The Standard - 2015 April 11 - Saturday by Manila Standard

VOL. XXIX  NO. 55  2 Sections  24 Pages  P18  SATURDAY : APRIL 11, 2015  www.manilastandardtoday.com  editorial@thestandard.com.ph

Bulgarian ‘super-hacker’ arrested in QC

Lacson confirms 2016 bid

PALACE KNOWS MILF’S LEADERS Next page

No fan of China. US President Barack Obama speaks out against Chinese activities in the seas claimed by the Philippines at the University of the West Indies in Jamaica. Story on A3. AFP

1st seaport auction up

Hooligans’ game takes Manila by storm

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Plea for Mary Jane. Members of the family of Mary Jane Veloso, 30, a Filipina on death row in Indonesia, rally near Malacañang on April 10 to ask President Benigno Aquino III to save the life of the convicted drug trafficker. AFP

‘Govt knows MILF identities’ Bus bombs have BIFF signature By Florante S. Solmerin THE improvised explosive device found inside a passenger bus Thursday in Sultan Kudarat bore all the marks of bombs made by the Bangsamoro Islamic Freedom Fighters (BIFF), a military spokesman said Friday. “It’s the BIFF’s. It has been the behavior of the BIFF to conduct bombings in public places as one of their diversionary tactics to distract our combat operations against them in the hinterlands,” said Brig. Gen. Joselito Kakilala, Armed Forces spokesman. The bomb attack was thwarted after a passenger of the Yellow Bus Line bound for Isulan town along the national highway found the bomb stuffed in a plastic bag at the rear portion of the bus. Bomb experts removed the explosive device after all the bus passengers moved to safety. A ranking military intelligence official who requested anonymity said the bomb was also similar to those used by the Special Operations Group of the Moro Islamic Liberation Front (MILF), with which the government is negotiating peace. “They are the same because they were taught how to make IEDs by Usman and Marwan,” the official said, referring to Malaysian terrorist Zulkifli bin Hir alias Marwan

and Filipino bomb expert Basit Usman. Marwan was killed in a Jan. 25 raid, but Usman is still at large. Following a month-long all-out offensive, the military continued focused operations against the BIFF, which has broken into small groups hiding in the marshlands of Maguindanao. Hiding with them is the group of Usman, Malaysian terrorist Amin Baco alias Jihad and four other “foreign-looking” terrorists. The military said more 160 BIFF fighters were killed and dozens more were wounded during the all-out offensive. Less than a dozen soldiers were also killed and more than two dozens were wounded. When the BIFF was founded by former MILF commander Ameril Umbra Kato, the group had about 300 armed men. The MILF leadership expelled Kato and his followers for not supporting its peace talks with the government. Also on Friday, the military said there was no evidence yet that kidnapped Naga town Mayor Gemma Adana had been moved to Sulu, the lair of the notorious Abu Sayyaf Group. Chief Supt. Generoso Cerbo Jr., spokesman of the Philippine National Police (PNP), said they believed the victim

and her abductors were still in the Zamboanga Peninsula. Cerbo, however, refused to identify the abductors. Earlier, Capt. Maria Rowena Muyuela, public affairs chief of the Western Mindanao Command, said the armed men who abducted the mayor belonged to the group of Waning Abdusalam. Kakilala said it was a pattern that kidnap victims were passed to the ASG in Sulu and Basilan, but there were no signs as yet that this happened to Adana. On Dec. 5, 2011, Austalian national Warren Rodwel was kidnapped in Ipil, Zamboanga Sibugay and was released on March 27, 2013 by the ASG in Basilan. Kakilala also dismissed speculation that Thursday’s firefight in Sulu that killed six bandits and two soldiers was connected with the Adana kidnapping. “The military offensive against the ASG in Sulu, just like in Basilan, is a continuing effort to decimate the bandits. Of course, the objective of these operations is to safely rescue all the kidnap victims from the hands of these bandits,” he said. On Thursday, a two-hour firefight involving the 32nd Infantry Battalion and fewer than 300 bandits erupted in Sitio Nangka, Barangay Gata, Patikul, Sulu.

By Sandy Araneta, Rey E. Requejo and Maricel V. Cruz

THE government has known the real names of the Moro Islamic Liberation Front (MILF) leaders since the peace process started in 1997, a Palace official said Friday after lawmakers criticized their use of aliases in signing a peace agreement with the government. “At least on the side of the executive, allow me to say that the real names of the MILF negotiators are of course known to the Philippine government, and in fact, they possess Philippine passports as issued by the Department of Forteign Affairs,” said deputy presidential spokeswoman Abigail Valte, during a press briefing in Malacanang. Valte said when the peace process started in 1997, the MILF negotiators like previous rebel group negotiators—notably from the National Democratic Front and the Cordillera People’s Liberation Army—were allowed the courtesy of using their aliases which they used for security reasons when they were part of their respective underground movements. She also dismissed suggestions that the Bangsamoro Basic Law (BBL) would be affected by the refusal of MILF leaders to reveal their real names. “The BBL should be discussed on the basis of the merits of the law itself, or of the draft bill itself, and not other attendant issues that may be related but perhaps are not really at the core of the main points of the BBL draft itself,” she said. Valte also said there was no deception on the part of the MILF. “Their real names are known to government so there was no deception on their part. There’s no deception on their part because they made their real names known to the government,” she said. Valte’s statement Friday contradicted presidential peace adviser Teresita Deles, who said she only learned that MILF chief negotiator Mohagher Iqbal used an alias

when he admitted this before a congressional hearing. Justice Secretary Leila de Lima said the use of aliases by the MILF officials would have no legal implications on the peace agreements they signed. She said the use of a nom de guerre or pseudonym by officials of revolutionary organizations was “common practice” and was not covered by the law against the use of aliases under the Revised Penal Code. “If we do not allow them the courtesy to continue using such nom de guerre whenever they are involved in the peace process, do you think the peace process would be successful?” she said. De Lima also compared the MILF leaders to the use of screen names by movie personalities such as former President Joseph Estrada, whose real name is Joseph Ejercito. She said the question should not affect the validity or legality of the documents they signed. Two administration lawmakers, however, disagreed. House Deputy Majority Leader and Davao City Rep. Karlo Alexei Nograles said it was time that MILF chief negotiator Mohagher Iqbal reveal his true identity and sign the peace agreement again using his real name. “Is it legally binding on the MILF if their representative signs with a fake name? What other concealments, deceptions and hidden secrets are behind the peace agreement? No wonder our officials in the Bureau of Immigration could not find any travel records belonging to Mohagher

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Obama slams China’s bullying KINGSTON—US President Barack Obama warned Thursday that China shouldn’t “elbow aside” countries it is in conflict with in the South China Sea, where the United States has sounded an alarm over Chinese construction on disputed islands. Speaking from a town hall meeting while on a visit to Jamaica, Obama warned against the aggressive acts by China while at the same time welcoming its strong economy and global reach. “Where we get concerned with China is where it is not necessarily abiding by international norms and rules and is using its sheer size and muscle to force countries into subordinate positions, and that is the concern we have around maritime issues,” Obama said responding to a question about the South China Sea. “Just because the Philippines or Vietnam are not as large as China doesn’t mean that they can just be elbowed aside.” In Beijing, China hit back against Obama’s criticism of Chinese construction in the South China Sea, arguing that it is Washington that has greater military muscle. The Chinese foreign ministry’s retort came a day after Obama warned that Beijing was “using its sheer size and muscle to force countries into subordinate positions” amid reports of controversial Chinese land reclamation efforts. “The US leader talked about China’s ‘sheer size and muscle’ but one can also see clearly who has the biggest size and muscle in the world,” foreign ministry spokeswoman Hua Chunying said at a regular briefing.” In Manila, Malacañang described as “extremist” the suggestion of the Magdalo representatives to deploy more troops to the South China Sea due to China’s dredging work especially in Mischief Reef. “That’s a little extremist right there,” presidential spokeswoman Abigail Valte said. “But if you think about it, we have committed to, again, standing on what is ours. We have also committed to making sure not to take any steps to increase tensions.” Valte said the government will continue to assert its rights through the proper channels. Obama’s comments come as the US warned that Chinese efforts to enlarge and build up disputed islands in the South China Sea are a threat to regional stability. A newly released set of satellite images revealed that China is artificially expanding a reef in disputed waters, presumably to strengthen its territorial claims. “In our view, China’s land reclamation and the construction activity are fueling greater anxiety within the region,” State Department spokesman Jeff Rathke told reporters. AFP, with Sandy Araneta

Tax season woes. Taxpayers, whom President Benigno Aquino calls his “bosses,” lined up hours at a regional office of the Bureau of Internal Revenue in Manila to file their tax return on Friday ahead of the usual April 15 deadline. DANNY PATA

Panel to approve amended BBL in May 20 Filipinos catch AIDS virus daily

By Maricel V. Cruz

THE 75-man ad hoc committee will pass the proposed Bangsamoro Basic Law in a revised and amended form in May, a House official said Friday. Cagayan de Oro Rep. Rufus Rodriguez, the head of the ad hoc panel tasked to scrutinize the BBL, expressed confidence it will be passed in the House. “We will conduct the voting on the measure by May 11 and 12,” Rodriguez said. “We will convince our colleagues that we have to give peace a chance, and that’s only one chance we have now [to pass this bill that] will end the fighting in Mindanao.” Rodriguez said the House in plenary was eying the passage of the BBL during the first week of June. He said both the House and the Senate were expected to have the BBL approved in a bicameral conference committee meeting

and then passed before Congress adjourns sine die on June 11. The House ad hoc committee tasked to scrutinize the BBL will resume its discussions on the measure from April 20 to 30. Its deliberation on the bill was suspended after the Mamasapano incident took place on Jan. 25. Rodriguez’s panel had earlier taken out several unconstitutional provisions in the BBL, a measure that seeks to create a new Bangsamoro juridical entity replacing the Autonomous Region in Muslim Mindanao that President Aquino III has described as a failed experiment. Rodriguez had acknowledged as problematic the provisions allowing other areas outside the Bangsamoro territory to also join the entity upon a petition of at least 10 percent of the constituents, the creation of its own internal audit body despite the presence of the Commission on Audit, the dis-

ciplining of public officials and employees or a power to be taken away from the Office of the Ombudsman, the establishment of a civil service, a human rights body, and allowing Bangsamoro to run its elections. Rodriguez said those provisions in the BBL that constitutionalists and legal experts had also found unconstitutional would be removed from the measure once it was put to a vote in May. “We will convince our colleagues that the unconstitutional provisions are removed so that the [BBL] is compliant with the Constitution,” Rodriguez said. Even House Speaker Feliciano Belmonte Jr. supported the passage of the BBL but not the so-called “Palace-MILF” version of the measure. “I don’t think it will pass,” Belmonte said, referring to the BBL as proposed by Malacañang and the Moro Islamic Liberation Front.

Thank you for your service. Philippine soldiers recuperate at a military hospital in Jolo, Sulu after they were injured in a clash with the Al-Qaeda-linked Abu Sayyaf group on Thursday. Two of their comrades-inarms were killed along with six militants, a military spokeswoman said. AFP

By Macon Ramos-Araneta TWENTY people acquire the Human Immunology Virus every day, according to the latest Department of Health Philippine HIV and AIDS Registry Report, which also says the majority of the cases involve males having sex with males. The registry says the majority or 586 out of the 646 cases of sexually transmitted infections reported in February were caused by males having sex with males or MSM. About 84 percent of the 586 infected people were males who had sex with other males. Out of the 94 new cases documented in February involving “transactional sex,” the DOH said 88 were men. Twenty-two among them accepted payment for sex, 49 paid for sex and 17 engaged in both practices. Gerard Belimac, DOH manager for the National AIDS/Sexually Transmitted Infection Prevention and Control Program, said the prevalence of HIV among MSM had significantly risen to 3.50 percent in 2013 from 0.30 percent in 2007. This means that 3.5 out of 100 MSM are afflicted with HIV. The prevalence rate was 1.05 percent and 2.12 percent in 2009 and 2011, respectively. The department’s February 2015 report also showed 43 new cases of AIDS. The figure is 33 percent higher than the 486 cases reported in February 2014, and that brought to 23,709 the total number of HIV/AIDS cases in the country since January 1984.

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Ping confirms bid for presidency By Macon Ramos-Araneta

SENATOR Panfilo Lacson confirmed Friday that he is open to running for President in 2016, but said this would depend on his ranking in opinion polls before he makes a final decision in August or September. Lacson acknowledged that he has not fared well in recent surveys. In the latest Pulse Asia survey conducted March 1 to 7, Lacson ranked 11th with only 1 percent of respondents saying they would vote for the former senator if elections were held today. “We are open [to running], but it appears that I have been stuck to the senatorial race. If we are talking about running for senator, our rating is very high—1 and 2. But about the presidential [race], we are low,” said Lacson in an interview over radio dzMM. The former senator said he needs to think of ways to get voters to see him as a possible president. “I’m not saying that I don’t want to run. If we are talking about my intention, I can tell you directly that I have the intention. But I cannot give you the decision right now because we have to consider several factors,” Lacson said. he said several groups and individuals had approached him and urged him to run again for president. But he told them that running for president is not that simple. Lacson ran for president in 2004, but lagged behind former President and now Pampanga Rep. Gloria Arroyo and the late Fernando Poe Jr. This time, Lacson said he is being convinced by retired officers of the defunct Philippine Constabulary and PC-Integrated National Police, the Philippine National Police (PNP) and the Armed Forces of the Philippines (AFP) who recently issued a manifesto urging him and Senator Grace Poe to forge a political alliance and run in 2016. The group said the country needs today “the strong-willed, disciplined and decisive service reputation of...Lacson, and the untarnished and compassionate brand of leadership of...Poe.” Lacson said he was invited Thursday night by the retired officers who vowed to help him in his presidential bid. he also said he can run as an independent backed by retired military and police officers in case he decides to run. In an earlier interview, Lacson admitted he is considering the possibility of a “Ping-Poe” tandem in next year’s poll, with Poe as his vice presidential candidate.

Pray for life. Pro-life advocates march to a prayer protest rally outside the head office of the Food and Drug Administration at the Filinvest Complex Alabang in Muntinlupa City against abortion and other birth controls policies. DANNY PATA

Poll body warms to Lagman plan By Sara Susanne D. Fabunan The Commission on elections (Comelec) is receptive to a hybrid election system, former Commissioner Gus Lagman said yesterday. In an interview hours after his presentation of the system to the Comelec en banc, Lagman said that although there were several questions raised during the meeting, the Comelec may consider using the Transparent and Credible election System (TCreS) as an alternative to its Precinct Count Optical Scan (PCOS) machines. “I think we can hurdle it. But, I think, there is only a

small issue to question [the system],” he said, adding that the Comelec has agreed to continue its dialogue with him and his group. Lagman also expressed confidence that the TCreS system will hurdle legal questions about compliance with Republic Act 9369, which decreed automated elections. The system has been repeatedly rejected in the past by the Comelec, which has held that the TCreS does not conform with provisions of the RA 9369. “The wording of RA 9369 is that the Comelec is authorized to automate the voting, counting, transmission, canvassing. The

word used is ‘authorized’ not ‘mandated’ so it is not necessary to automate all four parts,” said Lagman. The former poll official also noted that the use of PCOS machines, which were used in the 2010 and 2013 elections, doesn’t mean that there is already a “fully automated” election system. “PCOS is not fully automated because the voting is still manual. We still fill up the ballots. It’s the same as TcreS, which features manual voting and counting but transmission and canvassing is automated,” said Lagman. Under the TcreS system, voting and precinct counts

will be done manually before they are encoded at the precinct level prior to transmission. Afterwards, the precinct results will be electronically transmitted to the municipal, provincial, and national Boards of Canvassers as well as a Central Verification Server for the official automated canvassing of votes. During the two-hour meeting, Lagman and his fellow IT experts presented TcreS, which is also known as the Open election System, to the commission en banc the TcreS. he said his group is even offering to provide the hybrid system to the Comelec for free.

Bulgarian ‘super-hacker’ arrested By Frankie Tuyay and Florante S. Solmerin

Back home with money, baby. Foreign workers Chrisenciano Candar and Sofronio Raymundo show off their Yemeni currency after they arrived at the Ninoy Aquino International Airport NAIA Terminal 3 with 88 others on Friday. PNA

A 31-year-old Bulgarian known as “the king of super-hackers” and who was once jailed by Paraguayan authorities in 2011 for allegedly stealing thousands of dollars from the bank accounts of Bill Gates, the world’s richest man, was arrested after a long surveillance operation in Quezon City last Thursday, officials said. Agents of the Presidential Anti-Organized Crime Commission and the Philippine National Police Criminal Investigation and Detection Group said Konstantin Simeonov Kavrakov was arrested while in the act of withdraw-

ing money using different counterfeit bank cards at an ATM of the PSBank branch along Quezon Avenue corner Scout Reyes at 9 p.m. Thursday. Confiscated from the suspect were nine PSBank ATM cards, ATM receipts all dated April 9 and assorted credit cards. All the names on the credit cards were fictitious except for one, whose account had already been closed. Kavrakov has been staying in the country for almost a year now and is presently a resident of 2531 The Grass hotel, Quezon City. PAOCC executive Director Reginald Villasanta said Kavrakov is now facing charges of violation of Re-

public Act 8484 or the Access Device Regulations Act. Kavrakov’s arrest is part of Special Project “Jugador,” a PAOCC-initiated campaign targeting groups of foreign nationals engaged in cyber fraud and illegal online gaming, said Villasanta. he said the operation was launched by the PAOCC and the PNP-CIDG headed by Director Benjamin B. Magalong after the authorities received information from their foreign counterparts regarding the presence of european nationals engaged in the production and use of counterfeit ATM cards and other cybercrime activities in the Philippines and other parts of Asia.

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Opposition sees rough sailing for ’16 budget By Maricel V. Cruz BUDGET Secretary Florencio Abad can not just ask Congress for an “astronomical” election year budget of P3 trillion without a detailed explanation on the unused funds in government coffers. “The House Independent Bloc will definitely scrutinize the measure all the way down to the last centavo,” said Abakada Rep. Jonathan de la Cruz, senior member of the House Independent Bloc led by Leyte Rep. Ferdinand Martin Romualdez. “We want to see a detailed explanation or breakdown of the budget proposal for next year,” he added, noting that while the government failed to spend almost P500 million in allocations for 2014, it was still given a 15% hike in its 2.606-trillion budget for 2015. House Deputy Minority Leader and Bayan Muna Rep. Neri Colmenares said that the P 3 trillion-national budget for next year was too big. “I think that P3 trillion is very high and it should be carefully scrutinized. I hope that this is not just part of the Liberal Party campaign funds,” Colmenares, of the Makabayan Bloc, said. But Cavite Rep. Elpidio Barzaga, Jr., a House leader and a National Unity Party stalwart, said he sees nothing unusual in the increased P3 trillion-budget for 2016. “Every year, our national budget increases, and therefore there is nothing unusual for the increased P3 trillion budget for 2016. It so happened that 2016 is an election year and, therefore, the usual refrain of those who are in the opposition, most especially critics of the administration claiming that the increase in the 2016 budget shall be used for election purposes without analyzing the programs and projects for which the increase in the budget shall be used,” Barzaga said.

The wondrous balut. Residents of Pateros town, under Mayor Joey Medina, gathered downtown in a bid to set a Guinness World Record for the largest serving of balut (or boiled duck eggs) prepared in unique ways by chefs of the Center for Culinary Arts at the town’s Plaza de Borja on Friday. LINO SANTOS

Give it a rest, De Lima tells Makati vice mayor By Rey E. Requejo

JUSTICE Secretary Leila de Lima exhorted Makati City Vice Mayor Romulo Peña on Friday to give up his post as acting mayor and comply with the Court of Appeals’ writ of preliminary injunction against the suspension of Mayor Jejomar Erwin “Junjun” Binay Jr. “Strictly speaking, there is a need to abide by the CA order for the meantime, while the Supreme Court is hearing the petition of the Ombudsman,” De Lima said in an interview as Peña insisted he was still “acting mayor” of Makati. According to De Lima, Peña should comply with the order while the Ombudsman is questioning the CA injunction order before

the high court, which is set to hear next week oral arguments regarding the case. She said the writ of preliminary injunction issued by the sixth division of the CA has settled the confusion caused by the TRO issued by the appellate court earlier. “The Court of Appeals has clarified the scope of the injunction, which was missing in the earlier

TRO. I think that this TRO has more or less addressed the confusion already,” she stressed. But Peña publicly said he would not abandon the position until told to do so by the Department of Interior and Local Government and the Ombudsman. He even said he will wait for the ruling of the SC before even following the CA order. He is facing contempt charge before the CA, along with Ombudsman Conchita Carpio-Morales and DILG Sec. Mar Roxas, for allegedly defying the temporary restraining order the CA had earlier issued. The CA later granted a longer-term preliminary injunction against the suspension. The Ombudsman, DILG and the police did not follow the TRO,

claiming it was moot and academic for being issued several hours after the suspension was already implemented. The agencies also argued that the TRO was not clear as to what specific acts it was enjoining, with the Ombudsman claiming it effectively preserved the designation of Vice Mayor Peña as acting mayor since it was issued after he already took his oath as acting mayor. But the CA clarified in its temporary injunction that the Ombudsman and DILG should “respect and preserve the status quo before the issuance of the (suspension order), relative to the petitioner’s preventive suspension for six months without pay.”

Pinay rescued via Facebook

The price migrants pay. Relatives and friends of abused contract workers hold a protest near Malacanang Palace to demand action from President Benigno Aquino for Filipino workers overseas. AFP

THE Department of Foreign Affairs said Friday it rescued a Filipina maid from her employer in Bahrain after she posted a desperate cry for help on her Facebook page. Staff at the Philippine embassy were alerted to the plight of Abby Luna, who claims she was raped and beaten by her employer’s son, after she posted the video on her Facebook page on Thursday morning. The video attracted about 78,000 shares and 19,000 likes. “The rescue was prompted by the video message...

She is now under the care of our embassy,” foreign ministry spokesman Charles Jose told AFP. Philippine embassy officials and staff from Luna’s employment agency picked her up from her employer’s house, Jose said, adding that police were investigating the incident. Luna’s alleged assailant denied to police that he attacked her, Ricky Aragon, vice-consul at the Philippine embassy in Bahrain, told AFP by phone. In the three-minute long video, which appears to have been made on a we-

bcam, a sobbing Luna accused her employer’s “drug addict” son of raping her. She also posted a written appeal for viewers to contact the Philippine embassy on her behalf. “Help me get out of here. I’m scared. Until now, my genitals hurt. My leg is bruised. He (attacker) punched my leg to immobilize me,” said the 28-yearold, who had been working in Bahrain for a year. “After my employer’s son abused me, he threatened to kill me and bury me in the desert if I tell anyone about what happened.” AFP

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Pinoy workers from Yemen, remains of rocket victim due today By Vito Barcelo

Taking it in. Travelers stop by a roadside waterfall along Halsema highway in Bauko, Mt. Province. DAVID CHAN

Peace Council holds first meeting on BBL By Sandy Araneta

MeMbers of the Peace Council held their first meeting Monday at the Hotel Intercontinental Manila, focusing on the provisions of the bangsamoro basic Law and organizing themselves into clusters that would discuss key issues. President Benigno Aquino III formed the council in late March to work for the passage of the BBL after the public outrage following the January 25 Mamasapano incident. Former Chief Justice

Hilario Davide, Jr., Ambassador Howard Dee, businessman Jaime Augusto Zobel de Ayala and youth leader Bai Rohaniza (Honey) Sumndad-Usman were joined by other co-convenors—peace advocates,

educators, economists and social justice champions. the convenors organized clusters around four topics: Constitutionality and Forms and Powers of Government (chaired by Davide); Justice, including Social Justice and Human Development (co-chaired by Sumndad-Usman); economy and Patrimony (chaired by Ayala); and Human Security. the clusters will hold in-depth sessions in succeeding days and conclude by April 18, when they are expected to share their

output and future activities to the plenary. Davide reminded the group that “the hard work begins after the BBL is passed.” Sumndad-Usman for her part shared the perspective of a young Muslim woman “whose future will be immensely influenced by the passage of the BBL.” Ayala emphasized that the group is an independent body committed to helping the general public understand what is at stake in the BBL, identify contentious issues, and help

find a path towards reconciling divergent views. the co-convenors included Archbishop Soc Villegas, Fr. Joel tabora, Bishop Pablo David, Amina Rasul, Lawyer Christian Monsod, Dean Sedfrey Candelaria, Dean Danilo Concepcion, Prof. Moner Bajunaid, Pat Sarenas, Lawyer Nasser Marohomsalic, Dr. Cielito Habito, John Perrine, Dr. Wilfrido Villacorta, Bishop efraim tendero, Lawyer Marlon Manuel, Archbishop Antonio Ledesma, and Ramon del Rosario.

At LeASt 150 Filipinos repatriated from Yemen and the remains of an overseas Filipino worker who died in a rocket attack in Libya will arrive at the Ninoy Aquino International Airport today (April 11), the Department of Foreign Affairs said. the DFA added that this is the second group of Filipinos evacuated from Yemen to arrive in Manila. More are expected to come home in the following weeks. Some 413 Filipinos have already been evacuated; an estimated 458 are still there. the DFA has advised the remaining migrants to immediately get in touch with the Crisis Management team (CMt) currently deployed in Yemen to register for repatriation. A regional coalition led by Saudi Arabia extended its bombing campaign in its effort to stop the Houthi movement and its allies from dominating Yemen. According to the World Health Organization, at least 643 people have been killed in the conflict and more than 2,200 wounded. tens of thousands of families have been displaced. Meanwhile, Jupiter Adrias was the lone Filipino fatality of the rocket attack in Zawiyah town in Northereastern Libya, which also wounded three other Filipinos along with five others, according to Vice President Jejomar Binay, who is also Presidential Adviser on OFW Concerns. Adrias’ mother and his sister, Jean Rose Adrias, sought the help of the Office of the Vice President for the repatriation of Adrias’ remains.

COA to BI: Collect underpayments By Rio N. Araja tHe Commission on Audit has asked the Bureau of Immigration to collect over P626.329 million in underpayments covering its alien identification card project from a private company. the COA directed the BI to collect underpayments from the defunct J. Serrano trading Corp., now known as Datatrail Corp., that bagged the government contract for the Alien Certificate of Registration Identity Card (ACR I-Card) project in 2003. A 2013 COA report showed the national government was deprived of huge amounts in revenue because of the build-operatetransfer agreement that was later amended in favor of the firm. the report also said the contract should be terminated since its 10-year life span had already lapsed. All the rights, title and interest in the facilities, fixtures and equipment must be transferred to the bureau. On Dec. 18, 2003, BI entered into a build-

operate-transfer agreement with Datatrail for the automation of the ACR I-Card project through the issuance of a micro-based ID card to replace the old paper-based ACR. the objective was to provide accurate, fraud- and tamper-proof registration, identification and monitoring of registered aliens in the country. the agreement was cleared by the National economic Development Authority board on a “no-objection basis” along with financial terms and conditions, including a 50-percent revenue-sharing deal and an annual guaranteed payment of P30 million. On March 29, 2007, the arrangement was amended modifying the revenue-sharing from 50-50 to 67-33 percent sharing in favor of Datarail. According to the Commission’s report, such amendment was null and void, inoperative and without legal effect due to violation of the law and the terms of the build-operate-transfer rules that do not allow modifications.

Separated after birth. Conjoined twins Jerrylyn and Jennylyn de Guzman of Bautista, Pangasinan underwent a successful surgery at the Tzu Chi General Hospital in Hualien, Taiwan. MANNY PALMERO

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Council: Build 10.8-km Bicol bridge By Manilyn Ugalde

LEGAZPI CITY—The Bicol Regional Development Council has endorsed the construction of a 10.8-kilometer long bridge linking the island province of Catanduanes to the Bicol mainland.

Cordillera coffee. Rufina Wacdayan and Martha Podac process dried coffee beans the traditional way. DAVID CHAN

Benguet farmers see opportunity in free trade By Dexter A. See LA TRINIDAD, Benguet— Vegetable growers here see the implementation of the Association of Southeast Asian Nations free trade agreement as an opportunity rather than a threat. Governor Nestor Fongwan said the farmers realize they could tap foreign markets, contrary to earlier fears by agricul-

ture stakeholders. According to Fongwan, recent visits by Japanese, Thai and Vietnamese businessmen to Benguet are a sign that the vegetable industry has a place in the Asean market. The businessmen evaluated the local vegetables and expressed interest in exploring long-term partnerships with the province’s vegetable growers.

“We were surprised over the interest signified by the [foreign] businessmen, who obtained part of their vegetable supply from local growers, provided our products passed their standards. They seemed satisfied with our local vegetables,” Fongwan said. The governor said Benguet farmers need to organize themselves into clusters to respond to the expected increase

in demand, not only from local markets but from consumers from the 10-member Asean. Benguet supplies at least 80 percent of the country’s demand for semi-temperate vegetables, with an average production of at least 500,000 to 600,000 metric tons of assorted highland vegetables annually. The vegetable industry provides jobs to 250,000 individuals in 13 municipalities.

The proposed bridge, which would be built from Rugus Point in Caramoan town, Camarines Sur to Barangay Tibang, San Andres, Catanduanes, would be five times longer than the San Juanico bridge joining the Leyte and Samar provinces. Council chairman and Albay Gov. Joey Salceda said it is about time to make the “impossible dream” happen, referring to the construction of the bridge. The idea was first raised five decades ago by then-Catanduanes Gov. Juan Alberto. Salceda added that there are investors interested to take on the project, which the council had found feasible and viable. Catanduanes Vice Governor Jose Teves said among the interested parties were Chinese investors. Salceda could not yet give an estimated cost for the construction of the bridge but said it would certainly be in the billions of pesos. San Juanico bridge, constructed by Japanese engineers from 1969 to 1973, cost $21.9 million. At present, Catanduanes can be reached by plane and by roll-on/ roll-off ferry boat via Tabaco City in Albay. From Tabaco, passengers will travel four hours to Virac. Another route from Tabaco to San Andres takes two and a half hours. Catanduanes Gov. Aracely Wong said the RDC endorsement would be good for the province’s 12 towns.

Acting provincial sports chief nabbed for shabu By Alvin T. Guanzon BUTUAN CITY—Police operatives arrested this week the 57-year-old acting head of the provincial sports office of Agusan del Sur for possession and use of shabu. The chief of police of San Francisco town, Agusan del Sur, Inspector Sandro Santillan, said the suspect was Hilario Aboy Cellan, a resident of Purok 1 Patin-ay Prosperidad, Agusan del Sur. Cellan was caught possessing a sachet of shabu inside a videoke house in Purok 2-C, Barangay 1, San

Francisco town. There were also reports that Cellan was peddling shabu. He is now under custody of the San Francisco Municipal Police Office. Santillan said the PNP coordinated with the Philippine Drug Enforcement Agency for weeks of surveillance after receiving tips on Cellan. PDEA Director General Arturo Cacdac and the Dangerous Drugs Board recently released a study saying that the Caraga region was second only to the National Capital Region in terms of illegal drugs proliferation.

Cooling off. Local tourists enjoy the water at Mohamamoy Resort at Lake Agco, by the foot of Mt. Apo.

GEONARRI SOLMERANO

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In the name of good faIth MoRo Islamic Liberation Front chief negotiator Mohagher Iqbal said that his having multiple names is a non-issue. We disagree, and vehemently. Iqbal is not the name the negotiator was born with. He was born Salah Jubair. This was also the name he used to write his book on the peace process in Mindanao. This week he told this newspaper that Salah Jubair was his nickname but did not disclose what his real, full name is. As if enjoying the guessing game, the man we know as Iqbal makes this an incentive for the Bangsamoro Basic Law. “If you pass the BBL, everything will normalize,” he said. “And then you will know our names” as he reminded the public that the MILF remains a revolutionary organization until the BBL is passed. We are beside ourselves in suspense. Apparently, the practice of going by different names is not unique to Iqbal. Weeks ago, we discovered that Al-Haj Murad Ebrahim and Ghadzali Jaafar are not the real names of the MILF chairman and vice chairman, respectively. Whatever Mr. Iqbal says, that parties who come to the peace table are who they say they are is an issue – a fundamental one. We need to know whom we are dealing with, exactly. We need to be assured that the commitments they make are binding on their persons. And if the names are not a big deal, after all, why not tell the public now instead of waiting for the passage of the BBL? All these questions will figure in next week’s resumption of hearings on the Bangsamoro bill. In defending the BBL and in pushing for its immediate passage, the Aquino administration has resorted to scare tactics and faulty generalizations, both of which insult the public’s common sense. Mr. Aquino and his allies are so fixated on the passage of the BBL and have equated it with the entire peace negotiations. If the BBL is not passed, they say, Mindanao could descend into war and we would soon be counting body bags. This is a sweeping statement that disregards the perceived unconstitutional provisions of the bill. The government asks too much of the public in telling us to accept the bill in its current form – or face dire consequences. And now that the government negotiators seem fine with the idea of dealing with persons with multiple names, we are neither assured nor appeased that transparency and good faith attend this entire process.

Moro-Moro on MaMasapano BaCK ChanneL aLeJandRo deL RoSaRIo MoRo-moro in the colorful Pilipino language means a sham or a charade. That’s how Buhay Party List Rep. Lito Atienza describes the on-going House probe on the Mamasapano incident and why he’s not taking part in it.

Speaking at the breakfast news forum “Kapihan sa Manila Bay” at the refurbished and historic Luneta Hotel, Atienza said the House hearing was an “orientation program” to condition the public’s mind to absolve President Aquino from any blame in the Jan. 25 Maguindanao massacre of 44 PNPSAF commandos by MILF and BIFF guerrillas. Watching some of Aquino’s allies in the House panel

outdo each other in shielding the President from any responsibility in the Mamasapano police operation, Atienza said he expects the House report to be signed by Speaker Feliciano Belmonte be starkly different from the Board of Inquiry and Senate reports which found Aquino ultimately responsible for putting suspended PNP chief Alan Purisima in charge of the sensitive police operation to get international terrorist Marwan and Basit Usman. Atienza also assailed Prof. Miriam Coronel Ferrer, the head of the government peace panel, for saying it was not il-

our clueless government panel could have been dealing and negotiating with malaysian agents.

legal for MILF chief negotiator Mohagher Iqbal to use an alias or a nom de guerre in signing documents pertaining to the Bangsamoro Basic

Law. The bill is now under review in the House of Representatives and congressmen belonging to Aquino’s ruling Liberal Party were called to a meeting in Malacanang in February and given their marching orders for its passage. “I didn’t know the law against using an alias or a fake name has been repealed. If it was scrapped, then anyone can now use an alias to consummate a sham marriage,“ remarked Atienza pointing out the peace agreement signed by the MILF official using an alias could be void from the start. Iqbal claims it’s his right

to use an alias or a nom de guerre as a revolutionary. But Nur Misuari, a true revolutionary before Iqbal became one, uses his own name. Senator Ferdinand Marcos, Jr. said the Senate committee reviewing provisions of the BBL will look into Iqbal’s use of an alias when he signed the framework peace agreement. He said this has serious implications on the peace process and his com-

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mittee which resumes hearings on the BBL this Monday will raise questions on the matter. our clueless government panel could have been dealing and negotiating with Malaysian agents. There’s an easy way to find out. The Bureau of Immigration could dig up Iqbal’s departure and arrival records. Why the immigration bureau which is under the Department of Justice hasn’t done so is rather strange. Is there an order

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from the Palace not to? What passport did Iqbal use when he first met with President at a Tokyo airport prior to the formal peace talks? The hush-hush meeting lasted only a couple of hours with Aquino returning to Manila the same day. Iqbal presumably returned to Manila or might have proceeded to Kuala Lumpur to report on the meeting to his Malaysian principals. Continued on A11

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I WAS born in ‘58, so I am turning 57 this year. To more than half of the Philippine population, and that is fifty million Filipinos, I, and those belonging to my generation, are old, ancient. In a few years, we will reap the full benefits of our age, courtesy of that wonderful senior citizens’ discount card. Many of us have gained weight; our faces are lined and wrinkled. Most of the guys have receding hairlines, if not balding. We now have two-toned hair even without the benefit of coloring and streaks. Some of the spring in our gait is lost, we may get tired easily, some may even be under maintenance drugs, and many have to watch our diets because of certain health conditions. Increasingly, we get sad news about deteriorating health, even the passing on of friends and contemporaries. We tend to visit hospitals and wakes more often to support, encourage, or condole with friends and families. We go to parties less and when we do, an all-nighter is already out of the question. We have gone full circle here not because of curfew or strict parents, but simply because physically, we cannot last the night anymore. We now talk about careers and retirement, places we have been, struggles and successes, children and grandchildren. Still, we laugh and giggle as we recount our adventures and misadventures of summers of decades past. We still get excited about past loves, high school “crush ng bayan”, love teams, and all those things that I am pretty sure also excite the high school students of today. Welcome to the world of aging. This is the world of looking back but also, of moving forward. one thing that I want the youth of today to know is that, before we became parents and grandparents, before our wrinkles and greying hair, we were your age, we had fun Then, we still climbed trees, harvested and feasted on aratiles, guavas, and caimitos. We chased butterflies and dragonflies, we walked around town to enjoy the pouring rain. We played physical games, outside, on the streets, no matter the falls and scratches we had to endure. Continued on A11 Rolando G. Estabillo Publisher Rolando G. Estabillo Publisher Jojo A. Robles Editor-in-Chief Jojo A. Robles Editor-in-Chief Ramonchito L. Tomeldan Managing Editor Ramonchito L. Tomeldan Managing Editor Chin Wong/Ray S. Eñano Associate Editors Chin Wong/Ray S. Eñano Associate Editors P. Palacios News Editor FrancisJoel Lagniton News Editor Francis Lagniton Editor Joyce Pangco Pañares CityCity Editor Arman Armero Senior Deskman Adelle Chua Senior Deskman Leo A. Estonilo Senior Deskman Romel J. Mendez Art Director Romel J. Mendez ArtPhotographer Director Roberto Cabrera Chief Roberto Cabrera Chief Photographer

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our clueless government panel could have been dealing and negotiating with malaysian agents.

legal for MILF chief negotiator Mohagher Iqbal to use an alias or a nom de guerre in signing documents pertaining to the Bangsamoro Basic

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A10 Shaming the republic Part II WhILE nobody would want to contradict the affidavit executed by Jibin Arula, who himself died in 2006 in a motorcycle accident in Cavite, the only persons who continue to affirm that canard are the secessionist rebels as originally peddled by MNLF chairman, Nur Misuari, and now by his erstwhile subaltern, the MILF. Obviously they have their own agenda in having to perpetuate that fraud. The sad thing is some of our “investigative journalists” are making a fuss of that canard to obviate the stiff resistance to the proposed BBL and to neutralize the anger of the Filipino people who saw how our law enforcement officers were mercilessly slaughtered, robbed and their bodies desecrated while uncannily harping of “giving peace a chance.” Strange as it was, Arula could not recall the name of a single trainee who was supposed to be his comrade-in-arm in that clandestine operation to liberate Sabah. he merely speculated they were summarily executed after they alighted from the weapons carrier. Ninoy himself interviewed a certain William Patarasa, a 16-year-old trainee who was sent home for leading the petition complaining the condition in the camp. Patarasa was presented by the military as in fact alive. Not satisfied, Senator Aquino went to Jolo to verify the fate of the first batch of 24 trainees that boarded RP68. They denied knowledge of any massacre. Arula admitted he had no knowledge the four leaders who were called by Major Martelino on March 3 were liquidated. None of these facts were quoted by the so-called “investigative journalists” because as fifth columnists, they were hell bent on perpetuating a fraud that could further demonize their favorite whipping boy Ferdinand Marcos. To quote again Ninoy’s privilege speech: “Like Jibin Arula, up to yesterday claims he had no knowledge of what has happened to their four leaders called by Major Martelino last March 3. X x x.” “One of the leaders has since presented himself to army authorities.” “This morning, the Manila Times, in its banner headline, quoted me as saying that I believed there was no massacre in Corregidor island.” “And I submit it was not a hasty conclusion, but one borne out by careful deductions. What brought me to this conclusion: “1, Massacre means, to my mind, the wanton killing of men – maybe premeditated, but definitely committed according to a previous plan. I submit there was no plan to kill the Muslim recruits.” “2. What would have been the motive of the “massacre”? Some quarters have advanced the theory that the trainees were liquidated in order to silence them. But then, the 24 boys have already shown up in Jolo, safe and healthy. To release 24 men who can spill the beans and liquidate the remaining 24 “to seal” their lips would defy logic.” “3. Jibin Arula had been telling the truth all along. however, his fears, which in his place maybe considered valid, many not be supported by the recent turn of events. Twenty four recruits have turned up.” Even if Ninoy wanted to embarrass his arch-enemy Marcos, he dared not because he could not find a single strand of evidence to support the claim of massacre. Ninoy was cocky not to mention the purpose of the clandestine training, but nonetheless managed to deliver the core of what it was all about to Malaysia, thereby allowing it to recruit traitors to join the rebellion using the fraud of alleged “Jabida Massacre” as their rallying cry. In the book of Senator Arturo Tolentino, the Voice of Dissent, he said, and I quote: “AFP generals had reported to the President that the Corregidor affair was a case of ‘simple mutiny or desertion.’ After a couple of days, the AFP chief of staff announced that all the trainees had been found or accounted for. But a week after the assuring announcement by the chief of staff, President Marcos, after an actual head count by roll call he personally made, said that eight trainees were missing.”

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EAGLE EYES DEAN TONY LA VIÑA

‘Dying, you DeStroyeD our Death’

ChRIST is risen! hallelujah! These words reverberated as Christians around the world joyfully celebrated last Sunday Jesus Christ’s resurrection. Christian faith teaches that Christ suffered, was crucified, died and on the third day he rose again from the dead. The resurrection of Christ is an intrinsic tenet and the foundation of the Catholic Faith. however, his conquest of sin and death may be seen in different ways. First, by his resurrection, Christ conquered death and forever established his kingship over all creation. he has proven that he is an all-powerful God that even death itself has no power over him; a God who has no beginning and no end; the alpha and omega. Christ’s resurrection also means that the Christian God is a living God; one who was, is and will be part of human history from the beginning until the end. An ever faithful God, Christ by his resurrection shows that he abides by his church for all time. Jesus himself promised this when he said to his disciples before he ascended into heaven: teaching them to observe all things whatsoever I commanded you: and lo, I am with you always, even unto the end of the world (Matthew 28:20). This means that God is and will be forever present in the life of every Christian and his church. Although God no longer manifests himself as in the days of Abraham, Moses and the Patriarchs of the Old Testament, still his hand is seen and will be present in all events of our history, showing himself in all creation, from the greatest to the minutest. The true follower of Christ therefore sees that every event in his life does not happen by chance but is willed by him; hence, he (follower) will not be overcome by despair and hopelessness for to him God is always present, ready to come to his succor. It is unfortunate that sometimes people, even those who profess to be Christians, act without taking into account the will of God and his presence in their lives. It is in these instances of sin that we consciously and deliberately separate ourselves from him resulting in all sorts of trouble for mankind. Concededly, modern society is suffused with hatred, violence, greed, selfishness and lack of charity. This is why Pope Francis in his Easter message urged the faithful to accomplish the power of the Resurrection in “every age, in our concrete existence, in our everyday lives. how many deserts, even today, do human beings need to cross!” Above all, according to the good pope, “the desert within, when

we have no love for God or neighbour, when we fail to realize that we are guardians of all that the Creator has given us and continues to give us.” But in the end, Pope Francis I gives us hope that God’s mercy can make even the driest land become a garden, can restore life to dry bones. Second, the great apostle, Peter, “praises God for he has given us a new birth into a living hope through the resurrection of Jesus Christ from the dead.” here St. Peter links Christ’s resurrection gives hope for it opened the doors to heaven. By Jesus’ death on the cross and his resurrection we have become heirs of God’s kingdom. It is an inheritance that is imperishable, undefiled and most of all everlasting. A Christian therefore sees hope where there is none. Even in the midst of suffering and difficulties such as persecution, hunger, nakedness – there is still reason to rejoice because God’s love has already conquered death; that in the end of this earthly life the Christian will be allowed to reclaim his just reward, that is, everlasting life. In this sense, Christianity is a joyful religion, full of hope and expectation. For a Christian adversity is not a useless experience contrived by God to punish him; instead it is God’s way of leading him towards salvation. Finally. Christ’s resurrection is transformative. Pope Francis in his Easter homily explains how belief and acceptance in Christ’s resurrection can change the life of a person, events and conditions. he said: “So this is the invitation which I address to everyone: Let us accept the grace of Christ’s Resurrection! Let us be renewed by God’s mercy, let us be loved by Jesus, let us enable the power of his love to transform our lives too; and let us become agents of this mercy, channels through which God can water the earth, protect all creation and make justice and peace flourish.” Indeed, belief in the message of the resurrection can change lives for the better. Christ’s rising from the dead may be an ancient mystery but its religious and societal significance remains strong even to this day. Given the state of present-day society, there is every reason for us to acknowledge and practice the message of Christ’s resurrection to transform despair and meaninglessness of existence into one that is peaceful, loving and just knowing that there is a loving, merciful and faithful God who never abandons. Facebook page: Dean Tony La Vina Twitter: tonylav

“Because of his discovery that tried to stop the trainees from bolteight trainees were missing, the Presing. Mamaroglo in turn was allegident ordered the filing of charges of edly killed by then Capt. Eduardo murder and frustrated murder beBatalla who later became the Confore the AFP court martial against Unknown to most of stabulary commander in Western the training officers in Corregidor; Mindanao who himself was killed us, the clandestine by Rizal Alih in a hostage taking. but at the same time, he ordered the AFP authorities to conduct a massive To consummate the vilification operation was not search for the missing eight.” of our soldiers, they depicted Maan all-Muslim squad. jor Martelino as a swashbuckling Note that no cadaver was presented. The only body that was acChristians were also playboy who used the funds of the counted for was that of Lt. Eduardo Armed Forces to build a villa in recruited. Nepomuceno, the training officer Jolo for his Muslim wife, Sophia. who tried to stop the trainees from They could not also forget Colonel bolting. In that, one could surmise Abadilla whom they consistently that Lt. Nepomuceno was killed by accused of have gained notoriety the mutineers. Since nobody could for heading the Military Intelliaccount for their whereabouts, Misugence Security Group (MISG) that ari’s MNLF and their handlers, Malaysia classified the accordingly arrested and killed political activists withunaccounted deserters as “massacre victims.” out naming a single victim. Abadilla himself was Marcos had to press charges against the patriot- treacherously ambushed in 1996 by communist gueric soldiers led Major Abdul Latif Martelino, then Lt. rillas in Quezon City. Rolando Abadilla and others to squelch suspicion of PNoy, in commemorating the so-called “Jabida Maswhitewash. Although in the end all were acquitted, sacre” is the one perpetuating the lie without giving a the damage has already been done; that the Philippines thought that he is the one keeping alive the wedge that was planning to create a special task force to liberate exacerbates the secessionist cause. Maybe it is his way Sabah. Nothing was written about the heroism of Ma- of giving peace a chance, but such is idiotic because it jor Eduardo Abdul Latif Martelino, and those patriotic indicts the very government he presides. The shameful soldiers and Tausugs who were executed after the un- marker erected in Corregidor by the sympathizers of timely exposé, and the thousands of Filipinos deported the MILF, with all the praises from an ignorant Presien masse by the Malaysian authorities in retaliation. dent, continues to desecrate the name of a young solUnknown to most of us, the clandestine operation ider, Lt. Eduardo Nepomuceno, who instead of being was not an all-Muslim squad. Christians were also honored for doing his duty is perpetually being marecruited. As my informant told me, it was a certain ligned for an alleged crime he never committed. trainee by the name of Alfonso Mamaroglo, from Camp Servillano Aquino who shot Lt. Nepomuceno after he rpkapunan@gmail.com

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Stop pontificating on the Mindanao probleM

HAIL TO THE CHAIR VICTOR AVECILLA Former President Fidel V. ramos gave President Benigno Aquino III a public scolding in the weeks following the January 2015 mamasapano massacre in maguindanao, where 44 elite police commandos were killed by armed guerillas of the moro Islamic Liberation Front (mILF) and their relatives from the Bangsamoro Islamic Freedom Fighters, While Aquino may deserve the dressing-down, ramos is not exactly the right person to scold the President. ramos was a general and a defense secretary before he became president and commander-in-chief of the Armed Forces of the Philippines (AFP). Under his administration, the mILF expanded its forces and its sphere of influence in mindanao. This happened because ramos was either unaware of it, or he paid no attention to it. The existence of a fortified mILF made possible by ramos’ inaction or complacency was confirmed early on in the short-lived administration of his successor, President Joseph “erap” estrada. Despite all the perceived shortcomings attributed to him, estrada saw the uselessness of negotiating with a fortified mILF and ordered an all-out war against the separatist group. As a result, the AFP was able to take over all of the known mILF camps in mindanao. If estrada had not been removed from office by that untenable ruling of the Supreme Court anchored on his alleged “constructive resignation” from the presidency, the mILF would not have become the troublesome entity it is today. After all, estrada’s successor, President Gloria macapagal-Arroyo,

A11

did nothing to stop the mILF in its tracks. In a television interview last February, President ramos scored the Aquino administration for its failure to protect the rights and interests of the Filipino soldier. That failure is clearly manifested by the way Aquino handled himself in the aftermath of the mamasapano massacre, and by his stubborn insistence on the congressional approval of the draft Bangsamoro Basic Law (BBL), days before the 44 murdered policemen were buried. During that interview, ramos appears to have forgotten that Fort Bonifacio, the military reservation where soldiers were given affordable housing and other service-related benefits, was largely privatized during his term as president. A former soldier, ramos allowed the bulk of the valuable real estate which made up Fort Bonifacio to be sold to developers supposedly to finance the acquisition of military hardware for the AFP. Today, more than a decade after the sale, the AFP remains woefully lacking in military hardware, and soldiers have to commute from far flung areas outside metropolitan manila. Who made money from the sale is not known. What must be emphasized is that when Ferdinand marcos was president under a Constitution which gave him absolute power, marcos did not sell off his soldiers’ homes in Fort Bonifacio to real estate developers in the guise of raising money to improve military hardware. Sadly, it was a retired soldier, ramos, who sold away the soldiers’ homes. * * * Film actor robin Padilla should stop

giving lectures about the peace process in mindanao to Senator Alan Peter Cayetano, a fierce critic of the BBL. Although Padilla, a muslim convert, has the constitutional right to criticize public officials on public issues, his recent tirades have only underscored his lack of sufficient understanding of the legal issues relating to the BBL. At the heart of the debate is the unconstitutionality of the BBL, a matter that involves very intricate issues of law, best left to legal minds, or at least to people with a background in Constitutional Law. A lawyer and a legislator, Cayetano knows from where he is coming from in his crusade against the BBL. Unless Padilla can demonstrate some working knowledge about the Constitution, he should not score Cayetano for the latter’s legal arguments against the passage of the BBL. As a senator, Cayetano has good reason to oppose the BBL. From the way Cayetano has comported himself in the Senate and in the news media, it appears that he did his homework – something which cannot be said of other senators, and of Padilla. Padilla’s reliance on populist slogans like “give peace a chance in mindanao” is hollow in the face of an obviously unconstitutional BBL. In addition, the actuations of the mILF in the aftermath of the mamasapano massacre have only served to highlight the duplicity of the mILF in the bargaining table. The idea of giving peace a chance always sounds nice, but then, not everything that sounds nice is good. * * * House Speaker Feliciano Belmonte, Jr. should explain why he is urging the

Moro..From A9

Thoughts..From A9

Atienza and other members of the independent minority bloc said they would scrutinize revisions to the BBL measure to make sure it conforms to the Constitution and does not create a state within a state. Interviewed after the news forum, Atienza admitted he’s seeking a Senate seat under Vice President Jejomar Binay’s United Nationalist Alliance party. It’s going to be a crowded race with former senators Ping Lacson, Kiko Pangilinan and Dick Gordon vying to return to the Senate. Lacson and Pangilinan took temporary jobs as Presidential Assistants on Typhoon Yolanda rehabilitation and Food Security czar, respectively, while Gordon is full-time chairman of the Philippine National red Cross which keeps him in the public eye. “God might have other plans for me,” said Lito who’s not ruling out higher office if Binay cannot find a running mate for Vice President. He’s probably the most qualified having been environment and Natural resources Secretary, three- term manila mayor, National Housing Authority general manager, and a member of the 1984 Batasang Pambansa (National Assembly) Atienza was also an activist—one of the few brave souls who opposed martial law. In a field of re-electionist senators and returnees with name recall, there will be probably only four seats up for grabs. These are the ones to be vacated by graduating senators who cannot run anymore because of term limits—miriam Defensor Santiago, Lito Lapid, and Pia Cayetano. Senators Jose (Jinggoy) estrada and ramon (Bong) revilla are detained and denied bail on charges of plunder related to businesswoman Janet Lim Napoles’ pork barrel scam.

We learned to negotiate with other children. Sometimes we fought, but that was part of childhood. There were no mobile phones and landlines were a luxury only a few families could afford. So, when we wanted to talk with others, we went and talked with them face to face. We interacted in person, without the use of gadgets. We had to learn to build interpersonal relationships. We had our own funny stories and adventures. In high school and college, we partied, swooned over campus idols, dated (sometimes surreptitiously), played Cupid. We loved, lost, and many, loved again. I assure you, we know how it is to be young and carefree, albeit in a different time. We experienced what many of you are going through. We know a thing or two that might benefit you. So young people, I have two things to ask of you. one is, learn to listen. Somehow, you might also find our stories funny, and helpful. Listen, discern, learn, and decide. Just do not outrightly dismiss what we, the oldies, have to say as unimportant or irrelevant. Second, please do not look at us with disgust, do not feel shamed when you see and hear us laugh at ourselves as we recount memories of years past. There is no law prohibiting oldies from having great fun. We also want to go a bit crazy sometimes We knew how to have fun then, we know how to have fun now. Yes, we got busy with careers, family, raising kids. We got to do serious work. We largely set aside our fun side and focused on the problems of the world and our families. many of us had to struggle to make both ends meet as we guided and sent kids to get the best education we could afford. I know friends who sacrificed their personal happiness

House to rush the BBL – a law that is unprecedented in its disregard for the Constitution, and which has drawn extensive public disapproval. At the very least, an extensive legislative debate on the proposed law is necessary. The fact that President Aquino wants the BBL enacted into a law before the end of this term is not a valid reason for the House to railroad its approval. The behavior of the House of Belmonte only shows that the House, under its current composition, is and remains subservient to malacañang. * * * In the Senate at least, there are vocal exponents against the BBL. Senators Cayetano and miriam DefensorSantiago have made mincemeat of this controversial bill. Senator Ferdinand marcos, Jr., the head of the committee which was supposed to hear the bill, judiciously suspended further proceedings in the aftermath of the mamasapano massacre. Despite the overmastering influence of Senate President Franklin Drilon (another die hard ally of the president), it appears that some senators are independentminded after all. * * * Instead of enacting the BBL, Congress should approve a pending bill which prohibits naming public buildings and similar facilities after relatives of incumbent government officials. The importance of this bill is magnified whenever one traverses the road to the Batasang Pambansa complex in Quezon City. The school buildings there have been named after a relative of a very powerful incumbent city official back then.

to make sure that they become good parents to their children. We faced challenges squarely and surmounted them bravely. As we hug our last scholar, our last child to graduate from school, do not forget to pat your own back for a job well done. remember that somehow, we have also graduated from a huge task. Surely, we are now more reflective of our past, our cherished memories. This would be a lot of fun. However, we should not live in our past. We have to look and move forward as well. We may be aging but we remain productive. We can do things that matter to us personally and to the country. Perhaps now, we have more time to reclaim ourselves. Pursue things we have wanted to personally do. Get reunited with friends, go places, see the world. Go back to the books we have been postponing to read. exercise, go up the mountains, walk, swim, bowl, play badminton. Go back to our hobbies, do crafts, see the movies we missed, listen to the music of our generation, do some planting and farming. Pursue our passion, perhaps get a different kind of education? In my case, it will be cake decorating and jewelry making. Get involved in our community. Join a cause, an organization working on things close to our hearts. organize charities, help others. This will give us a different perspective, a different purpose, a different high. Never allow anyone to make us believe that the aging population is a wasted population. What we can do is only limited by our imagination and physical capacities. reminisce, look forward, reclaim ourselves, dream more, and do more. I have never been more excited to face my senior years. I say, bring it on! bethangsioco@gmail.com and @bethangsioco on Twitter

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sports sports@thestandard.com.ph

Spieth steals thunder from stars of Masters AUGUSTA—Jordan Spieth produced one of the greatest rounds of golf in major history on Thursday with a 64 to lead by three strokes after the first round of the 79th Masters.

The 21-year-old Texan at one stage looked in line to become the first player to shoot below 63 in a major -- a mark currently shared by 24 golfers -- but a poor approach shot to the 15th led to his only bogey and nudged the record agonizingly out of his grasp. Still, Spieth closed with a 20-footer for an ninth birdie at the last to surpass fellow young gun Rory McIlroy as the youngest player to have led the Masters after the opening round and underlined once again his huge potential. Tied for second on his debut last year, Spieth ended the day at Augusta National as sole leader, three shots clear of a rejuvinated South African veteran Ernie Els, England’s Justin Rose, Australian Jason Day and American Charley Hoffman. “It’s nice to put myself in a position now where I can really stay patient, dig in and keep giving myself opportunities and not worry about anything else,” Spieth said. “I can pretty much control my own destiny from here. And pleased to be in that position here again. “I was leading last year at one point by a couple of shots on Sunday, it didn’t go my way. “I know how many things can happen in a major championship and I try and learn from last year, and stay patient these next three rounds.” The superb performance by the young Texan eclipsed the two big storylines that were the talk of Augusta at the start of the day concerning Tiger Woods and Rory McIlroy. AFP

Jordan Spieth of the United States watches his tee shot on the 18th hole during the first round of the 2015 Masters Tournament at Augusta National Golf Club in Augusta, Georgia. AFP

Curry’s 45 points fuel Golden State OAKLAND—Stephen Curry had an electrifying night, draining eight three pointers en route to a 45-point performance to help the Golden State Warriors crush Portland 116-105 on Thursday night. Curry, who is bidding to win the league’s MVP award, broke his own NBA single-season record of 272 threes set two seasons ago. His reached the milestone on his fifth one from beyond the arc against the Blazers. He scored 17 points over the final five minutes and also handed out nine assists to keep the War-

riors from dropping three straight for the first time this season. Klay Thompson added 26 points and Draymond Green tallied 11 and 14 rebounds for the winners. LaMarcus Aldridge scored 27 points for the Blazers, who saw Arron Afflalo exit early with a sore shoulder. Damian Lillard finished with 20 points, eight assists and six rebounds in the loss. In Miami, Pau Gasol tallied 16 points and 15 rebounds as the

Chicago Bulls snapped a twogame skid with a 89-78 win over the Miami Heat on Thursday night. Chicago rallied from a 19-point halftime deficit, outscoring the Heat 33-8 in the third quarter before cruising to victory in the fourth. Taj Gibson also posted a double-double with 14 points and 12 rebounds, while Derrick Rose, who was playing in just his second game since returning from knee surgery, added 12 points. AFP

Jackes, Coseteng ready for kart wars KARTING action heats up as top young guns engage in yet another intense showdown for the titles at stake in the second leg of the 2015 National Karting Super Series today at the Batangas Racing Circuit. Eduardo Coseteng Jr. of Eagle Cement and Flynn Jackes of Team Kart Master Drakar-Singapore gear up for another heartstopping duel in both the Mini-ROK XCS and KF Restricted Blaze 100 classes of this event sanctioned by the Automobile Association Philippines and sponsored by Petron, Petron Blaze 100 Euro 4, Petron XCS, Petron Ultron, Petron Xtra, Petron Sprint, Magnolia Pure Water and Yokohama, the official tires. Coseteng scored a big triumph over Jackes in their head-to-head encounter for the KF Restricted Blaze 100 in the kickoff leg at the Carmona Racetrack. But Jackes exacted sweet revenge when he captured the Mini-ROK XCS crown over the fastimproving Rap Rap Gutierrez as Coseteng settled for third place. Joining them in the hunt for the Mini-ROK XCS title are Jarred Kim of Formula-E Racing and Constantin Reisch. Favored in the other divisions are Zach David of Formula-E Racing and Inigo Anton of Kart Plaza. David will be gunning for his second straight win in the Formula Cadet Expert Ultron over Joaquin Garrido, while Anton is eyeing his second victory in the Formula Cadet Novice Ultron over Kristine Yokoyama, Maverick Corpus and Constantin Reisch.

Tourism department Tubieron’s foe is a Hatton wannabe backs SEABA cagefest By Ronnie Nathanielsz THE Department of Tourism is playing an active role in the country’s hosting of the Southeast Asia Basketball Association Under-16 tournament, a qualifying event for the FIBA Asia Under-16 event, which will be held in Cagayan de Oro City. Famous for its whitewater rafting and kayaking adventures, Cagayan de Oro, which serves as a business hub and regional center in Northern Mindanao, will be staging the event from April 14 to 19. It will serve as the venue of the games to be participated by teams from Brunei, Myanmar,

Singapore, Malaysia and Indonesia are going to participate. The city is no stranger to staging basketball games. Cagayan de Oro has always been included in the calendar of the Philippine Basketball Association each time the league holds road games. It also has its own basketball team in the past, the Cagayan de Oro Nuggets/ Amigos. Cagayan de Oro’s prominent school, Xavier UniversityAteneo de Cagayan, has produced prominent basketball players, including future Hall of Famer Jojo Lastimosa and PBA player Nelbert Omolon.

WHEN Dennis “The Scorpion” Tubieron faces Britain’s undefeated Josh Warrington at the First Direct Arena in Leeds on Saturday, the 25-year-old Filipino will be facing a tough opponent who is bidding to become the new Ricky “The Hitman” Hatton. Warrington, a 24-year-old featherweight setting his sights on bringing the world title to Leeds, had an impressive 2014, in which he won the British Commonwealth and European belts. He is looking to continue his winning ways against Tubieron, who has a record of 19-3-2 with 8 knockouts and is coming off a hugely controversial majority draw

in a clash for the vacant World Boxing Council International featherweight title against Carlo Magali last Dec. 28. Warrington, on the other hand, outclassed Edwin Tellez in Berlin last February in his first bout outside the United Kingdom. In a video released by promoters Matchroom Sport showing behindthe-scenes training of Warrington, who prepares to make it 21 wins in 21 fights, he said: “I grew up watching Ricky Hatton from Manchester. I thought that was something special. I thought, ‘why hasn’t Leeds got that?’ I want to bring success to the city of Leeds. I want to bring world titles to Leeds. All the years of training and sacrifice all comes down to this one moment.”

TuBieRoN

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sports sports@thestandard.com.ph

Azkals grouped in Pot 3 of qualifiers By Peter Atencio

THE Philippines is included in the list of 40 nations taking part in the preliminary Joint Qualification Round 2 for the 2019 FIFA World Cup in Russia.

Ceremonial Toss. Barangay Captain Pablo Oldan of Mayamot, Antipolo City, makes the ceremonial toss opening the 3rd Barkadahan Bas-

ketbolista ni Senador Trillanes. Also in photo are project director Johny Tam and barangay kagawad Rico Paulo Estanislao. Backing the event are Joe Boxer, Felenitas Sardines, Cloudburst and Present Trading Co., J & E International Freight Forwarding, Burlington Socks, Fronte Motors, Firm Builders Inc., Grandsports and David Ong.

WTA offers discounted ticket prices SINGAPORE – Following the record-breaking success of last year’s BNP Paribas WTA Finals Singapore presented by SC Global, organizers World Sport Group today announced that tickets for the season-ending tournament go on sale to the general public beginning April 23. Ticket prices will start from as low as S$16.90 – same as last year – as part of a concerted effort to make the event as accessible as possible for fans. The 10-day sport entertainment spectacular features a record US$7 million

purse and takes place from October 23-November 1, 2015. The event will be hosted at the Singapore Sports Hub in Singapore through 2018. Leading tournament sponsors OCBC and StarHub will offer their customers early access to specially discounted tickets for a limited period, with deals starting from April 9 and April 16 respectively. Customers of both OCBC and StarHub will be able to enjoy up to 7 percent off their ticket price during this pre-sale period, and five percent off once

public sales begin on April 23. Season passes and bundled tickets have also been introduced this year to offer dedicated fans even greater savings. Round Robin Session Flexi-Passes and Season Passes for all 13 ‘mustattend’ sessions featuring the world’s top women tennis players will provide 10 percent savings on the cost of each ticket, while group bookings for 20 or more tickets and families of four will also be able to enjoy savings on their combined ticket costs. Special concession rates will also

be available for students and senior citizens, and there will be free admission to the Fan Zone and selected player practice sessions. The current Road to Singapore leaderboard comprises the following players (as of Monday, March 23) : 1. Serena Williams, 2. Maria Sharapova, 3. Simona Halep, 4. Kristina Pliskova, 5. Ekaterina Makarova, 6. Venus Williams, 7. Caroline Wozniacki, 8. Petra Kvitova. The leaderboard is updated each Monday at www.wtafinals.com.

Pagente snares Holt dims So’s chances 2 HEAD net titles By Peter Atencio

RODOLFO Barquin won over RJ Singson to win the boys’ 18-under singles crown, while Gennifer Pagente snared two titles yesterday in the fifth leg of Globe 17th HEAD Graphene XT Junior Tennis Satellite Circuit Dumaguete City leg at the Praxevilla tennis courts in Dumaguete City. Barquin defeated RJ Singson in the finals, 6-1, 6-1, to pocket the trophy, while Pagente whipped Shyryn Salazar in the championship round of girls’ 16-under singles’ division, 6-3, 6-3. Pagente also bagged the girls’ 14-under singles’ crown by outlasting Valerie Desoyo, 6-1, 6-0. The competition is sponsored by Globe Telecommunications, Chris Sports, Head ATP Tennis Balls,

Graphene XT, Toalson, Philippine Sports Commission and Philippine Tennis Association, along with Sports Radio 918AM, Home Radio 97.9FM Natural, Boracay Informer, Todo 88.5FM Aklan, Radyo Inquirer 990AM, Power Wheels Magazine, Motorcycle Magazine, Balikbayan The Asian Journal Magazine, Wazzup Pilipinas, Reach Magazine, Oishi and AMAX Inn Makati. In other championship singles’ results, Reyniel Marcilliana bashed Christian Lagat, 6-2, 6-4, to claim the boys’ 16-under crown; Ybarra Ortega blanked Fernando Caesar Po, 6-3, 6-1, to grab the boys’ 14-under crown; and Alekzander Po trounced Joshua Raymundo, 6-2, 6-4, for the 12-under title.

A WELL-PREPARED Conrad Holt pulled off an upset over Filipino grandmaster Wesley So in the eighth round of the 2015 US Open Chess championship in St. Louis, Missouri. So’s loss has dimmed his chances of winning SO his first American title, following Holt’s victory in 35 moves. It was So’s third loss in the tournament after the ninth seeded Holt (ELO 2530), playing white, used the popular Russian System against the Filipino’s Gruenfeld Defense. Holt’s queen b3 move on the fifth was key to the win, as the 2788 Elorated So was eventually forced to sacrifice an exchange for two pawns and dynamic play. He should have had enough compensation with the move, according to analysts, but So erred on the 20th

with a pawn b5 move, Things went downhill for So afterwards when he lost another pawn. From there, Holt, the 2014 US Open Champion, had only a few problems converting his decisive material advantage. In the top board, solo leader GM Hikaru Nakamura won in 35 moves over Troff Kayden. Nakamura chose the risky Benoni Defense against Troff, bringing the fight for control over critical kingside squares. He is close to winning the tournament six points for the solo lead, while Ray Robson, who drew with Samuel Shankland, trails with 5.5 points. So shares third with Gata Kamsky and Alexander Onischuk with 4.5 points.

With the Philippine Azkals’ national football team expected to take part, the draw for the preliminary competitions--the Asian Football Confederation Asian Cup UAE 2018 Qualifiers--will be held on April 14. The Azkals have been bracketed in Pot 3, based on the latest FIFA World Ranking released on Thursday, according to information released by organizers on AFC.com. During the draw, the teams will be divided into five pots, from which the teams will be drawn into eight groups of five teams. The Top 8 Asian teams are in Pot 1, namely Iran, Japan, Korea Republic, Australia, UAE, Uzbekistan, China and Iraq. The ninth to 16th squads are in Pot 2--Saudi Arabia, Oman, Qatar, Jordan, Bahrain, Vietnam, Syria and Kuwait With the Philippines in Pot 3 are Afghanistan, Palestine, Maldives, Thailand, Tajikistan, Lebanon and India Teams ranked from 25th to 32nd are Timor-Leste, Kyrgyzstan, DPR Korea, Myanmar, Turkmenistan, Indonesia, Singapore and Bhutan and they are in Pot 4. Pot 5 (teams ranked 33rd to 40th) consists of Malaysia, Hong Kong, Bangladesh, Yemen, Guam, Laos, Cambodia and Chinese Taipei Nations placed in the same pot will not face each other during the Preliminary Joint Qualification Round 2 matches, according to the rules. Instead, the teams will compete in a double, round-robin format. The Round 2 qualification matches will be held from June 11, 2015 to March 29, 2016.

Thai scores record romp THAI Wichanee Meechai marked her debut on local turf in style, winning the ICTSI Splendido Ladies Invitational crown with a record 15-stroke romp over compatriot Walailak Satarak and Sarah Ababa despite a one-over 73 at Splendido Taal Golf Club in Tagaytay yesterday. Meechai actually nailed it right after the second round of the 54hole tournament with a solid 69-68 output that put her 13 shots ahead of another Thai Pennapa Pulsawath, reducing the final round to a victory walk for the former Ladies Asian Golf Tour campaigner. She actually birdied the opening hole but made a double bogey on No. 5 and dropped another stroke on the eighth. Still, her 38 at the turn hardly put a dent on her huge lead as the rest also struggled in demanding condition at one of the country’s most challenging courses. Satarak, Ababa and Pulsawath turned in similar 35s at the front but failed to even cut Meechai’s doubledigit lead.

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SPORTS sports@thestandard.com.ph

When ‘greatness’ is questioned THE furor continues over the highly questionrONNiE able selection of NAThANiELsz the 15 additional Philippine Basketball Association players who, combined with the first 25, who were honored on the 25th anniversary of the PBA, made up the 40 “Greatest Players” acclaimed at a gala dinner at the Resorts World Hotel the other day. A moment for celebration turned into a moment of recrimination as PBA fans ripped the selection of players, who they quite rightly felt didn’t deserve the honor of being named to the roster of the league’s greatest players, while several who were far more deserving of recognition were effectively ignored. We take pride in the fact that when a nomination committee which we chaired selected the 25 greatest players to celebrate the 25th anniversary of the longest-running professional basketball league next to the NBA, there were no complaints and the choices were well received. Basic criteria was set, players were nominated and their credentials, which included statistics, were carefully studied. The process took several hours and was marked by a seriousness that was fitting when we consider the significance of the choices. Later on, the members of the nomination committee voted by secret ballot and the Top 25 players emerged based on the vote which was conducted after hours of deliberation. We then made a presentation to the Executive Committee of the PBA Board of Governors, who unanimously ratified the 25 selected players. By all accounts this time around, the selection of the additional 15 players was done with far less seriousness and with no basic premises for a player to be nominated. Take a couple of blatant examples of terrible mistakes. How in the name of sanity could the committee have selected Kerby Raymundo over Nelson Asaytono who, in a well done statistical comparison by the spin.ph staff, showed Asaytono beating the hell out of Raymundo in every statistical match-up except one with Kerby winning a single Finals MVP award, while Nelson had none as against Asaytono’s 2 “Best Player of the Conference” awards to none for Raymundo, 7 championships to 4. 3 Mythical first team to 1. It goes on and on. How too could the committee exclude Olsen Racela, Bong Hawkins, Abe King and Danny Seigle all of whom had an impact in the PBA and the games they played? While we admire the superb showing of Jayson Castro, James Yap and Mark Pingris, they are still active players in the league and surely they could wait for their time to come. What was the inordinate hurry to include these three? What further aggravated the situation and turned off many, was the decision of the PBA Commissioner’s Office to include a congressman in the committee. At a time when public perception of congress is at its lowest, to include a congressman in the committee to select 15 of the greatest PBA players was foolhardy to say the least. We don’t know as yet whose idea it was to name the congressman and by so doing introduce a political dimension to the PBA. Indeed, politics has been the cancer that has had debilitating effects on Philippine sports and to introduce a political element into the PBA has hurt the institution. We recall that when our beloved friend, the late Commissioner Rudy Salud decided to be one of the leaders of the presidential campaign of Ambassador Eduardo “Danding” Cojuangco, he resigned his post even though the board wanted him to stay on and merely go on leave until the elections were over. Rudy, whose principles shone like a beacon amidst the darkness of sullied integrity and lack of decency, good sense and ethical conduct in national society, was not prepared to allow the PBA which was an institution close to his heart, mainly because it was a source of enjoyment to millions of Filipinos, to risk being tarnished in any way. Now, because the integrity of the selection process has been compromised and the obvious lack of a quality of wholeness in the eventual selection of 15 players, who were added to the original 25 greatest players, greatness is being seriously questioned. iNsidE spOrTs

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Coffee artist Zach Yonzon makes coffee latte art with the images of Filipino ring icon Manny Pacquiao and his May 2 opponent Floyd Mayweather Jr. at the Bunny Baker Cafe in Quezon City. Customers can request to have their coffee decorated with such art works, but they will have to shell out from P125 to P220 per cup. DANNY PATA

Arum confident ticket problems will be solved By Ronnie Nathanielsz

PROMOTER Bob Arum is confident that the problem over tickets as well as rooms allocated to Top Rank will be solved even as he assured fight fans that the May 2 showdown between eight-division champion Manny Pacquiao and undefeated Floyd Mayweather Jr. is not in jeopardy. Arum told the Standard/ boxingmirror.com that “the problem in the term sheet is a problem that will be solved and it will not affect the fight.”

He revealed that CBS president and Chief Executive Officer Les Moonves will act as arbiter in case of a problem and will make a decision right away.

Moonves was in large part responsible for making the fight happen. Arum was irate on Wednesday over the delay in delivering Top Rank’s share of the fight tickets, with Arum telling Yahoo Sports that he needed to have the tickets and hotel rooms secure for the numerous commitments Pacquiao has made to Filipinos, who are coming to Las Vegas for the fight. Taking a dig at the MGM Grand, with whom he had a nasty exchange when they put up streamers promoting a

Mayweather fight at the time Pacquiao was to fight Timothy Bradley in a rematch, Arum said they have no contract, nothing for the fight and added: “What is happening is absolutely intolerable.” However, Mayweather Promotions’ CEO Leonard Ellerbe suggested that Arum needed to relax and that everything will be worked out. Ellerbe said the tickets were delivered to the MGM on Wednesday and promised “Bob’s going to get his tickets and his hotel rooms. That’s all been specified in the contract.”

Fashion designer takes volley game to next level By Peter Atencio AN aspiring fashion designer is making her presence felt in the Philippine Superliga All Filipino Conference. Janine Navarro, a 20-year-old student from the College of St. Benilde, took her game to the next level last Monday when the Cignal HD Spikers finally scored their first win. Hitting a total of 14 points, Navarro led the HD Spikers to a 2518, 25-16, 25-15 victory over the Shopinas Lady Clickers. “I played some games for my school. My muscles felt kind of sore in our first two games. But after resting during the Holy Week I felt so refreshed when I played again,” said Navarro.. The HD Spikers were finally able to score their first win during the 77-minute encounter. Navarro, who plays as an open

hitter, struck hardest in the third set. The HD Spikers pulled away, 8-2, with Carmela Tunay taking charge with her spikes. Tunay, Maricar Nepomuceno and Jeannette Panaga joined forces with Navarro as they took control of the game. Navarro’s two drop shots at the left flank allowed the HD Spikers to gain headway, 16-7. “I told my players to take our first two losses as a challenge. And they did,” said HD Spikers coach Sammy Acaylar. The CSB Lady Blazers, with Navarro around, finished fourth in the recent NCAA volleyball tournament. The team’s campaign in the NCAA, which ended last month, took its toll on her. Games Today (Cuneta Astrodome) 2:30 p.m. • Foton vs Philips Gold 4:30 p.m. • Petron vs Mane ‘N Tail

Janine Navarro fashions out a win for Cignal HD Spikers

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SPORTS sports@thestandard.com.ph

TNT goes for the kill; Hotshots aim for tie By Jeric Lopez

IS Talk ‘N Text 48 minutes away from taking the last finals berth or will Purefoods force a rubber match? The finals-seeking Tropang Texters and the in-danger Star Hotshots go at it again in Game 4 of their best-of-five semifinal battle in the 2015 Philippine Basketball Association Commissioner’s Cup. Ahead, 2-1, and a win shy of the finals, Talk ‘N Text aims to close out the series, but defending champion Purefoods isn’t

expected to just roll over and die as the two meet at 5 p.m. in Game 4 today at the Smart Araneta Coliseum. Talk ‘N Text coach Jong Uichico downplayed his team’s advantage and is very wary of the resiliency of Purefoods. He knows he won’t be able to breathe comfortably until his team finishes

the job and punches the last ticket to the finals. “We still need another game. We need to be ready to avoid danger. They are capable of making adjustments. Purefoods has been here a lot of times and they’re very capable,” said Uichico. “This will be another tough game. Every game against Purefoods is tough. Both teams will play at their best again. We can’t afford to be forced to a Game 5 where it can go either way at that point.” Should the Tropang Texters win and dethrone the Hotshots, they will face a waiting Rain or Shine, which is in enjoying a

lengthy rest after easily sweeping Meralco in its own semis series The best-of-seven championship round starts next week. After losing the series opener and falling behind 0-1, the Tropang Texters suddenly found their groove as they took the next Games 2 and 3 by showing composure and execution that even the championship-tested Hotshots weren’t able to handle. Talk ‘N Text unleashed a stunning barrage from rainbow territory as it connected on 19 triples in Game 3 to score a 111-107 grinder over Purefoods and grab the pivotal series lead, 2-1.

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anybody” during his morning run and “looks great and is in terrific shape.” Former NBA superstar Karl Malone of the Utah Jazz also paid Pacquiao a visit at the gym and wished him all the best in his May 2 showdown against Floyd Mayweather Jr. Paquiao’s adviser Michael Koncz told mediamen: “No interviews at this time please.” Pacquiao himself and trainer Roach also declined to give interviews to Filipino journalists, who waited at the gym and later outside the Filipino’s home.

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In an international conference call after the fight was announced, the top executives of Showtime and HBO Sports indicated there was lots of work to be done ahead of the fight. However, Stephen Espinoza said: “The reality is, if it’s something the fans want and something the fighters want, then the networks will find a way to make it happen.”

Mark Barroca of Purefoods Star Hotshots loses his balance after going for the rebound against Ivan Johnson of Talk ‘N Text in a PBA Commissioner’s Cup game won by the Texters, 111-107, at the Araneta Coliseum on Thursday. LINO SANTOS

CROSSWORD PUZZLE Saturday, April 11, 2015

ACROSS 1 1917 abdicator 5 Earth tone 10 Salad bowl wood 14 Angler’s hope 15 Gullible 16 Wrist bone 17 Portico 18 Stripes 19 Warden’s fear 20 They may be carved 22 Sophisticated 24 Rub the wrong way 25 Tijuana Ms. 26 Nerdy cap 29 They may be hidden 33 Pantyhose brand 34 Grind down 36 NASA counterpart 37 Onassis nickname 38 Breathes hard 39 Folks 40 Zilch 41 Finishes up 42 Ekberg or Garbo 44 Staying fresh 47 Porch furniture 48 Suds ingredient 49 Help-wanted abbr.

50 53 58 59 61 62 63 64 65 66 67

Lacking pigment Perfect Lounge about Slicker “Darn!” Type of food Vikings Joy Adamson’s pet Grand Ole — Jacket choice Shy creature

DOWN 1 Cookbook qty. 2 In — (as found) 3 Fermi split it 4 Realizing, as profits 5 Different 6 Principal 7 Dumpsters 8 Festive night 9 Makes a comeback 10 Snake charmer’s attire 11 Charles Lamb 12 Erelong 13 Petruchio’s bride 21 Wavy-bladed dagger 23 I-70 25 Flavors the popcorn

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26 Fake bullet Street’s penner 27 Paranormal, 56 Courtesy env. to some 57 Galaxy unit 28 Nimble 60 Intimidates 30 Fooled the goalie 31 All kidding — PREVIOUS PUZZLE SOLVED 32 More in touch 34 Krait’s weapons 35 Gary’s st. 38 Ink spot (2 wds.) 42 Not busy 43 Brandished 45 Quaker State burg 46 Type of microscope 47 — up (ready) 50 Plus 51 Coil around 52 Smudge 53 Caveman discovery 54 — majeste 55 Della 4-11-15 © 2015 UFS, Dist. by Univ. Uclick for UFS

A15 LOTTO RESULTS 6/45 00-00-00-00-00-00 P0.0 M+ 4 DIGITS 00-00-00-00 3 DIGITS 00-00-00 2 EZ2 00-00

Coaches’ training jumpstarts soccer meet THE Ambassadors Cup returns with the coaches of the 11 partner communities and guest teams putting their mental and physical preparedness to the test in an all-day futsal training at the University of Asia and the Pacific on April 12, with lectures by Team Socceroo Football Club and the Philippine Football Federation. Brothers Michael and Paulus Reyes of TSFC, together with PFF coaches, will teach the participants technical football, strengths and conditioning, mental games, Philippine football, and values formation. Practical training is set in the afternoon. This year’s PH mini-World Cup involves the participation of the embassies of Chile, Timor Leste, Spain, United Kingdom of Great Britain and Northern Ireland, Nigeria, Canada, Mexico, United States of America, South Africa, Argentina, and first-time entrant Germany. Dream Big Pilipinas and A N Z Pilipinas join the roster of competing communities, which include Birhen ng Lujan Parish, GK Pinagsama, GK Barangka, GK Tatalon, Barangay Sampaloc II, Immaculate Conception Cathedral Soup Kitchen, Western Bicutan Football Club, and San Ildefonso Parish. The Ambassadors Cup, a grassroots outreach project of UA&P, aims to foster in children from underprivileged communities a love for virtues and values through futsal (indoor football) training and competition. Participating embassies partner with a chosen community and oversee the youth’s general grassroots football training for six weeks before competing against teams from other communities during the tournament.

CYAN MAGENTA YELLOW BLACK S AT U R D AY : A P R I L 1 1 , 2 0 1 5

A16

RIERA U. MALL ARI EDITOR

REUEL vIDAL A S S I S TA N T E D I T O R

sports@thestandard.com.ph

sports

By ronnie nathanielsz

UNDEFEATED poundfor-pound king Floyd Mayweather Jr. has provided an insight into his real feelings about the classic multi-million dollar showdown with eightdivision world champion Manny Pacquiao at the MGM Grand Garden Arena on May 2 (May 3 in Manila). The Showtime network, which is on the fifth fight of a six-bout $200-million deal it signed with Mayweather, has ramped up the anticipation for what Philippine TV rights’ holders Solar Entertainment promotes as “The Battle for Greatness” in a short promotional video from inside the training camp of Mayweather in his Las Vegas gym. (See related story on A14) “This is an unbelievable matchup. I’m in the gym working right now, dedicating myself to the sport, pushing myself to the limit. I have never wanted to win a fight so bad in my life,” Mayweather explained. Meanwhile, in a brief appearance with the Mexican legends, whom he beat such as Marco Antonio Barrera and Erik “El Terrible” Morales on Mexican television, Pacquiao said: “I don’t worry about this fight. I was more worried when I fought Oscar De La Hoya, Miguel Cotto and Antonio Margarito.” World Boxing Council president Mauricio Sulaiman, in an interview with boxing writer and TV reporter James Blears sent to the weekly boxing show “The Main Event” over Pinoy Box Office on Sky Cable in the Philippines, said there was a clear difference in the way Mayweather and Pacquiao present themselves. Sulaiman noted that both fighters showed tremendous confidence, with Mayweather “concentrated” and a “very peaceful Manny Pacquiao.” “They have been in great fights and they have been under pressure,” Sulaiman said. “Both Pacquiao and Mayweather are completely ready and could fight tomorrow. They are mentally ready and only have to get ready physically.” When the possibility of a rematch was brought up, Sulaiman said such a decision will have to be made after May 2, although he said the showdown “has the potential to be a great fight. Turn to A15

‘I have never wanted to win a fight so bad’ “this is an unbelievable match-up. I’m in the gym working right now, dedicating myself to the sport, pushing myself to the limit,” said Mayweather.

Pacquiao skips training for 2nd day in a row EIGHT-DIVISION world champion Manny Pacquiao skipped training for the second day in a row, but went jogging at Pan Pacific Park yesterday morning. He was supposed to spar, but while Pacquiao was in the Wild Card Gym of trainer Freddie Roach, the US Anti Doping Agency technicians showed up and extracted four vials of blood

as part of the random drug tests that both he and Floyd Mayweather Jr. are being subjected to. Top Rank promoter Bob Arum said Pacquiao didn’t want to keep the USADA technicians waiting until he finished training and decided to ask them to get his blood and urine samples before his training. (See related story on A14)

Navarro takes game to next level turn to A14

CYAN MAGENTA YELLOW BLACK

“Since it took a while to get it done, Freddie (Roach) asked Manny to take off,” said Arum, who told the Standard/boxingmirror. com, he was informed that Mayweather Jr. was “getting hit a lot by his sparring partners and couldn’t spar for a few days because his lip was cut and they had to manufacture a special headgear that also

covered his lips because every time Floyd got hit, it bled.” Top Rank publicist Fred Sternberg said that after the USADA people took Pacquiao’s blood and urine, “he didn’t seem like he wanted to train,” but emphasized there is nothing to worry about because “he was faster than Turn to A15

Spieth steals Masters’ thunder turn to A12

CYAN MAGENTA YELLOW BLACK

SATURDAY: APRIL 11, 2015

RAY S. EÑANO EDITOR

RODERICK T. DELA CRUZ ASSISTANT EDITOR

business@thestandard.com.ph extrastory2000@gmail.com

BUSINESS GOVT OFFERS P17-B DAVAO SASA PORT

1st seaport auction up Unique products.

By Darwin G Amojelar

Trade Undersecretary Ponciano Manalo Jr. (left) poses with Phillips Collection chief executive and president Mark Phillips (right) in one of the Manila FAME’s booths displaying pieces designed by multiawarded artist Ann Pamintuan (center) during the 61st edition of the Manila FAME at the SMX Convention Center in Pasay City on March 13, 2015. Phillips Collection is engaged in the wide range of home designing and furnishing business. It sources its products from the Philippines, sells in the US, and has showrooms in New York, Las Vegas, Atlanta, Dallas and High Point.

THE Transportation Department will bid out the first publicprivate partnership seaport project under the Aquino administration.

Transportation and the Philippine Ports Authority are inviting local and international companies to submit a bid to finance, design, redevelop, operate and maintain the P17-billion Davao Sasa Port Modernization Project. The Davao Sasa Wharf is the country’s major port for bananas, one of the Philippines’ biggest exports. It has a capacity of 700,000 twenty-foot equivalent units, but the PPA had forecast volumes to increase to 1.2 million TEUs in the next five years. The winning bidder will modernize the existing Davao Sasa port, including the construction of a new apron and linear quay, expansion of the back-up area, container yards and warehouses, and the installation of new equipment like shipto-shore cranes and rubber-tyred gantry. It will also be responsible for operating and maintaining the port for 30 years. The government bared two stages for the auction--prequalification on minimum legal, technical and financial criteria set by DPWH and the formal bids. It said the invitation documents would be available starting April 14 for a non-refundable fee of P300,000. Transportation and the PPA appointed The Development Bank of the Philippines and International Finance Corp., the investment arm of World Bank Group, as advisors for the international competitive bidding.

PSe comPoSite index Closing April 10, 2015

8500 8000 7500 7000 6500 6000

8,127.48 74.79

PeSo-dollar rate

Closing APRIL 10, 2015 46

P44.550

44 43 42

HIGH P44.480 LOW P44.550 AVERAGE P44.515 VOLUME 587.500M

P508.00-P728.00 LPG/11-kg tank P38.40-P52.05 Unleaded Gasoline P26.90-P43.80 Diesel

oPriceS il P today

P35.40-P39.15 Kerosene P23.70-P24.40 Auto LPG Bangko Sentral ng Pilipinas Friday, April 10, 2015

F oreign e xchange r ate Currency

Unit

US Dollar

Peso

United States

Dollar

1.000000

44.5590

Japan

Yen

0.008295

0.3696

Pound

1.471700

65.5775

Hong Kong

Dollar

0.129041

5.7499

Switzerland

Franc

1.023227

45.5940

Canada

Dollar

0.794597

35.4064

Singapore

Dollar

0.735835

32.7881

Australia

Dollar

0.770119

34.3157

Bahrain

Dinar

2.652520

118.1936

Saudi Arabia

Rial

0.266610

11.8799

Brunei

Dollar

0.733138

32.6679

Indonesia

Rupiah

0.000078

0.0035

Thailand

Baht

0.030731

1.3693

UAE

Dirham

0.272257

12.1315

Euro

1.066300

47.5133

Korea

Won

0.000914

0.0407

China

Yuan

0.161134

7.1800

India

Rupee

0.016072

0.7162

Malaysia

Ringgit

0.275710

12.2854

New Zealand

Dollar

0.754717

33.6294

Taiwan

Dollar

0.032036

1.4275 Source: PDS Bridge

CYAN MAGENTA YELLOW BLACK

BoI okays 3-year investment plan guidelines By Othel V. Campos THE Board of Investments has approved the general policies and specific guidelines to implement the 2014-2016 Investments Priorities Plan. Previously drawn up annually, the new IPP is a three-year document that will be subjected to annual review. President Benigno Aquino III approved the new IPP by issuing Memorandum Order No. 74 on Oct. 28, 2014.

Trade Undersecretary Adrian Cristobal Jr. said the experience and support of stakeholders, especially the private sector, played a significant role in the preparation of the IPP and in the formulation of policies that provide clear directions for industry development and growth. The previous IPP contained a list of economic activities enumerated in Executive Order No. 226 or the Omnibus Investment Code of 1987 that are

entitled to tax incentives. It also promotes inclusive business, corporate social responsibility and good corporate governance as tools for development. Both versions created a list of preferred activities, policies and guidelines but the present IPP included the planning process, the core strategies, sector briefs and the principle of geographical application. The principle of geographical application underscored the

relevance and impact of an economic activity in a particular region, province, or a cluster of local government units pertaining the utilization of incentives. Extensive consultations were also conducted. The new IPP focuses on eight preferred activities, including manufacturing, agribusiness and fishery, services, economic and low-cost housing, hospitals, energy, public infrastructure and logistics and public-private partnership projects.

SATURDAY: APRIL 11, 2015

BUSINESS business@thestandard.com.ph extrastory2000@gmail.com

MST BuSineSS Daily STockS Review Friday, april 10, 2015

52 Weeks

High Low

STOCKS

7.88 75.3 124.4 104 63 2.49 4.2 4 18.48 31.6 9.5 2.95 890 1.01 99.4 1.46 30.5 75 94.95 137 361.2 59 174.8 127.9 3.26

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

47 5 1.66 2.36 15.3 113 20.6 125 32 65.8 4.57 23.35 21.6 12.98 9.13 12.34 2.89 31.8 109 20.75 0.820 15.3 9.4 0.98 241 12.5 79 4 33.9 90 13.98 292.4 5 5.25 13.04 14.5 7.03 3.4 4.5 6.68 8.1 253 3.28 0.315 2.5 2.68 226.6 5.5 1.3 2.17

2.5 66 84.6 84.5 45.8 1.97 2.03 8.7 12.02 23.55 6.3 1.75 625 0.225 78 0.9 18.02 58 76.5 95 276 45 107.6 66 2.65

High

7.1 71 118.50 102.50 45.8 2.33 2.20 9.5 16.76 24.75 9.10 1.69 760.00 0.440 97.9 0.98 18.30 31.00 75.45 94.90 336 45 177 69.10 3.1

Low

FINANCIAL 7.1 71 120.10 106.00 46.9 2.33 2.18 10.16 16.6 24.75 10.40 1.79 765.00 0.445 99.95 1 18.30 31.00 78.95 94.90 339.8 45.8 180 69.50 3.1

7 70.1 117.70 102.00 46.5 2.30 2.15 10.14 16.5 24.35 9.16 1.53 764.50 0.440 97.55 0.98 18.30 31.00 75.95 94.50 330 44.9 173.6 69.20 3.08

Net Foreign

Change Volume

Trade/Buying

7 71 119.80 106.00 46.6 2.33 2.17 10.16 16.5 24.4 9.80 1.79 765.00 0.440 99.6 0.98 18.30 31.00 78.00 94.90 336 45.1 176.9 69.40 3.08

-1.41 0.00 1.10 3.41 1.75 0.00 -1.36 6.95 -1.55 -1.41 7.69 5.92 0.66 0.00 1.74 0.00 0.00 0.00 3.38 0.00 0.00 0.22 -0.06 0.43 -0.65

105,500 12,440 4,796,960 3,586,830 49,500 16,000 190,000 1,200 20,200 3,301,100 52,300 27,000 70 290,000 6,083,290 144,000 17,400 10,000 273,080 570 300 297,500 1,596,660 28,190 80,000

45 1.65 1.1 1.98 12.36 48.4 19.5 200 34.3 59.7 1.81 12.66 18.800 11.48 8.37 9.94 2.11 29.55 99 15.20 0.4700 14.30 6.3 0.600 217.00 9.26 33.55 3.61 26.5 26 7.830 262.00 3.88 4.12 9.79 11.66 4.05 2.55 3.15 4.86 6.5 203 1.7 0.171 1.38 2.23 222.2 4.54 0.7 1.49

-0.44 0.00 0.00 -1.98 -0.16 -3.20 -0.81 -17.70 -0.29 0.00 0.56 6.57 0.53 0.53 1.45 1.43 -10.59 -1.50 0.20 0.00 0.00 -0.14 0.00 -1.64 -0.18 -0.43 0.15 49.79 -1.30 1.17 -0.25 -0.38 -9.77 0.00 1.03 1.39 -2.17 -0.39 1.61 -1.62 5.52 -0.10 2.41 0.59 6.15 -0.45 -2.29 0.00 -2.78 1.36

3,219,400 10,000 942,000 9,732,000 43,900 29,100 1,063,100 810 275,700 2,121,820 117,000 312,700 15,366,900 904,200 27,162,200 1,478,400 259,000 5,005,100 651,820 8,600 20,000 6,000 362,800 208,000 1,146,790 581,900 400 199,000 1,210,500 2,474,600 37,800 658,440 28,000 226,000 1,030,900 21,400 750,000 784,000 1,052,000 3,027,000 1,000 24,040 710,000 1,190,000 42,000 2,003,000 3,826,800 2,000 1,012,000 43,000

0.470 58.10 27.10 1.39 7.05 1.90 0.28 0.29 800.5 8.77 15.76 4.55 0.330 1336 6.15 74.30 6 8.76 0.79 16.68 0.66 4.72 5.15 0.0410 0.780 67.70 970.00 1.20 263.20 102.00 0.4000 0.2340 0.330

0.00 0.52 0.74 0.00 0.14 5.56 0.00 -3.33 0.06 1.27 2.34 0.00 1.54 -0.60 -0.81 -0.54 27.39 -0.11 -3.66 -0.60 -1.49 1.51 2.79 2.50 0.00 0.74 3.41 0.00 0.00 0.99 -1.23 -4.49 0.00

220,000 932,230 12,629,700 56,000 1,300 8,000 5,530,000 510,000 631,330 2,733,300 8,133,900 14,000 950,000 328,575 564,300 3,804,000 8,000 4,332,300 1,161,000 2,309,200 159,000 50,412,000 105,000 400,000 2,608,000 367,240 939,430 102,000 130 2,430 2,470,000 150,000 180,000

8.740 10.90 0.90 1.310 0.245 40.75 4.28 5.24 6.49 0.94 1.01 0.156 0.470

1.16 1.87 -1.10 0.00 2.08 1.88 1.42 0.77 0.15 -1.05 0.00 4.70 -1.05

894,300 6,200 924,000 2,000 570,000 17,755,300 3,667,000 278,700 1,000 1,821,000 31,000 19,030,000 450,000

29,466.00 827,662.50 -209,358,875.00 98,895,031.00

-3,081,835.00 7,680

52 Weeks

High Low 1.09 0.305 2.25 1.87 1.8 5.73 0.180 0.470 0.72 8.54 31.8 2.29 3.6 20.6 1.02 7.56 1.96 8.59

STOCKS

0.85 0.188 1.4 1.42 1.19 4.13 0.090 0.325 0.39 2.57 21.35 1.64 3.08 15.08 0.69 3.38 1 5.69

Empire East Land Ever Gotesco Global-Estate Filinvest Land,Inc. Interport `A’ Megaworld MRC Allied Ind. Phil. Estates Corp. Phil. Realty `A’ Primex Corp. Robinson’s Land `B’ Rockwell Shang Properties Inc. SM Prime Holdings Sta. Lucia Land Inc. Starmalls Suntrust Home Dev. Inc. Vista Land & Lifescapes

High 0.880 0.197 1.50 1.95 1.47 5.76 0.132 0.3550 0.5200 7.81 29.25 1.79 3.33 20.60 0.82 7.7 1.100 8.200

Low

0.890 0.195 1.60 2.02 1.47 5.94 0.136 0.3550 0.5200 7.88 30.35 1.86 4.90 20.90 0.83 7.6 1.080 8.220

0.880 0.193 1.54 1.91 1.43 5.72 0.129 0.3550 0.4900 7.81 28.75 1.78 3.13 20.30 0.81 7.57 1.050 7.980

Net Foreign

Change Volume

Trade/Buying

0.880 0.195 1.57 1.93 1.47 5.88 0.134 0.3550 0.5100 7.86 28.75 1.79 3.24 20.65 0.82 7.6 1.050 8.100

0.00 -1.02 4.67 -1.03 0.00 2.08 1.52 0.00 -1.92 0.64 -1.71 0.00 -2.70 0.24 0.00 -1.30 -4.55 -1.22

202,000 350,000 4,487,000 37,715,000 489,000 51,554,400 3,260,000 100,000 257,000 155,600 3,341,400 4,323,000 71,000 15,598,900 69,000 87,000 408,000 15,916,400

6.8 61.9 1.02 0.700 14.06 11.80 0.1170 3.7 87.3 10.06 1.68 7.00 990 2200 6.50 1.56 111 7.25 24 11.98 0.015 0.238 1.2400 2.86 8.88 2.08 1.35 2.10 3.10 0.700 10.4 0.355 0.480 18.3 4.53 108.50 14.08 2972.00 0.600 1.670 40.95 84.25 10.28 0.68 2 6.68 0.350 1.380

-1.31 0.98 -1.92 1.45 0.43 3.33 0.00 -1.60 1.51 0.00 -8.70 0.29 0.51 0.00 -0.46 1.30 1.37 11.37 50.00 0.00 0.00 -0.83 -2.36 6.72 3.26 1.46 -6.90 0.48 -7.46 1.45 1.76 -2.74 2.13 -0.44 -1.52 -2.25 1.59 1.09 0.00 -0.60 0.37 -0.53 1.38 0.00 -1.48 0.45 -1.41 -0.72

206,600 23,170 12,000 1,108,000 2,600 37,314,000 76,500,000 199,000 1,415,720 800 700,000 1,115,000 600 210,970 222,100 72,000 1,359,670 6,900 600 39,100 5,800,000 2,320,000 70,000 59,000 694,900 9,000 78,000 2,000 10,000 179,000 16,824,800 590,000 80,000 179,700 3,000 1,120 639,400 245,900 224,000 26,119,000 1,566,500 1,599,580 8,845,500 727,000 18,000 598,600 110,000 14,000

0.0057 2.72 8.61 11.00 0.255 6.9000 6.9800 1.11 0.92 8.24 2.09 0.380 0.244 0.245 0.0140 0.0140 4.66 23.25 3.72 0.7300 2.070 0.0130 0.0140 5.70 6.92 2.06 0.016 166.20 4.1 0.0110

-1.72 -2.16 -0.92 1.85 -3.77 -1.43 0.00 0.00 -1.08 2.36 -5.00 1.33 3.39 1.24 0.00 -6.67 -5.09 -2.72 -7.00 0.00 -5.05 0.00 0.00 3.07 -3.89 -14.88 0.00 -0.36 -1.20 -8.33

1,123,000,000 58,000 208,900 -25,850.00 500 860,000 3,600 5,500 -38,390.00 696,000 679,880.00 445,000 35,300 23,880.00 19,349,000 -7,899,830.00 3,110,000 17,800,000 10,640,000 48,200.00 85,300,000 4,300,000 -4,200.00 1,578,000 -956,590.00 4,495,600 55,324,095.00 19,156,000 -17,323,640.00 409,000 3,728,000 -5,080,460.00 3,800,000 80,000,000 6,900 1,976,000 -1,861,051.00 1,203,000 536,410.00 14,000,000 386,170 5,702,671.00 45,000 1,700,000

62.9 515 115.5 508 6.39 1.07 108.8 1080 1105 1046 75.95 84.75 4.05

1.70 0.00 0.17 0.10 0.00 0.00 -0.18 0.00 0.45 0.00 0.00 0.24 50.00

240,410 3,460 8,600 1,990 35,800 1,000 9,400 50 400 220 71,840 12,180 58,000

1,352,353.50 -51,500.00

4.160 4.98

4.00 11.91

1,821,000 15,000

340,460.00

8.56 5.44 72.9 9.88

0.71 49.86 -0.14 0.10

1,662,300 73,000 360 1,127,600

288,600.00

0.84

263,860

-2,686,560.00 20,776,350.00 52,944,215.00 5,340.00 -35,256,290.00 -4,520,130.00 -69,513,395.00

MST 35.6 1.6 1.04 1.41 7.92 40.3 14.6 62.5 10.08 29.15 1.04 10.72 8.44 9.79 5.43 9.54 1.06 18.06 67.9 14 0.0076 13.24 3.12 0.395 168 8.65 34.1 1.63 24.4 16.2 7.62 250.2 3.37 3.87 9 9.94 3.03 2.22 1 4.72 6 201.6 1.67 0.122 1.02 2.01 143.4 4.28 0.670 1.39

Aboitiz Power Corp. Agrinurture Inc. Alliance Tuna Intl Inc. Alsons Cons. Asiabest Group Bogo Medelin Century Food Chemphil Cirtek Holdings (Chips) Concepcion Da Vinci Capital Del Monte DNL Industries Inc. Emperador Energy Devt. Corp. (EDC) EEI Euro-Med Lab First Gen Corp. First Holdings ‘A’ Ginebra San Miguel Inc. Greenergy Holcim Philippines Inc. Integ. Micro-Electronics Ionics Inc Jollibee Foods Corp. Lafarge Rep Liberty Flour Mabuhay Vinyl Manila Water Co. Inc. Maxs Group Megawide Mla. Elect. Co `A’ Panasonic Mfg Phil. Corp. Pepsi-Cola Products Phil. Petron Corporation Phinma Corporation Phoenix Petroleum Phils. Phoenix Semiconductor Pryce Corp. `A’ RFM Corporation Roxas Holdings San Miguel’Pure Foods `B’ Splash Corporation Swift Foods, Inc. TKC Steel Corp. Trans-Asia Oil Universal Robina Victorias Milling Vitarich Corp. Vulcan Ind’l.

45.2 1.65 1.1 2.02 12.38 50 19.66 243 34.4 59.7 1.8 11.88 18.700 11.42 8.25 9.80 2.36 30 98.8 15.20 0.4700 14.32 6.3 0.610 217.40 9.3 33.50 2.41 26.85 25.7 7.850 263.00 4.30 4.12 9.69 11.50 4.14 2.56 3.1 4.94 6.16 203.2 1.66 0.170 1.30 2.24 227.4 4.54 0.72 1.47

0.7 59.2 31.85 2.16 7.39 2.27 3.4 3.35 800 11.06 84 5.14 0.66 1380 6.68 72.6 8.9 9.25 0.9 18.9 0.73 5.53 6.55 0.0670 0.84 87 934 2.2 390 156 0.710 0.435 0.510

0.45 48.1 20.85 1.6 6.62 1.210 1.4 1.6 600 7.390 14.18 4.25 0.144 818 5.3 46.6 4.96 4.43 0.59 12 0.580 4.22 4.5 0.036 0.450 66.7 709.5 1.13 170 85.2 0.200 0.173 0.310

Abacus Cons. À’ Aboitiz Equity Alliance Global Inc. Anglo Holdings A Anscor À’ Asia Amalgamated A ATN Holdings A ATN Holdings B Ayala Corp À’ Cosco Capital DMCI Holdings Filinvest Dev. Corp. Forum Pacific GT Capital House of Inv. JG Summit Holdings Jolliville Holdings Lopez Holdings Corp. Lodestar Invt. Holdg.Corp. LT Group Mabuhay Holdings À’ Metro Pacific Inv. Corp. Minerales Industrias Corp. Pacifica À’ Prime Orion San Miguel Corp À’ SM Investments Inc. Solid Group Inc. Transgrid Top Frontier Unioil Res. & Hldgs Wellex Industries Zeus Holdings

0.470 57.80 26.90 1.39 7.04 1.80 0.28 0.3 800 8.66 15.40 4.55 0.325 1344 6.20 74.70 4.71 8.77 0.82 16.78 0.67 4.65 5.01 0.0400 0.780 67.20 938.00 1.20 263.20 101.00 0.4050 0.2450 0.330

10.5 26.95 1.99 2.07 0.375 40 6.15 5.4 7.1 1.54 1.48 0.201 0.98

6.01 12 0.91 1.29 0.192 29.1 4.1 4.96 4.6 0.89 0.97 0.083 0.445

8990 HLDG 8.640 Anchor Land Holdings Inc. 10.70 A. Brown Co., Inc. 0.91 Araneta Prop À’ 1.310 Arthaland Corp. 0.240 Ayala Land `B’ 40.00 Belle Corp. À’ 4.22 Cebu Holdings 5.2 Cebu Prop. `B’ 6.48 Century Property 0.95 Cityland Dev. À’ 1.01 Crown Equities Inc. 0.149 Cyber Bay Corp. 0.475

Trading Summary FINANCIAL INDUSTRIAL HOLDING FIRMS PROPERTY SERVICES MINING & OIL GRAND TOTAL

SHARES 21,736,938 91,557,160 109,590,940 185,190,510 190,492,834 1,398,487,182 2,000,183,723

INDUSTRIAL 45.5 1.65 1.1 2.05 12.42 56.95 20 244 34.5 59.9 1.85 12.68 19.320 11.60 8.37 9.98 2.33 30.3 100 15.20 0.4700 14.30 6.38 0.610 217.40 9.3 33.55 3.61 27.05 26.3 7.850 265.00 4.28 4.16 9.83 11.68 4.17 2.57 3.28 4.94 6.5 204 1.7 0.171 1.38 2.25 224.6 4.54 0.71 1.55

44.2 1.65 1.04 1.96 12 48.4 19.48 146 33.9 59.3 1.79 12 18.64 11.46 8.20 9.80 2.11 29.4 98.5 15.20 0.4700 14.22 6.25 0.600 215.60 9.26 33.50 2.54 26.5 25.8 7.800 262.00 3.88 4.11 9.70 11.48 4.03 2.54 3.09 4.83 6.5 202 1.66 0.169 1.35 2.21 220.2 4.5 0.69 1.45

HOLDING FIRMS 0.470 58.85 27.95 1.39 7.05 1.90 0.32 0.38 803 8.8 15.84 4.55 0.335 1360 6.20 75.50 6 8.78 0.82 16.78 0.66 4.77 5.15 0.0410 0.800 68.00 974.00 1.20 263.40 102.00 0.4100 0.2450 0.330

0.455 57.10 26.90 1.32 7.04 1.74 0.28 0.29 790 8.66 15.60 4.50 0.320 1328 6.15 74.05 5.4 8.72 0.77 16.6 0.65 4.7 5.15 0.0410 0.780 67.20 931.00 1.20 263.20 101.10 0.4000 0.2340 0.315

PROPERTY 8.780 11.20 0.91 1.310 0.245 41.05 4.31 5.24 6.49 0.95 1.01 0.157 0.475

8.630 10.10 0.89 1.310 0.245 40.00 4.23 5 6.48 0.93 1.01 0.149 0.470

202,932,310.00

318,420.00

1,108,750.50

SERVICES

10.5 66 1.44 1.09 12.46 15.82 0.1460 4.61 99.1 12.3 2.6 9 1700 2090 8.41 1.97 119.5 7 5.8 12.5 0.017 0.8200 2.2800 5.93 12.28 2.85 2.2 3.2 5.9 1.97 15.2 0.62 1.040 22.8 6.41 110.2 14 3486 0.710 2.28 48.5 90.1 11.6 0.87 2.95 10.2 0.490 1.6

1.97 32.5 1 0.6 10 9.61 0.0770 2.95 46.55 10.14 1.6 5.88 830 1600 5.95 1.36 105 3.01 4 8.72 0.012 0.036 1.200 2.34 6.5 1.69 1.1 2 1.05 0.490 8.7 0.34 0.37 14.54 3 79 4.39 2726 0.380 0.32 31.45 60.55 7.59 0.63 1.71 6.45 0.305 1.04

2GO Group’ ABS-CBN Acesite Hotel APC Group, Inc. Asian Terminals Inc. Bloomberry Boulevard Holdings Calata Corp. Cebu Air Inc. (5J) Centro Esc. Univ. Discovery World DFNN Inc. FEUI Globe Telecom GMA Network Inc. Harbor Star I.C.T.S.I. Imperial Res. `A’ Imperial Res. `B’ IPeople Inc. `A’ IP E-Game Ventures Inc. Island Info ISM Communications Jackstones Leisure & Resorts Liberty Telecom Lorenzo Shipping Macroasia Corp. Manila Broadcasting Manila Bulletin Melco Crown MG Holdings NOW Corp. Pacific Online Sys. Corp. PAL Holdings Inc. Phil. Seven Corp. Philweb.Com Inc. PLDT Common PremiereHorizon Premium Leisure Puregold Robinsons RTL SSI Group STI Holdings Transpacific Broadcast Travellers Waterfront Phils. Yehey

6.89 61.3 1.04 0.690 14 11.42 0.1170 3.76 86 10.06 1.84 6.98 985 2200 6.53 1.54 109.5 6.51 16 11.98 0.015 0.240 1.2700 2.68 8.60 2.05 1.45 2.09 3.35 0.690 10.22 0.365 0.470 18.38 4.60 111.00 13.86 2940.00 0.600 1.680 40.80 84.70 10.14 0.68 2.03 6.65 0.355 1.390

0.0098 5.45 17.24 25 0.330 12.7 12.8 1.2 1.73 10.98 4.2 0.48 0.455 0.475 0.023 0.026 8.2 49.2 4.27 1.030 3.06 0.020 0.021 7.67 12.88 10.42 0.040 420 9 0.016

0.0043 1.72 8.65 9.43 0.236 6.5 6.98 0.61 0.78 5.99 1.08 0.330 0.2130 0.2160 0.014 0.014 3.660 20.2 2.11 0.365 1.54 0.012 0.013 5.4 7.26 2.27 0.015 115.9 3.67 0.0100

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

0.0058 2.78 8.69 10.80 0.265 7.0000 6.9800 1.11 0.93 8.05 2.2 0.375 0.236 0.242 0.0140 0.0150 4.91 23.9 4 0.7300 2.180 0.0130 0.0140 5.53 7.2 2.42 0.016 166.80 4.15 0.0120

70 553 120 515 8.21 12.28 111 1060

33 490 101.5 480 5.88 6.5 101 997

1047 76.9 84.8 1.34

1011 74.2 75 1

ABS-CBN Holdings Corp. Ayala Corp. Pref `B1’ First Gen G GLOBE PREF P GMA Holdings Inc. Leisure and Resort MWIDE PREF PCOR-Preferred A PCOR-Preferred B PF Pref 2 SMC Preferred A SMC Preferred C Swift Pref

61.85 515 115.3 507.5 6.39 1.07 109 1080 1100 1046 75.95 84.55 2.7

6.98 2.2

0.8900 LR Warrant 4.000 0.74 Megaworld Corp. Warrants2 4.45

4.290 4.98

1,410,970.00

10.96 15 88 12.88

2.4 3.5 13.5 5.95

8.8 5.44 72.9 10

-23,870.00 47,000.00

130.7

6,301,765.00 82,451,759.00 694.00

-61,584,720.00 6,600.00

-12,017,860.00 -135,296.00 0.00 -3,944,286.00 -14,000.00 136,875.00 -11,314,783.00

1,257,670.00 -94,861,006.00 53,650.00 -30,900,930.00 -2,343,187.00 -105,592,410.00 -24,690,676.00 -49,964.00 108,000.00 -118,816,368.00 -3,543,238.00

-178,370.00 -8,612,015.00 84,425,520.00 3,288,504.00 -193,440.00 2,993,274.00 32,560.00

-2,902,970.00

-1,578,284.00 16,600.00

-335,213,930.00 4,500.00

21,314,071.50 -32,682,375.00

3,700.00

83,253,845.00 -11,668,486.00 4,897,148.00

-88,717,135.00 -7,505.00 -7,096,379.00

-16,333,777.00

1,737,146.00

47,116,040.00

-2,962,317.50 12,088,315.00

36,450.00

6,171,638.00 -9,000.00 154,471,040.00 -793,020.00 -62,813.00

6.9 61.95 1.08 0.800 14.06 11.92 0.1210 3.75 87.9 10.06 1.68 7.00 990 2238 6.68 1.56 111.5 7.26 24 11.98 0.015 0.241 1.2700 2.93 9.04 2.08 1.4 2.10 5.00 0.700 10.5 0.360 0.480 18.42 4.58 111.50 14.08 2984.00 0.600 1.720 41.50 84.50 10.32 0.68 2 6.79 0.350 1.380

MINING & OIL 0.0059 2.80 8.69 11.00 0.255 6.9500 6.9800 1.13 0.93 8.30 2.2 0.385 0.245 0.250 0.0140 0.0150 4.91 23.4 4.07 0.7400 2.190 0.0130 0.0140 5.85 7.38 2.43 0.016 168.60 4.2 0.0110 63 515 115.5 508 6.4 1.07 109 1080 1105 1046 76 84.85 4.05

62 510.5 115.5 508 6.23 1.07 108.8 1080 1100 1044 75.9 84.75 3.02

WARRANTS & BONDS

Double Dragon Makati Fin. Corp. IRipple E-Business Intl Xurpas

8.5 3.63 73 9.87

4.070 4.02

SME

8.5 4.48 68.05 9.87

EXCHANGE TRADED FUNDS

105.6 First Metro ETF

130.9

132.1

130.9

132

-700,000.00 146,262,596.00 -179,000.00 -59,014,532.50

-340,250.00 -31,089,960.00

-1,540.00 -5,687,780.00

24,800.00 -52,800.00 -4,000.00

-10,641,514.00

2,100.00 1,076,904.00 66,473,030.00 66,473,030.00 4,404,835.00 18,138,716.50 -2,998,168.00 10,200.00 179,044.00

124,655.00 -132,600.00

1,953,459.00

T op L oSerS

STOCKS

FINANCIAL 1,888.80 (UP) 31.51 INDUSTRIAL 12,635.82 (DOWN) 81.12 HOLDING FIRMS 7,265.34 (UP) 78.38 PROPERTY 3,307.41 (UP) 30.52 SERVICES 2,189.34 (UP) 21.92 MINING & OIL 15,276.12 (DOWN) 221.75 PSEI 8,127.48 (UP) 74.79 All Shares Index 4,635.38 (UP) 25.28 Gainers: 98; Losers: 88; Unchanged: 51; Total: 237

0.0056 2.72 8.58 11.00 0.255 6.9000 6.9800 1.11 0.91 7.92 2.07 0.370 0.236 0.240 0.0140 0.0140 4.66 23 3.72 0.7300 2.070 0.0120 0.0130 5.55 6.9 2.03 0.015 165.80 4.08 0.0110

PREFERRED

T op g ainerS VALUE 2,031,755,013.694 2,512,897,471.45 3,241,329,728.795 1,723,620,610.19 2,965,360,774.05 337,426,908.86 12,873,039,348.901

6.7 61.35 1.02 0.690 14 11.50 0.1170 3.7 86.1 10.06 1.68 6.80 985 2180 6.50 1.54 109.5 7.00 23.5 11.06 0.015 0.234 1.2400 2.7 8.88 2.00 1.33 2.10 3.10 0.690 10.26 0.355 0.480 18.3 4.53 105.00 13.86 2938.00 0.600 1.650 40.60 83.80 10.14 0.67 1.88 6.67 0.350 1.320

-67,261,192.00

Close (P)

Change (%)

STOCKS

Close (P)

Change (%)

Imperial Res. `B'

50.00

Chemphil

200

-17.70

Swift Pref

4.05

50.00

PhilexPetroleum

2.06

-14.88

Makati Fin. Corp.

5.44

49.86

Euro-Med Lab

2.11

-10.59

Mabuhay Vinyl

3.61

49.79

Panasonic Mfg Phil. Corp.

3.88

-9.77

Jolliville Holdings

27.39

Discovery World

1.68

-8.70

Megaworld Corp. Warrants2

4.98

11.91

United Paragon

0.0110

-8.33

Imperial Res. `A'

7.25

11.37

Manila Broadcasting

3.10

-7.46

Filipino Fund Inc.

9.80

7.69

Nihao Mineral Resources

3.72

-7.00

Citystate Savings

10.16

6.95

Lorenzo Shipping

1.35

-6.90

Jackstones

2.86

6.72

Manila Mining `B'

0.0140

-6.67

SATURDAY: APRIL 11, 2015

BUSINESS business@thestandard.com.ph extrastory2000@gmail.com

PNB loan. Philippine National Bank and Misamis Oriental 1 Rural Electric Service Cooperative Inc. signed a P1.2-billion 10-year term loan facility which will be used to finance the

construction of transmission lines, rehabilitation and upgrading of existing distribution lines and system loss reduction projects in Misamis Oriental province. At the signing ceremony are (from left) Moresco 1 president Melvin Eballe, Moresco 1 general manager Julie Real and PNB government banking group head and senior vice president Allan Ang.

Ayala to keep investing in PH FDIs fell 71% in January By Julito G. Rada NET inflows of foreign direct investments fell 71 percent in January from a year ago, data from the Bangko Sentral ng Pilipinas show. The country attracted a net inflow of $263 million in January, down from $905-million net inflow recorded in the same month last year. “All components recorded net inflows, particularly nonresidents’ investments in debt instruments that were issued by local affiliates at $167 million, which accounted for the bulk of FDI during the period,” Bangko Sentral said. Equity capital registered a net inflow of $25 million, as equity capital placements amounting to $53 million offset withdrawals of $27 million. Most equity capital placements came from the United States, Germany, Singapore, the Netherlands and Japan. These were invested in wholesale and retail trade, manufacturing, real estate, financial and insurance and professional, scientific and technical activities. Meanwhile, reinvestment of earnings was recorded at $70 million. FDI inflows posted a record $6.2 billion in 2014, well above the target of $4.4 billion. The 2014 figure was also 65.9 percent higher than $3.737-billion net inflow registered in 2013. FDIs cover actual investment inflows, which could be in the form of equity capital, reinvestment of earnings and borrowings between affiliates and parent companies.

By Jenniffer B. Austria

AYALA Corp., one of the country’s largest and oldest conglomerates, said it remains overweight in the Philippines in terms of investments while exploring opportunities in other Southeast Asian countries. Ayala Corp. chairman and chief executive Jaime Augusto Zobel de Ayala said during the annual stockholders’ meeting the conglomerate was not rushing to invest outside the Philippines, because of the significant growth opportunities in the country especially in the power and infrastructure sectors. “We have been in no rush in expanding the portfolio overseas only because we have been overweight in the Philippines and

the results speak for themselves. It has been a great run for us over the past five years,” Zobel de Ayala said. “But the management team understands that what is happening in Asean is of great interest and we do remain on the look out for opportunities,” he said. The conglomerate allocated P185 billion in capital expenditures this year, primarily to finance the expansion of real

estate and telecommunications businesses as well as energy and infrastructure projects. “Ayala, now more than ever, is in a steeper growth trajectory. As this unprecedented growth in the economy continuous to present attractive opportunities, we continue to challenge ourselves to innovate ourselves as we seek to address new opportunities,” said Zobel de Ayala. The conglomerate’s capital spending reached nearly P500 billion over the past five years. The company’s net income is poised to hit P20 billion this year, a year ahead of the target. Water unit Manila Water Co. Inc. has ventured in Vietnam while its property unit Ayala Land recently acquired a 9.16-percent interest in Malaysian property firm. Meanwhile, the conglomerate

is open to more joint venture partnerships as the projects being bid out by the government become larger. “As we get into much larger big-ticket items, it makes sense for companies to come together. Increasingly we have seen ourselves working with a consortium,” Zobel de Ayala said. Ayala Corp.’s property unit Ayala Land Inc. earlier teamed up with other property firms, SM Prime Holdings Inc., Megaworld Corp. and Aboitiz Equity Inc. in bidding for the P123-billion Laguna Lakeshore Expressway Dike project. It also won the P65-billion redevelopment and extension of the LRT 1 project and the automated rail ticketing system in partnership with Metro Pacific Investments Corp.

Market rebounds to set a new record above 8,100 STOCKS rebounded Friday to set a new record, after a positive lead from Wall Street and Asian markets provided strong support for the local equities’ rise. Emerging-market stocks headed for the longest winning streak in almost five years, as shares in Shanghai extended their world-beating gain to a 2008 high. The Philippine Stock Exchange index, the 30-company benchmark, jumped 74 points, or 0.9 percent, to close at 8,127.48 Friday. It fell 0.6 percent Thursday, ending an eight-day rally. The index is now up 12.4 percent since the start of the year. The heavier index, representing all shares, advanced 25 points, or 0.6 percent, to settle at 4,635.38 on a value turnover of P12.9 billion. Gainers outnumbered losers, 98 to 88, while 51 issues were unchanged. SM Investments Corp., the investment company of tycoon Henry Sy, was the most active stock. It climbed 3.4 percent to P970. Bank of the Philippine Islands, the second largest lender, added 3.4 percent to close at P106. Bloomberry Resorts Corp., operator of Solaire Resorts and Casino, gained 3.3 percent to P11.80 while property developer Megaworld Corp. picked up 2.1 percent to P5.88. Meanwhile, Hong Kong stocks continued their surge Friday, rallying for a third straight session as mainland investors flooded into the market, while Tokyo dipped after breaching the 20,000-point mark for the first time in 15 years. Tokyo’s Nikkei dipped 0.15 percent after earlier breaking 20,000 -- a level not seen since April 2000. The index finished 30.09 points down at 19,907.63. With AFP

FAO chief.

Agriculture Undersecretary Segfredo Serrano (right) shakes hands with UN Food and Agriculture Organization director general Graziano da Silva at the 151st session of the FAO Council held in Rome from March 23 to 27, 2015. Serrano, who led the Philippine delegation, expressed support for the re-election of da Silva for a second term and appreciation for FAO’s continued assistance to the Philippines.

SATURDAY: APRIL 11, 2015

BUSINESS business@thestandard.com.ph extrastory2000@gmail.com

In BrIef BIR appeals court ruling

THE Bureau of Internal Revenue said Friday it will appeal the temporary restraining order issued by the Makati City Regional trial court on a revenue regulation prescribing an accounting method in computing taxable income. Revenue regulation no.4-2011 prescribed the rules on the allocation of costs and expenses for banks and other financial institutions. Bureau of Inernal Revenues Commissioner Kim Henares said the TRO released by the Makati RTC was not final. “This is just a preliminary measure. We will, of course, question it all the way to the highest possible court if need be,” Henares said in a text message to The Standard. Henares said the regulation stemmed from a preliminary assessmnet of an audit among banks. Jennifer Ambanta

WB, GrabTaxi team up

GRABTAXI, Southeast Asia’s largest taxi-booking mobile phone app, has teamed up with World Bank to address traffic congestion and improve transport safety in region, including the Philippines. The World Bank-GrabTaxi partnership provides an award-winning, opensource data platform, OpenTraffic, at no cost to local governments in the Philippines, Indonesia and Vietnam to improve traffic congestion and road safety. It is being piloted with local governments in following cities in which GrabTaxi operates--Cebu, Manila, Davao City, Jakarta, Ho Chi Minh City and Hanoi. Through the partnership, GrabTaxi aims to empower local transportation agencies to monitor real-time traffic conditions and collect historic travel time data. Darwin G. Amojelar

Bac-Man 3 unit resumes

BAC-MAN Geothermal Inc., the wholly-owned subsidiary of Energy Development Corp. that owns and operates the Bacman Power Plants, is now operating Unit 3 at 20 megawatts, following the completion of repair works. EDC said in a disclosure to the Philippine Stock Exchange the Bacman Unit 3 resumed operations April 8 after it tripped early March due to a minor lube oil leak. EDC said Bacman Geothermal would take the opportunity to initiate planned facility upgrades during the plant shutdown. EDC also assured that the unit was expected to be back in service in time for the peak energy demand in the summer months. BacMan Geothermal earlier completed the installation of the brand new Toshiba steam turbine for unit 2 with a capacity of 55 MW. Alena Mae S. Flores

PTT replanting. PTT Philippines recently returned to Noveleta, Cavite to plant another 50,000 mangrove propagules as part of its corporate social responsibility project called ‘BakaJuan: Back to the Mangroves. Shown at the planting ceremony are PTT Philippines president and chief executive Sukanya Seriyothin (sixth from right), Thai Ambassador to the Philippines Thanatip Upatising (eighth from left), Assistant Secretary Rolando Cucio (seventh from left) of the Office of the President; Brig. Gen. Galileo Gerard Kintanar Jr.(fifth from right), 15th Strike Wing Commander of the Philippine Air Force, and other PTT Philippines executives.

Nickel Asia acquires Geogen, Nihao stake By Anna Leah E. Gonzales

NICKEL Asia Corp., the biggest nickel producer in the Philippines, will acquire all the shares of Geogen Corp. for P720 million and at least 10 percent of Nihao Mineral Resources International Inc.

Nickel Asia said in a disclosure to the stock exchange it would buy the Nihao shares at P4 apiece. “Final execution is subject to due diligence to be conducted by NAC and the subsequent approval of its board of directors,” Nickel Asia said. Geogen owns the claim of the Isabela nickel project which have an agrregate area of 2,391 hectares in Dinapigue, Isabela province. Nickel Asia said the resource base of the Isabela nickel project stood at about 89.89 million dry metric tons at 1.2 percent nickel as of April 2013,based on a mineral resources estimate report prepared by SRK Consulting Nihao, meanwhile, is the operator and general contractor of

the Isabela project. “Nihao’s operating rights over the Isabela Nickel Project will be converted into a 20 percent in the net profits of the project,” Nickel Asia said. It said Nihao would also grant Nickel Asia the sole and exclusive preference and priority to explore, operate and develop the mining claims of Nihao and its subsidiaries. These include those of Mina Tierra Gracia Mina Tierra Gracia Inc. consisting of a combined

5,082 hectares in Botolan and Iba, Zambale; Bountiful Geomines Inc., 1,944 hectares in Opol and Manticao, Misamis Oriental; and Masbate 13 Philippines Inc., 4,137 hectares in Milagros and Mandaon, Masbate. Nickel Asia operates four nickel mines in the country. It also has minority interests in the Taganito and Coral Bay HPAL plants. “While the nickel market is presently at a crossroads, there is no question that future prospects

are bright given that global demand for nickel and other minerals will continue to grow,” said Nickel Asia senior vice president for marketing and strategic planning Martin Antonio Zamora. “These investments will give NAC flexibility to adapt to the challenges and opportunities that lie ahead. In addition, our newly formed alliance with Nihao will no doubt result in synergies and open doors to more opportunities,” Zamora added.

Investments rise 17% to P54.6b in Q1 By Othel V. Campos INVESTMENT pledges approved by the Board of Investments in the first quarter of 2015 rose 17 percent to P54.62 billion from P46.77 billion year-onyear, driven by a sharp increase in the manufacturing sector, the agency said Friday. The BoI approved 59 projects, which are expected to generate 18,174 jobs, up 65 percent from last year’s estimate of 11,636 jobs from 54 projects. Big-ticket projects listed under the electricity, gas, steam and air conditioning supply sector such as power generating plants and renewable energy registered

the highest investment of P13.76 billion, up 30 percent from P10.5 billion on year. The manufacturing sector posted the biggest growth of 517 percent to P12.90 billion from P2.08 billion in 2014. Trade Undersecretary Adrian Cristobal Jr. said the surge in manufacturing projects reflected the results of the initiatives of the Manufacturing Resurgence Program, a government priority aimed at pushing for a 30 percent increase in gross value added and 15 percent improvement in employment by 2025. The objectives of the manufacturing industry roadmap are being achieved with the help of

the policies and strategies created under the roadmap itself. The industry roadmaps, established by Trade Department through the BoI, opens the door for the private sector to collaborate with the government, the academe and civil society in charting the direction, objectives and strategies that will make their respective industries become more competitive and eventually realize sustainable growth. Other sectors with substantial contributions include the Transportation and Storage sector with P10.5 billion and real estate activities sector with P9.1 billion.

S at u r d ay : a p r i l 1 1 , 2 0 1 5

ceSar barrioquinto EDITOR

editorial@thestandard.com.ph

world

Malaysia amends sedition law KUALA LUMPUR—Malaysia’s parliament early Friday approved tougher penalties for sedition in a move criticized by the United Nations and described by the opposition as “a black day” for democracy and free expression.

Samsung, Apple clash with new products SEOUL—Samsung rolled out a new smartphone on Friday in a bid to regain market dominance as arch-rival Apple, eying the next generation of wearable technology, opened pre-sales for its first watch. Samsung’s Galaxy S6 and its curved-edge variant, the Galaxy S6 Edge, went on sale in South Korea, home of the electronics giant, as well as Europe, the United States and markets in the AsiaPacific such as Australia, Singapore and India. Samsung, laboring under successive quarters of plunging profits and booming sales of Apple’s iPhone 6, is hoping the new phone will reverse its fortunes. The range of S6 models has won strong reviews from tech pundits, with the Wall Street Journal calling them “the most beautiful phones Samsung has ever made”. “Given the response from the market and clients... we expect the S6 to set a sales record for all Galaxy models,” Lee Sang-Chul, the vice head of Samsung’s mobile unit, told reporters. Joo Seung-Bin was one of the first in line to buy an S6 in Seoul on Friday morning. “It’s a great design, and it’s just got a great feel,” the 23-year-old said. “It’s not cheap, but then I’m not one of those people who upgrades their phone every year. There’s been a lot of buzz about this model, so I thought I’d check it out,” Joo said. The S6 retails at around 858,000 won ($800) in South Korea, while the S6 Edge comes in at 979,000 won, broadly in line with their Apple counterparts. AFP

Onstage. Recording artist Andrew Hozier-Byrne of Hozier performs at The Chelsea at The Cosmopolitan of Las Vegas on April 9 in Las Vegas, Nevada. AFP

For the second time this week, the ruling coalition pushed through legislation that has been denounced by rights and legal advocates, after it on Tuesday passed an anti-terrorism law that allows authorities to detain people without charge. The amendments to the Sedition Act extend the maximum jail term to 20 years from the current three years and establish a minimum three-year jail term for certain cases. The revised act also makes it illegal to propagate sedition on the Internet, sparking concerns over possible Web censorship. Courting votes ahead of 2013 elections, Prime Minister Najib Razak had promised to scrap the British colonialera Sedition Act, long viewed as a tool to gag free speech. But after a poor showing in those polls, Najib’s government has targeted scores of its critics with the law. Last year Najib went back on his pledge, announcing the act would be retained and “strengthened”. “In order to realize our goal of building a stable, peaceful and harmonious state, the Sedition Act has been maintained,” he said late Thursday in an interview on state-controlled television. The amendments were approved in the early hours of Friday after a marathon effort by the opposition to stop them. However, after an outcry this week, the government removed a clause allowing authorities to deny a suspect bail. The revisions no longer make it illegal to insult the government, but they ban speech that incites religious hatred in the Muslim-dominated but multifaith country. “We will not and cannot stand for the incitement of racial or inter-ethnic conflict,” Najib said. AFP

Seoul, Tokyo to hold high-level talks

Protest in Taipei. Protesters wear bamboo hats during a rally outside

Parliament in Taipei on April 10. Hundreds of pro-Taiwan independence activists rallied to mark the first anniversary of the student-led “Sunflower Movement,” which saw the occupation of parliament for more than three weeks in protest at a trade pact with China. AFP

SEOUL—South Korea and Japan will next week hold their first high-level security talks in more than five years, Seoul said Friday, despite simmering tensions over territorial and other historical disputes. The so-called “2+2” talks will take place in Seoul next Tuesday between senior foreign ministry and defense ministry officials from both sides. The resumption of the dialogue—last held in 2009—hints at a slow thaw in practical diplomatic contacts despite a glacial rift in the overall relationship. “At the talks, the first in more than five years, they will discuss defense

and security policies and cooperation, regional security situations and other matters of mutual concern,” the South Korean foreign ministry said in a statement. Meanwhile, Japanese media reported the two governments were working to arrange a defense ministers’ meeting. Responding to questions in Tokyo, Defense Minister Gen Nakatani noted there had been no such meeting for nearly four years. “It would be meaningful to hold talks at an early time and exchange frank views,” he said. Friday’s announcement came at

the end of a week of acrimonious exchanges over a set of new social studies textbooks in Japanese junior high schools. Seoul called in the Japanese ambassador to protest after Tokyo’s education ministry said all the textbooks would assert Japanese ownership of two separate island groups at the center of disputes with China and South Korea. The row between Seoul and Tokyo over a tiny set of South Koreancontrolled islets has rumbled on for decades, in tandem with highlyemotive disputes related to Japan’s 1910-45 colonial rule over the Korean peninsula. AFP

s at u r d ay : a p r i l 1 1 , 2 0 1 5

cesar barrioquinto EDITOR

WORLD

editorial@thestandard.com.ph

150 dolphins beach in Japan HOKOTA, Japan— Around 150 melonheaded whales, a member of the dolphin family usually found in the deep ocean, beached in Japan on Friday, sparking frantic efforts by locals and coastguards to save them. Rescuers were battling to stop the creatures’ skin from drying out as they lay on a beach about 100 kilometers northeast of Tokyo, while some were being carried in slings back towards the ocean. Television footage showed several animals from the large pod had been badly cut, and many had deep gashes on their skin. An AFP journalist at the scene said that, despite efforts to get the dolphins into the water, some were being pushed back onto the beach by the tide soon after being released. A number of the creatures had died, he said, and were being buried. “We see one or two whales washing ashore a year, but this may be the first time we have found over 100 of them on a beach,” a coastguard official told AFP. A Hokota city official said they had counted 149 dolphins, revising an earlier figure of 130. Some had died, he said, but by late afternoon, three had been successfully returned to the sea. The pod was stretched out along a roughly 10 kilometer-long stretch of beach in Hokota, Ibaraki, where they were found by locals early Friday morning. Several animals were writhing in a futile effort to move themselves on the sand, although as the day wore on they were clearly becoming weaker. AFP

Out in the heat. Sudanese people walk inside the Zam Zam camp for Internally Displaced People in North Darfur on April 9. Sudan heads to the

polls next week in elections widely expected to extend President Omar al-Bashir’s quarter-century rule, despite his indictment for alleged war crimes, continued unrest and a faltering economy. AFP

US vows to deploy top weapons to Asia SEOUL—Defense Secretary Ashton Carter promised Friday that the US would deploy state-of-the-art weaponry in Asia, including the latest stealth bombers and cyber warfare units, to counter threats posed by the likes of North Korea. “Our newest and best things are being deployed to this part of the world,” Carter said in Seoul—the second leg of a visit to the two key US military allies in the region, Japan and South Korea. The Pentagon chief said his talks with South Korean Defense Minister Han Min-Koo had included a “candid assessment” of the threat posed

to the Korean peninsula—”and the US homeland”—by North Korea’s nuclear weapons and ballistic missile program. “As it demonstrated once again with the recent missile launches, North Korea is intent on continued provocation,” he told reporters. The North fired two surface-to-air missiles off its west coast on Tuesday,

just as Carter arrived in Japan on the first leg of his tour. Earlier, it had test fired a series of short range ballistic missiles to express its anger with annual South Korean-US military exercises which Pyongyang condemns as rehearsals for invasion. The United States has close to 30,000 troops permanently stationed in South Korea and would assume operational command of both armed forces in the event of a conflict with the North. The two Koreas remain technically at war because the 1950-53 Korean conflict ended with a ceasefire rather

than a peace treaty. Stressing that military deterrence and readiness were “at a premium” on the divided peninsula, Carter said the US was investing in “advanced capabilities .... tailored to this dynamic security environment.” Asked to expand, he cited new stealth bombers, F-35 stealth fighters and highly developed cyber warfare systems that could be rotationally deployed in the Asian theater. North Korea has an advanced cyber warfare capability which it has wielded in damaging hacking assaults on South Korean financial institutions. AFP

HK defends US dollar peg

Official visit. French foreign affairs minister and Indian prime minister Narendra Modi attend

a ceremony in the courtyard of the Hotel des Invalides in Paris, on April 10. Once persona non grata in Europe, India’s prime minister will be welcomed with open arms in Paris as he kicks off his maiden visit to the continent to woo investors to his fast-growing economy. AFP

HONG KONG—Hong Kong’s de facto central bank intervened in forex markets for the first time in eight months to protect its currency’s peg to the US dollar as a massive surge in the city’s stock market drives up demand for the local unit. The Hong Kong Monetary Authority said it sold HK$3.1 billion ($400 million) on Thursday at HK$7.75 a dollar in a bid to weaken the currency. The last time it was forced into such a move was in August. “Demand for the Hong Kong dollar increased alongside the rise in the

stock market recently,” HKMA said, according to Bloomberg. The monetary authority added that it would continue to closely monitor “market developments”. The city’s equities market surged more than six percent over Wednesday and Thursday as mainland investors use a new link-up program with Shanghai to pile into the market. Turnover on both days hit smashed previous record highs. Investors north of the border are seeking out relatively cheap stocks after a year-long rally in Shanghai

of about 90 percent that has been fueled by hopes for new economic stimulus measures. The Hong Kong dollar moves in a narrow band against the greenback and when the HK$7.75 mark is reached the HKMA steps in. The authority intervened 24 times to defend the 32-year-old peg in July and August last year, Hong Kong’s Standard newspaper said. During that time it injected a total of $9.7 billion into the financial system, according to data compiled by Bloomberg. AFP

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PROPERTY

JOEL D. L ACSAMANA EDITOR

jdlacsamana@gmail.com

‘HOOLIGANS’ GAME PLAYED BY GENTLEMEN’ STORMS MANILA

ugby players from all over the world recently blew into town for the Manila 10s International Rugby Festival at Nomad Sports Club in Paranaque City. Various teams competed in the Cup, Plate, Veterans, Bowl, and Shield Divisions, including local teams: CBRE Maverick Vipers, Manila Nomads, Nomads Carabaos, Alabang Eagles, Alabang Ibons, Alabang Falcons, Baretto Blues, deVere Cebu Dragons, Manila Hapons, Manila Samurais, PTS Clark Jets. Visiting teams that provided color (predominantly “black and blue”) included the Arabian Potbellies RFC, Austen Morris Barbarians, B2Gold Larrikins, Guangzhou Rams, HKFC Scorpions, Hong Kong Cricket Club, INSEAD Rugby Club, JML New Zealand Warriors, Pot Bellied Pigs RFC, Potoroos, Seoul Survivors, Taipei Baboons, and Tokyo Gaijins. The event was sponsored by Etihad Airways and CBRE Philippines, among others, in association with the Manila Nomads, Philippine Rugby Football Union and ANZCHAM Philippines.

MEGAWORLD-INDESIT HOOK UP EYE ENERGY SAVINGS. Real estate developer Megaworld recently partnered with European home lifestyle company, Indesit, to set up energy-saving, built-in kitchen appliances in every unit of Three Central, a 50-storey residential tower in Salcedo Village, Makati. Indesit is one of the largest appliance brands in Italy, with yearly sales of 13 million appliances worldwide. Shown in photo are (from left to right): Eugene Em Lozano, vicepresident for sales and marketing, Megaworld; and Dino Catena, Asia Pacific managing director, Indesit.

PIECE OF TUSCANY. Megaworld recently unveiled The Florence, a garden community at the heart of the 50-hectare McKinley Hill, one of Megaworld’s largest township in Metro Manila. Evoking scenes of the Tuscan region in Italy, it is a tranquil spot amidst bustling Bonifacio Global City (BGC). The township is a place where everything is inspired by the lights, sounds, and tastes of Italy. It is home to the McKinley Hill Stadium, the country’s first world-class, competitionready football field, and the famous Venice Piazza inspired by Venice’s Piazza di San Marco.

The formation of APREA’s Philippine Chapter comes at the most opportune time in the real estate industry, said Antonio, as there is a positive outlook on the local property landscape.

APREA PHIL TO BEEF UP FOR COMPETITION IN 2015-04-08 BY JOEL D. LACSAMANA

he Philippine Chapter of the Asia Pacific Real Estate Association (APREA) is sharpening its competitive fire in 2015 in preparation for the ASEAN (Association of Southeast Asian Nations) integration. The body recently elected a new chairman, Jose E.B. Antonio. The first step in his board’s priorities for 2015 is to take advantage of the Philippines global popularity as one of the world’s healthiest emerging markets. Antonio’s objective: to promote Philippine real estate as an attractive asset to investors, and serve as the voice of the property sector in the upcoming Asia Pacific Economic Cooperation (APEC) Summit. “The positive focus on our country bodes well for the real estate industry, elevating its reputation as an investment favorite of

GUNNING FOR TOP PLUM IN ASEAN. New APREA Phil team behind the leadership of chairman Jose E. B. Antonio, CEO of Century Properties, are : Jeffrey Lim, president of SM Development Corporation, as vicechairman; Michael De Guzman, managing director of Macquarie Group of Companies, head of the membership committee; Rick Santos, chairman of CBRE Philippines, as head of the sustainability committee; Francisco Lim, partner at ACCRA Law, as regulatory committee head; and Arlene Magtibay, senior vice president at Robinsons Land, as programs and events committee head.

investors and publicly listed foreign firms,” said Antonio, chief executive officer of the Century Properties Group, Inc. “We should seize this opportunity as we prepare for fierce competition in the years ahead. Antonio said the body will share up-todate industry information and conduct research to determine the best cities for real estate businesses. It will tackle pressing real estate and co-industry issues, and work with the concerned government and allied agencies to enhance efficiencies and operating conditions in the property sector. To promote professional development and share industry best practice, the body will work in the succeeding years to hold the next regional APREA conference in the country, as well as promote itself to young industry players to seek possible joint venture initiatives.

EXCITING TIMES AHEAD Many economists predict that the Philippines will become the top performing economy in the ASEAN region this year, according to Colliers Philippines. Developments are moving out of Metro Manila and expanding in key provinces with new infrastructure and enhanced accessibility. Industrial parks, offices, retail and housing are strong because of renewed interest in manufacturing, the BPO boom, increase in employment and consumer spending power. Destination developments with leisure, entertainment and tourism components are emerging. “These exciting developments underscore the need for the Philippine real estate industry to use its strengths and raise the bar for innovation, quality, excellence and differentiation. This will enable us to compete head on with our ASEAN counterparts,” Antonio said. APREA members consist of real estate developers and operating companies, investment and fund managers, financial institutions and other institutional investors to name a few. The members of APREA’s Philippine Chapter include major real estate players, such as Ayala Land, Century Properties, Robinsons Land, SM Development Corp and Vista Land. Antonio succeeded Jaime Ysmael, senior vice president of Ayala Land, Inc.. With more than 40 years of business experience, He founded Century 29 years ago and successfully established it as a strong player in residential and commercial properties.

SCG SMARTBOARD Jose Ramon Carunungan, principal architect and environmental planner of Carunungan & Partners Co., talked at the recent 20th WorldBex Asia construction show, about the SCG Smartboard, a fiber-cement board. The product reputedly brings strength, durability and elasticity, and is available in many colors and patterns to create limitless designs. Using the theme “Experience the Inspiration of Living,” SCG, Mariwasa and COTTO displayed its products and innovations at WorldBex to inspire Filipinos to create homes that are reflective of their lifestyles.

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JOEL D. L ACSAMANA EDITOR jdlacsamana@gmail.com

PROPERTY

PIE IN THE SKY. “Small players do not need big market share, but a profitable niche in the market.” PHOTO BY TOOYKRUB / SHUTTERSTOCK.COM

STRONG EXPANSION FOR PH PROPERTY SECTOR SEEN A major uptick in the Philippines’ robust property sector is expected to happen locally and abroad with the impending integration of the Asean economies later this year, Pinnacle said in its latest Market Insight report. “The top developers are expecting that the pie will expand due to the sustained growth of the Philippines as well as the impending ASEAN economic integration in December,” said Pinnacle, a real estate consulting services firm. “They are enlarging their plates by partnering with international investors and en-

hancing their capabilities,” said the firm. It added that the top players in the sector are comfortable in slicing their markets, by focusing on their core competencies, by servicing various segments and sectors, and by building townships. “For the top real estate developers, the influx of ASEAN investors and tourists means they can enlarge the plate to accommodate the expanding pie,” it noted. For the not-so-big players, Pinnacle noted it is important to identify opportunities and inefficiencies in the market, then servicing them decisively.

5TH YEAR SHINDIG

Ayala Land’s subsidiary, Amaia Land, recently celebrated its fifth year in the real estate industry. Amaia has built homes for over 12,000 families across the country. The brand is present in North Luzon (Bulacan, Pampanga, Tarlac, Urdaneta); Metro Manila (Quezon City, Paranaque, Manila, Caloocan, Pasig, Mandaluyong, Las Pinas); South Luzon (Laguna, Cavite, Batangas, Quezon, Bicol) and the Visayas (Bacolod, Cebu, Iloilo). At the anniversary rites were (from left to right): Francis Mallari, Amaia Land human resource head; Bobby Dy, Ayala Land president; Ricky Celis, Amaia Land president; Nikie Lingad, Amaia Land project strategic management group head; and Petes Gamboa, innovation and design group head.

BANKS’ REAL ESTATE EXPOSURE ROSE IN ’14 The real estate exposures (REEs) of universal, commercial (U/KBs), thrift banks (TBs) and trust departments in the Philippines stood at P1.221 trillion at end-2014. The end-2014 figure was 5.4 percent higher than the P1.159 trillion in REEs recorded a quarter earlier. The rise is attributed to the banks’ real estate loans (RELs), which increased by 6.8 percent to P1.043 trillion quarter-on-quarter. RELs represented 85.4 percent of REEs during the period. Sixty percent of the RELs were extended to land developers, construction firms and other corporate entities. The remaining 40 percent, on the other hand, went to individual households for occupancy. The banks’ investments in real estate (RE) securities, meanwhile, decreased by 2.1 percent quarter-on-quarter

to P178 billion at the end of last year. Investments in RE securities comprised 14.6 percent of the banks’ REEs during the period. While REEs sustained an increase, the ratio of non-performing RELs of U/KBs and TBs followed a downtrend. At end-2014, the banks’ non-performing RELs represented 2.47 percent of total RELs from 2.80 percent at end-2013. This is the lowest posted for the quarterly indicator since December 2012. At the same time, the gross non-performing loan (NPL) ratio of U/ KBs dropped to 1.82 percent as of endDecember 2014 from 1.98 percent as of end-November 2014. This is the lowest NPL ratio posted by the U/KBs in the years after the 1997 crisis. The indicator reached a record low amid a month-onmonth decline in NPLs and an increase in

the banks’ total loan portfolio (TLP). The banks’ NPLs decreased to P93.06 billion at the end-2014 from P95.52 billion in November last year. The U/KBs’ TLP, on the other hand, rose to P5.118 trillion last December from P4.83 trillion a month earlier. Aside from keeping the NPL ratio low, the U/ KBs continue to allocate substantial reserves for potential credit losses. At end-December last year, the industry’s loan loss reserves represented 142.43 percent of its NPLs. The figure rose from the 140.91 percent recorded a month earlier. The industry’s gross NPLs also remained manageable across economic sectors, as seen in financial intermediation; real estate, renting and business activities; manufacturing; wholesale and retail trade; and electricity, gas and water supply.