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The 2018 MVP Bossing Awards

PLDT Enterprise kicks off the last quarter of the year with a bang with the 2018 MVP Bossing Awards. Raking in over 500 guests—made up of both new and old awardees, as well as the group’s most esteemed clients—this year proved to be the grandest and most historical iteration of the event yet.
Held at the Grand Ballroom of Grand Hyatt Manila in Bonifacio Global City, guests were greeted with a larger than life interactive hall of fame that showcased the MVP Grand Bossing Awardees of years past. Adorned in black, gold and red trimmings, the ballroom was indeed suited to award the country’s top entrepreneurs and trailblazers.
To begin the night’s festivities, hosts Miss World 2013 Megan Young and TV journalist Atom Araullo called on SVP & Head of PLDT and Smart Enterprise Business Groups Jovy Hernandez for the opening remarks.
“Tonight, as we unveil our new roster of Bossings, we hope that their stories and legacies continue to inspire the Filipino entrepreneur,” Hernandez said.
Balladeer Jed Madela—together with the AMP Band, led by maestro Mel Villena—then followed with a powerful medley of “Go The Distance,” and “I Believe,” alluding to the journeys of success of this year’s winners.
Following the musician’s number, guests were then served with a sumptuous three course spread. After which, Hernandez, together with FVP & Head of PLDT SME Nation Mitch Locsin, FVP & Head of PLDT ALPHA Vic Tria, and 2010 MVP Bossing Awardee and Presidential Adviser for Entrepreneurship Joey Concepcion then came onstage as presenters of the night’s awards. Each awards category was headlined by the key values of a Bossing, namely, a commitment to excellence, fearlessness and integrity.
The first to be awarded for the night were the Special Awards, followed by the MVP Bossing Awardees—both of which recognized individuals whose successes were paved by a relentless commitment to excellence.
For the Special Awards, BellasArtes Projects founder Jam Acuzar was recognized as the recipient for Excellence in Corporate Social Responsibility because of her work in promoting local art and community development, while Mandaluyong City Mayor MenchieAbalos, was given the Excellence in Public Service Award for improving the lives of her constituents through digital transformation. Receiving the award on her behalf was her husband and former Mandaluyong Mayor and Congressman BenhurAbalos.
Among winners for this year’s MVP Bossings on the other hand were Mary Grace Dimacali, founder of Mary Grace Foods Inc., Margarita Forés, founder of Cibo; Johnlu Koa, founder of The French Baker Inc.; David Leechiu, CEO of Leechiu Property Consultants; Benjie and MaanLolim, founders of LDP Farms; Richard Sanz, CEO of The FoodAsia Group; DioceldoSy, Chairman of Ever Bilena Cosmetics; Raj Uttamchandani, Chairman and CEO of Esquire Financing Inc.; and DelfinWenceslao Jr., Director & Chairman of the Board at D.M. Wenceslao and Associates Incorporated.
Hernandez, Tria, Locsin, and Concepcion were then joined on stage by PLDT Chairman and CEO Manny V. Pangilinan, 2010 MVP Bossing Awardee and Potato Corner founder Joe Magsaysay, 2011 MVP Grand Bossing and Lamoiyan Corporation CEO Dr. Cecilio Pedro, and 2013 MVP Grand Bossing and Founder & CEO of Golden ABC Inc., Bernie Liu to welcome the succeeding set of winners.
Next up was the MVP Grand Bossing Award—an accolade given to an individual whose career had embodied the virtue of fearlessness.  Shipping magnate Doris Magsaysay-Ho, A. Magsaysay Inc,’s President and CEO, took home the prestigious award for how she transformed the hospitality and maritime  service industry through the Magsaysay Training Center.
“I can’t imagine receiving an award for something I love to do—this is something I learned from my father. He taught me how to love shipping, he taught me how to love business, he taught me to love everything we do—every minute of it,” a humbled Magsaysay-Ho said, waxing nostalgic.
Before announcing the night’s biggest honor—the MVP Bossing Lifetime Achievement Award—which was to be bestowed upon an individual who had built his career with an unwavering honesty and commitment to his entrepreneurial vision—Jed Madela and YengConstantino took to the stage to duet “Rise Up,” an anthem of triumph fitting for the event.
Following their moving rendition, Pangilinan then proudly named Metrobank Founder and Group Chairman Dr. George S.K. Ty as the inaugural recipient of the said award, given how he had put up one of the country’s premier financial institutions. Receiving the award on Ty’s behalf was his son, Co-Vice Chairman of GT Capital Holdings Inc. Alfred Ty.
“With this award, we affirm in history that Mr. Ty is—and will always be—an authority in Philippine banking,” the younger Ty said proudly.
“On behalf of our lifetime awardee Dr. George S.K. Ty, and my family members who are with me this evening, together with our senior officers of the group of companies—led by Francis Sebastian and Fabian Dee—allow me to thank everyone for this honor,” he later added.
“In the last decade, the MVP Bossing Awards has sought to recognize  business leaders responsible for placing the Philippines at the forefront of entrepreneurship. Our 2018 Bossings have indeed set the bar, equipping fellow entrepreneurs with the most favorable business landscape–and that is definitely worth celebrating,” PLDT & Smart Chief Revenue Officer and ePLDT President & CEO Eric R. Alberto said of this year’s awards night.
Pangilinan—of whom the awards night has been eponymous to—also shared his sentiments on the success of the event saying, “It fills me with great pride to award our newest set of Bossings with these laurels. Not only do they speak multitudes of their exemplary work as entrepreneurs, they are also a testament to their contribution in uplifting our nation as a whole. Cheers to you all!”
This year’s MVP Bossing Awards has indeed outclassed previous iterations in both scale and impact—further promoting PLDT Enterprise’s advocacy of nation-building through entrepreneurship and leadership.

The selfless servant

During his tenure as the country’s Department of Foreign Affairs (DFA) Secretary from 2011 to 2016, Albert F. del Rosario exemplified a strong patriotism beyond the call of duty. With great passion and discipline, he defended the sovereignty and territorial integrity of the country, and worked persistently in ensuring the welfare and security of the Filipinos all over the world. At present, although he is no longer holding a public post, Mr. del Rosario behaves as one of the vocal critics of the current administration, speaking on behalf of the Filipino people.

Before holding a government position, Mr. del Rosario had an eventful journey. Born in Manila on Nov. 14, 1939, the now 79-year-old patriot finished his elementary and high school education in New York City. He earned an undergraduate degree in Economics from New York University, attending school at night and having three jobs during the day and weekends to fund his four years of college.

In a previous interview with BusinessWorld, Mr. del Rosario shared that he decided to take up a degree in Economics as he thought it is an excellent course to understand business and market dynamics. He added that he did not pursue higher studies as he started a family at an early stage, where he was married to Gretchen de Venecia, with whom he has five children.

Mr. del Rosario has an expansive experience in the private sector, holding top level positions in various companies that cut across different industries, including insurance, banking, real estate, shipping, telecommunications, consumer products, retail, pharmaceutical and food industries.

Some of the most significant accomplishments Mr. del Rosario achieved when he was in the private sector, according to him, were: the establishment of Gotuaco, Del Rosario and Associates (GRA), a leading professional insurance broking and consulting firm in the country today; the development of the Pacific Plaza Towers in Taguig City and the Pacific Plaza in Makati City with Metro Pacific Investments Corporation; and the opportunity to serve on the boards of various companies of the First Pacific Company Ltd. and the Salim Group.

From the private sector, Mr. del Rosario’s foray into public service started when former President Gloria Macapagal-Arroyo appointed him as the Philippine Ambassador to the United States (US) in 2001.

Being in public service was not what Mr. del Rosario had in mind. “It was an unplanned endeavor. Once asked, however, it was an honor to accept the opportunity to serve one’s country,” he said.

Within five years of his tenure, Mr. del Rosario was instrumental in securing $1.2-billion assistance in grant from the US, realizing investments in the country’s business process outsourcing (BPO) industry, and acquiring broader access for Philippine exports.

He also led the formation of the Philippines-US Friendship Caucus, and the successful launch of a challenge to the decision of the California Public Employees Retirement System (calPERS) to delist the Philippines from its approved investment locations.

Moreover, Mr. del Rosario lobbied before the US Congress not to prejudice the Philippine canned tuna industry, undertook efforts to realize major benefits for Filipino and Filipino-American veterans, and pioneered the Annual Ambassadors/Consuls General Tour (ACGT) of the Philippines.

In 2016, Mr. del Rosario was forced to step down from his post due to conflicting viewpoints with the Arroyo government. “I will never forget that I was fired for refusing to support the plan to lift the writ of habeas corpus and to declare emergency rule — but reflecting on it, being shown the door was a good way to go,” he said.

It took several years before Mr. del Rosario went back to the government when former President Benigno C. Aquino III appointed him as DFA Secretary in 2011.

“It was truly a distinct honor and privilege to serve the country under President Aquino’s leadership,” Mr. del Rosario said, who, however, confessed that the demands of the job were complex, daunting, and exponential. “We were, at most times, short of sleep,” he added.

Throughout his journey as chief of foreign affairs, Mr. del Rosario was recognized for bringing dynamism to the DFA. He pursued a foreign policy that is independent, principled, and based on the rule of law.

In terms of economic diplomacy, a total of 205 economic agreements were signed during his time, covering labor, trade, education, tourism and air services. In addition, the country had four rounds of negotiations on the Philippines-Europe Free Trade Association (EFTA) Free Trade Agreement (FTA).

On advancing national security, Mr. del Rosario made the West Philippine Sea issue a foreign policy priority. He pushed for the primacy of the rule of law, including the United Nations Convention on the Law of the Sea (UNCLOS), and for the peaceful settlement of disputes. 

Mr. del Rosario also showed an incredible bravery in protecting the lives of Filipinos abroad. Barely two days of being sworn into office, Mr. del Rosario traveled to Libya to extricate some 400 overseas Filipinos out of the war-torn city and bring them into the Libyan-Tunisian border. He risked his personal life several times thereafter, leading more repatriations of over 24,000 Filipinos in Syria, Yemen, Iraq, and Egypt. From 2011 to 2015, the DFA had the chance to extend assistance to over 80,000 overseas Filipinos and members of their families.

Moreover, Mr. del Rosario embarked on and pursued a  carefully thought-out DFA transformation program which includes restoring morale by further strengthening the career service corps; upgrading economic diplomacy skills through a partnership with Asian Institute of Management; placing merit over seniority in the career advancement process; rationalizing Philippine presence overseas and reallocating resources where these are most needed; bringing cost-effective consular services closer to the public by moving DFA offices to major shopping centers; and encouraging all foreign service personnel to reach beyond their grasp and promote national interest at all times, among others.

Albert F. del Rosario with his family

After 10 years of serving the country and the Filipino people as the Philippine Ambassador to the US and as the Secretary of the DFA, Mr. del Rosario has found his steps back to the private sector.

He returned full-time to being an insurance broker in GRA, the firm he founded, together with Lawrence J. Gotuaco, over 50 years ago. He also continues to chair the Stratbase ADR Institute, an independent international and strategic research organization with the principal goal of addressing the issues affecting the Philippines and East Asia.

“As chair of ADR Institute, I strive to speak for our people — especially for those who cannot speak on matters of national interest. My call is for our people to speak with one voice in promoting our demographic values and enhancing our advocacy for the rule of law,” Mr. del Rosario told BusinessWorld in a recent interview.

Mr. del Rosario is also back to serving the boards of various companies, including the First Pacific Company Ltd.; PLDT, Inc.; MPIC; and Rockwell Land Corp.

He is also once again involved in promoting social and civic causes by being on the board of trustees of the Philippine Cancer Society, chair of the Citizens Fund for Human Rights, and senior advisor of the Metrobank Foundation, Inc.

Currently, Mr. del Rosario endeavors to spend much of his time being with his family, especially his six grandchildren. — Mark Louis F. Ferrolino

The measure of a patriot

It is said that you can find patriotism in the simple act of doing one’s duty. Ask not what your country can do for you — as the famous quote by John F. Kennedy goes — ask what you can do for your country.

In his term as Secretary of the Department of Foreign Affairs (DFA) from 2011 to 2016, Albert F. del Rosario had been steadfast in carrying out his duty, taking care of Filipinos in the diaspora, defending the nation’s territory and sovereignty in the face of foreign powers, and working toward an ideal government that is responsive, dynamic, and most importantly, compassionate. And in doing this, he has been recognized as one of the Philippines’ most influential patriots.

At the Asia CEO Awards, an annual awards program that recognizes outstanding leadership achievements by individuals and organizations in the Philippines and across the ASEAN region, the former DFA chief was lauded for his efforts in staunchly defending the country’s sovereignty and territorial integrity under the Aquino administration.

Ateneo de Manila University, which has awarded Mr. del Rosario a doctorate in Humanities honoris causa, wrote in their citation of him, “It is said that a nation has four elements: its people, territory, government, and sovereignty. Albert F. Del Rosario has defended and promoted all of these that constitute what we are as a country. He took care of Filipinos in the diaspora, defended our territory and sovereignty with passion and discipline, and he worked consistently for a better and more dynamic government bureaucracy.”

“Recognizing his brilliance as a diplomat, his love for all Filipinos and especially those in our diaspora, a strong commitment to good and effective governance, personal discipline and an incredible work ethic, his devotion to wife Gretchen and his sons, daughters, and grandchildren, and for patriotism beyond the call of duty, the Ateneo de Manila proudly confers on Albert F. Del Rosario the Honorary Degree of Doctor of Humanities.”

To earn his reputation, Mr. del Rosario took great personal risk to ensure the welfare of Filipinos abroad. He famously hit the ground running, traveling to Tripoli, Libya hours after being sworn into office to help around 400 overseas Filipinos caught in the crossfire of civil war and bring them to the Libyan-Tunisian border. This was merely the first of such incidents as later he led more repatriations of Filipinos in the Middle East — Syria, Yemen, Iraq, and Egypt, in particular — throughout his stint in the department.

Ultimately, over 24,000 Filipinos were repatriated from these countries, protecting them from the worst of civil strife, devastated by natural and other disasters, and struck by pandemics. Overall, the government has assisted more than 80,000 overseas Filipinos and their families under Mr. del Rosario’s watch.

When the Philippines got into a territorial row with China, it fell to him to issue a foreign policy that advocated for the primacy of the rule of law, particularly that of the UN Convention on the Law of the Sea (UNCLOS) and the peaceful settlement of disputes.

Closely working with key agencies, he championed arbitration as an open, friendly, and transparent mechanism in resolving the maritime dispute, negotiated with allies for the Philippine Defense Modernization Program, and consulted with foreign counterparts on policy and operational issues.

It was under his leadership that the Philippines won a big victory in the arbitration case it filed against China. That arbitral award supported the country’s position in the West Philippine Sea and soundly rejected the claims of China.

“Sec. del Rosario has been a tireless voice in drawing attention to China’s assertiveness within the Association of Southeast Asian Nations (ASEAN) as well as in other international fora,” Ateneo de Manila University wrote.

“If, in the end, we will triumph against attempts to undermine our territory and sovereignty, it is because Sec. del Rosario, with other like-minded Filipinos, stood their ground and drew sharp lines in the seas. Future generations will benefit from their vision and courage.”

Even before his term fighting for the nation and its citizens, Mr. del Rosario has already been doing its part towards the development of the country. As the Philippine ambassador to the United States, he was instrumental in securing $1.2-billion US funding assistance for the Philippines, realizing investments in the business process outsourcing (BPO) industry, now the country’s biggest source of growth. He also encouraged more open trade between the two countries, acquiring greater access to the US market for Philippine exports.

During his speech at the Asia CEO Awards, Mr. del Rosario pushed for a foreign policy that focused on several factors including “peace and stability based upon the equality of nations, the rule of law, the peaceful settlement of disputes, respect for human rights and other core principles.”

“The Philippines must therefore be an active participant in building a regional architecture of cooperation, friendship and amity involving all concerned states,” Mr. del Rosario said.

Throughout his career, Mr. del Rosario has done a lot for his country. If you can indeed find a patriot in doing one’s duty, he is nothing short of one. — Bjorn Biel M. Beltran

Leading a transformation

In 2016, a few days after officially stepping down due to health reasons, the former Department of Foreign Affairs (DFA) Secretary Alberto F. del Rosario graced a testimonial luncheon organized in behalf of him by the nonprofit Makati Business Club (MBC), along with the American Chamber of Commerce, Bankers Association of the Philippines, Chamber of Mines, Financial Executives Institute of the Philippines, Management Association of the Philippines, and the Philippine Chamber of Commerce and Industry.

In a speech, which was published by MBC, Mr. del Rosario said, “It has been three days since I retired from foreign service, and it has been a matter of great privilege and profound satisfaction to have served our country and the Filipino people under the leadership of His Excellency [former] President Benigno S. Aquino III, who also is the chief architect of our foreign policy.”

“My role was only to implement policy,” he said.

Over the course of his tenure, the Department of Foreign Affairs achieved great progress in transforming itself into, in the words of Mr. del Rosario, “an organization that is smarter, leaner and more proactive.”

A number of steps were taken to make this possible. And they included restoring morale by further strengthening the career service corps, with Mr. del Rosario noting that the department, at least by the time he left, had the “fewest political appointees as ambassadors in the history of DFA; upgrading economic diplomacy skills through a partnership with the Asian Institute of Management; developing effective strategies to negotiate and assert the rightful position of the country in the community of nations; encouraging foreign service personnel to reach beyond their grasp to promote the national interests; and endeavoring to ensure that the people of DFA were well provided for by continuing to update compensation and allowances, making provisions for a balance foreign posting system and encouraging their professional development.”

Also, the department was able to provide better assistance to more Filipinos who were in need of it. “Assistance to nationals remains a top priority for the Philippines. The DFA takes care of almost eight million overseas Filipinos on a 24/7 basis, in 174 countries, over 40 time zones,” Mr. Del Rosario said.

“Consequently, DFA has maintained its reputation as the ‘department that never sleeps’.”

In a span of three years, from 2012 to 2015, the department provided assistance to over 80,000 overseas Filipino workers and their families, with the Foreign Service personnel giving round-the-clock legal consular assistance, counseling, shelter and labor mediations. The department also did jail visitations and administered overseas absentee registration and voting, among other things.

“In an effort to bring DFA’s consular services closer to the people, 14 of the 19 regional consular offices were already mall-based as of 2015,” Mr. del Rosario said.

It was under his leadership that the department, through its 84 posts, was able to perform a better of role of promoting Philippine trade, investments, tourism and official development assistance (ODA).

“With the DFA strategic plan for economic and cultural diplomacy, we have presumed a one-country team approach and our posts have been guided by the following goals for economic diplomacy: strengthening of DFA structures and capacities in relation to economic activity, contributing to job generation, assisting in poverty reduction,” Mr. del Rosario said.

Since 2011, the DFA signed a total of 205 economic agreements concerning labor, trade, education and air services and twelve cultural agreements, while from 2011 to 2014 it was instrumental in securing $4.33 billion worth of ODA through various bilateral consultation mechanisms and economic diplomacy initiatives.

Mr. del Rosario also led the department in forging partnerships “to manage new realities on defense cooperation.” The department focused on engagement in challenges related to transnational crime, terrorism, maritime security and cooperation, and cooperation on humanitarian emergencies.

The DFA also helped expand the country’s defense and security engagements with its allies. “In 2015, we witnessed the deepening and broadening of the Philippines’ bilateral relations with Japan, Australia and Vietnam,” Mr. del Rosario said, adding that there were several agreements signed with Japan on the sidelines of the 2015 Asia-Pacific Economic Cooperation’s Economic Leaders’ Summit.

He also noted that DFA was able to facilitate the conclusion of 64 agreements the country had on political and defense security matters from 2011 to 2015.

Near the end of his speech, Mr. del Rosario said, “I am deeply saddened by having to step down prematurely from the cabinet. Including my posting as ambassador to Washington, it has been a total of 10 years that I have faithfully served our country.”

He concluded, “At the DFA, we did our best and we gave our all. It has been truly an honor and a privilege.”

An advocate of good governance and Philippine competitiveness

At a time when skyrocketing inflation is presenting economic challenges within the country, and an increasingly tricky global politics posing difficulties, Philippine competitiveness is at the forefront of everyone’s minds. As a country that has been experiencing double-digit growth in the past few years, earning the nickname ‘Asia’s Rising Tiger’, much is at stake.

Former Secretary of Department of Foreign Affairs (DFA) Albert F. del Rosario, who has been integral in the country’s economic development in his term as ambassador to the United States, had long been an advocate of good governance, believing it to be the key to sustain the country’s growth as a developing economy.

“To maintain our momentum as an emerging global player, we need to put political will in developing and executing our programs on improving national competitiveness,” he said in a previous interview.

Mr. del Rosario throughout his career had played a part in the country’s development by helping secure $1.2-billion US funding assistance for the Philippines — investments that eventually bolstered the country’s now-booming business process outsourcing (BPO) industry — and acquiring greater access to the US market for Philippine exports.

Serving as DFA chief, he underscored the economic role of the foreign affairs department and revitalized it through the successful promotion of Philippine trade, investments, tourism, and official development assistance (ODA), in cooperation with its partner agencies. During his time, more than 205 economic agreements were signed, covering labor, trade, education, tourism, and air services from 2010–2016.

Prior to his work in government, Mr. del Rosario was an accomplished corporate executive whose business career included work in various industries: insurance, banking, real estate, shipping, telecommunications, consumer products, retail, pharmaceutical, and food. Many, if not all, of his achievements were accomplished through his belief that strong, dynamic government action is the key towards creating a lasting influence in the country’s development.

“The Philippines continues to rise towards competitiveness as reflected in the results of various global competitiveness reports,” he said.

To sustain this remarkable performance, he said the government must continue to address the primary issues that are crucial for the country’s competitiveness and long-term growth. He identified these primary issues as the development of the country’s human capital and infrastructure, the promotion of peace and order and human security, institutionalization of coherent regulatory policies and systems; and the promotion of policies and strategies on disaster mitigation, preparedness, and management to address the country’s vulnerability to natural disasters.

Such critical problems, particularly inadequate infrastructure and inefficient government bureaucracy that is slow in implementing widespread institutional solutions, should be prioritized by the current administration if Philippine competitiveness were to continue to develop. The country, as it stands, currently is in a good position to carry out significant, far-reaching reforms that could secure the economy’s sustained growth for years to come.

“The Philippines has registered continuous GDP growth despite global economic slowdown. The outstanding performance of the Philippine economy coupled with its strong fiscal position have allowed the government to invest in major public infrastructure that would enhance mobility of goods and people within the country,” Mr. del Rosario said. — Bjorn Biel M. Beltran

Del Rosario on the rule of law

As chief of the Department of Foreign Affairs from 2011 to 2016, then Secretary Albert F. del Rosario advocated for the primacy of the rule of law. With this guiding principle, he became the initiator of the nation’s arbitration case against Beijing since it was filed in 2012. This case aimed at invalidating China’s historical ‘nine-dash line’ claims over the South China Sea, which obstructs Philippines’ right to operate inside its Exclusive Economic Zone.

The fight that the patriotic diplomat lead came to victory as the Arbitral Tribunal in The Hague, Netherlands concluded that China’s claim could not be a legal basis for claiming any portion of the South China Sea.

For this big mark he left among other valuable contributions as foreign affairs chief, Mr. del Rosario — a New York University graduate — received an Honorary Degree last Sept. 25 from the Ateneo de Manila University (ADMU). The Honorary Degree is one of the Traditional University Awards given to persons who reflect the university’s values through their respective fields.

During the awarding ceremony, Mr. del Rosario spoke a response that centered on the rule of law, which he believes to be “a timely and important subject.”

Rule of law in an ‘era of uncertainty’

While the rule of law shall regulate relations within a state, it must also govern international relations, especially that “among states and other international entities.” The former DFA Secretary explained in the response as published in ADMU’s official Web site, “after suffering two world wars, the international community had strived to establish international law as the bedrock foundation for the lawful governance of global affairs.”

However, as Mr. del Rosario observed, “this international order seems beset by challenges on all sides.” As an example, he pointed to the stand-off between Philippines and China. “In the South China Sea, despite our best efforts to find a peaceful and lasting resolution to our disputes that would account for the legitimate interests of all parties, we find China still obstinately acting in a contrary manner,” the diplomat said.

This apparent disorder he has seen led him to say that “we are now in a new era of uncertainty. There is now disarray in the ranks of governments. We are casting around for ways to respond in a meaningful fashion to preserve the established order, while answering the frustration and fury of many electorates.”

In order to manage this era if uncertainty, Mr. del Rosario proposed that we must understand two things. First, it is that “the Philippines has a fundamental and enduring stake in the international system,” since “[o]ver the past 20 years, we have also made profound decisions to become ever more engaged with the world in all dimensions.”

Moreover, he said we must realize “that the Philippines is not insignificant on the world stage,” since the country has been “active in global efforts to create rules for international order that would save us from a dog-eat-dog world of competing powers and naked interests.”

“The lodestone for all this effort, accomplished in various diplomatic forms,” Mr. del Rosario continued, “has been an abiding faith in the centrality of the rule of law.” For him, the rule of law must be upheld together “with other countries and all stakeholders who share a similar faith.”

Rule of law in the Arbitral Ruling

Through the arbitral case against China, the rule of law was advanced. He sees this as a giant step the country took in promoting rule of law. Mr. del Rosario explained: “By initiating and winning its South China Sea arbitral case against China on July 12, 2016, we have shown the world that our country sought to resolve a serious dispute state-to-state in its regional neighborhood solely through legal, peaceful and transparent means.”

And now that the ruling favors the Philippines, Mr. del Rosario urged that “[i]t is the prerogative and the responsibility of an incumbent Administration to decide on our Foreign Policy and to craft our diplomacy.” While pushing efforts to maintain and improve relations with other countries is definitely fine, these efforts must nevertheless be guided by the rule of law. Adhering to it is “the unifying principle that would help most in containing and eventually resolving international disputes.”

“The Rule of Law is the only principle that can transcend the interests of various jurisdictions in the sphere of international relations. If we do not adhere to the Rule of Law, then we consign our regional affairs to the clash of national interests without rules,” the diplomat highly emphasized.

As he shared in an e-mail to BusinessWorld, Mr. del Rosario wants to be remembered as a patriot after he steps down as foreign affairs secretary. As reflected by his speech that night in Ateneo, his firm stand on the rule of law — which was at the core of his foreign affairs task — will surely reflect his unwavering love for our country. — Adrian Paul B. Conoza

Disqualified telco bidders lose appeal

THE SELECTION COMMITTEE for the country’s third major telecommunications service provider on Monday denied the motions for reconsideration (MRs) of groups disqualified from the auction last week for deficiencies in their submissions.
A copy of the decision distributed by the National Telecommunications Commission (NTC) to reporters on Tuesday showed the selection committee denied the request of Sear Telecommunications Consortium — formed by TierOne Communications International Inc. and LCS Group of Companies (Sear-LCS-TierOne) — and Philippine Telegraph and Telephone Corp. (PT&T) for it to reconsider their disqualification from the auction.
The two companies said in separate statements that they were notified of the rejection of their appeals on Monday night.
“The PT&T management and its legal team are currently reviewing the selection committee’s denial of the motion for reconsideration to determine the next course of action that the company will take,” the firm said in a mobile phone message to reporters.
NEXT APPEALS TO NTC
The auction’s terms of reference provide that if a bidder’s MR is denied, it may appeal to the NTC en banc for a non-refundable fee of P10 million.
Sear-LCS-TierOne said in its MR that it wanted the selection committee to review the awarding of provisional winner status to the Mislatel Consortium — formed by China Telecommunications Corp., Dennis A. Uy’s Udenna Corp. and its subsidiary Chelsea Logistics Holdings Corp. — as its franchise holder Mindanao Islamic Telephone Company, Inc. (Mislatel) has an exclusive contract with a member of its group, DigiPhil Technology, Inc.
But the selection committee denied Sear-LCS-TierOne’s petition, saying such dispute should be resolved in appropriate courts.
The committee’s ruling covered the consortium’s plea against its disqualification for lack of a P700-million “participation security” and to be allowed late submission of documents for the required bond. It argued that “non-submission of the participation security in the form required does not affect the substance and validity of the proposal submitted by the consortium.” The committee said it cannot accept changes to a participant’s bid submission after the deadline.
PT&T sought reconsideration of its disqualification for lacking certification of 10-year experience as telco operator on a national scale. It decried what it said was a change in terms of reference that would otherwise have qualified “regional operations” for the auction. This detail was later clarified as valid only for foreign participants.
The disqualified groups have until Thursday to appeal to the NTC.
Otherwise, the selection committee will submit a resolution on auction results to the NTC en banc, which will then declare the result as final.
The winner, which is eyed to break the duopoly of PLDT, Inc. and Globe Telecom, Inc., will be awarded a certificate of public convenience and necessity valid for 15 years or the length of the franchise of a bidder, whichever is shorter; and radio frequency bands of 700 megahertz (MHz), 2100 MHz, 2000 MHz, 2.5 gigahertz (GHz), 3.3 GHz and 3.5 GHz.
Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority stake in BusinessWorld through the Philippine Star Group, which it controls. — Denise A. Valdez

WTO panel rules against Thailand on compliance

THAILAND has failed to comply with a World Trade Organization (WTO) ruling against its regulations on cigarette imports, a WTO dispute panel in Geneva said on Monday.
The issue involved the first of two legal cases brought to the Geneva-based watchdog by the Philippines.
Either side can still appeal the ruling, which concerned valuation imported by Philip Morris Thailand Limited from Philip Morris subsidiaries in the Philippines and Indonesia.
The dispute stems from Manila’s 2008 complaint against Thai fiscal and customs measures affecting cigarettes from the Philippines, including customs valuation, excise tax, health tax, value added tax, retail licensing requirements and import guarantees imposed upon cigarette importers that resulted in unfair treatment of imported cigarettes.
The WTO dispute panel ruled in favor of the Philippines in late 2010.
In February 2013, however, Manila expressed concern on a lack of progress in Thailand’s compliance with rulings and recommendations of the dispute panel concerned, while Bangkok argued in June 2014 that Thailand did not have to take any further action to implement them.
The WTO’s Dispute Settlement Body (DSB) established a compliance panel — the second after the one formed in December 2016 — last May 9.
“We… conclude that Thailand has failed to implement the recommendations and rulings of the DSB to bring its measures into conformity with its obligations under the CVA (Customs Valuation Agreement) and the GATT (General Agreement on Tariffs and Trade),” read the summary report posted on the WTO Web site.
Sought for comment, Jeremy I. Gatdula, a lecturer at the University of Asia and the Pacific for international Law, said in a mobile phone message on Tuesday: “If no agreement on possible compensation is forthcoming, then the Philippines needs to start determining an effective set of retaliatory measures… that will help our local tobacco industry.” — Reuters and Janina C. Lim

Senate approves proposed general tax amnesty on 2nd reading

THE SENATE on Tuesday approved on second reading a measure that would grant a general tax amnesty, a day after a similar bill hurdled the Ways and Means committee in the House of Representatives.
Congress hopes to approve as many proposed tax reforms as possible before lawmakers succumb to campaign fever ahead of the May 2019 midterm elections.
The House itself approved on third reading last Monday as Congress resumed session a bill that would give government an even bigger share in miners’ revenues and another measure that would provide a standard framework for determining real property values for taxation purposes.
Senate Minority Leader Franklin M. Drilon on Tuesday proposed revisions to the general tax amnesty bill regarding the statements of assets, liabilities, and net worth (SALN) and automatic exchange of information. Mr. Drilon proposed for the SALN as of December 31, 2017 to be presumed correct without qualifications, as prescribed in Senate Bill No. 2059. The proposed law originally disqualified the SALN if it is 30% understated. Under the bill, the SALN and a general tax amnesty return are requirements for a person to avail a tax amnesty on all unpaid taxes up to 2017.
Mr. Drilon also called for deletion of the bill’s proposed amendments to Section 6 of the National Internal Revenue Code regarding the powers of the Bureau of Internal Revenue (BIR) Commissioner to inquire and receive information on bank deposits and other data held by financial institutions for tax purposes.
He also called for the removal of provisions that will allow automatic exchange of tax information between the BIR and foreign tax authorities pursuant to a treaty or international agreement with other countries.
Senator Juan Edgardo M. Angara, sponsor of the bill and chairman of the Senate Ways and Means committee, accepted Mr. Drilon’s amendments.
The revised House version of the bill also scrapped the provisions on automatic exchange of information when it was approved by the Ways and Means committee last Monday. According to the latest draft of the still-unnumbered House bill as of Nov. 13, a general tax amnesty return and a statement of total assets as of December 31, 2017 is required to avail the amnesty.
The general tax amnesty bill forms part of a bigger tax reform program. The proposed amnesty under Senate Bill No. 2059 covers all unpaid internal revenue taxes — estate taxes, general taxes and delinquent accounts — due up to taxable year 2017.
The Finance department estimates the tax amnesty proposal to yield up to P26 billion in additional revenues, but said its value lies in growing the country’s taxpayer base. — Camille A. Aguinaldo

Auto sales drop for ninth straight month in October

SALES of motor vehicles in the country fell annually for the ninth straight month in October, even as the latest tally was an increase from September, according to data of the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA) released on Tuesday.
Total vehicle sales dropped 9.2% to 33,150 units in October from 36,511 a year ago, though the latest tally was 6.5% more than September’s 31,116.
Vehicle Sales in the Philippines
A press statement accompanying the data release focused on the month-on-month increase, with CAMPI president Rommel R. Gutierrez attributing the rise to “market promotions and availability of new model units in line with the recently concluded 7th Philippine International Motor Show (PIMS)”.
“We remain optimistic that sales growth will be sustained in November, as we expect more sales from PIMS will be delivered this month.”
The nine straight months of year-on-year declines, however, come in the wake of the increase in automobile excise taxes that took effect in January — a month that had otherwise seen a four-percent increase from the past year — as well as amid tighter credit conditions after the central bank started raising benchmark interest rates, totalling 150 basis points so far since May.
Weighing heavily on sales in October were passenger cars, whose sales fell by 19.2% to 9,444 units from 11,686 a year ago, though roughly flat from September.
Sales of commercial vehicles slipped by 4.5% to 23,706 units from the year-ago 24,825, though 9.4% more than September’s 21,675. Asian utility vehicle sales were halved year-on-year to 3,409 vehicles from 6,858, though 16.5% more than September’s 2,926. Light truck sales dropped 10.9% to 721 from 809 a year ago, but surged by 26.3% from September’s 571 vehicles. Light commercial vehicle sales, however, grew 14.4% to 18,896 vehicles in October from 16,521 units a year ago, and grew 7.2% from 17,626 units in September.
October brought year-to-date industry sales to 294,207, 13.3% down from 339,380 in 2017’s comparable 10 months. Broken down by major components, the same comparative 10 months saw passenger car sales drop a fifth to 90,522 — making up a third of the total — and commercial vehicle sales fall by 9.9% to 203,685, accounting for 69.23%.
Year-to-date industry data show Toyota Motors Philippines Corp. topping the list as of October with 124,329 vehicles sold — accounting for 42.26% of the total — down 16.7%. In second place was Mitsubishi Motors Philippines Corp. with 56,592 units sold — accounting for 19.24% — down 5.3%. Third came Nissan Philippines, Inc. with 28,210 vehicles sold — making up 9.59% — up 44.8%. Fourth was Ford Motor Company Philippines, Inc. with 19,741 automobiles sold — making up 6.71% — down 30.9%, while Honda Cars Philippines, Inc. took fifth place with 19,482 units sold — accounting for 6.62% of the industry total — down 17.8%.

Ayala invests in renewable energy firm

By Victor V. Saulon, Sub-editor
AC ENERGY, Inc. through its international unit has invested in Singapore-based renewable energy company The Blue Circle Pte. Ltd. through a 25% ownership acquisition as well as co-investment rights in the latter’s projects.
“It’s a platform partnership. The Blue Circle, TBC, is a regional development and operations company focused on wind.”
AC Energy Chief Executive Officer Eric T. Francia told reporters on Tuesday.
AC Energy, the energy arm of diversified conglomerate Ayala Corp., and TBC are to jointly develop, construct, own and operate the latter’s pipeline of around 1,500 megawatts (MW) of wind projects across Southeast Asia, including about 700 MW in Vietnam. TBC developed and constructed one of the first wind farms in Vietnam.
Next year, the partnership plans to develop around 100 to 200 MW of wind energy projects in Vietnam out of TBC’s project pipeline in that country, he said.
AC Energy subsidiary AC Energy International Holdings Pte. Ltd. signed the deal with TBC.
“What we like about this platform and partnership is that number one, they have the capabilities and the track record for wind, and number two, they have a very good pipeline of development projects across the region,” Mr. Francia said.
He said TBC’s principal markets are Thailand and Indonesia, although it has some developmental assets in Indonesia and Cambodia, and at a lesser magnitude, in the Philippines.
“We’re gonna begin this relationship by focusing first on Vietnam because that’s where most of the action is,” Mr. Francia said, adding that the regional neighbor has an installation deadline for renewable energy projects aiming for a feed-in tariff.
He said AC Energy has set aside $100 million of equity for these projects.
Mr. Francia said funding for the projects would come from corporate debt and the funds raised from the sell down of AC Energy’s thermal assets. He also said that the company was working with several lenders to put together the loan component to fund the projects.
He placed the cost of putting up each megawatt of wind project at $1.5-$1.6 million dollars.
AC Energy previously said it had more than $1 billion of invested and committed equity in renewable and thermal energy in the Philippines and around the region. It aims to develop five gigawatts of attributable capacity and generate at least half of energy from renewables by 2025.

Resorts World Manila operator swings to profit

THE owner and operator of Resorts World Manila (RWM) swung to profitability in the third quarter of 2018, as revenues from both the gaming and non-gaming segments improved.
In a regulatory filing, Travellers International Hotel Group, Inc. (TIHGI) generated an attributable profit of P134.25 million, versus an attributable loss of P408.9 million in the same period a year ago.
Gross revenues improved to P5.93 billion, 32% higher year-on-year.
The profit loss last year was due to the casino shooting in June 2017 within the RWM complex that left 38 people dead, including the gunman. This incident prompted the closure of the property’s casino area for 27 days.
For the nine months ending September, TIHGI’s net income attributable to the parent reached P1.82 billion, versus an attributable loss of P34.13 million, while gross revenues gained 8% to P16.99 billion.
Gross gaming revenues from January to September this year climbed 7.5% to P13.8 billion. Revenues from the non-gaming segment also added 11.3% to P3.2 billion.
TIHGI said that visitors to the RWM complex averaged at 27,500 a day in the third quarter, while the average occupancy rate inside its three hotels, namely Marriott Hotel Manila, Maxims Hotel, and Holiday Inn Express Manila Newport City, was at 79%.
The company opened the fourth hotel, the Hilton Manila, inside the complex last October, which it expects would further attract customers into the area.
“We will continue to invest in the property to be able to provide thrilling and unique experiences for our customers. We are in full swing working to complete our Phase 3 development called the Grand Wing,” TIHGI President and Chief Executive Officer Kingson Sian said in a statement.
Hilton Manila is one of three international luxury hotels included in the development of the Grand Wing, the others being Sheraton Manila Hotel and Hotel Okura Manila. This will add around 940 rooms into the RWM complex, as well as new gaming, entertainment, retail spaces, and six basement parking decks.
Shares in TIHGI closed flat at P5.14 each at the stock exchange on Tuesday. — Arra B. Francia

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