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PGA Tour: Tiger Woods builds three-shot lead over Hideki Matsuyama after third round in Chiba, Japan

CHIBA, JAPAN — Tiger Woods left the field building a commanding three-stroke lead over Hideki Matsuyama after the third round at the Zozo Championship on Sunday.

Woods teed off with a two-shot advantage and after teasing his chasers with an opening three-putt bogey, he surged clear with six birdies, before stumbling with a late bogey after chunking his third shot at the par-five 14th.

He shot four-under-par 66, though a three-put par at the par-five 18th left him clearly frustrated.

In his first event since undergoing arthroscopic knee surgery two months ago, Woods posted a 16-under 194 total with one round left at Narashino Country Club.

Local favorite Matsuyama, making a rare appearance in his homeland, birdied the final hole to grab second spot on 13-under, while American Gary Woodland (68) was third on 12-under.

Playing in front of a sellout crowd after Saturday’s second round was completed behind closed doors sans spectators due to some muddy conditions that were deemed unsafe, leader Woods put on a clinic for most of the round.

A win by Woods would be his 82nd on the PGA Tour, matching Sam Snead’s record.

And it would leave the 43-year-old highly likely to pass Snead sooner rather than later. Snead was 52 when he recorded his final victory.

The final round resumed almost immediately on what was going to be a marathon day for the field after the 6.30 a.m. local time start.

The marathon was a result of Friday’s washout. Some players should complete 72 holes by time darkness falls at 5 p.m. (0800 GMT), but the leaders seem destined to return on Monday morning.

That should be but a minor imposition for Woods, what with his private jet and all. — Reuters

Warriors plan

Draymond Green didn’t want to talk about silver linings. After having seen the Warriors’ unfurling of their brand-spanking-new Chase Center end in an embarrassing rout, he was blunt in his assessment. “We f–king sucked,” he argued. “I’m not a moral victory kind of guy. I’m not looking for something to build off on.” And yet, seeing as how the yellow and blue will have plenty of nights like the one they just experienced, “something to build off on” is what he will need to get used to, and fast. He and two-time Most Valuable Player Steph Curry may still be around, but their presence alone isn’t going to cut it in a cutthroat Western Conference.

Not that Green was wrong. In fact, he was on the mark; the Warriors did prove to be far from what fans had been used to seeing them. Yet, to open the 2019–20 season with the same expectations as before would have been foolhardy at best. It wasn’t simply that the roster turned over. It was who left; Kevin Durant and Andre Iguodala, the MVPs of their successful Finals bids over the last half decade, are gone along with veteran Shaun Livingston. And in their place is relative youth, not quite the ingredient required to replace productive assets while staying competitive.

Still, Green has no choice. He has to stand as the pillar of the Warriors — certainly its most vocal leader given Curry’s preference to lead by example. They’re going to need him to be even more engaged — if it were at all possible — in the face of their reliance on nine players no older than 23. And, for all his pragmatism, there are things to look forward to. Certainly, the return to action of Klay Thompson is most anticipated. Still recovering from a torn anterior cruciate ligament, the five-time All-Star figures to miss most, if not all, of the current campaign. But the wait will be worth it, because they will be better — make that appreciably better — sometime soon.

In the meantime, Green would do well to adopt Steve Kerr’s outlook. “This is not a one-off. This is the reality,” ESPN quoted the Warriors head coach as saying in the aftermath of their 19-point loss to the powerhouse Clippers, fresh off a rousing triumph against the Lakers and just about the worst opponents they could have faced. “There’s going to be nights like this year. You’ve got to play through it. You’ve got to keep fighting and keep getting better. That’s the plan.” And under the circumstances, it’s not just a good plan. It’s the only plan.

 

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.

Nick de Lange of Designs Ligna on the challenges facing the furniture industry

Nick de Lange, Designs Ligna President, talks about the challenges facing the furniture industry in the Philippines.

ASF, volatile oil prices may push inflation up in 2020 — BSP

THE central bank on Friday flagged an upside risk to inflation next year, amid the volatility of global oil prices and the African Swine Fever (ASF) outbreak.

“The balance of risks to the inflation outlook has shifted over the upside for 2020 while it continues to tilt on the downside for 2021. Over the mid-term, upside risk to inflation might emanate mainly from the volatility in global oil prices and the potential impact of the ASF outbreak,” Bangko Sentral ng Pilipinas (BSP) Department of Economic Research Director Dennis D. Lapid said in a briefing on Friday.

Reuters reported that the Philippine hog industry is losing nearly $20 million a month from ASF infections, quoting agricultural officials. The highly contagious pig disease is spreading in the country, driving up prices of other meat products.

Inflation in the third quarter further decelerated to 1.7% from 3% in the April to June period. This brought the year-to-date average inflation to 2.8% which is still within the government’s target of 2-4%.

In October, inflation eased to 0.9%, its slowest clip since the 0.7% in April 2016 amid lower food electricity and food prices paired with base effects coming from last year’s nine-year high 6.7% inflation logged in September and October 2018.

For October and the rest of 2019, the central bank sees inflation to further tread downward.

“We don’t have the official forecast yet but just coming from the pattern of inflation that we saw last year, September and October were the high points and therefore, just because of the base effects, we’ll see that the impact of the high inflation last year will be to lower the inflation rates,” BSP Deputy Governor Francisco G. Dakila told reporters on the sidelines of the central bank’s briefing on the third quarter inflation last Friday.

The PSA is set to report the October inflation on Nov. 5.

Mr. Dakila said they expect a low inflation environment in October.

“We are expecting that inflation will still be quite low this October…The low inflation numbers are going to provide a boost to consumption and this will coincide with the spending in the fourth quarter for the Christmas season,” he added.

Meanwhile, the BSP is confident the economy can grow by 6.5% in the fourth quarter, given the catchup in government spending, lower inflation trend in recent months and anticipated rise in consumer spending during the holidays.

“The fourth quarter will be stronger because of the acceleration in government spending that will already be catching hold by that time as well as this will come with spending during the Christmas season. So we can see that the fourth quarter GDP will be closer to the midpoint of the 6-7% target for the fourth quarter,” Mr. Dakila said, noting that a 6.5% growth is reachable by the fourth quarter.

Data from the Bureau of Treasury (BTr) released on Oct. 22 showed that national government expenditures climbed by 39.01% in September to P415.1 billion from the P298.6 billion a year earlier, its best performance since the 42.7% increase recorded in April last year.

Government spending earlier in the year was anemic mainly due to the delay of the passage of the 2019 budget as well as the election ban, according to BTr. — L.W.T.Noble with report from Reuters

More PPPs included in Duterte’s infrastructure flagship program

THE government is adding more public-private partnerships (PPP) projects in its list of flagship infrastructure projects, and replacing some big ticket items with “smaller but game-changing” ones, according to the chief of the National Economic and Development Authority (NEDA).

Socioeconomic Planning Secretary Ernesto M. Pernia said the list, which originally had 75, will now have 100 infrastructure flagship projects.

“Big projects have been taken out and substituted with smaller projects but game changing for the regions. We also included a number of PPPs,” Mr. Pernia told reporters after the AmBisyon Nation 2040 symposium in Taguig City on Friday.

He said many projects in the list are now under construction, such as Department of Public Works and Highways’ road projects in Northern Luzon, Mindanao and Visayas.

Mr. Pernia said unsolicited proposals from the private sector such as the New Manila International Airport in Bulacan, and the rehabilitation of the Ninoy Aquino International Airport (NAIA) will be included in the list of flagship projects.

He said some projects in the original list have been dropped after these were deemed “impossible” given the lack of technology to build in “very deep waters and long bridges.”

For instance, the proposed bridge from Matnog, Sorgogon to Allen, Samar has been scrapped after a study showing it was not economically or financially viable.

The NEDA chief said other projects that have been junked are the proposed bridge from Leyte to Surigao which was “really just very challenging”, and the “very costly” Cebu-Bohol bridge.”

Mr. Pernia said the official list of infrastructure flagship projects will be posted on the NEDA website next week.

As of July, the list of infrastructure flagship projects stood at 75 with an indicative total investment requirement of P2.417 trillion.

Mr. Pernia also said that they are confident that majority of the projects in the updated list will be completed or “substantially started” before the end of President Rodrigo R. Duterte’s term on June 30, 2022.

According to the July status report of the 75 flagship infrastructure projects, 21 projects worth P187.63 billion are set to be completed by 2022, while 54 other projects worth P2.23 trillion are expected to be completed after 2022.

CHANGE IN MINDSET
Asked about the inclusion of more PPP projects, the NEDA chief admitted there was “some hesitancy to PPP projects before”.

The PPP program basically taps into the third way of financing infrastructure projects — the private sector, as an alternative to direct government funding or foreign loans.

However, Mr. Pernia said the ”mindset has adjusted overtime,” suggesting that the impact of projects should be seen more in terms of employment creation, contribution to gross domestic product growth, the multiplier effects, and the direct and indirect economic activities generated.

“We should look at the bigger picture. Let’s not be too obsessed over little gains to be made by the private sector proponent or little loss in the part of government, let’s look at the bigger picture. Let’s not be too restrictive,” Mr. Pernia said.

During his term, President Benigno S.C. Aquino III had pitched PPPs as the solution to addressing the country’s infrastructure needs. — Beatrice M. Laforga

Tampakan copper-gold project still faces hurdles

By Vincent Mariel P. Galang, Reporter

WHILE the environmental compliance certificate of the Tampakan copper-gold mine has been reinstated, the project will still face hurdles, such as the open-pit mining ban in South Cotabato.

Mines and Geosciences Bureau (MGB) Director Wilfredo G. Moncano told BusinessWorld that Sagittarius Mines, Inc. [SMI], which holds the concession for the Tampakan project, has already secured the reinstatement of its ECC from Malacañang.

“The DENR [Department of Environment and Natural Resources] MGB has recommended the lifting of the suspension of the ECC of SMI. Our latest information is that SMI has already secured the reinstatement of the ECC from the Office of the President, so ibig sabihin yung aming [this means our] recommendation was considered by the Office of the President,” he said in a phone interview.

The development of Tampakan, touted as one of the largest gold prospects in the world, was stalled after the South Cotabato provincial government banned open-pit mining in 2010.

In 2017, the DENR, under then-Environment Secretary Regina L. Lopez, cancelled Tampakan’s ECC and 74 other mining contracts in watershed areas.

“Ang magiging pinaka-issue na lang doon [The main issue left] will be the Provincial Ordinance, yung sa [the] open-pit mining ban sa [in] South Cotabato. Iyon na lang ang pinaka-issue doon [That is the only issue there],” Mr. Moncano said.

“Kung maresolve [If this will be resolved] in favor of SMI, then pwede na silang mag-resume [then they can resume] because all the documentary requirements…. so lahat ng [all] permits, mga programs approved na ng MGB, so wala na dapat problema [there should not be a problem anymore],” he added.

Prior to its suspension, SMI was able to secure a declaration of mining feasibility and was a few steps to start its operations.

Mr. Moncano said SMI has already decided to reduce its production target as a away to address some of the issues raised by its detractors.

The mine site contains about 15 million tons of copper and 17.6 million ounces of gold. This covers around 10,000 hectares covering municipalities in South Cotabato, Sultan Kudarat, Davao del Sur, and Sarangani.

It is projected to produce 375,000 tons of copper and 360,000 ounces of gold annually in its initial mine life.

Mr. Moncano said that as of the explored area of the site, it already has an estimated mine life of 32 years, which can still be extended.

“Isa kasi sa mga problema noong una, ang laki ng [One of the problems is its large-scale] operation noon. SMI has now reduced the footprint, production target, which means lumiit na rin yung magiging [it already reduced its] footprint ng minahan,” he said.

Mr. Moncano said SMI may be able to start mining operations next year, but this will depend on the court handling the petition seeking to lift the ban on open-pit mining in South Cotabato.

Anti-graft court junks another civil case on Marcos wealth

THE COUNTRY’S anti-graft court, citing “defects” in evidence, has junked a P267-million civil forfeiture case against two former business associates of the late dictator Ferdinand E. Marcos and his wife Imelda, who were accused of posing as dummies for the illegal acquisition of properties and public funds.

The Sandiganbayan Fourth Division, in a 37-page resolution dated Oct. 14, dismissed the case against spouses Fe R. Gimenez and Ignacio B. Gimenez due to insufficient testimonial evidence and private documents that were only photocopied and unauthenticated.

“Considering the defects present in almost all of the pieces of evidence that were submitted by the Republic, this Court finds that the Republic has failed to discharge its burden and so rules that the respective demurrers of the Spouses Gimenez should be granted,” read the resolution.

The Gimenez couple filed separate demurrers in April 2018, pointing out “critical defects” on the documentary evidence by the complainant, which is represented by the Presidential Commission on Good Government and the Office of the Solicitor General.

This the third time that the anti-graft court junked an ill-gotten wealth case against the Marcoses and their associates.

Last August, the Sandiganbayan Second Division rejected for insufficient evidence a government lawsuit filed 30 years ago seeking to recover P102 billion of alleged ill-gotten wealth of the dictator, his family and their associates.

Early this month, the same court also also dismissed for insufficient evidence a 31-year-old lawsuit accusing the Marcos couple of using dummies to amass more than P1 billion in ill-gotten assets.

In the case against the Gimenez couple, Fe was accused of participating in the transfer of “millions of dollars of government funds into several accounts in her name in foreign countries,” disbursing these funds to her co-defendants, and “acted as a conduit” of the Marcoses in the purchase of expensive works of art and properties in New York, USA.

Her husband, on the other hand, was accused of acting as a dummy of the Marcoses in corporations such as Allied Banking Corp. — Vince Angelo C. Ferreras

DENR says ready to defend Kaliwa Dam ECC

THE DEPARTMENT OF Environment and Natural Resources (DENR) is ready to face investigations and defend the issuance of an environmental compliance certificate (ECC) to the P18.7 billion Kaliwa Dam project, an official said Friday.

DENR Assistant Secretary Ricardo L. Calderon, speaking at a briefing in Malacañang, said the ECC, which gives the green light for construction, went through thorough review and consultations.

“Marami konsultasyon ang pinagdaanan at pag-aaral bago na-isyu ito ng environmental compliance certificate yung proyekto. Dumaan ito sa masusing pag-aaral ng iba’t ibang ahensya at konsultasyon (It went through many consultations and studies by different agencies before the project was issued an ECC),” he said.

The ECC was issued to the government agency Metropolitan Waterworks and Sewerage System (MWSS).

Mr. Calderon added that should there be any investigation, they are prepared to face the questions.

Earlier this week, several legislators questioned the ECC issuance, raising such concerns as the government’s failure to consult indigenous people communities who will be affected by the project that is intended to serve as a new water source for Metro Manila.

Bayan Muna Rep. Carlos Isagani T. Zarate filed a resolution calling for a probe on the activities of supply distribution concessionaires Manila Water Co., Inc. and Maynilad Water Services, Inc., which he said could be another “ploy to push for the start of the construction of the Kaliwa dam that is full of anomalies and is onerously pro-China.”

The Kaliwa Dam project, to be built by China Energy Engineering Corp., is targeted for completion by 2023. It is one of the projects under the Duterte administration’s Build, Build, Build infrastructure program.

Environment Secretary Roy A. Cimatu, in a statement on Thursday, said the DENR, through the Environmental Management Bureau, will strictly monitor MWSS’ compliance to the ECC during the dam’s construction. — Gillian M. Cortez

Ban on foreign-led research in PHL waters to be lifted

THE BAN on foreign-led maritime research within the Philippine’s exclusive economic zones will soon be lifted by the government, National Security Adviser Hermogenes C. Esperon, Jr. announced on Friday.

“We are opening up again the MSR (marine scientific research) processing, permits for MSR simply because we believe that the academe have to be deployed and do research for us and for all of mankind to get to know more of our maritime domain,” he said at a briefing in Malacañang.

President Rodrigo R. Duterte ordered a moratorium on foreign-led MSR last year after China registered with the International Hydrographic Organization (IHO) Chinese names for five underwater sea features in the Philippine Rise, also known as Benham Rise.

The matter was discussed by the two governments during a bilateral meeting in February 2018, wherein it was agreed that no further research would be undertaken by Chinese teams without permission from the Philippines.

On May 15, 2018, President Rodrigo R. Duterte issued a Presidential Proclamation declaring parts of the Philippine Rise undersea feature as a Marine Resource Reserve.

Under the proclamation, around 50,000 hectares of the Philippine Rise have been designated as a Strict Protection Zone limited to scientific studies, while more than 300,000 hectares are assigned as a Special Fisheries Management Area.

On the same day, a team of Filipino scientists were sent off to undertake the Coordinated National Marine Scientific Research Initiatives and Related Activities (CONMIRA) in the waters above the Philippine Rise.

Mr. Esperon further explained that there were cases of MSR applicants who were not willing to have any Filipino scientist join their research mission.

“If they don’t allow us, then what benefit do we get out of it since they are supposed to deposit with us their findings as well as the materials?” he said.

Mr. Esperson also announced that they will be releasing soon an updated version of the 25-year old National Marine Policy (NMP), which directs the development of country’s marine resources and territory.

The updated NMP, he said, underscores the administration’s commitment to enforce maritime laws, carry out sustainable development, and pursue peaceful settlement in disputes. — Gillian M. Cortez

PhilHealth says hospitals deny threat on non-accreditation

“A CHEAP stunt.”

This is how the Philippine Health Insurance Corp. (PhilHealth) has dubbed the supposed threat of 600 private hospitals’ not to renew their accreditation due to unpaid claims.

PhilHealth Chief Executive Officer Ricardo C. Morales, in a press briefing Friday, said, “There is no truth to that threat that there will be 600 hospitals that will pull out.”

“All the hospitals we have talked to denied that they will do that.”

The Private Hospitals Association of the Philippines (PHAPi) wrote an open letter addressed to the PhilHealth CEO saying that 600 hospitals have yet to receive their reimbursements and are planning not to renew their accreditation with the state health insurer.

Mr. Morales said such threat “will not work because it is putting the public in a predicament which they don’t deserve.”

He said PhilHealth will work directly with the hospitals to address the issue and resolve their unpaid claims.

He added that PhilHealth will be adopting a health information system that will improve the payment process for hospital claims.

The government is set to implement the Universal Health Care (UHC) Law next year, which automatically places all Filipinos as members of PhilHealth.

“We will be rolling out the Universal Health Care Law. We already have a date which is January 1, 2020 so until that date, we will be very busy because we will be communicating with stakeholders,” he said. — Gillian M. Cortez

Palace asserts medical bulletin on Duterte not needed with no ‘serious illness’

THE PALACE on Friday asserted that there is no need to issue a medical bulletin on President Rodrigo R. Duterte’s health status because he has no “serious illness.”

“The medical bulletin comes into play only when the President is in serious illness. That is the constitutional requirement,” Presidential Spokesperson Salvador S. Panelo said in a briefing.

Section 12 under Article 7 of the 1987 Constitution states: “In case of serious illness of the President, the public shall be informed of the state of his health.”

Mr. Panelo further said the Palace has been transparent enough by reporting that the President has been experiencing muscle spasms, which is not considered serious as it only requires him to take painkillers and rest.

The spasms are supposedly the cause of the reported “unbearable pain” that Mr. Duterte experienced on Tuesday, prompting him to cut short his working visit to Japan. Prior to the trip, the President was reported to have sustained minor injuries after falling off a motorcycle at the end of a joy ride within the Presidential Security Group Compound

Mr. Panelo said the President is currently in his hometown Davao to rest and will fly back to Manila on Monday.

Despite the medical advice to limit physical activity, Mr. Duterte was shown sitting on a motorcycle Thursday night through a post by Senator Christopher Lawrence T. Go, his former special assistant. — Gillian M. Cortez

Manila Water reports 100% adherence to schedule on day 1 of rotational supply

MANILA WATER Company, Inc. reported 100% adherence to its rotational service schedule in the eastern part of Metro Manila and Rizal on Oct. 24, the first day of the renewed supply interruptions.

In a statement on Friday, the company said the supply problem, caused by a decline in the water levels at its main source Angat Dam, may continue until next year.

“With its current inflow, Metro Manila’s main water source may not reach its ideal 212-meter level by the end of 2019,” the statement said.

The company started asking customers to store enough water on Oct. 17 as it announced a schedule of interruptions.

“The company has since sought the understanding of its customers as this effort is necessary to ensure the still-limited raw water supply will last even beyond the summer of 2020,” Manila Water said.

According to the Metropolitan Waterworks and Sewerage System (MWSS), Angat Dam’s elevation was at 185.85 meters on Oct. 24, with the spilling level at 217 meters.

Manila Water manages 5,000 kilometres of pipes, around 320 major valves, 28 reservoirs, and over 100 pumping stations. — Jenina P. Ibañez

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