Manila Standard - 2019 September 16 - Monday by Manila Standard

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SPECIAL REPORT ON THE ECONOMY (Sections D, E, F)

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‘FROM FAT TO OBESE: POLITICAL DYNASTIES EXPANDING’ By Joyce Pangco Pañares

‘Stimulating the PH Economy‘

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ALMOST a third of all local elected positions in the 2019 midterm polls were won by candidates belonging to “fat dynasties” made up of several family members holding elective positions simultaneously, a study by the Ateneo School of Government showed. Despite a provision in the 1987 Constitution prohibiting political dynasties, and in the absence of an anti-dynasty law, fat political dynasties have “expanded dramatically” over more than three decades now, said AsoG Dean Ronald Mendoza and research associates Leonardo Jami-

nola and Jurel Yap in their recent study entitled “From Fat to Obese: Political Dynasties after the 2019 Midterm Elections.” “Clearly, political clans have found a way around term limits, by fielding more family members in power—giving rise to more fat political dynasties. The recently concluded 2019 midterm elections demonstrate the staying power of dynastic incumbents... For these dynasties, their extended—and for their clans, expanded‚stay in office affords them more control over the domestic economy, which in turn fuels their continued expansion and staying power,” the study Next page said.

FAT DYNASTY SHARE (2004-2019 ELECTIONS) POSITION

2004

2007

2010

GOVERNOR

56.96%

VICE GOVERNOR

53. 85%

48.10% 5.75% 52.56% 4.46%

PROVINCIAL BOARD MEMBER

39. 78%

37.73% 2.05% 42.90%

LOWER HOUSE

48. 11%

MAYOR

55%

2013

2016

2019

1.96% 71.79% 16.79% 82.50% 10.71% 76.25% 6.25% 80.25%

65%

12.44% 53.16% 11.84% 67.90% 14.74%

5.17% 41.95%

0.95% 45.77%

3.8% 45.20% 0.57%

1.89% 55.56% 5.56% 56.84%

1.28% 55.6%

1.24% 66.67% 11.07%

39.56%

41.15% 1.59% 47.84% 6.69% 48.87%

1.03% 50.81%

1.94% 53.38% 2.57%

VICE MAYOR

27.84 %

29.10% 1.26% 34.06%

4.96% 36.17%

2.% 38.99% 2.82% 38.91% 0.08%

COUNCILOR

20. 85%

20.22% 0.63% 22.51% 2.29% 22.63%

0.12% 22.71% 0.08% 23.15% 0.44%

50%

VOL. XXXIII • NO. 214 • 6 SECTIONS 36 PAGES • P18 • MONDAY, SEPTEMBER 16, 2019 • www.manilastandard.net • mst.daydesk@gmail.com

Trackers hunt down convicts 10 murders linked to mess at BuCor

Two of Chiong killers still on the loose—DOJ

TWIN TOWERS OF CORRUPTION.

The facade of the Bureau of Corrections headquarters where, a BuCor official himself told the Senate Blue Ribbon, ‘unholy alliances’ and shady deals have been forged between prisoners and prison guards, a telling revelation that came to light during the probe of the abuses made under the Good Conduct Time Allowance Law that set free almost 2,000 convicts. Inset shows the NBP maximum security compound. File Photo By Lino Santos

By Macon Ramos-Araneta

By Rey E. Requejo

SENATOR Richard Gordon has asked the National Bureau of Investigation to look into the killings of at least 10 prison officials and personnel, including a doctor of the New Bilibid Prison Hospital amid the ongoing Senate probe of corruption at the Bureau of Corrections. Gordon, who chairs two Senate committees investigating the abuse of the Good Conduct Time Allowance Law, said the murders by unidentified gunmen could be related to various forms of corruption at the BuCor. Frederic Anthony Santos, chief of the BuCor Legal Division, testified before the Senate that life was cheap in the New Bilibid Prison, and said “unholy alliances” between prisoners and prison guards have spawned an “intense” code of silence. A prison guard before becoming a lawyer in 2017, Santos who has been

OLICE are set to deploy 121 tracker teams nationwide Thursday to hunt down heinous crime convicts released under the Good Conduct Time Allowance Law.

2 witnesses vs. De Lima asked to reveal all on Bilibid rackets By Macon Ramos-Araneta

Hog raisers need P26b to contain ASF By Rio N. Araja HOG raisers belonging to the Pork Producers Federation of the Philippines Inc. want the government to allocate P26 billion or 10 percent of the worth of the P260-billion hog industry to contain the spread of the African swine fever. They made the request even as Agriculture Secretary William Dar appealed to backyard swine raisers over the weekend to report sick and dead pigs to their

respective municipal or city veterinarians to determine the cause of sickness or death and stop the sickness from spreading and prevent any more losses to the swine industry. He made the appeal in the wake of the dozens of pigs found floating along Marikina River and a creek in Quezon City. “It was utterly irresponsible on the part of the backyard raisers as they did not only violate current laws, but their

Oil price upsurge seen at P1.3/liter

By Alena Mae S. Flores

revolt that has raged for the last 99 days. But the rally descended into violence when small groups of hardcore activists—known within the movement as “braves”—tried to attack the city’s main government complex. Police fired repeated volleys of tear gas and deployed water cannon trucks after Molotov cocktails and rocks were

THE oil distributors may implement a price increase of as much as P1.30 per liter on Tuesday as the world’s oil markets react to the drone attack on Saudi Arabia that is likely to affect the global oil supply. “Expect fuel prices to go up next week [September 17 to 23, 2019]. Diesel should go up by P0.70-P0.80 per liter and gasoline should go up by P1.20P1.30 per liter,” Unioil Philippines said in its weekly price forecast. On Saturday, drones attacked Saudi Arabia’s Khurais oil field and a processing facility in Abqaiq, and the kingdom announced that 5.7-million barrels

HK still in chaos: Protesters defy riot cops HONG KONG riot police fired tear gas and water cannons at hardcore prodemocracy protesters hurling rocks and petrol bombs on Sunday, tipping the violence-plagued city back into chaos after a brief lull in clashes. Tens of thousands of people defied authorities to march through the streets of the city in an unsanctioned rally on Sunday, the latest expression of a popular

SENATOR Panfilo Lacson on Sunday said they asked two witnesses in the drug cases against detained Senator Leila de Lima to testify because it was difficult to link high-ranking officials to the massive corruption at the Bureau of Corrections and denied any effort to pin her down. In an interview on radio dzBB, Lacson denied claims that last Thursday’s Senate hearing was aimed at shifting the blame on De Lima, who has been detained on drug charges for more than two years.

Lacson said touching on De Lima’s drug charges was “just incidental and inevitable.” “Of course, incidentally, we can’t avoid not mentioning her name, but the focus and the purpose in inviting former BuCor OIC Rafael Ragos and NBI Intelligence agent Jovencito Ablen to the hearing was to determine the other rackets at the BuCor, particularly inside the New Bilibid Prison [NBP],” Lacson said. Meanwhile, Senator Richard Gordon said he will also ask former Justice secretary Vitaliano Aguirre to appear before

Brig. Gen. Bernabe Balba, deputy director of the Criminal Investigation and Dtection Group said each tracker team, composed of five personnel, will be deployed after the 15-day grace period set by President Rodrigo Duterte for their surrender lapses. “We have already organized teams and even before the deadline, we are helping to locate these convicts and there were those who surrendered. In fact, we have already listed 47 surrenderers in the CIDG,” he said in Filipino in a TV interview. Philippine National Police spokesman Brig. Gen Bernard Banac said as of 6 a.m. Sunday, 431 convicts released under the GCTA law have surrendered to the different police stations nationwide. Of the total, 252 have already been turned over to the BuCor. He said 138 were cases of murder, 130 cases of rape, 42 cases of robbery with homicide, 28 cases of homicide, 14 cases of rape with homicide, nine cases of robbery with rape, 18 cases of dangerous drugs, and eight cases of parricide. Justice Undersecretary Deo Marco, however, admitted that two of the convicted rapist-murderers of the Chiong sisters of Cebu who were erroneously released on good conduct have not surrendered, despite feelers that were sent out last week. Four of the seven men convicted in the rape and killing of sisters Marijoy and Jacqueline Chiong reportedly benefitted from Republic Act 10592 or the GCTA law. Two of the released convicts, Ariel Balansag and Albert Caño, have already complied with President Durterte’s order Next page and turned themselves in.

READY TO DEPLOY. The police Security Protection Group conducts a consolidation and accounting of its personnel, many of whom will soon deploy as tracker teams to go after the rest of convicts set free erroneously by flaws in the GCTA Law. Lino Santos

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DOH dreams of ‘leprosy-free’ world He said the innovations and breakthroughs in multi-drug therapy and New Technologies had paved the way for an enriched quality of life for the people afflicted with leprosy. “Our success is a story of dignity and triumph of the human spirit, and today, we look back at these past successes to remind us of what we are all here for-to care for and celebrate humanity, Duque said. He said the International Leprosy Congress had been hard at work for many years to realize our ultimate dream of a world without leprosy. The ILC has been conducted every

three to five years for over 100 years, beginning with a meeting in Berlin in 1897. Organized by the International Leprosy Association since its establishment in 1931, these meetings have consistently brought together the leading experts in leprosy work, scientists and researchers in various aspects of the disease, people affected by leprosy, advocacy groups, charitable organizations that support leprosy work, and representatives of Ministries of Health throughout the world. Throughout the years, Duque said, the course of the Department of Health’s response to leprosy had transformed from isolation, segregation and quarantine

approaches to inclusive client-centered, community-based approaches. He recalled the humble beginnings of the Department of Health, which could be traced back to the establishment of the San Lazaro Hospital, which was dedicated to the care of people afflicted with leprosy back in 1578. The Health department has now come full circle as the institutionalization of this people-centered care has paved the way for a system whose desired ending is what is now called Universal Health Care. The vision for Universal Health Care is tied with the aspirations of the 2016 to 2020 Global Strategy for Leprosy and Goal 3 of the Sustainable Development Goals. These are zero stigma, wherein people affected with leprosy participate and contribute in the daily economic activities of their community; zero disability, wherein

‘From fat... All in the family Over the past 10 elections, the percentage of fat dynasties has increased from 19 percent of all local elected officials in 1988 to 29 percent this year, growing at about 1 percent or 170 positions per election. A majority of 80 percent or four in five governors and 67.90 percent of vice-governors elected in this year’s polls belong to fat political dynasties. At the House of Representatives, 67 percent of the elected lawmakers are also members of political clans. “Governors are more likely to have relatives occupying elected positions during the same period compared to other elected officials. This makes sense as the governorship is the top post at the local level, and running a provincial-wide campaign necessitates large resources and extensive connections—advantages that often only fat dynasties tend to dominate,” the study said. At least 53 percent of mayors and 39 percent of vice mayors who won in the 2019 polls also belong to fat political dynasties. Fat dynasties, poor provinces The 15-page study said political dynasties are linked to greater poverty, especially outside Luzon. “Empirical evidence suggests that dynasties have an adverse effect on governance, and hence also development. It hints

that the less developed economic, social, and political institutions in provinces away from the capital allow dynasties to retain political power without promoting desirable development outcomes.” The top 20 provinces ranked according to fat dynasty share were: Maguindanao (50.54 percent of local posts), Pampanga (49.18 percent), Bulacan (45.28 percent), Davao Occidental (40.98 percent), Isabela (40.96 percent), Sulu (40.20 percent), Lanao del Sur (39.84 percent), Nueva Ecija (39.60 percent), Pangasinan (39.17 percent), Ilocos Norte (37.30 percent), Batangas (36.49 percent), Siquijor (36.23 percent), Eastern Samar (35.92 percent), Cavite (35.74 percent), Catanduanes (35.54 percent), Basilan (35.17 percent), La Union (34.86 percent), Negros Oriental (34.55 percent), Cebu (34.33 percent) and Abra (33.10 percent). Manila Standard compared the list to the latest poverty incidence data of the Philippine Statistics Authority released in April. The two data sets showed that of the 20 provinces with the most number of elected local officials belonging to fat political dynasties, eight belong to the 20 poorest provinces, namely Lanao Del Sur (1st poorest), Basilan (2nd), Sulu (5th), Maguindanao (7th), Eastern Samar (8th), Abra (13th), Davao Occidental (16th) and Negros Oriental (19th). Reform options According to the study, the imposition of term limits has not altered the dynastic nature of politics in the country.

“In fact, term limits may have, to some extent, aggravated the proliferation of dynasties by providing incentives for incumbents to use their relatives as a ‘survival strategy’ when their term comes to an end,” the study showed. “However, it was the absence of ancillary reforms—like the dynasty regulation and political party reforms—that opened the floodgates for dynasties to dominate. Imposing term limits was never conceptualized as a stand-alone reform.” To increase electoral competition and enhance checks and balances, the researchers suggested that government must regulate political dynasties, strengthen political parties, and introduce electoral reforms. ‘The Problem Lies With The People’ For President Rodrigo Duterte, whose own family has held political power in Davao City for over 20 years now, political dynasties continue to exist because voters keep on choosing the same politicians. Duterte, who won the presidency in 2016, was succeeded by his daughter, Sara, as mayor of Davao City. “I am really embarrassed because people keep on repeating that phrase about dynasty. It is true – it is bad if only one family rules for so many years. But the problem lies with the people,” the President said in a speech in June. In March last year, during last year’s grand assembly of the League of Municipalities of the Philippines attended by municipal mayors, the chief executive said he supports the anti-political dynasty bill, but

Hog...

2 witnesses...

By Macon Ramos-Araneta

EALTH Secretary Francisco Duque III said Sunday the health sector’s dream of “a world without leprosy” is making headway as the target year 2020 nears.

From A1

misdoing also spread the disease pathogens much faster,” Dar said. Meanwhile, Quezon City Mayor Joy Belmonte on Sunday maintained 11 pigs from Barangay Bagong Silangan had tested positive for African swine fever. She reacted to Dar’s statement that the announcement of ASF cases must only come from him. She claimed the information came from the Bureau of Animal Industry, an attached agency of the Department of Agriculture. At the weekly Liga ng mga Brodkaster forum in Project 6, Quezon City, Nicanor Briones, PPFPI vice president, raised concern that the ASF is spreading. “The government must allocate a huge fund for the hog industry, the amount of 10 percent of the P260-billion industry,” he told reporters. The hog industry badly needed the support of President Rodrigo Duterte and “his entire Cabinet family, especially the National Disaster Risk Reduction Management Council,” he said. “This is a disaster if ASF is not contained completely.” With the cases of ASF in the country, he said, not only the hog-raising industry stood to lose income but also the public and the food business, and the economy would suffer. He said the P3,000 financial aid per head of dead pig from the Department of Agriculture was not enough to help the legitimate hog raisers or even the backyard raisers. “Maybe we could settle for a conservative figure of P5,000 per head. Can you imagine how much a piglet costs, or for that matter a pig, a mother pig or a stud? A stud could cost about P100,000 to P180,000 each,” said Briones, a former Agap Party-list lawmaker. For its part, San Miguel Foods assured the public that its meat products are safe to eat and are not affected by the African swine fever. “Our farms and facilities follow strict animal health and biosecurity protocols. We also secure the required permits from the Bureau of Animal Industry and the National Meat Inspection Service before any of our products are distributed,” the company said. With Othel V. Campos

10 murders...

From A1

the Senate investigation on the sale of Good Conduct Time Allowance. So far, Lacson said, they were able to learn from the testimonies of Yolly Camilon and her common-law husband, Gadfrey Gamboa, an inmate, about the sale of GCTA credits. He said the corruption, however, was still at a low level. The opposition Liberal Party challenged the Senate leadership to respect its own and give De Lima the chance to defend herself against imputations made against her. As a senator, LP president Francis Pangilinan said, De Lima should be able to defend herself in the very institution to which she belongs. “If sentenced criminals may be called to Congress to testify, surely a senator who has been detained without a shred of evidence can do the same,” he said. “We strongly condemn all these attacks against Senator De Lima. Don’t divert the issue from the real lawbreakers. Give Senator Leila a fairfight,” he added. Pangilinan also slammed the Duterte administration for implicating the detained senator in the BuCor corruption scandal. “This administration is not content with insulting Senator Leila de Lima. Apart from being incarcerated on invented allegations, her name is being dragged to the incompetence and corruption of this regime’s henchmen,” the LP said in a statement. “Perhaps all scandals involving this administration will be blamed on her to cover up the stench of their misdeeds,” it added. Pangilinan noted that the ineptitude and malevolence of dismissed BuCor Director Nicanor Farldon at the BuCor and the BOC were clear, yet he is still praised like a sinless saint even after he’s been removed from office. He said Ragos and Ablen who were charged together with De Lima, testified against her and are now under the witness protection program. “Will they speak against the administration’s persecution of Senator Leila?” he asked. He said the convicted criminals who testified against De Lima are living it up with their transfer to the Marine Barracks in Taguig and are benefiting from the fruits of their lies for the administration.

with the bureau for 23 years, admitted that everything is “negotiable” and can be bought. But he also said there’s an unwritten rule among convicts and their wardens inside the national penitentiary to cover each other’s backs by doing favors. A NBP doctor, meanwhile, said they received death threats from inmates if they refuse to certify the gravity of their made-up illnesses. He revealed that Bilibid doctors were forced to certify that some inmates were so seriously sick that they could not be treated at the penitentiary and had to be taken to a private hospital. They faced death if they refused to do so, he added. “They sent funeral flowers to doctors’ homes, and even to three nurses,” the doctor said in Filipino. The attacks continue. On Sept. 2, corrections inspector Edgardo Ferrer was stabbed by an inmate at the national penitentiary’s maximum security compound. Ferrer was stabbed with a pair of scissors by an inmate who suffers from schizophrenia. The latest fatality, Ruperto Traya, was shot Aug. 27, a week after the scheduled release of convicted rapist-murderer Mayor Antonio Sanchez, which was scrubbed after public outrage at the news. Traya, an administrative officer at the

HK... From A1

thrown over security barriers surrounding the complex, which has become a frequent flashpoint in the ongoing protests. Local television networks broadcast footage of protesters tearing down and burning a banner celebrating the upcoming 70th anniversary of the founding of communist China – as well as burning a Chinese flag. As evening set in, protesters retreated, chased by riot officers and water cannon firing blue-dyed water. Some demonstrators built barricades, set fires and vandalized subway stations but the crowds avoided further direct clashes and largely ran away when ranks of police officers got close. The clashes ended a relative lull in recent days in the intensity of skirmishes between police and protesters.

cases are recognized, referred and treated early to prevent the onset of complications brought about by the disease; zero transmission, wherein after the prompt initiation of treatment of identified cases, contact tracing is pursued; and zero disease, wherein all those identified to have a potential risk of exposure to leprosy are given preventive treatment and observed continuously. Duque said this year’s Congress on leprosy emphasizes the need for a global partnership to create a world without leprosy. He said the government’s successes may be defined by the relationships that were made and continued to be made, the partnerships that bore the fruits of innovation and the resilience of the entire community. “Our long history of leprosy care is proof that if we are to achieve these goals, we must work together, Duque said. he has yet to certify this as urgent. “I am for it. The problem is—will it pass? In our country, after you finish your term, they would ask for your son to run, or your wife.” Anti-dynasty bill is unfair For Senate President Vicente Sotto III, passing an anti-dynasty bill is unfair and discriminatory. “An anti-political dynasty bill is unfair to legitimate family members. A wife or anyone in the second degree of consanguinity may not run for public office, but mistresses and their relatives may?” he said in an interview last year. Senator Ralph Recto, whose wife Vilma is the representative of the lone district of Lipa in Batangas, acknowledged that it will be difficult to stop political dynasties. Senator Cynthia Villar, for her part, said that her family is a “good dynasty” but vowed to abide by the law in an antidynasty measure is passed. “We always follow the law and we adjust to the law. Nothing personal,” she said. House Speaker Alan Cayetano, who ran and won as congressman of the first district of Taguig while his wife secured the position of representative of the second district, said he would rather have a political dynasty that serves the people. “We’d rather be called a dynasty, but one that delivers good public service.. As long as the people were able to freely make the choice themselves, that means that they were not forced. There were no guns, goons, and gold. It’s a democracy,” Cayetano said. prison bureau’s document processing division, was part of the team who processed the early release of Sanchez and the 1,913 other inmates. Yolanda Camilon, the first witness presented in the Senate probe, said she met Traya while negotiating with several prison officials for the alleged sale of GCTA that would release her husband from prison. She also told the Senate panel Traya had reportedly been paid by families of inmates, but failed to facilitate their release. However, she admitted having no personal knowledge of these incidents. Justice Undersecretary Deo Marco branded as “alarming” the latest attack on prison personnel. “There are reports that the inmates are already agitated.That’s why we have to put an end to all these issues,” he said. Another fatality was Juan Villacorta, a doctor assigned at the NBP Hospital, who was gunned down by gunmen on a motorcycle Jan. 7, 2014, along the national road in Barangay Putatan, Muntinlupa. Gordon quizzed Santos on the killings. The prison officials said he knew the prison personnel who were killed, but said none of the cases has been resolved. He recalled that authorities only caught one gunman behind the killing of a prison guard in 2013 or 2014. He noted, however, that one of the names on Gordon’s list, Supt. Roberto Rabo, actually died of cancer in February 2019. The once-stable international hub has been convulsed by weeks of huge, sometimes violent rallies calling for greater democratic freedoms and police accountability. The movement is the biggest challenge to China’s rule since the city was handed back by Britain in 1997 and shows no sign of ending. Under a deal signed with Britain ahead of the handover, Hong Kong is allowed to keep its unique freedoms for 50 years. But democracy activists accuse Beijing of reneging on those promises by tightening political control over the semi-autonomous territory and refusing calls for universal suffrage. Protest outside UK consulate Earlier on Sunday, protesters rallied outside Britain’s consulate in Hong Kong, demanding London do more to protect its former colonial subjects and ramp up pressure on Beijing over sliding freedoms. AFP

VP, Carpio draw flak over Du30’s oil deal remark By MJ Blancaﬂor MALACAÑANG on Sunday chided Vice President Leni Robredo and Supreme Court Senior Associate Justice Antonio Carpio for “finding fault” in President Rodrigo Duterte’s remarks about venturing into a joint oil exploration with Beijing amid the dispute in the South China Sea. Robredo on Friday described as “profoundly disappointing and extremely irresponsible” Duterte’s remark that he would “ignore” the 2016 Hague ruling favoring the Philippines in the dispute to give way to the oil and gas exploration deal with China under a 60-40 sharing agreement. Carpio said President Duterte had no authority to “set aside” Manila’s legal victory in the Hague-based court to push through with the exploration. In separate statements issued last week, Presidential Spokesman Salvador Panelo said the President deemed it wise and prudent to explore and develop natural resources even as the government continued to lobby for the resolution of the conflict in the disputed seas. Robredo and Carpio had developed a penchant for finding fault in every word that the President says, Panelo said. He said Robredo should “rely more on her instinct as a lawyer and mother protective of those she is constitutionally tasked to shepherd.” She should think about changing her advisers and tapping those knowledgeable about geopolitics and diplomacy. Panelo said the government would not undermine the country’s sovereign claims in the West Philippine Sea. “We find it amusing if not exasperating why some quarters keep on insisting at some hairsplitting alternate interpretations of the President’s foreign policy relative to the issue, Panelo said. Duterte had previously said that Chinese leader Xi Jinping had offered the Philippines a controlling stake in the proceeds of a joint venture if the country would set aside the 2016 ruling. Xi’s offer comes at a time when the country’s gas resources in the Malampaya fields are set to run out by 2024. “It would certainly be the height of folly and naivet if the Philippines were to ignore areas of investment that our country badly needs to fuel our rapidly expanding growth, Panelo said. The Permanent Court of Arbitration ruled in 2016 that the Philippines had legal rights to exploit gas deposits that China also claims in the Reed Bank, about 85 miles off the Philippine coast. The ruling also affirmed Manila’s sovereign rights over its 200-nauticalmile exclusive economic zone and rejected Beijing’s mythical and expansive claims in the South China Sea.

Oil... From A1

of crude and gas were affected by the attack. Saudi Arabia is the world’s biggest oil producer. Analysts have raised fears that the damage could push up prices by as much as $10 per barrel of oil. Others fear it could bring global oil prices to as much as $100 per barrel. The forecast oil price increase would end three consecutive oil price cuts due to the impact of the US-China trade war. On Sept. 7 to 19, the oil companies implemented a price cut of P0.50 per liter of gasoline, P0.10 per liter of diesel and P0.25 per liter of kerosene. The Energy department has said the year-to-date adjustments now stand at a net increase of P4.16 per liter of gasoline, P3.17 per liter of diesel and P1.01 per liter of kerosene.

Trackers... From A1

The Chiong sisters were raped and killed in July 16, 1997 in Cebu. In May 1999, a regional trial court in Cebu sentenced the seven accused, namely Balansag, Caño, Aznar, Uy, Francisco Juan Larrañaga, James Andrew Uy, and Rowen Adlawan, to death by lethal injection, which was later changed to life imprisonment after the death penalty was abolished. Larrañaga, a Spanish citizen and great grandson of former President Sergio Osmeña Sr., has been serving his sentence in Spain. Meanwhile, Justice Undersecretary Markk Perete said the Bureau of Immigration is still verifying the whereabouts of 28 released convicts. With PNA

News

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Watchdogs clear AFP-telco deal—military Eight generals T vying for top military post

THE names of possible replacement for outgoing Armed Forces of the Philippines chief-of-staff Gen. Benjamin Madrigal Jr. have already been forwarded to the office of President Rodrigo R. Duterte, Brig. Gen. Edgard Arevalo said Sunday. Arevalo, military spokesman, said the list drawn up by the Board of Generals contained the names of “between seven and eight” three-star generals still in active service. Arevalo also stressed that those in the list have “proven competence, integrity and managerial and leadership acumen.” “The next [AFP] chief-of-staff is expected to continue the programs and the operational thrusts of the current leadership, especially pursuing the guidance of President Duterte to finish insurgency within his term so as you know he has less than three years to complete that. So he is expected to be able to continue [with our] operational gains, and the same time implement adjustments in the plan in order for us to defeat decisively [the] New People’s Army,” Arevalo pointed out. Arevalo said the change-of-command ceremony for Madrigal’s successor will be held on Sept. 24 as arranged between the AFP and the Office of the President. Madrigal will reach the mandatory retirement age of 56 on Sept. 28. Earlier, the outgoing AFP chief said it is not for him to recommend any successor as it is the prerogative of the Chief Executive to pick his new AFP chief. Madrigal took over the helm of the AFP on Dec. 11, 2018 replacing Gen. Carlito Galvez who bowed down after reaching the mandatory retirement age of 56. He is a member of Philippine Military Academy Class of 1985. PNA

Go broaches idea of arming firefighters By Macon Araneta NEOPHYTE Senator Christopher Go is considering authoring a bill that will give firearms to firefighters so they can help in President Rodrigo Duterte’s war on criminality. Although arming the firefighters is not a part of his Fire Modernization Bill, Go, however, said he might just add such provision. But he wanted that his Senate Bill (SB) 204 first be passed into law. “So that aside from firefighting, they can help in the campaign against criminality,” Go added. Go said his team is exploring how firefighters can also help in law enforcement efforts of the government. Go expressed confidence that SB 204 or the ‘Act Strengthening and Modernizing the Bureau of Fire Protection will become a law because the President fully supports it. The President mentioned the bill in this year’s State of the Nation Address, Go said. The proposed measure aims to improve the current state of the Bureau of Fire Protection, giving them better equipment and resources. It also intends to provide modern fire equipment and hire more personnel to strengthen manpower and trainings for firefighters. “Their equipment should be replaced. They should have additional equipment. I have witnessed that everytime there was a fire, our firefighters really lack the needed equipment, he said. As of 2017, BFP has 2,674 fire trucks, short by 932 units of the ideal number in the whole country. In fact, around 400 municipalities nationwide do not have their own fire trucks, BFP said. The Commission on Audit report also indicated that at least1,094 or 39.3 percent of these units owned by the government were purchased between 1950 and 1999, with at least eight acquired between 1950 and 1999. On an average, the useful lifespan of a fire truck is five to 15 years only.

HE Armed Forces of the Philippines on Sunday said the co-location memorandum of agreement with Dito Telecommunity (formerly Mindanao Islamic Telephone Co. or Mislatel) passed scrutiny before being signed by the military. AFP spokesperson Marine Brig. Gen. Edgard Arevalo allayed the fears of some sector that the agreement could be utilized for espionage activities. “The signing of the MOA between AFP and Dito Telecommunity, [formerly Mislatel], it must be taken in the light of three reasons. Number one, this passed thorough government scrutiny when it comes to its ﬁtness to do business in the Philippines there are government regulatory agencies like Securities and Exchange Commission and the National Telecommunications Commission,”

Arevalo said. “Second, what we give them when we say allowing them in the military camps, is venue for their communications facility, he added. Dito Telecommunity is composed of Chelsea Logistics and Infrastructure Holdings Corp., Udenna Corp, and China Telecom. It was conferred with the status of New Major Player in the telecommunications industry by the National Telecommunications Commission on Nov. 19. The AFP and Dito signed the co-location MOA last

Sept. 11. “Basically what we are providing is the venue kung saan [where] we will be able to lend them yung [the] relative security na maibibigay nung sinsasabing MOA na yun at yung mga locations na, kasi alam na ng AFP yung mga magagandang locations kung saan pinakamagandang magpropagate ng [that the MOA can provide and those locations, because the AFP knows better locations that can propagate best] signal so that’s the second reason,” Arevalo said. “And the third reason is the AFP has already put up appropriate safeguards to address that particular concern of security and data security in telecommunications,” Arevalo stressed. The AFP spokesperson also said this third telecommunication company is in response to the “longing of the people to

have better service.” “People long for a better service when it comes to telecommunications, so this is the third telco that they were asking; the AFP is supporting them and that’s why we embarked on this memorandum of agreement,” he added. Earlier, AFP chief-of-staff, Gen. Benjamin Madrigal Jr., said there are ongoing efforts and activities to secure all military communications from espionage. Also, Madrigal said partnering with Mislatel is nothing new as similar MOAs have been secured by private telcos Smart and Globe. Based on the agreement, the AFP will determine speciﬁc locations with its rental value for use of Mislatel in the installation and management of its communications sites without undermining the operations of affected AFP units. PNA

Opinion

MONDAY, SEPTEMBER 16, 2019

EDITORIAL

Solving EDSA FINALLY, we have an EDSA proposal based on a study and not merely on a simple guessing game. Last Friday, true to his promise he made last month at a media forum, House Transportation Committee chairman and Samar Congressman Edgar Mary Sarmiento bared the blueprint of his proposed centralized and synchronized bus dispatch system which he said, could turn EDSA's rowdy and chaotic city buses into a fast, efficient and predictable mass transport system.

Any sound proposal should be backed by serious research. In his proposal, Sarmiento, a civil engineer, said that the innermost lane of EDSA will serve as an "express bus lane" that can be accessed through stations used by the MRT. Like a carousel, the "express bus lane" will just circle around EDSA, duplicating the route of the MRT. Sarmiento said that if this is adopted, people who use the MRT can now have the option to ride the bus which will be also operated like carousel as the buses will only load and unload passengers in

Adelle Chua, Editor

a synchronized manner at the MRT stations so they are basically an extension of the MRT. Sarmiento said that with his proposal, there will be no traffic along EDSA as the entire inner lane from Taft Avenue to North Avenue and vice-versa will be enclosed and exclusive to the express bus lane. Sarmiento said that the three lanes at the middle of EDSA will be dedicated for all types of private vehicles subject to the existing vehicle reduction programs like the number coding scheme. Private cars will be only allowed to use the outer lane when turning into an intersection. The outer lane of EDSA or the yellow lane will be used as a dedicated city bus lane which will also adopt a centralized and synchronized dispatch system. Dedicated bus stops will be established one kilometer apart. Loading and unloading of passengers will be strictly implemented on these bus stops. Sarmiento said that while the express bus lane will cater to passengers who also use the MRT, the city bus lane operation will extend up to the Parañaque Integrated Bus Terminal in the south and the Valenzuela Integrated Bus Terminal in the north and vice-versa. It is suggested that city buses use the outermost lane on EDSA or the yellow lane, in a carousel-type system until they reach the Valenzuela Integrated Bus Terminal. From Turn to A5

All in the family

ORE than three decades ago, the people ratified the 1987 Constitution, which many saw as a reformist document aimed at addressing the ills and abuses of the past. Aimed at preventing the monopoly of elective positions by a few powerful clans, Section 26 of the Declaration of Principles and State Policies clearly states: “The State shall guarantee equal access to opportunities for public service, and prohibit political dynasties as may be defined by law.” Yet every year since 1988, the control of political dynasties has been growing by about 1 percent of all local elected positions, such that they now possess 29 percent of these posts, a study by the Ateneo School of Government showed. "Fat dynasties"—families whose members simultaneously hold elective posts—occupied 19 percent of all local elected positions in 1988. Since then, the number has grown across gubernatorial, vice gubernatorial, congressional, mayoral, vice mayoral, provincial board member, and councilor posts, the Ateneo study shows. About 57 percent of governors were fat dynasties in 2004. This swelled to 80 percent after the 2019 midterm elections. The same was

seen among congressmen where fat dynasties accounted for 48 percent in 2004 and 67 percent by 2019. The same trend can be seen in positions for vice governor, mayor, provincial board members and councilors. "Research suggests that more fat dynasties weaken checks-andbalances in our democracy, leading to bad governance, and consequently weaker development outcomes," says ASoG Dean Ronald Mendoza. "Fat dynasties" are also more prevalent in poorer provinces with unfavorable business climates and low levels of development. Among all provinces, Maguindanao had the highest percentage of fat dynasties, with half or 51 percent of elected posts occupied by political clans with two or more family members in office. This was followed by Pampanga (49 percent), Bulacan (45 percent), Davao Occidental (41 percent), Isabela (41 percent), and Sulu (40 percent). From a legal perspective, politi-

cal dynasties continue to exist because there is no enabling law that would institute the prohibition in Section 26 of the Constitution. Attempts at passing such a law have failed over the last 30 years, largely because lawmakers from powerful clans have a vested interest in seeing to it that such legislation never prospers. Mendoza suggests that instead of an outright ban on dynasties, it would be best to regulate them by prohibiting family members from serving simultaneously in office, while allowing them to serve in succession. This compromise, he suggests, might help level the electoral playing field for all. But even a law may not be enough. On a more fundamental basis, political dynasties thrive because voters simply keep voting mindlessly for candidates with the same family name, unable or unwilling to break from inertia or “tradition.” Clearly, some kind of voter education will be required. "Give a chance to others. Our democracy is not a family business," Mendoza says. We fully subscribe to this view, but we should also recognize that for this to happen, voters will have to begin thinking for themselves.

Numbers more than letters

THOSE who quietly work in their laboratories, poring over numbers and coming out with formula after formula, contribute infinitely more to the betterment of life in this planet than those of us who use letters to talk and talk, debate and quibble over rights and legalese. Of the eight million who graduate from the universities of China, twothirds finish science and technology or mathematics and specialized IT courses. There are 300-million people in the United States of America. There are one million lawyers. In contrast, China has almost 5 times more the population of the US of A, but there are only some 300,000 lawyers in the country. I am sure the ratio in Taiwan is also lopsidedly in favor of scientists, engineers, physicists and IT experts, rather than lawyers and politicians. This was one of the topics of my conversation over a mid-autumn celebration dinner with a barrister from Hong Kong, who firmly believes that in a protracted US-China trade war, China would eventually win. “Sure, Chinese companies stole certain intellectual property rights mostly from Silicon Valley at the beginning of their great economic leap,” my barrister-friend admitted. “But now, Chinese scientists and innovators have levelled up and beaten America in technological advances. A clear example is Huawei and 5G innovation, and in the very near future, 6G, 7G…,” he explained. “On the other hand, American farmers are chafing over the results of Trump’s tariff walls as trade war tool. As far as China is concerned, they can always buy corn and soybeans from South America, or lease lands in other more hospitable Asian countries to ensure its food supply sources, if Trump remains intransigent, or loosen up and import from the US, as carrot in the negotiations,” he said.

In that mid-autumn celebration, my barrister-friend introduced several fund managers, inventors, IT app creators, and entrepreneurs from Shenzhen, Guangzhou, Jiangsu, and Taiwan, and most of them were in their thirties and early forties. What impressed me most, and the same is true for Taiwan, is how the educational focus is on science and technology, and applied mathematics. In the Philippines on the other hand, the results of the bar exams are always front page news, and lawyers are placed in a pedestal in our educational hierarchy. Not that lawyers are useless. They do serve a purpose. It’s just that they are not as important as scientists and engineers, or even farmers in building an economy, or in job creation and in-

China’s and Taiwan’s spectacular economic growth happened only over the past 40 years, and it’s not because of lawyers. come generation. In this day and age, numbers matter more than letters or words, whether written or spoken. Technical formulae developed by the human mind trained in math and applied to daily lives matter much much more than debates in the legislature or harangues in committee hearings. China’s and Taiwan’s spectacular economic growth happened only over the past 40 years, and it’s not because of lawyers. Speaking of Hong Kong, I flew in for my friend’s celebration and flew out the following day. Lo and behold, it was my first time to see no long, snaking queue in immigration, just a single line, and I breezed past it within five minutes. The arrival area was eerily quiet, and the airport express train to the main island at best a fifth of its capacity full. Hotel rates were so low. Last year, Turn to A5

New child protection rules unsettle YouTube ‘creators’ By Julie Jammot SAMUEL Rader quit his job three years ago to work full time on his YouTube channel, "Sam and Nia," featuring videos of his family life. The channel created by the Texasbased couple—with videos of their Hawaii vacation, setting up their backyard pool and other content about "Christian family life"—has become one of the stars of the Google-owned

video service with some 2.5 million subscribers. But the future is now uncertain for "Sam and Nia" and other YouTube "creators" as a result of a settlement with US regulators that will make it harder to get ad revenues from videos and channels directed at children. "I went into a minor panic attack when I heard," said Rader, whose channel has taken in a reported $2 million from ads placed along the videos.

"I thought we would have to find a new source of revenues." YouTube earlier this month agreed to pay a fine of $170 million and change how it handles collected data from children under a settlement with the US Federal Trade Commission. YouTube will treat data from anyone watching children's content on YouTube as coming from a child. It will also stop serving personalized Turn to A5

Rolando G. Estabillo Publisher can be accessed at: manilastandard.net Published Monday to Sunday by Philippine Manila Standard Publishing Inc. at 6/F Universal Re Building, 106 Paseo de Roxas, corner Perea St., Legaspi Village, Makati City. Telephone numbers 832-5554, 832-5556, 832-5558 (connecting all departments), (Editorial) 832-5554, (Advertising) 832-5550. P.O. Box 2933, Manila Central Post Office, Manila. Website: www. manilastandard.net

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Opinion

MONDAY, SEPTEMBER 16, 2019

1,200 new megawatts by December

Jammed THE FIFTH GOSPEL JUDE ACIDRE THERE is a continuing injustice committed on our roads every day here in Metro Manila. No, I am not talking about petty street crimes or even heinous criminal activities. I am referring to the horrendous traffic that is on EDSA every day of the week. Come to think of it, ordinary employees who work eight hours a day have to leave their house at least two hours ahead to beat the morning traffic or to queue up at the MRT station. At the end of the day, they have to spend another hour or two trying to get a bus ride home or waiting for their turn at the MRT. All in all, that is 12 hours of a 24-hour day. Not even those who book on Grab are spared, if not from the traffic— from the increased fare surge. This is an injustice because three to four more hours, in addition to the eight hours of work, is snatching three to four hours less of their family time, or from their well-deserved rest. I very seldom drive, if at all I do, here in Manila, and every time the car is stuck in rush hour traffic, I try my best not to complain, and I remind myself that it is even worse for those taking public transportation. The economic cost of traffic congestion in Metro Manila is estimated to amount to P3.5 billion daily, that is according to Follow Up Survey on the Roadmap for Transport Infrastructure Development for Greater Capital Region (2017) prepared by the Japan International Cooperation Agency. If interventions are not made, it can get worse to P5.4 billion by 2035. We have not yet even zeroed in on the physical, social and social toll traffic has caused on workers and their families. While other megacities are now simulating traffic congestions in 30 to 40 years and building the right infrastructure to address these projections, we are stuck with decades-old problems still wanting of durable solutions. So, what must be done? One doesn’t need to be an expert to conjure the possible solutions. I am not a traffic engineering ex-

New child... From A4

ads on this content entirely, and bar features such as comments and notifications. The new rules, set to go into effect in four months, have stoked fears in the YouTube community of creators and "vloggers" like the Raders, who live off the advertising revenue.

Shock, grief, fear "There's a lot of shock, grief and fear. For many creators, this is their only source of income," said Melissa Hunter of the Family Video Network, a consultancy which also operates a group of channels on YouTube. "They are people making content in their houses, not huge companies; they're small homemade businesses." Many questions remain as to how YouTube will define children's content—intended for kids up to age 12— which will be subject to the new rules. Rader said he has been advised that "we are a low-risk channel because our content is not targeting children." YouTube is believed to have mil-

Numbers... From A4

we had to stay at North Point for an annual family gathering in November, and we paid almost double compared to what I paid for an upgraded hotel room in the city center. The protests, now going on its fourth consecutive month, has really taken its toll on Hong Kong’s tourist-driven economy. And although the opening of classes has somehow abated the ferocity and frequency of the protests, the is-

pert but let me share the lessons that I have learned from the ever-demanding Sims citizens of my favorite computer game SimCity. If you ask me, we need a mass public transportation system that has least four components: A bus stop system, a unified bus dispatching system, integration of GPS technology and full implementation of the compensation system for bus drivers. First, a bus stop system is crucial. Without one, buses will stop as they please. Commuters will crowd wherever they want. The worst happens during rush hours when frustrated

Our hardworking people deserve so much more than this. commuters use up two to three lanes of EDSA rushing to catch up the next bus. But we need more than just the usual bus stop system. The type of infrastructure is important because as they say, environment shapes behavior. In Jakarta I remember seeing the stations of the bus rapid transport system located in the middle of the highway. One would need to use the overpass to get to the bus station, so no reason anymore for the obstructing crowds by the road side. The bus stops were elevated by almost a meter high, and so were the bus doors. Therefore, it is only possible for a commuter to get on and off the bus only at the designated bus stops. While waiting for the bus stops to be constructed, our MRT stations could be retrofitted for this purpose. If we were to apply the same idea to EDSA, then we would have to transfer all city buses to the innermost lane closest to the bus stops now in the middle of the highway, provincial buses on the next lane, leaving three more lanes to private vehicles. Second, of course a bus stop system alone will not work. We need to have a unified dispatching system. With bus ports at both ends of EDSA, buses must be dispatched at regular intervals so as not to clog up the highway. This proposal has been there for so long—but allow me to make another suggestion—repaint all buses for them to look the same: No markings except for the

license plates and bus numbers. All city buses could be painted all-white, and provincial buses in another color. This way, not only will it be easy for commuters to differentiate provincial from city buses, but it will reinforce upon bus drivers and their operators of the fact that transport buses are public utilities. Buses operate on a franchise issued by the government, consequently, they must do business not on their own terms, but in strict compliance with the government. Granted that we need to rationalize the number of provincial bus stations along EDSA, it is important also that we provide a feasible alternative for our province-based commuters. Third, we need to enforce traffic laws must efficiently, but with minimum intrusion so as not to create another traffic build-up. Today’s technology offers several ways to solve this—including the integration of GPS technology so that MMDA can monitor the location and speed of each and every public bus plying EDSA. This will allow them to monitor in real-time possible traffic violations, and readily determine the causes of traffic congestion. On the part of the driver, having a GPSbased monitoring system in place will instill discipline, lest they want to risk violating traffic rules. To ensure compliance in the use of the GPS system, buses, without a working GPS system installed, will not be allowed to use the bus stops, Fourth, of course, we need to ensure the full implementation of fixed compensation system for drivers. With a fixed salary and performance-based incentives in place, we can expect better drivers and safer roads. It may be of cost to operators at the onset, but in the long run, we can look forward to more professional bus drivers commandeering our public buses. For Congress, one more thing needs to be done to correct the injustice: Give the President the emergency powers needed to address the traffic situation on EDSA. For every hour and day that traffic on EDSA stands still, is one more hour and day of injustice done to our everyday commuters. Our hardworking ordinary workers deserve much more than this. Until then, we hope that those who have the responsibility and the opportunity to do so, will haste to do the right thing. This injustice must end now.

lions of content creators on its network, who share in the service's ad revenues, estimated to be more than $10 billion annually, though it is unclear how much of YouTube's content is directed at children. In announcing the new policy, YouTube chief executive Susan Wojcicki acknowledged that "these changes will have a significant business impact on family and kids creators who have been building both wonderful content and thriving businesses, so we've worked to give impacted creators four months to adjust before changes take effect." Wojcicki added that YouTube is "committed to working with them through this transition, and providing resources to help them better understand these changes," and would also establish a $100-million fund "dedicated to the creation of thoughtful, original children's content." Critics of the internet giant said YouTube marketed itself as a destination for children and benefitted by selling advertising to toymakers and others. FTC chairman Joe Simons said the settlement "prevents YouTube and

Ending targeting? YouTube and creators may still be able to generate revenue from video ads as long as they are not targeted based on data collected from children, although these are far less lucrative. "Advertisers do spend more for trackable, measurable placements," said Nicole Perrin, an analyst at the research firm eMarketer. "I'm not sure there is a way to comply with this for kids without limiting some of the revenues on that side." Shaun McKnight, whose Dallasbased M-Star Media has created several popular YouTube channels which have attracted millions of subscribers, said he and his wife anticipated changes were coming. "My wife and I thought it was too risky so we pulled back," he said. AFP

sues still simmer, and the opposition to the government leaders if not the system itself has created a life of its own. The hows, whens and whys of the political developments in the Crown Colony that has now become a “special autonomous” territory of China bear continued watching. *** Meanwhile at home, the BuCor mess keeps unraveling, as the Senate Blue Ribbon committee hearings peel off one sordid revelation of corruption after another.

Thus, the Department of Justice under Sec. Meynard Guevarra is proposing to amend the law that supposedly strengthened BuCor while diminishing DOJ’s control over it. Left largely unsupervised by higher authorities, our penitentiary system has become a cesspool of corrupt practices where practically everything is for sale. Oh, and please, when you do revise the law, would you please do away with those shoulder boards or epaulettes that give high officials of the Bureau of Corrections the privilege of displaying

Google from turning a blind eye to the existence of kids-directed content" on its platform. Hunter saidthe creators of family content may collect anywhere from $30 to $100,000 per month, but that "those families are going to make almost nothing on January 1" when the new rules come into effect.

The urgency to build new and efficient power plants not just to replace the obsolete ones that are so inefficient and therefore expensive to operate puts pressure on the DOE to move fast just to close the 10,000 MW gap THE Competitive Selection Process in baseload capacity requirements in is indeed an important policy reform the next three years. finally being implemented by the DeAccording to DOE estimates, by partment of Energy after long consul- 2040, we will be needing an additations and debates with stakeholders, tional 43,765 MW of baseload caindustry and government regulators. pacity. With only 1200 MW coming Fortunately, legal tussles, an expected online in December, simple arithmereality with game changing policies, tic shows that we will need to build have been resolved by the Supreme 42,565 MW more. court order upholding the 2018 DOE Compounding this challenge are Circular on the CSP. the bureaucratic delays in permits Responding to a looming energy that will eat-up around three to five crisis, DOE Secretary Alfonso G. years before a power plant can opCusi rightly put pressure on Distri- erate. Plus, the anti-development bution Utilities to immediately start groups disguised as environmental or addressing their backlog of Power pro-poor advocacies who’s full time Supply Agreements under the CSP job is to attack government and bloc process aimed to benefit consumers projects that have strategic impact to by instituting a bidding process to en- national development. sure lower generation costs. Why? Because more economic First to respond successfully was development and prosperity makes Meralco with its recent announcement their reason for existence irrelevant. of the successful If you try to read bidding of 1,200 into all their proMegawatts contests, they are tract awarded to anti-government, I hope the Supreme PHINMA Energy anti-big business, Court sees the folly of Corp., San Miguel anti-development Energy Corp., and this group’s tactic. and offer no real South Premiere solutions. Power Corp. The Their objective results were even lower than the Lev- is not to offer solutions. Their objecelized Cost of Energy cap and was tive is to discredit the system, create based on a non-discretionary Pass discontent, destabilize the governor Fail assessment administered by a ment, creating an untenable situation Third-Party Bids and Awards Com- that opens the opportunity to seize mittee in compliance with the DOE’s power and establish a socialist dictacircular. These 10-year contracts are torship. expected to be operational in three These leftist groups found another months’ time. Representatives from target as Bayan Muna partylist filed the DOE and several generation com- a petition for a temporary restrainpanies witnessed the proceedings and ing order based on suspicions that found the process effective and ex- the issuance of a 2015 DOE Circular pressed their appreciation describing 2018-02-003 allowing the entry of a the results as “pro-consumer.” third party recognized by the Energy The “all-in” rates provided by the Regulatory Commission and National successful bidders already include Electrification Administration makes line rental, VAT, and the cost of pow- the CSP vulnerable to manipulation. er replacement for all plant outages. Ironically, they were part of the clamThese energy companies are also ob- or for the immediate implementation ligated to pay a fine if they are unable of the CSP. Now they are questionto deliver the agreed power. ing the first successful bid and want to stop 1200 megawatts from going Urgency for more megawatts online. Consumer advocacy group CitizHopefully, the Supreme Court will enWatch.ph has repeatedly echoed see the folly of this tactic and fathe DOE’s warnings of increasing vor the strategic significance of the incidence of yellow, red alerts and DOE’s first successful CSP. Meralpower outages as shown by data co’s template should spark a surge of gathered from the group’s daily pro-consumer bids to reboot the long monitoring of power the situation in pending PSAs stranded for years in the Luzon grid plants (Power Plant bureaucratic limbo. Watch). If we don’t get these megawatts in To support the economic activities time, the first to suffer from the inneeded to sustain the country’s eco- convenience, the inflationary effect nomic momentum, we need to have of brownouts and higher power rates enough megawatts to power the fast- will be the poor sectors of the country growing demand. The cost and reli- which, ironically again, these leftist ability of power has been a negative groups so loudly shout to represent factor in attracting more employment- and fight for. Deceivingly, this is their generating foreign direct investments. objective.

Solving... From A4

there, the city buses will traverse to the south still using the outermost lane until it reaches the Parañaque Integrated Bus Terminal. Sarmiento clarified, however, that his proposal can still be subject to improvements and adjustments by the DoTr and the MMDA which is will the frontline implementing agencies. Aside from the carousel-type bus system in EDSA, it is proposed that another carousel-type bus system be operational in other major thoroughfares of Metro Manila. Now, that is one serious proposal to address EDSA’s traffic situation. stars on their shoulders, much like military or police generals? They remind me of the Italian polizia, long ridiculed by their more efficient counterparts in Europe as “all form and little efficiency.” As saving grace, the Italian police and their carabinieri always try to look “snappy”; our BuCor officials, epaulettes and all, look as “shabby” as their competence and corruption sucks. *** As we write this article, we learned that former senator and former Cebu

Unlike that of Senator Grace Llamanzares who reportedly proposed the construction of an elevated walkway along the length of EDSA to enable people to walk to their destination. While that may sound nice—I have been suggesting all along to reduce the number of bus stops which I believe contribute to traffic build-up— Llamanzares’ proposal is good only up to a kilometer of walking at the most, and not for the whole 16-kilometer stretch. If she really wants to help solve EDSA, she should start doing some serious research. Maybe she could start by asking Sarmiento, or even former traffic czar, Retired General Florencio Fianza. governor Rene Espina passed away after a lingering illness. Rene was UNIDO secretary-general and I was his deputy when we were still struggling against the Marcos dictatorship in the early and mid-eighties under the leadership of Salvador “Doy” Laurel. A gentleman politician of the “old school,” I learned so much from Senator Rene as political mentor. My profound condolences to Tita Pining and the Espina sons, Mari, Jean and Erik.

News

MONDAY, SEPTEMBER 16, 2019

mst.daydesk@gmail.com

Solons file bill addressing extremism in Mindanao By Rio N. Araja TWO lawmakers from Mindanao filed House Bill No. 4585 to deter and counter violent extremism. Basilan Rep. Mujiv Hataman and Anak Mindanao Rep. Amihilda Sangcopan authored the proposed measure to address the problem of terrorism, following the recent string of bombings in Mindanao. “Violent extremism has no place in a peace-loving society, such as ours. It takes lives, hurts people, stunts progress and strikes fear into the heart of peaceful communities,” the lawmakers’ explanatory note read. The measure defines extremism as act that “corrupts religious beliefs and distorts moral standards to serve a vicious end: That is to pursue a political cause through acts of terrorism. Last June, a military camp in Indanan, Sulu was bombed that left five people dead, while violent extremist groups bombed a public market in Isulan, Sultan Kudarat last Sept. 7, during which seven people were hurt. On Sept. 9, one bombing incident occurred and took the life of the suicide bomber herself. “This bill is aimed to reduce and address violent extremism and terrorism, and encourage rebels to return to the folds of the law,” Hataman said.

Freshwater aquaculture training pushed By Macon Ramos-Araneta THE biology and culture of famous tilapia in ponds and cages is among the modern food technology that would boost the country’s food production and spur economic growth, said Senator Cynthia A. Villar. Realizing the importance of modern food technology, Villar said she has been pushing for the training of trainors on Freshwater Aquaculture Training course. On Friday, she said another batch of trainors graduated from the Freshwater Aquaculture Training course. Villar, chairman of the Senate agriculture and food committee, said they will be fielded to teach farmers and fisherfolks in the different parts of the country. The senator, who is also the director of the Villar Social Institute for Poverty Alleviation and Governance congratulated the 30 graduates who came from the National Capital Region, Cavite, Laguna, Batangas, Romblon, Quezon, Mindoro Oriental and the Bicol Region, during the closing rites at the Villar SIPAG Farm School in Bacoor, Cavite. “As trainors, we now depend on you to spread the knowledge downloaded to you by the experts. When you go back to your respective provinces and communities, share to your colleagues what you have learned,” she said. The five-day training Villar SIPAG conducts in partnership with the Bureau of Fisheries and Aquatic Resources, involves biology and culture of tilapia in ponds/cages where trainees learned to breed and culture GET-EXCEL Tilapia, Red Tilapia and Ulang. The participants also learned how to culture natural food for fish; and to safe keep and inventory data related to fish culture. Trainees were also taught fish health management such as fish and shrimp diseases and treatment, handling water quality as requirement for aquaculture, and managing fish kill investigation. They were also briefed on the process of farm registration/ accreditation. Fish processing was also included in the program.

MRT 3 REHAB QUESTIONED. Sammy T. Malunes (left) of Riles Network and Rodolfo ‘RJ’ Javellana, president of the United Filipino Consumers and Commuters called on the Senate and Congress to investigate the P18-billion five-year rehabilitation project of the MRT 3 system. Javellana demanded that the DOTr disclose the datails of the said project during a press conference held in Quezon City. Manny Palmero

Firms seek to continue doing business in MRT 3 C

OMPANIES dealing with a unit of the private owner of the Metro Rail Transit Line 3 System have proposed several courses of action to the government to allow them to continue doing business on the vital railway—and keep their enterprises running—despite MRT Development Corp. not paying its dues to the Department of Transportation.

Division lifted the writ of preliminary injunction issued by the Regional Trial Court in Pasig City on July 18, 2016. This had compelled the DOTr, then called the Department of Transportation and Communications, to issue the necessary access or work permits to the MRTDevCo to allow the company to fully exercise its rights over MRT 3. MRTDevCo is a unit of MRT 3 private owner MRT Holdings. The RTC in Pasig City issued the writ of preliminary mandatory injunction upon MRTDevCo’s posting of the P130-million injunction bond, court records showed. The DOTr earlier claimed that from 2001 to 2004, the MRTDevCo paid according to the agreed DRP schedule under their BLT agreement covering the construction and operation of MRT 3. However, on July 21, 2004, the MRTDevCo ceased paying the DRPs despite repeated demands by the thenDOTC. Early in 2013, the Transportation department then stopped issuing access or work permits to the MRTDevCo, its advertisers and lessees, barring their entry to the MRT 3 system. On May 7, 2015, the Commission on Audit issued to the DOTr an Audit Observation Memorandum noting the unpaid amount of P981,354,501, representing the DRPs from MRTDevCo since 2004.

In an executive brief obtained by Manila Standard, the companies proposed that they be allowed to pay their fees to the Transportation Department until 2025 so the government agency could grant them work permits and access to the MRT 3 system, and thus allow them to continue doing business. The ﬁrms also proposed that the DoTr cancel its Build-Lease-Transfer agreement with MRTDevCo. based on the latter’s non-payment of Development Rights Payments since 2004. The third alternative, the companies said, were to put their Monthly Guaranteed Feeds to MRTDevCo. in an escrow account until the funds could be released after arbitration proceedings between the DoTr and the MRTDevCo., currently ongoing in Singapore, are ﬁnished. The companies, which have signed management contracts with MRTDevCo.,

said they could not conduct their business on the train line as the Transportation department had stopped “issuing access and/or work permits” to the MRT firm. These firms said they had been paying MRTDevCo. Monthly Guaranteed Fees for the last five years, from P12.5 million per month in the first year up to P21.86 million a month in year five. But without access to the MRT 3 system, they could not carry out their business and fulfill their obligations to their customers, the brief showed. In April 2018, the Court of Appeals barred MRTDevCo from exercising its advertising and commercial-leasing rights over the MRT Line 3 system pending the result of arbitration proceedings involving its DRP obligations to the government amounting to P2.3 billion. In a 23-page ruling penned by Associate Justice Pablito Perez, the CA’s Eleventh

Drug suspect shot dead in P27-m sting

Gov’t partners with dried mango exporter

POLICE operative shot and killed a suspect in a buy-bust operation, and seized four kilos of shabu worth P27.2 million in a gun and ammunition store in Quezon City. Sr. Supt. Ronnie Montejo, Quezon City Police District chief, said National Capital Region Police Office and Cubao’s Station 7 drug enforcement unit, and Philippine Drug Enforcement Agency conducted a joint operation against one Edgardo Labay Alfonso, 50, of Pasig City, in front of a gasoline station along P. Tuazon Avenue and 18th Avenue in Barangay San Roque on Sunday at 5:15 a.m. He said the suspect was among the target of an intensive anti-illegal drug operation under NCRPO Case Operational Plan. Alfonso is believed to be a member of a syndicated criminal gang operating illegal drug trade in Metro Manila, he added. Sensing a drug sting, suspect Alfonso shot the poseur-buyer and ran from 18th Avenue toward Del Pilar Street. He was cornered but instead of surrendering, he continued firing at the operatives, “who had no option but to fire back that caused his death.” “Continuous followup is being undertaken by NCRPO, Regional Drug Enforcement Unit for possible arrest of the main target and suppliers of the said illegal drugs,” Montejo said in a statement . Rio N. Araja

THE Philippine Center of Post-Harvest Development and Mechanization has partnered with the country’s largest exporter of dried mango in providing technical skills and assistance in the disposal of 16 tons per day of mango peels. At a news conference in Quezon City, Dr. Ma. Cristina Gragasin, PHilMech supervising science research specialist technology generator, said executives from the Misamis Oriental-based Amley Food Corp. approached PhilMech, sought help and expressed their desire to adopt the agency’s mango pectin extraction so they could turn their huge volume of mango peels into a more useful purpose. She said the adoption of the pectin extraction technology would be a major breakthrough for the company that exports 100 tons of ripe dried mango a month to the United States of America, Australia, Japan, Europe and even China. Hayley Kathleen Yu IMEE PROJECT LAUNCHED. Senator Imee Marcos with the support of Quezon City Mayor Joy Belmonte and other local officials launched ‘IMEEKadiwa,’ a program where prime commodities such as rice, sugar, sardines, cooking oil and detergents are sold at a lower price at Batasan Hills in Quezon City. Lino Santos

and Amy Chua, the company’s president and vice president, respectively, on Friday afternoon ﬂew to Metro Manila from Misamis Oriental for the signing of a memorandum of agreement with PhilMech. According to Chua, they process 80 tons of ripe mango a day. “At least 20 percent of that or 16 tons per day are mango peels that go to our four-hectare land area for composting for a period of one year,” she told the Manila Standard. “The organic compost is just given away for free. Now that we could extract pectin from our mango peels, we can explore other market opportunities,” she said. Gragasin said PHilMech is the registered owner of a utility model for pharmaceutical grade pectin from mango peels and a process of producing since 2013. “Pectin is a high-value product being used as gelling and thickening agent, and stabilizer in cosmetics, food and pharmaceutical industries,” she said.

‘Probe Custom execs, steel producers’ BUHAY Party-list Rep. Joselito Atienza on Sunday called on the government to investigate the alleged corruption between Bureau of Customs officials and big steel producers for smuggling. He lamented that the Customs Modernization and Tariff Act was passed in 2015, but was never implemented, especially the preinspection provision under Section 440 that a container van must be inspected at their port of origin. “The huge amount of tax revenues the government is losing due to this malpractice could be used to fund infrastructure projects under President Rodrigo Duterte’s build, build, build program aimed to fix the transportation system to ease the commuters’ daily burden,” he said. He urged BOC officials to implement the pre-shipment inspection of all cargo vans entering the country. Dante Jimenez, Presidential AntiCorruption Commission chairperson, cited possible misdeclaration in the importation documents submitted by the big steel manufacturers.

Palace mourns passing of Espina MALACAÑANG on Sunday extended its condolences to the family and friends of former Senator Rene Espina, who was credited for crafting the country’s ﬁrst anti-drug law. He passed away on Friday at the age of 89. Espina authored Republic Act No. 6425 or the Dangerous Drugs Act of 1972 which was the precursor of Republic Act 9165 or the Comprehensive Dangerous Drugs Act of 2002. He served as Cebu governor and secretary of the Public Works, Transportation and Communications during the Marcos administration. At 33, he became the youngest administrator of the Social Security Services during the Macapagal administration. “The Filipino people are indeed grateful for the long track record of public service Senator Espina gave to the nation,” Presidential Spokesman Salvador Panelo said. His remains are laid at Our Lady of China and Matteo Ricci Chapels in Sacred Heart Church in Cebu City for viewing. MJ Blancaflor

Pay rights of way DOTr, DPWH told HOUSE Deputy Speaker and Surigao del Sur Rep. Johnny Pimentel on Sunday said the Department of Transportation, and Department of Public Works and Highways will need P63 billion to pay just compensation for rights of way under the build, build, build program of the Duterte administration. DoTr would need at least P19 billion, while DPWH shall have a budget allocation of P44 billion, he said. “To foster greater transparency, we are renewing our call for both departments to post on their respective websites the list of payees, the amounts paid and the properties acquired to pave the way for infrastructure projects,” he urged the two agencies. Rio N. Araja

Sports Manila Stars stop Makati Risers, 64-56 BALANGA—Manila overpowers Makati, 64-56, in the battle of MPBL biggies Saturday night at ﬁrmed up its hold of the solo second spot of the ongoing Lakan Season at the People’s Center here. Engaged in a defensive struggle by the Super Crunch, the Stars put the clamps down on their rivals in the fourth period, holding them to just nine points in the last 10 minutes on their way to notching their 11th win in 13 games in the tough northern division of this tournament put up by Senator Manny Pacquiao with PBA legend and former MVP Kenneth Duremdes serving as commissioner. Gabby Espinas and Gian Abrigo combined forces and put up 21 points and nine rebounds together, but the rest of the Stars were also more busy forcing turnovers on their rivals, who turned the ball over 23 times. Makati absorbed its third loss in 13 games and slipped to No.3 spot of the northern division of the fastest growing regional amateur basketball league. Marikina stunned Navotas, 88-80, as Yves Sazon and Chris Calaguio kept their guns blazing. Sazon erupted for 23 points, including four three-point shots. Calaguio, plucked out from retirement since last playing for San Miguel Beer more than a decade ago, added 13 markers for the Shoemasters, who just picked up only their second win in 14 games. Despite the win, Marikina remained at the bottom of the northern division. Jondan Salvador ended up with an unusual double-double showing as he grabbed 17 rebounds and dished out 11 assists. Batangas City survived a gritty Bataan team which played with only eight players, 73-69. The Risers paraded a team with a new set of management and coaching staff, headed by Jonas Villanueva and assisted by Ogie Gumatay, but their inspired performance was not enough to edge the inaugural staging champions, which drew solid games from Jason Melano and Val Acuna, who combined for 30 markers. Following its latest win, Batangas City climbed its way up to fourth spot of the southern division with an 8-4 winloss mark. Bataan absorbed its seventh loss in 13 games.

BLOODIED BUT UNBOWED. Tyson Fury (right), blood dripping from a gash on his eyebrow, batters Otto Wallin during their heavyweight bout at T-Mobile Arena in Las Vegas, Nevada. Fury won by an unanimous decision after the 12-round bout. AFP

Bloodied Fury decisions Wallin L

OS ANGELES, United States—Undefeated British heavyweight Tyson Fury shook off a left hook to the temple that left him bloodied and bruised before battling to a unanimous points win over Sweden’s Otto Wallin Saturday (Sunday Philippine time).

Fury had to dig deep after the bonerattling third-round punch from heavy underdog Wallin sliced open a deep gash over his right eye in Las Vegas. The shot left Fury half-blind for the remainder of the 12-round non-title bout as blood flowed freely down the right side of his face. But the self-styled “Gypsy King” powered back in a battle of attrition and eventually seized control in the ninth round. “I got caught early on which changed the fight completely,” Fury said. “For the majority of fight I couldn’t see.” Fury, who was taken to hospital for

repairs, won 116-112, 117-111 and 118110 on the three judges’ scorecards. Because the cut was from a punch, and not an accidental clash of heads, Wallin would have won by TKO had the injury caused ofﬁcials to stop the contest. Fury was hoping for a dominant performance against the unheralded Swede to stoke excitement for his lucrative money-spinning rematch with WBC champion Deontay Wilder which he claims is scheduled for February. Fury climbed off the canvas after a 12th round knockdown by Wilder in December only for judges to score a

US suffers worst finish in Fiba World Cup BEIJING, China—Outgoing champions the United States won their final match at the Basketball World Cup—but it was still their worst finishing place in the tournament’s history. Team USA defeated Poland 87-74 in a low-key “classification” game in Beijing to take seventh overall, their lowest position since the competition began in 1950. Gregg Popovich’s team at least managed to avoid a third defeat in a row, but it was an anti-climactic denouement to their title defense. Donovan Mitchell of the Utah Jazz had a double-double of 16 points and 10 assists. This US roster is missing the NBA’s elite names, but the Americans were still fancied to at least reach Sunday’s final in China. However, they were dumped out in the quarter-finals by France, then lost their subsequent classification match to Serbia, in what was billed as the title game that never was. The US have at least qualified to defend their Olympic title in Tokyo next summer. Sunday’s World Cup final is between Argentina and Spain. AFP

Jaylen Brown (9) of Team USA protects the ball in the paint against Team Poland during the 2019 FIBA World Cup Classification 7-8 at the Cadillac Arena in Beijing, China. AFP

ADAMSON University trounced University of the Philippines, 100-74, in the UAAP Season 82 Women’s Basketball Tournament, Sunday at Mall of Asia Arena. Rookie Novie Ornopia stepped up to the plate with her 23 points, seven rebounds, two steals, and a block as she played in perfect harmony with Lady Falcon ace Mar Prado, who got herself 20 points, nine rebounds, seven assists, six steals, and one block in the win. “Novie is one of my best recruits from last year. Sabi ko nga sa kanya, di mo muna matatapatan ang Mar Prado, pero maba-backupan mo si Mar Prado. Gusto ko magkaroon tayo ng Batman and Robin dyan,” said coach Ewon Arayi who was more than happy with her 1-2 punch. “Kapag hindi kumilos si Mar, meron akong Novie. Good thing naman na by Mar’s guidance sa mga bata, pinagsabay ko silang dalawa and good thing na itong ating beterano, nadala siya.” The duo was pivotal in Adamson’s second quarter pullaway, dropping 30 points to take a 55-31

draw in a pulsating title fight that many observers thought the Englishman had won. He called out Wilder after the fight saying, “Deontay I want you next, bum.” Before Saturday’s fight the 31-yearold Fury insisted he wasn’t looking past the 30/1 underdog Wallin, who entered the ring with a perfect 20-0 record. An over-the-top, five-minute ring walk sporting a sombrero and accompanied by a Mariachi band had some wondering if Fury was more concerned with boosting his Mexican fan base on their independence day than beating Wallin. But as he had against Wilder in December, the unbeaten 6ft 9in Fury (290-1, 20 KOs) showed he can deal with adversity in the ring. “It is all heart and determination,” he said. “If I can keep going then I will keep going.”

The 28-year-old southpaw Wallin angered Fury at the end of the sixth round by reaching over the referee with his glove to try and rip open the cut even more. The fight had been briefly halted in the middle of that round so the ring doctor could inspect Fury’s cut. “I can see,” Fury insisted when asked if the blood was affecting him. By the final round both boxers were out of gas. Wallin connected with a final flurry and for a few fleeting moments it looked like the heavyweight division might have its second huge upset of a fancied British fighter in three months. In June, Mexico’s Andy Ruiz knocked out the previously unbeaten Englishman Anthony Joshua in the seventh round in New York to win three of the four major heavyweight belts in one of the sport’s biggest shocks. AFP

Valdez wins title in elementary division of Lifecore chess tilt CALAPAN CITY, Oriental Mindoro— Chess genius Keene Ijssel Dirk Valdez swept all ﬁve matches on the way to ruling the elementary open division of the 2019 Lifecore Enterprises Open Chess Tournament dubbed as Grandmaster Rosendo Carreon Balinas Chess Cup at the Bulwagang Panlalawigan in Calapan City, Oriental Mindoro last weekend. The nine-year-old Valdez, a grade 4 pupil of Camilmil Central School of Puting Tubig, Calapan City, emerged as the only player with an unblemished record among the participants of the four divisions in the two-day tournament organized by United Chess Players of Calapan, Inc. headed by its president Emmanuel “Noel” Bandelaria Asi. The tourney was supported by Nicolas Ramil Castro of Lifecore Enterprises Inc. in cooperation with local government of Calapan City, Province of Oriental Mindoro and Philippine Executive Chess Association (PECA) led by its president Dr. Jenny Mayor. Chad Stephen Madrigal placed second with 3.5 points, while Kent Andrei Cante is at third with 3.5 points. Meanwhile, John Mark Ditaunon

ruled the high school open side with 5.0 points with Jeff Janssen Arellano and Kyle Nemuel De Silva who had four points apiece, ﬁnished second and third, respectively. National Master (NM) Raymond Salcedo of the Philippine Airforce Chess Team won the executive division followed by solo second place Jose Rizal University chess team head coach Fide Master (FM) Nelson “Elo” Mariano III. National Arbiters Byron Villar and Israel “Ice” Landicho of the Chess Arbiter Union of the Philippines (CAUP) supervised the National Chess Federation of the Philippines (NCFP) sanctioned tournament. The FIDE rated Lifecore Enterprises Open rapid chess championships gets underway with 13-time Philippine Open champion Grandmaster (GM) Rogelio “Joey” Antonio Jr. defending his title. Antonio, 57, who hails from Calapan City, Oriental Mindoro is the country’s representative in this year’s 2019 FIDE World Seniors Chess Championships to be held November 11 to 24 in Bucharest, Romania.

Paalam, Marcial still in the hunt

Adamson Lady Falcons drub UP Lady Maroons, 100-74

Adamson University’s Mar Prado glides to the hoop to attempt a layup against the University of the Philippines.

MONDAY, SEPTEMBER 16, 2019 sports_mstandard@yahoo.com

halftime lead and cruise to the easy victory to rise to 2-1 and force a triple-tie with UST and FEU at second place. Kat Araja added 18 points, six steals, four rebounds, and four assists, as Gerl Anticamara had 10 points and four dimes for the Lady Falcons. UP suffered its third straight defeat this season as its four-year losing streak also continued to 33 straight games. Jona Lebico topped the Lady Maroons with 19 points and two rebounds, while Stiff Larrosa had 12 points, four boards, and three assists. The scores: ADAMSON 100 – Ornopia 23, Prado 20, Araja 18, Anticamara 10, Catulong 8, Dampios 8, Bilbao 6, Balane 3, Ea. Alaba 2, Mendoza 2, Ei. Alaba 0, Dela Cruz 0, Dumelod 0, Flor 0, Tandaan 0. UP 74 – Lebico 19, Larrosa 12, Ordoveza 11, Pesquera 10, Gusilatar 5, Rivera 5, Sanchez 5, Hidalgo 4, De Leon 2, Lucman 1, Taulava 0. Quarter scores: 25-18, 55-31, 79-55, 100-74.

TWO more Filipino boxers advanced, while one fell by the wayside, in the 2019 AIBA Elite Men’s World Championship at Ekaterinburg, Russia. Saturday went well for the Filipinos as both flyweight Carlo Paalam of Cagayan de Oro and Zamboanga’s Eumir Felix Marcial both disposed of their rivals convincingly. Lightweight James Palicte won the first round of his fight versus Jose Manuel Viafara of Colombia, but eventually lost a unanimous decision Friday. Paalam displayed masterful footwork and timely combinations to thwart a more experienced Hungarian, Istvan Szaka, and earn the nod of the judges, 5-0. Marcial’s victory was even more spectacular as he stopped the tournament’s No. 2 middleweight seed,

Tarik Allali of Morocco, in the very first round. The Moroccan was attacking when the dusky Zamboangueno countered with a cracking left-right combination that put Allali on the seat of his pants. The referee gave the mandatory 8-count and eventually stopped the fight, declaring Marcial the winner by RSC (Referee Stopped Contest). Light heavyweight John Marvin won his first fight but suffered an ugly gash over his left eye that required stitches and the coaches, led by former Olympians Ronald Chavez and Roel Velasco and foreign consultant Don Abnett (Australia) decided to sideline him for the rest of the tournament to avoid further damage. Featherweight Ian Clark Bautista faces an Argentinian boxer, Mirko Jejiel Cuello of Argentina.

Sports

Riera U. Mallari, Editor; Reuel Vidal, Assistant Editor sports@manilastandard.net sports_mstandard@yahoo.com

MONDAY, SEPTEMBER 16, 2019

BRT-St Clare, TIP pursue D-League semifinal slot Games Monday

(Paco Arena, Manila) 1:30 p.m. — BRT Sumisip Basilan-St. Clare* vs Hyperwash 3:30 p.m. — TIP* vs Black Mamba *twice-to-beat advantage

BRT Sumisip Basilan-St. Clare and Technological Institute of the Philippines both aim to complete the semifinal cast as the 2019 PBA D-League Foundation Cup quarterfinals continue today Monday at Paco Arena in Manila. The Group B top-seed Saints (6-0) are armed with the coveted win-once incentive in the playoffs and they definitely do not want to waste such advantage against the fourth-ranked Vipers. The 1:30 p.m. match, though, won’t be the first time that the two teams will meet as they have already seen each other last August 1, where BRT SumisipSt. Clare clobbered Hyperwash by 57 points, 129-72. Yet as much as his side has the edge in the clash, Saints coach Stevenson Tiu warned that the playoffs is a different beast in itself. “Pagdating sa quarters and semifinals, syempre it will be a different story,” the veteran mentor said. “Lahat ng tambak namin, hindi naman make-carry over, so we have to start from scratch again.” BRT Sumisip-St. Clare will bank on Malian big man Mohammed Pare, Joshua Fontanilla, and Junjie Hallare, but they have also called in reinforcements in Alfred Batino and Hesed Gabo in this championship quest. Standing in their way is an upset-hungry Hyperwash side led by JR Cawaling, Khazim Mirza, and Jeric Fortuna. Meanwhile, the Engineers also eye their first ever semis stint against the Energy Drink in the 3:30 p.m. tiff despite coming off a near-one month layoff, last playing in August 19 in a 105-95 conquest of Alberei. TIP coach Potit De Vera, however, is confident that his wards won’t be affected by such break. “We’ve played some tuneups during the break so I don’t think it will be an issue,” said De Vera, who will rely on Senegalese big man Papa Ndiaye and twin towers Bryan Santos and Ivan Santos. “Handa naman ang players natin and they know what’s at stake.”

SURF’S UP. Kolohe Andino of the US completes a cutback, a very difficult surfing trick, as he rides a wave in the men’s final of the ISA World Surfing Games at Kisakihama Beach in Miyazaki. AFP

Growling Tigers subdue Bulldogs in OT, 87-74 By Peter Atencio

HEIR overconﬁdence almost cost University of Santo Tomas a win.

But their composure in the closing minutes allowed the Growling Tigers to prevail in overtime over the National University Bulldogs, 87-74, yesterday in a place that Bulldogs consider as their own homecourt, at the Mall of Asia Arena. Beninese cager Solemane Chabi Yo tallied a game-high 23 points and had 20 boards for the Growling Tigers, including back-to-back baskets in the dying minutes of extra time, to lift the Growling Tigers to their third win in four games in the 82nd University Athletic Association of the Philippines (UAAP)

men’s basketball tournament. Chabi Yo’s heroics came with 2:37 left, and it came on top of an 8-0 run that shattered the game’s final deadlock, 73-all. After that, the winless Bulldogs (0-3) were already in foul trouble, and could no longer catch up with key players Dave Galinato and Issa Gaye close to fouling out in the remaining time, with UST ahead 81-73. Rhenz Abando drilled in 21 points, with one of his five treys finding their mark in the remaining 3:01, and pushing UST out of a 73-all tie. “Sinuerte pa kami sa dulo. We did not play our game in the first three quarters. Buti na lang nag-pick up kami sa last five minutes ng fourth quarter,” said UST coach Aldin Ayo. The Bulldogs, with Dave Ildefonso leading with 16 points, went into celebra-

tion after Enzo Joson drove past Abando with 6.5 seconds left for what should have been the winning basket in the last ﬁve seconds of regulation, 70-68. But, the 6-foot-6 Chabi Yo quickly sprinted back to their own end of the court, and scored the game’s eighth deadlock which sent the contest into overtime at 70-all. The Growling Tigers remained behind the solo-leading Ateneo Blue Eagles, who blasted the Far Eastern University Tamaraws, 63-46, last Saturday to post win no. 4. Sherwin Concepcion shot 13 points for UST, while Mark Nonoy added nine. John Lloyd Clemente made 12 points for NU while RJ Minerva converted 11. “Masyado kaming kumpiyansa. Nagkampante kami sa laro. Buti na lang sa fourth quarter, sinapian kami ng suerte,” stated Abando.

Canelo to face Kovalev LOS ANGELES, United States— Middleweight king Canelo Alvarez is to make a two-division jump in weight classes to take on Russia’s WBO light heavyweight champion Sergey Kovalev. Alvarez, 29, announced the November 2 date in Las Vegas in a short post on Twitter. Online streaming service DAZN also conﬁrmed the bout. World Boxing Council title-holder Alvarez (52-1-2, 35 KOs) has never fought at light heavyweight before. Alvarez and Kovalev, 36, had been in negotiations earlier this year to ﬁght in October, only for Kovalev to reject an offer from the Alvarez camp. Alvarez meanwhile was stripped of his International Boxing Federation belt after refusing to accept a

ﬁght against mandatory challenger Sergey Derevyanchenko. In comments to ESPN on Friday, Alvarez said he was relishing the challenge of facing the naturally bigger Kovalev, who retained his title with an 11th round knockout of Britain’s Anthony Yarde last month. “The second phase of my career is continuing just as we had planned, and that’s why we are continuing to make great ﬁghts to enter into the history books of boxing,” Alvarez told ESPN. “That’s also why I’ve decided to jump two weight classes against one of the most feared champions of recent years. “Kovalev is a dangerous puncher, and he’s naturally the bigger man, but that’s the kind of challenges and risks that I like to face.” AFP

NU forward Dave Ildefonso (1) tries to dribble past a UST defender during their game won by UST in 87-74 in overtime.

Altas grab 1st NCAA chess title WOODPUSHERS from the South made a statement as they captured their first plum in National Collegiate Athletic Association (NCAA) after 34 years in the league they first joined in 1985. Perpetual Altas Men’s Chess Team of Head Coach (IM) Roel Abelgas seized the crown after conquering Arellano Chiefs in the finals with the Altas scoring 3.5 points against the Chiefs .5 pt., last weekend at San Beda University Conference Room in Mendiola. Altas Board 1 player Genesis Borromeo beat his opponent Joshua Arias of AU via Bogo Indian Defense in 2 hours and 50 minutes of board pushing. Rookie - First Year Accountancy Major John Marx Anastacio of Perpetual Altas was adjudged as Season 95 MVP for Senior’s Division, while International Master Abelgas was named Coach of the Year. Board 1 - Daryl Samantila of CSB, Board 2-Marc Christian Nazario of SBU, Board 3-John Fleer Donguines of CSB, Board 4-John Marx Anastacio of Altas, Board 5 - Louigi Beñas if Arellano and Board 6 -Johshua Marquez of LPU won individual Gold Medal awards. “Pinaghandaan po talaga namin ito, since we ended up in 4th place last season 94. Madami kaming sinalihang pre-season chess tournaments sa tulong po nina Coach Roel at Coach Kenneth Rovillos,” MVP John Marx Anastacio said. “Sabi ko sa kanila focus lang game. Yung Carl Zirex Sato and Anastacio are rookie players coming from our last year Champion Junior Altas,” Coach Kenneth Rovillos said. San Beda U Red Cubs Chess team dethroned defending champion Perpetual Juniors Altas board pushers in the championship match scoring 2.5 points against 1.5 points. Dennis Abrina

5th Plaridel Cup tees off October 4 THE 5th edition of the Plaridel Cup golf tournament tees off October 4, 2019 at the Camp Aguinaldo Golf Club inside Camp Emilio Aguinaldo, Quezon City. Golf enthusiasts among media practitioners, communicators and their friends will be vying for bragging rights, trophies and corporate-sponsor giveaways. Tee-off time will be at 7 a.m. Play format is sequential. Registration is still ongoing. Interested golfers may sign-up by contacting Samahang Plaridel through Ms. Nelly Lumbaca at mobile no. 0920-9286498 or sending an email to apjsamahangplaridel@gmail.com. The Plaridel Cup is an annual sports event of the Association of Philippine Journalists – Samahang Plaridel Foundation, Inc., the professional group of veteran journalists, publishers, editorsin-chief and communicators that promotes high ethical standards among local media, according to the professional standards set by Filipino patriot Marcelo H. del Pilar. This year’s Plaridel Cup is being supported by First Orient International Ventures Corporation, Cebu Paciﬁc, Hotel Sogo, Ayala Land, Inc., Globe Telecommunications, Philippine Amusement & Gaming Corporation (PAGCOR), Reyes Hair Cutters, Senator Cynthia Villar, Asia Brewery Inc. and Sterling Paper Group of Companies. Golfers from corporate sponsors and other companies are welcome to join the tournament. On top of trophies, last year’s participants brought home exciting rafﬂe prizes and giveaways.

SEAG marathon champion sues Singapore Athletics TWO-TIME SEA Games marathon champion Soh Rui Yong has sued Singapore Athletics for defamation, after he was not included in the selection of athletes who will see action in the 30th Southeast Asian Games in the Philippines. According to reports, Soh’s case is now in the High Court of Singapore, and he is seeking $500,000 in damages. The case arose after Singapore’s national track and ﬁeld body was not able to resolve a dispute which arose over his non-selection for the biennial meet. Soh was supposed to be aiming for a third straight gold. The case of Soh has now been brought up before the Singapore National Olympic Council (SNOC). In early September, SNOC has submitted its the line-up of athletes for the 2019 SEA

Games, without Soh’s name in the list. Soh, a two-time winner of the event in 2015 and 2017, is the ﬁrst Singaporean men’s marathoner to achieve this feat. “Mr. Soh was said to have not been added to the national roster for having ‘displayed conduct that falls short of the standards of attitude and behavior that the SNOC expects of and holds its athletes to,’ ” according to the SNOC statement. His run-in with Singapore Athletics started back in Oct. 2019, when Soh reportedly questioned fellow marathoner Ashley Liew’s stories on his acts of sportsmanship during the 2015 SEA Games. Liew later received an international award after being nominated by the SNOC. In April, the SNOC handed Soh a legal letter asking him to retract his statements about Liew and the award.

Soh refused to comply, and SNOC later decided to “reserve its legal rights” in taking action, while Liew sought legal remedies. Three months later, Soh took his case to social media, and on a Facebook post, accused the SNOC of bias. Last month, Soh’s nomination for the national contingent to 2019 SEA Games in Manila was rejected by the SNOC. The marathon champion also expressed his disappointment with Singapore Athletics, which did not defend him nor contest the SNOC’s decision. Since his exclusion, Soh wrote two legal letters to the SNOC concerning the decision. According to the SNOC, their President Tan Chuan-Jin had met with Singapore Athletics (SA) President Tang Weng Fei and Singapore Athletics Executive Director Malik Aljunied last month. Peter Atencio

BITTER END. Juan Miguel Elorde (right), grandson of Filipino boxing legend Flash Elorde, winces after being punched in the face by WBO super-bantamweight champion Emanuel Navarrete. Elorde lost by 3rd round TKO in their title bout in Las Vegas, Nevada. AFP

Business

Stocks to retest 8,000 points

Ray S. Eñano, Editor Roderick T. dela Cruz, Assistant Editor business@manilastandard.net extrastory2000@gmail.com MONDAY, SEPTEMBER 16, 2019

Govt keeping growth target of at least 6% By Julito G. Rada

INANCE Secretary Carlos Dominguez III said over the weekend the government is keeping a ﬁghting growth target of at least 6 percent this year to achieve President Rodrigo Duterte’s ultimate goal of reducing poverty incidence to 14 percent by 2022 and creating more opportunities for Filipinos.

Manila International Container Terminal (MICT)

Dominguez said the swift congressional approval of the remaining packages of the comprehensive tax reform program and other economic reform bills to further open up the domestic economy would be crucial for the Duterte administration to achieve its target of achieving high and inclusive growth and transforming the country into an upper-middle-income economy ahead of schedule. Dominguez said a catch-up spending plan crafted for this year and the timely passage of the 2020 national budget would help the government achieve the 2019 gross domestic product growth target. He expressed optimism that there wouldn’t be a repeat of the delay in the approval of the 2019 General Appropriations Act in light of the much better working relations this time between the executive and legislative departments. The economy grew 5.5 percent in the first semester, below the target range of 6 percent to 7 percent for the whole year. Dominguez said the slowdown was not surprising, given the five-month delay in the enactment of the 2019 GAA. The delay forced Malacañang to operate on a reenacted 2018 budget and hold off on the implementation of new and continuing projects that would have boosted growth in the first half. Dominguez said to avoid a repeat of the 2019 budget delay, the leaders of both the Senate and the House of Representatives were meeting every month to monitor the progress on the budget and the 25 priority bills enumerated by President Duterte in his 4th State-of-the-Nation Address which include the four remaining CTRP packages. Dominguez said that at the halfway point of President Duterte’s term, the economic team was more than ready to pursue further reforms, starting with the remaining CTRP packages, to enable the Philippines to secure an “A” credit rating within his presidency and achieve his goal of financial inclusion. “The passage of the remaining tax reform packages and other economic reforms will help us secure the A-minus credit rating within the next two years and achieve our 14 percent poverty target by 2022,” Dominguez said a meeting on Friday with congressional leaders, former Finance officials and economists at the Department of Finance office in Manila. The lunch meeting was hosted by Dominguez to discuss the CTRP and the other proposed economic reforms of the Duterte administration.

Manila North Harbor Terminal (NorthPort) Subic Bay International Terminal (New Container Terminals 1 & 2), Subic Bay Freeport

POWERING THE PHILIPPINES WITH GATEWAYS TO GROWTH

Cavite Gateway Terminal, Tanza, Cavite Laguna Gateway Inland Container Terminal, Calamba City, Laguna

PHILIPPINES

Bauan International Port, Bauan, Batangas

At the heart of Philippine trade is the Port of Manila, where ICTSI operates the country’s sole dedicated international container terminal (MICT) and the largest multi-use domestic cargo hub (NorthPort).

Mindanao International Container Terminal, Tagoloan, Misamis Oriental

North of Manila, ICTSI serves the central and northern Luzon markets at the Subic Freeport. South of Manila, ICTSI boosts supply chain synergies: giving Cavite a sea lane alternative to Manila via the country’s first roll-on rolloff (ro-ro) container barge terminal; extending the Port of Manila to an inland container park and future intermodal facility in Laguna; and supporting the auto industry via a Batangas ro-ro terminal.

Hijo International Port, Tagum City Sasa Wharf, Davao Makar Wharf, Gen. Santos City

In the agricultural powerhouse that is Mindanao, ICTSI optimizes gateways for the exports of the country’s top produce: Davao bananas, Gen. Santos City tuna, Bukidnon pineapples, and Mindanao’s copra and coconut products. From country to global markets—ICTSI powers the Philippines with world class gateways to growth.

HEAD OFFICE ICTSI Administration Bldg., Manila International Container Terminal MICT South Access Road, Port of Manila, Manila 1012, Philippines +632 245 4101 +632 245 2245 info@ictsi.com www.ictsi.com

ARGENTINA • AUSTRALI A • BRAZIL • CHINA • COLOMBIA • CROATIA • D.R. CONGO • ECUADOR • GEORGIA • HONDURAS • INDONESIA • IRAQ • MADAGASCAR • MEXICO • PAKISTAN • PAPUA NEW GUINEA • PHILIPPINES • POLAND • SUDAN

Foreign debt hit record $81.3b as of end-June By Julito G. Rada THE country’s foreign debt climbed by more than $9 billion or 12.5 percent to hit a record $81.26 billion as of end-June from $72.2 billion a year ago, data from the Bangko Sentral ng Pilipinas show. Bangko Sentral ng Pilipinas Governor Benjamin Diokno said despite rising debt, the external debt ratios remained at prudent levels when measured against the gross international reserves, which were recorded at $84.9 billion as of endJune. Data showed that on a quarterly basis, the foreign debt stock also rose by $827 million or 1 percent from $80.4 billion registered as of end-March. “The rise in the debt stock during the second quarter was brought about by the increase in non-residents’ investments in Philippine debt papers issued offshore amounting to $1.2 billion and positive foreign exchange revaluation adjustments amounting to $405 million,” Diokno said. He said the net repayments amounting to $650 million and prior periods’ adjustments of $133 million partially offset the uptick in the debt stock. Diokno said the year-on-year increase

International Container Terminal Services, Inc. (ICTSI) strengthens trade and supply chain synergies in the Philippines.

in debt stock was led by about by net availments ($8.8 billion), prior periods’ adjustments ($549 million) and foreign exchange revaluation adjustments ($385 million). This upward impact on the debt stock was partially offset by the transfer of Philippine debt papers from non-residents to residents ($746 million). External debt refers to all types of borrowings by Philippine residents from non-residents, following the residency criterion for international statistics. The Bangko Sentral said the GIR stood at $84.9 billion as of end-June and represented 5.5 times cover for shortterm debt under the original maturity concept. The debt service ratio, which relates principal and interest payments (debt service burden or DSB) to exports of goods and receipts from services and primary income, was steady at 7.5 percent. It is a measure of the adequacy of the country’s FX earnings to meet maturing obligations. The maturity proﬁle of the country’s external debt remained predominantly medium- and long-term in nature (those with original maturities longer than one

year), with share to total at 80.8 percent. Short-term accounts―or those with original maturities of up to one year― comprised the 19.2 percent balance of debt stock and consisted of bank liabilities, trade credits and others. Public sector external debt increased to $42.3 billion from $40.2 billion in the previous quarter. About $35.2 billion (83.3 percent) of public sector obligations were national government borrowings while the remaining $7 billion pertained to other government agencies’ loans. Private sector debt declined from $40.3 billion in March to $39 billion in June, with share to the total decreasing from 50.1 percent to 48.0 percent. The recorded decline in private sector borrowings was due largely to the reduction in bank liabilities. Major creditor countries were Japan ($15.1 billion), the United States ($4 billion), the Netherlands ($3.2 billion) and the United Kingdom ($3 billion). Obligations to foreign banks and other ﬁnancial institutions had the largest share (32.2 percent) of total outstanding debt, followed by loans from ofﬁcial sources, including multilateral (18.0 percent) and bilateral creditors (13.4 percent).

Malaya plant auction set on Sept. 18 By Alena Mae S. Flores State-run Power Sector Assets and Liabilities Management Corp. is set to bid out the 650-megawatt Malaya thermal power plant in Pililla, Rizal on Sept. 18 “So far, yes the bidding is set for Sept. 18,” PSALM president Irene Garcia said over the weekend. Garcia said the agency would choose the winner from four pre-qualified bidders, including DMCI Power Corp., D.M. Wenceslao and Associations Inc. FGEN Reliable Energy Holdings Inc. and AC Energy Inc. PSALM earlier tapped a consultancy firm for the plant valuation and its underlying land in Rizal province. PwC Philippines scored highest among the three competing consultancy firms during the negotiated procurement, anchored on a quality-based evaluation procedure that PSALM conducted in March. The Malaya plant consists of a 300MW unit with a once-through type boiler and a 350-MW unit fitted with a conventional boiler. It serves as a “must-run” unit which means it is designated to run when supply is tight in the Luzon grid. PSALM was supposed to bid out the facility in March 2017 but it was put on hold after the Energy Department decided

to include in the bidding the option to convert the plant into a facility running on liqueﬁed natural gas. The plan did not push through. Meanwhile, the Energy Regulatory Commission directed PSALM to submit evidence to support its claims for the recovery of the universal charge for stranded contract costs and stranded debts amounting to P6.12 billion. The ERC set the hearings on PSALM’s petition for the availment of National Power Corp.’s SCC portion of the universal charge equivalent to P0.0620 per kilowatt-hour for 2018 in October. PSALM, tasked to manage the assets and liabilities of Napocor under the Electric Power Industry Reform Act of 2001, sought to recover the UC-SCC over a one-year period from approval. Stranded contract costs of Napocor refer to the “excess of the contracted cost of electricity under eligible contracts over the actual selling price of the contracted energy output of such contracts in the market.” “The issuance of the provisional authority for this petition would enable PSALM to immediately recover SCC and use the UC-SCC proceeds to service maturing loans and IPP [independent power producer] obligations of eligible IPP contracts,” PSALM said in its application.

Business

MONDAY, SEPTEMBER 16, 2019 extrastory2000@gmail.com

Stocks set to retest 8,000 points By Jenniffer B. Austria

HARE prices are expected to re-test the 8,000-point mark this week in anticipation of possible a cut in interest rates this month.

Bangko Sentral ng Pilipinas Governor Benjamin Diokno on Friday said cutting the benchmark policy rates again was almost certain during the next meeting of the Monetary Board later this month. Diokno said another cut in interest rates was possible amid the continued deceleration in inflation rate. Investors at the same time will monitor the upcoming US Fed meeting scheduled on Sept 19, with further rate cuts widely expected. BDO Unibank Inc chief investment strategist Jonathan Ravelas said the market’s close last week signaled that the index could consolidate within the 7,700-

to 8,000-point levels in the near term. The Philippine Stock Exchange Index last week gained 0.7 percent to end slightly below 8,000 points, while the broader All Shares Index rose 0.8 percent to 4,822.87. “Positive developments of the USChina negotiations and the European Central Bank’s monetary easing lifts the local market, together with its regional peers,” Philstocks Financial Inc. said. All sub-indices ended in the green, led by mining and oil which climbed 3.5 percent, services which advanced 1.8 percent and financial which added 1.6 percent. The industrial index rose 0.9 percent,

followed by property and holding firms, which inched up 0.3 and 0.1 percent, respectively. Foreign investors were net buyers of the week by P419 million, while the average daily value traded stood at P6.1 billion from the previous week’s average of P6.6 billion. Weekly top price gainers were Aboitiz Power Corp., which rose 7 percent to P38.95, Bank of the Philippine Islands, which gained 5.9 percent to P94.30, and AyalaLand Logistics Holdings Corp., which advanced 5.8 percent to P3.63. Weekly top price losers were Cirtek Holdings Philippines Corp., which slumped 15.4 percent to P10.42, Global Estate Resorts Inc., which dropped 4.7 percent to P1.22, and Cemex Holdings Philippines Inc., which declined 3.2 percent to P2.72. Meanwhile, US stocks swung to a split finish on Friday, closing little changed as investors took a breather

following an extended rally driven by hopes for a letup in the US-China trade war. The three major indices posted their third straight weekly gains, with the benchmark Dow Jones Industrial Average notching an eighth positive close— its longest winning streak in more than a year. But after flirting with new records, the results for the day were underwhelming. The Dow inched up 0.1 percent to close at 27,219.52, about 140 points below an all-time high set July 15 and short of the high point of the day. The broader S&P 500 turned negative, falling 0.1 percent to end at 3,007.39, while the Nasdaq sank 0.2 percent to finish at 8,176.71. Ahead of a new round of trade talks next month, China announced Friday it will exempt American soybeans and pork from its retaliatory tariffs. With AFP

Manila Standard BuSineSS Weekly StockS revieW STOCKS

SEPTEMBER 9-13, 2019 Close Volume

Value

Asia United Bank Banco de Oro Unibank Inc. Bank of PI BDO Leasing & Fin. INc. Bright Kindle Resources China Bank Chinatrust Bank Citystate Savings COL Financial Eastwest Bank Ferronoux Holding Filipino Fund Inc. First Abacus I-Remit Inc. Manulife Fin. Corp. MEDCO Holdings Metrobank Natl. Reinsurance Corp. PB Bank Phil Bank of Comm Phil. National Bank Phil. Savings Bank Philippine trust Co. PSE Inc. RCBC `A’ Security Bank Sun Life Financial Union Bank Vantage Equities

57.7 142.60 94.30 2.17 1.20 25.95 25.9 7.95 18.5 12.12 5.35 8.63 0.53 1.21 755.00 0.445 69.95 0.98 13.2 21.00 46.75 57.5 115 181 27.45 206 1810.00 59.50 1.14

13,010 8,736,370 14,419,700 31,000 143,000 825,800 206,200 8,200 318,700 1,553,000 12,052,000 700 9,000 67,000 550 420,000 17,894,420 771,000 20,700 2,000 383,000 31,960 500 14,170 98,300 2,235,870 1,455 31,360 152,000

FINANCIAL 739,237.00 1,246,326,403.00 1,338,736,973.50 64,340.00 165,830.00 21,359,160.00 5,337,970.00 59,927.00 5,896,736.00 18,832,304.00 67,065,805.00 5,494.00 4,770.00 81,870.00 410,925.00 187,550.00 1,249,655,245.50 741,610.00 269,400.00 42,000.00 17,866,205.00 1,845,586.50 56,680.00 2,600,850.00 2,700,375.00 457,770,364.00 2,615,875.00 1,865,305.50 169,070.00

Aboitiz Power Corp. Agrinurture Inc. Alliance Tuna Intl Inc. Alsons Cons. Basic Energy Corp. Bogo Medelin C. Azuc De Tarlac Cemex Holdings Century Food Chemphil Cirtek Holdings (Chips) Conc. Aggr. ‘A’ Conc. Aggr. ‘B’ Concepcion Crown Asia Da Vinci Capital Del Monte DNL Industries Inc. Eagle Cement EEI Emperador Euro-Med Lab First Gen Corp. First Holdings ‘A’ Ginebra San Miguel Inc. Greenergy Holcim Philippines Inc. Integ. Micro-Electronics Ionics Inc Jollibee Foods Corp. Liberty Flour LMG Chemicals Mabuhay Vinyl Macay Holdings Manila Water Co. Inc. Maxs Group Megawide MG Holdings Mla. Elect. Co `A’ Panasonic Mfg Phil. Corp. Pepsi-Cola Products Phil. Petroenergy Res. Corp. Petron Corporation Phinma Corporation Phinma Energy Phoenix Petroleum Phils. Pilipinas Shell Pryce Corp. `A’ RFM Corporation Roxas and Co. Roxas Holdings SFA Semicon Shakeys Pizza SMC Food and Beverage SPC Power Corp. Swift Foods, Inc. TKC Steel Corp. Universal Robina Victorias Milling Vitarich Corp. Vulcan Ind’l.

38.95 15.98 0.7 1.3 0.246 110 17.50 2.73 14.26 124.9 10.42 75.6 80.95 32.75 2.07 6.14 6.05 9.130 15.46 10.56 7.20 1.74 26.05 82.5 52.25 2.4500 13.98 8.94 1.610 222.20 35.05 5 3.47 8.36 22.2 14.46 19.28 0.190 366.40 5.23 2.15 4.39 5.20 9.19 2.95 10.88 33.8 5.19 5.10 1.82 2.1 1.15 12.1 90.4 7.25 0.124 1.16 170.5 2.43 1.3 1.31

8,694,700 2,192,400 2,467,000 1,004,000 3,610,000 770 144,300 24,618,000 1,750,400 460 8,914,400 2,010 5,840 1,173,800 750,000 248,000 278,300 3,490,400 3,742,700 2,695,900 4,342,500 12,000 10,910,200 483,050 572,590 55,188,000 4,760,000 985,400 851,000 5,817,070 9,100 55,100 37,000 13,100 2,821,900 3,950,800 6,269,400 510,000 887,470 36,400 52,234,000 202,000 5,050,800 46,600 88,127,000 363,600 3,095,900 329,600 254,700 10,137,000 136,000 3,466,000 2,205,000 1,052,600 374,900 480,000 15,866,000 2,574,860 91,000 60,538,000 112,228,000

INDUSTRIAL 331,279,970.00 34,589,842.00 1,716,000.00 1,309,030.00 873,060.00 83,534.00 2,475,152.00 67,058,770.00 24,711,174.00 53,388.00 101,924,188.00 148,856.50 469,976.50 37,974,445.00 1,540,820.00 1,496,167.00 1,679,960.00 31,437,762.00 56,690,016.00 27,121,901.00 31,302,639.00 20,320.00 285,564,965.00 40,035,000.00 29,299,534.00 125,849,390.00 65,760,940.00 8,744,720.00 1,363,720.00 1,309,953,354.00 425,020.00 277,755.00 125,530.00 109,633.00 62,635,710.00 56,818,414.00 121,105,408.00 97,620.00 321,182,518.00 191,550.00 108,225,220.00 862,060.00 26,251,073.00 427,387.00 261,626,070.00 3,841,230.00 104,294,430.00 1,703,395.00 1,299,578.00 17,649,370.00 287,710.00 3,911,920.00 26,585,712.00 95,152,223.50 2,700,155.00 60,030.00 18,510,090.00 434,664,836.00 221,130.00 428,941,960.00 159,237,410.00

Abacus Cons. À’ Aboitiz Equity Alliance Global Inc. Anglo Holdings A Anscor À’ Asiabest Group ATN Holdings A ATN Holdings B Ayala Corp À’ Ayala Land Log Cosco Capital DMCI Holdings F&J Prince ‘A’ Filinvest Dev. Corp. Forum Pacific GT Capital House of Inv. JG Summit Holdings Jolliville Holdings Keppel Holdings À’ Keppel Holdings `B’ Lodestar Invt. Holdg.Corp. Lopez Holdings Corp. LT Group Mabuhay Holdings À’ Metro Pacific Inv. Corp. Pacifica À’ Prime Media Hldg Republic Glass ‘A’ San Miguel Corp À’ Seafront À’ SM Investments Inc. Solid Group Inc. South China Res. Inc. Top Frontier Transgrid Wellex Industries Zeus Holdings

0.920 54.20 12.68 0.81 7.00 13.78 1.250 1.240 908 3.630 6.9 9.19 4.16 13.74 0.244 920 6.10 74.50 6.3 5.22 5.21 0.52 4.55 14.44 0.650 5.14 0.0380 1.330 3.19 174.80 2.42 1017.00 1.32 0.85 232.200 450.00 0.2350 0.235

75,495,000 3,691,580 21,127,400 7,456,000 56,800 252,300 10,915,000 1,154,000 999,710 23,669,000 3,314,200 36,796,800 19,000 47,700 1,640,000 704,050 38,700 7,410,920 4,600 4,500 58,100 1,072,000 7,355,000 9,957,500 1,080,000 87,949,000 23,100,000 1,656,000 1,561,000 617,380 6,000 1,983,355 377,000 2,849,000 6,690 10 900,000 4,710,000 2,537,200 7,387,000 6,200 603,000 12,841,000 34,862,460 2,473,000 2,334,000 50,900 34,945,000 138,000 166,000 12,710,000 3,660,000 1,109,500 600,900 930,000 79,034,000 3,147,000 50,000 62,868,600 33,760,000 16,762,000 2,590,000 940,000 40

8990 HLDG A. Brown Co., Inc. Anchor Land Holdings Inc. Araneta Prop À’ Arthaland Corp. Ayala Land `B’ Belle Corp. À’ CEB Landmasters Cebu Holdings Century Property City & Land Dev. Cityland Dev. À’ Crown Equities Inc. Cyber Bay Corp. DM Wenceslao Double Dragon Empire East Land Filinvest Land,Inc. Global-Estate Keppel Properties Megaworld MRC Allied Ind. Phil Infradev Phil. Estates Corp. Phil. Realty À’ Phil. Tob. Flue Cur & Redry

15.260 0.84 10.70 2.010 0.920 49.900 2.18 4.8 6 0.560 0.76 0.880 0.219 0.400 9.340 21.7 0.465 1.66 1.22 4.70 5.17 0.315 1.4800 0.4500 0.400 53.70

SEPTMBER 2-6, 2019 Close Volume Value 57.95 142.50 89.00 2.17 1.21 25.9

360 7,350,240 6,153,540 3,172,000 454,000 2,075,000

20,522.50 1,063,904,570.00 541,163,196.50 6,347,250.00 544,410.00 53,883,560.00

18.6 12.16 4.82

96,600 1,696,800 618,000

1,766,990.00 20,530,080.00 2,952,150.00

0.53 1.25 750.00 0.460 70.1 0.94 13.04 22.45 46.45 58 118 185 28 203.4 1790.00 59.60 1.11

4,000 260,000 1,040 140,000 12,382,260 958,000 39,000 600 343,000 35,390 3,090 88,410 1,090,300 1,959,170 715 147,420 1,524,000

2,120.00 320,020.00 780,060.00 63,100.00 872,372,450.00 904,160.00 510,760.00 13,290.00 15,842,710.00 2,047,298.00 342,803.00 16,392,151.00 30,010,385.00 394,095,709.00 1,232,280.00 8,765,178.00 1,679,920.00

36.4 15.8 0.71 1.34 0.247

4,153,100 4,844,700 3,363,000 2,277,000 3,640,000

154,723,325.00 75,019,108.00 2,334,350.00 2,964,640.00 886,950.00

15.88 2.82 13.9 116.1 12.32 75 78.5 31.9 2.04 6.1 5.89 8.830 15.1 10.00 7.25

28,000 94,012,000 6,443,600 14,410 10,076,900 6,210 12,530 621,000 508,000 189,800 389,000 6,277,900 982,700 1,830,700 13,036,900

432,076.00 266,738,850.00 88,370,820.00 1,844,937.00 124,557,722.00 455,497.00 979,271.50 18,980,725.00 1,033,130.00 1,135,154.00 2,246,305.00 56,348,694.00 14,820,274.00 18,527,412.00 94,680,326.00

26.5 83.2 50.95 2.1900 14.24 8.67 1.630 229.00

12,243,600 639,390 885,740 38,100,000 9,450,200 2,767,300 1,000,000 2,629,530

327,915,115.00 53,301,313.50 44,853,062.50 82,041,080.00 138,847,492.00 23,588,077.00 1,606,070.00 605,837,562.00

5.06 3.4 8.36 22.25 13.9 19.16 0.208 358.00 5.25 2.11 4.50 5.10 9.10 2.94 10.98 33 5.24 5.10 1.64 2.19 1.21 12.02 90 7.23 0.128 1.09 168.5 2.45 1.18 1.23

364,000 28,000 10,600 2,753,300 489,600 8,191,400 1,030,000 705,380 5,500 146,723,000 67,000 7,271,500 862,800 231,091,000 581,100 6,815,000 776,900 132,310 1,950,000 133,000 5,911,000 1,311,000 1,505,660 181,500 530,000 3,745,000 3,048,830 93,000 8,358,000 13,045,000

1,794,760.00 92,850.00 88,926.00 61,143,075.00 6,670,088.00 156,150,370.00 209,540.00 254,793,462.00 29,052.00 302,986,130.00 294,740.00 36,897,826.00 7,766,405.00 680,373,620.00 6,350,636.00 219,509,550.00 4,053,769.00 538,441.00 3,084,580.00 284,090.00 7,060,200.00 15,596,660.00 135,490,237.50 1,299,738.00 66,840.00 4,002,000.00 514,223,299.00 226,610.00 9,755,350.00 16,068,020.00

HOLDING FIRMS 69,027,280.00 196,390,770.00 261,050,912.00 5,997,730.00 395,773.00 3,504,136.00 13,295,250.00 1,423,710.00 696,717,025.00 82,368,090.00 22,761,031.00 334,820,009.00 85,640.00 649,704.00 380,270.00 652,474,950.00 231,837.00 543,300,692.50 26,125.00 24,909.00 300,872.00 542,100.00 33,187,520.00 143,199,704.00 677,550.00 452,460,624.00 888,500.00 2,237,800.00 4,775,180.00 107,386,864.00 14,520.00 2,017,201,615.00 487,230.00 2,468,930.00 1,551,366.00 4,500.00 210,640.00 1,132,180.00

0.870 52.40 12.20 0.80 7.03 14.82 1.210 1.240 900.5 3.430 6.76 8.82 4.6 13.60 0.246 900 5.90 71.00 5.33 5.5 5.3 0.49 4.59 15 0.660 5.2 0.0390 1.400 2.74 175.00 2.41 1048.00 1.36 0.86 236.000 453.80 0.2310 0.247

124,214,000 6,166,900 35,239,900 25,329,000 1,397,600 217,600 16,939,000 2,281,000 1,784,580 14,984,000 6,676,200 32,626,800 23,000 237,600 3,310,000 459,850 94,300 5,954,910 8,100 228,500 126,100 611,000 26,439,000 12,053,500 2,114,000 177,163,300 29,800,000 1,913,000 118,000 510,440 10,000 2,137,205 471,000 4,046,000 5,010 10 2,330,000 7,350,000

107,594,810.00 326,430,205.00 436,806,114.00 20,360,320.00 9,780,680.00 3,237,844.00 20,991,040.00 2,881,400.00 1,610,771,125.00 52,433,000.00 44,997,079.00 291,519,853.00 104,130.00 3,244,628.00 794,390.00 418,850,270.00 560,929.00 423,512,488.00 47,599.00 1,325,057.00 810,209.00 299,215.00 121,377,940.00 180,230,274.00 1,360,570.00 912,431,516.00 1,154,500.00 2,565,570.00 338,420.00 90,189,789.00 24,100.00 2,204,635,670.00 615,750.00 3,507,530.00 1,188,922.00 4,538.00 542,840.00 1,851,270.00

PROPERTY 38,791,008.00 6,235,570.00 65,853.00 1,117,220.00 11,398,460.00 1,717,368,046.00 5,404,120.00 11,125,980.00 298,956.00 19,527,740.00 100,970.00 142,480.00 2,799,520.00 1,469,500.00 10,381,828.00 12,877,120.00 422,650.00 130,629,580.00 3,910,630.00 217,200.00 321,627,413.00 10,574,100.00 24,874,140.00 1,704,300.00 364,400.00 2,148.00

15.360 0.84 9.80 1.850 0.900 49.500 2.18 4.66 6 0.560 0.74 0.880 0.231 0.420 9.690 21.6 0.455 1.65 1.28 4.00 5.19 0.325 1.4100 0.4650 0.390 53.75

2,023,400 5,678,000 6,600 1,284,000 18,299,000 45,421,800 1,236,000 2,569,000 400 38,747,000 97,000 595,000 6,500,000 5,850,000 1,473,100 2,649,500 5,140,000 152,404,000 1,881,000 23,000 166,731,100 38,760,000 8,523,000 3,670,000 510,000 40

31,047,694.00 4,670,840.00 65,235.00 2,384,100.00 16,546,170.00 2,181,915,110.00 2,690,860.00 11,992,940.00 2,430.00 21,790,980.00 71,360.00 517,630.00 1,499,130.00 2,495,050.00 13,668,017.00 56,630,680.00 2,349,000.00 252,520,230.00 2,380,750.00 91,900.00 856,439,877.00 12,442,850.00 11,921,510.00 1,739,400.00 202,200.00 2,150.00

STOCKS

SEPTEMBER 9-13, 2019 Close Volume

SEPTMBER 2-6, 2019 Close Volume Value

Value

Primex Corp. Robinson’s Land `B’ Rockwell Shang Properties Inc. SM Prime Holdings Sta. Lucia Land Inc. Starmalls Suntrust Home Dev. Inc. Vista Land & Lifescapes

2.1 25.40 2.35 3.4 34.50 2.48 5.78 0.930 7.690

2,292,000 10,395,300 721,000 1,796,000 47,057,600 5,103,000 407,700 4,896,000 16,569,900

4,725,580.00 262,984,770.00 1,717,300.00 6,148,620.00 1,624,061,105.00 12,105,300.00 2,315,511.00 4,650,530.00 127,254,112.00

2GO Group’ ABS-CBN Acesite Hotel APC Group, Inc. Apollo Global Asian Terminals Inc. Berjaya Phils. Inc. Bloomberry Boulevard Holdings Cebu Air Inc. (5J) Centro Esc. Univ. Chelsea DFNN Inc. Discovery World Easy Call “Common” FEUI Globe Telecom GMA Network Inc. Golden Haven Harbor Star I.C.T.S.I. Imperial Res. `A’ IPeople Inc. `A’ Island Info ISM Communications Jackstones LBC Express Leisure & Resorts Lorenzo Shipping Macroasia Corp. Manila Bulletin Manila Jockey Metro Retail MetroAlliance A MetroAlliance B NOW Corp. Pacific Online Sys. Corp. PAL Holdings Inc. Paxys Inc. PH Resorts Group Phil. Racing Club Phil. Seven Corp. Philweb.Com Inc. PLDT Common PremiereHorizon Premium Leisure Puregold Robinsons RTL SBS Phil. Corp. SSI Group STI Holdings Transpacific Broadcast Travellers Waterfront Phils. Wilcon Depot

10.4 19.84 1.62 0.570 0.049 19.76 2.5 11.40 0.0580 94.7 6.98 7.27 6.29 2.23 10.58 919 1968 5.27 435.00 1.77 131.4 1.99 9.49 0.115 5.5000 2.86 14.4 3.35 0.93 19.64 0.470 3.47 2.57 1.20 1.28 3.500 2.9 8.40 2.8 5.05 8.69 143.70 3.42 1204.00 0.580 0.730 42.80 80.10 9.19 2.90 0.700 0.355 5.46 0.680 16.720

60,100 1,040,800 143,000 38,912,000 85,560,000 200 2,377,000 22,566,800 71,400,000 366,530 1,800 3,861,700 11,700 8,000 4,969,000 1,210 150,995 1,069,700 1,380 4,603,000 4,781,130 47,000 6,000 6,590,000 9,535,100 11,000 3,600 3,935,000 1,522,000 9,066,500 210,000 245,000 4,348,000 140,000 4,000 115,789,000 1,079,000 31,200 6,000 38,800 10,400 220 4,067,000 392,950 77,592,000 6,774,000 5,449,500 2,986,190 42,100 13,774,000 5,141,000 35,390,000 4,458,100 7,858,000 4,435,400

Abra Mining Apex À’ Atlas Cons. À’ Atok-Big Wedge À’ Benguet Corp À’ Benguet Corp `B’ Century Peak Metals Hldgs Coal Asia Dizon Ferronickel Geograce Res. Phil. Inc. Lepanto À’ Lepanto `B’ Manila Mining À’ Manila Mining `B’ Marcventures Hldgs., Inc. Nickelasia Nihao Mineral Resources Omico Oriental Peninsula Res. Oriental Pet. À’ Oriental Pet. `B’ Philex À’ PhilexPetroleum Philodrill Corp. À’ Phinma Petro Semirara Corp. United Paragon

0.0018 1.22 2.58 13.00 1.1500 1.1500 2.7 0.280 8.10 1.730 0.225 0.110 0.110 0.0095 0.0120 1.19 4.4 1.14 0.4850 0.8900 0.0110 0.0120 4.05 12.44 0.0110 10.0600 23.75 0.0066

MINING & OIL 7,227,000,000 12,285,900.00 20,092,000 24,398,150.00 93,000 241,130.00 62,200 774,004.00 180,000 210,800.00 167,000 191,960.00 1,448,000 3,915,360.00 220,000 61,600.00 260,000 2,136,649.00 174,163,000 292,655,570.00 13,730,000 3,164,570.00 4,540,000 500,040.00 3,100,000 341,890.00 50,700,000 482,540.00 67,700,000 761,600.00 2,138,000 2,534,100.00 66,886,000 290,971,530.00 621,000 687,290.00 110,000 53,050.00 3,390,000 2,923,210.00 4,700,000 52,400.00 25,000,000 300,000.00 4,347,000 17,340,080.00 21,622,400 265,642,502.00 46,800,000 517,800.00 9,873,400 98,618,721.00 6,608,500 155,114,295.00 12,000,000 77,800.00

ABS-CBN Holdings Corp. Alco Preferred B Alco Preferred C Ayala Corp. Pref `B1’ Ayala Corp. Pref ‘B2’ DD PREF First Gen G FPH Pref C GLOBE PREF P GMA Holdings Inc. GTCAP PREF A GTCAP PREF B House Preferred Leisure and Resort MWIDE PREF PCOR-Preferred 2B PCOR-Preferred 3A PCOR-Preferred 3B PF Pref 2 PNX PREF 3A SMC Preferred 1 SMC Preferred A SMC Preferred B SMC Preferred C SMC Preferred D SMC Preferred E SMC Preferred F SMC Preferred G SMC Preferred H

18.62 102 101 504 504 101.7 107 490 500 5.12 994 980 99.6 1 100.3 1030 1015 1080 100.2 108.5 998 76.05 78.95 75.9 76 78 76 75.6 76.55

1,424,100 840 11,120 1,380 1,340 12,740 24,630 500 1,050 903,200 1,000 20 5,320 1,818,000 13,160 5,590 2,505 36,295 4,960 580 4,560 220 56,120 4,800 135,520 36,600 13,260 38,400 34,140

LR Warrant

1.720

WARRANTS & BONDS 1,169,000 2,016,300.00

SERVICES 613,838.00 20,696,015.00 229,980.00 22,615,000.00 4,270,780.00 3,952.00 5,798,090.00 248,995,146.00 4,107,440.00 34,583,771.00 12,564.00 27,950,026.00 67,958.00 16,800.00 57,102,424.00 1,081,245.00 296,041,540.00 5,664,842.00 599,424.00 8,222,650.00 637,719,332.00 88,450.00 57,075.00 744,250.00 52,418,017.00 32,640.00 51,022.00 13,088,630.00 1,403,630.00 174,679,472.00 94,500.00 833,910.00 10,935,640.00 168,370.00 5,120.00 431,696,660.00 3,035,420.00 261,584.00 16,800.00 184,297.00 88,323.00 30,573.00 13,580,470.00 464,565,315.00 47,441,130.00 4,898,130.00 234,308,825.00 232,459,709.50 388,588.00 39,745,410.00 3,537,110.00 12,413,000.00 24,300,720.00 5,351,310.00 74,031,512.00

PREFERRED 26,540,646.00 85,680.00 1,120,682.00 690,690.00 672,245.00 1,287,371.00 2,637,572.00 245,000.00 525,050.00 4,631,115.00 993,960.00 19,690.00 524,359.00 1,269,080.00 1,325,863.00 5,713,780.00 4,655,175.00 38,824,255.00 503,721.00 62,935.00 4,541,480.00 16,780.50 4,430,523.00 364,073.00 10,283,862.00 2,842,920.00 1,013,690.00 2,923,210.00 2,613,688.00

SME 42,900,299.00 111,934,554.00 110,650,460.00

2.12 25.00 2.37 3.35 34.55 2.47 5.75 0.920 7.700

23,975,000 9,141,200 900,000 983,000 58,398,600 6,607,000 472,500 4,483,000 24,444,800

53,540,090.00 228,241,245.00 2,128,680.00 3,260,720.00 2,020,878,065.00 15,844,230.00 2,684,583.00 4,049,860.00 187,514,363.00

10.3 19.94 1.66 0.580 0.049 18.26 2.4 11.12 0.0590 95 6.6 7.24 6.15 2.26 9.82 890 1947 5.30 435.00 1.83 131 2.00 9.59 0.113 5.4300 2.86 14 3.19 0.92 19.10 0.460 3.25 2.45 1.13 1.28 3.100 2.72 8.45 2.8 5.12

116,400 1,407,400 838,000 119,579,000 35,660,000 5,400 836,000 12,781,800 101,730,000 538,860 5,600 10,149,900 156,600 21,000 711,500 1,720 187,925 1,047,400 30,060 12,829,000 5,015,150 17,000 22,800 20,470,000 45,682,500 100,000 10,600 6,066,000 18,076,000 1,097,400 1,380,000 151,000 5,037,000 62,000 109,000 44,615,000 1,069,000 61,400 15,000 6,800

1,220,004.00 29,160,349.00 1,361,940.00 73,786,280.00 1,739,770.00 101,664.00 1,981,070.00 135,775,024.00 5,974,570.00 51,379,982.50 36,934.00 74,847,728.00 960,540.00 47,270.00 7,180,374.00 1,530,800.00 364,516,105.00 5,609,643.00 13,039,390.00 23,345,930.00 644,598,626.00 33,390.00 210,737.00 2,266,080.00 257,120,742.00 292,290.00 148,938.00 18,643,900.00 17,575,010.00 20,967,862.00 624,450.00 489,980.00 12,268,160.00 71,630.00 139,510.00 145,596,140.00 2,890,390.00 515,766.00 42,000.00 33,597.00

138.00 3.43 1144.00 0.600 0.730 44.00 77.05 9.38 2.93 0.700 0.365 5.45 0.700 16.700

196,790 7,979,000 268,340 195,552,000 13,539,000 4,369,200 1,161,670 101,800 21,219,000 3,054,000 29,400,000 9,310,700 6,727,000 5,576,600

27,304,204.00 27,080,050.00 309,041,435.00 118,752,460.00 9,733,060.00 191,725,010.00 89,232,021.50 945,871.00 60,780,660.00 2,114,020.00 10,798,350.00 50,755,915.00 4,648,690.00 93,319,234.00

0.0018 1.23 2.56 11.90 1.2200 1.1400 2.72 0.280 7.79 1.630 0.218 0.112 0.114 0.0096 0.0120 1.21 4.32 1.08 0.4800 0.8700 0.0120 0.0120 3.96 10.46 0.0110 9.7800 23.35 0.0070

2,758,000,000 11,286,000 519,000 9,200 466,000 1,035,000 2,241,000 1,220,000 20,500 437,164,000 13,300,000 16,120,000 5,100,000 93,900,000 48,400,000 43,595,000 706,930,000 4,404,000 90,000 26,128,000 42,700,000 3,300,000 13,688,000 14,405,200 78,600,000 22,080,100 2,996,200 35,000,000

4,598,600.00 14,026,210.00 1,332,340.00 107,406.00 568,600.00 1,168,080.00 6,079,720.00 345,850.00 160,900.00 779,788,750.00 2,926,940.00 1,799,700.00 562,160.00 937,410.00 530,600.00 56,135,360.00 3,063,109,680.00 5,024,660.00 43,700.00 23,941,240.00 508,900.00 39,600.00 55,261,430.00 157,330,544.00 864,600.00 200,687,731.00 68,865,320.00 243,400.00

18.7 102

1,416,100 1,850

26,579,408.00 187,700.00

500 504 101 105.8 495 505 5.2 994 980 99.7 0.98 101.3 1050 1050 1060 101.5 108 995 75.8 78.95 75.8 75.45 78 77 75.6 76.95

13,520 9,950 155,920 9,700 100 13,900 22,508,700 38,030 5,140 153,910 2,031,000 1,720 20 14,325 15,255 1,010 6,250 14,720 330 113,670 63,900 85,910 123,890 48,530 28,160 33,650

6,750,900.00 4,963,670.00 15,747,777.00 1,039,883.00 49,500.00 6,960,300.00 117,045,219.00 37,801,400.00 5,040,000.00 15,025,702.50 2,011,590.00 174,084.00 20,805.00 14,909,160.00 16,026,150.00 101,215.00 675,010.00 14,573,705.00 25,180.50 8,914,018.50 4,828,805.00 6,525,946.50 9,596,379.00 3,711,262.50 2,127,003.50 2,581,393.50

1.650

355,000

572,210.00

6.18 9.9 0.96

12,931,700 9,341,200 13,102,000

83,503,275.00 101,713,319.00 12,504,950.00

Italpinas Kepwealth Xurpas

6.2 12.3 0.98

6,700,900 9,958,700 102,099,000

First Metro ETF

119.8

EXCHANGE TRADED FUNDS 23,070 2,746,212.00

118.9

33,780

3,990,221.00

10.4 10.1 0.98

DOLLAR DENONIMATED SEC. 65,860 680,398.20 2,930 30,079.00 25,500 25,387.40

10.32 10.3 0.98

17,830 3,240 5,000

183,870.20 33,222.00 4,900.00

USD DMPL A1 USD DMPL A2 USD TECH B2

WEEKLY MOST TRADED STOCKS Abra Mining Ferronickel NOW Corp. Vulcan Ind’l. Xurpas Phinma Energy Metro Pacific Inv. Corp. Apollo Global Filinvest Land,Inc. PremiereHorizon

VOLUME 7,227,000,000 174,163,000 115,789,000 112,228,000 102,099,000 88,127,000 87,949,000 85,560,000 79,034,000 77,592,000

STOCKS SM Investments Inc. Ayala Land `B’ SM Prime Holdings Bank of PI Jollibee Foods Corp. Metrobank Banco de Oro Unibank Inc. Ayala Corp `A’ GT Capital I.C.T.S.I.

VALUE 2,017,201,615.00 1,717,368,046.00 1,624,061,105.00 1,338,736,973.50 1,309,953,354.00 1,249,655,245.50 1,246,326,403.00 696,717,025.00 652,474,950.00 637,719,332.00

IN BRIEF DOF to close down tax evading POGOs FINANCE Secretary Carlos Dominguez III ordered the Bureau of Internal Revenue to close down “as soon as possible” the operations of Philippine offshore gaming operators (POGOs) and their service providers that fail or refuse to pay the tax liabilities of their foreign workers. Dominguez also directed the BIR to file the appropriate cases against these tax-dodging firms. Dominguez issued the order over the weekend after learning from the BIR during a recent DOF executive committee meeting of the slow pace of collections of withholding income taxes from POGOs despite the issuance of 130 letter-notices to these firms with tax liabilities amounting to a combined P21.62 billion. He reiterated his directive during a meeting held on Sept. 13 with members of an interagency task force monitoring the entry of foreign workers in the country. “Why don’t we start closing them down so they will answer these assessments,” Dominguez said during the interagency meeting, “Those who don’t pay or respond to your assessments, clamp them down.” Julito G. Rada

Meralco reviewing power auction terms MANILA Electric Co., the biggest retailer of electricity, is reviewing the terms of reference of the competitive selection process on its 1,200-megawatt brownfield power supply requirement after only one bidder submitted a bid. “We are studying that now. Of course we want everyone to be able to join but there are considerations why the TRO for the greenfield is very stringent,” Meralco president and chief executive officer Ray Espinosa said. Meralco held the CSP or bidding for its 1,200-MW requirement on September 10. It declared a failure after only Atimonan One Energy Inc. of Meralco PowerGen Corp. made a bid. “They (bidders) have different reasons for not joining. You cannot adjust everything just to accommodate all their points. We have to study all of their comments and then see what is the best way for us forward to ensure it would be a successful bidding,” Espinosa said, adding the re-bidding will take place within the year. Alena Mae S. Flores

Megaworld, GERI allot P18b for Cavite project MEGAWORLD Corp., the biggest lessor of office spaces, and its subsidiary Global-Estate Resorts Inc., are spending P18 billion over a 15-year period to jointly develop a 251-hectare property at the boundary of Trece Martires City and the municipality of Tanza in Cavite province. Megaworld said in a statement over the weekend Arden Botanical Estate would be a mixed-se development offering several residential and leisure villages, commercial areas, sports and adventure parks and a mixed-use district. “Arden Botanical Estate is a one-ofa-kind township development, which will be curated to engage and stimulate the senses. We will put design and aesthetics at the forefront, and function and purpose at the backbone of its planning,” said Megaworld chief strategy officer Kevin Tan. From the township’s entrance along Governor’s Drive in Tanza, Cavite, a six-lane avenue leads to the Welcome Pavilion and the Town Center, which will be surrounded by arcaded and alfresco commercial areas. Jenniffer B. Austria

SEC advises public to avoid KAPA deals THE Securities and Exchange Commission reiterated it advice to the public to avoid dealing with individual and groups representing KapaCommunity Ministry International amid claims about the supposed revival of the investment scam. The SEC issued the statement over the weekend after various posts on social media claimed that KAPA would soon relaunch its operations under the name, KAPA Worldwide Ministry Association. The SEC said KAPA Worldwide Ministry Association was not registered either as a corporation or as a partnership. It also has no secondary license to solicit investments from the public was issued under such name. The SEC said KAPA could have not successfully registered another corporation, given its history of defrauding investors and a pending criminal complaint against it and its officers and promoters. KAPA was formerly registered as a non-stock corporation. The SEC on April 3 revoked its certificate of incorporation for serious misrepresentation. Jenniffer B. Austria

Business/World

MONDAY, SEPTEMBER 16, 2019 CESAR BARRIOQUINTO, Editor mst.daydesk@gmail.com

Trump confirms the death of Al-Qaeda’s heir W

HAZY SINGAPORE. A man

fishes on a hazy day in Singapore on September 15, 2019. Pollution from forest fires in Indonesia pushed Singapore's air quality to unhealthy levels for the first time in three years on September 14, the government said, a week ahead of the Formula One night race in the city. AFP

ASHINGTON―US President Donald Trump on Saturday confirmed that Hamza bin Laden, the son and designated heir of Al-Qaeda founder Osama bin Laden, was killed in a counterterrorism operation in the Afghanistan-Pakistan region.

Protesters call on UK to protect Hong Kongers HONG KONG―Pro-democracy protesters rallied outside Britain’s consulate in Hong Kong on Sunday, demanding London do more to protect its former colonial subjects and ramp up pressure on Beijing over sliding freedoms. Hundreds of demonstrators sang “God Save the Queen” and “Rule Britannia” outside the consulate, waving the Union Jack as well as Hong Kong’s colonial-era flags. The once-stable international hub has been convulsed by weeks of huge, sometimes violent rallies calling for greater democratic freedoms and police accountability. The movement is the biggest challenge to China’s rule since the city was handed back by Britain in 1997 and shows no sign of ending, with local leaders and Beijing taking a hard line.

Under a deal signed with Britain ahead of the city’s 1997 handover to China, Hong Kong is allowed to keep its unique freedoms for 50 years. Democracy activists accuse Beijing of reneging on those promises by tightening political control over the semiautonomous territory and refusing calls for universal suffrage. Many of the protest signs accused Britain of not doing enough to confront Beijing over its tightening grip on the semi-autonomous Chinese city. “Sino-British Joint Declaration is VOID,” one read, referencing the 1984 agreement that paved the way for the city’s handover, a deal that Hong Kongers were given no say over. “So far I’m quite disappointed by the fact that the UK hasn’t done anything to support us,” protester Alex Leung, a re-

cent graduate, told AFP. Many called for Hong Kongers who want to leave the city to be granted citizenship in Britain or other Commonwealth nations. Some Hong Kongers were given British National Overseas (BNO) passports before the handover, a document that allows holders easy travel to the UK but grants no working or residency rights. “At least with the full citizenship they can protect Hong Kong people from the Chinese government,” protester Anthony Chau, who holds a BNO passport, told AFP. Earlier this week some 130 UK lawmakers signed a joint letter calling for Britain and Commonwealth countries to come up with an “insurance policy” for Hong Kongers to resettle overseas should they wish to. AFP

US media reported more than a month ago, citing intelligence officials, that the younger Bin Laden had been killed sometime in the last two years in an operation that involved the United States. Secretary of Defense Mark Esper said last month that it was “his understanding” that Bin Laden, who was thought to be about 30, was dead. But Trump had not publicly confirmed the news until Saturday―three days after the anniversary of the 9/11 terror attacks by Al-Qaeda, and a week after Trump’s surprise announcement that a planned secret meeting with Taliban leaders at the Camp David presidential retreat had fallen through. “Hamza bin Laden, the high-ranking al-Qaeda member and son of Osama bin Laden, was killed in a United States counter-terrorism operation in the Afghanistan/Pakistan region,” Trump said in a brief statement issued by the White House. “The loss of Hamza bin Laden not only deprives al-Qaeda of important leadership skills and the symbolic connection to his father, but undermines important operational activities of the group.” The statement did not specify the

Tunisia’s voters head to polls for close presidential contest TUNIS―Rarely has the outcome of an election been so uncertain in Tunisia, the cradle and partial success story of the Arab Spring, as some seven million voters head to the polls Sunday to choose from a crowded field. The key players include media mogul Nabil Karoui―behind bars due to an ongoing money laundering probe― Abdelfattah Mourou, who heads a first-time bid on behalf of his Islamist inspired Ennahdha party, and Prime Minister Youssef Chahed. The premier’s popularity has been tarnished by a sluggish economy and a high cost of living, and he has found himself having to vehemently deny accusations that Karoui’s detention since late August is politically inspired. Some 13,000 polling booths opened across Tunisia at 9 A.M. local time (0700 GMT) Sunday, with two dozen candidates vying for a five-year mandate. The election follows an intense campaign beset by personality clashes, albeit one with few clear political

differences, brought forward by the death in July of 92-year-old president Beji Caid Essebsi. He had been elected in the wake of the 2011 revolt that overthrew former dictator Zine El Abidine Ben Ali. Publication of opinion polls has officially been banned since July, but one thing appears certain: many voters remain undecided, due to difficulties in reading a shifting political landscape. “I am undecided between two candidates-I will decide in the polling booth,” smiled one citizen, Sofiene, who added “honest candidates don’t have much chance of winning.” Some hopefuls have tried to burnish anti-establishment credentials in a bid to distance themselves from a political elite discredited by personal quarrels. One key newcomer is Kais Saied, a 61-year-old law professor and expert on constitutional affairs, who has avoided attaching his bid to a political party. Instead, he has gone door-to-door to drum up support for his conservative platform. AFP

IN BRIEF Protests mount in Kashmir clampdown

GALA. Tanya O'Callaghan attends the Mercy For Animals 20th Anniversary Gala at The Shrine Auditorium on September 14, 2019, in Los Angeles, California. AFP

Discovering one’s passion through social entrepreneurship JOVIEL R. TEVES

Green LiGht AFTER college, I knew that I needed to find a job to help my younger sister in her studies. While awaiting our graduation, my college friends and I started to submit our resumés to known companies in the country. As a fresh graduate, I must admit I was disheartened by the level of competition among those seeking employment. While I wanted to work in the city and live with my family, I found myself sending an application letter for a teaching post in a university in the Visayas, through a referral. The department where I applied was looking for a UP graduate, so I took the opportunity and was hired as an instructor. Never did I imagine myself becoming part of academia. After my first semester in the university, I found myself loving my job. Discovering my passion for teaching did not happen overnight, though. My experience made me believe that if one is destined to do something, one will find that passion to pursue it. I will not be surprised if this is the case for social entrepreneurs, who are among those so passionate about what they do. I was privileged to learn the stories of some of them through a study that I con-

ducted for my doctoral class. Let me share their stories with you. Cherrys “Che” Abrigo is the owner and founder of Sierreza, a zero-waste retail and convenience store, advocacy business, and café & restaurant. As a social enterprise that advocates fair trade, it aims to provide a stable market for the organic produce of indigenous people (IP) farming communities. Having gained so much experience from her volunteer work during her college days and from her exposure in the corporate world, she came to a realization that sparked her desire to make a change. Having been convinced that doleouts did not to change the lives of the people in beneficiary communities, but developed an attitude of “dependence” on their benefactors, Abrigo devised a different concept of helping the IP farming communities. Aided by a grant, she came up with a farm-to-market project that linked farmers directly to the market. When the project aid ended, Abrigo established Sierreza, a store that serves as an outlet for various organic products of IP farmers, allowing them to earn a substantial income from their produce. Messy Bessy, which is engaged in the manufacturing of natural, biodegradable, non-toxic home and personal care product, is a home-grown Filipino business founded by Kristine “Krie” Reyes-Lopez. Its social mission is to provide education, employment and rehabilitation for at-risk

timing of the operation, how his longrumored death had been confirmed, or even specifically in which country it occurred. US Senator Lindsey Graham, a Republican, welcomed the development, saying on Twitter that it sent “a strong signal that America never forgets and we will go wherever the terrorists take us to protect our homeland.” Hamza, the 15th of Osama bin Laden’s 20 children and a son of his third wife, was “emerging as a leader in the Al-Qaeda franchise,” the State Department said in announcing a $1 million bounty on his head in February 2019. It said Hamza was married to a daughter of Abdullah Ahmed Abdullah, a senior Al-Qaeda leader indicted by a US federal grand jury in 1998 for his role in the bombings that year of US embassies in Tanzania and Kenya―attacks overseen by the senior Bin Laden. Sometimes dubbed the “crown prince of jihad,” Hamza had issued calls for attacks on the United States and other countries, especially to avenge his father’s killing by US forces in Pakistan in May 2011, the department said. AFP

young adults. Reyes-Lopez joined the corporate world and headed the corporate social responsibility (CSR) program of the company she worked for. In the course of her CSR work, she often felt the need to do more and perhaps do something on her own, not wanting to rely on other people’s money in order to continuously create positive change. During her visit to Delancey Street Foundation, she realized “businesses can empower disadvantaged members of society.” Using this as a template, she established Messy Bessy, which provided not only employment but also education and training to members of its target community. First Harvest is a growing household brand of peanut butter and other spreads. It promotes heritage recipes and the indigenous talents of the women that produced these products. Based in Gawad Kalinga (GK) Enchanted Farm in Angat, Bulacan, First Harvest was founded by Tajen Sui, Catherine Patacsil and Nico Encarnacion, along with two women based in the GK community. The enterprise aims to provide dignified job opportunities to the people they are working with by creating a replicable template for a communitybased enterprise, which utilizes indigenous raw materials and local talent. Common to the owners of these social enterprise is the passion to do something

different that might make an impact on society. Their journey in growing their social enterprises is not devoid of challenges. Specifically, finding the manpower needed for their enterprises was a concern. All three social enterprises utilized the sub-stream recruitment channels—they reached out to their network for referrals, instituted internship programs and hired from their beneficiary communities to fill manpower needs. The choice of the recruitment channel provided the owners some assurance that the recruits are not just joining the enterprise to earn a salary but have in themselves the same passion the owners possess. For young people actively seeking a meaningful existence, reaching out to social enterprise owners might just open the doors for them to discover their passion in life. Joviel R. Teves is a Doctor of Business Administration student of the Ramon V. del Rosario College of Business, and is an assistant professor at the Department of Business Management of the Visayas State University in Leyte. Her research interests are social entrepreneurship and financial markets. She can be reached at joviel_teves@dlsu.edu.ph. The views expressed above are the author’s and do not necessarily reflect the official position of DLSU, its faculty and its administrators.

SRINAGAR―Kashmir has seen an average of nearly 20 protests per day against Indian rule over the last six weeks despite a security lockdown to quell unrest, a senior government source told AFP. Tensions remain high in the disputed Himalayan region after New Delhi’s controversial decision last month to revoke the territory’s decades old semi-autonomous status. Despite a curfew, movement restrictions and the severe curtailment of internet and mobile phone services, public demonstrations against India―mostly in the largest city Srinagar-have been constant, the source told AFP late Saturday. Altogether there have been 722 protests since August 5, with Baramulla district in the northwest and Pulwama in the south the biggest hot spots after Srinagar, the source said. Since that date, nearly 200 civilians and 415 security force members have been hurt, according to the source. Ninety-five of the civilians were injured in the last two weeks, the official said. So far more than 4,100 people―including 170 local political leaders―have been detained across the valley, with 3,000 released in the past two weeks, the official said. AFP

Libya journalists caught in crossfire TRIPOLI―In a country splintered by conflict and propaganda wars, Libya’s journalists are caught in the crossfire between battle fronts and partisan employers, exposing them to risks on the ground. Fighting that erupted in early April when eastern strongman Khalifa Haftar launched an offensive on the capital Tripoli has only exacerbated the cleavages in the country’s already fragmented mediascape. The battle pits the forces of Tripoli’s UN-recognized Government of National Accord against fighters loyal to Haftar, who backs a parallel administration in eastern Libya. The rival sides each run their own news agencies and official television channels. And Libya’s private media outlets have dug in too—taking sides and thereby exposing their journalists to potential reprisals. “Because of the conflict... journalists in Libya can’t do their normal work anymore,” Mohamed al-Najem, who runs the Libyan Center for Freedom of Press, told AFP. Threats and attacks since the 2011 ouster of longtime leader Moamer Kadhafi have prompted several private television networks established by businessmen and politicians in the years immediately after his fall to pull out and transmit from abroad. Some new outlets have followed suit, broadcasting politically charged content from overseas.AFP

LGUs

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

At Malolos rites, Imee calls for national unity

MONDAY, SEPTEMBER 16, 2019

By Orlan l. Mauricio

LOCAL GOVERNMENT UNITS

MALOLOS CITY—Senator Imee Marcos on Sunday called on all freedom-loving Filipinos to unite for a common goal of achieving national development in spite of differences in religion, race and political beliefs during the 121st anniversary rites of the Malolos Congress at the historic Barasoain Church here. Giving her speech during a heavy downpour, Senator Marcos called on Bulakenyos: “Amid an unpredictable time, each one of us has a place and duty to our country’s history. We may not immediately achieve our goals, but if we have unity we will succeed in great endeavors for our motherland.” Marcos praised the province of Bulacan as the cradle of history. “It is in this church where our First Constitution was drafted and the First Republic in Asia was proclaimed, thus we are enjoying our present freedom under a democratic government of the people, by the people and for the entire Filipino people,” the senator added. The delegates at the Malolos Congress of 1898 ratified the declaration of Philippine Independence on June 12, 1898, which paved the way for the birth of the First Philippine Republic in the same year. Ironically, the senator’s father, the late President Ferdinand E. Marcos, abolished the Philippine Congress when he declared martial law on Sept. 21, 1972. Marcos ruled by presidential decrees and executive orders until the Marcos dictatorship was overthrown by the EDSA People Power revolution in 1986.

Senator Imee Marcos (in red) is assisted by National Historical Commission Chairman Rene Escalante in offering a wreath at the Malolos Congress marker at the Barasoain Church patio in Malolos City. Orlan Mauricio

House bills aim to lift PH basic education levels ALBAY Rep. Joey Sarte Salceda has recently filed two bills in Congress that seek to raise Philippine basic education to world class level—House Bill 311, which promotes a state-of- the art school system, and HB 304, which ensures every student, even those in remote and isolated communities, can pursue their studies. Public Schools of the Future (HB 311) seeks to introduce public school students into the digital world, by providing each of the laptop computers (at Grades 4, 7 and 11), and access to the Internet, to prepare them for the “disruptive technologies” of the Fourth Industrial Revolution, Salceda said. It will give students access to knowledge under a Read, Read, Read in elementary, Write-Write-Write in high school, and Math-Math-Math all through out, the lawmaker added. “The Fourth Industrial Revolution that has already started, and designated as Industrial Revolution 4.0, refers to the digital revolution that involves the fusion of technologies which blur the lines separating the physical, digital, and biological spheres,” he said.

Isko shuns WPS, prexy talk By Macon Ramos-Araneta

AYING he just wanted to be fair and honest, Manila Mayor Francisco Domagoso flatly said Sunday he does not know what to do with the West Philippine Sea in case he runs for President. “You asked me about—what will I do with West Philippine Sea? Huh.... I only know about Manila Bay... because I wanted to be fair with you guys,” said Domagoso, when questioned if he would run for the presidency. “Will I qualify as President? No, I still

haven’t done big things for Manila,” said the former actor, who went by the screen name Isko Moreno. Domagoso, who was also a councilor and vice mayor, also assured he would not take advantage of his current fame and popularity to join the presidential

bandwagon in the coming May 2022 elections. He lamented that a lot of people had used their popularly to seek elective positions, but in the end, they failed in their job and eventually, the people suffered. “When they were already there, they failed to manage the country and the people. They failed, and people suffered,” related Domagoso, who vowed he would not let himself be a part of the people’s sufferings. Being born and brought up in the slums of Tondo, the country’s face of poverty, the phenomenal rise of Domagoso to

Manila’s highest seat thrust him into the limelight. He continues to make waves here and abroad, due to significant changes he made in the country’s capital. Ambassadors, consuls and leaders from across the world have been meeting Domagoso to offer help or just congratulate him for saving the deteriorating Manila due to “wanton neglect, mismanagement, and corruption” under the past administrations. “I know you are frustrated already,” Domagoso told his supporters amid the mounting clamor for him to join the presidential race.

IN BRIEF Navotas cops nab 23 for illegal drugs MAYOR Toby Tiangco lauded the Navotas City Police Station following Thursday’s arrest of 23 individuals for possession of illegal drugs. Operatives from the Station Drug Enforcement Unit confiscated 31 plastic sachets of shabu and P500 marked money in two buy-bust and four separate surveillance operations. “Navotas is indeed fortunate to have a hardworking police force. Their commitment to their duty, despite the danger it entails, helps ensure that we can win the war against illegal drugs,” he said. Tiangco, however, noted that keeping Navotas safe is the responsibility of every Navoteño. “Each of us has a role to play in ending the drug menace. By reporting illegal activities, you can help us put drug personalities in jail and treat those suffering from drug addiction,” he said. Jun David

FCF transparency reporting via GRI QUEZON, Nueva Vizcaya—FCF Minerals Corp. based here has embarked on a publication project in a bid to boost their transparency reporting. FCF has commissioned the University of Asia and the Pacific-Center for Social Responsibility for the production of its 2018 Sustainability Report using the Global Reporting Initiative. UAP-CSR’s professor Colin Hugo said the GRI is the most widely accepted framework for sustainability reporting. “The GRI works towards the same goal as FCF Minerals Corp’s transparent, meaningful and consistent engagement for gathering stakeholders’ needs and interest in our activities,” he said. Hugo added that the systematic stakeholder engagement can enhance the usefulness of the company’s Sustainability Report to their clients. FCF has already published their 2018 Sustainability Report, the first publication with the UAP-CSR which covered the reporting period of Jan. 1, 2016 to Dec. 31, 2017 which introduces the company’s framework for sustainability, measured impacts and documented stories of stakeholders. Ben Moses Ebreo

SM-BDO AID. (Left photo) More than 100 participants graduated from SM Foundation Inc’s Kabalikat sa Kabuhayan Farmers Training Program at SM City Taytay. They received their certificates of completion in ceremonies after a 12-week training on farming techniques. (Right photo) A family thanks the BDO Foundation and UN-Habitat for completing the construction of 100 disaster-resilient permanent shelters, complete with water and sanitation facilities, for Tacloban City residents affected by Typhoon ‘Yolanda.’ Norman Cruz

BDO Foundation builds 100 homes for Taclobanons BDO Foundation, the corporate social responsibility arm of the Philippines’ largest bank, continues to support survivors stricken by one of the worst natural disasters in the country’s history. In line with its disaster response advocacy and longterm rehabilitation and reconstruction programs, the foundation, in partnership with the United Nations Human Settlements Programme (UN-Habitat), built 100 resettlement homes in Tacloban for families displaced by Typhoon “Yolanda.” Located in Barangay Cabalawan, Tacloban City, the single-detached permanent shelters with rainwater collection system were officially turned over to members of the Villa de Tacloban Homeowners Association, the

beneficiaries of the project. The turnover and awarding of keys were led by BDO Foundation president Mario Deriquito, BDO Foundation program director Rose Espinosa, BDO Tacloban-Justice Romualdez branch head Dennis Mascariñas and UNHabitat project manager Warren Ubongen. The disaster-resilient housing units form part of the foundation’s contribution to UN-Habitat’s PostYolanda Support for Safer Homes and Settlements program as well as its mission to promote socially and environmentally sustainable human settlements development and the achievement of adequate shelter for all. The multi-sectoral initiative was backed by the city

government of Tacloban, City Housing and Community Development Office, Department of Social Welfare and Development, Housing and Urban Development Coordinating Council, Social Housing Finance Corp. and United Architects of the Philippines. The housing project in Tacloban is just one of several projects successfully completed by BDO Foundation for people affected by Typhoon ‘Yolanda.’ In partnership with the Foundation for These-abled Persons Inc., a non-profit organization that promotes the welfare of persons with disabilities, the foundation has also built resettlement homes in Sta. Fe, Leyte for a community of PWDs left homeless by the super typhoon.

Rizal’s PACE takes 10th Culinary Cup By Joyce Pangco Pañares THE Rizal-based Professional Academy for Culinary Education has bagged the overall champion title in the recently concluded 10th Philippine Culinary Cup. “We are truly humbled. It is a great feat to be recognized as one of the best but the mutual respect and encouragement from your peers in the industry is priceless,” said PACE culinary captain Chef Lowell Cauilan, himself a gold medalist in the culinary cup. For the first time in a decade, a province-based school has bested other competitors in the PCC, the only culinary competition in the country sanctioned by the World Association of Chef Societies to showcase the best of the best in the industry. The Rizal-based Professional Academy for Culinary Education poses with the overall cham“The culinary education scene is pion trophy of the 10th Philippine Culinary Cup. evolving. We are not just training chefs

anymore but entrepreneurs as well. This makes PACE more inclusive as we use culinary education to provide more opportunities for our graduates” said school administrator Mark Catarroja. According to Catarroja, it took five years of learning while in competition, 62 bronzes, 37 silvers and five gold podium finishes for PACE to achieve where it is right now. “Success is no accident. It takes hard work, perseverance and humility to learn. And most of all, to love what you do spells the difference in achieving success,” Catarroja said. “The feat of being an overall champion in the non-professional category will serve as an inspiration for us to be better and take risks moving forward for the benefit of our students and alumni,” added fellow PACE culinary captain Chef Menoy Gimenez.

Life

Wok Hey’s signature egg fried rice with seasoned prawn.

Wolf Burgers’ Original Wolf (Beef).

Bernadette Lunas, Issue Editor manilastandardlife@gmail.com @manilastandardlife @MStandardLIFE

FOOD

MONDAY, SEPTEMBER 16, 2019

Hot and fresh from Singapore Food and lifestyle pop-up features The Lion City’s popular eats

OME of the popular bites from the country that considers eating a national pastime were brought in to the country whose people love to try virtually any kind of food. In celebration of the 50 years of diplomatic relations between Singapore and the Philippines, government agency Enterprise Singapore and The Podium Mall staged on Sept. 6-15 an exclusive lifestyle and food pop-up, Singaporium at The Podium Mall―just in time for the mall’s grand opening on Sept. 10. The exclusive event offered Manila consumers a chance to experience the flavors and sights of The Lion City. It also provided the participating 17 Singaporean brands a chance to reach a new market, as is the goal of Enterprise Singapore. Foodies tried authentic Singaporean bites at the pop-up on the second level of the mall. There were the customizable burgers from Wolf Burgers, succulent satay―the traditional skewered meat grilled over slow-burning charcoal―at Juamain Sataysfaction, and Singaporean noodles from 73-year-old heritage noodle house Ming Fa. Singapore’s take on Western dishes such as roasted BBQ pork ribs and roasted chicken leg quarter were offered at Collin’s booth, while Stuff’d offered healthy and fresh Halal-certified Mexican and Turkish food. Mouthwatering wok-fried rice bowls from Wok Hey delighted mall-goers, as was Asian drink purveyor Yeo’s with its ready-to-drink teas, soy drinks, and juices, and bean-to-bar maker Benns’ melt-in-your-mouth chocolate. In addition to food and beverage brands, Singaporium also showcased a couple of fashion and lifestyle brands such as Second Nature, a clothing label that focuses on creating comfortable everyday wear, and Her Velvet Vase, a retail brand that offers clothing and accessories designed in-house and sourced from all over the world. Also present were health and wellness brand Osim, skin care and face spa company Porcelain, and Singapore Airline’s flagship retailer KrisShop. Toy design studio Mighty Jaxx, Singapore’s premier entertainment cafe Play Nation!, artisanal crafts company Beynd Artisan, and stationery and gift shop Klosh showcased their products and services as well.

Chef Edmund Toh of Collin’s

Matthew George, head of operations of Stuff ’d.

Jerome Lim, director of Ming Fa, is the third-generation owner of the homegrown fishball noodle chain.

Mike Penafort, managing director of Benns Chocolate which is known for its range of thoughtfully curated artisanal chocolates.

Enterprise Singapore’s development partner Tricia Liu and deputy director Tan Ying Xia.

Jumain Sataysfaction’s satay served with sauce, rice, and pickles.

Everything right about Wrong Yakiniku

Unlimited ebi tempura is included in the P599 buffet set.

SAMGYUPSAL and yakiniku buffets have sprouted everywhere in the metropolis, most featuring cute pigs and cows as mascots, and some even giving free roses to customers―romantic! But in a quiet neighborhood in West Fairview, an oddly named restaurant combines the best of both worlds―a Japanese yakiniku buffet in a Korean samgyupsal grill setting. “Filipinos have long loved Japanese food. Now, Korean grill is the trend. We thought of combining the two concepts and came up

Japanese skewers meet Korean samgyupsal grill in Wrong Yakiniku.

The buffet comes with a huge serving of pork ramen.

with Wrong Yakiniku,” said 33-yearold Kurt Cortuna. Cortuna teamed up with his childhood friend, 30-year-old chef Ron Ramirez, in setting up the restaurant that features state-of-the-art charcoal grill and freshly cut meat. “The biggest difference between Japanese yakiniku and Korean samgyupsal is that yakiniku meat is not marinated. That is how conﬁdent we are of the freshness and quality of our meat―they are cut fresh every time you order, and there is no marinade to mask the

color of the meat,” said Ramirez. Here are some unique features of Wrong Yakiniku: • There’s a buffet spread for the appetizers, including various kinds of Japanese maki, sushi, and temaki; • They serve soju and sake, as well as mango Yakult, for a separate price; • Their unli-cheese is not your regular melt-your-cheddarcheese-on-the-grill type. It is a combination of four cheeses, including mozzarella, which gives it an almost Italian vibe; and • The premium buffet set (P599) already includes meat-allyou-can and unlimited servings of salmon sashimi, ebi tem-

pura, pork ramen, yakiniku skewers, kimchi, tteokbokki, ﬁsh cake, japchae, udon, and gyeran jjim,among others. “We are the ﬁrst restaurant to offer such a concept,” said Ramirez, who also runs a Japanese restaurant, Hiromitsu, in Pandi, Bulacan. This early, the two young entrepreneurs are eyeing the possibility of doing franchising, noting how they expect to recover their investment in the restaurant within six months from their August opening. “Franchising is an option for us,” said Cortuna. Future partners may opt for an allin package worth P8 million, which Cortuna described as “the complete deal―we will look for the place, set up the restaurant, do the training for the staff―literally, ribbon cutting na lang ang kulang.” For those who are willing to build the brick-and-mortar themselves and would just like to franchise the name and avail of the training, they can fork out a lesser amount of P2 million. “Our customers are mostly returning ones. I guess we did something right, despite of ‘wrong’ name,” added Ramirez. I’m at joyce.panares@gmail.com.

Life

MONDAY, SEPTEMBER 16, 2019 manilastandardlife@gmail.com

Fundraising dinner serves dishes from the farm Wagyu Tenderloin MB7

Yellowtail and Crab

Michelin star chef serves a special 9-course feast

Backyard Farms Chicken Liver Paté on Baked Crostini

OR the second installment of Mulberry Door by nawwTy’s kitchen’s three-part collaborative dinner in celebration of its second anniversary, the restaurant teamed up with Backyard Farms and MothersWhoBrunch to host the FREE fundraising dinner.

Slow-cooked Honey Ginger Backyard Farms Pork Rib Stew with bacon paella blanca

Grilled Prawn Salad with spicy peanut sauce

This time around, the beneficiary was Best Buddies Philippines, an organization dedicated to create opportunities for and forge friendships with people with intellectual and developmental disabilities. “Trish [Panlilio] was one of the first collaborators we had for Backyard Farms when we first started,” shared Jenny Yrasuegui of Backyard Farms, a distributor of all-natural products. Yrasuegui continued, “So when she approached us to ask if we would be interested to collaborate again this year, we said ‘yes’,” further noting that she was motivated not only by celebrating food but also by giving back to the local food industry. Meanwhile, for Michelle Aventajado and Sabrina Go of MothersWhoBrunch, taking part in this dinner series meant collaborating with like-minded women––all for a greater cause. “This company is mindful in all they do, and what they bring to the table,” said Aventajado. “It’s wonderful to be able to collaborate for this cause that is near and dear to my heart.” The dinner highlighted the pasture-raised livestock of Backyard Farms and including some of Holy Carabao’s produce in the mix. The menu for the FREE fundraising dinner started off with an appetizer of Backyard Farms Chicken Liver Paté on Baked Crostini, followed by a sweet-meets-savory Glazed Peach and Backyard Farms Pork Rillete Vol-Au-Vent. It then took an oriental turn with delectable Grilled Backyard Farms Chicken Ramen with poached egg, edamame, and crisp nori, followed by Grilled Prawn Salad with spicy peanut Sauce. The dinner finished strong with Slow-cooked Honey Ginger Backyard Farms Pork Rib Stew with Bacon Paella Blanca––made with pork from Backyard Farms, of course. No dinner is complete without the much awaited dessert. For this dinner, the sweet course was specially prepared by MothersWhoBrunch—MWB Mango Surprise, a ginger-spiced butter cake and black sesame cookie topped with mango compote and burnt rice cream. The next and final stop for the nawwTy Gives Back dinner series is in October, with the dinner planned in partnership with Jeannie Javelosa of GREAT Women. Taking some of the best ingredients from Holy Carabao and Backyard Farms, Panlilio will be preparing a one-of-a-kind menu for the GREAT Women Stock Purchase Fund for Weavers. Contact 0918-9987474 or email nawwtygivesback@gmail.com for ticket inquiries.

STEVAN Tan of SM Supermalls recently hosted a special degustation dinner featuring renowned Michelin star Japanese chef Yoshiaki Ito of L’Archeste in Paris, France, alongside Hiroyuki Meno of Epilogue at S Maison. The dinner, dubbed “Four Hands Collaboration,” was a magniﬁcent reunion of two talented chefs who brought the sophistication of a French-Japanese nine-course meal. Guests feasted on St-Jacques, Beignet, Pissaradiere, Gazpacho, Yellowtail and Crab, Giant Grouper, Foie Gras, Wagyu Tenderloin MB7, and Vacherin—these gastronomical European dishes were crafted with some in- Chefs Yoshiaki Ito and Hiroyuki Meno. gredients that were locally sourced. Ito spent 18 years working with the Hiramatsu Group in its various Michelin-star restaurants in France and served as executive chef for 10 years at the one Michelin star Hiramatsu in Paris. He rose to fame after earning a Michelin star in a record of ﬁve months for L’Archeste, which opened in September 2016. Meanwhile, Meno honed his craft working in various Michelin-star restaurants. He was the executive chef of Brasserie Paul Bocuse and Maison Paul Bocuse, both in Tokyo.

SIP Chill with CoCo Tea CULT-FAVORITE milk tea brand CoCo Tea is holding a three-day Chill Camp at SM Megamall Fashion Hall as its way to return the love to its customers. The event, which will kick off on Sept. 17, will be packed with fun-ﬁlled activities, interesting IG spots, and exclusive CoCo merchandise up for grabs. “We wanted to do something that’s going to personally involve every CoCo lover out there. This is our way of sharing the joy of CoCo with them,” says Larry Tan, general manager of CoCo Philippines. CoCo was brought to the Philippines ﬁve years ago by Tan straight from Taiwan. Since then, it became an instant hit among Filipinos, with long lines seen in all of its 37 branches nationwide. CoCo reported that a cup is sold every four minutes via GrabFood. Along with CoCo favorites 3 Buddies Milk Tea, Panda Milk Tea, White Pearl Milk Tea, and Passion Fruit Tea Burst, the company has launched on Sept. 6 a new beverage exclusive only to the Philippine market. The Caramel Chocolate Cream Slush is a drink rich in waves of caramel blended with chocolate slush over velvety salty cream. Head over to SM Megamall for the CoCo Chill Camp.

3 Buddies Milk Tea

BITES How to get 19-peso Charlie Chan pasta IN CELEBRATION of Charlie Chan’s birthday on Sept. 19, Yellow Cab treats loyal patrons to an exciting promo: Buy one large Charlie Chan pasta and get a regular serving for only P19. Enjoy a generous serving of juicy chicken strips, fresh shiitake mushrooms, and crunchy roasted peanuts mixed in a one-of-akind spicy oriental sauce—a combination of sweet and savory ﬂavors in one plate. “September 19 is all about honoring our favorite Charlie Chan pasta. We are excited by all the positive feedback we’ve received from our customers about our unique dish and are delighted to give them this chance to celebrate with us by having them enjoy this bestseller at a special price,” said Charlene Sapina, marketing head of Yellow Cab Pizza Co. This offer is available for dine-in, take-out, delivery, and curbside pick-up transactions nationwide on Sept. 19 only. Charlie Chan Pasta

Chocolicious treat CHOCOLATE lovers are in for a special limited offer treat with Tim Horton’s new Choco Snow Donut. The yeast donut rolled in snow powder is made more delectable with chocolate brownie ﬁlling. It is available until Sept. 30 only for P55 each. Pair this sweet treat with Frozen Hot Chocolate, a combination of Tim Hortons signature hot chocolate and milk in frozen blended beverage with whipped topping and dark chocolate shavings; or Cookies and Cream, a Frozen Blended Beverage with double shot of cream, ﬂavored with Chocolate and Shortbread cookie, and topped with whipping cream and Cookie crumbs. The Choco Snow Donut is available at Tim Hortons branches.

Tim Horton’s new Choco Snow Donut

Entertainment

MONDAY, SEPTEMBER 16, 2019

nickie.standard@gmail.com

Freestyle on live streaming starting Sept. 21 THE performances of Freestyle Band in music lounges, bars and other popular entertainment venues will soon be augmented by the group’s presence live on social media. Starting Sept. 21,Freestyle will launch the pilot episode of their live streaming, Freestyle Sessions, on FaceBook. Through online live streaming, enjoy a night of casual and intimate fun, music, one-on-one interaction, Q and As, shout outs with Freestyle in real time, simultaneously recorded and broadcast

Pop and R&B band Freestyle

Cueshé to rock Winford Manila THE stage is set for multi-awardwinning OPM band Cueshé at Winford Manila Resort & Casino (WMRC) on Sept. 21, 8:00 p.m.. Bannered under the Saturday Special concert series held at Hippodrome Bar & Lounge, this one-night only live performance is free for casino ﬂoor viewing for all WMRC members and guests who are 21 years old and above. For those after a more intimate concert experience, VIP tickets are available for only P1,250 nett per person. Each ticket includes a prime seat near the Hippodrome stage and is

inclusive of food and drinks. Known for their hits “Stay,” “Ulan,” “Borrowed Time” and many others, the current lineup composed of Ruben Caballero, Jovan Mabini, Fritz Labrado, and Cesar Delos Santos promises to rock the night away with their distinct brand of OPM pop alternative music. Visit www.winfordmanila. com for more information or call the hotline at +63 (2) 528-3600 for inquiries. Follow Winford Manila on Facebook, Twitter, and Instagram for the latest updates on special events and promotions.

through social media. Prizes are at stake. The music video of Freestyle’s latest original song, “GirlFriend,” will also be released. The song is expected to duplicate Freestyle’s unforgettable hits such as “Before I Let You Go,” “So Slow,” “This Time” and “Bakit Ngayon Ka Lang.” The song, “GirlFriend,” is now available on Spotfy. Freestyle is under 1Entertainment Inc. and managed by Celeste Pacana. Present line-up of members include lone female vocalist Ava Santos, Joshua

Dive into Mexican cinema at Shangri-La Plaza’s Cine Mexico

O FOREIGNERS, Mexico is known for its vibrant culture, delicious food, and awe-inspiring Mayan ruins. But in recent years, it has become associated with one speciﬁc art form: cinema.

Two of the past five Best Picture winners at the Oscars have been films by Mexican directors— Alejandro Iñárritu’s Birdman and Guillermo del Toro’s The Shape of Water. Most recently,Alfonso Cuarón’s spellbinding Roma has received immense critical acclaim, helping to cement Mexico’s reputation as a thriving center for contemporary cinema. At Shangri-La Plaza, the lush, beautiful films of Mexico bathe in the spotlight with the Cine Mexico film festival on Sept. 20 to 24 at the Red Carpet in partnership with the Embassy of Mexico in Manila and the Film Development Council of the Philippines. With the richest cinematic tradition in Latin America, Mexico consistently produces films of the utmost quality. Through

Cine Mexico, mall guests at the Shang continue to expand their cinematic knowledge and experi-

Filipino rock band Cueshé

Very Wang... From C4

Joseph or Sep is not your average vendor along the buzzing streets of Divisoria. He uses his undeniable charm and enthusiasm to get through the tough days. Together with his adoptive mother, Strawberry (Jo Berry) who sells fruits for a living, and adoptive grandmother, Lola Char (Elizabeth Oropesa) who is a self-proclaimed fortune teller in Quiapo, Sep continues to ﬁnd the silver lining amidst the harsh realities of life. The show’s creative team is composed of creative director Aloy Adlawan; creative head RJ Nuevas; creative consultant Arlene Navarro-Punio; headwriter Agnes GageloniaUligan; writers Rona Lean

Sales, Patrick Ilagan, Loi Argel Nova; brainstormers El Agustin Ortizluis, Meryl Margaux Bunyi. This original series, created by the GMA Drama group, is headed by the SVP for Entertainment Group Lilybeth G. Rasonable, VP for Drama Redgie A. Magno, AVP for Drama Cheryl Ching-Sy, Senior Program Manager Helen Rose Sese and Executive Producer Shielyn Atienza. Under the helm of esteemed Director LA Madridejos, catch the world premiere of The Gift beginning Sept. 16, weeknights, after Beautiful Justice on GMA Telebabad. Kapuso viewers from across the globe can also catch their favorite Kapuso shows via GMA’s international channels GMAPinoy TV, GMA Life TV, and GMA News TV International. For the program guide, visit www. gmapinoytv.com.

CROSSWORD PUZZLE Monday, September 16, 2019

ACROSS 1 Rigging support 5 Soak in the tub 10 Curds companion 14 Pierre’s head 15 Common phrase 16 London park 17 Field 18 Harvest decoration 20 Ring-shaped cake 22 Violin part 23 Owls’ cries 24 Kids around 26 College degrees 27 Counts on 29 “Anyone home?” (hyph.) 32 Magic word 33 Inch fractions 34 Noon on a sundial 36 Old car window 37 Frontier saloon plus 39 Rugged 40 Average grade 41 Nave neighbor 42 Crystal-filled rocks 44 Kind of agent 46 Hunter’s trophy 47 Arithmetic verb 48 Chow down 49 1836 battle site

52 Author Umberto — 53 Orlando attraction 57 Meeting presiders 60 Certain something 61 Gemstone 62 Smelled bad 63 Stuff 64 Pocket janglers 65 Easy victim 66 Iodine source DOWN 1 Use a dagger 2 Pizarro’s conquest 3 — — foot pole 4 Adapt anew 5 Razor brand 6 Passes a bill 7 Trunk items 8 — Kong 9 Ostrich kin 10 Rushing sound 11 Injection 12 Check manuscripts 13 Affirmative votes 19 Physics study 21 Audition 25 Paused 26 Deli staple 27 Trunk possessors

28 “Walk Away —” 29 Female principle 30 Water or rust 31 Tanker 32 Pipe type 33 Novelist Rita — Brown 35 GI tags 38 Devotee 39 Canine hunting group (2 wds.) 41 Burning desire 43 French I verb 45 Dromedaries 46 Potential oaks

48 Tonto’s horse 49 In a frenzy 50 Long, easy stride 51 Marvin Lee — (Meat Loaf) 52 Sundance Kid’s girlfriend 54 Restore to health 55 Spoken 56 Push down 58 Cobra cousin 59 Cloud locale

Desiderio on vocals, Mike Luis on vocals and keyboards, Gerd Banzon on drums, Gino Aguas on lead guitar, Joel Guarin on bass and Bobby Velasco, musical director and keyboardist. This month, the band performs at 19 East on Sept. 24, Historia on Sept. 27 and Twelve Monkeys on Sept. 28. On Dec. 4, expect Freestyle to rock the holidays as they join Side A, South Border and True Faith for a back-to-backto-back-to-back concert at the Newport Performing Arts Theater (NPAT) at Resorts

'Qué Culpa Tiene el Niño (Don’t Blame the Kid)'

ence the best in entertainment. Como Agua Para Chocolate (Like Water for Chocolate) is a 1992 classic that follows a young girl named Tita. Though she is desperately in love with a man named Pedro, her mother doesn’t allow her to marry him. When Pedro weds Tita’s sister instead, she immerses herself in cooking. Through this therapeutic pastime, she discovers that she can magically infuse her emotions into her cooking. Qué Culpa Tiene el Niño (Don’t Blame the Kid) is a 2016 romantic comedy about a woman who accidentally becomes pregnant but decides to marry the father of her child anyway, even though he’s immature and unemployed. The movie stars

Karla Souza, one of Mexico’s most popular actresses, who is best known to international audiences for playing Laurel on the award-winning legal thriller How to Get Away with Murder. Poignant and heartfelt, the animated film El Angel en el Reloj (The Angel in the Clock) centers on Amelia, a little girl with leukemia who is whisked away by an angel in an attempt to stop time. In a realm where she must navigate hundreds of floating clock-castles in the sky, she learns about the importance of living in the present. La Carga (Load) is an epic romantic drama about the quest for freedom. In the late 16th century, an indigenous man and a Spanish noblewoman escape into the New World to find a better life. Along the way, they learn to resolve their differences and become more intimate with one another. La Carga bagged 7 nominations at the Ariel Awards, the Mexican equivalent of the Oscars. In the 2015 romantic comedy Enamorándome de Abril (Falling in Love with Abril), two writers with nothing in common spend a night together. He’s a steely journalist who secretly publishes books under a female name, and she’s a romance writer who uses a male pseudonym. After meeting, they begin to question everything they thought they knew about love and relationships, sending each one on a hilarious identity crisis. La Boda de Valentina (Valentina’s Wedding) gives audiences a new take on the wedding comedy. Valentina, a scion from the most chaotic political family in Mexico, leads a blissful life in America. Thinking she has escaped all the drama, she gets engaged to Jason, her American boyfriend. When Jason insists they go to Mexico to meet her family, Valentina is sucked into her father’s re-election campaign, her crazy family’s antics, and her possessive ex, Alex. In the 2018 comedy Cuando Los Hijos Regresan (The Kids are Back), an elderly couple finally retires, happy to live a life with no more responsibilities. But out of nowhere, their grown children start moving back into the house, forcing them to become parents to a horde of adult babies. With a whole new cinematic culture to dive into, the Shang gives mall guests more ways to indulge in the arts and entertainment. #FeelTheShangVibe with Cine Mexico, an immersive look into the film capital of Latin America. For inquiries, call 370-2500 loc. 597 or visit www.facebook.com/shangrilaplazaofficialfanpage. Follow the Shang on Instagram: @shangrilaplazaofficial.

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

Entertainment

MONDAY, SEPTEMBER 16, 2019

VERY WANG

Alden with Jo Berry, who plays his adoptive mother in 'The Gift.'

NICKIE WANG

Gina Lopez' legacy continues in 'G Diaries' as it returns with its fourth season on ABS-CBN.

IEWERS can invite Alden Richards again in their living room as he plays another character that promises to touch everyone’s life.

He has portrayed numerous roles on TV and in the movies. His credits go on, and just like the most successful actors, it didn’t happen overnight for him, which is why he’s very particular when it comes to playing any character on screen—that it has to be inspiring, something that can have a positive impact on viewers. In the new series entitled The Gift, Alden is Sep, a street smart and high-spirited vendor in Divisoria. One faithful afternoon, a commotion happens in the market place. He’s one of the casualties and the incident left him visually-impaired. The universe has other plans for his though. After the incident, Sep suddenly starts having a vision of the past and the future. Sep has been given the gift of ‘clairvoyance’ or the ability to see things beyond the naked eye. Alden has undergone blind immersion training to be able to fully understand the culture of the visually-impaired people, shared his realizations upon accepting the challenging role. “Sometimes we take things for granted, normal lang na nakakakita tayo but once na mawala siya, parang that really got me,” the Pambansang Bar told reporters during the series media conference. “Actually, I felt a bit sad when naexperience ko kasi ang hirap mawalan ng paningin. After that immersion, I interviewed people who can see before sila nabulag and nainspire ako sa kanila na tipong ‘what can be my contributions to society now that I’m blind? Iyon ‘yung gusto kong mabaon ng mga manonood sa The Giftbibigyan natin sila ng place sa mundo ng mga taong hindi nakakakita para mas maintindihan natin sila,” he said. Playing important roles in the life of Sep are the members of the Marcelino family: Christian Vasquez as Javi-

Ernie Lopez takes the wheel for late sister Gina

A GIFT FROM

Alden Richards er, Nadia’s unfaithful second husband who is a shrewd businessman and a controlling father to his son whom he aspires to be a politician; Martin del Rosario as Jared, son of Nadia and Javier who is always out to please his father and will make use of Sep’s gift for his personal interests as a young politician; Ysabel Ortega as Sabina, brat but good-natured daughter of Nadia and Javier; Betong Sumaya as Asi, the trusted assistant and driver of Javier and Jared; Tetay as Tonya, Nadia’s best friend and Javier’s wealthy cousin; Rochelle Pangilinan as Francine, Javier’s feisty and entitled executive assistant and mistress; Luz Valdez as Puring, Javier’s doting grandmother who took care of him when his parents passed away. Giving life and meaning into Sep’s journey are: Elizabeth Oropesa as Lola

Char, Sep’s adoptive grandmother who saved him from an attempted kidnapping in Quiapo when he got lost as a kid; Victor Anastacio as Andoy, comical leader of young delinquents in Divisoria who adores Amor; Mikoy Morales as Bistek, outgoing friend of Sep and Amor who sells anything under the sun in Divisoria; Thia Thomalla as Faith, fancied by Sep and dubbed as the ‘Princess of Divisoria’ for her beauty and for being the daughter of a wealthy fabric store owner; Mikee Quintos as Amor, a spunky vendor who secretly admires Sep; Jo Berry as Strawberry, Sep’s adoptive and overprotective mother who doesn’t let her disability get in the way of providing for her family; and Jean Garcia as Nadia, Sep’s biological mother who loses her faith in God after the death of her ﬁrst husband and the disappearance of her son. The Gift also features the special participation of TJ Trinidad as Gener. Continued on C3

THE legacy of love of Gina Lopez lives with G Diaries fourth season debut on ABS-CBN yesterday, Sept. 15. This season, the 30-minute program shares inspiring stories of ABS-CBN Foundation beneﬁciaries and will feature celebrity guests who will travel and immerse themselves in different communities aboard the “Share the Love” bus. The “Share The Love” bus is ABSCBN’s public service on wheels. It is designed to go anywhere to serve and help Filipinos in need. It can carry “Gusto Kong Mag-aral” bags (school supplies), soup kitchen materials, seedlings for planting, and volunteers. Continuing the multi-awarded travel show of the late Gina Lopez is her brother Ernie Lopez, who will take the wheel as the program host, sharing stories of hope and transformation to the people. “No one can take her place, but that does not mean that we should quit. We should not give up on her mission to share the love. Gina, with God’s grace, we will

continue to share the love),” said Ernie, who also serves as president of the ABSCBN subsidiary Creative Programs Inc. The show also features the impact of ABS-CBN Foundation’s Yolanda projects nationwide, touching base with people assisted directly by the foundation to see how their lives improved in the past six years. G Diaries ﬁrst aired in 2017 with the goal of uplifting the lives of marginalized communities by showcasing their stories and presenting the abundance of their natural resources as well as local efforts to develop their area, while encouraging viewers to do their part by supporting these local communities’ endeavors. It has won several awards such as the Most Development-Oriented Environmental Program at the Gandingan Awards 2019 and Best Adult Educational and Cultural Program at the Catholic and Mass Media Awards 2019. Watch G Diaries Season 4 “Share the Love” on ABS-CBN Channel 2 every Sunday at 10:15 a.m..

INTERNATIONAL

Netflix, Apple cross swords in Indian streaming market COMPETITION in India’s booming streaming market is heating up as Netflix joins forces with a director of Bollywood feel-good blockbusters and Apple launches its TV platform for 99 rupees ($1.39) a month. Netflix announced late Wednesday a long-term partnership with Karan Johar’s Dharmatic Entertainment to make a range of new fiction and non-fiction series and films for the platform. Johar has directed eight films including Kuch Kuch Hota Hai with Bollywood megastar Shah Rukh Khan, and Raazi, nominated for best picture at next week’s Indian International Film Academy (IIFA) Awards, dubbed the Bollywood Oscars. “It’s going to be P.H.A.T—pretty hot and tempting,” said Johar, whose Dharma Entertainment is one of India’s biggest production firms and which already teamed up with Netflix for the successful Lust Stories anthology. Netflix launched in India in 2016 and two of its Indian-made series have won critical acclaim—Sacred Games starring Saif Ali Khan and Nawazuddin Siddiqui, and Leila with Huma Qureishi. But Netflix faces stiff competition in Asia’s third-largest economy as Amazon’s Prime Video, Disney’s Hotstar, Alt Balaji and other local platforms jostle for digital subscriptions and eyeballs. US technology giant Apple on Wednesday announced the launch of its streaming platform Apple TV+ in India, hoping to upend competition. Netflix is available in India from 199 rupees a month and as millions of first-time users access internet in Asia’s third-largest economy, analysts expect competition to intensify India’s video-streaming industry is expected to grow at nearly 22 percent per annum to 119 billion rupees ($1.7 billion) by 2023 according to consultancy PwC, Bloomberg News reported. AFP ***

‘Glory to Hong Kong’: The new anthem embraced by protesters

Asia's Multi-media Star Alden Richards plays a named Sep, who is inspiring and hopeful despite his difficulties as a blind man.

Beauty Queen Thia Thomalla is Alden’s love interest in the new series.

A DEFIANT protest anthem penned by an anonymous composer has become the unofficial new soundtrack to Hong Kong’s pro-democracy protests, belted out by crowds at flashmobs in malls, on the streets and in the football stands. “Glory to Hong Kong” first appeared on YouTube on Aug. 31 and has quickly won a huge following among those pushing for greater democratic freedoms in the semi-autonomous Chinese city. In less than a fortnight the original version has racked up more than 1.3 million views while multiple copycats videos have been made —including one featuring an entire orchestra decked out in the helmets, goggles and gas masks worn by those on the barricades. Alongside the Christian hymn “Sing Hallelujah to the Lord”, “Glory to Hong Kong” is a riposte to the city’s unelected leaders and Beijing after more than three months of huge and sometimes violent protests. Little is known about the composer, who gave himself the online pseudonym “Thomas dgx yhl.” But the song’s lyrics and melody have quickly spread within the movement. During a football match on Tuesday night between Hong Kong and Iran, crowds of local fans booed the Chinese national anthem, and then sung the new protest song as the match began. AFP

STIMULATING THE PH ECONOMY

Ray S. Eñano, Editor Roderick T. dela Cruz, Assistant Editor business@manilastandard.net extrastory2000@gmail.com MONDAY, SEPTEMBER 16, 2019

High-rise buildings in Bonifacio Global City, also known as the Central Business District in Taguig City. Manny Palmero

Philippine economy plays catch-up By Julito G. Rada

FTER a blip in the first few months of 2019, the Philippine economy is steering itself back on a stronger growth track.

Economic managers of the Duterte administration and even analysts from the private sector are one in saying the economy is bound to recover in the second half from the sluggish 5.6-percent expansion in the first six months. They see the delay in the approval of the national budget for 2019—which primarily caused growth to dip to a four-year low of 5.5 percent in the second quarter— as a “one-off ” that could be offset by the government’s efforts to accelerate fiscal spending in the remaining months of the year, particularly on infrastructure projects under the unprecedented and ambitious “Build, Build, Build” program. Economic Planning Secretary Ernesto Pernia said in an forum organized by the Economic Journalists Association of the Philippines Aug. 27 that the previous growth target of 6 percent to 7 percent remained doable. “We are hoping to achieve the low end of the target range, which is 6 percent. Meaning, we must average by 6.4 percent in the second half to achieve this,” Pernia told business reporters, editors and columnists. Despite the promising outlook, Pernia said it would require a redoubling of efforts of the government, especially on public spending in infrastructure projects on a “24/7 work mode.” Th e Ph i l i p p i n e S t at i s t i c s Authority said economic growth in the second quarter further slowed to a four-year low of 5.5 percent from 5.6 percent a quarter ago and 6.2 percent a year ago, weighed down by the El Niño dry spell, rising protectionism in advanced economies, delay in the approval of the national budget for 2019, and the ban on construction activities in the run-up to the midterm elections last May. The sluggish and slowerthan-expected expansion for the April-to-June period was the slowest since the 5.1-percent GDP expansion in the first quarter of 2015. It was also the second

successive quarter that economic growth stood below 6 percent. The performance brought the first-half GDP average to just 5.6 percent, below the low end of the target range of 6 percent to 7 percent earlier set by the government for the entire year. President Rodrigo Duterte affixed his signature to the P3.7trillion budget for 2019 in April after months of impasse between the two houses of Congress. As a result, the government operated on a reenacted budget that slowed economic growth in the process. STRONG HOUSEHOLD SPENDING Data provided by Finance Undersecretary Gil Beltran, the DoF’s chief economist, showed that household consumption remained robust, equaling last year’s first-half growth at 5.8 percent as consumer prices have trended down following quick response by the President on the streamlining of food supplies. All other expenditure components declined— government consumption, from 12.6 percent to 7.1 percent; capital formation, from 14.9 percent to -0.1 percent, and exports, from 12.6 percent to 5.0 percent—as trade tensions rattled international value chains and dampened

Economic Planning Secretary Ernesto Pernia

global investment. But what is notable is that “private construction and services also maintained robust growth, providing hints of a quick recovery moving forward,” Beltran said. He said the pickup in private construction from 6.5 percent to 23.1 percent cushioned the decline in public construction.

Source: San Miguel Corp. website

Private construction contributed 1.1 percentage point to the 5 . 5 - p e rc e n t g ro w t h i n t h e first semester, tempering the negative contribution of public construction of minus 0.7 percentage point. “Had the growth in public construction been at most zero, GDP growth could have reached

6 percent,” Beltran said. Services rose from 6.7 percent last year to 7 percent, with the financial sector paving the way, from 7.7 percent to 9.7 percent. But agriculture continued to be the laggard, almost not moving from its 0.7 percent semestral growth. “Nevertheless, the fiscal sector remains strong and can support higher growth. In the first semester, national government revenues rose by 0.4 percent of GDP, boosted mainly by tax revenues,” Beltran said. SHORT-TERM STRATEGIES Pernia cited a number of short-term strategies to ensure a more inclusive economic growth in the next couple of years. These include the full implementation of the Ease of Doing Business and Efficient Government Service Delivery Act of 2018, modernization of gover nment regulator y and other processes and the proper utilization of the Rice Competitiveness Enhancement Fund to enhance the productivity and competitiveness of the rice sector. Pernia said lawmakers must now be aware of the consequences of the delayed approval of the national budget to economic growth. He even urged lawmakers to pass on time the national budget for 2020 to make sure economic growth will be sustained. The Department of Budget and Management has proposed a record P4.1-trillion national budget for 2020.

MONDAY, SEPTEMBER 16, 2019 extrastory2000@gmail.com

STIMULATING THE PH ECONOMY

Tax reforms to reinforce fiscal stability

STRONG revenue base instills fiscal discipline and ensures sustainable economic growth.

Finance Undersecretary Gil Beltran

The Department of Finance is guided by this belief and sees the passage of the remaining packages of the Comprehensive Tax Reform program into law vital to ensure a steady source of revenues for the country’s economic modernization. Finance Undersecretary Gil Beltran, who is also the DOF’s chief economist, stressed need to complete the passage of the remaining packages of the Duterte administration’s comprehensive tax reform program to ensure the equitable sharing of funds for the government’s social and infrastructure programs, while securing fiscal stability long into the future. Beltran expects revenue collections to reach P3.5 trillion, with P187.1 billion coming from tax reforms. These include P153.8 billion from the first CTRP package or the Tax Reform for Acceleration and Inclusion (TRAIN) Law; P15.7 billion from Republic Act No. 11346, which raised excise taxes on tobacco products; and an estimated P20 billion to be collected from Package 2 Plus, which aims to increase excise taxes on alcohol and e-cigarette products. Package 2 Plus was already approved by the House of Representatives on third and final reading on Aug. 20. Expenditures in 2020 are expected to reach P4.2 trillion or 19.8 percent of the gross domestic product, which translates into a deficit target of P677.6 billion, or 3.2 percent of GDP that is well within the norm for deficit spending, Beltran told senators in a Development Budget Coordinating Council meeting late August. The executive branch will continue to be engaged with the legislature in passing the remaining tax reform packages to generate additional revenue streams for government to fund social amelioration programs, he said. ‘A’ INVESTMENT GRADE RATING Beltran said the passage and implementation of the remaining tax reform packages and the rest of the fiscal reform agenda would help bring the country to the “A” rating territory “within the next couple of years.” More importantly, he said completing the reform programs would further secure the country’s fiscal stability and help fulfill the shared goal of a decent and comfortable life for all law-abiding Filipinos. “This means achieving our ultimate goal of bringing down poverty incidence from 21.6 percent in 2015 to only 14 percent by 2022,” Beltran said.

He said the Philippines’ elevation from lower- to upper-middle income country status ahead of schedule next year was proof that the government could accomplish its goal of beating extreme poverty within a generation, “if we stay on course and continue to invest in the right things.” Beltran said for 2022, revenue and disbursement projections were estimated to rise to P4.4 trillion (17.2 percent of GDP) and P5.2 trillion (20.4 percent of GDP), respectively. Given the revenue and disbursement program adopted by the Development Budget Coordinating Council, the deficit target would be maintained at 3.2 percent of GDP from 2019 to 2022 to sustain the government’s investments on infrastructure and human capital development, he added. Beltran said the public sector deficit was projected to grow marginally to about 1.3 percent of the GDP by 2020 owing to the government’s aggressive spending to support the “Build, Build, Build “infrastructure modernization program. A NOTCH HIGHER The government’s fiscal performance, debt management and policy reforms presented before senators were earlier reported by Beltran during a separate briefing held by the DBCC on Aug. 22 before the House of Representatives appropriations committee. Global debt watcher S&P Global Ratings in late April raised a notch higher its long-term sovereign credit rating on the Philippines to “BBB+” from “BBB” with a stable outlook, citing the country’s above-average economic growth, a healthy external position, and sustainable public finances. The upgrade put the Philippines at par with Mexico, Peru, Thailand and Trinidad and Tobago. It was also higher than the “BBB” ratings of Italy, Portugal, Hungary, Panama and Uruguay and put the Philippines’ rating a notch away from the most-coveted “A” rating category. S&P said the rating upgrade reflected the Philippines’ strong economic growth trajectory, which is expected to continue to drive constructive development outcomes and underpin broader credit metrics over the medium term. S&P further said the government has so far achieved partial success with its “Comprehensive Tax Reform Program.” The program aims to ensure that finances remain sustainable while addressing the nation’s pressing infrastructure needs and chronic underinvestment. Julito G. Rada

STIMULATING THE PH ECONOMY

MONDAY, SEPTEMBER 16, 2019 extrastory2000@gmail.com

External and domestic risks may stifle growth

Bangko Sentral ng Pilipinas Governor Benjamin Diokno

Philippine exports vulnerable to US-China trade hostilities

THE country exports remain one of the economy’s weakest links despite a modest growth. ING Bank Manila senior economist Nicholas Antonio Mapa sees them as vulnerable to the ongoing trade war between the US and China. Philippine Statistics Authority data as of June 2019 showed the countrys balance of trade-in-goods deficit shrank to $2.47 billion from a gap of $3.55 billion a year ago, as imports declined 10.4 percent while exports posted a marginal increase of 1.5 percent. This resulted in the trade deficit of $19.004 billion in the first half, lower than the $19.235-billion deficit in the same period last year. First Metro Investment Corp. president Rabboni Francis Arjonilo said due to the global economic slowdown amid the US-China trade war, exports were expected to grow weaker at 2.6 percent. But imports will continue to outpace exports and are seen to sustain a double-digit growth of 10 to 14 percent due to the strong government spending on infra and private investments. Data showed total external trade in goods in June 2019 amounted to $14.49 billion, reflecting a decrease of 5.8 percent from the $15.39 billion external trade in the same month of the previous year. Julito G. Rada

HE Philippine economy is still navigating choppy seas on its way to calmer waters.

An array of external and domestic risks could stifle growth going forward and derail the government’s ambition for the economy to continue outperforming most of its peers in the region. From the external front, these are the easing of global growth, lingering trade tensions between the world’s two leading economic powerhouses US and China, volatility in global oil prices and disruptive technologies that could displace labor force. From the domestic front, risks could emanate from natural hazards, power disruptions and energy sector challenges, delays in infrastructure projects, absorptive capacity of local government units to carry out devolved functions, and policy uncertainties. “We remain vigilant and wellpositioned against these downside risks to growth,” Economic Planning Secretary Ernesto Pernia assured. The slower-than- expec ted economic expansion in the first half compelled the International Monetary Fund to lower its growth forecast for the Philippines this year and in 2020. Yongzheng Yang, IMF’s resident representative to the Philippines, said the multilateral lending agency slashed its GDP growth forecasts to 6 percent this year and to 6.3 percent for next year. The latest projections are lower than the previous forecasts of 6.5

percent for 2019 and 6.6 percent for 2020. Yang said the downward revision reflected weaker-than-expected external demand and weaker-thanexpected public investments, partly due to the delayed approval of the national budget. But Yang said despite the revision, the forecast was still among the highest in the region, and that growth would continue to be driven by strong domestic demand. Meanwhile, global debt w a t c h e r M o o d y ’s I n v e s t o r s Service for the second time this year trimmed its growth forecast for the Philippines in 2019 to 5.8 percent from the previous estimate of 6 percent, taking into account the lackluster expansion in the first half. Moody’s said in a report late August that the budget delay exacerbated external weakness and although domestic demand was seen to recover, it would not be enough to propel growth to at least 6 percent. Moody’s already reduced the GDP forecast for the Philippines this year to 6 percent from 6.2 percent because of the 5.6-percent growth in the first quarter, due to the budget delay. BANGKO SENTRAL UNFAZED Bangko Sentral ng Pilipinas Governor Benjamin Diokno shrugged off the threats posed by both external and domestic

factors, saying he remained optimistic about the prospects of the Philippine economy. “... We are well-positioned to deal with these challenges. We now have an encouraging mix of a manageable inflation environment alongside steady economic growth, which affords policymakers sufficient space to respond appropriately to evolving domestic and g l o b a l c o n d i t i o n s ,” D i o k n o said during the EJAP economic forum. Overall liquidity and credit conditions remain suppor tive of the countr y ’s g r o w t h r e q u i r e m e n t s . “ We likewise continue to have a fiscal target that both delivers effective government spending while remaining prudent in meeting debt obligations,” he said. He said the sound and stable banking system was aided by strong prudential regulation and supervision. The continued lending activities of Philippine banks indicate their effectiveness in facilitating a smooth flow of funds in the economy, boosting economic growth. Banks remain sufficiently capitalized, while their past due ratios have consistently declined over the years. This e n h a n ce s t h e i r c a p a c i t y to manage risks and at the same time increase profitability. “We expec t these improvements to continue given the positive outlook on the macroeconomy,” Diokno said. Julito G. Rada

MONDAY, SEPTEMBER 16, 2019 extrastory2000@gmail.com

STIMULATING THE PH ECONOMY

‘New thinking’ key to lifting agriculture By Othel V. Campos

EWLY-APPOINTED Agriculture Secretary William Dar believes agriculture requires “new thinking” to bring the farming sector to the next level.

Agriculture Secretary William Dar

Dar crafted a policy paper recommending measures on how to maximize farm resources to bring the local agriculture to a new level of modernization and industrialization. Dubbed as the “New Thinking”, the policy paper aims to double the income of farmers and fisherfolk. “Furthermore, the proposed policies aim to collectively empower farmers and fisherfolk and the private sector to increase agricultural productivity and profitability, taking into account sustainability and resilience,” Dar said. “The mission and vision should guide the actors and stakeholders in the agriculture sector to ensure the achievement of the objective of making farmers and fisherfolk prosperous, with the eight paradigms below putting in place the required policies, programs, projects and funding,” Dar said. To bring Philippine agriculture to the next level, the Agriculture Department identified eight paradigms to support this bid. They include modernization, industrialization, export promotion, consolidation of small- and medium-sized farms, infrastructure development, higher budget and investment in agriculture, legislative support and roadmap development. An assessment by the depar tment shows that the country’s farming and fisheries sector is in a “critical” stage as it has erratically grown in the past five years.

C h a l l e n g e s f a ce d by t h e f ar ming se c tor range f rom low farm productivity to lack o f l a b o r, u n a f fo rd a b l e a n d inaccessible credit, limited use of technology, limited farmland diversification, undeveloped agri-manufacturing and export, severe deforestation/land degradation, aging farmers and fisherfolk and climate change. Records show that in 2014, the sector grew by 1.83 percent, slid 0.11 percent in 2015 and bounced back by 1.41 percent in 2016. In 2017, it grew 3.95 percent but posted a dismal 0.56-percent growth in 2018 which was nowhere near the government’s growth target of 4 percent. The OECD in a 2017 review of Philippine agricultural policies recommended several policies to enhance the longterm productivity growth of the agricultural sector. These include a policy package to improve food security by enhancing diversification of production, consumption and income and using safety net measures such as conditional cash transfers and food vouchers. It advised the country to refocus agrarian land policies from land distribution to securing property rights through land governance reforms. Other recommendations include focusing the budgetary support on long-term structural reform, re-orienting agricultural knowledge systems, adopting

‘The proposed policies aim to collectively empower farmers and fisherfolk and the private sector to increase agricultural productivity and profitability, taking into account sustainability and resilience.’ a holistic approach to risk management with a policy focus on catastrophic risks, assessing insurance and cash-transfer schemes that can encourage adaptive decisions and improving the sector’s capacity to adapt to climate change. While there are laws and proposed measures that push for the modernization of domestic a gr i c u l t u re, o n e re ce nt l ypassed law which liberalizes rice importation is seen as a gamechanger. As far as the Agriculture D epar tment is concer ned, the law which abolished the quantitative restriction on rice imports and established the Rice Competitiveness Enhancement Fund provides an opportunity to lift rural incomes by enhancing farm productivity and helping farmers produce high-value crops.

STIMULATING THE PH ECONOMY

MONDAY, SEPTEMBER 16, 2019 extrastory2000@gmail.com

Foreign investors remain bullish on PH By Othel V. Campos

ORE foreign businessmen are coming to the Philippines despite the lingering trade tension between the world’s two largest economies—the US and China. The Board of I nvestments reported that it approved P609 billion worth of new investment commitments in the first eight months of 2019, up by 126 percent from just P269.3 billion a year ago. Data from the BOI show that domestic investments climbed 61.2 percent in the eight-month period to P404.5 billion from P251 billion in the same period last year while foreign investment pledges surged more than 10 times to P204.5 billion from P18.3 billion. Singapore was the top source of foreign investment commitments with P170 billion followed by the Netherlands with P9.2 billion, Thailand with P8.6 billion, Japan with P6 billion and the United States with P2.4 billion. Meanwhile, merchandise exports grew for the fourth straight month, narrowing the trade deficit as imports continued to move in the negative territory. The Philippine Statistics Authority said exports grew 3.5 percent in July on the back of higher revenues from agro-based products, forest products and electronics. The Philippines registered the thirdhighest exports growth among selected Asian economies, following Thailand and Vietnam. “Philippine exports remained resilient during the second quarter of 2019 despite the continuing external challenges such trade

tensions between the US and China, the bleak outlook in Europe, and the uncertainty of the future of Brexit,” said Economic Planning Secretary Ernesto Pernia. US-CHINA TRADE WAR The public and the private sectors have different perceptions about the ongoing trade spat between the world’s two biggest economies. The Trade Department sees the squabble as an opportunity to gain more investors as US companies exit China and creating an opening for the Philippines to push for a bilateral free trade agreement with the US. “We look forward to a more calm trading relationship between the US and China. Hopefully, they come up with a deal that will provide certainty, that’s the bottom line there, and that it doesn’t worsen. The bigger picture here is the economic slowdown of the two giant trading countries. And because this is a global value chain, every country, nation, state will be affected eventually. But we can say at least in the Philippines, the impact to us, has in fact, not been that severe, for now,” said Trade Secretary Ramon Lopez. The department believes that at the current degree of the USChina trade war, the repercussion is marginal and one reason is that the Philippines is not an exportoriented economy compared to

most of its peers in Southeast Asia. If the trade war escalates and persists in the medium to longterm, this could pose adverse effects on the Philippine economy such as a slowdown in GDP growth, an increase in unemployment and inflation and moderation in trade growth and investment growth. “We see growing export to both the US and then to the China market from the Philippines. That means the products we export were not subjected to the tariffs being applied by the two countries.

to the trade program. The program covers 5,057 products or tariff lines or roughly 47.7 percent of the 10,600 total US tariff lines. “ When it comes to China, investments have been pouring in. China’s investments have expanded amid the US-China trade friction. Chinese foreign trade investments climbed to $198.7 million from $28.8 million in 2017. BOI-approved investments from Chinese firms went up to P48.7 billion from P576 million in 2017. We are now in a better place in terms of exports.

‘We look forward to a more calm trading relationship between the US and China. Hopefully they come up with a deal that will provide certainty.‘ And you know, China has opened a market for Philippine products so we are seeing growth. On record, I think, we are growing on an average of 10 percent, year-on-year, on our export to China. We are not adversely affected,” Lopez said. He said that Philippine exports to the US are also growing by about 9 percent as the country “still enjoys the GSP [Generalized System of Preferences] privilege”. “We can say that in both countries involved in the trade war, we have an independent relationship. We export to China and we export to the US. So far the markets have been open,” said Lopez. The Philippines will continue to benefit from the US GSP program until 2021, after US President Donald Trump approved in March 2018 the Philippines’ subscription

From a level of $83 million in 2015, exports shot up to $476 million in 2018. If this is not clearly growth, I’m not sure how to call it,” Lopez said. Many companies from China, Hong Kong and Taiwan are coming to the Philippines. Foreign direct investments from these countries reached $95 million in the first five months of 2019. BREXIT Lopez said the United Kingdom’s decision to leave the European Union created some confusion in terms of how trading with the UK would look like post-Brexit. “On the part of the Philippines, our top priority has always been to ensure continuity and the least possible disruption in our trade with the UK. There is still a lot of uncertainty on the final scenario under which the UK will leave the

EU. While talks are still ongoing, the most ideal would be for the UK to leave EU in the most orderly fashion, preferably with a clearly defined deal in place to minimize disruptions,” he said. “The impact of Brexit to the Philippines would largely depend on the exit deal that the UK will be able to negotiate with the EU. Furthermore, the possible implications of Brexit are, to some extent, defined by our current economic relations with the EU under the GSP+,” he said. Brexit may have an impact on certain sectors that currently benefit from duty-free access under GSP+. Among the EU member states, the UK ranked as the fourth biggest market for Philippine exports in 2018 and the third top EU destination for Philippine GSP exports in 2018. Given this, the Philippines secured the UK’s commitment to establish its own GSP scheme which will largely mirror the current EU GSP scheme. This means that after Brexit, Philippine exporters will continue to enjoy the same level of preferences that they currently enjoy in the UK market under the EU GSP+ scheme. To e a s e t h e p o s t - B r e x i t transition, the UK scheme will also adopt the same rules of origin and documentary requirements to claim the GSP preference. “We are in constant dialog with EU counterparts on our continued enjoyment of GSP+ preferences. As a GSP+ beneficiary, the country committed to engage the EU, through a binding undertaking, in a continuous dialog regarding the country’s implementation of 27 international conventions,” Lopez said.

MONDAY, SEPTEMBER 16, 2019 extrastory2000@gmail.com

STIMULATING THE PH ECONOMY

POGOs pullout seen to shake real estate By Othel V. Campos

BUSINESS group is worried that a sudden exit of Chinese-owned Philippine online gaming operators may shake the local property sector.

The Philippine Chamber of Commerce and Industry said a mass exodus of POGOs would not only depress the growth of the real estate sector but also strip the Philippine economy of additional revenues. “The amount of money leaving China is worth 100 billion renminbi a day. This is about P700 billion in Philippine money. This money goes to Southeast Asian countries were POGO is a legal activity. The Philippines could easily account by as much as P7 billion from among ten countries in Southeast Asia hosting POGO operations,” said PCCI chairman emeritus and former Philippine Stock Exchange president Francis Chua. POGO operators and Chinese businessmen emerged as the single biggest lessee/buyer of space especially in the Bay Area where entertainment resorts and casinos have risen. Office supply data from KMC Savills show that Chinese POGO operators took up 76,000 square meters of office space or half of the new supply in the Bay Area last year. However, the take-up was slower compared to 166,000 sqm in 2017. Rental rates for the Bay Area, where m os t P O G O co m p a n i e s o p e rate, continued to outperform other property submarkets with another double-digit growth of 11.6 percent to P833.7 per square meter a month this year. Expectations for the sustained real estate growth in the Bay Area are now uncertain after China made known its stance against POGO operators. “In the Philippines, POGO is legal, but in China it is not. The only thing the Chinese

Resorts World Manila lives up to its claim as IR with most hotels

As it celebrates its 10th anniversary, the pioneering IR continues to boost Philippine economy with more hospitality brands

By Aileen Martin

n 2009, the country saw the birth of the first integrated resort (IR) in the country. Resorts World Manila (RWM) introduced a thriving concept that was previously exclusive to the Philippines’ neighboring countries in the Asian region like Macau and Singapore. During the same time, the country braced for an anticipated increase in tourism numbers brought about by efforts made by the government that ushered in the Philippine Tourism Decade. Fast forward to 10 years and the country’s gross gaming revenue from various IR developments is projected to reach US$4.1 billion according to PAGCOR Chairman Andrea Domingo. With such staggering

Belmont Hotel Manila’s Deluxe Twin Room

economic growth in the IR industry that RWM pioneered, more investors remain adamant in following suit. In terms of tourism, the IR industry has attracted more tourists with its vibrant array of world-class options. RWM likewise gears up to buttress the influx by ensuring full operations of seven prominent hotel brands within its Newport City property. Soon, another acclaimed hotel brand in Hotel Okura Manila will open its doors

Holiday Inn Express Manila Newport City Guest Room

to guests from all over as RWM continues to make its mark as the IR with the most number of hotels in the country. Offering a diverse mix of accommodation brands that are all within the proximity of the IR’s Garden and Grand wings, RWM continues to thrill guests with staycation choices that grant them convenient access to topnotch entertainment and lifestyle alternatives with a Filipino touch. Established international

government can do is to clamp down on those engaged in this business. Those who won’t stop [operating] will be put in a blacklist. If they go back to China, they will be barred from leaving their country. Right now, real estate is booming because of these POGO people. The good side is that, when they leave, our real estate will be reasonably priced again. Filipinos can afford to buy property spaces once prices stabilize. The bad [thing] is that growth of the real estate sector will slow down. Growth may still be there but not as fast as right now,” Chua said. There are about 200 POGOs in the Philippines employing close to 200,000 people, most of them Chinese. About 61 of the POGO entities are operating at Philippine Economic Zone Authorityaccredited buildings. The PCCI believes that aside from the real estate sector, the tourism sector will also feel the pressure as restaurants and malls frequented by the Chinese nationals will miss out on opportunities. “Anything that is related will be affected. What I’m saying is that a certain percentage of our economy which could be minimal will be hit due to this. As far as our service export is concerned, the major money comes OFWs. Then, the second used to be contact centers or the BPO industry. But with the rising popularity of POGOs, it seems possible that BPO and POGO could share in the second slot,” Chua said. Before POGO turned up in the Philippines, the BPO sector had dominated the office space take-up, accounting for about 70 percent of the new stock.

brands Maxims Hotel, Marriott Hotel Manila and Sheraton Manila Hotel, and Hilton Manila cater RWM’s more upscale and discerning guests, while Megaworld brands Savoy Hotel Manila and Belmont Hotel Manila welcome visitors who are more into business and pleasure. The country’s first Holiday Inn Express, which is also the largest in Southeast Asia, likewise brings its standard of excellence to RWM. The IR meticulously reviews its roster of hotel brands that set up shop at its Newport City property to give its guests of varied tastes perfect accommodations according to their needs. During RWM’s early years when just three hotels were in operation, the IR immediately won multiple awards from the prestigious Hospitality Asia Platinum Awards (HAPA) in 2011 for its all-suite signature Maxims Hotel which was cited as the Overall Best in Asia for Service Excellence, Best in the Philippines for Service Excellence, Best 5 in Asia for Signature Serviced Residences, and Best 10 in Asia for Concierge. Belmont Hotel Manila likewise made waves when it opened in 2015, when it was recognized as the Airport Hotel of the Year Award in 2018 and as one of the brands chosen for The World Luxury Hotel Awards this year. As more prospects for meetings, incentives, conventions, and events (MICE) opportunities are coming to the country, RWM’s partner hotels likewise built their respective facilities to take advantage of the inflow with Marriott Hotel Manila boasting a flexible events ballroom complete with a full-

service business center, and the largest ballroom in the country, the Marriott Grand Ballroom which opened in June 2015. Savoy Hotel Manila also features the Squares, or 24-hour coworking spaces for guests who are on-the-go, while Holiday Inn Express Manila houses a 215-square meter meeting space. Likewise, newly-opened Hilton Manila welcomes corporate travelers with six flexible meetings and events spaces, plus an executive floor and lounge, while Sheraton Manila Hotel houses a ballroom, seven meeting rooms, studio, and the ColLab’s Loft co-working spaces as well as Private Labs. After the all-suite Hotel Okura Manila opens soon at the RWM Grand Wing, the IR’s hospitality portfolio will appreciate to an approximately 3,600 keys. Even then, further developments will continue within the property as the country’s tourism industry and economic prospects remain bullish, including the first Ritz Carlton Hotel in the country which operates a chain of upmarket hotels in over 30 countries and territories. Making its mark as the pioneering integrated resort in the country, RWM continues to come up with more worldclass offerings and innovative campaigns for its guests including the Grand Staycation Package which lets guests experience select hotel accommodations while enjoying the many thrills in RWM. Visit www.rwmanila.com or download the RWM Mobile App to avail of the exclusive promo.

STIMULATING THE PH ECONOMY

MONDAY, SEPTEMBER 16, 2019 extrastory2000@gmail.com

Policy reforms expected to cut electricity rates By Alena Mae S. Flores

HE implementation of appropriate policies and reforms will lead to a transparent and competitive energy market and bring down electricity rates, according to the Energy Department.

Stable rice supply softens inflation rate THE government has finally tamed the high inflation rate, which last year fanned speculation of a rice shortage and threatened to derail the economic growth track. The Philippine Statistics Authority reported that inflation in August dropped to a 35-month low of 1.7 percent from 2.4 percent in July, a development that could prompt monetary authorities to further reduce interest rate in a meeting later this month. A further decline in the price of rice and non-alcoholic beverages and base effect caused inflation to fall sharply in August. The inflation rate in August last year stood at 6.4 percent before peaking to 6.7 percent in September and October in the same year. The much-lower inflation rate

last month is a clear signal for the Bangko Sentral ng Pilipinas to reduce interest rates on the funds it lends to private banks, which, in turn, will pass the lower cost of borrowing to consumers and other clients. The reduced cost of borrowings, hopefully, will spur companies to expand, hire more workers and eventually increase economic activities. BSP Governor Benjamin Diokno n o ted t h at “am pl e do m es tic food supply conditions along with lower global oil prices have contributed to a manageable inflation environment.” Surging rice prices resulting from inadequate supply had caused the inflation to spiral in the latter part of 2018. The sharp increase in the price of the basic commodity

prompted lawmakers to pass the Rice Tariffication Law that essentially liberalized imports. The legislative action had an immediate impact on rice prices. Hoarders were forced to unload their stocks and flood the market for fear of losing out to incoming rice shipments. Rice prices eventually stabilized on ample supply. Rice and food inflation carry much weight on the consumer price index. As a result, lower prices of food items, which account for close to 32 percent of the CPI basket, have softened the inflation rate. Authorities, especially the Department of Agriculture, must ensure the steady supply of food items like rice and vegetables to prevent inflation from behaving erratically again.

“It is true that the Philippines continues to have one of the highest electricity tariffs in the ASEAN region. High electricity bills are a constant complaint we all often hear. For investments, this makes us less attractive as a destination for doing business. It means higher overheads for the business. For Filipinos, it means waiting for everyone to come home before switching on the TV. Of course, this does not paint a complete picture,” Energy Secretary Alfonso Cusi said. Cusi said that unlike some of its ASEAN neighbors, Filipinos pay the true cost of electricity because prices are not kept artificially low by “unsustainable subsidies.” Cusi said that if one takes a closer look, the annual inflation of electricity prices in the five-year period from 2014 to 2018 is actually lower than the average annual inflation rate. “So real electricity prices are in fact on its way down... We have a long way to go before our energy prices are as competitive as our neighbors but I believe that by operating a transparent and competitive energy market, we will get there,” the energy chief said. He cited the case of Manila Electric Co. whose residential customers have experienced a 4-percent increase in their monthly bills against a 7-percent rise in the consumer price index since 2016, despite the fuel price increases and local currency depreciation. Cusi said the Energy Department put in place policies and reforms that will have an impact on electricity prices and consumer empowerment. “Over the last three years, we introduced the mandated competitive selection process [CSPs] for all PSAs [power supply agreements] as well as turned over the operations of our spot market, the WESM [Wholesale Electricity Spot Market] to an independent market operator,” he said. “We also introduced the voluntary RCOA [retail competition and open access] for customers with monthly peak average demand of at least 750 kilowatts. Again, this seeks to empower the consumer by allowing them to choose who they buy their energy from—eliminating captive customers for distribution units to pass-on generation charges,” he said.

50 X 2025 BY 2025, WE COMMIT TO REDUCE OUR USE OF WATER IN ALL PROCESSES ACROSS THE SAN MIGUEL GROUP BY 50%.

While our water management efficiency level is among the highest in the Philippines, and while water conservation and protection has always been a key component of our operations,

WE’RE CHALLENGING OURSELVES TO DO MORE.

ELIMINATE WASTAGE OF WATER ACROSS OUR OPERATIONS.

We will adopt new and stricter measures to improve the efficiency of our water use, as well as utilize water-saving technologies and implement conservation programs.

REUSE AND RECYCLE MORE WATER.

We will optimize all our wastewater treatment facilities to further lessen our water footprint. We commit to make greater use of treated greywater for non-essential purposes.

REDUCE OUR USE OF GROUND AND SURFACE WATER AND PROTECT VITAL WATER SOURCES. HARVEST RAINWATER.

We will continue to lessen our use of ground and surface water, protect these water sources, and empower our communities to do the same.

We will harvest rainwater and runoff water from creeks and rivers – collecting, filtering, and storing it for irrigation and for various other purposes in our facilities. We hope that others will follow our example.

WE ARE EQUALLY COMMITTED TO PROVIDING WATER-CHALLENGED COMMUNITIES NOT JUST WITH ACCESS TO SAFE, POTABLE WATER, BUT ALSO THE ABILITY TO BE SELF-SUSTAINING WHEN IT COMES TO WATER MANAGEMENT.

WHY DO WE CARE?

Because it’s everyone’s water.

www.sanmiguel.com.ph/ www.facebook.com/smcbetterworld

STIMULATING THE PH ECONOMY

Ray S. Eñano, Editor Roderick T. dela Cruz, Assistant Editor business@manilastandard.net extrastory2000@gmail.com MONDAY, SEPTEMBER 16, 2019

Traffic congestion stalls capital region By Darwin G. Amojelar

RAFFIC congestion in Metro Manila is costing billions of pesos a day in terms of man-hours and economic opportunities. The daily cost is expected to increase if government sits idly and offers no solutions. The administration of President Rodrigo Duterte vowed to improve the traffic situation in Metro Manila with several big infrastructure projects lined up under its “Golden Age of Infrastructure.”

“I don’t know the exact number of percent [of complete projects], but most of the projects are in advanced stages already. We are halfway through,”Secretary Mark Villar of the Department of Public Works and Highways said. “We will complete all the projects under the Build, Build, Build,” he added. The government plans to spend P8 trillion to P9 trillion, or roughly $160 billion to $180 billion until 2022 for its boldest infrastructure development program, called “Build, Build, Build”. “It’s all systems go for Build, Build, Build program,” he said. EDSA DECONGESTION A PRIORITY Villar assured Filipino motorists about major improvements in the traffic situation in Metro Manila later this year. “We’ll continue next year up to the point

that we finish the project. You can expect definite by the end of President Duterte’s term, there would be an improvement in traffic especially in Metro Manila,” he said. Villar noted that the completion of four key infrastructure projects in Metro Manila would remove about 300,000 vehicles from Edsa. “We need to take out 250,000 to 300,00 cars from Edsa daily in order to revert it back to an acceptable level of traffic,” he said. About 380,000 vehicles use Edsa, the biggest thoroughfare in Metro Manila, daily. “The Skyway, once it’s completed, will reduce the traffic count by 100,000. When we finish the Connector Road, that is likely to reduce at least 50,000. When we finish C6, we will reduce another minimum of 50,000. When we build the Sta. Monica-Lawton Bridge, that will reduce another 50,000,” Villar said.

The Metro Manila Skyway Stage 3 Project is an 18.68-km elevated expressway from Buendia, Makati City to the North Luzon Expressway in Balintawak, Quezon City. The NLEx-SLEx Connector Road is an 8-km elevated expressway, extending the NLEx southward from the end of Segment 10 in C-3 Road, Caloocan to PUP Sta. Mesa, and connecting it to the Skyway Stage 3. Meanwhile, the Southeast Metro Manila Expressway (C6) Project is a proposed 32.6-km toll road that will run from Skyway/FTI in Taguig City to Batasan Complex in Quezon City. “When all these are finished, we would be able to bring back EDSA to its former state which is acceptable traffic. Rest assured this dream of Edsa is not a dream. It’s come from a point of inevitability. We will decongest EDSA,” Villar said.

MONDAY, SEPTEMBER 16, 2019 extrastory2000@gmail.com

STIMULATING THE PH ECONOMY

Free internet to bridge digital divide By Darwin G. Amojelar

S THE population grows, the digital gulf widens.

Faced with the challenge, the Department of Information and Communications Technology plans to accelerate the rollout of free internet access nationwide to bridge the rapid digital divide. In line with the government’s thrust of providing internet access for all, the Pipol Konek Free Wi-Fi Internet Access in Public Places Project was geared

toward the acceleration of enhancing internet accessibility and connectivity and hastening economic, social and educational opportunities nationwide. To date, the Pipol Konek has provided free internet access to about 2.5 million unique devices/users through the establishment of 2,565 live sites covering 17 regions, 58 provinces and 394 municipalities. “We have a backlog for that [free Wi-Fi in hospitals]. We will be doing this in sequence. Because if we go back to the ultimate rule which is the constitution, we want to secure and protect the right, liberty and property,” said DICT Secretary Gregorio Honasan. The DICT as of 30 June had 53 integrated free Wi-Fi Internet sites in public hospitals

DICT Secretary Gregorio Honasan

Rapid economic expansion taking its toll on water and electric utilities T HE robust economic growth of the P h i l i p p i n e s i s t a k i n g i t s to l l o n i t s utilities. A rising population and increased economic activities, along with the El Niño phenomenon, have raised the demand for water and electricity, but these should not serve as an excuse for the shortage and tight supply being experienced by consumers today. Government regulators must have foreseen the situation where demand will soon outstrip supply given the 7 percent to 8-percent economic growth targets laid down by the state’s economic planners over the medium- and long-term periods. They should have dispatched the perceived shortages by approving new water and power projects with a sense of urgency. The water supply shortage in Metro Manila, for

one, could have been averted had authorities cleared private sector proposals to develop new sources of raw water much earlier. The National Water Resources Board, thus, reduced the allocation to water distributors to 40 cubic meters per second from 46 cms from June 19 to 21 amid the fast reduction in the level of Angat Dam—the main source of water in Metro Manila. National Grid Corporation of the Philippines, meanwhile, has placed the Luzon grid on red alert on several occasions due to a shortage of power generation capacity. Luzon’s power supply is generally tight during the dry months when demand is high and the hydropower plants are forced to operate below capacity due to the low water level of the dams. The power shortage problem, or the

prevailing thin reserves, however, stemmed partly from red tape or overzealous local government units. San Miguel Corp. president Ramon Ang, whose company is one of the major power generators in the Philippines, noted that reserves were thin because no new plants were built in the past three years. Power developers, according to him, faced numerous challenges such as the delayed issuance of environment compliance certificate and other permits. He warned that the shortage in electricity supply was worsening and that the countr y “might have some problems soon.” The demand for water and electricity, indeed, will become greater in the immediate future when the economy expands more and the population rises further.

in the country. “We will first connect everybody to each other—government to governments, domestic to global, government to business, government to the citizens and everybody to each other. And we will do this in a faster, cheaper if not in a free manner and in a more secure manner,” Honasan added. The government also rolled out the implementation of the National Broadband Plan in response to the clamor for faster internet speed and affordability throughout the country. The NBP to date has successfully tested and surveyed 100 percent of the dark fiber in Mindanao, 90 percent in Visayas and more than 60 percent in Luzon. The NBP has also started the construction of the cable landing and the repeater stations, while the 240-km route will be done by this month at the earliest. The two terabyte capacity will be harnessed through the operations of the Cable Landing Stations. In accelerating the establishment and rehabilitation of communications tower in the Philippines, the government has signed a total of 21 memorandum of understandings with so-called Common Tower Providers. “Common tower policy will be driven by the overriding objective. The tower is not operating in a vacuum so the tower policy is an enabler, that’s the means and what’s the end –connectivity,” Honasan said. “Our goal is to connect the government to other governments, domestic and global; government to business, encourage foreign investments; and government to citizens and everybody to each other,” he added. The Philippines just has 16,300 towers serving around 130 million combined subscribers of the existing telcos, resulting in the country having one of the lowest tower density in Asia. The government estimated that building a tower would cost an average of roughly $100,000 each, and require $50 billion to roll out 50,000 towers nationwide.

BDO FOUNDATION GIVES BACK TO KEY SECTORS OF PH SOCIETY THROUGH FINANCIAL EDUCATION IT HAS been widely said that education is the greatest gift that can be given to one’s self or to others. Thus, imparting knowledge, skills, and virtues is considered a noble and caring act because it leads to the growth of individuals and communities. The same holds true for teaching financial management. Learning financial management, like any other basic skill or knowledge, primarily begins at home. Parents (or older relatives and mentors) are expected to sow in their children the value of proper money management. And for the fruits to grow, children need to practice these financial skills and make them a habit, a lifestyle until adulthood and old age. BDO Foundation, the corporate social responsibility arm of the country’s largest bank, believes that Filipinos are eager and ready to learn about proper financial management. They just need to be given the right education, training, motivation, and encouragement. That’s why BDO Foundation is presently providing financial education to public school teachers and students, overseas Filipinos (OFs), and farmers, among other sectors. Caring for Those Caring for Us As parents have to spend time working, they tend to delegate all other aspects of their children’s education to teachers. In the Philippines, majority of basic education is conducted in some 47,000 public elementary and high schools spread throughout the country. For school year 2019-2020, around 900,000 public school teachers are shaping the minds of around 24 million students. When combined, this forms around 20% of the country’s population, which is expected to hit 109 million by year’s end, based on government estimates. Given the public school sector’s size in population and responsibility, it needs utmost care for it to continue nurturing future generations of Filipinos. BDO Foundation has chosen to heed this call of financial education by partnering with the Department of Education (DepEd) and the Bangko Sentral ng Pilipinas (BSP). Under the tripartite partnership, the program is expected to contribute to DepEd’s efforts to strengthen the financial literacy component of its K-12 curriculum and to train its teachers and non-teaching staff on skills related to personal financial management. It will support Bangko Sentral’s programs under its National Strategy for Financial Inclusion, specifically the financial education and consumer protection pillar. It will also help push BDO Foundation’s thrust of promoting financial inclusion among many sectors of society. To achieve these goals, the partners

have developed education materials consisting of short videos and lesson plans or discussion guides which are expected to serve as tools for teaching and learning. The learning materials, which were issued in accordance with DepEd Memo No. 32, Series of 2019, are available on the department’s online learning portal for teachers. To complement the effort for teachers, lessons on proper financial skills are taught to public school students through an age-appropriate curriculum. This is done through classroom lessons on basic financial management, usually related to saving and spending wisely. The lessons are incorporated into selected subjects under the K-12 curriculum. Besides teachers, BDO Foundation plants seeds of financial know-how to farmers— the people who feed the nation with their produce. Given that the agricultural sector is the second largest contributor to the country’s labor force at 26% or 10.9 million farmers, BDO Foundation found it important to give back to this sector. BDO Foundation is working with SM Foundation and the National University (NU) in providing lectures and seminars to farmers under SM Foundation’s Kabalikat Sa Kabuhayan program. The program aims not only to pass on basic financial skills like saving and accounting but also to help empower farmers so that they can become farmer-entrepreneurs. Under the program, BDO Foundation develops the financial education modules. Meanwhile, professors from NU’s College of Business and Accountancy and

other local partner institutions conduct training sessions on basic accounting and bookkeeping. BDO Foundation believes that it is better for a farmer to become finance and business savvy so that he can advance from being just a tiller of land to a business owner who can maximize the potential earnings from his farming skills and his property. Being a farmer-entrepreneur is really the ideal situation for all Filipino farmers. BDO Foundation is also engaged in similar financial education programs for OFs, whose remittances significantly contribute to their families and to the economy. Just last year, OFs contributed $32.2 billion in remittances or close to 10% of the country’s gross domestic product, based on BSP data. Most OFWs go abroad to earn for their families, as salaries are generally higher than here at home. Interestingly, the BSP’s Consumer Expectations Survey for the 2nd quarter of 2019 revealed that most families of overseas Filipinos (96.4%) allocate their loved ones’ remittances for food and other household expenses. This is followed by education (68.9%) and medical expenses (49.8%). Savings only comes in at fourth at 33.9%. While it is good for the families to spend on immediate necessities and education, BDO Foundation saw the need for them to improve when it comes to saving for their future. To help OFWs and their families achieve greater financial freedom, BDO Foundation has partnered with the Overseas Workers Welfare Administration (OWWA) in conducting lectures and seminars on financial education.

Humorous, hugot, inspirational BDO Foundation and its partners start the teaching and learning experience through short but insightful and highly engaging educational videos. OFs get to watch the videos during their Pre-Departure Orientation Seminars and again at their Post-Arrival Orientation Seminars. Meanwhile, their families get to watch the videos during support seminars conducted by OWWA. Public school students also watch the videos as part of their classes. The videos are part of the financial literacy learning tools released by the DepEd earlier this year. Financial education lessons, which have been integrated into the K-12 curriculum, are to be taught using the said materials. As for the teachers, a set of videos are shown to them during their own financial education seminars. In fact, a rather funny video entitled “Scamatayan” was made for them. The title is a wordplay on kamatayan. “Scamatayan” shows a public school teacher being haunted by various scams. The scams (text scams, online scams, Ponzi schemes, etc.) are represented as supernatural creatures that torment her.

Behind the video’s humor though, is a serious message: Getting involved in scams and get-rich-quick schemes can quite literally cause the death or kamatayan of your finances. BDO Foundation’s approach is to teach financial skills to those who can pass on the knowledge to a greater number of learners, who later on become teachers and influencers themselves. Eventually, the teachers teach other teachers and students; students teach classmates and friends; and OFWs teach colleagues and their families. It’s a ripple effect that pays forward the knowledge and benefits received, spreading it to families and communities. Plus, they don’t only learn financial skills but also added knowledge on how to spot and avoid scams. Financial education is the preliminary step toward the greater goal of financial inclusion. Economic experts from the BSP to the World Bank agree that any nation’s financial and social development depends on the degree of financial inclusion attained among its people. The greater and more widespread the financial inclusion; the more access people have to banking services, capital, and various financial instruments; the more progressive and developed a society becomes. People are healthier, wealthier, and happier. Ultimately, BDO Foundation’s efforts are not simply about passing on financial skills. Rather, they are ways to create a better future for all: one teacher, one student, one farmer, one soldier, one Filipino at a time.

STIMULATING THE PH ECONOMY

MONDAY, SEPTEMBER 16, 2019 extrastory2000@gmail.com

PH pins hopes on LNG to solve electricity woes By Alena Mae S. Flores

HE Philippines may have found the energy solution to the lack of electricity in the countryside.

Bulacan airport, Makati subway to lift economy TWO major infrastructure projects of late have received the clearance from authorities to proceed. They are among the big “Build, Build, Build” projects lined up under the administration of President Rodrigo Duterte in support of the government’s bid to boost the economy. The $3.5-b subway project in the Makati financial district aims to connect key points in the city and significantly cut the travel time of thousands of workers in the urban center. As proposed, the subway will link the central business district from the corner of Ayala Ave. and Sen. Gil Puyat Ave. to Circuit City, Makati City Hall, University of Makati, Ospital ng Makati, and other new growth areas within the city. Once completed, the subway will serve over 700,000 passengers daily. The subway rail mode clearly addresses the physical limit of Makati’s road network. It will significantly reduce the number of buses, cars, jeepneys and taxicabs plying the narrow streets of Makati, as commuters gravitate toward the

convenience of using the subway rail. The Department of Transportation, meanwhile, is set to award the P735billion New Manila International Airport project in Bulacan province to San Miguel Corp. in the absence of rival bidders. Construction of the ambitious airport in Bulakan town, Bulacan province could start early next year after the groundbreaking ceremony in the fourth quarter this year. The alternative airpor t will decongest air traffic in the Ninoy Aquino International Airport, which has long exceeded its passenger capacity amid the tourism boom. The new airport, more importantly, will decongest Metro Manila as airline passengers take a different route, away from the busy thoroughfares of Metro Manila. The project involves the construction, operation and maintenance of an international airport and building an 8.4-kilometer tollway that will connect the New Manila International Airport to North Luzon Expressway in Marilao, Bulacan.

The introduction of modular or small-scaled liquefied natural gas power projects could answer the countr y ’s quest for total electrification. These modular LNG facilities are proven energy solutions that can be easily built and transported in islands around the country, thus securing power supply while putting the Philippines in the global LNG map. The facilities are also flexible in terms of capacity, which can be scaled up if needed, making it an ideal energy solution especially to far-flung areas. Proponents of LNG projects have answered the call of the Department of Energy to place the country as a Southeast Asia LNG hub in preparation for the eventual depletion of the Malampaya gas field in northwest Palawan, and are looking at modular LNG as possible markets. “With the Malampaya gas field nearing depletion, quick action must be taken to safeguard our energy security. In response to this, the DOE has initiated the legislation and framework to establish the Philippines as a Southeast Asian LNG hub,” Energy Secretary Alfonso Cusi said. “This plan, while ambitious,

has been validated by the overwhelming interest we have received from global investors in a race to establish the first LNG hub in the Philippines. This LNG hub will serve the dual purpose of facilitating future LNG imports while taking advantage of drastic changes in the global LNG trade flows that has put the Philippines at the centre of global LNG trade,” Cusi said. The energy chief added the LNG hub would be a vital lever of economic growth for the Philippines: new jobs for engineering and technical professionals not just in operations but in other related services such as LNG trading. One of the active LNG project proponents, Lopez-led FGen LNG Corp., wants its planned LNG terminal in Batangas to become an LNG hub that could serve and provide gas to smaller islands around the country. “We want to bring LNG to other parts of the PH, not just Luzon. So we’re excited with the idea of small scale LNG. We want to be able to bring it in other parts of Luzon, also other islands Visayas and Mindanao. There should be quite a lot of options to expand in the future but we need to start somewhere, we have to start with bringing it in. The only other

choice is coal, which I think is a bad choice for the Philippines,” First Gen executive vice president and chief commercial officer Jon Russell said at the sidelines of Powertrends 2019 conference. Russell earlier his company was “building a facility which allows smaller LNG vessels to be filled with LNG and they can sail within the islands and deliver LNG to smaller terminals we can establish throughout the islands.” He said smaller power plants with a capacity of 50 MW or less that may want to switch to natural gas from diesel as a choice of fuel can do so. “They can easily switch to LNG which will be more cost effective and be much more environmentally friendly,” Russell said. “The opportunity... it hasn’t been done to my knowledge anywhere in the world in this kind scale. It only really works in an island nation. The Philippines is perfect... but it’s an opportunity to do something that could be really world-class, it would be really something different for the Philippines,” the official said. First Gen is pushing for its own LNG facility to meet the natural supply requirements of its power plants, namely the 1,000-MW Santa Rita, 500-MW San Lorenzo, 420-MW San Gabriel and the 97-MW Avion power plants. FGen LNG plans to initially establish a floating, storage and re-gasification unit (FSRU) at its energy complex in Batangas while its onshore LNG terminal is being constructed.

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STIMULATING THE PH ECONOMY

BPI commits to role in fostering economic growth

GAINST a backdrop of a bullish economic growth, the Bank of the Philippine Islands (BPI) vows to continue doing its part in stimulating the economy to promote greater financial inclusion in the country.

“Everything we do today, we do for the long term. We’re doing it to ensure ourselves of longevity and sustainability. We’re doing it to make sure we remain a partner in the country’s growth,” said BPI President and CEO Cezar P. Consing. To achieve this, the Bank is focusing on four key agenda: digitalization, inclusivity, customer experience, and sustainability.

digital lending and cash management for SMEs; digitalizing E2E processes; adopting a mobile first distribution strategy; adopting the latest digital marketing methodologies to accelerate customer acquisition; and leveraging big data and advanced analytics.

Inclusivity Data from the Bangko Sentral ng Pilipinas (BSP) show that around 35% of Filipinos aged 15 years old and up have bank accounts. Hoping to improve this numDigitalization The Bank is now on the second ber, BPI remains aggressive on reaching phase of its digital transformation more of the unbanked Filipinos as part journey which aims to make banking of its thrust to promote greater financial inclusion in the country. experience “richer and better” In support of this commitfor its growing customer base. ment, BPI is also mak“Digitalization is important ing credit fafor us, because we think it will

“Everything we do today, we do for the long term. We’re doing it to ensure ourselves of longevity and sustainability. We’re doing it to make sure we remain a partner in the country’s growth,” said BPI President and CEO Cezar P. Consing. neurs, BanKo targets to have 300 branches by year-end. “We are very excited about this segment of the market. Our country continues to grow at an impressive pace, investment-led growth is beginning to challenge consumption-led growth for leadership, and self-employed micro-entrepreneurs are becoming central to this growth thesis,” Consing added. Customer experience BPI believes that the customer journey has become more paramount in recent years. “The customer of today, many times, wants instant information. In some cases, they want instant gratification. So we have to focus on the customer experience,” Consing said. To be able to provide a better customer experience, BPI acknowledges that its digitalization

lower our costs to serve. If we lower our cost to serve, it will allow us to touch many more people, and also allow us to provide Filipinos with truly world class product offerings,” Consing said. As part of its digitalization efforts, BPI has been continuously improving its product offerings on mobile and online platforms. “We will lead with mobile. The whole digitalization push vis-à-vis the client, at least, will be a mobile-first strategy,” he added. BPI’s second phase of digitalization journey involves nine focus areas: the orchestration of a digital ecosystem; becoming the partner of choice for digital platforms and ecosystem owners; reshaping payments in the country; pushing financial inclusion;

be a sustainable business. We have to be a sustainable nation,” he said. In line with this, BPI is providing opportunities for individuals, communities, and businesses to achieve financial wellness. The Bank is also offering financing options, such as the BPI Sustainable Energy Finance (SEF) program, that support and promote a greener economy and society,. Offered in partnership with the International Finance Corporation of the World Bank Group, the SEF provides businesses with technical training and funding for efficient energy generation, energy distribution, and energy use. “We have to harness our resources in ways that make it better for the people that follow us. We owe it to the next generation,” Consing said. Internally, BPI also tracks its environmental impact by monitoring its energy and water consumption

cilities more accessible to underserved segments of the population, such as the small and medium enterprises (SMEs). “SMEs are such an important factor in our nation’s growth. Yet as a segment, they have underbanked, and not enough credit goes to the SMEs in the country,” said Consing. With this, BPI laid the groundwork to help SMEs achieve financial security by providing access to easy, convenient, and affordable loan products, such as through its microfinance arm, BPI Direct BanKo. In just three years, BanKo has released over Php 4 billion in loans to almost 60,000 entrepreneurs. To reach more self-employed small entreprejourney also calls for a cultural transformation. The Bank recently rolled out its #OneBPI campaign to encourage its employees to work collaboratively, be more customer centric, and take accountability for results as part of a more digital BPI. “The whole digitalization journey also has to be accompanied with a cultural journey. The cultural journey has to begin with figuring out what are we going to do to make the customer experience truly first-rate,” Consing shared. Sustainability Amidst all the Bank’s digitalization and financial inclusion efforts, Consing said BPI is also committed to working on and promoting sustainability. “We’re getting to the point where we realize that we have to

and carbon emission in its branches, head offices, and business centers. Sticking to its commitment to help protect the environment, the Bank ensures responsible disposal of its paper, plastic and electronic wastes. By focusing on these four key areas, BPI hopes to be instrumental not only in the country’s continuous growth but ultimately, be able contribute to building a better and more financially inclusive Philippines. “As the Bank that currently lends about one of every eight pesos lent in the system, and receives about one of every eight pesos that is deposited into the system—what we choose to do; who we choose to do it with; and, equally important, what we choose not to do can really shape the kind of country we have,” Consing said.

Restrictive investment rules dog economy THE Philippines, despite registering solid economic growth rates year after year, is still the sick man of Southeast Asia when gauged in terms of foreign investments. Decades-old Philippine investment laws are hampering the entry of foreign capital in the country. Economic Planning Secretary Ernesto Pernia has conceded the existing “restrictive” investment environment in the country is driving away foreign investors, who preferred more liberal regimes in the region. The countr y ’s economic chief planner stressed a need to pass into law more key reforms that would attract more investments, such as the Foreign Investment Act, Retail Trade Act and Public Service Act. The Philippines, he says, can expect a triple or even quadruple increase in foreign direct investments if pending investment bills are passed into laws. Senator Grace Poe echoed Pernia’s concerns. For one, she found a need to amend the 81-year-old Public Service Act to remedy the country’s restrictive economic environment, provide more jobs and ensure reasonable rates of services. The chairperson of the Senate committee on public services says the proposed amendments aimed to address the confusion in the definition of public utility and public services, which, for several decades, hampered economic growth. Senator Sherwin Gatchalian agrees. The Philippines remains a relatively unattractive investment destination because Philippine investment laws were less open and generally more inhibitory compared with its neighbors in Southesat Asia. The 1987 Philippine Constitution, meanwhile, restricts the operation of a public utility to companies whose ownership is at least 60-percent Filipinoowned. The equity restrictions apply to public utilities like telecommunications, electricity, water and transportation.

LGUs should heed Duterte’s call to ease permit rules PRESIDENT Rodrigo Duterte’s directive to local government units is clear and unmistakable. They should promote investments in their respective areas and ease the environment of doing business in the Philippines. Mr. Duterte, in his State of the Nation Addressin July, wants to reduce the period of processing business permits to just three days. “I am directing you publicly. All clearances, permits emanating from your office that would also need your approval, must be out, at the very least in three days,” Duterte said in his speech. LGUs should view Mr. Duterte’s directive as marching orders from a superior, who has time and again fired officials for ineptness and perceived corruption. It should serve as a fear factor and a warning on LGUs that they should get their act together, cut the red tape and eliminate a major source of corruption in their level. President Duterte’s order is long overdue. He signed on May 28, 2018 Republic Act 11032, or the Ease of Doing Business and Efficient Delivery of Government Services Act of 2018, that seeks to make the process of establishing and running a business in the country more efficient and easier. The law amended the Anti-Red Tape Act of 2007. Many businessmen and entrepreneurs, however, have complained of the tedious process in getting a simple permit from LGUs. It is no surprise then that the Philippines ranked 124th out the 190 economies in the World Bank’s latest Ease of Doing Business report. The Department of Finance and the Department of the Interior and Local Government recently issued a joint circular providing the guidelines in setting reasonable rates for regulatory fees and other service charges as part of government’s efforts to improve the ease of doing business in the country.

STIMULATING THE PH ECONOMY

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STIMULATING THE PH ECONOMY

Major IPOs excite equity investors By Jenniffer B. Austria

SLEW of initial public offerings in the second half are stirring Philippine Stock Exchange investors and may lure back foreign funds to the local equities market.

Azure Urban Resort Residences houses the first man-made beach in a residential development— complete with fine white sand, undulating waves, and fun water features.

COME HOME TO YOUR OWN PIECE OF PARADISE IN THE CITY LOOKING forward to your next vacation? It’s easy to book a flight to your favorite getaway, but wouldn’t it be better if you get to feel like you’re on vacation every day? At Azure Urban Resort Residences, the beach is just an elevator ride away. This tropicalinspired residential community offers summer all year round with summer fun amenities that let you frolic and soak up some sun. Here’s what it’s like to live in Azure: RELISH BEACH-INSPIRED LIVING Designed by award-winning architectural firm, Broadway Malyan, the nine-tower tropical-inspired community takes inspiration from the most beautiful beaches in the world. Residents can make the most of natural light and ventilation—making them feel like they’re in a secluded paradise far from the city. MAKE YOUR DREAM ISLAND LIFE COME TRUE Tired of the standard swimming pools? Why not spend a day at the beach—right in your own backyard? Azure Urban Resort Residences houses the first man-made beach in a residential development —complete with fine white sand, undulating waves, and fun water features. There’s also a Lap Pool, Infinity Pool, and a Lagoon Pool where you can relax and forget your worries.

RELAX LIKE AN ICON When you’ve made the most of the pools and outdoor amenities, you can level up the tropical experience at The Paris Beach Club, a one-of-a-kindamenity designed by Paris Hilton. You can dine al fresco, schedule a spa appointment, or spend a few hours in the Game Room. BE WORRY-FREE WITH A CONCIERGE YOU CAN COUNT ON From keeping you informed about announcements and managing parcel services, to helping you book a ride to reserving amenities – you can expect firstrate service from highly trained individuals. LIVE IN AN ACCESSIBLE LOCATION Worried about the traffic? Azure Urban Resort Residences is conveniently located along SLEX West Service Road corner D. Soledad Avenue, Bicutan, Parañaque City. You can’t miss it because it’s directly beside SM Bicutan. Know more about Azure Urban Resort Residences when you visit www.century-properties.com/ property-for-sale/azure. If you’re looking for more real estate properties in the Philippines, call (+63) 917 555 5274 or e-mail ask@century-properties.com to learn more about condos for sale and other real еstatе properties by Century Properties.

After a dearth of IPOs in the first half amid the volatile market conditions, investors can now look forward to the IPOs of All Home Corp., Axelum Resources Corp., Cal-Comp Technology (Philippines) Inc. and Metro Pacific Hospital Holdings Inc. (MPHHI). Axelum and All Home secured regulatory approvals to push through with their IPOs while the applications of Cal-Comp and MPHII are now being evaluated by the Securities and Exchange Commission and the PSE. Except for Axelum which is targeting only the domestic investors, All Home, Cal-Comp and MPHHI are allocating up to 70 percent of their offer shares to international investors which, according to analysts, would fuel an increase in foreign fund flows. “We are excited with the back-to-back maiden offerings as we know investors have been waiting for IPOs in the stock market. We are pleased that Axelum and AllHome decided to raise capital through the equities market as both companies are a welcome addition to the roster of listed firms in the Exchange,” said PSE president and chief executive Ramon Monzon. Axelum is one of the leading manufacturers and exporters of coconut water and the company behind Vita Coco, the global leader in coconut water. The company plans to offer up to 1.13 billion shares at P6.81 per share to raise as much as P7.7 billion in proceeds. The offer period will run from Sept. 24 to Sept. 30 while the target listing date is Oct. 7.

The net proceeds from the primary offer will be used to fund the company’s strategic acquisitions, expand its domestic and international distribution networks, install new manufacturing facilities for new products and improve and expand the company’s existing manufacturing facilities. A portion of the proceeds will also be used to retire the company’s loans, reduce payables and for other capital expenditure requirements. “We are very excited about Axelum’s debut in the equities market. We think this is the investment opportunity that investors have long been waiting for,” First Metro Investments Corp. president Rabboni Francis Arjonillo said. “The company is poised to continue its market leadership and is wellpositioned to expand its market base because it is one of the most complete players in the coconut industry given its access to raw material inputs, diversified portfolio of high-quality coconut products, exclusive and companyowned distribution facilities, and strong relationship with well-established customers,” Arjonillo said. AllHome, a home furnishing chain owned by the country’s richest man Manuel Villar, is looking to raise up to P20.7 billion in proceeds. Under the plan, AllHome will sell up to 1.1 billion common shares, representing 3 4 . 5 p e rce nt o f t h e co m p a ny ’s outstanding capital stock, at an offer price of up to P16 apiece. Net proceeds from the IPO will be earmarked to fund store expansion.

Source: All Home Facebook Page

Property sector remains buoyant PROPERT Y developers remain bullish despite the uncertainty of offshore gaming operations in the county. Property firms said that while Philippine offshore gaming operators emerged as one the largest office space customers in the past few years, the demand from traditional offices and business process outsourcing companies remained steady and would readily compensate for any decline in POGO demand. Leechiu Property Consultants chief executive David Leechiu reported in July that POGO would become the largest consumer of office space in Metro Manila before the end of 2019, overtaking the business process outsourcing sector despite the government’s move to tax POGO workers. “But we expect the POGO industry to be the biggest demand driver by yearend due to its faster site selection and the effect of the recent moratorium on PEZA [Philippine Economic Zone Authority] applications in Metro Manila,” Leechiu said. DoubleDragon Properties Corp. chairman Edgar Sia II said he was unfazed by the uncertainty of POGO operations. “While would like that to continue because we get better yields from POGO, under the worst-case scenario, we are covered because have a diversified leasable space,” Sia said. Sia said the company’s office space leased to POGO, currently representing 12 percent of the group’s total leasable space, were fully covered because the lease contract was locked for a period of 12 months. The location of office spaces leased by

offshore gaming operators—the Bay Area in Pasay City—is a prime site which makes it easier for the company to lease out the office space to other locators in the event that offshore gaming operations were banned in the country. Sia said DoubleDragon has diversified leasing portfolio that also includes hotels, community malls and industrial space. Megaworld Corp., the biggest lessor of office space in the Philippines, also said the POGO issue would not affect its office and residential businesses as its exposure to the sector remained manageable. Megaworld said POGO accounted for 12 percent of the group’s total rental space in terms of gross leasable area and contributed about 8 percent of total rental income. Vista Land & Lifescapes Inc., an integrated property firm owned by the Villar family, said it remained bullish on its leasing business despite the crackdown on POGOs. Vista Land president and chief executive Manuel Paolo Villar said the group’s leasing portfolio was comprised mainly of retail malls and commercial center and had very limited exposure to POGOs. “Our leasable spaces are mostly retail malls which limit our POGO exposure and any crackdown to those POGOs will not impact on our overall financial performance,” Villar said. The government is currently tightening its regulations on the POGO sector, which is dominated by Chinese workers. China signaled a crackdown on crossborder gambling which is being linked with money laundering and other criminal activities. Jenniffer B. Austria

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STIMULATING THE PH ECONOMY

Stock market likely to bounce back in Q4 By Jenniffer B. Austria

HE local stock market, which fell below the 8,000-point mark in September, is raring to bounce back in the fourth quarter on the back of strong earnings outlook, according to analysts.

After declining to as low as 7,700 this quarter amid the negative developments overseas such as the lingering concerns over the US-China trade war, the 30-company Philippine Stock Exchange index slowly climbed toward the 8,000-point level this month. Given the recent market drop, some investors were worried that the year-end target of 8,400 to 8,600 level would not be achieved. Despite the recent trend, online brokerage COL Financial Group Inc. research head and chief equity strategist April Lynn Lee-Tan said the company was keeping the 8,600-point year-end target. COL Financial even raised its growth target for earnings of PSEi companies to 13 percent from an initial goal of just 11 percent at the start of the year as banks and property firms were expected to sustain their strong growth in the second half. “The strong sectors for this year would be property because of residential and leasing and banks, which are expected to post a strong recovery this year on higher trading gains as well as healthy loan growth,” Tan said. The road to the 8,600 level, however, is bumpy as the global economic outlook remains sluggish. Tan said the global economy is showing signs of slowing down because of policy uncertainties brought about by the US-China trade war and the United Kingdom’s exit from the European Union. “Although central banks are loosening their monetary policies, it remains uncertain if they will succeed in addressing economic growth concerns,”Tan said. She said that in the domestic front, the Philippines would continue to suffer from an above-average budget deficit and a current account deficit. Tan, however, expects the bull market to emerge soon as the factors that hurt the market’s performance last year such as high inflation and interest rates, peso depreciation and foreign fund

outflows all reversed in favor of the Philippines. COL Financial’s top stock picks for this year include Ayala Land Inc., Megaworld Corp. and Filinvest Land for the property sector and Metrobank and Security Bank for the banking sector. Tan said she also likes D&L Industries Inc, Store Specialists Inc., Max’s Group Inc. and Century Pacific Foods Inc. for the consumer sector and Ayala Corp for the conglomerate sector. Meanwhile, First Metro Investments Corp. expects the PSEi to end the year within the 8,400 to 8,600 range as investor sentiments will be boosted by lower interest rates and the expected earnings growth for listed firms. FMIC vice president and head of research Ma. Cristina Ulang said in a recent mid-year economic briefing that the compounded annual growth rate of earnings of listed companies was expected to increase. “Our confidence arises from the fact that the consensus earnings estimate moving forward is upward and we’ve seen CAGR [compounded annual growth rate] earnings-wise,” Ulang said. Ulang said earnings CAGR of companies averaged 5.9 percent from 2010 to 2015, before rising to 8.1 percent from 2016 to 2018. Ulang expects this figure to even increase to 10.6 percent from 2019 to 2021. FMIC is also counting on the monetary easing policies promised by the Bangko Sentral ng Pilipinas to boost the market. Bangko Sentral ng Pilipinas Governor Benjamin Diokno promised another rate cut before the end of the year. He also committed to cut down the reserve requirement ratio to a single-digit during his term. “We are seeing the PSEi react to the RRR cut and the promise of policy rate cut of more in the second half of this year,” Ulang said. FMIC’s stock picks for the period include BDO

Unibank Inc. and Metropolitan Bank & Trust Co. (Metrobank) for banks; Universal Robina Corp., San Miguel Food and Beverage Inc. and Wilcon Depot Inc. for consumer firms; and Ayala Land Inc., Megaworld Corp. and Robinsons Land Corp. for property. It also likes Megawide Construction Corp. and Eagle Cement Corp. for infrastructure and picked Ayala Corp., JG Summit Holdings Inc., Metro Pacific Investments Corp. and GT Capital Holdings, Inc. for conglomerates. In the

power sector, it prefers Aboitiz Power Corp. and Manila Electric Co. The PSEi gained 6.88 percent in the first eight months of the year to close at 7,979.66 on Aug. 30 while the broader all-share index went up 6.46 percent to 4,809.48. Foreign investors remained net buyers in the eight-month period at P11.6 billion, as total foreign b u y i n g re a c h e d P 6 8 4 . 3 3 b i l l i o n while foreign selling amounted to P672.73 billion.

PARKLINKS: OFFERING A BALANCED AND HEALTHY URBAN LIFESTYLE HEALTHY city living amidst greenery and wide-open spaces? This seems farfetched for many working Filipinos who are used to just two options: living a compact but practical life in the city, or living in the more spacious suburbs but enduring long daily commutes. Developers such as Ayala Land, Inc. (ALI) and Eton Properties Philippines, Inc. (EPPI) are well aware of the city dwellers’ plight, and have focused on creating solutions that provide people with a more balanced and enriched way of life. One such solution is Parklinks, their greenest urban development to date that puts a premium on open space, healthy and active living, connectivity and accessibility. Located within Pasig and Quezon City, the 35-hectare joint venture between ALI and EPPI is master planned to maximize access to parks and open spaces—all of which would be a mere five- minute walk from residences, offices and commercial areas through a well-designed and managed walkway system. “What sets Parklinks apart is that 50% of its 35 hectares are devoted to open spaces,” said Mel Ignacio, ALI Head of Project Development, adding that the C5 area will surely benefit from an increase in parks and recreation space. The estate’s master plan includes a three-hectare central park located at the heart of the estate and will highlight the natural features of the Marikina River

through an esplanade, river park terraces, running and bike trails and riparian gardens. Aside from accentuating the natural topography of the land, these facilities will encourage the community to appreciate the river system surrounding the development. “We want to offer something innovative to the market and Parklinks’ features and amenities will provide opportunities for a different lifestyle,” said Juan Antonio Gatuslao, EPPI Deputy Chief Operating Officer. “We enhanced the whole development with various zones where residents and visitors can relax and engage in recreational activities. Parklinks features zones that are complete with gardens, waterfront entertainment and an outdoor amphitheater. Parks lined with restaurants, multipurpose lawns, eco walks and view decks along the Marikina River are also included in the estate’s design. Perhaps the most awaited feature of Parklinks is an iconic 110-meter long and 25-meter wide bridge that will link Quezon City and Pasig over the Marikina River. This new route will help ease vehicular traffic in the northeast and eastern portions of Metro Manila. The bridge will have dedicated lanes for bikers and pedestrians that would allow for a safe and convenient commute around the development.

Parklinks Mall will have five floors of premium shopping and a sports complex promoting an active lifestyle.

“We’re transforming this development into a community that balances leisure and business, an urban hub that maximizes access to parks and open spaces.”

Parklinks Bridge will offer a safe and convenient route connecting Pasig and Quezon City.

Parklinks will be accessible via C5, Amang Rodriguez Avenue and Ortigas Avenue. It will further benefit from a multi-lane elevated flyover to be built in the area as part of the government’s Metro Manila interchanges construction drive. Residents of the estate will also have easy access to major central business districts such as Makati, Bonifacio Global City, Ortigas Center and Triangle Park Quezon City. Parklinks offers all the benefits of estate living with its well-designed fusion of residential, office and commercial developments. It distinguishes itself however by setting new standards in sustainable waterfront living. The estate will feature Ayala Land Premier’s (ALP) Parklinks North Tower, the first luxury residential development along the C5 corridor. Residential towers by Alveo and Avida will likewise be developed within Parklinks. The anchor of the development will

be the Parklinks’ lifestyle mall, opening in 2023. The regional mall will be situated along the estate’s C5 frontage with five floors of premium shopping. Above the mall will be a 3,500- square meter sports complex that would allow residents to enjoy an active lifestyle through its basketball, volleyball, badminton, gym and dance facilities. Furthermore, three office towers are already in the pipeline under phase one of Parklinks’ development. The first of these will also be situated above the Parklinks Mall, providing office workers and visitors with seamless access to and from commercial and office areas. “We’re transforming this development into a community that balances leisure and business, an urban hub that maximizes access to parks and open spaces,” said Ignacio. “It is a reflection of our purpose to enrich lives and make things better than before for everyone’s benefit.”

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STIMULATING THE PH ECONOMY

POGOs: Good or bad to economy? By Julito G. Rada

CONOMIC managers like to find out if Philippine offshore gaming operators are beneficial or not to the economy. The Bangko Sentral ng Pilipinas is interested to see the benefits the industry brings to the country, aside from taxes collected from Chinese workers that should reach P24 billion annually. BSP Governor Benjamin Diokno said in a recent economic forum hosted by the Economic Journalists Association of the Philippines that monetary officials were studying the economic impact of the rapidly-growing offshore gaming operations including the possible financial stability risks that could emanate from the industry. “I don’t know but we are studying to find out what good it is going to bring for the country. One of the BSP’s mandates is financial stability, so we want to see the financial risks [associated with it] and study the POGO issue,” Diokno said. “What if they leave? What will be the impact to the property sector,” he said, referring to earlier reports that POGO operations have been causing the increasing take-up of property spaces especially in the Bay Area. “You know the GFC [global financial crisis] started in the real estate sector, not from banks itself,”he said, pertaining to the crisis that rocked the global financial markets 11 years ago. The financial crisis of 2007–2008 is considered by many economists as the most serious global economic crisis since the Great Depression of the 1930s. Diokno said the Bangko Sentral might also require banks to provide pertinent information regarding their lending to POGOs. Economic Planning Secretary Ernesto Pernia said the National Economic and Development Authority had not yet quantified the value-added impact of POGO operations in the country.

“We have not yet studied that,” he said. Pernia said he preferred that POGOs go to the regions and not congregate in Metro Manila. “There are too many buildings in Manila. They should locate in the regions so that there would be improvements in the regions,” Pernia said. “They must also be regulated on where they should operate.” CHINA’S POSITION The Chinese embassy in Manila earlier urged the Philippine government to crack down on the POGO operations in the country, saying several Chinese citizens were illegally recruited and hired in offshore gaming operations in the Philippines. State-run Philippine Amusement and

taken away from them. It said that the Chinese are confined to live and work in certain designated places and some of them were subjected to extortion, physical abuse, torture and other ill treatments. At the same time, the embassy said dozens of kidnappings and torture cases of Chinese citizens who gamble or work illegally were reported in the Philippines. It said some Chinese citizens were physically tortured, injured or even murdered. The embassy said that crimes and social problems in China had increased due to a large number of Chinese citizens “lured” into illegal gambling. The Finance Department and the Bureau

‘One of the BSP’s mandates is financial stability, so we want to see the financial risks [associated with it] and study the POGO issue.’ Gaming Corp. said it stopped accepting new applications for offshore online gaming licenses in August after Beijing called on Manila to crack down on gambling operations targeting its citizens. Pagcor chairman Andrea Domingo said the agency would “stop first and look at other concerns that we have not met comfortably.” The regulating body will also weigh the social costs and benefits from POGOs. Domingo said there were 58 licensed offshore gaming operators in the country and three more applications were pending. The Chinese embassy told the government to pay more attention to its position and concerns and take concrete and effective measures to prevent and punish local casinos, POGOs and other forms of gambling entities for their illegal employment of Chinese citizens and crack down related crimes that hurt Chinese citizens. The embassy said most of these illegally recruited Chinese workers had their passports

of Internal Revenue expect to collect at least P2 billion in personal income taxes per month from foreign workers. So far, the government initially collected P200 million from the sector in July 2019. Domingo said POGO hubs were being constructed in Luzon but said these facilities would not limit the freedom of the workers. Instead, they would offer convenience and protection to foreign workers who are mostly Chinese, she said. Earlier, the Labor Department said foreign nationals working for POGOs were estimated at 138,000. In a report to Dominguez recently, the Labor Department and the Bureau of Immigration came up with a reconciled list of 138,001 workers, of which 54,241 were issued alien employment permits and another 83,760 were granted special working permits. Dominguez said assuming that each foreign national was earning an average of $1,500 a month and taxed at 25 percent of his

or her gross income, the government could raise P32 billion a year in income taxes from these workers. Industry sources say regular workers manning call center operations and chat rooms are paid average monthly salaries of P40,000 to P50,000; supervisors up to P75,000; and managers up to P100,000. CHINESE ESPIONAGE? Lawmakers, however, raised concerns over the influx of Chinese nationals in the country, saying they could be used by China to spy on the activities of different government agencies particularly those concerning national security. They particularly mentioned the proximity of POGO operations to vital police and military camps in the metropolis which could pose possible threats to national security. No less than Defense Secretary Delfin Lorenzana said POGO hubs put up near military camps could easily be turned into facilities for spying by the Chinese government. Lorenzana particularly cited POGO hubs at Araneta Center and Eastwood City in Quezon City, both near Camp Aguinaldo and Camp Crame, the headquarters of the Armed Forces of the Philippines and the Philippine National Police, respectively. Other POGO hubs are located near the base of Philippine Air Force in Pasay City and the Philippine Army in Taguig City. The POGO hub being constructed in Kawit, Cavite—located at the Island Cove or Covelandia—is more or less two kilometers from the Philippine Navy headquarters in Sangley Point in Cavite City. Reports said residents in Las Piñas City were concerned about the presence of what they described as “military-looking” Chinese workers in a POGO facility in the city. Rep. Eric Pineda of 1Pacman party-list, who chairs the House committee on labor, said residents saw some Chinese workers there whose haircuts and body build “resemble” those of soldiers. Bayan Muna party-list Reps. Carlos Zarate, Ferdinand Gaite and Eufemia Cullamat filed Resolution 221 urging lawmakers to conduct an investigation into the validity of POGO facilities in the country.

STIMULATING THE PH ECONOMY

Ray S. Eñano, Editor Roderick T. dela Cruz, Assistant Editor business@manilastandard.net extrastory2000@gmail.com MONDAY, SEPTEMBER 16, 2019

BSP adopting accommodative policy

HE Philippine economy needs a boost after a lackadaisical performance in the first two quarters of 2019. It requires stimuli, along with pump-priming from the national government. Economic Planning Secretary Ernesto Pernia also knew that the Bangko Sentral ng Pilipinas had to step into the picture and come up with a response to jolt the economy out of its stupor. Pernia had confidence that BSP Governor Benjamin Diokno would push the right button . “I’m sure the BSP will do something…. Diokno knows it by now. He is a pro-growth central bank governor... I’m quite optimistic he will do the right thing,” Pernia said in early August after the government officially released the GDP figures for the second quarter. The economy grew 5.5 percent in the second quarter, the slowest in four years, as the El Niño dry spell, delayed approval of the government budget, and the ban on construction activities during the midterm elections tempered household demand and government spending. Economic growth in the first half averaged 5.6 percent, below the low end of the government’s target range of 6 percent to 7 percent set for the entire year. The Monetary Board, as if on cue, immediately reduced the reserve

requirement ratio of universal and commercial banks by 200 basis points in three stages within two months to 16 percent from 18 percent to bring more liquidity into the financial market. The RRR cut was expected to release additional liquidity of about P230 billion into the financial system based on the P11.576trillion deposits held by universal and commercial banks as of end2018 as reported by Philippine Insurance Deposit Corp. The Bankers Association of the Philippines welcomed the RRR, saying it would help boost the economy. “ The 2% cut in reserve requirements recognizes the BSP’s effectiveness in strengthening the country’s banking system. It is a bold move, coming on the heels of a policy rate cut, but equally appropriate given how our financial system has advanced under the BSP’s stewardship,” said BAP president Cezar Consing. The BAP expressed optimism that the RRR reduction, together with the easing of policy rates, would sustain the growing economic

momentum. Diokno announced the RRR cut a week after the board reduced the overnight borrowing rate by 25 bps to 4.5 percent. Reserve requirement, also called cash reserve ratio, is a central bank regulation that requires commercial banks to hold a minimum fraction of customer deposits and notes as reserves which they cannot lend out. The reserve requirement ratio in the Philippines at 18 percent is one of the highest in the region. Nicholas Mapa, a senior economist of ING Bank Manila, said with inflation gliding back to within target and expected to remain benign well into 2020, this was the perfect opportunity for the BSP to cut both the policy rate and reduce RRR as the gross domestic product grew at a four-year low of 5.6 percent in the first quarter.

Inflation eased to a 16-month low of 3 percent in April 2019 from 3.3 percent in March on more stable prices of food and other commodities. This brought inflation in the first four months to an average of 3.6 percent, within the government target range. “The gradual reduction in RRR will definitely help alleviate the current tight liquidity conditions and complements its recent policy rate cut,” Mapa said. “After slamming hard on the proverbial brakes in the third quarter of 2018 by jacking up rates by 175 bps, the central bank believed it was time to give the economy a much-needed breather especially with the inflation objective well in hand,” he said. The BSP is not done with its accommodative policy. Diokno said the central bank was inclined to reduce the benchmark borrowing rate by another 25 basis points to 4 percent before the end of the year as the inflation rate is expected to ease further. “We will [continue to] review the pertinent economic data and other developments,” Diokno said during the midyear economic forum organized by the Economic Journalists Association of the Philippines at the Ayuntamiento de Manila. Diokno said giving a hint of another 25-bps cut in policy rate could allow the banking sector more time to prepare on what to

do with extra liquidity. He did not say if the policy rate cut would be made ahead of the planned reserve requirement ratio reduction. “Anything can happen between now and late September [which is the next policy meeting]. Reserve requirement cut remains a live issue,” Diokno said. The Monetary Board, the policymaking body of the BSP, on Aug. 6 slashed the overnight borrowing rate by 25 basis points to 4.25 percent, taking into account the downward trajectory of the inflation rate and the sluggish economic growth in the first half. Diokno said the latest baseline forecasts of the BSP indicated that inflation would likely settle within the target range of 2 percent to 4 percent for 2019 up to 2021. ING Bank Manila senior economist Nicholas Mapa said he was expecting the BSP to cut the policy rates again by 25 bps in its September meeting given the previous comments from Diokno pointing to a total of 50 bps worth of rate cuts before the end of the year. “Furthermore, we expect the BSP to reduce reserve requirements further in the fourth quarter after it completes its 2019 rate cut cycle to help infuse fresh liquidity into the market. RRR reductions will be put on hold as BSP gauges whether additional funds are diverted to productive activities and not simply parked at BSP’s overnight facilities,” Mapa said in a report. Julito G. Rada

MONDAY, SEPTEMBER 16, 2019 extrastory2000@gmail.com

STIMULATING THE PH ECONOMY

Airport projects to enhance mobility By Darwin G. Amojelar

HE Transportation Department is on a mission to enhance mobility and connectivity by completing major airport projects before the end of the Duterte administration in 2022. “Under the Duterte administration, we are committed to improving existing airlines and creating new airports,” Transportation Secretary Arthur Tugade said. “These are our commitment in order to have mobility and connectivity,” he said. One of the accomplishments of the agency was the issuance of the notice of award to San Miguel Holdings Corp. for the Bulacan International Airport project in Bulakan, Bulacan. “ This new international airport is important in helping ease the congestion of the Ninoy Aquino International Airport,” Tugade said. “Together with the expansion of Clark Airport and the construction of additional facilities at Sangley Airport, Bulacan Airport is a part of ‘baskets of solutions’ to bring further connectivity to the Filipino people,” he said.

O&M of the new terminal at CIA to Luzon International Premier Airport Development Corp. The new terminal, the first hybrid PPP project implemented under the Duterte a d m i n i s t rat i o n , wa s 7 4 . 5 8 - pe rce nt completed as of July and would be operational by 2020. By then, the airport capacity would treble from the current 4.2 million. LIPAD Corp. is the consor tium of Filinvest Development Corp., JG Summit Holdings Inc., Philippine Airport Ground Support Solutions Inc. and Changi Airports Philippines (I) Pt. Ltd. Aside from handling the O&M of the new terminal and its existing facilities, the consortium is also set to develop the commercial assets, operate and maintain project facilities and fit-out the new terminal.

An artist’s sketch of the New Manila International Airport in Bulakan, Bulacan.

The Bulacan Airport will have a design capacity of 100 million passengers per year but can be expanded to 200 million. With four parallel runways, it targets 240 aircraft movements per hour. The project will also include the construction of an 8.4-kilometer tollway that will connect the airport to the North Luzon Expressway in Marilao, Bulacan. The new international gateway is expected to be operational within four to six years from the start of the construction. SMHC aims to break ground and start the actual construction of the project before the end of this year. San Miguel Corp. president and chief operating officer Ramon Ang said the $15-billion Bulacan airport project would generate over a million direct and indirect jobs, improve the quality of life of thousands of families and give rise to small industries in Bulacan and neighboring provinces that will support workers. “Over and above that, once completed, this new international gateway will help in significantly boosting tourism—leading to million more new jobs across many industries all over the country. With more tourists, more flights and more options for air passengers, travel costs will also go down,” Ang said. “Another major benefit is traffic decongestion for Metro Manila. By locating this airport in Bulacan and connecting it via mass rail and expressways to Metro Manila, it will unclog traffic in major cities near the current airport,” he said. Tugade also said the turnover of the operation and maintenance of Clark International Airport to the private sector would further improve its services. The DOTr and the Bases Conversion and Development Authority turned over the

The government is also in the process of improving the Ninoy Aquino International Airport through the unsolicited proposal of NAIA Consortium. The consortium’s members are Aboitiz InfraCapital Inc., AC Infrastructure Holdings Corp., Alliance Global Group Inc., AEDC, Filinvest Development Corp., JG Summit Holdings Inc. and Metro Pacific Investments Corp. The P102-billion proposal involves expanding and interconnecting the existing terminals of NAIA, upgrading airside facilities, developing commercial facilities to increase airline and airport efficiencies, enhancing passenger comfort and experience and elevating the status of NAIA as the country’s premier international gateway. The project aims to increase NAIA’s capacity up to 65 million passengers per year from about 40 million at present. It will elevate NAIA to the level of major regional airports such as Changi in Singapore and Suvarnabhumi in Bangkok. It is also seen to become a viable transit hub for the ASEAN region. The NAIA Consortium tapped Changi Airports International Pte. Ltd. of Singapore to provide technical support in the areas of master planning, operations optimization and commercial development. Besides building and improving existing airports, the DOTr also teamed up with local airlines to decongest the Ninoy Aquino International Airport. The airlines committed to help in the decongestion of NAIA through an improved on-time flight performance, supporting the development of other gateways including Sangley Airport in Cavite and improving the travel experience of air passengers.

STIMULATING THE PH ECONOMY SPECIAL REPORT ON THE ECONOMY ANITA F. GREFAL Operations Head RAY S. EÑANO Business Editor

BALDWIN FELIPE Head, Advertising Solutions

RODERICK T. DELA CRUZ Assistant Business Editor

PAULA REYNOSO Head-Supplements

DARWIN G. AMOJELAR JENNIFFER B. AUSTRIA OTHEL V. CAMPOS ALENA MAE S. FLORES JULITO G. RADA Reporters

MERCEDITA PASCUAL SHIRLEY UMALI BELINDA GOOD ALBERT LEGASPI Ad Solutions Specialists

VICKIE R. AYENG MC MACARANAS Layout Artists

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STIMULATING THE PH ECONOMY

MONDAY, SEPTEMBER 16, 2019 extrastory2000@gmail.com

Luzon rail opens more opportunities

HE Philippines needs a truly modern railway network that will cut across Laguna, Metro Manila and the provinces of Bulacan, Pampanga and Tarlac to decongest traffic.

The North–South Commuter Railway, or NSCR, and also known as the Clark– Calamba Railway, is one major infrastructure project that aims to ease traffic and make traveling convenient to commuters. The Department of Transportation should pursue the railway project at all costs, after the Asian Development Bank and the Japan International Cooperation Agency both endorsed its economic viability. The 147-kilometer elevated Clark-Calamba railway project, which will run from Calamba to New Clark City in Capas, Tarlac and cost a total of P778 billion, is already in several stages of implementation. Big local companies lately submitted bids for the three contract packages under the Malolos-Clark phase. It will feature the country’s first airport express railway service. Once completed, it will allow commuters to reach the Clark International Airport from Buendia in Makati in just 55 minutes, compared to two hours by private vehicle via expressway. The second phase of the railway system alone is expected to accommodate 340,000 passengers in its opening year in 2022.The rail network project is key to the further economic development of the industrial provinces of southern and northern Luzon. Aside from easing traffic, the rail will speed up the flow of goods and produce from these provinces, after being linked to other future railway networks. Another component of the government railway system is the P175-billion Philippine National Railways South Railways project, a 639-kilometer line from Manila to Matnog, Sorsogon. Connecting the southernmost part of Luzon to the central provinces will boost productivity and commerce in the main island. The government should give top priority to rail projects across the Philippines and within Metro Manila and other urban centers. All right-of-way problems should be settled soon to assure their speedy construction. They should also be spared from unnecessary delays and the petty issues normally raised by local government units.

PLDT-SMART FOUNDATION CELEBRATES

25 YEARS OF CHANGING LIVES

THE PLDT Smart Foundation (PSF) is celebrating its 25th anniversary in September, marking a quarter century of involvement in the fields of education, livelihood and social enterprise, disaster response and recovery, youth, arts, and sports development. As a non-profit organization, the PSF serves as the social outreach arm of the country’s leading telecom and digital services provider PLDT and its wireless subsidiary Smart Communications, and is headed by PLDT and Smart Chairman Manuel V. Pangilinan. “Over the past quarter century, the PLDT-Smart Foundation has been actively pursuing various efforts to change the lives of Filipinos for the better. The Foundation has become a platform for helping the country’s nationbuilding through its diverse CSR efforts. It has pursued these efforts through strong, effective partnerships with corporations, non-government organizations, cooperatives, institutions, and, national and local government units and agencies,” Pangilinan said. SILVER ANNIVERSARY MILESTONE “25 years is a milestone for us. It is a manifestation of our passion for the work that we do, for the many lives we’ve touched, and for the countless hours we have dedicated in reaching out to different people and various communities over the years. In turn, our lives have been changed by these people who have shown such resiliency and bravery,” PSF President Esther Santos said. Two of PSF’s main pillars include education and its partnerships. The PSF believes in investing in our teachers and students through educational programs and scholarship grants that can help elevate the overall quality of education in the Philippines. SACK OF JOY In celebration of PLDT’s 90th year, the PSF fuels the sparks of hope and joy in students across the country by giving out Sacks of Joy. These contain school supplies to help students perform better at school. PLDT employees are encouraged to nominate any public school which needs support by sending the school profile to the foundation. In less than a year, the PSF has reached out to a total of 77 schools nationwide with over 9,000 Sack of Joy bags distributed. GABAY GURO PROGRAM In support of the Department of Education (DepEd)’s goal of improving the quality of education, the PSF, in coordination with the PLDT Managers Club Inc. (MCI), created a program to foster professional development among Filipino teachers. As PSF’s education program arm and flagship project, Gabay Guro provides support through scholarship grants to deserving students taking up Bachelor of Science in Education; teachers’ training; livelihood programs; school broadbanding and computerization; housing and educational facilities; teachers’ tribute; and innovation. Since Gabay Guro’s inception in 2007, there has been a total of 1,313 graduates. Of which 680 are Licensure

Some of the teachers pose for a group photo.

Built to withstand at least 280 kph of wind, the 266 MVP Homes by Tulong Kapatid, which follow a duplex style design with two bedrooms, bathroom, and kitchen, were turned over to the Typhoon Pablo survivors last March 1, 2016.

Every family has a chance to start anew in the MVP Homes Village by Tulong Kapatid. Seen here is a family riding a tricycle which they also use as their source of income.

The 1,200-square-meter evacuation center can accommodate 1,500 people and aims to be the point of convergence for the residents during special events and a temporary shelter in times of calamity.

A teacher from Pamampangin Elementary School shares some of the literacy apps to her students.

A group of kids happily hold their PLDT Sack of Joy bags.

Exam for Teachers (LET) Passers. Over the last 12 years, the Gabay Guro program has trained over 19,000 teachers nationwide. SCHOOL-IN-A-BAG (SIAB) The PSF, together with Smart Community Partnerships, implemented the School-in-a-Bag Program in order to utilize technology to make

Two teachers join Gaby Concepcion onstage during the Gabay Guro Grand Gathering in 2018.

educational materials accessible to schools in remote and underserved communities, especially those without access to electricity and connectivity. The Program uses mobile technology coupled with an innovative, 21st century teaching pedagogy and K+12 content to enable learning. UBS Philippines donated P1M to PSF in 2017 which benefited 10 recipient schools nationwide. The School-in-a-bag contains one LED TV, one teacher’s laptop, five mobile tablets, one solar panel with batteries, one teacher’s tablet, one Smart Bro LTE pocket wi-fi with starter load, and one memory drive for storage of educational content and other school files, curriculumbased educational content and training immersion for teachers, which includes the Dynamic Learning Program (DLP) Methodology. Moreover, the PSF also donated three units of SIAB to the 4th district of Ormoc. It was one of the areas severely affected by Typhoon Yolanda in 2013. DYNAMIC LEARNING PROGRAM Powered by the PSF and Smart, the DLP is a framework for teaching that enables children to become independent learners. It also aims to significantly improve the students’ academic performance despite the multiple socioeconomic constraints. The program uses the curriculum of the DepEd. The DLP was developed by renowned physicists and Ramon Magsaysay awardees, Dr. Christoper Bernido and Dr. Ma. Victoria Carpio Bernido. Created in 2002, Smart and the PSF have been supporting the program since 2011 and has reached out to over 158 schools across the country.

PNP EDUCATIONAL GRANTS The Philippine National Police (PNP) educational grant program provides a one-time grant to the children of PNP officers who were killed or injured during service. A total of 50 dependents have benefited from this program in 2018 alone. Since the partnership’s inception a decade ago, it has helped a total of 571 qualified dependents of PNP personnel. BUILDING STRONG PARTNERSHIPS The last 25 years has enabled the PSF to build strong partnerships over time. The PSF is among the members of the MVP Tulong Kapatid, which is the CSR consortium of the MVP Group of Companies. Some of the most notable projects that the PSF has been a part of through the MVP Tulong Kapatid, includes the MVP Tulong Kapatid Homes in Davao Oriental. Built to withstand at least 280 kph of wind, the 266 MVP Homes by Tulong Kapatid, which follow a duplex-style design with two bedrooms, bathroom, and kitchen, were turned over to the Typhoon Pablo survivors last March 1, 2016. Led by the PSF, in partnership with the Archdiocese of Palo and One Meralco Foundation, the multi-purpose evacuation center in Palo, Leyte is designed to withstand strong typhoons and floods. The 1,200-square-meter evacuation center can accommodate 1,500 people and aims to be the point of convergence for the residents during special events and a temporary shelter in times of calamity. The PSF and One Meralco Foundation also turned over the MVP Technology and Innovation Center to the Pamantasan ng Lungson ng Maynila (PLM). Through the donation, the PSF aims to provide better quality education among PLM students by improving PLM’s infrastructure, facility, and equipment. Every year, the MVP Tulong Kapatid comes together for Paskong Kapatid. Since 2012, the Paskong Kapatid has spread some early Christmas cheer to over 700 kids from different charities and communities.

Some students use the gadgets available inside the School-in-a-Bag.

MONDAY, SEPTEMBER 16, 2019

STIMULATING THE PH ECONOMY Notre Dame Broadcasting Corporation Through The Years “Evangelization through the broadcast media.” This was the dream of Bishop Gerard Mongeau, one of the pioneering missionaries of the Oblates of Mary Immaculate (OMI) in the Philippines. This dream turned into reality with the establishment in 1956, and subsequently the inauguration on February 17, 1957, of Radio Station DXMS (882 kHz) in Cotabato City. This dream also gave birth to the Notre Dame Broadcasting Corporation which has at present three FM and three AM commercial broadcast stations. A. DXMS-AM, 882 kHz, Cotabato City. DXMS holds the distinction of being the first Catholic commercial station in the Philippines. Its call letters stand for Radio Mindanao-Sulu, the primary mission area of the Oblates of Mary Immaculate. In its early years, DXMS served only areas under the Cotabato Diocese by broadcasting mainly religious programs. Amidst this, however, was the ardent desire of the Church to reach more areas, to cope with a growing audience, and to keep pace with the changing times. B. DXND-AM, 747 kHz, Kidapawan City. In 1964, the Oblates put up its second radio station in the then undivided Cotabato Province called Cotabato “empire”. Originally meant to be a non-commercial campus-based radio station, DXND occupied a section of the elementary training department building at the Notre Dame Colleges, now Notre Dame University, in Cotabato City. There it was inaugurated and blessed on August 22, 1964. DXND was programmed as a news-and-music station in contrast to its sister station, DXMS, which had a more varied mix of public affairs, magazine and religious programs. The proclamation of Martial Law by President Ferdinand E. Marcos in September 1972 resulted in the closure of all radio stations in the country. Owing to its important role in Central Mindanao, DXMS was allowed to reopen and broadcast the day after it was closed. All its news reports, however, had to be cleared with the military before being aired. DXND was not as lucky. Marcos’s martial law government issued a policy that no two radio stations of the same network would be allowed to operate in the same locality. It remained closed for two years. In 1973, seeing the need to fill a vacuum in the evangelization thrust of the Church in the newly-established Prelature of Kidapawan, DXND’ s equipment was moved to Kidapawan. On the birthday of Archbishop Gerard Mongeau, OMI, DD, on February 4, 1974, DXND officially went on air and started broadcast from its new home. C. DXOL-FM, 92.7 MHz, Cotabato City and DXDM-FM 88.7 MHz, Kidapawan City. Seeing the growing popularity and influence of FM stations, particularly among the youth in the mid-1980’s, the Oblate Congregation thought it a good vehicle to put the good news across. On July 24, 1987, DXOL-FM (92.7 mHz) was born in Cotabato City. After DXOL, there was no turning back for the Oblates. They saw the importance of putting up a youth-oriented FM station in Kidapawan. This came into fruition when DXDM-FM (88.7 mHz) was formally inaugurated on April 5, 1992. D. DXOM-FM, 91.7 mHz, Koronadal City. After setting up DXDM-FM in Kidapawan, the Oblates also set their sights on an area where they used to do missionary work: South Cotabato. Establishing DXOM-FM (91.7 mHz) in Koronadal City, the Oblates were able to bring back through NDBC, their service to the province of Cotabato (now composed of the provinces of Cotabato, Maguindanao, Sultan Kudarat and South Cotabato). DXOM was formally launched on December 8, 1993. E. DXOM-AM, 963 kHz, Koronadal City. Almost 3 decades passed before Notre Dame Broadcasting Corporation again expanded with the establishment of another AM radio station in South Cotabato. Spurred by its desire to inspire and empower its listeners and provide more people with credible news and information through responsible broadcast journalism, NDBC inaugurated on December 8, 2014 its newest platform in propagating news, music, and public service - DXOM-AM (963 khz) in Koronadal City. The blessing and launching of DXOM-AM by His Eminence Orlando Cardinal Quevedo, OMI, DD, Archbishop of Cotabato and the first cardinal from Mindanao, came as the OMIs celebrated their 75th year of daring missionary presence in the Philippines. NDBC-Media Marketing (NDBC-MM) Finding the need for an office in Manila to represent the NDBC stations to advertisers, on December 8, 1996 NDBC-Media Marketing was created to cater to Manila advertisers, eventually expanding to other advertising medium. The NDBC-Media Marketing (NDBC-MM) is the national sales marketing arm of the company and its affiliates/properties in broadcast, print, cable and television situated in Luzon, Visayas and Mindanao. NDBC-MM is directly handled by the Chief Executive Officer (CEO) who has the final say in the office. He/She is assisted by the Chief Operating Officer (COO) of NDBC-MM who also sits as the National Sales Director (NSD). The COO directs the sales, marketing, collection, processing, communication and broadcast traffic of the NDBC-MM. While having a defined domain for initiative and decision making, as delineated by his/her job description, and as further specified in memoranda as circumstances may require, he/she, nevertheless, reports directly to the CEO. Congress Renews NDBC Franchise On October 18, 2018 R.A. 11099, “An Act Renewing For Another Twenty-Five (25) Years The Franchise Granted To Notre Dame Broadcasting Corporation Under Republic Act No. 8109, Entitled ‘An Act Granting The Notre Dame Broadcasting Corporation A Franchise, To Construct, Install, Operate And Maintain Radio Broadcasting Stations In The Philippines For Religious, Educational And Cultural As Well As For Commercial Purposes’.” Hence, NDBC continues to be of service to their listeners for the next twenty-five (25) years. Presently the network is spearheaded by Chief Executive Officer (CEO), Fr. Rogelio C. Tabuada, OMI. Supporting him in the branches where they operate are the Station Managers: Ms. Grace Vergara-Tanghal, NDBC-Kidapawan; Mr. Carlos C. Bautista, NDBC-Cotabato; and Mr. Edwin O. Fernandez, NDBC-Koronadal. Meanwhile, NDBC-Media Marketing is headed by Chief Operating Officer (COO) and National Sales Director Mr. Rikki D. Climaco, while Regional Sales Director is Ms. Agnes Myra L. Piñol.