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Battle of leagueleaders as Pirates, Lions collide

IT will be a battle of leagueleaders and undefeated teams today at the National Collegiate Athletic Association as the Lyceum Pirates and defending champions San Beda Red Lions take on one another in a marquee matchup set for 4 p.m. at the FilOil Flying V Centre in San Juan City.
Currently occupying the one and two spots, respectively, Lyceum (8-0) and San Beda (6-0) seek to extend their strong run in the opening round of Season 94 and fortify their top-perch team status in the ongoing tournament.
The Pirates for the second straight season are off to an impressive start, unblemished heading into their last game of the first round.
Last year, Lyceum went undefeated in the two-round classification play before being swept by San Beda in their best-of-three finals series.
It comes into the game off a gutsy victory over the Letran Knights, 87-82, on Aug. 17.
The Pirates used a 17-4 run in the final five minutes to overhaul an eight-point deficit, 78-70, en route to preserving their undefeated record.
Jasper Ayaay led Lyceum with 20 points with Mike Nzeusseu and CJ Perez adding 16 points apiece.
Jaycee Marcelino was the other Pirate in double digits with 10 points.
For his splendid play in said game, Ayaay was adjudged player of the week given by the NCAA press corps.
On the verge of another sweep of the first round, Lyceum coach Topex Robinson underscored the need for them to stay on top of their game lest they find themselves losing their edge.
“It’s nice to win but we have to continue learning and be the best versions of ourselves. We have to continue moving forward and continue to grow. We have to keep our focus and respecting the game by giving our best each time,” Mr. Robinson said.
Meanwhile, San Beda eyes to keep in step with Lyceum or even get the better of the latter in the first round with a win.
The Lions defeated rival San Sebastian Stags, 65-54, on Aug. 16 where they used a strong finishing kick to book their sixth win in as many games.
Javee Mocon paced San Beda in the win with 16 markers followed by Donald Tankoua and James Canlas with 12 points apiece.
Preceding the Lyceum-San Beda match, meanwhile, is Letran (4-3) versus Mapua Cardinals (2-6) at 2 p.m. — Michael Angelo S. Murillo

European campaign

22nd Hogeschool Zeeland Tournament
Vlissingen, the Netherlands
August 4-11, 2018

Final Top Standings
1-3. GM Sandro Mareco ARG 2643, GM Eduard Iturrizaga Bonelli VEN 2640, GM Roeland Pruijssers NED 2606, 7.5/9
4-10. GM Wan Yunguo CHN 2500, GM Vyacheslav Ikonnikov RUS 2546, GM Zeng Chongsheng CHN 2539, IM T homas Beerdsen NED 2469, GM Daniel Hausrath GER 2502, GM Sandipan Chanda IND 2553, IM Liam Vrolijk NED 2430, 7.0/9
11-20. IM Antonio Dcunha Viani IND 2414, IM John Marvin Miciano PHI 2381, GM Jorden Van Foreest NED 2636, GM Jayson Gonzales PHI 2383, IM Max Warmerdam NED 2421, IM Casper Schoppen NED 2394, IM Migchiel De Jong NED 2339, GM Oleg Romanishin UKR 2441, FM Sief Rijnaarts NED 2339, IM Mark Timmermans NED 2383, 6.5/9
Total Participants: 242
Time Control: 90 minutes for 40 moves followed by 30 minutes to the end of the game with 30 seconds added to your time after every move starting move 1.
Our European campaigners took part in the 22nd Hogeschool Zeeland Tournament in Holland and both IM John Marvin Miciano and GM Jayson Gonzales finished with 6.5/9, tied for 11th to 20th places. IM John Marvin Miciano was the revelation of the tournament as he held the solo lead at the halfway point of the tournament with five wins out of five games. Unfortunately, his strength gave out and he lost in the next two rounds. He recovered with a win and a draw to finish the tournament with 6.5/9.
His victims during the 5-game win streak included two of the top seeds,
GM Zeng Chongsheng from Guangdong (Canton), China (he has a connection with the Philippines, having gained his first GM norm at the 9th Asian Continental Men’s Chess Championship held at the Subic Bay Exhibition and Convention Center in Zambales), and GM Viacheslav Ikonnikov (born March 15, 1966), a well-known player and author who is a regular contributor to the New in Chess Yearbook — a quarterly publication (yes, I know — why does a Yearbook come out quarterly? Go figure) on the latest opening trends.
GM Ikonnikov has written extensively on the King’s Indian Defence which is exactly what Miciano uses against him.

Ikonnikov, Vyacheslav (2546) — Miciano, John Marvin (2381) [E92]
22nd Hogeschool Zeeland 2018 Vlissingen (5), 07.08.2018

1.d4 g6 2.c4 Bg7 3.e4 d6 4.Nf3 Nf6 5.Nc3 0 — 0 6.Be2 e5 7.d5 a5 8.h3 Na6 9.Bg5 h6 10.Be3 Nh5 11.Nd2 Nf4 12.Bf1
[12.Bxf4 exf4 surrenders the c5, d4 and e5 squares to Black.]
12…Nc5 13.Nb3 Nxb3
This followed by …c7 — c5 is Miciano’s new idea. Previously Black has been content with his knight’s outpost on c5 and sought to maintain it with 13…b6. Maybe Ikonnikov will write about it in his next Yearbook Survey on the King’s Indian?
14.axb3 c5
The queenside has been locked up and action shifts to the kingside.
15.g3 Nh5 16.h4
Have you ever seen Tigran V. Petrosian’s game vs the German Wolfgang Unzicker from Hamburg 1960? Before starting an attack on his opponent’s kingside the 9th world champion tucked his king away in his queenside first (game given below). I think that is what Ikonnikov should ahve done here, starting with 16.Kd2!
16…Nf6 17.Bh3 Bxh3 18.Rxh3 Qd7 19.Rh1 Ng4! 20.Na4 Ra6
The Filipino ace from FEU has won the opening battle. White has not been able to accomplish anything on the kingside and Black now starts on his own attack in the kingside.
21.h5 f5! 22.hxg6 f4
Another way is 22…fxe4 23.Nc3 it looks like Black will be hard-pressed to hold the e4 — pawn, but … 23…Rf3! and now 24.Nxe4? is bad because of 24…Qf5 25.Qd3 (25.Nc3? Rxe3+ with a mate threat on f2) 25…Nxf2! 26.Nxf2 Qxd3 27.Nxd3 Rxe3+ 28.Kd2 Rxg3 Black is clearly better.
23.Rh4
Ikonnikov avoided 23.gxf4 because of 23…exf4 24.Bd2 (24.Bxc5 does not seem to work because of 24…dxc5 25.Nxc5 Qe7! Black is winning 26.Qxg4 (26.Nxa6? Qxe4+ 27.Kd2 (27.Qe2 Qxh1+) 27…Qd4+ 28.Ke2 f3+ 29.Kf1 Qxf2#) 26…Qxc5 27.Kf1 Qd4 Black will start winning back his pawns and in the meantime he is still a piece up) 24…Bd4 25.Rf1 f3 26.Bc3 Qe7! and I am not sure if White can hold this.
23…fxe3 24.Qxg4 Qxg4 25.Rxg4 Rxf2
Black has a big advantage which he can convert to a win if he plays well. This is where the men are separated from the boys. John Marvin thought for a bit here and decides to bring his bishop to g5 both to support his far advanced e-pawn but also to seal-off the kingside and isolated white’s g6 — pawn
26.Rh4 Ra8 27.0 — 0 — 0 Bf6 28.Rhh1 Bg5
Next step, double rooks on the 2nd rank.
29.Rde1 Raf8 30.Nc3 Rg2 31.Ne2 Rff2 32.Kd1
White’s pieces are all tied up and Black’s king casually goes up to gobble the g6 — pawn.
32…Kg7 33.Rhf1 Kxg6 34.Rxf2 exf2 35.Rf1 h5
This move does not give anything away, but it makes the win harder. A simpler way can be had by bringing his king to f3, for example: 35…Kh5! 36.Nc3 Kg4 37.Ne2 (what else? if 37.Ke2 then 37…Kxg3) 37…Kf3 38.Rh1 Rh2! 39.Rf1 Kg2 beautiful win isn’t it?
36.Nc3 Rxg3?
Needlessly giving away his powerful f2 — pawn. Correct is 36…Be3 37.Ke2 Rxg3 followed by …Rg1.
37.Rxf2 h4 38.Ke2 h3 39.Rh2 Bf4 40.Rh1 Kg5 41.Nb5 Kg4 42.Nxd6 Rg2+ 43.Kd3 h2 44.Nxb7 Rxb2?
[44…Rg1 wins with no problems. Miciano probably thought that by bringing his king to g2 he would win just as easily, but that is not so.]
45.Nxc5 Kf3 46.Kc3?
Believe it or not White has a problem-like draw with 46.Ne6! Rxb3+ 47.Kc2 Rb4 48.Nxf4 Rxc4+ (48…exf4 49.Rxh2=) 49.Kb3 Rxe4 50.Nd3 Kg2 51.Ra1! Rd4 (51…h1Q? 52.Rxh1 Kxh1 53.Nf2+ it is White who is winning) 52.Nxe5 h1Q (52…Rxd5? 53.Ng4 h1Q 54.Ne3+ Kf2 55.Rxh1 Kxe3 56.Ka4 this is a book draw) 53.Rxh1 Kxh1 54.Nc4 draw.
46…Rg2
Intending …Bf4 — d2+ — b4 holding back the white pawns.
47.Ne6 Bd2+?
Once again Miciano misses 47…Rg1.
48.Kd3 Bb4 49.c5! Rd2+ 50.Kc4 Kg2 51.Rxh2+
[51.Rc1 is a tougher defense as it forces the Black king further from the center, but Black seems to win as well: 51…h1Q 52.Rxh1 Kxh1 53.c6 Kg2 54.Kb5 Rc2 55.Kb6 Kf3 the Black king gets back just in time]
51…Kxh2 52.d6 Kg3 53.Kb5 Kf3 54.Kc6 Kxe4 55.d7 <D>
POSITION AFTER 55.D7
It looks like Ikonnikov will now force Miciano to give up his rook for the pawn, right? ]
55…a4!
No! This time Miciano does not miss the win. In fact, he had to see this several moves back.
56.bxa4 Ba5 57.Ng5+ Kf5 58.Nf7 Ke6 59.Nd6 Rxd6+ 60.cxd6 e4 61.Kb5 e3 62.Kxa5 Kxd7 0 — 1
A terrific battle. After this win Miciano is leading the field with a score of 5 out of 5. Pity this game wore him out and he lost the next 2 games.
Here is the Petrosian game I mentioned earlier.

Petrosian, Tigran V — Unzicker, Wolfgang [D61]
Match/Nation GER-URS 13 — 51 Hamburg (7), 04.08.1960

1.d4 Nf6 2.Nf3 e6 3.Bg5 d5 4.c4 c6 5.Qc2 Be7 6.e3 0 — 0 7.Nc3 h6 8.Bf4 Nbd7 9.cxd5 cxd5 10.Bd3 a6 11.0 — 0 b5 12.a4! b4 13.Na2 Ne8 14.Nc1 a5 15.Nb3 Ba6 16.Bxa6 Rxa6 17.Qd3 Ra7 18.Rfc1 Nd6 19.Bxd6! Bxd6 20.Rc6 Nb8 21.Rc2 Nd7 22.Rac1 Nb6 23.Qb5 Nc4 24.Nfd2 Nxd2 25.Rxd2 Qa8 26.Rdc2 Rd8 27.Rc6 g6 28.g3 Kg7
Let’s evaluate the position here. White dominates the c-file but Black keeps an eye on the entry points c7 and c8 but if you look further you will notice that all of Black’s pieces are tired up in the queenside. Petrosian decides to open up the kingside but that would mean exposing his King, so he brings it over to a2/b1 where it is well-defended. ]
29.Kf1! Kg8
[29…Rb8 30.Rb6 Rd8 31.Rcc6]
30.h4 h5 31.R1c2 Kh7 32.Ke1 Kg8 33.Kd1 Kh7 34.Kc1 Kg8 35.Kb1 Kh7 36.Qe2 Qb7 37.Rc1 Kg7 38.Qb5! Qa8
Exchanging queens leads to a forced loss: 38…Qxb5 39.axb5 a4 (39…Rb7?? 40.b6 followed by Nxa5) 40.b6 Rad7 (40…Raa8 41.b7 Rab8 42.Na5) 41.Na5 Ra8 42.Rxd6! Rxd6 43.b7 Rb8 44.Rc8 Rd8 45.Rxd8 Rxd8 46.Nc6.
39.f4 Kh7 40.Qe2 Qb7 41.g4! hxg4 42.Qxg4 Qe7 43.h5 Qf6 44.Ka2 Kg7 45.hxg6 Qxg6 46.Qh4 Be7 47.Qf2 Kf8 48.Nd2 Rb7 49.Nb3 Ra7 50.Qh2! Bf6
In Petrosian’s games the tactics usually lie in the variations. For example 50…Bd6 51.Rxd6! Rxd6 52.f5 exf5 53.Rc8+ Ke7 54.Qh8 with a winning attack
51.Rc8! Rad7
[51…Rxc8 52.Rxc8+ Ke7 53.f5 Qxf5 54.Qb8 where will the rook on a7 go? 54…Rd7 55.Re8#]
52.Nc5! b3+
[52…Rxc8 53.Nxd7+ Ke7 54.Rxc8; 52…Rd6 53.f5 Qxf5 54.Qxd6+]
53.Kxb3 Rd6 54.f5! Rb6+ 55.Ka2 1 — 0
 
Bobby Ang is a founding member of the National Chess Federation of the Philippines (NCFP) and its first Executive Director. A Certified Public Accountant (CPA), he taught accounting in the University of Santo Tomas for 25 years and is currently Chief Audit Executive of the Equicom Group of Companies.
bobby@cpamd.net

Sub-60 round

When Brandt Snedeker shot an astounding 59 in the first round of the Wyndham Championship, he knew he still had his work cut out for him. Just the 10th sub-60 round on the United States Professional Golfers Association Tour, it was an extremely rare feat made all the more impressive by his poor start; he carded a bogey on his first hole and pats on his second and third at the Sedgefield Country Club in Greensboro, North Carolina last Thursday. He rebounded, though, and put up a 32 going in (on the strength of long birdie putts that included two 26 footers) and a whopping eight-under score coming out for the watershed tally.
To be sure, Snedeker knew that he still had his work cut out for him. Even as he then stood at least four strokes clear of the rest of the 156-strong field, he figured he was in for a letdown common to those who hit milestones; after all, every day can’t be Christmas Day. It’s why only five of the previous nine instances in which a 59 was posted ultimately led to victory. And he was right; the leaderboard stayed bunched up after the cut mark, compelling him to stay focused on the task at hand. He became part of golf history, but he had to make it count in order for it to be truly meaningful.
Creditably, Snedeker delivered, his final-round 65 enough to put him two strokes clear of runners-up Webb Simpson (who shot a career-best 62) and C.T. Pan (who put up a 66). The latter, in particular, made him sweat, but he settled things on the 72nd hole with a birdie against his pursuer’s double bogey. In prevailing for the first time in two years, he said he went through “the most stressful time I’ve ever had in professional golf.” No doubt, part of his anxiety stemmed from the rib injury he suffered last year, one that made his sternum unstable and forced him to prematurely end his season.
Moving forward, Snedeker can use his triumph to steady the ship; he has had an up-and-down campaign so far, missing the weekend eight times in 23 events and finishing in the Top 10 just thrice prior to the Wyndham Championship. Up next, the FedEx Cup Playoffs, where he has jumped a whopping 50 spots to 30th in the standings. “I feel like I [now] have a chance” to win, he noted. Indeed.
 
Anthony L. Cuaycong has been writing Courtside since BusinessWorld introduced a Sports section in 1994.

Robredo condemns arrest of lawyers in Makati bar raid

By Charmaine A. Tadalan
Vice President Maria Leonor G. Robredo flagged the detention of three lawyers for monitoring police in a Makati bar drug raid as an “alarming erosion of Constitutional protections and the rule of law.”
“If even lawyers, fully educated on their Constitutional rights and trained to assert them, can be treated with such official disdain, then we can only imagine how much worse less informed, less empowered Filipinos will fare when subjected to abusive behavior by agents of government,” Ms. Robredo said in a statement, Monday.
Lawyers Lenie Rocel E. Rocha, Jan Vincent S. Soliven and Romulo Bernard B. Alarcon were arrested on Thursday for “obstruction of justice” for monitoring the police while searching the Time Bar for illegal drugs.
The Vice President also reminded the public of they can invoke their legal and Constitutional rights under any circumstances, contrary to the actions of the Philippine National Police.
Further, Ms. Robredo called on the Filipino lawyers to condemn the arrest of Ms. Rocha, Mr. Soliven and and Mr. Alarcon as well as the citizens to contribute in upholding the Bill of Rights and the Rule of Law against the threat of tyranny.
“During one dark period of our history, the rule of law was set aside for the rule of the gun, and citizen’s rights were forced to give way to the unscrupulous use of power That period was the Martial Law regime, and we must never again allow its like to arise,” Ms. Robredo said.
“The line must be drawn here. As free Filipinos, we cannot allow this challenge to our hard-won Constitutional rights to pass,” she added.
The Commission on Human Rights (CHR) on Saturday, likewise, raised alarm on the detention of the three lawyers.
“It shows an utter disrespect not only of the law profession but also of constitutionally enshrined rights. It emboldens other law enforcement agencies and puts at risk ordinary Filipino citizens,” the CHR said in a statement.
The CHR also noted they will pursue investigation of the incident.

Filipina who fled from PHL for theft charges nabbed in UAE

By Gillian M. Cortez
The National Bureau of Investigation (NBI) reported on Monday, Aug. 20, the arrest of a woman who fled to the Middle East in order to escape theft charges.
“The law caught up with our subject, Regina Boneza Senson. Regina Boneza Senson was charged for Qualified Theft (and) for falsification of public documents. Before the court issued a warrant, she escaped to Middle East, specifically the United Arab Emirates,” said NBI Deputy Director Ferdinand M. Lavin in a press conference on Monday.
“She committed these crimes between 2014 and 2015. The warrant was issued in 2015,” Mr. Lavin added.
NBI’s International Operations Division(IOD) asked the Philippine Center on Transnational Crime (PCTC) to issue a Red Notice to Ms. Senson. NBI-IOD contacted authorities from the Middle East to request for assistance for Ms. Senson’s deportation after the NBI-IOD obtained a Red Notice.
“Surprisingly, NBI-IOD received a message from Interpol Abu Dhabi – UAE thru [sic] the PCTC concerning the deportation and turning over of custody of Subject Senson that led to the arrest of the Subject on August 18, 2018,” NBI said in a statement on Monday.
Qualified theft is considered a non-bailable crime in which the penalty slapped to those those found guilty is reclusion perpetua or life imprisonment.

Voting for SC chief justice shortlist moved to Aug. 24 — Guevarra

By Vann Marlo M. Villegas
Justice Secretary Menardo I. Guevarra said the voting for the shortlist of candidates for chief justice (CJ) has been moved to Aug. 24.
“Voting on CJ shortlist reset to Aug. 24 to have more time to review all the documents submitted, particularly the SALNs (statement of assets, liabilities and net),” Guevarra told reporters in a mobile message.
The Judicial and Bar Council held the public interview for the aspirants last Aug. 16. The five nominees are Supreme Court (SC) Associate Justices Lucas P. Bersamin, Teresita L. De Castro, Diosdado M. Peralta and Andres B. Reyes Jr., and Davao Regional Trial Court Judge Virginia Tehano-Ang.
The JBC is mandated to recommend appointees to the Judiciary and President Rodrigo R. Duterte shall appoint the new chief justice from the shortlist submitted by the Council.
The highest magistrate position was declared vacant after former Chief Justice Maria Lourdes P.A. Sereno was ousted through quo warranto on May 11 and was affirmed on June 19 after the SC denied her motion for reconsideration.
The four associate justices nominated were among those who voted to oust Ms. Sereno and rejected her plea.

PepsiCo to buy SodaStream for $3.2 billion

New York — PepsiCo said Monday it plans to buy SodaStream, an Israeli maker of carbonation products, for $3.2 billion as the beverage and snacks giant makes further inroads with in-home goods.
The cash deal will see PepsiCo pay $144 per share for SodaStream’s outstanding stock, a 32 percent premium over its average price of the past 30 days.
SodaStream offers consumers “the ability to make great-tasting beverages while reducing the amount of waste generated,” PepsiCo chair and CEO Indra Nooyi said in a statement.
“That focus is well-aligned with Performance with Purpose, our philosophy of making more nutritious products while limiting our environmental footprint. Together, we can advance our shared vision of a healthier, more-sustainable planet.”
PepsiCo says it aims to provide environmentally friendly and cost-effective products that promote health and wellness.
“From breakthrough innovations like Drinkfinity to beverage dispensing technologies like Spire for food service and Aquafina water stations for workplaces and colleges, PepsiCo is finding new ways to reach consumers beyond the bottle,” said Ramon Laguarta, PepsiCo CEO-elect and president.
While the boards of directors of both companies have approved the deal, it is still subject to a SodaStream shareholder vote, regulatory approvals and other conditions, PepsiCo said, adding that closing was expected by January 2019.
PepsiCo had $63 billion in revenue last year.

Stock markets rise on hopes for easing of US-China trade dispute

London, United Kingdom — European and Asian stock markets mostly rose on Monday and the dollar firmed, with investors hoping that China and the United States will resolve their trade dispute.
Wall Street ended last week with gains following a report that top officials from the world’s two biggest economies would hold talks to resolve a crisis that has seen them hit each other with tariffs on billions of dollars worth of goods, and with more in the pipeline.
The report in the Wall Street Journal said the talks were aimed at easing the trade dispute before US President Donald Trump and Chinese President Xi Jinping hold a summit in November.
“Investors will be hoping that negotiations between China and the US can start to break the trade tariff deadlock or at the very least open the door to a summit between President Trump and President Xi, which might begin to ease the pressure,” noted Rebecca O’Keeffe, head of investment at Interactive Investor.
A possibility that the months-long row which has battered world markets could be brought to an end was enough to spur optimism on trading floors.
Greg McKenna, chief market strategist at AxiTrader, pointed out that Beijing, which is struggling to support the economy while also addressing a debt mountain, may have had a “lightbulb moment” last week with the release of more weak data and a sharp drop in the troubled yuan.
Authorities in China appeared to be moving to support the yuan last week as it headed towards seven to the dollar, its weakest level since January 2017.
Some observers have suggested the central bank has been letting the yuan soften in recent weeks to offset the effects of any US tariffs, a claim China has denied.
Elsewhere Monday, the Turkish lira was hovering above six to the dollar, well off the record levels around seven seen last week but still facing pressure after Ankara and Washington traded fresh sanctions threats as the row over a detained American pastor drags on.
Ratings agency Standard & Poor’s on Friday downgraded Turkey’s sovereign debt for the second time in four months and warned of a recession in 2019.
“The worry over Turkey’s currency crisis eased slightly last week as the lira rebounded against the US dollar. But this isn’t the end of the problem,” said Masayuki Kubota, chief strategist at Rakuten Securities.
Attention this week turns also to the annual central bankers’ symposium at Jackson Hole in Wyoming, which will be followed for clues on US interest rate plans among other issues. — AFP

Malaysia PM calls for China’s help with fiscal problems

Beijing — Malaysian Prime Minister Mahathir Mohamad called on China’s top leadership to help with his country’s fiscal problems Monday, as he seeks to revise major Beijing-backed projects signed under his country’s scandal-plagued former regime.
The 93-year-old leader, who returned for a second stint as premier following a shock election win in May, has railed against a series of deals struck with Chinese state-owned companies by the administration of toppled leader Najib Razak.
His government has suspended China-backed projects worth more than $22 billion, including a major rail link, and Mahathir had pledged to raise the issue of what he views as unfair terms related to some of the deals on his five-day trip.
During a press conference with Chinese Premier Li Keqiang at Beijing’s Great Hall of the People, Mahathir thanked China for agreeing to increase imports of specialty agricultural products, such as durian fruit.
But Mahathir also said he expected more from the world’s second largest economy.
“I believe that China will look sympathetically towards the problems that we have to resolve and perhaps help us in resolving some of our internal fiscal problems,” he said.
During his nine-year rule, Najib was accused of cutting quick deals with Beijing in return for help paying off debts linked to a massive financial scandal that ultimately helped bring down his long-ruling coalition.
Last week, Mahathir had said that he would look to cancel or modify the previous administration’s agreements with China, stressing that “the most important thing is for us to save money”.
Mahathir is seeking to cut Malaysia’s national debt, which has ballooned to some $250 billion.
Despite the threat to revise China-linked contracts, Mahathir is seeking to strengthen business ties with Beijing during the trip.
He met the founder of e-commerce giant Alibaba, Jack Ma, in the eastern city of Hangzhou on Saturday. Mahathir also oversaw the signing of a cooperation agreement between Chinese auto firm Geely and Malaysian carmaker Proton.
China is the top trading partner of Malaysia, which is home to a substantial ethnic Chinese minority.
Bilateral ties were warm under the old regime, and Chinese investment into the country surged as Beijing signed deals for major infrastructure and construction projects.
But critics said there was often a lack of transparency and the terms, such as interest rates on loans, were unfavourable to Malaysia, fuelling suspicions about Najib’s real motives.
Najib and his cronies were accused of plundering billions of dollars from a sovereign wealth fund, 1MDB, in an audacious fraud.
Since losing power, Najib has been charged over the scandal and will stand trial. He denies any wrongdoing.
As well as the rail link, which would have run from the Thai border to Kuala Lumpur, the government has suspended a China-backed project to build pipelines after alleging that almost all the money for the work was paid out but only a fraction of the project had been completed. — AFP

DoJ warns public against fake website claiming to be gov’t procurement agency

The Justice department cautioned everyone against a fraudulent organization claiming to be part of the government in order to illegally solicit money and conduct biddings.
The Department of Justice – Office of Cybercrime (DoJ-OOC) warned in a statement on Monday, Aug. 20, “against a fraudulent online scheme involving a certain Philippines Project Award Commission (PPAC), and its supposed authorized agents, Champs Court Business Consulting Agency Services.”
The Justice department’s cybercrime division reported that through the website www.philippinesprojectawardscommission.info, PPAC fronts itself to appear like an “official procurement agency of the Philippine government.”
In its website, PPAC said “The Commission may, by law, do anything to enter any transaction which it considers necessary or desirable for the proper performance of its functions.”
DoJ-OOC said that the PPAC is not recognized by the government nor is it legally registered in the Securities and Exchange Commission (SEC).
“The general public is hereby advised to exercise extraordinary caution in conducting online transactions so as not to unwittingly fall prey to such other similar fake websites,” the Justice department said. — Gillian M. Cortez

HSBC Philippines president resigns

HSBC (Philippines), Ltd. said its president and chief executive officer Jose Arnulfo “Wick” A. Veloso has stepped down from his position.
In a statement, HSBC Philippines said Mr. Veloso has vacated his post and that the successor will “be announced in due course.”
The bank refused to comment further when sought for comments regarding the reason behind Mr. Veloso’s resignation.
Mr. Veloso has been the chief executive of HSBC Philippines since December 2012. Prior to this, he also served as Head of HSBC’s global and markets operations, according to Bloomberg.
He is also the Vice Chairman of the Open market Committee of the Bankers Association of the Philippines. — Karl Angelo N. Vidal

DILG: Almost one-third of Boracay establishments may be allowed to operate in October

By Camille A. Aguinaldo
The government may open Boracay Island by Oct. 26 with at least 30% of the establishments allowed to operate, Department of Interior and Local Government Undersecretary for Operations Epimaco V. Densing said on Monday, Aug. 20.
“The target is between 30% to 50% now that the DENR (Department of Environment and Natural Resources) will release their carrying capacity study. Around 30 to 50% (establishments) may be opened,” he said during the continuation of the Senate hearing on Boracay’s environmental woes.
Four months into the island’s closure, Mr. Densing said several establishments remained noncompliant with the necessary permits from the local and national government as well as the directive to connect to the sewer lines of water concessionaires or to install their own sewage treatment plants (STPs).
According to DILG’s count, there were about 2,384 establishments in Boracay. Mr. Densing said only 71 out of 440 hotels, inns, and restaurants have complete business requirements as of Monday. Meanwhile, only 21 out of 162 establishments have sewage treatment plants based on DENR’s figures presented during the hearing.
In an interview with reporters, Mr. Densing clarified that the government is still looking at 100% compliance of businesses but he said they will have to settle with a 30% target to ensure the improved water quality attained during the closure is maintained with the island’s opening.
“If 30% (of establishments) are connected to the sewer line, only 30% have STPs in total, then we’ll have to open it at 30%… It is not to the interest of everybody to keep Boracay closed. But if you are not following the law to make sure that the water quality that comes out of the island is (class) SB levels, then we’ll have to do with the 30%,” he added.

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