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DoE seeking comment on renewable energy dev’t zones

THE Department of Energy (DoE) is soliciting comment on a draft circular that will identify “competitive renewable energy zones” (CREZ) to help it direct the country’s power transmission development to areas where potential indigenous resources are located.
In the draft circular, the DoE will define a CREZ process in which it will identify the renewable energy (RE) zones to help in overcoming development obstacles such as transmission constraints and regulatory barriers to financial investment by the private sector.
“[I]n planning for new transmission infrastructure and/or upgrades to existing transmission infrastructure, the [DoE] deems it necessary to ensure the cost-effective delivery of electricity generated in regions with abundant RE resources in order to attain sustainable, stable, secure, sufficient, accessible, and reasonably-priced electricity supply and services,” the department said in the proposed circular.
The DoE said the ideal candidate areas for CREZ are “geographic areas characterized by high-quality, low-cost RE potential in addition to high levels of private-sector developer interest.”
In the selection process, the department will also identify a set of transmission or upgrade scenarios that will enhance the delivery of energy from the candidate RE zones.
The process will include an analysis of the “economic, operational, environmental, and other costs and benefits associated with the required transmission enhancement scenarios.”
It will also specify the cost-effective transmission line enhancements proposed to be included in the transmission development plan, as reviewed and approved by the DoE.
The DoE said the focus of the CREZ analysis is power interconnections in Luzon, Visayas and Mindanao.
Under the circular, the DoE will create a technical advisory committee, which is chaired by the DoE secretary or a designated representative. Its members include directors of some of the department’s bureaus, along with the heads of the National Renewable Energy Board, National Transmission Corp., National Electrification Administration, and National Grid Corp. of the Philippines. — Victor V. Saulon

The latest improvements to the Conceptual Framework

2018 is looking to be a busy year as far as financial reporting changes are concerned. There will be two major new standards adopted this year — one for revenue recognition and another one for financial instruments. Furthermore, it is in 2018 that the International Accounting Standards Board (IASB), the accounting standard-setting body, issued a revised version of the Conceptual Framework for Financial Reporting.
Although the Conceptual Framework is not a standard by itself, and does not override the provisions of any standard, its importance nevertheless cannot be downplayed as it assists the IASB in developing the standards. It also helps the financial statement preparers and users better understand and interpret these standards. In addition, the Conceptual Framework can be used as a reference by preparers who are trying to develop accounting policies but cannot find any applicable standard currently in place.
Prior to these improvements, the last revisions to the Conceptual Framework were issued in 2010. However, the 2010 Conceptual Framework was criticized for various reasons. Some critics pointed out that it lacks clarity, while others said that it excludes certain important concepts and that it does not support the current thinking of the IASB. With these new changes, the IASB aims to underpin the key concepts of the Conceptual Framework with sufficient details, which the IASB can use to develop standards while at the same time, help others better interpret and apply the standards.
The revisions include several new concepts, provide clarifications on some key concepts and update the definitions and the criteria for recognizing assets and liabilities.
NEW CONCEPTS IN THE REVISED CONCEPTUAL FRAMEWORK
The following are brief descriptions of the new concepts introduced in the revised Conceptual Framework:
• Description of the reporting entity – Although the IASB has admitted that it is not in a position to dictate who is required to prepare financial statements, the revised Conceptual Framework provides general guidance on a reporting entity (i.e., an entity that is either required or has opted to prepare financial statements and is not necessarily a legal entity). Identifying a reporting entity (or its boundary) may be difficult particularly if it is not a legal entity. In such a case, the primary consideration should be the users of the financial statements and what information they need from the reporting entity. Thus, even if the Conceptual Framework does not dictate what entity should prepare financial statements, it does clarify that a reporting entity cannot be arbitrarily identified.
• Measurement – Similar to the 2010 Conceptual Framework, the revised one does not mandate any specific measurement basis. The new framework does, however, identify and describe two measurement bases: the historical cost measurement and the current value measurement (which includes current cost, value in use and fair value), as well as the factors to consider when selecting such basis.
• Presentation and disclosure – This revision reflects the IASB’s intention of ensuring better and more effective communication of financial statement information, since this will make the information more relevant to the financial statement users. The revised Conceptual Framework introduces new concepts and guidance on how information, specifically income and expenses, should be presented and disclosed in the financial statements.
• Derecognition – The revised Conceptual Framework defines derecognition as “the removal of all or part of a recognized asset or liability from an entity’s statement of financial position.” When an entity derecognizes an asset or a liability, the aim is to always faithfully represent which assets or liabilities (or parts thereof) were retained after the transaction that gave rise to derecognition occurred.
UPDATES AND CLARIFICATIONS IN THE REVISED CONCEPTUAL FRAMEWORK
Other than the new concepts, several sections or chapters were also revised that include:
• Definitions of an asset and a liability – Instead of the asset and liability being defined as the ultimate inflow and outflow (respectively) of economic benefits, assets are now considered economic resources while liabilities are now looked on as the “obligation to transfer economic resources.” The phrase ‘expected flow’ was also deleted, emphasizing the fact that assets and liabilities may be recognized even if future inflow or outflow of economic benefits are not certain or even likely. In addition, the IASB also included the criterion “no practical ability to avoid” in the definition of the liability.
• Recognition of assets and liabilities – This is a major change from the 2010 Conceptual Framework. The 2010 version was more focused on recognition based on the probability of future inflows or outflows of economic benefits. The revised version talks about the qualitative side of capturing or recognizing assets, liabilities, income and expenses and emphasizes that recognition of these elements should only be done if they will result in relevant information and faithful representation.
The IASB also reintroduced some concepts to ensure consistency and minimize confusion on their application. One such reintroduced concept is prudence, which is defined as “the exercise of caution when making judgments under conditions of uncertainty.”
Another reintroduced concept is “substance over form”, with the IASB reinstating an explicit reference to the need to “faithfully represent the substance of the phenomena that it purports to represent.” Still another is the concept of stewardship, which was reinstated in recognition of the fact that financial statement users need to assess management’s stewardship over the resources of the entities through the information contained in the financial statements.
Since the revisions are effective immediately for the IASB and its Interpretation Committee or IFRIC, we will start seeing these changes reflected on the IASB’s and IFRIC’s future discussions and projects. Preparers who have developed or will be developing accounting policies based on the Conceptual Framework should consider these changes effective Jan. 1, 2020 and should note that these will be applied retrospectively. While the impact may not be significant or immediately felt by the entities and the preparers of the financial statements, entities should familiarize themselves with these new concepts and revised definitions as these may result in future changes to accounting policies, measurement of assets, liabilities, income and expenses and recognition and derecognition of assets and liabilities.
This article is for general information only and is not a substitute for professional advice where the facts and circumstances warrant. The views and opinion expressed above are those of the author and do not necessarily represent the views of SGV & Co.
 
Dhonabee B. Señeres and Ma. Emilita L. Villanueva are Partners of SGV & Co.

Ateneo narrowly misses Jones Cup podium finish

By Michael Angelo S. Murillo
Senior Reporter
THE quest of the Ateneo Blue Eagles to finish in the top three of the 2018 William Jones Cup fell short on Sunday after they bowed to Iran B on the final day of competition, 70-63.
Needing just a victory to a get a shot at placing on the podium of the annual tournament in Taiwan, the Blue Eagles pushed the Iranians to the limit but just could not complete the task in the end to wind up at fourth place after nine days of competitive basketball.
The Blue Eagles got off to a slow start against Iran, feeling the initial effects of playing anew less than 24 hours since their last game.
They, however, would eventually find their groove, with Matt Nieto, Thirdy Ravena and Isaac Go leading the charge.
Ateneo was just down by a solitary point, 15-14, at the end of the first quarter.
In the second canto, Iran regained some bearing, opening with a 23-18 lead in the early goings.
But the Blue Eagles soared thereafter, going on an 11-0 run to build a 29-23 cushion with four minutes left in the quarter.
Mike Nieto then waxed hot from three-point land to help Ateneo to a 39-31 advantage at the halftime break.
The Iranians exploded to start the third quarter with Vahid Dalirhazan and Rasoul Mozafarivanani finding the mark from beyond the arc.
They opened things with a 10-2 blast to level the count at 41-all with three minutes lapsing in the quarter.
It was a leverage that they would use to move on and complete a turnaround that saw them holding a 54-50 lead heading into the final 10 minutes.
With the outcome of the match still wide open at the beginning of the fourth quarter, both teams jockeyed for position to gain the momentum for the finishing kick.
The score stood at 60-57 with Iran ahead with five minutes left in the contest.
Ateneo tried to claw its way back but Iran would find ways to keep the Blue Eagles at bay as it held on for the victory.
Dalirzahan led Iran with 26 points with Mozafarivanani adding 16 points and eight assists.
Matt Nieto top-scored for Ateneo with 14 points while Ravena added 12.
Kakou Kouame finished with 11 points and 14 boards for the Tab Baldwin-coached Blue Eagles.
3D Global Sports of Canada (7-1), Iran B (7-1) and South Korea (6-1) were expected to finish ahead of Ateneo. South Korea was to play its final game against Chinese Taipei Blue (4-3) later yesterday.
STILL A SUCCESS
Despite falling short of finishing in the top three, Ateneo’s Jones Cup campaign was still a success.
The first full-collegiate team to fly the Philippine colors in the annual tournament, the Blue Eagles had their share of doubters over their ability to compete in Taiwan.
But Ateneo would prove them wrong at the onset, making known that they were out not only to be mere participants in the Jones Cup.
The Blue Eagles opened their bid on July 15 with a huge win over Chinese Taipei White, 87-64.
But they would lose back-to-back to South Korea, 90-73, and 3D Global Sports, 86-78, in their next two assignments.
Undeterred of the early tumble it had, Ateneo responded with four straight victories after, defeating Japan, Indonesia, LSU-Atletas of Lithuania and Chinese Taipei Blue in that order.
The victory over Chinese Taipei Blue, 77-76, on July 21 was fashioned out in dramatic fashion with guard Matt Nieto draining the game-winning three-pointer.
Down, 76-74, with 3.1 seconds left on the clock, Ateneo set up Nieto for the dagger trey off an inbound play to stun the hometown team and crowd and propel itself to a good position to have a podium finish.
The fourth place of Ateneo tied the finish in 2017 of the Philippine team composed of Gilas Pilipinas players like Kiefer Ravena, Christian Standhardinger, Mac Belo, Kevin Ferrer, Roger Pogoy and then Philippine Basketball Association import Mike Myers.

Reigning champ Spieth in 3-way share of Open lead as Tiger roars

CARNOUSTIE — Jordan Spieth is dreaming of retaining the Claret Jug after a standout third round at the British Open on Saturday left him in a share of the overall lead with fellow Americans Xander Schauffele and Kevin Kisner.
The trio were locked together on nine under par at the end of a thrilling day in perfect conditions at Carnoustie, but at least a dozen other players are still right in contention, among them Tiger Woods after he rolled back the years on the Scottish links.
Spieth had started the day at three-under for the tournament, but made his intentions clear with a stunning eagle at the par-4 first hole — the rest of his round featured four birdies and not a single dropped shot for a six-under-par 65.
Now he finds himself primed to follow up his victory at Royal Birkdale 12 months ago and become the first golfer to retain the British Open title since Padraig Harrington a decade ago.
“I feel like my game’s in good shape. It’s progressed nicely. We’ve got pretty much a new tournament tomorrow,” said Spieth, who had popped into Carnoustie town center for a haircut before his round.
Spieth would never admit if that was in order to look smart for the victory photos on Sunday, and in any case he is not getting ahead of himself given how tight the leaderboard is, and that the wind is finally expected to pick up.
“I’m not ahead of myself at all. I just wanted to give myself a chance after the first round (he was at one-over), and I’ve done well over the two days,” he added.
Kisner, with whom Spieth is sharing a house in Scotland this week, had started the day in a share of the lead with Zach Johnson and cemented his strong position with a bogey-free 68.
“Today was the most solid tee to green I’ve played all week,” said Kisner, who has never won a major, although he also led going into the final round of last year’s US PGA Championship before finishing tied for seventh.
Meanwhile Schauffele, at 24 the same age as Spieth, shot a 67 to considerably boost his own chances of a first major victory.
With Kevin Chappell the nearest challenger to the leading trio on seven-under, the prospects of a sixth consecutive major being won by an American are high, but there is still hope for the European contingent.
Italy’s Francesco Molinari had a bogey-free 65 and is six-under, while Sweden’s Alex Noren is at five-under along with Rory McIlroy and Tommy Fleetwood.
The latter two were unable to convert positions of strength, with McIlroy’s 70 featuring four bogeys and Fleetwood having an inconsistent 71.
“We’ll see. The wind is supposed to pick up, so that might be a helping hand,” said Fleetwood of his chances of becoming the first English winner of the Claret Jug since Nick Faldo in 1992.
WOODS ‘LIKE A MYTHICAL CREATURE’
The group on five-under also includes Johnson and Woods, who captivated huge galleries as he shot a 66, arguably his best round in a major for a decade.
Woods even had luck on his side at the 18th, when his drive landed a foot away from the Barry Burn only to bounce away from the water to the relative safety of the long grass — he then salvaged a par after a tremendous approach shot.
“That was good. I played well today. I really did. I hit a lot of good shots. I really didn’t feel like I really made a bad swing until 18,” he said.
Woods is still a huge draw, with his playing partner, South Africa’s Shaun Norris saying it was “like playing with a mythical creature,” and if he can emerge from the pack to win the title on Sunday it would probably be his greatest victory yet.
History shows that almost anything can happen at Carnoustie, where Paul Lawrie won in a playoff in 1999 after starting the day 10 shots back.
Even those in the large group at four-under will still believe in their chances, including England’s Justin Rose, who produced a seven-under-par 64 early in the day.
That equaled the lowest round in an Open at Carnoustie set by Steve Stricker and Richard Green here in 2007. — AFP

San Miguel ousts Alaska to make another finals appearance

By Michael Angelo S. Murillo
Senior Reporter
THE defending champions San Miguel Beermen are once again back in the Philippine Basketball Association Commissioner’s Cup finals after closing out the Alaska Aces in Game Four of their best-of-five semifinal series, 104-99, on Sunday night at the Smart Araneta Coliseum.
Deprived of a chance for a sweep in their previous game, the Beermen made sure not to fall for a second straight time and forced to a sudden death by outlasting the Aces in a tightly fought match.
Knowing the significance of the game, San Miguel and Alaska had it nip-and-tuck to start the contest.
The two teams were knotted at 9-all in the first six minutes of the opening quarter before Alaska outgunned San Miguel, 14-11, the rest of the way to take control of the first 12 minutes, 23-20.
The back and forth continued in the second quarter.
San Miguel built an early cushion only to see Alaska charge back, levelling the count at 41-all at the 1:15 mark.
June Mar Fajardo gave the Beermen a two-point lead after, 43-41, off two free throws.
But Alaska would have the last laugh as the opening half drew to a close after Vic Manuel drained a desperation three-pointer with a second to go to hand back the lead to the Aces, 44-43, at the half.
The Beermen began to flex their muscles to start the third quarter, going on a 14-6 run to build a nine-point lead, 57-48, by the eight-minute mark.
Alaska though narrowed the gap in the next three minutes, 61-59, with import Diamon Simpson making the offense of the Aces humming.
San Miguel eventually survived the Alaska fight back to stay on top after three quarters, 76-69.
Smelling blood, the Beermen opened the final canto with a 4-1 blast to extend their lead to double-digits, 80-70, with 10:08 to go in the game.
Alaska refused to be left behind as guard Simon Enciso rallied the Aces back to within four points, 94-90, with 2:50 left.
But San Miguel was not to budge easily, scoring three points to extend its lead to seven, 97-90, with a minute left.
Mr. Manuel scored for the Aces to cut their deficit to five points, 97-92, only for Alex Cabagnot to frustrate Alaska with a triple that stretched their lead anew to eight points, 100-92, with 34 ticks left.
Alaska made one last run, coming to within three points, 102-99, with four seconds remaining but could not go any closer than that as San Miguel went for the closeout.
Mr. Fajardo finished with 26 points and 12 rebounds to lead the Beermen with import Renaldo Balkman adding 23 points and 16 rebounds of his own.
Mr. Cabagnot had 18 points and nine assists while Chris Ross wound up with 17 points.
Mr. Simpson, meanwhile, paced Alaska with 24 points and 21 rebounds while Mr. Manuel had 20 markers.
Mr. Enciso came off the bench for 19 points and seven assists for the Aces.
“It was not just me. Credit to my teammates for stepping up as well after we had slow start to the game,” said Mr. Fajardo, named co-player of the game along with Mr. Ross, following their victory.
“Good thing we were able to get this win so as not to make it harder for us in a Game Five had Alaska won,” he added.
The Beermen now await the winner of the other semifinal series between the Barangay Ginebra San Miguel Kings and Rain or Shine Elasto Painters. The Kings hold a 2-1 series advantage entering Game Four today at the Smart Araneta Coliseum.

Tiger turns back clock at British Open with battle for Claret Jug wide open

CARNOUSTIE — Tiger Woods chose the third round of the British Open on Saturday to produce one of his best rounds of golf in a decade and climb right into contention on a packed leaderboard at Carnoustie.
The 42-year-old has not won a major since 2008, his career stalling due to personal problems and fitness issues, but there had been a feeling that he could compete for the Claret Jug this weekend and his third-round 66 leaves him in with a chance at five under par overall.
Followed around the Scottish links by huge crowds and a circus of journalists and photographers, the 14-time major winner was at one point in a share of the lead after claiming a sixth birdie of the day at the 14th hole.
He lost some momentum with a bogey at the short 16th but had luck on his side at the last when his drive landed a foot away from the Barry Burn only to bounce away from the water to the relative safety of the long grass — he then salvaged a par after a tremendous approach shot.
“That was good. I played well today. I really did. I hit a lot of good shots. I really didn’t feel like I really made a bad swing until 18,” he said.
“I really felt like I had control of the golf ball today. And on top of that, I made some longer putts, which was nice.”
The problem for Woods is that he is just one of at least 20 players who will consider themselves contenders to dethrone Jordan Spieth, last year’s Open winner at Royal Birkdale.
Indeed, Spieth is right in the mix himself, along with fellow Americans Kevin Kisner and Zach Johnson, who shared the overnight lead on six under par.
They did not go out until 4 p.m. local time (1500 GMT), meaning that the Carnoustie galleries could expect more twists and turns well into a fine summer’s evening on Scotland’s North Sea coast.
Shortly after Woods finished his round, Italy’s Francesco Molinari seized the clubhouse lead on six under par after a superb, bogey-free round of 65.
Molinari is mindful of an expected change in the weather conditions for the last day, with the wind that can be so damaging in these parts finally expected to make its presence felt.
ROSE MAKES HAY
As good as his round was, it was bettered earlier on Saturday by Justin Rose, the Englishman producing his best ever round in a major to appear on the leaderboard.
His seven-under-par 64 equaled the lowest round in an Open at Carnoustie set by Steve Stricker and Richard Green here in 2007 and left him at four-under for the championship.
Rose’s blemish-free effort was capped by birdies at the last two holes, including one after a stunning approach shot onto the 18th green.
It was not quite good enough to trouble Tommy Fleetwood’s overall course record of 63, set last year at the Dunhill Championship, but it allowed him to retain some hope of becoming the first English winner of the Claret Jug since Nick Faldo in 1992.
“I felt like it was a typical setup for a moving day today. So it was nice to make that move,” said the 37-year-old, who only made the cut thanks to a birdie at the last on Friday. — AFP

Barangay Ginebra Kings shoot for finals ticket

THE Barangay Ginebra San Miguel Kings shoot for direct entry into the Philippine Basketball Association (PBA) Commissioner’s Cup finals when they collide with the Rain or Shine Elasto Painters today in Game Four of their best-of-five semifinal series.
Set for 7 p.m. at the Smart Araneta Coliseum, the Kings try to close out the Elasto Painters and make their fourth finals appearance in the last six PBA conferences.
Barangay Ginebra put itself on the cusp of the Big Dance after surviving a ferocious fight back by Rain or Shine in the fourth period of Game Three on Saturday.
Dominated the game in the first half, the Kings struggled big time in the second half that saw them nearly lose a lead of as much as 25 points.
Import Justin Brownlee though played another solid all-around game to help his team escape with the 75-72 victory, and, more importantly, the 2-1 series lead.
Rain or Shine was able to come within two points, 74-72, with nine seconds remaining after trailing throughout the contest.
It still had a chance to tie the count after Kings guard LA Tenorio split his free throws with six seconds to go and the score at 75-72.
Unfortunately for the Elasto Painters though, two three-point attempts by James Yap as time expired failed to hit their mark, sending them to the defeat.
The victory preserved the brilliant play of Mr. Brownlee, who finished with 44 points, 15 rebounds, six assists and five steals, apart from getting the Kings to a great start and making big plays down the stretch.
LA Tenorio was the other Barangay Ginebra player in double digits with 13 points.
Rain or Shine import Reggie Johnson, meanwhile, struggled to 13 points on five-of-19 shooting but had 22 rebounds.
“Rain or Shine made a brilliant comeback in the second half. Coach Caloy [Garcia] did a good job in making his team bounce back after a tough first half. We had a lot of mental mistakes in the second half and we’re just lucky to have hung on for the win,” said a relieved Barangay Ginebra coach Tim Cone in the postgame press conference following Game Three.
But Mr. Cone said the way they handled the challenge of Rain or Shine left much to be desired and that they have to do something about it so as not to have a repeat of it.
“That’s something we have to talk about, prepare for because we didn’t respond well,” Mr. Cone said.
The winner of the Barangay Ginebra-Rain or Shine series takes on the victor of the semifinals between the San Miguel Beermen and Alaska Aces.
San Miguel and Alaska were to play Game Four of their series later yesterday with the Beermen holding a 2-1 series lead. — Michael Angelo S. Murillo

SBP saddened by FIBA sanctions but vows to do better — Sonny Barrios

By Michael Angelo S. Murillo
Senior Reporter
THE much-awaited decision by world basketball governing body FIBA on the melee that happened between the Philippines and Australia on July 2 during the third window of the FIBA World Cup Asian Qualifiers final came out last Thursday (Manila time), that had the organization meting out heavy fines and suspensions to the parties involved.
In the decision, the FIBA Disciplinary Panel, after thorough evaluation of the incident, decided to impose fines and other sanctions on the national federations of the Philippines and Australia over the brawl that erupted in the third quarter of their qualifier game that led to the abrupt ending of said match, apart from handing down suspensions to 13 players and two coaches.
The Samahang Basketbol ng Pilipinas (SBP), the country’s basketball federation, was asked to pay a disciplinary fine of 250,000 Swiss francs (roughly P13.4 million) over “the unsportsmanlike behavior of its delegation members and of its public, as well as for insufficient organization of the game.”
In a press conference held at the PLDT headquarters in Makati following the release of the FIBA decision, SBP officials lamented the sanctions and fines given to it, believing that the group did its best in organizing the game until the unfortunate incident happened, but nonetheless manning up to it and vowing to do better in its next hosting duties.
“We’re definitely saddened by it [decision] that they are looking at it that way. But we fully support FIBA with its decision. We’re not wavering in our support to it. We accept whatever decision they have come up with on the particular case,” said SBP Executive Director Sonny Barrios when asked by BusinessWorld on how the SBP was viewing the decision of FIBA to sanction them.
“It is something, I personally, am not happy about. In SBP we always try to give our best. In fact, just a few weeks before [the incident] FIBA commended us for the excellent hosting of the FIBA 3X3 World Cup. They even came out with a release about it. So for them to say that on this one we fell short it is something we don’t like to hear. That’s how the ball bounces so to speak. We’ll have to do better next time around,” he added.
The next home game of the Philippines in the FIBA World Cup Asian Qualifiers will be against Qatar on Sept. 17 which will be played behind closed doors as directed by FIBA and part of the sanctions given to the national team and federation.
Also part of the FIBA decision was the suspension of Gilas players Japeth Aguilar and Matthew Wright (one game each); Terence Romeo, Jayson Castro William, Andray Blatche and Troy Rosario (three games each); Roger Pogoy, Carl Bryan Cruz and Jio Jalalon (five games each); and Calvin Abueva (six games) for their involvement in the melee.
Gilas assistant coach Joseph Uichico was suspended for three games for unsportsmanlike behavior while head coach Vincent ‘Chot’ Reyes was suspended for one game and asked to pa a disciplinary fine of 10,000 Swiss francs (P534,900) for “inciting unsportsmanlike behavior.”
On the part of Australia, players Chris Goulding (one game), Thon Maker (three games) and Daniel Kickert (five games) were suspended for unsportsmanlike behavior.
Basketball Australia was asked to pay a disciplinary fine of 100,000 Swiss francs (roughly P5.3 million) for the unsportsmanlike behavior of its players and for abusing and/or tampering of equipment, after having removed floor stickers from the court on the eve of the game.
FIBA said money from the fines will be used to support the “Basketball for Good” social program launched by the International Basketball Foundation (IBF).

Valenzuela finally puts one over Batangas; San Juan stays on top

VALENZUELA found a perfect time to finally beat inaugural season champions Batangas City.
A more focused Valenzuela Classic squad came out to play a disoriented Batangas City Athletics on Saturday night at the Caloocan Sports Complex as the CDO Idol Cheesedog-backed team hammered out a 78-66 triumph.
San Juan Knights coasted to their fourth straight win, but not after surviving a late charge by home team Caloocan Supremos, 81-77, in the second game. The Knights remained undefeated after four games to keep solo lead in the 26-team cast.
But Valenzuela’s win was a breakthrough. It was the first win in four tries for the Classic over the Tanduay-sponsored Athletics since last season. Batangas City defeated Valenzuela in last season’s semifinal round.
But the Chris Gavina-mentored Classic came out prepared this time.
“We only had two days break, but for eight days, we’ve been preparing hard for our game against Batangas City. We’ve watched the films. We’ve devised plans on how we can become quicker. It feels great to finally get that win against this tough Batangas team,” Mr. Gavina told BusinessWorld.
Chris de Chavez led the way for the Classic with 22 points, but defense proved to be the biggest factor in the team’s win against one of the most explosive teams in the tournament.
Valenzuela held Batangas City to a paltry 32% shooting from the field (22-of-68) with ex-pro Bong Galanza pacing the inaugural champions with 12 points.
Jhaymo Eguilos, Batangas City’s main man in the middle, was limited to eight points.
Even the Athletics’ usually dependable guards struggled big time as Lester Alvarez made only one-of-seven shots from the field while Teytey Teodoro only had five on two-of-nine shooting. — Rey Joble

Vettel celebrates home pole in Hockenheim, ‘shame’ for Hamilton

HOCKENHEIM, GERMANY — Sebastian Vettel said it was “a shame” that Lewis Hamilton was unable to fight him for pole position in Saturday’s qualifying for the German Grand Prix.
And, he added, “I mean it.”
Two weeks after the acrimonious aftermath to his victory for Ferrari at the British Grand Prix, the championship leading German was careful not to gloat over his title rival’s misfortune.
A distraught Hamilton, like Vettel seeking a fifth world championship, limped out in the first qualifying session when his Mercedes car broke down with a hydraulics failure.
“Obviously, we saw, but I don’t know what exactly happened,” Vettel told reporters after the session. — AFP

Folayang seeks to exorcise ghost of past loss in Manila

THE last time Filipino mixed martial arts fans saw Eduard “Landslide” Folayang fight on home turf it was a devastating one as he was the recipient of a thunderous knockout loss that saw him lose the ONE Championship lightweight title in the process.
It is something the Baguio native hopes to cast out as he fights anew in Manila on July 27 at “ONE: Reign of Kings” happening at the Mall of Asia Arena.
Mr. Folayang (19-6) will take on Russian newcomer Aziz Pahrudinov in the undercard for Reign of Kings.
It will mark the first time that the Filipino fighter will take the ONE cage here in Manila after being knocked out in the second round by Martin “The Situ-Asian” Nguyen in November last year in their crossover fight.
The loss saw Mr. Folayang lose his lightweight gold and Mr. Nguyen win his second world title, in addition to the featherweight belt he already holds.
In the aftermath of the defeat, Mr. Folayang said it was tough to talk about the loss but something he eventually learned to accept and is now using as motivation as he tries to get back in the mix of things.
“It was hard to talk about it for a time. Finding the right words to describe what I was feeling was a challenge. I think that is just how it goes for me after a tough loss. Losing is not new to me, but it is also an opportunity for me to take a step back and try to pick up the pieces,” he said.
“I needed the time off to realize where I went wrong — whether that was in my preparation or in the fight itself. I wanted to know where I had miscalculated. I reviewed every angle, and I really took the time to look at my mistakes,” he added.
Mr. Folayang began his journey back last May in Singapore, defeating previously unbeaten Russian stalwart Kharun Atlangeriev by way of unanimous decision.
It was a victory that he hopes to ride on heading into his next fight later this week and moving forward.
“The last time that I was in Manila, I let everyone down with my performance. It has haunted me ever since. Come this fight, I am coming back for redemption. I am going to war and win it,” said 34-year-old Folayang.
“Lightweight is one of the deepest divisions in ONE Championship, and there are so many great guys all wanting to get to the top. I have to keep winning so I can stay in the mix,” he added.
ONE: Reign of Kings is headlined by the clash for the interim world bantamweight title between two-division champion Nguyen and Filipino Kevin “The Silencer” Belingon.
Co-main event is the lightweight battle between Shinya Aoki of Japan and Shannon Wiratchai of Thailand.
Other Filipinos seeing action are strawweights Joshua Pacio and Rene Catalan against separate opponents. — Michael Angelo S. Murillo

Stallion Laguna FC moves closer to top three with win over Kaya

STALLION Laguna FC padded its push to the top three of the ongoing Philippines Football League season with a 2-0 victory over Kaya FC-Iloilo on Saturday at the Biñan Football Stadium.
Goals from Ruben Doctora, Jr. and Carlos Polli did it for the hosts as they won their second consecutive match to improve to nine wins and nine losses for 24 points, just a point behind third-running Davao Aguilas FC (7-4-8).
Mr. Doctora broke through for Stallion in the 27th minute when he was able to slip past and slot the ball past the Kaya defense for an easy finish.
The visitors tried to get back the point lost as the game progressed but only saw themselves buried some more after Mr. Polli double their lead at the 77th minute.
The goal was initially stopped by Kaya keeper Ace Villanueva but the ball fell into the path of the Stallion’s Fitch Arboleda, who calmly cut the ball back for Mr. Polli to slot in.
Kaya could not recover from the hole it was in thereafter and saw Stallion run away with the victory.
Despite the loss, its second in as many games, Kaya (10-3-6) is still in second spot with 33 points.
Defending champion Ceres-Negros FC (16-3-2) continues to lord on the standings with 51 points.
Ceres dominated hapless Global Cebu FC, 7-1, in their game held last Saturday as well. — Michael Angelo S. Murillo

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