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He knows that is against the Constitution: VP Leni Robredo

VICE-President Maria Leonor G. Robredo Ms. Robredo expressed her disappointment over the president’s threat to suspend the writ of habeas corpus and declare a “revolutionary war,” and said she is ready to take his place if need be.

President Rodrigo R. Duterte on Thursday threatened to suspend the writ of habeas corpus after critics cautioned him over his order for a review of all government contracts. The president then followed this up with a warning that he would declare a “revolutionary war” which would last until his term ends in 2022.

Speaking at the the Annual Convention of the Prosecutor’s League of the Philippines on April 4 in Puerto Princesa, Palawan, he said “Pero ’pag ako ang pinaabot niyo ng sagad, I will declare a suspension of writ of habeas corpus and I will arrest all of you. Isama ko kayo sa mga kriminal, rebelde, pati dorogista. (If you push me to my limit, I will declare a suspension of writ of habeas corpus and I will arrest all of you. I will put you together with the criminals, rebels, and drug lords.)

“Pahirapan mo ako, I will declare a revolutionary war until the end of my term. (If you give me a hard time, I will declare a a revolutionary war until the end of my term),” he continued.

Ms. Robredo expressed her disappointment over the president’s remarks during the Ahon Laylayan Koalisyon Launch in Bohol on Friday. She said to reporters, “Iyong pagdeklara ng Pangulo ng revolutionary government, medyo nagulat ako dahil abogado siya, at alam niya na labag ito sa Konstitusyon…. Kaming dalawa, pareho kaming nanumpa na ipagtatanggol namin ang Konstitusyon ng Republika ng Pilipinas (When the President said he would declare a revolutionary government, I was surprised because he is a lawyer and he knows it is a violation of the Constitution. Both of us have sworn to protect the Constitution of the Republic of the Philippines).”

This wasn’t the first time Mr. Duterte said that he would suspend the writ of habeas corpus. The former Davao mayor made similar statements in 2016 saying this is a way to address persistent crime in the country, particularly drug-related crimes.

Habeas corpus is a recourse in law through which a person can report an unlawful detention or imprisonment to a court.

Ms. Robredo stressed that Mr. Duterte’s actions that appeal to public fear is irresponsible on his part.

“Maraming kahirapan, maraming mga frustrations, pero iyong pagsagot sa mga pagsubok at kahirapan, dapat within constitutional means… Hindi puwedeng dahil, parang, nag-alburoto ka, parang tatakutin iyong taumbayan sa isang paraan na hindi constitutional (There are so many difficulties, many frustrations, but you answer the trials and difficulties within constitutional means… you cannot, just because you are outraged, scare the people in a way that is unconstitutional),” she said.

Reacting to Senatorial bet Romulo B. Macalintal, who said that Ms. Robredo would automatically become president if Mr. Duterte pursued setting up a revolutionary government, Ms. Robredo says she is ready to take the role.

“Iyong lahat naman na kumakandidato na pangalawang pangulo, dapat ready na, ready sa ganiyang eventuality, kasi iyon naman iyong mandato ng opisina… mayroong ganiyang dapat na klaseng paghahanda, dahil iyon naman ang mandato ng aming opisina (Everyone who is a candidate for vice-president, they should be ready for that eventuality because that is the mandate of our office… there should be that kind of preparation because that is the mandate of our office),” she stressed. — Gillian M. Cortez

Reserves climb further in March

By Melissa Luz T. Lopez, Senior Reporter

GROSS international reserves (GIR) rose further in March for the fifth straight month, the central bank said on Friday, enjoying a boost from higher dollar deposits and income from offshore investments.

Dollar reserves picked up to $83.199 billion last month, climbing from the downward-revised $82.781 billion in February and the $80.511 billion tallied in March 2018, the Bangko Sentral ng Pilipinas (BSP) said.

This is the highest reserve level since October 2016, when the GIR stood at $85.106 billion.

In a statement, the BSP said the bigger dollar stash came on the back of inflows from the government’s foreign currency deposits. Income from the central bank’s investments abroad and its foreign exchange operations also padded the reserves, despite lower gold valuations and settlements of foreign debt.

Income from the BSP’s offshore investments rose to $71.025 billion in March, rising from $70.37 billion logged the previous month and the $64.931 billion level in March 2018. This accounted for bulk of the reserves.

Meanwhile, the country’s foreign currency stash dipped anew to $2.245 billion, sustaining a monthly drop since September. A stronger peso usually meant losses for the central bank, while a weaker currency pads the GIR.

The central bank uses the reserve money to temper sharp swings in the exchange rate. The peso weakened in March from the previous month, with the average logging at P52.4134 versus the dollar amid uncertainties here and abroad.

The month saw former Budget Secretary Benjamin E. Diokno appointed as new BSP chief, who said that he’s seeing room to ease policy rates and cut required bank reserves. March also saw global markets reel from fears of a recession, as growth in advanced economies soften further and yields on US Treasuries invert.

Some currency traders have said that the BSP likely bought more units in March as they sought to rebuild the reserves, coming from a seven-year low in 2018.

In contrast, the value of the BSP’s gold holdings dropped anew to $8.214 billion from $8.359 billion in February, reflecting lower gold valuations in the international market.

Reserves maintained under the International Monetary Fund (IMF) rose to $524.5 million versus $472.4 million the prior month. Special drawing rights — or the amount which the Philippines can tap under the IMF’s reserve currency basket — steadied at $1.191 billion.

The March GIR settled well above the $77-billion projection of the central bank for the entire year, and is higher than the end-2018 level of $79.193 billion.

The reserves can also cover up to 7.3 months’ worth of import duties. The central bank said this remains an ample liquidity buffer, logging well above the three-month global standard.

March’s GIR level is likewise equivalent to five times the Philippines’ short-term external debt based on original maturity, and 3.4 times when computed in residual terms.

The GIR has consistently been cited as a source of strength for the Philippines, as it serves as a buffer against external shocks.

Gov’t issues rice tariff law IRR

By Denise A. Valdez, Reporter

THE GOVERNMENT has finally issued the implementing rules and regulations (IRR) for the Rice Tariffication Act, which President Rodrigo R. Duterte signed into law in February.

The National Economic and Development Authority (NEDA) distributed a copy of the IRR to reporters on Friday, which adopts the draft that was previously approved by the National Food Authority (NFA) Council. It will take effect 15 days from publication.

In line with the goal of the new policy to liberalize the importation of rice while taking away the role of the NFA in importing, the IRR outlines the process of removal of regulatory powers from the NFA and the transition of its function to maintenance and management of buffer stocks.

The IRR likewise specified the powers of the President in case of a sudden rise or drop in domestic prices of rice.

Under Article VI Sec. 7a, the President is allowed to “increase, reduce, revise or adjust existing rates of import duty up to the bound rate committed by the Philippines under the World Trade Organization Agreement on Agriculture and under the ASEAN Trade in Goods Agreement…provided the power…shall only be exercised when Congress is not in session….”

It also gives the President the power to allow importation at a lower applied tariff rate “in the event of any imminent or forecasted shortage.”

The NEDA said the NFA Council must still commission a study to determine the optimal buffer stock for emergency and relief purposes. Until its scheduled completion, which must be no later than Dec. 31, the buffer stock will remain at the current level ranging from 15 to 30 days based on a 32,593-metric ton national rice consumption in a day.

The IRR also allows for the creation of an Agricultural Competitiveness Enhancement Fund, which are all duties collected from the importation of all non-rice agricultural products; and Rice Competitiveness Enhancement Fund, or Rice Fund, which cover the P10-billion annual rice budget for the next six years.

The Rice Fund, it said, should be allocated to rice farm machineries and equipment (50%); rice seed development, propagation and promotion (30%); expanded rice credit assistance (10%) and rice extension services (10%).

Should there be an excess in the tariff revenues, the IRR states that a portion of it should be issued as financial assistance to rice farmers; budget for tilting of agriculture rice lands awarded to farmer-beneficiaries under the Comprehensive Agrarian Reform Program and similar programs; crop insurance for qualified rice farmer-beneficiaries; and budget for productivity-enhancement programs for rice farmers that wish to diversify their crops.

“We celebrate this milestone for the agriculture sector. All concerned agencies, including NEDA, are duty bound to implement this historic law. In moving forward, we all have the long-term goal of modernizing the rice industry and improving the lives of all Filipinos, especially farmers, in our minds,” Socioeconomic Planning Secretary Ernesto M. Pernia was quoted as saying in the NEDA statement.

The IRR was formed by the NEDA together with the Department of Agriculture and the Department of Budget and Management.

BSP signs currency settlement deals with ASEAN central banks

THE BANGKO SENTRAL ng Pilipinas (BSP) has forged agreements with the central banks of Indonesia, Malaysia and Thailand as they look to set up direct settlement systems across currencies.

In a statement, the BSP said Governor Benjamin E. Diokno signed bilateral letters of intent with his counterparts Governor Perry Warjiyo of Bank Indonesia (BI), Governor Nor Shamsiah Yunus of Bank Negara Malaysia (BNM) and Governor Veerathai Santiprabhob of the Bank of Thailand (BoT) on Friday. These are meant to kick off formal discussions to set up local currency settlement frameworks between their countries, in keeping with regional integration.

The heads of central banks flew to Chiang Rai in Thailand for the ASEAN Central Bank Governors’ Meeting, where they considered the creation of direct currency exchanges. At present, most peso conversions into other currencies still have to pass through the US dollar, which adds to the cost of foreign exchange.

“The greater use of local currencies in settlement of trade and other areas is aimed at reducing the transaction costs and foreign exchange risks particularly amidst the current volatility faced by currencies in advanced economies,” the central banks said in a joint statement.

Currently, only the central banks of Indonesia and Thailand have a local currency settlement framework in place.

Last October, the Bank of China and 13 other lenders operating in the Philippines agreed to set up a peso-renminbi spot trading facility to allow direct conversions between the two currencies. This is expected to improve payment efficiency and lessen costs for importers and exporters, doing away with the use of the dollar in the process.

These new talks also build on the economic integration of member-states of the Association of Southeast Asian Nations (ASEAN), with the central banks also in the middle of negotiations for cross-border banking arrangements.

“The wider use of local currencies in the ASEAN Economic Community enhances economic and financial integration, as well as spurs further development of the foreign exchange and financial markets within the region,” the statement also read.

In 2017, the BSP signed letters of intent with BI and BoT to potentially allow qualified ASEAN banks to operate freely across member-economies in the region, subject to the regulations set by the host economy. So far, the central bank has completed such talks with BNM, with an agreement in place to allow three banks from one country to venture into the other.

The regional banking synergy is expected to unlock more opportunities for cross-border finance and regulatory cooperation, while also stoking increased intra-regional trade. — Melissa Luz T. Lopez

SEC revokes Kapa’s certificate of incorporation

THE Securities and Exchange Commission (SEC) has invalidated the registration papers of religious organization Kapa-Community Ministry International, Inc. (Kapa) for its illegal solicitation of investments from the public.

In a statement issued Friday, the Commission en banc said it has granted the SEC Enforcement and Investor Protection Department’s petition to revoke Kapa’s certificate of incorporation as it continues to offer and sell investments without the necessary license.

The SEC is allowed to revoke a firm’s certificate of incorporation as per the SEC Reorganization Act, should the company be misrepresenting what it can do, thereby causing great prejudice and/ or damage to the general public.

“Kapa in dealing with the public is using its registration with the Commission as a religious corporation as a backdrop to solicit investments from the public knowing that it does not have the requisite registration,” the commission said in its decision.

Kapa has allegedly been recruiting and encouraging members to donate any amount to the organization, in exchange for a 30% monthly return for life-without doing anything other than invest and wait for the payout.

“Kapa misrepresents itself to the public by concealing this investment scheme in the guise of a donation to entice the public to ‘donating’ when in truth and in fact they are investing,” the SEC said.

“It is by these acts that Kapa’s Certificate of Corporate Registration should be revoked so that it can no longer perpetrate its fraudulent and misleading acts through the privilege granted to it by the State.”

The commission also said that Kapa’s activities resembled that of a Ponzi scheme, wherein a group derives its profits from investors instead of selling actual products.

The SEC has initially issued advisories warning the investing public against Kapa, noting that while it is a registered corporation, it has not secured a secondary license that would allow it to offer and sell securities.

The commission last Feb. 14 slapped a cease and desist order against Kapa’s partners, officers, directors, agents, representatives and all other persons acting in its behalf, as well as other groups under its name: KAPA Kabus Padatuon (Enrich the Poor), KAPA/ KAPPA, KAPA-Co Convenience Store and General Merchandise, and KAPA Worldwide Ministry.

The order was made permanent after Kapa failed to file a motion for its lifting.

The religious group was founded by Joel A. Apolinario, who describes himself as a pastor. Mr. Apolinario was previously charged with syndicated estafa due to his involvement in the investment scheme, although his case was dismissed for lack of parties interested in pursuing the complaint. — Arra B. Francia

Senate studies proposed extension of Malampaya gas exploration contract

THE Senate energy panel is studying how the extension of the Malampaya gas exploration contract will affect the projects competing to build the country’s first import terminal for liquefied natural gas (LNG).

Senator Sherwin T. Gatchalian, who chairs the Senate Committee on Energy, told reporters that Shell Philippines Exploration B.V. (SPEx) had briefed his office about its request to extend drilling in Malampaya beyond the 2024 contract term and possibly until 2029 to 2030.

“Ang request lang ng Shell is ma-extend sa kanila. ‘Extend mo ‘yung aming kontrata, explore namin ‘yun, extend namin ‘yung life nu’ng well until 2030.’ That is only a briefing to us by Shell (Shell is requesting that the contract extension is given to it. ‘Extend our contract, we will explore, we will extend the life of the well until 2030.’),” he told reporters on Wednesday after a Senate hearing on a separate energy issue.

SPEx, a unit of Anglo-Dutch company Royal Dutch Shell plc, is the operator of Service Contract 38 off Palawan, along with Chevron Malampaya LLC and the Philippine National Oil Co.-Exploration Corp. as joint venture partners.

The Department of Energy (DoE) previously expressed interest in taking over the operation of the Malampaya gas-to-power project once the consortium’s contract ends in 2024.

“But we also want to understand how will that affect the LNG terminal knowing there is now new prospects. Kasi kung ako ang LNG terminal, bakit naman ako mag-i-import pa kung meron pa pala kayo hanggang 2030. Matutulog lang yung $2 billion ko dito (Because if I were the LNG terminal owner, why would I import gas if there is existing supply until 2030. My $2 billion will just be idle.),” he said, referring to the expected cost of building an import terminal.

Two groups are in different stages of developing separate import terminals and have received a notice to proceed with the construction from the Department of Energy.

Phoenix Petroleum Philippines, Inc. signed a memorandum of understanding with CNOOC Gas and Power Group Co. Ltd. in June last year to study, plan, and develop a liquefied natural gas (LNG) receiving terminal project in the Philippines.

In December last year, First Gen Corp. signed a joint development agreement with Tokyo Gas Co., Ltd. to pursue the joint development of an LNG terminal within the Lopez-led company’s power generation complex in Batangas City

“It was just a briefing. It’s something new. It’s a new information that came from Shell. We have to inquire from DoE kung ano ang magiging strategy with the LNG (what the strategy will be with the LNG project),” Mr. Gatchalian said.

The senator previously questioned the capability of a government entity to take over the project. — Victor V. Saulon

BDO raises P7.3 billion from LTNCDs

BDO UNIBANK, Inc. raised P7.3 billion from its latest issuance of long-term debt papers, with the fresh funding meant to support the lender’s expansion plans and rebalance its borrowing profile.

In a regulatory filing on Friday, the Sy-led lender said their latest offering of long-term negotiable certificates of deposit (LTNCDs) shored up strong demand from investors, which allowed them to bump up the amount from the original P5-billion offer.

The bank also decided to cut the offer period one day early on April 4.

BDO placed 5.5-year notes on the auction block, which came with an interest rate of 5.375% per annum to be paid quarterly. The bonds will be issued by April 12 and will mature by Oct. 12, 2024.

Investors can invest for a minimum of P100,000 with increments of P50,000.

“The LTNCD issuance is part of the bank’s efforts to lengthen the maturity of its funding sources and support business expansion plans,” BDO said in the statement.

LTNCDs offer higher interest rates like time deposits floated by banks. However, they cannot be pre-terminated but may be sold or traded in the secondary market.

These instruments are also exempted from interest income if kept intact for at least five years, and are covered by deposit insurance worth a maximum of P5,000 per depositor.

BDO, the biggest bank in asset terms in the Philippines, booked an all-time high net income of P32.7 billion in 2018.

Prior to this offering, the bank raised P8.2 billion also via LTNCDs in April last year, which came with a 4.375% annual yield.

In a related development, BDO also announced a scheduled downtime during the Holy Week for system upgrades. The bank said its automated teller machines, mobile and online banking services, plus debit and cash card transactions, will be unavailable from 8 p.m. of April 19, Good Friday to 12 noon of Black Saturday.

BDO shares closed at P131.30 each on Friday, up 80 centavos or 0.61%. — Melissa Luz T. Lopez

DBP posts higher income in 2018

STATE-RUN Development Bank of the Philippines (DBP) reported a stronger net income in 2018, boosted by increased lending, particularly for infrastructure projects.

In a statement sent Friday, DBP said it made a P5.72-billion profit last year, up by 4.2% from the P5.49-billion bottom line in 2017.

Newly-appointed DBP President and Chief Executive Officer Emmanuel G. Herbosa said the higher net income came on the back of strong loan growth.

Total loans stood at P328.93 billion, which grew 12% higher than the P293.82 billion outstanding credit lines as of end-2017. A third of these loans were channelled to infrastructure and logistics, totalling P110.52 billion.

DBP is the eighth-biggest bank in the country, which has been assigned as the government’s infrastructure bank by the Duterte administration. It is largely meant to provide credit lines to construction projects, including big-ticket items on the “Build, Build, Build” pipeline.

New loans granted in 2018 reached P122.58 billion, more than double the P59.63-billion target for the year.

The second-biggest state-owned bank is also tasked to extend loans to micro, small and medium enterprises (MSMEs), social services and community development, and the environment.

MSMEs received P21.9 billion in total loans, while P10.34 billion has been channelled to environmental projects.

Meanwhile, bank assets rose by a tenth to reach P669.76 billion, putting DBP on track to hit P1 trillion assets by 2022.

Mr. Herbosa likewise reported a 15% increase in bank deposits to P474.44 billion, supported by higher placements from rural customers. Of the amount, P305.97 billion is held by state agencies and local government units.

The bank also attributed the rise in deposits to a wider branch network. DBP currently runs 137 branches nationwide, 789 automated teller machines, plus nine branch-lite units meant to serve rural communities.

Mr. Herbosa moved to DBP in March after serving as president of the Philippine Export-Import Credit Agency, taking the place of Cecilia C. Borromeo who was appointed to lead the Land Bank of the Philippines. — Melissa Luz T. Lopez

Peso climbs as BSP stays dovish despite easing inflation

THE PESO strengthened versus the dollar on Friday, bolstered by dovish cues from the Bangko Sentral ng Pilipinas (BSP) despite a slower-than-expected March inflation print.

The local unit ended the week at P52.10 against the greenback, eight centavos stronger than Thursday’s P52.18 finish.

The peso initially traded weaker as it opened at P52.28, and even posted an intraday low of P52.33-per-dollar. However, the currency appreciated later in the session to touch P52.09 as its best showing before settling at the closing rate.

Two traders interviewed by phone attributed the peso’s rebound to comments made by central bank officials in response to latest inflation data.

March inflation clocked in at 3.3%, the slowest since January 2018 to mark the fifth straight month of a decline.

“The peso initially weakened because the CPI (consumer price index) was lower than expected. Initially, the thought is there will be a rhetoric about rate cuts but so far, there’s none. There are comments about being careful,” one trader said.

Following the release of latest inflation figures, BSP Governor Benjamin E. Diokno said the central bank needs to “continue to keep a close watch” on price developments given concerns draw from a more severe El Niño and possible rise in world crude prices.

BSP Deputy Governor Diwa C. Guinigundo added that the BSP “needs to be very careful” about setting policy rates, noting that they need to see a clear downtrend before any adjustments are made. In a Bloomberg report, Mr. Guinigundo said they will only consider cutting rates once inflation hovers around three percent, or the midpoint of the 2-4% target band.

A second trader noted that market players likely took the initially weaker peso as an “opportunity to sell” their currency holdings.

“Inflation was lower but still within target,” she added.

Dollars traded on Friday totalled $964.52 million, lower than the $1.175 billion which exchanged hands the previous day. — Melissa Luz T. Lopez

PSEi rises on slower-than-expected inflation

By Arra B. Francia, Reporter

LOCAL equities climbed on Friday amid slower-than-expected inflation results for the month of March.

The benchmark Philippine Stock Exchange index (PSEi) rose 0.24% or 19.05 points to close at 7,873.18 yesterday, while the broader all-shares index rallied 0.3% or 14.37 points to 4,846.99.

“The optimism due to the lower than expected March 2019 inflation rate of 3.3% and developments on the US-China talks lifted the local market in today’s session,” Philstocks Financial, Inc. said in a market note.

The Philippine Statistics Authority reported on Friday that inflation slowed down to 3.3% in March, compared to February’s 3.8% and the 4.3% booked in the same period a year ago. This marks the lowest inflation rate since January 2018, and is the fifth straight month of deceleration from the high of 6.7% seen last September and October 2018.

The figure was also lower than the 3.5% median result from a BusinessWorld poll of 13 economists taken last week.

Papa Securities Corp. Sales Associate Gabriel Jose F. Perez however noted that the index remained flat despite better inflation results.

“The index ended in the green, but still flattish…Note that value turnover still remained weak at only P4.4B (ex-blocks) and how the index still failed to break out from the 7,900 level despite the better-than-expected inflation print of 3.3% for March,” Mr. Perez said in an email.

Markets overseas mostly got a boost from positive developments on the US-China trade war, which is reportedly in the final stages. The Dow Jones Industrial Average jumped 0.64% or 166.50 points to 26,384.63, while the S&P 500 index added 0.21% or 5.99 points to 2,879.39. In contrast, the Nasdaq Composite index slipped 0.05% or 3.77 points to close at 7,891.79.

Asian indices also ended mixed, with Japan’s Nikkei 225 firming up 0.38% or 82.55 points to 21,807.50. The Hang Seng index dropped 0.17% or 50.07 points to 29,936.32, while the Shanghai Composite advanced 0.94% or 30.28 points to 3,246.57.

Property was the lone counter that declined, slumping 0.15% or 6.20 points to 4,075.07. The rest went up, led by financials which advanced 0.57% or 9.82 points to 1,742.17.

Holding firms gained 0.45% or 34.50 points to 7,732.86; services inched up 0.32% or 5 points to 1,591.47; mining and oil was up 0.12% or 9.11 points to 7,734.29, while industrial added 0.05% or 6.20 points to 11,740.98.

Foreign investors turned net buyers once again, recording net purchases of P455.77 million, against Thursday’s net outflows of P243.86 million.

Turnover remained thin at P5.04 billion after some 2.02 billion issues switched hands, lower than the previous session’s P5.91 billion.

Advancers outpaced decliners, 117 to 81, while 49 names were unchanged.

FIBA-endorsed 3×3 tourney at SM Megamall

THE stage is set for the world’s first-ever Super Quest, the Chooks-to-Go 3×3 Asia Pacific Super Quest.

At stake in this FIBA 3×3-endorsed regional meet are two tickets for the 2019 FIBA World Tour Masters Doha, a ticket to the FIBA 3×3 Challengers Penang, two tickets to the FIBA 3X3 Challengers Kunshan, and a total of USD 50,000.

Two Philippine clubs are set to take part in this level eight-tourney that will take place at the SM Megamall Fashion Hall from April 6 to 7.

Champions of the Chooks-to-Go Pilipinas 3×3 President’s Cup Pasig Grindhouse Kings headline Pool C, with the quartet of Joshua Munzon, Taylor Statham, Troy Rike, and Serbian import Nikola Pavlovic facing Indonesia’s Jakarta West Bandits at 11:40 a.m. and Taipei’s Absolute 3×3 Basketball at 3:00 p.m. on Saturday.

“I think we are as ready as we can be. We have been preparing for the last three months for this,” said Statham. “Me, Troy, and Josh have played together and we have some great players who have been helping us out. We know that we can compete with the world’s best.”

President’s Cup runners-up 1Bataan Risers, fielding mainstays Alvin Pasaol and Santi Santillan, together with guest player Karl Dehesa and American import Travis Franklin, will take on the American-laden Anytours M1 of Hong Kong at 12:40pm and 19th-ranked squad in the world Tokyo Dime of Japan in Pool B.

“Ito na yung bunga ng pinaghirapan namin kaya expect niyo na lalaban kami,” declared Pasaol. “Hindi lang ang sarili namin ang nire-represent namin dito kung hindi ang buong Pilipinas.”

Composing Pool A are Mongolia’s Ulaanbataar, Australia’s TSV Reading Cinemas, and Korea’s Enerskin.

On the other hand, New Zealand’s Aotearoa, Vietnam’s Saigon Aces, and China’s SSLC complete Pool D.

The top two teams in each pool will advance to the knockout playoffs on Sunday.

For league commissioner Eric Altamirano, who has handled a lot of national 3×3 teams, the two Philippine squads are more than ready to compete against the region’s best and finest.

“I’ve never been in a 3×3 tournament na we have sent teams that are more prepared than these two. Before, last minute lang yung teams na pinapadala,” admitted Altamirano.

“We’ve given them enough time to be ready since they are playing in a real 3×3 league. I’m confident that they can compete with the international teams.”

NBL women’s league fires off this weekend

By Michael Angelo S. Murillo, Senior Reporter

FILIPINO women ballers get to showcase what they can do as the National Basketball League (NBL) launches its women’s league this weekend.

To fire off on Sunday at the Hagonoy Sports Complex in Taguig City, the WNBL builds on its thrust of giving opportunities to homegrown talents from various parts of the country following the launch of the men’s league prior.

For the inaugural season of the WNBL, seven teams will be competing, namely the Parañaque Lady Aces, Laguna Lady Pistons, Philippine Navy, Philippine Air Force, Taguig Lady Generals, Pampanga Delta Amazons, and the Cleon and Clyde Lady Snipers.

The teams are boosted by former and current national team players as well as ex-collegiate stars from various women’s leagues including the University Athletic Association of the Philippines, Women’s National Collegiate Athletic Association, and the NCAA South.

Organizers of the league said the WNBL is also geared towards aiding the Samahang Basketbol ng Pilipinas (SBP) in identifying talents as well as honing them to shore up women’s basketball in the country.

“We promised that in the NBL our approach is holistic, meaning we would not only cater to men. Through it we hope to support the programs of the federation (SBP) in discovering talents in women’s basketball as well. We will make sure that the WNBL will be different and something that Filipino basketball fans across the country will like,” said NBL chairman and president Celso Mercado at league’s formal launch on Thursday.

WNBL games will be shown live on Solar Sports, NBL Philippines Facebook page, and Net 25 Facebook page, and on a delayed basis on GMA News TV International, ensuring steady exposure for the league and the players not only in the country but also abroad.

Playing in the opener on Sunday at 1 p.m. are the Parañaque Lady Aces and Laguna Lady Pistons.

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