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Validators call on government, private sector to cooperate in protecting Pujada Bay

VALIDATORS from the Most Beautiful Bays in the World Organization (MBBWO) called on local authorities to coordinate with private owners of islands and resorts around Pujada Bay to maintain its cleanliness and protect it from environmental degradation. The bay, located in Davao Oriental, has been accepted in the MBBWO list based on the provincial government’s application, subject to site validation. MBBWO officials, led by Founder and Manager Bruno Bodard and Treasurer Guy Ettiene Rousset toured communities around Pujada Bay last week. “We were very surprised by the beauty and quality of the Pujada and Mayo bays that we visited,” Mr. Rousset told media in a press conference held at Menzi Beachpark in Mati City, Davao Oriental, Saturday. Mr. Bodard said among the criteria in the Most Beautiful Bays tag include the community involvement in environmental protection. “The Pujada Bay has complied with the requirements. But I don’t want to say just Pujada Bay, because Mayo and Balite bays are also beautiful. I will call them Mati’s Bays. We will validate these Mati’s bays,” he said. “We are validating the quality of the water, even the mountain and the forest is very important. It is part of our validation,” Mr. Rousset said. He noted that one of the benefits of being included in the MBBWO list is getting international help in protection from toxic products and other concerns. Mati Mayor Michelle Nakpil Rabat, for her part, said the city government would soon implement a master plan for the protection of Pujada Bay. This includes the construction of sewage treatment plants as well as catchment basins for plastics and other wastes. In 1994, the Pujada Bay Landscape and Seascape was declared as a protected area under the National Integrated Protected Areas System (NIPAS) through Presidential Proclamation No. 431. Covering about 20,0887.43 hectares of protected landscapes and seascapes, Pujada Bay is bounded by the Guang-guang Peninsula in the east and the Pujada Peninsula in the west. — Maya M. Padillo

Kyle Kuzma scores 36, Lakers pummel OKC without Davis, LeBron

LOS ANGELES — Kyle Kuzma scored a season-high 36 points to lead the Los Angeles Lakers to a 125-110 road win over the Oklahoma City Thunder on Saturday night.

The win was the Lakers’ eighth consecutive.

The Lakers led by as many as 32 points in the second half but the Thunder cut the lead to just 11 with less than three minutes remaining before Kuzma hit back-to-back shots to put the game firmly in control once again.

Kuzma was four of six from behind the 3-point line.

For the second consecutive night, the Lakers put together a monster first quarter.

In Friday night’s win in Dallas, Los Angeles scored 45 points in the opening frame without Anthony Davis.

In Oklahoma City, the Lakers scored 41 points in the first 12 minutes without its two biggest stars.

Davis missed his second consecutive game with a contusion of his gluteus maximus.

LeBron James was held out with flu-like symptoms.

James had been listed on the injury report due to illness prior to Friday’s win in Dallas, where he finished with 35 points, a season-high 16 rebounds and seven assists.

But James couldn’t battle through it Saturday on the second of a back-to-back.

“His chest was burning all throughout the game,” Lakers coach Frank Vogel said before Saturday’s game. “We had to get him out early in the first quarter. I was using timeouts to get him rest, but most of my timeouts last night were centered around helping him fight through the chest cold.”

Los Angeles was without a third starter, as Danny Green missed with right hip soreness.

The Lakers jumped out to the big lead, thanks in part to hot 3-point shooting. Los Angeles shot 76.9% from behind the arc in the first half. The Thunder were just two of 13 from long distance before halftime.

Rajon Rondo added 21 points and 12 rebounds for the Lakers.

Danilo Gallinari and Shai Gilgeous-Alexander scored 24 points each to lead the Thunder, who lost for just the second time in nine games.

TATUM HITS CAREER-HIGH 41 AS CELTICS STOMP PELICANS
Jayson Tatum scored a career-high 41 points in three quarters of play as the Boston Celtics crushed the visiting New Orleans Pelicans 140-105 on Saturday night.

Tatum shot 16 of 22 from the field with a career-best six 3-pointers as the Celtics snapped a season-long three-game losing streak. Enes Kanter added seasons highs of 22 points and 19 rebounds.

Frank Jackson had a team-high 22 points off the bench for the Pelicans, who lost for just the third time in their last 10 games. Rookie Jaxson Hayes scored a career-high 20 points, and Lonzo Ball (10 points, 13 rebounds) fell an assist shy of a triple-double.

The Celtics had 14 steals compared to four for the Pelicans. New Orleans was outscored 74-42 in the paint.

The Celtics used a 19-3 run on their way to their first double-digit lead, 30-18, on a Gordon Hayward three-point play with 2:44 remaining in the first quarter. Boston led 41-24 after one, its most points scored in a quarter this season.

The Celtics grabbed their first 20-point advantage early in the second quarter and took their largest lead of the half at 57-35 on a Tatum 3-pointer with 7:42 to go. New Orleans got within 14, 64-50, with 3:02 left, but Tatum answered with a pair of 3s as Boston led 72-57 at the break.

Tatum led all scorers with 22 points — 11 apiece in the first and second quarter. Jackson paced the Pelicans with 14.

The Celtics began the third with a 21-9 surge and led 93-66 at the midway point of the quarter. Tatum eclipsed 30 points on the night with a layup with 4:37 left in the quarter, and he followed with a 3 as Boston grabbed its first 30-point lead, 101-71.

Tatum drained his sixth trey less than a minute later, and he surpassed his previous career high of 39 points on a bucket in the paint with 1:04 to go as the Celtics carried a 114-82 lead into the fourth quarter. Tatum sat out the final 12 minutes. — Reuters

Argentina working ‘nonstop’ to resolve debt crisis

BUENOS AIRES — Argentina’s new government is working “nonstop” to resolve its sovereign debt crisis, the South American country’s Economy Minister Martin Guzman said on Friday, a month after center-left Peronist President Alberto Fernandez took office.

“We are working nonstop to resolve the external public debt crisis, the result of a failed irresponsible model that does not work in any country of the world and which left us hostage to the international financial markets,” Guzman tweeted.

Fernandez’s government, inaugurated on Dec. 10, is set for tough talks with creditors to restructure around $100 billion in debt to avoid a damaging default after former president Mauricio Macri’s administration was dogged by economic crisis.

Guzman, a young economist and acolyte of Joseph Stiglitz, has been tapped to lead restructuring talks with private bondholders and other creditors, including the International Monetary Fund (IMF), which agreed to a $57 billion financing package with Argentina in 2018.

Earlier on Friday, Fernandez told journalists that “everything is fine and on track” with the IMF, though there was little to talk about at the moment.

Argentina’s debt talks will face their first big test this month with a $277-million payment due on a Buenos Aires provincial bond, seen as a gauge of how the indebted South American nation will handle its creditors. — Reuters

San Juan Go-For-Gold shooting guard John Wilson makes MPBL history

HISTORY was made in the Maharlika Pilipinas Basketball League (MPBL) at the weekend as San Juan Go-For-Gold shooting guard John Wilson became the first player in league history to reach the 1,000-point mark.

It happened on Saturday in San Juan’s 109-99 victory over the Pasig-Sta. Lucia Realtors at the former’s home turf of FilOil Flying V Centre.

Mr. Wilson, a former campaigner in the Philippine Basketball Association and a product of Jose Rizal University, needed only four points to reach the scoring milestone entering the contest, something he was able to do early in the match.

He went on to tally 24 points to go along with five rebounds and four assists as he led the Knights to the victory.

San Juan currently is on top of the North division with a 22-3 record, ahead of the second-running Manila Stars (21-5) and Makati Super Crunch (20-5).

“John really works hard and deserves this achievement,” said Knights coach Randy Alcantara of Mr. Wilson.

San Juan next plays the Davao Occidental Tigers in a battle of top teams on Jan. 18. — Michael Angelo S. Murillo

Court affirms denial of P157-M Duty Free claim

By Vann Marlo M. Villegas
Reporter

THE Court of Tax Appeals (CTA) affirmed the denial of the refund claim of Duty Free Philippines Corp. worth P156.5 million.

In a four-page resolution on Dec. 13, the court, sitting en banc, denied for lack of merit the motion for reconsideration of Duty Free.

The court said the arguments raised by Duty Free were already discussed in its previous decision.

“After a careful consideration and evaluation of the parties’ respective arguments, the Court finds that the arguments raised in DFPC’s Motion for Reconsideration are mere rehash of its arguments in its Petition for Review, and have already been amply discussed, passed upon and considered by this Court in the Assailed Decision sought to be reconsidered,” the court said.

“Clearly, there is no cogent reason to disturb the assailed Decision,” it added.

Duty Free, an office attached to the Department of Tourism, is claiming refund over the value-added tax it paid on its importation of alcohol and tobacco in 2014.

The court en banc in its decision in July 2019 dismissed for lack of jurisdiction the petition for review of the corporation, affirming the May 2018 decision and July 2018 resolution of its second division.

Duty Free reiterated that the court has jurisdiction over the case and the Supreme Court decision, which said that disputes between government agencies are to be settled by the Justice secretary, the Office of the Solicitor General, or the Government Corporate Counsel, is not applicable to the case.

It said the case of the Power Sector Assets and Liabilities Management and the Bureau of Internal Revenue before the High Court involving a dispute over a memorandum of agreement and the collection of the bureau was not based on a tax assessment.

However, the court said a more recent decision of the High Court ruled that tax disputes solely between government entities is covered by Presidential Decree No. 242, which prescribes procedure on settlement of disputes and claims between government offices, and must be resolved by the Justice secretary.

Section 2 of PD No. 242 states that all cases involving questions of law should be submitted to the secretary.

The solicitor general will resolve cases of both questions of fact and law between government departments or offices while the Government Corporate Counsel settles claims between government-owned and controlled corporations or entities served by the Office of the Government Corporate Counsel, under Section 3 of the law.

The decision was penned by Associate Justice Cielito N. Mindaro-Grulla penned the resolution.

Associate Justice Maria Rowena Modesto-San Pedro dissented on the resolution, saying the Supreme Court has declared that not all disputes between government are under PD 242, and administrative settlement under the decree must be related to interpretation and application of statutes, contracts or agreements and other cases that are similar in nature.

She stated that tax disputes are not similar to the said cases, considering settlement of tax issues are not under PD 242.

India asks refiners to stop buying palm oil from Malaysia amid row

MUMBAI/NEW DELHI — India has informally asked palm oil refiners and traders to avoid buying Malaysian palm oil, government and industry sources said on Tuesday, following Malaysian criticism of India’s actions in the Kashmir region and its new citizenship law.

India is the world’s biggest buyer of the oil and palm oil inventories could spike in Malaysia, putting prices under pressure if Indian refiners reduce purchases from the country. Malaysian prices are the global benchmark for palm oil prices.

A senior official in India’s vegetable oil industry, who did not wish to be named, said the government had asked refiners at a meeting attended by two dozen vegetable oil industry officials in New Delhi on Monday to boycott Malaysia.

“In Monday’s meeting we have been verbally told to avoid buying Malaysian palm oil,” the official said.

“We’ve had various rounds of meetings within the government and industry to see how we could reduce imports from Malaysia,” one Indian government official said, adding India has yet to firm up a plan of action and is exploring various options.

Malaysian Prime Minister Mahathir Mohamad has angered India over his comments on India’s actions in Kashmir and over a new Indian citizenship law, which critics say chips away at India’s secular foundations and could be used by to discriminate against Muslims.

In October, Indian traders stopped signing new contracts with Malaysia for a brief period fearing India will raise import tax on Malaysian palm oil after Mahathir told the UN General Assembly that India had “invaded and occupied” Kashmir, a disputed Muslim-majority region also claimed by Pakistan.

Last month, Mahathir, prime minister of a predominantly Muslim nation, also waded into the debate about India’s new citizenship law, which has led to violent protests in India and at least 25 deaths in clashes with police.

“People are dying because of this law. So why is there a necessity to do this thing when all this while, for 70 years almost, they have lived together as citizens without any problem?” Mahathir said last month.

The Indian government has made it clear it wants to punish Malaysia for these remarks and traders should support it, said another industry official.

“The government has been struggling to find ways to restrict imports from Malaysia due to World Trade Organization rules. For the time being it asked for industry co-operation,” he said.

India’s trade ministry did not immediately respond to a request for comment.

Malaysia’s Primary Industries Minister Teresa Kok, responsible for the palm oil industry, told Reuters on the sidelines of an industry event that the government has not received any official statement or notice from India about cutting imports from Malaysia.

“There are some discussions going on but until they officially announce, we don’t know whether it’s true,” said Kalyana Sundram, CEO of Malaysian Palm Oil Council, a state agency responsible for promoting palm oil.

Palm oil accounts for nearly two-thirds of India’s total edible oil imports. India buys more than 9 million tonnes of palm oil annually, mainly from Indonesia and Malaysia.

Indian refiners and traders have already contracted Malaysian palm oil for shipments in January and small amounts for February, said a Mumbai-based dealer with a global trading firm.

“The impact of Monday’s meet would be clearly visible from March onward — Indonesia’s exports will rise,” the dealer said.

Indonesia is the world’s biggest producer of palm oil, followed by Malaysia. Palm oil is crucial for the Malaysian economy as it accounts for 2.8% of Malaysia’s gross domestic product and 4.5% of total exports. — Reuters

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

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