KTM Dukehana Philippines champion

July 1, 2018 | 5:34 pm

LUISITO Sta. Ana bagged the championship in the highly anticipated KTM Dukehana finals held in Cebu City. He will represent the country in the Dukehana Asia Finals 2018 and compete against other Asian champions including those from Thailand, China and Taiwan.

Gear change

July 1, 2018 | 5:33 pm

Golf is about talent, and professional golf is about talent in abundance. It’s also about self-assurance, and perhaps in larger measure. Certainly, confidence — or, to be more precise — the absence thereof, is why players change equipment. When they lose their mojo on the course, their thought process invariably leads them to making any and all modifications to the status quo, with the brunt of their attention focused on the sticks in their bag.
And so that’s how Tiger Woods arrived on the first tee at the Quicken Loans National over the weekend. Having had results that could, at best, be described as mixed since he returned to competitive play following a fourth back surgery, he showed up with a new putter and tons of hope it would finally allow him to maximize the strides he had made with his driver and irons. No doubt, the decision was made with a heavy heart; the Scotty Cameron Newport 2 was in his hands when he claimed the last 13 of his 14 major championships.
If nothing else, Woods’ willingness to part with an all-time favorite spoke volumes of what he thought about his immediate past work on the greens. Statistics supported his frustrations, too; he had been among the tour’s laggards when it came to “Strokes Gained — Putting.” And his mind-set wasn’t just to change the hardware. He moved to adjust his form as well, going for the mallet-style TaylorMade Ardmore 3; the break in tradition was clear.
So far, Woods has reason to deem the move at least a moderate success. After completing the first round with a putting performance that ranked 100^th out of the 120 on the field, he improved remarkably; he needed just 26 and 27 swings on the greens in the second and third rounds, respectively. How he will fare on the bentgrass at the TPC Potomac today remains to be seen, but he can’t complain with his progress so far. As he noted after a penultimate-18 68 that could actually have been much better, “I’ve felt good with my putter all week.”
Of course, it’s also “feel” that will have Woods going to his familiar flatstick anew sooner rather than later. Even Clay Long, who designed the Ardmore 3, concedes it as inevitable. “If you have a relationship with a putter, a good relationship with a specific putter, you’re always prone to pick it back up,” he said in an interview with USA Today. And he’s right. After all, it isn’t just any other flatstick. It’s a heavily customized one made from German Stainless Steel and with a Ping PP58 grip.
For Long, the key is to regain the swagger. “Ninety-nine percent of the time, it has nothing to do with the putter itself. A lot of times you will switch to a different style putter or a putter with a different sight line to just give you something to look at. And sometimes that kind of straightens out your alignment, or whatever it is that’s wrong with your putting, and sometimes you go back to your old putter once you get confident and your stroke gets where you’re hitting in on line.”
For Woods, though, first things first. He’s ninth and six strokes behind the pace in a birdie haven. To claim his first victory in five years, he will most definitely have to make his putter work — or, rather, work less. That he believes he can at this point is a step in the right direction.

Anthony L. Cuaycong has been writing Courtside since BusinessWorld introduced a Sports section in 1994.

Where are the most congested roads in Metro Manila?

July 1, 2018 | 5:06 am

By Jochebed B. Gonzales, Senior Researcher
In 2017, the average volume of vehicles that passed through Metro Manila’s circumferential and radial road each day was recorded at 2.7 million.
Cars accounted for more than half of the volume, which was estimated at 1.47 million, followed by motorcycles with 697 thousand.

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How many vehicles pass through EDSA everyday?

July 1, 2018 | 3:25 am

By Jochebed B. Gonzales, Senior Researcher
With 367,728 vehicles traversing daily on the average, EDSA remains the National Capital Region’s most congested road, based on 2017 estimates. Vehicles that pass through this highway account for 13.6% of the average daily traffic in Metro Manila, which is reported at 2.7 million vehicles.
Cars make up two-thirds of the volume of traffic in EDSA, while jeepneys, UVs, taxis and buses make up 11.4%.

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How many Filipinos are employed by the MSMEs?

June 30, 2018 | 5:13 pm

By Jochebed B. Gonzales, Senior Researcher
In 2016, nearly five million Filipinos were employed by businesses classified as micro-, small- and medium-sized enterprises (MSMEs).
On the other hand, large-sized establishments provided work for 2.8 million Filipinos.
ALSO READ: Small businesses in the Philippines continue to grow

How Philippine banks will fare amid rising interest rates

June 30, 2018 | 5:04 pm

Moody’s Investors Service said Philippine banks will continue to thrive in the wake of back-to-back policy rate increases from the Bangko Sentral ng Pilipinas (BSP) and rising global yields.
The global credit rater also see little risk of problem loans even as interest rates rise further, noting that policy adjustments can be expected to temper credit growth.
Read the full story.

BSP sees June inflation between 4.3-5.1%

June 29, 2018 | 7:43 pm

wet market produce section — *BW FILE PHOTO*

By Melissa Luz T. Lopez, Senior Reporter
INFLATION remained elevated in June given higher prices of rice and crops as well as cooking gas, the Bangko Sentral ng Pilipinas (BSP) reported on Friday.
In a statement, the BSP Department of Economic Research said inflation likely clocked in between 4.3-5.1% this month. This compares to the central bank’s 4.6-5.4% forecast range given for May, which eventually clocked in at 4.6% — the fastest pace in at least five years.
The Philippine Statistics Authority (PSA) will release latest inflation data on Thursday.
“Upward price pressures from rice and other agricultural commodities due to weather-related disruptions as well as the increase in LPG (liquefied petroleum gas) prices could be partly tempered by the reduction in fuel prices and electricity rates in Meralco-serviced areas,” the BSP unit said.
Farmgate prices for unmilled rice rose in the second week of June ahead of the so-called lean months in between harvest seasons, the PSA said in a report.
Typhoon Domeng (international name: Maliksi) and tropical depression Ester (Gaemi) coupled with a southwest monsoon also hit parts of the country earlier this month, bringing heavy rains and flooding in a number of provinces and dampened farm output.
A price hike for liquefied petroleum gas (LPG) products was also implemented this month. In contrast, retail pump prices declined over the past week, mirroring movements in the world crude market, according to the Department of Energy.
Power distributor Manila Electric Co. (Meralco) also announced a P0.1252 per kilowatt-hour reduction in utility rates, marking the second straight month of declines due to lower generation and transmission charges.
Prices of goods and services have picked up by 4.1% for the first five months, versus the government’s 2-4% target for the entire year. In turn, the BSP decided to introduce back-to-back rate hikes in May and June to rein in future inflation and keep prices competitive.
The BSP has conceded to missing this year’s goal as inflation is seen at the 4.5% level for the full year, with policy makers setting sights on tempering price spikes back to target by 2019.
Looking ahead, the BSP said it will “continue to keep a watchful eye” on price developments in order to keep the financial system stable and economic growth robust.

DM Wenceslao slumps in market debut

June 29, 2018 | 7:42 pm

By Arra B. Francia, Reporter
PROPERTY developer and construction firm D.M. Wenceslao & Associates, Inc. raised P8.15 billion in the country’s first initial public offering (IPO) this year, but its shares closed below its offering price on its first day of trading.
Shares in DMW opened 20 centavos lower than its P12 IPO price to P11.80 each — its highest for the day — before hitting a low of P9.66 intraday.
The company managed to taper off losses by closing bell, but still ended 14.5% or P1.74 lower to P10.26 apiece. In contrast, the benchmark Philippine Stock Exchange (PSE) index jumped 1.8% or 127.11 points to 7,193.68.
DMW’s market capitalization stood at P40.75 billion after the fundraising activity.
Maybank Kim Eng Securities Pte. Ltd., which acted as one of the offer’s joint global coordinators and bookrunners, said 70% of the buyers were institutional investors, while the remaining 30% were retail.
“Transaction was anchored by institutional investors, and also including some corporate investors as well… It’s clear to say there was a very strong domestic institutional focus, there was traction from international investors, but majority of the demand was from domestic,” Maybank Rajiv Vijendran said during a briefing after DMW’s listing ceremony on Friday.
The company launched its IPO amid current volatility in the market, which entered bear territory after the benchmark PSE index fell more than 20% from its high of 9,078 in January.
“One of the reasons why we proceeded with the IPO is that we are confident about the growth trajectory of the company… When we decided to greenlight the project, the market was at 9,000. The growth prospects did not change, just market sentiment,” DMW Chief Executive Officer Delfin Angelo C. Wenceslao said in the same briefing.
Analysts noted that the property company, which is developing Aseana City in Pasay City, was affected by the overall bearish sentiment in the market.
“The negative and bearish market sentiment prevailed upon its listing thus the price was downed from its IPO, plus the tightening of global monetary policy,” Diversified Securities, Inc. Trader Aniceto K. Pangan said in a mobile text message.
Summit Securities, Inc. President Harry G. Liu noted the same, saying the market’s reception to the stock was lukewarm given the general slowdown in the market.
“It’s just acting according to the market sentiment, which is soft. I suppose that’s how DMW reacted… The company’s fundamentals will support itself at a certain price level,” Mr. Liu said in a phone interview.
Net proceeds of the offer reached P7.6 billion, 49% of which will be used to finance the nine projects DMW has lined up for its flagship development Aseana City over the next five years.
Around P2.9 billion has been allotted for the acquisition of land assets, while the remaining P1 billion will be used for infrastructure development.
Four of the projects are office and retail developments, intended to boost DMW’s recurring income in the future.
“Moving forward, you would probably see us maintain our recurring income at 50-60%,” Mr. Wenceslao said.
DMW currently has yet to develop 58 hectares of land within the 204-hectare Aseana City. Aside from Aseana, the company also has land in Cavite, Quezon City, and Makati City. Outside Metro Manila, the firm is conducting due diligence for a land reclamation project in Mandaue, Cebu.
Mr. Wenceslao noted the company’s current land bank will be enough for the next 15 years.
“Considering its positive fundamentals with a recurring revenue of 50%, I believe it’s a good growing company. It has an advantage in location as this (Aseana City) is considered the next central business district after BGC (Bonifacio Global City) with leasing as predominant in this place due to strong presence of outsourcing business,” Diversified Securities’ Mr. Pangan said.

New draft rules propose auction of frequencies for 3rd telco player

June 29, 2018 | 7:41 pm

THE Department of Information and Communications Technology (DICT) released on Friday another set of draft guidelines for the selection of the third major player in the telecommunications industry, this time proposing an auction of the frequency spectrums.
The latest draft joint memorandum circular reflects the preferred selection process of the Department of Finance (DoF), wherein the highest bidder for the five-year commitment period will be be selected as the new major player.
A minimum bid of P36.58 billion was set.
“Please note that the minimum bid amount is pegged from the Spectrum User Fees (SUFs) being paid by existing telecommunications companies and does not yet consider the inputs/recommendations of experts from International Telecommunication Union (ITU) and best practices from other countries, and hence, is in no way final,” the DICT said in an e-mailed statement.
“Further, while there is a minimum bid amount, in this mode of selection, there will be no cap on the bid amount as the participant who submits the highest bid shall be selected as the New Major Player,” it added.
The latest draft terms of reference, as well as an another version released earlier this week, will be discussed during a public consultation on July 6.
“Both will be subject to public discussion on July 6, Friday. But after one is selected, this will undergo the legal process for becoming the MC (memorandum circular) for the selection process,” DICT Acting Secretary Eliseo M. Rio, Jr. said in a mobile text message.
The DICT on Tuesday released a draft of the terms of reference, which used the Highest Committed Level of Service (HCLoS) as the basis for selecting the third telco player.
Based on the criteria for selection, a 40% weighting was assigned to the bidder’s ability to serve a percentage of the population, with another 40% of the score to be given to its capital expenditure commitments. It also assigned a 20% weighting to an applicant’s commitment to certain broadband speed levels.
The bidder’s capital spending plans, including operational expenses, are subject to a minimum of P40 billion.
Mr. Rio earlier opposed the DoF’s proposal to hold an auction for the frequencies, instead backing the use of the HCLoS as basis for selection instead.
“The DoF wants to auction the frequencies, and the third player will be the highest bidder. We think this is anti-competitive because the incumbent telcos never bought their frequencies from the government,” Mr. Rio earlier said. “It will put a big burden on a new player by (forcing it to) put up a huge amount up front that has nothing to do with putting up an infrastructure and improving telecommunications services.”
Both versions of the terms of reference require participants to have a Congressional telecommunications franchise that is not related to the two dominant players PLDT, Inc. and Globe Telecom, Inc., as well as a paid-up capital of at least P10 billion.
Participants should also have at least five years’ experience in the delivery and operations telecommunications services.
The third player must also be able to provide its services to at least 30% of the country’s population on its first year of operations, and must provide a minimum broadband speed of 10 Megabits per second (Mbps). After its first five years, it said the new major player must have covered at least 50% of the population.
The DICT is targeting to name the third telco player before the year ends.
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

Trillanes seeks probe into anti-loitering operations

June 29, 2018 | 7:40 pm

By Arjay L. Balinbin
OPPOSITION Senator Antonio “Sonny” F. Trillanes IV has filed a resolution seeking an investigation, in aid of legislation, into the alleged arrest of loiterers by the members of the Philippine National Police (PNP) following the order of President Rodrigo R. Duterte.
Senate Resolution No. 775, which was filed on June 28, directs the Senate committee on public order and dangerous drugs to probe police operations against “tambays” or loiterers.
The resolution aims to “review existing laws and local ordinances to ensure that no human rights violations were committed and that the PNP is acting within its mandate and the bonds of law.”
In his resolution, Mr. Trillanes stated that the drive against loiterers “poses a grave threat to basic human rights of Filipinos and violates due process of law.”
He added: “It also runs counter to the goal of the policy to make streets safer as it only promotes a culture of fear and injustice, especially among the poor.”
For his part, Senator Richard J. Gordon said in a press release on Friday that there is a need “to arm village officials in areas with high crime rates, rebellion or insurrection to help them protect themselves and their community.”
However, “the government should not give arms to those in the drug list or those who have criminal records,” he also said.
Last Thursday, Malacañang said it is ready to defend Mr. Duterte’s anti-loitering drive. “So we welcome the Congressional investigations, and we welcome also challenges before the Supreme Court. The President has said so,” Presidential Spokesperson Harry L. Roque, Jr. said in a press briefing at the Palace.
Mr. Roque also said Mr. Duterte’s administration does not intend to criminalize vagrancy. “We are not criminalizing vagrancy po. We are implementing the laws and ordinances and it is a form of higher police visibility intended to act as deterrent towards the commission of crimes,” he said.
Asked if the campaign is not in violation of Republic Act No. 10158, a law decriminalizing vagrancy, Mr. Roque replied: “Hindi po, hindi po (No, no). (The) decriminalization… is (only) a particular crime of vagrancy under the Revised Penal Code, and that’s without prejudice to other existing ordinances.”

Robredo to appeal decision that penalizes her for violating sub judice rule

June 29, 2018 | 7:39 pm

VICE PRESIDENT Maria Leonor “Leni” G. Robredo on Friday said she plans to challenge the Presidential Electoral Tribunal’s (PET) decision to slap P50,000 fines against her party and counsel as well as those of former Senator Ferdinand “Bongbong” R. Marcos’s for violating the court’s sub judice rule.
Standing by her decision to counter Mr. Marcos’s claims in public regarding their ongoing election recount, Ms. Robredo plans to submit to the PET a Motion for Reconsideration, saying in a speech in Basilan, “kapag may kasinungalingan na sinasabi, ang pakiramdam namin kailangan naming i-correct (if there are lies being spread, we feel it is right for us to correct them.)”
She, however, clarified she would “(susunod) naman sa orders ng PET (follow the orders of the PET.)”
Mr. Marcos, likewise, said he and his camp would abide with the PET’s orders.
The PET had ordered Ms. Robredo and Mr. Marcos to explain why should not be cited in contempt for violating the court’s gag order when they disclosed information about the recount to the public.
Both maintain their innocence, with Ms. Robredo saying she was only defending herself from Mr. Marcos’s lies.
The manual poll recount between the two started on April 2 and stemmed from a complaint by Mr. Marcos which accused Ms. Robredo of committing electoral fraud to win the vice presidency in the 2016 national elections.
“Irregularities” have been observed by both camps, chief being the wet ballots and missing audit logs Mr. Marcos claimed were encountered during the initial days of the recount. — Dane Angelo M. Enerio

Ombudsman suspends DENR exec for abandoned Canadian trash

June 29, 2018 | 7:38 pm

THE Office of the Ombudsman has suspended Department of Environment and Natural Resources (DENR) Undersecretary Juan Miguel Cuna in connection with the abandoned shipment of garbage imported from Canada to the Philippines in 2013, according to a statement released on Friday.
According to the Ombudsman, Mr. Cuna was, “found guilty of Simple Misconduct and ordered suspended without pay for three months,” with DENR Secretary Roy A. Cimatu directed to implement the suspension order.
The Ombudsman added Mr. Cuna faces violations of Republic Act (RA) No. 3019 or the Anti-Graft and Corrupt Practices Act for allegedly “mishandling” the shipment of trash.
It was discovered in its investigation that Canadian-based exporter Chronic Inc. shipped the container vans filled with plastic scrap materials “without securing import entries for its shipment that arrived in July 2013 and August 2013.” There were 50 containers in total that were not claimed by Chronic.
Upon closer look, Ombudsman investigators found that Mr. Cuna, then Director of the DENR’s Environmental Management Bureau (EMB), “issued a Registry Certificate for the Importation of Recyclable Materials Containing Hazardous Substances dated 19 June 2013 despite the lack of details in the Importer’s Registry Sheet.”
“Respondent Cuna acted with gross inexcusable negligence when he issued a Registry Certificate in favor of Chronic Plastics despite the insufficient details in its Importer Registry Sheet,” the Ombudsman said.
It explained, “[w]ithout the necessary information, the EMB cannot sufficiently make a determination that Chronic Plastics is capable of recycling materials to be imported. However, despite this, respondent Cuna still approved Chronic Plastic’s application of registration.”
Mr. Cuna also allegedly issued six Importation Clearances to Chronic Plastics “despite an existing Notice of Violation dated 05 September 2013 for importing heterogenous and assorted plastic materials in violation of DENR Administrative Order No. 1994-28.”
According to the Ombudsman, “it is the mission of the EMB to protect, restore and enhance environmental quality towards good public health, environmental integrity and economic viability. It is also mandated to strictly implement environmental laws and restrict or prohibit the importation, manufacture, processing, sale, distribution, use and disposal of chemical substances and mixtures that present unreasonable risk and/or injury to health or the public.”
Canadian Prime Minister Justin J.P. Trudeau has expressed willingness to resolve the issue with the Philippine government but has yet to order the trash to be returned. — Dane Angelo M. Enerio