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Petron nets P9.5 billion in 6 months on higher petroleum prices

PETRON CORP. reported a 16% increase in net income to P9.5 billion in the first six months of 2018, as sales volumes in the Philippines and Malaysia were sustained while prices of petroleum products rose.
“We intend to fortify our leadership position as we ride on the continued economic growth of the Philippine and Malaysian markets. We continue to integrate our value chain, build up our supply and logistics capabilities, and roll-out more service stations than our competitors,” Petron President and Chief Executive Officer Ramon S. Ang said in a statement on Tuesday.
Petron, the country’s the largest oil refining and marketing company, did not release second quarter figures.
In the first half, consolidated revenues rose 32% to P273.5 billion from P207 billion in the same period last year “driven by sustained sales volumes of its Philippine and Malaysian operations and higher prices of crude oil and finished products.”
Consolidated sales volumes expanded to 54.4 million barrels. Benchmark Dubai crude oil in the first semester averaged $68 per barrel, 32% higher compared with the level in the same period last year.
In the Philippines, Petron said “continued focus on other high-margin products resulted in petrochemicals generating strong sales.” This allowed the company to surpass by 14% last year’s first half volumes. Gasoline and aviation fuel also increased by 8% and 4%, respectively.
In Malaysia, where Petron said it is a “leading player,” sales volumes grew by 7% largely because of stronger retail sales.
“Petron Malaysia now has over 620 service stations and is becoming a significant force in this highly-competitive market. Petron also benefited as the Malaysian ringgit recovered and continued to strengthen during the period,” it said.
Operating income for the semester stood at P15.6 billion, higher by 7% compares with than last year’s P14.6 billion.
“This did not reflect the robust growth in revenues of 32% because the increase in cost of crude outpaced the increase in prices of finished goods,” Petron said, adding that the price movements reduced the company’s gross profit rate to 8.5% from 10.2% a year ago.
Petron, which has a combined refining capacity of 268,000 barrels a day, produces a full range of fuels and petrochemicals. It has over 3,000 service stations where it sells gasoline and diesel.
Shares in the company slipped 1.11% to P8.90 each on Tuesday. — Victor V. Saulon

Shifting gov’t fund releases to boost electronic payments

espenilla
GOVERNMENT fund releases will give a boost to electronic payments. — BW FILE PHOTO/JINO NICOLAS

By Melissa Luz T. Lopez, Senior Reporter
SHIFTING government fund releases to digital channels will give a substantial boost to electronic payments, the central bank chief said, but flagged that connectivity issues remain a barrier to adoption.
Industry officials said they are on track to raising e-payments to 20% of total transactions by 2020 as they expect exponential growth in using e-payment platforms.
“One of the approaches that we are working on is to push for the government to transition from its current form of collections and disbursements to digital form,” said Raymond O. Estioko, head of the Bangko Sentral ng Pilipinas (BSP) Payments System Oversight Department.
“Discussions are going on with several government agencies. We believe that we will be able to convince the government to go digital because it is more convenient, more efficient for them.”
BSP Governor Nestor A. Espenilla, Jr. added that the biggest barrier to shifting state disbursements — such as benefit payments, cash transfers, and tax collections — is technology. However, he said state-run lenders are already scaling up to offer these platforms.
“The current arrangement is they have government banks. The government banks are already gearing up to be able to participate, so it is just a question of months before they are ready,” Mr. Espenilla told reporters during a media forum yesterday.
“That is why I am quite confident that 20% (by 2020) is very doable.”
The central bank targets to shift cash-heavy transactions to digital avenues via the NRPS, which they expect to help broaden access to financial services and spur increased economic activity. The BSP targets to lift the share of digital payments from a measly 1% recorded in 2013.
So far, industry players have rolled out the Philippine Electronic Fund Transfer System and Operations Network (PESONet) to process high-value interbank payments as well as the InstaPay platform for real-time transfers worth below P50,000.
Justo A. Ortiz, chairman of the Philippine Payments Management, Inc. (PPMI), said the 20% target can be achieved but would require “mass adoption” among the public, which in turn will push faster peer-to-peer, retail and even government payments.
BSP Deputy Governor Chuchi G. Fonacier also said that they expect the signing into law of the Philippine ID System Act is expected to broaden financial inclusion, as it would simplify the client verification process needed to open bank accounts.
Of the 74 PPMI member institutions, 58 banks and financial firms are currently offering the PESONet service while 48 are aboard the InstaPay as of July 31, according to industry data.

Music and nostalgia in Eto na! Musikal nAPO!

By Nickky F.P de Guzman, Reporter
Theater Review
Eto Na! Musikal nAPO
Produced by 9 Works Theatrical
Ongoing until Aug. 26
Maybank Performing Arts Theatre,
Bonifacio Global City, Taguig

ETO NA! Musikal nAPO! is bounded by time (it is set in 1975), but it is timeless in theme, and, of course, in music that transcends generations.
It is 1975 and a barkada from an all-male college wants to join a song-writing contest. It is obviously that the songs they pen, and which are used throughout the musical, are those of the legendary Apo Hiking Society.
The first scene is set on the first day of class and the whole gang breaks into song, “Blue Jeans,” which sets the tone for the rest of the musical — light, funny, and breezy.
But then, the story is set in 1975, the age of dictatorship, which means that the narrative would thread between the light moments of the college friends and the dark realities of the Marcos regime that shaped their consciousness. It is established early in scenes which feature the enforcement of a strict curfew, the banning of group assemblies, and then the boys have to be careful about what they say in public because the ground had ears. “Bawal magmura!” is heard every time the friends confront their differences or express their excitement.
An original musical, Eto na! Musikal nAPO! is a tribute to APO’s songs, a trip down memory lane, and then some.
The four leads are a long-haired Mark Bautista (it suits him) who plays as Rick, the group’s lyricist who has to juggle his studies, love life — his girlfriend Anna is played by Rita Daniela —, and song writing. When things go awry between the lovers, of course, they have to sing “Tuyo Nang Damdamin.”
Then there’s Jon Go, who plays as Ray, a medical student conflicted between his passion in music and his studies. Neomi Gonzales plays his lenient mom and Raul Montesa his strict dad who insists he prioritize med school above all else. The family members sing “Batang Bata Ka Pa” to express where they are coming from. In Act 2, Mr. Montesa has a heart-wrenching solo of “Pagibig.” I could hear the entire Maybank Theater weep as he sang the first few lines, “No’ng tangan ng nanay mo ang munti mong mga kamay, ika’y tuwang-tuwa, panatag ang loob sa damdaming ika’y mahal.” It was a powerful scene.
For comedic relief there is the playboy of the bunch, Butch, played by stage neophyte Jobim Javier (an FM radio DJ who also happens to be the son of APO’s Danny Javier). Javier proves to be a complete package on stage — he sings, he dances, and drops jokes in perfect timing. Of the many girls Butch casually meets on campus, he is determined to woo Michelle (played by Sab Jose) who already has a basketball player for a boyfriend. Butch, of course, sings “Mahirap Magmahal ng Syota ng Iba.”
One of the leaders in the group is Sonny, played by Alfritz Blanche. He’s literally and figuratively big — both his physique and his voice. Sonny has a girlfriend, Jane, played by Marika Sasaki, and they quarrel every time they talk about their future — Jane had to continue her studies abroad because the family business is in a tight situation thanks to President Marcos. “Paano” just had to be the lover’s duet.
The remaining three boys in the barkada are Jaime (Jef Flores), Bobby (Vyen Villanueva), and Donnie (Jon Abella), who serve as the chorus of the group in Act I, but are given pivotal roles in Act 2. It was implied that these three are the avatars of APO’s Jim Paredes, Boboy Garovillo, and Danny Javier.
Flores’ Jaime elicits loads of laughter thanks to his barok Tagalog — both the actor and the character he’s playing are pretty Amboys (Filipinos who grew up in the US).
The fun also comes from the many references to the era the story is set in. Besides from on-point 1970s costumes like bell bottoms and large collared-polos, the show makes references to the Thrilla in Manila boxing match, having a date at the Magnolia Ice Cream House, the absence of traffic on Highway 54 (present day EDSA), and an air-conditioned Love Bus. The audience couldn’t help but laugh at these references and remember the life back then.
Another factor that makes the production interesting is the careful effort put into making it. Some recent musicals that are based on a band’s repertoire often jam in unnecessary events to accommodate the use of a hit song. But not this musical. Writer and director Robbie Guevara, with the help of his co-writer and dramaturge Jon Jon Martin, married songs and scenes impeccably.
Also included in the musical are the APO hits “Salawikain,” “Pumapatak na Naman Ang Ulan,” “Ewan,” and “Awit ng Barkada,” among many others. Musical director Daniel Bartolome did not alter the arrangements drastically, which meant the audience could sing along — but only under their breath, of course.
The musical’s linear narrative means it has to end with whether or not the barkada is able to create songs and join the contest.
Eto Na! Musikal nAPO is a production of 9 Works Theatrical and Globe Live, co-presented by Frontrow and Fox Life. It is on view at Maybank Performing Arts Theatre in Bonifacio Global City, Taguig until Aug. 26. For tickets visit www.ticketworld.com.ph.

Nickel Asia founder Zamora retires

WWW.NICKELASIA.COMNICKEL ASIA Corp. (NAC) on Tuesday announced the retirement of its chairman and founder Manuel B. Zamora, Jr.
In a disclosure to the stock exchange, NAC said Mr. Zamora has been appointed as chairman emeritus, while current president Gerard H. Brimo was named chairman and CEO.
Martin Antonio G. Zamora was named president of NAC and its subsidiaries.
At the same time, NAC reported its attributable net income rose 2% to P1.57 billion in the first half of 2018.
Revenues fell 6% year-on-year to P7.38 billion during the first six months, “due to weaker ore export prices brought about mainly by rising ore shipments from Indonesia.” Indonesia partially lifted its export ore ban in January 2017.
As a result, NAC said it realized an average price of $18.05 per WMT (wet metric ton) on 4.89 million WMT of ore export sales from its four operating mines this year. Last year, it realized an average price of $25.96 per WMT on 4.68 million WMT of ore sales.
“Net foreign exchange gains due to a weaker Peso exchange rate combined with stronger earnings from the Company’s processing plant affiliates, Coral Bay Nickel Corporation (CBNC) and Taganito HPAL Nickel Corporation (THPAL), booked under the equity method, more than offset the drop in the company’s revenues,” NAC said.
NAC realized a net foreign exchange gain of P525 million during the January to June period, versus P167 million during the same period last year.
The company noted CBNC and THPAL also benefited from the rising prices of London Metal Exchange (LME) prices, “due to lower inventories of refined metal in LME warehouses, in part the result of growing demand for nickel used in batteries for the electric vehicle market.”
NAC recognized P526 million of earnings from its 10% share in the two plants during the first half versus the P55 million reported last year.
“The increasing ore supply from Indonesia and its negative effect on ore export prices remains our biggest challenge for the remainder of the year,” Mr. Zamora, NAC’s new president, was quoted as saying in a statement.

Korean bonds to stay strong amid rate bets

ANY RATE HIKE by the Bank of Korea (BoK) will probably be one and done for the year, and shouldn’t impact investor demand for government bonds, according to the country’s second-largest asset manager.
“A rate hike is mainly to minimize the potential negative impact caused by a widening gap between the Federal Funds Rate and the local policy rate before economic fundamentals wane,” said Jinha Kim, head of global fixed income in Seoul with Mirae Asset Global Investments Co. which oversees 108 trillion won ($96 billion). “Under these circumstances the BoK wants to hike rates one time before it gets late.”
The hawkish tone seen in the minutes of the BoK’s July meeting released last week were largely interpreted by strategists as a call for a rate increase coming as early as August.
Some members pointed to a rise in inflation, the widening US rate differential and the desire to lessen financial imbalances among reasons to hike rates.
While other emerging bond markets in Asia are struggling with withdrawals, foreign funds have pumped almost $32 billion into South Korean bonds this year, turning the market into a haven. A rate hike by the BoK this year would be the first since last November, and economists only expect a third hike next year.
The country’s 3-year bond yield has fallen over 20 basis points since its February high to around 2.10% Monday. The yield on 3-year US Treasuries was about 2.73%.
“I don’t expect a one time hike can have any impact on foreign flow,” said Kim. “A one time hike is already priced in to local government bonds,” he said. Mirae sees the 3-year KTB yield between 2.08% and 2.13% by year-end.
AUGUST POSSIBILITY
According to Kim, the central bank could hike in August but expects it to move at the very least by October, “before it’s too late.” Other investors see less of an urgency to raise rates.
“Korea doesn’t have an inflation problem, per se, so the BoK isn’t facing a test of its credibility. It is taking monetary policy to a more neutral stance as circumstances allow,” said Cristiana De Alessi, London-based emerging market debt portfolio manager for local rates at BNP Paribas Asset Management who sees a BoK hike most likely in November.
“I’m constructive on the short end of the Korea curve while the long end will be more tied to global rate movements,” she said.
SOFTENING DATA
For Eugene Leow, a fixed-income strategist at in Singapore at DBS Group Holdings Ltd., the central bank may want to keep the option of normalizing policy, as there has been some softening recent economic data. The central bank in July cut its growth forecast down to 2.9% from its earlier 3% projection while the government also lowered its forecasts.
A rate hike is likely in December and is not likely to be the first of many, according to Leow.
“Any hike cycle by the central bank of Korea is likely to be modest compared to the Federal Reserve,” he said. This means the country’s debt is still “very attractive,” at least from a hedged perspective, he said. — Bloomberg

Arts & Culture (08/08/18)

CCP kicks off tribute to Tita King

NATIONAL ARTIST for Music Lucrecia R. Kasilag

THE Cultural Center of the Philippines (CCP) and Philippine Women’s University School of Music present the Sandaang Kasilag: Celebrating the King Inaugural Concert on Aug. 18, 7 p.m., at the Tanghalang Aurelio Tolentino (CCP Little Theater). The concert kicks off the year-round tribute to National Artist for Music Lucrecia R. Kasilag, fondly known as Tita King, on the occasion of her 100th birth anniversary. A beloved and highly esteemed figure in the artistic community, Ms. Kasilag was a long time Dean of PWU and first and longest serving president of the CCP. The inaugural concert will showcase a wide variety of solo and ensemble works by Ms. Kasilag. The show will feature faculty and performing groups of the PWU School of Music including pianists Abelardo Galang II and Karen Fatima Francisco, flautist Crystal Rodis Concepcion, violinist Denise Santos-Huang, cellist Antoni Josef Inacay, baritone Marvin Gayramon, guitarists Jose Valdez and Ivar Nicolas Fojas, the Pinoy Brass, the Kasilag Guitar Trio, the PWU Vocal Ensemble under Christopher Borela, the PWU Indayog Gongs under Lilymae Montano, and the PWU Guitar Ensemble under Benchito Cariño. The year round tribute, “Sandaang Kasilag: Celebrating the King,” will highlight Ms. Kasilag as a composer, arts administrator, and music icon whose works and achievements broke new grounds. Running from August 2018 to August 2019, the tribute will include concerts, workshops, exhibits, and conferences in different venues in Metro Manila. Ms. Kasilag developed a musical language in her works that successfully put Filipino and Western musical elements alongside each other. She was a composer whose music spanned a wide variety of artistic forms and genres — ballet, theatre, opera, solo instruments, orchestra, chamber music, voice, and chorus. For more information, call Luisa Galicia at 526-8421 loc. 195.

Mayen Estañero joins M. Butterfly cast

M. BUTTERFLY producer Jhett Tolentino, actors Mayen Estañero and RS Francisco, and director Kanakan-Balintagos

THEATER actress Mayen Estañero has been cast in the role of Comrade Chin in Front Row Entertainment’s production of M. Butterfly, a Tony Award winner for Best Play, replacing Rebecca Chuaunsu who bowed out due to schedule conflicts. The production is directed by Kanakan-Balintagos. The drama, written by David Henry Hwang, inspired by Giaccomo Puccini’s opera Madame Butterfly, is loosely based on events surrounding a 1986 espionage trial about a mysterious Chinese opera singer and a French diplomat. RS Francisco shall reprise his portrayal of Song Liling, the Chinese opera singer. Ms. Estañero has performed in Himala, Zsa Zsa Zaturnnah, the CCP Virgin Labfest’s Mula sa Kulimliman, Buwan at Baril sa E Major, Moliere PMS, Tanghalang Ateneo’s Boy, Tatlong Linggong Pag-ibig, and Manhid: The Pinoy Superhero Musical. M. Butterfly will have performances from Sept. 13-30 at the Maybank Performing Arts Theater, BGC Arts Center, Bonifacio Global City. For tickets, call TicketWorld at 8919999.

Dotted art at Robinsons Galleria mall

A PAINTING by Dolpee Alcantara

ROBINSONS GALLERIA will be filled with the whimsical art of Dolpee Alcantara who will hold a one-man exhibit dubbed as Dotted Beauty from Aug. 16 to 22. Over 30 artworks done in oil and acrylic will be exhibited and be up for sale at the mall’s Level 3, Body Senses. The artist uses dots and lines coupled with playful and creative imagination to form scenes of nature.

Smart says 92% of Metro Manila sites with LTE

PLDT, Inc.’s wireless mobile unit Smart Communications, Inc. said it has upgraded more than 92% of its sites in Metro Manila with Long Term Evolution (LTE) and LTE-Advanced (LTE-A) technology.
In a statement on Tuesday, the telco giant said it has deployed LTE sites in Quezon City, Marikina City, Caloocan City, Valenzuela City, Navotas City and Malabon City.
For Makati City and Manila City, PLDT said it expects completion of network improvement efforts by October.
“Smart has deployed over 2,000 LTE sites across Metro Manila, which use low-frequency bands such as the 700 MHz band for wider coverage and better indoor penetration, and high-frequency bands like 1800 MHz and 2100 MHz bands for additional capacity,” Smart said.
Smart said it has “deployed carrier aggregation technology across all of Metro Manila’s 17 cities and municipalities, paving the way for much greater speeds in Metro Manila, where over 12 million Filipinos work and live.”
“In addition to our continuous investments in upgrading our network to improve customer experience in Metro Manila and across the country, we are also working with device manufacturers to make more LTE and LTE-A-capable devices available in the market,” Mario G. Tamayo, PLDT and Smart senior vice- president for network planning and engineering, was quoted as saying.
PLDT has allocated a P58-billion capital expenditure for the year, and its Smart unit is pushing for a more aggressive roll out of its LTE and LTE-A services.
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

PSBank to decide on home loans in a day

PHILIPPINE SAVINGS Bank (PSBank) said decisions on home loan applications will now take just one day for the purchase of condominium units and properties from selected developers.
In a statement on Tuesday, the savings banking arm of Metropolitan Bank & Trust Co. said it will only take a day for the bank to grant loans for brand new condominium units and properties from accredited developers.
PSBank Senior Vice-President Noel Tuazon said the process of providing a credit decision within a day comes after the bank’s streamlining of internal evaluation processes.
“[This allows] the bank to offer the fastest possible credit decision on home loan applications for condominiums available in the country,” Mr. Tuazon was quoted as saying in the statement.
He added that the new approval process is available to clients who wish to buy units from accredited developers such as SM Development Corp., DMCI Holdings, Inc., Megaworld Corp., Eton Properties Philippines, Inc., Rockwell Land Corp. and Ayala Land Premier, among others.
On the other hand, its current approval process on condominium units and properties from non-accredited developers shall go through the standard credit decision of five days through text message. This will be applied as well for loan applications to acquire a house and lot, vacant lot and townhouse or duplex among others.
PSBank said its decisions on car loans are already available within a day for more than two years now.
In the first quarter, PSBank’s net profit stood at P641.1 million, up 25% from P511.1 million in the same period last year, supported by its retail business. — KANV

How PSEi member stocks performed — August 7, 2018

Here’s a quick glance at how PSEi stocks fared on Tuesday, August 7, 2018.

Philippine Stock Exchange’s most active stocks by volume turnover — August 7, 2018

Nayong Pilipino officials sacked over onerous casino lease deal

PRESIDENT Rodrigo R. Duterte on Tuesday fired the entire board of the Nayong Pilipino Foundation (NPF) for approving a “grossly disadvantageous deal,” on the same day a Chinese firm broke ground on a $1.5-billion integrated resort and casino on the foundation’s property.
Nayong Pilipino logoPresidential Spokesperson Herminio L. Roque, Jr. said the president announced the sacking of the NPF officials at the Cabinet meeting on Monday, with official papers for their termination to be issued “in due course by the Executive Secretary.”
“He cited the case of Nayong Pilipino which leased government property for a ridiculously long period of time of 70 years, beyond the lifetime of anyone. And he considered this a contract which was grossly disadvantageous to government,” Mr. Roque said in a briefing on Tuesday.
Mr. Roque said the president “will have the (lease agreement) canceled as being grossly disadvantageous to government.” The government’s preferred period is 25 years.
The sacking of the NPF officials coincided with the groundbreaking ceremony held by Chinese casino operator Landing International Development Ltd. on an integrated resort and casino project called NayonLanding. The development will rise on a 95,700 square meter (sq.m.) site leased from the NPF for 25 years, which can be extended for another 25.
Asked whether Mr. Duterte was referring to Landing International’s project when he called the deal “disadvantageous,” Mr. Roque said the president has yet to provide details.
Reuters reported that the Chinese casino deal will be canceled, though Mr. Roque was quoted as saying by the news agency that the proposed rental arrangement is “unconscionable.”
In a statement, NPF Chairperson Patricia Ocampo rejected accusations that the board and management were involved in a graft-ridden deal with Landing International. She, however, accepted the president’s termination of her leadership.
“I strongly deny that there was graft and corruption. On the contrary, the lease contract with Landing International is above-board, and is highly advantageous to the Filipino people,” Ms. Ocampo said.
NPF clarified that monthly rental for the 9.5-hectare property was P360 per sq.m., with an advance rental of P827.05 million. The foundation will also be collecting an additional monthly rental equivalent to 10% of net profit from the operations on the site.
“We negotiated what we believed then, and believe now, are most advantageous terms and conditions for the government and the people,” Ms. Ocampo said.
Landing International said it will continue to pursue the project, which will consist of an indoor cultural theme park and waterpark, including plans for what it claims is the first and largest indoor movie-based theme park in Asia. It will also offer around 1,500 luxury hotel rooms, a convention center with a ballroom that can seat 4,000 guests, a shopping mall, and a casino.
Landing International said two-thirds of the site will be dedicated to gaming, while one-third will be for the non-gaming component, with an intended market of visitors from China, Taiwan, Hong Kong, South Korea, and Southeast Asia.
In a media briefing before the project’s groundbreaking ceremony, Landing International Chief Operating Officer Jay Lee said the company’s chairman met with the president during one of his overseas trips.
“I think we started looking at this investment more than a year ago. In one of the visits of the president overseas… our chairman was able to meet up with the president. That was a year ago, and he said he welcomed foreign investors,” Mr. Lee said.
In a separate statement on Tuesday afternoon, Landing International said the removal of the NPF officials will not affect its project.
“From the group’s viewpoint, the recent decision of the Philippine government to replace members of the NPF board of trustees did not affect the validity of the subject contract of lease,” the company said.
“Unless the lease contract is canceled or nullified on legal grounds by the courts, Landing has reason to believe that it is a valid leaseholder and can legally proceed with its project,” it added.
Landing International further noted that it has a provisional license from the Philippine Amusement and Gaming Corp. that allows the company to operate a casino in 2022, provided that it complies with all requirements set by the law. The company is scheduled to commence operations on the casino component of NayonLanding that year. — Arra B. Francia

Barangay Ginebra Kings go for PBA title clincher

By Michael Angelo S. Murillo
Senior Reporter
SEIZING control of their best-of-seven Philippine Basketball Association (PBA) Commissioner’s Cup finals series after winning back-to-back games, the Barangay Ginebra San Miguel Kings now try to complete the dethronement of defending champions San Miguel Beermen in Game Six today at the Mall of Asia Arena in Pasay City.
Winners in Games Four and Five, the Kings go for the clincher in the scheduled 7 p.m. game that would hand them their third PBA title in six conferences and 11th championship overall while frustrating the Beermen, also the Philippine Cup champions, in their repeat aspirations and Grand Slam hopes.
Barangay Ginebra overtook San Miguel in the series when it was able to dig deep in the end and pull a huge win in Game Five, 87-83, on Sunday.
Down by three points, 83-80, with two minutes remaining in the game, the Kings went on a 7-0 run the rest of the way to carve the path to victory.
Do-it-all guard Scottie Thompson stepped up for Barangay Ginebra down the stretch, scoring six of the final seven points of the Kings to make the win possible.
Barangay Ginebra also held it down on defense, making it hard for San Miguel to execute its offense as it tried to salvage the victory.
The slim Game Five victory of Barangay Ginebra was a complete change in the series that saw blowouts in the first four games.
Mr. Thompson led the Kings with 20 points and 11 rebounds in Game Five with import Justin Brownlee adding 18 points.
For San Miguel it was import Renaldo Balkman who led with 34 points and 20 rebounds while big man June Mar Fajardo finished with 23 points and 11 boards.
For winning coach Tim Cone, defense played a huge part in the victory even as he gave credit to Mr. Thompson for stepping up in the end.
“It’s about defense. It’s about making stops. It’s a tough defensive battle and that’s what I like. It’s 40-all at the half, and that’s the kind of game we wanted to play. We pulled it off,” Mr. Cone said.
“Scottie played great for us. He was doing everything. He reminded me of Russell Westbrook [of the Oklahoma City Thunder]. He is becoming a complete player,” he added.
NOT GIVING UP
While they are down in the series, the Beermen are not about to give up and vowed to come back better in Game Six.
“Though we lost, I’m proud of the way my team played. I thought we would win the game but we didn’t get the breaks in the end,” San Miguel coach Leo Austria said.
“We’re not losing hope. I expect the players to bounce back on Wednesday. There is no room to be down at this point. We have to be positive, be focused and give our all to extend the series,” he added.

Batang Gilas holds off China to advance outright to quarterfinals

By Michael Angelo S. Murillo
Senior Reporter
THE Philippine national youth team got the better of China in their clash of top Group B teams in the FIBA U18 Asian Championship in Thailand, winning, 73-63, on Tuesday to go undefeated in the group stage and book a direct pass to the quarterfinals of the tournament.
Displaying the steadiness and balance that have marked its campaign so far in the tournament, Batang Gilas kept the Chinese at bay to solidify its standing as one of the teams to beat in the U18 Asian Championship.
The match was tight right from the start with the two teams battling hard to establish control of the contest.
The Philippines topped the opening quarter, 18-15, and ditto the second frame to carry a 31-27 advantage midway into the key ball game.
In the third, led by Sean Ildefonso, Batang Gilas pulled away to hold a double-digit lead, 54-39, heading into the final 10 minutes.
While everybody thought China was ready to concede, it mounted a ferocious comeback in the fourth quarter, coming to within six points, 68-62, with 39 ticks to go,
But the Philippines was not to be denied of the win as it put the finishing touches on the game from the free-throw line.
Ildefonso led Batang Gilas with 18 points and seven boards while AJ Edu had 13 points, 14 rebounds and five blocks.
Guard Dalph Panopio had 12 points and eight rebounds with Kai Sotto chipping in 11 points and 10 boards. Miguel Oczon was the other Batang Gilas in double-digits in scoring with 11.
China, meanwhile, was paced by Haowen Guo with 24 markers.
For winning the group, Batang Gilas earned a one-day rest, joining other group winners Iran (Group A), Australia(Group C) and either South Korea or Chinese Taipei (Group D), which are still playing as of this writing.
The second- and third-place teams in the group stage battle it out in a playoff today to determine which of them get to join the early quarterfinal qualifiers.
Batang Gilas is to face the winner between Bahrain and the loser between the ongoing game of South Korea and Chinese Taipei in the quarterfinals on Thursday.

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