Le Tour de Filipinas all set for 10th staging next month

May 28, 2019 | 9:52 pm

LE TOUR DE FILIPINAS rolls off next month, promising yet another exciting cycling action.

Now on its 10^th year of “celebrating cycling,” this year’s edition of the tour happens from June 14 to 18.

An International Cycling Union (UCI)-sanctioned event, the 2019 Le Tour de Filipinas will have five stages, beginning on June 14 in Tagaytay City.

Stage 2 is on June 15 from Pagbilao, Quezon to Daet, Camarines Norte; Stage 3 is on June 16 and will be from Daet to Legazpi City; and Stage 4 on June 17 will cover a ride from Legazpi City via Sorsogon and Gubat and back to the Albay capital.

Stage Five 5 is on June 18 in Legazpi City via Donsol in Sorsogon.

Organizers said a solid mix of riders from local and international teams are set to compete for the right to be hailed as this year’s champion.

“This year’s edition of the tour should be an exciting one. We have been preparing for this to come up with an exciting staging on the 10^th year of celebrating cycling in the Philippines,” said Donna May Lina, Le Tour de Filipinas chairman, at Tuesday’s press conference for the event at the Passion Restaurant in Resorts World Manila.

She went on to say that they have been working hard to ensure a safe and successful holding of the various stages of the tour.

“As of press time, we have double-checked the roads and coordinated with pertinent agencies and officials to ensure a safe and exciting race,” Ms. Lina said. — Michael Angelo S. Murillo

Coca-Cola Charity Golf Classic 2019 raises over P3M for host community CSR projects

May 28, 2019 | 9:51 pm

COCA-COLA Beverages Philippines, Inc. (CCBPI) and the Coca-Cola Foundation Philippines, Inc. recently held the Coca-Cola Charity Golf Classic 2019, which raised approximately P3.4 million in sponsorships and donations from attendees and valuable partners. This shared achievement as one Coca-Cola family signifies new opportunities for beneficiaries all over the country — as it attests to Coca-Cola’s aim to go beyond good in changing people’s lives for the better. Class Champions and Over-all Champion:

• Class C Champion: Total Information Management Corp.: Jose Mari Antuñez, Stephen Jarvis, Bob Pangan, Virgilio Villar, 112 points

• Class B Champion: Rodolfo Abaya (Delmax Corp.), Rudy delos Reyes (Delmax Corp.), Monci Cirujano (BPI), Niko Santiano (BPI), 110 points

• Class A Champion: Frank Garcia, Ace Stehmeier, John Laurel, Yayi Esquadro, 110 points

• Overall Team Champion: Jose Leonardo Tañada, Primo Peñaranda, Wilfredo Villanueva (SGV), Fabian delos Santos (SGV)

New twist

May 28, 2019 | 9:50 pm

Relations within the Philippine Olympic Committee had another twist when top leadership decided to make sweeping changes in the organization early this week.

In a rather surprising move, POC president Ricky Vargas at the group’s general assembly with national sports association members announced that he would make some changes, removing some officials in key positions and replacing them over what he refers to as loss of trust and confidence.

Among those removed were Robert Bachmann (squash) as chairman of the membership committee, Peping Cojuangco (equestrian) as chairman of the constitution and bylaws, Monsour Del Rosario (taekwondo) as chief of mission to the 2019 Southeast Asian Games and Joey Romasanta as chief of mission to the 2020 Olympic Games in Tokyo.

Vargas said the decision was arrived at as he had lost trust and confidence in the aforementioned officials for what he said was their continuous efforts to undermine his leadership and action for reforms as well as his integrity since taking office in February last year.

He replaced Cojuangco who was POC president for 13 years.

Vargas, who has gone public about his concerns over too much politics in the POC, also suggested that elections be held in January to elect “deserving candidates who will fight for reforms and good governance” in the organization.

Understandably, the turn of events did not sit well with those who were removed from their posts, questioning the move’s validity and even called for an election themselves at the soonest possible time to determine if the current leadership has the support of the assembly.

They also asserted that Vargas and his group should address several issues, including the formation of the Philippine Southeast Asia Games Organizing Committee (PHISGOC) and alleged overpricing of supplies for the 2019 SEA Games which is to take place later this year in the country.

While news of power struggle in the POC is no longer new, still one cannot help but lament this latest twist in the organization.

We aspire to raise development and handling of sports in the country yet the people tasked to lead such thrust could not get along among themselves.

Call me naïve but I still believe that all these men and women sports leaders of ours have the welfare of the sporting community in mind.

They just have their own ways of going about it and a truly meeting of the minds has yet to happen among them.

I just hope that this latest episode does not affect our preparations for the SEA Games, which have taken a beating already across various fronts.

For an event with national significance, proponents of it should have, if not a united, at least a “working” front to make things happen and ensure that the SEA Games is staged with little hiccups as possible.

How this latest leadership row in the POC would be resolved is anybody’s guess considering how deep the “animosity” seemingly has reached.

But something has to give, and that officials should recognize, for the good of not only the office they hold but Philippine sports in general.

Michael Angelo S. Murillo has been a columnist since 2003. He is a BusinessWorld senior reporter covering the Sports beat.

msmurillo@bworldonline.com

Refuse to lose

May 28, 2019 | 9:49 pm

Considering the ease with which Serena Williams claimed the second and third sets of her campaign-opening match in the French Open the other day, it’s clear that she still possesses the power, precision, and, perhaps most importantly, passion to stamp her class in the sport’s grandest stages. That she succumbed to unseeded Vitalia Diatchenko in the first set after claiming only two games, however, likewise underscores her increasing vulnerability at this stage in her career. She had been ousted in the first round of a Grand Slam tournament just once in 70 previous appearances, but, for a while there, she looked legitimately out of sorts and in danger of early elimination anew.

To be fair, only a player of Williams’ stature and standing can lay claim to fellow-favorite status at 37, not to mention coming off a complicated pregnancy and life-threatening ailments. Even as the red clay at Roland Garros can stunt the efficacy of her groundstrokes and lengthen rallies to the detriment of competitors in her age bracket, she knows her biggest asset — and that which has separated her from the best of the best — remains her utter refusal to lose. Even in seemingly difficult situations, she is invariably able to find the spirit to summon her best, or close to her best.

The other day, for instance, Williams could have fallen prey to the temptation of folding under duress, especially since she could lean on a variety of excuses, including a recurring injury to her left knee, to justify the development. Parenthetically, she had just 10 matches under her belt for the year, making rust alone an understandable reason. Instead, she saw fit to overcome her self-doubt by internalizing; down 15-30 on serve to start the second set, she let out a primal yell that served to calm her down. She buckled down to work, winning the next three points to claim the first game — and then 11 of the next 12 to move on.

How well Williams will fare from here on is anybody’s guess. She lasted all of three rounds before pulling out due to injury last year, and it’s not a good sign that withdrawals marked the last three events she was slated to enter in. For now, though, she’s around — a critical step en route to her intent to win for the first time since the 2017 Australian Open. And for as long as she’s betting on herself, fans are hard-pressed not to do the same.

Anthony L. Cuaycong has been writing Courtside since BusinessWorld introduced a Sports section in 1994.

Peso declines further vs dollar on ongoing US-China trade war

May 28, 2019 | 9:00 pm

THE PESO weakened against the dollar on Tuesday as market players flocked to the greenback for safety amid persistent uncertainty on the trade negotiations between the United States and China.

The local currency closed at P52.30 on Tuesday, eight centavos weaker than the P52.22-per dollar finish recorded on Monday.

The peso opened flat at P52.22, surging to as high as P52.19 against the greenback intraday. However, it declined to as low as P52.32 versus the US currency.

Dollars traded reached $913.8 million, higher than the $633.31 million that switched hands the previous day.

A foreign exchange trader said peso-dollar trading yesterday was “muted” as financial markets in the US were closed in commemoration of the Memorial Day.

“However, we saw stronger dollar late last night to early morning, given that trade tensions have not been resolved,” the trader said in a phone interview.

In a joint press conference with Japanese Prime Minister Shinzo Abe in Tokyo, President Donald J. Trump said the US is still not ready to make a deal a deal with China.

“They would like to make a deal. We’re not ready to make a deal,” he said, adding that tariffs on Chinese goods could increase “very substantially” and “very easily.”

Trade talks between Beijing and Washington was stalled earlier the month after both countries imposed levies on each other’s imports.

“The biggest tension right now is between the US and China, so maybe the market is focusing on that, so they were buying the dollar which is somehow a safe haven next to the Japanese yen.”

Meanwhile, another trader said the peso weakened due to dollar positioning ahead of likely stronger US consumer confidence data for the month of May.

For today, the first trader expects the peso to move between P52.25 and P52.45, while the other gave a P52.15-P52.45 range.

“The local currency is expected to depreciate further ahead of the lower reserve requirement later this week,” the second trader noted. — Karl Angelo N. Vidal

Stocks rebound as mart positions ahead of MSCI

May 28, 2019 | 9:00 pm

LOCAL STOCKS recovered on Tuesday as investors rebalanced their portfolios in preparation for the MSCI index review.

The 30-member Philippine Stock Exchange index (PSEi) gained 36.28 points or 0.47% to close at 7,761.29. The broader all-shares index was also up by 24.62 points or 0.51% to reach 4,790.05.

“Our index trailed other Asian markets and closed positive today as Trump’s visit to Japan bolsters hopes on better trade deals between the two economies. Volume today is also up as fund managers rebalance their portfolios a week before the effective date of the semi-annual MSCI index review,” Jervin S. de Celis, equity trader at the Timson Securities, Inc., said on Tuesday.

US President Donald J. Trump ended his four-day visit to Tokyo on Tuesday. He said there will be a trade announcement from both sides sometime in August and the trade gap between the two can be resolved rapidly.

Meanwhile, continuing trade tension between the US and China kept investors in most Southeast Asian markets on the sidelines.

“Market players continue to tread water and await further cues on the trade front as President Trump downplays the likelihood of a deal with China anytime soon,” a note from ING said.

Meanwhile, MSCI’s quarterly review of index weights will take effect on June 3.

Papa Securities Corp. Sales Associate Gabriel Jose F. Perez, in an e-mail on Tuesday, shared the same sentiment: “There we have it, MSCI’s rebalancing actually ended up leading the index to close in the green, up 36.28 points to close at 7,761.29. As expected, volume was high at 18.0 billion because of today’s event.”

“What’s striking, however, is the P600 million in net foreign selling, which could be lower than what people expected today’s print would be,” Mr. Perez added.

Some 1.52 billion issues valued at P18.02 billion switched hands on Tuesday, higher than the previous session’s P5.53 billion.

Foreign investors were net sellers for the 17^th consecutive day at P632.59 million, versus Monday’s net sales worth P388.98 million.

Most sector counters finished in the green. Property gained by 63.67 points or 1.52% to close at 4,236.28; industrials went up 25.95 points or 0.23% to 11,140.25; services rose 15.38 points or 0.93% to 1,656.17; and mining and oil gained 9.39 points or 0.13% to close at 7,247.59.

Meanwhile, the holding firms sub-index went down 0.55 point or 0.007% to close at 7,386.99, while financials went down 5.84 points or 0.34% to 1,696.55.

Advancers outnumbered losers, 100 to 80, while 53 issues were unchanged.

“With MSCI out of the way, issue to look now would be how US markets end up faring tonight, especially with how they’re coming back from the Memorial Day holiday. Movement tonight could also influence how the PSEi moves tomorrow,” Mr. Perez said on Tuesday. — Vincent Mariel P. Galang

Cabinet officials’ Japan trip ‘reward’ for poll results

May 28, 2019 | 8:55 pm

By Arjay L. Balinbin, Reporter

PRESIDENT Rodrigo R. Duterte left for Japan on Tuesday afternoon to attend the Nikkei 25^th International Conference on The Future of Asia in Tokyo, Malacañang said.

The President, according to a list released by the Palace on Tuesday morning, would be accompanied by at least 16 Cabinet officials.

In an interview with reporters in Japan, hours before the President’s expected arrival, Philippine Ambassador to Japan Jose C. Laurel said the trip to Tokyo could be Mr. Duterte’s “reward” to his men as he was “elated” by the results of the 2019 midterm elections.

Malacañang emailed to reporters the transcript of the interview on Tuesday afternoon.

“You know, you ask me personally what is [the] purpose? Ito’y pabuya sa nakaraang election (This is a reward for the previous elections). Why do you bring [16] Cabinet members here pati ang [including] local government [officials] or land reform [officials]? Wala naman land reform dito. Tapos na, nandoon sa atin (There is no land reform here. It is over. The land reform is there in our country),” he said.

He added: “But I think the President is so elated with the results-of the midterm elections, that this is an affirmation of his administration in the last three years. Iyan ang katotohanan (that is the truth).”

The ambassador continued, “Parang pabuya na, ‘Salamat ha (It is like a reward to say ‘thank you’), you’ve done your jobs.’”

The Palace said the President would be accompanied by the following officials: Secretaries Teodoro L. Locsin, Jr. of the Department of Foreign Affairs; Carlos G. Dominguez III of the Department of Finance; Emmanuel F. Piñol of the Department of Agriculture; Mark A. Villar of the Department of Public Works and Highways; Karlo Alexei B. Nograles of the Office of the Cabinet Secretary; Ramon M. Lopez of the Department of Trade and Industry; Bernadette Romulo-Puyat of the Department of Tourism; Arthur P. Tugade of the Department of Transportation; Fortunato T. Dela Peña of the Department of Science and Technology; Alfonso G. Cusi of the Department of Energy; Eliseo M. Rio, Jr., of the Department of Information and Communications Technology; Ernesto M. Pernia of the National Economic and Development Authority; Jose Ruperto Martin M. Andanar of the Presidential Communications Operations Office; Hermogenes C. Esperon, Jr., of the National Security Council; Salvador S. Panelo of the Office of the President; and Presidential Adviser on Peace, Reconciliation and Unity Carlito G. Galvez, Jr.

According to Mr. Laurel, a delegation of 200 (“Aba’y ang balita ko’y dalawang daan eh.”) will accompany Mr. Duterte.

The Palace also said Mr. Duterte will speak before the 25^th International Conference on the Future of Asia upon the invitation of Nikkei, Inc.

“The President’s address will highlight Philippine development goals and accomplishments, foreign policy thrusts, and insights on regional and global developments,” the Palace statement said.

“This annual gathering, regarded as one of Asia’s top foreign policy and economic fora, also includes leaders of Malaysia, Cambodia, Laos and Bangladesh in its lineup of speakers.”

In Mr. Duterte’s meeting with Prime Minister Shinzo Abe, the two leaders will “discuss cooperation in infrastructure development, trade and investments, agriculture, labor, defense, maritime security and maritime domain awareness, people-to-people exchanges, and the pursuit of just and lasting peace and progress in Mindanao.”

‘Future-proofing’ businesses tackled in employers’ forum

May 28, 2019 | 8:54 pm

EMPLOYERS emphasized at a forum the necessity of “Future-proofing” businesses through better initiatives of establishments in improving operations and upskilling workers to prepare for technological advancements also developing locally.

This year’s 40^th National Employers Conference discussed how businesses can adapt to various developments prompted by the Fourth Industrial Revolution.

“Future proofing businesses and industry is not a mere slogan. It is an urgent and critical issue that congress, workers, and government must address now for the survival of our businesses,” Employers Confederation of the Philippines (ECoP) chair Edgardo G. Lacson said for his part.

“Labor and capital must recognize the critical need to move forward as a team, lessen ideological differences, and trustingly engage in each other in future-proofing business and industry. Now is the time for us workers, employers, and government alike to come together…to collaborate and cooperate in harnessing the benefits of (the Fourth Industrial Revolution),” Mr. Lacson also said.

ECoP President Sergio R. Ortiz-Luis, in turn, said, “More changes and transformation are expected to take place in much more rapid ways. We see right before our eyes new business models and industries are emerging.”

Vice President Maria Leonor G. Robredo noted that, “In the Philippines, new technologies will affect about 4.5 million jobs, particularly in agriculture and retail and manufacturing. These numbers are threatening and alarming.”

“We need to come together and disrupt systems. We need to adopt fresh, new business models. We must build consensus among organizations and push for a development agenda,” she said, as she cited livelihood opportunities initiated in part by the Office of the Vice-President’s Angat Buhay anti-poverty program.

“Through Angat Buhay, we hope to explore largely untapped wellsprings of Filipino skill and talent by creating jobs and livelihood opportunities, especially for the poor. We hope to increase productivity in the labor sector, and raise the level of technical efficiency through education and innovation. And we are very lucky that the private sector has been very responsive in the work that we do,” Ms. Robredo said. — Gillian M. Cortez

Asia Society, JPMorgan to hold forum on future of work

May 28, 2019 | 8:52 pm

A FORUM on “Rethinking the Future of Work to Promote Inclusive Growth in Asia Pacific” will hold on June 4 at The Peninsula Manila.

Organized by Asia Society and multinational investment bank JPMorgan, the event will form the last leg of the One Step Ahead Series, a collaboration that combines the Asia Society’s mission to educate and JPMorgan’s longstanding commitment to investing in communities. Previous forums were hosted in Hong Kong, Singapore, Mumbai and Beijing.

Panelists for the Manila forum include leaders from the International Labour Organization, and the Organization for Economic Co-operation Development, as well as McKinsey and Company Associate Partner Boris Van, LinkedIn Regional Sales Leader Atul Harkisanka, NCAER Director General Dr Shekhar Shah, Bainian Vocational School Board Member Sabina Brady, and SkillsFuture Singapore Deputy Chief Executive Michael Fung.

They will be joined by local leaders Ayala Corporation Chairman and CEO Jaime Augusto Zobel de Ayala, Department of Information and Communications Technology former Undersecretary Monchito Ibrahim, and TESDA Deputy Director General Rosanna Urdaneta.

Among the key questions to be tackled are: What challenges and opportunities will the Asia Pacific region face in this age of automation and digitization? How can employers, policymakers, and educators confront the new socio-economic realities accompanying Asia Pacific’s vast digital transformation?

For the Manila leg, key panel sessions will be on the following topics: Unleashing the Potential of Inclusive Growth in the Future of Work: Findings from Research and the Field; The Future of Work Ecosystem — Aligning Supply and Demand for an Inclusive Labor Market; and Reskilling and Upskilling — Reinventing Education and Training for the Workforce of the Future.

Doris Ho, Asia Society Philippines Chair, said for her part, “Technology brings rapid changes to all facets of our life, but more so in the area of work. We need to have these discussions on confronting innovations in automation, artificial intelligence, and digitization so we are prepared to adapt.”

“With the high level discussions at One Step Ahead Manila Forum, our aim is to come up with solutions and share best practices on dealing with the challenges of the future of work. Navigating this complexity needs a multi-sectoral, multi-level approach,” she added.

House OKs bill on free dialysis treatment for indigent patients

May 28, 2019 | 8:51 pm

By Vince Angelo C. Ferreras, Reporter

THE House of Representatives approved on final reading a bill which seeks to provide free dialysis treatment for indigent patients.

House Bill 9156 or the “Comprehensive Renal Replacement Therapy Act” received 177 affirmative votes with no negative votes and no abstention.

The bill aims to provide a comprehensive renal replacement therapy (RRT) for patients with end stage renal disease in national, regional and provincial government hospitals.

All national, provincial, and regional government hospitals, including stand-alone dialysis facilities, shall have a dialysis service area compliant with the licensing by the Department of Health and Philippine Health Insurance Corporation (PhilHealth).

The bill states that qualified indigent patients will be covered by a “No Balance Billing Policy.”

Under the measure, PhilHealth shall cover the cost of laboratory work-up for both recipient and donor candidates, hospitalization for the transplant operation, the cost of organ retrieval, as well as medication and post-discharge laboratories up to one month for the recipient and up to one year for the donor.

Further, the bill increases the PhilHealth Z-benefit package rates for peritoneal dialysis and hemodialysis after kidney-transplant procedures.

Meanwhile, the Philippine Charity Sweepstakes Office shall cover the remaining sessions for both peritoneal dialysis and hemodialysis.

Duterte appoints new PSA head

May 28, 2019 | 8:50 pm

By Arjay L. Balinbin, Reporter

PRESIDENT Rodrigo R. Duterte has appointed former dean Claire Dennis S. Mapa of the University of the Philippines (UP) School of Statistics as the new National Statistician and head of the Philippine Statistics Authority (PSA).

Malacañang released to reporters on Tuesday copies of Mr. Mapa’s appointment paper, which Mr. Duterte signed on May 27.

Mr. Mapa, who will serve for a term of five years, replaces former National Statistician Lisa Grace S. Bersales, whose term ended on April 22.

The PSA is an attached agency of the National Economic and Development Authority (NEDA).

In a statement, NEDA said that among other projects, Mr. Mapa “will be taking over and spearheading the implementation and development of the Philippine Identification System (PhilSys) Program, a landmark reform of the Duterte administration.”

“[Mr.] Mapa, who has extensively worked with government on population, economic growth, and poverty statistics research, was nominated by a Special Search Process Committee chaired by the Philippine Statistical Research and Training Institute (PSRTI) Executive Director, and composed of select officials from the NEDA, Bangko Sentral ng Pilipinas, University of the Philippines (UP) Diliman School of Statistics, and the UP Los Baños Institute of Statistics,” NEDA added.

Prior to his appointment, Mr. Mapa, according to NEDA, was “Statistics Professor and Dean at the UP School of Statistics for four years.”

Mr. Mapa also “served as Vice President and Executive Director of the UP Statistical Center Research Foundation, Inc., and is a member of the PSRTI Governing Board.”

NEDA further said the Mr. Mapa was sworn in by Mr. Duterte last Monday, May 27, at Malacañan Palace.

The Palace also released copies of the appointment paper of Ramon T. Tulfo, Jr. on Tuesday, extending his term as Special Envoy for Public Diplomacy of the President to the People’s Republic of China for another “six months.”

An appointment letter signed by the President on May 22 and addressed to the Chair and Commissioners of the Presidential Commission on Good Government was also released. The President’s letter reads: “It is my desire that Mr Rehan Balt Lao be elected President and Member, Board of Directors, UCPB-CIIF Finance and Development Corporation, vice Edgardo C. Amistad.”

Locsin: Canada trash to be shipped back May 30

May 28, 2019 | 8:47 pm

By Charmaine A. Tadalan, Reporter

ALL 69 waste containers from Canada will be shipped back to the North American country on May 30, according to Foreign Affairs Secretary Teodoro L. Locsin, Jr.

The Secretary on Monday evening said the containers, which were fumigated over the weekend, will be sent back to Canada through the joint effort of the Department of Foreign Affairs, Department of Environment and Natural Resources (DENR), and Canadian officials.

“All containers containing garbage cleaned and ready to go. Waiting for a couple of documents and routine permission from China for transshipment to Canada. Departure is May 30,” Secretary Locsin said in a social media post, Tuesday.

“Also thanks ICTSI’s (International Container Terminal Services, Inc.)Ricky Razon for picking up our part of the tab. A cooperative effort of DENR, the Canadian ambassador, the CN Foreign Minister — everyone who had nothing to do with legally letting the garbage in the first place then never lifting a finger to get it out,” he said.

The Office of the President on May 20 directed government officials, including those in government-owned and -controlled corporations and government financial institutions to refrain from going on official trips to Canada.

This came after the Canadian government failed to meet the May 15 deadline given by President Rodrigo R. Duterte to ship out the containers.

The Canadian government on May 22 announced that it would ship back the waste containers and that it has taken measures to prevent a repeat of the trash shipment.

“Canada is pleased to announce that it has awarded a contract to bring the waste back promptly and to ensure its safe and environmentally sound disposal. Canada has amended its regulations to prevent this from happening again and is looking at ways to hold the responsible parties to account,” Catherine McKenna, Minister of Environment and Climate Change, said in a statement, issued in the Government of Canada’s official website, May 22.