BusinessMirror February 13, 2015

€450 million, including approxi-mately €160 million for Alstom. “These milestone agreements

give us significant headway toward the construction and commission-ing of the much-awaited Cavite Ex-

tension, which will benefit an ad-ditional 300,000 passengers from four big cities in southern Manila,” LRMC President and CEO Jesus P. Francisco said in a news briefing in Makati City. Alstom will provide an integrated metro solution, which includes sig-naling and communication system, traction power supply and track work on the 12-kilometer extended line, including one new depot and the extension of the existing depot.

Alstom will also equip Atlas 100 onboard signaling solution for 60 trains and revamp signaling system for the existing 20-km line. Bouygues Travaux Publics, on the other hand, will provide the rail-way infrastructure for the Cavite Extension. It is known globally for complex projects involving tun-nels, engineering structures, and road, port and rail infrastructure, most recent of which were the

�ese milestone agreements give us significant headway

toward the construction and commissioning of the much-awaited Cavite Extension.”—Francisco

The WorldSaturday, February 13, 2016 | Editor: Lyn Resurreccion BusinessMirrorB2-2

Suspected Zika casesin Venezuela

5,000

3 Zika-related deaths announced in Venezuela

SIX-WEEKS pregnant Daniela Rodriguez, 19, waits for test results after being diagnosed with the Zika virus at the Erasmo Meoz Hospital in Cucuta, Colombia, on Thursday. Norte de Santander is the state with the highest cases of Zika virus in the country. AP/RICARDO MAZALAN

President Nicolas Maduro said on Thursday that at least three peo-ple have died in Venezuela due to complications related to the mos-quito-borne Zika virus. He added that 68 people have been hospital-ized with complications confirmed to be related to the virus.

Maduro did not say what the complications were or how the deaths had been confirmed to be Zika-related. Venezuela is report-ing more than 5,000 suspected

cases of Zika since November of last year. Local health orga-nizations say the real number

of Zika is likely much higher. In-vestigators are studying a possible link to Guillain-Barre syndrome, which can cause temporary paraly-sis and is sometimes fatal, and to birth defects. In Australia, preg-nant woman has tested positive for the Zika virus after traveling overseas—the second such case this week, health officials said on Friday.

The woman, from Victoria state, was diagnosed with Zika af-ter returning from a country where the mosquito-borne virus is prevalent, Victoria Health Min-ister Jill Hennessy said. She de-clined to release any other details about the case, including where the woman had traveled, citing patient privacy.

Earlier this week, a pregnant

woman in Queensland state was also diagnosed with Zika after traveling abroad. Experts say the risk of Zika spreading across Australia is extremely low.

The type of mosquito that car-ries the virus only lives in the far northeast corner of the country, which is sparsely populated. “My primary concern today is not about a public health risk, but a woman who is dealing with the anxiety of receiving news that is incredibly concerning,” Hennessy told reporters.

The Zika v irus has spread quickly through Latin America. Most people who contract it have either mild or no symptoms, but it is suspected of causing a birth defect that results in babies born with abnormally small heads. AP

CARACAS, Venezuela—Venezuela has announced the first Zika-related deaths in the South

American country.

A BILL headed for President Barrack Obama this week includes a provision that

would ban US imports of fish caught by slaves in Southeast Asia, gold mined by children in Africa and garments sewn by abused women in Bangladesh, closing a loophole in an 85-year-old tariff law that has failed to keep products of forced and child labor out of America.

An exposé by The Associated Press (AP) last year found Thai companies ship seafood to the US that was caught and processed by trapped and enslaved workers.

AP tracked fish and shrimp from people locked in cages and factories to supply chains of top retailers and restaurants, from supermarket chains like Wal-Mart and Whole Foods to restaurants, including Red Lobster. The companies all said they strongly condemn labor abuse and are taking steps to prevent it.

As a result of the reports, more than 2,000 trapped fishermen have been freed, more than a dozen alleged traffickers arrested and

millions of dollars worth of sea-food and vessels seized.

Thai Union, one of the world’s biggest seafood exporters, says it has hired 1,200 workers from out-sourced shrimp processing sheds into safer, more closely regulated in-house jobs with decent pay.

On Capitol Hill, the AP inves-tigation, along with other press reports and political advocacy, helped pressure lawmakers “to fi-nally strike this obscene provision of US law,” said Sen. Ron Wyden, an Oregon democrat.

“It’s an outrage this loophole persisted for so long. No product made by people held against their will, or by children, should ever be imported to the United States,” he said. The change is part of a wide-ranging bill which revamps trade laws and bars Internet taxes passed on a vote of 75-20 by the Senate on Thursday. Obama is expected to sign it.

The US Tariff Act of 1930 gave Customs and Border Protection the authority to seize shipments

where forced labor is suspected and block further imports. How-ever, it has been used only 39 times in 85 years in large part because of an exemption that said goods made by children, prisoners or slaves can be allowed into the US if consumer demand cannot be met without them.

Drafted during the Depres-sion, law makers at the t ime placed economic need over for-eign labor rights, according to legal historians. If signed by Obama, imports of a Labor De-partment list of more than 350 goods produced by child or forced labor—cotton from Kazakhstan, wheat from Pakistan, lobsters from Honduras—may now face federal law enforcement.

David Olave, a Washington, D.C.-based trade consultant, said he’s concerned about unfair and overreaching seizures by Customs and Border Protection investiga-tors who would be hard pressed to prove a product in a particular shipping container was picked or

processed by a forced laborer. And he said US firms have already been proactive in trying to keep labor abuse out of their supply chains, well ahead of government regula-tions. “From my perspective, this is more of an image issue,” he said, “It looks bad, to have a law that says we want to stop child labor, unless we really need it. It might have sounded ok in 1930 but it doesn’t sound good today.”

While Customs would be re-sponsible for stopping items at ports of entry, Homeland Security Investigations agents in 46 coun-tries would be responsible for the investigation of illicit trade.

David Abramowitz, who advo-cated for the change as vice presi-dent of Humanity United, said the federal government will need to dedicate the resources to make sure the law is now properly enforced.

“We in civil society will have to be vigilant so that these reforms really lead to ensuring that US mar-kets are not open to goods made with modern slavery,” he said. AP

US Congress bans import of forced-labor products

VATICAN CITY—History’s first Latin American pope travels to Mexico on Friday

for a weeklong tour of some of the most violent, poverty-stricken and peripheral places in the Americas. He’ll be bringing a message of hope and solidarity to victims of drug violence, trafficking and discrim-ination—a message the Vatican hopes will also resonate north of the border. Nearly four decades af ter Saint John Paul II began his globe-trotting papacy in Mex-ico, Francis, too, will begin his trip by praying before the Vir-gin of Guadalupe shrine. But after that, he will be entering into uncharted papal territory. Here are five things to know about Francis’s trip to the larg-est Spanish-speaking Catholic country in the world:

Orthodox pit stopFRANCIS is known for his sponta-neity, but even by Franciscan stan-dards, the bombshell dropped last week was big. For the first time ever, a pope and a patriarch of the Rus-sian Orthodox Church will meet on Friday in Cuba, in a stopover en route to Mexico. The Vatican sees the meeting as a historic step in the path toward healing the 1,000-year schism that split Christianity.

Popes as far back as Paul VI have met with the Istanbul-based Ecumenical Patriarch, “first among equals” in the 250 million-strong Orthodox Church. But the Russian Church—the biggest and most powerful in Orthodoxy—has al-ways kept its distance from Rome.

The common concern over the plight of Christians in Syria and Iraq has brought the two churches together, but that’s not the only reason Patriarch Kirill has finally agreed to a meeting. In June lead-ers of the 14 Orthodox churches meet in Greece for the first pan-Orthodox synod in centuries. Observers say Kirill ’s opening is more about grandstanding within Orthodox circles than any new ecumenical initiative.

‘Mexicanization’FRANCIS made the first major diplomatic faux pas of his papa-cy when, in a private e-mail to a friend last year, he warned that Argentina’s increasing drug prob-lem risked turning it into a traf-ficking haven like Mexico, where cartels have terrorized the popu-lation and infiltrated police and other public institutions.

The “Mexicanization” comment understandably irked Mexico, and the Vatican promptly apologized. But it underscored Francis’s tough line on drug trafficking and cor-ruption, which he has called a sin incompatible with Christianity.

Francis is expected to address

both blights during his February 12 to 18 visit, though he has said he’s not bringing policy solutions to fix Mexico’s ills. But relatives of some of the 43 students who disappeared in 2014 in suspicious circumstances have been invited to Francis’s final Mass in Ciudad Juarez, once considered the murder capital of the world.

“It’s the fundamental place of passage for this network of drug trafficking, where the links are inseparable between the narcotraf-fickers and Mexican law enforce-ment,” Guzman Carriquiry Lecour, a close papal adviser, told a recent seminar. “This is the Mexican pe-riphery and the pope wants to go.”

Church-state relationsFRANCIS has previously urged his bishops not to shy away from de-nouncing corruption and organized crime, and he may well do the same in Mexico. “Above all, we have to raise our voices to condemn the corruption and links that exist between certain power structures and the drug car-tels and narcotraffickers that allow them to move freely with impunity,” the Vatican secretary of state, Car-dinal Pietro Parolin, told the Italian weekly Famiglia Cristiana recently.

It was, perhaps, a diplomatic way of addressing a Mexican church that even Mexican prelates say shows too much deference to the country’s wealthy and powerful.

Francis, however, has signaled his priorities: Last year he made a cardinal out of the bishop of Mo-relia, Mexico, and will honor his ministry to victims of drug violence by visiting his diocese.

Cross-border prayerTHE highlight of the trip comes on the final day, when Francis trav-els to Ciudad Juarez and prays at Mexico’s northern border for all who have died trying to cross. A group of migrants in El Paso, Texas, will join him in prayer across the frontier, and then watch Francis’s subsequent Mass in Juarez in an El Paso stadium. Francis has de-manded that countries welcome migrants and refugees fleeing pov-erty and oppression, calling for bold new solutions and denouncing the “globalization of indifference” that the world shows migrants. His ap-peal comes amid a US presidential campaign where immigration is a hot-button issue, with Republi-can contenders Donald Trump and Ted Cruz vowing to expel Mexicans and build a better border wall.

Will Francis’s message get any airtime north of the border?

“I’m not sure people are pay-ing attention to it,” said Neomi de Anda, assistant professor of reli-gious studies at the University of Dayton who grew up in El Paso. “I’m not sure our political candidates are all that interested.” AP

Pope Francis starts Mexico trip

WASHINGTON—The O bama ad-ministration says i t is urging China and Taiwan to maintain

dialogue amid concern that the election of an independence-leaning party on the island could heighten tensions in one of Asia’s security hot spots.

A H o u s e f o re i g n a f f a i r s p a n e l o n A s i a e x a m i n e d t h e i m p l i c a t i o n s f o r Wa s h i n g to n o f t h e J a n u a r y e l e c t i o n that throws new uncer tainty over the relationship between democratic Taiwan and the communist mainland, which claims the island as its own territor y, to be recovered by force if necessar y.

The US is Taiwan’s most impor tant ally and source of defensive arms, but it has applauded the easing of cross-S t r a i t re l at i o n s u n d e r t h e o u t g o i n g Nationalist government, which fostered economic cooperation with China.

Senior State Department official Susan Thornton said on Thursday that the US has called on China to show restraint and flexibility in working with Taiwan’s new administration under Tsai Ing-wen’s Democratic Progressive Party, which takes

office in May. She said Tsai understands her obligations to pursue a policy to enable cross-Strait stability, and Beijing says it will look to see what Tsai proposes.

Thorton said she was hopeful the two sides could come with a basis for continuing exchanges. “I think there is a will on both sides to do so,” Thornton told the hearing.

China is demanding that Tsai, like her predecessor, agree that the mainland and Taiwan are part of a single Chinese nation.

Tsai has refused to endorse Beijing’s “one-China principle” but hasn’t publicly repudiated it either.

Republican and Democratic lawmakers were critical of Beijing’s attitude.

“Despite her underscoring her intention to maintain the status quo, and saying, ‘There won’t be provocation and there won’t be surprises,’ we cannot say the same for China.” said Republican Rep. Matt Salmon, who chaired the panel. “A steady stream of threats to Taiwan’s national security are an everyday reality for Taiwan and its people.”

Lawmakers urged more US arms sales and support for Taiwan’s membership in international organizations. AP

US urges China-Taiwan talks amid uncertainty after election

C A

PESO EXCHANGE RATES ■ US 47.4310 ■ JAPAN 0.4220 ■ UK 68.6516 ■ HK 6.0879 ■ CHINA 7.2253 ■ SINGAPORE 34.1304 ■ AUSTRALIA 33.5961 ■ EU 53.6966 ■ SAUDI ARABIA 12.6499 Source: BSP (12 February 2016 )

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BIZ GROUPS SUBMIT INITIAL LIST OF RULES THAT NEED TO BE REVIEWED9 SWEET VALENTINE’SDAY GIFTS THAT ARENOT CHOCOLATE

LRMC secures ₧24-B financing for LRT 1 Cavite Extension project

BEST OF 2015 HONORED

3 ZIKA-RELATED DEATHS ANNOUNCED IN VENEZUELA

Boxed chocolates are great, but they’re also

the most cliché thing you could possibly give someone on Valentine’s Day.”

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PREVALENTINE’S DAY WEDDING Filipino couples kiss during a mass-wedding ceremony ahead of Sunday’s Valentine’s Day celebration in Manila on Friday. About 350 couples exchanged vows in the ceremony sponsored by the Manila City Hall. AP/BULLIT MARQUEZ

IT’S Valentine’s Day this Sunday, and Americans will buy $1.1 billion of confectionery to mark the occa-sion, according to data from the Washington-based

National Confectioners Association (NCA). That’s up 2.6 percent from last year and the most since at least 2011. About three-quarters of that will be chocolate. The volume of US retail chocolate sales is expected to drop 0.6 percent to 1.37 million tons this year, accord-ing to market research company Euromonitor Interna-tional, down from 1.7 million tons in 2006. To counter this trend, and offset rising cocoa costs, manufacturers such as Hershey Co., Mars Inc. and Lindt & Spruengli AG are pushing pricier, premium chocolate. In the five years to 2015, US sales of plain dark-chocolate bars rose 35 percent to $618.9 million, compared with a 16-percent increase for plain milk chocolate, according to Euromonitor. Some consumers are also opting for dark chocolate because of its perceived health benefits, according to the NCA.

When it comes to chocolate consumption, Ameri-cans ranked joint 19th in 2015, Euromonitor says. The average person in the US ingested 4.3 kilograms (9.5 pounds) last year, while the chocolate-guzzling crown went to the Swiss, each of whom ate 9.1 kilograms on average. There’s little prospect of these numbers going much higher. S “V’,” A

C A

B L S. M

FUNDING for the construction of the Light Rail Transit (LRT) Line 1’s extension to Cavite

was secured on Friday, when Light Rail Manila Corp. (LRMC) signed the loan and security agreement with three locally listed banks to the tune of P24 billion.

Metropolitan Bank & Trust Co., Security Bank Corp. and Rizal Com-mercial Banking Corp. were tapped

to fund the initial P15.3-billion requirement for the construction of the first few stations in Cavite and the P8.7-billion rehabilitation of the train system.

T he LR MC—control led by Metro Pacific Investments Corp. and Ayala Corp.—also signed on Friday the engineering, procure-ment and construction agreement with French companies Bouyges Travaux Publics and Alstom Trans-port. The contract is worth around

SportsBusinessMirrorA7 | SATURDAY, FEBRUARY 13, [email protected]@businessmirror.com.phEditor: Jun Lomibao

VICTORY PARTY Players, coaching staff, team personnel and supporters of San Miguel Beer strike a pose during the Beermen’s victory party, for winning the Philippine Basketball Association Philippine Cup in historic fashion, on Thursday night at the San Miguel Corp. headquarters at the Ortigas Center in Mandaluyong. The Beermen clawed back from a 0-3 deficit against Alaska to win the title. NONOY LACZA

THE heroes and stars of Philippine sports in 2015 get their well-deserved recognition tonight when the Philippine Sportswriters Association (PSA) holds its traditional Annual

Awards Night, presented by Milo and San Miguel Corp.

Two world boxing champions and a rising golf star who scored a breakthrough win in the Asian Tour lead a long list of awardees to be feted at the One Esplanade in Pasay City.

World Boxing Organization (WBO) super-

bantamweight titleholder Nonito Donaire Jr., longtime WBO light-flyweight titlist Donnie Nietes, and Philippine Open champion Miguel Tabuena lead the two-hour program on the eve of Valentine’s Day as cowinners of the prestigious Athlete of the Year award by the country’s oldest media organization, headed by its president Riera Mallari, sports editor of The Standard.

It will be the fourth Athlete of the Year award for the 33-year-old Donaire, having won the trophy in 2007, 2011 and 2012,

while Nietes, 33, and Tabuena, 21, are first-time winners of the award solely handed out by the sportswriting fraternity to deserving Filipino athletes.

There are 111 awardees to be feted in the Awards Night, hosted by Quinito Henson and Patricia Bermudez-Hizon. The program starts at 7:30 p.m. The Philippine Sports Commission is a major sponsor of the Awards Night also supported by longtime friends of sports Smart, MVP Sports Foundation, Maynilad, Philippine Amusement and Gaming Corp., Philippine

Basketball Association, Philippine Charity Sweepstakes Office, Philracom, Accel, Sen. Chiz Escudero, SM Prime Holdings, Rain or Shine, Globalport, National University and One Esplanade.

The spotlight will also be on Gilas Pilipinas, which will receive the President’s Award, and Alaska President and CEO Wilfred Uytengsu Jr., named Executive of the Year. Uytengsu is also the guest of honor and speaker.

Baseball and softball great

Filomeno “Boy” Codiñera will be accorded the Lifetime Achievement Award, the Wushu Federation of the Philippines will be named the National Sports Association of the Year; while the Mr. Basketball titles will be given to Terrence Romeo and Calvin Abueva; and Ms. Volleyball to Alyssa Valdez.

Top achievers in their respective fields will be the recipient of major awards, led by San Miguel Beer main man June Mar Fajardo, who also leads the major awardees as the best in professional basketball.

The gold medalists in the 28th Southeast Asian Games and Asean Para Games will receive Citations, while eight departed friends of Philippine sports will be honored with Posthumous Awards.

Nine young personalities make up the year’s newest batch of Tony Siddayao awardees, while Kobe Macario and Kyla Soguilon are the recipients of the Milo Junior Male and Female Athletes of the Year awards, respectively.

Awardees and guests who did not get their invitations may get them at the venue.


JUST when the rest had virtually conceded the International Container Terminal Services Inc. (ICTSI) Anvaya Cove Invitational crown to

Miguel Tabuena, veteran Tony Lascuña knocked in one solid, fiery round in the wind that reminded everyone that all is not lost.

In fact, he put himself in a position to win.Lascuña recalled his fierce fighting form and

shot a bogey-free seven-under 65 then watched Tabuena crumble at the finish for a 77, turning an eight-shot deficit into a four-stroke lead in the most stunning one-day reversal involving marquee players in the seven-year history of the ICTSI Philippine Golf Tour.

“My driving and irons clicked even at the tougher backside,” said Lascuña, who spiked his stirring round with an eagle on the par-5 10th, his 33-32 card giving him a 54-hole aggregate of 11-under 205.

Lascuña’s 65 fell short of Tabuena’s record-setting 62 on Wednesday but it proved enough to lift him from eight back to four-up heading to the final 18 holes of the P3.5-million championship sponsored by ICTSI and organized by Pilipinas Golf Tournaments Inc.

Tabuena, who led Jay Bayron by six in the first two days and Lascuña by eight halfway through, actually bounced back from an awful 40 start with back-to-back birdies from No. 10 to negate Lascuña’s eagle and keep a one-stroke edge. But Lascuña birdied Nos. 13 and 16 to move ahead then went four-up after Tabuena dropped three shots on the par-4 17th on an errant drive in an unlikely foldup for a young player who dominated the elite field with his

brilliant shotmaking, iron play and putting in the first two days.

“I couldn’t do right out there. I missed too many short games and I hit only 12 greens. I was terribly disappointed because it happened in the most crucial part of the tournament,” Tabuena rued.

He signed for a 77 for a 209 although he still has 18 holes to recover and save the tournament that once appeared his for the taking.

“Golf is unpredictable. It always happens, sometimes you play good, sometimes bad,” Tabuena added.

Lascuña hopes to break that line with another solid finish in the event backed by adidas, TaylorMade, Pacsports Phils., Custom Clubmakers, KZG, Sharp and Anvaya Cove Golf and Sports Club.

“A four-stroke lead isn’t safe here at Anvaya where anything can happen, especially at the back. I just hope to play this good again tomorrow [today],” Lascuña said.

Japanese Toru Nakajima carded a 71 to join Bayron, who fumbled with a 73, at 211, six shots behind, while Dutch Guido van der Valk shot a 70 for fifth at 213 followed by Clyde Mondilla, who turned in a 71 for a 214, Korean Park Min-ung, who had a 215 after a 73; Cassius Casas, Omar Dungca and Charles Hong who had 70, 73 and 74, respectively, for 217s; and Korean Anthony Kim and Orlan Sumcad, who had 219s after a 71 and 72, respectively.

Defending champion Angelo Que finally broke par but his 71 could only lift him to joint 16th at 221 with Zanieboy Gialon (69), Joenard Rates (74), Randy Garalde (76), James Lam (77)

and Mars Pucay (77) behind the 220 scorers, including Rene Menor (71), Canadian Rick Gibson (73) and John Jackson of the US (74).

JOBIM CARLOS held off a late charging Justin Quiban to annex the men’s

title with a closing 71, while Princess Superal ran away with

the women’s crown with a bogey-free four-under 68 in the 21st W Express RVF Cup Amateur Golf Championship at Canlubang’s North course on Friday.

Carlos yielded three strokes in the last four holes but had built enough cushion to thwart Quiban’s rally to nail the win on a four-under 284 total in a follow-up to his national doubles win last December and national stroke-play

feat last month. He plays his last amateur tournament in

the Interclub next week as spearhead of the Canlubang team before joining the pro tour next

month.Fighting back from

six shots down to seize a one-stroke lead over Yuto

Katsuragawa in the third round, Carlos padded his lead to three with a 37

at the turn as the Japanese fumbled with a 39. Four off the pace, Quiban could only match Carlos’s frontside score, fell by

five with a bogey on No. 15 but earned a two-shot swing on the par-3 No. 15 before birdieing the last hole for a 69 for a 286.

Katsuragawa failed to recover and

closed out with a 36 for a 75 and dropped to third at 289, while first-day leader Luis Castro matched par 72 to salvage fourth at 293-followed by Carl Corpus, who fired a 71 for a 297, and Aidric Chan, who shot a 70 to tie Korean Tom Kim, who carded a 73, at 299, in the event conducted by the National Golf Association of the Philippines and held in honor of the late golf patron Rod Feliciano.

Superal, meanwhile, scored an expected wire-to-wire romp as The Country Club (TTC) ace again proved to be a cut above the rest, shooting four bogeys in windy condition for a 35-33 finish and a 285, a whopping 12-shot victory over TCC teammate Bernice Olivarez-Ilas, who had a 297 after a 73.

“I hit the ball well and there was no pressure, making it a lot easier to hole in the putts,” said the 19-year-old Superal, who stretched her amazing win run to seven, counting his four wins abroad to end the 2015 season and her triumphs in the Hong Kong Ladies Amateur Open and the Philippine Ladies Open last month.

Fil-Japanese Yuka Saso rallied with a 70 to tie Harmie Constantino, who hobbled with a 75, for third at 298, while Sam Martirez wound up fifth at 306 after a 76 and Sofia Legaspi placed sixth at 307 after a 71, followed by Mikha Fortuna (74-308), Kayla Nocum (75-309), Korean Hwang Min-jeong (78-311) and Indonesian Rivani Sihotang (79-317).

DE LA SALLE tries to get back on the winning track when it battles Adamson University on Saturday in the University Athletic

Association of the Philippines Season 78 women’s volleyball tournament at the Filoil Flying V Arena.

The Lady Archers, who bowed to the National University Lady Bulldogs, 16-25, 24-26, 25-14, 23-25, last Wednesday for their first loss in three matches in the season, face the Lady Falcons (1-1) at 2 p.m.

University of Santo Tomas (0-2) and Far Eastern University (1-1) square off in the other

women’s match at 4 p.m.Men’s action pits UST (0-2) against University

of the East (0-3) at 8 a.m. and University of the Philippines (1-1) against league-leading NU (2-0) at 10 a.m.

In men’s football, FEU eyes its second win opposite Ateneo at 1 p.m., and so will UP against De La Salle at 7 p.m., at the McKinley Hill Stadium in Taguig City. In women’s action, FEU opens its quest for a third straight crown against opening-day winner De La Salle at 3 p.m. Lance Agcaoili

THE 91st National Collegiate Athletic Association beach

volleyball tournament has turned into a brothers and sisters affair.

This, after the Taneo siblings, Relan and Rey Jr., of University of Perpetual Help, and twins Maria Jeiziela and Maria Nieza Viray of San Beda downed their respective foes to stretch their unbeaten streak to six in beach volley action at the Boardwalk of Subic Bay in Zambales on Friday.

The Taneos overpowered Mapua’s Philip Michael Bagalay and Samuel Joseph Almales, 21-15, 21-19, in a duel of undefeated squads to jump to the top of the men’s division.

The emphatic triumph pushed the Las Pinas-based school a win away from clinching a Final Four berth.

A sweep will catapult the Taneo pair straight to the finals and a

triumph away from reclaiming the championship Perpetual Help lost to College of Saint Benilde last season. It will also turn the Final Four into a stepladder semifinals.

“We’re starting to feel it,” said Rey, the elder of the Taneos, in Filipinos.

The Virays, on the other hand, overcame Letran’s Julia Angeles and Regielyn Cabrera, 25-23, 21-13, to also remain unbeaten in six matches in the women’s section.

Just a game behind the Virays were San Sebastian’s Gretchel Soltones and Dangie Encarnacion, the reigning back-to-back champions who slammed Saint Benilde’s Jannine Navarro and Melanie Torres with a vengeful 21-13, 21-14 win.

Soltones and Encarnacion improved to 5-1 (win-loss), which was good for joint second with their recent conquests, Navarro and Torres.

JULIUS NON set out for another big weekend against a crack international field out to foil his back-to-back title bid as action in the

third leg of the International Container Terminal Services Inc. (ICTSI) Philippine Kiteboarding Tour Season 3 got under way on Friday in Anguib, Santa Ana, Cagayan Valley.

Non, the pride of Soloviento, Caliraya, marked his return to the kiteboarding scene in emphatic fashion in Boracay last month, flaunting a near-flawless riding skills to beat Bong Fernando, Ronnel Mateo and former winners Doque de los Santos and Christian Tio for the men’s Twin Tip crown.

But his rivals are all geared up to foil his repeat bid, ensuring a thrilling battle for top honors in the three-day event, sponsored by International Container Terminal Services Inc. and organized by the Philippine Kiteboarding Association. The Red Bull-backed Tio, however, won’t be around due to a death in the family.

But the title chase is expected to be as fierce as ever along with those in the categories with a number of top European riders joining the event, backed by Cabo Engano, NCGAC, Ceza, NPR, CGAL, Ropali, Construcao, Saharra, Delimondo, SIA, First Cagayan, SunCity, Ikimoto, XTD, LGU Santa Ana, Yashiromaru and Meridien Vista.

Lisa Nikitina of Russia also seeks to defend not just one crown but two, including the Twin Tip and Freestyle but the Russian rider braces for a tough outing this time, against the likes of Germans Kathrin Bogwardt and Franziska Limmer, Viola Kaukonen of Finland, Julia Castro from Denmark, and local bets Mary Jane Gajisan and Liezl Tio.

Aside from Twin Tip and freestyle play for both men and women, the event, the penultimate leg of a four-stage circuit, will also showcase adrenaline-filled competition in the race category for men, women and Masters (40-above) and novice.

IT’S going to be a long, difficult journey for RC Cola-Army when it marches back to the Philippine Superliga (PSL) for the 2016 PSL

Invitational women’s volleyball tournament on Wednesday at The Arena in San Juan.

The Lady Troopers, winners of the league’s first three titles before taking a three-conference hiatus, are expected to have their hands full when they battle a competitive field composed of taller, younger and more aggressive players in the top-tier tournament to be aired live over TV5.

“It’s now an entirely different ball game,”

RC Cola-Army Coach Emilio “Kungfu” Reyes said. “Yes, we dominated the league, but that was three years ago. A lot of things already happened, a lot of young players got stronger. We’re not really sure if we can still win the way we used to be.”

Reyes added that they will be walking wounded as his prized setter, 39-year-old Tina Salak, is not in perfect shape while other seasoned spikers—37-year-old Michelle Carolino, 32-year-old Mary Jean Balse-Pabayo and 34-year-old Joanne Bunag have also showed signs of slowing down.

That, however, opens the door for other stars, like Jovelyn Gonzaga, Honey Royse Tubino, Tin Agno and Rachel Anne Daquis, to shine. “Tina’s not in hundred percent. Her knees are already bothering her,” said Reyes, who also calls the shots for University of Santo Tomas in the University Athletic Association of the Philippines.

Reyes said Foton will be a team to watch out for, as well as Petron and newcomers San Jose Builders and F2 Logistics, which will parade former De La Salle stars Cha Cruz, Paneng Mercado and Chie Saet.

OKLAHOMA CITY—Playing with a heavy heart a night after the wife of Assistant Coach Monty Williams died,

Russell Westbrook led Oklahoma to a 121-95 victory over New Orleans on Thursday.

Ingrid Williams was involved in a car crash on Tuesday in Oklahoma City and died on Wednesday. A moment of silence was observed by both teams who had ties to the couple. Monty Williams coached the Pelicans last season before coming to Oklahoma City to help new coach Billy Donovan.

Westbrook had 23 points, 10 assists and nine rebounds. Kevin Durant scored 23 points, and Serge Ibaka added 18 for the Thunder. They have won 14 of 16 heading into the All-Star break.

Anthony Davis and Jrue Holiday each scored 23 points for the Pelicans.

Khris Middleton scored 27 points, Giannis Antetokounmpo had 17 points and 13 rebounds, and Milwaukee held off Washington, 99-92.

Middleton answered again, hitting a jumper in the lane on the next possession before setting up a drive-and-dish to Greg Monroe that gave the Bucks a 97-90 lead with 15 seconds left. Middleton tied a season high with nine assists. AP

Westbrook, OKCmourn but beatPelicans at home

LASCUÑA IN THE HUNTTONY LASCUÑA checks the line of his putt at No. 8.

CARLOS BAGS MEN’S CROWN,SUPERAL WINS WOMEN’S TITLE

Non faces toughfield in Sta. Anakiteboarding leg

LADY TROOPERS FACE TOUGH TASK AHEAD

DLSU VS ADAMSON U IN UAAP

BROTHERS, SISTERS TRIUMPH

bantamweight titleholder Nonito Donaire Jr., while Nietes, 33, and Tabuena, 21, are first-time winners of the award solely handed out by the sportswriting fraternity to deserving Filipino athletes.











Miguel Tabuena, veteran Tony Lascuña knocked in

his 33-32 card giving him a 54-hole aggregate of

setting 62 on Wednesday but it proved enough to lift him from eight back to four-up heading to the

sponsored by ICTSI and organized by Pilipinas Golf

to negate Lascuña’s eagle and keep a one-stroke


























Men’s action pits UST (0-2) against University

Philippines (1-1) against league-leading NU (2-0)





SPORTS A7

B C N. P

BUSINESS groups have asked the Department of Trade and Industry (DTI) and the National

Competitiveness Council (NCC) to consider repealing or suspending some issuances of the Securities and Exchange Commission (SEC) and the Board of Accountancy (BOA) that are hurting the competitiveness of small and medium enterprises (SMEs).

Project RepealA systematic review and repeal of issuances hurting the country’s competitiveness

In a letter to Trade Secretary Adrian S. Cris-tobal Jr. and NCC Private Sector Cochairman Guillermo M. Luz, the Philippine Chamber of Commerce and Industry (PCCI), Employ-ers Confederation of the Philippines (Ecop) and Philippine Exporters Confederation Inc. (PhilExport) enumerated the SEC and the

[email protected], February 13, 2016A2

BMReports

Repeal of ‘burdensome’ SEC regulations sought

LRMC secures ₧24-B financing for LRT 1 Cavite Extension project… C

“People are already eating an awful lot of chocolate, and it’s a pretty satu-rated market,” said Jack Skelly, a Euro-monitor analyst in London. More than 400,000 US jobs—in industries including agriculture, re-tail and transportation—rely at least in part on the confectionery busi-ness, according to the NCA. Manu-facturers of chocolate, candy, gum and mints directly employ 55,000. The biggest concentration of choc-olate-related jobs can be found in a county in Pennsylvania—no surprise, perhaps, given that the Keystone State is home to Hershey. Boxed chocolates are great, but they’re also the most cliché thing you could possibly give someone on Valentine’s Day. If you’re looking for alternatives, order something special from a fantastic bakery that makes other kinds of sweet things too, and ships them, like colorful macarons or crisp-edged canelés.

New-school macaronsLAFAYETTE Bakery’s superstar baker Jennifer Yee is making extra-sweet macarons for Valentine’s Day, stamped with cute sayings just like the original Necco conversation heart candies. The box is a mix: crème de cassis, lemon-lime, raspberry-rose, orange, matcha and birthday cake. (Box of 6, $17; shop.lafayetteny.com)

Japanese candies GIVE the gift of cute, colorful, hard-to-find Japanese sweets. Japan Crate ships mixed crates once a month, and you have a few days to sign up in time for the February crate. Previous orders have included rainbow marshmallows a single 50-inch long gummy worm and soy sauce pretzels (with toy in-cluded!). (1 crate per month at $24 per month; japancrate.com)

Quirky ice cream THE Portland-based artisanal scoop shop will ship five pints of their strange and delightful flavors, from black truf-fle to bacon-banana-peanut butter. (5 pints, $65; saltandstraw.com)

Hard candyTHESE adorable old-fashioned candies are masterfully hand-shaped in San Francisco, so they hide tiny messages and pictures at their cores. (100g jar, $11; papabubble.com)

Kouign-amannDOMINIQUE ANSEL makes one of the finest pastries in New York and, no, it’s not the cronut. The Kouign-amann is a buttery, flaky gem from Breton, lay-ered with caramelized sugar—during summertime it made for one fantas-tic ice cream sandwich. The best time to give it to someone is first thing in the morning, so they can nibble it with cof-fee. (Box of 4, $22; dominiqueansel.com)

CanelésYOU already know about Épicerie Boulud’s stunning Nutella croissant, but what about Francois Brunet’s canelés? These tiny, custard-like cakes are baked extra dark so the edges are crisp, and the vanilla-scented cen-ter is almost creamy. (Box of 6, $29; epicerieboulud.com)

Crack pieSHOW your roommates or colleagues you love them with one of Milk Bar’s classic, crowd-pleasing crack pies. It’s got a crumbly oat crust and a super sweet, almost chewy butter filling, plus this time of year it’s dusted with an icing sugar heart. (10-inch pie, $46; milkbar.com)

CaramelsTHE San Francisco bakery turns out some of the most perfect caramels we’ve ever had using smoked butter: tender, chewy (but not too chewy!), and with just the right amount of salt. (1 bag, $12; craftsman-wolves.com)

Old-School MacaronsIF you need something serious-looking, Ladurée is the master of luxuriously packaged macarons. These are ten-der, glossy and not overfilled. Choose a range of flavors when you order, but don’t miss the rose petal, violet-cassis and pistachio. (Box of 20, $58; post-mates.com). Bloomberg News

Valentine’s. . . C A

Hong Kong-Zhuhai-Macao Bridget, the Port of Miami Tunnel and the Nîmes-Montpellier rail bypass in France. Construction of the ex-tension, Francisco said, will be slated for June, once the govern-ment completes the delivery of the transport infrastructure’s right of way (ROW), which is packaged into three phases. The first pack-age of the easement—which covers the first five stations—is almost 100-percent delivered.

“We’re quite happy with the de-velopments in the right of way one [first phase]. So far, they have ac-quired most—or about 95 percent —of the property that are needed. Our main concern is that there are still illegal settlers, but we got the report of the grantors that by April, they expect to do relocation of most of them, if not all of them,” Francisco said.

He added: “ We’re look ing

forward to the grantors doing that because, as we all know, that it’s going to be very difficult for us to start the construction only to stop because there are still things block-ing the way.” Targeted for completion in about four years after the delivery of ROW, the 11.7-kilometer Cavite Extension will connect into the ex-isting system immediately south of the Baclaran Station and run in a genertally southerly direction to Niyog, Cavite. It will consist of el-evated guideways throughout the majority of the alignment, except for the guideway section in Zapote, which will be at grade. Eight new stations will be pro-vided with three intermodal facili-ties across Pasay City, Parañaque City, Las Piñas City and Cavite. The new stations are Aseana, Manila International Airport, Asia World, Ninoy Aquino, Dr. Santos, Las Piñas,

Zapote and Niog. The intermodal fa-cilities shall be at Dr. Santos, Zapote and Niog.

The commercial speed of the Cavite Extension will be 60 km per hour (km/h). The horizontal align-ment shall be designed for a train speed of 80 km/h for the mainline track; 60 km/h through stations; and 30 km/h for secondary and depot tracks. The new stations will be accessible to and from nearby community facilities, such as shops, schools, stadium, park, etc. Their locations will suit passenger-flow routes from residential areas. Pedestrian access to all new sta-tions will be direct, safe and easy. Details such as lighting to distin-guish access points, pedestrian cross striping and curb cuts for handi-capped access will be provided. Noel Eli B. Kintanar, the Filipino railway company’s chief develop-ment officer, noted that his group

also plans to open up the stations for retail businesses and use the system to generate ad revenues.

“We have partnered up with Ayala Land Inc. to try to uplift the retail experience along the line. Now on the advertising side, we’ve picked an ad partner that has expe-rience in Southeast Asia and even in London, the whole idea is to get that good experience to the com-muter, that when he goes out, it is not cluttered,” he said.

The company has partnered with international media company Phar Partnerships Pte. Ltd. for the commer-cialization of all nonfare box revenue streams across the entire train line, which includes all forms of advertis-ing, major brand partnerships, Wi-Fi, fiber optics, retail-led solutions, naming rights, data and applications, automated teller machines and other category partnerships. The private company holds the

concession for the operations, maintenance and extension of the train line. It signed the agreement with the government in October 2014. The company will operate and maintain the oldest train sys-tem in the Philippines for 32 years.

The extension is expected to enhance commercial development around the rail stations. The government recently invited Japanese firms to bid for the con-tract to supply 120 brand-new train cars for the railway line. The capacity-augmentation pro-gram will be funded through a loan extended by the Japan International Cooperation Agency, hence, the pro-curement will be exclusive to Japa-nese companies or consortia. These 120 light-rail vehicles will be configured in 30 four-car train sets, to allow the rail line to accommodate up to about 750,000 passengers daily.

BOA issuances that are “burden-some” to SMEs. The PCCI, Ecop and PhilExport made the appeal in line with the NCC’s Project Repeal pro-gram, which was proposed in the first NCC board meeting held in January.

Project Repeal seeks to establish a “systematic review and repeal process” of legislation, executive and departmental orders and even local government ordinances and issuances to streamline regulations.

The three groups acted on the proposal immediately, targeting what they deem are difficult require-ments that SMEs have no capacity to meet. The SEC-related issuances identified by the business groups for either suspension or review are:

■ Memorandum Circular (MC) 6–2014, requiring the complete ad-dress of corporations and partner-ships in their amended articles of incorporation/partnership;

■ MC 20-2013, directing all board directors and key officers of publicly listed firms to attend at least once in a year trainings on corporate gover-nance conducted by SEC-accredited training providers; and

■ MC 10-2014, or the guidelines to implement Revenue Regulation 1-2014 of the Bureau of Internal Revenue (BIR), which requires the submission of the alphalist disclos-ing specific income and taxes paid.

The groups also cited a new policy of the BOA requiring com-panies with revenues above P10

million a year to engage Certified Public Accountants to prepare fi-nancial statements and to sign a Cer-tificate of Preparation and Disclo-sures Notes to be attached to annual financial statements. On MC 6-2014, in lieu of pro-viding the complete address of corporations and partnerships, the groups suggested that a board res-olution from the company should suffice to avoid costs and time in amending the articles of incorpora-tion and partnership. The groups are also asking for a prospective implementation of the circular. Incurring additional cost, mean-while, was the reason the groups opposed MC 20-2013.

“Additional burden may come

from board members in regional headquarters outside the country who will have to fly in to comply with this policy,” the groups said, suggesting that attendance to these seminars be left to the discretion of the company. They also sought to be allowed to resort to online means to disseminate information.

Stronger opposition was aired by the three groups on MC 10–2014, a tax-related measure, for reasons of compromising company competi-tiveness and possible violation of the country’s bank secrecy laws.

“We propose that the policy be suspended, as it poses a grave threat to our ability to attract local and for-eign investments,” the groups added. On the BOA’s policy, the organizations

similarly sought for a suspension, as they argued that its implementation is prejudiced against SMEs and is a redundant requirement. “The BOA rule is ‘unnecessary and redundant,’ since all financial statements submitted to the SEC and the BIR are already required to have a duly-signed Statement of Management’s Responsibility,” the business groups said in their letter.

Existing rules and regulations are already in place to ensure the integrity of companies’ financial statements, they said further.

The PCCI, PhilExport and Ecop are expected to come out with an-other list of regulations for review or repeal to the NCC, but this time on non-SEC-related matters.

C A

SC rebuffs Aquino on mining dealB J R. S J

THE Supreme Court (SC) has nullified a Court of Appeals (CA) ruling which affirmed

the decision of President Aquino to revoke the alleged midnight deal be-tween the Arroyo administration and a Canadian mining firm and its local partners involving large-scale explo-ration, development and utilization of minerals in the municipalities of Rizal, Bataraz and Narra in Palawan.

In a 16-page decision penned by Associate Justice Estela Perlas-Ber-nabe, the SC’s First Division granted the petition filed by local mining firms Narra Nickel Mining and De-velopment Corp., Tesoro Mining and Development and McArthur Mining Inc. seeking to invalidate the CA ruling issued on February 23, 2012.

The High Court held that the ap-pellate court has no jurisdiction over the issue, thus, its decision should be declared null and void.

“The Court finds that the CA improperly took cognizance of the case on appeal...for the reason that the OP’s [Office of the President] cancellation and/or revocation of the FTAA [Financial or Technical Assistance Agreement] was not one which could be classified as an ex-ercise of its quasi-judicial authority, thus negating the CA’s jurisdiction over the case,” the SC said..

It pointed out that quasi-judicial or administrative adjudicatory pow-er is the power of the administrative agency to adjudicate the rights of persons before it it.

The Court added that the ad-ministrative body exercises quasi-judicial powers when it performs in a judicial manner an act which is essentially executive or administra-tive in nature, where the power to act in such manner is incidental to

or reasonably necessary for the per-formance of the executive or admin-istrative duty entrusted to it.

It further explained that the OP’s cancellation and/or revocation of the FTAA is not an adjudication as it can-not be likened to the judicial function of a court of justice, or even a quasi-judicial agency or office.

It noted that the OP was exercis-ing an administrative function pur-suant to the President’s authority to invoke the Republic’s right.

It added as one of the contracting parties, the OP could not have adju-dicated in which it is an interested party, as in a court where rights and duties of parties are settled before an impartial tribunal.

“Thus, at least with respect to cases affecting an FTAA’s validity, the court holds that the OP has no quasi-judicial power to adjudicate the prioriety of its cancellation/revoca-tion,” the Court ruled.

“To reiterate, being a government or public contract, the FTAA is sub-ject to fundamental contract princi-ples, one of which is the principle of mutuality of contracts which would definitely be violated if one were to accept the view that the OP, a con-tracting party, can adjudicate on the contract’s own validity,” the SC said.

On February 23, 2012, the CA held that petitioners Narra Nickel

[email protected] Editor: Vittorio V. Vitug and Max de Leon • Saturday, February 13, 2016 A3BusinessMirrorEconomy

LTFRB sets April 30 deadline for provincial buses to install GPS device

B C U. O

CONSTRUCTION, wholesale and retail trade, and ad-ministrative services laid

off the most number of employees in the third quarter of 2015, ac-cording to the Philippine Statistics Authority (PSA).

The results of the Labor Turnover Survey (LTS) in the National Capital Region (NCR) showed that, while there were 7.87 percent separations in the quarter, around 4.3 percent of these separations were employer-initiated.

“Separation refer[s] to termi-nations of employment due to a) quits or terminations initiated by the employees and b) layoffs or ter-minations initiated by the employ-

ers due to economic reasons [e.g., lack of market, financial losses, redundancy, end of contract] and non-economic reasons [e.g., gross negligence, absence without leave],” the PSA said.

The highest separation rate was in construction at 16.04 percent. This was comprised mostly of em-ployer-initiated separations or lay-offs at 12.65 percent.

This was followed by the whole-sale and retail trade, repair of motor vehicles and motorcycles, which posted the second highest separation rate at 11.18 percent, of which, 7.42 percent was employer-initiated.

Third was the administrative and support service activities, which had a separation rate of 10.39

percent. Around 5.15 percent of this was accounted for by layoffs.

Meanwhile, the results of the LTS also showed that the 11.07- percent growth in new hires in the third quarter was mainly due to the replacement of workers.

The PSA said the accession or new hires brought by worker replace-ments was at 6.35 percent, higher than the 4.72 percent attributed to the expansion of businesses.

“[Accessions] refer to permanent or temporary additions to employ-ment in the enterprise due to 1) expansion of business activity and 2) replacement of separated work-ers and employment resulting from changes in methods/technology of production or service,” the PSA said.

PSA data showed the highest

replacement rates were recorded in administrative and support service activities; wholesale and retail trade, repair of motor vehicles and motor-cycles; and mining and quarrying.

Around seven industry groups registered higher accession rates due to expansion of business activities than replacement of workers.

These were construction; other service activities; and transporta-tion and storage.

The LTS is a quarterly sample sur-vey of enterprises conducted by the PSA since the third quarter of 2002.

The survey aims to capture “job creations” and “job displacements” in large business enterprises based in Metro Manila by collecting quar-terly data on accessions and separa-tions of workers.

More workers in construction, wholesale, retail business lost their jobs in Q3 2015

Mining and Development Corp., Tesoro Mining and Development and McArthur Mining Inc. failed to substantiate its claim that the OP committed grave abuse of discre-tion in ordering the revocation of the mining firms’ FTAA on April 6, 2011, and denying their motion for reconsideration (MR) in a resolution issued on July 6, 2011.

President Aquino canceled the mining firms’ FTAA based on the complaint filed by another mining firm, Redmont Consolidated Mining Corp., which alleged that the recom-mendation and approval of the FTAA in favor of the petitioners were done with grave abuse of discretion.

Redmont claimed that there were violations of the mining law, its rules and regulations, as well as other

applicable laws connected with the conversion of petitioners’ mineral production and sharing agreement (MPSA) and exploration permit ap-plications filed in 1991 and 2001, respectively, to FTAA applications in 2007.

The appellate court also did not give weight to the argument of the petitioners that the FTAA can no lon-ger be canceled since it had already been approved by former President and now Pampanga Rep. Gloria Ma-capagal-Arroyo.

The petitioners stressed that the OP cannot cancel their FTAA being one of the contracting parties.

But, the CA noted that under Sec-tion 17.2 of the FTAA, it was clearly expressed that the same may be canceled by either party if there was

violation of its terms and conditions, failure of the contractor to pay taxes and fees.

Based on the records, the FTAA was approved in favor of MBMI Re-sources, a Canadian mining firm and its local partners covering four prop-erties in the municipalities of Rizal, Bataraz and Narra, all in Palawan, on April 5, 2010.

Meanwhile, Redmont, who also has an application of mining explo-ration permit, filed a petition for cancellation/revocation of FTAA before the OP citing violations of the mining law committed by the petitioners.

On April 6, 2011, the President ruled in favor of Redmont, prompt-ing the petitioners to elevate the case before the CA.

DAVAO CITY—The Board of Investments (BOI) has reported P366 billion

worth of investments cornered by Regions 11 (Davao) and 12 (South Cotabato, North Cotabato, Sultan Kudarat, Sarangani and General Santos) last year.

Gil Dureza, BOI chief of invest-ments for Regions 11 and 12, said there was an increase in invest-ments value last year with the entry of Enfinity Philippines for renewable energy for the develop-ment of a 33.56-megawatt solar- power project in Digos, Davao del Sur. The total investments last year was about 3.38 percent higher than that of 2014, when the reg-istered total investments was at P354 billion.

In an interview with Dureza, it was learned that there were 15 listed projects last year, some of which already went on commer-cial operations while others ex-panded their existing businesses.

He said the projects were of mixed categories—from real estate to manufacturing, transportation and storage, accommodation and food service.

Among the investors listed under real estate were Davao Joy-ful Homes Realty Corp., Johndorf Ventures Corp., Mountain Haven Development Inc., Communities Pampanga Inc., Filinvest Land Inc. and 8990 Housing Develop-ment Corp.

One information and commu-nications technology (ICT) project was listed under Cybercity Teleser-vices Philippines Inc. with a capac-ity of 2,012 employees.

Under manufacturing, the players were Starbridge Global Corp., an export producer of wood pellets, Consolidated Plywood Industries Inc., producer of wood products, decking, T&G flooring and pallets parts; Palm Asia Mill-ing Corp., production of crude palm oil, palm kernel oil and by-product palm kernel oil; and Sam-mito Packaging Corp., export pro-ducer of plastic products, vacuum packs and poly bags.

Another project on the list was on transportation and stor-age, with Panabo Trucking Ser-vices Inc. expanding as provider of logistics services to exporters through bulk handling and cold storage, while Filsure Enterprise Corp. will be on marketing of liquefied petroleum gas (Sure Gas and LPG Bottling Plant).

The Gohotels Davao Inc., which caters accommodations and food-services activities, will operate its new hotel in Lanang with 198 rooms.

On the other hand, Dureza said the foreign direct investments contributed to the rise in invest-ments value.

He said 61 percent of the in-vestments were mostly on busi-ness-process outsourcing and the ICT sectors, which are top-priority industries, he added. PNA

Regions 11, 12 gained P366-B investments last year–BOI

STARTING end-April, all pro-vincial buses will be equipped with global positioning sys-

tem (GPS) devices as mandated by the government to minimize road risk.

This allows the Land Transpor-tation Franchising and Regulatory Board (LTFRB) to raise its capabili-ties to monitor buses to ensure the safety of the riding public.

“The LTFRB’s main aim is to protect the safety of the riding pub-lic by regulating the speed limit of buses traversing our national roads and highways,” LTFRB Chairman

Winston M. Ginez said on Friday. “With the use of the latest

and innovative technology, we believe we can modernize our transport system and provide the commuters with reliable, convenient and safe transporta-tion services,” he added.

Ginez said the GPS device can help the LTFRB check if a bus is within the speed limit, and on its proper route based on the approved franchise.

As mandated by the regulator, all provincial bus operators are re-quired to install and register GPS

devices on their units on or be-fore April 30. Buses plying routes within Metro Manila must install the device on their units starting May 1. Inter-regional buses not en-tering Metro Manila are required to install GPS devices on their units by September 1, and intra-regional buses on January 1 next year.

Four GPS devices have con-formed with the technical speci-fications, and passed the testing procedures jointly conducted by the LTFRB, the Department of Transportation and Communi-cations and the Department of

Science and Technology.The LTFRB has already in-

formed bus transport associations, such as the Provincial Bus Opera-tors Association of the Philippines and Southern Luzon Bus Operators Association, of the initial list of up-to-spec GPS devices.

Only the said devices and ad-ditional brands that will pass the testing procedures can be reg-istered with the LTFRB and in-stalled on bus units, which can be done only by the GPS device pro-vider under the supervision of the LTFRB’s personnel.

Bus operators who fail to in-stall GPS devices will be penalized P5,000 per unit. After the 30-day grace period from the end of the compliance period, an additional penalty of P1,000 per unit per month will be imposed.

The LTFRB will also penalize operators or drivers found tamper-ing with the devices: P5,000 for the first offense; P10,000 for the sec-ond offense; and P15,000 and the suspension of their certificate of public convenience for a month for the third and subsequent offenses.

Lorenz S. Marasigan

LET THERE BE LIGHT Linemen on a crane install lights on a post along the Ninoy Aquino International Airport (Naia) Elevated Express-way Project Phase 1, that straddles between Pasay and Parañaque Cities. Still under construction, the project is expected to provide better ac-cess to airport terminals upon its completion. But, in the meantime, expect heavy traffic congestion along the roads leading to the airport this weekend, as test-pitting activities from Piers 1 to 18 to connect Naia Expressway Phase II with the existing Phase I component of the project, according the public works department. (See story on A6) NONIE REYES

Saturday, February 13, 2016 •Editor: Angel R. Calso

OpinionBusinessMirrorA4

Govt’s responsibility to investors

editorial

TO hear the politicians talk, the world is a simple place, especially when it comes to economics. Actually, the only times that global economics was even relatively simple was during the age of colo-

nization. The colonial power takes the raw materials, ships them back to the mother country to be turned into finished goods, and then sells those goods back to the colony.

Everybody seems to be the most upset with China, which has taken most of the basic global manufacturing to its own shores. The products previously manufactured in the Philippines for export—Christmas decorations, sports shoes and textiles, to name a few—are all now being made in China.

There is justification for the anger and frustration that the Philippines has lost its limited manufacturing base to China. However, this all did not take place in a vacuum. The Philippine government was complacent and also preoc-cupied with other matters in the mid -to late-1980s. Cleaning up the economic mess from the early 1980s, and the ignorance of both labor and management to what was happening abroad helped lead to losing out to China.

But in the age of speed-of-light global communications and a more highly skilled work force around the planet, there are clear economic trade-offs that have led to this shift of not only manufacturing but other businesses.

In the US, for example, a new iPhone costs between $650 and $850. These phones are made in China, where the labor cost per phone is about $5. With a move to an hourly minimum wage in the US to $15, it is obvious that a US-made phone is going to cost substantially more.

However, it is not the labor cost that is the most significant financial advan-tage to manufacturing in China. China—think Philippine Economic Zone Authority in the Philippines—has special regions designed just for manufac-turing with the infrastructure that companies like Apple-product manufac-turer Foxconn need. The support facilities include things like government- sponsored housing and commercial needs for employees.

Government regulatory agencies, like Customs, are on-site, mandated to make sure that everything goes as smoothly as possible for the manufac-turers. This is not only for foreign companies but also for local companies manufacturing for export.

Another thing that China did to support its Apple-product manufacturing is to assist the assembling factory to bring in suppliers, like for the critical cell- phone-display screen. The Chinese government viewed its responsibility as a partner to its foreign and local investors, which meant going far beyond the Philippines’s idea of a “one-stop” paperwork office.

If you have ever rented office space in a building, then you know how government should act. The owner and property manager work with the tenant, ideally at every step of getting started and through the life of the relationship.

That is what other governments have done—including in Vietnam, Thai-land and Indonesia—and what the Philippine government failed to do.

THE presidential candidates continue on their campaigns like children skipping through the grass without a care in the world talking about all the great ways they are going to spend

the people’s money. Meanwhile, in the real world, the economic transition that I have been talking about for nearly a year continues.

After deflation

The transition from “faith” in the public sector to faith in the private sector is not some academic-eco-nomic model. It is a continuing cycle that has been going on for several millennia. There have always been two choices—putting your confi-dence (and money) on the private sector or on the public sector. We are at the beginning of the transition to the private sector.

This past week, we saw an im-portant indication of the loss of confidence in government with

the increase in the price of gold. Contrary to the nonsense you may have been told, gold is not an in-flation hedge. Global inflation is at its lowest in decades, and gold is going higher. However, gold has always been a “hedge” against a loss of confidence in government. When the government or the cur-rency fails, people convert their wealth to a hard commodity. During times of deflation—or government- induced hyperinflation—that hard commodity is gold.

During times of loss of confidence in government, people start hording money, even in the Philippines. The amount of money in personal sav-ings accounts in Philippine banks reached an all-time high in December 2015 at nearly P4 trillion. But con-ventional wisdom—which is usually wrong—says that it is only the rich Filipinos who have bank accounts or even save money.

We have been told by the finan-cial gurus that Filipinos do not use banks as much as other countries, and that is true. Of course, most of the gurus are financially supported by the banks. In truth, data from the World Bank shows that even in the lowest 40-percent wealth cat-egory of Filipinos, 20 percent have formal bank accounts. The number of Filipinos with bank debit cards has doubled since 2011. Sixty-seven percent of all Filipinos say that they have some money saved, even if it is under the bed.

Rich and poor alike are now hoarding cash, because of people losing their confidence in the

government. They look for short-term protection, which is gold. But the alternative to putting faith and funds in government is to look to the private sector. The transition to the private sector—stock markets, corporate debt at real positive inter-est rates and starting businesses not dependant on government policy—will take time.

When the transition finally comes over the course of this year, it will be like a person leaving a bad relationship and ready to party once again.

And like in that silly example, there will be a great desire for “re-venge” on the ex-partner, in this case, the politicians who got the world into the current financial cri-sis. The year 2016 is only the start of the “purge” of the political class that will come in 2017.

E-mail me at [email protected]. Visit my web site at www.mangunonmarkets.com. Follow me on Twitter @mangunonmarkets. PSE stock-market in-formation and technical analysis tools provided by the COL Financial Group Inc.

B J B | Bloomberg View

WE began with more than 20 Republican candidates. Seventeen made it to a formal announcement. Eleven reached Iowa. Now six remain; and with Ben Carson

going nowhere, only five have a chance to win the nomination. Here is how each of them could do that.

The five Republicans who could be president

Donald Trump wins by repeat-ing what he did in New Hampshire. As long as the rest of the field is split, he’ll benefit in two ways: Negative ads will be aimed at other Republi-cans, and a third of the vote will be enough to win.

It remains an unlikely path. Losers drop out. Long before Trump will probably have only one or two opponents. This is bad news for a candidate who remains unpopular among many Republicans and ap-peared vulnerable to negative ads in Iowa. His ability to dominate the me-dia has been his greatest strength, but that’s more difficult now than it was before Iowa, and it will continue to get harder.

Ted Cruz wins by surviving as other candidates wash out, then by defeating Trump head to head. Rubio’s setback in New Hampshire helps him. If Cruz can crush the Florida senator and the other main-stream conservatives in South Caro-lina, he’ll be in good shape whether

he beats Trump there. The challenge for Cruz is his un-

proven ability to draw votes from the ideological center of the Repub-lican Party and his prospects for dominating groups most likely to support him. He has a fair amount of support from party actors, but it is factional. And it can’t help that so many Republicans, who have worked with him, can’t stand the guy.

Marco Rubio wins if his post-debate collapse in New Hampshire turns out to be short term. He had a large lead over Jeb Bush and John Kasich nationally before Tuesday and in South Carolina in January, the last time its Grand Old Party voters were polled. If that holds, he’ll knock both Bush and Kasich out soon, and he remains the logical destination for most of their voters. That’s the same path he’s been on all along: survive the early events and appeal to the widest range of groups, eventually consolidating all of the anti-Trump and/or anti-Cruz vote.

He remains the most likely nomi-nee right now, even though he has lost a lot of leeway. Another bad de-bate performance could doom him, as might anything that reinforces a view of him as an empty suit. Most party actors are still sitting on their hands. Still, Rubio has more support from them than anyone else in the race, and that backing is not just from members of Congress. He now has a large lead in support from cur-rent and former state legislators. He has added about 100 endorsements from those state-level politicians in the last three weeks, and now has 324 current and former state legislators backing him; Cruz has picked about 50 in this group over the same period and is second at 244. Bush (185), Kasich (141) and Trump (37) haven’t been adding to their support at all.

Jeb Bush wins if he surges off of his mediocre fourth-place finish in New Hampshire. His path to victory is basically the same as Rubio’s. He moves up to a strong third (behind Cruz and Trump) or better in South Carolina and knocks Rubio and Kasich out, then consolidates anti-Trump and anti-Cruz votes.

He faces several hurdles that make success unlikely. We have little polling this week, but Bush still prob-ably trails Rubio in South Carolina

and nationally. If the press touts one candidate for his showing in New Hampshire (besides Trump), it’s more likely to be Kasich than Bush. Republican voters just haven’t liked Bush much so far, even though he’s outspent everyone. Also a problem for Bush: In a three-way contest with Trump and Cruz, his more moderate image and positions would make it tougher for him to compete for con-servative and very conservative votes (in contrast to Rubio, who has posi-tioned himself as more conservative).

John Kasich wins if his second-place finish in New Hampshire generates plenty of press attention, producing a surge of voter support, which, in turn, allows him to beat Rubio, Bush and Cruz in the com-ing contests. But he would need to do well even in conservative states, beginning in South Carolina. He can’t win the nomination without that support.

A big theme of this election cycle is that any candidate can get a sudden surge. But, so far, there’s no sign the Ohio governor is receiving one. Even if this happens, Kasich may just be too moderate to win. We’ll know more when we get some post-New Hamp-shire polling. Kasich’s campaign has talked about hanging on until some big Midwestern states vote in March, but that’s not a winning path.

OUTSIDE THE BOXJohn Mangun

Saturday, February 13, 2016

[email protected]

WITH the start of the Lenten season, I would like to encour-age more Filipino Catholics to fast during the Lent and take part in the “No Meat Friday National Campaign.”

No meat Friday: A response to Pope Francis’s call to practice mercyby the United Nations Food and Ag-riculture Organization, the livestock sector generates more greenhouse- gas emissions as measured in CO2 equivalent (18 percent) than trans-port. It is also a major source of land and water degradation.

Aside from the documented health, social and environmental benefits of abstaining from meat during all Fridays of Lent, this cru-sade also serves as response to His Holiness Pope Francis’s call to prac-tice mercy through concrete act of charity. I also urge people to do works of charity from whatever resources they are able to attain from the peni-tential abstinence from meat.

Together with our collective and personal initiatives toward meat-free Fridays, we should, likewise, take this opportunity to do works of charity and exercises of piety from whatever resources we are able to at-tain from our penitential abstinence from meat. This enables our act of sac-rifice to find holism, which disposes us to love God above all creatures, and to love ourselves and our neigh-bors for the sake of God. This act also

supports “Fast2Feed,” a fund-raising campaign for the Church’s Pondo ng Pinoy—Hapag-Asa (literally “table of hope”) feeding program. This cam-paign advocates eliminating hunger in the country.

In his pastoral letter for Ash Wednesday 2016, Manila Arch. Luis Antonio Cardinal Tagle, DD, urges the faithful to feed the hungry chil-dren as their concrete act of charity in this Extraordinary Jubilee of Mercy.

“In this Extraordinary Jubilee Year of Mercy, let us heed Pope Fran-cis’s call to practice mercy through concrete act of charity. It only takes P1,200 or P10 per day to bring back a hungry and undernourished child to a healthy state in six months. Let us make a difference in their lives by fasting and donating whatever we save to Hapag-Asa.”

To know more about Caritas Manila, visit www.caritasmanila.org.ph. For your donations, please call our DonorCare lines 563-9311, 564-0205, 0999-7943455, 0905-4285001 and 0929-8343857. Make it a habit to listen to Radio Veritas 846 in the AM band, or through live streaming at www.veritas846.ph. For comments, e-mail [email protected].

When will the financial markets stabilize again?

THE financial markets in the world continued to be rattled by external events, led by the weakness of the Chinese economy and the plummeting price of oil. The Philippine stock market

is no exception, riding in seesaw fashion, mirroring movements of stock markets around the world. Year-to-date, it is down by about 4.3 percent, falling close to 6,000 levels in mid-January 2016. Compared to a year ago, the levels are down by almost 10 percent, and from the all-time high in April 2015, the levels are down 18 percent. This brings us to the question—can the market still recover?

The new frontier of negative interest rates

WHEN central banks start exploring strange new worlds, the results aren’t always ideal. Quantitative easing (QE) wasn’t just a change in mon-

etary policy, but a whole new kind of monetary policy—a journey into the unknown. It isn’t over yet, but there’s already a debate about drawbacks and unintended consequences. With that question far from resolved, another adventure in super-loose monetary policy has begun: negative interest rates. This week, as global markets plunged, unforeseen complications have arisen there too.

compensated for bringing spending forward. An editorial in The Econo-mist made the point well:

Small savers would use any avail-able form of prepayment—gift vouch-ers, long-term subscriptions, urban-transport cards or mobile-phone SIM cards—to avoid the cost of having money in the bank.

That would be only the start of the topsy-turviness. Were interest rates negative enough for long enough, spe-cialist security firms would emerge that would build vaults to store cash on behalf of big depositors and clear transfers between their customers’ accounts. Firms would seek to make payments quickly and receive them slowly. Tax offices would discourage prompt settlement or overpayment of accounts: one Swiss canton has al-ready stopped discounts for early tax payment and said it wants to receive money as late as possible.

Well, that last part sounds quite appealing. (Everybody’s favorite New Yorker cartoon comes to mind: “How about never? Is never good for you?”) People would adjust to the new rules, eventually. Trouble is, that calls into question the policy’s usual rationale: It’s typically seen as a temporary expedient.

Concerning the flight to cash, that could be dealt with, as well. To remind, with negative rates in place, cash is a better place for savings than a bank account. The possibility that people might switch to cash, there-fore, makes it difficult to force rates below zero. The cost of holding cash (including the risk that it might be stolen) creates some room for ma-neuver. Beyond this, central banks could further discourage the use of cash by forcing down its value rela-tive to electronic balances —in effect,

taxing its use—or move to abolish it altogether.

Undermining paper currency in this way would be politically fraught, at best. Yes, inflation undermines pa-per currency, so the phenomenon is hardly new. But no central bank will want to say, “We can’t get inflation any higher with our usual methods so we’ve decided to undermine the currency directly.”

Suppose they did dare, think-ing they could get away with it and reckoning that the economics is cor-rect even if the politics is, you know, challenging. With financial anxiety running high and the flow of credit blocked, would such a dramatic de-parture actually work as intended, helping to calm nerves and incline borrowers and lenders to take risks? It might very well do the opposite. A reckless-seeming experiment is not the best way to restore confidence.

Central banks have shown that the lower bound for interest rates is less than zero. They’ve shown that the ability to hold cash instead of electronic balances doesn’t draw any sharp or fixed line, as previously supposed. There’s at least some room for maneuver at less than nothing.

The ECB can probably make its deposit rate a bit more negative. In fact, it’s as good as promised to do so in March. Legal complications per-mitting the US Federal Reserve (the Fed) could push rates slightly nega-tive, as well, though Fed Chairman Janet Yellen told Congress this week she thought it wouldn’t be necessary.

The main point, though, is that this room for maneuver is limited. There is indeed a lower bound to in-terest rates—cultural, political, pru-dential— and we’re close. For the mo-ment, we just don’t know how close.

SERVANT LEADERRev. Fr. Antonio Cecilio T. Pascual

EAGLE WATCHAlvin Ang

Shares in European banks suf-fered especially badly during this renewed market turmoil. There was more than one reason, but negative rates seem to be implicated. Banks’ deposits at the European Central Bank (ECB) now pay minus 0.3 per-cent, and a further cut has been ad-vertised for next month. The idea is to encourage banks to lend more (rather than sit on idle balances) and to lower the cost of capital for riskier borrowers. The new concern is that negative rates have squeezed banks’ profits and put their sound-ness in question.

Advocates of negative rates might be perplexed by this appar-ent squeeze on bank profits. They might wonder, why should that happen? Banks simply have to pass the negative rate on to their various customers, borrowers on one side and lenders on the other. The spread between the two needn’t change. But it seems that banks have been reluc-tant to force negative rates on to their

depositors—hence the squeeze on profits. Perhaps, the banks are wor-ried that depositors wouldn’t like it. Upsetting them is something banks are understandably reluctant to do.

Policy-makers seem to have doubts, as well. The Bank of Japan recently startled financial markets by adopting negative rates, having previously said it wasn’t going to—but it structured the new policy so that it works at the margin of the banks’ balances with the central bank, rather than applying to the to-tal. Why? So that the banks wouldn’t need to pass the change through to depositors.

Policy-makers and banks alike are embracing negative rates timidly —and they’re right to be cautious. Substantially negative rates would be an even braver adventure than QE.

As I’ve previously mentioned, a world of negative rates is a very weird place—one where savers pay borrowers for the privilege of defer-ring consumption, and borrowers get

Catholics are obliged to fast and abstain during Ash Wednesday and Good Friday but are encouraged to do it in all the Fridays of Lent. Catholics are encouraged to observe the peni-tential abstinence from meat during this time as part of self-denial and mortification in prayerful remem-brance of the passion of Jesus Christ.

Everyone are enjoined to examine the prevailing “signs of the times” and to consider offering all Fridays throughout the year to make amends of our personal sins and the sins of mankind, which we are called upon in union with Christ, crucified through our continued abstinence from meat.

The abstinence from meat is a form of penance in honor of Jesus’ death. The act of abstinence also gives us the chance to voluntarily give up something good for our spiritual benefit.

In addition to the spiritual ben-efit, eating less meat would improve people’s health. It is scientifically proven that the reduction of meat consumption could prolong one’s life by up to 20 percent. That same study from Harvard Medical School also indicates that each serving of red meat increased the risk of death by 13 percent.

Meanwhile, according to a report

In answering this question, it can be observed that many Filipinos have started investing in the stock market, mutual funds and other kinds of instruments. Thanks to the efforts of various groups try-ing to increase personal financial literacy, there is a sort of an in-creased interest, especially among the young professionals and over-seas Filipino workers, to invest.

Likewise, the high returns of the stock market in the last five years and the facility offered by online investment brokers further encour-aged many to invest. At the high-est point of the Philippine Stock Exchange (PSE) last year, the local participation has started to match foreign buying in the market.

This was a critical point because of the foreign dominance dictating the direction of the market with a ratio of about 65 to 35 in the past. However, once it was clear that the US will begin to hike interest rates, foreign funds started to move out, tracking the decline from the all-time high. From henceforth, foreign participation have redomi-nated the market, making the locals take a wait-and-see attitude.

In the briefings we have given, I have observed that many new in-vestors have entered into the mar-ket in the last five years. Most have not experienced a “bear” market. In our recent Eagle Watch briefing, we have emphasized that financial markets are not exempt from the natural business cycle.

Meaning, there will be natural ups and downs. Hence, the strategy for accumulation in a bear market is for selective buying of economic growth-linked firms. It is interest-ing to note that the average reve-nue and net-income growth of the index firms in the PSE for the last six years coincided with the average GDP growth in the same period of about 6.3 percent. This means that listed firms are actually reflecting the capacity of the economy. Al-though these do not reflect market growth, they provide a shadow po-tential of the fundamental growth of the market. In a longer-term in-vestment perspective, the market can reflect this growth, albeit not in a straight-line perspective.

Moreover, the alternative in-vestment options of low-risk savings and time deposit accounts continue to yield just below 1-per-cent gross annual interest rate. Yet, a considerable sum of resources are just parked in these instruments. We estimated from Bangko Sentral ng Pilipinas data that the combined amount of resources from these two banking instruments is about 40 percent of GDP as of end-2015, expanding by 7 percent from end-2001. It might be surprising to note

also that for the same period, the loans to private sector-to-GDP ra-tio has actually fallen from 44 per-cent in 2001 to 36 percent in 2014. This implies that the banking sys-tem remains highly liquid and has the potential to support not only the stock market, but the needs of the economy in general. There is enough resources to fund infra-structure growth in the future! More important, a recent World Bank report reveals that only 20 percent of Filipinos are saving and only 10 percent have bank accounts. This means that the 40 percent of GDP in banks are owned only by 10 percent. There is still a lot of room for those nonbanked to enter into the formal financial system and provide further investable funds. Hence, it should not come as a sur-prise that a large amount of money is also lost to scams and other Ponzi-type schemes annually.

Under these conditions, the po-tential for market growth in the next five years remain positive. There are a lot of opportunities for the financial markets, not only the stock market, to grow. This is not dependent on whoever wins in the coming elections. Hence, what may be important for young and new in-vestors at this time is to study and understand the workings of the economy in a broad sense and how these connect to the financial mar-kets. At the broader perspective, it would be imperative for the incom-ing administration to look closely at additional financial inclusion strategies to increase the number of people having bank accounts and finding new means to expand per-sonal financial literacy. The private sector, through the financial insti-tutions also has to play a role of pro-viding options of investments that are easy to understand and attuned to the financial culture of Filipinos. As the Philippine society matures, it will not be surprising to see our office janitor monitoring his or her mutual-fund investment as he or she takes his or her coffee break.

B V BEuropean Commissioner for Transport

AVIATION is a strong driver of growth, jobs, trade and mobility for the world’s economy. The Eu-

ropean Union (EU) was one of the first markets to be fully deregulated in the 1990s and owes this to its success. As a re-sult, European aviation today represents 26 percent of the world market, contrib-utes €110 billion (P5.890 trillion) annu-ally to Europe’s GDP, and directly employs 2 million Europeans. As for consumers, they now benefit from lower fares, more choice and better connections. This is why I am following with great interest the process within the Association of South-east Asian Nations (Asean), to create a single aviation area, and I am convinced that it would lead to a boom similar to what the EU experienced.

The rapid economic growth of Asia is already pulling the world economy’s cen-ter of gravity, and the air transport indus-try that serves it, to the East. The Asia-Pacific region will account for around 40

percent of the world air traffic in 20 years and demand for air transport between the EU and the Asean region is booming. The air traffic between the two regions has grown by more than 75 percent over the past 10 years. These figures clearly illustrate the need for the EU and Asean, to strengthen our aviation relations, as our two markets represent a combined population of 1.1 billion.

That is why in December 2015, the Eu-ropean Commission adopted a new avia-tion strategy where we propose to nego-tiate the first-ever bloc-to-bloc aviation agreement between the EU and Asean. Such agreement would be an important building block in our ambition to bring the EU-Asean overall relationship to a higher level. This new partnership would improve mutual market access, provide investment opportunities and foster regulatory cooperation. In particular, it will create commercial opportunities for enhancing direct flights between Europe and Asean destinations, such as Singa-pore. Demand for air travel between the EU and Asean may be growing, but nearly

all of it is currently channelled through indirect routes—notably through the Gulf, with neither European nor Asean carriers benefiting from it.

I therefore hope to be in a position to soon start negotiations, which is why I will travel to Singapore to directly dis-cuss the matter with Asean Transport ministers, who are gathered there for the Aviation Leadership Summit.

This approach has proved to be a win-win situation in the past. With the US and Canada, the number of pas-sengers increased by 3 million; with Morocco, the number of direct routes increased by 87 percent; and with the Western Balkans, the number of sched-uled airlines increased by 59 percent. As we know, more traffic means more jobs and more wealth. Evidence also shows that better connectivity leads to more trade and is a major determinant in the location choices of large firms’ headquarters.

While air-traffic growth offers tre-mendous economic opportunities, it poses an increasing challenge to the

environment. According to the Interna-tional Civil Aviation Organization (Icao), emissions from aviation are forecast to grow by at least 63 percent by 2020 com-percent by 2020 com- by 2020 com-pared to 2006. According to the United Nations Office for Disaster Risk Reduc-tion, over the past 20 years, the Philip-over the past 20 years, the Philip-the Philip-pines was fourth in the world among countries hit by the highest number of natural disasters, the majority of which were weather and climate related. At the 21st Conference of Parties in Paris, both the EU and the Philippines, through its chairmanship of the Vulnerable Forum, played an instrumental role to broker an historic deal, which gave the world a lifeline and I hope that we will now be able to build on this momentum. This year we will be working closely with Icao on two ambitious global measures. The first is an unprecedented standard to cap CO2 emissions, which will push industry to be as fuel-efficient as pos-sible. The second is a global mandatory system to offset aviation emissions, to stabilize emissions from 2020 in a cost-effective manner.

Why deepening EU-Asean ties in aviation is a win-win situation

BLOOMBERG VIEWClive Crook

Source of basic data: BSP

The potential for market growth in the next five years remain positive. There are a lot of opportunities for the financial markets, not only the stock market, to grow. This is not dependent on whoever wins in the coming elections. Hence, what may be important for young and new investors at this time is to study and understand the workings of the economy in a broad sense and how these connect to the financial markets.

NewsBusinessMirror [email protected] Saturday, February 13, 2016 • Editor: Dionisio L. Pelayo

Quezon City treasurer sackedover seedling bank’s closure

B J M N. C

THE Ombudsman recently ordered the dismissal from the service of the Quezon City treasurer, after he

was found guilty of oppression.

In a statement, Ombudsman Conchita Carpio-Morales said the dismissal from the service of Quezon City Treasurer Edgar Villanueva was prompted by an investigation into the imposi-t ion and assessment of real-property taxes against the Ma-nila Seedling Bank Foundation Inc. (MSBFI) in 2011.

Aside from the dismissal order, Morales said Villanueva was also perpetually disqualified from holding public office with can-cellation of eligibility. His retire-ment benefits were also forfeited.

In case of separation from the service, the penalty is convertible to a fine equivalent to Villanueva’s salary for one year, she added.

Morales said that in May 2011, Villanueva issued a Statement of Delinquency against MSBFI for unpaid real-property tax liabili-ties totaling P42.8million.

“One month later, in June 2011, the Final Notice of Delinquency and Warrant of Levy were issued. In July 2012 MSBFI was direct-ed to immediately vacate the premises. Its premises and gates were padlocked by Quezon City

officials,” Morales added.In its complaint, MSBFI said

the property is owned by the Nat iona l Housing Aut hor it y (NHA) and that it received no Notice of Assessment for the tax liability.

“In enforcing col lection of taxes against MSBFI without the required notice of assess-ment, Villanueva denied MSBFI its right to due process, which consists [of ] the oppor tuni-ty to avail [itself] of the rem-edy provided under the [Local

NGCP goes to court to have sabotaged electricity transmission tower repaired

AL AWM AKER on Fr iday asked the public to heighten vigilance and remain alert

against all forms of election fraud.This, after the Commission on

Elections (Comelec) admitted that errors were found in the source codes of the consolidation and can-vassing system (CCS) and the vote-counting machines (VCMs) that Filipino voters will use this May.

Party-list Rep. Terry Ridon of Kabataan said the Comelec has been notified by SLI Global Solu-tions Inc. of “compatibility prob-lems” with the CCS, resulting in the postponement of the scheduled transfer of the source codes to the custody of the Bangko Sentral ng Pilipinas on Monday.

“Errors were also found in the VCMs, which posted 1-percent to 2-percent rejection rates. The Comelec explained that during the testing of the VCM, it was found that it was overly sensitive and could detect even small ink spots, causing the machines to reject the

ballots,” Ridon said.“With about 52.2 million regis-

tered voters, a 1-percent to 2-per-cent rejection rate translates to about 520,000 to more than a mil-lion rejected votes, a significant fig-ure that can make or break anyone’s candidacy. If this is not addressed, it can be exploited by unscrupulous officials to commit electoral fraud,” Ridon added.

As this developed, the camp of Sens. Grace Poe and Francis Escu-dero asked the Comelec to hold a dialogue with stakeholders to dis-cuss the status of the preparations for the May 9 polls, amid negative reports on the results of its initial testing of the VCMs.

In a letter to the Comelec, George Garcia, the election lawyer of the Poe-Escudero tandem, said such dialogue would address concerns over glitches in the VCM system, as well as other poll-related issues that may hurt the credibility of the electoral exercise.

Ridon asked the Comelec to step

up its transparency campaign and not leave the public in the dark about the “finer details” of the automated election preparations.

“The Comelec said it is ‘fine-tuning’ the automated election system, yet we are not sure whether the poll body is actually fine-tuning an orchestrated automated fraud,” he said.

“We call on the general public to heighten vigilance and call out each and every suspicious move that the poll body does. Let us protect the sanctity of the ballot and not let any-one succeed in committing massive electoral sabotage,” Ridon added.

Earlier, Elections Commissioner Christian Robert Lim said the poll body postponed the ballot printing to February 15 because of this com-patibility problems.

Printing of election ballots was originally scheduled on February 8.

Lim also expressed concern that the elections may be postponed owing to these delays. Butch Fernandez and Jovee Marie dela Cruz

B L L

THE National Grid Corp. of the Philippines (NGCP) is seeking legal remedy to be

able to repair a bombed transmis-sion tower in Mindanao.

On Friday the grid operator said it filed a civil case requesting for the issuance of a writ of pre-liminary injunction or temporary restraining order (TRO) or both against the Sambitory family, the claimants who refused the grid operator entry to their property to repair Tower 25 of the Agus 2-Kibawe 138-kiloVolt (kV) line.

Tower 25 was bombed on De-cember 24, 2015, rendering the Agus 2-Kibawe 138-kV line non-operational. Since then, two hydro-power plants—Agus 1 and Agus 2—both connected to the grid through the said transmission line, have been isolated, further strain-ing the power-supply situation in Mindanao.

In a complaint filed with the Regional Trial Court (RTC) in Marawi City, NGCP asked for the issuance of writ of preliminary injunction and/or TRO to “com-pel the defendants [the Sambitory family] to cease from committing acts that prevent plaintiff NGCP from entering the property.”

The grid operator said it cannot perform its mandate to maintain, rehabilitate, repair and refurbish the damaged transmission facili-ties if the family continues to re-fuse them access to the damaged tower, stating that this “will result in the shortage of power supply on the island of Mindanao and the disruption of public service due to massive blackouts and power interruptions.”

NGCP has been in talks with the family, together with La-nao del Sur Gov. Mamintal Adi-ong, National Power Corp. and National Transmission Cor p. (TransCo), to grant the former access to the tower site for the repair of the bombed structure.

The family seeks the pay-ment of P40 million, which is to be settled by TransCo, the gov-ernment entity which owns the transmission assets.

“We are hoping for the fast resolution of the RTC on this matter, so we can start repair-ing Tower 25. We also hope that the Sambitorys and TransCo will reach a settlement soon. NGCP is ready to repair as soon as access

is granted,” the company said in a statement.

NGCP stressed that the bomb-ings and right-of-way (ROW) vio-lations only serve to increase the burden of the public, which must suffer through service interrup-tion. The company also warned that these problems may cause power-supply deficiency during the 2016 elections.

“We appeal to local community leaders to help us monitor the safe-ty of the towers and to negotiate with landowners.”

NGCP is a privately owned corporation in charge of operat-ing, maintaining and develop-ing the country’s power grid. It transmits high-voltage electric-ity through “power superhigh-ways” that include the intercon-nected system of transmission lines, towers, substations and related assets.

The consortium, which holds the 25-year concession contract to operate the country’s power-trans-mission network, is comprised of Monte Oro Grid Resources Corp., led by Henry Sy Jr.; Calaca High Power Corp., led by Robert Coyiuto Jr.; and State Grid Corp. of China, as technical partner.

An interagency task force was earlier created to address the grow-ing concern on the transmission-tower bombings and ROW issues in Mindanao.

The Department of Energy (DOE) heads the task force, and is directed to report to Presi-dent Aquino on its progress on a weekly basis.

Energ y Secretar y Zenaida Monsada emphasized that trans-mission and distribution facili-ties are critical infrastructures in delivering electricity to the end-users.

“We have to work all together, both the Mindanaoans and indus-try participants, as there can be no development without power or stable power fuels development,” she said.

Monsada added that the gov-ernment is seeking all legal re-course following the persistent concerns compromising the coun-try’s power facilities.

In this regard, the legal subtask group will explore and exhaust all legal remedies available to ensure that any actions taken by the Inter-Agency Task Force for the Security of Energy Facilities are within the bounds of the law.

Legislator warns people against election fraud

THE stage is being set for the third and last Shell Eco-marathon Asia in

Manila this year, and once more, volunteer organizers are ensuring that preparations proceed as planned, just like last year, when close to 200 teams of engineering students from all over the region came together to design, build and run their very own energy-efficient vehicles of the future.

These volunteers ensure that everything runs smoothly, from media broadcasting to technical inspections on the racetrack, including the basic but critical tasks of herding student teams through the series of weeklong activities and events.

Last year three particular volunteers forged a bond over a common passion for building a more progressive and sustainable future of energy. Ho Li Ling from Malaysia, Randy Galang from the Philippines and Foo Shiwei from Singapore stood out because of their keen interest in learning more about Shell ’s energy advocacy and in strengthening their professional networks across the regional Shell business.

Shell employees Ho and Galang were official Shell ambassadors at the Eco-marathon Asia event, while Foo was starting his senior year in mechanical engineering at Nanyan Technological University after having been part of the school’s eco-marathon team that previously won two off-track awards in safety and technical innovation.

After the experience of being part of the Shell Eco-marathon Asia in early 2015, they met again in Singapore in June, visiting Shell ’s innovative Pulau Bukom Manufacturing Site (PBMS), where Foo became an intern at the piping and inspection services division.

The group also toured Shell Jurong Island with fellow Shell Eco-marathon Asia 2015 volunteers Ren Yong, who is a senior engineer and colleague of Foo at PBMS, and Lim Weison, a plant engineer for routine maintenance at SJI.

The Shell Eco-marathon Asia will be held in Manila for the third and final year from March 3 to 6.

THE Depar tment of Publ ic Works and Highways (DPWH) advised the public to anticipate

heavy-traffic buildup at the Ninoy Aquino International Airport (Naia) Expressway’s Villamor Air Base Sec-tion on Sales Road, Pasay City, owing to connection works being done for the ongoing Naia Expressway Proj-ect Phase II.

Starting Saturday, civil-works con-tractor D.M. Consunji Inc. will start test-pitting activities from Piers 1 to 18 to connect the Naia Expressway Phase II project with the existing Phase I.

Public Works Secretary Rogelio L. Singson advised the public, es-pecially those going to the airport terminals, to plan their trips and be aware of the traffic conditions and alternative routes to take as possible contingencies.

A traffic-management plan, which includes the use of 10th Street and 14th Street in Pasay City as alternate routes of motorists in going to Sales Interchange from Andrews Avenue, was approved by the Metropolitan Ma-

nila Development Authority (MMDA).In addition, the DPWH, together

with concessionaire San Miguel Corp., through its subsidiary Vertex Tollways Development, and contractor DMCI have also requested the assistance of the MMDA, Skyway O&M Corp., Pasay Traffic Bureau, Barangay 183 of Pasay City and Villamor Air Base to help manage traffic, especially at the rotunda of Domestic Road corner Andrews Avenue.

The P15.86-billion Naia Express-way project, which is under the private-sector financing as part of the Aquino administration’s Public-Private Partnership Program, is a four-lane, 7.15-kilometer elevated expressway that aims to provide easy access to and from the three Naia ter-minals, and link the Skyway and the Manila-Cavite Expressway.

The project will also interconnect the South Luzon Expressway Skyway to Cavitex, Macapagal Boulevard and the Entertainment City of state-run Philippine Amusement and Gaming Corp. PNA

B R A

ABU Sayyaf bandits are demanding P1 billion for the release of three

foreigners and the Filipino woman they k idnapped in September last year.

Senior Supt. Roberto Fajardo, National Police Anti-Kidnapping Group (AKG) commander, said the victims were abducted on Samal Island, Davao del Norte.

Norwegian Kjartan Sekking-stad and Canadians John Rids-del and Robert Hall, and Hall’s Filipino girlfriend Maritess Flor were still being held by the bandits in a still-undisclosed area in Sulu.

“They [victims] are still with the Abu Sayyaf. The problem is the Abu Sayyaf has no ideology and they are asking for money, which is very impossible, re-ally, P1 billion; so that is the problem,” Fajardo said during the anniversary of the AKG on Friday.

Fajardo also disclosed that the leader of a kidnap-for-ran-som group, who is already held

at the maximum-security com-pound in the New Bilibid Prison, appeared to have not abandoned his criminal activity, as he was even involved in the negotia-tions of one incident.

“What is bad is, there was even a kidnapper who is negoti-ating, although he was already behind bars;, he is at Bilibid,” Fajardo said, refusing to iden-tify the kidnap leader or even his group, or even the particu-lar incident.

“We have a good coordination with the director of the Bilibid, but despite that, the kidnappers’ operations inside the prison were continuing,” he said.

Fajardo said kidnapping cas-es in the country have already declined, principally because kidnap victims were already cooperating with authorities.

He said that before, victims were afraid to seek the assis-tance of the police and even re-fuse to cooperate in the filing of their cases, thus, embolding kidnap-for-ransom groups to keep on with their activity.

“The cases have gone down,

because the v ictims them-selves are already cooperating,” Fajardo said.

Sti l l, the AKG listed six kidnapping cases, but Fajardo said most of these cases were recorded in Mindanao, with the ASG being the most prominent kidnapping group, holding at least eight victims.

Teresita Ang See, founding chairman of the Movement for Restoration of Peace and Order, agreed that the country has seen the decline of kidnap-for-ransom cases.

“There was really a big im-provement in the antikidnap-ping campaign, especially when it comes to the success of man-hunt operations, the biggest kidnap-for-ransom group has been neutralized,” she said.

However, Ang See said her group recorded successive cases last month, although the AKG has already investigated them.

“In January we had three cases. One in Metro Manila and two in Tarlac,” she said, adding that last year, they recorded more than 30 kidnapping cases.

Volunteers prepare for Manila eco-marathon

DPWH: Constructionto cause heavy trafficat Naia Expressway

MORALES: “One month later in June 2011, the Final Notice of

Delinquency and Warrant of Levy were issued. In

July 2012, MSBFI was directed to immediately vacate the premises. Its

premises and gates were padlocked by Quezon

City o�cials.”

Abu Sayyaf bandits demand ₧1Bfor 3 foreigners, Filipina captives

Government Code],”Morales said.“Absent such prior notice of as-

sessment, the Warrant of Levy is-sued to MSBFI and the succeeding auction sale conducted by the city treasurer had no legal mooring,” she also said.

According to Morales, Vi l-lanueva gravely abused his au-thority in the discharge of his official duties when he enforced taxes without prior notice of assessment.

“Any injury sustained by MSBFI as an offshoot of the flawed tax enforcement would be undue and unwarranted for lack of legal basis on the part of the city treasurer to demand payment,” she said.

“Even assuming that MSBFI is liable for real-property taxes, the [Office of the City Treasur-er] may not validly levy and sell the property since it is owned by a government entity [the NHA] exempt from taxes,” the Ombudsman added.

SportsBusinessMirrorA7 | SATURDAY, FEBRUARY 13, [email protected]@businessmirror.com.phEditor: Jun Lomibao

VICTORY PARTY Players, coaching staff, team personnel and supporters of San Miguel Beer strike a pose during the Beermen’s victory party, for winning the Philippine Basketball Association Philippine Cup in historic fashion, on Thursday night at the San Miguel Corp. headquarters at the Ortigas Center in Mandaluyong. The Beermen clawed back from a 0-3 deficit against Alaska to win the title. NONOY LACZA

THE heroes and stars of Philippine sports in 2015 get their well-deserved recognition tonight when the Philippine Sportswriters Association (PSA) holds its traditional Annual

Awards Night, presented by Milo and San Miguel Corp.

Two world boxing champions and a rising golf star who scored a breakthrough win in the Asian Tour lead a long list of awardees to be feted at the One Esplanade in Pasay City.

World Boxing Organization (WBO) super-

bantamweight titleholder Nonito Donaire Jr., longtime WBO light-flyweight titlist Donnie Nietes, and Philippine Open champion Miguel Tabuena lead the two-hour program on the eve of Valentine’s Day as cowinners of the prestigious Athlete of the Year award by the country’s oldest media organization, headed by its president Riera Mallari, sports editor of The Standard.

It will be the fourth Athlete of the Year award for the 33-year-old Donaire, having won the trophy in 2007, 2011 and 2012,

while Nietes, 33, and Tabuena, 21, are first-time winners of the award solely handed out by the sportswriting fraternity to deserving Filipino athletes.











JUST when the rest had virtually conceded the International Container Terminal Services Inc. (ICTSI) Anvaya Cove Invitational crown to

Miguel Tabuena, veteran Tony Lascuña knocked in one solid, fiery round in the wind that reminded everyone that all is not lost.

In fact, he put himself in a position to win.Lascuña recalled his fierce fighting form and

shot a bogey-free seven-under 65 then watched Tabuena crumble at the finish for a 77, turning an eight-shot deficit into a four-stroke lead in the most stunning one-day reversal involving marquee players in the seven-year history of the ICTSI Philippine Golf Tour.

“My driving and irons clicked even at the tougher backside,” said Lascuña, who spiked his stirring round with an eagle on the par-5 10th, his 33-32 card giving him a 54-hole aggregate of 11-under 205.

Lascuña’s 65 fell short of Tabuena’s record-setting 62 on Wednesday but it proved enough to lift him from eight back to four-up heading to the final 18 holes of the P3.5-million championship sponsored by ICTSI and organized by Pilipinas Golf Tournaments Inc.

Tabuena, who led Jay Bayron by six in the first two days and Lascuña by eight halfway through, actually bounced back from an awful 40 start with back-to-back birdies from No. 10 to negate Lascuña’s eagle and keep a one-stroke edge. But Lascuña birdied Nos. 13 and 16 to move ahead then went four-up after Tabuena dropped three shots on the par-4 17th on an errant drive in an unlikely foldup for a young player who dominated the elite field with his


























DE LA SALLE tries to get back on the winning track when it battles Adamson University on Saturday in the University Athletic

Association of the Philippines Season 78 women’s volleyball tournament at the Filoil Flying V Arena.

The Lady Archers, who bowed to the National University Lady Bulldogs, 16-25, 24-26, 25-14, 23-25, last Wednesday for their first loss in three matches in the season, face the Lady Falcons (1-1) at 2 p.m.

University of Santo Tomas (0-2) and Far Eastern University (1-1) square off in the other

women’s match at 4 p.m.Men’s action pits UST (0-2) against University

of the East (0-3) at 8 a.m. and University of the Philippines (1-1) against league-leading NU (2-0) at 10 a.m.

In men’s football, FEU eyes its second win opposite Ateneo at 1 p.m., and so will UP against De La Salle at 7 p.m., at the McKinley Hill Stadium in Taguig City.

In women’s action, FEU opens its quest for a third straight crown against opening-day winner De La Salle at 3 p.m. Lance Agcaoili

THE 91st National Collegiate Athletic Association beach

volleyball tournament has turned into a brothers and sisters affair.

This, after the Taneo siblings, Relan and Rey Jr., of University of Perpetual Help, and twins Maria Jeiziela and Maria Nieza Viray of San Beda downed their respective foes to stretch their unbeaten streak to six in beach volley action at the Boardwalk of Subic Bay in Zambales on Friday.

The Taneos overpowered Mapua’s Philip Michael Bagalay and Samuel Joseph Almales, 21-15, 21-19, in a duel of undefeated squads to jump to the top of the men’s division.

The emphatic triumph pushed the Las Pinas-based school a win away from clinching a Final Four berth.

A sweep will catapult the Taneo pair straight to the finals and a

triumph away from reclaiming the championship Perpetual Help lost to College of Saint Benilde last season. It will also turn the Final Four into a stepladder semifinals.

“We’re starting to feel it,” said Rey, the elder of the Taneos, in Filipinos.

The Virays, on the other hand, overcame Letran’s Julia Angeles and Regielyn Cabrera, 25-23, 21-13, to also remain unbeaten in six matches in the women’s section.

Just a game behind the Virays were San Sebastian’s Gretchel Soltones and Dangie Encarnacion, the reigning back-to-back champions who slammed Saint Benilde’s Jannine Navarro and Melanie Torres with a vengeful 21-13, 21-14 win.

Soltones and Encarnacion improved to 5-1 (win-loss), which was good for joint second with their recent conquests, Navarro and Torres.

JULIUS NON set out for another big weekend against a crack international field out to foil his back-to-back title bid as action in the

third leg of the International Container Terminal Services Inc. (ICTSI) Philippine Kiteboarding Tour Season 3 got under way on Friday in Anguib, Santa Ana, Cagayan Valley.

Non, the pride of Soloviento, Caliraya, marked his return to the kiteboarding scene in emphatic fashion in Boracay last month, flaunting a near-flawless riding skills to beat Bong Fernando, Ronnel Mateo and former winners Doque de los Santos and Christian Tio for the men’s Twin Tip crown.

But his rivals are all geared up to foil his repeat bid, ensuring a thrilling battle for top honors in the three-day event, sponsored by International Container Terminal Services Inc. and organized by the Philippine Kiteboarding Association. The Red Bull-backed Tio, however, won’t be around due to a death in the family.

But the title chase is expected to be as fierce as ever along with those in the categories with a number of top European riders joining the event, backed by Cabo Engano, NCGAC, Ceza, NPR, CGAL, Ropali, Construcao, Saharra, Delimondo, SIA, First Cagayan, SunCity, Ikimoto, XTD, LGU Santa Ana, Yashiromaru and Meridien Vista.

Lisa Nikitina of Russia also seeks to defend not just one crown but two, including the Twin Tip and Freestyle but the Russian rider braces for a tough outing this time, against the likes of Germans Kathrin Bogwardt and Franziska Limmer, Viola Kaukonen of Finland, Julia Castro from Denmark, and local bets Mary Jane Gajisan and Liezl Tio.

Aside from Twin Tip and freestyle play for both men and women, the event, the penultimate leg of a four-stage circuit, will also showcase adrenaline-filled competition in the race category for men, women and Masters (40-above) and novice.

IT’S going to be a long, difficult journey for RC Cola-Army when it marches back to the Philippine Superliga (PSL) for the 2016 PSL

Invitational women’s volleyball tournament on Wednesday at The Arena in San Juan.

The Lady Troopers, winners of the league’s first three titles before taking a three-conference hiatus, are expected to have their hands full when they battle a competitive field composed of taller, younger and more aggressive players in the top-tier tournament to be aired live over TV5.

“It’s now an entirely different ball game,”

RC Cola-Army Coach Emilio “Kungfu” Reyes said. “Yes, we dominated the league, but that was three years ago. A lot of things already happened, a lot of young players got stronger. We’re not really sure if we can still win the way we used to be.”

Reyes added that they will be walking wounded as his prized setter, 39-year-old Tina Salak, is not in perfect shape while other seasoned spikers—37-year-old Michelle Carolino, 32-year-old Mary Jean Balse-Pabayo and 34-year-old Joanne Bunag have also showed signs of slowing down.

That, however, opens the door for other stars, like Jovelyn Gonzaga, Honey Royse Tubino, Tin Agno and Rachel Anne Daquis, to shine. “Tina’s not in hundred percent. Her knees are already bothering her,” said Reyes, who also calls the shots for University of Santo Tomas in the University Athletic Association of the Philippines.

Reyes said Foton will be a team to watch out for, as well as Petron and newcomers San Jose Builders and F2 Logistics, which will parade former De La Salle stars Cha Cruz, Paneng Mercado and Chie Saet.

OKLAHOMA CITY—Playing with a heavy heart a night after the wife of Assistant Coach Monty Williams died,

Russell Westbrook led Oklahoma to a 121-95 victory over New Orleans on Thursday.

Ingrid Williams was involved in a car crash on Tuesday in Oklahoma City and died on Wednesday. A moment of silence was observed by both teams who had ties to the couple. Monty Williams coached the Pelicans last season before coming to Oklahoma City to help new coach Billy Donovan.

Westbrook had 23 points, 10 assists and nine rebounds. Kevin Durant scored 23 points, and Serge Ibaka added 18 for the Thunder. They have won 14 of 16 heading into the All-Star break.

Anthony Davis and Jrue Holiday each scored 23 points for the Pelicans.

Khris Middleton scored 27 points, Giannis Antetokounmpo had 17 points and 13 rebounds, and Milwaukee held off Washington, 99-92.

Middleton answered again, hitting a jumper in the lane on the next possession before setting up a drive-and-dish to Greg Monroe that gave the Bucks a 97-90 lead with 15 seconds left. Middleton tied a season high with nine assists. AP

Westbrook, OKCmourn but beatPelicans at home




LADY TROOPERS FACE TOUGH TASK AHEAD


BROTHERS, SISTERS TRIUMPH

bantamweight titleholder Nonito Donaire Jr., while Nietes, 33, and Tabuena, 21, are first-time winners of the award solely handed out by the sportswriting fraternity to deserving Filipino athletes.











Miguel Tabuena, veteran Tony Lascuña knocked in

his 33-32 card giving him a 54-hole aggregate of

setting 62 on Wednesday but it proved enough to lift him from eight back to four-up heading to the

sponsored by ICTSI and organized by Pilipinas Golf

to negate Lascuña’s eagle and keep a one-stroke


























Men’s action pits UST (0-2) against University

Philippines (1-1) against league-leading NU (2-0)





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BusinessMirror February 13, 2015