taclobanons to one another and the city has been recovering,” Romualdez said. Leyte Rep. Yedda Marie KittilstvedtRomualdez joined her husband, Martin Romualdez who vowed to continue building permanent homes, create better job opportunities and sustainable livelihood for Yolanda survivors.

“Now we have seen that so much progress has been achieved in building back our communities even better, and we have to thank the help of our Filipino and foreign friends as well as our national and local government for their continued leadership and support in the rehabilitation efforts,” said Yedda Romualdez, adding that Tacloban City has been recovering as new malls, restaurants and hotels have rose since Yolanda hit the country on Nov. 8, 2013. Martin Romualdez, a lawyer and president of the Philippine Constitution Association, said local leaders are doing its best for the people of Tacloban City. “Walang imposible basta nagmamalasakit tayo sa isat-isa. Puwede at posible ang lahat,” Martin Romualdez said. In the Senate, Senator Sonny Angara called for the creation of one-stop-shops under a law that would help hasten the release of foreign aid as more relief goods for calamity victims end up wasted after years of being held up by red tape in ports. He cited the need to build a onestop-shop so that there will be a designated go-to office from foreign donations.

Gringo to breeze thru CA as new DICT chief—Sotto SENATE President Vicente Sotto III on Thursday is conﬁdent that Senator Gringo Honasan, the incoming Department of Information and Communications Technology secretary, will breeze through the conﬁrmation hearing of the Commission on Appointments being a current member of the chamber. “We have a tradition in the CA. Kapag ikaw ay former member of Senate you will be given courtesy. E siya pa na current member,” he said. He said Honasan’s appointment papers in for his new position would be released on Nov. 12 when the Senate session

resumes. Speaking during the “Kapihan sa Cafe Adriatico,” Sotto said they already discussed the matter in a meeting with President Rodrigo Duterte, Executive Secretary Salvador Medialdea, former Special Assistant to the President Bong Go, Senators Panﬁlo Lacson, Honasan, and himself on Oct. 29. “Last Oct. 29, we had a meeting with the President, Senator Lacson, Honasan, with ES and SAP. It was discussed. We talked that Greg can make it on Nov. 12,” Sotto said. “I hope I am not pre-empting the Palace

or Greg because we really talked about this,” he said. He said this is to avoid an ad interim appointment which would force Honasan to resign from the Senate. “Napag-usapan lang naman kasi si Greg na para hindi ad interim, para nomination,” said Sotto. In other words, he said if Honasan is conﬁrmed and took his oath, it’s the only time he would be resigning as member of the Senate. “When we resume next week he would still be in the Senate,” he said. Macon Ramos-Araneta

POEA warns vs online recruitment scam By Vito Barcelo THE Philippine Overseas Employment Administration warned Filipino jobseekers from an online recruitment scheme targeting applicants for employment aboard cruise ships by asking money for placement and processing fees. In a statement, the POEA said the scam begins with an e-mail from the recruiter claiming to represent a major company such as Carnival Cruise Line, Royal Caribbean Cruise Line, Disney Cruise Line, MSC Cruises, P&O Cruises, etc. “The recruiter guarantees the target person a job with a cruise ship, in exchange for paying the necessary fees, but when the victim pays, the scammer—and the supposed job— simply disappear,” the POEA said. The agency advised jobseekers that when looking for employment in a

cruise ship, they should never pay any fee, including recruitment and placement fees. “Legitimate manning agencies and cruise lines are not allowed to charge administrative fees from seafarers,” the POEA said. The agency said that cruise ship job scams are easy to detect because their jobs are advertised on free websites and social media, since scammers would not pay advertisement for jobs that do not exist and through e-mails. Most of the correspondence is in poor English and very informal as most scammers operate from countries such as Malaysia, Ghana, Nigeria, etc., the agency warned. It added that the job being offered are usually very generous in terms of salaries and with short working hours, long paid holidays, and no thorough interviews with candidates.

E-CARD. Overseas Filipino workers Vilma Santos Baptista (right) and Erma Villaluna Lotion show the new OFW e-card, a membership card that provides easier access to government benefits during the card releasing rites in Pasay City. Ey Acasio

Imee pushes for new creative entertainment industry charter ILOCOS Norte Gov. Imee R. Marcos wants to rationalize and expand on what she calls the “outdated, conflicting and inadequate legislation” governing the Philippine entertainment industry today. In the runup to the Metro Manila Film Festival this December, Gov. Marcos said there is an urgent need to restructure the guidelines, parameters and philosophy embracing the country’s creative profession into one overarching framework as part of nation building. The charter she envisions will encompass not only the traditional radio, film and television media but also new platforms such as games and toys development, social media and digital communications. It will also update and streamline the various agencies operating as regulatory bodies such as the Film Development Council of the Philippines, Movie and Television Review and Classification Board, and Optical Media Board. “At a time when both legitimate productions and wholesale piracy are electronic, our laws remain analog,” Gov. Marcos said. “We need to initiate a system of incentives not only for quality films but also for those who receive awards and recognition from local and international film festivals.”

DOJ defends EO allowing more foreign ownership in some sectors By Rey E. Requejo THE Department of Justice on Wednesday defended the legality of President Rodrigo Duterte’s Executive Order No. 65 allowing more foreign investments and allows foreigners to practice some professions in the country. Justice Secretary Menardo Guevarra said that EO 65, which allows full foreign ownership in some business sectors and increases foreign equity in radio network and public works, does not violate the 40-percent limit for foreign ownership and the prohibition on foreign equity in mass media under the 1987 Constitution. “We don’t see anything objectionable on EO 65. It does not violate the limits on foreign investments set in the Constitution,” Guevarra said in an interview. The Executive Order issued by the Palace last Oct. 29 provided for the 11th foreign investment negative list, which enumerates the areas or activities open to foreign investors and aims to improve the country’s attractiveness to foreign direct investments. The Justice secretary insisted the EO is still consistent with the 60-40 rule on local and foreign investments under the Constitution.

Opinion

THURSDAY, NOVEMBER 8, 2018

mst.daydesk@gmail.com

Something’s burning at the BFAR? thorities trying to encourage them as to the correct technical way forward… Not only does ‘ST’ drive the sales efforts around the world but he also has to ensure that all the other company ‘plates’ stay up in the air.” Another post, this time in Jan. 17 AGRICULTURE Secretary Manny this year, coming from one “ramPiñol really needs to check on this. nik007,” seemed confident in bagging Documents reaching this writer the contract, stating it was “SRT speshowed that the bidding for the P2.1- cific.” billion Integrated Marine Environ“Philippine contract does appear ment Monitoring System or IMEMS to be SRT specific, but even if SRT of the Bureau of Fisheries and Aquatic win(s) the award, the big question is Resources conducted last week might how much delay there will be in gethave been tainted with some anomaly. ting any money. Implementation time IMEMS is deemed necessary to line appears to indicate rapid start, check rampant illegal fishing in the ter- but gov’t departments being generally ritorial waters of the country, includ- slow, will ensure delays. Let’s hope ing the contested not too long,” the reefs, cays, sandpost stated. bars and shoals With rumors in the Spratlys, of this nature and the areas in flying before the There’s no harm in the West Pacific bids were to be where Philippine- checking. opened last Oct. flagged vessels 30, two bidders catch fish. reportedly asked The set of docufor the deferment ments allege that of the opening of the BFAR Technical Working Group the bidding. had come up with the terms of referElbit Systems Land & C4I, Ltd. ence for the bidding of the IMEMS (ELSC), reportedly asked TWG head which were said to have been tailor- John Pagaduan to defer the opening made for one of the suppliers, SRT of the sealed bids until Nov. 26, 2018 Marine Systems, in violation of Sec- to allow it to comply with all the bidtion 18 of the Revised Implementing ding requirements and use advanced Rules and Regulations of the Govern- technology. ment Procurement Law. On the other hand, Fleet Automation A screen shot of a chat among sev- Pte., Ltd. was said to have asked for a eral personalities who appear to be in- deferment of the opening of the bid volved with SRT seems to attest to the documents until such time that BFAR veracity of the allegations. could clarify the kind of monitoring it One of the personalities, who goes wants, noting that it was strange for by the username “countryman5” post- the BFAR-TWG to require reports on ed on Jan. 14 this year in ADVPN each ship or each hour or 24 times a about a supposed project in the Phil- day. In fact, the terms of reference ippines that SRT is working in. was also said to have approved of a The post read, “The SRT sales delayed reporting up to 24 hours. team, headed by ‘ST’ will have spent According to the documents, Fleet numerous weeks/months working in Automation averred the hourly reconjunction with the Philippine auTurn to A5

Adelle Chua, Editor

EDITORIAL

We deserve better

CONSORTIUM composed of Davaobased businessman Dennis Uy and China Telecommunications has qualified to be the lone bidder to be the Philippines’ third telecommunications player. Two other contenders were disqualified by the National Telecommunications Commission’s Selection Committee after preliminary evaluation. The process promises to be tricky. This early, one of the disqualified bidders is saying the bidding process was unfair. Another entity is saying it will file a complaint against the successful consortium, Mislatel, for breach of contract in the use of its franchise. The public has never expected the bidding for such a big undertaking to be easy; in fact, we have

waited long—too long—for the process to move forward. There is no question on the need for a third player. Telecommunication has become a touchy issue because poor service, high costs, and a lack of alternatives have deﬁned Filipinos’ mobile and Internet experience over the year. Despite these constraints, calling, texting, and going on social media continue to be a way of life

for millions of Filipinos. Again the national virtue-slashvice of resilience comes into play, with people making do with what is available just because they feel they have no other option. As a result, those who claim to serve their needs often do so by their own standards and at their glacial pace. Then again, just because the public is desperate for a third player does not mean the process should be done haphazardly, or questionably. There is just too much at stake. We will be watching the developments on the bidding as we assert our right to better service, and more options.

Beauty and the beach tourists are limited and entry to the island is restricted by certain requirements imposed on tourists. Tourists DANILO are also required to take the “Oath for SUAREZ a Better Boracay” which binds them to the strict observance of rules and IN JANUARY 2016, CNN featured the regulations of the island. The Presiresults of a 5-year JICA study of Bo- dent declared that casinos will not be racay’s marine and coastal ecosystems. allowed to operate in the island. The marine and ecosystems were found While the rules are put in place to be “highly endangered.” Two years provide a sustainable ecosystem and ago, I featured the JICA ﬁndings in my tourism in Boracay, it is equally imporcolumn, where I expressed deep con- tant to regard the welfare of the visitors, cern that, if unmitigated, the island’s local businesses and residents of the isenvironment sustainability would be ir- land who rely on tourism for their livereversibly compromised. lihood. After the long hiatus, businesses Early this year, Boracay was de- are struggling to get back especially scribed as a “cesspool” due to sus- when a lot of activities are still banned. tained environmental damage from Perhaps, it is possible and fair for the poor waste management. In April, the government to revisit the prohibitions President ordered and determine the closure of the which are feasiBoracay shores to ble to the island’s both tourists and survival over-all. Boracay must locals in order to In the long term, rehabilitate and re- remain a favored tourist the challenge is to store the environmaintain sustainment to its natural destination because ability across the and pristine state. of its beauty and its board. Boracay Local economic vibrant local scene. must remain a faactivities were vored tourist desparalyzed by the tination because of absence of tourits beauty and its ists and closure of vibrant local scene. hotels and establishments which have This move of the President to rehabeen noncompliant to and committed bilitate Boracay has been lauded by violations of rules, regulations, and many environmentalists and tourists, ordinances in the area. even by foreign media. Thailand has After six months, Boracay reopened followed suit with the closure of its on Oct. 26, 2018. Boracay has trans- Maya Bay to revive the destroyed corformed into a “new” spotless white als due to pollution caused by beach beach. Allowing Boracay to “breathe” and aquatic activities. Indonesia has restored life in the island. With the also declared a garbage emergency in reopening of the beachfront, the De- late 2017 due to the volume of garpartment of Environment and Nation- bage, particularly plastics, washed al Resources is strictly implementing ashore. rules and regulations to preserve the It is time to assess the state of our cleanliness of the beach and the wa- top tourist destinations and evaluate the ters. A lot of activities such as beach implementation of environmental laws parties, smoking, drinking of alco- and regulations in these areas. Perhaps, holic drinks and dining by the beach, it is also time to revisit these laws to are banned. Sand castle-making and adapt to the changing social practices ﬁreworks displays will be regulated. and trends, and impose sustainable Water sports and diving activities are measures to preserve the beauty of our temporarily prohibited. The 30-me- tourist destinations, most especially the ter no-build zone is also strictly ob- beaches of Boracay and Palawan which served. Some of the businesses have are renowned globally for its beautiful not been allowed to operate until their white sands. sewerage system are compliant with I am hoping this temporary closure be DENR regulations. The number of the last Boracay will ever experience.

OVERSIGHT

What to do with the third telco? Tech of China. PT&T and SEAR were disqualiﬁed yesterday by NTC for their alleged incomplete submission of required documents. The two entities said they will ﬁle an appeal with the NTC. ONLY one bidder passed the initial review of the National Telecommunications Commission’s preliminary selection process yesterday – Mislatel Consortium, comprising of China Telecom and Dennis Uy’s Udenna Corp., and Chelsea Logistics Holding Corp. They were among the three bidders that went through with the NTC’s third telco selection process. The other two were Philippine Telegraph and Telephone Corp. (PT&T) and SEAR Telecom consortium made up of Tier One Communications (based in Mindanao), Luis “Chavit” Singson (LCS) Group of Companies, Southeast Asia Telecom of Cambodia, Miller Pte Ltd. of Singapore, and Fujian Torch Electron

ties bought selection documents from the NTC,” according to a press handout. “These are China Telecommunications Corporation, PT&T, NOW Telecom, Inc., Telenor ASA Group, Udenna Corporation, LCS Group of Companies & Tier 1, Mobiltel Holding GmbH, Converge ICT, AMA Telecommunications Corp., and an undisclosed bidder.” Three observers were invited to witness It seems on the the opening of bids on Nov. 7: the Commission of Audit, the Foundation for Media surface that some Alternatives, and the Philippine Technologiprominent folks are cal Council, as well as two representatives looking to make a killing each from the DICT, Ofﬁce of the Executive Secretary, Department of Finances, National on this opportunity. Security Council, Department of Justice, Philippine Competition Commission, and Securities and Exchange Commission to join the Technical Working Group yesterThe NTC and the Department of In- day, when the bids were opened. formation and Communications TechnolThe event was touted as the fulﬁllment ogy previously announced that “ten parTurn to A5 Rolando G. Estabillo Publisher

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Opinion A truly inter-modal facility PRESIDENT Duterte led the inauguration of the so-called Parañaque Integrated Terminal Exchange last Monday. The terminal is indeed impressive. Built at a cost of about P4.8 billion, it has been billed by the Department of Transportation as an integrated and multi-modal terminal. Integrated in a sense that everything will be done in one single facility which is located in a five-hectare property. Multi-modal because passengers coming from Southern Luzon will all disembark at the terminal and transfer to other vehicles to complete their journey to the Metro area. The facility was designed to accommodate 100,000 passengers a day and features modern departure and arrival bays for buses, jeepneys, and taxis. Even the President, who has avoided tackling the Metro traffic problem head on, was impressed by the facility, saying that this will help lessen traffic congestion in the Metro area. But will it indeed lessen traffic congestion? I really hope so. After all, this project is part of Build, Build, Build government program. And to be fair to the DOTr planners, this project has been long time coming and credit should be given to them for pushing it through. But there are some issues that cannot be overlooked. This is the description of the facility as being multi-modal. It is a well-known fact that there are four basic transport modes. Land, rail, air, and sea. If the facility is indeed inter-modal, what this means is that those passengers coming from the South will disembark in the facility and then transfers to a rail transport to complete their journey to the Metro area. Nothing in the report, however, mentions this. In fact, all that the report mentioned were different bays for buses, jeepneys, and taxis. This factor is important because if the facility will be processing from 100,000 to 200,000 passengers, there will be a need to provide additional buses, jeepneys and taxis to bring these thousands of passengers

to the Metro area. Even if the DOTr will say that the passengers will take the same transport units bringing people to the facility for their outward journey, there will almost certainly be a net increase in land transport which will add vehicles in Metro streets instead of decongesting traffic. Buses or jeepneys cannot be classified as inter-modal. If, however, the LRT line being extended to Cavite will be diverted to the facility to collect all disembarking passengers from the South, this would be the most ideal situation. If not, then the facility cannot be truly classified as inter-modal.

All that the report mentioned were different bays for buses, jeepneys, and taxis.

*** Congressman Johnny Pimentel of Surigao Del Sur is proposing that the number of women recruits in the Philippine National Police be increased from 10 percent of the whole force to 20 percent. It appears that the good Congressman’s move was a reaction to an alleged misconduct of a policeman, PO1 Edgardo Valencia of the Manila Police District, who has been accused of sexual misconduct by a ﬁfteen year old girl who alleged that he raped her in exchange for the release of her parents who were in jail for a drug-related offense. The thinking of Congressman Pimentel is that if there are more policewomen available in the PNP, such incidents could be avoided because there will be more female police personnel to handle similar cases. There is also an advocacy group saying that what happened to the girl is not an isolated case, an accusation that the Chief PNP, Oscar Albayalde, vehemently denies, saying the case is an isolated case. He also said that one case cannot and should not be used to charac-

terize the whole PNP. The motive of Congressman Pimentel is understandable but is too simplistic a solution to a problem that requires deeprooted solutions. What is bothersome though is that the accused policeman is the lowest in the enlisted ranks and such behavior must never be tolerated. Maybe the PNP leadership should look at reforming and improving current recruitment and training policies to be more selective on people being recruited into the police force. Predictably, Director General Albayalde shut down the proposal of Congressman Pimentel by citing the physical limitations of a woman, such as getting pregnant, and the length of maternity leaves which could disrupt police functions. But child-bearing or the length of maternity leaves should not be given as a reason to limit the number of women who want to enlist in the Police force. There is already a law that protects the rights of citizens when it comes to employment opportunities against discrimination because of gender, religion, or race. What should determine the number of women in the police force must be the needs of the force and not an arbitrary number determined by certain individuals because of old-fashioned beliefs or misconceptions. In the Philippine Military Academy, for instance, the number of women entering the institution is determined by the number of applicants who pass the tough written examination and the rigorous physical examination. Many military and police organizations around the world also have not limited the number of women allowed to join because of pregnancy and length of maternity leaves. Some countries like Israel are well-known for having women soldiers doing the same things as men do. In Russia, we have read historical instances during the 2nd World War of women in combat alongside their men folk against the vaunted German Army. In the United States armed forces, there are now women ﬁghter pilots. Women are also allowed to try for the tough Army Ranger training course. In this day and in age, we ﬁnd more and more taboos disappearing.

What... From A4

of President Rodrigo Duterte’s promise of bringing in a third telco to provide an alternative to Globe Telecom and PLDTSmart, which between the two of them service the majority of telco customers in the country. Customers often complain of slow service, expensive charges, and hidden fees from the two major existing telco providers. Bringing in the third party will supposedly break Globe and Smart’s hold and provide them with competition. However, it must be ascertained that there are no undue advantages being given to foreign companies and that there is no conﬂict of interest among the parties involved in the effort. It seems on the surface that some prominent folks are looking to make a killing on this opportunity. Let’s hope that this is a genuine attempt to give long-suffering telco customers a better and cheaper alternative to what’s available now.

‘Paquito’ Ortigas Jr.”—a biography written by respected and multi-awarded Philippine literary ﬁgure Alfred ‘Krip’ Yuson —will be launched on Nov. 10 at the Edsa Shangri-La Hotel. According to the book’s executive publisher Fernando M. Ortigas, “Rare are sons who surpass the greatness of their fathers. Such a one was Don Francisco ‘Paquito’ Ortigas Jr. Krip Yuson’s narrative of Don Paco’s accomplishments has raised the bar. As one of [Paco’s] sons, I can only ﬁnd one solution in trying to surpass the greatness of my father – I can make sure the Filipino people read about his life.” ‘Paquito’ Ortigas Jr. was best known for his real estate acumen, in the 1930s raising from the hinterlands of what are now known as Mandaluyong, San Juan, Pasig, and Quezon City a progressive urban complex comprising various development projects including subdivisions (Valle Verde, Wack-Wack, Greenhills, Green*** meadows), shopping complexes, hospiThe handsome coffee-table book “Lin- tals, schools, churches, and more. eage, Vision, and Empire: Don Francisco But as “distinguished as he was as a

man of the law and business—much like his father—Don Paquito was also quite a man of letters,” Yuson writes. He engaged in extensive correspondence with numerous personages around the world. He also kept a diary where he recorded ideas, thoughts, and interesting aphorisms, some of them related to time management: “Anticipate your schedule for the day and try as much as possible to follow it. Thus you can get things done more methodically and efﬁciently.” Sage advice now as then. “Lineage, Vision, Empire” is also important as a glimpse of Philippine history during that era, being replete with anecdotes, photos, and other valuable images and stories. It is a welcome addition to the ranks of taipan biographies that illustrate the lives and life lessons of the successful businessmen whose accomplishments have shaped our country. *** Dr. Ortuoste, a writer and researcher, has a PhD in Communication. FB and Twitter: @DrJennyO

Midterm election loss won’t put Trump back in his box

By Sebastian Smith

WASHINGTON—Donald Trump boasts about winning, but after Democrats seized the House of Representatives on Tuesday, the reality show-host-turned-president is finding out how it feels to be one of the “losers” he usually mocks. And has he responded with humility? Did the former billionaire real estate dealer and ringmaster at “The Apprentice” appear downcast? No. Trump was triumphant. He tweeted that the midterm elections— in which Democrats defeated his Republicans to control the lower house of Congress for the first time in eight years—were “a tremendous success.” His eye-popping enthusiasm after losing half of Congress on Tuesday is not as unrealistic as it might appear: his Republicans have retained and even expanded their Senate majority, while fighting with the House may yet be to his advantage when it comes to his own reelection in two years. The tweet, ending with a cheerful “Thank you to all!” was pure Trump. He’s a president who since his shock 2016 election win against heavy favorite Hillary Clinton has repeatedly torn up the expected script to write his own. ‘Tough night’ Howard Kurtz from Fox News, the net-

work that Trump loves to watch and to talk to, declared the loss of the House “a turning point.” “No amount of spin can soften the blow of losing the House to the Democrats. Indeed, there were reports that White House ofﬁcials had told the president to brace himself for a very tough night,” Kurtz wrote on the Fox website. It’s sure that the Democrats—who have been pilloried by Trump in the most extreme terms during the election campaign—will take their opportunity to hit back. Controlling the House means controlling committees with subpoena power. They will be tearing into Trump’s carefully hidden personal ﬁnances and links to Russia, a legal morass already being investigated by special counsel Robert Mueller. The top Democrat on the judiciary committee, Jerry Nadler, told MSNBC’s Ari Melber immediately after the election that “we’ll use subpoena power if we have to, when we have to.” Not a politician famous for being able to take criticism, Trump can be expected to respond blow for blow. Washington, mockingly known as “the swamp,” may be in store for some unprecedented partisan ugliness. Silver lining 2020 Of course, there’s a slender chance that the shock of the midterms will produce a kinder, gentler kind of Trump who once more breaks Washington’s rules by actually

cooperating with the Democrats. According to the office of Nancy Pelosi, the Democrat in line to become the new speaker of the House, Trump called her after the results came in “to extend his congratulations.” “He acknowledged the Leader’s call for bipartisanship,” Pelosi’s deputy chief of staff, Drew Hammill tweeted. But if the olive branch withers, Trump could arguably even benefit from open war with the House. First, the Republicans have firm control over the Senate. That means that Trump can still get things done, not least confirmation of right-leaning judges with lifetime appointments. As Republican Senator Lindsey Graham said Tuesday: “the conservative judicial train will keep running.” Even more importantly, conflict with the Democrats could simply fuel Trump’s real goal of reelection in 2020. The Trump base will have no problem believing him when he says that Pelosi and her Democrats are to blame for every ill in the country. And White House spokeswoman Sarah Sanders noted another detail from the midterms that will quietly please Trump: candidates he supported in election rallies did “very well tonight.” In other words, the midterms are just the opening battle of the 2020 election—and Trump thinks he might just get back to winning. AFP

THURSDAY, NOVEMBER 8, 2018

mst.daydesk@gmail.com

Why RP 2018 growth forecasts are being lowered its forecast to 6.5 percent. Like ADB, IMF expressed concern about the likely adverse economic impact of the steady rise in this country’s inflation rate, which is now 6.7 percent, a nine-year high. IMF also exINTERNATIONAL lending in- pressed concern about the widstitutions and foreign financial ening of the national budget facilities are always careful deficit. The Duterte administration is when preparing GDP forecasts for their client-countries. They targeting a deficit of 3.3 percent not only take into account the and 3.2 percent of GDP for 2018 mix of circumstances—eco- and 2019, respectively. IMF nomic, political and social— considers those deficit figures under which an economy is expansionary. It would like the currently operating, they also Philippine government to target review the economy’s record a neutral—not expansionary— of ability to stay on the same fiscal policy. Deficit targets of course and to maintain a mo- 2.4 percent this year and 2.5 mentum. Things happen as a percent in 2019 would, in IMF’s year progresses that will make view, be neutral targets. Though even more sanguine, the economy go off-course or the World Bank has nonethelose momentum. International lending institu- less lowered its Philippine 2018 tions—in the Philippines’ case, growth forecast by two notches the International Monetary to 6.5 percent from 6.7 percent. What was it about the PhilFund, the World Bank and the Asian Development Bank—and ippine economic environment foreign financial entities are that cause World Bank to beeven more careful when they come less gung-ho? In its most recent Philippine decide to revise country GDP growth forecasts downward. Economic Update, World Bank The reason for this is the nega- stated: (T)he domestic econtive effect of downward fore- omy slowed in the first half of cast revisions on economic, the year due to weak exports of and more importantly, political electronics and underproducsentiment in the countries that tion in the agriculture and fishthey adjudge to be unlikely to eries sectors due to unforeseen weather disperform less turbances.” well. W o r l d But instiBank’s sentutions like ior econothe World They are all less mist in the B a n k , gung-ho about Philippines the IMF, elaborated Nomura Se- this country’s likely on the PEU curities and near-term economic by saying J.P. Morgan performance. this: “Food Chase have inflation is no reason the main to sugarcoat driver of the their assessments of the economic pros- rapid inflation rate…(T)he expects of their client-countries. ternal factors, along with the They tell it—good things or bad widened trade deficit, have resulted in the further weakening things—like it is. Until around the middle of this of the peso by 7 percent so far year, international lending insti- this year…(H)igher oil prices tutions and the foreign financial and transport costs… contributcommunity were quite positive ed to the above-target inflation about the growth prospects of the past few months.” Zeroing in further on inflathe Philippine economy in 2018. But in recent months, they have tion, the PEU stated: (A) high become more cautious in their as- inflation rate poses another risk sessments of this country’s 2018 to growth, which could dampen economic growth prospects. private consumption and investThey have become somewhat ments.” As can be seen, World Bank’s less gung-ho. Thus, Asia’s other develop- concerns are the rising inflation ment financing institution—the rate, possible declines in private China-sponsored Asian Infra- consumption and investments, structure Investment Bank—is weak exports, agricultural unnow in the picture. It has re- derproduction, rising transport duced its Philippines’ growth costs, and the steady weakening forecast for 2018 to 6.4 per- of the peso. They may differ in their reacent. The previous forecast was 6.6 percent. In its explanation sons for revising downward for the forecast revision, ADB their forecasts for the 2018 spoke, among other things, of Philippine economic growth, the lively adverse impact of the but the international lending incurrent inflationary surge on the stitutions and the foreign financial entities have one thing in Philippine economy. Though it made a downgrade, common at present: they are all IMF was a little more sanguine less gung-ho about this counabout the Philippine economy’s try’s likely near-term economic prospects in 2018. It revised performance.

Something’s... From A4

porting defeats the very purpose of real-time monitoring, which means all vessels can be monitored all the time, although it added that it was amenable to the 24 reports per vessel per day as minimum requirement for the bidders. The company also raised technical questions on the use of satellite imagery, the application of appropriate communications technology and the ruse of radars and the back-up systems for information storage. On Oct. 24, a day after BFAR-TWG stopped entertaining inquiries from ELSC and Fleet Automation, a letter, which is part of the set of documents received by this writer, was sent to Agriculture Secretary Manny Piñol to complain that the “technical speciﬁcations” for the bid were sent to SRT Marine Systems, whose CEO is James Tucker, ahead of other bidders. This action, the letter stressed, violates Section 19 (Access to Information) of the Government Procurement Law and Resolution No. 21-2017 of

the Government Procurement Policy Board which was promulgated on May 30, 2017. The letter added that SRT Marine Systems also announced in stock fora that the company will earn much once it secures a big contract from the government of a country in Southeast Asia. Only the Philippines is currently in the process of bidding out a project described by SRT Marine Systems. While this complaint still needs to be verified (although reports reaching this writer claim that a formal complaint had already been filed before the Office of the Ombudsman, but this also, has still to be confirmed), Secretary Piñol has to look seriously into this matter before the project is awarded to the winning bidder, thereby avoiding putting the government in a serious disadvantageous position. There’s no harm in checking. Better be safe than having to suffer under a damaging contract.

News

THURSDAY, NOVEMBER 8, 2018 mst.daydesk@gmail.com

Monreal says unrefunded terminal fees are intact MANILA International Airport Authority general manager Eddie Monreal on Wednesday assured the government the more than P277-million unrefunded terminal fees remained intact in the agency’s custody. “The amount is kept by MIAA in a trust account and is distinct and separate from the agency’s corporate funds. The money does not belong to MIAA. It will remain in the trust account until fully refunded to the passengers who own them,” he said. Monreal said domestic terminal fees remitted to MIAA totaled P172,333,700. He added the amount came from Cebu Pacific Air and its sister airline Cebgo and covered unused tickets. Meanwhile, P105,320,679 remitted to MIAA by 18 international carriers pertain to international terminal fees left unrefunded by Overseas Filipino Workers and non-OFW passengers. “Together, the total amount remitted to MIAA by air carriers amount to P277,654,379 million pesos as of November 6, 2018. This is contrary to the P500 million which came out in news reports earlier this week,” the MIAA clarified. The airport authority stated that OFWs only need to present their copy of the Overseas Employment Certificate and ticket among others, to refund. On the other hand, non-OFW passengers with unused airline tickets may refund by showing their ticket or proof of purchase and ownership or certification from the airline that they were not able to take their flight. Monreal said that Transportation Secretary Arthur Tugade had ordered the funds transferred to the appropriate agency if directed by the authority vested with the mandate to decide on the matter. Department of Labor and Employment secretary Silvestre Bello III said earlier that the collection of terminal fees was “illegal” because Presidential Decree 1183 and Republic Act 8042, or the Migrant Workers and Overseas Filipino Act of 1995, stated that OFWs are exempted from paying travel tax and terminal fees. Joel Zurbano

SSS disburses P442 m for EC pension THE state-run Social Security System has said more than P442 million was disbursed to more than 17,000 Employees Compensation pensioners following President Rodrigo Duterte’s approval of the EC benefit increase last May. SSS, the administrator of EC claims for private employees, said more than P442.38 million was disbursed to 17,619 EC pensioners in additional benefit of P1,150 starting January 2017 until October 2018 including the 13th month pension for the year 2017, and in additional carer’s allowance of P425 per month starting May 2018 to October 2018. SSS president and chief executive officer Emmanuel Dooc said that as of Nov. 2, nearly 100 percent of the additional benefit had been given to EC pensioners thru their respective partner bank. “As soon as we have received the notice that President Duterte had approved the additional benefit for EC pensioners, we immediately updated our systems to identify and enable the disbursement of the additional benefit. We have to fully align our system so that the correct number of pensioners will be given the benefit. Funds were already released to our partner-disbursing banks on Oct. 19, 2018,” Dooc said. “Nearly all qualified EC pensioners have received their additional benefit through their respective banks as we have already requested our partner banks to credit the additional benefit to the bank accounts of the pensioners immediately,” he added. Based on Executive Order No. 54. s. 2018 signed on May 8 this year, President Rodrigo Duterte approved a P1,150 across-the-board increase in EC monthly disability pension of all EC permanent disability pensioners and qualified beneficiaries in the private sector. The EO also increased the amount of carer’s allowance granted to EC permanent disability pensioners in the public and private sector from P575 to P1,000 per month. “There is a need to continually improve benefits under the Employees’ Compensation Program (ECP) to make them more responsive to the welfare and development needs of occupationally disabled workers,” the order reads.

COLD WINDS ARE HERE. Promenaders on Wednesday walk past a Yuletide themed mini park outside a Pasay city mall, 48 days before Christmas day itself in predominantly

Christian Philippines. Ey Acasio

Cebu Pacific cancels 30 local, int’l flights By Joel E. Zurbano

HE Cebu Pacific Air has announced it has canceled more than 30 domestic and international flights on Nov. 12 to 22 to give way for the scheduled runway pavement improvement at the Ninoy Aquino International Airport. “Cebu Pacific will be adjusting the schedule of its flights in line with the closure of the Ninoy Aquino International Airport runway from 12 am to 6 am on Nov. 12 to 17, and Nov. 19 to 22, 2018,” the CEB management stated in its advisory. It added the closure of the runway is necessary to allow for vital maintenance work spearheaded by the Civil Aviation Authority of the Philippines and the Manila International Airport Authority. The pavement works at NAIA, accord-

ing to CAAP chief information officer and spokesperson Eric Apolonio, would be made also to upgrade the runway and ensure the safety of aircraft and passengers. Among those cancelled are international flights to and from Guangzhou, Hong Kong, Saigon, Macau, Xiemen, Kota Kinabalu, Siem Reap and Bandar Seri Begawan. On the other hand, the domestic flights affected are to and from Bacolod, Cagayan de Oro, Cebu, Davao, Iloilo and Zamboanga.

The CEB management apologized for the suspension of the flights. “We regret any inconvenience these flight adjustments may cause. We appeal for understanding and support from all passengers and stakeholders for this necessary project,” it stated. CEB officials said the affected passengers had been notified of the schedule changes. They urged passengers to avail themselves of the option to: • Rebook their flights for travel within 30 days from original departure date; • Place the cost of the ticket in a Travel Fund for future use; • Get a full refund. Meanwhile, flights going to BacolodSilay Airport would be affected by the temporary closure of its runway 03/21 from 8 am to 12nn on Friday (Nov. 9.)

CONTINUING COMMITMENT. Health care professionals and policy makers tell a news conference at the New World Hotel in Makati City Wednesday what strategies to use to help prevent and combat the global public health threat about antimicrobial resistance and wrong use of antibiotics. (from left) Dr. Regina Berba, Dr.Mario Panaligan, and Dr. Yolanda Robles. Diana B. Noche

House committee approves bill reorganizing Comelec offices By Maricel V. Cruz THE panel in the House of Representatives has recommended for plenary action a bill that increases the salaries of Commission on Elections employees. The bill, approved by the House Committee on Suffrage and Electoral Reforms, chaired by Rep. Sherwin Tugna CIBAC party-list, mandates the restructuring of the Comelec to streamline its operations and provide better pay for its personnel. The bill substituted House Bills 8111 and 8258, both principally authored by Rep. Francisco Datol Jr. of Senior Citizens party-list. Speaker Gloria Macapagal Arroyo is a co-author of the bill. Datol, vice chairman of the House Committee on Senior Citizens, said the clamor of Comelec employees for decent salaries has been falling on deaf ears for so long.

“It will be a continuing injustice to allow our nation’s election workers—the backbone of democratic exercise—with salaries that are grossly disproportionate to their roles in government and society,” said Datol. Datol said for years, the principle of equal pay for equal work and responsibility has not been felt by employees of the Comelec. With more than 5,000 employees nationwide, the Comelec is dominated by the rank and ﬁle workers who receive mid- to lowlevel income, he said. “Comelec employees are working with a stark difference in salary grades compared to fellow employees with similar qualiﬁcations and positions in other government agencies and Constitutional Commissions. This situation moved the employees to organize the Comelec Employees’ Union (ComelecEU) in 2012 to actively work for substantial and just salary increases, among other purposes,” said Datol.

Mandatory pregnancy test rapped By Rio Araja THE Commission on Human Rights has criticized a university in Baguio City for its mandatory pregnancy test. Jacqueline de Guia, CHR lawyerspokesperson, said the dismissal of an unmarried female student, who was found to be pregnant, was a violation of the Magna Carta of Women or Republic Act 9710. “The prohibition against dismissing students on the basis of pregnancy does not distinguish between public or private educational institutions,” she added. According to De Guia, “the CHR is alarmed with the documents circulating in the Internet showing Pines City Colleges policy of mandatory pregnancy testing not only as to possible Magna Carta Women violation but also of other women’s rights particularly on the rights to privacy and bodily autonomy.” She said the CHR’s Cordillera Administrative Region ofﬁce is now conducting a motu propio investigation in accordance to the institution’s due process. “In the past, the CHR has not refused to hold an educational institution in violation of the Magna Carta for Women for dismissing a teacher on the basis of pregnancy,” she said. “Women and girls should not be denied exercise and full enjoyment of basic rights, they should not suffer negative consequences in educational and work spaces, simply because they are pregnant,” she added. Meanwhile, the Alliance of Concerned Teachers Philippines slammed CHED and the Philippine National Police to bring the anti-drug war to universities and colleges. “After terrorizing communities and killing thousands in the guise of the Duterte administration’s war on drugs, PNP now plans to take its bloody and evidently failing ‘Oplan Tokhang’ into colleges and universities, with no less than CHEd holding the doors open for them,” ACT Philippines secretary general Raymond Basilio said.

6 in illegal mining arrested By Vito Barcelo AT LEAST six foreigners engaged in illegal mining operations in Bulacan were arrested by Immigration authorities for lack of work permit. BI Intelligence Chief Fortunato Manahan Jr. said the aliens were arrested after they were caught in flagrante working in their offices at the Xiaobo Scrap Trading Co. in Luasan St., Bgy. Loma de Gato, Marilao, Bulacan. Arrested were five Chinese nationals identified as Junbo Deng, Yunli Zhou, Jun Li, Wei Lin, and Weike Qu and a Taiwanese named as Cheng Yi Huang. Manahan said that except for Cheng, who was found to have a valid resident visa, the five Chinese men were found to be overstaying and undocumented as they failed to present their passports or other travel documents. Marilao residents reported the employment of the illegal Chinese nationals, following concerns about their illegal mining activities in the area. Manahan also received complaints on the alleged involvement of the aliens in an illegal export business. Meanwhile, BI Commissioner Jaime Morente said there would be no letup in BI’s drive against illegal foreign workers, who according to him, “deprives Filipinos of jobs and livelihood opportunities.”

Sports

THURSDAY, NOVEMBER 8, 2018 sports_mstandard@yahoo.com

Makati five renamed Super Crunch

McCollum lifts Blazers past Bucks

By Peter Atencio TEAM Makati has a new player in the team and is shedding its moniker in Maharlika Pilipinas Basketball League. Formerly known as the Makati Skyscrapers, they will now be known as the Makati Super Crunch. The change comes at a time when the squad just took in Meralco Bolts player Joseph Sedurifa to replace one of their key cagers Philip Paniamogan. The Super Crunch lost Paniamogan after he got a call up to join the NLEX Road Warriors in the Philippine Basketball Association. They are currently running fourth in the team standings of the ongoing MPBL Datu Cup. And with Sedurifa coming in, the team manager Paolo Orbeta said they are now a complete team. “We are doing well, and we are happy that we are a complete team,” said Orbeta during a team gathering in Dasmarinas Village. The Super Crunch team is now backed by snacks company Trifoods, Inc., will carry the brand for a year following an agreement with marketing executives led by Enrique Yap. “We see a lot of potential here,” said Yap, on the team which is also co-owned by Martin Arenas. Coach Cholo Villanueva is tasked to bring the squad to a successful campaign in the ongoing cagefest which has 26 teams participating. With their 8-4 win-loss card, Villanueva hopes to improve on their record in fourth spot. “We are in a good position. Na overcome na namin ang mga adversities namin,” said Villanueva. The team boasts of good players like Rudy Lingganay, an ex-pro, and PBA aspirant Cedric Ablaza.

SM Aura to host 2018 TACS EXPO FOLLOWING the success of the first Tactical and Survival Expo last year – a more comprehensive TACS EXPO in 2018 will be staged with its new name – Tactical, Survival, and Arms Expo. With its theme – “Defense, Security, and Survival Show for Sustainable Living,” the expo aims to address global issues on environment, economic uncertainty, security threats, and the like. “It is high time that a unique show such as this will be held in the country. TACS Expo, which focuses on involvement of various manufacturers and their representatives, will be an avenue to reach out to everyone and create awareness on how to prepare to emergency and life threatening situations. And of course… Admission to the expo is FREE with online or on-site registration,” said Severo “Conkoy” Tuason, ARMSCOR’s Chairman of the Board. TACS Expo will showcase traditional weapons, survival gear, and prepper stuff along with firearms and its accessories. It will also be an ideal Venue for Product launches and B2B arrangements as well as a learning experience for the entire family. TACS Expo is a very well-timed exposition to respond to concerns and querieson how to best prepare and manage circumstances such as disasters and home invasions among others. It also aims to encourage the young and old to become enthusiasts of self-sufficiency and preparedness. The opening ceremonies will be at 10:30 a.m. today at SMX Convention Center, 3rd Level, SM Aura Premier, Bonifacio Global City. The show will run from November 8-11, 2018. For further details, please contact Richard Ramos at 0936-992-2275.

Portland Trail Blazers guard CJ McCollum (3) drives to the hoop against the Milwaukee Bucks on November 6, 2018 at the Moda Center in Portland, Oregon. AFP

FVR leads 4th Plaridel Golf ceremonial tee off F

ORMER President Fidel V. Ramos will lead the ceremonial tee off of the 4th Plaridel Golf Cup Tournament slated on Friday, November 9, 2018 at the Villamor Air Base Golf Club. Tee off time starts at 7 a.m. This year’s tournament, organized by the Association of Philippine Journalists Samahang Plaridel Foundation Inc., is being sponsored by Oriental Group, Philippine Airlines, Liwayway Marketing Corp., PAGCOR, GMA Network, Ayala Land Inc., Steel Asia, San Miguel Corp., Agila ng Bayan,

Congressman Edgar Erice, Manila Water, Asia Brewery and F.F. Cruz & Company Inc. Media partners include Manila Standard, Manila Times and Market Monitor. Samahang Plaridel President Rolando Estabillo said the 18-hole golfest seeks to foster goodwill and camaraderie among golfing

journalists and their friends. “We hope media golfers can gather for a friendly round of golf to unwind from our stressful day at the job,” said Mr. Estabillo. Registration is still ongoing. Trophies await winners in two divisions: media and guest, while surprise merchandise items will be up for the traditional raffle. For the details, call the Samahang Plaridel Secretariat thru Ms. Nelly Lumbaca at tel. nos. 0920-928-6498/ 7856020 or send an email at apjsamahangplaridel@gmail.com.

LOS ANGELES—CJ McCollum scored 40 points Tuesday as the Portland Trail Blazers cooled off the redhot Milwaukee Bucks with a 118-103 NBA victory. McCollum connected on 17 of 23 attempts from the field, including five of 10 from three-point range, as the Trail Blazers improved to 8-3 and handed Giannis Antetokounmpo and the Bucks just their second defeat of the season. “It’s a great win for us,” said McCollum, who scored 19 points in the third quarter alone. Among his myriad highlights, a wicked move around Donte DiVincenzo that brought the Bucks rookie to his knees. “Whenever you see a rookie you’ve got to be aggressive, attack them, make them move their feet,” McCollum said. Meanwhile, Luka Doncic scored 23 points to lead five Dallas players in double figures as the Mavericks snapped a six-game skid with a 119-100 victory over the Washington Wizards. Doncic, the 19-year-old Slovenian rookie, added six rebounds and three assists for the Mavs. Wesley Matthews added 22 points and Dennis Smith contributed 19—making a trio of crucial plays down the stretch as the Mavericks thwarted Washington’s bid to rally in the second half. “It’s been a long time since we won a game,” Mavericks coach Rick Carlisle said. “Feels good.” The Wizards trailed by as many as 24 in the first half and were down 70-49 at halftime. But they piled on the pressure in the second half, and trailed by just six with 5:33 to play when Smith got past Dwight Howard for an offensive rebound and fed DeAndre Jordan for a dunk that stretched Dallas’ lead to 101-93. In Charlotte, the Hornets survived 21 turnovers to beat the Atlanta Hawks 113-102. Kemba Walker scored 29 points and handed out seven assists and Marvin Williams added a seasonhigh 20 points for the Hornets, who improved to 6-5. Walker connected on 12 of 22 shots from the field, including four of 10 from three-point range. With 46 threepointers this season he trails only Golden State star Stephen Curry. AFP

Ateneo eyes championship double in UAAP swimming ATENEO stakes its men’s and women’s crowns as the UAAP Season 81 swimming championships unwraps Thursday at the Rizal Memorial Swimming Pool. The Blue Eagles ruled the men’s division for the fourth straight time while the women’s tankers reclaimed the throne last year. Two-time Olympian and three-time MVP winner Jessie Khing Lacuna hopes to end his collegiate career as a winner for Ateneo, which is eyeing a sixth title overall. Lacuna went on a seven-gold medal romp that underscored the Eagles’ domination in the pool last season. Season 79 MVP Aldo Batungbacal and last year’s top rookie Miguel Barlisan will also be the vital cogs for Ateneo, which is facing a tough opposition from De La Salle and University of the Philippines. The Lady Eagles, seeking a fifth crown, hope to continue their reign behind last year’s Rookie-MVP Chloe Daos. A silver medalist 41st Southeast Asian Age Group Swimming Championships last November in Brunei, Daos, became Ateneo’s new swimming phenom after winning six golds and a silver. UP and University of Santo Tomas will be Ateneo’s biggest rivals in the distaff side. UST and De La Salle-Zobel, meanwhile, will defend their boys and girls crowns. The heats will be at 8 a.m. while the finals will be at 3 p.m. Ateneo hopes to achieve another golden double in the UAAP Season 81 swimming championships.

Standhardinger paces PBA Best Player race

San Miguel Beer big man Christian Standhardinger (34) collects the rebound against three Rain or Shine Elasto Painters.

FIL-GERMAN rookie Christian Standhardinger delivered imports’ numbers all tournament long, and emerged the runaway leader in the stats race for the Best Player of the Conference in the PBA Governors Cup. Standhardinger led all local players in scoring and rebounding and was the lone player to put in double-double averages for a whopping average of 43.1 statistical points per outing. The 6-foot-8 center/forward collected 23.3 points and 13.6 rebounds a game and also added norms of 1.6 assists, 0.9 steal and 0.6 block in an outstanding stint in the elimination round of the season-ending conference. A downside for Standhardinger

was a mere sixth-place finish by the Beermen in the prelims. They need to win two in a row versus the Alaska Milk Aces to make the best-of-five semifinals. Barangay Ginebra center/forward Japeth Aguilar put in averages of 19.9 points, 6.9 rebounds, 1.8 assists, 1.0 block, and 0.5 steal as he placed second behind Standhardinger in the BPC race with 34.8 SPs an outing. Closely trailing Aguilar are Alaska Milk’s Chris Banchero (34.2), NorthPort’s Stanley Pringle (34.0) and Phoenix Petroleum’s Calvin Abueva (31.9) to round out the Magic Five. The next five are NorthPort’s Sean Anthony (31.3), Magnolia’s Paul Lee

(30.9), TNT KaTropa’s Terrence Romeo (30.4), Ginebra’s Scottie Thompson (30.1) and Columbian Dyip’s Jerramy King (29.1). Banchero, who is enjoying his best conference in the local pro league, leads all comers in assists (8.7) while Anthony paces the field in steals (2.25). A wild and wooly race is seen in the Best Import derby. Alaska’s Mike Harris (60.4), Ginebra’s Justin Brownlee (59.1) and Phoenix’s Eugene Phelps (58.0) are bunched tightly in the Top Three. Aaron Fuller (57.4) is closely behind the three but he’s essentially out of the race on the exit of NLEX in the tourney in losing their quarterfinal matchup with Ginebra.

Sports

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

THURSDAY, NOVEMBER 8, 2018

Falcons trounce Growling Tigers Games Saturday 2 p.m. Adamson vs UE 4 p.m. UST vs UP

By Peter Atencio

Meralco Bolts guard Baser Amer (right) stretches in for a layup attempt against Phoenix Fuelmasters defenders, from right: Calvin Abueva and LA Revilla.

Eriksson targets Suzuki Cup win SVEN-GORAN ERIKSSON once pushed for World Cup glory with England but the much-travelled coach is now eyeing Southeast Asian silverware with his new team, the Philippines. The Philippines have never won the Suzuki Cup but the door could be open for the 70-year-old Swede after Thailand, the defending champions, were forced to field a weakened team. As the 10-team tournament kicks off this week, Thailand, the Philippines and Vietnam also have one eye on the much bigger Asian Cup, which they will play in January after it expanded to 32 teams. Thailand have dominated Southeast Asia’s biennial tournament, winning the last two editions and a record five in total. But Eriksson, who took England to World Cup quarter-finals in 2002 and 2006, has targeted an improvement on the Azkals’ three semi-final appearances from 2010 to 2014. “The pressure is on the whole team to try to do better in the Suzuki Cup than the Philippines has done before. That means at least reaching the final,” said Eriksson. As the Suzuki Cup isn’t part of FIFA’s official calendar, Thailand’s Japan-based stars Teerasil Dangda and Chanathip Songkrasin, the top-scorer and M VP respectively in 2016, are unable to make the trip. Captain Theerathon Bunmathan is also busy in Japan, while goalkeeper Kawin Thamsatchanan has not been released by his Belgian club OH Leuven. Football Association of Thailand president Somyot Poompanmuong suggested the Thais’ priority was the Asian Cup, where they haven’t reached the knockout stages since 1972. “The Asian Cup is very important for us,” he told AFP. “We want to get past the group stage. That is our target this time.” AFP

Bolts extend series against Fuelmasters By Jeric Lopez

ERALCO will live to ﬁght another day. The No. 7 seed Bolts unleashed a booming third quarter surge to help them rout No. 2 seed Phoenix, 90-74, and survive in the Quarterﬁnals of the 2018 Philippine Basketball Association Governors’ Cup at the Cuneta Astrodome in Pasay City last night. Reigning two-time Best Import Allen Durham once again unloaded a monster game, finishing with 26 points and 16 rebounds for a double-double to lead the way for Meralco. The backcourt tandem of Chris Newsome and Baser Amer provided a lot of support, scoring 18 and 16 markers, respectively. Meralco, who entered with a twiceto-win disadvantage, unleashed a critical 17-2 run midway in the third to get some needed separation and a double-

digit lead in the contest, 60-45, after a lay-up from Durham at the 4:37 mark of the period. That decisive stretch proved to be the difference for the Bolts as they were able to sustain their run to secure the victory. Meralco carried a 66-55 lead into the payoff period and never looked back as Phoenix was unable to respond. The Bolts and the Fuelmasters will meet again tomorrow in a deciding rubber match to see who moves forward to

the semifinals. The winner between them will face the victor in the series between No. 3 Alaska and No. 6 San Miguel, who are going at it as of this report, in the next round. The Aces, with a twice-to-beat advantage, are trying to clinch a berth in the semis as they are working on toppling their nemesis in the Beermen. Meralco outscored Phoenix, 33-20, in the vital third quarter. The entire first half was actually a seesaw battle which saw Phoenix carrying a slim 35-33 edge. Meanwhile, on the other side of the fence, top seed Barangay Ginebra and No. 4 Magnolia, who both maximized their incentives, are both already through to the semifinals. They face each other in an anticipated best-of-five affair in the next round.

Carlsen to defend crown against Caruana LONDON, United Kingdom—Norway’s Magnus Carlsen will seek to cement his reputation as history’s greatest chess player on Friday when he launches a defence of his crown against the first US title contender since Bobby Fischer in 1972. Both Carlsen—a 27-year-old superstar at home who is also a part-time model —and 26-year-old Fabiano Caruana are prodigies returning mass appeal to their highbrow game. The world title will go up for grabs in a former London school of art and design whose sweeping glass dome and imposing columns have featured in a recent series of fashion shows. It is a fitting venue for Carlsen. The champion since 2013 has also been one of the faces of a street-smart Dutch apparel brand since 2010. But the chess world is more enthralled with Carlsen’s intuition and prodigious memory than his rugged looks. “There is no doubt that Carlsen is one of the best chess players ever,” British Chess Magazine editor Milan Dinic told AFP. The Norwegian won his third world

title in a series of rapid play tiebreakers against Russia’s Sergey Karjakin in 2016 in New York. His first came when he toppled Viswanathan Anand on the former champion’s home turf in India. Carlsen defended his crown in a rematch played the subsequent year in Russia. But he really began making a name for himself when he managed to draw Garry Kasparov—the Soviet and Russian legend whose record ranking Carlsen eventually broke—at the tender age of 13. Carlsen actually beat Kasparov’s compatriot and nemesis Anatoly Karpov at the same event. He has spent a good part of his time since then making chess fun again. Carlsen took time off preparations for the London series to play an exhibition game against the Liverpool football team’s chess-loving right-back Trent Alexander-Arnold. The 20-year-old rising star lost, but can console himself with the knowledge that he held out against Carlsen for nearly twice as many moves as Microsoft’s Bill Gates. Carlsen has succeeded in “removing the

Magnus Carlsen

stigma associated with chess,” championship organizer Ilya Merenzon told AFP. “He’s not a nerdy looking male and he’s not just another Russian chess player,” said Merenzon. “Carlsen has galvanizing mainstream interest in chess and (is) bringing new people to it.” What Carlsen has done for the global game, Caruana is achieving in the United States. AFP

2,000 vie in national taekwondo tournament

Quezon Taekwondo Academy’s Paul Jacob Daejeon (left) and Team Baguio’s Rodolfo La Torre III trade high kicks during their taekwondo match.

AROUND 2,000 athletes will see action in one of the country’s biggest national taekwondo events—the 2018 SMART/MVP Sports Foundation age group (free sparring) and PLDT HOME ULTERA age group (poomsae) championships on November 10 and 11 at the Rizal Memorial Coliseum. The competition highlights the progress of Philippine taekwondo throughout the country. The twin events will also serve as a vital support to the grassroots sports program as these will also feature participants as young as 4 years old. The tournament will be categorized into Novice and Advance male and female free sparring hopefuls competing in three divisions under each category namely Junior, Cadet and Gradeschool. But poomsae (which means forms), will fea-

ture only blackbelt students who will vie in three events—Individual, Pair and Team. Poomsae is performed by following a systematic time of movement in consecutive consequences against an imaginary opponent/s. The different movements use the hands and feet and interconnected techniques like blocking, punching, striking, thrusting and kicking. Constant poomsae training will help improve flexibility and control in breathing, balance, power, eye focus and mental discipline. Competition will start at 9 a.m. but the opening ceremony is scheduled at p.m. on Nov. 11. Martial arts enthusiasts and sports buffs especially children interested to learn the sport are invited to watch the event also sponsored by Meralco, Philippine Sports Commission, Philippine Olympic Committee and MILO.

THE Adamson Falcons pulled off a major assault in the third quarter and frustrated the University of Santo Tomas Growling Tigers, 96-83, yesterday at the Araneta Coliseum. The Soaring Falcons’ big explosion took a toll on the Growling Tigers in the 81st University Athletic Association of the Philippines (UAAP) men’s basketball tournament. Two big men from the Growling Tigers, Enrique Caunan Jr. and Germy Mahinay, went out on five fouls during Adamson’s big run. Then, scoring ace CJ Cansino was sidelined by a sprained ankle midway in the third period. Adamson proved unstoppable under the boards and posted a commanding 17-point advantage. Trailing 39-40 at halftime, the Falcons unleashed a 15-0 blast at the start of the third period, with Simon Camacho and Jerrick Ahanmisi showing the way. Sean Manganti led with 21 points for the Soaring Falcons, who solidified their grip on the no. 2 seeding in the Final Four semifinals. Simon Camacho had 15 points and Ahanmisi finished with 13 points for the Falcons, who are now headed for their third straight Final Four appearance. “Reaching the Final Four is an achievement. Hopefully, we can improve on our finish this year,” said Pumaren. The Growling Tigers, who drew 21 points from Henri Subido, have a 5-7 win-loss card, and missed their chance of catching up with the Far Eastern University and University of the Philippines (6-6). FEU and UP are in a race for the last seat to the Final Four. Marvin Lee knocked in 10 of 18 points in the second period for UST as they led 40-39 at halftime. The Falcons went on to move away, 68-52, in the last 1:08 of the third off Ahanmisi’s two triples. Ahanmisi hit another trey with 8:22 to go in the fourth to give Adamson their biggest lead, 75-58. Scores: ADAMSON 96—Manganti 22, Camacho 15, Ahanmisi 13, Sarr 11, Lastimosa 10, Pingoy 9, Mojica 8, Mabuhos 4, Catapusan 2, Bernardo 2, Zaldivar 0, Espeleta 0. UST 83—Subido 21, Lee 18, Cansino 17, Huang 8, Mahinay 8, Zamora 7, Bataller 2, Caunan 2, Marcos 0. Quarter scores: 21-20, 39-40, 7058, 96-83.

Greenies, Cagalungan want title THE La Salle Greenhills Greenies made it back to the finals after another spectacular year by Joel Cagulangan. The senior cager, who has committed to join the La Salle Green Archers next year, was MVP when he led the Greenies to the crown last season. He is the season MVP once again and the Greenies could claim the crown again in the 94th National Collegiate Athletic Association (NCAA) junior basketball tournament. It’s not over yet as the Greenies will still have to get past the Malayan High School Red Robins, whom they have to beat in a best-of-three finals affair. So far, the Greenies took Game 1 behind Cagulangan’s heroics, and the last minute defensive efforts of teammates Joshua David and RC Calimag for a 74-69 win last Tuesday. In this game, the 18-year-old Cagulangan, who didn’t expect get a citation, rose to the occasion with two other teammates in the final minute, with his triple in the final minute giving the Greenies a 73-65 edge. Paolo Hernandez, who showed the way for the Red Robins with 20 points, then gave the Greenies a scare in the last 22 seconds when he and Jonnel Policarpio struck in succession to keep the Red Robins within range, 69-70. The Red Robins had opportunities to win it after Greenie big man Mark Sangco bungled a pair of charities in the final seven seconds. But Greenie cager Joshua David stole the ball off Policarpio during a rebound play, and RC Calimag went for a putback as time expired. “That’s Joel. He’s ready to take charge, not necessarily with baskets, but in leading the path (to victory),” said LSGH Marvin Bienvenida on their first win against the Red Robins this season. Peter Atencio

IN BRIEF

BoI approves P515b worth of investments

PROJECTS approved by the Board of Investments reached P515.9 billion in the ﬁrst 10 months, up by 26 percent from P408.8 billion a year ago. “Investments continue to drive growth, based on foreign direct investments and the latest BoI numbers, as investors see the political will of the current administration to institute reforms such as the recently passed Ease of Doing Business Law, as well other factors such as policies leading to further liberalization of more sectors to allow greater foreign equity and reap the potential of demographic dividends such as the growing middle class in a 106-million Philippine market size economy and the young professionals with greater purchasing power,” said Trade Secretary and BoI chairman Ramon Lopez. Foreign investment pledges in January to October surged 156.7 percent to P39.3 billion from P15.3 billion in the same period last year. Top sources of foreign investments were Indonesia with P6.4 billion, Malaysia with P2.9 billion, Japan with P2.8 billion, Australia with P1.1 billion, China with P1.1 billion, the US with P612 million, Italy with P485.7 million, Singapore with P404.1 million and Switzerland with P357.7 million. Othel V. Campos

$750-m food park rising in Pampanga

A WORLD-CLASS liveable food park project designed by famous architects in Southeast Asia will soon rise at the heart of Lakeshore in Mexico, Pampanga to capture not only the local market but also visitors from different parts of the globe. Dubbed as the “Revolution Flavorscapes,” the project was conceptualized by architects Robie Antonio, Nestor Mangio and son Bryan with an initial investment pledge of $750 million at the 140-hectare prime development. “We are not just building subdivisions but a world-class community. We are not building houses but homes,” said the older Mangio during the launching and groundbreaking of the project. Envisioned to be the “worlds ﬁrst livable food park,” Mangio said the project would be an environment-friendly estate. “Lakeshore made sure that we maintain the green and waters even before the Revolution Flavorscapes project came,” said Mangio. The project will build 14,000 homes. It is a joint undertaking of Revolution Recrafted and Central County Estate Inc. Jess Malabanan

Trade deficit swells to $29.9b

THE trade eficit ballooned to $3.93 billion in September and $29.9 billion in the first nine months, after imports surged and exports fell from a year ago. Data from the Philippine Statistics Authority showed that merchandise imports jumped 26.1 percent to $9.75 billion in September from $7.77 billion in the same month last year, while exports tumbled 2.6 percent to $5.83 billion from $5.99 billion. Economic Planning Secretary Ernesto Pernia said the growth in imports of capital goods indicated that firms were making long-term investments. “The import of raw materials and intermediate goods could also indicate the vibrancy of the manufacturing sector as it is expected to sustain its positive growth in the remaining months of the 2018,” Pernia said. “Philippine import payments are seen to remain elevated until 2019, primarily due to imports of capital goods and raw materials to sustain the government’s ‘Build, Build, Build’ infrastructure and manufacturing resurgence programs,” Pernia said. Julito G. Rada

Business

Foreign reserves dropped to 7-year low of $74.77b By Julito G. Rada THE country’s gross international reserves dropped to a seven-year low of $74.77 billion in October, after the government settled some of its foreign exchange obligations and the Bangko Sentral ng Pilipinas helped tempered the ﬂuctuation of the peso against the US dollar. Data from the Bangko Sentral ng Pilipinas showed Wednesday the October reserves were lower than $74.94 billion recorded in September 2018 and $80.4 billion a year ago. The Bangko Sentral said other reasons for the decline in reserves were the government’s net foreign currency withdrawals and foreign exchange operations. The peso dropped to as low as 54.2 against the greenback in October. The decline in the GIR level was partially tempered by the revaluation adjustments on the BSP’s gold holdings resulting from the increase in gold prices in the international market and the bank’s income from investments abroad. “The end-October 2018 level of GIR continues to serve as an ample external liquidity buffer and is equivalent to 6.8 months’ worth of imports of goods and payments of services and primary income. It is also equivalent to 5.7 times the country’s short-term external debt based on original maturity and 3.9 times based on residual maturity,” the Bangko Sentral said. This was the ﬁrst time in seven years that the GIR buffer fell below 7 months worth of imports and services.

business@manilastandard.net extrastory2000@gmail.com THURSDAY, NOVEMBER 8, 2018

Farm output fell 0.83% in third quarter—PSA By Othel V. Campos and Julito G. Rada

GRICULTURE output, which accounts for less than a fifth of the gross domestic product, contracted 0.83 percent year-on-year in the third quarter after several typhoons cut rice and corn harvests, the Philippine Statistics Authority said Wednesday. Four typhoons left billions worth of damage on crop production in the third quarter, partially resulting in tight food supply that pushed inflation rate to a nine-year high of 6.7 percent in September and October. The PSA said despite the thirdquarter contraction, agriculture output grew 0.15 percent in the first three quarters. It said at current prices, the gross value of agricultural production amounted to P409 billion in the third quarter and P1.3 trillion in January to September.

The crops subsector, which represented 45.58 percent of total agricultural output, fell 3.64 percent in the third quarter as palay and corn production declined 5.7 percent and 14.83 percent, respectively. “This was attributed to the damage brought by typhoons ‘Henry’, ‘Inday’, ‘Josie’ and ‘Ompong’ in Northern Luzon and the delayed planting due to the on-going rehabilitation of irrigation facilities and late release of irrigation water in Cagayan Valley and Calabarzon. There were also reports of movement of plantings caused by the late occurrence

of rainfall in some part of Mimaropa region,” the PSA said. Meanwhile, output gains were recorded by coconut, sugarcane, banana, pineapple, coffee, mango, tobacco, abaca, tomato and rubber. Livestock production rose 2.15 percent in the third quarter and accounted for 18.89 percent of the total agricultural output. It said the poultry subsector produced 5.45 percent more output in July to September and contributed 18.44 percent to the total agricultural production. Fisheries production sank 2.64 percent and accounted for 17.08 percent of total agriculture output. Farmgate prices went up 7.71 percent in the third quarter, helping push inﬂation rate in the period. Meanwhile, the government revised the second-quarter gross domestic product growth to 6.2 percent from 6 percent.

Filipinos face healthcare gaps

FILIPINOS face a considerable financing gap as savings, current levels of insurance and government health provisions may not be enough to pay for the treatment of critical illnesses, a survey by AIA Group, Philam Life’s Hong Kong-based parent company, showed. The findings are part of the latest AIA Healthy Living index survey, the fourth since 2011, that highlighted the prevailing health trends and concerns for individuals in the Asia Pacific region. The study showed that 86 percent of Filipinos were concerned about the potential costs of critical illness. When asked to estimate the cost of treatment for cancer they expect they would have to bear, over 81 percent estimate that the cost would have serious financial implications for them. Across all respondents in the Philippines, the financing gap for heart disease is 67 percent and for diabetes 55 percent of direct costs. When asked how they will pay for the treatment of critical illness given the financing gap, 78 percent cited the government while 56 percent said charities or trust. Only 27 percent said this would be covered by their own personal savings and even lower at 19 percent, by an insurance plan. Julito G. Rada

Ray S. Eñano, Editor Roderick T. dela Cruz, Assistant Editor

GLOBE BUSINESS SOLUTIONS. Philippine Gaming Management Corp. taps Globe Business, the corporate information and communications technology arm of Globe Telecom Inc., for the use of G Suite and Secure Email Gateway to maximize business efficiency and to strengthen its cybersecurity measures respectively. Shown are (from left) Globe Business cluster sales head Mike Agustin, Globe Business head of sales Meanne Quiambao, PGMC vice president Tan Eng Hwa and PGMC senior assistant vice president for IT operations Pacifico Jesus Villalino III.

SMIC’s net earnings rose 10% to P26.2b in nine months By Jenniffer B. Austria SM INVESTMENTS Corp., the holding company of tycoon Henry Sy, posted a consolidated net income of P26.2 billion in the first nine months of 2018, up 10 percent from a year ago, on the strong performance of core businesses. SM Investments, which has interests in banking, real estate and retail, said consolidated revenues in the first three quarters grew 12 percent to P307.4 billion from P274.6 billion year-on-year. “The results of the first nine months have been reassuring with the resilient performance of property, banking and retail. Our financial results reflect the ongoing strength of consumer sentiment, even as we continue to monitor inflationary pressures,” SM president Frederic DyBuncio said. The conglomerate said property ac-

counted for 43 percent of the reported net earnings in the nine-month period, followed by banks with 36 percent and retail with 21 percent. Retail operations under SM Retail Inc., which consist of both food (SM Markets) and non-food (The SM Store and Specialty Retail), reported an 11-percent growth in total revenues to P227 billion in the ﬁrst nine months, while net income rose to P7.9 billion from P7.7 billion. Revenues from specialty retail increased 16 percent. SM Retail had a total of 2,212 stores as of end-September, including 62 The SM Stores, 1,315 specialty retail stores, 56 SM Supermarkets, 50 SM Hypermarkets, 194 Savemore, 52 WalterMart and 483 Alfamart stores. SM Prime Holdings also reported a 17-percent growth in net income to

P23.4 billion as consolidated revenues rose 15 percent to P74.6 billion. The mall business grew 12 percent to P43.3 billion, as same-mall sales went up eight percent and mall rental revenues increased 12 percent to P36.8 billion. Revenues of the residential group led by SM Development Corp. increased 23 percent to P25.3 billion while reservation sales jumped 25 percent to P52.8 billion. Banking unit BDO Unibank posted a net income of P21.5 billion, up six percent year-on-year. Net interest income grew 20 percent to P71.5 billion, supported by a 17-percent increase in gross customer loans to almost P2 trillion and a 12-percent growth in total deposits to P2.3 trillion. Total assets of SM Investments increased 9 percent to breach the P1-trillion level for the ﬁrst time.

Enrique Razon

ICTSI’s net profit advances 3% as revenues hit $1b By Darwin G. Amojelar INTERNATIONAL Container Terminal Services Inc. said net income rose 3 percent in the first nine months from a year ago, on strong operating income from organic terminals as gross revenues reached $1 billion. The port operator led by businessman Enrique Razon booked a net income of $153.3 million in January to September, up from $149.3 million in the same period last year. ICTSI said profit in the third quarter climbed 22 percent to $55.6 million from $45.7 million a year earlier. Gross revenues rose 10 percent to $1.005 billion in the nine-month period from $918.3 million in the same period last year. Third-quarter revenues reached $344 million, up 9 percent from $314.6 million last year. “The increase in revenues was mainly due to volume growth; new contracts with shipping lines and services; increase in revenues from non-containerized cargoes, storage and ancillary services; and the contribution from the Company’s new terminals in Lae and Motukea in Papua New Guinea, and Melbourne, Australia,” ICTSI said. ICTSI handled consolidated volume of 7.15 million twenty-foot equivalent units in the first nine months of 2018, or 5 percent more than 6.83 million TEUs it handled in the same period in 2017. “The increase in volume was primarily due to improvement in trade activities at most of the company’s terminal locations and the contribution of new terminals in Lae and Motukea in Papua New Guinea, and Melbourne, Australia. Excluding the new terminals, consolidated volume would have increased by two percent,” ICTSI said. It said that in the third quarter, consolidated throughput was 6 percent higher at 2.43 million TEUs, up from 2.29 million TEUs in 2017. Excluding the new terminals, consolidated volume would have increased by four percent in the third quarter of 2018. ICTSI’s capital expenditures excluding capitalized borrowing costs in the first nine months amounted to $196.4 million, about 52 percent of the $380-million capital expenditures budget for the whole 2018. “The established budget is mainly allocated for the capacity expansion in its terminal operations in Manila, Mexico and Iraq; continuing rehabilitation and development of the Company’s container terminal in Honduras; procurement of additional equipment and minor infrastructure works in its newly acquired terminal operations in Papua New Guinea; and the completion of its new barge terminal project in Cavite City, Philippines,” the port operator said.

Meralco rates set to increase in November By Alena Mae S. Flores POWER rates will increase this month by an average of P0.1135 per kilowatthour or equivalent to P23 in the monthly bill of households consuming 200 kWh, retailer Manila Electric Co. said Wednesday. The country’s biggest power distributor said after two straight months of reduction in September and October totaling P0.25 per kWh, overall electricity rates slightly rose to P10.0901 per kWh in November from last month’s P9.9766 per kWh. “The slight upward adjustment of P0.1135 per kWh, mainly due to higher WESM [Wholesale Electricity Spot Market] charges following an uptick in demand and an increase in Malampaya gas prices for the period, will mean an increase of around P23 in the total bill of a typical household consuming 200kWh,” Meralco said in a statement. WESM serves as the country’s trad-

ing ﬂoor for electricity. Meralco sourced 16.6 percent of its power requirements from WESM. Meralco said generation charges went up to P5.2725 per kWh in November, an increase of P0.0817 per kWh from P5.1908 per kWh in October. “The increase in the generation charge is mainly the result of a P1.3545per-kWh increase in charges from the WESM. WESM charges went up due to higher power demand in Luzon resulting from warmer temperature in October,” the power distributor said. Cost of power from independent power producers and power supply agreements decreased by P0.1450 per kWh and P0.5611 per kWh, respectively. “A stronger peso offset an increase due to higher Malampaya natural gas prices as a result of the quarterly repricing to reﬂect recent movement of crude oil prices in the world market,” Meralco said.

BAMBOO INITIATIVE. The Philippine Nickel Industry Association, in partnership with the Department of Trade and Industry and the Chamber of Mines of the Philippines, showcase their bamboo advocacy at the ‘Bamboo Extreme 2.0’ event of the 2018 Manila Fame design and lifestyle fair. PNIA believes that bamboo reforestation is the way to move forward to responsible and sustainable mining while helping local communities with economic opportunities. At the opening ceremony are (from left) PNIA executive-director Charmaine Olea-Capili, PNIA chairman Butch Alcantara, Trade Secretary Ramon Lopez, Olli Corp. chief executive Leo Dominguez, DTI regional director Judith Angeles, Trade Undersecretary Nora Terrado, Center for International Trade Expositions and Missions executive-director Pauline Juan and Design Center of the Philippines executive director Rhea Matute.

Business

THURSDAY, NOVEMBER 8, 2018 extrastory2000@gmail.com

Stock market slumps; ISM jumps T HE stock market plunged Wednesday after investors took proﬁts on recent gains and concerns monetary authorities may decide to raise interest rates again.

The Philippine Stock Exchange Index tumbled 146.18 points, or 2 percent, to 7,033.93 on a value turnover of P46.5 billion. Losers routed gainers, 165 to 38, with 41 issues unchanged. A block sale involving secondary shares of San Miguel Food and Beverage Inc. worth P39.1 billion was crossed Wednesday and boosted the market value turnover. PLDT Inc., the biggest telecommunications company, fell 5.6 percent to P1,321, while SM Investments Corp.of

retail tycoon Henry Sy Sr. dropped 4.4 percent to P880. Conglomerate Ayala Corp. declined 2.1 percent to P920. But ISM Communications Corp. of businessman Dennis Uy jumped 35 percent to P5.55 after his group and China Telecommunications Corp. emerged the lone bidder for the new major telecommunications player. Philippine Telegraph and Telephone Corp. and the consortium of politician Chavit Singson’s LCS Group and TierOne were disqualiﬁed because of incomplete documents. Uy is transforming ISM as his listed holding company to be called Udenna Holdings Corp. through a share swap deal. The rest of Asian markets ﬂuctuated Wednesday after US midterm elections left the two houses of Congress split between Democrats and Republicans, paving the way for gridlock on Capitol Hill. Hong Kong lost its earlier gains to sit

ing this outcome is positive for risk since the gridlock outcome ultimately will support the president’s mandate and a higher probability of more fiscal stimulus,” said Stephen Innes, head of Asia-Pacific trading at OANDA. “Realistically I can’t see how the Democrats would want to be perceived as killjoys and try to stifle any policy which is supporting the economy,” he added. However, with control of the House, Democrats will likely look to prevent Trump pushing through his most divisive measures―gumming up the legislative process―while also looking to boost oversight of the White House. On currency markets the dollar dipped against its major peers as well as higheryielding and emerging market units, as a win for Republicans in both houses of Congress would likely have led to more tax cuts and regulatory measures. With AFP

barely moved in late afternoon trade, while Shanghai ended 0.7 percent down and Tokyo shed 0.3 percent. Sydney added 0.4 percent, with Singapore 0.3 percent up. There were also gains in Taipei and Wellington but Seoul lost 0.5 percent while Bangkok and Jakarta were also down. Donald Trump’s Republican party maintained its control of the Senate but the Democrats regained power in the House of Representatives, in line with forecasts. But, while the vote saw Trump’s party lose overall power on Capitol Hill, analysts pointed out that the result is unlikely to lead to a reversal of the White House’s popular tax cuts and deregulation. Nor will it wind in the president’s aggressive efforts to reframe international trade, which has been a key to recent volatility in global markets. “Equities remain supported, suggest-

MANILA STANDARD BUSINESS DAILY STOCKS REVIEW WEDNESDAY, NOVEMBER 7, 2018

VOLUME

VALUE

NET FOREIGN BUYING/(SELLING), PHP

NAME

OPEN

HIGH

LOW

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

59.5 82.65 2.4 121 1.35 28.1 4.32 15.7 11.26 4 1.5 830 0.465 66.25 0.85 10.84 19.98 39.4 188 106.7 27.95 146 65.9 1.21

59.5 82.9 2.42 121 1.4 28.15 7.6 15.7 11.26 4 1.5 830 0.48 66.3 0.88 11.42 19.98 40 190 106.8 28.3 146.2 66 1.22

59.5 81.4 2.31 118.5 1.34 27.85 4.32 15.7 10.92 3.81 1.49 830 0.46 65 0.83 10.84 16.9 39.3 184.1 106.7 27.85 140.8 65.9 1.16

FINANCIALS 59.5 5,000 82.6 1,247,750 2.31 8,000 119 803,640 1.4 107,000 27.85 368,300 7.6 200 15.7 600 11 1,001,900 3.95 23,000 1.49 43,000 830 300 0.47 1,230,000 65 1,606,870 0.83 416,000 11.42 16,800 16.9 1,200 39.3 28,900 185 1,560 106.7 240 28 46,300 144.3 471,510 66 7,370 1.16 42,000

297,500 102,516,315.50 18,760 95,704,187 143,500 10,294,945 1,192 9,420 11,118,228 88,760 64,250 249,000 579,700 105,141,945.50 349,140 183,890 20,964 1,137,965 288,642 25,616 1,294,960 67,308,941 485,728 49,800

297,500 -22,970,708 -50,343,141 132,660 -14,485 -1,599,272 -4,600 -26,603,224 1,142 1,998 -669,545 138,763 -148,135 8,659,335 9,861 -

ABOITIZ POWER AGRINURTURE ALLIANCE SELECT ALSONS CONS BASIC ENERGY BOGO MEDELLIN CEMEX HLDG CENTURY FOOD CHEMPHIL CIRTEK HLDG CNTRL AZUCARERA CONCEPCION CONCRETE A CROWN ASIA DEL MONTE DNL INDUS EAGLE CEMENT EEI CORP EMPERADOR FIRST GEN FIRST PHIL HLDG GINEBRA GREENERGY HOLCIM INTEGRATED MICR IONICS JOLLIBEE LIBERTY FLOUR LMG CHEMICALS MABUHAY VINYL MACAY HLDG MANILA WATER MAXS GROUP MEGAWIDE MERALCO MG HLDG PEPSI COLA PETROENERGY PETRON PHIL H2O PHINMA PHINMA ENERGY PHX PETROLEUM PILIPINAS SHELL RFM CORP ROXAS AND CO ROXAS HLDG SFA SEMICON SHAKEYS PIZZA SMC FOODANDBEV SPC POWER SWIFT FOODS TKC METALS UNIV ROBINA VICTORIAS VITARICH VULCAN INDL

34.05 17.7 1.03 1.26 0.211 90.05 2.12 13.1 199 36.75 16.1 36 61.35 1.54 6.8 11.16 15 8.8 6.95 16.18 64.45 24 1.45 6.3 10.32 1.65 278.6 35 4.77 3.08 12.98 25.85 10.66 18.3 365.2 0.173 1.67 4.05 8.23 4.4 9 0.98 10.98 49.5 4.79 2.13 3.24 1.5 10.32 84 5.2 0.121 0.88 134.2 2.36 1.52 2.51

34.05 17.98 1.04 1.27 0.211 94 2.12 13.3 199 37.8 16.1 37.5 61.4 1.55 6.8 11.16 15 9 6.96 16.5 64.45 25 1.5 6.35 10.64 1.65 280 50 4.77 3.3 13 25.9 10.66 18.9 365.2 0.173 1.67 4.19 8.25 4.46 9 0.99 10.98 50.05 4.79 2.13 3.24 1.57 10.5 84.5 5.22 0.122 0.94 136 2.36 1.56 2.7

32.7 17.1 0.9 1.23 0.209 90 1.95 13.1 199 36.75 15 36 61.35 1.5 6.5 10.7 14.78 8.8 6.94 16.18 63.75 24 1.34 6.29 10.14 1.53 270.8 35 4.7 3.08 12.98 25.05 10.4 17.3 362 0.161 1.59 3.91 8.13 4.2 9 0.95 10.5 49.5 4.79 2 3.24 1.41 10.26 82 5.19 0.121 0.86 128.7 2.35 1.38 1.25

INDUSTRIAL 33.2 729,200 17.6 544,400 0.93 14,306,000 1.23 1,024,000 0.209 1,900,000 94 630 1.98 7,468,000 13.3 1,892,900 199 50 37 469,300 16 11,300 36 201,700 61.35 200 1.52 147,000 6.5 25,200 10.8 2,207,000 14.78 37,800 8.81 160,900 6.96 129,400 16.38 1,103,300 64.45 21,860 24.5 15,500 1.5 31,606,000 6.35 58,000 10.14 1,513,300 1.54 1,264,000 280 569,150 50 10,330 4.7 192,000 3.3 22,000 13 1,000 25.8 586,400 10.44 94,900 18 11,591,800 363 193,020 0.162 2,110,000 1.59 413,000 4.01 105,000 8.17 394,600 4.45 287,000 9 500 0.99 586,000 10.5 102,000 49.5 316,200 4.79 16,000 2.03 412,000 3.24 1,000 1.51 724,000 10.26 66,200 84.5 783,560 5.2 776,900 0.122 1,360,000 0.9 607,000 130.7 399,890 2.36 44,000 1.41 6,287,000 1.31 202,112,000

24,224,005 9,578,612 13,724,080 1,271,560 398,360 56,964.50 15,009,360 24,894,920 9,950 17,584,250 172,454 7,287,100 12,277.50 224,210 164,890 23,896,022 559,080 1,430,795 899,583 17,979,728 1,398,978 375,805 44,405,020 365,714 15,466,166 2,005,690 157,640,510 516,130.50 908,430 71,840 12,994 15,095,725 994,728 211,316,880 70,138,460 354,740 675,600 414,420 3,224,868 1,228,570 4,500 574,050 1,080,736 15,710,365 76,640 858,030 3,240 1,051,420 685,638 65,628,733.50 4,038,786 164,610 528,700 52,227,638 103,540 9,170,720 345,957,850

4,793,975 -353,468 -27,700 -357,650 13,660,850 -119,665 -500,725 774,870 823,405 -5,622 -7,687,578 55,816 -2,183,330 284,303 5,564,352 136,860 35,846,240 12,994 10,690,030 -13,776,252 42,715,206 42,800 -362,780 -246,587 8,800 187,900 -11,086,350 -343,072 -8,101,591.50 7,996,576 77,680 -929,760 -2,562,540

ABACORE CAPITAL ABOITIZ EQUITY ALLIANCE GLOBAL ANSCOR ASIABEST GROUP ATN HLDG A ATN HLDG B AYALA CORP COSCO CAPITAL DMCI HLDG FILINVEST DEV FJ PRINCE A FORUM PACIFIC GT CAPITAL HOUSE OF INV JG SUMMIT KEPPEL HLDG A LODESTAR LOPEZ HLDG LT GROUP MABUHAY HLDG METRO PAC INV PACIFICA PRIME MEDIA PRIME ORION REPUBLIC GLASS SAN MIGUEL CORP SM INVESTMENTS SOC RESOURCES SOLID GROUP WELLEX INDUS

0.475 47 11.64 6.2 24.8 1.38 1.41 940 7.08 13 7.3 5.59 0.192 758 5.8 48.8 3.46 0.53 4.25 15.1 0.52 4.9 0.037 1.16 2.3 2.56 167.9 920 0.76 1.36 0.233

0.48 47 11.88 6.21 24.8 1.4 1.41 940 7.08 13 7.3 5.59 0.21 758 5.8 48.8 3.47 0.53 4.35 15.4 0.53 4.9 0.038 1.16 2.32 2.56 167.9 920 0.76 1.42 0.233

0.41 45.6 11.34 6.2 22.05 1.18 1.17 915 6.95 12.6 7.28 5.59 0.192 706 5.75 47.5 3.46 0.49 4.21 14.24 0.51 4.77 0.035 1.13 2.23 2.56 162.9 867.5 0.76 1.35 0.22

25,436,200 27,606,740 69,345,488 932,980 1,168,195 45,537,390 9,664,360 172,196,095 19,772,129 60,518,410 850,630 2,795 70,840 51,921,650 104,014 72,140,785 30,824 175,025 280,760 278,174,534 1,723,570 84,522,510 812,000 339,690 2,417,480 15,360 17,997,353 265,516,940 21,280 526,720 1,058,330

1,419,700 9,999,410 -40,408,556 621,860 -27,615 1,427,790 5,053,895 3,210,144 25,967,990 -18,241,780 -104,014 18,189,470 -12,670 -4,171,044 267,140 -11,656,780 3,500 -53,730 9,663,559 -141,592,115 421,000.00 78,570

8990 HLDG A BROWN ANCHOR LAND ARANETA PROP ARTHALAND CORP AYALA LAND BELLE CORP CEB LANDMASTERS CEBU HLDG CENTURY PROP CITY AND LAND CITYLAND DEVT CROWN EQUITIES CYBER BAY DM WENCESLAO DOUBLEDRAGON EMPIRE EAST EVER GOTESCO FILINVEST LAND GLOBAL ESTATE IRC PROP MEGAWORLD MRC ALLIED

7.35 0.77 11.28 1.93 0.58 38.35 2.36 4.41 6.12 0.405 0.91 0.9 0.211 0.36 7.99 19.46 0.51 0.104 1.46 1.01 2.36 4.47 0.43

7.38 0.78 11.28 1.93 0.58 38.85 2.37 4.42 6.12 0.41 0.91 0.91 0.217 0.36 7.99 19.46 0.52 0.104 1.46 1.01 2.38 4.47 0.435

7.25 0.73 11.26 1.87 0.56 38 2.29 4.32 5.75 0.395 0.91 0.88 0.205 0.35 7.85 18.6 0.51 0.104 1.42 0.98 2.18 4.32 0.285

3,010,558 1,850,250 32,660 528,430 1,790,490 585,027,005 3,835,420 1,846,000 116,699 8,296,800 64,610 52,560 2,032,680 121,800 1,269,433 6,725,558 43,880 17,680 2,569,510 3,923,790 75,082,930 43,610,860 119,430,800

70,340 -70,815,500 -328,250 559,610 732,550 61,200 -351,350 -275,190 -14,140 961,810 -14,201,060 -1,503,550

NAME

HIGH

LOW

VOLUME

VALUE

PHIL ESTATES PHIL REALTY PRIMEX CORP ROBINSONS LAND ROCKWELL SHANG PROP SM PRIME HLDG STA LUCIA LAND STARMALLS SUNTRUST HOME VISTA LAND

0.435 0.405 3.63 21.25 1.93 3.18 33 1.16 4.75 0.68 5.24

0.435 0.41 3.74 21.3 1.94 3.18 33.3 1.16 4.75 0.68 5.24

0.42 0.33 3.57 20.5 1.9 3.12 32.55 1.1 4.01 0.68 5.1

0.42 0.36 3.74 21 1.9 3.12 32.7 1.13 4.13 0.68 5.2

1,180,000 2,210,000 1,533,000 2,311,100 247,000 22,000 9,947,800 162,000 1,907,000 32,000 17,156,500

503,500 835,950 5,561,890 48,442,925 474,040 68,880 326,604,325 184,750 8,136,890 21,760 88,634,787

20,000 42,140 -28,877,680 128,830 -3,180 -128,116,780 149,030 -12,592,151

2GO GROUP ABS CBN ACESITE HOTEL APC GROUP APOLLO GLOBAL BERJAYA BLOOMBERRY CEBU AIR CHELSEA DFNN INC DISCOVERY WORLD EASYCALL FAR EASTERN U GLOBE TELECOM GMA NETWORK GOLDEN BRIA HARBOR STAR IMPERIAL INTL CONTAINER IPEOPLE IPM HLDG ISLAND INFO ISM COMM JACKSTONES LEISURE AND RES LORENZO SHIPPNG MACROASIA MANILA JOCKEY MELCO RESORTS METRO RETAIL METROALLIANCE A METROALLIANCE B MLA BRDCASTING NOW CORP PACIFIC ONLINE PAL HLDG PAXYS PHIL RACING PHIL SEVEN CORP PHILWEB PLDT PREMIUM LEISURE PRMIERE HORIZON PUREGOLD ROBINSONS RTL SBS PHIL CORP SSI GROUP STI HLDG TRANSPACIFIC BR TRAVELLERS WATERFRONT WILCON DEPOT

11.3 21.9 1.31 0.435 0.039 1.68 8.2 69.15 7.3 7.26 2.15 8.42 901 2,100 5.35 305.2 2.9 1.82 91.5 11.24 7.6 0.102 4.24 3.04 3.35 0.78 17.08 5.35 7.11 2.19 1.24 1.3 15 3.11 10.6 8.38 3.4 8.31 104.1 3.7 1,400 0.74 0.335 41.7 77 6.84 2.72 0.66 0.51 5.16 0.55 11.3

11.3 21.9 1.31 0.435 0.04 1.68 8.2 69.25 8.99 7.31 2.19 8.42 901 2,110 5.36 320 3.25 1.82 92.9 11.24 7.6 0.102 5.9 3.22 3.35 0.78 17.08 5.35 7.13 2.19 1.24 1.5 15 3.17 10.9 8.39 3.43 8.31 106 3.7 1,400 0.75 0.345 42.2 77.8 6.84 2.72 0.67 0.51 5.18 0.55 11.5

9.7 21.4 1.25 0.355 0.038 1.39 8.07 68 7.23 7.23 2.15 4.5 901 1,920 5.22 304 2.85 1.82 91.5 11.2 7.55 0.094 3.71 2.85 3.05 0.72 16.5 5.15 7.11 2.1 1.05 1.25 15 1.85 10.58 7.61 3.4 8.11 104 3.21 1,290 0.71 0.31 41.5 75 6.84 2.62 0.62 0.38 5.15 0.49 11.24

SERVICES 11 21.4 1.25 0.385 0.04 1.48 8.11 68.95 8.5 7.23 2.19 4.88 901 1,920 5.23 320 3.25 1.82 92 11.22 7.55 0.095 5.55 3.18 3.11 0.75 16.56 5.34 7.13 2.13 1.19 1.5 15 2.25 10.6 7.61 3.43 8.11 106 3.23 1,321 0.71 0.325 42.2 75 6.84 2.72 0.63 0.39 5.18 0.51 11.5

208,800 25,600 73,000 17,800,000 16,100,000 5,644,000 7,454,200 53,100 62,192,700 76,100 58,000 750,800 480 80,470 75,400 11,900 11,533,000 57,000 885,600 25,500 5,500 7,540,000 245,807,000 124,000 1,929,000 781,000 624,700 119,800 1,672,900 1,252,000 229,000 22,000 2,300 31,594,000 6,200 9,100 11,000 5,800 2,120 1,484,000 160,010 3,538,000 4,750,000 1,093,800 481,960 7,600 8,648,000 17,139,000 124,934,000 1,955,200 6,292,000 3,226,600

2,082,548 550,100 92,210 7,112,300 625,800 8,632,000 60,408,929 7 3,640,039 512,804,908 552,111 126,700 4,312,402 432,480 157,497,415 398,870 3,722,660 35,782,150 103,740 81,576,847.50 286,114 41,625 750,400 1,226,886,330 363,290 6,262,470 579,000 10,473,376 630,334 11,912,262 2,691,400 253,910 28,630 34,500 79,197,200 66,626 72,454 37,570 48,018 221,296 5,019,120 211,782,540 2,566,210 1,549,950 45,785,200 36,497,216 51,984 23,064,560 10,973,350 52,867,745 10,088,046 3,222,960 36,549,108

147,690 95,200 -652,010 ,816,379.0004 126,148 31,169,274 265,716 1,218 -92,179,760 14,920 504,183 -102,190 29,532,440 29,000 107,510 -3,118,040 -4,747,936 2,180 -22,900 908,020 24,307 91,824 -396,270 -20,663,225 43,790 9,900 1,440,570 -12,001,523 10,875,810 -7,750,880 -795,400 -5,534,513 26,500 -2,451,990

1,142,500 22,894,780 347,080 601,988 151,350 3,860,830 74,950 6,231 3,412,660 195,470 465,880 45,540 132,100 102,000 76,920 3,161,060 130,200 612,780 3,628,970 60,000 9,600 50,400 1,165,530 7,488,580 158,024,744 45,119,620 48,500

424,500 2,640 -150,060 43,240 -101,390 4,900 109,010 -13,430 -8,100 -1,999,050 5,164,532 -12,356,285 -

HOLDING FIRMS 0.42 58,230,000 46.4 594,900 11.42 6,070,600 6.21 150,400 22.5 50,400 1.26 36,254,000 1.2 7,800,000 920 187,450 7.01 2,824,200 12.9 4,688,400 7.3 116,600 5.59 500 0.194 350,000 706 72,330 5.75 18,000 48.1 1,500,400 3.46 8,900 0.52 351,000 4.28 66,000 14.8 18,432,900 0.51 3,324,000 4.86 17,571,000 0.035 22,500,000 1.13 297,000 2.25 1,069,000 2.56 6,000 163.6 109,750 880 300,860 0.76 28,000 1.42 378,000 0.221 4,720,000 PROPERTY 7.38 0.73 11.26 1.87 0.57 38 2.29 4.32 6 0.4 0.91 0.88 0.211 0.35 7.91 18.66 0.52 0.104 1.44 0.99 2.27 4.4 0.355

411,300 2,481,000 2,900 279,000 3,138,000 15,290,300 1,645,000 423,000 20,100 20,670,000 71,000 59,000 9,720,000 340,000 160,400 356,200 86,000 170,000 1,798,000 3,948,000 33,272,000 9,955,000 340,880,000

NET FOREIGN BUYING/(SELLING), PHP

OPEN

ABRA MINING APEX MINING ATLAS MINING ATOK BENGUET B CENTURY PEAK COAL ASIA HLDG DIZON MINES FERRONICKEL GEOGRACE LEPANTO A LEPANTO B MANILA MINING A MANILA MINING B MARCVENTURES NICKEL ASIA NIHAO OMICO CORP ORNTL PENINSULA ORNTL PETROL A ORNTL PETROL B PHILODRILL PHINMA PETRO PX MINING PXP ENERGY SEMIRARA MINING UNITED PARAGON

0.0023 1.83 2.7 14.8 1.22 1.92 0.3 7.11 1.76 0.205 0.106 0.109 0.0067 0.0068 1.15 2.6 1.02 0.57 0.9 0.012 0.012 0.012 4.02 3.37 18.9 29 0.0061

0.0023 1.84 2.7 14.8 1.29 1.94 0.3 7.11 1.78 0.205 0.106 0.109 0.0067 0.0068 1.23 2.68 1.05 0.57 0.9 0.012 0.012 0.012 4.16 3.48 19.7 29.15 0.0061

0.0022 1.73 2.62 13 1.22 1.87 0.295 6.9 1.7 0.195 0.1 0.098 0.0066 0.0068 1.14 2.56 0.98 0.53 0.83 0.012 0.012 0.012 3.95 3.3 18.1 28.7 0.006

MINING & OIL 0.0022 519,000,000 1.75 12,884,000 2.62 131,000 14.68 43,100 1.29 124,000 1.94 2,035,000 0.3 250,000 6.9 900 1.76 1,954,000 0.198 980,000 0.1 4,580,000 0.107 450,000 0.0066 20,000,000 0.0068 15,000,000 1.15 66,000 2.64 1,202,000 1.02 130,000 0.54 1,116,000 0.84 4,244,000 0.012 5,000,000 0.012 800,000 0.012 4,200,000 4.05 292,000 3.39 2,235,000 19.2 8,350,100 28.9 1,559,000 0.006 8,000,000

AC PREF B1 AC PREF B2 DD PREF FGEN PREF G HOUSE PREF A LR PREF MWIDE PREF SMC FB PREF 2 SMC PREF 2B SMC PREF 2C SMC PREF 2D SMC PREF 2E SMC PREF 2F SMC PREF 2G SMC PREF 2I

462 492 96.1 102 98.8 1.02 101 980 75.1 76.6 72.65 74.8 75 75 74.55

462 492 96.1 102 98.8 1.02 101 999 75.1 76.6 74.35 74.8 75 75 74.85

462 490 96 102 97 1.02 101 979 75.1 76.1 72.5 74.8 75 75 74.55

PREFERRED 462 100 492 180 96 190 102 22,950 97 1,500 1.02 29,000 101 1,000 999 3,220 75.1 40 76.6 49,160 74.35 7,200 74.8 120 75 400 75 3,110 74.85 7,130

46,200 88,260 18,244 2,340,900 146,400 29,580 101,000 3,161,440 3,004 3,762,651 532,055 8,976 30,000 233,250 531,580.50

-763,000 74,550

LR WARRANT

2.22

1.9

WARRANTS 2.08 1,482,000

3,005,400

8,800,140 13,584,370

224,330 -1,091,560

1,563,365

23,444

ITALPINAS XURPAS

4.32 1.49

4.32 1.5

3.5 1.36

FIRST METRO ETF

108.1

105.6

TRADING SUMMARY FINANCIAL

SHARES 7,979,287

INDUSTRIAL

759,467,222

HOLDING FIRMS

188,185,568

PROPERTY

484,381,955

SERVICES

596,936,323

MINING & OIL

614,735,686

GRAND TOTAL

2,663,570,438

3.77 1.37

SME

2,222,000 9,633,000

EXCHANGE TRADED FUNDS 105.6 14,690

VALUE 1,589.84 (down) 19.84 430,486,100.00 FINANCIAL INDUSTRIAL 10,652.50 (down) 104.04 40,427,488,318.32 HOLDING FIRMS 6,926.43 (down) 213.37 1,216,263,503.78 PROPERTY 3,392.77 (down) 23.88 1,431.37 (down) 43.37 1,378,046,693.57 SERVICES MINING & OIL 9,837.51 (up) 7.27 2,769,810,932.51 PSEI 7,033.93 (down) 146.18 253,035,412.61 All Shares Index 4,298.92 (down) 73.16 46,499,128,550.14 Gainers: 38; Losers: 165; Unchanged: 41; Total: 244

Aboitiz Equity increased net profit to P17.3b in nine months By Alena Mae S. Flores ABOITIZ Equity Ventures Inc. posted a net income of P17.3 billion in the first nine months of 2018, up nine percent from P15.9 billion year-on-year. Core net income stood at P17.7 billion, up four percent from P17.1 billion a year ago. AEV attributed the higher income to the contribution of the company’s power, food and land strategic business units. “We welcome the gains posted by our strategic business units for the first nine months of the year. This reflects the strength of a focused growth strategy that endeavors to do well by doing good in advancing business and communities,” AEV president and chief executive officer Erramon Aboitiz said in a statement Wedensday. Power accounted for 72 percent of the total income, followed by banking and financial Services, food, land, and infrastructure at 17 percent, eight percent, two percent and one percent, respectively. “We remain on the lookout for opportunities that not only help accelerate the country’s economic growth but more importantly, become catalysts of positive change through our products and services,” Aboitiz said. Aboitiz Power Corp. recorded a net income of P16.7 billion in the first nine months, up six percent from P15.7 billion on year. Aboitiz Power’s core net income in the first nine months reached P18.4 billion, up five percent on year. “Our strong financial performance in the first nine months of 2018 was driven by the continuously increasing demand for reliable, affordable, and sustainable power supply. We were able to take advantage of this demand by growing our capacity and our balanced mix portfolio of renewable and thermal assets,” Aboitiz Power chief operating officer Emmanuel Rubio said. “We hope to sustain this steady growth momentum as we march to our 4,000-MW net attributable target in 2020, allowing us to continue advancing business and communities by providing power supply that is reliable, reasonably priced, and responsibly produced,” he said.

Emperador says income rose 18% due to expansion By Jenniffer B. Austria EMPERADOR Inc., the liquor unit of tycoon Andrew Tan, reported a net income of P5.2 billion in the first nine months of the year, up 18 percent yearon-year, boosted by international expansion. Emperador said in a disclosure to the stock exchange revenues from January to September this year rose 11 percent to P30.5 billion. Emperador said higher margins contributed to a faster earnings growth than revenue expansion. “Our performance is brought about by the sustained growth in international expansion. The premium Scotch whisky business continues to show robust growth led by The Dalmore single malt whisky and innovations,” Emperador president Winston Co said. He said the company’s brandy business also continued to perform well with greater penetration into North and Latin America. “We are organically global. Our products are available in more than 100 countries and more than 350 cities in the world. Emperador brandy is now sold in the USA like New York, Chicago, LA, San Francisco, Hawaii and Las Vegas,” Co said. He saidvthe company by early next year would start the export of Emperador Hotshot, a cinnamon brandy, to the US market to capitalize on the growing popularity of cinnamon whiskey. Emperador Spain managing director Jorge Domecq said the company had fortified its brandy portfolio to sustain its No.1 position in Spain, Mexico, Colombia and the Philippines. “We have introduced a super-premium Brandy de Jerez in Fundador Supremo through travel retail channel in Europe and Asia like Hong Kong, Beijing, Shanghai, Korea, etc. The Fundador Supremo is now available in the Philippines with the 18 year-old Oloroso Sherry Cask retailing at P12,800 a bottle,” Domecq said. Co said the company in the domestic front was focused on reinventing the local liquor space to boost profitability.

Manila

Standard

TODAY

extrastory2000@gmail.com

CYAN MAGENTA YELLOW BLACK

Business/World

IN BRIEF

Lawsuits to impede 3rd telecom player THE latest PacMan in the business c o m m u n i t y emerged as the lone bidder in the government’s search for a third major telecommunications player. But lawsuits are expected to greet the National Telecommunications Commission and the Department of Information and Communications Technology even before the two agencies can proceed with the selection of the third telco player. The NTC and DICT have not awarded the third telco slot as of press time pending a further review of the documents submitted by the lone bidder. The group of Davao-based businessman Dennis Uy and China Telecommunications Corp. turned out to be the only bidder after two potential contenders were disqualified. The two other bidders—Philippine Telegraph and Telephone Corp. and the consortium of politician Chavit Singson’s LCS Group and TierOne—have been disqualified because of incomplete documents. The three were among the seven that last expressed interest to become the country’s third major telco player. The other four were Norway’s Telenor Group, NOW Corp. of businessman Mel Velarde and two others who requested not to be named. NTC Selection Committee chair Ella Lopez said the Udenna Group of Uy through the Mislatel Consortium passed the preliminary evaluation and was qualified to proceed with the selection for the new major player. Mislatel is a joint venture of Uy’s Udenna Corp., its subsidiary Chelsea Logistics Holdings Corp., China-owned China Telecommunications Corp. and Mindanao Islamic Telephone Co. Inc. (Mislatel), which holds a Congressional franchise to operate telecom services. PT&T, according to the committee, failed to submit a certification of technical capability from NTC, while LSC-TierOne Group was disqualified for not submitting the “participation security” of P700 million. The two disqualified bidders, however, said they would appeal the decision with the NTC in the next three days. PT&T president James Velasquez said the bidding process was unfair. “If we have given a certificate, we would have complied 100 percent. We have complied all the requirements, including the P700million participation security and the P10 billion paid capital,” he says. “If you look at the MC [memorandum circular] we complied because there it was clear that national [scale] is equivalent to regional. If they change that in the bid bulletin, I think that’s irregular and that’s what we found,” Velasquez added. Simon Fjell, co-founder of TierOne, is also set to appeal the disqualification. Sear Telecom, a consortium led by LSC Group and TierOne, said it would file a case against Mislatel for breach of contract. Mislatel, according to Raoul Creencia, managing partner of Sear, is not allowed to have its franchise used by somebody else “without prior official consent of DigiPhil Technology Inc.” “DigiPhil in other words, has the right of first refusal. The prohibition actually is not absolute, for as long as they get consent of DigiPhil,” he adds. DigiPhil is a unit of TierOne Communications International. “If Mislatel will be adjudged to have breached the contract, it is therefore not eligible to partner with, so there is no congressional franchise and new major player. That’s a fatal flaw,” Creencia said. Mislatel holds a Congressional franchise to operate telecom services, which was used Uy’s Udenna and China Telecom. Another potential bidder, Converge ICT and partner KT Corporation, did not submit bid documents because they found the “venture commercially unviable.” Smart move Smart Communications Inc. is leading in the mobile video performance and surprisingly has become competitive worldwide. Independent mobile analytics company OpenSignal released its first per-operator study for Asian telecom carriers, breaking down and detailing mobile video performance per carrier in Singapore, Australia, Taiwan, Myanmar, Thailand, Malaysia, Indonesia, Cambodia and the Philippines. OpenSignal, building on its previous State of Mobile Video report, said Smart garnered a video experience score of 42.2, ahead competitor Globe Telecom Inc.’s 29.2, and well above the Philippines’ overall score of 34.98. In the same report, Open Signal said Smart’s performance was comparable with video experience on US carriers. OpenSignal reports showed Smart’s score to be at par with that of international carriers, such as AT&T’s 40.88 and Sprint’s 41.1, concluding that Smart has been providing its customers the better video experience in the country. OpenSignal’s per-operator study included special reports on video experience in Europe and US. OpenSignal said as global demand for mobile video continued to rise, the demand for better video experience was also increasing. In its first State of Mobile Video report, OpenSignal found that the best mobile video experience could be found in Europe, with Czech Republic topping the list of 69 covered countries with a score of 68.52. The Philippines scored 34.98 in the study released in September. OpenSignal says the video experience metric measures exactly what consumers are experiencing when they watch videos. Built on an International Telecommunication Unionbased approach for measuring video quality, it is derived from several underlying parameters based on real-world measurements of video streams from the world’s largest video content providers. The study, which collected responses from 10 countries in August, showed that viewers in the Philippines watch the most online video each week at eight hours and 46 minutes— even more than in India and the US, where people watched close to eight and a half hours of online video. E-mail: rayenano@yahoo.com or business@manilastandard.net or extrastory2000@gmail.com

THURSDAY, NOVEMBER 8, 2018 CESAR BARRIOQUINTO, Editor mst.daydesk@gmail.com

Michael Douglas gets his star

ANNIVERSARY. Kyrgyz Communist supporters gather in front of a monument to the Soviet Union’s founder Vladimir Lenin in Bishkek on November 7 to mark the 101st anniversary of The Bolshevik Revolution. AFP

Fresh Russia sanctions eyed over nerve attack

ASHINGTON―The United States said Tuesday it was preparing fresh sanctions against Moscow over the attempted assassination in Britain of a former spy, after a previous round sowed chaos on Russian markets. Three months after the United States declared that Russia violated a US law that seeks the elimination of chemical and biological weapons, the State Department told Congress in a legally-mandated follow-up that Moscow had not come into compliance. “We intend to proceed in accordance with the terms of the [Chemical and Biological Weapons] Act, which directs the implementation of additional sanctions,” State Department spokeswoman Heather Nauert said in a statement. She said the State Department was in discussions with Congress, which has led the push to punish Russia, to determine the exact measures. British investigators said Russian operatives on March 4 tried to kill Sergei Skripal, a former intelligence ofﬁcer and double agent, and his daughter Yulia Skripal in the English city of Salisbury. The attack involved Novichok, a military-grade nerve agent developed by the Soviet Union during the Cold War. The two Russians survived but a third person died after exposure. Under the US law, the State Department must slap further sanctions three months after its initial determination unless a

country proves it has reversed course on chemical and biological weapons, for example by inviting in international inspectors. Russia has denied involvement in the Salisbury attacks and has promised reciprocal measures to all US sanctions. Prime Minister Dmitry Medvedev warned in August that any imposition of further sanctions would constitute a “declaration of economic war.” Lawmakers across the political spectrum have urged a strong response to Russia, despite President Donald Trump’s avowed afﬁnity for his counterpart Vladimir Putin. Representative Ed Royce, a Republican and outgoing chairman of the House Foreign Affairs Committee, said the Trump administration needs to act quickly on new sanctions, adding: “Hesitation only encourages more Russian aggression.” “No one should be surprised that Vladimir Putin refuses to swear off future use of weaponsgrade nerve agents,” Royce said in a statement. “It is unacceptable that the administration lacks a plan -- or even a timeline -- for action on the second round of mandatory sanctions required by US law,” he added.

The ﬁrst round of sanctions banned exports to Russia of arms and other products with national security applications and froze any US government credit guarantees to Russia. The sanctions announcement in August sent Russian stocks plunging and the ruble fell to its lowest level against the dollar in nearly two years. The drop came even though the direct effects of the initial sanctions were limited, as Russia―the major rival to the United States as an arms exporter―does not buy US weapons. The State Department also made a number of exemptions in the sanctions, such as continuing military trade to allow space cooperation with Russia including commercial launches. AFP

LOS ANGELES―Oscar-winning actor Michael Douglas got a star on the Hollywood Walk of Fame on Tuesday in honor of his 50 years in show business. The megastar was joined at the ceremony by his 101-year-old father and Hollywood legend Kirk Douglas as well as Jane Fonda, who starred with him in the 1979 drama “The China Syndrome,” about an accident in a nuclear power plant. Also attending was Douglas’s wife, the actress Catherine ZetaJones, and other family members. “This is a great honor and I’m not getting any younger, I want to enjoy it with [my family],” the 74-year-old actor said as the star was unveiled. Douglas got emotional and teary-eyed as he addressed his father, telling him that his presence at the event meant a lot. “I’ll say it simply and with all my heart, ‘I’m so proud to be your son,’” he said, choking up. Speaking at the ceremony, Fonda wondered why it took so long for the younger Douglas to ﬁnally get his star. AFP

Apology for martial law rapes SEOUL―South Korea’s defense ministry on Wednesday broke decades of silence to apologize for martial law troops raping women including teenagers when they crushed a pro-democracy uprising in 1980. Defense minister Jeong Kyeong-doo issued a public apology for the inflicting of “unspeakable, deep scars and pain” on “innocent women” who were raped and subjected to “sex torture” by soldiers cracking down on the protests against a military coup by general Chun Doo-hwan. Demonstrators in the southern city of Gwangju and passers-by were beaten to death, tortured, bayoneted and disemboweled or riddled with bullets. Conservatives in the South continue to condemn the uprising as a Communist-inspired rebellion. According to official figures, more than 200 people were left dead or missing, while activists say the toll may have been three times as much. AFP

Republic of the Philippines COMMISSION ON AUDIT Commonwealth Avenue, Quezon City, Philippines

RESOLUTION

Subject:

No. : 2018-031 Date : OCT. 02, 2018

Suspending the Creation of Fraud/Special Audit Teams and the Conduct of Fraud/Special Audits from October 11, 2018 to May 13, 2019

WHEREAS, Section 2(2) of Article IX-D of the 1987 Constitution vests upon the Commission on Audit the “exclusive authority, subject to the limitations in this Article, to define the scope of its audit and examination, establish the techniques and methods required therefor, and promulgate accounting and auditing rules and regulations, xxx”; WHEREAS, Section 6(1) of Presidential Decree No. 1445 states that the Commission Proper has the authority “to determine policies, promulgate rules and regulations, and prescribe standards governing the performance by the Commission of its powers and functions”; WHEREAS, Section 2(4), Article IX-B of the 1987 Constitution prohibits all officers and employees in the civil service from engaging, directly or indirectly, in any electioneering or partisan political campaign; WHEREAS, national and local elections will be held on May 13, 2019; WHEREAS, on October 1, 2018, the Commission on Elections (COMELEC) promulgated Resolution No. 10430, amending pertinent provisions of Resolution No. 10420, prescribing that the period for the filing of the Certificate of Nomination and Certificate of Acceptance of Nomination of party-list groups, and of the Certificate of Candidacy (COC) by the local and national candidates for the 2019 national and local elections shall be on October 11 to 12 and 15 to 17, 2018; WHEREAS, the Commission receives voluminous complaints and/requests for special/fraud audit against candidates in the national and local elections, including nominees of party-list groups; WHEREAS, it is necessary for the Commission on Audit, as an independent constitutional body, to uphold its political neutrality by implementing measures aimed at preventing opportunities and circumstances that may impair the independence, neutrality and professionalism of the Commission, its officers and employees; NOW, THEREFORE, the Commission Proper RESOLVES, as it does hereby RESOLVE, to desist from the creation of teams for and the conduct of fraud/special audit based on complaints and/or requests against all candidates in the 2019 national and local elections, from the day they filed their COCs until May 13, 2019, including those nominees whose names were submitted to COMELEC by their party-list group; Provided, however, that the conduct of initial assessment or evaluation of requests for fraud/special audits and such other preliminary procedures prior to the creation of fraud/special audit teams shall not be suspended; Provided, further, that those fraud/ special audits directed against a particular person/s, who later on filed their respective COC, and were already started prior to such filing shall not be suspended. This Resolution shall in no way curtail or impair the regular functions of the offices, auditing units and audit teams of the Commission, not otherwise affected by it, which they shall continue to perform in accordance with duly approved work programs. RESOLVED, FURTHER, to direct the Commission Secretary to immediately disseminate this Resolution to all concerned officials and employees of the Commission. This Resolution shall be published in a newspaper of general circulation in the Philippines. Approved unanimously this 02 day of October 2018 at Quezon City.

N OTICE Notice is hereby given that EMPRESA HOMES, INC. (formerly: SOCIALIZED HOMES PROPERTIES & DEVELOPMENT, INC.), with office address at LGF Bldg. B, Evia Lifestyle Center, Daang Hari, Almanza Dos, Las Piñas, is applying for registration with the Board of Investments (BOI) as a New Developer of Economic and Low-cost Housing Project (Empresa Homes Mariveles) with a capacity of 272 house and lot units on a Non-Pioneer status with project site Brgy. Lucanin, Mariveles, Bataan. Any person with valid objections on the abovementioned project may file his/her objection in writing, under oath, with the B01 within three (3) days from the date of this publication. (SDG) MARY ANN E. RAGANIT Officer-in-Charge Infrastructure and Services Industries Service (MS-NOV. 8, 2018)

MICHAEL G. AGUINALDO Chairperson JOSE A. FABIA Commissioner

ROLAND C. PONDOC Commissioner Attested

NILDA B. PARAS Commissioner 1.In the matter of amending Resolution No. 10420 entitled “Rules and Regulations Governing: 1) Political Conventions; 2) Submission of Nominees of Groups or Organizations Participating under the Party-List System of Representations; and 3) Filing of Certificates of Candidacy and Nomination of and Acceptance by Official Candidates of Registered Political Parties or Coalitions of Political Parties in Connection with the May 13, 2019 National and Local Elections” Promulgated on September 7, 2018. Section 7, COMELEC Resolution No. 10420 dated September 7, 2018, as amended by Resolution No. 10430 dated October 1, 2018. Section 18, supra. (MS-NOV. 8, 2018)

CYAN MAGENTA YELLOW BLACK

CYAN MAGENTA YELLOW BLACK Manila

Standard b4 THURSDAY, NOVEMBER 8, 2018 TODAY

or other evidences of indebtedness, or by financial leasing of movable as well as immovable property. The same does not include banks, investment houses, savings and loan associations, insurance companies, cooperatives, and other financial institutions organized or operating under other special laws. SEC Memorandum Circular No. 16 Series of 2018

SUBJECT

ALL SEC COVERED INSTITUTIONS

2018 GUIDELINES ON ANTI-MONEY LAUNDERING AND COMBATING THE FINANCING OF TERRORISM FOR SEC COVERED INSTITUTIONS (“2018 AML/ CFT GUIDELINES”) ************************************************************************************************ The Securities and Exchange Commission (“SEC”, “Commission”), in conformity with the provisions of Republic Act No. 9160 (Anti-Money Laundering Act of 2001), as amended, its Revised Implementing Rules and Regulations (RIRR), Republic Act No. 10168 (Terrorism Financing Prevention and Suppression Act of 2012), its Implementing Rules and Regulations, and taking into consideration international best practices in the implementation and enforcement of the Anti-Money Laundering (AML) and the Combating the Financing of Terrorism (CFT) regimes, hereby issues this “2018 Guidelines on Anti-Money Laundering and Combating the Financing of Terrorism for SEC Covered Institutions” (“2018 AML/CFT Guidelines”).

7 Pasay City, Philippines, _________ November 2018.

32. Violations of Sections 5, 7, 8, 9, 10 (c), (d) and (e), 11, 12 and 14 of Republic Act No. 7610, otherwise known as the “Special Protection of Children Against Abuse, Exploitation and Discrimination”; 33. Fraudulent practices and other violations under Republic Act No. 8799, otherwise known as the “Securities Regulation Code of 2000”;

(1) at least twenty percent (20%) but not more than fifty percent (50%) of the voting stock of which is owned directly or indirectly by a covered institution; or

34. Felonies or offenses of a nature similar to the aforementioned unlawful activities that are punishable under the penal laws of other countries.

(2) over which a covered institution has the ability in fact to exert a significant influence. Significant influence refers to the ability to participate in the managerial, operating or financial decisions of an entity with the reasonable possibility, but not certainty, of determining the content of those decisions. This may be shown, for example, by: (1) a contract between the entities, or a provision contained in the lower tier entity’s articles of incorporation or other constitutional documents; (2) the ability, in any manner, of the upper tier entity to appoint a member of the board of directors or any equivalent body of the lower tier entity; (3) any situation in which one or more members of the board of directors of the lower tier entity, or any equivalent body of that entity, are accustomed or under an obligation, whether formal or informal, to act in accordance with the instructions or wishes of the upper tier entity in conducting its affairs; or (4) the existence of material and regular transactions between the entities. 2.1.15 A “subsidiary” means an entity that is controlled, directly or indirectly, by a covered institution, which may be evidenced by: (1) more than 50% of the outstanding voting stock of which being owned directly or indirectly by such covered institution; (2)such covered institution having the ability in fact to elect a majority of the members of the board of directors or any equivalent body; or (3) such covered institution having the ability in fact to exert a dominant influence over the financial, operational or managerial affairs of the entity. This may be shown, for example, by:

SECTION 3. The attached 2018 AML/CFT Guidelines shall serve as guide to covered institutions in revising and reformulating their own MLPP, taking into consideration their respective corporate structure. Accordingly, all covered institutions are directed to revise their MLPP and to provide therein specific procedures and policies that would achieve the ends prescribed in the 2018 AML/CFT Guidelines.

SECTION 5. This Memorandum Circular shall take effect fifteen (15) days after its publication in two (2) national newspapers of general circulation and its posting in the Commission’s website.

31. Violation of Section 4 of Republic Act No. 9775, otherwise known as the “Anti-Child Pornography Act of 2009”;

2.1.14 An “affiliate” means an entity:

Covered institutions which have not submitted their respective programs shall prepare the same in accordance with the 2018 AML/CFT Guidelines and submit said MLPP within the period specified above.

SECTION 4. A covered institution which fails to submit a revised MLPP within the prescribed period shall be subject to a penalty of Five Hundred Pesos (P500.00) per day of delay until the revised MLPP has been submitted to the Commission.

30. Violation of Section 4 of Republic Act No. 9995, otherwise known as the “Anti-Photo and Video Voyeurism Act of 2009”;

2.1.13 “Lending Company” shall refer to a corporation engaged in granting loans from its own capital funds or from funds sourced from not more than nineteen (19) persons. It shall not be deemed to include banking institutions, investment houses, savings and loan associations, financing companies, pawnshops, insurance companies, cooperatives and other credit institutions already regulated by law. The term shall be synonymous with lending investors.

SECTION 1. All covered institutions as defined in this 2018 AML/CFT Guidelines are required to amend their respective Money Laundering and Terrorist Financing Prevention Program (MLPP) to conform to the attached 2018 AML/CFT Guidelines. SECTION 2. All covered institutions shall, within six (6) months from the effectivity of these Guidelines, submit their revised MLPP to the Commission through the Operating Departments having supervision over such covered institutions copy furnished the Anti-Money Laundering Division (AMLD) of the Enforcement and Investor Protection Department (EIPD). The revised or updated MLPP shall be approved by the board of directors, or the country/ regional head or its equivalent for local branches of foreign covered institutions and shall embody the principles and policies enunciated in these Guidelines.

29. Violation of Republic Act No. 8293, otherwise known as the “Intellectual Property Code of the Philippines, as amended”;

(a) a contract between the entities, or a provision contained in the entity’s articles of association or other constitutional documents; (b) a majority of the members of the board of directors of the entity, or any equivalent body of the entity, being accustomed or under an obligation, whether formal or informal, to act in accordance with the covered institution’s directions, instructions or wishes in conducting its affairs.

In determining whether or not a felony or offense punishable under the penal laws of other countries is “of similar nature”, as to constitute an unlawful activity under the AMLA, the nomenclature of said felony or offense need not be identical to any of the unlawful activities listed above. 2.1.18 “Politically Exposed Person, or PEP” refers to an individual who is or has been entrusted with a prominent public position/function in: 1. the Philippines with substantial authority over policy, operations or the use or allocation of government-owned resources; 2. a foreign state; or 3. an international organization. It shall be presumed that a person who has been entrusted with a prominent public position/function as referenced above shall continue to be considered a PEP, even if he or she no longer holds such a position, unless it is clearly shown otherwise. The term PEP shall include immediate family members, and close relationships and associates that are reputedly known to have: 1. joint beneficial ownership of a legal entity or legal arrangement with the main/ principal PEP; or 2. sole beneficial ownership of a legal entity or legal arrangement that is known to exist for the benefit of the main/ principal PEP. Immediate family members of PEPs refer to spouse or partner, children and their spouses, parents and parents-in-law, and siblings. Close associates of PEPs refer to persons who maintain a particularly close relationship with the PEP, and include persons who are in a position to conduct substantial domestic and international financial transactions on behalf of the PEP. Close associates may include: (1)

Any legal entity that beneficially owns, either directly or through one or more controlled companies, more than thirty (30) per centum of the voting securities of another company shall be presumed to control such company. Any such presumption may be rebutted by evidence, but shall continue until a determination to the contrary is made by the Commission.

(2)

2.1.16 “Beneficial Owner” refers to any natural person who:

(5)

(3) (4)

beneficial owners of a legal entity or legal arrangement that is known to exist for the benefit of the main/ principal PEP; business partners or associates, especially those that share beneficial ownership of legal entities or legal arrangements with the PEP; persons who are otherwise connected to the PEP (e.g., through joint membership of a company board); prominent members of the same political party, civil organization, labor or employee union as the PEP; persons (sexual and/or romantic) partners outside the family unit (e.g. girlfriends, boyfriends, mistresses, etc.).

(1) Ultimately owns or controls the customer and/or on whose behalf a transaction or activity is being conducted; or (2) Has ultimate effective control over customer that is a legal person or arrangement.

CHAPTER 3 DESCRIPTION OF MONEY-LAUNDERING

FOR THE COMMISSION:

Legal Arrangements shall refer to express trusts or other similar legal arrangements. Examples of other similar arrangements (for AML/CFT purposes) include fiducie, treuhand and fideicomiso.

Section 3.1. Definition of Money-Laundering. – Money laundering is the processing of the proceeds of a crime to disguise their origin. It is a process intended to mask the benefits derived from serious offenses or criminal conduct as described under the AMLA, so that they appear to have originated from a legitimate source.

EMILIO B. AQUINO Chairperson

Ultimate effective control refers to any situation in which ownership/control is exercised through actual or a chain of ownership or by means other than direct control. This may be achieved through, but not limited to, any of the following situations:

a) 2018 GUIDELINES ON ANTI-MONEY LAUNDERING AND COMBATING THE FINANCING OF TERRORISM FOR SEC COVERED INSTITUTIONS The Securities and Exchange Commission (“SEC”, “Commission”) hereby issues this “Guidelines on Anti-Money Laundering and Combating the Financing of Terrorism for SEC Covered Institutions” pursuant to the authority granted to it under the Anti-Money Laundering Act of 2001 (AMLA) (Republic Act (RA) No. 9160), as amended and its regulatory and supervisory powers under the Securities Regulation Code (“SRC”) (RA 8799), the Corporation Code of the Philippines (Batas Pambansa (BP) Blg. 68), Presidential Decree 902-A, as amended, the Investment Houses Law (Presidential Decree (PD) No. 129), the Investment Company Act (RA 2629), the Financing Company Act of 1998 (RA 8556), the Lending Company Regulation Act of 2007 (RA 9474) and other pertinent laws, rules and regulations administered and enforced by the Commission taking into consideration international best practices in the implementation and enforcement of the Anti-Money Laundering (AML) and the Combating the Financing of Terrorism (CFT) regimes. CHAPTER 1 TITLE AND SCOPE Section 1.1. Title. – These Guidelines shall be referred to as the “SEC Guidelines on Anti-Money Laundering and Combating the Financing of Terrorism for SEC Covered Institutions” or the “2018 AML/CFT Guidelines”. Section 1.2. Covered Institutions – The term “covered institutions” shall refer to persons regulated by the Commission under the SRC, the Investment Houses Law, the Investment Company Act, the Financing Company Act of 1998, the Lending Company Regulation Act of 2007, other laws and regulations implemented by the Commission, and the AMLA, as amended. The covered institutions are as follows: 1.2.1 Securities Brokers, Dealers and Salesmen, Associated Person of a Broker or Dealer, Investment Houses and other similar entities managing securities or rendering similar services; 1.2.2 Investment Company Advisers/Fund Managers, Mutual Fund Distributors, Mutual Fund Companies, Closed-End Investment Companies; 1.2.3 Investment Advisor/Agent/Consultant; 1.2.4 Financing Companies and Lending Companies, both with more than 40% foreign participation in its voting stock or with paid-up capital of Php10 Million or more; 1.2.5 Other entities administering or otherwise dealing in currency, commodities or financial derivatives based thereon, cash substitutes and other similar monetary instruments or property, supervised or regulated by the Commission. Section 1.3. Scope. – These Guidelines shall apply to the foregoing covered institutions, including their subsidiaries and affiliates that are also covered institutions, wherever they may be located. Section 1.4. Covered Institutions Subject to Regulatory Power of Other Government Agency. – The Commission, as the Supervising Authority of the covered institutions as enumerated under Section 3(a)(3) of the AMLA, as amended, and where its supervision applies only to the incorporation of the covered institution, shall have the authority to require and ask assistance from the government agency having regulatory power and/or licensing authority over said covered institution for the implementation and enforcement of the AMLA, as amended, and its Revised Implementing Rules and Regulations (RIRR). CHAPTER 2 DEFINITION OF TERMS

direct or indirect ownership of at least 25% of any category of voting shares or capital of a legal person, arrangement, understanding, relationship or otherwise has or shares voting power, which includes the power to vote, or to direct the voting of, such security; and/or investment returns or power, which includes the power to dispose of, or to direct, the disposition of such security; Provided, that a person shall be deemed to have an indirect beneficial ownership interest in any security which is: (i)

held by members of his/her immediate family sharing the same household;

(ii)

held by a partnership in which he/she is a general partner;

(iii)

held by a corporation of which he/she is the controlling shareholder; or

(iv)

subject to any contract, arrangement or understanding which gives him/her voting power or investment power with respect to such securities: Provided, however, that a person shall not be deemed to be a beneficial owner of securities held by him/her for the benefit of third parties or in customer or fiduciary accounts in the ordinary course of business, so long as such shares were acquired by such person without the purpose or effect of changing or influencing control of the issuer.

the ability to elect a majority of the board of directors, or any similar body, of a legal person or arrangement; or

any situation in which: (i) a person has the ability in fact to exert a dominant influence over the management or policies of a legal person or arrangement; or (ii) a majority of the members of the board of directors of a such legal person or arrangement, or any equivalent body, are accustomed or under an obligation, whether formal or informal, to act in accordance with a given person’s directions, instructions or wishes in conducting the affairs of the legal person or arrangement.

In exceptional cases where no natural person is identifiable who ultimately owns or exerts control over the legal entity, covered institutions, having exhausted all other means of identification, and provided there are no grounds for suspicion, may consider the senior managing official/s to be the beneficial owner/s. All securities of the same class beneficially owned by a person, regardless of the form such beneficial ownership takes, shall be aggregated in calculating the number of shares beneficially owned by such person. A person shall be deemed to be the beneficial owner of a security if that person has the right to acquire beneficial ownership within thirty (30) days, including, but not limited to, any right to acquire, through the exercise of any option, warrant or right; through the conversion of any security; pursuant to the power to revoke a trust, discretionary account or similar arrangement; or pursuant to automatic termination of a trust, discretionary account or similar arrangement. 2.1.17 “Unlawful activity” refers to any act or omission or series or combination thereof involving or having direct relation to the following: 1. “Kidnapping for Ransom” under Article 267 of Act No. 3815, otherwise known as the Revised Penal Code, as amended;

3. Section 3 paragraphs b, c, e, g, h and i of Republic Act No. 3019, as amended, otherwise known as the “Anti-Graft and Corrupt Practices Act”; 4. “Plunder” under Republic Act No. 7080, as amended; 5. “Robbery” and “Extortion” under Articles 294, 295, 296, 299, 300, 301 and 302 of the Revised Penal Code, as amended; 6. “Jueteng” and “Masiao” punished as illegal gambling under Presidential Decree No. 1602;

2.1.1 “Securities broker” is a person engaged in the business of buying and selling securities for the account of others.

7. “Piracy on the High Seas” under the Revised Penal Code, as amended, and Presidential Decree No. 532;

2.1.2 “Securities dealer” means any person who buys and sells securities for his/her own account in the ordinary course of business.

8. “Qualified Theft” under Article 310 of the Revised Penal Code, as amended;

2.1.4 “Associated person of a broker or dealer” is any person employed full time by the Broker Dealer whose responsibilities include internal control supervision of other employees, agents, salesmen, officers, directors, clerks and stockholders of such Broker Dealer for compliance with the SRC and rules and regulations adopted thereunder. 2.1.5. “Investment House” means any enterprise which primarily engages, whether regularly or on an isolated basis, in the underwriting of securities of another person or enterprise, including securities of the government and its instrumentalities. 2.1.6 “Investment Company Adviser/Fund Manager” shall refer to an Investment Company Adviser licensee who regularly advises or recommends investment decisions with regard to the securities or other portfolio of the Investment Company pursuant to an advisory contract with the Investment Company.

9. “Swindling” under Article 315 and “Other Forms of Swindling” under Article 316 of the Revised Penal Code, as amended; 10. “Smuggling” under Republic Act No. 455, and Republic Act No. 1937, as amended, otherwise known as the “Tariff and Customs Code of the Philippines”; 11. Violations under Republic Act No. 8792, otherwise known as the “Electronic Commerce Act of 2000”; 12. “Hijacking” and other violations under Republic Act No. 6235, otherwise known as the “Anti-Hijacking Law”; “Destructive Arson”; and “Murder”, as defined under the Revised Penal Code, as amended; 13. “Terrorism” and “Conspiracy to Commit Terrorism” as defined and penalized under Sections 3 and 4 of Republic Act No. 9372; 14. “Financing of Terrorism” under Section 4 and offenses punishable under Sections 5, 6, 7 and 8 of Republic Act No. 10168, otherwise known as the “Terrorism Financing Prevention and Suppression Act of 2012”;

2.1.7 “Mutual Fund Distributor” shall refer to a juridical person duly licensed or authorized by the Commission to distribute shares or units of an Investment Company as either principal distributor or sub-distributor.

15. “Bribery” under Articles 210, 211 and 211-A of the Revised Penal Code, as amended, and “Corruption of Public Officers” under Article 212 of the Revised Penal Code, as amended;

2.1.8 “Investment Company” is any issuer which is, or holds itself out as being, engaged primarily, or proposed to engage primarily, in the business of investing, reinvesting or trading in securities.

16. “Frauds and Illegal Exactions and Transactions” under Articles 213, 214, 215 and 216 of the Revised Penal Code, as amended;

2.1.9 “Open-End Investment Company” is an investment company which is offering for sale or has outstanding, any redeemable security of which it is the issuer. Also referred to as Mutual Fund. 2.1.10 “Closed-End Investment Company” refers to an investment company which offers for sale a fixed number of non-redeemable securities which are offered in an initial public offering and thereafter traded in an organized market as determined by the Commission. 2.1.11 “Investment Advisor/Agent/Consultant” shall refer to any person: (1) who for an advisory fee is engaged in the business of advising others, either directly or through circulars, reports, publication or writings, as to the value of any security and as to the advisability of trading in any security; or (2) who for compensation and as part of a regular business, issues or promulgates, analyzes reports concerning the capital market, except: (a) any bank or trust company; (b) any journalist, reporter, columnist, editor, lawyer, accountant or teacher; (c) the publisher of any bona fide newspaper, news, business or financial publication of general and regular circulation, including their employees; (d) any contract market; or

Any person who, knowing that any monetary instrument or property represents, involves, or relates to the proceeds of any unlawful activity: 1. transacts said monetary instrument or property; 2. converts, transfers, disposes of, moves, acquires, possesses or uses said monetary instrument or property; 3. conceals or disguises the true nature, source, location, disposition, movement or ownership of or rights with respect to said monetary instrument or property; 4. attempts or conspires to commit money laundering offenses referred to in (1), (2), or (3) above; 5. aids, abets, assists in, or counsels the commission of the money laundering offenses referred to in (1), (2), or (3) above; and 6. performs or fails to perform any act as a result of which he facilitates the offense of money laundering referred to in (1), (2), or (3) above.

Any covered person who, knowing that a covered or suspicious transaction is required under the AMLA to be reported to the AMLC, fails to do so.

Section 3.2. Stages of Money-Laundering. – The process of money laundering generally comprises three (3) stages during which there may be numerous transactions that, could alert a covered institution to the money laundering activity: 3.2.1

Placement - the physical disposal of cash proceeds, derived from illegal activity.

3.2.2 Layering - separating the illicit proceeds from their source by creating complex layers of financial transactions designed to disguise the audit trail and provide anonymity or to obscure the source of the funds. 3.2.3

Integration - provides appearance of legitimacy to criminally derived wealth If the layering process has succeeded, the integration schemes place the laundered proceeds back into the economy in such a way that they reenter the financial system appearing to be normal business funds.

Because of the nature of the business relationships entered into and among clients and the covered institutions, which are no longer predominantly cash-based, they are less conducive to the initial placement of criminally derived funds other than financial industries such as banking. Most payments are made by way of checks from another financial institution; hence, it can be assumed that the first stage of money laundering has already been achieved. Nevertheless, the purchases by cash are not unknown and the risk of the business being used at the placement stage cannot be ignored. The businesses of these covered institutions are most likely to be used at the second stage of money laundering, i.e., the layering process, as they provide a potential avenue which may allow a dramatic alteration of the form of funds, from cash on hand to securities such as stock certificates, investment contracts, evidences of indebtedness, bearer and other negotiable instruments. Investment transactions incorporate an added attraction to the money launderer in that the alternative asset is normally highly liquid. The ability to liquidate investment portfolios containing both lawful and illicit proceeds, whilst concealing the criminal source of the latter, combined with the huge variety of investments available, and the ease of transfer between them, offers the sophisticated criminal launderer an ideal route to effective integration into the legitimate economy. Due diligence must, therefore, be exercised to prevent the use of these covered institutions as instruments for money laundering.

2. Sections 4, 5, 6, 8, 9, 10, 11, 12,13, 14, 15 and 16 of Republic Act No. 9165, otherwise known as the “Comprehensive Dangerous Drugs Act of 2002”;

Section 2.1. Definition of Terms. – Except as otherwise defined herein, all terms used shall have the same meaning as those terms that are defined in the AMLA, as amended.

2.1.3 “Securities salesman” is a natural person hired to buy and sell securities on a salary or commission basis properly endorsed to the Commission by the employing Broker Dealer.

Money laundering is committed by:

CHAPTER 4 BASIC PRINCIPLES AND POLICIES TO COMBAT MONEY LAUNDERING AND TERRORIST FINANCING Section 4.1. Money Laundering and Terrorist Financing Prevention Program. All covered institutions shall adopt a comprehensive and risk-based Money Laundering and Terrorist Financing Prevention Program (MLPP) geared toward the promotion of high ethical and professional standards and the prevention of the covered institutions from being used, intentionally or unintentionally, for money laundering and terrorism financing. The MLPP shall be consistent with the AMLA, as amended, its RIRR and the provisions set forth in these Guidelines and designed according to the covered institution’s corporate structure and risk profile. It shall be in writing, approved by the board of directors or by the country/regional head or its equivalent for local branches of foreign covered institutions, and well disseminated to all officers and staff who are obligated by law and by their program to implement the same. Where a covered institution has branches, subsidiaries, affiliates or offices located within and/or outside the Philippines, there shall be a consolidated system to ensure the coordination and implementation of the MLPP on a group-wide basis, taking into account local business considerations and the requirements of the host jurisdiction. The covered institution at the head of the group shall be responsible for effective implementation of the MLPP at the level of the group. The covered institution at the head of the group refers to the covered institution that is not a subsidiary of any other covered institution in the group (i.e., the ultimate parent company/covered institution in the group). For purposes of these Guidelines, a group of covered institutions shall refer to a covered institution, its subsidiaries and affiliates that are covered institutions. The MLPP shall also be readily available in user-friendly form, whether in hard or soft copy. The covered institution must put up a procedure to ensure an audit trail evidencing the dissemination process for new and amended policies and procedures. The program shall embody the following at a minimum: (1) Detailed procedures of the covered institution’s compliance and implementation of the following major requirements of the AMLA, as amended, its RIRR, other applicable guidelines issued by the AMLC and these Guidelines, to wit: (a) Customer identification process including acceptance policies and on going monitoring processes; (b) Record keeping and retention;

17. “Malversation of Public Funds and Property” under Articles 217 and 222 of the Revised Penal Code, as amended; 18. “Forgeries” and “Counterfeiting” under Articles 163, 166, 167, 168, 169 and 176 of the Revised Penal Code, as amended; 19. Violations of Sections 4 to 6 of Republic Act No. 9208, otherwise known as the “AntiTrafficking in Persons Act of 2003, as amended”; 20. Violations of Sections 78 to 79 of Chapter IV of Presidential Decree No. 705, otherwise known as the “Revised Forestry Code of the Philippines, as amended”; 21. Violations of Sections 86 to 106 of Chapter IV of Republic Act No. 8550, otherwise known as the “Philippine Fisheries Code of 1998”; 22. Violations of Sections 101 to 107, and 110 of Republic Act No. 7942, otherwise known as the “Philippine Mining Act of 1995”; 23. Violations of Section 27(c), (e), (f), (g) and (i) of Republic Act No. 9147, otherwise known as the “Wildlife Resources Conservation and Protection Act”; 24. Violations of Section 7(b) of Republic Act No. 9072, otherwise known as the “National Caves and Cave Resources Management Protection Act”; 25. Violation of Republic Act No. 6539, otherwise known as the “Anti-Carnapping Act of 2002, as amended”;

(e) such other person not within the intent of this definition, provided that the furnishing of such service by the foregoing persons is solely incidental to the conduct of their business or profession.

26. Violation of Sections 1, 3, and 5 of Presidential Decree No. 1866, as amended, otherwise known as the decree “Codifying the Laws on Illegal/Unlawful Possession, Manufacture, Dealing In, Acquisition or Disposition of Firearms, Ammunition or Explosives”;

(3) who undertakes the management of portfolio securities of investment companies, including the arrangement of purchases, sales or exchange of securities.

27. Violation of Presidential Decree No. 1612, otherwise known as the “Anti-Fencing Law”;

2.1.12 “Financing Companies” are corporations which are primarily organized for the purpose of extending credit facilities to consumers and to industrial, commercial, or agricultural enterprises, by direct lending or by discounting or factoring commercial papers or accounts receivable, or by buying and selling contracts, leases, chattel mortgages,

28. Violation of Section 6 of Republic Act No. 8042, otherwise known as the “Migrant Workers and Overseas Filipinos Act of 1995, as amended”;

(c) Covered transaction reporting; and (d) Suspicious Transaction (ST) reporting, including the adoption of a system, electronic or manual, of flagging, monitoring and reporting of transactions that qualify as suspicious transactions, regardless of amount or that will raise a “red flag” for purposes of conducting further verification or investigation, or transactions involving amounts below the threshold to facilitate the process of aggregating them for purposes of future reporting of such transactions to the AMLC when their aggregated amounts breach the threshold. The ST reporting shall include a reporting chain under which a ST will be processed and the designation of a board-level or approved committee who will ultimately decide whether or not the covered institution should file a report to the AMLC. If the resources of the covered institution do not permit the designation of a committee, it may designate the Compliance Officer to perform this function instead, provided, that the board of directors approves this decision in writing. (2) An effective and continuous AML/CFT training program for all directors, and responsible officers and employees, to enable them to fully comply with their obligations and responsibilities under these Guidelines, the AMLA, as amended, its RIRR and their internal policies and procedures as embodied in the MLPP. The training program shall also include refresher trainings to remind these individuals of their obligations and responsibilities as well as update them of any changes in AML/CFT laws, rules and internal policies and procedures.

(3) An adequate screening and recruitment process to ensure that only qualified personnel who have no criminal record/s or adverse circumstances in their backgrounds that would entail a risk of involvement in money laundering or terrorist financing are employed to assume sensitive functions within the covered institution; (4) An internal audit system in accordance with Chapter 10 of this Guidelines; (5) An independent audit program with written scope of audit that will ensure the completeness and accuracy of the information and identification documents

CYAN MAGENTA YELLOW BLACK

CYAN MAGENTA YELLOW BLACK Manila

THURSDAY, NOVEMBERStandard 8, 2018TODAY obtained from clients, the covered and suspicious transactions reports submitted to the AMLC, and the records retained in compliance with these Guidelines as well as adequacy and effectiveness of the training program on the prevention of money laundering and terrorism financing; (6) A mechanism that ensures all deficiencies noted during the audit and/or SEC regular or special examination or other applicable regulator’s examination are immediately corrected and acted upon; (7) Cooperation with the AMLC; (8) Designation of an AML Compliance Officer, who shall at least have a rank of senior vice president or an equivalent position with adequate stature and authority in the corporation as the lead implementor of the program within an adequately staffed compliance office. The AML compliance officer should not be a member of the Board of Directors and should annually attend AML trainings. The AML Compliance Officer may also be the liaison between the covered institution, the SEC and the AMLC in matters relating to the covered institution’s AML/CFT compliance. Where resources of the covered institution do not permit the hiring of an AML Compliance Officer, the board of directors may provide that the Compliance Officer shall also assume the responsibility of the former. (9) A mechanism where information required for customer due diligence and ML/ TF risk management are accessible by the parent covered institution and information are freely shared among branches, subsidiaries, affiliates and offices located within and/or outside the Philippines. Exchange of information among branches, subsidiaries, affiliates, and offices located within and/or outside the Philippines shall not be deemed a violation of Rule 9, Item C of the RIRR as long this is done within the group. The MLPP may require a potential and/or existing customer to sign a waiver on the disclosure of information within the group; Provided, however, that covered persons should take measures to ensure that its officers and employees are aware of their respective responsibilities in maintaining the confidentiality of financial investigations, and that no officer or employee communicates to any person any information in relation to any request for details and documents by the AMLC in the course of its investigation. (10) Policies and control procedures and monitoring mechanism for prevention or mitigation of ML/TF risks. Section 4.2. Submission of the Revised and Updated MLPP with Approval by the Board of Directors or Country Head. – Within six (6) months from the effectivity of these Guidelines, all covered institutions shall submit their MLPP to the Commission through the Operating Department having supervision over such covered institutions copy furnished the Anti-Money Laundering Division (AMLD) of the Enforcement and Investor Protection Department (EIPD). The revised or updated MLPP shall be approved by the board of directors, or the country/ regional head or its equivalent for local branches of foreign covered institutions and shall embody the principles and policies enunciated in these Guidelines. Section 4.3. Updating of MLPP. – The MLPP shall be regularly updated at least once every two (2) years to incorporate changes in AML/CFT policies and procedures, latest trends in ML and TF typologies, and latest pertinent SEC issuances. Any revision or update in the MLPP shall likewise be approved by board of directors or the country/ regional head or its equivalent for local branches of foreign covered institutions. Section 4.4. Checking of Covered Person’s MLPP. – Covered persons shall make their MLPPs readily available for inspection during onsite examination. CHAPTER 5 CUSTOMER IDENTIFICATION A. General Requirements Section 5.A.1. Written Client Identification and Acceptance Policies and Procedures. – Covered institutions must develop clear written client identification and graduated acceptance policies and procedures including a set of criteria for customers that are likely to pose low, normal or high risk to their operations. Such policies and procedures must be designed to ensure that the financially or socially disadvantaged are not denied access to financial services, while at the same time prevent suspicious individuals or entities from opening an account or establishing a relationship. The policies and procedures must include procedures for providing customers with adequate notice that the covered institution is requesting information to verify their identities. If appropriate, the covered institution may use the following sample language to provide notice to its customers: IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT To help the government fight money laundering activities, the Anti-Money Laundering Act, as amended, requires all covered institutions to obtain, verify and record information that identifies each person who opens an account. What this means for you: When you open an account, we will ask for your name, address, date of birth, business, TIN, SSS or GSIS Nos. and other information that will allow us to identify you. We may also ask to see your driver’s license, passport or other competent evidence of identity bearing your photograph and signature. Section 5.A.2. Continuing Due Diligence. – “Know your customer” measures of the covered institution should include conducting continuing due diligence on the business relationship to ensure that the transactions being conducted are consistent with the covered institution’s knowledge of the customer and/or beneficial owner, their business profile, including, where necessary, the source of its funds. Section 5.A.3. Customer Information and Identification Documents. – Covered institutions shall obtain and record competent evidence of the true and full identity, representative capacity, domicile, legal capacity, occupation or business purposes of clients, as well as other identifying information on those clients, whether they be occasional or usual, through the use of documents such as, but not limited to: (1) Identity documents, such as passports, birth certificates, driver’s licenses, and other similar identity documents, which are verifiable from the institution issuing the same. The identifying documents should provide evidence of complete name or names used, residential address, date of birth, nationality, office address and contact details. They should include at least one (1) identifying document bearing the photograph and signature of the client. The identifying documents which are considered most reliable are official identity cards and passports. While identification documents that are easily obtained in any name e.g. medical cards, credit cards and student identification cards, may be used, they should not be accepted as the sole means of identification. Clients engaging in transactions with covered institutions shall present one (1) original official identity card with photo and signature. For this purpose, the term “official identity card” shall refer to those issued by any of the following: the National Government of the Republic of the Philippines, its political subdivisions or instrumentalities, or government owned and controlled corporations. Passports issued by foreign governments shall be considered as prima facie identification documents of persons engaging in transactions with the covered institutions. (2) Incorporation and partnership papers, for corporate and partnership accounts. These documents should be certified as true copies from the issuing government agency. (3) Special authorizations for representatives, which must be duly notarized. Section 5.A.4. Additional or Further Verification Measures. – Clients should be made aware of the covered institutions’ explicit policy that business transactions will not be conducted with applicants who fail to provide competent evidence of their identity, but without derogating from the covered institutions’ obligation to report suspicious transactions. Where initial verification fails to identify the applicant, or gives rise to suspicion/s that the information provided is false, additional verification measures should be undertaken to determine whether to proceed with the business and/or make a suspicious transaction report if circumstances under Section 3(b-1) of the AMLA, as amended, would apply. Details of the additional verification are to be recorded in writing and be made available for inspection by the Commission or appropriate authorities. The covered institution shall take further measures to verify the identity of the customer or the beneficial owner, as applicable, if during the business relationship, it has reason to doubt: (1) The accuracy of the information relating to the customer’s identity; (2) That the customer is the beneficial owner; or (3) The customer’s declaration of beneficial ownership. Section 5.A.5. Updating Client Information. – Covered institutions shall ensure that they know their customers well, and accordingly, shall keep current and accurate all material information with respect to their customers by regularly conducting verification and an update thereof. Section 5.A.6. Unusual Transactions. – A covered institution should pay special attention to all unusually large transactions or unusual patterns of transactions. This requirement applies both to the establishment of a business relationship and to ongoing due diligence. The background and purpose of such transactions should, as far as possible, be examined, the findings established in writing, and be available to help competent authorities.

It is understood that the Commission reserves the right to disapprove arrangements of covered institutions with intermediaries or third parties when it has been proven to have been abused by covered institutions. Where such reliance is permitted, the following criteria should be met: (1) The covered institution, relying on the intermediary or third party, should immediately take adequate steps to satisfy itself that copies of identification data and other relevant documentation relating to the customer due diligence requirements will be made available from the intermediaries and third parties upon request without delay. The covered institution should be satisfied with the quality of the due diligence undertaken by the intermediaries and third parties. (2) The covered institution should satisfy itself that the intermediaries and third parties are regulated and supervised, and have measures in place to comply with customer due diligence requirements. (3) The customer identification program of the third party intermediary is similar to or is equivalent to the customer identification program of the covered institution. (4) Ultimate responsibility for customer and/or beneficial owner identification and verification remains with the covered institution relying on intermediaries or third parties. In cases of high risk customers, the covered person relying on the third person shall also conduct enhanced due diligence procedures. Section 5.A.13. Outsourcing the Conduct of Customer Identification. – Covered persons may outsource the conduct of customer identification, including face-to-face contact, to a counter-party, intermediary or agent. The outsource, counter-party or intermediary shall be regarded as agent of the covered person – that is, the processes and documentation are those of the covered person itself. The ultimate responsibility for identifying the customer and keeping the identification documents remains with the covered person. The covered person outsourcing the conduct of customer identification, including face-to-face contact, shall ensure that the employees or representatives of the counterparty, intermediary or agent undergo equivalent training program as that of the covered person’s own employees undertaking similar activity. Section 5.A.14. Prohibited Accounts. – Covered institutions shall maintain customer accounts only in the name of the account holder. They shall not open or keep anonymous accounts, fictitious name accounts, incorrect name accounts, and similar accounts. B. Personal Customers Section 5.B.1. Covered institutions shall obtain from all individual clients the following information: (1) (2) (3) (4) (5) (6) (7) (8) (9)

complete name and names used; present address; permanent address; mailing address; date and place of birth; nationality; contact details (avoid pre-paid cellular phone numbers) nature of work, name of employer or nature of selfemployment or business; Tax Identification Number, Social Security number or Government Service and Insurance System number; (10) specimen signature; (11) sources of funds, whenever necessary; (12) names of beneficial owner or beneficiaries, if applicable; (13) complete name, address and contact information of beneficial owner, if applicable. C. Risk-Assessment/Risk-Profiling of Customers Section 5.C.1. A covered institution shall formulate a risk-based and tiered customer acceptance, identification and retention policy that involves reduced customer due diligence (CDD) for potentially low risk clients and enhanced CDD for higher risk accounts. Covered institutions shall specify the criteria and description of the types of customers that are likely to pose low, normal or high ML/TF risk to their operations, as well as the standards in applying reduced, average and enhanced due diligence, including a set of conditions for the denial of account opening or services. Enhanced due diligence shall be applied to customers that are assessed by the covered institution or under these Guidelines as high risk for ML/TF. For customers assessed to be of low risk such as small account balances and transactions, a covered institution may apply reduced due diligence. Some entities may likewise be considered as low risk clients, e.g., banking institutions, trust entities and Qualified Buyers (QBs) authorized by the BSP to operate as such and publicly listed companies subject to regulatory disclosure requirements. In designing a customer acceptance and risk profiling policy, the following criteria relating to the product or service, the customer, and geographical location, at a minimum, shall be taken into account: (1) The nature of the service or product to be availed of by the customers and the purpose of the account or transaction; (2) Source of funds/nature of business activities; (3) Public or high profile position of the customer or its directors/trustees, stockholders, officers and/or authorized signatory; (4) Country of origin and residence of operations or the fact that a customer came from a high risk jurisdiction; (5) The existence of ST indicators; (6) Watch list of individuals and entities engaged in illegal activities or terroristrelated activities as circularized by the BSP, SEC, AMLC, and other international entities or organizations, such as the Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury and United Nations Sanctions List; and (7) Such other factors, e.g., the amount of the funds involved or the size of the transaction undertaken by a customer or the size of transactions, and regularity or duration of the transaction, as the covered institution may deem reasonable or necessary to consider in assessing the risk of a customer to ML/TF. In assessing the risk profile of customers which are juridical entities, the covered institution should also consider the financial profile and other relevant information of the active authorized signatories. The covered institution shall document the risk profiling results as well as how a specific customer was profiled and what standard of CDD (reduced, average or enhanced) was applied. Further, it shall regularly update its risk-assessment/risk-profiling of its clients. Section 5.C.2. Reduced Due Diligence. – In general, the full range of customer due diligence measures should be applied. However, if the risk of money laundering or the financing of terrorism is lower based on the covered institution’s assessment, and if information on the identity of the customer and the beneficial owner is publicly available, or adequate checks and controls exist elsewhere in national systems, it could be reasonable for covered institutions to apply simplified or reduced customer due diligence measures when identifying and verifying the identity of the customer, the beneficial owner and other parties to the business relationship. Examples of customers where simplified or reduced customer due diligence measures could apply are: (1) Financial institutions where they are subject to requirements to combat money laundering and the financing of terrorism consistent with the Financial Action Task Force (FATF) Recommendations, and are supervised for compliance with those controls. (2) Public companies that are subject to regulatory disclosure requirements (3) Government institutions and its instrumentalities. Reduced due diligence shall not be applied if there is suspicion of ML/TF. Section 5.C.3. Enhanced Due Diligence (EDD). – Covered persons shall examine, as far as reasonably possible, the background and purpose of all complex, unusual large transactions and/or unusual patterns of transactions which, have no apparent economic or lawful purpose, and other transactions that may be considered suspicious. Where the risks of ML/TF are higher, covered persons are required to conduct enhanced CDD measures consistent with the risks identified. Whenever EDD is applied as required by these Guidelines, or by the covered institution’s customer acceptance policy, or where the risk of ML/TF are higher, the covered institution shall do all of the following, in addition to profiling of customers and monitoring of their transactions: (1) Gather additional customer information and/or identification documents, other than the minimum information and/or documents required for the conduct of normal due diligence. (a) In case of individual customers(i) supporting information on the intended nature of the business relationship/ source of funds/source of wealth (such as financial profile, ITR, etc.); (ii) reasons for intended or performed transactions;

Section 5.A.7. Acquisition by Covered Institution of the Business of Another Covered Institution. – When a covered institution acquires the business of another covered institution, either in whole or as a product portfolio, it is not necessary for the identity of all existing customers to be re-identified, provided that:

(iii) list of companies where he/she is a stockholder, beneficial owner, director, officer, or authorized signatory; (iv) other relevant information available through public databases or internet; and

(1) All customer account records are acquired with the business; and (2) Due diligence inquiries do not raise any doubt as to whether the anti-money laundering procedures previously adopted by the acquired business have satisfied Philippine requirements.

(v)

Section 5.A.8. If the True identity of Customer cannot be established. – The covered institution’s policies and procedures must include procedures for responding to circumstances in which the covered institution cannot form a reasonable belief that it knows the true identity of a customer or when the covered institution is unable to comply with Section 5.A.3 hereof. These procedures should include, among others, the following:

(b) In case of entities –

(1) When the covered institution should not open the account or commence business relations or perform the transaction; (2) The terms under which a customer may conduct transactions while the covered institution attempts to verify the customer’s identity; (3) When the covered institution should close an account or terminate business relationship after attempts to verify customer’s identity fail; and (4) Should consider filing a Suspicious Transaction Report with the AMLC. Section 5.A.9. Conduct of Face-to-Face Contact. – Covered persons shall conduct face-to-face contact at the commencement of the relationship, or as reasonably practicable so as not to interrupt the normal conduct of business, taking into account the nature of the product, type of business and the risks involved; Provided, that money laundering risks are effectively managed. The use of Information and Communication Technology in the conduct of face-to-face contact may be allowed, provided that the covered person is in possession of and has verified the identification documents submitted by the prospective client prior to the interview and that the entire procedure is documented. Section 5.A.10. Presentation of Original Identification Documents. – Covered institutions shall request individual clients who present only photocopies of identification card and other documents to produce the original documents thereof for verification purposes. Section 5.A.11. Use of New or Developing Technologies. – Covered institutions should pay special attention to any money laundering threats that may arise from new or developing technologies that might favor anonymity, and take measures, if needed, to prevent their use in money laundering schemes. Section 5.A.12. Third Party Reliance. – The covered institution’s policies and procedures may include procedure specifying reliance on an intermediary or third party for its know your customer or customer due diligence requirements as long as the intermediary or third party relied upon are considered as covered institution as defined under these Guidelines or any other guidelines or rules issued by the Bangko Sentral ng Pilipinas (BSP) or the Insurance Commission (IC), or as defined and identified by foreign jurisdictions in so far as covered institutions in their respective jurisdictions are concerned.

CYAN MAGENTA YELLOW BLACK

a list of banks where the individual has maintained or is maintaining an account.

(i)

prior or existing bank references;

(ii)

the name, present address, nationality, date of birth, nature of work, contact number and source of funds of each of the primary officers (e.g., President, Treasurer);

(iii)

volume of assets, other information available through public databases or internet and supporting information on the intended nature of the business relationship, source of funds or source of wealth of the customer (ITR, Audited Financial Statements, etc.); and

(iv) reasons for intended or performed transactions. (2)

Conduct validation procedures on any or all of the information provided;

(3)

Secure senior management approval to commence or continue business relationship/transacting with the customer;

(4) Conduct enhanced ongoing monitoring of the business relationship, by, among others, increasing the number and timing of controls applied, and selecting patterns of transactions that need further examination; (5)

Require the first payment to be carried out through an account in the customer’s name with a bank subject to similar CDD standards, where applicable; and (6)

Perform such other measures as the covered institution may deem reasonable or necessary.

Section 5.C.4. Minimum Validation Procedures for EDD. – The procedures performed must enable the covered institution to achieve a reasonable confidence and assurance that the information obtained are true and reliable. Validation procedures for individual customers shall include, but are not limited to, the following: (1) Confirming the date of birth from a duly authenticated official document; (2) Verifying the address through evaluation of utility bills, bank or credit card statement, sending thank you letters, or other documents showing address or through on-site visitation; (3) Contacting the customer by phone or e-mail;

(4) Determining the authenticity of the identification documents through validation of its issuance by requesting a certification from the issuing authority or by any other effective and reliable means; or (5) Determining the veracity of the declared source of funds. For corporate or juridical entities, verification procedures shall include, but are not limited to, the following: (1) Validating source of funds or source of wealth from reliable documents such as audited financial statements, ITR, bank references, etc.; (2) In the case of an entity that is subject to supervision by a financial regulatory/ supervisory body, inquiring from the supervising authority the status of the entity; (3) Verifying the address through on-site visitation of the company, sending thank you letters, or other documents showing address; or (4) Contacting the entity by phone or e-mail. Section 5.C.5. Failure to Conduct/Complete EDD and Tipping Off. – Where additional information cannot be obtained, or any information or document provided is false or falsified, or result of the validation process is unsatisfactory, the covered institution shall decline to establish the relationship with the customer, or to execute the requested transaction, without prejudice to the reporting of a suspicious transaction to the AMLC when circumstances warrant. Where the covered person fails to satisfactorily complete EDD and reasonably believes that conducting EDD will tip off the customer, it shall file an STR and closely monitor the account and review the business relationship. If the covered institution forms a suspicion that transactions relate to ML/TF, it should take into account the risk of tipping off when performing the CDD process. If the institution reasonably believes that performing the CDD process will tip off the customer or potential customer, it may choose not to pursue that process, and should file an STR. Institutions should ensure that their employees are aware of, and sensitive to, these issues when conducting the CDD. D. High Risk Customers Section 5.D.1. Covered institutions should give special attention to business relationships and transactions with persons, including companies and financial institutions, from countries which: (1) Are subject to financial sanctions, embargoes or similar measures by the United Nations or other public international organizations; (2) Have been identified by credible sources as: (a) (b) (c) (d) (e)

having deficient AML/CFT regimes; having significant amounts of corruption or other criminal activity, including in particular illegal drug production, distribution or trafficking, money laundering, or human trafficking; providing financing or supporting terrorism or terrorist activities, or having terrorist organizations operating within their territory; being tax havens; experiencing significant civil unrest.

Credible sources include the FATF, FATF Style Regional Bodies (FSRB) such as the Asia Pacific Group on Money Laundering and the Egmont Group, national authorities such as the Office of Foreign Assets Control of the U.S. Department of the Treasury, or other reliable third parties such as regulatory authorities, international standard setting bodies such as the IOSCO, the Basel Committee, the IAIS, or securities or commodities exchanges. The background and purpose of these transactions should, as far as possible, be examined, and the findings established in writing. Whenever this examination reveals that these transactions have no apparent economic or visible lawful purpose, the covered institution should decline to proceed with the transaction or to establish the business relationship, or terminate the existing relationship, and should consider filing an STR with the AMLC. Section 5.D.2. Covered institutions should ensure that the principles applicable to covered institutions are also applied to branches, offices, affiliates and subsidiaries located abroad, especially in countries which do not or insufficiently apply the anti-money laundering measures implemented in the Philippines, to the extent that local applicable laws and regulations permit. Whenever a covered institution’s branch, office, subsidiary or affiliate based outside the Philippines is prohibited from implementing these Guidelines or any of the provisions of the AMLA, as amended, or its RIRR, by reason of local laws, regulations or a supervisory directive, the covered institution shall: (1) formally notify the Commission of this situation; (2) furnish a copy of the applicable laws and/or regulations or the supervising authority’s directive, as the case may be; (3) advise the Commission of what measures or mitigating controls it intends to adopt to manage the money laundering (ML) and terrorist financing (TF) risks in such branches, offices, subsidiaries, or affiliates to the extent feasible; (4) keep the Commission apprised of its efforts in this area, including any updates to the measures or controls referred to in point 3 above; (5) at the direction of the Commission, close any branch or office, or divest itself of its interest in any subsidiary or affiliate, as the case may be, if the Commission determines that the covered institution cannot effectively manage the ML and/ or TF risks arising from its relationship with such branch, office, subsidiary, or affiliate. Section 5.D.3. Customers from countries referred to in Section 5.D.1 above are considered higher risk customers. In addition to the requirements under Sections 5.A.2 and 5.A.3 hereof, covered institutions are required to establish the source of wealth of higher risk customers. Decisions on business relations with higher risk customers must be taken by its senior management. E. Politically Exposed Persons Section 5.E.1. Covered institutions shall establish and record the true and full identity of PEPs, as well as their immediate family members and entities related to them. In case of domestic PEPs or persons who have been entrusted with a prominent function by an international organization, or their immediate family members or close associates, in addition to performing the applicable due diligence measures, covered persons shall: (a) Take reasonable measures to determine whether a customer or the beneficial owner is a PEP; and (b) In cases when there is a higher risk business relationship, adopt measures under Section 5.C.3 and Section 5.C.4 hereof on Enhanced Due Diligence relative to individual customers. In relation to foreign PEPs or their immediate family members or close associates, in addition to performing the applicable customer due diligence measures, covered persons shall: (a) Put in place risk management systems to determine whether a customer or the beneficial owner is a PEP; (b) Adopt measures under Section 5.C.3 and Section 5.C.4 hereof on Enhanced Due Diligence relative to individual customers. F. Single Proprietorships, Corporations, Stock or Non-Stock and Partnerships Section 5.F.1. Before establishing a business relationship, a company search and/or other commercial inquiries shall be made to ensure that the corporate/other business applicant has not been, or is not in the process of being dissolved, struck off, wound-up or terminated. In case of doubt as to the veracity of the corporation or identity of its directors and/or officers, or of the business or its partners, a search or inquiry with the Commission or the relevant Supervising Authority/Regulatory Agency shall be made. Section 5.F.2. The following relevant documents shall be obtained in respect of corporate/ other business applicants that are regulated in the Philippines: (1) Copies of the Certificate of Registration issued by the Department of Trade and Industry, for single proprietors, or by the SEC, for corporations and partnerships, including the Articles of Incorporation or Certificate of Partnership, as appropriate; copies of the By-Laws of the corporation; the latest General Information Sheet, which lists the names of directors/trustees/partners and principal stockholders; and secondary licenses, if any; and other documents such as but not limited to clearance/certification from the Commission that the company is active and compliant with the reportorial requirements. The original or certified true copies of any or all the foregoing documents, where required, should be produced for comparison and verification. (2) Corporate/Partners’ Secretary Certificate citing the pertinent portion of the Board or Partner’s Resolution authorizing the signatory to sign on behalf of the entity; (3) Where necessary and reasonable, covered institutions may also require additional information about the nature of the business of clients, copies of identification documents of shareholders, directors, officers and all authorized signatories; and (4) In the case of a corporate/business applicant that is owned or controlled indirectly or through a chain of entities, a detailed organizational chart or organogram clearly showing the respective ownership and/or control structure, including identification of all beneficial owners. The type of measures that would normally be needed to satisfactorily perform identification of beneficial owners would require identifying the natural persons with a controlling interest and identifying the natural persons who comprise the management of the legal person or arrangement. Where the customer or owner of the controlling interest is a public company that is subject to regulatory disclosure requirements, it is not necessary to seek to identify and verify the identity of any shareholder of that company. Section 5.F.3 For companies, businesses or partnerships registered outside the Philippines, comparable documents are to be obtained, duly authenticated by a senior officer of the covered person assigned in the country of registration; in the absence of said officer, the documents should be authenticated by the Philippine Consulate, company register or notary public, where said entities are registered. Section 5.F.4. If significant changes to the company structure or ownership occur subsequently, or suspicions arise as a result of a change in the payment profile as reflected in a company account, further checks are to be made on the identities of the new owners. Section 5.F.5. It is not necessary for a covered institution to routinely verify the details of the intermediate companies in the ownership structure of a company. However, the covered institution must always use its best efforts to determine who actually controls the customer. Complex ownership structures (e.g. structures involving multiple layers, crossownership, different jurisdictions, trusts, etc.) without an obvious commercial purpose pose an increased risk. In these cases, further steps may be necessary to ensure that the institution is satisfied on reasonable grounds as to the identity of the beneficial owners. The need to verify the intermediate corporate layers of the ownership structure of a company will therefore necessarily depend upon the covered institution’s overall understanding of the structure, its assessment of the risks and whether the information available is adequate in the circumstances for the covered institution to consider if it has taken adequate measures to identify the beneficial owners. It is a good business practice for a covered institution to have each legal entity account holder complete and sign a “beneficial owner declaration form” for each account, and to obtain an organizational chart clearly showing the companies in the group, the relationship of the companies to each other, the ownership of each company, and the ultimate beneficial owner(s) of the customer.

G. Shell Companies Section 5.G.1. Shell companies are legal entities which have no business substance in their own right but through which financial transactions may be conducted. Covered institutions should note that shell companies may be abused by money launderers and therefore be cautious in their dealings with them. Section 5.G.2. In addition to the requirement under Section 5.F.2, covered institutions should also obtain a Board of Directors’ Certification as to the purposes of the owners/

CYAN MAGENTA YELLOW BLACK Manila

Standard THURSDAY, NOVEMBER 8, 2018

TODAY

stockholders in acquiring the shell company. There must likewise be satisfactory evidence of the identities of the beneficial owners, bearing in mind the “Know-Your-Customer” principle. H. Trust, Nominee and Fiduciary Accounts Section 5.H.1. Covered institutions shall establish whether the applicant for business relationship is acting on behalf of another person as a trustee, nominee or agent. Covered institutions should obtain competent evidence of the identity of such agents and authorized signatories, and the nature of their trustee or nominee capacity and duties.

(1) Requirements of the AMLA, as amended, are fully met; (2) Any transaction effected via the covered institution can be reconstructed and from which the AMLC, and/or the courts will be able to compile an audit trail for suspected money laundering, when such report is made to it; (3) The covered institution can satisfy within a reasonable time any inquiry or order from the AMLC as to disclosure of information, including without limitation, whether a particular person is the customer or beneficial owner of transactions conducted through the covered institutions. Section 6.2. Periods of Retention. – The following document retention periods shall be followed:

Section 5.H.2. Where the covered institution entertains doubts as to whether the trustee, nominee or agent is being used as a dummy in circumvention of existing laws, it shall immediately make further inquiries to verify the status of the business relationship between the parties. If satisfactory evidence of the beneficial owners cannot be obtained, covered institutions shall consider whether to proceed with the business, bearing in mind the “Know-Your Customer” principle. If the covered institutions decide to proceed, they are to record any misgivings and give extra attention to monitoring the account in question.

(1) All records of all transactions of covered institutions, especially customer identification records, shall be maintained and safely stored in an easily accessible place for five (5) years from the dates of transactions. (2) With respect to closed accounts, the records on customer identification, account files and business correspondence, shall be preserved and safely stored for at least five (5) years from the dates when they were closed. (3) SRC Rule 52.1.1 (Books and Records Keeping Rule) and Rule 52.1.2 (Records Retention Rule) of the 2015 Implementing Rules and Regulations of the SRC continue to be in full force and effect.

Section 5.H.3. Where the account is opened by a firm of lawyers or accountants, the covered institutions should make reasonable inquiries about transactions passing through the subject accounts that give cause for concern, or from reporting those transactions if any suspicion is aroused. If a money laundering Suspicious Transaction Report is made to the AMLC in respect of such client’s accounts, the Council will seek information directly from the lawyers or accountants as to the identity of its client and the nature of the relevant transaction, in accordance with the powers granted to it under the AMLA, as amended, and other pertinent laws.

Section 6.3. Records Relating to Pending Case. – Notwithstanding Section 6.2 hereof, if the records relate to on-going investigations or transactions that have been the subject of a disclosure, they shall be retained beyond the stipulated retention period until it is confirmed that the case has been closed and terminated. Section 6.4. Forms of Records. – Transaction documents may be retained as originals or copies, on microfilm, provided that such forms are admissible in court, pursuant to the Revised Rules of Court and the E-commerce Act and its Implementing Rules and Regulations.

I. Transactions Undertaken on Behalf of Account Holders or Non-Account Holders Section 5.I.1. Transactions Undertaken on Behalf of Account Holders or NonAccount Holders. – Where transactions are undertaken on behalf of account holders of a covered institution, particular care shall be taken to ensure that the person giving instructions is authorized to do so by the account holder. Transactions undertaken for non-account holders demand special care and vigilance. Where the transaction involves significant amounts, the customer should be asked to produce competent evidence of identity including nationality, especially in cases where the client is not a Filipino, the purposes of the transaction, and the sources of the funds. J. Bearer Shares Section 5.J.1. Bearer shares are equity securities that are wholly owned by whoever holds the physical stock certificate. The issuing company does not register the owner of the stock or track transfers of ownership. Transferring the ownership of the stock involves only delivering the physical document. Bearer shares therefore lack the regulation and control of common shares because ownership is never recorded. Due to the higher ML/ TF risks associated with bearer shares, the FATF standards require countries that allow companies to issue bearer shares to take appropriate measures to ensure that they are not misused for money laundering.

Section 6.5. Digitization of Customer Records. – Covered institutions shall comply with the Guidelines on Digitization of Customer Records as promulgated by the AMLC in accordance with the terms thereof, as may be applicable. Section 6.6. Persons Responsible for Safekeeping of Records. – The covered institution shall designate at least two (2) persons responsible in the safekeeping of all records and report to the Commission any change in the person/s responsible. CHAPTER 7 REPORTING OF COVERED AND SUSPICIOUS TRANSACTIONS Section 7.1. Reporting System. – Each covered institution shall institute a system for the mandatory reporting of covered transactions and suspicious transactions. The system shall be described in detail in the operating manual of the covered institutions. Section 7.2. Registration with AMLC. – All covered persons shall register with the AMLC’s electronic reporting system. Section 7.3. Covered Transaction Report (CTR). – Covered institutions shall file a Covered Transaction Report (“CTR”) with the AMLC involving any transaction in cash or other equivalent monetary instrument involving a total amount in excess of Five Hundred Thousand Pesos (Php500,000.00) within one (1) banking day; Section 7.4. Suspicious Transaction Report (STR). – Covered institutions shall file Suspicious Transaction Reports (“STR”) with the AMLC for transactions, regardless of the amount of the transaction, where any of the following circumstances exists: 1.

Philippine legislation prohibits domestic companies from issuing bearer shares. However, some foreign jurisdictions do permit companies to issue such shares, and there is a possibility that Philippine securities firms may encounter such firms as customers. Thus, institutions dealing with companies that issue such shares need to be particularly diligent, as it is often difficult to identify the beneficial owner(s). Covered institutions should adopt procedures to establish the identities of the holders and beneficial owners of such shares and ensure that they are notified whenever there is a change of holder or beneficial owner. A covered institution dealing with bearer share entities shall conduct enhanced due diligence on said entities and their existing stockholders and/or beneficial owners at the time of opening of the account. These entities shall be subject to ongoing monitoring at all times and the list of stockholders and/or beneficial owners shall be updated within thirty (30) days after every transfer of ownership and the appropriate enhanced due diligence shall be applied to the new stockholders and/or beneficial owners. Specifically, covered institutions should obtain declarations prior to account opening, and annually thereafter, from each beneficial owner holding at least five percent (5%). Covered institutions should also require the customer to notify it immediately of any changes in the ownership of the shares. K. Wire Transfers Section 5.K.1. Because of the risk associated with dealing with fund/ wire transfers, where a covered institution may unknowingly transmit proceeds of unlawful activities or funds intended to finance terrorist activities, it shall establish policies and procedures designed to prevent it from being utilized for that purpose which shall include, but not limited to, the following: (1)

A beneficiary institution shall not accept instructions to pay-out fund transfers to non-customer beneficiary, unless it has conducted the necessary customer due diligence to establish the true and full identity and existence of said beneficiary. Should the originator and beneficiary be the same person, the beneficiary institution may rely on the customer due diligence conducted by the originating institution provided the rules on third party reliance under section 5.A.12 are met, treating the originating institution as third party as therein defined;

(2) An originating institution shall not accept instructions to fund/wire transfer from a non-customer originator, unless it has conducted the necessary customer due diligence to establish the true and full identity and existence of said originator; (3) In cross border transfers, if the originator is a high risk customer as herein described, the beneficiary institution shall conduct enhanced due diligence on the beneficiary and the originator. Where additional information cannot be obtained, or any information or document provided is false or falsified, or result of the validation process is unsatisfactory, the beneficiary institution shall refuse to effect the fund/wire transfer or the pay-out of funds without prejudice to the reporting of a suspicious transaction to the AMLC when circumstances warrant; (4) Whenever possible, manually initiated funds transfer (MIFT) instructions should not be the primary delivery method. Every effort shall be made to provide client with an electronic solution. Where MIFT is utilized, the following validation procedures shall apply: a)

Prior to the covered institution accepting from a customer a manually initiated funds transfer request, the customer must execute and sign an agreement which preferably is part of the account opening documentation, wherein are outlined the manual instruction procedures with related security procedures including customer agreement to accept responsibility for fraudulent or erroneous instructions provided the covered institution has complied with the stated security procedures. It is mandatory that written MIFT instructions are signature verified. In addition, one of the following primary security procedures must be applied: (i) a recorded callback to the customer to confirm the transaction instructions, or (ii) test word arrangement/verification, provided that this procedure may be substituted by any of the following validity checks: ● ● ● ● ●

use of a controlled PIN or other pre-established code; sequential numbering control of messages; pre-established verifiable forms; same as prior transmissions; standing/ pre-defined instructions; or value for value transactions.

It is mandatory that MIFT instructions are signature verified and the device be located in a secured environment with limited and controlled staff access which permits visual monitoring. If monitoring is not possible, the device must be secured or programmed to receive messages into a password protected memory. MIFT transactions below a certain threshold [approved by the [branch manager/country manager] (for branches of foreign covered institutions or Business Risk Manager in accordance with policies and procedures approved by the covered institution’s board of directors] may be processed with the mandatory procedure described above and an enhanced security procedure such as any or all of the following: Telephone callback numbers and contacts must be securely controlled. The confirmation callback is to be recorded and made to the signatory/ (ies) of the customer’s individual account(s). For commercial and company accounts the callback will be made to the signatory/(ies) of the account or, if so authorized, another person designated by the customer in the MIFT agreement. The party called is to be documented on the instructions. The callback must be made by someone other than the person receiving the original instructions and effecting the signature verification.

(5) Cross border and domestic fund/wire transfers and related message not exceeding P50,000.00 or its equivalent in foreign currency, shall include accurate and meaningful originator and beneficiary information. The following information shall remain with the transfer or related message through the payment chain: (a) Name of the originator; (b) Name of the beneficiary; and (c) Account number of the originator and beneficiary, or in its absence, a unique reference number. (6) For cross border and domestic fund/ wire transfers and related message amounting to P50,000.00 or more, or its equivalent in foreign currency, the following information shall be obtained and accompany the wire transfer: (a) Name of the originator; (b) Originator account number where such an account is used to process the transaction or a unique transaction reference number which permits traceability of the transaction; (c)

Originator’s address, or national identity number, or customer identification number, or date and place of birth;

(d) Name of the beneficiary; and (e) Beneficiary account number where such an account is used to process the transaction, or unique transaction reference number which permits traceability of the transaction. For domestic wire transfers, the originating institution should ensure that the required information accompanies the wire transfers, unless this information can be made available to the beneficiary institution and relevant authorities by other effective means. In the latter case, the ordering institution shall include only the account number or a unique identifier within the message or payment form which will allow the transaction to be traced back to the originator or beneficiary. Originating institutions are required to provide the information within three (3) working days from receiving the request either from the beneficiary institution or from relevant authorities or agencies. (7)

Should any wire/fund transfer amounting to P50,000.00 or more or its equivalent be unaccompanied by the required originator information, the beneficiary institution shall exert all efforts to establish the true and full identity and existence of the originator by requiring additional information from the originating institution or intermediary institution. It shall likewise apply enhanced due diligence to establish the true and full identity and existence of the beneficiary. Where additional information cannot be obtained, or any information or document provided is false or falsified, or result of the validation process is unsatisfactory, the beneficiary institution shall refuse to effect the fund/wire transfer or the pay-out of funds without prejudice to the reporting of an ST to the AMLC when circumstances warrant. CHAPTER 6 RECORD KEEPING

Section 6.1. General Requirements for Record Keeping. – The covered institutions’ policies and procedures as described in Chapter 5 hereof, must include procedures for making and maintaining a record of all customer relationships and transactions, including customer identification and verification, such that:

2. 3. 4. 5. 6. 7.

There is no underlying legal or trade obligation, purpose or economic justification; The client is not properly identified; The amount involved is not commensurate with the business or financial capacity of the client; Taking into account all known circumstances, it may be perceived that the client’s transaction is structured in order to avoid being the subject of reporting requirements under the AMLA; Any circumstance relating to the transaction which is observed to deviate from the file of the client and/or the client’s past transactions with the covered institution; The transaction is in any way related to an unlawful activity or offense under the AMLA that is about to be, is being, or has been committed; or Any transaction that is similar or analogous to any of the foregoing.

The Compliance Officer should not simply be a passive recipient of ad hoc reports of suspicious transactions, but should play an active role in the identification and reporting of suspicious transactions. This may also involve regular review of exception reports or large or irregular transaction reports as well as ad hoc reports made by staff. To fulfill these functions, covered institutions must ensure that the Compliance Officer receives full co-operation from all staff and full access to all relevant documentation. Section 8.2. Adviser Regarding AML matters. – Each covered institution shall appoint one or more senior officers, or an appropriate unit, to advise its management and staff on the issuance and enforcement of in-house instructions to promote adherence to the AMLA, as amended, the RIRR, its MLPP, including personnel training, reporting of covered and suspicious transactions, and generally, all matters relating to the prevention of money laundering. Section 8.3. Responsibility of the Covered Institution and its Board. – Notwithstanding the duties of the Compliance Officer, the ultimate responsibility for proper supervision, reporting and compliance under the AMLA, as amended, its RIRR shall rest with the covered institution and its board of directors. CHAPTER 9 INTERNAL CONTROL AND PROCEDURES Section 9.1. General Requirements. – Covered institutions are required to establish and implement internal control and procedures aimed at preventing and impeding money laundering. Such procedures shall, among other things, ensure that such covered institutions and their employees are aware of the provisions of the AMLA, its implementing rules and regulations, as well as all reportorial and compliance control and procedures that shall be established by the AMLC, the Supervising Authority and each covered institution. Covered institutions shall see to it that their respective policies and procedures for dealing with money laundering, reflecting the requirements under the AMLA and its implementing rules and regulations, are clearly set out and reflected in their Operating Manual. Section 9.2. Coverage of Internal Control Policies and Procedures. – Policies and procedures should cover, among others: 9.2.1 Communications of firm policies relating to money laundering, including timely disclosure of information and internal audits to ensure compliance with policies, procedures and controls relating to money laundering; 9.2.2 Account opening and customer identification, including requirements for proper identification; 9.2.3 Maintenance of records; 9.2.4 Compliance with the requirement of the AMLA, as amended, its Revised Implementing Rules and Regulations, and all Circulars issued by the Commission and the AMLC; 9.2.5 Cooperation with the Commission and other relevant Authorities. Section 9.3. Written Internal Reporting Procedures. – Covered institutions shall establish written internal reporting procedures which shall: 9.3. 1 Enable all its directors, officers, employees, and all key staff to know to whom they should report any knowledge or suspicion of money laundering activity; 9.3.2 Ensure that there is a clear reporting chain under which suspicions of money laundering activity will be passed to the Compliance Officer, in accordance with the reporting procedures of the covered institution; 9.3.3 Require the Compliance Officer to consider any report in the light of all relevant information available for the purpose of determining whether or not it gives rise to a knowledge or suspicion of money laundering; 9.3. Ensure that the Compliance Officer has reasonable access to any other information which may be of assistance in the determination as to whether or not a suspicious transaction report is to be filed;

In this regard, the covered institution should exercise due diligence by implementing adequate systems for identifying and detecting suspicious transactions.

9.3.5 Require that, upon determination of the suspicious nature of the report, the information contained therein is disclosed promptly to the AMLC;

Suspicious transactions are likely to involve a number of factors which together raise a suspicion in the mind of the covered institution that the transaction may be connected with any unlawful activity.

9.3.6 Maintain a register of all reports filed pursuant to Sections 7.7, 7.8 and Section 7.9 above.

Section 7.5. Transaction Reporting. – Covered institutions shall report to the AMLC all covered transactions and suspicious transactions within five (5) working days, unless the AMLC prescribes a different period not exceeding fifteen (15) working days, from the occurrence thereof. For suspicious transactions, “occurrence” refers to the date of determination of the suspicious nature of the transaction, which determination should be made not exceeding ten (10) calendar days from the date of transaction. However, if the transaction is in any way related to, or the person transacting is involved in or connected to, an unlawful activity or money laundering offense, the 10-day period for determination shall be reckoned from the date the covered institution knew or should have known the suspicious transaction indicator. Section 7.6. Transactions that are Both Covered and Suspicious. – Should a transaction be determined to be both a covered and a suspicious transaction, the covered institution shall report the same as a suspicious transaction. Section 7.7. Attempted Suspicious Transactions. – Covered persons shall likewise file STR for suspicious attempted transactions. An attempted transaction is one that a client intended to conduct and made overt acts to do so. Such overt acts include entering into negotiations or discussions to conduct the transaction and involves definite measures to be undertaken by the SEC covered institution or the client. In order for an attempted transaction to be reported as an attempted suspicious transaction, there must be reasonable grounds to suspect that said attempted transaction is related to money laundering or terrorist financing or when any of the circumstances enumerated in Section 7.4 hereof exists. Section 7.8. Reporting of Customer’s Unlawful Activities. – Where any employee or personnel, director or officer of the covered institution knows that the client has engaged in any of the unlawful activities under the AMLA, the matter must be promptly reported to its Compliance Officer who, in turn, must immediately report the details to the AMLC. If there is reasonable ground to suspect that the customer has engaged in an unlawful activity, the Compliance Officer, on receiving such a report, must promptly evaluate whether there are reasonable grounds for such belief and must then immediately report the case to the AMLC, unless he considers, and records an opinion, that such reasonable grounds do not exist. Section 7.9. Register of Suspicious and Covered Transactions. – Each covered institution shall maintain a register of all suspicious transactions that have been brought to the attention of its Compliance Officer, including transactions that are not reported to the AMLC. Each covered institution shall likewise maintain a register of all covered transactions which are not reported to the AMLC pursuant to AMLC Resolution No. 292, Series of 2003. The registers shall contain details of the date on which the report is made, the person who made the report to its Compliance Officer, and information sufficient to identify the relevant papers related to said reports. Section 7.10. Confidentiality of CTR and STR. – Covered institutions, their directors, officers and employees, shall not warn their customers that information relating to them has been reported or is in the process of being reported to the AMLC, or communicate, directly or indirectly, such information to any person other than the AMLC. Any violation of this confidentiality provision shall render them liable for criminal, civil and administrative sanctions under the AMLA. When reporting CTs and STs to the AMLC, covered institutions, their directors, officers and employees, are prohibited from communicating, directly or indirectly, in any manner or by any means, to any person or entity, or the media, the fact that a covered or suspicious transaction report was made, the contents thereof, or any other information in relation thereto. Any information about such reporting shall not be published or aired, in any manner or form, by the mass media, or through electronic mail, or other similar devices. In case of violation thereof, the concerned officer and employee of the covered institution shall be criminally liable in accordance with the provision of the AMLA, as amended. Covered institutions, their directors, officers and employees, shall not notify their customers that information relating to them has been flagged internally with a view toward making a determination as to whether to file a ST, or communicate, directly or indirectly, such information to any person other than the AMLC. Section 7.11. Safe Harbor Provision. – No administrative, criminal or civil proceedings shall lie against any person for having made a suspicious or covered transaction report in the regular performance of his duties and in good faith, whether or not such reporting results in any criminal prosecution under the AMLA or any other Philippine law. Covered institutions, its directors and employees shall likewise not be liable for any loss arising out of such disclosure, or any act or omission, in relation to the fund, property or investment in consequence of the disclosure, where such is made in good faith and in the regular performance of their duties under the Act. CHAPTER 8 COMPLIANCE Section 8.1. The Compliance Officer. – Each covered institution shall appoint a senior officer as the Compliance Officer who will be in charge of the implementation of its Operating Manual and the application of the internal programs and procedures, including customer identification policies and procedures, proper maintenance of records, reporting of covered and suspicious transactions to the AMLC, and training of employees. Unless otherwise provided in its Operating Manual, the registered Associated Person of covered institution covered by the SRC shall also be the Compliance Officer as contemplated herein. A Compliance Officer shall be: 1.

A senior officer with relevant qualifications and experience to enable him to respond sufficiently well to inquiries relating to the relevant person and the conduct of its business; 2. Responsible for establishing and maintaining a manual of compliance procedures in relation to the business of the covered institution; 3. Responsible for ensuring compliance by the staff of the covered institution with the provisions of the AMLA, as amended, its Implementing Rules and Regulations, and the covered institution’s manual of compliance Procedures established under Section 9.2 (b); 4. Responsible for disseminating to its board, officers and all employees memorandum circulars, resolutions, instructions, and policies issued by the AMLC and by the Commission in all matters relating to the prevention of money laundering; 5. The liaison between covered institution and the AMLC in matters relating to compliance with the provisions of the AMLA and its Implementing Rules and Regulations; 6. Responsible for the preparation and submission to the AMLC written reports on the covered institutions’ compliance with the provisions of the AMLA and its Implementing Rules and Regulations, in such form as the AMLC may determine, and within such period as the Commission may allow in accordance with the AMLA, as amended; 7. Responsible for organizing training sessions for the staff on issues related to AML/CFT compliance, including providing guidance to the staff on how to avoid “tipping off” if any ST is filed or if any transaction or set of circumstances is flagged internally as potentially suspicious; 8. Responsible for analyzing transactions to determine whether any are subject to reporting according to the indicators of suspicious transactions mentioned in the AMLA, relevant SEC regulations and this Guideline, and undertaking closer investigation of transactions when necessary; 9. Responsible for reviewing all internal reports of potentially suspicious transactions for their completeness and accuracy; 10. Responsible for preparing STRs and ensuring their timely filing with the AMLC; 11. Responsible for keeping records of internally and externally reported suspicious transactions; 12. Responsible for remaining informed of the national and international developments on money laundering and terrorist financing and making suggestions to the board of directors and management for upgrading the institution’s policies and procedures in light of these developments; and 13. Responsible for periodically reporting information on the institution’s efforts to combat money laundering and terrorist financing to the board, and recommending changes in the institution’s policies or procedures when deemed necessary.

CHAPTER 10 INTERNAL AUDIT Section 10.1. Internal Audit Function and Reporting Line. – The internal audit function associated with money laundering and terrorist financing should be conducted by qualified personnel who are independent of the office being audited. It must have the support of the board of directors and senior management and have a direct reporting line to the board or a board-level audit committee. Section 10.2. Frequency and Scope of Internal Audit. – The internal audit shall be responsible for the periodic (not less frequently than once every 2 years) and independent evaluation of the risk management, degree of adherence to internal control mechanisms related to the customer identification process, such as the determination of the existence of customers and the completeness of the minimum information and/or documents establishing the true and full identity of, and the extent and standard of due diligence applied to, customers, CT and ST reporting and record keeping and retention, as well as the adequacy and effectiveness of other existing internal controls associated with money laundering and terrorist financing. Section 10.3. Electronic AML/CFT Monitoring System. – For covered institutions with electronic AML/CFT transaction monitoring system, in addition to the above, the internal audit shall include determination of the efficiency of the system’s functionalities. Section 10.4. Reporting of Internal Audit Findings. – The results of the internal audit shall be timely communicated to the board of directors and shall be open for scrutiny by SEC examiners in the course of the regular or special examination without prejudice to the conduct of its own evaluation whenever necessary. Results of the audit shall likewise be promptly communicated to the Compliance Office for appropriate monitoring of corrective actions taken by the different business units concerned. The Compliance Office shall regularly submit reports to the board to inform them of management’s action to address deficiencies noted in the audit. Section 10.5. Outsourcing of Internal Audit Functions/External Audit. – A covered institution may, due to the scale and nature of their operations, assign the internal audit function to another person (e.g. professional association, parent company or external auditors) under terms of reference approved by the institution’s board of directors designed to ensure the effectiveness of the internal audit function. Where a covered institution delegates its responsibilities for internal audit, due diligence is to be exercised to ensure that the persons appointed are able to perform these functions effectively and the fact of such appointment must be relayed in writing to the Commission and to AMLC. Notwithstanding that the internal audit function may be outsourced, the covered institution’s board of directors remains responsible for its effective operation. CHAPTER 11 TRAINING Section 11.1. Education and Continuing Training. – The covered institution shall provide education and continuing training for all its staff and personnel, including directors and officers, to ensure that they are fully aware of their personal obligations and responsibilities in combating money laundering and to be familiar with its system for reporting and investigating suspicious matters. Section 11.2. Outsourcing of Training Functions/External Training Providers. – A covered institution may, due to the scale and nature of their operations, assign the training functions to another person (e.g. professional association, parent company or external training provider). Where a covered institution delegates its responsibilities for training, due diligence is to be exercised to ensure that the persons appointed are able to perform these functions effectively and the fact of such appointment must be relayed in writing to the Commission and to AMLC. Notwithstanding that the training function may be outsourced, the covered institution’s board of directors remains responsible for the effective operation of the training program. Section 11.3. Recommended Training Programs. – Timing and content of training for various sectors of staff will need to be adapted by the covered institution to its own needs. The following training programs are recommended: 11.3.1 New Staff A general appreciation of the background to money laundering, the need to be able to identify suspicious transactions and report such transactions to the appropriate designated point within the covered institution. This training shall be provided to all new employees, regardless of level of seniority. 11.3.2 Cashiers/Dealers’ Representatives Representatives/Advisory Staff Personnel who deal directly with the clients are the first point of contact with potential money launderers. Their efforts are therefore vital to the covered institutions’ reporting system for such transactions. They should be trained to identify suspicious transactions and on the procedure to be adopted when a transaction is deemed to be suspicious. “Front Line” staff should be made aware of the covered institution’s policy for dealing with non-regular customers particularly where large cash transactions are involved, and the need for extra vigilance in cases under suspicious circumstances. 11.3.3 Supervisors and Managers A higher level of instruction covering all aspects of money laundering procedures should be provided to supervisors and managers. This will include the offences and penalties arising from the AMLA, procedures relating to service of production and restraint orders, internal reporting procedures, and the requirements for verification of identity and the retention of records. Section 11.4. Regular Refresher Training. – Covered institutions shall, at least once a year, make arrangements for refresher training to remind key staff of their responsibilities and to make them aware of any changes in the laws and rules relating to money laundering, as well as the internal procedures of the covered institution. Section 11.5. Training Program and Records of Trainings Conducted. – Each covered institution’s annual AML training program and records of all AML seminars and trainings conducted by the covered institution and/or attended by its personnel (internal or external), including copies of AML seminar/training materials, shall be appropriately kept by the Compliance Officer/unit/department, and made available during periodic or special SEC examinations and to self-regulatory organizations (SROs) of covered institutions, if applicable. Section 11.6. Cascading of Updates and New Requirements. – Covered institutions shall ensure that all relevant personnel are informed in a timely manner of any new provisions, updates or changes in laws, as well as new, amended or updated Commission rules, regulations, guidelines and circulars relating to money laundering and/or terrorist financing, and the internal procedures of the covered institutions based on any of the foregoing Training on any such new provisions, amendments, updates or changes shall be provided as necessary. CHAPTER 12 SANCTIONS AND PENALTIES Section 12.1. Sanctions and Penalties. – Any violation of the requirements set forth in these Guidelines shall be considered as a violation of the Rules, Regulations or Orders promulgated by the Commission, and shall be penalized in accordance with Section 54.1(a) in relation to Section 54.1(a)(i), (ii) and (v) of the Securities Regulations Code without prejudice to the penalties that may be imposed by the AMLC RIRR. Accordingly, the Commission may impose any or all of the following sanctions as may be appropriate in the light of the facts and circumstances: (i) Suspension or revocation of any registration for the offering of securities; (ii) A fine of no less than Ten Thousand Pesos (Php10,000.00) nor more than One Million Pesos (Php 1,000,000.00) plus not more than Two Thousand Pesos (Php 2,000.00) for each day of continuing violation; (iii) Other penalties within the power of the Commission to impose. Section 12.2. Criminal Actions and Criminal Liability. – The imposition of the foregoing administrative sanctions shall be without prejudice to the filing of criminal charges against the individuals responsible for the violation, in accordance with Section 54.2 in relation to Section 73 of the Securities Regulations Code. Section 12.3. Manner of Imposition of Penalties. – The penalties shall be imposed in a manner that is effective, proportionate and dissuasive. (MS-NOV. 8, 2018)

CYAN MAGENTA YELLOW BLACK

CYAN MAGENTA YELLOW BLACK THURSDAY, NOVEMBER 8, 2018

Manila

Standard

TODAY Blacklisted

SEC MEMORANDUM CIRCULAR NO.15 Series of 2018 : NON-STOCK CORPORATIONS, FOUNDATIONS AND OTHER NONPROFIT ORGANIZATIONS

SUBJECT : GUIDELINES FOR THE PROTECTION OF SEC REGISTERED NONPROFIT ORGANIZATIONS FROM MONEY LAUNDERING AND TERRORIST FINANCING ABUSE (“NPO Guidelines”) ************************************************************************************************** CHAPTER I INTRODUCTION, SCOPEAND DEFINITIONS Section 1.1. The Commission issues and adopts these Guidelines to protect Non-Profit Organizations (“NPOs”)from money laundering and terrorist financing abuse, enhance its registration and monitoring system in order to obtain the necessary information on NPOs for regulatory and risk assessment purposes,and provide additional measures pursuant to its regulatory and supervisory powers under the Corporation Code of the Philippines (Batas PambansaBlg. 68), the Securities Regulation Code (RA No. 8799), and other pertinent laws, rules and regulations administered and enforced by the Commission. Section 1.2. Scope.These Guidelines apply to all Non-Stock Corporations registered with the Commission as well as to any Applicant. Section 1.3.Definition of Terms. Except as otherwise defined herein, all terms used shall have the same meaning as those terms that are defined in the Corporation Code of the Philippines and other related laws as well as issuances by the Commission. 1.3.1.

“Applicant” – refers to the organization/entity applying for registration with the Commission as a Non-Stock Corporationand anyregistered corporation applying for amendment to its Articles of Incorporation in order to become a Non-Stock Corporation.

1.3.2.

“COEP” – refers to the “Certificate of Existence of Program/Activity,” in accordance with the relevant guidelines prescribed by the Commission.

1.3.3.

“Commission”–refers to the Securities and Exchange Commission.

1.3.4.

“Foundation”–refers to a non-stock, non-profit corporation established for the purpose of extending grants or endowments to support its goals and/ or raising funds to accomplish charitable, religious, educational, athletic, cultural, literary, scientific, social welfare or other similar objectives. “Non-Stock Corporation”– refers to a corporation with no authorized capital stock and no part of its income is distributable as dividends to its members, trustees, or officers.

1.3.5.

1.3.6.

“Non-Profit Organization” (“NPO”) – refers to an SEC registered NonStock Corporation that primarily engages in raising or disbursing funds for purposes such as charitable, religious, cultural, educational, social or fraternal purposes, or for the carrying out of other types of good works. For purposes of these Guidelines, NPOs shall include Foundations as well as other SEC registered Non-Stock Corporations engaged in the abovementioned activities.

1.3.7.

“NPO at Risk” – refers to an NPO classified as medium orhigh risk based on an assessment of the risk factors as stated in Section 4.2, Chapter IV of these Guidelines or in accordance with a risk-based points system that may be developed by the Commission.The Commission may consider such other factors as it may deem material in the assessment of an NPO’s risk level.

1.3.8.

“Politically Exposed Person”(“PEP”)–refers to an individual who is or has been entrusted with a prominent public position/function in: a)

the Philippines with substantial authority over policy, operations or the use or allocation of government-owned resources; a foreign state, or an international organization.

b) c)

It shall be presumed that a person who has been entrusted with a prominent public position/function as referenced above shall continue to be considered a PEP, even if he or she no longer holds such a position, unless it is clearly shown otherwise. The term “PEP” shall include immediate family members, and close relationships and associates that are reputedly known to have: (1) joint beneficial ownership of a legal entity or legal arrangement with the main/principal PEP, or; (2) sole beneficial ownership of a legal entity or legal arrangement that is known to exist for the benefit of the main/ principal PEP. Immediate family members of PEPs refer to spouse or partner, children and their spouses, parents and parents-in-law, and siblings; Close Associatesof PEPs refers to persons who maintain a particularly close relationship with the PEP, and include persons who are in a position to conduct substantial domestic and international financial transactions on behalf of the PEP. Close Associates may include: (1) beneficial owners of a legal entity or legal arrangement that is known to exist for the benefit of the main/ principal PEP; (2) business partners or associates, especially those that share beneficial ownership of legal entities or legal arrangements with the PEP; (3) persons who are otherwise connected to the PEP (e.g., through joint membership of a company board); (4) prominent members of the same political party, civil organization, labor or employee union as the PEP; (5) persons (sexual and/or romantic) partners outside the family unit (e.g. girlfriends, boyfriends, mistresses, etc.). 1.3.9.

“SS”–refers to the “Sworn Statement by the President and Treasurer of the Sources, Amount, and Application of Funds and Program/Activity Planned, Ongoing, and Accomplished,” in accordance with the relevant guidelines and format prescribed by the Commission.

1.3.10. “UN Sanctions List” – refers to the Consolidated United Nations Security Council Sanctions List of countries, persons and/or entities, including all subsequent updates and/or amendments thereto by the United Nations Security Council.

Section 2.2. following: 1.

CHAPTER IV MANDATORY DISCLOSURES FOR ALL SEC REGISTERED NON-STOCK CORPORATIONS Section 4.1. All SECregistered Non-Stock Corporations shall, within six (6) months from the effective date of these Guidelines, submit the required information listed in Annex “A”to the Commission through the respective Operating Departments having supervision over such Non-Stock Corporations copy furnished the Anti-Money Laundering Division (AMLD) of the Enforcement and Investor Protection Department (EIPD). Failure to comply with the requirements of this Chapter is a cause for revocation of the registration of the non-complying Non-Stock Corporation. Section 4.2. The following basic information, if applicable, shall be required from all SECregistered Non-Stock Corporations, to wit: a) b) c) d) e) f) g) h) i) j) k) l)

2. 3.

Section 2.3. The Commission shall ensure that the focused measures to be applied in protecting NPOs from terrorist financing abuse do not unduly disrupt or discourage legitimate charitable activities. Such measures should promote accountability and engender greater confidence among NPOs across the donor communities and with the general public that charitable funds and services reach intended legitimate beneficiaries. Section 2.4. In the event that the Commission identifies certain NPOs as being at risk, it shall adopt enhanced monitoring and supervision measures and require said NPOs the enhanced compliance requirements stated under Section 3.1 of these Guidelines. Section 2.5. The level of risk of NPOs as well as the NPOs at Risk will be periodically reassessed, as may be necessary based on risk and materiality, to identify vulnerabilities and ensure effective implementation of measures prescribed throughout these Guidelines. The Commission shall ensure that the affected NPO is notified of any subsequent changes in its risk assessment, by way of a notification letter, show cause order, or some other manner the Commission deems fit.

CHAPTER V GOOD GOVERNANCE SYSTEM Section 5.1. To promote accountability, integrity, and public confidence in the administration and management of NPOs, the Commission hereby adopts the following policieson good governance which shall apply toall NPOs as defined herein. Section 5.2. The following are characteristics of a good governance system in anNPO: 5.2.1. Organizational integrity – The board of trustees maintains oversight over the organization by establishing strong financial and human resource policies, meeting on a regular basis, and actively monitoring activities. 5.2.2. Partner relationships –The board of trustees ensures that proper due diligence is carried outon individuals and organizations that (a) donate money or funds (i.e., donors), (b) receive money (i.e., beneficiaries) or (c) work closely with the NPO, through the use of selection criteria and searches of publicly available information, including domestic blacklists and UN sanctions lists. The board of trustees may execute agreements to outline the expectations and responsibilities with partners, including detailed information as to the application of funds and compliance with requirements for regular reporting, audits and on-site visits. 5.2.3. Financial accountability and transparency – The board of trustees approves an annual budget and follows a process to monitor the use of funds. The board of trustees also mandates that its NPO keep adequate and complete financial records of income, expenses, and financial transactions throughout its operations, including with respect to the use of its funds. NPOs clearly state program goals when collecting funds, and ensure that funds are applied as intended and consistent with the purpose of the organization. Information about the activities of the NPOs shall be madepublicly available. NPOs are informed as to the sources of their donations and establish criteria to determine whether donations should be accepted or refused. 5.2.4. Record keeping- The board of trustees mandates its NPOs tomaintain, for a period of at least five years, records of domestic and international transactions that are sufficiently detailed to verify that funds have been received and spent in a manner consistent with the purpose and objectives of the organization, and to make these available to the Commission. 5.2.5. Program planning and monitoring – The board of trustees requires its NPO to establish appropriate internal controls and monitoring systems to ensure that funds and services are being used as intended. CHAPTER VI INTERNAL AUDIT SYSTEM Section 6.1. To strengthen adherence to good governance principles and to ensure a high standard of best practice for the NPO and its members, the board of trustees must conduct itself with honesty, integrity and competence in the performance of its duties and functions. Such good governance principles and best practices shall include the establishment of an audit committee, or the appointment of a responsible officer or employee, whose responsibility is to perform the audit functions as described below. If an audit committee is established, it shall consist of at least three (3) trustees who shall preferably have accounting and/or finance backgrounds and/or with audit experience. Similarly, the appointed officer or employee to perform such audit function shall preferably have the same qualifications.

Section 3.1. The levels of risk, together with their corresponding compliance requirements, are as follows: Risk Rating Low Risk

Compliance Requirements 1. 2.

Medium Risk

3. 1.

3. 4. High Risk

1. 2. 3.

Reportorial requirements: • General Information Sheet • Annual Financial Statements Duly filled up membership book to be available for inspection by the Commission; and Other minimum requirements based on current law and SEC rules. Same compliance requirements as Low Risk except as to Annual Financial Statements which are required to be audited by an independent certified public accountant accredited by the Board of Accountancy; Additional requirements: • Sworn Statement of Sources, Amount, and Application of Funds and Program/Activity Planned and Accomplished (SS) • Certificate of Existence of Program/Activity (COEP) Establishment of an internal audit system; and Mandatory attendance in sustained outreach program of the Commission Same compliance requirements as Medium Risk; Mandatory background checks of the officers and trustees; and Mandatory audit by the Commission of the NPO concerned.

of attendance therein shall be in the form of a certificate duly issued by the Commission. Such proof of attendance shall be kept by the NPO at their principal office and must be presented to representatives of the Commission during the course of their audit/ inspection. CHAPTER VIII PREVENTIVE MEASURES Section 8.1. NPOs shall establish and record the true and full identity of their donors/ sources of funds identified as PEPs under Section 1.3.8. In case of domestic PEPs or persons who have been entrusted with a prominent function by an international organization, NPOs shall: a. b.

Assist the board of trustees in the performance of its oversight responsibility for the financial reporting process, system of internal control, audit process, and monitoring of compliance with applicable laws, rules and regulations, including but not limited to registration requirements, compliance requirements, record-keeping requirements, monitoring system controls, procedures for investigating infractions, and sanctions for violations;

Provide oversight over management’s activities in managing credit, liquidity, operational, legal and other risks of the NPO, whereby it shall regularly endeavor to receive information on risk exposures and risk management activities;

Perform oversight functions over the NPO’s internal auditors and effectively coordinate with its external auditors and ensure that the internal and external auditors act independently from each other, whereby both auditors are given unrestricted access to all records, properties and personnel to enable them to perform their respective audit functions;

Review the annual internal audit plan to ensure its conformity with the purpose of the NPO, whereby such plan shall include the budget necessary to implement it;

Discuss with the external auditor the nature, scope and expenses of the audit, prior to commencement of the audit;

Monitor and evaluate the adequacy and effectiveness of the NPO’s internal control system, including financial reporting control and information technology security;

Review the reports submitted by the internal auditors, including the audited financial statements of the NPO that should have been written and reviewed by an external auditor accredited by the Board of Accountancy;

Review the quarterly, half-year and annual financial statements before their submission to the board of trustees, with particular focus on compliance with accepted accounting standards, tax, legal and regulatory requirements; and

Coordinate, monitor and facilitate compliance with applicable laws, rules and regulations.

Take reasonable measures to determine whether the donor is a PEP; and In cases when there is a higher risk relationship, adopt measures (b) to (e) below.

In relation to foreign PEPs, NPOs shall: a. b. c. d. e.

Put in place risk management systems to determine whether the donor is a PEP; Obtain senior management approval before establishing (or continuing, for existing donors) such relationship; Take reasonable measures to establish the source of wealth and the source of funds of donors identified as PEPs; Conduct enhanced ongoing monitoring on that relationship; and Institute reasonable measures to ensure that the NPO’s funds are disbursed to the declared beneficiaries and/or used for the project/s stated in the SS and COEP.

Section 8.2. Donors from a foreign jurisdiction that is recognized as having inadequate internationally accepted Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) standards, or presents greater risk for money laundering/terrorist financing, shall be subject to enhanced monitoring by the NPOs. Section 8.3. For the purpose of protecting themselves from money laundering and terrorist financing abuse, all NPOs shall adopt the following preventive measures: 1. 2. 3. 4.

Establish a system that will enable them to know who their donors are and where the funds are coming from; Ensure that they know who their beneficiaries are and where they are located; Ensure that the funds actually reach their target beneficiaries or that they are used for the purpose intended; and Report to the Commission any fact within its knowledge that gives rise to a suspicion that such NPO is being exploited for money laundering and/or terrorist financing purposes. CHAPTER IX COORDINATION AND INFORMATION SHARING

Section 9.1. In connection with the NPOs at Risk, the Commission will pursue and implement effective cooperation and coordination through, among others, information and resource sharing, with law enforcement agencies and other government agencies, such as the Philippine National Police, National Bureau of Investigation, Department of Social Welfare and Development, Anti-Money Laundering Council, Insurance Commission, Department of Justice, and Office of the Ombudsman. Section 9.2. The Commission mayenter into agreement/s with NPO self-regulatory organizations and other private organizations for the purpose of cooperation, coordination and information sharing. Section 9.3. The Commission shall establish an effective capacity to respond to international requests for information about an NPO of concern in accordance with existing laws and the rules and regulations of the Commission and the Anti-Money Laundering Council. CHAPTER X INVESTIGATION AND INFORMATION GATHERING Section 10.1.The Commission may, in its discretion,conduct such investigation as it may deem necessary to determine whether any personhas violated or is about to violate the mandatory provisions of these Guidelines or any NPO is being abused for money laundering or terrorist financing purposes in violation of its franchise. For the purpose of such investigation, the Commission, or any officer designated by it, is empowered to administer oaths and affirmations, subpoena witnesses, compel attendance, take evidence, require the production of any book, paper, correspondence, memorandum, or other record which the Commission deems relevant or material to the inquiry, and to perform such other acts necessary in the conduct of such investigation or proceedings. Section 10.2.For the purpose of conducting such investigations and gathering of information, it may enlist the aid and support and/or deputize any and all enforcement agencies of the Government of the Republic of the Philippines, civil or military as well as any private institution, corporation, firm, association or person. CHAPTER XI ENHANCED REGISTRATION AND MONITORING SYSTEM The Commission’s registration and monitoring system, as regards Non-Stock Corporations, shall be evaluated, reviewed, modified and updated in accordance with the principles, policies and procedures provided in these Guidelines. CHAPTER XII PENALTIES Section 12.1.The penalties and sanctions provided for under current laws, SEC M.C. No. 8, series of 2009 entitled Scale of Fines for Non-Compliance with the Financial Reporting Requirements of the Commission, SEC M.C. No. 8, series of 2006 on the Revised Guidelines on Foundations, as amended,and other issuances ofthe Commission are hereby adopted and incorporated into these Guidelines, insofar as they are applicable. Section 12.2. If, after due notice and hearing, the Commission finds that: a) b)

Section 6.2. The functions of the audit committee or the officer or employee appointed to perform the audit functions include the following:

Applicants applying for an amendment of their articles of incorporation in accordance with the current rules and procedures of the Commission will be subject to a reassessment of risk as described in the previous paragraph. CHAPTER III COMPLIANCE REQUIREMENTS

Objectives and purpose of their stated activities; Identity of the person(s) who own, control or direct their activities, including senior officers, board members and trustees; Nature of operations or projects; Actual raising or disbursing of funds for charitable, religious, cultural, educational, social or fraternal purposes, or for the carrying out of other types of “good works;” Contribution; Fund Balance; Location of operations which shall include the (i) head office or branches, if any, (ii) location of beneficiaries/projects, and (iii) other areas of operation/activity, if any; Source of Funds (as to person); Source of Funds (as to geography) Intended beneficiaries (as to person); Intended beneficiaries (as to geography); and Existing license/accreditation from another government agency.

Section 4.3. The Information and Communications Technology Department (ICTD) of the Commission shall maintain an updated database of Non-Stock Corporations with the information required to be submitted under these Guidelines. Such database shall be made accessible to the EIPD-AMLD and the respective Operating Departments having supervision over such Non-Stock Corporations.

The risk-based approach for the protection of NPOs shall include the Identifying threats of terrorist financing abuse based on the results of the national risk assessment of the Anti-Money Laundering Council; Identifying vulnerabilities among NPOs based on the types and characteristic features of such NPOs; and Identifying the consequences of such threats and vulnerabilities on NPOs.

Registration will be denied outright. If the Non-Stock Corporation or NPO is blacklisted subsequent to its registration, the process of revocation of registration will be initiated and publicized, subject to notification and grace period for compliance granted by the Commission to the relevant Non-Stock Corporation or NPO.

Section 3.2. The Commission may require the submission of such other document/s as it may determine, in its discretion, to be necessary to properly assess the risk of NPOs being abused for the purpose of money laundering or terrorist financing and to protect NPOs from such risk.

CHAPTER II RISK ASSESSMENT Section 2.1. In order to ensure that NPOs are not misused by terrorist organizations: (i) to pose as legitimate entities; (ii) to exploit legitimate entities as conduits for terrorist financing, including for the purpose of escaping asset freezing measures; or (iii) to conceal or obscure the clandestine diversion of funds intended for legitimate purposes, but diverted for terrorist purposes, the Commission adopts a risk-based approach in applying focused measures in dealing with identified threats of terrorist financing abuse to NPOs.

• •

There is a willful violation of these Guidelines or related orders of the Commission; Any person has, in applications, accounts, records or documents required under these Guidelines to be filed with the Commission, made any untrue statement of a material fact, or omitted to state any material fact required to be stated or necessary to make the statements therein not misleading; or Any person has refused to permit any lawful examinations into its affairs,

the Commission may, in its discretion, and subject to existing laws and regulations, impose any or all of the following sanctions as may be appropriate in light of the facts and circumstances: (i)

Fine of no less than Ten Thousand Pesos (PhP10,000) nor more than One Million Pesos (PhP1,000,000) plus not more than Two Thousand Pesos (PhP2,000) for each day of continuing violation; (ii) Revocation of registration of a Non-Stock Corporation or NPO if there is a high risk of money laundering or terrorist financing abuse within such Non-Stock Corporation or NPO; and (iii) Other penalties within the power of the Commission to impose. In imposing the foregoing penalties, the Commission shall be guided by the principles of effectiveness, dissuasiveness and proportionality. Section 12.3. Without prejudice to the penalties provided above, any violation of Republic Act No. 10168, otherwise known as the Terrorism Prevention and Suppression Act of 2012, its implementing rules and regulations and related issuances shall be a ground for the revocation of the NPO’s certificate of registration. Section 12.4. The NPO’s certificate of registration shall also be revoked if the trustees and/or officers of said NPO had knowingly allowed it to be used or used the organization for money laundering or terrorist financing purposes. CHAPTER XIII AMENDMENT/REPEAL All rules, regulations, orders, circulars and issuances of the Commission that are inconsistent with this memorandum circular are hereby amended and/or repealed accordingly. CHAPTER XIV EFFECTIVITY This Memorandum Circular shall take effect fifteen (15) days after its publication in two (2) national newspapers of general circulation and its posting in the Commission’s website. Pasay City, Philippines, ____7____ November 2018. FOR THE COMMISSION:

CHAPTER VII SUSTAINED OUTREACH PROGRAMS AND SEMINARS Section 7.1. Pursuant to its regulatory and supervisory powers, the Commission will conduct, at least once a year, regular sustained outreach/consultation programs, awareness training and workshops on money laundering and/or terrorist financing issues, vulnerabilities, and risks as well as practical and effective mitigation measures. Such programs and seminars will include discussions regarding regulatory compliance, good governance principles, internal control system development, accountability procedures and financial controls, as well as risk management for NPOs. In connection with this, the Commission may undertake to do any or all of the following: a)

b) c)

EMILIO B. AQUINO Chairperson “ANNEX A” MANDATORY DISCLOSURES FOR SEC REGISTERED NON-STOCK CORPORATIONS

Coordinate and partner with other networks of Non-Stock Corporations, NPOs or similar umbrella organizations (e.g., Caucus of Development NGO Networks, Philippine Council for NGO Certification, donor organizations, Association of Foundations, League of Corporation Foundations, etc.) and other government agencies (e.g., local government units, Department of Social Welfare and Development, National Bureau of Investigation, Philippine National Police, universities, colleges, etc.) to implement such outreach programs and seminars;

Pursuant to its regulatory powers under the Corporation Code and the Securities Regulation Code, the Commission, in its effortsto combat money laundering and terrorist financing, deems it necessary to require additional information from existing SEC registered Non-Stock Corporations.

Provide, through its website, public access to the materials used in these outreach programs and seminars; Consider, as part of its awareness program, to regularly upload to its website the latest information on the foregoing subject matters of such outreach programs and seminars, including information campaigns, brochures, manuals, pamphlets, articles and frequently asked questions.

INSTRUCTIONS:Do not leave any blanks unfilled. If an item is not applicable, please note this as “N/A.” An incomplete submission will be deemed as failure of submission and hence a violation of Section 4.1 of these Guidelines which provides for revocation of registration of the Non-Stock Corporation.

Section 7.2. The trustees, officers, and/or responsible representatives of NPOs at Risk are required to attend and/or participate in such outreach programs and seminars. Proof

In this regard, the President or any other officer duly authorized under a board resolution is hereby mandated to accomplish the following form by supplying all the information required herein.

I. Mandatory Information Please check all that apply or supply the requested information:

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Jimbo Owen Gulle, Editor lgu@manilastandard.net editor.lgustandard@gmail.com

thursday, november 8, 2018

LGUs

SBMA anti-littering task force formed Manila

Standard

TODAY

By Butch Gunio SUBIC BAY FREEPORT—The Subic Bay Metropolitan Authority has created an anti-littering task force to effectively implement its no-littering policy and has set fines to discourage violations. SBMA Chairman and Administrator Wilma T. Eisma said the agency has begun enforcing a policy that prohibits littering, and dumping or throwing of garbage, rubbish or any kind of waste in parks, roads, beach, forests, rivers, streams or on any open or public place in the Subic Bay Freeport. It is also illegal under the policy for anybody to urinate, defecate, dispose of cigarette butts, or spit in public places. To ensure the effective implementation of the no-littering policy, the SBMA chief issued an order creating the SBMA Anti-Littering Task Force, which is manned by marshals from the SBMA Ecology Center, Law Enforcement Department, Maintenance and Transportation Department, and Tourism Department. Eisma said these personnel are deputized to apprehend violators and recommend issuance of Notice of Violation (NoV) to any Subic Bay Freeport Zone establishment caught violating the policy. She also said the agency has imposed a fine of P1,500 and four hours of community service for individual offenders and pet handlers found violating the policy.

LocaL government units

Traffic enforcer trainee surrenders to Mayor Binay By Joel E. Zurbano ThE Makati City traffic enforcement trainee tagged one of the suspects in the motorcycle theft at the parking space of Ayala Mall Circuit on Nov. 2 surrendered to Mayor Abigail Binay on Wednesday. Noel Natividad Jr., a 23-year old trainee of the Makati Public Safety Department (formerly MAPSA auxiliary corps), surrendered to Mayor Binay four days after his accomplices Apollo Bartolome was arrested by the Makati City police. Binay said she was glad that Natividad has come forward to face the charges and submitted himself to due process. The mayor said it was unfortunate the incident, which was shown on national television, was disheartening to hundreds of his fellow trainees who have been undergoing very rigorous training. Binay also said she hoped it will serve as a lesson and remind them that the city government does not tolerate illegal activities, especially among those who are supposed to enforce the law. Natividad was identified by Apollo Bartolome, an employee of an establishment inside the mall, as his alleged cohort. Natividad was caught on closedcircuit television camera video footage walking with him to the parking area, and then driving out on board the stolen motorcycle last Saturday. Makati City police commander Rogelio Simon and PSD officer-incharge Enrico Bautista accompanied Natividad when he surrendered to Mayor Binay. Simon said Natividad was being taken into police custody for processing and for obtaining his statement. A.

CEZA LOCATOR. Secretary Raul L. Lambino (second from right), Cagayan Economic Zone Authority Administrator and CEO, Safe Zone Philko Trading Corp. Chairman Jung Hwan-Soon (right), and GL Tech Chairman Kang Byung-Gi (second from left) show the Memorandum of Understanding documents they signed at the CEZA main office in Mandaluyong City. The Korean firm aims to establish a factory for parts and goods assembly in the world’s highest efficiency solar and super power saving LED devices at the Cagayan Special Economic Zone and Freeport in Sta Ana, Cagayan. Also in photo is CEZA Deputy Administrator Raymundo T. Roquero (left). Joseph Muego

Responsible mining code eyed in ARMM

By Nash B. Maulana

OTABATO CITY―The Autonomous Region in Muslim Mindanao is endorsing a code for responsible mining to guide the incoming Bangsamoro ARMM administration on the exploration of the region’s natural resources. ARMM Executive Secretary Laisa Alamia described the proposed mining code as one that is “even better than the existing Philippine Mining Act (Republic Act 7942).” Department of Environment and Natural Resources-ARMM Secretary hadji Kahal Kedtag raised this during ceremonies at the Gawad Kalikasan 2018 on Tuesday, even as he cited the i.

Area or location of operations/activities:

As to person/entity (Please check all that apply) Private individual in the Philippines Private individual outside the Philippines Public officer of the Philippine government Public officer of a foreign government Politically Exposed Person or PEP Close Associate (domestic or foreign) o Philippine national government o Philippine local government o Foreign government o Private institution/business/company in the Philippines o Private institution/business/company outside the Philippines o Philippine government financial institution o Foreign government financial institution or their equivalent o Philippine government owned and controlled corporations o Foreign government owned and controlled corporations or their equivalent o Bank for International Settlements (BIS) o European Central Bank (ECB) o Food and Agriculture Organization of the United Nations (FAO) o International Labor Organization (ILO) o International Monetary Fund (IMF) o International Telecommunication Union (ITU) o Organization for Economic Cooperation and Development (OECD) o Paris 21 (P21) o Statistical Office of the European Union (EUROSTAT) o United Nations Conference on Trade and Development (UNCTAD) o United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) o United Nations Economic Commission for Africa (UNECA) o United Nations Economic Commission for Europe (UNECE) o United Nations Economic Commission for Latin America and the Caribbean (UNECLAC) o United Nations Economic and Social Commission for Western Asia (UNESCWA) o United Nations Educational, Scientific and Cultural Organization (UNESCO) o United Nations Human Settlements Program (UN-Habitat) o United Nations Industrial Development Organization (UNIDO) o United Nations Office on Drugs and Crime (UNODC) o United Nations Statistics Division (UNSD) o World Bank (WB) o World Health Organization (WHO) o World Tourism Organization (UNWTO) o World Trade Organization (WTO) o Others, please specify ____________________________________ _______________________ As to geography

[Note: Please indicate locations by country and by city/municipality. You may attach separate sheets, if necessary.]

o o o o o

Head Office Branch Office/s Location of beneficiaries/projects Other areas of operation/activity, if any B. Existing registrations/licenses/accreditation: [Note: Please check all that apply and provide details (date of issuance and registration/ license/accreditation number. You may attach separate sheets, if necessary.] Agency/Body Reference No./Date of Issuance Department of Social Welfare and Development (“DSWD”) registration/ license/accreditation [Kindly indicate (a) if registration/license/ accreditation was issued by DSWD Head Office or Regional Office; if Regional Office, kindly indicate its location; (b) Issue/Expiry date; and (c) Control number.] Department of Education (“DepEd”) Permit/ Certificate Philippine Council for NGO Certification (“PCNC”) accreditation Department of Agriculture – Agricultural Training Institute (“DA-ATI”) accreditation Department of Agrarian Reform (“DAR”) accreditation National Commission on Indigenous Peoples (“NCIP”) accreditation National Commission on Muslim Filipinos (“NCMF”) Certificate of Recognition/ Accreditation Others (Please specify)

Does your purpose clause, as reflected in your Articles of Incorporation, include: (1) (2) (3) (4) (5) (6) (7) (8)

Raising funds through donations, contributions, grants, or endowments? _______________ Disbursing funds for charitable purposes? _____________________ ____________________________ Disbursing funds for religious purposes? ______________________ ____________________________ Disbursing funds for cultural purposes? ___________________________________________________ Disbursing funds for educational purposes? ____________________ ___________________________ Disbursing funds for social purposes? _______________________ ______________________________ Disbursing funds for fraternal purposes? ______________________ ____________________________ Disbursing funds for the carrying out of other types of “good works”? __________________

[Note: Please insert a list of locations by country and by locality. You may provide additional sheets, if necessary] __________________________________________________________ __________________________________________________________ ____________________ __________________________________________________________ __________________________________________________________ __________________________________________________________ ______________________________

Does your organization actually engage in: (1) (2) (3) (4) (5) (6) (7) (8)

H. Current and Intended Beneficiaries i. As to person/entity (Please check all that apply) o o o o o o o o o o o o o o o o o

Ifyour answer to either item C or D is “yes”, please proceed to item E. If your answer to items C and D is “no”, disregarditems E to H and the self-assessment questionnaire that follows. E.

Please indicate the amount of contribution as of the immediately preceding month (in PHP): ________________________________________________ _____________________________________________________ Please indicate the amount of fund balance (i.e. cash on hand and cash in bank) as of the immediately preceding month (in PHP): _______________ ________________________________________ Source of fund, in any form except equity, including but not limited to debt, endowment, grants, contributions and donations

CYAN MAGENTA YELLOW BLACK

region’s gains in terms of forest cover which has gained six percent increase, he said. The DENR-ARMM also awarded 48 organizations and individuals for their role in the protection and preservation of the environment for a balanced ecology. Alamia, a lawyer, said such a collective commitment to help protect

the environment is best expressed by the Supreme Court, no less, in Oposa vs. Factoran, a landmark decision recognizing the doctrine of “Intergenerational Responsibility on the environment in the Philippine legal system.” Among the awardees were the local government units of Parang, Datu Blah, Sinsuat, Datu Odin Sinsuat, North and South Upi, Maguindanao, Lamitan and Isabela in Basilan, Lanao Sur, Sulu and Tawi-Tawi. Also cited were civil society organizations from North Upi and Parang, Tawi-Tawi, Basilan, Sulu, Lanao Sur, Fr. Eliseo Mercado Jr. OMI, local news organizations and personalities.

Religious groups/sects Educational institutions Farmer-peasant Artisanal fisherfolk Workers in the formal sector and migrant workers Workers in the informal sector Indigenous peoples and cultural communities Women Differently-abled persons/Persons with disability Senior citizens/Elderly Victims of calamities and disasters Youth and students Children Urban poor Overseas workers Informal settlers Others, please specify ___________________________________ ______________________________________________________ ______________________________________________________ ______________________________________________________ _________________________________________ As to geography [Note: Please insert a list of locations by country and by locality. You may

‘Bistek’ unveils QC BizTech hub in Cubao By Rio N. Araja QUEZON City Mayor herbert “Bistek” Bautista recently spearheaded the relaunch of the “BizTech” business technology center in Cubao that would serve as the information center and clearing house for micro, small and medium entrepreneurs. “This launching demonstrates the efficiency of private and public cooperation in sparking business growth and productivity,” Bautista said. The center is in line with the city’s compliance with Republic Act 10644, or the Go Negosyo Act, signed by President Benigno Aquino III in 2014. The center shall also assist small businesspersons and entrepreneurs in building linkages with the city government.

provide additional sheets, if necessary] _______________________________________________________ _______________________________________________________ _______________________________________________________ ___________________________ II. Self-Assessment Questionnaire Please answer the following questions with “yes” or “no,” whereby “yes” means that the item currently applies/is observed/in place or will be applied/will be observed/will be in place once the organization is registered with the Commission: Questions Yes No 1. Do you have written guidelines prior to accepting donations/ funding/ endowments/ grants/contributions? 2. Do you have predetermined criteria in the selection of your beneficiaries/ grantees/ recipients? 3. Do you have any individual, body or committee within your organization that is responsible for regulatory compliance? 4. Do you have any individual, body or committee within your organization that is responsible for internal controls to ensure that resources and funds are appropriately identified, utilized, and accounted for? 5. Does your organization have a financial budget plan for allocating resources to specific programs/activities at least on an annual basis? 6. Is your organization affiliated with any umbrella organization with respect to the purpose for which your organization was established (ex. Caucus of Development NGO Networks (“CODE-NGO”)? 7. Do you have criteria for the selection of the members of your board of trustees? 8. Have any of your representatives or intended trustees or officers attended/participated in any seminar or symposium relating to the establishment and/or operation of an NPO? 9. In raising funds, do you deposit and course them through an institution/entity supervised and/or regulated by the BangkoSentral ng Pilipinas? 10. In disbursing funds, do you course them through an institution/ entity supervised and/or regulated by the BangkoSentral ng Pilipinas? If you answered “Yes” to any of the items in the questionnaire above, please provide details below and/or attach copies of all relevant supporting documents in relation thereto. You may attach additional sheets, as necessary. ____________________________________________________________________ ____________________________________________________________________ ____________________________________________________________________ ____________________________________ DECLARATION/VERIFICATION I, ___________(Name)_____________________,_______(Position)______ of (Name of Corporation), agree and consent that the Securities and Exchange Commission (“Commission”), and other regulatory agencies with which the Commission may coordinate and cooperate, may collect, use, disclose, share and process personal information of individuals provided in this form and/or other corporate documents submitted and filed with the Commission, forthe purpose of implementing the provisions of the NPO Guidelines. Further, I declare under the penalty of perjury, that all matters set forth herein have been made in good faith, duly verified by me and to the best of my knowledge and belief, are true and correct. Done this ______ day of __________________, 20___ in ______________________ ________________.

Signature over printed name Subscribed and sworn to before me in ________________________on____________ affiant personally appeared before me and exhibited to me his / her competent evidence of identity____________________________issued at __________on____________.

NOTARY PUBLIC FOR_______________ Notarial Commission No.______________ Valid until__________________________ Roll of Attorney No.___________________ PTR No.___________________________ IBP No.____________________________ Office Address_______________________

Doc. No._______ Page No.______ Book No.______ Series of______ (MS-NOV. 8, 2018)

Life household

By Christia S. Padolina, M.D.

he first 1,000 days of life, from conception until the age of two, help build a strong foundation for a child’s growth and development. As such, it is integral for expectant moms to put in full effort in creating a strong start for their babies during this crucial period.

Boosting baby’s IQ

while in mom’s womb

The good news is that the simple choices moms-to-be make every day can have a big impact on their child. I listed three simple steps for pregnant women on how they can boost their babies’ brain growth and development.

Avoid stress

The stress hormones in a mother’s body can negatively affect her baby. So when she experiences severe stress, the baby inside her womb may get exposed to unhealthy levels of stress hormones, which hinder baby’s brain development. In fact, a newly developed scanning technique allowed a team of researchers from Wayne State University to examine the neural activity of 47 fetuses, between 30 and 37 weeks of gestation. They recruited the participating mothers from a low-resource and high-stress urban setting. Most of them are exposed to high levels of depression, anxiety, worry, and stress. This study revealed that highly-stressed mothers had fetuses with reduced efficiency in how their neural functional systems are organized. It further confirmed a long-held theory claiming that stress is not good for the baby’s brain development while in the womb.

Stay active

Contrary to popular belief, exercising during pregnancy is generally safe. In fact, pregnant women who were physically active before they got pregnant can remain active during gestation as long as it is comfortable and there are no other health conditions. In addition to helping expectant moms build their stamina during pregnancy, exercising is also said to support the baby’s brain development. The University de Montreal and its affiliated CHU Sainte-Justine children’s hospital, conducted a random, controlled study on the effects of maternal exercise on a child’s brain development. The team of researchers randomly assigned pregnant women (during the start of their second trimester) either to an exercise group or to a sedentary group. Women in the exercise group performed at least 20 minutes of cardiovascular NO TO STRESS. Pregnant women are advised to avoid stress, as high levels of stress hormones hinder babies’ brain development.

bernadette Lunas, Issue Editor manilastandardlife@gmail.com @manilastandardlife @mstandardLIFe thursday, november 8, 2018

exercise three times per week at a moderate intensity while those in the sedentary group did not exercise. At eight to 12 days after birth, the babies of the women who participated in the study went through an electroencephalogram test, which records electrical activity in the brain using small, metal discs (electrodes) attached to the scalp. The EEG test revealed that babies born to mothers who were physically active had a more mature cerebral activation, suggesting that their brains developed more quickly.

Focus on the essential nutrients

It is essential for pregnant women to get the right balance of nutrients to provide for their babies’ growth and brain development. For instance, women are encouraged to take at least 400 micrograms (mcg), or 0.4 milligrams (mg) of folic acid before conception and during pregnancy. This man-made form of B vitamin is essential in the production of red blood cells. It also helps prevent neural tube defects, like spina bifida, by which the brain and/or spinal cord do not fully develop. To meet the dietary requirement for folic acid or folate, Food and Nutrition Research Institute said all women of child-bearing age can take supplements with folic acid in addition to eating food items high in folate. Another essential nutrient that women should have during pregnancy is DHA, which is not synthesized by the body and can only be obtained through diet or supplementation. This omega-3 fatty acid is important for a developing fetus’ eyes, nervous system, and overall cognitive development. Often called as a brain food, DHA also helps with the development of myelin sheath, a coating surrounding the brain’s many axons, which allows the nerve cells to communicate more quickly. Pregnant women may also consider drinking PROMAMA, a delicious vanilla tasting nutritional maternal milk drink designed to support them during pre-pregnancy, pregnancy, and lactation. It is scientifically formulated with the essential and important nutrients needed to support the baby’s physical and mental development in the womb, such as folic acid, DHA, choline, iodine, and iron. Pregnancy is an important time for a woman to take utmost care of her physical and mental health. This includes following a healthy lifestyle and making good choices. By doing this, pregnant women are likely to maintain a healthy pregnancy and help their babies get the best start in life so they can have a brighter tomorrow.

Simples choices moms-to-be make every day can have a big impact on their child; by avoiding stress, staying active, and choosing the right nutrients, they can help boost their babies’ brain growth and development.

Life

thursday, november 8, 2018 manilastandardlife@gmail.com

The enchantment of Christmas goes to Isabela

hile shoppers in Manila enjoy a series of fun activities and delightful performances at Rustan’s Makati and Rustan’s Shangri-la during the luxury shopping destination’s Christmas campaign launch, the enchanting start of the holidays was also felt by the residents in a town in isabela. in partnership with Go Share organization and the Armed Forces of the Philippines Northern luzon Command, Rustan’s led an all-in-one bayanihan program in Dinapigue, a town located along the coast of isabela. Dinapigue used to be a thriving mining town, but its main and biggest source of income has dried up, signaling a time for the people to leave Mother Nature Locals receive donations and medical assistance during the all-in-one bayanihan. to replenish her gifts. With not a lot of sources for income, the locals including the indigenous katutubo are left in need of basic necessities like food, shelter, clothing, and medical assistance. Rustan’s, with the help of Go Share, a non-profit, non-secretarian, and nonpolitical organization, worked with the Northern luzon Command to help bring volunteers and stakeholders to hard-toreach areas, carrying along with them donations and supplies. Rustan’s Children’s Department gave toys, clothes, and shoes to the children of Dinapigue. The Northern luzon Command, on the other hand, offered medical and dental aid, as well as training for first aid response to make sure the katutubo and locals of Dinapigue are ready in case of a calamity. Almost 4,000 people benRustan’s, Go Share, and Northern Luzon Command bring Christmas to Dinapigue, Isabela. efitted from the activity.

Conference highlights the advantages of homeschooling The recently held homeschooling conference in the Philippines has attracted 1,573 parents, educators, teens, and kids across 11 countries. Staged by homeschool Global, the #1stGhC, held at the SMX Convention Center, SM Aura Premier in BGC, featured a wide array of talks on education and parenting which catered to both homeschooling and conventional school-going families. international thought leaders in the education and homeschooling sphere, Brad huddleston, best-selling author of Digital Cocaine: A Journey Toward iBalance, and Dr. Debra Bell, pioneer homeschooler and a best-selling author herself, flew all the way from the US to deliver their keynote messages. Meanwhile University of the Philippines Diliman Chancellor Dr. Michael Tan wowed everyone with heartfelt messages for both his keynote talk and his workshop. huddleston opened the event by engaging participants in a talk about the “The impact of the Digital World on Families and learning.” he emphasized the dangers of digital addiction among the youth, saying: “in its simplest form, when someone cannot do without their digital device, they are addicted. This not only applies to entertainment media accessed through digital devices, but also includes technology that is required for work and school. When any activity, including interacting with digital devices, interferes with normal life, they are addicted.” Citing the problems it poses for both parents and educators, huddleston advised parents to “de-addict/dis-connect” their children, to do activities together like reading books and traveling, and to restrict screen time. he urged parents not to give their children iPads until they turn 11. But while technology has its share of negative effects on how children learn, it can also be maximized in a way that gadgets become part of a comprehensive and nourishing learning experience.

Homeschool Global president Edric Mendoza and wife Joy launch their book, ‘Why You Should Homeschool.’

As staunch homeschooling advocate Dr. Bell said, “homeschoolers are early adopters of the technologies that are revolutionizing education and how we deliver learning around the globe. it continues to rise in the United States, as recent research has shown, and is on the rise dramatically around the world.” Dr. Tan, meanwhile, talked about the “The impact of homeschooling on Philippine education,” explaining its fast traction among parents who value both family time and quality education. in between plenary discussions from these renowned speakers, participants also got to choose from workshops headlined by seasoned homeschoolers, educators, and homeschool students. There were dads who talked about how being a father means actively participating and providing time for the homeschooling journey of their children as the “principal” of the home. Award-winning blogger, best-selling author, and a homeschool mom who’s a homeschool graduate as well, Joy TanChi Mendoza, shared tips and tricks for moms so they can pace their day and set their schedule to be able to do their housework on top of homeschooling

Homeschooling kids man booths where they sold their handmade products.

their kids without losing their sanity. Other topics discussed were “Creative ideas for homeschooling,” “learning Better in a Community,” “Children with Special Needs,” “Parenting and Building Character,” “how homeschooling Can Prepare You for College,” and “Bullying, Depression, and Suicide,” to name a few. After a jampacked day of learning, homeschool Global had a special program that launched a scholarship grant for homeschooling moms, dads, and children battling illnesses called The Chrissie Garcia Scholarship Program, in honor of a long-time family advisor who passed away last year due to cancer. loyalty Awards for Family Advisors serving for five, eight, and 12 years were also given out, and homeschool Global president edric Mendoza and his wife Joy also officially launched their first book project together, “Why You Should homeschool.” There was also a homeschool exchange that showcased business opportunities for homeschoolers by homeschoolers. Capping off the event was a “Showcase of Talents” featuring homeschool performers and fast-rising folk-pop band Ben & Ben (one of the duo, Poch Barretto, is a product of homeschooling).

Rustan’s Children’s Department gave clothes, shoes, and toys to the children of Dinapigue.

Pepsi Philippines honors teachers

“WheN we celebrate, we are very serious about celebrations and enjoy celebrations. Walang celebration kung walang music, dancing, or prayer of thanks (There is no celebration if there isn’t any music, dancing, or prayer of thanks),” enthused Department of education Secretary leonor Briones as she addressed teachers from all over the Philippines who converged in Ormoc City, leyte for the annual celebration of National Teachers Month. As one of the strongest partners of Deped, Pepsi-Cola Products Philippines inc. readily accepted the government agency’s request to help support the culmination of National Teachers Month on Oct. 5. The bottling firm sponsored the celebration, providing treats and prizes for the hailed second parents of Filipino schoolchildren. “We have been a long-time partner of Deped and we eagerly celebrate the value of our teachers who sacrifice so much in the shaping of our nation’s future,” said Monique Castro, corporate affairs and communications senior manager of PCPPi, whose yearly Brigada eskwela and school feeding programs punctuate their regular partnership with the government organization. She added, “PCPPi’s consistent commitment to quality education is also cemented here through supporting our beloved educators, promoting their holistic welfare by participating in initiatives that honor them and their undeniable value to society.” Aside from supplying free goodies to teachers all throughout the day, PCPPi

also encouraged teachers to show off their gifts through a talent show that highlighted their hidden skills outside of the classroom. The beverage giant made sure they enjoyed themselves with engaging activities and games where they can win prizes and have a good time, all while being refreshed by their favorite Pepsi products. Since its launch in 2008, the Deped has elevated the usual teacher’s day celebration normally held in schools into a national celebration for educators nationwide. This year’s theme, “Gratitude in10sified” highlighted 10 successful years the government and its partners in the private sector celebrated teachers through National Teachers Month. Deped Undersecretary Tonisito Umali recalled the humble observance National Teachers Month started with and beamed how it has now grown for 6,000 teachers in its host city, the biggest celebration thus far. “What we are doing here is different,” he said. “The government isn’t the only one celebrating but those from the private sector as well.” Castro added, “The yearly celebration of Teacher’s Day and their monthlong appreciation from September to October—the longest in the world—is undeniable evidence that the Philippines holds at a high regard the contributions of teachers nationwide. With that, the support of companies like PCPPi is further proof that teachers are not only essential and significant to the communities we operate in, but also are key partners in building the nation.”

Teachers receive treats and other goodies at the Pepsi booth.

The health benefits of washing dishes

WAShiNG dishes is not a house chore most people look forward to after a full day’s work. Watching TV, reading a good book, and maybe even drinking a glass of wine are among the more popular activities people do at home to help them decompress and relieve stress. But according to a recent study conducted by Florida State University, washing dishes and doing so mindfully has real therapeutic benefits, particularly in relieving emotional tension. This study revealed that doing simple, everyday activities—like washing dishes—could help encourage person’s a state of mindfulness, which has been linked to improved well-being, reduced levels of stress, and even a strong immune system. This study was conducted among 51 college students. half of the participants were instructed to clear their minds and pay attention to the sensations they were experiencing while washing the dishes, like the temperature of the water, the feeling of the suds,

and the smell of the soap, etc. The other participants, or the control group, were simply told to just get the job done. The findings were very significant. The students who learned about the mindful approach reported a 25 percent increase in mental stimulation after washing dishes while also lowering their level of nervousness by 27 percent. The control group, on the other hand, experienced no such benefits. The study thus shows washing dishes mindfully may be a convenient and affordable form of therapy. So the next time the chore of dishwashing falls on your lap, do so gladly and “mindfully” with Mighty Mom Anti-Bacterial Dishwashing liquid. Mighty Mom is tough against grease, dirt, and bacteria and comes in lemon, Kalamansi, and Fresh and Clean scents. it comes in 250ml bottle and 250ml pouch. This dishwashing brand is available at SM, Robinsons, PureGold, Metro Gaisano, Rustans, and other leading supermarkets nationwide.

Entertainment

From left: Melbelline Caluag’s co-manager Narciso Chan, Melbelline Caluag, Muriel Lomadilla, Jasmine Fitzgerald, GMA Artist Center Assistant Vice President and Head for Talent Imaging and Marketing Unit Simoun Ferrer, Danielle Ozaraga, Esterlina Olmedo, Psalms Enguero, and his co-manager, Suzette Enguero.

New breed of talented performers sign up with GMA Artist Center GMA Artist Center warmly welcomed its new breed of talented performers in a contract signing held recently in GMA Network Center. The Clash ultimate champion Golden Cañedo, ﬁnalists Jong Madaliday, Mirriam Manalo, Garrett Bolden, Josh Adornado, Anthony Rosaldo, Kyryll Ugdiman, Mika Gorospe, Danielle Ozaraga, Melbelline Caluag, Esterlina Olmedo, Bryan Chong, Psalms David, Jasmine Fitzgerald, and Muriel Lomadilla are ready to start a new journey in their career as they inked their management contracts with GMA Artist Center. Golden is thrilled to be part of the GMA family. She still couldn’t believe that her dreams are now coming true, “Para akong nananaginip. Maraming salamat sa GMA sa lahat ng opportunities na ibinibigay nila sa amin. Pinapangarap ko lang ito noon at ngayon, unti-unti ko nang naabot yung mga pangarap ko.” Jong feels very blessed to be part of the Network’s roster of talented artists, “Sobrang thankful po ako sa GMA Network kasi nasa kasuluk-sulukan pa ako ng Mindanao dati pero ngayon, hindi ko ine-expect na isa na ako sa artists ng GMA.” Garrett looks forward to the new experiences that await them, “Unbelievable pa rin na nandito na kami ngayon. Mas napapalitan na yung excitement ng kaba. We’re so excited with what’s next for us at yung mga maipapakita namin sa ating mga Kapuso.” Josh expressed how grateful they are to sign up with GMA, “This is such a great blessing kasi ﬁnally, the

fruits of our labor ay nandito na. We are ready to work hard and we are grateful to GMA for giving us this opportunity.” Anthony, in turn, shared, “Natupad ko na yung pangarap ko na maging parte ng GMA. Ang tagal kong hinintay ito. Ready na akong ipakita sa lahat ang mga kaya kong gawin at pasayahin sila sa pamamagitan ng pagkanta.” Mirriam quipped that their supporters will surely see more of them, “After ng The Clash, mapapanood na agad kami sa Studio 7 every Sunday. We are all excited to perform kasi this time, yung performances namin para talaga sa mga Kapuso fans.” Meanwhile, GMA Entertainment Group Senior Vice President Lilybeth G. Rasonable is proud to welcome the Network’s newly-signed artists. She also revealed that GMA has already been gearing up more quality projects for them. “We’re very proud of what The Clash has produced. We’re also very excited sa mga gagawin nilang projects in the coming months. For a start, we have Studio 7 which they are part of. We also planned a series of concerts for them. They will be performing in the different regions. Hopefully, madala rin natin sila abroad,” said the GMAexecutive. Apart from Rasonable, also present in the contract signing were GMA Senior Assistant Vice President for Alternative Productions Gigi Santiago-Lara, GMA Artist Center Assistant Vice President and Head for Talent Imaging and Marketing Unit Simoun Ferrer, and Senior Talent Managers Vic del Rosario, Joy Marcelo and Daryl Zamora.

Very Wang... From C4

She has been championing women and children’s rights. Niña plans to push for a legislation that will safeguard the welfare and interest of women and children. She believes that stiffer penalties for violators, and empowering women and children with sufﬁcient education and information can help eliminate the abuse done on women and children. Her exposure to the LGBT community in her workplace also awakened her to their plight. She wants to help lessen, if not totally eradicate the stigma against them to ensure their safety while exercising their equal rights and privileges as human beings. Niña is also an advocate of the Overseas Filipino Workers (OFWs), especially those who are repatriated for reasons beyond their control. She plans to push for the creation of a center that will offer hotel-like services for the distraught OFW and their family to help them recover from the trauma of their experiences abroad. Niña also seeks to pass a law that will strengthen the national government’s program on poverty alleviation. She sees that a collaboration between local

Niña Taduran

government units (LGU) and the Technical Education and Skills Development Authority (TESDA) by way of technology and livelihood training in the communities, can empower the out-of-school-youth and the plain housewives and make them more productive. Even before being known as a Tulfo co-anchor, Niña is a highly competent professional with years of experience in management and leadership across multiple sectors. She possesses excellent interpersonal skills, and is eager to be challenged in order to grow. She has genuine interest and compassion in people that makes her an effective public servant because she serves from the heart.

CROSSWORD PUZZLE Thursday, November 8, 2018

ACROSS 1 Radius companions 6 Mischievous look 10 “Waterloo” pop group 14 Appropriate (hyph.) 15 Corona 16 Soft light 17 Quart, plus 18 Night flyers 19 British peer 20 Lime cooler 21 Lisper’s problem 23 Medium meetings 25 Take a deep — 28 Male deer 29 Hurries off 31 Small and shiny 33 Southeast Asian land 34 Welsh dog 35 Workout facility 38 Trying 41 Continent connector 43 Natural elevs. 44 San Diego pro 46 Lancaster foe 47 “Walk Away —” 48 Dippers 50 Grow 52 Shared a ride

54 Surveyor’s instrument 56 — tai cocktail 57 Snaky fish 60 Rough shelters 61 Suffer defeat 63 China neighbor 65 A law — itself 66 Claim on property 67 Tabloid twosomes 68 Consider 69 Stein fillers 70 Nobelist from Egypt DOWN 1 NCAA Bruins 2 Burglar’s “key” 3 Students’ pads 4 Large primate 5 Thoroughfare 6 Halloween disguise 7 Uncooked 8 Pandora’s boxful 9 Fodder holders 10 Administrative division 11 Ebony 12 Puts to sleep 13 Boring tools 22 Airline to Stockholm 24 Verify 26 Antarctic sea

27 Cinemax rival 29 Willowy 30 Two-wheeled vehicle 32 Buffalo’s lake 34 Yield by treaty 35 Burned slowly 36 Free of contaminants 37 Makes inquiry 39 Unwraps 40 Lacy scarf 42 Jekyll’s other half 45 Agt. 47 Kidnapper’s

demand 48 Mauna — 49 Cover stories 50 Wrinkled fruit 51 Starbucks order 53 Forewarnings 54 Dull sound 55 Elbow grease 58 Madame Bovary’s name 59 Hold out 62 Watch 64 Ms. Hagen

HE Spice Girls on Monday released details of a 2019 UK reunion tour which will see them play Wembley Stadium, Britain’s biggest venue, but all without Victoria Beckham. The 1990s pop phenomenon will take

the stage in six British cities next year, including Manchester on June 1, the Scottish capital Edinburgh a week later and culminating at Wembley on June 15. All five former bandmates announced plans earlier this year to perform together again for the first time since 2012, but Beckham—“Posh Spice”—confirmed on Monday reports she will not take part. In a video shared on the band’s newlycreated Twitter account, the four remaining members staged a mock news broadcast to confirm the tour, featuring them starting to sing one of their old songs. Beckham, now a respected fashion designer, then also took to social media, posting a photo of the foursome alongside a statement. “I won’t be joining my girls on stage again but being in the Spice Girls was a hugely important part of my life and I wish my girls so much love and fun as they go back on tour,” she wrote on Instagram. Ahead of the announcement Melanie Brown (Scary Spice) left the door open to Beckham’s possible involvement. “It’s just the four of us that are fully confirmed, but you know, Vic might join us at some point,” she told Britain’s ITV. “She’s got a full-on life with all of her work commitments and her fashion line and her kids, so, she’s just kind of not committing just yet,” Brown added. The group has sold 85 million albums worldwide. Only two of their 11 singles failed to reach number one on the British charts, while their first three singles all hit the US top five. The five-piece girl band formed in 1994, split in 2000 but reunited for a world tour in 2007. They got together again to perform at the London 2012 Olympics closing ceremony and also collaborated then for the launch of the Spice Girls musical Viva Forever!. An expected comeback in 2016 with three bandmates failed to materialize. AFP

THURSDAY, NOVEMBER 8, 2018

nickie.standard@gmail.com

INTERNATIONAL

SPICE GIRLS

reveal 2019 UK reunion tour details

Members of the supergroup Spice Girls are reuniting for stadium tour in 2019 but without Victoria Beckham.

Animated shows take spotlight in world’s biggest entertainment content market GMA Worldwide, Inc., GMA Network’s content distribution arm, took part in the Philippine pavilion in MIPCOM 2018, the world’s biggest entertainment content market. The Philippine pavilion highlights the country’s animation industry by bringing together content creators and showcasing Filipino-produced animated content. Among the programs highlighted in the Philippine pavilion are GMA’s animated anthology Alamat, animated live-action series Sirkus and My Fairy Godmother (Daig Kayo ng Lola Ko). The pavilion was organized by the Department of Trade and Industry (DTI), Department of Information and Communications Technology (DICT), and the Film Development Council of the Philippines (FDCP) in cooperation with various animation and content companies from the private sector. Also part of the pavilion’s highlights is Barangay 143, the Philippines’ ﬁrst-ever anime series featuring the voices of top GMA artists which premiered on Oct. 21 on GMA-7. “Animation is one of our strengths, and one of the shows we are promoting here is Barangay 143, which demonstrates our country’s love for basketball,” said FDCP Executive Director Wilfredo Manalang. Manalang The Philippine pavilion aims to promote the country’s creative industry in the international arena. “The Philippines has traditionally been seen as very strong in terms of providing services, but we also have great content creators,” said DICT Undersecretary Monchito Ibrahim.

The country’s creative industry has been recognized as a potential export sector that can drive economic growth and job creation. “Over the past few years, we’ve been increasingly collaborating with the private sector and have reached the conclusion that MIPCOM is the best place for our home-grown talent to showcase their skills,” said DTI Export Marketing Bureau Assistant Director Anthony Rivera.

Animated live-action series 'Daig Kayo ng Lola Ko' starring Gloria Romero is among the programs highlighted in the Philippine pavilion MIPCOM 2018.

Nickie Wang, Issue Editor nickie.standard@gmail.com

Entertainment

THURSDAY, NOVEMBER 8, 2018

‘WAITRESS’ serves up sweet confections

Rico J. Puno in a publicity photo for his album 'Tatak Rico J.' (1978)

YUGEL LOSORATA

Larger than laugh THE death of OPM pioneer Rico J. Puno prompted netizens to post tribute messages and, at least for my colleagues in the press and celebrity friends, their experiences with the “Total Entertainer.” Of course such scenario put me back to my own moment with the singer during my early years in the entertainment beat. I was interviewing him for a feature and the setting was his bar in Makati. That night Rico J. practically greeted me by boasting how proud he is as a father because his son is already a COO — of his own bar. It was the first time I heard that “Child Of the Owner” joke and the way he threw the punch floored me. Since then every time I hear that or meet another “COO,” it would remind me of him. As music journalist I have met talents with the same sense of humor as Rico J. The late Snaffu Rigor, who actually wrote his hit “Macho Gwapito,” immediately informed me that he is the brother of Spanky and Male Rigor (of VST & Co.) which he reassured by adding, “Kapatid ko pa rin sila hanggang ngayon.” While I met senyor Rico in his bar, I shook hands with Manila Sound stalwart Rene Garcia (of Hotdog fame) in a band studio. The man, who also passed recently, was fond of the word “mismo” that he’d often say it to make a nod. During our talk I quickly observed he was a jolly character and knew how to verbally express the joy of making music. In a Facebook post from his wake, bold letter carvings are seen placed around him to spell the word, you guess, mismo. To me that was both poignant and an amusing way to pay respect to the man. Years back I encountered another master of his genre, Francis Magalona, in, of all places, a toilet. That was in Cebu when I was covering Philippine Idol and he was a judge. He struck a conversation upon recognizing me as among the media invitees and that led to formal interviews. But Francis M.’s humor was definitely no toilet. He was a class act and I read that when he rapped, (in “Meron Akong Ano”) “Dahandahan hindi mo ‘ko maisahan/Up and down side to side or one on one Dela Cruz/ Are you amused by the words I used/Teka Tagalog nga pala excuse me!” I also had interactions with two remarkable vocalists in Gary Ignacio of Alamid and Bong Pascasio of Grin Department. Chatting with these guys after their gigs or over a few bottles of beer was fun in the same way we teenage boys then savored the innuendos of lines like “May libre kang toothpaste” or “Mag-batibot.” These men above or now above made valuable contributions to Filipino music and are remembered for that. But it also makes sense to note that their kind of humor (and others of their breed and still around cracking jokes) helped turn them into figures larger than life, or a laugh.

at Carlos P. Romulo Auditorium

HE musical Waitress, which is making its international premiere with a sparkling new production tomorrow, Nov. 9, is a celebration of friendship. That is why, during the musical’s press conference, the members of the cast, led by theater star Joanna Ampil, talked about how quickly they bonded as friends. “The rehearsal period is of course very tiring, but with these people, you look forward to every rehearsal. It also helps that the director creates this wonderful atmosphere within the rehearsal period, it’s just full of love. Everyone is amazing to work with and I just feel privileged to be part of the cast,” Joanna shared. “It’s amazing how quickly we bonded. You see, the level of commitment these guys put in this production— their love for the material. And it’s precious to see these guys, that’s not a kind of friendship that you let go of,” Bituin Escalante added. The show, which continues to perform for sold-out audiences on Broadway and across the USA, is also set to debut at London’s West End in 2019 and in Australia in 2020. Based on the beloved film by Adrienne Shelly, Waitress features music and lyrics from six-time Grammy nominee Sara Bareilles (“Love Song,” “Brave”) and a book by Jessie Nelson. The show made history by having Broadway’s first all-female creative team. Waitress tells the story of a pie maker named Jenna who, despite the mundanity of her life, finds comfort and reckoning in the simple magic of baking. With the help of her two friends Dawn and Becky, she dreams of a way out of her loveless marriage and musters the courage to change her life for the better. Leading the show as Jenna is award winning international musical theatre star Joanna Ampil. She has performed in the West End in musicals such as Miss Saigon, Les Miserables, Avenue Q and Jesus Christ Superstar, to name a few. Her performance as Candida in the recent film Ang Larawan has won her numerous Best Actress Awards locally. Jenna is Joanna’s first role back in the local theatre scene after her stint as

Grizabella in the international tour of Cats. Set to play the sassy waitress and loveable friend, Becky, is none other than Bituin Escalante. An influential figure in OPM, Bituin has also made rounds in the NICKIE theatre scene since 1999. Bituin has starred WANG in numerous Tony-winning shows in roles such as Joanne in Rent, Effie White in Dreamgirls, and Asaka in Once on this Island. Her recent performance as Aling Saling in Himala: The Musical has earned her critical acclaim. To complete the trio, Maronne Cruz will be playing the neurotic and eccentric Dawn. Maronne is no stranger to musical theatre. She has appeared in numerous productions including Jeannie in Hair, Gabbi in Sa Wakas, Josephine in Ako Si Josephine, Stepsister Joy in Cinderella. She has also appeared in the indie film Mariquina as Monet and, most recently, performed in the hit musical Ang Huling El Bimbo. But Joe’s Pie Diner would not be complete without the men of the show. Joining them are Bibo Reyes as Dr. Pomatter, Nino Alejandro as Ogie, George Schulze as Earl, Dean Rosen as Cal, and Steven Conde as Joe. Waitress also features Luigi Quesada, Gerhard Krysstopher, Luis Marcelo, Emeline Celis Guinid, Teetin Villanueva, Sarah Facuri, and Jillian Ita-as. It is directed by Bobby Garcia, Ccoreography by Cecile Martinez, set design by Tony Award winner David Gallo, lighting design by Aaron Porter, musical direction by Farley Ascuncion, costume design by Raven Ong, sound design by Josh Millican, hair and make-up design by Johann dela Fuente and vocal coaching by Manman Angsico. Waitress runs from Nov. 9 to Dec. 2 at the Carlos P. Romulo Auditorium, RCBC Plaza, Makati. For tickets, contact Ticketworld at (632) 891-9999 or visit www. ticketworld.com.ph. *** Niña Taduran’s next action Niña Orbon Taduran is a veteran broadcast journalist prior to her entry into the political arena. Though reluctant at first, she answered the call to be 3rd nominee of the Anti-Crime and Terrorism through Community Involvement and Support (ACT-CIS) partylist to expand her reach in providing public service to those who are deprived of their basic rights and services, especially on matters concerning health. In her more than two decades as broadcast journalist, the most recent of which as co-anchor to Raffy Tulfo in their daily radio show Wanted sa Radyo, Nina has become the medium of the so-called “sumbungan ng bayan” and has helped in the speedy resolution of cases tackled in the show. Continued on C3

VERY WANG

Award-winning theater actress Joanna Ampil (center), along with Bituin Escalante and Maronne Cruz, stars in Atlantis Theatrical's production of the hit Broadway musical 'Waitress.'

Actor of the moment Tony Labrusca stars opposite Angel Aquino in an iWant original movie.

Tony and Angel’s ‘Glorious’ sets social media ablaze ANGEL Aquino and Tony Labrusca set the internet on fire after the trailer of their iWant original movie Glorious made the rounds online, having earned more than six million views in 24 hours. Produced by Dreamscape Digital exclusively for iWant, ABS-CBN’s new streaming service, Glorious revolves around Glory (Angel), a 52-year-old woman who falls in love with Niko (Tony), a guy 30 years her junior. They start a risqué May-December love affair, but will struggle to keep their relationship intact amidst social disapproval and judgment. The full trailer has tallied more than six million views on various Facebook pages after it was released Sunday (Nov. 4), as netizens raved about its steamy scenes featuring Angel and Tony. The names of the two stars also trended on Twitter as netizens and various celebrities, including Broadway diva Lea Salonga, posted their enthusiastic reactions to the trailer. Glorious is written and directed by Concepcion Macatuno and is produced by Dreamscape Digital exclusively for the new iWant, which can be accessed via iOS or Android app starting Nov. 17. On the new iWant, users from the Philippines may stream original films and series, old and current Kapamilya shows, movies, restored film classics, music, and live concerts, for free. For updates, like www.facebook.com/ iWant, at sundan ang @iwant sa Twitter, @iwantofficial at @dreamscapedigital sa Instagram, and www.youtube.com/ iWantPH on YouTube.

Tony Labrusca and Angel Aquino are heating up the screen with their MayDecember affair in 'Glorious.'