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PEZA still confident it will hit P300-B investment approval goal despite war

THE Philippine Economic Zone Authority (PEZA) said it remains positive about hitting its investment approval targets this year, noting that operations in its economic zones (ecozones) remain “normal” in the face of the fallout from the Persian Gulf crisis.

“While we remain bullish about our performance and targets, we acknowledge the presence of global and local headwinds that may impact investment flows and business confidence,” PEZA Director General Tereso O. Panga said at a forum on Monday.

He noted that high oil prices may elevate supply chain costs within its ecozones.

“Ongoing conflicts in the Middle East and other regions have resulted in rising global oil prices, which may pose risks to logistics and supply chains — especially for export-oriented industries that are highly dependent on fuel and transportation,” he noted.

Mr. Panga said that conditions within PEZA’s ecozones remain stable.

“Potential and existing investors are closely monitoring how the situation will unfold in the long term. However, within PEZA ecozones, conditions remain stable and operations are normal,” he said.

Mr. Panga said PEZA is following global developments and stands ready to recalibrate its targets and strategies as needed.

“While challenges such as potential logistics disruptions may arise if global tensions persist, PEZA remains confident in the Philippines’ long-term competitiveness,” he added.

For 2026, PEZA is hoping to approve P300 billion worth of investment proposals. As of February, the agency approved P35.37 billion worth of investments.

“Our value proposition to investors is, other than those looking at exporting basically to the US and Europe, we can be their hub in the region as a gateway to Asia-Pacific,” Mr. Panga said.

He also reiterated the need to amend Republic Act No. 7916 or The Special Economic Zones Act of 1995, or the PEZA Law, Mr. Panga said.

“We want to strengthen PEZA and enforce our powers to issue permits and our regulations inside PEZA ecozones, similar to powers granted to other IPAs (investment promotion agencies),” Mr. Panga said. — Beatriz Marie D. Cruz

Non-tariff measures on meat imports need streamlining — PCC

PHILSTAR FILE PHOTO

NON-TARIFF measures (NTMs) imposed on meat shipments were tallied at 169, which warrants streamlining if the growing Philippine market for imported meat is to become more competitive, the competition regulator said.

The Philippine Competition Commission (PCC) said in a brief that the Philippines remains among the world’s fastest-growing meat consumers, with demand projected to expand by 3.45% annually through 2028.

The study found that 169 NTMs are imposed on pork, beef, and chicken imports, with sanitary and phytosanitary (SPS) measures accounting for 77% of the total.

While these measures are designed to safeguard public health and address market failures, the PCC said they can become trade barriers when implemented through “onerous mechanisms.”

“Under such circumstances, NTMs act as non-tariff barriers, which are measures that effectively increase the price of goods or decrease the volume of trade by placing restrictive burdens on importers,” the PCC found.

The PCC said institutional gaps contribute to the inefficiency in the process and difficulty in compliance. These include inflexible and ambiguous guidelines, a lack of alignment with international standards, and weak coordination among regulatory agencies.

The commission added that procedural gaps, such as excessive documentation requirements and prolonged processing times, increase compliance costs and delay shipments.

Among the measures flagged by the PCC study as “potentially anti-competitive” are SPS import clearances required for every shipment, the 90-day must-ship-out rule, and strict labeling and packaging requirements.

The PCC said these requirements are often stringent and repetitive, forcing importers to incur additional expenses that are typically passed on to consumers through higher prices.

Supply constraints are further exacerbated by delays in the accreditation of meat-exporting countries and foreign meat establishments, as well as licensing requirements for importers.

These bottlenecks reduce the number of qualified suppliers and limit competition in terms of both price and product variety, the PCC said.

“Procedural challenges encompass recurring process delays, thereby restricting companies’ capacity to import goods efficiently and sustain supply,” the study concluded.

To address these concerns, the PCC recommended closer coordination among regulators, streamlining of processes, and the adoption of international best practices in managing NTMs.

It also proposed integrating NTM disciplines into trade agreements and strengthening the overall regulatory framework to ease compliance for businesses.

The commission said improving the implementation of NTMs could help lower trade costs, expand supply, and promote fair competition, ultimately benefiting consumers through more affordable and diverse meat products. — Vonn Andrei E. Villamiel

Department of Finance calls for more ASEAN+3 financial cooperation

DOF.GOV.PH

THE Department of Finance (DoF) called for closer financial cooperation among Association of Southeast Asian Nations+3 (ASEAN+3) economies to mitigate the risks from global and regional crises.

“The Philippines, through the DoF, is pushing for concrete measures to strengthen regional financial resilience and cooperation,” it said in a statement on Monday.

“By anticipating risks, sharing insights, and coordinating policy responses, member economies can navigate these challenges together,” it added. “While each economy manages its own domestic pressures, a united regional approach is key to building resilience and safeguarding stability against external shocks,” it added.

ASEAN+3 refers to the 10 ASEAN member states and the China, Japan, and South Korea.

The DoF said it is pushing for the advancement of regional disaster risk financing in response to climate-related challenges. 

“Member economies expressed support for continued collaboration and the creation of a roadmap to boost regional resilience and preparedness,” it added.

Disaster risk financing will be on the agenda of the ASEAN+3 Finance and Central Bank Deputies’ Meeting next month.

“This vision of support was evident at the second Task Force Meeting held from March 3-4 in Osaka, Japan, which was co-chaired by the DoF and the Bangko Sentral ng Pilipinas, together with the Japan Ministry of Finance and the Bank of Japan,” it said.

According to the department, the International Finance Group said during the meeting that the recent disruptions in the Strait of Hormuz and the volatility in oil prices “have direct impacts on fiscal space, economic growth, and livelihoods.”

“Member economies likewise supported ongoing discussions on the DoF-championed Sovereign Asset and Fiscal Empowerment Facility, which embeds disaster insurance directly into development projects financed by bilateral and multilateral partners,” it said.

“The DoF also continued to advance the Philippines- and Japan-led ASEAN+3 Fiscal Exchange, a platform for finance ministries to share best practices and insights, strengthening collective regional resilience,” it added. — Justine Irish D. Tabile

Mindanao highway assured of funding until 2034

FACEBOOK.COM/BUKIDNONPROVINCEPHILIPPINES

THE Department of Budget and Management (DBM) said it approved long-term funding across Presidential terms of P145.56 billion for the Central Mindanao High Standard Highway Construction Project.

“The move underscores the President’s push to fast-track high-impact infrastructure projects that directly improve mobility, strengthen regional economies, and create more opportunities for Filipinos, especially in Mindanao,” the DBM said in a statement on   Monday.

The DBM said the Forward Obligational Authority it issued ensures sustained financing for the project between 2026 and 2034.

The project is expected to enhance connectivity between Cagayan de Oro and Malaybalay, Bukidnon by cutting travel time from 6.5 hours to 3.5 hours.

“This means faster travel, lower transport costs, and more efficient movement of goods — benefits that will directly impact commuters, farmers, businesses, and local communities,” it said.

According to the DBM, the highway will seek financing from the Japan International Cooperation Agency and the Asian Development Bank on top of the government’s counterpart funding. — Justine Irish D. Tabile

PPP Center project tally hits 248, valued at P2.94 trillion

PPP.GOV.PH

THE Public-Private Partnership (PPP) Center said 248 projects are in the pipeline, valued at P2.94 trillion as of March 18.

The PPP Center said 166 projects worth P2.81 trillion will be implemented by the National Government, while 82 projects worth P134.82 billion will be overseen by local government units (LGUs).

194 projects are solicited or were initiated by the government, while the remaining 54 projects are unsolicited.

In terms of project value, railways accounted for P1.75 trillion, followed by property development (P321.24 billion) and land transport (P233.06 billion).

Projects to be located in the National Capital Region amounted to P1.91 trillion, followed by Central Luzon (P1.08 trillion), and Calabarzon (P644.94 billion).

218 projects are in the development stage, valued at P2.46 trillion.

17 projects worth P203.03 billion were in the approval stage, while 13 projects worth P281.73 billion are at the procurement stage. — Justine Irish D. Tabile

MSMEs also require targeted subsidies — analyst

Stalls selling school uniforms are seen at Quiapo Market in Manila. — PHILIPPINE STAR/RYAN BALDEMOR

THE GOVERNMENT should look at providing targeted subsidies to micro, small and medium enterprises (MSMEs) and the middle class, an analyst said, adding that more oil reserves are needed in case the Middle East crisis is prolonged.

Asian Consulting Group Founding Chairman and Chief Tax Advisor Raymond A. Abrea said the move to suspend the excise tax on fuel should be a last resort in addressing rising pump prices.

“The suspension of excise, especially when value-added tax (VAT) is included, is not the most effective and immediate solution to reduce the effect of rising prices,” he said at the Pandesal Forum in Quezon City on Monday.

“What we support is a better, transparent, digitalized release of targeted subsidies because if excise is suspended and VAT is included, the rich and big companies will benefit more,” he added.

He said about 50-70% of diesel consumption is accounted for by the top 10-20% income earners or households.

The measure disproportionately benefits the rich, “as instead of the government collecting money from them, since they can afford it, they (will be effectively exempt in the event of a) suspension.”

“We are really advocating for more targeted and more transparent subsidies, even including MSMEs and our middle class, or tax relief,” he added. “But the suspension (of excise tax) should be the last resort and should be limited.”

He said during crises, the government only provides subsidies and tax relief to the most vulnerable segments of society.

“What we forget is that those who are working and are paying their taxes are not receiving any tax relief or assistance because (the belief is) they can afford it because they have salaries,” he said.

“We should have assistance or tax relief for the MSMEs who are really struggling to make ends meet and for the employees who do not receive assistance,” he added.

The ACG is pushing for a law setting mandatory subsidies and tax relief for MSMEs and the middle class during crises.

He said that if rising prices persist, the government can suspend the excise tax on fuel but not VAT.

“But it should be for a limited time. It cannot be prolonged because more than P100 billion (in collections) will be lost.”

“If you also suspend the VAT, the revenue loss will exceed P200 billion. And where will the government get that?” he added.

He said prolonged suspensions of both taxes will push the government to borrow again.

“There should be clear economic indicators so that there is no need for emergency power because it is a waste of time. Dapat kilos kaagad (Immediate action is needed),” he added.

Asked how long the government should implement the suspension, he said: “I am with the Department of Finance in saying we really need to weigh in and consider all factors if this escalates… our response should be based on the situation,” he said.

“I think it’s reckless to just suspend it for a month or three months when we don’t know how long the crisis will last,” he added.

ACG estimates that targeted subsidies for vulnerable segments of society, like commuters, public utility vehicles operators, and the agriculture industry — will cost the government P3.5-5 billion.

Mr. Abrea added that the government should prioritize investing in oil reserves.

“At this point, we need to be more rational and strategic. What the government should do first is to want to secure supply,” he said.

“If (the war) escalates, supply will be the problem. Hopefully, intervention of our international partners (to ensure) safe passage through the Strait of Hormuz would secure the supply,” he added.

He said that the price control measures will be for naught in the absence of supply. — Justine Irish D. Tabile

Taxing imported petroleum products: VAT vs excise

With Iran being roughly 7,000 kilometers away from the Philippines, the direct effects of the Persian Gulf crisis may not be a matter of concern here, though the indirect ramifications certainly have caught everyone’s attention — simply because the Middle East is a major source of petroleum. Iran, in particular, is the third-largest producer in the Organization of the Petroleum Exporting Countries (OPEC), supplying 4.5% of the world’s crude and petroleum products. It also sits astride the Strait of Hormuz, a crucial passageway for such products, and has moved to block transit for tankers carrying products from other Gulf countries that are wholly dependent on the waterway, like, Kuwait, Iraq, Bahrain, Qatar, and part of the output of the United Arab Emirates and Saudi Arabia. Since the outbreak of fighting, Iran has restricted use of the Strait by threatening to attack tankers shipping products from unfriendly countries.

The Philippines sources 90% of its imported petroleum products from the Middle East. Pump prices continue to climb as the conflict grinds on and depletes petroleum socks here. Congress has moved to approve a bill granting President Ferdinand R. Marcos, Jr. emergency powers to suspend or remove the excise tax on petroleum products.

As such, it is important to understand how petroleum products are taxed in the Philippines and how the Middle Eastern conflict influences these taxes.

EXCISE TAX
Section 129 of the Tax Code defines excise tax as a tax imposed on goods manufactured or produced in the country for local sale and consumption and on imported goods. “Specific” excise tax is imposed based on weight, volume, or another unit of measurement, while “ad valorem” excise tax is imposed on the selling price or value of the good or service. Due to their nature, imported petroleum products pay a fixed specific tax on a per-liter or per-kilogram basis. As provided under the Tax Code and in practice, the excise tax on imported petroleum products is paid before such products are released by the Bureau of Customs.

The Tax Reform for Acceleration and Inclusion Law, or TRAIN Law, amending the Tax Code, sets out the specific tax rates of various petroleum products. Three main petroleum products that are crucial in our day-to-day life are (1) unleaded premium gasoline gas, used in transportation and taxed at P10.00 per liter; (2) diesel and similar fuel oils, also used in transportation and taxed at P6.00 per liter; and (3) liquefied petroleum gas, essential for households and the service industry and taxed at P3.00 per kilogram. The Department of Finance (DoF) reported that imported petroleum products accounted for an average of P160 billion in excise tax collections between 2021 and 2025.

VALUE-ADDED TAX (VAT)
Section 105 of the Tax Code defines VAT as an indirect tax imposed on any person who, in trade or business, sells, barters, exchanges, or leases goods or renders services, or on any person who imports products. Given the indirect nature of VAT, the burden of the tax is ultimately carried by the buyers.

VAT is based on the landed cost of imported petroleum products, which is the total of the purchase price, the cost of transporting the petroleum, and the related excise tax when landed. This means that the higher the landed cost, the higher the VAT to be paid. According to the (DoF), imported petroleum products account for an average of P116 billion in VAT collected between 2021 and 2025.

THE TRUE IMPACT OF THE MIDDLE EAST CONFLICT
One might ask, “Does the conflict actually have an impact on taxes?” Well, the answer is “Yes.”

Given that excise tax rates are statutorily fixed, the conflict has no direct impact on the imposed specific tax on imported petroleum products. Regardless of fluctuations in global oil markets or geopolitical catastrophes, excise tax remains constant and is uniformly applied based on the quantity of the product.

The impact of geopolitical conflict is more directly felt on VAT, since the VAT is computed based on the landed cost of imported petroleum products. According to Section 107 of the Tax Code, landed cost includes (1) the purchase price of petroleum products, which are determined by global markets; (2) transportation or freight costs; (3) insurance costs; and (4) customs duties and excise tax, among others. Fluctuations in the first three components during geopolitical disruptions have a compounding effect on VAT liability.​

In this context, armed conflict in the Middle East restricts oil supplies or heightens supply risks, which pushes global oil prices upward given the continued dependence of most economies on petroleum products. Disruptions and heightened security risks along key shipping routes, particularly the Strait of Hormuz, have led shipping companies to delay voyages, divert vessels, or reroute cargo through alternative ports and supply chains, resulting in longer transit times, higher freight costs, and elevated insurance premiums. The domino effect from these raises the landed cost of imported petroleum products, resulting in a corresponding increase in the VAT base and, ultimately, higher VAT passed on to the buyers.

FALLING SHORT?
With gas stations increasing fuel prices, sending diesel into the triple digits, Mr. Marcos asked Congress to grant him emergency powers to reduce or suspend the excise tax on petroleum products. Such a request has been granted through a bill that was approved by both the House of Representatives and the Senate on March 19. The measure serves as an acknowledgement of the broader economic impact of the Middle Eastern conflict.

While the limitation of emergency powers over excise tax can be understood in light of national revenue considerations, the result of this measure may be muted. Excise tax is fixed by law; any reduction or suspension offers limited flexibility in fuel price mitigation. As a result, adjustments to excise tax only provide partial and temporary relief when fuel prices increase to all-time highs.

In contrast, VAT is based on landed cost, which directly links local fuel prices to fluctuations in the global oil market. This tax structure amplifies price inflation within the economy. Increases in fuel prices here subsequently affect commuting costs, the price of basic commodities, and overall purchasing power, with outsized impact on lower-income households.

From a policy perspective, the ongoing hostilities in the Middle East illustrate how taxing fuel feeds global price shocks into the domestic economy. This creates an opportunity for a more integrated review of fuel taxation. The review need not abolish fuel taxes but rather assess whether the current fuel tax structure strikes a balance between fiscal sustainability, domestic price stability, and economic resilience. For example, policymakers may wish to consider the flexibility of excise tax and VAT adjustments during periods of conflict or catastrophe. Another option is assessing how a lowered excise tax affects VAT and how, in turn, a lower tax base for VAT transmits price shocks to consumers. A clearer alignment between revenue goals and price shock mitigation can help strengthen the Philippine fuel tax system and its capacity to manage external volatility moving forward.

Let’s Talk Tax is a weekly newspaper column of P&A Grant Thornton that aims to keep the public informed of various developments in taxation. This article is not intended to be a substitute for competent professional advice.

 

Samantha Patricia C. Buenafe is an associate from the Tax Advisory & Compliance practice area of P&A Grant Thornton, the Philippine member firm of Grant Thornton International Ltd.

pagrantthornton@ph.gt.com

Eala seen to drop in WTA ranking to No. 45 after Round of Sixteen

ALEX EALA — INSTAGRAM.COM/ALEX.EALA

WIN OR LOSE in the Miami Open Round of 16, Alexandra “Alex” Eala is projected to drop in the Women’s Tennis Association (WTA) rankings upon its weekly update on Tuesday.

From No. 29 with 1525 points, projections have Ms. Eala dipping to No. 45 (1255) according to live rankings following the expiration of the 390 ranking points she gained from last year’s final four run in the same event.

Ms. Eala collected those points — her biggest harvest ever — after beating Grand Slam champions Iga Swiatek of Poland, Jelena Ostapenko of Latvia and Madison Keys of the United States in a stellar run from being a wildcard qualifier to becoming the first Filipina WTA semifinalist in history.

The 20-year-old Filipina has actually dropped all the way to No. 50 in the early goings of the 1000-level tour this year but scooped up some points to trim her deduction.

From the 390 lost points, Ms. Eala regained 120 of these after three wins and could jack it up to 215 with a win against world No. 14 Karolina Muchova of Czechia at press time.

Ms. Eala is 0-11 against Czech players in her budding career, making it a tall order to finally score one for a quarterfinal ticket that should move her closer to defending her coveted ranking points.

A win by Ms. Eala would set the stage against either fellow rising stars in No. 9 Victoria Mboko of Canada or No. 10 Mirra Andreeva of Russia.

And should she take care of business against either of them as well, that’s the only way to stay inside the Top 30 and get those 390 points back.

Given a continuous roll and another win against either her good pal in No. 4 Coco Gauff or No. 6 Amanda Anisimova, both from the United States, in the final four, Ms. Eala then is poised to crack Top 20.

A stark improvement from a wildcard in the qualifying round last year, Ms. Eala is seeded 31st in the main draw and gained a first-round bye.

She then hacked out a 6-7 (6-8), 6-3, 6-3 Round of 64 win against No. 53 Laura Siegemund of Germany before re-asserting mastery of No. 50 Magda Linette of Poland, 6-3, 7-6 (7-2), to reach the Last 16.

Ms. Eala also reached the Last 16 in the Indian Wells Open, dubbed as the “Fifth Grand Slam” last week, that catapulted her inside the Top 30 for a new career-best ranking. — John Bryan Ulanday

Four teams in pair of stepladder play-in clash in PVL All-Filipino Conference matches

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Games on Tuesday
(FilOil Arena)
4 p.m. – Galeries Tower vs Capital1
6:30 p.m. – ZUS Coffee vs Choco Mucho

IT IS now or never for Galeries Tower, Capital1, ZUS Coffee and Choco Mucho as they tangle in a pair of stepladder play-in showdowns on Tuesday in the PVL All-Filipino Conference at the FilOil Arena.

The No. 8 Capital1 Solar Spikers clash with the No. 9 Galeries Tower Highrisers at 4 p.m. with the victors arranging another knockout duel, this time versus No. 5 Nxled Chameleon on Saturday at the Ninoy Aquino Stadium.

The No. 7 Choco Mucho Flying Titans and the No. 10 ZUS Coffee Thunderbelles, for their part, collide at 6:30 p.m. with the winner setting up a clash with No. 6 Akari Chargers also played in a win-or-go home affair at the same day at Manila venue.

The Mandy and Milka Romero-owned franchise Capiatl1 was just fresh from its 25-20, 22-25, 25-22, 26-24 win over Galeries Tower on Saturday that should give the former the needed edge, albeit a slight one, come their much-awaited encounter.

Same with Choco Mucho, which downed ZUS, 27-25, 22-25, 25-16, 25-19, in their preliminary face-off just last Thursday.

Last year’s top rookie pick Bella Belen should be the player to watch out for after the Alas Pilipinas and former UAAP MVP and champion erupted for 23 points in that win over Galeries Tower while presiding over their floor defense with match-highs 14 digs and 15 receptions.

But Ms. Belen stressed the need to play collectively as a team if they want to go far.

“It would need a total team effort for us to have a chance to go deeper,” she said.

It would be a long trek to the top not just for Ms. Belen and Capital1 but also to the other three clubs as they would need three more wins for them to gatecrash into the semifinals.

And it has to start with a victory on this one. — Joey Villar

World No. 1 Alcaraz stunned by Sebastian Korda at Miami Open

WORLD NUMBER ONE Carlos Alcaraz was stunned by Sebastian Korda, 6-3, 5-7, 6-4, in the third round of the Miami Open on Sunday, giving the American the biggest win of his career.

It appeared Korda had blown his chance to beat the Spaniard when he failed to serve out the match in the second set but he maintained composure, breaking for 4-3 in the third set and claiming the victory with an unreturnable serve on match point.

“It feels great. I took the scenic route, that’s for sure,” Korda said in an on-court interview.

“It was a little more stress than I would want but I’m happy with how I played, happy with how I stayed with it. I got myself into some nasty situations and I kept going, kept believing and I played really well at the end.”

Korda smacked one of his 12 aces to capture the first set and was on the doorstep of victory when serving for the match in the second with a 5-3 lead but was broken at love.

The momentum appeared to swing decidedly in Alcaraz’ favor from there and he overpowered Korda with a forehand to level the match at a set apiece.

But the 25-year-old from Florida refused to back down, going up a break in the decider when Alcaraz’ forehand went wide, consolidating the break for a 5-3 lead with an overhead and sealing the win on his second match point opportunity.

Korda, ranked world number 36, mixed up his game nicely, effectively using a serve and volley to notch his first win ever over a top-ranked player while also benefiting from an uncharacteristically sloppy Alcaraz.

Alcaraz began the year by winning his seventh major title and completing the career Grand Slam with a triumph at the Australian Open.

He did not suffer his first loss of the season until he fell to Daniil Medvedev in the semifinals of Indian Wells and is now 17-2 on the year. — Reuters

South Korean Hyo Joo Kim never loses grip on lead, captures Fortinet Founders Cup by one stroke

SOUTH KOREA’S Hyo Joo Kim went wire to wire, holding off Nelly Korda to win the Fortinet Founders Cup by one stroke on Sunday in Menlo Park, California.

Kim became an eight-time winner on the LPGA Tour, including this event in 2015 in Phoenix, with a 1-over-par 73 for a total of 16-under 272 at Sharon Heights Golf & Country Club, which hosted the event for the first time.

The 30-year-old had led by two shots after the opening round, four through Friday’s play and five after three rounds.

Ranked No. 8 in the world, Kim saw her five-stroke lead evaporate after 10 holes. She bogeyed Nos. 2, 8, 12, 16 and 18 to make for a dramatic finish. She countered with birdies at Nos. 6, 7, 11 and 14.

“I don’t think I was necessarily shaken up or my emotions were all over the place,” Kim said through a translator. “I was just trying to keep my focus on my shots and what I was doing. So I think was just trying to keep and lock in on that.”

Kim hit nine of 14 fairways and 12 of 18 greens in regulation, taking 30 putts.

“I think just in the back nine, my two par saves were probably the things I’m proudest about today,” Kim said. “Just because my shots weren’t playing as well.”

Korda, ranked No. 2 in the world, entered the day in second place and stayed there after firing a 3-under 69 for 15 under for the tournament.

She bookended birdies at Nos. 2 and 17 with birdies at Nos. 3, 5, 6, 7, 9 and 10 to tie for the lead at 17 under, then carded a bogey at No. 12.

Korda missed a 3-footer on No. 17 for a three-putt bogey to drop to 15 under, which provided Kim with a two-stroke cushion as they went to the 18th hole.

“The front nine was great,” Korda said. “Kind of battled a little bit more on the back nine. Wasn’t really kind of producing as much as I was on the front nine. Obviously, something like 17 stings, so it is what it is. It’s golf. It’s a quick turnaround. There is next week. So, just going to take all the positives.”

Korda hit 12 of 14 fairways and 14 of 18 greens in regulation while totaling 32 putts.

South Korea’s Jin Hee Im (69 on Sunday) and Sei Young Kim (67) tied for third at 11-under.

World No. 1 Jeeno Thitikul of Thailand shot 73 and tied for 14th at 8-under. — Reuters

Timberwolves shut down Celtics to get 1st win in Boston since 2005

BONES HYLAND scored 23 points and Jaden McDaniels finished with 19 to lead the visiting Minnesota Timberwolves to a 102-92 victory over the Boston Celtics on Sunday night.

Rudy Gobert added nine points and 14 rebounds for the Timberwolves, who won in Boston for the first time since 2005. Minnesota also received 17 points, eight rebounds and six assists from Ayo Dosunmu.

Minnesota outscored Boston, 26-15, in the final quarter, even though the Celtics scored the game’s final six points.

Jaylen Brown led Boston with 29 points and seven rebounds. Jayson Tatum added 16 points and 11 rebounds for the Celtics, who shot 35.8% from the field (34 of 95). The loss ended Boston’s four-game winning streak.

Minnesota’s Naz Reid returned to the court after missing the last two games with a right ankle sprain and had 11 points and seven rebounds.

A 9-0 run gave Boston an early 11-2 lead. Despite going one of nine from 3-point territory in the opening quarter, the Celtics led 23-14 after 12 minutes.

The Timberwolves trailed by 15 in the second quarter, but Dosunmu capped a 14-4 run with a 3-pointer that cut Boston’s lead to 33-28 with 6:59 left in the first half. Another Dosunmu 3-pointer tied the game, and a Dosunmu layup gave Minnesota its first lead at 35-33.

The Timberwolves outscored the Celtics, 33-21, in the second quarter and led 47-44 at halftime thanks to a Hyland 3-pointer in the final second of the half.

Boston scored the first 11 points in the third quarter to take a 55-47 lead. Tatum scored seven of the 11 points in the run after going scoreless in the first half. The Celtics were up 77-76 after three quarters.

KNICKS BEAT WIZARDS
Karl-Anthony Towns posted a 26-point, 16-rebound double-double and seven Knicks scored in double figures as New York rolled to its sixth straight win with a 145-113 rout of the sputtering Washington Wizards on Sunday.

The Knicks (47-25) rebounded from an anemic offensive effort their last time out in a 93-92 win on Friday over Brooklyn, pouncing on the Wizards early en route to 68 first-half points and their second-highest scoring game of the season.

Washington (16-55) was already short-handed due to a spat of injuries, and was also down starting forward Justin Champagnie on Sunday for his involvement in an altercation in the Wizards’ loss to Oklahoma City.

Still, the visitors briefly forced a tie early in the second quarter when Sharife Cooper — playing on a two-way contract — connected on a 3-pointer. The 38-38 stalemate was short-lived, with New York going on a 16-2 run.

New York spread its scoring evenly among a corps of Towns, Jalen Brunson, Josh Hart and Mikal Bridges.

The Knicks’ trio of Villanova products — Brunson, Hart and Bridges — finished with 23, 16 and 14 points. Hart added six rebounds, four assists and a pair of steals. — Reuters

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