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Remittance payments hit record in 2017

PAYMENTS from immigrants back to their home countries rebounded to reach a new record in 2017 but the costs of transferring funds also increased, the World Bank said Monday.
The stronger-than-expected recovery in remittances — payments that are key to supporting the economies of many poor countries — was driven by growth in Europe, Russia and the United States, the World Bank said in a report.
The bank estimates that officially recorded remittances to low- and middle-income countries reached $466 billion in 2017, an increase of 8.5% over $429 billion in 2016. They are expected to increase by about 4% this year.
Remittance inflows improved in all regions and the top remittance recipients were India with $69 billion, followed by China ($64 billion), the Philippines ($33 billion), Mexico ($31 billion), Nigeria ($22 billion), and Egypt ($20 billion).
The global average cost of sending $200 was 7.1% in the first quarter of 2018, and sub-Saharan Africa remains the most expensive place to send money to, where the average cost is 9.4%.
“While remittances are growing, countries, institutions, and development agencies must continue to chip away at high costs of remitting so that families receive more of the money,” said Dilip Ratha, lead author of the report.
The bank calls on countries to take steps to simplify the process to reduce the costs, including “introducing more efficient technology.”
By region, Europe and Central Asia saw the biggest growth last year, jumping 21%, while Sub-Saharan Africa rose 11%.
East Asia and the Pacific saw the biggest inflows of $130 billion, as South Asia received $117 billion, followed by Latin America with $80 billion. — AFP

The 25% surcharge for amended tax returns

Recently, the Bureau of Internal Revenue issued Revenue Memorandum Circular (RMC) No. 21-2018. It circularizes the imposition of 25% surcharge, in addition to the 20% interest (now 12% under the TRAIN Law) and compromise penalty, on amended returns when additional taxes are payable.
The BIR noted that there are Revenue District Offices (RDOs) that impose the 25% surcharge on amended returns, while other RDOs do not impose such surcharge. The inconsistencies in the practices of RDOs are causing confusion among the taxpayers.
In resolving the confusion, the BIR ruled that amendments to returns involving additional tax payments shall be subject to the 25% surcharge in addition to the 20% interest and compromise penalties.
BIR anchored the RMC on Section 248 of the National Internal Revenue Code (NIRC) which imposes civil penalties. According to the BIR, it is clear that the interest of 20% and penalty equivalent to 25% of the amount due shall be imposed in case of failure to file any return and pay the tax due thereon on the date prescribed; or failure to pay the full or part of the amount of tax shown on any return as required under the provisions of the NIRC or rules and regulations.
Thus, in an amendment of return where an additional tax is due per amended return, 20% interest and 25% penalty shall be imposed based on the additional tax to be paid per amended return.
There may be various reasons where a taxpayer may be constrained to file an amended return. One of the valid reasons would be adjusting and/or correcting entries in the books made after filing of the tax return or discovered after the annual statutory audit of the financial statements. These represent additional information which call for legitimate and valid changes in the books to reflect the correct tax reporting for the transactions.
The taxpayer should consider the impact of these adjustments particularly if there is a need to amend a return. The intention of the taxpayer is primarily to correct the amount reflected in the previous return to tally with the amount per books and remit the correct tax due to the government.
In this instance, the failure to report the correct tax payable in the original tax return was not done with the intention of manipulating the tax payable. However, it will be an expensive experience if the tax return will require an additional tax payable.
Given the strict imposition of the 25% surcharge by the BIR, the taxpayer must be careful in preparing his tax returns and ensure that all information is correct before filing. Hence, the taxpayer must perform extra diligence to ensure that the amounts being reported in the tax returns are accurate. Otherwise, they will be subject to the unnecessary cost of 25% surcharge.
The BIR’s imposition of the 25% surcharge on every amended tax returns which would require additional tax payment may discourage taxpayers from correcting their tax returns.
Due to the significant surcharge, there is a possibility that the taxpayer will take the risk and wait for the additional taxes to be discovered during BIR audits.
In view of the expensive repercussions of amending a tax return, the taxpayer need to be careful and prudent in preparing his tax returns. Any mistake is definitely costly, requiring the payment of interest, compromise penalty and 25% surcharge.
 
Richard R. I barra is a manager of the Tax Advisory and Compliance of P&A Grant Thornton. P&A Grant Thornton is one of the leading audit, tax, advisory, and outsourcing services firms in the Philippines.

New son for Britain’s Prince William and Kate

London — Kate, the wife of Prince William, gave birth to a baby son on Monday, the couple’s third child who is fifth in line to the British throne.
The boy, weighing eight pounds and seven ounces (3.8 kilogrammes), was born at 11:01am (1001 GMT), Kensington Palace announced.
Mother and baby are both doing well, the palace said, and William, the Duke of Cambridge, was present for the birth.
The baby is the couple’s third child, after Prince George and Princess Charlotte.
Queen Elizabeth II, William’s father Prince Charles, and his brother Prince Harry were said to be delighted with the news.
“Her Royal Highness The Duchess of Cambridge was safely delivered of a son at 11:01 hours,” the palace announced in its brief statement.
Kate, 36, was admitted early Monday to the private Lindo Wing of St. Mary’s Hospital in central London, where four-year-old George, and Charlotte, aged two, were born.
Royal fanatics, who had been camped outside the hospital wing for several days in anticipation, jumped for joy and popped open champagne.
“We’re going to celebrate with fish and chips!” said John Loughrey, who was wearing a Union Jack hat and clutching a plastic doll with a crown.
Maria Scott, 46, a housewife from Newcastle in northeast England, has been in place for 15 days.
“It’s really important to show support because they need to know how much they are loved by the people,” she told AFP.
“We’re very proud of our monarchy.”
Tony Appleton, a town-crier dressed in a flamboyant red uniform, announced the news from the steps of the hospital’s Lindo Wing to a crowd of supporters and media.
The baby was born on St. George’s Day, England’s national day.
Name speculation
The baby boy is a sixth great-grandchild for Queen Elizabeth, who turned 92 on Saturday, and her husband Prince Philip.
It will hold the title of prince after Queen Elizabeth changed the rules in 2012 to ensure that all of William’s children would be entitled to the style, not just his eldest son.
As with their two previous children, the royal couple did not know whether the baby was going to be a boy or a girl.
Bookmakers have Arthur, Albert, Frederick, James and Philip as their favourites for the young prince’s name.
The boy does not overtake Charlotte in the line of succession due to new laws agreed across the 16 Commonwealth realms where Queen Elizabeth is the head of state, including Canada, Australia and New Zealand.
Under the law, designed to end male primogeniture for William’s children, boys born after October 28, 2011 cannot overtake their elder sisters.
A night at the Lindo Wing costs £7,500 ($10,500, 8,550 euros), including a delivery package and two-room suite, excluding consultants’ fees.
The birth was overseen by consultant obstetrician Guy Thorpe-Beeston, who is the surgeon gynaecologist to the royal household, and consultant gynaecologist Alan Farthing, the Queen’s surgeon-gynaecologist.
They were part of the trusted team who also delivered George and Charlotte.
The duchess suffered severe morning sickness during all three pregnancies.
Gun salutes planned
William, who is destined to become king after Charles, and Kate met at St. Andrews University in Scotland.
They tied the knot at Westminster Abbey in London on April 29, 2011, in a ceremony watched by up to two billion people worldwide. The marriage helped breathe new life into Britain’s monarchy after years of crisis.
The Sun newspaper reported Sunday that Kate’s sister Pippa Middleton, 34, is pregnant with her first child.
Kate’s maid of honour famously stole the show at her and William’s wedding with a figure-hugging dress.
The birth will be celebrated with a 41-gun salute in London’s Green Park Hyde Park — the standard 21 rounds with an extra 20 because they are royal parks.
The Tower of London will fire 62 rounds: 21, plus 20 because it is a royal palace, and a further 21 to show the City of London’s loyalty to the sovereign. — AFP

Peso sinks to one-month low vs dollar

By Melissa Luz T. Lopez, Senior Reporter
THE PESO plunged to a one-month low Monday, Apr. 23 as the dollar gained strength, propped up by rising bond yields in the United States and easing tensions over a trade war with China.
The local unit closed at P52.24 versus the greenback on Monday, 14.5 centavos weaker than Friday’s P52.095 finish. This is the peso’s weakest showing since closing at P52.32 exchange rate on March 27.
The peso traded generally weaker throughout the session as it opened at P52.13 versus against the dollar. It touched P52.12 as its strongest point but also hit a peak of P52.26 before settling at the closing rate.
Sought for comment, two traders said the peso mirrored a depreciation trend seen with other Asian currencies compared to the dollar, fuelled by positive developments in the US.
“The peso dipped strongly [Monday, Apr. 23] due to recent rise in US yields and on news of possible visit to China by US Finance Secretary (Steven) Mnuchin to discuss trade concerns between China and the US,” one trader said via e-mail.
Reuters reported that most emerging Asian currencies slipped during trading as yields for the 10-year US Treasury bonds soared to a four-year high and provided support to the greenback. Most currencies weakened versus the dollar except the Chinese yuan, while the peso remained the worst-performing unit so far this year.
Meanwhile, US Treasury Secretary Steven Mnuchin’s announcement that he may visit Beijing to discuss trade practices, a move seen to allay fears over a looming trade war between the world’s biggest economies.
Concerns over the trade war continued to feed into market sentiment, with latest developments turning out in favor of the greenback.
A second trader pointed out a “stronger appetite” to trade currencies on Monday. Dollars traded amounted to $757.2 million Monday, Apr. 23, double the $329.5 million which exchanged hands last Friday.
“The market likely took positions ahead of US GDP (gross domestic product) data,” the trader said, noting that the peso is likely to weaken further over the coming days.
The US is due to report initial data on first-quarter economic growth, a key indicator which could dictate the pace and timing of future rate hikes from the Federal Reserve. This, in turn, will influence global yields.
Both currency traders expect the local currency to drop versus the dollar anew. The first trader sees the peso trading within P52.10 to P52.35, while the other expects currency movements to log within the P52.15-P52.35 range.

Stocks edge down as investors look for fresh leads

LOCAL EQUITIES barely moved on Monday as investors chose to stay on the sidelines due to a lack of leads.
The 30-member Philippine Stock Exchange index (PSEi) ended 7.25 points lower or 0.09% to 7,719.47 Monday, Apr. 23. The broader all-shares index also fell 0.21% or 10.20 points to 4,677.09.
“Philippine markets began on a quiet note as the market traded almost unchanged while value turnover was nearly half of the average. There were no major economic data releases last Friday, giving minimal guidance to the direction for investors,” Regina Capital Development Corp. Managing Director Luis A. Limlingan said.
“The market traded sideways for the majority of the day after some initial strength in the morning. This may have been due to some optimism following Friday’s green session… Investors may be waiting for the market’s next move as some only stood on the sidelines Tuesday, Apr. 24,” Papa Securities Corp. trader Gabriel F. Perez said in an e-mail.
All sectoral indices moved to negative territory, led by the mining and oil sector which dropped 1.4% or 149.65 points to 10,532.72. Services went down 0.32% or 5.10 points to 1,564.14, while holding firms gave up 0.24% or 18.99 points to 7,631.93.
Property dipped 0.10% or 3.67 points to 3,587.69; financials slipped 0.07% or 1.57 points to 1,993.32; while industrials closed 0.07% or 7.74 points lower to 11,076.60.
Some 1.04 billion issues switched hands, resulting to a value turnover of P5.48 billion, lower than Friday’s P6.72-billion turnover.
Decliners trumped advancers, 103 to 88, while 57 issues were unchanged.
Foreign investors remained sellers, with net foreign outflows recorded at P308.20 million, slightly lower than the P381.15 million posted last Friday.
Twelve of the top 20 most actively traded stocks declined, with BDO Unibank, Inc. losing 2.31% to P130.90 each; Metro Pacific Investments Corp. went down by 3.45% to P4.48; while Megawide Construction Corp. decreased 3.35% to P23.05 apiece.
Ayala-led Prime Orion Philippines, Inc. was among the top gainers for the day, advancing 5.26% to P3.60 each. Other gainers were Metropolitan Bank & Trust Co., which added 1.99% to P84.55 each, and Bank of the Philippine Islands which rose 1.89% to P108 each.
US markets also ended lower last Friday. The Dow Jones Industrial Average gave up 0.82% or 201.95 points to close at 24,462.94. The Nasdaq Composite index plunged 1.27% or 91.93 points to 7,146.13, while the S&P 500 index also dropped 0.85% or 22.99 points to 2,670.14.
Performances of Asian indices were mixed on Monday, following the lower finishes of its global counterparts. Fears of rising interest rates also weighed down the region, with yields on 10-year US treasury notes rose to 2.9789%, its highest in four years. — Arra B. Francia

Lady Tamaraws answering the knock of opportunity

By Michael Angelo S. Murillo
Senior Reporter
THE most successful team in University Athletic Association of the Philippines (UAAP) women’s volleyball, the Far Eastern University (FEU) Lady Tamaraws have found it tough to get much championship success in recent years. So when the opportunity came to make something special this season, they did not hesitate to answer.
After nearly decade of not being in the UAAP finals, the Morayta-based Lady Tamaraws are back in it following one of their better runs of late in the tournament.
Under the helm of coach George Pascua, who took over in the offseason, the FEU women’s volleyball team is in a spot where it has not been in a while and looking solid to go even further.
The Lady Tamaraws wound up with the second best record after the elimination round at 10-4 and in the process earned a twice-to-beat advantage in the Final Four.
It was a situation they capitalized on as the Lady Tamaraws used it to the hilt in eliminating long-time tormentors Ateneo Lady Eagles, finding no need to use the incentive as they went for the jugular at the first instance, winning in four sets, 25-20, 25-21, 14-25, 25-19, on April 21.
The win allowed FEU to book that long-sought return seat to the UAAP finals.
“I just told the girls that the opportunity is knocking on the door and we have to answer it to achieve what we have set out to do,” said Mr. Pascua as he spoke of how they approached things when they saw chances for them were forming during the course of their campaign heading into the finals.
“We had a lot of adjustments, including myself as coach as coaching the women’s team presents a whole new challenge. But we managed to do that as a team, And I’m very happy we are now back in the finals,” said the coach, who has won titles in the men’s tournament, following their Season 80 semifinal triumph.
For stalwart Chin-Chin Basas, their finals return was also a product of a lot of sacrifices from the team.
“As a team we sacrificed a lot in training. Coach George really pushed us. He really brought out the best in us and what we are capable of doing,” said Basas, who led FEU, along with veteran Bernadeth Pons, with 17 points in their Final Four win over Ateneo.
But while they are happy to be back on the big stage, both Mr. Pascua and Basas said the work is not over for them and a bigger challenge lies ahead.
“We will enjoy this for a while but we will immediately go to work after because the finals is a whole new ball game,” said Mr. Pascua, whose wards will face off with the defending champions De La Salle Lady Spikers in the best-of-three finals beginning on Saturday, April 28.
“The finals will be a tough one but we will continue training hard and preparing so we will be at our best in the series,” said Basas.
In two elimination round games this season, La Salle had the number of FEU, winning both times but not after being made to sweat with both matches going five sets.

Bucks edge Celtics to level series, 2-2; Spurs stun Warriors

WASHINGTON — Greek star forward Giannis Antetokounmpo scored 27 points, including the decisive tip-in with five seconds remaining, to give the Milwaukee Bucks a 104-102 NBA playoff victory Sunday over Boston.
The triumph pulled the Bucks level with the Celtics at 2-2 in their best-of-seven first round series, which continues Tuesday in Boston.
Malcolm Brogdon’s three-pointer gave the Bucks a 102-100 lead before Boston’s Al Horford made two free throws to equalize. Brogdon then missed a jumper but Antetokounmpo followed with a tip-in and the Bucks denied the Celtics in the final seconds.
“This win is incredible,” Antetokounmpo said. “We kept our composure and fought all the way to the end.”
Khris Middleton added 23 points while Jabari Parker had 16 off the bench for Milwaukee.
Jaylen Brown led Boston with 34 points.
Defending NBA champions Golden State failed to complete a sweep of the San Antonio Spurs, with Manu Ginobili coming off the bench to score 10 of his 16 points in the fourth quarter to spark the hosts over the Warriors, 103-90.
“Our defense was more aggressive than the previous games. Our aggressiveness was off the charts,” Ginobili said.
“We need to help each other. Today we did that.
“We moved the ball. We made some shots that helped, but it was about teamwork.”
LaMarcus Aldridge had 22 points and 10 rebounds for the Spurs, who led from start to finish to trim Golden State’s lead in their Western Conference series to 3-1.
The Warriors, who were led by Kevin Durant’s 34 points and 13 rebounds, can advance to a second-round series against New Orleans with a game-five home victory on Tuesday.
The Spurs remained without coach Gregg Popovich, who missed his second game following the death of his wife, which has left the team heartbroken as well.
“It’s a tough time. We’ve never been through this type of adversity,” said Ginobili. “Our leader is struggling. We’re trying to push through it like he would do if he weren’t at home.”
In Indiana, LeBron James and the Cleveland Cavaliers rebounded from a game three loss to even their series at 2-2 with a 104-100 victory over the Indiana Pacers.
James finished with 32 points, 13 rebounds and seven assists and Kyle Korver scored 18 points for the Cavaliers in the win.
Game five is Wednesday in Cleveland.
Elsewhere, Bradley Beal scored 31 points, while John Wall had 27, and the Washington Wizards beat Toronto 106-98 to level their Eastern Conference series at two games apiece.
BOGUT TO RETURN TO PLAY IN AUSTRALIA
NBA championship-winning center Andrew Bogut has confirmed he will return to Australia to play for the Sydney Kings, who said Monday they are submitting “appropriate paperwork” to the NBL head office.
Bogut, 33, has confirmed the move on social media, but the Kings tweeted they had “submitted to NBL (National Basketball League) head office appropriate paperwork for @andrewbogut for review and processing”.
The NBL in turn said in a tweet: “The NBL has received paperwork from the @SydneyKings for Andrew Bogut. We are following the Standard Player Contract process as we do for all players.”
Last month, Bogut announced he would not return to the NBA for the remainder of the 2017-2018 season as he wanted to stay in Australia with his pregnant wife. — AFP

Bulldogs ready for grind to get back UAAP title

By Michael Angelo S. Murillo
Senior Reporter
FOR the sixth straight year the National University (NU) Bulldogs are back in the finals of the University Athletic Association of the Philippines (UAAP) men’s volleyball tournament and expressed readiness to compete albeit expecting it to be no walk in the park.
Following their three-set win over the University of Santo Tomas Tiger Spikers, 25-13, 25-13 and 31-29, in their Final Four match on Sunday, the Bulldogs are back on the championship stage, putting themselves in position to win the title, something they have not done since UAAP Season 76.
They are now awaiting the winner of the do-or-die Final Four match between three-time defending champions Ateneo Blue Spikers and Far Eastern University (FEU) Tamaraws tomorrow.
Back in the finals once again, NU coach Dante Alinsunurin underscored that it is a direct result of the tremendous support that the team has been getting from various stakeholders.
“Where we at right now is a product of the support we have been getting from the school, the managers and the parents of the players. Without them, this sixth straight finals appearance for us would not be possible,” said the coach, whose wards finished the elimination round with a 12-2 record, tied with FEU.
“But we are not done yet. We will continue to work hard to bring back the title to NU,” added Mr. Alinsunurin, who is steering the team in trying to end the stranglehold of Ateneo on the title.
Asked who they prefer to face in the finals, Ateneo or FEU, the NU coach said they do not have any preference as either way they would be up against good teams that should only make things tough for them.
“We have no preference who we will face in the finals. We will just do our best whoever we face,” said Mr. Alinsunurin, adding, “Key for us is to continue playing as team.”

PSL Grand Prix semifinal round begins

COMPETITION in the Philippine Superliga (PSL) Grand Prix hits a new phase beginning today as the semifinal round commences with a pair of best-of-three series.
Kicking off at the FilOil Flying V Centre in San Juan City, the now-reduced field of combatants will see top seeds and defending champions F2 Logistics Cargo Movers against the fourth seeds Foton Tornadoes featured in one semifinal pairing while the number two team Petron Blaze Spikers battle third seeds Cocolife Asset Managers in the other.
F2 Logistics, which will battle Foton in the 6 p.m. main game today, finished the elimination round with a 9-1 record before eliminating the Smart Prepaid Giga Hitters in the quarterfinals at the first instance, seeing no need to use its twice-to-beat advantage given to the top four teams.
Leading the charge for the Cargo Movers are imports Kennedy Bryan, MJ Perez and Minami Yoshioka.
F2 Logistics will also be banking on its local crew, bannered by Ara Galang, Kim Fajardo, Abi Maraño and Cha Cruz.
Looking to dethrone the Cargo Movers are the Tornadoes, who had a rough elimination round en route to finishing with a 5-5 record.
Foton ousted the Sta. Lucia Lady Realtors in the quarterfinals and is eyeing to build on it and go deeper in the tournament.
The Tornadoes have Dindin Manabat, CJ Rosario, Maika Ortiz, Gyselle Sy and imports Elizabeth Wendel and Channon Thompson now backstopped by collegiate stars Tots Carlos and Isa Molde. Jaja Santiago, too, is set to join the team after her National University team was booted out in the University Athletic Association of the Philippines wars.
“We should want it more than them. F2 Logistics is very strong and disciplined team. But of course, it still has some lapses. And we should be ready to pounce on those lapses,” said Foton coach Rommel Abella of the kind of mind-set they should have in the semifinals against the Cargo Movers.
PETRON VS COCOLIFE
While it, too, finished with a 9-1 card at the end of the elimination round, Petron was relegated to number two in the seedings. But it has hardly mattered as the Blaze Spikers continue to be on top of their game.
Led by imports Lindsay Stalzer, Hillary Hurley and Yuri Fukuda, Petron made short work of the Generika-Ayala Life Savers in the opening round of the playoffs and is keeping its focus of completing an unfinished business after falling short in the finals of the tournament last season.
Also to be counted on are locals Mika Reyes, Frances Molina, Aiza Maizo-Pontillas and Rhea Dimaculangan.
Waiting for the Blaze Spikers are the Asset Managers, who finished the classification phase with a 6-4 card and disposed off the Cignal HD Spikers in the quarterfinals.
Serbian imports Sara Klisura and Marta Drpa are anchoring Cocolife’s push along with Royse Tubino, Tina Salak and Denden Lazaro.
The team hopes to make it to its first finals appearance.
“Petron is the best team this season. I must admit that. But it still lost a match. It still has some flaws. We have to put our best foot forward to expose those flaws and convert it to a victory in the semifinals,” said Cocolife coach Moro Branislav.
The Petron-Cocolife semifinal series kicks off today’s festivities at 4:15 p.m.
PSL matches are broadcast live over ESPN5. — Michael Angelo S. Murillo

PHL Ice Hockey Team concludes their first match of the year at the SM Skating Mall of Asia

THE Philippine Ice Hockey team finished their first game of the year by taking home the bronze medal at the Challenge Cup of Asia (CCOA). The International Ice Hockey Foundation (IIHF)-sanctioned competition was held at the SM Mall of Asia Ice Skating Rink and marks the country’s first time to host the regional event.
Team captain, Steven Fuglister, was named the Most Valuable Player of the tournament with his split 14.5-second goal hit in the Philippines’ last game against Singapore.
“We want to thank everyone for their great show of support at this year’s Challenge Cup. Our families, friends, and fans gave us an incredible source of strength and motivation during this run, testament to our podium finish,” said Jonathan de Castro, the Philippine Ice Hockey Team’s new coach.
The national team will next play at the Philippine Ice Hockey Tournament in June. Although this will not have any direct impact to their IIHF standing, it will further promote the sport as some of the competing teams will come from neighboring countries.
The 2019 Southeast Asian (SEA) Games will play a big role towards the team’s overall direction as they look to defend their gold title and advance to the IIHF World Championships. With the Philippines as SEA Games host, the team also looks forward to having the home crowd cheer them on.
“We are currently starting preparations for the men’s and potentially the women’s teams for next year. Riding on our motivation from CCOA, the coaching staff is currently breaking down film from our last game to move forward and create the roster for the upcoming 2019 SEA Games,” de Castro added.
Future ice hockey games of the national team will be held at SM Skating Mall of Asia, which boasts an Olympic-sized ice skating rink that was unveiled last October 2017. SM Lifestyle Entertainment’s support for figure skating and speed skating alongside ice hockey goes hand-in-hand with SM Group’s vision to help and build homegrown talents.
For more updates and announcements on tournaments and events of the Philippine Ice Hockey team, visit SM Skating’s website at www.smskating.com or follow the official social media accounts at @smskating.

IM John Marvin Miciano

Asian Youth Chess Championship
Under-18 Standard Time Control
Chiangmai, Thailand
April 2-9, 2018

Final Top Standings
1. FM John Marvin Miciano PHI 2260, 7.5/9
2. Daniel Quizon PHI 2228, 6.5/9
3-5. FM Xu Zhihang CHN 2344, IM Tran Minh Thang VIE 2400, FM Wong Yinn Long MAS 2222, 6.0/9 6-9 Omidi Arya IRI 2400, FM Mitrabha Guha IND 2366, Timur Nurzhanov KAZ 2296, CM Le Minh Hoang VIE 2226, 5.5/9
10-13. CM Thilakarathne GMH SRI 2214, FM Mohammad Fahad Ragman BAN 2337, Ashid Tsetseg Ulzii MGL 1941, FM Jeet Jain IND 2232, 5.0/9
Total Participants: 30 players
Time Control: 90 minutes play-to-finish with 30 seconds added to your time after every move starting move 1
The two representatives from the Philippines finished 1-2 in the Under-18 standard time control chess championship for Asia.
FEU’s John Marvin Miciano won the gold medal and was automatically awarded the title of International Master. Through the kindness of his coach GM Jayson Gonzales, he has agreed to annotate all of his 9 games in this event for us. I have picked out some of them to show to our readers. The first round game had a lot to do with pumping up John’s adrenaline for the rest of the tournament.

Miciano, John Marvin (2260) — Crowley, Regan (1826) [C11]
Asian Youth U18 Standard Chiangmai (1), 02.04.2018 [Miciano,JM]

1.e4 e6 2.d4 d5
My opponent was moving confidently as I had lost to him in the rapid tournament.
3.Nc3 Nf6 4.e5 Nfd7 5.f4 c5 6.Nf3 Nc6 7.Be3 Qb6!?
This line is very complicated, but only if black sacrifices a piece. You will see later.
8.Na4 Qa5+ 9.c3 cxd4 10.b4
This is the only move to save the a4–knight, for example after 10.Nxd4 Nxd4 11.Qxd4 b5.
10…Qc7!?
I wasn’t expecting this. The usual line is 10…Nxb4 11.cxb4 Bxb4+ 12.Bd2 Bxd2+ 13.Nxd2 0–0 14.Bd3 b5 15.Nb2 Nb6 followed by Nc4 and Black has the initiative.
11.Nxd4 Nxd4 12.Bxd4
I usually play 12.Qxd4 but this line is enough for a draw.
12…Be7 13.Bd3
This is the optimum square of the bishop, the knight need not to be maneuvered immediately because I’m not sure where the battle could take place. More chance is on the kingside because I have more space there, but I was not sure.
13…0–0 14.0–0 Re8 15.Qh5
This provokes black to push his pawns in front of his castled king but maybe I should have started immediately with 15.Rc1 and after 15…b6 I might immediately play 16.c4 (or make a preparatory move with 16.a3 this type of position also arise in Caro-Kann openings) 16…dxc4 17.Rxc4 Qd8 18.Nc3 Bb7 19.Nb5 white has the initiative as Rc8 isn’t possible yet.
15…Nf8 16.Nb2?!
Too slow. I also considered 16.Rf3 as one of the candidate moves, but I was not sure if because after 16…g6 17.Qh6 I still need to play Nb2 anyway. As they say, the threat is stronger than the execution, but I was making sure my knight is also taking part of the battle.
16…Bd7 17.Nd1
[17.Rf3 is still the best move, and after 17…g6 18.Qh6 White will follow through with Nb2–d1–e3]
17…a5 18.a3
Of course, close the queenside.
18…g6
This is a necessary move that has been done soon.
19.Qe2!?
I wasn’t sure about 19.Qh6 as it looks like Black can parry it with 19…Ba4 20.Ne3 Nd7 followed by Bf8 but looking at the game afterwards, it looks like I can still win with 21.f5! Bf8 (21…gxf5 22.Nxf5 exf5 23.Bxf5 it will be mate soon; 21…exf5 22.e6! f6 23.Bxf5 is an overwhelming attack) 22.Qh3 — and now there is a horrible threat of 23.fxe6 fxe6 24.Rf7! Kxf7 25.Qxh7+ Bg7 26.Bxg6+ Ke7 (26…Kf8 27.Rf1+) 27.Qxg7+ Kd8 28.Bxe8 Kxe8 29.Rf1 Black has no defense.
19…b6
Here it shows that Black has no plan at all — he is just waiting to see what I do.
20.Ne3 Bc6 21.Ng4 Reb8 22.Qe3 Nd7 <D>
Position after 22…Nd7
The final attack starts now.
23.f5!
Opening the diagonals for my bishops.
23…exf5 24.e6! Bf8
[24…fxg4 25.exf7+ Kf8 26.Qh6#]
25.exf7+ Kxf7 26.Bxf5 1–0
Black resigns as his king is defenseless. For example: 26.Bxf5 gxf5 27.Rxf5+ Kg8 28.Qe6#.
The top seed Vietnamese IM Tran Minh Thang was taken out early by Miciano’s compatriot the 14-year-old son of a motorcycle mechanic Daniel Quizon (we will have more to say about him later). After this Tran lost again in round 4 and was not a factor in the medal race.
After John defeated Regan Crowley he was in good spirits and won his next four games as well, taking out the no. 2 (Iran’s Omidi Arya), 3 (India’s LFM Mitrabha Guha) and 4 (Chinese FM Xu Zhihang) seeds in rapid succession.
Let’s take a look at those games.

Miciano, John Marvin (2260) — Omidi, Arya (2400) [B23]
Asian Youth U18 Standard Chiangmai (3), 03.04.2018 [Miciano, JM]

1.e4 c5 2.Nc3 d6 3.f4
He didn’t expect this because I have no games on this opening in the chess databases.
3…Nc6 4.Bb5 Bd7 5.a4
Preferring to hide the bishop than exchange it, I honestly don’t want to exchange my light squared bishop this early.
5…g6 6.Nf3 Bg7 7.0–0 Nf6 8.d3 0–0 9.Bc4
It looks like my a4 pawn move is useless, but actually it hides my bishop and at the same time prevents a6–b5 ideas.
9…Nd4 10.Nxd4 cxd4 11.Nd5
[11.Ne2 Rc8 I got this position against IM Ronald Bancod once, but black has saved time without a6, and he can go with ideas like e6–d5.]
11…Nxd5
[11…e6 12.Nxf6+ Bxf6 13.Qf3 white gets an attack on the kingside whatever black moves]
12.Bxd5 Qc7 13.f5 e6
[13…Bc6 14.Bb3 followed by Qd1–g4–h4 and Rf1–f3–h3.]
14.f6 exd5 15.fxg7 Kxg7
Black’s squares on the kingside are rather weak, but after f6 white will have a hard time breaking through, I thought for a plan in this moment, because recapturing the pawn on d5 actually might waste a move for an attack.
16.exd5 Rac8 17.Qf3
There was a better plan with 17.Qe1 but after 17…f6 no one would of course play 18.b4! but the purpose is to develop the dark squared bishop along the a1–h8 diagonal 18…Qxc2?! 19.Qe7+ Rf7 20.Bh6+ Kg8 21.Qxd6 white immediately gets an attack.
17…f6
Black of course had to prevent Qf6+ followed by Bh6.
18.Rf2 Rce8 19.Bf4 Qc5 20.Raf1 Bxa4 21.Qh3 g5?
Allows me to deliver a deadly zwischenzug. Better is 21…h5 which attempts to close the kingside. I had planned to continue 22.b3 Bb5 23.Qg3 Qxd5 24.Bxd6 Rf7 25.Ba3 followed by Ba3–c1, Qg3–f4 and h2–h4.
22.b3! Bb5?
Still not sensing the danger. 22…gxf4 is forced after which 23.bxa4 Qxd5 24.Rxf4 Black has a pawn advantage but his king is wide open.
23.Qg3 Qc8
A bit of a disappointment. After 23…Qxd5 there is a beautiful line 24.Bxd6 Rf7 25.Rf5 Qc6 26.Rxg5+!! Kh8 (26…fxg5 27.Qxg5+ Kh8 28.Rxf7 the end) 27.Be5!! Qe6 28.Bxd4 Rd8 29.Bb2 Bc6 30.Qh4 followed by Rg6.
24.Bxg5
Now everything is easy.
24…fxg5 25.Qxg5+ Kh8 26.Rf7! Rxf7 27.Rxf7 Re1+ 28.Kf2 Re2+ 29.Kxe2 Qxc2+ 30.Ke1 Qc3+ 31.Kf2 Qc2+ 32.Kg1 1–0
We will continue on Thursday.
 
Bobby Ang is a founding member of the National Chess Federation of the Philippines and its first Executive Director. A Certified Public Accountant, he taught accounting in the University of Santo Tomas for 25 years and is currently Chief Audit Executive of the Equicom Group of Companies.
bobby@cpamd.net

Spurs’ sparkplug

It would be an understatement to argue that the Spurs had their backs to the wall heading into Game Four of their opening-round series against the Warriors. Down zero to three, they needed to put together an outstanding effort on both ends of the court in order to stave off elimination, and not just because they faced the far superior defending champions. For the second straight match, they trekked to the AT&T Center without head coach Gregg Popovich, who was grieving the loss of his wife; the development meant they had to find an answer to their predicament, a seemingly Sisyphean task as evidenced by the 21-, 15-, and 13-point setbacks they hitherto absorbed.
Nonetheless, the Spurs were sure of one thing despite their tribulations: They would be fighting to the end. Regardless of score or circumstance, they would be hauling backsides, scrapping for the ball, and showing their capacity to be the best they can. For all their relative lack of talent, they knew exactly what it took to be greater than the sum of their parts. And so they remained confident of their chances, especially since they figured to have the support of a capacity crowd in one of the best homecourt venues in the league.
As things turned out, the Spurs exceeded themselves en route to forging their own double-digit victory. All-Star LaMarcus Aldridge was a rock, but the game ball belonged to 40-year-old sparkplug Manu Ginobili, whose tenacity on defense and utter fearlessness on offense forwarded the cause of the black and silver. He was particularly transcendent in the crunch, puncturing the hoop with consistency under pressure in a marked departure from his scoreless stint in Game Three.
In the aftermath of the upset, Ginobili touched on the motivation he derived from playing for acting head coach Ettore Messina; under the latter’s tutelage, he had thrived in the Euroleague prior to joining the National Basketball Association, and he relished the throwback opportunity. “Good memories,” he said. In any case, the Spurs continue to be the underdogs, and if they’re keen on staying alive, let alone advance to the conference semifinals, they’ll need more of his heroics.
 
Anthony L. Cuaycong has been writing Courtside since BusinessWorld introduced a Sports section in 1994.

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