Facebook Instagram Linkedin Twitter Youtube
Home Blog Page 12607

Offer of T-bills seen twice oversubscribed

DEMAND for Treasury bills (T-bills) at today’s auction may exceed the amount on offer on the back of lower yields, with market players looking to park their funds in shorter tenors amid continued uncertainty in the market.

The Bureau of the Treasury (BTr) plans to raise as much as P20 billion from the short-tenored securities today.

Broken down, the government will auction off P9 billion in three-month debt papers, P6 billion in six-month T-bills, and P5 billion worth of one-year papers.

“We think it will be oversubscribed by two to three times because there’s a demand on short-end tenors,” a trader said over the phone on Friday.

In the last T-bill auction, the government made a full award of the P20 billion it planned to raise, as the Treasury received offers worth P50.1 billion, more than twice the amount on offer.

“In the T-bills, I think there’s room for lower yields by about five to 10 basis points. The demand will go to the one-year and lower,” the trader added, noting that yields of the six-month and one-year bills in the previous T-bills auction slid to 2.519% and 2.849%, respectively.

Asked what will drive demand, the trader said the recent rejections the Treasury made may have improved appetite for government securities.

“Since the recent auctions were rejected, there’s a need for some supply,” the trader said.

The trader was referring to the five consecutive auctions where the Treasury rejected all offers from banks on the back of its healthy cash buffer after its successful retail Treasury bond offering last November wherein it raised P255.4 billion.

“And they (the banks) also feel [that] given the very liquid position of the Treasury, we’ll not also be inclined to accept high rates offered by the banks,” National Treasurer Rosalia V. De Leon said previously.

The trader added that the strong performance of the local bourse as well as the weak dollar could also boost demand.

On Friday, the Philippine Stock Exchange index (PSEi) finally broke the 9,000 level after it closed at 9,041.20.

Meanwhile, the greenback weakened last week due to the concerns over the United States government’s protectionist trade policies.

“The dollar is weak and the PSEi is also strong. The numbers are good for the local market,” the trader noted.

The Treasury plans to auction off P120 billion worth of Treasury bills and another P120 billion worth of Treasury bonds in the January to March period. This is higher than the P200 billion it offered in the last quarter of 2017.

The government borrows from local and foreign sources to fund its budget deficit, which for this year is capped at 3% of the country’s gross domestic product.

The government targets a P888.23-billion gross borrowing plan this year, 22.05% higher than last year.

Of this amount, P176.27 billion will be from external financing while P711.96 billion will be sourced locally. — K.A.N. Vidal

BSP extends deadline for MSB registration

THE Bangko Sentral ng Pilipinas (BSP) has given more time for pawnshops, money changers and remittance agents to apply for fresh registrations after the regulator extended the deadline until end-April.

In a statement over the weekend, the central bank said registrations issued to money service businesses (MSBs) will remain valid until April 30 after the Monetary Board last week agreed to a second extension.

The highest policy-making body of the BSP approved the extension of the “transitory period” covering the registrations of pawnshops, money changers, remittance and transfer companies, and foreign exchange dealers. Had it not been extended, all registrations will be rendered invalid by Wednesday.

“The three months extension will provide pawnshops and MSBs a grace period to file their application for re-registration with the BSP,” the central bank said, as it noted that the non-bank service providers must secure their authority to operate over the next three months.

Failure to do so will mean that their existing registration and operation permits will be “automatically revoked or cancelled.”

BSP Circular 942 issued in January last year requires all MSBs — including international remittance service networks and their sub-agents or partner firms in the Philippines — to register with the BSP. These cash agents are subject to additional documentary requirements, as well as streamlined internal protocols after the central bank decided to bring the standards closer to integrity checks imposed on banks.

This is the second extension granted by the regulator for MSBs, as the original circular previously set a June 2017 deadline for them to submit additional documents in order to update their registration status.

BSP Governor Nestor A. Espenilla, Jr. has said that they are consciously tightening rules on non-bank and parallel markets in order to curb dirty money transactions.

The changes followed a year after a remittance company was discovered to have been a key player in the cleansing of $81 million funds stolen from the Bangladesh central bank, which were then coursed through a domestic bank and local gaming tables before these were pocketed by still-unidentified thieves.

New guidelines imposed on remitters and money changers also require their board of directors and owners to craft internal policies that would establish standard operating procedures for its daily business, as well as protocols for internal control and record-keeping in order to deter shady transactions. — Melissa Luz T. Lopez

Cirtek to spend up to $8M for capacity expansion

By Arra B. Francia,
Reporter

CIRTEK HOLDINGS Philippines Corp. will be spending up to $8 million in capital expenditures (capex) in 2018 to further support its expansion and meet the supply requirements of its recent acquisitions.

“We got about $6-8 million in capex, group-wide… The chunk is really more for expanding our capacity,” Cirtek Chief Finance Officer Anthony S. Buyawe told reporters after the company’s press conference in Makati last week.

Mr. Buyawe explained the company expects higher demand for its products following the acquisition of United States-based antenna maker Quintel for $77 million in July 2017.

“As you can see with Quintel, we expect our sales to double therefore we need to expand our manufacturing capacity for that… And then obviously as we grow the business we will need more working capital so that’s gonna be for the 2018 capex,” Mr. Buyawe said.

The listed electronics manufacturer is also planning to add a fourth manufacturing facility in the Laguna TechnoPark. Cirtek currently operates three buildings inside a 20,000-square meter complex in Laguna.

“Right now we’re fully utilized in terms of floor space, so at some point we will have to build the fourth facility,” Mr. Buyawe said.

Remaining portions of the capex will be used for quality assurance of equipment, among others.

The group’s capex for 2018 is slightly higher than its actual spending of around $5-6 million in 2017, according to the Cirtek official.

For full-year 2017, the company targets consolidated revenues to hit close to $100 million, as it already expects sales from Quintel to contribute to its top-line. In terms of net income, Mr. Buyawe said it may be better than 2016’s earnings of $7.12 million, as Quintel’s impact on Cirtek’s bottom line will not yet be felt.

“Our goal for 2018 is have Quintel break even for the first quarter, and then thereafter be profitable,” he said.

Cirtek has been aggressive on acquisitions in 2017. Last December, the company also acquired a 49% stake in local e-commerce firm MultiPay for P100 million. MultiPay provides payment platforms and solutions to companies like Bayad Center, EasyPay, and DragonPay. 

MultiPay is expected to contribute P500 million in revenues in 2018.

Meanwhile, Cirtek is aiming to grow Quintel into a $500-million revenue firm in the next three to five years, making it eligible for listing at the Nasdaq stock market.

Cirtek saw its net income attributable to the parent rise 154% to $2.95 million in the first nine months of 2017, following a 25% uptick in revenues to $67.9 million during the same period.

Megaworld to develop iTownships

MEGAWORLD Corp. is currently developing a concept called iTownships, which seeks to digitize services in its existing estates and incorporate smart home technologies in individual units.

In a statement issued over the weekend, the listed property developer said this includes the digitization of customer and payment processes, integration of smart home technology in residential units, and the use of digital technology and energy efficient materials in structural designs.

Megaworld Senior Vice-President for Commercial Division Kevin Andrew L. Tan said iTownships will become the company’s new brand in “creating the townships of the future.”

Megaworld will also create Township Operation Centers, allowing it to maximize security, safety monitoring, and emergency response to every township. A smart parking system which includes electric vehicle charging in mall developments and other areas may be added as well.

Mr. Tan said they have now deployed teams to study how the integration of smart technology and innovations into its townships can be achieved. This will potentially benefit the 22 townships that Megaworld has developed over the last 28 years, which includes more than 660 residential developments, 54 office towers, and 15 malls.

“In this fast-changing digital world, we see the importance of aligning our developments to quickly adapt to the disruptions, which we perceive as opportunities,” Mr. Tan said.

Alongside incorporating digital aspects to its townships, Megaworld will also enhance green and sustainable features with this program. For instance, the company will be converting old streetlights to LED and solar-powered lights, green roofing for office buildings, and the addition of vertical green spaces.

Incorporated in 1989, Megaworld primarily engages in the development of master-planned communities that include residential, commercial, leisure, and entertainment components. The company’s subsidiaries and associates include Empire East Land Holdings, Inc., Global-Estate Resorts, Inc., Suntrust Properties, Inc., and Richmonde Hotel Group International Limited, among others.

Megaworld’s net income attributable to the parent grew 11% to P9.98 billion in the first nine months of 2017, against the P8.98 billion it generated in the same period in 2016. Revenues, meanwhile, increased 5% to P37.1 billion during the same period.

Megaworld is the real estate unit of tycoon Andrew L. Tan’s holding firm Alliance Global Group, Inc., which also has core investments in gaming through Travellers International Hotel Group, Inc., liquor through Emperador, Inc., and quick service restaurants through Golden Arches Development Corp. — Arra B. Francia

Peso may weaken on mixed data

THE PESO may weaken against the dollar this week on the back of mixed US economic data, hawkish remarks from the US Federal Reserve and the upcoming release of January Philippine inflation data.

On Friday, the peso moved sideways against the greenback to close at P50.84 as President Donald J. Trump said the US currency “is going to get stronger and stronger,” in contradiction to the statement of US Treasury Secretary Steven T. Mnuchin who said a weak dollar is “good for us.”

“The dollar might move closer to the P51 level this week, despite a string of likely mixed US economic data amid expectations of more hawkish affirmations from the US Federal Reserve (Fed) during its monetary policy meeting,” Guian Angelo S. Dumalagan, market economist of Land Bank of the Philippines, said in an e-mail.

Mr. Dumalagan said the dollar will strengthen in the first four days of the week on the back of “firm” US data on PCE inflation and ADP employment and hawkish hints from the monetary board meeting by the Fed.

Incumbent Fed Chair Janet L. Yellen will leave her post on Feb. 3 to be replaced by Jerome H. Powell.

Although Mr. Powell was considered to be “dovish,” analysts expect that the changing economic conditions, such as the massive tax cuts from Mr. Trump, weaker dollar and stronger global growth among others, will prompt the members of the Federal Open Market Committee to be more hawkish.

“[T]he change in leadership at the US central bank might not cause much volatility due to widespread expectations of US policy continuity under the helm of incoming Fed Chair Powell,” Mr. Dumalagan said.

“A robust growth report from the currency bloc (Euro area) could potentially weaken the dollar against the euro and a basket of other currencies, including the peso, by increasing speculations of more tightening moves from the European Central Bank this year,” Mr. Dumalagan added.

For Ruben Carlo O. Asuncion, chief economist of UnionBank of the Philippines, dollar-peso trading will be driven by expectations on Philippine inflation data.

“I’m expecting inflation to [be slightly] high, but that’s because of the impact of the TRAIN,” Mr. Asuncion said, referring to the Tax Reform on Acceleration and Inclusion act, which provided bigger take-home pays for most Filipinos, while imposing heftier tax on commodities such as fuel, tobacco and sweetened beverages.

For this week, Mr. Asuncion sees the peso moving between P50.60 and P51, while Mr. Dumalagan gave a wider range of P50.60 to P50.30.

“The factors that could reverse the dollar’s forecasted upward bias include unexpected dovish remarks from US policy makers, softer-than-expected US ADP employment data, and increased US political noise,” Mr. Dumalagan noted. — KANV

GlobalPort Batang Pier zap Meralco Bolts by 19

By Michael Angelo S. Murillo
Senior Reporter

THE GlobalPort Batang Pier got back in the win column of the PBA Philippine Cup, defeating the Meralco Bolts, 107-88, in the matinee match yesterday at the Smart Araneta Coliseum.

Anchored on a balanced attack, the Batang Pier proved to be handful to the Bolts when they found their collective groove to bounce back from a loss in their previous game and improve to 3-3 midway into the season-opening tournament of the Philippine Basketball Association (PBA).

Towed by guard Stanley Pringle and former Meralco player Kelly Nabong, GlobalPort got it going early.

Messrs. Pringle and Nabong combined for 17 points and provided much hustle on the defensive end to propel their team to a 29-16 advantage at the end of the first 12 minutes.

The Batang Pier continued to sustain the momentum to start the second canto, outscoring the Bolts, 9-2, a fourth into the frame to extend their lead to 20 points, 38-18.

Meralco began to chip away on the lead of GlobalPort, coming to within 14 points, 42-28, with four minutes to go in the half.

When the battle smoke cleared in the first fold of the contest, the Bolts were able to trim their deficit to 11 points, 48-37.

Meralco tried to claim further ground as the third canto started but GlobalPort would stay on top of things.

The two teams fought to a 63-45 count, with the Batang Pier still ahead, at the six-minute mark.

GlobalPort stayed unflappable the rest of the quarter, building an 82-60 gap by the end of the third frame.

Having established a solid leverage in the game, the Batang Pier only grew confident in the payoff quarter.

They held a 29-point lead, 94-65, with 7:19 remaining and rolled over their opponents from there.

Jonathan Grey, another ex-Meralco player, led the even-keel thrust of GlobalPort with 24 points on top of five boards and two assists.

Sean Anthony had 18 points while Mr. Nabong had 17 points and 17 rebounds.

Mr. Pringle also had 17 points, five rebounds and four assists.

Reynel Hugnatan and Chris Newsome paced Meralco with 17 points each with Mike Tolomia adding 15 points.

“We really worked hard to sustain our good start, something we had a problem in our previous games. Our defense stepped up in this game,” said winning coach Pido Jarencio after the game.

“The players are showing great commitment and it is something we welcome especially since Terrence [Romeo] is still not around,” he added.

GlobalPort next takes on the Alaska Aces on Sunday, Feb. 4 while Meralco (2-4) plays the Rain or Shine Elasto Painters on Friday, Feb. 2.

Sweet Caroline

MELBOURNE — Caroline Wozniacki said she stopped herself thinking about what it would feel like to win a first grand slam title in case Saturday’s Australian Open final against Simona Halep did not go to plan.

Wozniacki finally added her name to the grand slam winners’ list at the 43rd time of asking after outlasting Halep 7-6(2) 3-6 6-4 on a sweltering Rod Laver Arena, becoming the first Dane to win one of tennis’s four biggest prizes.

Not only that but her triumph lifted her back to the top of the world rankings for the first time in six years — a period during which life had thrown her several “curve balls.”

“I didn’t want to think too much about how it would feel to win before the match because that’s like in case I don’t, it’s going to hurt even more,” the 27-year-old, less than two years after being ranked in the 70s after a career slide, told reporters with the Daphne Akhurst Memorial Cup at her side.

“But now I’m just so happy to have the trophy. As athletes we don’t enjoy the moments very long and I want to enjoy this one because it’s very special.

“I’m a grand slam champion, and that still seems crazy to say, but I’m also back to number one.

“I couldn’t have scripted it any better.”

After two US Open final defeats, many thought Wozniacki might never get another chance to win a grand slam, let alone return to the top of the WTA standings.

“Lots of ups and downs. But one thing that remained consistent was my fighting spirit and never giving up,” Wozniacki, who now holds the record for length of time between stints at world number one, said.

“Life sometimes throws curve balls at you and you have to deal with it. Tonight is such a special moment.”

The fact that she could share that moment with her father Piotr, her coach since she was seven, added to the occasion.

“My dad has been there from the start and we took the journey together,” she said.

“To have him in my corner on a night like tonight, holding the trophy and sharing this means a lot.”

Wozniacki trailed 4-3 in a see-sawing final set in which both players seemed close to exhaustion.

But she found some last reserves of energy to reel off three games and leave Halep sucking up a third grand slam final loss.

“I obviously feel very sad for her, but at the same time I’m very happy for myself,” she said. — Reuters

2 SC justices back in House to tackle charges vs Sereno

THE HOUSE impeachment committee resumes its inquiry today, Jan. 29, to hear the charges raised against Chief Justice Ma. Lourdes P.A. Sereno, with two of her colleagues in the Supreme Court (SC) as well as associate justices of the Sandiganbayan scheduled to take part in the proceedings.

Oriental Mindoro Representative Reynaldo V. Umali, committee chairman, said the committee is set to “close” its deliberation on the creation of the Regional Court Administration Office in Region 7 (RCAO-7), one of several points of contention in the allegations raised against Ms. Sereno.

Associate Justice Teresita J. Leonardo-De Castro, Court Administrator Jose Midas P. Marquez, and former Clerk of Court Enriqueta E. Vidal are expected to shed light on that matter, as is Sandiganbayan first division Associate Justice Geraldine Faith A. Econg.

The procurement of the 2017 Toyota Land Cruiser, on the other hand, will be discussed with Associate Justice Mariano C. del Castillo, Clerk of Court Felipa B. Anama, audit team leader Meriam U. Ansama, and Michael B. Ocampo of the Office of the Chief Justice and Ma. Lourdes E.B. Oliveros, who heads Ms. Sereno’s staff. Also scheduled to take part in that discussion is Sandiganbayan seventh division Associate Justice Zaldy V. Trespeses.

The same resource persons are also expected to touch on the subject of hiring Helen P. Macasaet, the information-technology consultant who was allegedly given excessive compensation for her services. Also scheduled to take part in that discussion are Deputy Court Administrator Raul B. Villanueva, Assistant Court Administrator Regina M. Ignacio, Management Information Systems Office (MISO) acting chief Carlos N. Garay, and Ms. Macasaet, who had been invited to Monday’s proceedings.

Other topics for discussion include allegations of manipulation in the Judicial and Bar Council (JBC); temporary restraining order being questioned in connection with a case between the Senior Citizens party-list and the Commission on Elections; Ms. Sereno’s financial statements; and her allegedly luxurious travels.

Mr. Umali said his committee can finish its deliberations by the end of February. “We think we will make it… Kasi konti na lang naman ’yung (Because there are only few) matters that we need to study,” he said in a phone interview.

As for the criminal case filed by impeachment complainant Lorenzo G. Gadon against Ms. Sereno last Friday, Jan. 26, Mr. Umali said: “That’s a separate issue… Sa ’min wala naman ’yon kasi (This has no bearing on our work because) whether or not mag-file ng kaso (a case is filed), at least an investigation on the matter can be conducted officially. Kasi kami naman (Because on our part), we’re just building the case and we’re not doing any investigation, big, on that. Kaya ’yung amin, allegation lang kaso, hindi siya sumasagot. Baka dito mapwersa na siyang sumagot (So what we are just tackling are allegations, but she is not answering. Maybe this time she will be compelled to answer).” — Minde Nyl R. dela Cruz

Roque cries ‘fake news’ on remarks on Benham Rise

By Arjay L. Balinbin

PRESIDENTIAL SPOKESPERSON Herminio Harry L. Roque, Jr. on Sunday said recent statements attributed to him regarding sovereignty issues over Benham Rise are “fake news.”

“Finake news po ako (I’m a victim of fake news),” Mr. Roque told reporters in a televised press conference in Iloilo City on Jan. 28, when asked to clarify his previous remarks regarding the underwater shelf northeast of the Philippine archipelago.

“Alam mo masama ang loob ko kasi mga prestigious daw sila, pero alam mo in journalism ang unang unang tenet po talaga ay dedication to the truth, so pinost ko na po ang video para kayo na ang maghusga. Nagpepyesta lang sila dahil marami pong nagpapapansin lalo na yung mga academic na mga mediocre,” the spokesman added.

(You know I feel bad because they said they are prestigious [news organizations]. But, you know, the first tenet in journalism is dedication to the truth, so I posted the video [of the press briefing] on Facebook for you to judge. They are feasting on it, especially those mediocre academicians who only want public attention.)

“Earlier, I responded, and I quote, ‘Because only China has qualified so far. There are other applicants, unfortunately they did not qualify according to fixed guidelines already set by the government.’ It is obvious that my statement pertains to China and not the Philippines,” he said.

On the other hand, there were reports that said Mr. Roque was referring to Filipinos.

“May dalawa po kasing tanong kung bakit binigyan ng license ang China para magconduct ng scientific study. ’Yun po ang sinagot ko kung bakit binigyan ng lisensya ang Tsina, kasi ang mga dayuhan kailangan ng lisensya dahil ang Benham Rise po ay kaparte ng continental shelf at tanging ang mga Pilipino lang ang may karapatan na mangalap ng tanging yaman at magconduct ng mga scientific researches. So ang sinabi ko ang mga Pilipino ay di kailangan ng lisensya, ang sinabi ko ang Pilipino di kailangan ng lisenya dahil meron po tayong sovereign right,” Mr. Roque explained.

(There were two questions as to why China was given a license to conduct scientific research in the area, and I answered why China was given a license. Foreigners need a license on Benham Rise because it is part of the Philippines’ continental shelf. Only Filipinos have the right to explore and conduct scientific studies in the area. What I said was that Filipinos do not need a license because we have sovereign rights over Benham Rise.)

In a Facebook post, University of the Philippines’ (UP) Institute for Maritime Affairs and Law of the Sea director Jay L. Batongbacal said: “Pres. Spox Roque’s claim that Filipinos cannot afford to explore Benham Rise, that “no one can do it,” that the Philippines “needs China” to do it, and “only China qualifies” is completely wrong, based on ignorance, a serious disservice to Filipino scientists in particular and the Filipino people in general, and an over-exaggeration of China’s potential role in Philippine ocean sciences.”

NEDA seeks more info on Bulacan airport plans

THE PROPOSED AIRPORT in Bulacan could be “viable,” but the proponent San Miguel Corp.’s assumptions for its development will determine the project’s ultimate rate of return, the government’s chief economic planner said.

Socioeconomic Planning Secretary Ernesto M. Pernia said that the P700-billion unsolicited proposal for a 2,500-hectare airport development has yet to be fully reviewed ahead of its presentation to the Cabinet-level Investment Coordination Committee (ICC).

“There are questions on the financial internal rate of return, what is the basis — does it include only the income of the airport, or also extra income outside the airport. Because that area is a large area… I think the owner is intending to make that not only an airport, but also an aerotropolis, a city with an airport,” Mr. Pernia told reporters on Friday.

“It seems viable. The economic rate of return is possible, although not by much. Just barely,” he added.

Mr. Pernia said that although the project has already gone through an ICC technical evaluation, NEDA would require “more definite information” on the developer’s assumptions for Cabinet-level deliberation.

“The main criteria for economic evaluation, is that it passes the hurdle rate. But we don’t just look at the economic rate of return, but we look at the financial rate of return because this is unsolicited,” he said.

When approved by the Cabinet Committee, the proposal will be submitted to the NEDA Board for the President’s approval.

The project will then be subject to a Swiss challenge, under which other parties submit rival bids to top the original proposal. San Miguel Corp. is then entitled to match any bid.

Finance Secretary Carlos G. Dominguez III has said that Ninoy Aquino International Airport (NAIA) will remain the main international gateway even if the San Miguel airport goes ahead.

“At this point there are no plans to shut NAIA down,” he said.

San Miguel Corp. has expressed plans to replace NAIA as the country’s main airport, but Mr. Dominguez said: “that was the original idea, but it seems that they have withdrawn that particular condition.”

“A lot of big cities have more than one airport around it,” he added.

The National Economic and Development Authority’s (NEDA) Cabinet Committee ICC approved on Friday the Subic-Clark railway, along with a larger budget for the Mega Manila Subway.

“The ICC approved today the Subic-Clark railway project that will be implemented by DoTr (Department of Transportation). The cost is roughly P50 billion. And that will be part of the railway network connected, hopefully when it’s all completed, all the ports will be connected by railway. From Batangas to Subic to Metro Manila,” Mr. Dominguez said.

“The second one is they approved also the increase in the estimated cost of the MM subway project, they feel that there will be a P1.3 billion additional cost that have not been originally estimated and this should cover any potential damage to underground wiring,” Mr. Dominguez said.

The Subic-Clark railway is funded by Chinese Official Development Assistance (ODA) while the Mega Manila Subway is bankrolled by the Japanese.

Mr. Dominguez also said that he suggested that the Department of Transportation — the implementing agency for the subway — consider a business model where stations located on government property can lease out retail space.

“I also suggested to the DoTr that they give us a map of where the underground stations will be. [If] they are government property, we can develop underground malls,” he said.

The subway will run from Mindanao Avenue in Quezon City to NAIA. Mr. Dominguez said that government-owned sites along the line could include the Bureau of Internal Revenue and the Social Security System headquarters in Quezon City, as well as the Department of Energy in Taguig City.

“I don’t know frankly if it will pass there, but those are the properties that we were thinking if it passes underneath, those they will be potential for additional government revenue for joint venture development.” — Elijah Joseph C. Tubayan

Brazilian Souza extends dominance over American Brunson at UFC Charlotte

By Michael Angelo S. Murillo
Senior Reporter

TWICE they have met in a mixed martial arts fight and two times Brazilian Jacaré Souza emerged on top of American Derek Brunson after the former won quick at the Ultimate Fighting Championship in Charlotte, North Carolina, yesterday.

UFC logo

Facing anew after six years since their first encounter, Mr. Souza repeated over Mr. Brunson, concluding the fight at the 3:50 mark of the opening round with a technical knockout on a solid head kick and punches after.

The two fighters went back and forth early with both of them landing some solid hits.

Mr. Souza though would change the direction of the match after he connected on a high right head kick that immediately sent Mr. Brunson down the mat.

The Brazilian wasted no time thereafter to go for the closeout, unleashing a barrage of punches on his opponent before the referee stopped the fight.

The win was reminiscent of the fast victory of Mr. Souza over Mr. Brunson in their August 2012 fight over at Strikeforce where he stopped the American by knockout (punches) just 41 seconds into the first round.

“I feel great. It’s nice to be back to winning and into the game. Four months ago I was in the hospital and now I here,” said Mr. Souza, who improved to 25-5 after the win.

Mr. Brunson, meanwhile, dropped to six losses with 18 wins.

In other fights at “UFC on Fox: Jacare vs. Brunson 2, featherweight Andre Fili won over Dennis Bermudez by split decision (29-28, 27-30 and 29-28), lightweight Gregor Gillespie beat Jordan Rinaldi by technical knockout (punches) in the first round, and welterweight Drew Dober defeated Frank Camacho by unanimous decision (29-28, 29-28 and 30-27).

Next for the UFC is “UFC Fight Night 125” on Feb. 4 (Manila time) in Belem, Brazil that will be headlined by the middleweight match between Lyoto Machida and Eryk Anders.

In the Philippines, Cignal TV, the country’s foremost direct-to-home (DTH) company, is the home of the UFC after the two groups agreed to an extensive deal that will see the UFC beamed on various platforms.

Hometown bet Team Lakay bounces back

AFTER having a rough ending to 2017, Team Lakay of Baguio City got its 2018 campaign in ONE Championship to a rousing start, going 3-1 in the promotion’s Manila event last Friday, highlighted by another title falling into its hands.

Fielding in four fighters at “ONE: Global Superheroes” at the Mall of Asia Arena, ONE’s first event in the country for the new year, Team Lakay had three of them winning, with flyweight Geje “Gravity” Eustaquio latching on to the interim ONE flyweight title by way of a convincing unanimous decision victory over former champion Kairat Akhmetov of Kazakhstan.

The team outcome was an improvement to the 3-2 that Team Lakay had in ONE’s last event in the Philippines in November that saw veteran Eduard “Landslide” Folayang lose his lightweight title to now-two division champion Martin Nguyen of Australia and Danny “The King” Kingad losing in his title shot for the flyweight belt against champion Adriano Moraes of Brazil.

Bouncing back that way they did to start 2018, Team Lakay coach Mark Sangiao said they are very happy and satisfied for it showed the “reassessment” they did following the tough ending to last year bore fruit.

“Despite the success we had for much of last year, I just felt that we lost grip on some things and we just went back to the basics and work on our weaknesses. And that effort showed tonight,” said Mr. Sangiao in the post-event press conference.

Apart from Mr. Eustaquio, also victorious from the Baguio team were strawweight Joshua “The Passion” Pacio and Edward “The Ferocious” Kelly.

Falling on the raw side, however, was women’s atomweight April Osenio.

In winning the interim flyweight title, 28-year-old Eustaquio (10-6) showed superior striking that rendered the wrestling abilities of Mr. Akhmetov a non-factor throughout the five-round joust.

Joshua Pacio
Strawweight Joshua Pacio (in red) was one of three fighters from Team Lakay that won at “ONE: Global Superheroes.” — ALVIN S. GO

Landing crisp and clean combinations, Mr. Eustaquio left hardly any doubt who the winner was as all three judges went his way in the end.

The win was a payback to the split decision loss the Filipino absorbed from the Kazakh previously while setting him up for a unification fight with reigning champion Moraes possibly within the year.

“The feeling is unbelievable. Kuya Eduard had this. [Then featherweight] Honorio [Banario] had it. We are proud and I’m happy. I cannot explain the feeling. We have another title here in the Philippines,” said Mr. Eustaquio after his well-earned victory.

“This belt is not mine to take, it’s ours… I am proud to represent this flag all throughout the world. Here is your world champion from the Philippines. Adriano [Moraes] I know you’re there. I got a belt! Give me one more try and I hope to give you a better challenge this time,” he added.

Mr. Pacio (11-2), meanwhile, made it back-to-back victories in ONE after making short work of China’s Lan Ming Qiang with a first-round submission win by way of rear-naked choke.

On the part of Mr. Kelly (10-4), he devastatingly sent Cambodian Meas Meul crashing, knocking out the latter in the opening round with a quick three-punch combination and a solid high kick.

Ms. Osenio (2-4), meanwhile, saw her slide continue, losing her third straight fight after being knocked out by compatriot Jomary Torres in the first round.

Next event for ONE Championship is “Quest for Gold” in Myanmar on Feb. 26. — Michael Angelo S. Murillo

1...12,60612,60712,608...13,730Page 12,607 of 13,730
© 2024 BusinessWorld Publishing.
All rights reserved.
Read our privacy guidelines
Facebook Instagram Linkedin Twitter Youtube