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MPIC targets to acquire at least 2 more logistics companies

INFRASTRUCTURE conglomerate Metro Pacific Investments Corp. (MPIC) is strengthening its logistics business with plans to acquire two to three logistics firms in the coming years.

“Two or three siguro (maybe), around the burner. (This year), most likely one siguro (maybe),” MPIC Chairman Manuel V. Pangilinan told reporters after the press launch for PayMaya Philippines’ partnership with SM Store in SM Megamall on Wednesday. 

MPIC earlier said it will be spending P6 billion for its logistics business in 2018, out of the P100-billion capital expenditures for the entire conglomerate this year.

Mr. Pangilinan said the budget for acquisitions would depend on the size of the target logistics company.

“There’s no specific budget, they range in sizes. Huwag naman masyadong maliit (But not too small). So no specific requirements,” Mr. Pangilinan said. 

MPIC previously said it wants logistics to be a major contributor to its bottom line. Currently, the company’s power segment is the largest contributor to earnings at 52%, followed by toll roads which account for 23%, water at 15%, while 5% is split between hospital, logistics, and other businesses.

The company entered the logistics industry in 2016, with the acquisition of Basic Logistics Corp.’s assets at P2 billion. The assets were then transferred to Metro Pacific Movers, Inc., a company formed to handle investments related to logistics, shipping, freight forwarding, and e-commerce.

The listed firm followed this transaction with the acquisition of Ace Logistics, Inc. through its subsidiary PremierLogistics, Inc. 

Ace was purchased for P280 million in January 2017. The company has core interests in logistics, including warehousing, courier express, parcel delivery, e-commerce delivery, trucking, freight forwarding, customs brokerage, and domestic shipping. 

It has since acquired other logistics firms, namely A1 Move Logistics, Inc., Philflash Logistics, Inc., and BasicLog Trading and Marketing Enterprises.

Shares in MPIC added seven centavos or 1.04% to close at P6.80 apiece at the Philippine Stock Exchange on Thursday.

MPIC is one of three Philippine subsidiaries of Hong Kong-based First Pacific Co. Ltd., the others being PLDT, Inc. and Philex Mining Corp. Hastings Holdings, Inc. — a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc. — maintains interest in BusinessWorld through the Philippine Star Group, which it controls. — Arra B. Francia

Third Barclays trader faces US charges in market manipulation case

THE former head of New York foreign exchange trading at Barclays Plc’s investment bank became the lender’s third trader to face US charges related to market manipulation, as prosecutors pursue officials responsible for misconduct that has led to $10 billion in fines.

Robert Bogucki, 45, faces seven charges over his role in a multimillion-dollar front-running scam that defrauded Hewlett-Packard Co., the US Justice Department said Tuesday. The case relates to the manipulation of foreign-exchange options before HP’s $11 billion takeover of Autonomy Corp. in 2011, according to prosecutors.

“Bogucki and others allegedly not only betrayed his client’s confidences, but also risked undermining public trust in the foreign-exchange options market,” Assistant US Attorney John P. Cronan said in a statement. We “remain committed to protecting American interests by investigating and prosecuting sophisticated schemes,” he said.

US authorities have been pursuing criminal prosecutions following a global crackdown on currency (FX) rigging that saw banks pay more than $10 billion in penalties. At least eight traders have been charged over behavior uncovered in the scandal, including three from JPMorgan Chase & Co., Barclays and Citigroup Inc. They’re known as the “Cartel,” and are scheduled to go on trial in June.

The other Barclays traders, Chris Ashton and Jason Katz, were charged by the US in separate price fixing cases. In October, former HSBC Holdings Plc currency trader Mark Johnson was found guilty of fraud for front-running a $3.5 billion client order.

Barclays was Hewlett-Packard’s financial adviser on the Autonomy transaction. Bogucki, who appeared in federal court in Brooklyn, New York, on Wednesday, was released on $500,000 bond and ordered to appear in federal court in San Jose, California. No date was set for that appearance. He’s charged with one count of conspiracy to commit wire fraud and six counts of wire fraud.

“Mr. Bogucki is innocent,” his lawyer, Sean Hecker, said in a statement. “He tried hard to do right by HP while following the rules that governed market makers in foreign exchange for many years. This action is nothing more than an unfair and misguided attempt to rewrite those long-standing rules.”

Bogucki allegedly misused confidential information Hewlett-Packard provided Barclays, which hired the bank to carry out a foreign-exchange transaction relating to its planned UK acquisition of Autonomy, according to the indictment. The transaction required the sale of 6 billion pounds ($8.3 billion) of options in September 2011, the Justice Department said.

While Bogucki promised HP the transaction “will be kept very quiet” and claimed he was “not touching the market,” prosecutors say he instead declared during one telephone call, “we need to figure out what to do with this information,” then directed options trading to try to lower the price of volatility — a metric that affects the value of currency options — to the benefit of Barclays at Hewlett-Packard’s expense.

In electronic chats with Bogucki, one Barclays trader said he and other traders would “bash the sh-t out of” and “spank the market” to depress the price of volatility, according to the indictment.

Bogucki directed Barclays FX traders to further depress the price for currency options but cautioned them they needed to be discreet to avoid the attention of senior Barclays executives, saying, “if it gets back to HP by some loose lipped market monger that we’re selling,” he warned they’d be in trouble — using profanities to emphasize the point.

Spokeswomen for Barclays and HP declined to comment.

Barclays was among four global banks that were ordered to pay a combined $2.5 billion to the Justice Department in 2015 after admitting to rigging currency rates.  — Bloomberg

Mediaquest may consolidate online news publications

MEDIAQUEST Holdings, Inc. is eyeing the consolidation of its online news publications, which may see online news site InterAksyon.com continue operations.

“MediaQuest is studying the possibility of continuing InterAksyon under the PhilStar Global Group and thereby consolidate all our online news publications under the said group. This plan will also apply to BusinessWorld Online,” Ray C. Espinosa, president of MediaQuest, said in a statement on Thursday.

The PLDT, Inc. Beneficial Trust Fund subsidiary issued the statement after news that Interaksyon.com, the online news Web site of TV5 Network, Inc., is scheduled to be shut down in March.

“Accordingly, Mediaquest is working with the Philstar Global group to determine the feasibility of implementing this plan in a cost efficient manner,” Mr. Espinosa said.

Hastings Holdings, Inc., a MediaQuest unit, has a majority stake in BusinessWorld through the Philippine Star Group, which it controls.

Roby Alampay, editor-in-chief of InterAksyon, said in an interview the Web site’s closure would affect 20 regular employees. The Web site had also let go of contractual employees last year.

TV5 last year shifted its strategy to focus on sports television. It partnered with US-based ESPN, Inc. to focus on and widen its sports programming, and rebranded its Sports5 segment into ESPN5. — P.P.C. Marcelo

Peso continues to drop

THE PESO continued to decline against the dollar on Thursday due to strong dollar demand  following the release of data showing a wider Philippine trade deficit.

The local currency ended yesterday’s session at P50.80 versus the greenback, nine-and-a-half centavos weaker than its P50.705-per-dollar close on Wednesday.

This is the peso’s weakest close in nearly two months or since it closed at P50.95 per dollar last Nov. 17.

The peso opened yesterday’s session slightly weaker at P50.73 versus the dollar, while its intraday high stood at P50.68. The peso’s worst showing, meanwhile, landed at P50.84 against the greenback.

Dollars traded slid at $749.4 million from the $930.65 million that changed hands in the previous session.

A trader interviewed yesterday said market players were buying a lot of dollars driven by the trade balance data for November, where imports were stronger than the exports.

Data from the Philippine Statistics Authority released last week showed the country’s trade deficit hit a new record high in November at $3.78 billion, higher than the $2.81 billion booked in the comparable year-ago period.

“We saw strong dollar demand due to the trade deficit, imports are stronger due to the Build, Build, Build,” the trader said, referring to the government’s infrastructure program.

The trader added that the strong dollar was also supported by weak remittances from overseas Filipinos after the holiday season, as well as the better dollar-peso trading offshore, prompting onshore trading to follow suit.

Asked who were buying more dollars, a second trader said: “We haven’t seen much, but a lot of banks are buying. No clue as to who [were] buying.”

Ruben Carlo O. Asuncion, UnionBank of the Philippines chief economist, said yesterday’s trading was mainly driven by “positive sentiment on the US economy.”

For today, the first trader said the peso will move between P50.75 and P50.95, while the second trader gave a wider range of P50.65 to P51. — KANV

Merging the physical and digital experience of fun

By Michelle Anne P. Soliman

A little boy busies himself with coloring in a sketch of a lion — bronze crayon for its mane and brown for its body. Upon finishing, he stood up and enthusiastically asked for a staffer’s assistance to scan his work. In just about five seconds, the lion sketch came alive on a flat screen, a view of a forest in the background. The lion walked and sat on the grass together with other animated sketches. The little boy jumped when he saw his work. “There’s my lion!” he called out, fulfilled.

Robinsons Land Corp. (RLC) has introduced PLAYLAB, the country’s first “permanent, indoor, interactive, digital playground” showcasing physical and digital-based playing aids, in its mall in Cebu. The digital playground is offered to complement its family-centered malls.

“PLAYLAB offers Cebuano families a new unique bonding destination that is safe, wholesome, fun and photogenic,” said RLC Regional Operating Manager Darwin Renolayan told visiting media during his presentation at the PLAYLAB Cebu on Jan. 11.

The digital playground (its soft opening was on Dec. 3, 2017) is meant for children from three to 10 years old. The dark 850-sqm playground is illuminated by the multi-colored walls of motion sensor-dependent screens. Artificial turf gives it a playground feel. It is equipped with night vision security cameras. A maximum of 170 children can play there at one time. 

“The technology is available abroad. It’s just a matter of choosing which ones are appropriate for the Philippine market. For Cebu, those that will appeal to the Cebuano family.” Mr. Renolayan said, adding that the software was developed in collaboration with media artists from various countries including Russia, Canada, and the Philippines. 

THE DIGITAL PLAYGROUND
There are 14 playground attractions that stimulate agility and creativity, give a sense of fulfillment, and promote education and interaction.

Children have fun with the digital interactive games at the playground.

The children are welcomed at the entrance by Tap ‘n Glow — a touch-sensitive light module which changes color upon a light touch or tap. Quantum Space enables the young guests to create fleeting and moving masterpieces — fire, meteor showers, and on-screen color changes — by standing, walking, moving around the installation. The musically inclined will enjoy the Music Wall as it allows them to interact with others while creating musical patterns by touching musical instruments to produce sound. 

A child’s creativity is stimulated in Tangram where random shapes are navigated on a touch-screen desk to create a rocket ship. Once the shapes are in place, pressing the “launch” button will transfer the rocket ship from the desk to the big screen. In the Butterfly Garden, children and adults can decorate their own digital butterflies. Pressing the “Fly” button allows the new creation to navigate among other butterflies projected on the big screen. 

At the Sand Box, imagination is transformed into reality while creating objects from kinetic sand. In Light Brite, a table full of opaque multi-colored sticks allows children to create masterpieces by forming the sticks into different patterns and shapes.

The Save the Reef station promotes awareness of environmental conservation. The children can throw soft ball pillow at the images of trash that appear on the screen — the floating trash explodes into bubbles once hit. 

Active children can put on a pair of 3D glasses and race through a battleground and avoid hitting its walls in Head Rush. Room Racers allows players to engage in a digital car race with the use of wireless game controllers. 

A friendly giraffe talks with the kids as they figure out their height in the Growth Chart.

The World of Zodiacs’ screen is equipped with body recognition sensors that give the visitors a makeover into an animal from the Chinese zodiac sign. To change character, just jump. Your body assumes the figure of a different animal upon landing. 

More time is spent at the Live Forest station where the kids can see their colored animal sketch come to life. Children may choose from a variety of animals to color. Once done, the scanning board transfers the colored sketch which is animated into the forest projected onscreen.

Kids are sure to go through many rounds of the Poppin’ Pond as images of shapes on the slide’s surface explode when the child slides down.

Mr. Renolayan said that RLC plans to open digital playgrounds to prime Robinsons malls in Manila, each of which will have 14 to 18 attractions that differ from those in the Cebu branch. PLAYLABs will open soon in Robinsons Galleria, Robinsons Magnolia, and Robinsons Galleria South in San Pedro.

When asked about the expected reception, Mr. Renolayan told BusinessWorld, “We want to see our customers happily exhausted after playing at PLAYLAB.”

PLAYLAB is located at The Greens, Level 1 of Robinsons Galleria Cebu, General Maxilom Ave cor. Osmena Blvd., Brgy. Tejero, Cebu City, Cebu. It costs P200 per head for two hours on weekdays (and P100 for every succeeding hour or fraction thereof) and P250 per head for two hours on weekends (P100 per every succeeding hour). Socks — which are required — are sold at P50. Children over six years of age may play without a guardian; those below that age must be accompanied by an adult (16 years and above). Group and schools are given a 20% discount for minimum of 40 people if they make reservations. Operating hours are from 10 a.m. to 9 p.m. daily.

SWS: Duterte gov’t gets record-high +70

SATISFACTION WITH President Rodrigo R. Duterte’s administration reached a record-high “excellent” +70 in the fourth-quarter survey last year of the Social Weather Stations (SWS).

According to the Fourth Quarter 2017 Social Weather Survey, 79% of adult Filipinos were satisfied with the administration’s performance and 9% were dissatisfied yielding the +70 that SWS ranked as “excellent.”

Net Satisfaction

(The SWS terminology for net satisfaction ratings is as follows: +70 and above, “excellent”; +50 to +69, “very good”; +30 to +49, “good”; +10 to +29, “moderate”; +9 to –9, “neutral”; –10 to –29, “poor”; –30 to –49, “bad”; –50 to –69, “very bad”; –70 and below, “execrable.”)

The excellent rating is a 12-point rise and one grade up from the “very good” +58 (71% satisfied, 13% dissatisfied) in September last year.

“This surpassed the previous record of very good +66 achieved in June 2013 (Noynoy Aquino administration), and in September 2016 and March 2017 (Duterte administration),” SWS noted.

The 12-point gain in net satisfaction was due to new record-high net satisfaction scores in Mindanao, the National Capital Region (NCR), and Balance Luzon, combined with a steady score in the Visayas.

NCR had the biggest leap in net satisfaction by 20 points, from +51 in September last year to +71 in December. Net satisfaction also jumped 15 points in Balance Luzon to +67, and 13 points in Mindanao to +87. It stayed very good in the Visayas at +57 in December, similar to the net rating in September.

By class, net satisfaction also leaped 20 points in Class E to +66 in December. Net satisfaction rose 11 points in class D (the masa) to a new record-high +71, and stayed very good in classes ABC at +62, two points higher than in September.

Double-digit increases in the National Administration’s net satisfaction rating occurred among men, among the 35-year-olds and above, and among non-elementary school graduates, elementary school graduates, and college graduates.

SWS also listed 18 performance subjects — collectively a “Governance Report Card” — by which the Duterte administration was rated.

The administration’s net rating was “very good” in fighting terrorism (+67); helping the poor (+66); building and maintenance of public works like roads and bridges (+59); providing jobs (+50); and foreign relations (+55) — a controversial area in the context of Mr. Duterte’s pivot toward China.

The administration was rated “good” in defending the country’s territorial rights (+46); reconciling with Muslim rebels (+48); telling the truth to the people (+47); protecting human rights (+45); reconciling with communist rebels (+43); fighting crimes (+43); eradicating graft and corruption (+42); ensuring an efficient public transportation system (+42); ensuring that no family will ever be hungry (+33); solving the problem of extrajudicial killings or EJK (+30); and ensuring that oil companies do not take advantage of oil prices (+30).

The administration was rated “moderate” in fighting inflation (+24) and resolving the traffic problem (+23).

The survey was conducted from Dec. 8-16, 2017, using face-to-face interviews of 1,200 adults (18 years old and above) nationwide: 300 each in Metro Manila, Balance Luzon, Visayas, and Mindanao (sampling error margins of ±3% for national percentages, and ±6% each for Metro Manila, Balance Luzon, Visayas, and Mindanao).

Overseas Filipino Bank launched

By Elijah Joseph C. Tubayan
Reporter

THE OVERSEAS Filipino Bank (OFB) was launched yesterday — in fulfillment of a campaign promise by President Rodrigo R. Duterte.

“Establishing the OFB fulfills President Duterte’s campaign promise to Filipinos working abroad in order to support their dependents at home,” Finance Secretary Carlos G. Dominguez III said in a speech during the launching at the Liwasang Bonifacio in Manila. “It will help unlock investment opportunities and a wide array of financial products so that our overseas workers will be able to join the financial mainstream of our rising economy. No longer will our overseas workers be vulnerable to expensive remittance charges and investment scams.”

This comes about four months since Mr. Duterte directed through Executive Order No. 44 the transfer of Philippine Postal Bank (PostBank) shares from the Philippine Postal Corporation and the Bureau of the Treasury (BTr) to Land Bank of the Philippines (Landbank).

PostBank will perform functions of the Overseas Filipino Bank, now a Landbank subsidiary — an acquisition approved by the Philippine Competition Commission last week and the Monetary Board last December.

The lender is “dedicated to provide financial products and services tailored to the requirement of overseas Filipinos” and will focus on delivering “quality and efficient foreign remittance services,” a statement said.

The OFB would offer “15 banking products and services,” including peso ATM savings, time deposits, and checking accounts, loan products, investment products such as Unit Investment Trust Funds, payment services, and remittance services.

Beneficiaries can also invest in OFB’s preferred shares.

“The OFB is another step towards reshaping our economic progress to make it more inclusive. It will help fulfill our goal of shifting to an investment-driven economy. More important, our overseas workers would be able to invest in their country which they have helped transform into one of the fastest-growing economies in the region,” Mr. Dominguez said.

Landbank President Alex V. Buenaventura for his part said the bank’s first representative office would be located in Dubai, and the second one, in Bahrain.

Mr. Dominguez said Landbank officials would meet with diplomats posted in the Middle East and Europe “in the next few weeks,” and those in the Americas by midyear to discuss the bank’s rollout.

Mr. Dominguez added that the Department of Finance and Landbank, which he chairs, are also planning to secure licenses in other countries with large concentrations of overseas Filipinos so the lender can provide wider financial advisory services to beneficiaries.

Initially, the bank was planned to cater only to overseas Filipino workers (OFWs), but the DoF had proposed to provide services to all foreign-based Filipinos to make it more inclusive, in keeping with the government’s financial inclusion agenda.

“Through the Overseas Filipino Bank, we give back what is due to our kababayans abroad through a bank especially dedicated to servicing their banking and financing requirements,” said Mr. Duterte, who also attended the launching.

Beermen eye fourth win in a row vs NLEX

By Michael Angelo S. Murillo
Senior Reporter

THE defending champions San Miguel Beermen, having an immaculate start so far in the PBA Philippine Cup, go for their fourth straight win when they take on the NLEX Road Warriors today in the main game at the Cuneta Astrodome in Pasay City.

Getting steady performances from their starters, the Beermen have channeled the unstoppable to date and are looking to stay unscathed and solo on top of the standings with a victory over the suddenly skidding Road Warriors in their 7 p.m. encounter.

Leading the charge for San Miguel is reigning four-time Philippine Basketball Association (PBA) most valuable player June Mar Fajardo, who is averaging a team-high 23 points on top 6.67 rebounds and 2.3 blocks per ball game.

He is being aptly backed up by point guard Alex Cabagnot with averages of 20.7 points, 6.3 rebounds and 3.3 assists while Marcio Lassiter is adding 17.7 points and five rebounds per ball game.

Arwind Santos has been good for 12.3 points and 7.3 rebounds for the Beermen and Chris Ross is solid for 10 points and eight assists.

The latest of the victories of the Beermen came over TNT KaTropa, 88-76, in Iloilo on Jan. 13 where their veteran starting five took front and center anew.

Looking to stand in the way of the Beermen and a fourth win in a row are the Road Warriors (2-2), who have lost back-to-back after opening their campaign with two straight wins.

Rookie sensation Kiefer Ravena has been showing the way for NLEX with norms of 19.3 points, 7.3 assists, 3.5 rebounds and 2.5 steals either as a starter or coming off the bench.

Veteran JR Quiñahan has been good for 15.8 points and 8.8 rebounds while Larry Fonacier is chipping in 13.5 points.

Having lost their last two assignments though, NLEX knows that it must address what currently ails the team lest it find itself wasting a good start to the season-opening tournament.

“We’re a little concerned since we lost the last two games in similar fashion. We were not rebounding the way we should. So, I think that’s something we should fix before our next game,” NLEX coach Yeng Guiao said as he shared what he felt is doing it for them of late that has stymied their ability to compete better.

Meanwhile, playing in the 4:30 p.m. opener are the Blackwater Elite (2-2) and GlobalPort Batang Pier (1-2).

Blackwater is coming off a lost just last Wednesday against TNT, 92-83, while GlobalPort is fresh from beating the Rain or Shine Elasto Painters, 78-70, on Jan. 12.

BIR issues implementing rules for 4 tax reform categories

THE Bureau of Internal Revenue (BIR) issued on Thursday four revenue regulations to implement parts of the Tax Reform for Acceleration and Inclusion (TRAIN) law.

Finance Secretary Carlos G. Dominguez III signed on Jan. 11 Revenue Regulations (RR) 1, 3, 4, and 5, which covers new rules for the excise tax for minerals, tobacco, documentary stamp taxes, and the excise tax on automobiles, respectively.

RR 1-2018 states that coal produced under Coal Operating Contracts entered into by the government pursuant to Presidential Decree No. 972 as well as those exempted from excise tax on mineral products under other laws shall now be subject to the applicable rates above beginning Jan. 1, 2018.

This year, coal is charged a P50 excise tax per metric ton, before increasing to P100 in 2019, and P150 starting 2020.

Meanwhile, metallic and nonmetallic minerals and quarry resources extracted domestically shall be taxed at 4% based on the actual market value of the gross output at the time of removal. The rate is double the 2% in the previous tax code.

Imports will also be taxed at 4% based on the assessment of the Bureau of Customs as it determines tariff and customs duties net of excise tax and value-added tax. The rate also doubles the previous 2% rate.

Domestically extracted petroleum shall be taxed at 6% of the fair international market value on the first taxable sale. The rate rises from 3% previously.

RR 2-2018, which covers the new petroleum excise tax schedule, has yet to be signed by the Finance department.

RR 3-2018 meanwhile states that cigarettes packed either by hand or machine shall be levied P32.50 starting this year, P35 on July 1, 2018, P37.50 starting 2020, and P40 starting 2022.

RR 4-2018 increased the rates of the documentary stamp tax (DST) on the original issue of shares to P2 on each P200, or every fractional part thereof, of the par value of such shares of stock. The previous charge was P1.

The regulation also raised the respective DSTs on sales, certificates of profit, bank checks, debt instruments, acceptance bills of exchange, foreign bills of exchange, life insurance policies, policies on annuities and pre-need plans, certificates, warehouse receipts, tickets on authorized numbers games, bills of lading, proxies, powers of attorney, leases and other hiring agreements, mortgages, deeds of sale and charter parties.

RR-5 2018 states that vehicles with a net price less than P600,000 are subject to an excise tax of 4%, up  from 2% previously. The rate is 10% for those priced between P600,000 and P1 million, from 20% previously.

Vehicles with a net price of over P1 million but below P4 million will be taxed at 20%, down from the previous 40% rate for the price bracket between P1.1 million and P2.1 million. Vehicles priced over P4 million will be levied 50%, compared with the previous rate of 60% for vehicles worth more than P2.1 million.

Hybrid vehicles will only be taxed at half of the applicable excise rates within each price bracket, while purely electric vehicles shall be exempt, as are pick-ups.

BIR Commissioner Caesar R. Dulay said earlier that stakeholders should implement the adjusted rates provided by the TRAIN law event without the issuance of the respective revenue regulations.

Mr. Dulay said that he targets all regulations to be out by end-January.

Among those IRRs that have yet to be released include those covering the value-added tax, estate and donors taxes, excise taxes on cosmetic procedures, and the excise tax on sugar-sweetened beverages. — Elijah Joseph C. Tubayan

China research in PHL waters for the sake of science, Palace says

ALLOWING CHINA to do research in Philippine waters is in pursuit of science, Malacañang defended yesterday, Jan. 18.

“Alam ninyo po it’s a scientific research. So science is science. Science knows no nationalities, and the requirement is that Philippine scientists must also participate in the scientific exercise and that the result must be shared with Philippine authorities,” Presidential Spokesperson Herminio Harry L. Roque, Jr. said at a televised press briefing in Legazpi City, Albay.

On the other hand, Magdalo Party-list Representative Gary C. Alejano warned that China may have other intentions in its so-called research.

“Who has history of grabbing our territories, laying claims to 80% of our EEZ (exclusive economic zone), harassing our fishermen, and blocking our patrol vessels? It is the Chinese,” Mr. Alejano said in a statement.

China has been laying claim to most of the South China Sea, which is contested by several countries, including the Philippines, Vietnam, Brunei, Taiwan, and Malaysia.

Mr. Roque insisted that “the quest for truth is all important, it knows no nationalities and that’s why all countries that would want to conduct joint research with us in this extended continental shelf are welcome to do so.”

“We have in fact establish guidelines on which of this request can be approved,” the spokesman added.

Mr. Alejano likened the actions of President Rodrigo R. Duterte’s administration to that of former President Gloria M. Arroyo’s administration when it allowed the Joint Marine Seismic Undertaking (JMSU) in the South China Sea (SCS) with China as well as Vietnam.

“What is happening now seems to be a repeat of JMSU entered into by the Arroyo administration in exchange of the anomalous NBN-ZTE and Manila Clark Northrail deals,” Mr. Alejano said.

The opposition lawmaker also urged Mr. Duterte’s administration “to be more transparent in its dealings with other countries, especially with China, to allay worries and assure the Filipino people that (they) are not being sold.” — Arjay L. Balinbin

Hot Sharapova shows she’s a title contender

MELBOURNE — Unseeded Maria Sharapova yesterday showed she is a serious contender for the Australian Open by swatting aside a 14th seed who had given her major trouble in the past.

Sharapova, back in the top 50 after a 15-month doping ban, demonstrated all the shot-making that made her a five-time major winner as she destroyed gritty Anastasija Sevastova 6-1, 7-6 (7/4) on Rod Laver Arena.

The Russian, who faces Angelique Kerber next in a mouth-watering clash of former Australian Open champions, warned she was still improving less than a year after her comeback last April.

“She’s had success here,” she said of Kerber, the 2016 title winner. “She’s had success playing out here in these conditions on these courts. I want to see where I am on that level.”

The Latvian had thwarted the Russian’s Grand Slam comeback in the last 16 of the US Open last year.

In their next encounter in Beijing Sevastova was only denied after more than three grueling hours in a titanic three-setter.

Yesterday, it was a different story as Sharapova sped through a sizzling first set in just 23 minutes for the loss of only nine points.

“I played really well at the net, finished the balls off with a swing volley or good volley,” she said.

“Something I’ve been working on, and definitely improved in the match today.”

Sevastova characteristically fought back in the second but the only time the 2008 Australian Open champion and crowd-favorite wobbled was when serving for the match.

“She never really lets up,” Sharapova said. “But I got through it. I did the job in two, and that’s not something I did, you know, towards the end of last year.

“I think that’s an improvement.”

DRAMATIC DEMOLITION
As temperatures soared towards 40˚ Celsius (104˚ Fahrenheit) on the hottest day of the tournament so far, it was a dramatic demolition.

The Latvian, who reached back-to-back quarterfinals at the US Open in 2016 and 2017, briefly woke up to break the Sharapova serve for the first time early in the second set.

Angelique Kerber
Angelique Kerber — AFP

The jolt to the Sharapova juggernaut was evident and she began to make unforced errors as service holds and breaks were exchanged.

At 4-4 a backhand winner got Sharapova to break point and when a second screamer followed it was greeted by a double-fist pump from the Russian.

But still Sevastova was not done and broke back again to force a tie-break.

Sharapova regathered and was not to be denied as she hit a scarcely believable forehand crosscourt winner on the run to get to 5-2 before closing out the match with a scream of joy, a fist pump and a huge smile.

“I did my job in two sets against someone that’s been troubling in the past for me. I think I deserve to smile out there after that victory,” said Sharapova.

Sharapova, one of the highest earners in women’s sport, suffered a string of early defeats after her comeback but has been working her way back up the rankings since.

She broke through to win the Tianjin Open in October — her first title since 2015 — and enjoyed a run to the semi-final in Shenzhen to start the year.

KERBER VS SHARAPOVA
Angelique Kerber set up a mouth-watering clash between the only two former Australian Open champions left in the draw when she breezed into the third round yesterday.

The German 21st seed, champion here two years ago, will face 2008 winner Maria Sharapova in Saturday’s glamour clash after beating Croat Donna Vekic 6-4, 6-1 in an hour and 10 minutes.

Sharapova was equally impressive in beating 14th seed Anastasija Sevastova 6-1, 7-6 (7/4) on Rod Laver Arena.

Kerber had a standout 2016 when she won in Australia, beating Serena Williams in the final, to become the first German since Steffi Graf in 1999 to claim a Grand Slam.

She backed it up by being crowned US Open champion and began 2017 as world number one, before her form deserted her and she slumped to 21st by the end of the season.

But a series of wins at the Hopman Cup this month, coupled with ending a 27-tournament title drought by winning the Sydney International — her first since the US Open — has restored her confidence. — AFP

Japanese, Davao City businessmen push for Tokyo-Davao direct flights

DAVAO CITY — Japanese investors and the Davao City Chamber of Commerce and Industry, Inc. (DCCCII) are in talks for the opening of direct flights between Tokyo and Davao City.

Newly elected DCCCII President Arturo M. Milan, in a media forum Wednesday, said the investors from Japan are involved in the tourism sector.

“Nothing is definite yet as we are still in planning and discussing stage. We’re four discussing this but I am not at liberty to discuss this yet, (like identifying) who they are,” he said.

Mr. Milan said the next step is to bring in the Japanese Tourism Bureau as well as the Davao City Tourism Office into the discussions.

Mr. Milan said they are hoping to have the flights launched in time for the Kadayawan Festival in August.

“So we have to have a group that will do Indak-Indak (street dancing performance) in key cities in Japan to create awareness because we cannot just sit and wait until the foreign tourists will come. We need to promote it aggressively. That’s the plan,” he said.

The business leader said they are also looking into creating a “complete package” to attract Japanese tourists, which would include the promotion of other destinations in Mindanao such as Mati City in Davao Oriental and the Surigao provinces.

Mr. Milan said getting an airline to service the Tokyo-Davao route would be easy, but developing and sustaining a market for the flights would be the hard part.

In another development, Mr. Milan said the business chamber in Honolulu, Hawaii and the DCCCII are signing a sisterhood agreement to strengthen economic cooperation.

“They are communicating directly to the (Davao) city government and they are coming in February,” Mr. Milan said, adding, “I want to understand in what area they want cooperation. I suppose it would be tourism as Hawaii is a tourist destination. Probably also in food… or an exploration of what kind of agri products.”

“We are in a very exciting times and I hope we can take advantage of this,” he said. — Maya M. Padillo

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