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PSEi climbs to 8,100 level ahead of BSP decision

By Arra B. Francia, Reporter
STOCKS RECOVERED on Thursday even as investors stayed on the sidelines ahead of the central bank’s first policy meeting of the year.
The benchmark Philippine Stock Exchange index (PSEi) bounced back to the 8,100 level yesterday, climbing 0.51% or 41.85 points to close at 8,100.30. The broader all-shares index likewise rose 0.26% or 13.09 points to 4,906.57.
“Index remained quiet for most of the day as the market awaited on the Bangko Sentral ng Pilipinas’ (BSP) decision on its policy rate this afternoon — with consensus expecting rates to remain steady,” Papa Securities Corp. Sales Associate Gabriel Jose F. Perez said in an e-mail.
After the market’s close, the BSP announced it left key interest rates unchanged during its policy review on Thursday, keeping the overnight borrowing rate at 4.75%. The central bank earlier said that it would need more time to review its policy after inflation slowed faster than market expectations.
The January headline inflation print stood at 4.4% versus a market consensus of 4.5%.
“The PSE continues to trade sideways ending the day flat, up half a percent right at the 8,100 level. Second-liners are still in the spotlight as blue chips take a break,” Eagle Equities, Inc. Research Head Christopher John Mangun said in a separate e-mail.
The PSEi defied the negativity seen overseas, as Wall Street’s major indices all ended with losses. The Dow Jones Industrial Average dipped 0.08% or 21.22 points to close at 25,390.30. The S&P 500 index went down 0.22% or 6.09 points to 2,731.61, while the Nasdaq Composite index tumbled 0.36% or 26.80 points to 7,375.28.
Meanwhile, most Asian indices closed higher on Thursday, although markets in China, Hong Kong, and Taiwan remain closed for the Lunar New Year.
Back home, four sectoral indices moved to positive territory, led by holding firms which jumped 1.06% or 84.21 points to 8,015.31. Financials followed with an increase of 0.25% or 4.64 points to 1,857.82. Property firmed up 0.17% or 6.87 points to 4,008.42, while mining and oil added 0.47 point to 8,739.77.
In contrast, industrials shed 0.04% or 5.06 points to 11,794.32, while services slipped 0.03% or 0.61 point to 1,619.90.
Some 3.43 billion issues valued at P7.42 billion changed hands, slightly higher than the previous session’s P7.32-billion turnover.
Despite the PSEi’s increase, market breadth favored decliners at 115 versus 96 advancers and 47 stocks that ended flat.
Net foreign inflows went down to P610.59 million on Thursday from Wednesday’s net purchases worth P947.17 million.
“We got the closing above 8,100 sooner than I expected. From a technical standpoint, the market is extremely healthy and if we get any excitement, we might just see it shoot up to the next resistance at 8,200,” Eagle Equities’ Mr. Mangun said.

Peso drops ahead of BSP

THE PESO weakened a tad against the dollar on Thursday as investors awaited the result of the central bank’s policy meeting.
The local unit ended yesterday’s session at P52.24 versus the greenback, slightly weaker than the P52.235-per-dollar finish last Wednesday.
The peso opened the session weaker at P52.30 against the dollar and slipped to as low as P52.365 intraday. Meanwhile, its best showing stood at P52.20 versus the US currency.
Dollars traded climbed to $1.269 billion from the $746.4 million that switched hands the previous day.
A foreign exchange trader said the peso initially traded weaker amid huge demand for the dollar.
“I would say it consolidated throughout the day, although the peso traded significantly [higher] to close almost the same level where it closed [on Wednesday],” the trader said in a phone interview.
The trader added that the local unit consolidated ahead the policy decision of the Bangko Sentral ng Pilipinas (BSP).
As expected, the central bank kept its interest rates steady during the meeting of its policy-setting Monetary Board yesterday amid expectations of a “more manageable” inflation environment.
Inflation in January stood at 4.4%, marking the third straight month of deceleration from the 6.7% print recorded in September and October, as food, transport and utility prices grew at a slower pace.
“If we go by the pronouncements of the BSP, it’s still supportive of the peso,” the trader added.
Another trader said in an e-mail that the local unit closed relatively sideways on uncertainty ahead of the rate decision, which was released after the trading session.
For today, the first trader expects the peso to trade between P52.15 and P52.45 versus the dollar, while the other gave a slimmer P52.10-P52.30 range.
“The peso might appreciate [today] as the BSP confirmed market expectations of easing price pressures and remarked that local inflation has now became more manageable,” the second trader noted. — K.A.N. Vidal

Phoenix stakes unbeaten record vs streaking NLEX

By Michael Angelo S. Murillo
Senior Reporter
THE LEAGUE-leading Phoenix Pulse Fuel Masters go for their fifth win in as many games in the PBA Philippine Cup when they collide with the NLEX Road Warriors today at the Mall of Asia Arena.
The lone unbeaten team left in the season-opening Philippine Basketball Association tournament, the Fuel Masters (4-0) seek to continue rolling against the steadily ascending Road Warriors (2-3) in their scheduled 4:30 p.m. match
Playing in the main game at 7 p.m. are the Rain or Shine Elasto Painters (4-1) and the Northport Batang Pier (2-1).
Phoenix is coming off a 114-95 victory over the Blackwater Elite on Feb. 1, the most recent in its string of wins.
Leading the charge for the Fuel Masters in their strong start is league leading scorer Matthew Wright, who is averaging 20.5 points to go along with 6.8 rebounds and 4.5 assists.
Backstopping him are Calvin Abueva (15.3 ppg and 12 rpg), Jason Perkins (13.3 ppg) and Justin Chua (11.8 ppg).
Also chipping in their fair share for Phoenix are veterans JC Intal, Alex Mallari and LA Revilla.
“Honestly it’s a great feeling. I’m very happy on how we’ve been playing,” said Mr. Wright following their victory over Blackwater.
But the Gilas Pilipinas player was quick to point out that they have not accomplish anything yet and that they have to continue putting in the work to improve and establish consistency in winning.
“We’re still far from where we need to be,” Mr. Wright said.
Looking to stop the streaking Fuel Masters are the Road Warriors, winners of their last two matches after starting their campaign in the All-Filipino tournament with three straight losses.
NLEX defeated the Meralco Bolts, 87-83, on Feb. 2 in a hard-fought game that saw the former rising to the challenge down the stretch.
The Road Warriors had a balanced attack, led by JR Quiñahan’s 16 points with Bong Galanza (14 points), JP Erram (12) and Kevin Alas (12) providing needed help.
Mr. Erram, an offseason acquisition by the team and the current PBA player of the week, also came up big on the defensive end, chalking up a game-high five blocks, including a crucial one in the closing seconds to help preserve the win for his team.
Winning back-to-back, NLEX coach Yeng Guiao said it is a good sign for them and that hopefully they get to continue the trend to make up for their slow start,
“I think this is a good sign for us. We’re trying to recover from a bad start so with this we’re able to get some momentum which we hope to build on in our next game,” Mr. Guiao said.
Unfortunately for NLEX it will be missing the services of Mr. Alas, who reinjured his right knee during their game versus Meralco. The NLEX guard, an MRI showed, suffered another ACL injury which will sideline him for months.
Meanwhile in the second game, Rain or Shine looks to stretch its winning streak, which currently stands at two, against Northport, which is aiming to bounce back after losing in its last game.

3M finding a compelling story in UP men’s basketball squad

By Michael Angelo S. Murillo
Senior Reporter

THE University of the Philippines men’s basketball team had a magical run in its University Athletic Association of the Philippines Season 81 campaign that saw it making it back to the finals after three decades.
It was one of the feel-good stories in the first half of the ongoing season of the UAAP, resonating of a team who had nothing to become something.
The Fighting Maroons are one in admitting that the huge support they have gotten from the school, alumni and other groups with similar vision like them in the last few years has done wonders in turning things around for a long-struggling basketball program.
One of the early groups to heed the call to rally behind the UP men’s basketball team was 3M Philippines, which found an all-too-familiar situation with the Maroons that coming on board to support was a “no-brainer.”
In an e-mail correspondence with BusinessWorld, Ariel Lacsamana, president and managing director of 3M Philippines, shared that their group connected with the story of the Maroons that for them to come in as a corporate sponsor did not need much convincing.
“We have always been looking for opportunities to accelerate brand recognition for 3M in the Philippines. It is also undeniable that basketball is to a certain extent the no. 1 sport here whether professional or college level… That in itself made sense. As a multinational company however, that also meant several due diligence and vetting had to be done on our part — when that was completed, discussions to understand the situation of this title-hungry team proceeded. Through NowheretogobutUP Foundation and Coach Bo Perasol, we got an overview of the situation. They shared the somewhat sad plight of the team such as facilities that needed upgrading, a training system that needed some overhaul and the overall morale that needed boosting both for the team and the UP community. Basically, they needed someone to believe in them and support them,” wrote Mr. Lacsamana, who is also a UP alumnus.
“This (UP plight) resonated with us as a company. The hunger for success as well as repeated frustration and not achieving the goal was all-too-familiar. As a company, failure and mistakes is not something we shy away from. History can tell you that — 3M — started from a failed mining venture. It is that resilience and courage to persevere that allowed the company to evolve and in fact thrive — now becoming a company with $32 billion in sales,” he added.
While 3M is no longer a stranger to athletics sponsorship, having dipped its hands in its headquarters in Minnesota in the United States, with the University of Minnesota Golden Gophers and Minnesota Vikings, to do such in the Philippine setting has been a great, and beneficial, experience, for the group, Mr. Lacsamana said.
“The corporate sponsorship allowed for the 3M brand to be experienced differently in a setting where they normally don’t catch us — in basketball arenas with nationwide coverage. That gave us an opportunity to introduce a familiar brand like 3M to a new audience,” said the 3M official.
Adding, “They are a source of inspiration — to us how they changed the narrative of their story and their resilience is an amazing testament to our employees. It’s win-win.”
Mr. Lacsamana went on to say that they give a lot of credit to the Maroons for the kind of season they had while also saying they take pride in being part of such a journey.
“We’ve always believed a Final 4 appearance, which they committed to from the start. Even when it was a 5-3 slate, we continued to believe. We merely gave consistent support. The pleasant surprise was the finals. They joked that we were the lucky charm — but we know for sure it was the team’s hard work and the community’s strong support that clinched it for all of us,” he said.
“Yes, there is sense of pride, the team’s win is a beautiful story of overcoming odds and challenges. We knew what they had to go through — the challenges were both internal and external. The mindset change was key. Like everyone else, this story that unfolded was energizing for us, too,” Mr. Lacsamana added
Mr. Lacsamana said that moving forward they will continue to support the UP basketball team while also exploring other avenues to give back to the community.
“Our priorities are assessed along with our available resources. We go where we can help the most while delivering exposure for the brand — it is an investment after all. In 2019, among the focused priorities include corporate social responsibility through 3M gives and still a strong support for education and science,” he said.
“We will always be a supporter for the team — cheering them on whether as a partner or in the sidelines. Season 81 is a history-making season which we are grateful and proud to be part of. We look forward to a strong season 82 for the team,” Mr. Lacsamana added.

Obstacle course racing finally finds place in the sporting sun

THE sport of obstacle course racing (OCR) in the country is steadily getting its legs, something proponents of it are very happy and excited about.
Part of the 56 sports featured later this year in the Southeast Asian Games which the Philippines is hosting, people who are championing OCR locally said it is a recognition that they surely welcome as it validates what they always knew about the sport’s potential.
“The past two years saw the growth of obstacle course racing in the Philippines. We started small in 2017 but now we are pretty huge. The vision is now a reality. We dreamt of being part of the SEA Games, and now it’s here. Hopefully next is the Olympics,” said Al Agra, president of the Pilipinas Obstacle Sports Federation (POSF), the governing sports association for Obstacle Sports/Obstacle Course Racing in the Philippines.
Speaking at the media launch of Pretty Huge Obstacles, an indoor obstacle course training facility which would serve as the official cross-training venue of national athletes, including the Philippine OCR team, Mr. Agra said they in the federation are appreciative of the “blessings” the sport has been getting.
Mr. Agra shared that the recognition they got from the sporting bodies in the country, particularly the Philippine Olympic Committee, has allowed them to expand their program and mission, including the institution of a ranking system among athletes and certification of coaches.
For the SEA Games, Mr. Agra said they are aiming to do well, if possible win all the six gold medals up for grabs in the OCR event.
“We will strive for six gold medals. We have the facility, the whole cycle, and the whole aspects,” said Mr. Agra when asked of their expectations in their SEA Games debut.
He added that this early the national team is preparing hard to have a good showing in the Games.
Apart from training locally, team members are slated to train abroad along with some of the top OCR racers in the world.
The 2019 SEA Games takes place from Nov. 30 to Dec. 11 with Obstacle Course events slated to take place in Subic, Zambales. — Michael Angelo S. Murillo

Filipino NM Silva tops First Thammasat University Rapid Chess in Thailand

FILIPINO National Master (NM) Winston Joseph Silva scored 1.5 points in the last two rounds to emerge overall champion in the First Thammasat University Rapid Chess Championships held at the Thammasat University Library on Feb. 2 in Bangkok, Thailand.
The Tagum City, Davao del Norte, native Silva halved the point with Fide Master Yaaqov Vaingorten of Canada in the fifth and penultimate round then beat countryman Necodemus Dimayuga of the Philippines in the sixth to finish with 5.5 points in the six-round tournament.
The former University of Sto. Tomas top chess player Silva who is also the operations and marketing coordinator at Jirapak Chess Academy in Thailand earlier beat Nuttapong Chantraraprathin of Thailand in the first round, Siam Pern of Thailand in the second round, National Master Ric Portugalera of the Philippines in the third round and Phanuwat Taowalof Thailand in the fourth round, respectively.
“Thank you Jesus for my first ever open chess title in Thailand.” said Mr. Silva, a part of the elite roster of World Chess Federation (FIDE) instructors and a former curriculum director at Big Rook Chess Academy in Bangkok.
Tinnakrit Arunnuntapanich of Thailand, Fide Master Deniel Causo of the Philippines, Fide Master Yaaqov Vaingorten of Canada and Fide Master Thanadon Kulpruethanon of Thailand shared second to fifth places with 5.0 points.
Final Standings: (Six Round Swiss System, 15 minutes plus 10 seconds increment)

5.5 points — NM Winston Joseph Silva (Philippines)

5.0 points — Tinnakrit Arunnuntapanich (Thailand), FM Deniel Causo (Philippines), FM Yaaqov Vaingorten (Canada), FM Thanadon Kulpruethanon (Thailand)

4.5 points — Thoetsak Wongsawan (Thailand), Prin Laohawirapap (Thailand)

4.0 points — Necodemus Dimayuga (Philippines), Kavin Nattavutthisit (Thailand), Ronald Nonles (Philippines), WNM Arvie Lozano (Philippines), Apichit Buakird (Thailand), NM Ric Portugalera (Philippines), Pinatpong Pheephacharakan (Thailand), Jarunpol Sajjapornthep (Thailand). — Marlon Bernadino

Lowly NY Knicks still rule Forbes’ list at $4 billion

LOS ANGELES — The New York Knicks have the NBA’s worst record, but Forbes says the franchise remains the league’s most valuable for the fourth consecutive year at $4 billion.
The Los Angeles Lakers ($3.7 billion), Golden State Warriors ($3.5 billion), Chicago Bulls ($2.9 billion) and Boston Celtics ($2.8 billion) round out the top five in the annual rankings released Wednesday.
According to Forbes, the average NBA team is worth $1.9 billion, a 13% increase from last year.
The Knicks boosted their value by 11% since 2018, despite spiraling toward their sixth consecutive season without a playoff berth. Forbes said the franchise is still reaping the rewards of a $1 billion renovation to Madison Square Garden that was completed in 2013.
The Knicks are tied with the New York Yankees as the second-most-valuable US sports franchise behind the Dallas Cowboys, worth an estimated $5 billion.
The Philadelphia 76ers had the NBA’s biggest increase in value for the second straight year, up 40% to $1.65 billion.
The Memphis Grizzlies were the least-valuable franchise at $1.2 billion. — Reuters

LBC Ronda Pilipinas 2019 kicks off in Iloilo City

THE LBC Ronda Pilipinas 2019 starts today in Iloilo City with local teams headed by Navy-Standard Insurance, Go for Gold and 7-Eleven Cliqq-Air21 by Roadbike Philippines aiming to fend off the strong foreign challenge.
The Navymen will go for their sixth straight team title while the Go for Gold and 7-Eleven riders, who are both Continental teams, will rely on their international experience to carry the fight for the host country in this five-stage, UCI-sanctioned race participated in by 15 teams of six riders.
Navy is a loaded team as it will be bannered by reigning Ronda champion Ronald Oranza, two-time winner and skipper Jan Paul Morales and 2018 Le Tour titlist El Joshua Cariño and composed of Ronald Lomotos, Junrey Navarra and Rudy Roque, who are all capable of pulling a surprise or two.
Go for Gold, for its part, is skippered by Ronnel Hualda and is comprised of Ronilan Quita, Jonel Carcueva, Elmer Navarro, Boots Ryan Cayubit and newly-acquired Daniel Van Carino, who was formerly of Navy and 7-Eleven.
The 7-Eleven squad will be minus its long-time leader Mark Galedo but remained a legitimate contender having Marcelo Felipe, 2012 Ronda king Irish Valenzuela, Rustom Lim, George Oconer, Dominic Perez, Arjay Peralta.
Other local teams in the mix are Team Franzia of two-time Ronda winner Santy Barnachea, Army-Bicycology, Team Tarlac and a Jaybop Pagnanawon-led Bike Xtreme squad.
They will be up against world-class competition in Terengganu, Matrix, Nex Cycling Team, Korail Team Korea, Custom Cycling Indonesia, Cambodia Cycling, PGN Road Cycling and Sri Lanka Navy Cycling Team.
The event is presented by LBC, powered by MVP Sports Foundation and supported by Versa 2-Way Radio, Juan Movement Partylist, Joel P Longares Foundation, Standard Insurance, Bike Xtreme, Green Planet, Prolite, Celeste Cycles, Maynilad, 3Q Sports, Boy Kanin, Mega World, Festive Walk, Seda Atria and LBC Foundation and in partnership with the Department of Tourism, Department of Environment and Natural Resources, Iloilo City and the Province of Guimaras.
The race opens with the 197.6-kilometer Iloilo-Iloilo Stage One on Feb. 8 and will proceed with the 101.8km Guimaras-Guimaras Stage Two the next day.
The cavalcade will then go back to Iloilo for the 179.4km Iloilo-Roxas City Stage Three on Feb. 10 followed by the 146.9km Roxas-Roxas Stage Four on Feb. 11.
It will conclude with the 148.9km Roxas-Antique Stage Five on Feb. 12.
The awarding ceremony will be held in the island paradise of Boracay the same day.

New Orleans Pelicans to sit healthy Davis until deadline passes

THE NEW Orleans Pelicans confirmed that All-Star forward Anthony Davis will not play before Thursday’s 3 p.m. ET trade deadline, keeping him out of Wednesday’s game at Chicago against the Bulls.
Davis, who has requested a trade, has missed the last eight games with an injured left index finger. But that does not seem to be the reason the Pelicans will not be using him Wednesday night.
“He is (available) but we’re not going to play him until after the trade deadline,” Pelicans head coach Alvin Gentry said at shootaround Wednesday morning. “I think you can understand that. I think everybody can understand that.”
Davis participated in the shootaround, but now the waiting game begins.
The Los Angeles Lakers have been the most talked-about landing spot for Davis, but ESPN reported Wednesday afternoon that LA’s most recent trade proposal has not garnered a response from the New Orleans front office.
The Pelicans have gone 2-6 without Davis in the lineup. His trade request came last week after he informed the Pelicans he would not sign a contract extension with the team.
“It’s going to eventually get resolved,” Gentry said Wednesday. “But I think the guys we have right now are playing extremely hard. I don’t think we have anything tangible to show for it, but I think we have been very much competitive with guys who have been put in roles that they aren’t accustomed to.” — Reuters

Golden State Warriors’ Durant under pressure to break silence

KEVIN Durant’s silence could come to an end Wednesday.
With media reports swirling that Durant is ready to leave Golden State in free agency this summer and speculation mounting where the Warriors’ star might land, a source close to the situation confirmed to Field Level Media that the NBA and Warriors were in discussions about ending his relative silence.
While some have couched the Durant saga as a media boycott, he has conducted one-on-one interviews, eschewing press conferences and group sessions after shootarounds and games. He again opted not to talk after shootaround Wednesday.
The NBA was largely left unaware of Durant’s mounting situation with the media until Tuesday.
Durant, who previously ripped media reports stating he wouldn’t want to play with LeBron James, could be subject to penalty if he continues avoiding the press until next Saturday, when the NBA holds All-Star Media Day in Charlotte.
The All-Star is entering the ninth day of the standoff, as chronicled by The Athletic in a story published Tuesday outlining where Durant stands and the presumption he will not return to the Warriors for another season. — Reuters

Houston Rockets acquire Shumpert in 3-team trade

THE HOUSTON Rockets acquired guard Iman Shumpert on Wednesday night in a three-way trade that involved the Sacramento Kings and Cleveland Cavaliers, according to a report from ESPN.
The Rockets also landed guards Nik Stauskas and Wade Baldwin from Cleveland in the deal. Both players joined the Cavaliers two days earlier in a trade that sent Rodney Hood to the Portland Trail Blazers.
The Kings, who gave up Shumpert, will receive guard Alec Burks from the Cavaliers in the deal.
Cleveland is set to receive guard Brandon Knight, forward Marquese Chriss and a protected 2019 first-round pick from the Rockets.
Shumpert, 28, could become a key bench player for the Rockets as they pursue a deep run in the Western Conference playoffs. He averaged 8.9 points, 3.1 rebounds and 2.2 assists in 42 games (40 starts) for Sacramento this season.
Burks, 27, spent his first seven-plus seasons with the Utah Jazz before the Cavaliers acquired him in November in a deal that sent Kyle Korver out west. Burks is averaging 10.6 points and 4.2 rebounds in 51 games (24 starts) this season.
Cleveland will bring in Knight, 27, and Chriss, 21. Knight appeared in 12 games off the bench for the Rockets, averaging only 3.0 points, while Chriss averaged 1.8 points in 16 games during his first season in Houston after two years with the Phoenix Suns. — Reuters

Raptors trade guard Richardson to Sixers

THE TORONTO Raptors traded guard Malachi Richardson, the draft rights to forward Emir Preldzic and a future second-round draft pick to the Philadelphia 76ers on Wednesday for cash considerations.
Richardson, 23, was a first-round pick (22nd overall) by the Charlotte Hornets in 2016. He played in 22 games as a Raptors reserve this season, averaging 1.4 points and 4.7 minutes. In 12 games with Raptors 905 in the G League, Richardson has averaged 20.8 points, 5.8 rebounds and 3.4 assists. — Reuters

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