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TRUMP IMPEACHED FOR ‘ABUSE OF POWER’ PRESIDENT Donald Trump was impeached for abuse of power in a historic vote in the House of Representatives on Wednesday (Thursday in Manila), setting up a Senate trial on removing him from ofﬁce

President Donald Trump

after three turbulent years. By a 230 to 197 vote in the Democratic-majority House, the 45th US president became just the third occupant of the White House in American history to be impeached.

Democrats said they had “no choice” but to formally charge the 73-year-old Republican, whose impeachment along stark party lines places an indelible stain on his record while driving a spike ever

deeper into the US political divide. “What is at risk here is the very idea of America,” said Adam Schiff, the lawmaker who led the impeachment inquiry, ahead of the vote. Next page

VOL. XXXIII • NO. 309 • 4 SECTIONS 20 PAGES • P18 FRIDAY, DECEMBER 20, 2019 • www.manilastandard.net • mst.daydesk@gmail.com

Verdict worth 10-year wait —prosecutors By Rey E. Requejo, Maricel V. Cruz and Macon R. Araneta THE members of the Department of Justice prosecution panel on Thursday said they were happy with the judgment rendered by the Quezon City Regional Trial Court on the Maguindanao massacre case, which resulted in the conviction of 28 principal accused in the mass killing of 58 individuals, including 32 journalists. Speaking on behalf of the 10-man prosecution panel, Senior Deputy State Prosecutor Richard Anthony Fadullon said the DOJ prosecutors were satisﬁed with the decision by Judge Jocelyn Solis-Reyes, but they acknowledged that their work is not yet over. “Although some of the accused were acquitted, it does not mean that the prosecution failed. Of course, in a way we’re happy with the decision that was rendered,” Fadullon said in a press conference. In her 761-page decision, the Quezon City RTC found 28 of the 197 accused guilty, including the eight members of the inﬂuential Ampatuan clan. They were found guilty for 57 counts of murder and sentenced to 40 years in prison without parole. However, 15 of the accused were sentenced to six to 10 years of imprisonment for being accessories to the crime. Fiftysix of the accused were acquitted, including four Ampatuan family members: Jonathan, Jimmy, Datu Akmad Tato, and Datu Sajid Islam Ampatuan. Fadullon said the prosecution will review the decision and regroup after the holidays to study their next legal action. “I think it is premature for us (to say that more accused should have been convicted) considering that the decision is 700 plus pages. We would go over the decision. The prosecution panel knows the evidence it presented in the course of the trial. I think we have an inkling who we Next page

Missing victim gets no justice

Guilty as charged; 5 Ampatuans in jail • 4 others, 56 more acquitted • Ruling partial, 80 suspects at large • Masterminds to pay civil damages By Rio N. Araja, Joyce Pangco Pañares, Angelica Villanueva and Charles Dantes

IVE members of the Ampatuan clan were found guilty beyond reasonable doubt Thursday for the massacre of 57 people, including 32 journalists and media workers, in the Nov. 23, 2009 massacre in Ampatuan town in Maguindanao—the worst case of election-related violence in the country’s history. Former Datu Unsay Mayor Andal Ampatuan Jr. and his brother, former Autonomous Region in Muslim Mindanao governor Zaldy Ampatuan, were convicted for 57 counts of murder. Other members of the Ampatuan clan who Next page

SO ORDERED. This handout from the Supreme Court-Public Information Office, taken and released Thursday, shows presiding judge Jocelyn Solis-Reyes speaking during the verdict for the 2009 Maguindanao massacre at the trial venue inside a prison facility in Manila. AFP

Judge dares where others fear to tread

By Joyce Pangco Pañares

By Rey E. Requejo

TEN years ago, 58 people, including 32 journalists and media workers, were slaughtered in Ampatuan town in Maguindanao, in the worst case of election-related violence in the country’s history. But on Thursday, only 57 of them received justice. “When I heard the number 57, I knew right away my father’s case was not included,” said Ma. Reynafe Castillo, daughter of Victim Number 58, photojournalist Reynaldo Momay, whose body has yet to be found. “Nabingi na po ako. Wala na akong narinig after nung 57 (I went deaf. I did not hear anything after hearing the number 57),” said Castillo, who

TEN years and two days after she was assigned to the case, Quezon City Judge Jocelyn Solis-Reyes handed down her judgment in the country’s most celebrated case of mass murder, ﬁnding members of the powerful Ampatuan clan guilty beyond reasonable doubt of killing 58 people—including 32 journalists—on Nov. 23, 2009. Reyes’ verdict was contained in a 761page decision, highlights of which were read aloud by Clerk of Court Aissa Sto.

30 YEARS SANS PAROLE.

The masterminds of the Philippines’ worst political massacre in 2009 Zaldy Ampatuan (top right) and Andal ‘Datu Unsay’ Ampatuan Jr. (below) of the powerful political dynasty are found guilty of the murder of 58 people, including 32 journalists—in a rare conviction of mighty personalities in a country notorious for its perceived culture of impunity. At right, an unidentified court employee reading the court verdict while surviving victims’ relatives are celebrating in Taguig City.

Domingo, before a jam-packed courtroom inside the Metro Manila District Jail Annex 2, in Camp Bagong Diwa, Taguig City. Reyes took on the multiple murder cases after Quezon City RTC Branch 84 Presiding Judge Luisito Cortez to whom the case was ﬁrst rafﬂed off to on Dec. 15, 2009 opted to inhibit himself from handling the case for fear that he and his family could be the target of attacks from the accused members of the Ampatuan clan, whose clout could reach Metro Manila. Next page

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Cortez, who already survived an ambush during his stint in Bulacan,said he received death threats when he handled the highprofile case involving the assassination of Abra Rep. Luis Bersamin in December 2006. The principal accused in this case was former Abra Governor Vicente Valera. Cortez’s decision sparked indignation from several lawmakers who branded his recusal as “cowardice,” one of them even calling for his resignation from the judiciary. On Dec.17, 2009 when Reyes learned that the celebrated mass murder case was re-raffled off to her, she did not hesitate to accept the task to try the grusome murders of 58 people. “What I can only say is that it was raffled to my sala, and I am ready to take over the case,” Reyes was quoted as telling then Philippine National Police deputy chief for operation Jefferson Soriano, who offered her police security personnel. But she turned down the offer for additional security. On June 28, 2011, the Supreme Court issued a resolution exempting Reyes from the raffle and assignment of other cases, and designated her sala as a “special court” dedicated to the Maguindanao massacre case trial. In this way, said Court Administrator Midas Marquez, Reyes was provided “sufficient time and resources to focus and concentrate on the trial proceedings of the Maguindanao massacre cases and to decide the said cases with dispatch.” To free up Reyes, the Court also designated assisting judges to help her dispose of the cases earlier assigned to her sala. Marquez admitted that Judge Reyes encountered “many challenges” in the course of the trial because the case involves 197 accused and hundreds of witnesses, but he noted that the judge did not show any sign of hesitation. “She may have felt that way but she never told me anything to that effect,” the Court Administrator said, noting that Reyes made requests, but mostly for additional staff. Due to the sheer volume of the case records, Reyes sought additional researchers to help review documents, pleadings and transcripts of proceedings to ensure that all bases were covered in making her decision. During the trial, the judge did not agree to interviews. Reyes started her stint in the judiciary on June 7, 2001 when she was appointed presiding judge of the Municipal Trial Court in Angeles City Branch 1, before she was promoted as judge at the Quezon City regional trial court on Dec. 28, 2004. Judge Reyes finished her college degree in journalism at the Lyceum of the Philippines. She pursued her study of law at the University of Santo Tomas Faculty of Civil Law where she graduated in 1986. She passed the Bar Examinations in November 1987, with a grade of 80.80 percent. From January to October 1987, she served as clerk II at the Institute for Labor Studies, and became labor and development analyst of the same office from November 1987 up to September 1988.

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is now based in Minnesota in the United States. The only things recovered from the massacre site that would point to the presence of the 61-year-old part-time photojournalist were Momay’s dentures and ID card. A reporter who was supposed to join the ill-fated convoy carrying family members of now Maguindanao Rep. Esmael Mangudadatu, a political opponent of the Ampatuans; lawyers; and journalists said they saw Momay, wearing a cap and a jacket, board the vehicles. “There was no body, no corpus delicti. [But] there was an unbroken chain of circumstantial evidence placing him on that ill-fated convoy, up to the very last hour,” said Romel Bagares of the Center for International Law that handled Momay’s case. Bagares said there was also the testimony of the owner of a motorcycle that Momay borrowed to go to the Mangudadatu residence. The motorcycle was recovered, but Momay’s body was nowhere to be found. “Do you know how it feels to have no closure?” asked Castillo, who, for three years after the massacre, religiously attended hearings to push for the inclusion of her father in the case, thus making the total number of victims 58. “The first three years was a fight for the count, a fight just to file a case against the perpetrators...I believe in my heart my father was among those who were killed, but I have no body to show,” she said. Lawyer Harry Roque said the prosecution will appeal the decision of the court to list only 57 counts of murder, effectively excluding Momay’s case. “I told the court that we will file a motion of appeal for the civil aspect of the case. We are happy with the decision but we are sad for Momay. How can it be that his set of false teeth was recovered from the massacre site, yet he is not included in the list of victims?” Roque said. But for Castillo, the fight is not about the money. “What breaks my heart is that all I’m after is justice. I don’t care about any monetary award. How can I live on money that came from the blood of my father? I don’t think I can live with that,” she said. “I’m really frustrated with the promulgation. I did not expect it will come to this.”

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Sara-Digong in 2022, poll predicts By MJ Blancaﬂor

This came after a non-commissioned survey revealed that Davao City Mayor Sara Duterte-Carpio and the President had emerged as the top candidates for President and Vice President, respectively, for Visayas and Mindanao voters. Presidential Spokesman Salvador Panelo said he had informed the President of the Duterte-Duterte tandem for the 2022 elections and the President “smiled.”

“The President is not prohibited from running as Vice President...If you speak of possibilities, then it’s limitless. All of that is possible, Panelo told reporters. But he added: “Election is very far from his mind. Running for any ofﬁce is farfetched at this time.” Duterte has repeatedly said he is tired of his job and advised his daughter, Sara, not to run for a higher public ofﬁce.

“His [Duterte’s] focus is on his constitutional duty to serve and to protect the people. Until the end of his term he will do it with passion, with dedication and no force on earth or organizations or persons can stop or impede him from doing such tasks assigned to him by the Constitution, Panelo said. The survey, which randomly chose 2,000 respondents in the Visayas and Mindanao, was released by the political consultancy ﬁrm PUBLiCUS Asia Inc. and processed by its data science arm, VOX Opinion Research. Duterte-Carpio emerged on top from a list of 21 potential presidential candidates, with 35 percent of the respondents selecting her. Senator Grace Poe-Llamanzares followed with 11 percent, Manila Mayor

Guilty...

tor Phil Robertson said the momentous verdict should “build toward greater accountability for rights abuses in the country.” “Advocates should use this verdict to spur further political and judicial reforms to ultimately end the impunity that has plagued the country for far too long. More broadly, this verdict should prompt the country’s political leaders to finally act to end state support for ‘private armies’ and militias that promotes the political warlordism that gave rise to the Ampatuans,” he said. Presidential Spokesman Salvador Panelo said the Palace welcomes and respects the decision rendered by Judge Solis-Reyes. “The court has spoken and rendered its decision on the basis of the evidence presented by both the prosecution and the defense. There were verdicts of guilty and acquittal. It behooves the parties to respect them. There are those who view the judgements as justice having prevailed. There are others who have contrary views. Those who disagree with the judgements of the court have legal remedies under disposal,” Panelo said. “Ultimately, it will be the Supreme Court that will give the final judgment. For now, what is important is that the rule of law has prevailed,” he added. There were roughly 100 defendants due for sentencing on Thursday. The verdicts for the principals in the case, those accused of orchestrating the massacre and leading the killings, were announced first. The murders had cast a spotlight on the country’s notorious culture of impunity, in which powerful and wealthy politicians and businessmen often operate above the law. The Ampatuans ruled the impoverished southern province of Maguindanao and were allowed to build a heavily armed militia by then President Gloria Arroyo to serve as a buffer against a long-running Muslim insurgency in the region. Prosecutors said family members and their associates carried out the attack in broad daylight on a convoy carrying an Ampatuan family rival’s wife, relatives, lawyers and the journalists, who were killed in a hail of gunfire. With scores of witnesses and mountains of legal paperwork, the case had creaked through a Philippine justice system that is infamous for being overburdened, underfunded and vulnerable to pressure from the powerful.

During the case’s years of delays, patriarch Andal Ampatuan Sr. and seven other defendants had died. Amnpatuan Sr. had then been governor and wanted to hand over the reins of power to his son and namesake. The decision by another clan to challenge this dynastic bid in 2010 elections led the Ampatuans to carry out the massacre. Despite Thursday’s verdict, justice has still not fully been achieved. About 80 other suspects remain at large, including police ofﬁcers and Ampatuan clan members who are feared to pose a risk to the prosecution witnesses and the victims’ families. And the Ampatuans remain a political force in the south. Ampatuan family members won 25 local seats in May’s elections including Sajid Ampatuan, a defendant in the massacre case who was released on bail. In Thursday’s verdict, the court acquitted another Ampatuan sibling, Sajid Islam Ampatuan, former governor of Maguindanao, and another family member, Akmad “Tato” Ampatuan Sr., a former mayor, for lack of evidence. In 2007, the Court of Appeals upheld with ﬁnality the bail grant for Sajid Islam Ampatuan. The judge on Thursday called the attention of his lawyer for his absence during the promulgation. Also acquitted were then SP01s Elizer Rendaje, Alimola Guianaton and Samad Maguindra; P03s Ricky Balanueco, Felix Daguilos and Gibrael Alano; P02s Rexson Guima, Tanny Dalgan and Kendatu Rakim; P01s Oscar Donato, Michael Madsig, Abdullah Baguadatu, Anwar Masukat, Ahmad Camsa Badal, Amir Solalman, Badjun Panegas, Pendatun Dima, Ebara Bebot, Tamano Hadi, Michael Macarongon, Ali Solano, Abdulraman Batarasa, Marjul Julkadi, Datu Jery Utto, Mohammad Balading, Marsman Nilong, Ysmael Baraquir, Abdulmanan Saavedra, Jimmy Kadtong, Sandy Sabang and Warden Legawa; Insp. Bahnarin Kamaong, and Supt. Abdulwahid Pedtucasan. The others were Takpan Dilong, Edris Tekay Nanding, Jonathan and Jimmy Ampatuan, Reiner Ebus, Mohamad Sangki, Tho Amino, Norman Tatak, Malaguial Tanuri, Alimudin Sanguyod, Mama Habib, Sahid Guiamadel, Datutulon Esmail, Kasim Ling-

kong, Akad Macadon, Norhato Kamino, Nasser Malaguia, ISamsudin Daud, Maot Bangkulat and Denga Mentol. Also convicted were Anwar Sajid Ampatuan, Datu, Insp. Saudi Mokamad, P01 Jonathan Engid, Abedin Alamada, Talembo Masukat, Kahar Abdulrakman, Theng Sali, Abdulkahar, Manny Ampatuan, Nasser Esmael, Chief Insp. Sukarno Dicay, Supt. Abusama Mundas Maguid, Supt. Bahnarin Kamaong, Datu Anwar Ampatuan Sr., Tato Tampogao, Mohades Ampatuan, Mohamad Datumanong, Misuari Ampatuan, Taya Bangkulat, Salik Bangkulat, Thong Guiamano, Armando Ambalgan, Kudza Masukat Uguia, Edres Kasan, Zacaria Aki and Samaon Andatuan. The two Ampatuans convicted of multiple murder were ordered to indemnify the kin of victim Genalyn Mangudadatu, wife of now Maguindanao Rep. Esmael Mangudadatu, P100,000 in civil damages, P100,000 in moral damages, as well the heirs of the other victims separately. Found guilty for acting as accessory to the crime penalized for six to 10 years maximum were Insp. Michael Joy Macaraeg; P03 Felix Enate, Abibudin Abdulgani and Rasid Anton; P02 Hamad Nana, Saudi Pasutan and Saudiar Ulah; Esprilieto Lejarso, Narkuok Mascud, Pia Kamidon and Esmael Guialal; P01 Arnulfo Soriano and Herich Amaba; Sr. Insp. Abdulgapor Abad, and Bong Andal. Reyes issued arrest warrants on the 80 other suspects, including Datu Kanor Ampatuan, brother of the late Ampatuan patriarch, who remain at large. Nena Santos, a private prosecutor, welcomed the court’s decision. Maritess, the wife of Guianaton, said, “My husband is now vindicated. He was hundreds of meters away when the crime happened.” Another private prosecutor, former presidential spokesperson Harry Roque, said despite their victory, the case is not yet over since 80 other suspects remained at large. Mangudadatu lauded Reyes for the conviction of those who killed his wife, sisters and lawyers, and the other victims. He, however, questioned the acquittal of Sajid Islam. Reyes took over the case on Jan. 5, 2010 when Judge Luisito Cortez inhibited himself fro security reasons. Lawyers for the convicted Ampatuans said they would ask the court to reconsider its decision.

were Senior Assistant State Prosecutor Ma. Emilia Victorio, Senior Assistant State Prosecutor, Olivia Torrevillas, Senior Assistant State Prosecutor Teofel Austria, Senior Assistant City Prosecutor Susan Villanueva, Senior Assistant City Prosecutor Arthur Velasco, Assistant State Prosecutor Rodan Parrocha, Assistant State Prosecutor Michael John Humarang, Assistant State Prosecutor Moises Acayan, and Assistant Prosecution Attorney II Jerome Coronel. Robles thanked all past and current members of the prosecution panel who endured the decade-long trial, former and current DOJ ofﬁcials and the National Bureau of Investigation for their security. Lawmakers led by Maguindanao Rep. Esmael Mangudadatu, who lost a wife and a sister in the massacre, welcomed the conviction of the principal perpetrators of the mass murder. But many of them said the quest for justice is just half through since those convicted can still ﬁle motions for reconsideration at the Regional Trial Court in Quezon City, or appeal the decision before the Court of Appeals. “I, my children, siblings and relatives as well in behalf of families who lost their loved ones are grateful for your prayers and support that enabled us to get justice after 10 years,” Mangudadatu said in Filipino,. “Although some of the accused were acquitted, we are happy that those who are supposed to be punished were meted out life imprisonment.”

Dasmarinas City Rep. Elpidio Barzaga, said the authorities should look further into the case of the 80 accused who remain at large. In a decade of hearings, a total of 357 witnesses were heard by Reyes with the case record reaching up to 238 volumes—all consolidated in a 761-paged decision. Barzaga commended the legal prowess, commitment, and bravery of Reyes who decided the case despite threats to her life and members of her family. But he also said the convictions would “surely be appealed all the way to the Supreme Court with process taking years again.” He called for the judiciary to adopt measures that will expedite legal proceedings and improve the administration of justice. Rep. Ron Salo of the party-list group Kabayan said the Ampatuan massacre “is a triumph of justice and the rule of law, and a clear reminder that no one is above the law, no matter how powerful, influential, or wealthy. Indeed, we are a society governed by laws, not by men.” Salo said the massacre should also push the Congess to work on and passlaws to protect journalists in conflict zones, election hotspots, and “battlegrounds of criminality.” Ako Bicol party-list group legislators meanwhile said the legislature “must find ways to bar criminal warlords from running for all public positions whether appointive or elective.” Ako Bicol Reps. Alredo Garbin and

Elizaldy Co, meanwhile, filed House Bill 553 that declares Nov. 23 of every year as Philippines Press Freedom Day. Mangudadatu on Thursday vowed to pursue the murder case against Sajid Ampatuan, incumbent mayor of Shariff Saydona Mustapha, who was acquitted of multiple murder charges by the Quezon City Regional Trial Court. Mangudadatu said his lawyers will study the decision rendered by Reyes, which cleared Ampatuan of criminal liability. Mangudadatu noted that Sajid, son of Ampatuan patriarch Andal Sr, was granted bail in 2015 before witnesses linking him to the slaughter came forward. “Before he was granted bail, his case was not that heavy. It gained weight with the arrival of the statements of other witnesses. We will find a remedy for that,” he said. Complying with Reyes’s order, the Philippine National Police said it will launch a massiv manhunt for the 80 at large co-accused in the Maguindanao massacre. Justice Secretary Menardo Guevarra on Thursday welcomed the verdict, saying that “finally, justice has been served.” Senator Grace Poe said justice finally came to the families of the victims of the Maguindanao massacre. “We hail the court for siding with truth. We salute the prosecution team and the witnesses for their unwavering courage. We stand with the families of the victims and support groups for their fortitude,” she said. With MJ Blancaflor, PNA

He was accused of abuse of power for his effort to withhold taxpayer money from Ukraine and get that country to investigate his political rival, former Vice President Joe Biden, and obstruction of Congress for his refusal to cooperate with the oversight investigation. Trump sent a six-page letter Tuesday to House Speaker Nancy Pelosi, calling Congress’ impeachment inquiry a partisan “crusade,” an “unprecedented and unconstitutional abuse of power” and a “spiteful” “election-nulliﬁcation scheme.” Trump will now stand trial in the Senate, where his Republicans hold a solid majority and are expected to exonerate him. The House vote came four months after a whistleblower blew open the scandal of Trump pressuring Ukraine’s president to investigate his potential White House challenger in 2020, the veteran Democrat Joe Biden. After a marathon 10-hour debate, lawmak-

ers also voted 229-198 to approve the second article of impeachment facing Trump—for obstructing the congressional probe into his Ukraine dealings. Trump spent the ﬁrst part of the day holed up at the White House, tweeting in frustration, but on Wednesday night the president was on friendlier territory. In an extraordinary split screen moment, as the House was casting votes to impeach him, thousands of Trump’s most fervent supporters were cheering him at a rally in Michigan where he railed against a “radical left” he said was “consumed with hatred.” “The Democrats are declaring their deep hatred and disdain for the American voter,” Trump said to boos and cheers. “They’ve been trying to impeach me from day one. They’ve been trying to impeach me from before I ran,” he said. “Four more years, four more years,” the crowd chanted back.

Despite testimony from 17 officials that Trump leveraged his office for political gain, the president maintained his innocence throughout the impeachment inquiry—denouncing it as an “attempted coup” and an “assault on America.” ‘Threat to national security’ White House spokeswoman Stephanie Grisham blasted the House vote as “one of the most shameful political episodes in the history of our nation,” saying Trump “is prepared for the next steps and confident that he will be fully exonerated. Neither of the two previous presidents impeached since 1789, Andrew Johnson in 1868 and Bill Clinton in 1998, was convicted in the Senate, and both held onto their jobs. But despite the high likelihood of Trump being cleared by Senate Republicans, Democrats said that overwhelming evidence had forced the House to act. AFP, MJ Blancaflor

ALACAÑANG said Thursday the 2022 national election is far from President Rodrigo Duterte’s mind, but it did not rule out the possibility he might seek another government post.

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were judged guilty were Anwar Ampatuan Sr., Anwar “Ipi” Ampatuan Jr., and Anwar Sajid “Ulo” Ampatuan. They were all sentenced to reclusion perpetua—or 20 to 40 years in jail for each count—without parole. Akmad “Tato” and Sajid Islam Ampatuan were acquitted, however—and the death of a 58th victim, photojournalist Reynaldo Momay, was not included as his body has not yet been found 10 years after the massacre. Judge Jocelyn Solis-Reyes of Branch 221 of the Quezon City regional trial court decided to have only the dispositive part of the 761-page decision read during the longawaited promulgation of the verdict. Solis-Reyes said her decision was only partial since there are still about 80 suspects still at large. Reyes ordered the immediate transfer of the Ampatuan brothers from Camp Bagong Diwa, Bicutan, Taguig City to the New Bilibid Prison in Muntinlupa City. The two were escorted by heavily armed police ofﬁcers and a helicopter on their way to the prison. Lawyer Harry Roque said the prosecution will appeal the decision of the court to list only 57 counts of murder, excluding the case of Momay, whose heirs will not be eligible for any form of civil damages. “We are happy with the decision but we are sad for (Reynaldo) Momay. How can it be that his false teeth was recovered from the massacre site, yet he is not included in the list of victims?” Roque said. Roque said they will also study why Akmad and Sajid Islam Ampatuan were acquitted. Nonoy Espina, chairman of the National Union of Journalists of the Philippines, described the decision as a triumph for justice. “Although this is a partial decision, and even if we see that some of the suspects who were acquitted have blood on their hands, we will leave it up to the wisdom of Judge Solis-Reyes. This is not the end because there are still legal recourses available (to the convicted murderers) so we need to remain vigilant in monitoring this,” Espina said in a radio interview. Human Rights Watch Deputy Asia Direc-

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think (should be convicted) or what is the justiﬁcation why they were acquitted. Then and only then would we make a decision really how many we would be moving for reconsideration. Just give us a little time to browse over the decision because it’s a bit long,” Fadullon said. “It is important to emphasize that the role of the prosecutor is not to make sure that everybody who is charged is convicted but make sure that justice is done. And I think to that extent, the prosecution panel has done its job to make sure that justice is served,” he said. While they cannot appeal the acquittals of more than 50 accused as this would be double jeopardy, the senior swtate prosecutor said they can ask the court to review its decision through certiorari within 60 days. City Prosecutor Amor Robles, who led the 10-man prosecution panel, said the decision was worth the 10-year wait. “I think there were several prosecution panels created to handle this case from day one to today, and we can safely say that our prosecution evidence is intact, solid and whatever the outcome I think justice was really, actually served.” The prosecutoprs also thanked Reyes for her dedication and commitment, enduring all the 10 years of the trial. Other members of the prosecution panel

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In Manila, Malacañang distanced itself from the decision to impeach Trump. “In the same way that we react on any intrusion into the processes of our government, we’d rather not make any comment on that,” Presidential Spokesman Salvador Panelo said. “Other than saying that in the same way that impeachment in this country is decided on the basis of party afﬁliations, maybe they are just like that,” he added. The US House of Representatives on Wednesday impeached President Trump on both articles of impeachment: abuse of power and obstruction of Congress. This came after testimonies related to his dealings with Ukraine surfaced.

Francisco ‘‘Isko” Domagoso with 7.8 percent, Senator Manny Pacquiao with 5.5 percent, Speaker Alan Peter Cayetano with 4.6 percent, and Senator Christopher Go with 4.5 percent. For the vice presidential race, the older Duterte emerged as the top candidate among 21 potential candidates with 11.6 percent. His daughter came second with 11.5 percent. Domagoso followed with 9.85 percent, Poe with 9.05 percent, Cayetano with 8.85 percent and Pacquiao with 7.25 percent. The independent and non-commissioned survey was conducted from Nov. 15 to 19 and had a margin of error of +/2.19 percent across the entire survey population, and +/- 3.1% within the Visayas and Mindanao clusters.

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Du30 wants to revisit 1997 water agreement

3 killed in shootout with troops in QC

By MJ Blancaflor

By Francisco Tuyay TWO top-ranking members of the Communist Party of the Philippines and a still unidentified suspected cohort were killed during a shootout with security forces in a law enforcement operation in Novaliches, Quezon City Thursday. Col. Ramon Zagala, spokesman of the Philippine Army identified the two CPP-NPA leaders as Eleuterio Sadyaw Agmaliw, alias Omeng, and Freddie Daileg, both operating at the hinterlands of Sierra Madre. Zagala said Agmaliw was the commander of the Kilusang Larangan Guerilla Sierra Madre, while Daileg was the Deputy Secretary of Larangan Guerilla Platun 1 of the Central Luzon Regional Committee. Zagala said the two ranking communist leaders were killed as they challenged police and military personnel during the service of warrants for their arrest. Both CPP-NPA leaders were facing destructive arson; murder and frustrated murder and rebellion. “During the apprehension, however, the suspects fired at the arresting officers and a gunfight ensued for four minutes,” Zagala said in a statement. During the exchange of fire, a still unidentified person was also killed while two police officers were wounded. Recovered from the scene were an M16 rifle, a cal. 38 revolver, two hand grenades, improvised explosive device components, cell phones, a laptop, and subversive documents. “This accomplishment is largely attributed to our efforts of capacitating our forces for greater mission effectiveness and excellent performance,” said Army chief Lt. Gen. Gilbert Gapay. “We assure the public that capacitating our forces is a continuous effort, and coupled with the support of our people we will be able to accomplish more in the pursuit of lasting peace,” Gapay added.

FRIDAY, DECEMBER 20, 2019 mst.daydesk@gmail.com

CHRISTMAS BREAK. House Majority Leader and Leyte Rep. Martin Romualdez with 2nd District of Taguig Rep. Maria Laarni Cayetano (center) as well as the Deputy Speakers, Deputy Majority Leaders, members of House Minority and Makabayan Bloc in a groupie during the end of the last session of Congress for 2019 Wednesday night at the plenary of the House of Representatives. Congress will resume its session on Jan. 20. Ver Noveno

Davao Sur earthquake toll: 11 dead, 195 hurt T HE number of persons killed in the magnitude 6.9 earthquake that thumped Matanao, Davao del Sur on Sunday is now at 11, the National Disaster Risk Reduction and Management Council said Thursday.

In its 6 a.m. update, the NDRRMC said 195 others were injured while one was missing. The report, signed and released by NDRRMC executive director Ricardo Jalad, said the dead and injured were from Davao Region and Soccsksargen. The number of affected families is placed at 29,592 which is equivalent to 121,221 persons residing in 105 barangays in Davao Region. Of these, a total 3,076 families or 14,993 persons are taking temporary shelter in 24 evacuation centers while 4,379 families or 18,051 individuals are being aided outside. Also, 290 schools were partially damaged by the earthquake in Davao Region and Soccsksargen. In Digos City, Science and Technology Undersecretary

Malacañang not bothered by drug war papers THE Palace on Thursday said it was not bothered that a National Geographic documentary on President Rodrigo Duterte’s antidrug campaign had been shortlisted for the Academy Awards. The documentary dubbed as The Nightcrawlers features Filipino journalists embarking on a mission to “expose the true cost of the violent campaign,” according to the synopsis. Through covering both sides of the conflict, the documentary reveals a harrowing twist behind President Duterte’s “deadly crusade,” the synopsis read. Presidential Spokesman Salvador Panelo played down the documentary, noting that the government had produced its own film on the government’s anti-narcotics crackdown. “I think the judgment on a particular movie or film is based on certain criteria—not necessarily the truth,” Panelo said. “It’s an independent body of international experts on cinematic film. So, we’d rather not—it’s not our turf,” he added. Produced by Oscars winner Joanna Natasegara, the documentary has been shortlisted alongside nine others from Netflix, the New York Times Op-Docs and MTV Documentary Films. The documentary premiered in the US in September 2019 and is helmed by first-time director Alexander Mora. The final list of nominees for the Oscars will be announced on Jan. 13 next year. Last week, the Presidential Communications Operations Office also launched a docufilm titled Gramo which features the accomplishments and challenges of Duterte’s anti-drug campaign, in a bid to address “inaccurate narratives” and fight the “negative press.” It aims to show the “real stories of victims on the ground, transformation of former drug users, law enforcement operations and the crackdown of rogue cops,” according to PCOO Secretary Martin Andanar. MJ Blancaflor

Brewing Xmas storm creeps closer A LOW pressure area or potential storm in the vast Pacific Ocean is moving closer to the Philippines and could bring rains on Christmas day, the state weather bureau said Thursday. The weather disturbance spotted 2,000 kilometers off Mindanao might intensify into the country’s 21st storm this year and enter the Philippine area of responsibility before Christmas Eve on Tuesday, said PAGASA weather forecaster Shiela Reyes. Meanwhile, another LPA located 1,020 kilometers east of Mindanao is unlikely to strengthen into a storm—at least for now —but it can bring heavy rains that can spawn potential floods and landslides in the southern and central Philippines, said Reyes. Christmas storm “Usman,” one of the deadliest tropical cyclones of 2018, left 156 dead and damaged some 32,000 houses in parts of Luzon and Visayas, according to the disaster agency. On Thursday, the easterlies or warm winds from the Pacific will bring isolated thunderstorms in Eastern Visayas and Caraga, and partly cloudy to cloudy skies over Metro Manila and the rest of Luzon, said the weather bureau.

Renato Solidum had shot down speculations that the strong earthquakes that have hit North Cotabato and Davao del Sur were possibly human-induced. Although he did not refer to any human activity, social media websites, particularly Facebook, had been rife with suspicions that the quakes, including the magnitude 6.9 tremor that hit Padada town on Dec. 15 were possibly manmade. Social media users have been sharing links to online articles about the High-Frequency Active Auroral Research Program (H.A.A.R.P), which is an ionospheric research program jointly funded by various US agencies and was started in 1993. Some articles, mainly from obscure websites, claimed that the H.A.A.R.P can generate strong earthquakes that could devastate areas the US would target. However, Solidum, also the ofﬁcer in charge of the Philippine Institute of Volcanology and Seismology, said during an interview with reporters at the ofﬁce of Mayor Josef Cagas that there was no known man-made activity that can generate such powerful quakes as the ones that hit the province and nearby North Cotabato. “Why? The origins of the quakes are three kilometers below ground or more. There is no human activity that can reach that deep,” he added. Joel Zurbano with PNA

PRESIDENT Rodrigo Duterte would not step out from the presidency without resolving the onerous provisions in the 1997 water concession agreement, Malacañang said Thursday. Presidential Spokesman Salvador Panelo said the President, during their discussion Wednesday night, renewed his desire to talk with those who were involved in the crafting of the deal. “Last night, he repeated that he still wants to talk with lawyers of the government, private lawyers. ‘I still want to hear why they allowed this kind of treason,’” Panelo told reporters. The President would make an announcement on Jan. 6 next year on the matter, according to Panelo. Sought for details, Panelo said he would not want to preempt the President. “You can be assured that the stand of the President remains unchanged; I will not preempt the President,” he said. President Duterte has repeatedly lambasted the two water ﬁrms over “onerous provisions” in the 1997 water concession agreement which he said were unfair to the government and Filipino consumers. The contract carries a provision that says the government should pay the water concessionaires for their losses that result from the actions of the state regulator during the effectivity of contract. The government also cannot interfere with water rates, as stated in the agreement. These provisions allowed the two companies to take the Philippine government to a Singapore-based arbitral tribunal which ruled that the state had to pay Maynilad P3.4 billion and Manila Water P7.4 billion for their respective losses. On Dec. 10, the two ﬁrms sent a letter to Duterte, stating that they agreed to revisit and amend the provisions which earned the ire of the Chief Executive. The letters were signed by business tycoons Manuel Pangilinan and Fernando Zobel de Ayala.

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The economic outlook HERE is the joint statement of the economic managers on the country’s economic outlook: We, the members of the Development Budget Coordination Committee (DBCC), held a meeting to revisit the macroeconomic assumptions and medium-term fiscal and growth targets of the government. This is in light of recent developments, both domestic and external, as well as in preparation for the proposed 2021 National Expenditure Program. The average inflation rate for 2019 is projected to settle at 2.4 percent, indicating relatively stable prices for Filipino consumers, while the assumed average rates for 2020 to 2022 will remain between 2 percent to 4 percent throughout. In addition, the assumption for the dollar price of Dubai crude oil per barrel has been adjusted downwards in the medium-term. For 2019, the projected range has been narrowed to the range of $63.00 to $64.00 per barrel. From 2020 to 2022, the price range is now projected to average between $55 to $70 per barrel. Furthermore, the peso-dollar exchange rate assumption is revised downward to the range of P51 to P52 against the dollar in 2019 and from P51 to P54 against the dollar from 2020 to 2022. Likewise, the assumptions for the 364-day Treasury bill rate and the six-month London Interbank Offered Rate have been adjusted downward. The average T-bill rate will range from 5.1 percent to 5.3 percent in 2019 and 3.5 percent to 4.5 percent in 2020 until 2022. On the other hand, the six-month LIBOR will range

Adelle Chua, Editor

EDITORIAL

from 2.3 percent to 2.4 percent in 2019, and from 1.5 percent to 2.5 percent from 2020 to 2022. The assumption for goods export growth is revised downward in the short term to 1 percent for 2019 and 4 percent in 2020 due to continuing unresolved trade tensions. However, the assumptions for 2021 and 2022 are retained at 6 percent as global economic activity is expected to recover in the medium-term. Assumptions in services exports growth were maintained at 9 percent from 2019 to 2022. The services imports growth projection for 2019 was adjusted downward to 2 percent in 2019, and fixed at 4 percent in 2020 and 5 percent in 2021 and 2022.

Listen to our economic managers. Revenue collections are projected to reach P3.15 trillion in 2019, equivalent to 16.8 percent of Gross Domestic Product. Meanwhile, disbursements are targeted to hit P3.76 trillion in 2019, which is equivalent to 20 percent of GDP. For 2020, revenues are projected to increase to P3.49 trillion, equivalent to 16.6 of GDP, while disbursements are programmed at P4.16 trillion or 19.8 of GDP. Revenue and disbursement projections are estimated to rise to P4.31 trillion (17.0 of GDP) and P5.12 trillion (20.2 of GDP), respectively, by 2022. The comprehensive tax reform program can help ensure a reliable revenue base and, more importantly, enhance the modernization of our economy. Quickly completing the passage of the remaining tranches of the tax reform will ensure a steady revenue

Modernizing agriculture

HE government is finally devoting its time to modernize the country's agriculture sector. Agriculture is probably one of the major underperforming sectors of the economy despite employing 23.5 percent of the country's population. It has lagged behind its Asian neighbors, notably Vietnam and Thailand whose fruit orchards and aqua-culture farms are major exporters to the region. The Philippine Economic Zone Authority and the Department of Agriculture early this week signed an agreement that will commit the two to facilitate the creation of agro-industrial and aquamarine economic zones in the Philippines. This agreement will hopefully herald the mod-

ernization of the agriculture sector and offer farmers an option to diversify crop production and reduce their dependence on rice farming. Agriculture Secretary William Dar stressed the importance of “promoting and supporting investments to agricultural-oriented activities through the granting of fiscal and non-fiscal incentives and development of agro-industrial, aquamarine, and agro-forestry special ecozones.” Finance Secretary Carlos Dominguez III, meanwhile, egged the private sector “to think out of the box” and come up with bold ideas to help the government reinvigorate the agriculture sector. A Canadian company is thinking like that. It signed an agreement with PEZA to establish an initial 50-hectare agro-industrial zone devoted solely for cacao produc-

tion and exports. It is not too late for the Philippines to emulate Thailand's success in producing export quality fruits and the achievements of Vietnam in aqua farming that boosted the incomes of many farmers. The Rice Tariffication Law should start the modernization of agriculture in the Philippines. It established an annual P10-billion Rice Competitiveness Enhancement Fund aimed at boosting rice productivity by providing farmers with modern farm machinery and equipment, high-yield seeds, low-interest and accessible credit and skills training programs on farm mechanization and modern farming techniques. Modernizing the agriculture sector is the fastest way to reduce the poverty incidence in the Philippines.

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A triumph of justice THE court verdict finding members of the Ampatuan clan guilty of multiple murder for the Nov. 23, 2009 Maguindanao massacre is a triumph of justice in this country, even if it took a decade to reach. The delay in the dispensation of justice in this particular case is not surprising, maybe it is even excusable, because of the big number of the accused: 197 of them, with 80 still at large. But the accused who were meted the maximum penalty of life imprisonment truly deserve the sentence considering the gravity of their offense.

We should exert every effort to see to it that the Maguindanao carnage does not happen again. We therefore commend Quezon City Regional Trial Court Branch 221 Judge Jocelyn Solis-Reyes for taking on the case—at least one other judge had declined to handle it—and wading through testimonies of witnesses for both the prosecution and the defense in the course of 10 long years. Rep. Esmael Mangudadatu, who lost his wife, sisters, cousin and aunt in the killings, is correct in saying that the court verdict would serve as "an important precedent" for the justice system and democracy in the country. Media groups have called the Maguindanao massacre the worst case of political violence in the country. But there were other similar incidents in the past, though not on this scale. Lawyer Nena Santos

who represented some of the families of the victims in the massacre, noted that "there were already so many killings in Maguindanao allegedly perpetrated by the [Ampatuan] clan [but] many people who were victims were afraid to go and file a case because of the fear of how powerful the clan was." The lawyer added: "The brazenness is there because they thought they controlled the police, the military [and] the political arena there in Maguindanao. And they were close to [President] Gloria Macapagal Arroyo, so that emboldened them to [carry out] this heinous crime." UP professor Francisco Lara Jr. pointed out in a trenchant analysis years back that the Maguindanao massacre “signifies the emergence of a new type of warlord whose powers depend on control of a vast illegal and shadow economy, and an ever-growing slice of internal revenue allotments…Political authority may enable control over the formal economy, but the bigger prize is the power to monopolize or to extort money from those engaged in the lucrative business of illegal drugs, gambling, kidnap-for-ransom, gun-running, and smuggling, among others… These illegal economies and a small formal sector comprise the ‘real’ economy of Muslim Mindanao.” The Maguindanao massacre raised the bar on just how far political warlordism can go, in particularly gruesome fashion. If 58 people can be killed because one political clan did not want another to even challenge its dominance, then we have an untenable situation that will be a litmus test of government’s resolve to restore peace in Mindanao. At the height of their power, the Ampatuan clan is said to have built a private army consisting of 2,500 men equipped with sophisticated weaponry that wielded effective control over some municipalities. The discovery Turn to A5

Political coverage row threatens BBC funding By Charlotte Durand BRITAIN’S new government is taking aim at the BBC, accusing it of bias in reporting the recently concluded elections that gave Prime Minister Boris Johnson a sweeping mandate. The row over perceived partiality from the corporation and ensuing threats about its licence fee funding have erupted before but this time come against a backdrop of tensions about Brexit. The issue is likely to dominate the brief of newly-reappointed culture minister Nicky Morgan in the runup to talks in 2022 about whether to maintain the licence at current levels. Morgan has said she would be "open-minded" about scrapping the licence and replacing it with a Netflix-style subscription service. The government has previously committed to maintain the licence fee model until 2027. A standard licence costs each British household just over

£154 ($202, 182 euros) a year. But junior finance minister Rishi Sunak suggested non-payment could now be decriminalised. "That is something the prime minister has said we will look at, and has instructed people to look at that," he said on Sunday. Interview no-show In the last financial year to April 30, the BBC received £3.7 billion in funding from the licence fee—an enviable revenue stream in tough economic times for media companies. That makes it open to criticism, particularly from commercial rivals as advertising revenues fall, and viewing habits and news consumption change to streaming and social media. A largely right-wing print media, meanwhile, sees the giant corporation as an unapologetic bastion of the liberal, metropolitan—and largely pro-EU—elite.

Anger and frustration at the failure to implement Brexit—particularly outside London—has only made the situation more acute. Johnson's electoral success largely came on the back of populist sloganeering to "Get Brexit Done" but he also faced criticism that he was unwilling to face close scrutiny over his policies. His ruling Conservative party were incensed when one of the BBC's top political interviewers, Andrew Neil, publicly berated the premier on air for refusing to speak to him. The Tories were also angry at the broadcaster's reporting of a story from the main opposition Labour-supporting Mirror about a young boy sleeping on the floor of a hospital. The government has not denied reports it has since stopped senior ministers from appearing on BBC radio's flagship "Today" show, which often sets the day's political agenda. To some extent, the row is the most

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Opinion Meth boom worsens Afghanistan’s opium and heroin woes By Usman Sharifi AT A sprawling rehabilitation center on the outskirts of Kabul, dozens of dazed-looking drug addicts clamber out of police buses and shuffle toward the facility. The men, arrested on the streets of the Afghan capital, have been sent to a compulsory detox program established to tackle an explosion in the use and production of highly addictive methamphetamine. Almost unheard of in Afghanistan until a few years ago, meth's sudden appearance has blindsided authorities in a country already suffering from a crisis in opium and heroin addiction. "My life has been ruined by addiction," said 25-year-old Sulaiman, one of the 40 or so men arriving at the treatment center. The physical impact of the drug— known locally as "shisha," or glass —is evident: Sulaiman's sunken eyes and hollow cheeks paint a picture of meth addiction familiar in many Western nations. He says he got hooked while living in Iran several years ago. "I would do whatever it takes to get the drug, from laboring to stealing," he added. Sulaiman and other patients at Ibn Sina, Afghanistan's largest addiction treatment facility, must undergo 45 days of mandatory rehab. Located on the site of a former military base, Ibn Sina currently houses around 900 men. Smaller facilities elsewhere are available for women. Until 2017, it was filled mainly with opiate addicts, said Abdul Jabar Jalili, Ibn Sina's chief physician and counsellor. "Today, around 70 percent of patients here are addicted to meth," he told AFP, pointing to a group of addicts ambling around a sun-filled yard in the vast compound. Statistics are bleak, with many of the patients addicted to both meth and opiates. Afghan health officials say more than 80 percent of the patients will relapse. Naqibullah, another addict, started using the synthetic stimulant two years ago when his sister was killed in a Taliban bombing and a villager offered him a "non-addictive" drug to ease his grief. "Initially... I liked it," the 34-yearold said. "But then came the dark side, and I started to go mad, becoming violent and attacking members of my family." Overtaking opium? Data from 2015—when the last comprehensive national survey was carried out—showed Afghanistan had about three million drug addicts, a huge proportion of the country's estimated 37-million people. Experts say the number has only risen, and health officials estimate the proportion of addicts using meth could be as high as about 40 percent. But just a few years ago, meth was practically non-existent.

A triumph... From A4

of a huge arms cache believed owned by the Ampatuan clan and enough to equip two army battalions showed very clearly the extent of political warlordism in the province. The Ampatuans managed to build a sizeable private army consisting of members of paramilitary units— paid out of government funds, by the way—and they accumulated a vast arsenal of weapons—again, courtesy of the government, as these were clearly marked as having come from the armed forces and the national police. The nation rightly expressed outrage over the Maguindanao massacre and did not stop in demanding justice for the 58 victims. But if the government hopes to put an end to the violence in Muslim Mindanao, it should not only dismantle the private armies of political warlords, but also address

The first meth seizure was reported in southern Helmand province in 2008—a meagre amount of a few grams, according to Afghan counter-narcotic officials. In the first 10 months of 2019, a massive 935 kilos had been seized, said Kabir Ibrahimkhail, a senior counter-narcotics officer. "At the rate it is increasing, it will not be a surprise if it soon replaces opium in Afghanistan," he told AFP. That would be hugely significant in a country that grows roughly 90 percent of the world's illicit opium, and raises the question of whether Afghan meth could end up following the same international trafficking routes. There is no data available on how much is exported currently. In the past two years several shipments have been intercepted heading to Iran, India and Saudi Arabia, according to Khaled Mowahed, spokesman for Afghanistan's Counter Narcotic Justice Centre. Before 2015, Afghan production was scarce, with most of the drug believed to have come from neighboring Iran, where pseudoephedrine, an ingredient found in cold medicine, is used as a precursor to cook meth. But manufacturers have found they can use a local mountain shrub known as "Oman." Afghan officials only realised what locals were doing with this type of ephedra plant in 2017, when security forces stopped a bus carrying 1,400 kilogrammes of Oman in Farah province. Taliban involvement Abdul Shukoor Haidari, deputy head of Afghanistan's Drug Demand Reduction Programme, said meth dealers use persuasive tactics to spread its use. "They say meth is not addictive and can help beat your opiate addiction. Then they lower prices and in some cases stop distributing heroin, so addicts are forced to turn to meth," Haidari said. The Taliban, who long used opium to fund their insurgency, have also moved into the burgeoning market. "In the areas they control, the Taliban charge a tax on each kilo of meth produce," said Jasmine Bhatia, a research fellow at the University of London's School of Oriental and African Studies. The US military in 2017 began targeting drug-making laboratories in Taliban areas. Last May, US air strikes hit meth-producing labs in Farah province, though a UN report later said at least 30 civilians were also killed in the raid. The US insisted the meth labs were run and owned by the Taliban. Back at the Ibn Sina treatment centre in Kabul, officials say the country is ill prepared to deal with meth. "We will have to work harder to save our people," said Ibn Sina director Zalmai Naurozi. AFP

the problem of poverty. Maguindanao is the second-poorest province in the country, with 60.4 percent of families living below the poverty level, surpassed only by Zamboanga del Norte with 64.6 percent. The ranking is based on various government poverty indicators, including the lack of housing, lack of access to clean water and sanitation facilities, incidence of malnutrition, and income level, among others. The Maguindanao massacre tells us very clearly that the road to peace in Mindanao as a whole is strewn with many obstacles. The gruesome killings underscore the perversion that seems to be the hallmark of Maguindanao politics. If we thought we had seen the worst political violence, the Maguindanao carnage certainly surpasses them all—and should remind us that we should exert every effort to see to it that it does not happen again. ernhil@yahoo.com

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Coming home CROSSROADS JONATHAN DE LA CRUZ IT'S Christmas and it's the “coming home” time of the year in this majority Christian country in ASEAN. Families are coming around together with members far and wide making their way to reunions and the traditional Christmas Eve dinner. Or, in a number of occasions, the Christmas day lunch specially if some members are coming from overseas. Batchmates even from pre-school or kindergarten days are also having their own gatherings, boosting restaurant sales and cornering events places no end. Indeed, all kinds of gatherings for all kinds of remembrances are giving people from all walks of life the excuse to call friends and relatives to bonding sessions. At this time, immediately after our athletes' solid performance in the just-concluded Southeast Asian Games, is also a coming home of sorts. It is getting around to appreciate the hard work and sacrifices they, their trainers and coaches took to get this far. And what an awesome achievement it really was. For the first time in any international sporting event we took in a total of 367 medals—almost double that of second-running Indonesia—with 149 golds, 117 silvers and 123 bronzes. Not only did we get such a huge haul, our athletes also broke records in a number of events putting the record breakers into the ranks of qualifiers or would be qualifiers to next year's Tokyo Olympics. True grit and truly masterful for "love of the game and of country" as pole vaulter E. J. Obiena said after clearing the bar at 5.45 meters which was good for gold and a new record. And that was not even Obiena's personal best. Reports have it that in an event in Europe where he is training he cleared 5.81 meters just a few centimeters shy of the 6.03 gold medal

The economic... From A4

flow and equitable sharing for the government’s social and infrastructure programs while securing fiscal stability long into the future. The speedy passage of the Corporate Income Tax and Incentives Rationalization Act will help attract additional investment into the country and the alcohol and e-cigarette excise tax adjustments will substantially bridge the funding gap for the Universal Health Care program. Given the revenue and disbursement program adopted by the DBCC, the deficit target will be maintained at 3.2 percent of GDP from 2019 to 2022 to sustain the government’s investments in infrastructure and human capital development. Accounting for the aforementioned factors, the GDP growth target is projected at 6 percent to 6.5 percent in 2019 and 6.5 percent to 7.5 percent in

Political... From A4

recent example of the government of the day trying to control its media image. But Ivor Gaber, professor of political journalism at the University of Sussex, said the threats were also "revenge" for Neil's personal attack on Johnson and the hospital scandal. Breakdown in trust? Jean Seaton, professor of media history at the University of Westminster and the BBC's official historian, said similar criticism from Labour made the situation more dangerous. "That's what's unusual," she told AFP, describing the face-off as an "information war." Andy McDonald, a lawmaker close to Labor leader Jeremy Corbyn, has claimed the BBC's political coverage

finish of Brazilian Thiago da Silva in the Beijing Olympics. Reports have it that even as he broke the games' record, Obiena and his coach, Ukrainian Vitaly Petrov, expressed disappointment with the result that they both flew back to Italy right after his leap. He never got a chance to stand on the platform, get his medal and have the national anthem played before an obviously highly appreciative crowd. In fact, he never got a chance to get to meet with the President for another medal and prize giving in Malacañang as he had to immediately start training again in Forma, Italy where Petrov presently lives in preparation for next year's Olympics.

It’s the season to get together with friends and family. Our other gold medalists are surf back to the grind as well. Our surfers, including gold medalist Roger Casugay who was hailed as a hero by the organizers when he abandoned his quest for gold to rescue an Indonesian surfer being swept by the waves while the competition was ongoing, are as raring to train as Obiena noting that surfing will make its Olympic debut in the Tokyo Olympics. Casugay's heroism and eventual gold medal finish is one for the books. But that will be another story. Meantime, Casugay and fellow gold medalist Nilbie Blancada together with six other surfers who got silvers and bronzes are back in training. As United Philippine Surfers Association president Dr. George Canlas said while the closing ceremonies were ongoing the goal was to qualify at least one surfer in the Olympics. From the looks of it, if the dedication shown by Casugay and his fellow surfers is any guide we will surely have a good fighting chance against the

best surfers i the world come the Tokyo Olympics. Which brings us to another coming home kind of thing. With the recognition accorded by the participating foreign delegations on the manner by which the organizing committee conducted the games we have somehow arrived. That recognition was our coming home of sorts after getting all the brickbats even before the games started on the "...haphazard, unplanned and very expensive construction and supply arrangements made.." for its staging. Well, after smarting from that initial barrage of criticisms from various quarters including such teeny, weeny bits of trivia which went viral (..kikiam for ser breakfast, late or no transport serac vices provided, messing of hotel accommodation, etc. etc..) most if not all of which turned out to be either fake (the food issue was debunked by the Singapore delegation) or half truths as the arrangements turned out to be worked out well. con For a while there, we were concerned that our sports officials would be more interested in protecting their respective turfs and interests rather than promoting a dedicated, national sports development program. Rather than improve our facilities and get our athletes all the best possible support we can afford to provide, we were concerned that our officials will instead engage in endless debates and skirmishes over their hold on the sports associations. In fact, no less than all star volleyball player Alyssa Valdez sounded the warning bell when, after the volleybelles played their hearts out in close contests against their more seasoned rivals, she sadly noted that perhaps it was time for the warring volleyball groups to come around and be one. To, in effect, come home and do the sports and for that matter the country, some good. Out of their egos and their power plays and on with the real sports development program. For our country and people. Oo nga naman. For once.

2020 to 2022. Consistent with the macroeconomic assumptions and foregoing fiscal targets, the FY 2021 cash budget is pegged at P4.640 trillion. The proposed P4.640 trillion cash budget for FY 2021 is higher by P540 billion or 13.3 than the P4.100 trillion cash budget for FY 2020 and is equivalent to 20.2 of GDP. The proposed 2021 National Budget will continue to support anti-poverty and peace-sustaining measures through funding of recently-approved legislative measures. In line with this, there will be continued funding for the following priority social protection and economic programs: • Universal Health Care Program • Pantawid Pamilyang Pilipino Program • Rice Tariffication Law • Provision for the Annual Block Grant, Special Development Fund, and Share in National Taxes of the Bangsamoro Autonomous Region in

Muslim Mindanao (BARMM) • Universal Access to Quality Tertiary Education • Refocusing of National Government assistance to LGUs with high poverty incidence • Climate change mitigation and adaptation measures The DBCC also approved the creation of the Subcommittee on Sustainable Development Goals (SDG) to review and recommend to the DBCC SDG-related policies and programs. We are committed to building a more effective and competitive economy, one that will provide good jobs to our workers, improve the living conditions of the poor, and create more opportunities for all Filipinos. The DBCC is composed of the DBM’s acting Secretary Wendel Avisado, NEDA Secretary General Ernesto Pernia, Finance Secretary Carlos Dominguez, and BSP Governor Benjamin Diokno.

"played a part" in the party's crushing election defeat. Corbyn had been "demonized and vilified" during the campaign, and portrayed as a supporter of anti-Semitism, and as a terrorist sympathizer, he said. "We have a catalogue of complaints against our public service broadcaster, our precious BBC, which I'm afraid has been brought into the fray." Despite claims about a breakdown in trust in the national broadcaster, at least twice as many people watched the BBC on election night than their rivals, figures showed.

partiality in the spotlight." He blamed social media for offering "a megaphone to those who want to attack us and makes this pressure greater than ever. The conspiracy theories that abound are frustrating." Abuse of journalists had been "sickening", he said, calling on social media platforms to "do more" about the vitriol. Veteran news presenter Huw Edwards also weighed in, admitting some "honest mistakes" but accusing the BBC's most vocal critics of seeking to "undermine trust" and "cause chaos and confusion." "The BBC can never be good enough, and people will forever shout at the screen," added political commentator and ex-BBC staffer Polly Toynbee in the Guardian newspaper. "To be the only national arbiter of everything is an impossible burden. But recently it has become infinitely harder." AFP

National arbiter The corporation maintains that the licence fee, at £2.97 per week, is value for money, as it pays for all its TV, radio and online services. BBC chairman Tony Hall said in a post-election message to staff that elections "always put the BBC's im-

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Duterte signs EO advancing rights, welfare of Filipinos PRESIDENT Rodrigo Duterte has signed an executive order institutionalizing the government’s diversity and inclusion program to advance and protect the rights and welfare of all Filipinos. Under Executive Order 100 Duterte signed on Dec. 17, a Diversity and Inclusion Program was formed to serve as a national program “which shall consolidate efforts and implement existing laws, rules, and issuances against the discrimination of persons.” Recognizing the policy of diversion and inclusion, the order also aims to “cultivate a supportive, collaborative, and inclusive environment to maintain equal opportunities and to recognize the diverse and empowered thoughts and perspectives of all persons.” “The State values the dignity of every human person and guarantees full respect for human rights,” the order read. “To this end, taking into account that the equal protection of laws does not bar reasonable classification based on substantial distinctions, the State shall endeavor to advance and protect the rights and welfare of all Filipinos, regardless of age, disability, national or ethnic origin, language, religious affiliation or belief, political affiliation or belief, health status, physical features, or sexual orientation and gender identity and expression,” it added. The DIP will provide a framework for agencies to identify and eliminate all barriers to equal opportunities in education and the recruitment, hiring, training, promotion, and retention of personnel. It will include programs to ensure that all personnel are properly equipped with the ability to manage diversity, including the provision of robust orientation processes and relevant trainings. PNA

DOH e-claims system urged for QC hospital By Rio N. Araja QUEZON City Mayor Joy Belmonte has urged the Department of Health to allow the use of its free electronic medical records and e-claims systems for Rosario Maclang Bautista General Hospital to enable it to continue its operation in 2020. “Thousands of local residents will be deprived of needed medical assistance if Rosario Maclang Bautista General Hospital ceases to operate next year,” she said. “So we appeal to the kind heart of the DOH to allow us to utilize its free system so that our local hospital will be granted license to operate for 2020,” she added. In 2017, the Health department requested hospitals to have a fully functional electronic medical records from an accredited systems provider in order to be granted a license to operate. According to the city mayor, the hospital’s information system was awarded during the previous administration to Geodata Solutions Inc., a systems provider whose electronic medical records system is not yet accredited by the DOH for P16.295 million. Moreover, the Diana Hospital information system provided by Geodata Solutions Inc. seemed to be less than 40 percent operational based on evaluation by hospital staff, according to Dr. Richard Joseph Cabotage, director of Rosario Maclang Bautista General Hospital. He said that despite being past the supposed delivery date and fully paid since June, the previous city administrator signed an acceptance letter. He told Belmonte that the hospital was already negotiating with the DoH’s information technology group for the use of its e-claims and electronic medical records programs to hasten the renewal of the hospital’s permit to operate.

Du30 to spend Christmas with family in Davao City By MJ Blancaflor

AWARDEE. President Rodrigo Roa Duterte greets 2012 Gawad Manlilikha ng Bayan for Textile Awardee Magdalena Gamayo at the Malacañan Palace on December 18, 2019. With the President is his partner Cielito Avanceña. Presidential Photo

DA says ASF tapering off; clears Rodriguez, Rizal D EPARTMENT of Agriculture ofﬁcials said on Thursday that the African Swine Fever epidemic is tapering off in the country.

In particular, the DA said that the town of Rodriguez in Rizal has technically been cleared of the deadly disease. Agriculture Secretary William Dar that tests made in the last three months in Rodriguez, Rizal have yielded negative results. “The occurrence, the outbreak is now tapering down, it’s decreasing. So it’s a good pangitain na bumababa ‘yung occurrence ng outbreak,” Dar told told reporters in a press conference. Dar said the economic losses due to the ASF have been estimated at P1 billion a month since outbreaks were reported in August, or a total of P4 billion. “Ang estimate namin, kami na nag nag-estimate at nag-study, P1 billion. Ang report ay mid-August, so apat na buwan na,” he said.

Ombudsman dismisses Vitriolo for the second time

MALATE FIRE. A fifth alarm fire broke out at a residential area along Barangay

720, Zone 78, District V in Maginhawa Street, Leveriza in Malate, Manila on Thursday Dec. 19. Norman Cruz

Neophyte Benguet lawmaker Fongwan passes away, 68 By Maricel V. Cruz NEOPHYTE Rep. Nestor Fongwan of Benguet died Wednesday night. He was 68. The news was relayed by the congressman’s son, board member Nestor Fongwan Jr. Fongwan is the vice chairman of the Committees on Agrarian Reform and on Indigenous Cultural Communities and Indigenous People of the House of Representatives. His remains were to be brought to Guadayan, Puguis town on Thursday, according to his son. Fongwan served nine years as governor of the province from 2007 to 2016 before going on a hiatus from politics after his

“Four billion pesos, pero ang development nga bumababa na ‘yung outbreak. So nagpi-pick up na rin (‘yung containment measures). So tumataas na ‘yung confidence at negosyo ay bumabalik. Last August, hogs in the country were found positive of ASF. The DA confirmed and blamed the outbreak mainly on imports from China and the practice of swill feeding. According to a recent report by the World Organisation for Animal Health, 97 percent of the reported losses in Asia due to the ASF were recorded in the Philippines. The report covered the period Aug. 30 to Sept. 12. But Dar said that while Rodriguez, Rizal has been cleared, several areas in the country remain positive of ASF. “Wala kaming sinasabi na tapos na

ang ASF, contained na ang ASF. Let’s not make that a message, kasi andiyan. ‘Yung Rodriguez, wala na as per our monitoring. Klaro ‘yun,” he said. At present, Bulacan and Pampanga remain as infected zones. “Ito ‘yung red na red and can only send their pork products in other infected zones as well. Within those two provinces ‘yun lang ang movement,” Dar said. He added that Regions 3 and 4A are now categorized as surveillance zones; Regions 1, 2, and 5 are protected zones while Visayas, Mindanao, and MIMAROPA are ASF free zones. The government has approved the release of over P1 billion to help hog farmers affected by the ASF outbreaks. “While gusto natin bayaran agad ‘yung ki-null out natin ay wala pa sa amin ‘yung pera. So nakikiusap kami doon na konting tiis lang. Approved naman in general ‘yung budget. ‘Yung release naman ang hindi pa,” Dar said.

PRESIDENT Rodrigo Duterte will spend Christmas with his family in his hometown in Davao City, his spokesman said Thursday. “He said he will just be with his family, with his grandchildren, as he usually does,” Presidential Spokesman Salvador Panelo told reporters. “Isn’t it last time he did the same? You’ve seen photos of him playing with his grandkids,” Panelo added. Last year, Duterte spent the holiday season with sick children. Even before becoming President, Duterte has always celebrated the Yuletide season with his family and by visiting young cancer patients in his hometown, a tradition he has observed since he was mayor. Meanwhile, Duterte said that he almost fainted during the hour-long recognition rites of Filipino medalists in the 30th Southeast Asian Games. The President had conferred the Order of Lapu-Lapu Award with the Rank of Kamagi and distributed over P70million cash incentives to nearly 600 Filipino athletes in a ceremony held in Malacañang. “It took us long earlier. My leg is so tired. I just had a motorcycle mishap. But in front of athletes with grit, I would endure the pain,” he said. “I really thought I would faint. Son of a bitch,” Duterte quipped, drawing laughter from his audience. He also congratulated the Filipino athletes for bagging the overall championship in the SEA Games hosted by the Philippines. “Your triumph showcases the athleticism and sporting prowess of our people to our neighbors in Southeast Asia. This is really a big deal to me. Whenever we meet in the ASEAN, I will proudly tell them, ‘Your athletes are really weak,’” Duterte said in his speech. The Philippines topped the medal tally among all Southeast Asian countries with 149 golds, 117 silvers and 121 bronzes. “The blood, sweat and tears that you have shed to earn this prestigious recognition is truly inspiring,” the President said. Gold medalists received P300,000, as stated in Republic Act 10699. Those who bagged silver and bronze received P150,000 and P60,000, respectively.

term ended. He returned to politics by joining the congressional race last May, defeating unknown candidate Thorsson Keith. As congressman, Fongwan authored 21 bills, mostly proposals of local application. He was the principal author of House Bill 345 providing for simplified procedure in the disposition of public agricultural lands by amending section 24 of Commonwealth Act No. 141, otherwise known as the “Public Land Act.” Fongwan also filed HB 2952 proposing the termination of collection of toll fees along the portion of Benguet Road (Kennon Road) from Klondyke’s Spring to Camp Six.

FORMER Commission on Higher Education executive director Julito D. Vitriolo has been dismissed by the Ombudsman Monday, Dec. 16, due to conduct prejudicial to public interest. The Ombudsman approved the decision which finds Vitriolo liable for conduct prejudicial to the best interest of the service and simple misconduct, refusal to perform official duties/misconduct and violation of Section 4 of Republic Act 6713 (Code of Conduct and Ethical Standards for Public Officials and Employees). The dismissal was based on a case filed by former CHED chairperson Patricia Licuanan against Vitriolo in 2016 when Vitriolo called for the resignation of Licuanan. The Ombudsman said that in asking for the resignation of Licuanan and in inducing others to seek her replacement as CHED Chairperson, Vitriolo overstepped the bounds of propriety and ethical standards. His comportment tarnished the image of his office as he created an atmosphere of leadership impasse within CHED and sowed disunity.

Vitriolo was previously dismissed in December 2016 by former Ombudsman Conchita Morales on alleged irregularities at the Pamantasan ng Lungsod ng Maynila (PLM). The administrative liability of Vitriolo anent the charges hurled against him by Oliver Felix, former faculty member of Pamantasan ng Lungsod ng Maynila, has yet to be resolved by the SC. It is a live issue which is still pending determination in the separate pending case docketed as G.R. No. 237129 entitled “Oliver B. Felix v. Julito D. Vitriolo.” Despite the pendency of the case, the Ombudsman said that the dismissal order of is immediately executory and CHED should implement the order and dismiss Vitriolo anew from government service. Vitriolo was also ordered suspended for 3 months by Ombudsman Martires on Oct. 4, 2019 afer Vitriolo issued a memorandum recommending that CHEd issue a provisional permit in favor of a private school. The memorandum was in violation of CHEd’s en banc resolution, which earlier disapproved the said school’s application.

5-m Makati residents get free meds By Joel E. Zurbano MORE than half a million residents have benefited from the Free Medicines for the Masses program of the city government of Makati from January to October this year. Mayor Abigail Binay said some 572,357 residents got the free maintenance medicines, vitamins, pharmaceutical products and other health benefits from the program which is in line with the Makati Health Plus or Yellow Card project. This figure, she added, was 14.47 percent higher than last year’s number of patients during the same period, which was 499,986. “Medicines are important in addressing health problems and improving the quality of life of our people. Our free medicine program aims to reduce household expenditures of our dear Makatizens, especially those with family members who continuously take medications,” said Binay. The city chief executive said her administration

spent P936 million in the past 10 months for its drug subsidy program to help defray the cost of maintenance medicines and supplements of active Yellow Cardholders and their qualified dependents. These include Ospital ng Makati patients, city government employees, selected Makati-based national government personnel, and residents from the city’s 33 barangays. The city government paid P716 million for the medications of its beneficiaries from Jan. 1 to Oct. 31, 2018. City Health Department chief Dr. Bernard Sese said the program covers medicines and pharmaceutical products for hypertension, diabetes, cardiovascular diseases, dyslipidemia, enlarged prostate, gout, cough and colds, sexually transmitted infections, asthma, chronic obstructive pulmonary disease, seizure disorder, allergy, ulcer, vertigo, gastrointestinal problems, and other diseases. Free multivitamins are also given for free, as well as oral and injectable contraceptives. For this year, Sese said the top maintenance med-

icines in terms of sales were Metformin for those with diabetes; Losartan for those with hypertension; Rosuvastatin, Atorvastatin, and Trimetazidine for those with cardiovascular diseases. He said diabetes, hypertension, and cardiovascular diseases are common since these are related to the way a person lives. Regular physical activity and exercise can help prevent these noncommunicable or “lifestyle” diseases. Meanwhile, the top vitamins in terms of sales were Vitamin B Complex, Ferrous Sulfate, prenatal multivitamins and minerals, and Calcium plus Vitamin D. Under the program, senior citizens aged 70 and above receive the full dose of their monthly prescription of maintenance medicines and antibiotics. For August alone, the Makati Action Center has made door-to-door deliveries of medicines worth around P18 million to seniors who are above 70 years old and bed-ridden beneficiaries identified by the MHD.

News

Marcoses lose 146 paintings

12. Consequently, CASURECO I respectfully prays that it be allowed to implement the calculated DSM rates with Performance Incentive “S”, effective January 1, 2017 and up to December 31, 2019.

Republic of the Philippines ENERGY REGULATORY COMMISSION San Miguel Avenue, Pasig City

SUPPORTING DATA AND DOCUMENTS IN THE MATTER OF THE APPLICATION FOR APPROVAL OF ADJUSTMENT IN RATES BASED ON THE TARIFF GLIDE PATH ON THE FOURTH TO SIXTH REGULATORY YEARS OF THE FIRST REGULATORY PERIOD FOR THE FIRST ENTRANT GROUP UNDER THE TARIFF GLIDE PATH (TGP) RULES, WITH MOTION FOR PROVISIONAL AUTHORITY

13. In support of the foregoing computations, Applicant is submitting herewith the following documents, which are being made integral parts hereof, to wit:

ERC CASE NO. 2019-087 RC CAMARINES SUR I ELECTRIC COOPERATIVE, INC. (CASURECO I), Applicant. x---------------------------------------------------x

NOTICE OF PUBLIC HEARING

FTER losing ﬁve forfeiture cases in a row, the Presidential Commission on Good Government ﬁnally notched a win as the Sandiganbayan’s Special Division ordered the forfeiture from the Marcoses of more than 146 paintings by world-renowned artists estimated to be worth at least $20 million. “Simply stating that one ‘specifically denies’ an allegation does not make a general denial become specific. In the case of respondents, they failed to state and substantiate how they lawfully acquired the funds used to purchase the paintings, and likewise failed to show proof that they had other legitimate sources of income aside from their combined salaries of $304,372.43, the Sandiganbayan said. The anti-graft court ordered the forfeiture in favor of the government of at least 140 painting on the PCGG list of missing artworks. Those were the Grandma Moses paintings, the artworks listed in a report on the Metropolitan Museum of Manila’s Art Collection and other artworks, “which may also be found to be under the control and possession of respondents [Marcoses], their agents, representatives, nominees or persons acting on their behalf.

Notice is hereby given that on 11 November 2019, Applicant Camarines Sur I Electric Cooperative, Inc. (CASURECO I) filed an Application seeking the Commission’s approval for the adjustment in its rates pursuant to the Tariff Glide Path (TGP) Rules. The pertinent provisions of the said Application are hereunder quoted as follows: 1.

CASURECO I is a non-stock, non-profit electric cooperative, duly organized and existing under and by virtue of Philippine laws, with principal office at Libmanan, Camarines Sur;

It holds an exclusive franchise from the National Electrification Commission to operate an electric light and power distribution service in certain municipalities of the province of Camarines Sur, namely: Cabusao, Camaligan, Gainza, Libmanan, Lupi, Pamplona, Pasacao, Ragay, San Fernando and Sipocot.

The instant Application is being filed for the approval of CASURECO I’s proposed adjustment in its Distribution, Supply and Metering (DSM) Rates to be made effective on the First to Third Regulatory Years of the Second Regulatory Period for electric cooperatives belonging to the First Entrant Group under the Tariff Glide Path Rules (TGP Rules), as well as other pertinent laws and rules.

Sometime in year 2013, CASURECO I filed with the Honorable Commission an application for approval of proposed adjustment in its DSM Rates pursuant to the TGP Rules, docketed as ERC Case No. 2013-131 RC.

In the said application, CASURECO I prayed for approval of either of the following two (2) proposed alternative DSM rates, to be implemented effective January 2014, to wit:

STATEMENT OF FACTS

A. WITH PERFORMANCE INCENTIVE “S” UNITS

CUSTOMER TYPE Residential

Distribution Charges: Demand Charge Distribution System Charge Supply Charges: Retail Customer Charge Supply System Charge Metering Charges: Retail Customer Charge Metering System Charge

PhP/kW PhP/kWh

0.8508

PhP/Customer/Mo PhP/kWh

0.7786

PhP/Meter/Mo. PhP/kWh

5.0352 0.4601

Low Voltage

Higher Voltage 269.7846

UNITS

0.9324 40.4324

40.4324

28.9220

CUSTOMER TYPE Residential

Distribution Charges: Demand Charge Distribution System Charge Supply Charges: Retail Customer Charge Supply System Charge Metering Charges: Retail Customer Charge Metering System Charge 6.

CHECKPOINT. Members of the police special action force check colleagues entering their capital command headquarters in Manila on Dec. 19, ahead of a court verdict on the Maguindanao massacre. A Manila court is to hand down its verdict on Dec. 19 on the alleged masterminds of the Philippines’ worst political massacre, in a case that highlighted the nation’s culture of impunity. AFP

Cayetano: Sin Tax Bill closer to becoming a law THE Sin Tax Bill has moved a step forward toward becoming a law, according to Senate ways and means committee chairman Pia Cayetano. The members of the joint panel of the Senate and House of Representatives approved Wednesday afternoon the bicameral conference committee report reconciling the disagreeing provisions of the sin tax bill, which seeks to raise excise taxes on alcohol and e-cigarette products in the country beginning Jan. 1, 2020. Cayetano, along with House Ways and Means Committee Chairman and Albay Rep. Jose Salceda, led the bicameral discussions that lasted for more than four hours. Based on estimates of the Fi-

nance department, the approved bicam version will generate P22.2 billion in incremental revenues from alcohol and e-cigarettes during the first year of implementation. But due to an amended provision exempting specific prescription medicines from the value-added tax, the revenues from the measure will decrease by P5.2 billion for a total of P17.1 billion worth of net incremental revenues for 2020. The earmarking of revenues from higher sin taxes would be undertaken as follows: 60 percent will go to the Universal Health Care program, 20 percent to the Health Facilities Enhancement Program of the Department of Health, and the remaining 20 percent to the programs seeking to attain the country’s Sustainable Development Goals.

Medicine providers’ move praised THE Health department on Thursday welcomed the gesture of the Pharmaceutical Healthcare Association of the Philippines to voluntarily reduce the prices of select drugs and medicines through their proposed “Mas Murang Gamot Program.” Health Secretary Francisco Duque III said the drug companies and manufacturers would voluntarily reduce drug prices by as much as 75 percent for 155 medicines across 36 disease categories, both for the public and private sectors. “We appreciate the gesture [of PHAP] and we have been continuously evaluating the proposal, taking into account the intended goal of the Maximum Drug Retail Price, which is to improve access to affordable medicines for all Filipinos, he said. But Duque said some things must be taken into consideration. “First of all, given its voluntary nature, PHAP cannot guarantee price reduction at points of sale, such as drugstores, drug retailers and private hospitals, which comprise at least 90 percent of the total pharmaceutical market,” he said. “We know that the drug prices in these markets are significantly higher compared with government prices.” Of the 155 drugs promised, only 107 will have their prices cut across the pharmaceutical market. Macon Ramos-Araneta

ALLEGATIONS IN SUPPORT OF THE MOTION FOR PROVISIONAL AUTHORITY 14. Applicant respectfully repleads herein the foregoing allegations. 15. CASURECO I respectfully prays that it be allowed to implement either of the two (2) proposed alternative DSM Rates even while the instant Application is pending, considering that it is expressly prescribed under the TGP Rules’ provision on Regulatory Period and Process, which provides in part, as follows: “2. Regulatory Period and Process 2.1 On or before each Fourth month of the Third and Sixth regulatory year of their respective Regulatory Periods, the electric cooperative may file before the Commission an application for a rate adjustment reflecting the values for the “I”, “X” and “S” as determined in accordance with these rules. The initial tariff caps of the respective ECs shall be adjusted by the “I”, “X” and “S” effective at the start of the Fourth Regulatory Year of the First Regulatory Period and succeeding Regulatory Periods and the First Year of the Second Regulatory Period and succeeding Regulatory Periods. However, the adjustment for the First Year of the Second Regulatory Period and succeeding Regulatory Periods will be subject to the revised tariff caps calculated in accordance with Section 3 of these Rules.”

NATURE OF THE APPLICATION

B. EXCLUDING PERFORMANCE INCENTIVE “S”

By Macon Ramos-Araneta

Annex No. Nature of Document A to A-2 Proposed TGP Calculations and supporting documents using the prescribed templates: Index “I” Calculation Efficiency Factor “X” Calculation Performance Incentive “S” Calculation B MFSR - Sections B and E (2012-2015) C Billing Determinants Template (2012-2015) (kWh Sales, No. of Customers, kW Demand) D Sample Bills per customer type (2012-2015) E Regional CPI (2012-2015) F RFSC Utilization (2013-2015) G Consumer Complaints Summary or Tracking Form (2013-2015) H Audited Financial Statements (2013-2015)

TO ALL INTERESTED PARTIES:

By Maricel V. Cruz

The anti-graft court, in a 42page decision dated Dec. 19, said the Marcos family’s denial of knowledge or information about the paintings, which are in the possession of the PCGG and the Solicitor General, was not enough to release the paintings from sequestration. The Sandiganbayan’s Special Division ruled on Civil Case 0141 on Dec. 19 but released the ruling only on Thursday. The Marcoses, the anti-graft court ruled, failed to present a single document to justify how the funds used to purchase the artworks were lawfully acquired since the amount of the paintings went beyond their lawful income. In a ruling handed down in 2003, the Supreme Court said the Marcoses were deemed to have only earned the equivalent of $304,372.43 legally in the 20-year tenure of former President Ferdinand Marcos.

FRIDAY, DECEMBER 20, 2019 mst.daydesk@gmail.com

PhP/kW PhP/kWh

0.8508

PhP/Customer/Mo PhP/kWh

0.7786

PhP/Meter/Mo. PhP/kWh

5.0352 0.4601

Low Voltage

Higher Voltage

16. Under the TGP Rules, the regulatory period is six (6) years for each Entrant Group. For the First Entrant Group, the first regulatory period is from January 1, 2011 to December 31, 2016 and the start of the Second Regulatory Period is January 1, 2017. Appliant belongs to the First Entrant Group, accordingly, its initial DSM Rates under the TGP Rules should be adjusted through the proposed TGP B Rates starting January 1, 2011. 17. Aside from the foregoing, Applicant further prays for provisional authority to implement the proposed rates during the pendency of the instant Application, considering that CASURECO I urgently needs additional funds to be able to cope with the rising costs of its operations. Among the major factors that added to its operating costs is the implementation of the Sitio Energization Program (SEP) of the government consisting of massive extension of its distribution lines up to the remotest and far-flung areas which considerably increased its operations and maintenance costs and likewise resulted to increased system losses which the cooperative is constrained to absorb. 18. Further, the rising cost of materials, tools, equipment, supplies, fuel and other costs incidental to its daily operations has considerably increased in the past several years and the funds being generated from CASURECO I’s DSM revenues granted by the Honorable Commission way back in Year 2010 by virtue of the Rules for Setting the Electric Cooperatives’ Wheeling Rates (RSEC-WR), is no longer sufficient to cover those costs, and if not addressed accordingly with the adjustment of its rates, the cooperative’s service to its consumers will be prejudiced. 19. Considering the foregoing, it is respectfully prayed that herein Applicant be allowed to implement the proposed DSM Rates while the instant Application is pending evaluation of the Honorable Commission. SUBMISSION OF PRE-FILING REQUIREMENTS 20. Finally, in compliance with the pre-filing requirements under the ERC Rules of Practice and Procedure, Applicant is likewise submitting herewith the following documents, which are being made integral parts hereof, to wit:

269.7846 0.9324 40.4324

40.4324

28.9220

Annex Nature of Document Markings I Judicial Affidavit in Support of the Motion for Provisional Authority Proof of furnishing copies of the Application to the Sangguniang J and Panlungsod of Libmanan and the Sangguniang Panlalawigan of series Camarines Sur K and Proof of publication of the Application in a newspaper of general series circulation CASURECO I’s franchise area or where it principally operates

The aforesaid application is CASURECO I’s initial application for DSM rate adjustment pursuant to the TGP Rules, under which electric cooperatives are given an opportunity to adjust their rates once every three (3) years, which may occur at the start of the fourth year of the First Regulatory Period and every three years thereafter. CASURECO I belongs to the First Entrant Group under the TGP Rules, whose first regulatory period is from January 1, 2011 to December 31, 2016. It filed its initial application for DSM rate adjustment in 2013 which is the third regulatory year of the First Regulatory Period. It is filing the instant Application pursuant to the TGP Rules and based on the data of the fourth to sixth regulatory years of the First Regulatory Period or January 1, 2014 to December 31, 2016, for the proposed adjustment of its DSM rates to take effect on the first to third regulatory years of the Second Regulatory Period for the First Entrant Group under the TGP Rules, or January 1, 2017 to December 31, 2019. CASURECO I’s first TGP Application under ERC Case No. 2013-131 RC is still pending evaluation of the Honorable Commission. However, it adopted and utilized the proposed DSM rates in said pending application as bases in computing the proposed adjustment in the instant Application. THE PROPOSED DSM RATE ADJUSTMENT

9. Under the TGP Rules, the concerned electric cooperative shall use the following formula in determining the TGP for the fourth to sixth years of the Regulatory Period, to wit: TGPB= TGPn + TGPn+1TGPn+2 where

PRAYER WHEREFORE, premises considered, it is most respectfully prayed of this Honorable Commission that after initial evaluation hereof and while the Application is pending, Applicant CASURECO I be allowed to implement either of the alternative proposed new rates for its Distribution, Supply and Metering (DSM) Charges, and after due notice and hearing, the said proposed rates be granted accordingly, to cover the period of January 1, 2017 to December 31, 2019, to wit: A. WITH PERFORMANCE INCENTIVE “S” UNITS Distribution Charges: Demand Charge Distribution System Charge Supply Charges: Retail Customer Charge Supply System Charge Metering Charges: Retail Customer Charge Metering System Charge

PhP/kW PhP/kWh

0.8933

PhP/Customer/Mo PhP/kWh

0.8175

PhP/Meter/Mo. PhP/kWh

5.2865 0.4831

283.2530 0.9790 42.4509

42.4509

30.3659

B. EXCLUDING PERFORMANCE INCENTIVE “S”

TGPn = In - Xn + Sn n= the fourth year of the Regulatory Period and succeeding Regulatory Periods The TGP calculated for each of the three years will be summed to determine the possible rate adjustment starting on the First Year of the next Regulatory Period. 10. Applying the methodology embodied in the TGP Rules, CASURECO I calculated the values of the “I”, “X” and “S” and came up with the following results, to wit: “I”

“X”

“S”

TGP B

TGP B (Excluding “S”)

Year 2014

0.00%

0.80%

Year 2015

10.59%

3-53%

0.00%

7.05%

Year 2016

0.00%

4.16%

1.30%

-2.86%

-4.16%

4.99%

2.89%

Total

0.00%

11. Utilizing the above values will result in adjustments on the CASURECO I’s DSM Rates for the first to third years of the Second Regulatory Period for electric cooperatives belonging to the First Entrant Group, as follows: A. WITH PERFORMANCE INCENTIVE “S” UNITS

CUSTOMER TYPE Residential

Low Voltage

Higher Voltage

UNITS Distribution Charges: Demand Charge Distribution System Charge Supply Charges: Retail Customer Charge Supply System Charge Metering Charges: Retail Customer Charge Metering System Charge

Demand Charge

PhP/Kw 0.8935

0.9790

Supply Charges: Retail Customer Charge

PhP/Customer/Mo

Supply System Charge

PhP/kWh

0.8175

Retail Customer Charge

PhP/Meter/Mo.

5.2865

Metering System Charge

PhP/kWh

0.4831

42.4509

30.3659

Metering Charges:

EXCLUDING PERFORMANCE INCENTIVE “S” UNITS

CUSTOMER TYPE Residential

Low Voltage

Higher Voltage

Distribution Charges: Demand Charge

PhP/kW

Distribution System Charge PhP/kWh

277.5875 0.8755

0.9594

Supply Charges: Retail Customer Charge

PhP/Customer/Mo

Supply System Charge

PhP/kWh

0.8012

Retail Customer Charge

PhP/Meter/Mo.

5.1808

Metering System Charge

PhP/kWh

0.4734

41.6019

29.7585

Metering Charges:

PhP/kW PhP/kWh

0.8755

277.5875

PhP/Customer/Mo PhP/kWh

0.8012

PhP/Meter/Mo. PhP/kWh

5.1808 0.4734

0.9594 41.6019

41.6019

29.7585

The Commission has set the Application for determination of compliance with the jurisdictional requirements, expository presentation, Pre-trial Conference, and presentation of evidence on 16 January 2020 (Thursday) at ten o’clock in the morning (10:00 A.M.) at CASURECO I’s Main Office in Libmanan, Camarines Sur. All persons who have an interest in the subject matter of the instant case may become a party by filing with the Commission a verified Petition to Intervene at least five (5) days prior to the initial hearing and subject to the requirements under Rule 9 of the 2006 ERC Rules of Practice and Procedure, indicating therein the docket number and title of the case and stating the following: 1)

The petitioner’s name and address;

The nature of petitioner’s interest in the subject matter of the proceeding and the way and manner in which such interest is affected by the issues involved in the proceeding; and

A statement of the relief desired.

283.2530

Distribution System Charge PhP/kWh

CUSTOMER TYPE Low Higher Residential Voltage Voltage

Other reliefs, just and equitable in the premises are likewise being prayed for.

Distribution Charges:

CUSTOMER TYPE Low Higher Residential Voltage Voltage

All other persons who may want their views known to the Commission with respect to the subject matter of the case may file their Opposition or Comment thereon at any stage of the proceeding before Applicant rests its case, subject to the requirements under Rule 9 of the 2006 ERC Rules of Practice and Procedure. 1$o particular form of Opposition or Comment is required, but the document, letter, or writing should contain the following: 1)

The name and address of such person;

A concise statement of the Opposition or Comment; anc

The grounds relied upon.

All such persons who wish to have a copy of the Application may request from Applicant that they be furnished with the same, prior to the date of the initial hearing. Applicant is hereby directed to furnish all those making such request with copies of the Application and its attachments, subject to the reimbursement of reasonable photocopying costs. Any such person may likewise examine the Application and other pertinent records filed with the Commission during the standard office hours. WITNESS, the Honorable Chairperson and CEO AGNES VST DEVANADERA, and the Honorable Commissioners ALEXIS M. LUMBATAN, CATHERINE P. MACEDA, and PAUL CHRISTIAN M. CERVANTES, Energy Regulatory Commission, this 21st day of November 2019 in Pasig City.

JOSEFINA PATRICIA A. MAGPALE-ASIRIT Oversight Commissioner for Legal

MStandard – Dec. 20 & 27, 2019

Sports

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

FRIDAY, DECEMBER 20, 2019

Barangay Ginebra guard Stanley Pringle (11) tries to dribble past a pair of GlobalPort defenders in Sean Anthony (10) and Nico Elorde while Japeth Aguilar (25) tries to set a pick. PBA

First South Lake Chess tournament unreels WOODPUSHERS in the Southern Tagalog region and nearby province will compete in the 1st South Lake Chess Club dubbed as San Pablo City 2050 Invitational Chess Tournament on January 18, 2020 at the Tableria Masaya Bldg. P. Alcantara St. in San Pablo City, Laguna. Opening program starts at 7 a.m. followed by Game 1 at 9 a.m. Christian Peter Aristorenas and Zachary Phleps Bonilla of South Lakes Integrated School will be the favorite in the event with tough challenge coming from youthful John Byron Moreno of Crest Christian School and Frances Lian Chloe Tatlonghari of Canossa College of San Pablo City. The tournament will be played in a 7-round Swiss System format with the winner taking home P5,000; second place P3,000; third place P2,000; fourth place P1,000; fifth place P800; sixth place P700 and 7th to 10th places, P400 each. Category prizes for the top three winners in the age group 16 are P2,500, P1,500 and P1,500 while the top 3 survivor in the age group 10 are P1,500, P1,000 and P800.Top senior will bring home P400. Deadline online payment on January 10, 2020 at account name: Maria Carolina A. Laguerta and online payment deposit at BDO account 001930453033. Online registration is P400 and Onsite registration is P500. Call or text: Maria Carolina A.Laguerta (0945-453-6714), Rhina Aristorenas (0956-893-2345) and chief arbiter FA Lito Abril (0909-5670793) for complete details Meanwhile, P40,000 in total cash prizes will be up for grabs in the 1st Calauan Laguna Dalawahan Rapid Chess Tournament on December 30, 2019, Monday at the Kanluran Covered Court near Calauan Town Plaza in Calauan, Laguna. Round 1 will start exactly at 10 a.m. according to the organizing committee Mikhail Perez Laoagan and Sosonty Caumban in this year-ender tournament which will be supervised by Fide Arbiter Reden Cruz of the Chess Arbiter Union of the Philippines.

PRRD promises P100 million for Tokyo-bound PH athletes By Peter Atencio

UNDS amounting to P100 million will be made available for athletes who will qualify, train and take part in the 2020 Tokyo Olympics.

The financial assistance was guaranteed by President Rodrigo Duterte following the successful campaign Filipino athletes in the recent 30th Southeast Asian (SEA) Games. The president talked about the funding in a speech he made on Wednesday during the recognition of the SEA Games medalists in Malacañang. The president said the funding will come from the Philippine Amusement and Gaming Corp. (Pagcor), which earlier committed the support. “So I have another P100 million. But ‘yan lang, I’m very strict about money. I am very strict about money and kailangan talaga (everything) must be accounted

for up to the last centavo,” said the president during his talks with the athletes and sports officials. The Chief Executive added that he will ask lawmakers to give the athletes additional benefits, and this will be for increases in allowances while training. The Philippines won 149 golds, 117 silvers, and 121 bronzes to claim the overall title in the biennial tournament held in the country for the fourth time. Almost P79-milion cash incentives were also given to SEA Games medalists. This is in accordance with Republic Act 10699, which rewards winning athletes. A gold medalist gets P300, 000

while P150, 000 is for silver medalist and P60,000 for bronze. President Duterte was with by Executive Secretary Salvador Medialdea, Philippine Olympic Committee (POC) President Congressman Bambol Tolentino, Philippine SEA Games Organizing Committee (Phisgoc) Chairman and House Speaker Alan Peter Cayetano and Senator Christopher Lawrence “Bong” Go during the distribution of the incentives. Members of the Philippine national team was conferred the “Order of Lapu Lapu” for winning the overall championship in the Games. They were led by Team Philippines Chef de Mission and Philippine Sports Commission Chairman William Ramirez. Around 600 medalists of the SEAG trooped to the Malacañang Palace to meet President Duterte and receive their cash reward.

Romero asks stakeholders to close ranks WITH President Duterte already pitching in, Deputy Speaker Mikee Romero (1Pacman Partylist) yesterday called on all national sports associations (NSAs) and major stakeholders, including fellow House representatives, to work as one in order to realize the country’s long cherished dream – win an Olympic gold. “Let us support President Duterte’s wish of quenching the country’s thirst for an Olympic gold,” said Romero as he also vowed to support all the measures that Philippine Olympic Committee (POC) President and Tagaytay City Representative Abraham “Bambol” Tolentino will undertake in search for the ultimate prize. During the awarding of incentives to the athletes at Malacañang on Wednesday, Duterte made two wishes which many said are vital to the realization of winning an Olympic gold – a substantial increase in the national athletes’ monthly allowances and also to increase the country’s budget to the Olympics. Elite athletes are currently receiving P45,000 monthly allowance. “Sana ‘yung allowance ninyo, dapat

Deputy Speaker Mikee Romero.

‘yung pagkain, libre na. ‘Yung allowance ninyo, allowance na ninyo ‘yan,” said Duterte who drew cheers from the athletes and officials led by Tolentino, Philippine Sports Commission Chairman Butch Ramirez and Phiscog chairman Peter Alan Cayetano. “Mga P250,000 a month, okay na

siguro ‘yan,” said Duterte, drawing cheers from the athletes in attendance. “With President stepping in, I do believe winning an Olympic gold now is no longer impossible,” said Romero as he cited the country’s massive success in the 30th SEA Games where Filipino athletes ran away with the overall championship with 149 golds, 117 silvers and 121 bronzes. “Our success in the SEA Games which Congressman Tolentino masterminded by staging 529 events in 56 sports was a proof that we can win big if we work as one,” said Romero. “In the past, politicians who dabble as sports leaders were criticized for using sports as personal platforms. But in this era of sports, we are sportsmen first and politicians second,” Romero said. “And Congressman Bambol proved that.” The 30th SEA Games also marked the first time that POC doled out additional cash incentives to all Filipino medalists. Tolentino, also the cycling federation president, mustered the support of his fellow congressmen who contributed to the POC incentive/bonus program.

NU, SBU clash for PSSBC-Freego Cup crown AS expected the best from the UAAP and NCAA will fight it out for the 8th PSSBC-Freego Cup championship after beating their semis rivals with surprisingly ease Wednesday at the SGS Stadium in Quezon City. The National University Bullpups, the reigning UAAP champions, got a double-double performance from Batang Gilas veteran Carl Tamayo and steamrollered the Ateneo Eaglets, 93-66, to move within a win from becoming the first school to win back-to-back titles in the event dubbed as Tournament of Champions. The San Beda Red Cubs, on the other hand, showed why they were able to regain their NCAA crown by crushing the Far Eastern University Baby Tamaraws, 103-76, in a win that likewise pushed them within a victory of be-

coming the first three-time winner of the event presented by Freego. The face-off is set at 2:45 p.m. on Thursday with the winner earning the top prize of P50,000 in the event also sponsored by Happy Toothpaste, Poly-Gloss, IronCon Builders, Macbeth Underwear, Jumbo Plastic Linoleum, MEC Networks and Blackwater Sports. “Expect early fireworks because these teams have statements to make and a tradition to protect,” said PSSBC chairman and Freego big boss Eduard Tio. “You’re going to love this game.” With Tamayo imposing his will inside, he produced 12 points on 5-of-7 shooting from the field apart from grabbing 10 boards in just 16 minutes of play as the Bullpups roared to a commanding 55-29 halftime advantage.

That was enough to disarm the Eaglets who finished with a paltry 25-of-78 shooting for 32 percent—no thanks to NU’s rock-solid defense. The Red Cubs, meantime, came through with a huge second quarter attack that saw them outscore the Baby Tamaraws, 35-18, to pull away for good. Justine Sanchez played for a little over 16 minutes off the bench but he still topscored for the Manu Iñigo-mentored SBU with 24 points on a perfect 8-of-8 shooting from the field, including two from the 3-point zone. He was ably supported by former NU star Rhayyan Amsali who contributed 15 points and six boards in the event also backed by Molten, Gerry’s Grill, Cherrylume, Sumo GI Sheet and Choi Garden.

Gin Kings seek spot in finals By Jeric Lopez BARANGAY Ginebra shoots for a return trip to the finals when it looks to finish off NorthPort Barang Pier in their semifinals showdown in the 2019 Philippine Basketball Association Governors’ Cup. Leading 2-1 in the best-of-five series and already on the hill, the Gin Kings are looking to finish off the Batang Pier in Game 4 at 7 p.m. at the Smart Araneta Coliseum tonight. The Gin Kings duplicated in Game 3 what it did in Game 2, routing the undermanned Batang Pier, 132-105, with ease Wednesday night to gain the series upper hand. “We won the last game big but still, that’s just one win,” said Ginebra coach Tim Cone. “We still need one more to advance so we’re gunning for another one.” Should Ginebra make it to the big stage, it will be its third finals appearance in the Governors’ Cup in the last four seasons. It won back-to-back championships in 2016 and 2017. Justin Brownlee was his smooth self in Game 3, firing a conferencehigh 41 points and 11 rebounds to pace his squad. The Gin Kings dominated Game 3 the entire way and even led as much as 32 points. Still, NorthPort knows it is still breathing and is looking to make another charge to save its season. “We won four knockout games, basically, to make it this far and we’re used to it,” said NorthPort star Sean Anthony. “We hope that it can be to our advantage so we can keep going.” Should NorthPort force a deciding Game 5, it will be scheduled on Sunday. Meanwhile, TNT and Meralco are going hard at each other, as of press time, as they both shoot for a 2-1 lead in their own semis series.

PCKDBF head elected Asia federation VP PHILIPPINE Canoe Kayak Dragon Boat Federation president Jonne Go was recently elected as Vice President of the Asian Canoe Federation. Go was elected during the Asian Canoe Congress held last week in Pattaya, Thailand. She joined two others for the Continental Federation’s second highest post. The two were Svetlana Kulokova of Kazakhstan and Kim Yongbin of Korea. Go also retained her post as Continental Representative of Asia at canoe’s world governing body, the International Canoe Federation or ICF. She is currently the auditor of the Philippine Olympic Committee. In the recent 30th Southeast Asian Games, the Philippines finished seventh, with one gold, two silvers and two bronzes. During the elections, Shoken Narita was retained president. Natita has been president of the Federation since 2009, and he is a member of the ICF’s board of directors and an executive director in the Japan Canoe Federation. Kim Yong-bin, who is chairman of the Korea Canoe Federation, was elected the first senior vice chairman. Peter Atencio

NU’s Gerry Abadiano (6) attempts a layup during their 8th PSSBC-Freego Cup game with the Ateneo Eagles on Wednesday at the SGS Stadium in Quezon City. The Bullpups won convincingly, 93-66.

Business

IN BRIEF

BOP surplus hit $6.3b in 11 months

THE country’s balance of payments posted a surplus of $541 million in November, pushing the total surplus in the first 11 months to $6.27 billion, a turnaround from the $4.75-billion deficit a year ago. “The surplus may be attributed partly to lower trade in goods account deficit, higher net receipts in the trade in services account and personal remittance inflows from overseas Filipinos, and net inflows of foreign direct investments and foreign portfolio investments,” the Bangko Sentral ng Pilipinas said. The BOP position reflects the final gross international reserves level of $86.23 billion as of endNovember 2019. At this level, the GIR represents a more-than-ample liquidity buffer equivalent to 7.5 months’ worth of imports of goods and payments of services and primary income. It is also equivalent to 5.4 times the country’s short-term external debt based on original maturity and 4.2 times based on residual maturity. BOP summarizes the country’s economic transactions with the rest of the world. Persistent surpluses help build up the GIR and stabilizes the peso against the US dollar and other foreign currencies. Julito G. Rada

Mitsubishi-Filinvest venture approved

THE Philippine Competition Commission approved the proposed joint venture between Mitsubishi Corp. and Filinvest Alabang Inc. to develop upscale mixed-used projects in Alabang, Muntinlupa City. The joint venture will result in the incorporation of Spectrum Alabang Properties Inc. The anti-trust body said the transaction would not likely result in the substantial lessening of the competition in the Grade-A office space and retail markets in the southern business district, given the sufficient number of other market players. Mitsubishi is set to acquire 40 percent of the issued and outstanding shares of stock in Filinvest Alabang, as a way to develop and manage the latter’s 16,928 square meters of land. The property forms part of Filinvest City―a 244-hectare mixed-use estate in the Alabang. Filinvest Alabang is a subsidiary of Filinvest Development Corp. and was specifically incorporated to develop Filinvest City in a joint venture project with the Philippine government. The Alabang subsidiary of FDC is 80-percent owned by Filinvest Development Corp. and 20-percent owned by Filinvest Land Inc. Othel V. Campos

Large cruise vessel to dock at BCTI port

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

Cebu Pacific signs $2-b deal to buy Airbus jets C By Darwin G. Amojelar

EBU Air Inc. said Thursday it is acquiring more aircraft from Airbus SAS for $2 billion to support domestic and international network expansion.

The airline unit of the Gokongwei Group said it signed a purchase agreement with Airbus for the order of 15 A320NEO family aircraft including up to 10 A321XLR. The order is valued at $2 billion based on list prices. The 15-aircraft order includes up to

10 A321XLR (xtra long range) jets, the world’s longest-range single-aisle aircraft. The purchase agreement is a part of the memorandum of understanding signed by Cebu Pacific with Airbus in June 2019 during the Paris Air Show for an order of 31 next generation aircraft. The purchase agreement for 16 widebody A330 NEO aircraft was already finalized in October, and the latest purchase agreement completed the remaining part of the memorandum of understanding. Cebu Pacific earlier said it would have an all-next generation fleet of Airbus jets by 2024. Cebu Pacific plans to utilize the aircraft on trunk routes within the Philip-

pines, the rest of Asia and on long-haul routes to Australia and the Middle East. The aircraft are scheduled for delivery between 2021 and 2024. Cebu Pacific expects to have an all-next generation fleet of Airbus jets by 2024. Cebu Pacific has already accepted delivery of 10 brand-new aircraft―five Airbus A321NEO and four A320NEO as well as an ATR 72-600. The CEB fleet is now comprised of 75 aircraft, including seven Airbus A321CEO, 30 Airbus A320, eight A330, seven ATR 72-500, 12 ATR 72600,and an ATR cargo rreighter. The ATR aircraft is used by subsidiary Cebgo to service inter-island flights in the Philippines where jet operations are not possible.

BLOOMBERRY Cruise Terminal Inc.’s newlyconstructed Ilocos Cruise Port in Salomague, Cabugao, Ilocos Sur is set to start operations on Dec. 26 with the maiden call of Spectrum of the Seas, the largest cruise vessel in Asia. “This call is a handsome reward for the efforts of our team in coordination with the Department of Tourism of the Philippines to bring cruise calls to the country,” BCTI senior advisor Guillaume Lucci said. “It is the first call to the first dedicated cruise facility in the Philippines, and already we have the largest cruise ship in Asia calling. The structure of the itinerary shows how important it is to have a good network of cruise facilities across the country, something we are working very hard to realize,” Lucci said. The ship is owned and operated by Royal Caribbean, one of the world’s largest cruise brands, and will bring with it up to 4,819 passengers and 1,551 crew. The ship is scheduled to arrive at Salomague from the port of Naha in Okinawa, Japan on a seven-night Japan and Philippines itinerary out of Hong Kong.

ISOC starts building common telecom towers

ISOC edotco Towers Ltd. on Thursday started the construction of first common towers in Bacoor City, Cavite as a part of its plan to put up 500 cell sites in its first year of operations. “This groundbreaking marks a step forward for the nation, towards embracing the shared infrastructure model and advancing overall connectivity,” edotco chief executive Suresh Sidhu said. “Out efforts in the Philippines are fueled by the clear opportunity to transform the telecommunications landscape and our commitment to improve the country’s digital aspirations as a nation building partner,” he said. Sidhu said the push for common towers in the Philippines was driven by telco users’ increasing appetite for faster connectivity speeds and lower latency amid an increasing demand for data. “In meeting the demand operations are set to invest in 4G and 5G deployment while modernizing existing 3G networks to improve customer experience. To do this successfully, the sector requires more towers, antennas and base stations across the nation,” he said. The construction of shared infrastructure aims to reduce the country’s subscriber-to-tower ratio which currently stands at over 7,000 subscribers per tower. Darwin G. Amojelar

IWG PARTNERSHIP. IWG, the leading flexible workspace provider, teams up with Cebu-based property developer AppleOne Properties Inc. to develop its first workspace franchises in the Philippines. Attending the signing ceremony in Cebu City are (from left) API president and chief executive Ray Manigsaca, API chairman Venus Manigsaca, IWG head of partnership growth in Asia Pacific Matthew James Kenley, IWG Philippines OFFICE OF THE GOVERNOR country manager Lars Wittig and IWG Philippines head of partnership growth Rowena Natividad.

D.M. Wenceslao offers to reclaim 735 hectares of Manila Bay area By Jenniffer B. Austria PROPERTY developer D.M. Wenceslao & Associates Inc. submitted two proposals to reclaim 735 hectares of Manila Bay in Parañaque City and Cavite province. DMWAI said in a disclosure to the stock exchange it submitted the proposals to the Philippine Reclamation Authority to undertake reclamation projects in front of Aseana City in Parañaque and in Sangley Point, Cavite. Under DMWAI’s proposals, the government will receive 200 hectares of land at zero cost. They serve as an extension of the previous agreements that the government signed with DMW where the latter was given rights on the frontage of the completed reclamation project. “We look forward to continuing our work with the government to strengthen the country’s development activities,” DMWAI chairman Delfin Wenceslao Jr. said. “This 400-hectare reclamation project is in line with our thrust to contribute to nation-building,” he said. DMWAI’s completed reclamation project in Parañaque City now houses numerous entertainment, gaming and tourism destinations which have become a key driver of economic growth. It is where Aseana City and PAGCOR Entertainment City now stand and where the recently opened Ayala Malls Manila Bay is located. The proposed project in Cavite is involves the reclamation of 335 hectares of offshore island in Sangley Point in preparation for the development of the Sangley International Airport. The proposal is undergoing review by the Office of the President, Department of Transportation and the Department of Finance. “We look forward to demonstrate once again our expertise in land reclamation. Over the last 50 years, we have reclaimed more than 2,400,000 square meters of land across the Philippines. We are pleased to draw on that experience to successfully deliver and safely execute these projects,” said Wenceslao.

set to arrive in the country by June 2021, will be initially deployed for long haul service from Calamba, Laguna to Naga City, Camarines Sur and eventually to Legazpi City, Albay. Tugade said the trains will have three types of accommodation, including business class, first class and second class. The trains can accommodate 168 passengers with 36 seats for business class, 52 seats for first class and 80 seats for second class. PNR used to cover 479 kilometers of tracks from Manila to Bicol until it stopped operation in 2014 because of the right-of-way issues and lack of trains. PNR deployed six brand-new diesel multiple unit rail cars from Indonesia last week that increased the capacity of PNR to 73,500 passengers a day from the previous 60,000 passengers. Manufactured by Indonesian company PTINKA, the six brand-new DMU train cars were converted into two train sets of three railcars each. They are expected to add 18 to 20 more trips per day on the line’s routes from Tutuban (Manila) to FTI (Taguig City) and from Malabon to FTI. Darwin G. Amojelar

Series of 2019 Subject:

Amendments to the Disclosure Requirement on Interest Rate Risk in the Banking Book

The Monetary Board, in its Resolution No. 1862 dated 28 November 2019, approved the revisions to the minimum disclosure requirements under Appendix 59 on the Risk-Based Capital Adequacy Framework for the Philippine Banking System on interest rate risk in the banking book (IRRBB), as follows: “Part IX. Disclosures in the Annual Reports and Published Balance Sheets 1. 2.

Xxx Xxx

Capital structure and capital adequacy

Xxx

Risk exposures and assessments

Xxx Interest Rate Risk in Banking Book 10. Aside from the general disclosure requirements stated in paragraph 4, the following information with regard to interest rate risk in the banking book have to be disclosed in banks’ Annual Reports: a)

A description of how the bank defines IRRBB for purposes of risk control and measurement;

A description of the bank’s overall IRRBB management and mitigation strategies. Examples are: monitoring of risk measures in relation to established limits, hedging practices, conduct of stress testing, outcomes analysis, the role of independent audit, the role and practices of the asset and liability committee (ALCO), the bank’s practices to ensure appropriate model validation, and timely updates in response to changing market conditions;

The periodicity of the calculation of the bank’s IRRBB measures, and a description of the specific measures that the bank uses to gauge its sensitivity to IRRBB;

A description of the interest rate shock and stress scenarios that the bank uses to estimate changes in the economic value and/or in earnings;

A high-level description of how the bank hedges its IRRBB, as well as the associated accounting treatment; and

A high-level description of key modelling and parametric assumptions used in IRRBB measurement.

Experts warn vs China control of PH telco, power SECURITY experts have warned against the rising influence of Beijing in the Philippines and the Southeast Asian region. Speaking at the recent ASEAN Summit in Thailand, US National Security Advisor Robert O’Brien said countries should deal with each other as sovereigns, equals and in accordance with the international law and customs. “The days that big countries could take advantage of small countries just because of their size, just because one country is big and one country is small, we don’t think that there is any place for that in the international system of the 21st century,” O’Brien said. This sentiment was echoed by former Bayan Muna representative Neri Colmenares in a television interview where he spoke of China’s creeping control over telecom and power assets in the Philippines. Colmenares cited the country’s third major telecom player, DITO Telecommunity, which is controlled by state-owned China Telecoms. He said that given the Philippines’ maritime dispute with

Circular No. 1067

PNR acquiring China trains for Bicol line THE Philippine National Railways is acquiring new trains from CRRC Zhuzhou Locomotive Co. Ltd. of China for the South Long Haul project, also known as PNR Bicol. PNR general manager Junn Magno and CRRC Locomotive vice president Wang Qiaolin signed the contract for the procurement of the standard gauge diesel multiple unit trains. The signing was witnessed by Transportation Secretary Arthur Tugade and Undersecretary for railways Timothy John Batan. CRRC Zhuzhou Locomotive was declared the winning project bidder for the delivery of standard gauge DMU trains to the PNR on Oct. 23, 2019. “This is a very momentous occasion for us because this is where we will start the railway service and transform the Philippine National Railways,” Magno said. “This train will represent the first trip for the South Long Haul Project or what we call the PNR Bicol and it would cut down significantly by 80 percent the travel time between Manila and the Bicol region,” he said. The project consists of three train sets of three-car formations. These train sets, which are

FRIDAY, DECEMBER 20, 2019

China, “it is absurd for the Philippines to give it control of our telecommunications system.” The Armed of Forces of the Philippines even went the extra mile by signing a memorandum of agreement to allow DITO to put up cell towers and telecom equipment in military installations nationwide―a move Colmenares and other experts said would make the Philippine military vulnerable to Chinese hacking and espionage. The former representative also expressed concern over China’s co-ownership of the national grid, saying its system could be prone to cyber-attacks. “They [Chinese company] admitted in their annual report, its [system is] vulnerable to cyber-attacks,” Colmenares said in the interview. “Even if they say it’s immune to cyberattacks, China has proven, and many hackers have proven actually, that anything can be hacked now. Don’t tell us that our grid is safe from China when in fact it’s the largest stockholder in that company,” he said.

This Circular shall take effect fifteen (15) calendar days following its publication either in the Official Gazette or in a newspaper of general circulation. FOR THE MONETARY BOARD: (Sgd) BENJAMIN E. DIOKNO Governor 13 December 2019

Business

FRIDAY, DECEMBER 20, 2019 extrastory2000@gmail.com

Stocks fall; Manila Water advances

TOCKS fell Thursday on lack of a catalyst that could boost the benchmark index, even as some investors took opportunities in waterrelated issues whose share prices have swung in recent sessions.

The Philippine Stock Exchange Index dropped 79.73 points, or 1 percent, to 7,653.94 on a value turnover of P12.6 billion. Losers beat gainers, 102 to 67, with 63 issues unchanged. Jollibee Foods Corp., the biggest fastfood chain, declined 4 percent to P216, while Security Bank Corp., the sixthlargest lender in terms of assets, shed 3.1 percent to P187.

Manila Water Co. Inc., which holds the concession to distribute water in the eastern zone of Metro Manila, surged 13.1 percent to P7.75, while DMCI Holdings Inc., which partly owns Maynilad Water Services Inc., advanced 9.1 percent to P6.47. The rest of Asian markets turned lower on Thursday as the dealers begin to wind down ahead of the Christmas break and as the rally fueled by the China-US trade pact loses steam. Asia was on the back foot. Hong Kong lost 0.4 percent in the afternoon and Tokyo ended 0.3 percent lower. Sydney fell 0.3 percent and Singapore dropped 0.2 percent while there were also losses in Taipei, Bangkok and Jakarta. However, Seoul and Mumbai rose while Wellington rallied more than one percent. Shanghai was virtually unchanged. “With the holiday season nearly upon

us, attention seems more focused on flights home and calorific intakes than flights to quality,” said OANDA senior market analyst Jeffrey Halley. There was little major reaction after the House of Representatives voted to impeach Donald Trump as he is unlikely to be removed from office by the Republican-held senate. With few catalysts to drive business, investors were taking it easy after a rollercoaster year that has seen equities swing back and forth mostly by trade rows between the US and China as well as other major allies, while Brexit has also played a key role. The hope is that now Washington and China have reached a partial tariffs agreement—and British politics is on a more even keel after last week’s decisive election win for pro-Brexiter Boris Johnson—markets can enjoy a healthy 2020.

Analysts pointed to a recent run of positive economic data around the world that indicates the slowdown in global growth could be nearing a bottom, which could help Wall Street extend its record-breaking run. “The trade deal relief rally looks set to take on a fundamental shift as the global growth rally trade of 2020 starts to build momentum on the back of the decisive run of comprehensive economic data to end the year,” said Stephen Innes at AxiTrader. Last Friday’s China-US pact provided a boost to global markets—which had already been rallying for weeks in anticipation of a deal—but they were unable to keep up the pace as this week rolled on. On Wednesday the Dow and S&P 500 dipped slightly, though the Nasdaq managed to eke out yet another all-time high. With AFP

Manila Standard BuSineSS daily StockS review thurSday, deceMBer 19, 2019

OPEN

HIGH

LOW

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

53.75 82.5 1.9 159.9 0.85 24.8 18.1 12.74 3.85 64.8 0.77 12.7 20.5 34.8 175 112.1 57.3 22.3 193.9 57.8

54 84.45 2.09 159.9 0.85 24.95 18.1 12.84 3.86 64.85 0.77 12.7 20.5 35.95 175 112.1 57.3 24 193.9 58.2

53.75 82.1 1.9 151 0.85 24.8 18.1 12 3.85 63.55 0.77 12.7 20.5 34.8 172 112.1 57 22.05 186.1 57.8

FINANCIALS 53.9 2,390 83.8 2,211,840 2.09 65,000 154.8 2,076,080 0.85 19,000 24.95 51,200 18.1 9,000 12.1 2,476,500 3.86 17,000 64.5 2,281,740 0.77 33,000 12.7 500 20.5 487,400 35.7 65,600 173 1,520 112.1 120 57.3 12,240 22.6 177,400 187 1,103,210 58.2 21,670

128,630 183,486,593.50 129,020 321,102,694 16,150 1,272,785 162,900 30,271,140 65,590 146,324,839 25,410 6,350 9,991,700 2,340,015 262,421 13,452 699,336 4,097,315 207,570,309 1,258,005

-109,788 -51,514,288 -145,719,970 -407,530 -18,100 -72,722 -75,569,578 -1,580,080 15,570 -312,285 -186,210 -163,796,404 -1,253,953

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

33.5 2.2 13.38 0.54 1.24 2.6 0.24 1.98 15.36 162.5 3.98 17.86 28.05 64.6 2.13 5.19 9.47 14.16 9.51 7.19 24.6 68.1 1.05 40.05 1.94 13.56 7.62 1.34 224.6 41.55 4.7 6.15 7.08 12.36 17 311 0.153 1.91 3.78 3.9 9.96 11.04 33.4 5 5.1 2.15 0.86 10.38 86.7 7.7 0.99 146 1.13 15.3 0.87

33.5 2.35 13.5 0.55 1.24 2.6 0.246 2 15.4 162.5 4 18 28.05 64.6 2.13 5.19 9.61 14.5 9.77 7.2 24.65 68.1 1.12 40.8 1.96 13.88 7.7 1.34 224.8 41.55 4.7 6.29 7.8 12.36 17 315.8 0.153 1.92 4.1 3.99 9.96 11.5 33.4 5.01 5.16 2.2 0.86 10.5 86.7 7.96 1.03 146 1.13 15.3 0.88

33 2.2 12.82 0.53 1.23 2.46 0.24 1.91 15.24 162.5 3.9 16.5 28.05 64.5 2.06 5.08 9.46 14.1 9.51 7.18 23.5 66.7 1.04 40 1.89 13.52 7.62 1.2 216 41.55 4.6 6.15 6.95 11.9 16.54 308.2 0.153 1.91 3.78 3.85 9.7 11.04 32.7 5 5.1 2.11 0.86 10.38 85.25 7.7 0.97 142.1 1.11 15.3 0.85

INDUSTRIAL 33.1 1,285,800 2.31 3,309,000 13.3 204,300 0.54 177,000 1.23 94,000 2.46 3,455,000 0.246 1,880,000 1.92 1,999,000 15.36 246,400 162.5 130 3.93 105,000 17.54 35,200 28.05 2,700 64.5 570 2.13 65,000 5.08 2,700 9.6 3,860,200 14.12 216,900 9.77 27,300 7.2 20,500 23.5 865,900 67.75 37,110 1.08 14,265,000 40.8 3,500 1.93 15,994,000 13.88 53,100 7.7 93,700 1.33 229,000 216 597,720 41.55 800 4.6 59,000 6.26 6,200 7.75 75,524,700 12.1 560,700 16.6 762,800 311.4 272,710 0.153 40,000 1.91 5,197,000 4.1 5,000 3.99 992,000 9.7 55,100 11.48 111,300 33.35 288,300 5 455,700 5.16 23,000 2.16 791,000 0.86 22,000 10.44 39,300 86 37,210 7.9 165,000 1.01 215,000 143 831,850 1.13 1,123,000 15.3 700 0.88 591,000

42,584,260 7,593,620 2,728,550 95,130 115,690 8,692,990 459,380 3,867,130 3,780,362 21,125 412,640 626,368 75,735 36,780 137,470 13,793 36,734,021 3,061,092 261,157 147,394 20,369,015 2,493,073.50 15,397,010 140,685 30,852,750 732,074 720,199 293,170 130,158,844 33,240 274,400 38,268 561,679,130 6,774,840 12,661,614 84,895,544 6,120 9,927,130 19,600 3,887,930 536,085 1,277,186 9,535,905 2,278,515 118,035 1,689,020 18,920 410,458 3,187,069 1,299,053 211,520 119,361,407 1,253,090 10,710 507,700

-27,121,140 1,889,990.00 270,350 -735,660 -308,230 908,576 -3,970 -75,735 22,354,189 -1,990,896 -25,721 -30,184 -1,914,190 -1,195,238.50 -30,670 -24,005.00 4,165,320 -395,024 104,817 -1,330 -32,696,428 -159,610,862 -2,123,490 -10,333,124 20,772,034 -3,870,980 179,610 608,765.00 15,000 -6,734 19,440 -240,260 -1,461,078 15,785 -42,433,211 260,850 -

ABACORE CAPITAL ABOITIZ EQUITY ALLIANCE GLOBAL ANGLO PHIL HLDG ANSCOR ASIABEST GROUP ATN HLDG A AYALA CORP AYALA LAND LOG COSCO CAPITAL DMCI HLDG FILINVEST DEV FJ PRINCE A FORUM PACIFIC GT CAPITAL HOUSE OF INV JG SUMMIT JOLLIVILLE HLDG KEPPEL HLDG B LODESTAR LOPEZ HLDG LT GROUP MABUHAY HLDG METRO PAC INV PACIFICA HLDG PRIME MEDIA SAN MIGUEL CORP SM INVESTMENTS SOC RESOURCES SOLID GROUP SYNERGY GRID TOP FRONTIER WELLEX INDUS ZEUS HLDG

0.81 51.4 11.36 0.68 6.57 11.26 0.92 760 3.02 6.78 5.95 13.3 4.24 0.213 825 5.3 78.3 5.96 5.88 0.485 3.74 11.5 0.57 3.48 4.1 1.2 159 1,051 0.8 1.22 189 209 0.202 0.19

0.81 51.4 11.5 0.7 6.57 11.26 0.93 776 3.07 6.78 6.47 13.3 4.24 0.213 826 5.3 79 5.96 5.88 0.5 3.75 12 0.58 3.52 4.12 1.25 159 1,052 0.8 1.23 189 214 0.205 0.19

0.77 49.55 11.3 0.68 6.57 10.6 0.92 755 3.02 6.66 5.95 13.04 4.24 0.213 811 5.25 76.65 5.5 5.22 0.48 3.72 11.48 0.57 3.37 4 1.16 152 1,027 0.8 1.22 160 208 0.202 0.19

HOLDING FIRMS 0.78 12,087,000 50.95 1,734,250 11.32 19,321,500 0.7 89,000 6.57 400 10.68 1,900 0.92 457,000 755 509,790 3.05 394,000 6.73 981,700 6.47 30,015,600 13.3 110,500 4.24 1,000 0.213 210,000 814.5 157,670 5.26 23,700 77 2,121,310 5.96 5,800 5.22 200,200 0.5 23,000 3.72 173,000 12 921,800 0.58 170,000 3.4 78,158,000 4 14,000 1.25 320,000 152 131,150 1,035 470,420 0.8 1,000 1.22 198,000 172 2,570 214 2,580 0.202 1,880,000 0.19 10,000

9,569,840 88,095,428 219,275,852 60,540 2,628 20,642 422,090 388,717,720 1,199,960 6,590,951 186,874,749 1,468,496 4,240 44,730 128,854,630 124,754 164,089,616.50 33,648 1,177,107 11,160 646,020 10,845,500 96,950 268,860,950 56,640 382,240 20,055,889 489,710,940 800 241,670 426,672 550,946 379,970 1,900

7,790 -10,762,311 -36,107,968 -170,782,750 -197,950 -694,631 -10,291,164 92,972 -69,179,705 -35,167,521.50 -1,176,585 -276,470 -5,664,358 -28,500.00 -116,027,540 4,000 -11,591,993 -138,031,715 24,400 419,716 1,900

14.76 0.69 1.29 0.79 45 1.96 4.62 6.38 0.54 0.71 0.385 9.8 18.9 0.415 0.1 1.49 4.09 0.191 0.4

PROPERTY 14.76 219,800 0.69 550,000 1.42 116,000 0.8 798,000 45.4 8,737,300 1.98 231,000 4.72 97,000 6.7 8,000 0.56 19,827,000 0.71 47,000 0.385 50,000 9.8 222,500 19.08 172,800 0.43 120,000 0.108 5,270,000 1.51 7,918,000 4.1 22,182,000 0.196 5,500,000 0.4 20,000

8990 HLDG A BROWN ARANETA PROP ARTHALAND CORP AYALA LAND BELLE CORP CEB LANDMASTERS CEBU HLDG CENTURY PROP CITY AND LAND CYBER BAY DM WENCESLAO DOUBLEDRAGON EMPIRE EAST EVER GOTESCO FILINVEST LAND MEGAWORLD MRC ALLIED PHIL ESTATES

14.76 0.72 1.31 0.79 46.6 1.99 4.68 6.65 0.56 0.71 0.39 9.9 19.04 0.415 0.118 1.51 4.09 0.196 0.4

14.9 0.72 1.42 0.81 46.6 1.99 4.73 6.7 0.56 0.78 0.39 10 19.2 0.43 0.118 1.51 4.16 0.196 0.4

VOLUME

VALUE

NET FOREIGN BUYING/(SELLING), PHP

NAME

OPEN

HIGH

LOW

VOLUME

VALUE

PHIL INFRADEV PHIL REALTY PRIMEX CORP PTFC REDEV CORP ROBINSONS LAND ROCKWELL SHANG PROP SM PRIME HLDG STA LUCIA LAND SUNTRUST HOME VISTA LAND VISTAMALLS

1.29 0.315 2.02 45 27 2.1 3.12 40.8 2.48 1.1 7.38 5.49

1.29 0.315 2.13 45 27.4 2.1 3.18 41 2.48 1.18 7.38 5.49

1.24 0.3 2.02 45 26.8 2.09 3.12 39.8 2.44 1.09 7.3 5.3

1.28 0.3 2.07 45 27 2.09 3.18 40.65 2.48 1.18 7.35 5.49

1,209,000 880,000 881,000 1,000 1,791,200 226,000 16,000 6,101,500 173,000 9,515,000 2,015,400 64,600

1,511,330 272,500 1,834,150 45,000 48,466,380 474,540 50,400 246,505,510 425,900 10,898,600 14,813,644 348,567

-2,729,205 -28,560 -89,238,350 -6,928,026 -

2GO GROUP ABS CBN ALLHOME APC GROUP APOLLO GLOBAL ASIAN TERMINALS BERJAYA BLOOMBERRY CEBU AIR CENTRO ESCOLAR CHELSEA DISCOVERY WORLD EASYCALL FAR EASTERN U GLOBE TELECOM GMA NETWORK GRAND PLAZA HARBOR STAR INTL CONTAINER IPM HLDG ISLAND INFO ISM COMM LBC EXPRESS LEISURE AND RES LORENZO SHIPPNG MACROASIA MANILA BULLETIN MANILA JOCKEY METRO RETAIL METROALLIANCE A NOW CORP PACIFIC ONLINE PAL HLDG PH RESORTS GRP PHIL RACING PHIL SEVEN CORP PHILWEB PLDT PREMIUM LEISURE PRMIERE HORIZON PUREGOLD ROBINSONS RTL SBS PHIL CORP SSI GROUP STI HLDG TRANSPACIFIC BR WATERFRONT WILCON DEPOT

9.5 16 11.5 0.41 0.042 18.26 4.11 11.12 92.65 6.9 4.99 1.9 7.92 890.5 2,000 5.24 9.51 1.1 133 6.2 0.097 3.05 13.5 2.54 0.9 17.1 0.385 3.36 2.12 0.99 2.4 2.52 7.3 5 7.68 148 2.48 991.5 0.58 0.34 40.15 71.1 8.88 2.66 0.63 0.265 0.59 18.54

9.5 16 11.5 0.41 0.042 18.26 4.41 11.3 92.65 6.9 4.99 1.9 8 890.5 2,038 5.25 10.54 1.13 133 6.3 0.098 3.05 13.5 2.54 0.9 17.1 0.385 3.38 2.13 0.99 2.41 2.58 7.5 5 7.68 148 2.48 1,000 0.58 0.34 40.4 73.9 9 2.72 0.63 0.275 0.59 18.54

9.45 15.5 11.42 0.38 0.042 18.26 4.05 10.9 90 6.9 4.83 1.9 7.84 890.5 1,975 5.23 9.51 1.09 127.2 6 0.095 2.92 13.5 2.4 0.84 16.5 0.38 3.36 2.07 0.99 2.35 2.52 7.3 5 7.6 148 2.35 990 0.56 0.3 39.9 71 8.88 2.65 0.59 0.265 0.57 18.16

SERVICES 9.48 15.8 11.48 0.385 0.042 18.26 4.38 11.3 90.7 6.9 4.89 1.9 8 890.5 2,000 5.25 10.54 1.09 130 6.1 0.095 2.96 13.5 2.42 0.84 16.8 0.38 3.36 2.09 0.99 2.4 2.58 7.5 5 7.6 148 2.35 999 0.56 0.325 40.4 73.9 9 2.67 0.6 0.27 0.57 18.16

17,200 71,000 1,773,600 2,160,000 2,000,000 500 2,942,000 3,561,400 32,380 700 518,000 4,000 4,900 300 29,920 19,100 200 757,000 4,434,910 2,800 2,370,000 1,894,000 3,700 912,000 717,000 373,800 790,000 93,000 1,281,000 10,000 1,116,000 5,000 5,100 5,000 13,800 80 1,230,000 152,220 3,676,000 10,970,000 1,328,800 167,380 155,000 2,348,000 6,767,000 3,040,000 4,526,000 248,700

163,144 1,127,488 20,355,914 839,900 84,000 9,130 12,474,370 39,261,318 2,959,848 4,830 2,515,800 7,600 38,764 267,150 59,910,400 100,029 2,005 826,290 576,344,642 17,120 227,870 5,618,210 49,950 2,234,230 634,430 6,262,186 303,400 312,500 2,678,010 9,900 2,662,680 12,840 37,930 25,000 105,713 11,840 2,936,390 151,827,090 2,095,350 3,494,400 53,180,845 11,958,802 1,385,640 6,285,230 4,027,890 814,600 2,611,240 4,538,470

983,756 -47,700 -21,850 -13,112,904 -956,900 4,830 267,150 3,650,740 144,024,154 12,100 19,000 41,740 73,000 -2,800,034 -335,920 112,260 -2,640 -26,270 -85,737,462.50 -88,520.00 129,700 -100,535 -3,134,029.50 2,280,170 -1,470,010 388,376

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

0.0015 6.85 0.94 2.41 10.94 2.66 0.27 6.9 1.61 0.2 0.092 0.0077 0.008 0.81 2.93 0.99 0.73 0.011 0.01 3 8.6 21.2 0.0053

0.0015 7.33 0.94 2.41 10.96 2.68 0.27 7.21 1.61 0.205 0.092 0.0077 0.008 0.84 2.99 1 0.75 0.011 0.011 3 8.6 21.2 0.0053

0.0015 6.4 0.9 2.4 10 2.66 0.27 6.9 1.57 0.199 0.09 0.0072 0.008 0.81 2.9 0.94 0.72 0.011 0.01 2.67 8.16 20.95 0.0052

MINING & OIL 0.0015 24,000,000 7.15 398,400 0.92 250,000 2.4 70,000 10.92 2,600 2.68 359,000 0.27 120,000 6.9 400 1.61 3,294,000 0.204 620,000 0.092 1,680,000 0.0072 20,000,000 0.008 1,000,000 0.84 23,000 2.94 3,826,000 1 19,000 0.75 97,000 0.011 12,100,000 0.011 42,000,000 2.67 272,000 8.16 515,900 21.1 1,098,000 0.0052 7,000,000

36,000 2,829,331 227,140 168,300 26,564 960,820 32,400 2,791 5,238,020 123,760 152,560 148,900 8,000 19,200 11,279,650 18,440 70,170 133,100 460,100 729,760 4,248,866 23,113,670 37,000

-64,020 -104,930 -144,300 24,120 -221,890 -8,400 4,197,560 -712,860 186,102.00 -8,263,660 -

ABS HLDG PDR AC PREF B2R ALCO PREF B FGEN PREF G GLO PREF P LR PREF MWIDE PREF PCOR PREF 2B PCOR PREF 3A PCOR PREF 3B PNX PREF 3A PNX PREF 4 SMC FB PREF 2 SMC PREF 2C SMC PREF 2F

15 505 101.3 107.9 508 1 99.6 1,026 1,038 1,055 102.3 1,023 997 77.9 76.9

15 505 101.3 107.9 508 1 100 1,026 1,050 1,055 102.3 1,029 997 77.9 76.9

15 505 101.3 107.9 508 1 99.6 1,026 1,038 1,055 102.3 1,020 997 77.8 76.9

PREFERRED 15 73,100 505 11,950 101.3 30 107.9 1,500 508 4,010 1 254,000 100 2,200 1,026 15 1,050 1,640 1,055 405 102.3 180 1,029 330 997 50 77.9 7,480 76.9 380

1,096,500 6,034,750 3,039 161,850 2,037,080 254,000 219,200 15,390 1,721,400 427,275 18,414 336,835 49,850 582,671 29,222

-525,000 50,500 -

LR WARRANT

1.2

WARRANTS 1.2 7,000

8,400

ITALPINAS KEPWEALTH MAKATI FINANCE XURPAS

3.87 9.33 2.48 0.76

3.87 9.9 2.48 0.77

3.53 8.94 2.48 0.75

3.7 9.76 2.48 0.77

FIRST METRO ETF

115.9

116

115

MS 3,244,424 379,760 154,430 631,490 397,471,635 454,840 452,060 52,077 10,860,030 34,640 19,450 2,215,850 3,291,792 50,450 546,120 11,915,280 91,168,240 1,062,100 8,000

-721,630 -13,600 -58,243,560 -37,330 97,880 -49,397 -874,810 651,832 5,854,730 12,467,730 -

NET FOREIGN BUYING/(SELLING), PHP

Trading Summary

FINANCIAL

12,166,869

INDUSTRIAL

138,716,288

HOLDING FIRMS

159,320,306

PROPERTY SERVICES

96,233,476 63,555,714

MINING & OIL

119,657,078

GRAND TOTAL

591,789,382

SME

448,000 665,000 8,000 1,004,000

EXCHANGE TRADED FUNDS 115 7,210

1,621,030 6,273,280 19,840 763,580

257,790 -13,680

832,123

72,914

VALUE 1,811.96 (down) 18.43 1,106,470,886.79 FINANCIAL INDUSTRIAL 9,498.32 (down) 110.07 1,183,711,165.04 HOLDING FIRMS 7,409.59 (down) 90.09 8,329,729,490.39 PROPERTY 4,087.80 (down) 11.09 SERVICES 1,532.94 (down) 1.49 907,057,719.266 MINING & OIL 7,485.09 (down) 25.93 1,012,831,266.59 PSEI 7,653.94 (down) 79.73 50,083,290.1879 All Shares Index 4,558.85 (down) 29.14 12,599,420,767.13 Gainers: 67; Losers: 102; Unchanged: 63; Total: 232

PSE says fund-raising activities to hit P150b By Jenniffer B. Austria FUND-RAISING activities at the Philippine Stock Exchange are expected to reach P150 billion in 2020, up 57.5 percent from P95.22 billion this year, according to a top official of the local bourse. PSE president and chief executive officer Ramon Monzon said in an interview Thursday the company would see more active fund-raising activities in the local stock market in 2020 as the exchange with the plan to launch two new products, namely the Real Estate Investment Trust and short selling. Monzon said the exchange was also banking on the initial public offerings of at least four to six companies, the conduct of rights offering and sale of preferred shares offering to finance expansion projects. Monzon, however, conceded that many companies, especially banks, would opt to go to the bond and debt market because of the low interest rate environment. “In 2019, all banks went to bond financing after the Bangko Sentral ng Pilipinas relaxed rules on bond financing plus interest rates are very low. So if you are company, it is cheaper to raise debt capital than equity capital,” Monzon said. Only four companies conducted IPOs in 2019, namely Kepwealth Property Philippines Inc., Axelum Resources Corp., AllHome Corp. and Fruitas Holdings Inc. Meanwhile, after years of delay, the PSE expects real estate investment trusts and short-selling to take off the ground this year, widening the range of product offerings to attract foreign investors. REIT gives investors the option to invest directly in the finished products that are already earning money—such as residential and office units, hotels or shopping malls or even infrastructure ventures, like toll roads and power plants—and not just the property developer itself. REIT aims to attract investors after the law required the distribution of 90 percent of income yearly. The Securities and Exchange Commission is set release the final rules of REIT early next year. Short selling enables investors to hedge risk by borrowing shares from a lender and sell them, betting on a price drop to make profits. It is expected to boost liquidity in the stock market.

Regulator revokes business permit of Robocash Finance THE Securities and Exchange Commission revoked the authority of Robocash Finance Corp. to operate as a financing company for running several branches without the necessary license. SEC’s Corporate Governance and Finance Department issued the order of revocation after establishing that Robocash violated the implementing rules and regulations of Republic Act No. 8556, or the Financing Company Act of 1998. Investigations showed that Robocash operated several branches without the requisite certificate of authority. The findings were validated through onsite audits on March 7, 2019 and July 5, 2019. Robocash also confirmed the same during a hearing on September 20, 2019 and through various letters to the SEC. On November 13, CFDG issued a formal charge against Robocash and ordered the company to show cause why its CA should not be revoked for violation of Republic Act No. 8556. In a verified answer, Robocash admitted establishing and operating branches without the necessary CA. The company, however, argued that it did not maliciously violate FCA IRR by putting up branches without the necessary CA. The CGFD, however, found no merit in the company’s defense. “It may be well to note that Respondent was able to secure thirty-two (32) CAs for thirty-two (32) separate branches. Thus, it is even more appalling that despite being aware of the requirement of the law, Respondent knowingly and willingly committed repeated violations thereof,” the department said. The rules allow the SEC to suspend or revoke an erring financing company’s CA after proper notice and hearing. The SEC may also impose a basic fine of not less than P10,000, plus P100 for each day of continuing violation, but no more than P100,000.00, and other sanctions within its power. Jenniffer B. Austria

World

FRIDAY, DECEMBER 20, 2019 CESAR BARRIOQUINTO, Editor mst.daydesk@gmail.com

China students protest charter change SHANGHAI―A top Chinese university has removed references to “freedom of thought” from its charter, triggering a rare act of student defiance, while two other institutions added language stressing fealty to President Xi Jinping and the Communist Party. A video circulating this week showed students at Shanghai’s Fudan University singing the school song―which extols “academic independence and freedom of thought”-in an apparent protest. Fudan’s charter change was announced by the Ministry of Education on its website late Tuesday and criticism quickly trended on social media before China’s ever-vigilant online censors acted to delete posts and block discussion.

OFFICIAL VISIT. Sweden’s Prime Minister Stefan Lofven (C) visits the National Cemetery in Seoul on December 19, 2019. Lofven arrived in Seoul on December 18 for a three-day official visit. AFP

North Korea workers near deadline to return home S

IN THE MATTER OF THE APPLICATION FOR APPROVAL OF CAPITAL EXPENDITURE PROJECTS FOR YEARS 2018 TO 2020, WITH MOTION FOR PROVISIONAL AUTHORITY ERC CASE NO. 2019-075 RC SORSOGON II ELECTRIC COOPERATIVE (SORECO II), Applicant. x-------------------------------------------------------x

NOTICE OF PUBLIC HEARING TO ALL INTERESTED PARTIES: Notice is hereby given that on 14 October 2019, Applicant Sorsogon II Electric Cooperative (SORECO II) filed an Application dated 30 August 2019, seeking the Commission’s approval of its Capital Expenditure (CAPEX) Projects for years 2018 to 2020, with motion for provisional authority. The pertinent allegations of the said Application are hereunder quoted as follows:

Nuclear-armed North Korea has long made a fortune from the army of citizens it sends abroad to work, mostly in neighboring China and Russia but also as far afield as Europe, the Middle East and Africa. Two years ago, the UN Security Council ordered the countries where they work to send them back as part of the efforts to press Pyongyang over its nuclear and ballistic missile programs, with complete compliance required by this Sunday. But analysts say Beijing and Moscow are circumventing the measure by issuing North Korean workers with alternative visas to ensure a continued supply of cheap labor. Longstanding allies of Pyongyang, the two called this week for several sanctions-including the ban―to be eased, with nuclear negotiations between the United States and North Korea at a deadlock. China was estimated to have 50,000 North Korean workers when the resolution was passed, and witnesses and reports say North Koreans continue to enter the country to work in borderregion factories. At Unban, a North Korean restaurant near Pyongyang’s

sprawling embassy in Beijing, a waitress told AFP she had worked there for four years and expected to continue. “No one has told us that the restaurant will close,” she added. “We had two new colleagues who came last month.” Foreign ministry spokeswoman Hua Chunying said last week that China “earnestly” implements all UN resolutions, but declined to say how many North Koreans were working in the country. Moscow’s ambassador to Pyongyang Alexander Matsegora said in September that the number working in Russia had already been cut from more than 30,000 to less than 10,000. “After December 22, there will not be a single North Korean in Russia with a work visa,” he told the RIA Novosti news agency. But the key sanctions text -paragraph 8 of resolution 2397 -does not specify visa types, referring more broadly to “all DPRK nationals earning income”. And Kang Dong-wan, a professor at South Korea’s Donga University, told AFP: “Since Russia can’t issue new work visas due to sanctions, the North Korean workers are going there on tourist visas.” AFP

THE APPLICANT 1.

SORECO II is an electric cooperative, duly organized and existing under Philippine laws, with principal office at Brgy. Buhatan, Sorsogon City;

It holds an exclusive franchise from the National Electrification Commission to operate an electric light and power distribution service in the City of Sorsogon and six (6) municipalities of the Province of Sorsogon, namely: Donsol, Pilar, Castilla, Gubat, Barcelona and Pieto Diaz. LEGAL BASES FOR THE APPLICATION

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17

Emergency as bush fires rage in Australia

BUXTON-A state of emergency was declared in Australia’s most populated region on Thursday, as a record heat wave fanned unprecedented bush fires. About 100 fires have been burning for weeks in drought-plagued New South Wales with half of them uncontained, including a “mega-blaze” ringing Sydney, covering Australia’s biggest city in a haze of toxic smoke. NSW Premier Gladys Berejiklian said the seven-day state of emergency, the second declared in the state since the bushfire season began early in September, was due to “catastrophic weather conditions”. Temperatures are expected to near 50 degrees celsius (122 Fahrenheit) in South Australia and peak at 45 degrees in the western suburbs of Sydney, while turbulent winds of up to 100 kilometers are expected to fan bush fires burning ever-closer to the city. The country experienced its hottest day on record Tuesday, with the average nationwide temperatures reaching 40.9 degrees Celsius (105.6 degrees Fahrenheit), which is expected to be surpassed as an intensifying heat wave spreads across the country. AFP

PROJECT TITLE

Installation of 20 MVA 69/13.2 kV Substation at Sorsogon City Customer Service Drops and Metering Capacity Equipment Requirement Distribution Transformer Requirement Capacity per KVA Capacity Secondary Lines Requirement Protective Device Requirements at Safety SORECO II Distribution Line Extension and Conversion of Primary Capacity Distribution Lines Safety/ Rehabilitation/Uprating of Primary Reliability Dist. Lines Underground Distribution Lines Reliability Project System Loss Replacement of Defective KilowattReduction hour Meters Rural Rural Electrification Project Electrification Reliability Supervisory Control and Data Improvement Acquisition Project -Phase 2 Meter Reading, Billing and Collection Non-Network System Project Educational and Skills Enhancement Non-Network Project Management Information System Non-Network Project Materials, tools and equipment Non-Network Projects Non-Network Procurement of Vehicles Building Renovation and Construction Non-Network Projects TOTAL

PROJECT COST (PhP)

2018

22,061,000.00

2018-2020

109,270,649.58

2018-2020

9,879,439.03

2018-2020

39,303,094.79

2018-2020

28,539,913.78

2018-2019

53,988,459.55

2019

116,864,890.31

2018-2020

111,768,103.33

2018-2020

14,715,665.80

2018

35,746,213.82

2019

3,505,400.00

2018-2020

23,154,571.48

2018-2020

2,393,068.47

2018-2020

3,624,286.40

2018-2020

32,815,928.02

2018-2020

70,876,862.00

2018-2020

58,484,480.71 736,992,027.07

CAPITAL EXPENDITURE PLAN 5.

The proposed projects are discussed in detail in SORECO II’s Capital Expenditure Plan for Years 2018 - 2020 with technical and financial analysis, justifications and supporting data presented in ERC-specified templates.

Financing Plan. The capital projects will be financed partly with the cooperative’s internally-generated Reinvestment Fund for Sustainable Capital Expenditure (RFSC) and partly with funds to be acquired through loans from the National Electrification Administration (NEA) and other lending institutions; while the electrification projects will be funded from government subsidy. Estimated project costs are based on the NEA Price Index for 2018, specifically on Projects 1 and 2, and 3.1% Inflation Rate.

FINANCIAL AND ECONOMIC EVALUATION

The table below shows the CAPEX Plan financiers and desired borrowings, to wit: Source of Funds Subsidy from Government Financing Institutions: REFC, NEA, DBP, Suppliers, etc. Total

Project Cost to be Financed (PhP)

2018 (PhP)

2019 (PhP)

2020 (PhP)

35,746,213.82

701,245,813.25

178,276,140.21

306,056,408.56 216,913,264.48

736,992,027.07

214,022,354.03

306,056,408.56 216,913,264.48

Cash Flow. SORECO II’s cash flow is basically the ultimate basis for determining whether it is viable to pursue and implement the 3-year CAPEX Plan without necessarily causing a significant increase in the cooperative’s electricity rates. Further, the whole capital expenditure structure also considered previous indebtedness incurred in financing past capital projects outstanding. Rate Impact. The CAPEX Plan was envisioned to bring the most value to SORECO II’s member-consumers at the most reasonable and justifiable electricity rates, such that implementing the projects will have a reasonable rate impact per kWh, as shown in the Table below, to wit:

Forecasted energy sales, kWh Cash balance beginning, PhP, excess/(shortfall) CASH INFLOWS Current year collection @PhP0.6686/kWh Loan proceeds from financial institutions, PhP Government subsidy (if any), PhP 50% of income on leased properties Total Cash Inflows, PhP Available cash for disbursement CASH OUTFLOWS CAPEX requirement Old debt (old amortization) New amortization (new CAPEX), PhP ERC Permit Fee, PhP Total Cash Outflows, PhP Cash balance ending, PhP, excess/(shortfall) Excess/(shortfall) on RFSC, PhP/kWh

2018 117,939,025.22

2019 131,566,097.15

2020 146,904,500.64

TOTAL 396,409,623.01

12,278,312.47

(121,293,431.66)

(240,129,050.97)

(349,144,923.80)

78,854,032.26

87,965,092.55

98,220,349.13

265,039,473.95

35,746,213.82 312,764.50 114,913,010.58

312,764.50 88,277,857.05

312,764.50 98,533,113.62

35,746,213.82 938,293.49 301,723,981.25

214,022,354.03 20,578,920.55

306,056,408.56 20,055,076.40

216,913,264.48 10,207,210.56

736,992,027.07 50,841,207.51

1,605,167.66 236,206,442.24 (121,293,431.66) (1.06)

2,295,432.02 328,406,908.02 (240,129,050.97) (2.72)

1,626,849.48 228,747,324.52 (130,214,210.90) (1.32)

5,527,440.20 793,360,674.78 (491,636,693.53) (1.63)

Further, applicant also considered a long term as well as a short term loan for the instant CAPEX Plan to have least rate impact to the consumers. For Years 2018, 2019 and 2020, there is a minimal indicative additional rate requirement to cover the cost of the proposed projects, new loan annual amortization, and ERC permit fee, as shown in the Tables blow, to wit:

2018 117,939,025.22 12,278,312.47

2019 2020 2024 (Year 5) TOTAL 131,566,097.15 146,904,500.64 227,669,748.00 1,428,948,897.01 37,281,928.53 (10,481,252.70) (7,707,626.04) (67,655,172.83)

78,854,032.26 178,276,140.21 35,746,213.82 312,764.50 293,189,150.79

87,965,092.55 98,220,349.13 152,219,993.51 306,056,408.56 216,913,264.48

955,395,232.54 701,245,813.25 35,746,213.82 312,764.50 312,764.50 312,764.50 2,502,115.96 394,334,265.61 315,446,378.10 152,532,758.01 1,694,889,375.57

214,022,354.03 20,578,920.55 20,929,064.30

306,056,408.56 216,913,264.48 20,055,076.40 10,207,210.56 41,858,128.60 41,858,128.60 35,930,070.32 71,860,140.64 25,464,942.50

376,883.38

376,883.38 538,951.05

376,883.38 538,951.05 381,974.14 255,907,222.26 404,815,518.31 367,601,495.35 37,281,928.53 (10,481,252.70) (52,155,117.25) 0.13 (0.03) (0.17)

35,930,070.32 50,929,885.00

63,904,474.57 209,290,643.00 359,300,703.19 254,649,425.00

381,974.14 87,241,929.46 65,290,828.55 0.43

1,884,416.90 2,694,755.27 1,909,870.69 893,634,288.62 801,255,086.96 0.47

LONG TERM LOAN (10 YEARS) AT 6.5% INTEREST Forecasted energy sales, kWh Cash balance beginning, PhP, excess/(shortfall) CASH INFLOWS current year collection @PhP0.6686/kWh loan proceeds from financial institutions, PhP government subsidy (if any), PhP 50% of income on leased properties Total Cash Inflows, PhP Available cash for disbursement CASH OUTFLOWS CAPEX requirement old debt (old amortization) new amortization Capex 2018, PhP new amortization Capex 2019, PhP new amortization Capex 2020, PhP ERC Permit Fee, PhP Amortization ERC Permit Fee, PhP (2018) Amortization ERC Permit Fee, PhP (2019) Amortization ERC Permit Fee, PhP (2020) Total Cash Outflows, PhP Cash balance ending, PhP, excess/(shortfall) Excess/(shortfall) on RFSC, PhP/kWh

2018 117,939,025.22 12,278,312.47

2019 2020 2029 (Year 10) TOTAL 131,566,097.15 146,904,500.64 380,921,178.00 3,167,724,641.01 841,206,743.21 46,223,422.90 22,548,569.83 147,047;411.04

78,854,032.26 178,276,140.21 35,746,213.82 312,764.50 293,189,150.79

87,965,092.55 98,220,349.13 254,683,899.61 2,117,940,694.98 306,056,408.56 216,913,264.48 701,245,813.25 35,746,213.82 312,764.50 312,764.50 312,764.50 4,065,938.44 394,334,265.61 315,446,378.10 254,996,664.11 2,858,998.660.49

214,022,354.03 20,578,920.55 12,145,737.06

306,056,408.56 216,913,264.48 20,055,076.40 10,207,210.56 24,291,474.13 24,291,474.13 20,851,251.66 41,702,503.33 14,778,037.45

218,716.25

246,965,727.90 46,223,422.90 0.16

20,851,251.66 29,556,074.90

736,992,027.07 63,904,474.57 242,914,741.30 417,025,033.28 295,560,748.97

218,716.25 312,768.77

218,716.25 2,187,162.48 312,768.77 3,127,687.75 221,670.56 221,670.56 2,216,705.62 371,785,695.77 308,645,645.53 50,628,997.12 1,763,928,581.04 22,548,569.83 6,800,732.57 204,367,666.98 1,095,070,079.45 0.06 0.02 0.80 0.38

SUBMISSION OF DOCUMENTARY AND PRE-FILING REQUIREMENTS 9.

IMPLEMENTATION YEAR

Capacity

Indians rally against citizenship law

Forecasted energy sales, kWh Cash balance beginning, PhP, excess/(shortfall) CASH INFLOWS current year collection @PhP0.6686/kWh loan proceeds from financial institutions, PhP government subsidy (if any), PhP 50% of income on leased properties Total Cash Inflows, PhP Available cash for disbursement CASH OUTFLOWS CAPEX requirement old debt (old amortization) new amortization Capex 2018, PhP new amortization Capex 2019, PhP new amortization Capex 2020, PhP ERC Permit Fee, PhP Amortization ERC Permit Fee, PhP (2018) Amortization ERC Permit Fee, PhP (2019) Amortization ERC Permit Fee, PhP (2020) Total Cash Outflows, PhP Cash balance ending, PhP, excess/(shortfall) Excess/(shortfall) on RFSC, PhP/kWh

SORECO II’s capital expenditure projects subject of the instant application are summarized hereunder, as follows: PROJECT TYPE

NO.

IN BRIEF

NEW DELHI―Indians defied bans on assembly Thursday in cities nationwide as anger swells against a citizenship law seen as discriminatory against Muslims, following days of protests, clashes and riots that have left six dead. Two major Indian telecom firms also said Thursday that they have cut mobile services in parts of New Delhi on government orders. The new law eases citizenship rules for people fleeing persecution from three neighboring countries, but excludes Muslims, stoking accusations that Prime Minister Narendra Modi wants to reshape India as a Hindu nation and creating unease abroad. Following days of protests that have seen four people shot dead, dozens injured, hundreds arrested and vehicles torched, authorities have banned gatherings in areas that together are home to hundreds of millions of people. They included Uttar Pradesh state, areas of the northeast and parts of Bihar, New Delhi, Hyderabad, Bangalore and Chennai, all of which have seen protests in recent days, and in the case of the capital violence. AFP

Pursuant to Republic Act No. 9136 otherwise known as the Electric Power Industry Reform Act of 2001 or the EPIRA, ERC Resolution 26, Series of 2009 and other laws and rules, and in line with its mandate to provide safe, quality, efficient and reliable electric service to its electricity consumers, SORECO II seeks approval, confirmation and authority from this Honorable Commission to implement its Capital Expenditure Projects for Years 2018 to 2020. THE CAPITAL EXPENDITURE PROJECTS

around himself that includes calls for adherence to a vaguely defined “Xi Jinping Thought”, recalling the days of Communist founder Mao Zedong. Xi’s government has throttled activists and other critics while pushing Marxist dogma throughout Chinese society, from politics to culture and education. But even Marxist students have faced a backlash, as police cracked down on some who supported a labor rights movement last year. The risks of defying Xi have prevented major public pushback. But Fudan, one of China’s most selective institutions of higher learning, is also among its most liberal, with a student body proud of its reputation for relative academic freedom. AFP

SHORT TERM LOAN (5 YEARS) AT 6.5% INTEREST

Republic of the Philippines ENERGY REGULATORY COMMISSION San Miguel Avenue, Pasig City

EOUL―The waitress at the North Korean restaurant in Beijing has no concerns about a deadline this weekend for Pyongyang’s overseas workers to be returned. “I’ll go home for the holidays,” she says. “But I’ll come back.”

Besides removing “freedom of thought”, it adds “arming the minds of teachers and students with Xi Jinping’s new era of socialist ideology with Chinese characteristics”. It also obliges faculty and students to adhere to “core socialist values” and build a “harmonious” campus environment -- a code phrase for the elimination of anti-government sentiment. The ministry announced similar pro-government changes for Nanjing University in eastern China, and Shaanxi Normal University in the north earlier this month, although neither institution had referenced freedom of thought previously. Xi took office in 2012 and has implemented a campaign to increase the Communist Party’s grip and build a personality cult

In compliance with the documentary requirements under ERC Resolution 26, Series of 2009 and pre-filing requirements under the ERC Rules of Practice and Procedure, SORECO II is submitting herewith the following documents which are being made integral parts hereof as follows, to wit: Markings Description of Document Annex”A” Capital Expenditure Plan for Years 2018 to 2020 Annexes “B” Affidavit of Posting; and “B-1” Notice on the Proposed Projects Affidavit of undertaking that the corresponding application for Annex “C” approval of concerned agencies shall be filed, when required Judicial Affidavit in Support of the Motion for Provisional Annex “D” Authority Proof of furnishing of copies of the Application to the Annex”E” Sangguniang Panlungsod of Sorsogon City and Sangguniang and series Panlalawigan of Sorsogon Proof of publication of the Application in a newspaper of Annex “F” general circulation in SORECO II’s franchise area or where and series it principally operates. ALLEGATIONS IN SUPPORT OF THE MOTION FOR PROVISIONAL AUTHORITY

10. SORECO II repleads the foregoing allegations as may be material herein; 11. As shown in the Table of Projects, some of the projects required implementation during the planned schedule of implementation, while some would require implementation while the instant application is still pending evaluation of the Honorable Commission; 12. Further, unforeseen situations or occurrences may arise which might necessitate the immediate implementation of any of the proposed projects; 13. In view thereof, SORECO II respectfully moves that projects implemented within their planned implementation years or those implemented as they become necessary or urgent under prevailing circumstances, even while the instant application is pending, be confirmed as valid justified, to enable the cooperative to deliver a safe, more reliable and efficient electric service to electric consumers. PRAYER WHEREFORE, premises considered, applicant Sorsogon II Electric Cooperative (SORECO II) respectfully prays of this Honorable Commission that: 1.

Upon initial review of the instant Application and pending evaluation hereof, the Honorable Commission confirm and approve the implementation of the projects within their respective implementation years, or as may be deemed necessary and urgent under prevailing circumstances; and

After due notice and hearing, the Capital Expenditure Projects for Years 2018 to 2020 be confirmed and approved accordingly. Other reliefs, just and equitable in the premises, are likewise prayed for.

The Commission has set the Application for determination of compliance with the jurisdictional requirements, expository presentation, pre-trial conference, and presentation of evidence on 16 January 2020 (Thursday) at nine o’clock in the morning (9:00 A.M.) at SORECO II’s Principal Office at Brgy. Buhatan, Sorsogon City. All persons who have an interest in the subject matter of the instant case may become a party by filing with the Commission a verified Petition to Intervene at least five (5) days prior to the initial hearing and subject to the requirements under Rule 9 of the 2006 Rules of Practice and Procedure, indicating therein the docket number and title of the case and stating the following: 1)

The petitioner’s name and address;

The nature of petitioner’s interest in the subject matter of the proceeding and the way and manner in which such interest is affected by the issues involved in the proceeding; and

A statement of the relief desired.

All other persons who may want their views known to the Commission with respect to the subject matter of the case may file their Opposition or Comment thereon at any stage of the proceeding before Applicant rests its case, subject to the requirements under Rule 9 of the 2006 Rules of Practice and Procedure. No particular form of Opposition or Comment is required, but the document, letter, or writing should contain the following: 1)

The name and address of such person;

A concise statement of the Opposition or Comment; and

The grounds relied upon.

All such persons who wish to have a copy of the Application may request from Applicant that they be furnished with the same, prior to the date of the initial hearing. Applicant is hereby directed to furnish all those making such request with copies of the Application and its attachments, subject to the reimbursement of reasonable photocopying costs. Any such person may likewise examine the Application and other pertinent records filed with the Commission during the standard office hours. WITNESS, the Honorable Chairperson and CEO AGNES VST DEVANADERA and the Honorable Commissioners CATHERINE P. MACEDA, and PAUL CHRISTIAN M. CERVANTES, Energy Regulatory Commission, this 21st day of October 2019 in Pasig City. JOSEFINA PATRICIA A. MAGPALE-ASIRIT Oversight Commissioner for Legal Service

M. Standard – Dec. 20 & 27, 2019

RAMON L. TOMELDAN Editor

FRIDAY, DECEMBER 20, 2019

Motoring Uber’s test of an autonomous vehicle is one of the few on the road, despite early promises they would be broadly deployed this year.

DRIVER-LESS CARS

Lofty promises unfulfilled

HE first driverless cars were supposed to be deployed on the roads of American cities in 2019, but just a few days before the end of the year, the lofty promises of car manufacturers and Silicon Valley remain far from becoming reality.

Recent accidents, such as those involving Tesla cars equipped with Autopilot, a driver assistance software, have shown that “the technology is not ready,” said Dan Albert, critic and author of the book “Are We There Yet?” on the history of the American automobile. He questioned the optimistic sales pitch that autonomous cars would help reduce road deaths—40,000 every year in the United States, mostly due to human error—because these vehicles themselves have caused deaths. As a result, self-driving maneuvers in the technology-laden vehicles are limited to parking, braking, starting or driving in a parking lot. Are autonomous cars on the roads? Autonomous vehicles have only been deployed in limited test projects in a few cities. “When you’re working on the large scale deployment of mission critical safety systems, the mindset of ‘move fast and break things’ certainly doesn’t cut it,” said Dan Ammann, CEO of self-driving car company Cruise. General Motors, Cruise’s parent company, had promised a fleet of autonomous vehicles would be on the roads in 2019. There are driverless shuttles running on specific routes on university campuses, and Waymo, Google’s autonomous car division, has been offering robotaxi

service “Waymo One” for about a year around Phoenix, Arizona. However, there is a trained driver in the cars to take control in case of emergency. Waymo is expanding that program, and since the summer it has offered truly driverless service in some Phoenix suburbs that is free in the afternoon and sometimes in the evening. The company is also teaming up with ride-hailing app Lyft to expand to more areas. Is the technology ready? “Automation may be used in areas such as closed campuses, where speeds are low and there is little or no interaction with other vehicles, pedestrians or cyclists or inclement weather,” said Sam Abuelsamid, engineer and expert at Navigant Research. The big problem is “perception”: the software’s ability to process data sent by the motion sensors to detect other vehicles, pedestrians, animals, cyclists or other objects, and then predict their likely actions and adapt accordingly, he said. And that part is key, said Avideh Zakhor, engineering and computer science professor at the University of CaliforniaBerkeley. “The perception part is not solved yet. The most advanced publicly available is 80-85 percent (reliable). That means that 15 percent of the time, it’s going to hit ob-

jects and kill and destroy them,” she said. - What are the obstacles? Laws in place in some 40 US states only allow testing of these vehicles. The industry players hope the accumulation of thousands of miles traveled by selfdriving vehicles will reassure authorities the technology is safe. Authorities also will have to adapt road signage to these smart cars. Contacted by AFP, the main road transportation regulator, the National Highway Traffic Safety Administration (NHTSA), declined to provide a status update. When will autonomous cars be on the road? Not for a few years. “We should see the deployment of autonomous fleets, likely at a regional level, over the next five years,” according to Aurora, a start-up specializing in autonomous driving supported by Amazon and Fiat Chrysler. But Navigant’s Abuelsamid said driverless vehicles should be running soon on a small scale. “We may see some limited numbers in a few locations by mid- to late-2020 with increasing deployments in 2021 and beyond,” he said. Elon Musk, the founder of Tesla, said in late October that his cars will be “able to drive from one’s house to work, most likely without interventions,” although “it will still be supervised.” Albert, the analyst, told AFP that Tesla may have overpromised, and he cautions that customers who paid $3,500 in advance for the promised fully autonomous features “effectively gave the company a no-interest loan.” AFP

Isuzu breaks ground for LU dealership ON TRACK for its “Road to 50 Dealerships”, Isuzu Philippines Corporation (IPC) formally held the groundbreaking ceremony for the new Isuzu dealership in La Union. IPC led the ceremonial installation of the time capsule on the 7, 300-sqm lot along the national highway in Barrio Paringao in Bauang, La Union. The facility is expected to be completed mid-2020. The Isuzu La Union dealership features the new design guidelines for Isuzu dealerships, which has a cleaner and more streamlined interior and façade. Benigno Garcia, Chairman and President of One Maharlika Motor Sales and Services Corporation will oversee the operations of this contemporary designed dealership. He added that the 3, 000 sqm showroom can display 4 light commercial vehicles (LCVs) and 2 commercial vehicles (CVs), while the service area can accommodate up to 5 LCVs and 4 trucks in its service bays. Isuzu La Union dealership also marks a new partnership between IPC and One

Maharlika Motor Sales and Services Corporation. IPC President Hajime Koso welcomed the new partnership, as this would pave the way for IPC to reach more Filipinos. “We at Isuzu always look for ways to connect and reach out to our customers. Today marks the construction of our new dealership as we aspire to serve our customers here in La Union. Isuzu La Union will be a place of finest Isuzu vehicles, genuine Isuzu parts, and exceptional services,” Koso said. Garcia announced that Isuzu La Union will offer the full roster of brand-new Isuzu LCVs and CVs. “By the time we open in mid-2020, we will offer Isuzu LCVs such as mu-X and the D-MAX, as well as our trucks like N-Series, F-Series, C&E-Series, and of course, the newly introduced Traviz, which is ideal for small and medium enterprises.” La Union Governor Francisco Emmanuel “Pacoy” R. Ortega III declared that by 2025, La Union would become “the heart of agritourism in northern Luzon.”

Top executives of IPC and One Maharlika Motor Sales and Services Corp. hold the groundbreaking rites for the newest dealership of Isuzu in Bauang, La Union.

Petron, AAP seal partnership PETRON Corporation has forged a partnership with the Automobile Association Philippines (AAP), the country’s oldest and largest auto club, naming the oil leader as AAP’s official fuel partner. The partnership was formalized through a MOA signing last December 6 at the AAP headquarters in Quezon City. Petron will provide AAP members and employees a co-branded Petron-AAP Petron Value Card (PVC), which will allow them to avail of a special discount for every liter of Petron Blaze 100, XCS, Xtra Advance, Turbo Diesel, and Diesel Max. This, alongside privileges at partner establishments, free towing and roadside assistance, and year-round personal accident insurance.

Petron and AAP share a long and deep commitment to promoting road safety through their respective programs. Petron’s Lakbay Alalay is the longestrunning motorist assistance program in the country, spanning more than three decades. It also recently launched its Fuel Wise advocacy which aims to empower the motoring public to become more responsible and informed with their choices. For its part, AAP also has a longrunning campaign that raises awareness on proper road habits. AAP members and employees are guaranteed a safe, smooth, and efficient drive with all Petron fuels formulated with the same TriAction benefits that guarantees better power, better efficiency, and better engine protection. Petron Marketing Division Head Lionel Perkin Chai (second from right) and Retail Sales Regional Manager Michael Flores (rightmost) are joined by AAP Chief Operating Officer Mark Desales (third from left), Deputy Chief Operating Officer Malcolm Pausanos (second from left), and Business Development Manager Kristine Leonardo (leftmost).

Year End Report

FRIDAY, DECEMBER 20, 2019

advertise@manilastandard.net

Economic managers cut growth forecast for 2019 By Julito G. Rada

HE interagency Development Budget Coordination Committee on Wednesday reduced the upper end of its 2019 economic growth forecast to a range of 6 percent to 6.5 percent from the previous estimate of 6 percent to 7 percent amid the lingering trade tensions in advanced economies that are impacting global growth.

It retained the growth forecast of 6.5 percent to 7.5 percent from 2020 to 2022. Meanwhile, the Asian Development Bank on Wednesday cut its economic growth forecasts in developing Asia this year and next year as growth as external and domestic factors are expected to weigh on China and India. The ADB said in a supplement to its Asian Development Outlook 2019 Update that the gross domestic product in the region would expand 5.2 percent in both 2019 and 2020, down from the September forecast of 5.4 percent growth this year and 5.5 percent next year. “While growth rates are still solid in developing Asia, persistent trade tensions have taken a toll on the region and are still the biggest risk to the longerterm economic outlook,” ADB chief economist Yasuyuki Sawada said in a statement. “Domestic investment is also weakening in many countries, as business

sentiment has declined,” he said. The ADB expects the Philippine economy to grow 6 percent in 2019 and 6.2 percent in 2020. Global trade tensions are expected to affect Philippine exports. The DBCC reduced the goods export growth target to 1 percent for 2019 and 4 percent for 2020 because of the unresolved trade row between the US and China. The assumptions for 2021 and 2022 were retained at 6 percent as global economic activity is expected to recover in the medium-term. “Assumptions in services exports growth were maintained at 9 percent from 2019 to 2022. The services imports growth projection for 2019 was adjusted downward to 2 percent in 2019, and ﬁxed at 4 percent in 2020 and 5 percent in 2021 and 2022,” it said. Revenue collections are projected to reach P3.15 trillion in 2019, equivalent to 16.8 percent of the gross domestic product, while disbursements are target-

ed to hit P3.76 trillion in 2019 equivalent to 20 percent of GDP. Revenues in 2020 are projected to increase to P3.49 trillion, equivalent to 16.6 percent of the GDP, while disbursements are programmed at P4.16 trillion, or 19.8 percent of GDP. Projected revenue and disbursement are estimated to rise to P4.31 trillion (17 percent of GDP) and P5.12 trillion (20.2 percent of GDP), respectively, by 2022. “The comprehensive tax reform program can help ensure a reliable revenue base and, more importantly, enhance the modernization of our economy. Quickly completing the passage of the remaining tranches of the tax reform will ensure a steady revenue ﬂow and equitable sharing for the government’s social and infrastructure programs while securing ﬁscal stability long into the future,” the

DBCC said. “The speedy passage of the Corporate Income Tax and Incentives Rationalization Act will help attract additional investment into the country and the alcohol and e-cigarette excise tax adjustments will substantially bridge the funding gap for the Universal Health Care program,” it said. Given the revenue and disbursement program adopted by the DBCC, the deficit target was maintained at 3.2 percent of GDP from 2019 to 2022 to sustain the government’s investments in infrastructure and human capital development. “Accounting for the aforementioned factors, the GDP growth target is projected at 6 percent to 6.5 percent in 2019 and 6.5 to 7.5 percent in 2020 to 2022,” it said. The DBCC said inﬂation in 2019

would likely settle at an average 2.4 percent, lower than the previous assumption of 2.7 percent to 3.5 percent. Inﬂation forecast for 2020 to 2022 was kept at 2 to 4 percent. The peso-dollar exchange rate assumption was revised to a range of P51 to P52 against the greenback in 2019 and from P51 to P54 against the dollar from 2020 to 2022. “We are committed to building a more effective and competitive economy, one that will provide good jobs to our workers, improve the living conditions of the poor, and create more opportunities for all Filipinos,” the DBCC said. The DBCC is composed of the Department of Budget and Management, Department of Finance, the National Economic and Development Authority and the Bangko Sentral ng Pilipinas.

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Year End Report

Clark Development Corporation: Building a better hub for Filipinos By Charles Dantes

N RECENT years, Clark made its mark as a haven of business, leisure, and tourism in the heart of Central Luzon. As a subsidiary of the Bases Conversion and Development Authority, Clark Development Corporation continued effort for building a better hub for Filipinos looking to invest, relax and play, CDC improved the already thriving Freeport into an asset to the tourism of the country. Clark houses 4,400 hectares for main zone and a 27,600-hectare sub zone with a 9,450-hectare New Clark City as the next big thing for development. As of September 2019, more than 1,123 locators moved in Clark, creating jobs and producing 135,114 workers. With a record of $4.85 billion worth of exports and 154.6 billion peso of investments, CDC is breaking barriers as the top destination in economic growth.

Now, Clark has already breached the historic billion-peso mark in terms of net income, far from 1-million peso net from two decades ago, CDC is looking to double the revenue of the place with a master plan for Clark that hovers around the balanced development of areas considered apt for high-end industrial and IT enabled industries, tourism investment and aviation and logistics enterprises. “We are looking on how to calibrate the land use and the business mix of industrial, commercial and residential pockets align for development with better trafﬁc ﬂow,” said CDC President and CEO Noel Manankil. After Central Luzon has been hit by the disastrous eruption of Mt. Pinatubo in

From left: Engr. Alveen H. Tabag, VP for Engineering Services, Noel G. Tulabut, Manager Communications Division, Noemi B. Julian, Manager Tourism & Promotions Division and President & CEO Noel F. Manankil. Peter Paul Duran 1991, Luzon sank into an oblivion of misfortune and sorrow. More than 2.1 million individuals are affected by the aftermath and P3.2 billion worth of damage to public infrastructures were left by the catastrophic event. In less than three decades, CDC turned things around much to the satisfaction of its people. “We are blessed for the past administrations and managements did not waste anything while the right foundation and building blocks for us,” Manankil added. “In the last ﬁve years especially the past three years we never move this fast (economic growth)”. An International Sport Sanctuary Witnessed by the successful celebration of the 30th Southeast Asian Games, Clark received high regards from the athletes and organizers for the high-end appeal of venue and handling of the events. The newly-built sports facilities in New Clark City handled different games, making rounds on social media sites with

world-class and modern amenities. “It just showed our preparations from the past years building up to this day, making SEA games another sporting event just like the other but bigger,” Manankil shared. It showed in the past were around 30 sports occasion for the whole year, as of December, the whole 2020 has been fully booked for a different sporting event with more than 200 different types of games listed for the next year. Also last November, CDC was crowned as the top Sports Tourism Destination from the Philippine Sports Tourism Awards, their second time receiving the same recognition back from 2015. “This year we got the award right now we are looking at more international Asian sports since we have the airport that will be operational soon.” told CDC Tourism Manager Noemi Julian. Moving Forward with Community CDC is focusing as a venue for MICE Events (Meetings, Incentives, Conven-

tions, and Exhibition) for the hotels and venues inside Clark. Now, around 3000 rooms are ready to be occupied from different hotels aiming to reach 5000 rooms in the next few years. “We will be opening hotels for next year and we invest security, and we recently awarded and upgrade of CCTV with our control center we will double our capacity in two months,” Manankil commented. CDC also boasts a low crime rate inside Clark; offenses ranging from simple trafﬁc violations and minor misdemeanor are the usual violations recorded. “We never move alone, we always move with our stakeholders mostly local government units helping our mission to continuous improvement”, said Manankil. Other than their business growth, CDC has been helping people around Freeport especially the indigenous people. With the belief of education as the key for the future, Clark developed the Pagsasarili Educational Program for the Aetas with the help of OB Montessori. “We partnered with different companies and LGUs to add more Pagsasarili Facility in the city,” shared Manankil Also the amiable CDC head said that the program is part of the Corporate Social Responsibility (CSR) project of CDC and it will cover a total of 50 Aeta children from age three to four. They will be taught of useful information on cognitive learning and human and social development in their formative years. Along with this, their parents and other adults will also be taught of practical and livelihood skills as they guide their kids during the entire duration of the project. After another successful year for the Clark Freeport, CDC is ready to enter the next decade as the leader in net income for the years to come. Expect the whole CDC team and BCDA to remain vigilant in transforming the country as they move as one.

This premier tourist destination works like a dream By Peter Paul Duran THIS gem in Central Luzon is the perfect place to do anything under the sun, shade, and surf (yes, even to our surprise). Read on to know why. Situated at a prime location just within reach from the bustling metro and just far enough to know you’ve left your stress in Manila, Clark is a city with limitless ambition, built for people so that “life is always well lived.” And we got the chance to experience the revamped Clark brand in one of its major investment districts: the Clark Freeport Zone. Goodness, I was already sold knowing it’ll take us only an hour and 45 minutes tops to reach Clark Freeport in Pampanga. That is practically the same amount of time spent traveling from Ayala in Makati to Ortigas when you are stuck in the gridlock of rush-hour trafﬁc. But there are more reasons to show why this former military facility and preferred area for business and career growth is also the next biggest go-to place for barkada getaways, family staycations, food crawls and premier MICE destination. Thanks to our partners in the Clark Development Corporation, which manages the Freeport Zone, we got to experience what Clark has to offer, making it a place like no other in the Philippines. Here are the places you must visit while in Clark. Clark Museum and 4D Theater

The initial stop of our two-day trip is a fitting first experience for us in Clark as we were in for a heightened museum experience inside the Clark Museum, which showed the rich culture and history of Pampanga. We also garnered a unique perspective on how the former military base transformed following the 1991 Mt. Pinatubo disaster thanks to a 20-minute documentary film entitled “ Risen from the Ashes” inside a Clark Freeport’s 48-seater state-of-the- art 4D Theater. Location: S. Osmeña St., Clark Freeport Zone Operational Days and Hours: Tues-Suns 9AM-4PM Salt & Crab Our first meal in Clark was sumptuous, filling and definitely delicious. The delectable lunch buffet we partook in at Salt & Crab restaurant featured Asian favorites such as yang chow rice, sweet and sour pork, teriyaki chicken, succulent braised pork, and Korean bulgogi japchae. Their dessert section also featured Pinoy favorites such as bico among many other sweet delicacies. But their array of sea food specialties is to die for. Location: M.A. Roxas Highway,Clark Freeport Zone Operational Days and Hours: Opens Daily 11:00AM11:00PM

Royce Hotel and Casino We checked in at the beautiful Royce Hotel and enjoyed a scrumptious breakfast buffet the following day. Set in a property designed to exemplify modern elegance, Royce Hotel and Casino has everything for the perfect trip – whether for business or leisure. Constantly evolving, Royce strives to provide its guests novel experiences, while they are immersed in comfort. Not surprising that their slogan #AllWinsAtRoyce rings true. Location: Manuel A. Roxas Highway, Corner Ninoy Aquino Avenue, Zone, Clark Freeport Zone Operational Days and Hours: Always Open Apha Aviation Group Alpha Aviation Group is a leading provider of aviation training solutions, working with airlines across the globe and offering a wide range of services. And this is where we got the chance to be pilots for a day, well, at least virtually though. AAG specializes in cadet assessment and selection, type ratings and ﬂagship ab-initio cadet programs. All these, they say, “are tailored and optimized to the operational needs of its partner airlines.” Home to state-of-the-art facilities for next-level aviation training, this school is literally, and ﬁguratively, on the rise. Location: 1092 Jose Abad Santos Ave, Clark Freeport Zone Operational Business Hours: 8:30AM - 5:30PM

Clark Sun Valley Country Club We were glad that we went to the Clark Sun Valley golf course late in the afternoon as it was simply awe-inspiring to see the sun hide behind the mountain range in what could be the best sunset any golfer could see while on the fairways. You, too, could experience golﬁng at 300 ft. above sea level, with a majestic view of Zambales Mt. Ranges with the he highest peak in Clark as your backdrop. Location: T-304 Jose Abad Santos Avenue, Clark Freeport Zone Operational Days and Hours: Monday - Sunday 9am– 5pm

Wooden Table If you’re looking for authentic Filipino cuisine in Clark then this restaurant has all the right ﬁx for you. We downed classic Pinoy favorites like crispy pata, kare-kare, fried hito, and kapampangan staples like paco salad and other steamed vegetable treats. Location: M.A. Roxas Highway,Clark Freeport Zone Operational Days and Hours: Opens Daily 11:00AM12:00AM

Aqua Planet For our itinerary on our second day at Clark, we went to one of the main attractions here, a truly world-class water adventure destination. A “watermazing” experience awaited us as we readied to slide, soak, drop and splash, in over 38 slides and attractions available in a vast area surrounded by lush greenery. We were in for a relaxing and satisfying experience. Boasting of two zones for the kids, young at heart, and the daring, this aqua park is open the whole month of December with exciting new promos to be announced. Location: Bounded by J.P Rizal Ave., J.P. Laurel Ave. and, Prince Balagtas Ave., Clark Freeport Zone Operational Days and Hours: Monday - Sunday

9am–5pm *Weekend rate at 1180php for adults and 980php for kids (4ft. and below). *Weekday rates at 950php for adults and 750php for kids (4ft and below). Salt Restaurant @Widus Hotel and Casino After soaking up the sun and enjoying the attractions at Aqua Planet, it was time for some grub, and Widus Hotel and Casino’s Salt Restaurant was our next stop for the day. Offering International cuisine, Salt’s lunch buffet featured Asian delicacies such as Korean Samgyupsal, make-yourown Vietnamese Pho, among many others. Location: Widus Hotel, M.A. Roxas Highway, Clark Freeport Zone Operational Days and Hours: Open Daily 6PM-10PM

Clark International Airport We got the rare chance to have a sneak peek of the ongoing construction of the new terminal building as part of extensive Clark International Airport expansion project. The whole project spans 10 hectares, while the passenger terminal building extends one hectare. The project has four levels and we got to roam around the site that will see around 12 million annual passengers and will be operational by mid-2020.

UET International If you’re looking for comfortable and fashionable knitted wear, we can’t suggest anything better than UET International as we struck a cool bargain for their export-quality socks on our way back from CIA. Their facilities in Clark house over 200 new machines, making them the largest machine knitting company in the Philippines— the reason they can readily offer fully customized socks, beanies, scarves, and arm warmers. Location: Bldg. N7111 Panday Pira Ave, Clark Freeport Zone Clark Freeport Zone, managed by the CDC, has continued to fuel growth not just in Pampanga, but in the whole of Central Luzon as well. And with its overall brand of “Clark: It Works. Like A Dream,” indeed, staying here and experiencing all the unique things Clark can offer, is living the dream.

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Palace sees stronger PH-China ties By MJ Blancaflor

hree years after President rodrigo Duterte boldly promised that he would ride a jet ski to stick the Philippine flag in the Spratly Islands and assert the country’s sovereignty amid China’s encroachment, what did he achieve to protect the country’s interest in the maritime dispute?

his strongman’s pledge during the 2016 presidential campaign was in stark contrast to his pronouncements now that he is occupying the government’s top post. In fact, Malacañang has expressed optimism that the relationship between the Philippines and China would strengthen in the remaining years of President Duterte’s term, despite Beijing’s refusal to recognize the country’s 2016 arbitral victory which spelled out the country’s marine entitlements. “We hope to strengthen our ties,” Presidential Spokesman Salvador Panelo told reporters in an interview. “Given that there have been proposed projects, and it involves certain Chinese companies, then it appears there would be better relationship between two countries,” he added. Among the proposed projects between Beijing and Manila was the joint oil exploration in the South China Sea. President Duterte met with Chinese leader Xi Jinping last October to assert

the country’s 2016 arbitral victory that junked Beijing’s claims in the disputed waters, but Xi maintained his position that his government would not recognize the ruling of the hague-based Permanent Court of Arbitration. Despite Xi’s refusal to recognize the court decision, Duterte would continue peaceful negotiations with Beijing to resolve the issue. “Negotiation [is] still the best method by which to settle differences between the two countries,” Panelo said. “The policy on China remains the same. We are friends with them but we are a sovereign nation and we are against any intrusion to that sovereignty,” he added. Duterte said he was not satisfied with Xi’s response but opted not to insist on the matter since the Chinese leader was under stress due to the political unrest then in hong Kong, an administrative region of China. The President, however, bared that Xi offered Manila a bigger share in the

joint oil exploration in the South China Sea if the Philippine government would set aside the arbitral ruling, even as he insisted he would not abandon the country’s claim of territories in the disputed seas. Duterte has been criticized for his “soft stance” towards the territorial dispute, far from his jet ski promise during the presidential campaign. he was told by Forbes writer Panos Mourdoukoutas to stand up against Asia’s “bully” and mobilize the Filipi-

Duterte’s “deferential approach” with the maritime dispute would weaken the country’s claims in the South China Sea. The Philippines’ allies in the AsiaPacific region could see this as “holding back on asserting the arbitral ruling,” said Michael Yusingco, legislative and policy consultant from Ateneo Policy Center. But for Malacañang, Duterte’s friendly demeanor with China has been “effective.” “I think its very effective. While he remains friendly, at the same time, he asserts sovereignty of this country. And the Chinese government has received it well,” Panelo said. For Yusingco, a bilateral dialogue with China would be a “stop-gap measure at best,” but a multilateral approach would bring lasting resolution in the dispute. “Discussions must involve ASeAN countries and nations in the Asia-Pacific with interest in the matter. For a long-term arrangement to be achieved, all the stakeholders must be present in the negotiation table,” he said. Yusingco also said that public sentiment is a huge challenge for the President on this matter. “They must bring the public onboard in the government’s strategy to assert our country’s rights in the WPS. no troops to stop Chinese vessels from Failure in this regard will taint the Presentering into the country’s waters. ident’s legacy,” he said. Mourdoukoutas noted that Vietnam, The September poll of the Social one of the claimants in South China Weather Stations showed that China Sea, outlawed many of China’s ongo- remains to be the least trusted country ing activities in the disputed territories, among Filipinos, with a net trust rating including building of artificial islands, of -33 points. blockades, and the deployment of ofAnti-China sentiments among Filipifensive weaponry. nos were likely to be triggered by the he also cited Malaysia for conduct- June 9 recto Bank incident, the unaning a rare show of its missile power nounced passage of Chinese vessels near the maritime region. within the country’s waters, and the rise A political analyst warned that the of Chinese workers in the Philippines. CYAN MAGENTA YELLOW BLACK

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Spreading #SocialGood through Health Care: SM Foundation’s 162nd medical facility Text and Photos by Angelica Villanueva True to its mission of delivering services to the Filipino community, SM Foundation recently turned over and inaugurated its 162nd medical facility located in Quezon City—the Novaliches District Hospital. The government-owned hospital started in 1997 serving as the annex of Quezon City General Hospital catering to thousands of residents of the city and its neighboring communities. With the help of SM Foundation, the said hospital is poised to become a Level 2 hospital after its renovation. With this, more medical services will be provided to its clients, particularly those coming from Novaliches as well as those from the cities of Caloocan, Valenzuela and even as far as the Province of Bulacan. The influx of patients from nearby communities outside Quezon City has made it imperative for the hospital to seek assistance to upgrade its facilities from SM Foundation through SM City Novaliches. “Our criteria for renovation and improvement of the hospital is that it should be patient-heavy and needing repairs. Novaliches District Hospital is an old hospital that needed improvement and renovation, so it can cater to more patients and add more services,” said Connie Angeles, Executive Director for Health and Medical Programs, SM Foundation. For the past two consecutive years, NDH has been recognized by the Philippine Hospital Association with the Most Outstanding Hospital Award Level 1-Government category. Mandated primarily to render healthcare services to the residents of the 5th District of Quezon City – which is the 2nd most populous district in QC, NDH used to be just a 30-bed capacity hospital but with the renovation, its bed capacity has increased to 100. With SM Foundation’s support, NDH is able to maintain its goal as a mother-baby friendly hospital. Newborn babies do not need to squeeze themselves in just one bed because more beds are added to the pediatric ward. Angeles said that the upgrade and renovation of NDH covers 80 percent of the hospital which was done in three phases, encompassing three floors of the building. Renovated on the ground floor were out-patient specialty clinics and clinical departments consisting of Pediatrics,

NDH’s specialists (from left to right) Dra. Imelda Sevilla, Dept. Head of Pediatric; Dr. Christian Reboton, Asst. Hospital Director; Dr. Eduardo Aldana, Director, NDH; and Dra. Digna Vergara-Datu. MD FPOGS, Obstetrics and Gynecology

The facade of Novaliches District Hospital

Among the improved facilities that SM Foundation provides is NDH’s Dental Clinic

The Felicidad Sy Wellness Center for Children

Obstetrics and Gynecology, Internal Medicine, Surgery and Anesthesiology, Nutrition and Dietetics, Dental clinic, Respiratory Unit, Ultrasound/stress test for OB-Gyne, Maternal High-Risk testing unit and Ophthalmology. Located in the second floor is the OB-Gyne Ward, High Risk Pregnancy Unit, OB Examination Room, Patients’ Lounge, Breast-feeding Room, Isolation Room and Nurses’ Stations. And to strengthen NDH’s services to mothers and their children, SM Foundation improved the hospital’s Pediatric Ward, Play area, Lounge, Pediatric Isolation Room, Breastfeeding Room, Philhealth Rooms 1 and 2, Infirmary Room, Nursing Office, Infection Prevention and control office, Pediatric Intensive Care Unit and Medical Intensive Care Unit. The collaboration between NDH and SM Foundation is a testament that public-private sector partnership works for better medical services. “This (improvement) is in response to the demand of our constituents. As the population grows every year, we need to expand, not just in infrastructure, but also in delivering medical assistance to our constituents” shared NDH Director Dr. Eduardo F. Aldana. The NDH is the third medical center that SM Foundation has turned over this December following the inauguration of medical facilities in Bacoor and Butuan. Connie Angeles (fourth from left), Executive Director for SM Foundation Health and Medical Programs officially inaugurated the Novaliches District Hospital together with Quezon City Council including the city mayor Joy Belmonte (second from right).

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

Year End Report

FRIDAY, DECEMBER 20, 2019

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Ensuring steady power supply By Alena Mae S. Flores

HE country’s power industry was beset by a series of red and yellow alerts this year, reflecting the increasing appetite for power and the need for more generation capacity. The Luzon grid was placed on red alert 14 times and on yellow alert for 43 days for the first nine months of the year, triggering some spikes in electricity rates from the Wholesale Electricity Spot Market (WESM), the country’s trading floor of electricity. Luzon power demand soared to 11,344 megawatts, up 4.3 percent from 10,878 MW in the first nine months alone. Power demand within Manila Electric Co.’s franchise area also went up to 7,740 MW, up. 4.6 percent from 7,399 MW in the same period last year. Overall power rates of Meralco, however, has remained relatively stable to P9 per kilowatthour from January to September as compared to P8.92 per kWh in the same period last year as fuel prices, oil, coal and natural gas were lower in 2019. Energy Secretary Alfonso Cusi admitted that power demand will likely continue to go up next year and

has directed Meralco and the country’s electric cooperatives to submit their preparations to ensure adequate power supply during the dry months. “I have written Meralco. I’m asking them on what are their measures to make sure they can cope with the increase in demand, and that there is an assurance of supply,” Cusi said. Cusi responded to concerns of tightness in power supply next year amid continued increase in demand. “I asked them (Meralco) how will they cover for the increased demand in their franchise area. For summer, and the coming years. The same with the other coops and other franchise areas, we asked them how are you going to cope with the demand,” Cusi said. He said the increased demand meant that the economy is improving, but so is the need for additional capacity and new power plants take 3 to 5 years to build. “With energy as a key element in our daily lives, the energy family has been tirelessly working towards providing secure, stable, reliable, accessible, and affordable energy services throughout the entire archipelago. We are united in our commitment to remain faithful in serving the public’s best interests in all that we do,” Cusi said. Cusi said DOE recognizes the need “to break barriers to investments and has put in place additional policies that would dispel fears of potential investors.” Among the investor-friendly policies issued by DOE include the Omnibus Guidelines Governing the Award and Administration of Renewable Energy Contracts and the Registration of Renewable Energy Developers to harmonize and enhance existing guidelines and procedures governing the transparent and competitive system of registering and awarding RE projects; Qualiﬁed Third Party policy for the remote and off-grid areas; and Battery Energy Storage System policy and the implementing rules and regulations for the Energy Efﬁciency and Conservation Act.

While wooing investors to the power sector, the DOE is also ensuring the reliability of existing power plants. DOE noted that power plant outages and deratings led to the low reserve levels this year. DOE has come up with the draft guidelines on the planned outage schedules of power plants and transmission facilities and publication of the grid operating and maintenance program. Under the draft guidelines, all generating companies shall submit three-year planned outage schedules for their power plants to the system operator National Grid Corp. of the Philippines for the Grid Operating Program (GOP). At present, the generating firms submit on an annual basis. The circular further stated that NGCP shall device a mechanism to come up with an optimal generation and transmission planned outage schedule, which shall be the basis of the Grid Operating and Maintenance Program (GOMP). It said NGCP shall submit to the DOE the GOMP every third quarter of the year, for review and approval. The DOE, in its review of the resulting reserve profile, shall direct the necessary adjustments in the generation and transmission planned outage schedules. NCGP and the concerned generating companies shall be informed of any changes in the submitted GOMP. It said the first year of the GOMP schedule shall be considered binding and can be changed during its implementation, subject to DOE approval. The second- and third-year schedules shall be considered indicative and reference for medium-term power supply and demand outlook. The circular also directed the Energy Regulatory Commission shall formulate a mechanism for incentive and penalty on the adherence of the NGCP and generation companies to the GOMP.

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Year End Report

Banks bullish on economy over the next two years

Remittances rose 8% to $2.67b in October By Julito G. Rada MONEY sent home by Filipinos working overseas increased 8 percent in October to $2.67 billion, the fastest expansion this year, from $2.47 billion a year ago, the Bangko Sentral ng Pilipinas said Monday. This brought cash remittances in the first 10 months to $24.858 billion, up 4.6 percent from $23.768 billion in the same period last year. “By type of worker, cash remittances from land-based and seabased workers increased by 3.8 percent to $19.4 billion, and 8 percent to $5.4 billion, respectively,” the BSP said in a statement. The US registered remained the top source of remittances from January to October at 37.6 percent of the total. It was followed by Saudi Arabia, Singapore, Japan, the United Arab Emirates, the UK, Canada, Germany, Hong Kong and Kuwait. Personal remittances, which include non-cash items, also expanded by 7.7 percent in October to $2.969 billion from $2.757 billion a year earlier. This brought personal remittances in the first 10 months to $27.612 billion, up 4.3 percent from $26.47 billion in the same 10-month period in 2018. Personal remittances from land-based workers with work contracts of one year or more grew by 3.8 percent in the first 10 months to $21.1 billion from $20.3 billion in the same period last year. The combined remittances of sea-based and land-based workers with short-term contracts increased by 7.5 percent to $5.9 billion. ING Bank Manila senior economist Nicholas Mapa earlier said remittance flows provided a steady dose of peso purchasing power once converted by recipients and was expected to help drive the fourthquarter growth print closer to the 6.7 percent fighting target of the national government. “Remittances have been able to provide the Philippines a stable source of foreign currency to shore up dollar liquidity and in turn boost peso purchasing power to help drive the engines of domestic consumption,” Mapa said. The peso gained 3.7 percent since the start of the year to close at 50.635 against the US dollar on Dec. 16. Mapa said remittance flows were expected to be sustained for the balance of 2019 and into 2020 which would in turn boost growth momentum and cushion the peso from possible pressure if import demand became resurgent in 2020. Cash remittances reached a record $28.943 billion in 2018, up 3.1 percent from $28.06 billion in 2017. The BSP is eyeing a conservative 3-percent growth in remittances in 2019.

By Julito G. Rada

ANKS expect the economy to remain robust and expand between 6 percent and 7 percent within the next two years despite the risks that emanate from both the domestic and external fronts. This was contained in the results of the Banking Sector Outlook Survey for the ﬁrst semester of 2019 that was released by the Bangko Sentral ng Pilipinas on Thursday. “The banking industry remains optimistic on the country’s economic prospect amid global uncertainties and market volatilities… Majority of the BSOS respondents projected the gross domestic product to grow between 6 percent and 7 percent within the next two years,” it said. The outlook on the Philippine banking system remained stable, with most of the BSOS respondents projecting doubledigit growth in assets, loans, deposits and net income.

“The bullish outlook on the banking system indicates that banks will continue to provide an environment conducive to the sustained domestic economic growth,” it said. Japanese ﬁnancial giant Nomura also expects the Philippine economy to attain the low-end of its growth forecast of 6 percent to 7 percent this year. It said growth would be stronger at 6.7 percent in 2020 because another budget delay would be unlikely next year. “Compared to the 2019 budget which suffered a four-month delay and contributed to the growth slowdown in the ﬁrst half of 2019, every step of this year’s

budget approval process in Congress has been done much earlier, consistent with deliberate efforts to avoid a repeat of the 2019 budget delay,” Nomura said in a report Thursday. Meanwhile, a new section of the BSP survey on financial technology/cybersecurity plans underscored the banking industry’s aptitude on the use of technology-enabled solutions and strong interest in participating in the digital finance ecosystem. It said this was “expected to add further impetus to the growth and operational efficiency of banks.” The report noted that most of the banks planning or already employing technology in their operations found its most important application in areas of data security and privacy, know-your-customer procedures and loan scoring. Most of the respondent banks revealed preparedness in managing cybersecurity risks. Meanwhile, institutional risk was considered as the top concern to the banks’ operation which include cybersecurity threat, regulatory/compliance risk, credit risk and market competition. Respondent banks considered enhancing their risk management systems to strengthen the banks against potential shocks and external vulnerabilities. They plan to strengthen client relationships and upgrade personnel capabilities. Banks also recognize the need to keep a high level of risk-based capital and liquidity and strengthen organizational conduct and risk culture to thrive amid the volatility and complexity of the operating environment. The survey provides insights of bank management on the strategic direction of the industry and emerging risks and trends. This is a part of BSP’s surveillance tools in promoting the resilience of the banking system.

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Cars to watch for in 2020

FTER a productive 2019 for the transportation industry, many car enthusiasts are raring to see what the future holds for the evolving world of ride and wheels.

Different styling will be the mantra of the vehicular sector for 2020 even as household brands will still be the leaders in producing top of the line automobile. The Manila Standard shares its forecast of the best cars to watch out for as we enter another decade. 1. Suzuki Vitara 2020 The Vitara has been around for a while, garnering a following for its affordable price, combined with its stylish design, making it a favorite in the crossover line. Even though the much-more known Ertiga, Swift and Celerio drives the companyâ€™s sales, the Japanese car manufacturer never forgets to give Vitara a facelift to keep up with its rivals as it enters 2020 with a pristine look. The reinvigorated Vitara remained the same under the hood, while its dashboard received a transformation and sleeker geometric-patterned seat upholstery for a more delicate look. There is also a bolder change in its front fascia, with its chrome grille showing multiple vertical bars.

3. Toyota Supra 2020 Toyota has built an image of the top dog in the automobile industry and adding to its billing is the new Toyota Supra, leaving enthusiasts awed by its premium design and speed. The fifth-generation model has maintained its class and elite image as the Supra wowed car aficionados with its surprising partnership with BMW. The new Supra was developed in the image of the BMW Z4 as both models will utilize the same 8-speed automatic transmission, with the same Rear-wheel drive from the previous iteration. The Toyota Supra 2020 interior displays a much more technology-advanced design, moving further its traditional design for a coupe, which is perfect for the fast-approaching new decade. Living to its legendary name, Supra has impressed fanatics as it continues its tradition as a world-class sports car that is living to its hype.

2. Mitsubishi Montero Sport 2020 The Montero Sport has been a class of its own after leading the tough SUV competition with its elite feel and aggressive front design. With the refreshed Montero Sport 2020, Mitsubishi continues to tease its fans with leaked images of the rejuvenated version circulating online. While the Montero Sport 2020 will still house the same engine and power, its interior will surely satiate the appetite of tech-savvy drivers with its improved digital display that includes an 8-inch infotainment display, an additional power outlet and better HVAC controls. Mitsubishi also refined the safety feature of its SUV with the rear cross-traffic alert or RCTA and upgraded driver-assists features, comprised of ISOFIX, a reversing camera, hill descent control, hill-start control, ABS with EBD, stability and traction control, and forward collision mitigation.

4. Mazda 3 2020 Mazda has been a fearless innovator in the world of automobiles, investing in a different internal combustion motor with the Wankel Rotary before and now, with the SkyActive-X engine. After making rounds in the online forums, the unveiling of the new Mazda 3 for 2020, a fourthgeneration of the model, boasts of a SkyActive engine that uses a combustion system, where compression is significantly increased for a much efficient application of fuel for more power prompting promising results to look forward. The Mazda 3 2020 adapted the Kodo design for a more sporty and attractive look to boot, turning Mazda into a top-end manufacturer that dwells on quality and efficiency. The 3â€™s cockpit brags of a floating infotainment with dial operation, same with the previous model and a neat interior of the dashboard for an organized look. Enjoy the ride!

FRIDAY, DECEMBER 20, 2019 advertise@manilastandard.net

Year End Report

DOF pushing more reforms to improve PH competitiveness By Julito G. Rada

INANCE Secretary Carlos Dominguez III said more reforms are needed for the Philippines to join the top ranks of countries identiﬁed by the World Bank as the best places to do business. Dominguez said these reforms would be crucial to attracting more investments, creating jobs and attaining ﬁnancial inclusion for the Filipino people. He said the Securities and Exchange Commission played a key role in dramatically improving the Philippines’ ranking by 29 notches to 95th in the latest Ease of Doing Business global report released by the World Bank. Dominguez commended the SEC for carrying out reforms to enhance the local business climate and bust investment scams, but added “there is much more to be done” for the government to achieve inclusive growth and suit up Filipinos for the Fourth Industrial Revolution. FIRE refers to the emerging era of disruptive trends and technologies that have been changing the way people live and work today. He said that aside from helping improve the EODB environment in the country, the SEC also became a member of the prestigious International Forum of Independent Audit Regulators which would give it and Filipino professionals the opportunity to work with and learn from their international counterparts. The SEC was also awarded the International Standards of Accounting and Reporting Honors by the United Nations Conference on Trade and Development which recognized the regulator’s exemplary work in the promotion of good corporate governance and sustainable business practices. Julito G. Rada “There is much work to be done for the country to rank at the top ranks for ease of doing business. This is indispensable for attracting investments into our economy and building inclusive development for our people,” Dominguez said in speech read for him by Finance Undersecretary and chief economist Gil Beltran during the SEC’s anniversary celebration.

Going beyond recycling to reducing THE Coca-Cola Company remains steadfast on their World Without Waste commitment with one of its fundamental goals already within reach – to ensure that their packaging is 100% recyclable by 2025. To find their packaging in oceans and landfills is unacceptable to the Company, which is why in 2018, they decided to rethink their approach to packaging, from design down to collection, to lessen their environmental footprint. In the Philippines, 100% of their packaging options are recyclable and among them are the returnable glass bottles. The iconic Coca-Cola contour glass bottle has been a wellknown trademark of the Company since it was first created in 1915. More than a hundred years have passed and the iconic glass bottle still makes up a large percentage of the local packaging. At present, 50% of the total production in the country is comprised of glass bottles, many found in sari-sari stores, especially in the provinces. Among the many reasons that the returnable glass bottles remain a staple in local production is because it is a highly sustainable packaging option. For decades, Coca-Cola Philippines has continuously and sustainably operated using their returnable glass bottles which are collected, washed, and reused. “We offer a range of packaging types so our consumers have the power to choose the right packaging that fits them best. With each option we provide, we ensure its packaging sustainability. In the Philippines, our primary packaging— glass, PET plastic bottles, cans—are 100% recyclable. And through our World Without Waste vision, we aim to work toward an endless loop of possibility for our packaging,” shared Coca-Cola Philippines Public Affairs and Sustainability Director Jonah de Lumen-Pernia. Going beyond recycling, The Coca-Cola Company also recognizes that there are other possible solutions such as reducing and reusing plastic. The reuse of its PET bottles for

other purposes is often practiced in many Filipino households. Light-weighting efforts have also led to huge reductions in the plastic used in packaging of beverages such as Royal, Sprite, Sparkle, Wilkins, and Viva! which are now 17% lighter. While redesigning packaging to reduce plastic content, the Company also aims to increase the use of recycled material through its investment in an advanced bottle-to-bottle recycling facility - the ﬁrst to be supported by the Company in Southeast Asia. All these plans serve the Coca-Cola Company’s ultimate goal to collect and recycle each and every bottle they sell by 2030, thereby reducing the amount of plastic waste that are found in oceans and landﬁlls. Moving toward a circular economy, Coca-Cola Philippines has created programs in partnership with local governments including Davao, Siargao, and Boracay where they aid in the collection of PET bottles and turn them over to local recycling partners.

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