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Martha Stewart: Sustainable development, legacy

It was full house at the Martha Stewart Leadership event sponsored by ANC at Sofitel. Who is Martha Stewart? Why is she such a big celebrity? She is the first self-made American woman billionaire who has consistently reinvented herself. She is the icon in lifestyle, baking and gardening, among others, and has built an empire in publishing and selling many Martha Stewart home items.

What are some lessons of her success? If you have an idea, especially a good one that fills a void, DO IT! Wake up early. She starts the day before 7am daily. No substitute for hard work and “the early bird gets the worm.” Be observant, be curious and learn something new all the time. Be open minded to new ideas. She said if she writes an article about something today and finds out there is something better tomorrow, she will write another article about it. Be flexible. Attention to details. As they say, “the devil is in the details.” You must have balance and if you’re an entrepreneur, she said “dress well and never be sloppy.” Well, at 78 years old, she is fashionable and certainly looked younger.

Her life wasn’t always a bed of roses. She was imprisoned for a time. When asked about it, she simply said she was in the wrong place at the wrong time. “While it wasn’t pleasant, it was not the end of the world.” Her attitude about it said all. She doesn’t dwell on the negatives to bring her down.

At the event, “super woman” Cora Claudio asked how she would like to be remembered and what legacy does she want to leave behind? Martha responded that she doesn’t think about these things and just focus on what she loves doing and always do her best. The products of her efforts are her legacy, she said.

Cora is in charge of the Management Association of the Philippines (MAP) Sustainability committee to help government in the reforestation of the Laguna Lake Watershed area (10 times bigger than Singapore) in the Program on Reforestation with Development for Laguna Lake Watershed (PRD-LLW). The plan is to reforest denuded and idle areas with bamboo and indigenous native trees. Hand in hand is vegetable farming to ensure that there will be short term crops to eat as well as livelihood and profitable business to go with it.

Bamboo is grass and grows so fast. According to “Bamboo King” Ed Manda and Celia Elumba, Department of Science and Technology (DoST) Director for Textiles, kawayan tinik bamboos, eight months to no more than two years old are good for textiles. So in a relatively short term of one year, you can already start harvesting and the beauty is without killing the bamboo which is grass, unlike a tree.

Cora has mobilized partnerships in both private sector experts — such as Tony Oposa, Jun Palafox, Cielito and Pilar Habito, Vince Perez, Jimmy Ladao, Toto Malvar, and Bamboo Queen Kay Jimenez, among others — and government which includes Department of Environment and Natural Resources Secretary Roy Cimatu, DoST Secretary Fortunato dela Pena, Philippine Economic Zone Authority (PEZA) Director General Ching Plaza for PEZA accreditation, and the Development Bank of the Philippines’ Rolly Metin for grants and funding.

So many are passionate about the environment. The formidable group Cora harnessed for the giant task ahead has started moving.

We visited the beautiful Wonder Island Resort in the middle of Laguna de Bay graciously hosted by Rudy Pua and daughter Lanie. The lake is heavily silted due to soil erosion from deforestation and pollution. But there is hope. Working together towards reforestation and sustainability development, we may have a legacy to leave behind.

 

Flor Gozon Tarriela is the Chairman of Philippine National Bank. She is the Liaison Director for Environment of FINEX Foundation. She is former Undersecretary of Finance and the First Filipina Vice President of Citibank N.A. Contact her at ftarriela@yahoo.com.

KPop Calendar (08/30/19)

NU’EST in Manila

URBAN ELECTRO band NU’EST returns with five members, a new album, and a concert tour which is making a stop in the Philippines. PULP Live World brings the band’s members — JR, Aron, Baekho, Minhyun, and Ren — here for the 2019 NU’EST Concert in Manila, which will be on Aug. 31 at the Araneta Coliseum in Quezon City. For details visit www.pulp.ph.

Actor Park Hae-Jin fan meet

KOREAN ACTOR Park Hae-Jin is set to hold his first Philippine fan meeting, “SPARK: Park Hae-Jin Fan Meeting in Manila,” on Sept. 21 at the Araneta Coliseum in Quezon City. Presented by Artist League Manila. All ticketholders will get the chance to give the Korean actor — known for his leading roles in tvN’s Cheese in the Trap and MBC’s Man to Man — a high-five after the program. Tickets to the fan meeting are available through ticketnet.com.ph and all TicketNet outlets nationwide.

Actor Lee Seung Gi fan meet

SOUTH KOREA’s “Ballad Prince,” Lee Seung-Gi, will be holding his “2019 Lee Seung-Gi Asia Fanmeeting in Manila” on Oct. 12, 6 p.m., at the New Frontier Theater in Araneta Center, Cubao. Known for his singing, acting, and hosting, Lee Seung-Gi’s fantasy-drama My Girlfriend is a Gumiho, aired on ABS-CBN in 2011. Most recently he was seen in the fantasy-drama Hwayugi, which also aired on ABS-CBN. This year, Lee Seung-Gi is set to star in a new spy-action drama titled Vagabond. Tickets — which range in price from P4,000 to P9,500 — are available at all TicketNet outlets nationwide and online via www.ticketnet.com.ph. The fan meet is presented by HOOK Entertainment and Applewood.

KPop group show

THE SHOW Good Friends in Manila 2019 will be held on Oct. 5 at the Araneta Coliseum in Quezon City. Among the performers are girl group Momoland, Kim Jae Hwan and Ha Sung Woon. Tickets prices range from P3,000 to P9,500. General ticket selling will start at noon on Sept. 1 at all TicketNet outlets and TicketNet Online. A special pre-selling will happen on Aug. 31. This event is presented by MLD Entertainment and Loun Holdings, organized by DnM Entertainment.

How PSEi member stocks performed — August 29, 2019

Here’s a quick glance at how PSEi stocks fared on Thursday, August 29, 2019.

 

How safe is Manila compared to other cities in the world?

How safe is Manila compared to other cities in the world?

PAGCOR to regulate creditors of casino-players like finance firms

THE PHILIPPINE Amusement and Gaming Corp. (PAGCOR) said Thursday that it will regulate the practice of financing casino players after cases of abduction due to unpaid debts.

“We likewise intend to accredit and regulate casino financiers subject to the implementing rules and regulations on lending companies by the Bangko Sentral ng Pilipinas, Securities and Exchange Commission and other regulatory agencies,” PAGCOR said in a statement.

On Aug. 19, the Philippine National Police Anti-Kidnapping Group (PNP-AKG) arrested a Chinese national in Pasay City for allegedly abducting one of his countrymen.

Recently, four Chinese were arrested by the PNP-AKG for allegedly threatening a fellow Chinese.

Chinese who gamble overseas and in Macau face restrictions in bringing funds out of the mainland and often rely on so-called “junket operators” to provide credit. The junket operators can also enforce collection on the Mainland.

“PAGCOR and the major players in the local gaming industry denounce these criminal acts and we will not sit idly by in the face of these injustices.

There will be strict surveillance in the vicinity of casinos following reports of kidnapping of players,” the agency said.

It added, “PAGCOR believes that while gaming contributes significantly to government revenue, it must not be used as a vehicle for abuse and injustice.”

PAGCOR noted partnership with casino operators and with other government agencies in enhancing surveillance in the near vicinity of casinos.

“PAGCOR, along with our casino licensees, will strengthen our security protocols by enhancing casino surveillance facilities such as facial recognition cameras… (and) information sharing among casino operators on suspected criminals,” PAGCOR said in a statement.

According to police records, at least 120 Chinese suspects were arrested between January 2017 and August 2019 in relation to casino-related abduction. — Vince Angelo C. Ferreras

Wine importers push back against proposed tax scheme in House bill

A BILL to increase the excise tax on alcohol products will effectively “kill” the wine industry, a Senate committee was told.

“The newest version of this bill from the House is actually different from what was presented last week. The newest version threatens to kill the entire wine industry as well as my company,” Calabria Co. Ltd. president and general manager Christopher Quimbo said during a hearing at the Senate ways and means committee.

The committee is debating Senate Bill No. 383, which adopted the proposal of the Department of Finance and the Department of Health, and House Bill No. 1026, which won final approval at the House of Representatives.

Mr. Quimbo said the House version proposes an additional 15% ad valorem tax on wines on top of the specific tax rate that will increase to P60 from P37.9 currently.

“Right now, our company pays P37.9 pesos per liter in tax, which the Senate version increases to P40 per liter,” he said.

“But recently we found out that on third reading, it increases it to 97.5 pesos per liter because it’s a combo tax.”

Premier Wine & Spirits President JP Santamaria and Pablo Garcia Morera of the Spanish Chamber of Commerce the Philippines also pushed back against the ad valorem tax.

“I am aligned with Chris Quimbo on the non-imposition of ad valorem tax on still wines and sparkling wines. Wine is the healthier alternative, and second we don’t actually grow grapes here, it shouldn’t be taxed” Mr. Santamaria said.

He noted the ad valorem tax was also not proposed by the DoF originally.

Mr. Garcia said at the hearing: “With the new proposal, to have an excise tax and ad valorem, on top of that, have the VaT (Value-added Tax), the import tax, it seems quite excessive to impose that.

Finance Undersecretary Karl Kendrick T. Chua said the DoF is “not too concerned” on adding an ad valorem tax on wine products, considering it is only 1% of the alcohol market.

“The House passed a slightly more complicated system, wherein there is a tax on the volume, the specific (tax), and there’s also another tax, the ad valorem, so officially, our position, given that wine is 1% of the total alcohol market, we were not too concerned in creating a very different system,” Mr. Chua said. — Charmaine A. Tadalan

Phase I of Cebu BRT on track for operations by end-2021 — DoTr

THE Department of Transportation (DoTr) said it is on track to achieve operational status for the first phase of the Cebu Bus Rapid Transit (Cebu BRT) by the end of 2021.

In a statement, the DoTr said it is now finalizing the design of the project. The new design will include a separate lane dedicated to the Cebu BRT, shifting from the initial plan that combines dedicated and mixed-traffic lanes for the service.

The update was issued after Cebu City Rep. Raul V. del Mar said in a privilege speech earlier this week that the length of the Cebu BRT has been cut to 13 kilometers from the original 23 kilometers.

“No changes were made on the alignment of the Cebu BRT… [T]o this day, the plan calls for a route of 23 kilometers,” Transportation Undersecretary Mark Richmund M. de Leon said in the statement.

“What was perceived as route reduction was the division of the project into three phases under the new design plan,” he added, explaining that dividing the project into phases would allow for partial operability, or opening selected segments of the project ahead of its full completion.

The first phase of the Cebu BRT is set to open in December 2021. This would cover the stretch from Cebu South Bus Terminal to Capital via Osmeña Boulevard. The next two phases will extend the lanes further to Bulacao and Cebu South Road Properties heading south, and to Talamban to the north.

The next two phases of the Cebu BRT are scheduled for completion in 2025.

“The three-year allowance before the implementation of Phases 2 and 3 while Phase 1 is under construction is to obtain enough time to acquire the necessary Right of Way,” the DoTr said.

Engineering firm Egis International was tapped for the design of Cebu BRT, with the support of the World Bank and the Agence Francaise Developpement (AFD).

Aside from putting up dedicated bus lanes through the Cebu BRT, the government is hoping to implement a Cebu Integrated and Intermodal Transport System to help ease road congestion. — Denise A. Valdez

TESDA says Tulong Trabaho Act left unfunded in 2020 by Budget dep’t

THE Technical Education Skills and Development Authority (TESDA) said Thursday that no funds were allocated to implement the Tulong Trabaho Act, which was signed into law this year.

TESDA Director-General Isidro S. Lapeña said its proposed P19.9 billion budget for 2020 was cut by the Department of Budget and Management (DBM) to P11.85 billion.

“There are major items that are not included in TESDA [for] fiscal year 2020 NEP (National Expenditure Program). One is the Tulong Trabaho Act which was approved by the President on Feb. 22, 2019,” Mr. Lapeña said.

Under Republic Act 11230, the law aims to provide free access to technical-vocational education through a Tulong Trabaho Fund.

The measure states that funds necessary for its implementation “shall be immediately sourced from the TESDA budget in the current General Appropriations Act and hereinafter be included in the GAA of the succeeding year.”

“That is a clear violation of the law. There has to be an appropriation signed by the President. I want to put that on record that the budget for Tulong Trabaho Act must be put in TESDA so that we can implement the law that we just passed,” said Bagong Henerasyon Party-list Rep. Bernadette Herrera-Dy, who filed the bill that became the law during the 17th Congress.

TESDA’s approved budget of P11.85 billion for this year is 6% lower than the P12.55 billion it received in 2019. It remains the agency with the lowest budget allocation in the education sector, as compared to the Department of Education (P551.7 billion) and Commission on Higher Education (P40.8 billion).

“If we have more funding, we can serve more people that need assistance especially the unemployed,” Mr. Lapeña said. — Vince Angelo C. Ferreras

DA taps LANDBANK to administer zero-interest loan for small rice farmers

THE Department of Agriculture (DA) and Land Bank of the Philippines (LANDBANK) signed a memorandum of agreement to extend credit to rice farmers under the Expanded Survival and Recovery Assistance program, which is known as SURE Aid.

“Credit is such as very important strategy to make it possible to develop and grow Philippine agriculture. Credit must be affordable, accessible, and the ease of doing business will be our principle in terms of simplifying the process for the common farmer,” Agriculture Secretary William D. Dar was quoted saying in a statement.

The SURE Aid program targets rice farmers affected by the drop of palay farmgate prices. The program allows a one-time zero-interest loan of P15,000 for farmers tilling one hectare and below. The loans will be available on Sept. 1.

Payable over eight years, the loan entails payments of P1,875 annually.

LANDBANK will administer the P1.5 billion fund for the DA Agricultural Credit Policy Council (DA-ACPC). DA-accredited service channels will also be tapped by the bank to disburse loans to eligible beneficiaries, particularly the unbanked.

The National Food Authority (NFA) will also buy the produce of the farmers who availed of the loan.

“LANDBANK is fully on board to work with you in making great things happen for our farmers and fishers,” LANDBANK President Cecilia C. Borromeo said.

After the implementation of the Rice Tariffication Law on March 2019, domestic farmgate prices have dropped due to competition from cheaper imported rice. — Vincent Mariel P. Galang

Energy efficiency sector wants to be classed as infrastructure

THE PHILIPPINES should start viewing energy efficiency as a new infrastructure asset class that the government can use as an added resource in planning its energy mix, or the ideal combination of resources to support its power requirements.

“We’re not looking at a figure yet. We want to see how — any energy market, whether the Philippines or otherwise — can quantify targets. So that is still a work in progress. Even the US is struggling, even Japan is struggling,” said Alexander Ablaza, president of the Philippine Energy Efficiency Alliance (PE2), in a chance interview.

In a separate statement on Thursday, he said the local economy needs to mobilize $243 billion in energy efficiency capital to harvest 45,900 megawatts from the demand-side of the Philippine energy market in the next 21 years.

“We’re not looking at a figure yet,” he said when asked to quantify the future share of energy efficiency in the energy mix.

The idea is to use the energy harnessed by introducing energy efficiency and conservation measures to offset new coal-fired power plants.

“So the next five to 10 years, the challenge of the global movement right now — because the IEA (International Energy Agency) has formed a high-level commission for urgent action on energy efficiency — is how do we pave the way so the energy mix planning of any country fully integrates energy efficiency as a resources,” Mr. Ablaza said on the sidelines of the three-day Philippine Infrastructure Conference at Manila Marriott Hotel in Pasay City.

He said the independent IEA commission will examine how progress on energy efficiency can be rapidly accelerated through new and stronger policy action. He said through the last decade, the agency has become more convinced that, more than any single fuel, energy efficiency has a central role to play in meeting global sustainable energy goals.

He said IEA analyses have shown that with the right policies, the global economy could double in size by 2040 while still maintaining broadly the same level of energy use as today.

He said such policies would enable the world to achieve more than 40% of the emissions cuts needed to reach international climate goals using available cost-effective technologies.

“Taking baby steps, UK and the rest of EU have already classified energy efficiency as infrastructure so that’s the first step, and that’s what we should do here,” Mr. Ablaza said.

On April 12, 2019, the Philippines passed Republic Act No. 11285 or the Energy Efficiency and Conservation Act.

“The President’s approval of the bicameral-endorsed bill of the 17th Congress has finally shifted the energy-consuming market from the inertia of the 29-year voluntary market to one of policy-driven market transformation,” PE2 said in a statement on Thursday.

The organization said that with the new law, “the Philippines finally rejoined the global movement of accelerating energy efficiency markets.” — Victor V. Saulon

FIBA World Cup unfurls this weekend in China

By Michael Angelo S. Murillo
Senior Reporter

THE BASKETBALL world turns its attention to China beginning this weekend as the 2019 FIBA World Cup unfurls.

A two-week event happening from Aug. 31 to Sept. 15, the hoops spectacle gathers 32 of the best basketball nations in the world, including 20 in the top 30 in the current FIBA rankings with top seed the United States.

The Philippines, ranked number 31 in the world, is also competing in this edition of the World Cup, the second straight time that it has qualified after 2014 in Spain.

For the tournament, the 32 teams were divided into eight groups of four with the grouping determined by the drawing of lots held in March this year.

In the first round of group play, from Aug. 31 to Sept. 5, the games will be played in eight different cities in China with each team playing its group mates once with the top two squads advancing to the next round.

The second round, from Sept. 6 to 9, will have four groups of four made up of the teams that advanced from the first round, again playing each other once. The top two teams from these groups will qualify for the final knockout phase from Sept. 10 to 15.

The United States, the defending World Cup champion, begins its campaign in Group E, along with Turkey (17th ranked), Czech Republic (24) and Japan (48).

It will once again be bannered by National Basketball Association stars, led by All-Stars Kemba Walker of the Boston Celtics and Khris Middleton of the Milwaukee Bucks. Also part of the team are rising stars Donovan Mitchell of the Utah Jazz and Jayson Tatum of the Celtics. Coach of the team is Gregg Popovich of the San Antonio Spurs.

Team USA saw some top NBA stars beg off from national team duty for varying reasons, leaving not a few seeing it as vulnerable come tournament time.

But Mr. Popovich remains upbeat of their chances but recognizes they have their work cut out for them in the World Cup.

“We have to play our best [in the World Cup]. This is group of guys works very hard. We are definitely a better team now that when we started,” the US coach said in the lead-up.

Games in Group E will be hosted by Shanghai.

GILAS PILIPINAS
The Philippine team, meanwhile, begins its World Cup bid in Group D along with Serbia (4), Italy (13) and Angola (39).

Carrying the cause for Gilas Pilipinas are Philippine Basketball Association stalwarts June Mar Fajardo, Japeth Aguilar, Gabe Norwood, Paul Lee, Troy Rosario, Roger Pogoy, Raymond Almazan, Mark Barroca, Kiefer Ravena, CJ Perez and Robert Bolick, backstopped by naturalized player and former NBA campaigner Andray Blatche. Gilas coach is Yeng Guiao.

Gilas said it is expecting another uphill battle in the World Cup but nonetheless is determined to make the country proud and give its best.

“[The] Guys are competing and take a lot of pride in their opportunity to represent the flag. The goal is to continue to prove that we are world-class, and Lord willing, improve on our finish from the previous World Cup,” said Mr. Norwood, who was also part of the team back in 2014.

Games in Group D will be hosted by Foshan with the Philippines taking on the Danilo Gallinari-led Italian squad first on Aug. 31.

President Rodrigo R. Duterte, who is in China on official business, is expected to watch Gilas play Italy.

The Philippines then plays Nikola Jokic and Serbia on Sept. 2 then Angola on Sept. 4.

Gilas Pilipinas games can be seen over TV5 and ESPN5.com.

The rest of the groupings has Venezuela (20), Poland (25), host China (30) and Ivory Coast in Group A (venue Beijing); Argentina (5), Russia (10), Korea (32) and Nigeria (33) in Group B (Wuhan); Spain (2), Puerto Rico (16), Iran (27) and Tunisia (51) in Group C (Guangzhou); Greece (8), Brazil (12), Montenegro (28) and New Zealand (38) in Group F (Nanjing); France (3), Dominican Republic (18), Germany (22) and Jordan (49) in Group G (Shenzhen); and Lithuania (6), Australia (11), Canada (23) and Senegal (37) in Group H (Dongguan).

Analyst says Uthok fight a step in right direction for Magsayo

By Michael Angelo S. Murillo
Senior Reporter

ON AUG. 31 undefeated Filipino boxer Mark “Magnifico” Magsayo makes his ring return, taking on Thai veteran Panya Uthok; a bout that is a step in the right direction, one local boxing analyst said, in his push to jump-start his temporarily halted career.

Mr. Magsayo (19-0) is to take on Mr. Uthok (53-6) in the headlining fight of “Pride of Bohol” at the Bohol Wisdom Gymnasium in Tagbilaran for the vacant WBC Asia featherweight title and IBF Pan Pacific featherweight title.

It will be a homecoming for Bohol native Magsayo, 24, who last fought in Tagbilaran in November 2017 where he retained the WBO International featherweight belt by defeating Japanese Shota Hayashi by unanimous decision.

The event is also hoped to get Mr. Magsayo’s boxing career going anew after a two-year lull from the sport.

“Mark Magsayo knows for a fact that he has a talent in the sport, but in order to maximize that talent and reach his full potential, he has to fight the best boxers in the market, not just a hand-me-down opponent. Leaving ALA Boxing a few years ago was a gamble for him, but I can see where he is coming from,” said boxing analyst Nissi Icasiano when asked by BusinessWorld for his thoughts on Mr. Magsayo’s upcoming fight.

“I will concur that Magsayo has the wares to strut, but he is untested. This venture might be a step in the right direction,” Mr. Icasiano added.

Mr. Magsayo saw his career go idle for a long time following his hard-fought victory over Mr. Hayashi with contractual dispute with ALA Promotions, his former handler.

He made his ring return in April this year in Singapore fighting under Vladimir Boxing Promotions, knocking out Indonesian Erick Deztroyer in the fourth round for the win.

Seeing where the Filipino boxer is coming from, Mr. Icasiano underscored the importance of the Uthok fight to Mr. Magsayo. “For two years, he (Magsayo) was inactive. It’s a big blow to his career, especially prior to that he was busy, having a minimum of three fights per year. Plus, inactivity caused him to lose his position in the rankings. Against a former world champion like Panya Uthok, if he wins, it will definitely freshen up his name in the market. It’s not an instant ticket to a title shot, but it could lure big names in his next in-ring outings,” the analyst said.

Mr. Icasiano went on to say that he sees some things going for Mr. Magsayo against his Thai opponent which could well be the difference in the Filipino emerging on top.

“Magsayo’s opponent in this fight no longer possesses the threat that he once had when he was a bantamweight. Though he managed to carve a unanimous decision win against Filipino slugger Carlo Magali last April, Magsayo’s youth will play a big factor. He has the speed and the size. Of course, Magsayo’s crisp in his punches will make it difficult for Panya Uthok,” Mr. Icasiano said.