Three Filipinos in Forbes Asia ‘heroes of philanthrophy’ list

November 14, 2018 | 12:01 am

THREE FILIPINO philanthropists were included in Forbes Asia’s annual Heroes of Philanthropy list.
Fila Isport Life Chairman Jose Mari “Butch” T. Albert, Santa Elena Construction & Development Corp. President and CEO Alice Galang Eduardo, and Consuelo Chito Madrigal Group of Companies President Susana Abad Santos Madrigal were recognized for supporting charities in the Philippines.
In a statement, Forbes Asia said the list aims to recognize individual philanthropists, who made donations using personal funds, not through their businesses. If the company is substantially owned by the individual, then the corporate donations are considered part of his fortune.
Forbes Asia noted that Mr. Albert, 68, donated over $110,000 to his Operation Compassion’s iRebuild efforts in 2014, and $66,000 for iFoster, which helps abandoned children.
Ms. Eduardo, 53, has made a $277,000 donation to build an isolation ward at the Philippine General Hospital in 2014, as well as a $370,000 donation to build a dormitory for patients’ families. She also gave $370,000 for a non-profit organization Tuloy Foundation for orphaned children, $185,000 to build homes for victims of Typhoon Yolanda, and $184,000 to Habitat for Humanity.
Ms. Madrigal has given $93,000 to the Catholic Ministry for the Deaf, as well as supported the establishment of a Business & Accountancy building at a state university. She also made a $18,600-a-year pledge to the Cancer Samurai Scholar Fund.
The Forbes list includes not just entrepreneurs, but also executives and a celebrity. Indian tycoon Kochouseph Chittilappilly had donated his kidney in 2011 to a sick truck driver, while Australia’s Anthony Pratt vowed to give $700 million over his lifetime to charitable causes.

OECD: ‘particularly good’ growth outlook for Philippines, Vietnam

November 14, 2018 | 12:00 am

THE Organisation for Economic Co-operation and Development (OECD) has adjusted downward its economic growth forecast for the Philippines this year and in 2019, though the economy is still expected to sustain its “good performance” over the next five years. Read the full story.

How PSEi member stocks performed — November 13, 2018

November 14, 2018 | 12:00 am

Here’s a quick glance at how PSEi stocks fared on Tuesday, November 13, 2018.

Philippine Stock Exchange’s most active stocks by value turnover — November 13, 2018

Magnolia tries to close out Barangay Ginebra

November 13, 2018 | 10:27 pm

By Michael Angelo S. Murillo
Senior Reporter
THE Magnolia Hotshots Pambansang Manok seek to complete a sweep and, in the process, dethrone the defending champions Barangay Ginebra San Miguel Kings when they collide in Game Three of their best-of-five Philippine Basketball Association Governors’ Cup semifinal series today at the Smart Araneta Coliseum.
Raced to a 2-0 series lead with their 101-97 victory in Game Two on Monday, the Hotshots placed themselves in a great position to make a second finals appearance this season and a chance to win their first title in four years.
Showing tremendous will to win especially down the stretch in its last game, Magnolia pushed Barangay Ginebra on the brink of elimination.
Import Romeo Travis had solid all-around numbers of 25 points, 12 rebounds, seven assists and three steals for Magnolia while Ian Sangalang had 17 points in the win.
Paul Lee finished with 14 points and Rome Dela Rosa had 11.
“We just showed will to win. The players responded to the challenge. But it’s not over because Ginebra is a strong team and they are capable of coming back,” said Magnolia coach Chito Victolero after.
“Winning two games is nothing. We have to win three games. We are taking it one game at a time and hopefully we get to sustain the proper mindset for Game Three,” he added.
For Barangay Ginebra, it is all must-win games from here on in the semifinals.
The Kings, who saw their coach, Tim Cone, ejected last time around for two technicals, had a chance to salvage Game Two when they came within two points, 99-97, with 24 seconds remaining.
But they could not complete the comeback as the Hotshots held tight to get the win.
Justin Brownlee led Barangay Ginebra with 31 points, 12 rebounds and seven assists.
LA Tenorio had 15 points while Greg Slaughter had 14 points and eight boards.
Interestingly, the Kings were in a 0-2 hole against the Hotshots in their 2016-17 best-of-seven Philippine Cup semifinals but came out of it triumphant by going the full route and book a place in the finals.
Game Three today between Magnolia and Barangay Ginebra is at 7 p.m.
GILAS PREPARATION
Meanwhile, preparation of PBA-supported Gilas Pilipinas for the fifth window of the FIBA World Cup Asian Qualifiers began on Monday night at the Meralco Gym in Ortigas.
In attendance were majority of the players short-listed for the 20-man pool from which the final roster for the two games set for later this month and early December will come from.
Present were Gabe Norwood, Beau Belga, Matthew Wright, Poy Erram, Jayson Castro, Troy Rosario, June Mar Fajardo, Marcio Lassiter, Arwind Santos and Alex Cabagnot as well as Gilas cadets Kai Sotto and Ricci Rivero.
Excused since their teams are still playing in the semifinals of the PBA Governors’ Cup were Messrs. Slaughter, Tenorio, Lee and Sangalang, Japeth Aguilar and Scottie Thompson. Also absent were Christian Standhardinger and Stanley Pringle.
The now-Yeng Guiao-coached Gilas team will try to fortify their push for a World Cup spot in China next year in the fifth window.
The Philippines is currently at third place in the merged Group F of the qualifiers with a 5-3 record, behind group leader Australia (7-1) and Iran (6-2).
Gilas plays Kazakhstan on Nov. 30 and Iran on Dec. 3. Both games are to be played at the Mall of Asia Arena.

San Beda underscores how deserving it is as champion

November 13, 2018 | 10:26 pm

By Michael Angelo S. Murillo
Senior Reporter
SOME may view their latest championship with reservation, believing that they had it “easy” since they battled a team that did not have a full complement in the games played in the finals. But the three-peat-winning San Beda Red Lions will have none of that argument as they underscored they are deserving champions who won the title fair and square.
Defeating the Lyceum Pirates, 71-66, in Game Two of their best-of-three National Collegiate Athletic Association Season 94 finals series on Monday at the Mall of Asia Arena, the Lions completed a sweep of the Pirates and book another title, their 22^nd overall in the country’s longest-standing collegiate league.
The victory thrust San Beda to its third three-peat and saw it shut out Lyceum in the finals for the second straight year.
In winning their third straight title, the Lions proved to be the steadier team amid the stiff challenge posted by the Pirates, who played with top man CJ Perez, back following his suspension in the series-opener after being found to have violated league rules on applying for the Philippine Basketball Association rookie draft.
Graduating Perez, Lyceum’s leading scorer and heart and soul, reportedly submitted his rookie draft application in time for the deadline set for players considered as Filipino-foreigners without informing the league.
As per NCAA rules, it is mandated that student-athletes inform the NCAA in writing of their intention to be part of a professional league prior to submitting their application.
The league found Perez in violation of that particular rule and after careful evaluation decided to suspend him a day before the series-opener set for Nov. 6.
Some parties viewed the suspension as giving the already-loaded San Beda team an “easy pass” in Game One en route to winning, 73-60, and moving a win away from the NCAA title.
For Lions coach Boyet Fernandez though, such assumptions were unfair as it was not the case and that they worked hard to deservingly get the two victories in the finals even as he said what happened to Perez and his suspension was not San Beda’s fault.
“If you would remember, we beat LPU in the second round with CJ there, and he only scored nine points. It’s not the fault of San Beda that he was suspended. Rules are rules. Lyceum should have known that the draft is coming and CJ being considered as Fil-Am was to file early than local players. They should have checked it. But they did not,” said Mr. Fernandez in the post-game press conference following their title conquest.
“Again it’s not the fault of San Beda. We never participated in the deliberation and the voting on the suspension. But you have to give credit to my players. My players played well in the series. Don’t take that away from them. If you lose one player, somebody has to step up. They did not play well in Game One and it’s not our fault. But I give credit to them for coming back in Game One from 27 points down. But give my players credit. They continued to show they deserve to be champions in this game,” he added.
Mr. Fernandez, nonetheless, acknowledged the good season that Lyceum once again had and gave props to Pirates coach Topex Robinson and the program they have built.

Paul Desiderio out to finish roller-coaster UAAP ride on a high

November 13, 2018 | 10:25 pm

WITH the University Athletic Association of the Philippines Season 81 eliminations in its final stretch, the University of the Philippines Fighting Maroons are keeping their fingers crossed about finally booking a Final Four seat this year. It has been an elusive semifinal slot for the Diliman-based team since the Paolo Mendoza-led squads of 1996 and 1997 last booked it.
“The last time UP made the Final Four was 21 years ago. I was just born then. If we make it to the semifinals we will make history. We have been working hard for this and we’re hoping to get a spot,” said UP Fighting Maroons team captain Paul Desiderio.
Playing his final UAAP season, the 6’0 shooting guard from Liloan, Cebu, has had his fair share of ups and downs while having “Unibersidad ng Pilipinas” inscribed on his jersey.
He was part of the 0-14 UP team in 2013, his rookie year, before missing UAAP Season 77. He was back in 2015 and won three out of 14 games.
Desiderio was part of the UP team that had three different coaches in three seasons before Coach Bo Perasol took over in 2016.
In Season 80, the UP team captain was clutch, leading the team in scoring while providing golden moments by draining two heroic ‘Atin ‘to’ three-pointers.
The Maroons though fell short in their Final Four quest with a 6-8 record.
Showing much improvement last season, UP supporters were hopeful in UAAP Season 81.
But after opening the current UAAP season with a huge win against the University of East Red Warriors, the Maroons’ resurgence tapered off.
They ended the first round of the eliminations with three wins and four losses, far from what they envisioned to have this year.
With UP sporting a 3-5 slate early in the second round, Desiderio was seen wearing a black shirt with “16 STRONG” written on the back. UP won that game against UE and snapped a two-game losing skid. They did it with a total team effort, working as 16 Strong.
“As their team captain, I let my teammates be themselves off the court but on the court I’m strict. I want everybody on the same page, ‘16 Strong,’” said Desiderio of the relationship he has with his teammates.
“Actually, ‘16 Strong’ started in training. Before the season started we were not sure if David [Murrell] will be able to play because of injuries. We prayed that everybody was healthy and able to play so we will be 16 Strong,” he added.
Desiderio went on to say that he is very proud of wearing the Maroon and White and thankful of the confidence and trust the school has given him.
“I’m proud to carry the school color. I appreciate what they have given me since I stepped on UP. Coach Ricky [Dandan] was the coach in 2013 and he personally went to UV (University of Visayas) to get me and play for the Maroons,” said Mr. Desiderio, who made a name for himself while at UV and was part of the youth national team which saw action at the 2013 FIBA Asia U-16 Championship.
Having seen the UP program take root and grow during his tenure with the team, Desiderio said he wants nothing more but to gift the Maroons a winning finish on his final year with at least a Final Four appearance.
“Jett [Manuel] started the winning culture for the team. He played his last collegiate playing year with us. That’s the same legacy that I want to leave the team, a winning attitude,” said Desiderio, referring to former UP captain Manuel who now plays in the Philippine Basketball Association with the Barangay Ginebra San Miguel Kings.
Desiderio and the Maroons return to action today against the De La Salle University Green Archers in an important match that has a lot of playoff implications. The game is set for 4 p.m. at the Mall of Asia Arena in Pasay City
Playing in the 2 p.m. opening game are the league-leading Ateneo Blue Eagles versus the already-eliminated University of Santo Tomas Growling Tigers. — Myrhen Inovejas Jamo

Philippine Azkals open Suzuki Cup bid with 1-0 win over Singapore

November 13, 2018 | 10:24 pm

By Michael Angelo S. Murillo
Senior Reporter
THE 2018 AFF Suzuki Cup campaign of the Philippine men’s national football team got off to a winning start with a 1-0 victory over Singapore in its tournament opener on Tuesday night at the Panaad Park and Football Stadium in Bacolod City.
Playing under new coach Sven-Goran Eriksson, the Azkals did not disappoint in their tournament debut as they showed a spirited fight, punctuated by a 78th-minute goal from Patrick Reichelt that turned out to be the marginal goal.
The match was tightly fought in the opening half with both teams having their chances but could not consummate them, resulting in a nil-nil score at the break.
In the second half, the Azkals came out more aggressive, taking the fight to Singapore and in the process found themselves in solid scoring opportunities.
Their effort eventually paid dividends in the 78th minute when Mr. Reichelt converted a pass from captain Phil Younghusband, going through traffic and puncturing the goal, sending the hometown crowd to celebration.
Singapore tried to get back the goal for the remainder of regulation and in the added five minutes and had its chances, but the Philippine defense would hold its own to preserve the win and earn the three points that go with it.
“We got the three points but it was not an easy game. Singapore has very good players and they played very direct. It’s very difficult to play against them but I think we had a very good game technically and we had good fighting spirit and I’m very happy for the whole country and our team,” said Mr. Eriksson after their win.
For game hero Reichelt, the win was a good start for them and he was very happy to have scored what turned out to be the winning goal.
“We had problems in the beginning but it was awesome to play at home here in Panaad and for me to score a goal was very fulfilling and it’s a good start for us in the Suzuki Cup,” the Ceres-Negros player said.
Next for the Azkals is a meeting with Timor-Liste on Nov. 17 in Malaysia.

Suppliers refuse to meet NFA price as rice auction fails again

November 13, 2018 | 9:37 pm

THE National Food Authority (NFA) said it rejected the bids of Thailand and Vietnam in the second government-to-government (G2G) auction for 203,000 metric tons (MT) of long grain rice at the 25% broken grade, with bids much higher than the $447.88 per MT reference price.
On Tuesday morning, Thailand initially offered $480.50 per MT for 100,000 MT, while Vietnam offered $483 per MT for 203,000 MT of rice.
The initial offers were rejected, as were second offers by Thailand at the same price and Vietnam at $481.50 per MT.
The 203,000 MT represents the unawarded portion of an initial volume of 250,000 MT bid out in October. The NFA was authorized by its governing NFA Council to import 750,000 MT this year, divided into three equal shipments of 250,000.
The initial volume of 250,000 MT was originally intended to arrive by the end of the year as a means of relieving pressure on food prices and potentially easing the impact of inflation. The refusal of suppliers to meet the NFA price indicates that the G2G sourcing route is failing to provide the volumes needed to stabilize the market, which was disrupted in 2018 when the NFA allowed the depletion of its inventories, which poor consumers and calamity zones rely on.
NFA Administrative Assistant and chairwoman of the agency’s committee on government-to-government (G2G) procurement Maria Mercedes G. Yacapin told reporters: “We want to evaluate (the auction result) and report to the council for necessary direction.”
According to Ms. Yacapin, the reference price set of the NFA is based on the agency’s study of world prices.
“This is based on our study on the trends of the international market. We do our own world market monitoring of prices,” Ms. Yacapin said.
Asked about adjustments to the delivery period of the rice which was originally set for Dec. 15, Ms. Yacapin said: “We will know later, because when we review, we just do not review one thing. We review everything — the price, the delivery schedule.”
Meanwhile, an open tender for the remaining 500,000 MT of rice is scheduled for Nov. 20. — Reicelene Joy N. Ignacio

Maternity bill bicam process stalled by improper insertions

November 13, 2018 | 9:36 pm

THE House of Representatives and the Senate on Monday reconvened their bicameral conference committee session on the expanded maternity leave bill following the discovery of improperly inserted tax exemption and appropriations provisions.
Senate Majority Leader Juan Miguel F. Zubiri said some provisions were inserted during the bicameral conference committee, which the Department of Finance (DoF) and the Department of Budget and Management (DBM) objected to.
“During the bicam, there was a provision inserted that added appropriations and tax exemptions which was objected to by the DoF and DBM. Those were not approved by both chambers in plenary,” he told reporters in a mobile phone message, without providing details.
In a statement, Senator Risa N. Hontiveros-Baraquel, who chairs the Senate committee on women, children, family relations and gender equality, said the bicameral conference committee will take into consideration the comments of the DoF regarding the proposed measure.
“We will review the law once again so that we truly ensure its quality before we transmit it to the Executive branch,” she said.
The bill passed the bicameral conference committee in October with both the House and Senate panels agreeing to 105 days of leave for qualified workers. An additional 15 days of leave credit was also be given to solo parents.
“The Department of Finance wanted the bill to be clear that there will be no appropriation measure because it only provides the ceiling of SSS (Social Security System) for maternity benefit at P16,000 for women earning minimum wage and below,” Ms. Baraquel told reporters.
“The advocates have allowed us to consider the concerns the Department of Finance that is not really the heart and soul of the bill,” she added.
She expressed confidence that the bill will be signed into law by the end of the year. — Camille A. Aguinaldo

Alaska levels semifinal series with Meralco

November 13, 2018 | 9:33 pm

By Michael Angelo S. Murillo
Senior Reporter
THE best-of-five Philippine Basketball Association Governors’ Cup semifinal series between the Alaska Aces and Meralco Bolts has been reduced to a race-to-two wins after the former levelled the series with a 100-95 victory in Game Two on Tuesday at the Mall of Asia Arena.
Ended on the raw side in the series-opener two days prior, the Aces made sure not to get buried deeper with a steady showing throughout the contest notwithstanding the determination showed by the Bolts to get the win and take a commanding series lead.
Import Mike Harris led the Aces in the win with 37 points and 19 rebounds with Simon Enciso adding 23 points.
Chris Banchero had a near triple-double of 13 points, 11 rebounds and eight assists.
For Meralco it was import Allen Durham who showed the way with 24 points, 12 assists and nine rebounds,
Nico Salva had 20 points while Baser Amer finished with 14.
The contest was tightly fought right from the start with Alaska just managing to post a two-point lead, 23-21, at the end of the first quarter.
The nip-and-tuck affair continued to begin the second quarter as the two teams went back-and-forth.
Guard Enciso though would wax hot late in the frame to help Alaska to a 47-40 advantage by the halftime break.
Alaska showed no letup on both ends of the court to begin the third canto, extending their lead to 15 points, 59-44, in the first four minutes.
It was a leverage the Aces would use to create further distance, with their lead ballooning to 20 points, 66-46, by the 4:31 mark.
Mr. Salva kept Meralco in the game after as they narrowed their deficit to just 13 points, 70-57, inside the last two minutes of the quarter.
The Aces eventually regained their bearing and ended the frame with a 74-60 advantage.
Meralco began the fourth canto looking to gain more headway in its comeback bid.
Mr. Durham and Reynel Hugnatan would push the Bolts to within eight points, 80-72, with 6:36 to go.
The Bolts kept coming back after and put the pressure on the Aces.
A breakaway lay-up by Mr. Durham with 50 seconds left pushed them to just two points away, 92-90.
Import Mike Harris though drained a jumper with 34 seconds left to give the Aces more breathing space only to be answered back by Mr. Durham 11 seconds later to push the count to 94-92.
Meralco chose to foul with 18 ticks remaining but JVee Casio was steady on the line to make it 96-92 for the Aces.
Chris Newsome hit a triple with 14 seconds left to make it a one-point ball game, 96-95.
Meralco once again fouled Mr. Casio who continued to make his free throws to give the Aces a 98-95 lead with seven seconds to go.
The Bolts had a chance to tie the contest but a triple attempt by Mr. Amer failed to connect and Alaska held on for the victory.
“That’s basketball and they are a great team. We expect nothing less from them and we had to match up with them,” said Mr. Harris of the near comeback of the Bolts.
Game Three of the series is on Thursday at the Cuneta Astrodome.

37th PCA Open tennis tourney

November 13, 2018 | 9:32 pm

ALL the best tennis players in the country will see action once again in the 37^th edition of the PCA Open that will be held from Nov. 16 to Dec. 9. Considered as the most prestigious tournament in the local tennis calendar, this Group 1 level event will be held at the Philippine Columbian Association Tennis Courts in Plaza Dilao, Paco, Manila.
Expected to defend his crown in the Mens’ Open event is defending Champion Bryan Otico. Last year’s runner-up and two-time champion John Patrick Tierro and the legendary 8-time champion Johnny Arcilla are among the favorites this year to wrest the crown. Others expected to participate are reigning RP’s top-ranked player Francis Casey Alcantara, no. 2 Jeson Patrombon, and no. 3 and 2015 champion Alberto Lim.
Reigning Ladies’ Open and five-time champion Marian Jade Capadocia will be tested once again as she faces the likes of last year’s runner-up and two-time champ Clarice Patrimonio and doubles specialists veteran Bambi Zoleta and Akiko de Guzman.
Events this year will be the Men’s and Ladies Open Singles and doubles (Qualifying Nov. 26-29: Main Draw Nov.30-Dec 9); Juniors 10-under and 12-under (Nov. 16-18) ; Juniors 14-,16-,18-under (Nov 23-26), and the Seniors Doubles Mens 40-above and 55-above and Senior Women’s Doubles 40-above and 55-above.
This Group 1 event is supported by PHILTA, Dunlop (official ball), Longmarch Roadlux, HEAD, Mary Grace, Stronghold Insurance, Coca-Cola, Mr. Freeze and the Members and Directors of PCA.
Participants may register thru text to Tournament Referee IlynHupano at 0917-794-1354 or via email to philippineten@yahoo.com.ph, or register at Philippine Columbian telephone no. 563-8501 local 116 and look for Chris Cometa. Deadline of Entries for the Open and Juniors is Nov. 10, while the Senior doubles will be on Nov. 20.

Government revenue, spending at record levels as collections surge

November 13, 2018 | 9:29 pm

THE GOVERNMENT’S fiscal deficit was right at the 3% target set for it in the first nine months of the year with revenue and expenditure as a share of the economy hitting fresh highs, the Department of Finance (DoF) said on Tuesday.
In an economic bulletin issued by the DoF chief economist, Undersecretary Gil S. Beltran, the national government deficit was 3% of gross domestic product during the period, off a revenue effort of 16.9% of GDP, up from 15.9% a year earlier.
The revenue effort target for 2018 is 16.1%.
The DoF said the 16.9% result was “the highest ever achieved for the first three quarters of the year.”
The rise in revenue as a share of the economy was attributed to the Tax Reform for Acceleration and Inclusion (TRAIN) law, or Republic Act No. 10963, which came in effect in January.
“Fiscal space expanded by TRAIN 1 and tax administration (reforms) enabled government to boost investment and growth in the first semester,” Mr. Beltran said in the bulletin.
Tax effort grew to 15.2% in the nine months to September, from 14.5% a year earlier.
The Bureau of Internal Revenue’s collections as a share of GDP rose to 11.6% from 11.5%, while the Bureau of Customs’ tax effort expanded to 3.5% from 2.9%. Other agencies’ take relative to economy meanwhile was unchanged at 0.1%.
The non-tax revenue effort rose to 1.7% from 1.4% a year earlier.
Expenditure effort meanwhile rose to 20%, from 17.8% a year earlier, which is “the highest three-quarter expenditure effort, thus boosting its contribution to GDP growth.”
It was also ahead of the pace on the 19.1% expenditures-to-GDP target for 2018.
The DoF said increased spending effort was due to national government capital outlays, which expanded by 42.6% year-on-year during the nine months.
“Strong macroeconomic fundamentals backed by tax reforms and the ‘Build, Build,Build’ program will continue to boost economic growth as the competitiveness of the economy rises and more jobs are created,” the DoF said. — Elijah Joseph C. Tubayan