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Starting things right in the Year of the Rat

IT WILL be the Year of the Metal Rat in the Chinese Zodiac starting on the Lunar New Year (Jan. 25). BusinessWorld, attending a luncheon at the Marco Polo Ortigas last week and got this year’s lucky feng shui forecast from geomancer Master Hanz Cua.

Because the Year of the Rat is the first sign in the Chinese zodiac (legend says that the rat won a race organized by the Jade Emperor), the Year of the Rat augurs a “year of new beginnings and renewals.” “Long term projects have great chances of being satsified in the future,” said Mr. Cua in a presentation.

As for people born under the Year of the Rat (1936, 1948, 1960, 1972, 1984, 1996, 2008, and 2020), Mr. Cua predicts that their lucky direction is in the Northeast, their lucky number is eight, and their lucky colors are white and beige. Their lucky months are in April, October, and December, and their unlucky month is in September.

He says that those born under the sign of the Rat need to be careful with misunderstandings with clients or bosses, to avoid lawsuits, and warns against poor career advancement, and borrowing money and placing themselves in debt. As for their health, Mr. Cua warns against low energy, liver and gallbladder-related illnesses, injuries to the foot and the arm, exerting themselves too far in physical activities, and knowing their limits when it comes to food.

As for their relationship luck, Mr. Cua warns against rushing into decisions lest couples separate; but says that relationships can be harmonious if they pay attention to their partner’s needs. Singles, meanwhile, need to be more patient in finding the right partner.

Here are Mr. Cua’s predictions for the rest of the Animal signs in the Chinese zodiac:

Ox
(1937, 1949, 1961, 1973, 1985, 1997, 2009)
Lucky directions are the Northeast and Southwest; lucky numbers are 12 and 18, and their lucky colors are pink, yellow, green, and orange. Lucky months are in January, September, and November; an unlucky month is May.

For wealth luck, innovation is encouraged in business, as it will lead to success. Fame and recognition in their career, along with an expansion in business is predicted, but Mr. Cua warns against joining a new venture. When it comes to health, improvements in their conditions related to the kidneys, the ears, and the reproductive and lympathic system can be seen on the horizon. Energy and possibilities will seem endless, possibly related to a recovery from a previous illness.

The Ox will have luck in finding new relationships, and 2020 is a good year for pregnancy and fertility, marriages, and strong bonds between current partners — if they can prevent being attention-seeking and being clingy.

Tiger
(1926, 1938, 1950, 1962, 1974, 1986, 1998, 2010)
Lucky directions are in the East and South, lucky numbers are 15 and seven, and lucky colors are green, yellow, and peach. Lucky months are in February, March, and September, and an unlucky month is set for October.

This year promises a good fortune in career and business, and finding more opportunities in forging connections and networking. A Tiger will find support from a higher-up, but must be careful for a coming minor money loss. Mr. Cua also advises being flexible and adaptable in terms of work and business.

Travel is advised to improve Tigers’ health conditions, so long as they watch out for STDs, diabetes, and ear infections. To keep the mind nimble, lessen the use of gadgets, keep the mind active, and read more.

Singles need to mingle, and a reconciliation in relationships are afoot, due to a strong love star. For the Tiger, there will be a desire to be more independent and dominant.

Rabbit
(1927, 1939, 1951, 1963, 1975, 1987, 1999, 2011)
Lucky directions are in the Northwest and Southeast, lucky numbers are 11 and 3, and their lucky colors are pink, white, and blue. Lucky months are in March, July, and November, and January is a bad month for the Rabbit.

You’ll need a lot of motivation to achieve a goal, despite many obstacles — which will include stagnant career development, and a possible failure in business and investments. Don’t quit — Mr. Cua does not advise changing work.

You will also need to exercise and get into sports, and take care from exhaustion in the daily grind. Pregnant women should be careful with regards to miscarriages, and you’ll need more sleep. Meditation might help.

Rabbits might have relationship problems stemming from distrust, and a difficulty in maintaining long-distance relationships. This will lead to misunderstandings and arguments, and the rabbit should not be stubborn and unreasonable.

Dragon
(1928, 1940, 1952, 1964, 1976, 1988, 2000, 2012)
Lucky directions are in the North and South, lucky numbers are three, seven, and nine, and lucky colors are gold, yellow, and violet. Lucky months are in July, October, and November; tread carefully in September.

Dragons can expect a windfall, perhaps due to a career promotion (influential friends might be able to help in this regard, among other matters). Mr. Cua advises reading contracts thoroughly and staying within the bounds of the law.

The Dragon needs to take care of their lungs, large intestine, and bones, and is advised to achieve a better work-life balance (try out new activities while they’re at it), and to remain calm in stressful situations.

Single Dragons might find the love of their life in a new acquaintance, and marriages will improve and become more romantic (just prevent your jealousy from showing).

Snake
(1929, 1941, 1953, 1965, 1977, 1989, 2001, 2013)
Lucky directions are in the North, Northeast, and Southwest; lucky numbers are five, 13, and 19, and lucky colors are silver, aqua, orange, and pink. Lucky months are in March, July, and November, but there’s an unlucky October.

New opportunities at work, and a business expansion is foretold, but be careful of accidents (broken bones are a particular concern), and watch out for constipation and pneumonia.

It’s a good year for Snakes to find a love partner, and a Snake’s kindness will find itself coming back to them. This is possible if one lowers their pride and ego for more harmonious relationships.

Horse
(1930, 1942, 1954, 1966, 1978, 1990, 2002, 2014)
Lucky directions are in the Northwest, Northeast, and the West; lucky numbers are nine, 11, and two, and lucky colors are yellow, silver, green, and beige. Lucky months are in April, August, and January — and definitely not October.

It is advised not to be aggressive in business dealings and changing careers, and it is also advised to choose safe investments and avoiding risky deals — one should also be careful of backstabbers.

Fatigue is expected, despite high levels of energy. A Horse is advised to take care from accidents and miscarriages, and poor health in the abdomen and the digestive system might be an issue.

A Horse will need a clear mind when it comes to relationships, which will prevent rash decisions. This will come in handy when one feels bored in a relationship, which needs spicing up from new activities. Lone horses — well, might remain alone.

Sheep
(1931, 1943, 1955, 1967, 1979, 1991, 2003, 2015)
Lucky directions are in the Southwest, West, and Northwest; lucky numbers are six, two, and 15, and lucky colors are brown, orange, green, and white. Lucky months are in March, July, and September — October seems to be a bad month for most people.

Place money in long-term investments, and invest time in attending events and seminars. Always have a backup plan, and be careful in cheating and betrayal in business — this can lead to recognition and promotion to a higher place at work.

Speaking of higher places, you might be prone to accidents and injuries from high places. Watch out for injuries in the arm, leg, and head, as well as lung diseases. Avoid watersports, and don’t overwork your body.

In love, the Sheep should keep communication lines open, and avoid third parties in relationships. Avoid office romances, especially since it’s not a good year to enter a new relationship (no news on if it’s any good to rekindle an old one).

Monkey
(1932, 1944, 1956, 1968, 1980, 1992, 2004, 2016)
Lucky directions are in the Southeast, Northeast, and the North. Lucky numbers are three, six, and 12, and lucky colors are maroon, silver, and beige. Lucky months are in March, February, and November and an unlucky month is set for April.

A monkey should focus more and avoid distractions — an opportunity abroad might beckon. If not that, you’ll at least have luck in the import-export business, as well as in food.

Take care from breast cancer, asthma, and heart problems; exercise more, and don’t forget to drink your water.

Monkeys should avoid scandal because of opportunities for finding a soulmate, charming a partner, or even a marriage.

Rooster
(1933, 1945, 1957, 1969, 1981, 1993, 2005, 2017)
Lucky directions are in the West, the North, and Northeast, and lucky numbers are nine, five, and 12; lucky colors are in shades of red, brown, pink, and blue. Lucky months will be in February, July, and September, and there’s an unlucky month in December.

Looks like there’s strong wealth luck for the Cock, as well as opportunities abroad. The Rooster should take care to donate to charity, and building an emergency fund.

A Rooster should take care with regards to eye diseases, heart attacks, and their blood pressure problems. They should remain active, and eat their vegetables — and maybe prepare for surgery.

The Rooster will be cocky (as expected), with a high self-confidence that might lead to affairs for singles (couples are warned against infidelities too, so there’s that). Conflicts may arise with family this year.

Dog
(1934, 1946, 1958, 1970, 1982, 1994, 2006, 2018)
Lucky directions are in the Northwest, East, and West; lucky numbers are eight, one, and 16, and lucky colors are gold, red, and yellow. Lucky months are in April, August, and November, and an unlucky month is in July.

Dogs are told not to abuse their power, despite an increase in fame and recognition. Practice contentment and abstain from greed — it’s a five-star year with regards to wealth, and it’s good for Dogs to purchase property this year (unnecessary expenses are not advised).

Listen to your doctor, watch your food and drink, and you’ll have “oral problems,” so might as well watch your vices like smoking and drinking.

Dogs should be attentive to their partner’s needs (this goes for everyone), and you can expect support from your partner. For singles, we’re looking at a short-term fling, coming from a love-at-first-sight encounter.

Pig
(1935, 1947, 1959, 1971, 1983, 1995, 2007, 2019)
Lucky directions are in the Southeast, East, and Northwest; lucky numbers are seven, five, and 19, and lucky colors are blue, green, and red. Lucky months are in February, June, and September; January is an unlucky month.

The pig finds passion in work, and hard work from the past will come to fruition. Government projects are predicted for the Pig, as well as luck in a water-related business, possibly from predicted business opportunities from the opposite sex.

Pigs are told to abstain from mental and physical stress, and to focus on personal improvement (which includes not staying up late at night). Diabetes, allergies, and back pain are predicted for the Pig.

Pigs are told not to be choosy and materialistic in love, and problems with partners can be resolved easily this year. Single Pigs should go out more, and a friendship might blossom into romance. — Joseph L. Garcia

Venezuela East?

Time was when the Philippines held the dubious distinction of being a “Latin American country in the East.” Its growth episodes were short and spasmodic; “boom and bust” aptly describes its longer horizon; investment was at a canter; its till was perennially made empty by waste and venality; and government encroached into the market mindlessly. That was also Latin America Post-WWII. The current development tragedy, Venezuela, is the latest and most virulent example of the Latin American disease presided over most times by populist caudillos who supplanted the imperfect market with their own populist-socialist mishmash.

Populist autocrat Hugo Chavez, riding the tailwind of the oil export bonanza, made fiscal profligacy a virtue and, for a while, Venezuela was the star of inclusion as poverty incidence fell by half. His rating was sky-high. Meanwhile he made life increasingly difficult for the market players by government takeover of oil facilities, utilities, banks and other commercial enterprises. When the world price of oil collapsed, successor Nicolas Maduro doubled down on Chavez’s policies and resorted to price controls, rationing and massive printing of Bolivar Fuerte (“Bolivar Muerte” in Caracas jokes) to support the populist entitlements. This emptied the supermarket shelves as the cumulative inflation rate went haywire — 53 million percent since 2016. In 2014 and 2015, Venezuela topped off the global misery index; worker take-home pay dropped from $360/month in 2012 to $20/month in 2018; poverty incidence rose to 76% in 2018. As hunger became the norm, Venezuelans started for the border. Caracas earned the epithet “crime capital of the world.” All the gains from 2000 and much more were lost in the ensuing two decades. The pattern on populist autocrats is reaffirmed: they buy short-term gains at the price of long-term misery.

Filipinos thought the Latin American Disease was behind us. The administration immediately preceding the current one had, for all its fumbling, managed a new normal growth: high GDP growth (6.5% on average) and with Manufacturing leading the way (7.58% vs. 6.51% on average, the latter no past administration had matched. The current regime promised to match or exceed this new normal. Its record? In the 2.75 years of the current watch, GDP growth, though still fast, has now slowed (around 6%) and Manufacturing even more so relative the Service sector (5.60% vs. 6.85%, see chart below). We hope this is just a hiccup in the new normal trajectory which is predicated on high investment rate. But with the investment environment headed for turbulence, who knows what the next three years will bring.

Since the Singapore arbitral court ruling awarding P11 billion to the concessionaires Manila Water and Maynilad, Malacañang now threatens to declare the contracts null and void and expropriate the two companies because of so-called onerous provisions. The concessionaires, under tremendous duress, offered to waive the damage award owed them. There was a rush to anoint the Malacañang for being right again. But might does not make right! Nor does a waiver make evidence of guilt! The waiver in fact, even if accepted, is a bad precedent. If the government gets away with raping the contract today, what will keep it from a repeat rape tomorrow? No PPP contract is safe. Any investment of significance can be targeted. Only the cronies will invest.

The government is now out to force feed a new contract on the concessionaires. As press reports have it, the new contract will drop the income tax holiday and the resort to arbitral courts provisions. The government says it wants to have a say on the water tariff.

But government does have a say on the water tariff within the original contract. The rate rebasing exercise every five years since 1997 is precisely to decide on tariff adjustment petitions based on performance. In 2002, the government regulator Metropolitan Waterworks and Sewerage System (MWSS) denied, on the basis non-performance on NRW (non-revenue water) performance undertaking, the petition of Maynilad, then under the Lopez group, for a tariff increase to recoup a claim of P8 billion. The Lopez group, unable to win its case in neutral venues and unable to procure further financing to meet obligations, went bankrupt in 2003. If the government backs its claim with hard evidence in an impartial court, it wins. If it only intimidates as it trifles with the rule of law, it will be rebuffed. Recall that our own Supreme Court in 2015 reaffirmed with finality the 2014 Philippine court of appeals decision, following government defeats in arbitral courts, that the Philippine government indemnify Piatco, the contractor for NAIA Terminal 3, the full amount ($327 million plus interest) for unlawful expropriation.

If the replacement contract violates property rights of some parties under the old contract, government must compensate the holders of those rights. “Unlawful expropriation” will cost us dearly as it did in the Piatco case. Incidentally, that the New Clark City concession contract has no similar “onerous” provisions is irrelevant: the Metro-Manila concession contracts were signed in 1997, not in 2014; the concessionaires made a risky bet in 1997, not in 2014!

The chief architect of the 1997 water privatization, former President Fidel Ramos, stated in a letter to President Rodrigo Duterte that the government negotiated in good faith in 1997 and gave its word that it will respect the sanctity of the contract. On that promise, the bidders were able to successfully negotiate with creditors for financing. The income tax holiday and the arbitral adjudication were integral parts of the viability of the contract which prompted an aggressive bid to give the consumers substantial discounts on their water tariff in 1997. In other words, they helped pave the way for the water service privatization and for better water service to the public.

On the March 2019, Malacañang went ballistic over the water crisis in Metro Manila. But who is to blame for standing in the way of long-identified water impoundment projects? Not the concessionaires. Part of the blame was actually the current regime’s as it waffled between PPP and ODA on the one hand and between Japanese and Chinese on the other on bulk water provision. But the government water regulator, MWSS, must take most of the blame for rebuffing or delaying the offers by the concessionaires to construct water security projects. The Cardona Water treatment project was long delayed; the Tayabasan East Water Source was aborted; the Kaliwa Low Intake and Kaliwa Long Term Source projects were rejected because MWSS decided that it will procure these facilities by itself! As chief regulator Patrick Ty acknowledged when asked about whose fault it was: “Yes, our fault because we kept delaying these projects.”

Would that the new decade sees the Philippines steer clear of the slippery slope to Venezuela East!

 

Raul V. Fabella is a retired professor of the UP School of Economics and a member of the National Academy of Science and Technology. He gets his dopamine fix from hitting tennis balls with wife Teena and bicycling.

MFPA Center for Leadership Excellence, St. Scho set stage for Gen Z leaders

LATE last year, the St. Scholastica’s College Manila Ma. Fe Perez-Agudo (MFPA) Center for Leadership Excellence held its second annual thought leadership workshop for student leaders. Fifty-two promising students from Grades 7-12 participated to hone their leadership skills and become an inspiration to others.

The MFPA Leadership Center partnered with 2017 Ramon Magsaysay awardee, the Philippine Educational Theater Association (PETA), to highlight this year’s theme, Inspire to Lead. PETA used the fundamentals of theater and storytelling to teach the workshop participants to be critical, communicative, and creative in dealing with the problems facing their generation.

Ma. Fe Perez-Agudo, founder of the Center and president and CEO of Hyundai Asia Resources, Inc. (HARI) and outspoken advocate of woman empowerment, explained the importance of this creative workshop: “We are living in uncertain and volatile times. Young leaders have access to so much information about societal issues and want to help change the world for the better, but it can be difficult for them to know where to start. This innovative workshop with PETA will help them learn how to get the full picture and inspire others to act.”

The MFPA Center for Leadership Excellence was established on April 24, 2017 to complement the Scholastican academic tradition of leadership. The Center is based on four pillars or modules: Personal Leadership, Organizational Leadership, Social Change, and Service Learning.

Ma. Fe Perez-Agudo and Sister Mary John Mananzan, St. Scholastica’s College vice-president for External Relations (center) celebrate the many colors and faces of youth leadership.

In November 2018, the Center held its inaugural session with a Thought Leadership Forum of woman executives that helped impart the proper mind-set for leadership in the age of digital disruption.

This year, the workshop developed by PETA and the Center focused on promoting a deeper understanding of the issues that beset the Filipino family and society today. The student leaders were encouraged to reflect on these issues and consider how they can harness creativity to be better heard and listened to.

After the workshop sessions, selected student leaders shared their key insights and takeaways. Grade 12 class president Chloe Nicole T. Ebeo delivered a message on behalf of the participants: “Thank you, Ms. Maria Fe Perez-Agudo, for inspiring us to take an extra step for all the opportunities we may come across. You have truly showed us that compassion and determination does get you far…. Thank you to PETA, its members, and staff for giving us such an eye-opening experience… that reminds us that we were given this platform to be able to speak up and bring change.”

After watching the students deliver their presentations, Ms. Agudo encouraged the young leaders to continue learning and growing: “As a member of a generation that has seen and addressed our share of problems over the years, I hope that sharing our insights and experiences can help you mold a better future for our country and for the world! I know I have learned so much just from watching your wonderful presentations! I am inspired to believe that your generation is strong and brave and compassionate enough to face any challenge or problem head on!”

BSP looks to strengthen financial inclusion push

THE BANGKO SENTRAL ng Pilipinas (BSP) will continue its drive to push for financial inclusion in 2020, according to BSP Governor Benjamin E. Diokno.

Moreover, Mr. Diokno said the central bank, together with its counterparts in the Association of Southeast Asian Nations (ASEAN), is also pushing to achieve better inter-region standardization through QR codes.

When asked by a member of the Rotary Club of Manila on Thursday about whether he was happy with the state of financial inclusion in the country, Mr. Diokno said: “Am I happy? Of course not.”

World Bank data published in 2018 showed only 34.5% of Filipinos aged 15 years old and above own a formal bank account.

“So we are looking at the numbers and what we mean by financial inclusion. Is it individuals or is it households. But at the same time, we have our own programs,” Mr. Diokno said.

The governor said the BSP has forged ties with different government agencies such as the Department of Education and the Civil Service Commission, among others, to tackle the pain points of financial inclusion. But most of all, Mr. Diokno is positive that the National ID system will boost the government’s effort to bring banking services to more people.

Among the hurdles in opening a bank account aside from the maintaining balance is the need to have at least government-issued ID as part of the Know-Your-Customer (KYC) scheme. Such IDs also need to be paid for. This time, the lone national ID, which can be accessed for free, initially, by the public, will suffice instead of two government IDs.

In October, the BSP teamed up with the Philippine Statistics Authority as the former agreed to subsidize the production of P116-million blank cards for the ID issuance until 2022.

Aside from the national ID, Mr. Diokno is also looking to expand digital payments to make the country a “cash-lite” society.

“We’re (ASEAN central bankers) going to develop a system that is interoperable between the ASEAN region. And so in fact, QR (quick response) codes will eventually be applicable to all countries,” he said.

Mr. Diokno said this will be beneficial to “about 620 million people” in the region, of which more than 100 million are Filipinos.

The central bank has given financial players up until June 2020 to utilize a uniform QR code format for e-payments.

The BSP wants to have 20% of total transaction volumes done digitally by 2020. They also target to have 30% of the total value of payments done electrically to prove the credibility of this method and establish users’ trust in these digital platforms. — L.W.T. Noble

Davao mayor says bridge project could be delayed due to ROW problem on Samal side

THE LONG-planned bridge that will connect the island province of Samal to mainland Mindanao through Davao City is facing another hurdle with one family threatening to file Writ of Kalikasan, according to Davao Mayor Sara Duterte-Carpio. A Writ of Kalikasan — as contained in Section 16, Article II of the Philippine Constitution — is a legal remedy under Philippine law that provides protection of one’s constitutional right to a healthy environment. Ms. Carpio, in an interview at her office last week, said the family has complained of right of way through a letter to the Department of Public Works and Highways (DPWH). “I have a copy but the letter was not addressed to me, that’s why I don’t think I have the right to release it. The last information I received was that the oppositor has plans to file a Writ of Kalikasan against the project. So we can expect delays for its construction,” she said. The P23.04 billion Davao-Samal connector, which will span 2.8 kilometers and to be funded through official development assistance, has already received final approval from the national government through the National Economic and Development Authority. Ms. Carpio said the final bridge location will be in R. Castillo Street, Agdao on the Davao City side and in Barangay Caliclic in Samal. The Island Garden City of Samal, which is under the jurisdiction of the Davao del Norte provincial government, is one of the most popular beach destinations in the Davao Region given its proximity and accessibility from Davao City. — Maya M. Padillo

Dandel Fernandez shares top honors in Fischer Random Chess-Sharjah

NOVELTY Chess Club Board of Director Dandel Fernandez of the Philippines defeated Grandmaster (GM) Monika Socko of Poland to finish in a three-way tie for first place with eventual champion Grandmaster Bartosz Socko of Poland and International Master (IM) Mokliss El Adnani of Morocco at the conclusion of the Fischer Random Chess-Sharjah on Friday at the Sharjah Chess Club in Sharjah, United Arab Emirates.

The triumvirate tallied 6.0 points each after seven rounds of play. Bartosz, however, took the title in the 10 minutes plus five seconds increment time control format after a superior quotient of 31.5 points from Mokliss 31.0 and Dandel 27.5.

International Master Oliver Dimakiling of the Philippines led the huge group of 5.5 pointers that includes International Master Olga Zimina of Italy, Woman International Master (WIM) Oliwia Kiolbasa of Poland, Woman Grandmaster (WGM) Josefine Heinemann of Germany, Woman International Master Dinara Dordzhieva of Russia and Woman Grandmaster Nguyen Thi Mai Hung of Vietnam.

It shall be recalled that Dandel, a Maynilad Water Employee and 2019 Executive Grand Prix Overall top-notcher seized the second spot with 8.0 points, half point behind with eventual champion Candidate Master (CM) Duane Rowe of Jamaica (8.5 points) in the 8th Abu Dhabi Classic Chess Tournament-FIDE rated held in Abu Dhabi Chess and Culture Club in Abu Dhabi, United Arab Emirates last Jan. 4. — Marlon Bernardino

Spain’s Rafa Nadal secures comeback win to set up ATP Cup final against Novak Djokovic-led Serbia

SYDNEY — Rafael Nadal secured a come-back victory against Australia’s Alex De Minaur at the ATP Cup in Sydney on Saturday, propelling Spain into the final of the inaugural event to play the Novak Djokovic-led Serbian team.

The world’s top ranked player was ambushed early by the young Australian, who threatened to run away with the match, before the Spaniard recovered to win 4-6 7-5 6-1.

Earlier in the evening, Roberto Bautista Agut played a near flawless match to defeat a misfiring Nick Kyrgios 6-1 6-4, giving Spain an unassailable lead going into the doubles match.

The top 20-ranked De Minaur, who had previously not won a set against the Spaniard, threw his wiry frame at every shot, breaking Nadal’s serve in the first game of the match before going on to take the set.

The 20-year-old hopped into his backhands, such was his determination to throw himself forward, and launched into the air to hit his punishing forehands.

Nadal, one of the most dangerous players to serve against, remarkably did not earn a break point on the Australian’s serve until late in the second set, which he converted despite enjoying little momentum up until that point.

“He had a lot of energy, he plays with a lot of passion, sometimes a little too much,” Nadal said.

Spain has had a punishing schedule leading into the match, which included finishing the previous tie against Belgium in the early hours of Saturday morning.

Nadal reeled off four straight games at the start of the third to set up the victory as De Minaur’s error count rose, and the Spaniard found his range.

LONG RIVALRY
In the other semifinal, Djokovic played strong tactical tennis to overcome the enigmatic Russian Daniil Medvedev, to secure Serbia’s spot in the final.

The Serbian won the contest 6-1 5-7 6-4 after he found success pushing the 198cm (6.5 ft) tall Russian around the court, forcing Medvedev to constantly scrape shots off his shoe laces.

Less than two weeks out from the Australian Open, Djokovic gave the world’s top players a possible blueprint on how to beat the 23-year-old Russian who has been regularly toppling the game’s elite.

While Medvedev’s slapping forehand, flat backhand and big serve have proven hard to counter, Djokovic used dropshots and low slicing backhands to pull the world number five into awkward places.

Earlier, Serbia’s Dusan Lajovic beat his more highly ranked opponent, Russia’s Karen Khachanov, giving Serbia an unassailable 2-0 lead going into the doubles match.

Spain will have an opportunity in Sunday’s final against Serbia to confirm it has the world’s best men’s tennis team, having recently won the revamped Davis Cup and boasting two top 10 players in its ATP Cup side.

But Nadal will likely first need to reverse the momentum in his long rivalry with Djokovic, who has not lost to the Spaniard on hardcourts, like the court surface in Sydney, since 2013.

Nadal said late on Saturday he had not yet formed a game plan.

“No idea yet, I’m just happy for now, tonight, to be where we are,” Nadal said.

Djokovic leads Nadal 28-26 in their head-to-head which dates back to 2006. — Reuters

Rice inventory up 14% in early Dec. amid surge in NFA stocks

THE national rice inventory was estimated at 3.098 million metric tons (MT) as of Dec. 1, up 14% from a year earlier, the Philippine Statistics Authority (PSA) said.

According to the PSA’s Rice and Corn Stocks Inventory report, the inventory rose 4.6% month-on-month. The rice inventory is sufficient for about 96 days’ consumption based on an average daily consumption estimate of 32,000 MT.

Households accounted for 51.9% of inventories, commercial warehouses 32.6%, and the National Food Authority (NFA) 15.5%. No breakdown was provided for how much of the stocks were accounted for by imported rice.

Household inventory grew 5.3% year-on-year, while stocks held by commercial warehouses fell 7.3%. NFA stocks rose 370.6% from a year earlier.

All segments reported higher stocks month-on-month. Inventory held by households increased 5.3%, those of commercial warehouses grew 2.9%, and NFA holdings increased 5.9%.

The Department of Agriculture (DA) said that it is projecting palay production for 2019 of about 18.4 million MT, lower than the 19-million MT target, which factored in about P16.07 billion worth of agricultural damage during the period.

For 2020, it targets 19.6 million MT with the support of the P10-billion Rice Competitiveness Enhancement Fund (RCEF), which includes a P3-billion seed component. The DA’s distribution of inbred seed through the Philippine Rice Research Institute (PhilRice) started in late 2019 for dry-season planting in 2019 and 2020.

RCEF aims to reduce cost of production by about half from the current P12 per kilo, as well as to increase yield per hectare to 6 MT from 4 MT.

The corn inventory was reported at 794,870 MT, up 26.2% year-on-year, but down 33.7% month-on-month.

Corn held in commercial warehouses accounted for 77.1% of the total, while households held 22.9%. The NFA did not hold corn stocks.

Both sectors increased their holdings comparing year-on-year. Households raised their stocks 89.7%, while commercial warehouse inventory increased 14.8%.

Month-on-month, household inventory fell 18.1%, while holdings of commercial warehouses fell 37.2%. — Vincent Mariel P. Galang

Century Properties keen on REIT launch

CENTURY Properties Group, Inc. (CPG) said it is “very interested” to launch real estate investment trusts (REITs) once the government finalizes its rules on the real estate investment platform.

CPG President and Chief Executive Officer Jose Marco R. Antonio told reporters Friday the listed property developer is eyeing its office leasing portfolio to register for REITs once the plan is ripe.

“We’re very interested. I think it’s been a long-time coming for the Philippines… For us, as we’re growing our office portfolio, the REITs would be a great way to raise capital,” he said.

“We would participate once we are able to comply with the minimums and when we think there is a substantial or an adequate size to be able to have a REIT for CPG. If ever, it would definitely be more concentrated into office developments,” he added.

CPG’s leasing revenues as of the nine months of 2019 stood at P404.07 million, up 41.67% from the same period a year ago. CPG’s office assets are classified under this business segment, which is also comprised of Century City Mall in Makati, 160 medical suites in Centuria Medical Makati and the Pacific Star Low Rise Building where it has 50% ownership, among others.

“We look at the REITs as a long-term fund-raising tool and capital markets initiative that would allow us to actually accelerate further our expansion plans for commercial leasing assets,” Mr. Antonio said.

The government is targeting to finalize its guidelines on issuing REITs within the year, 11 years after Republic Act No. 9856 or the REIT Act was approved in 2009.

Based on the last draft rules that the Securities and Exchange Commission released in October, the proposal is to reduce the minimum public ownership for REITs to 33% from 40% and to require all income generated from REITs to be reinvested onshore.

Aside from CPG, Ayala Land, Inc. also said in December it wants to make its maiden REIT offering in 2020 for its prime Makati office assets.

CPG has set its capital spending at P30 billion until 2022 to finance its expansion plans. Earnings of the firm in the nine months to September rose 81% to P1.2 billion as revenues jumped 36% to P9.8 billion.

Shares in the company shed 2 centavos or 3.70% to P0.56 apiece on Friday. — Denise A. Valdez

Hopes for spike in US farm exports to China dim

CHICAGO/BEIJING — Days before a US-China trade deal is due to be signed, large Chinese purchases of Brazilian soybeans and a pair of unexpected policy moves by Beijing have dimmed US hopes that China would double its imports of American farm products this year.

US President Donald Trump has touted the prospect of China buying $40 billion in US farm products in 2020 as a pillar of the “Phase 1” agreement aimed at defusing the bitter trade war that erupted between the world’s two largest economies in 2018.

The conflict, marked by tit-for-tat tariffs, has disrupted the flow of billions of dollars in goods and threatened to slow global growth, rattling financial markets. It has also sent a chill through the US farm community, a key political constituency for Trump as he seeks re-election in November.

China announced on Thursday that Chinese Vice Premier Liu He, who has led Beijing’s delegation in the trade talks with the United States, would sign the Phase 1 deal in Washington next week.

But Chinese forward purchases of Brazilian soybeans, including about a dozen bulk vessels this week, or about 800,000 tonnes, are raising doubts Chinese buyers will have an appetite for vast supplies of US soybeans once the deal is done.

Margins in China for crushing raw soybeans into livestock feed and cooking oil have improved for mid-2020, the height of Brazil’s soy export season, according to two China-based traders.

China’s import needs have already been covered through the first quarter of the year, the traders said on condition of anonymity.

“The key factor for crushers is whether the beans are cheap, even with a trade deal. If the beans from South America are cheap, buyers will go for South America,” one of the traders said.

No details about the targeted $40 billion shopping list have been published, and China has not confirmed any purchase commitment. The US grain and livestock market rally that followed the Dec. 13 announcement of a trade deal has faded.

Adding to US concerns about the deal, sources in China told Reuters this week that Beijing has suspended its plan to implement a nationwide gasoline blend containing 10% ethanol this year. The plan had spurred hopes of a jump in US exports of the biofuel to China, as well as shipments of US corn to produce it domestically.

The news that China’s ethanol demand would not be rising broke a day after Beijing said it would not raise a low-tariff grain import quota to accommodate greater US exports.

Gao Feng, spokesman at China’s commerce ministry, said on Thursday that China will continue to improve the administration of tariff quotas for wheat, corn and soybeans in accordance with World Trade Organization commitments, and will make full use of quotas based on market conditions.

China could still expand agricultural imports from the United States, he said.

Even so, market observers question whether the United States’ $40 billion goal can be reached without large volumes of a wide array of goods.

“Such a lofty target makes (the market) very skeptical about the whole thing,” said Ted Seifried, chief strategist with Chicago-based brokerage Zaner Ag Hedge. “If China’s going to hit these numbers or get anywhere close, ethanol will have to be part of the mix.” — Reuters

Giving a soft cotton touch to the Mandaya’s Dagmay cloth

By Maya M. Padillo
Correspondent

DAVAO CITY — Local designer Wilson Niñofranco Limon is coming up with a clothing line that will combine cotton fabric and the Dagmay textile of the Mandaya indigenous people in Davao Oriental.

Dagmay is made from abaca fiber and its colors are extracted from barks, seeds, fruits, and other natural dyes.

Mr. Limon, whose Niñofranco brand has been known to use various indigenous cloths, said the new venture using Dagmay required not just permission but immersion with the Mandaya community who live in mountain areas.

“Strict kasi sila na tribe dahil pino-protektahan nila ang kanilang culture… Nag-immersion kami sa Mandaya community sa Sitio Sangab (They are a very strict tribe because they are protective of their culture… We went on an immersion in Sitio Sangab) and met the tribal leaders and discussed our plans of working with their artisans,” Mr. Limon told BusinessWorld.

The immersion, which Mr. Limon undertook in November last year together with representatives of the Department of Trade and Industry (DTI) regional office, was intended to give the designer a deeper understanding and appreciation of the Mandaya culture.

The DTI Davao Oriental provincial office has tapped Mr. Limon for a product development program on wearables — he is tasked to help the communities come up with new designs or incorporate Mandaya’s craftsmanship into modern clothing.

“We really need to tap the artisans directly. Before, I had to go through a middle man since there was no access to the community,” he said in mixed English and Filipino. He added that he also aims to help provide direct market linkages to the Mandaya weavers, who contrary to some perceptions, are thriving.

“The weavers say there are still many of them, they just don’t have the market. If Dagmay will be incorporated with cotton, we can help them market with designers and social entrepreneurs. Also with clients who are into contemporary ethnic clothing,” Mr. Limon said.

The designer is returning soon to the community to introduce cotton weaving, so the weavers themselves can start learning to incorporate it with the Dagmay designs as well as their traditional embroidery.

“We will evaluate their capacity and (how far) they are willing to collaborate,” he said.

For his brand Niñofranco, he said he has already produced a limited number of jackets using Dagmay and is still experimenting with shirts and blouses.

He said Mandaya designs are not commonly used yet, unlike those of the T’boli, or the beads of the Bagobo, and the Inaul from Lanao.

For his part, he said he is excited to tap more local artisans to give clients fresh designs.

Deft maneuvering

Rob Pelinka didn’t exactly stand on solid ground when the Lakers began their 2019–20 campaign. He had just gone through a busy offseason — one of tumult, fresh off yet another absence from the playoffs, the resignation of his boss Magic Johnson, the assassination of his character by the living legend, and a futile courtship of reigning Finals Most Valuable Player Kawhi Leonard. Still, he remained undeterred, facing the criticisms head on and in public, and, more importantly, doing his job as best he could. And for all the shadows being cast on the purple and gold, they looked to the future with optimism. Because of LeBron James and Anthony Davis. Because of him.

The other day, Pelinka found his exertions rewarded with a multi-year contract extension that accompanied his promotion as the Lakers’ new vice president of hoops operations. Needless to say, the development is a reflection of the absolute trust and confidence franchise owner Jeanie Buss has in him, and an offshoot of the tangible returns his leadership has generated. He certainly swung for the fences, risking significant roster turnover, not to mention a record number of draft assets, to acquire Davis, and then waiting for Leonard’s decision even as the free agent market was thinning. And while he didn’t bat a hundred percent, there can be no denying the outcome.

That the Lakers are firmly entrenched at the top of the highly competitive Western Conference despite whiffing on Leonard speaks to Pelinka’s deft maneuvering in the aftermath. There’s no doubt that they will ultimately go only so far as James and Davis will take them. On the other hand, the supporting cast has turned out to be an extremely productive, if imperfect, one. Weaknesses abound, but, as their shellacking of the Thunder on the road even without their two All-Stars proved, they’ve learned to become better than the sum of their parts.

Heading into the trade deadline, the grapevine has the Lakers exploring possibilities to improve their talent base. Per speculation, all and sundry not named James or Davis are available under the right circumstances. Indeed, it’s Pelinka refusing to be satisfied, and understanding that there should be no limits to the pursuit of excellence. True, he’s working with handicaps, not least among them the salary cap. Then again, he has always had hurdles to overcome and concerns to address, often borne from within. He’s used to the challenge, and, as his promotion underscores, reaping the benefits of experience.

 

Anthony L. Cuaycong has been writing Courtside since BusinessWorld introduced a Sports section in 1994. He is a consultant on strategic planning, operations and Human Resources management, corporate communications, and business development.

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