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SMC food unit to conduct follow-on offering by Q2

SAN MIGUEL Food and Beverage, Inc. (SMFBI) looks to conduct a follow-on offering by the second quarter of 2018 in order to meet the minimum public float of 15%.

Diversified conglomerate San Miguel Corp. (SMC) is currently consolidating its food and beverage businesses Ginebra San Miguel, Inc. (GSMI) and San Miguel Brewery, Inc. (SMB) under San Miguel Pure Foods Company, Inc. (SMPF), which is being renamed SMFBI.

After the consolidation, SMFBI will have a public float of 4.3%, way below the current floor of 15% for listed companies.

“The company is targeting 15% which is the minimum requirement. And then we will decide later on if there is an additional follow-on (offering) that is needed,” SMPF President Francisco S. Alejo III said during a special shareholders’ meeting in Mandaluyong City on Thursday.

SMC Chief Finance Officer Ferdinand K. Constantino said they look to attract a combination of foreign, institutional, and domestic investors for the issuance.

Mr. Constantino noted the surviving company can book up to P245 billion in revenues this year,  with P120 billion coming from food, P100 billion from beer, and the remaining P25 billion from GSMI.

On the other hand, SMPF secured shareholder approval for various transactions relating to the consolidation of SMC’s businesses during the special stockholders’ meeting. Among these are the changes in SMPF’s corporate name to SMFBI and the change in its primary purpose to include the operations of the liquor and brewery businesses.

Shareholders also approved SMPF’s acquisition of SMB and GSMI from SMC through a share swap transaction, valued at P336.35 billion for a total of 7.86 billion common shares in SMB and 216.97 million common shares in GSMI.

“The company will issue 4,242,549,130 common shares to SMC valued at P79.28 per share, totaling P336, 349,294,992.60,” SMPF said in a presentation.

The shares resulting from the share swap transaction will also be listed at the PSE.

The company has also been given the go-signal to conduct a tender offer for SMB and GSMI shares held by its minority shareholders. This move, however, will only be done if the Securities and Exchange Commission requires the company to do so.

Mr. Constantino said the consolidation of SMC’s traditional businesses will provide value proposition to investors, as it can be used as a gauge for the country’s food and beverage sector.

“It will be attractive to investors, because there is no other food and beverage company in the Philippines. It will be a good proxy for the Philippine environment… Malaki value nun (The value is significant), because there’s a big demand for that,” Mr. Constantino told reporters in a briefing after the special shareholders’ meeting.

Shares in SMPF dropped P4 or 0.74% to P537 each at the stock exchange on Thursday, while shares in SMC were up by a peso or 0.77% to P131.50 apiece. — Arra B. Francia

Champs have work cut out at UFC 220

THE Ultimate Fighting Championship (UFC) features two title fights when it unfurls its second offering for 2018 with “UFC 220” in Boston, Massachusetts, on Sunday with one local combat sports observer seeing the reigning champions having their work cut out for them against weighty challengers.

Headlining the UFC live event in Beantown is the heavyweight title clash between champion Stipe Miocic of the United States and Cameroonian challenger Francis “The Predator” Ngannou with the light heavyweight title battle of American champ Daniel “DC” Cormier against Swiss Volkan “No Time” Oezdemir serving as co-main event.

Mr. Miocic (17-2) will make his third title defense after ascending on top of the division in May 2016 and is looking to continue holding his belt.

But for Mike Miguel, combat sports writer and observer for RealFight.ph, the upcoming title defense presents a whole new challenge for Mr. Miocic.

“More often than not, champions usually head into a fight as a favorite. In this case however, Stipe enters this fight as the slight underdog in most odds and in the eyes of the fans thanks to Ngannou’s performance as of late,” said Mr. Miguel when asked by BusinessWorld for his thoughts on the headliner of UFC 220.

“In the division where anything can happen in an instant, anyone has the capability to change the course of the fight with just one punch and Ngannou possesses that — just like what he did to Overeem to earn a title shot,” he added.

Mr. Ngannou (11-1) has had it impressive in mixed martial arts, winning his last 10 fights, six in the UFC, all by stoppage.

In his last fight in December, The Predator devastatingly knocked out erstwhile top contender Alistair Overeem in the opening round, setting up the title clash with Mr. Miocic.

But Mr. Miguel is not counting out Mr. Miocic and his abilities vis-à-vis Mr. Ngannou, even going as saying that the champion could well retain his title in the end.

“Miocic can overcome Ngannou’s power by maximizing his speed and staying patience and combining that with his own power. Most fans tend to forget Miocic also has the power to knock people out and he has done that in his past four fights under one round against Junior Dos Santos and Fabricio Werdum in addition to Andrei Arlovski and Overeem. I’m looking at Stipe retaining his belt as long as he plays to his strength,” Mr. Miguel said.

CORMIER VS OEZDEMIR
Mr. Miguel also sees the same case in the Cormier-Oezdemir clash, recognizing how the Swiss challenger also has it in him to make things happen in the Octagon.

“Just like Ngannou, Oezdemir has that penchant to knock people out in a short time, which is something to be wary about if you are Cormier,” he said.

“However, against someone like a battle-tested champion in Daniel Cormier, it takes more than that to dethrone him. He should overcome DC’s smothering wrestling game with his reach to pick his spots, much like how Jon Jones did in the past,” Mr. Miguel added.

Other fights at UFC 220 at the TD Garden are featherweight Calvin Kattar against Shane “Hurricane” Burgos, light heavyweight Gian Villante versus Francimar “Bodao” Barroso, and bantamweight Thomas “Thominhas” Almeida (#10) against Rob Font (#14).

UFC 220: Miocic vs. Ngannou will be shown live on Sunday beginning at 11 a.m. over Hyper Ch. 91 in SD or 261 in HD on Cignal TV. Encore telecast is at 7 p.m. on the same day.

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. — Michael Angelo S. Murillo

Vivant subsidiary bags power plant contract

A UNIT of Vivant Corp. has secured the right to operate and maintain the 215-megawatt (MW) diesel bunker-fired power plant in Bauang, La Union, the listed company told the stock exchange on Thursday, Jan. 18.

 

Vivant said its subsidiary 1590 Energy Corp. (EC) bagged the contract after its submission of an unsolicited proposal to the provincial government of La Union. The proposal was subjected to a Swiss challenge, opening it to third parties that can match or exceed 1590 EC’s offer.

Vivant said, “(T)he Provincial Government of La Union awarded a five (5)-year lease contract to Vivant-led 1590 EC for the Bauang Diesel Power Plant, which supplies the peaking demand for power in the Luzon grid.”

Vivant, through subsidiaries and affiliates, has interests in companies engaged in renewable and non-renewable energy generation, power distribution, and retail electricity supply business. It owns 1590 EC through wholly owned Vivant Energy Corp.

Based on data from the Department of Energy, the Bauang plant has 21 units with a total installed capacity of 235 MW but a dependable capacity of 180 MW. 1590 EC is the plant’s operator under an independent power producer administrator (IPPA) arrangement.

The lease contract follows Vivant’s disclosure in December last year that its unit Vivant Integrated Generation Corp. had signed a pre-development agreement with Global Business Power Corp. to jointly participate through Lunar Powercore, Inc. in a power development project in Luna, La Union.

The project under special purpose vehicle Global Luzon Energy Development Corp. will undertake the financing, design, procurement, construction, testing, commission, operation and maintenance of a two-unit coal-fired power plant each with a capacity of 335 MW.

On Thursday, shares in Vivant rose 19.80% to close at 29.95 each.

Vivant’s businesses include Cebu Private Power Corp., which owns and operates a 70-MW diesel-fired power plant in Cebu; Delta P, Inc., owner and operator of a 16-MW diesel-fired power plant in Palawan; and Cebu Energy Development Corp., a project company that owns and operates a 246-MW coal-fired power plant in Toledo City, Cebu. — Victor V. Saulon

Woody Allen backlash grows as daughter says she’s telling the ‘truth’ about abuse

NEW YORK — Woody Allen faced a growing backlash Wednesday after his daughter revived child molestation allegations against the legendary director, asking the world to finally believe her as a sexual harassment watershed sweeps the United States.

Dylan Farrow’s claim that the director sexually assaulted her as a seven-year-old first surfaced a quarter of a century ago in the wake of her mother’s bitter split from Allen, who ran off in 1992 with his lover’s adoptive daughter from a previous marriage, Soon-Yi Previn, 21 years old at the time.

The famed American director of more than 50 movies, winner of four Oscars, and showered with awards in Europe, has always denied the allegations. The claims were never proven and the 82-year-old director has continued to enjoy a glittering career.

But the sexual harassment firestorm that has brought down Hollywood titans such as Harvey Weinstein and Kevin Spacey has fueled a growing backlash against Allen.

In the wake of the Time’s Up movement launched by Hollywood women to counter sexual harassment and sexism, Allen’s estranged, adopted daughter said it was time for the world to finally listen.

“Why shouldn’t I want to bring him down? Why shouldn’t I be angry? Why shouldn’t I be hurt?” she told CBS This Morning in her first television interview, excerpts of which were broadcast on Wednesday. The full interview is to air Thursday.

“Why shouldn’t I feel some sort of outrage that after all these years, being ignored and disbelieved and tossed aside?” Farrow added.

Asked why people should believe her now, she replied: “I suppose that’s on them, but all I can do is speak my truth and hope, hope that somebody will believe me instead of just hearing.”

The film director’s agent did not immediately respond to an AFP request to comment.

It was a devastating expose of alleged rape, assault, and harassment published by Farrow’s brother, Ronan, the biological son of Allen and Mia Farrow, in The New Yorker last October that helped end Weinstein’s career.

Since then, a growing number of actresses, including Greta Gerwig, Rebecca Hall, Ellen Page, and Mira Sorvino, have announced they regret working with Allen.

‘MUST BE REEXAMINED’
“I believe Dylan,” Oscar-winner Natalie Portman told Oprah Winfrey in a recent group interview with other actresses who included Reese Witherspoon.

Hall, who appears in his upcoming movie A Rainy Day in New York and starred in his 2008 romantic comedy Vicky Cristina Barcelona, announced on Instagram that she had donated her wage from his latest film to the Time’s Up movement.

“I see, not only how complicated this matter is, but that my actions have made another woman feel silenced and dismissed,” she said.

Up-and-coming actor Timothee Chalamet, who also stars in A Rainy Day in New York followed suit and also announced he was donating his entire salary from the film to Time’s Up and other charities.

“We are in a day and age when everything must be reexamined. This kind of abuse cannot be allowed to continue. If this means tearing down all the old gods, so be it,” wrote Sorvino in an open letter to Farrow in HuffPost last week.

Actor Alec Baldwin, who won acclaim for portraying Donald Trump on Saturday Night Live, is one of the few to publicly defend Allen in recent days, saying it was possible to support survivors of pedophilia and sexual assault, and also believe he was innocent.

Dylan Farrow detailed the alleged abuse for the first time in her own words in an open letter published on a New York Times blog in 2014.

In a follow-up New York Times op-ed, Allen repeated his denial and launched a furious attack on Mia Farrow, denouncing her as “more interested in her own festering anger than her daughter’s well-being.”

Last December, Dylan Farrow wrote another op-ed in the Los Angeles Times under the headline “Why has the #MeToo revolution spared Woody Allen?”

A New York judge who presided over the 1994 custody battle between Allen and Farrow ruled that the abuse allegations were inconclusive, but at the same time lambasted the director as “self-absorbed, untrustworthy and insensitive.”

A Connecticut police investigation also failed to result in any charges.

Allen remains with Soon-Yi and the couple have two children. — AFP

Gov’t slams Rappler anew

MALACAÑANG SEES the controversy over the Philippine Navy’s warship deal allegedly involving Special Assistant to the President (SAP) Christopher Lawrence “Bong” T. Go as Rappler.com’s “defense by way of an offense.” At a press briefing in Legazpi City, Albay, on Jan. 18, Presidential Spokesperson Herminio Harry L. Roque, Jr. said of the news site: “Let me start by saying that this allegation against Special Adviser to the President Bong Go appears to be defense by way of an offense. Please note that this allegation came out immediately after the decision of the SEC (Securities and Exchange Commission) declaring that Rappler, Inc. and Rappler Holding violated ownership rules of the Constitution on mass media companies.” For his part, Justice Secretary Vitaliano N. Aguirre II called for “Rappler’s active participation in the NBI’s (National Bureau of Investigation’s) investigation” as it “will greatly help in bringing out the truth.” — Arjay L. Balinbin and Minde Nyl R. dela Cruz

Facilitating Philippine trade

Aside from the fact that global trade is picking up — despite the ever constant threat of protectionist revivals, mostly blamed (wrongly) on Trump — there is a clear dearth of substantial good news as far as the World Trade Organization is concerned. One sees that in peoples focus on the Trans-Pacific Partnership (TPP) and the Regional Comprehensive Economic Partnership (RCEP)

But another reason evidencing the WTO’s dry spell is from the way the Trade Facilitation Agreement (TFA) is celebrated. The TFA became effective Feb. 22, 2017, when 2/3 of the WTO’s members signed on to the agreement.

Incidentally, there are three ways to sign on to the TFA:

Category A: Provisions that the Member will implement by the time the Agreement enters into force (or in the case of a least-developed country Member within one year after entry into force)

Category B: Provisions that the Member will implement after a transitional period following the entry into force of the Agreement

Category C: Provisions that the Member will implement on a date after a transitional period following the entry into force of the Agreement and requiring the acquisition of assistance and support for capacity building.

The Philippines opted for Category A in 2016.

Remember that trade facilitation was one of the so-called Singapore Issues (i.e., trade and investment, competition policy, government procurement, and trade facilitation) that spectacularly derailed the Doha Round completion, most notoriously during the Cancun Ministerial in 2003.

But like all things, perhaps change is inevitable.

Back in 2014, I wrote that the Philippines could make the necessary customs improvements on its own, without the need of an international multilateral agreement tying it up to other countries.

After all, by doing it unilaterally, no country can hold the Philippines liable under the WTO dispute settlement system, assuming something in our customs rules do not come up to par in that country’s view.

Neither do we need a trade facilitation agreement for improving trade with other countries as most of our major trading partners are richer ones anyway with quite developed and transparent customs procedures.

In fact, most of the provisions contained in the Trade Facilitation Agreement are conceivably implemented already by these developed countries, leaving it only to the poorer countries (like the Philippines) to shoulder the additional burden of accelerating the upgrade of their customs procedures (which, as I said, could be better done unilaterally).

To emphasize, what is being objected to here is not trade facilitation itself but the multilateral mode (e.g., the TFA) in which it is to be applied. The consensus is that trade facilitation itself helps developing countries the most:

“Unduly complex processes and documentation raise costs and cause delays not only for businesses, but also for the consumers, and finally for the whole economy. This is true for all economies, but today affects particularly the developing countries. Based on a series of trade facilitation indicators, designed to measure the relative economic and trade impact of the measures under negotiation in the WTO, the Organization for Economic Cooperation and Development (OECD) found that lower middle income countries stand to gain the most from a comprehensive trade facilitation reform, which could reduce trade costs in this group of countries by 15.5%. Potential cost reductions are almost 14.5% for low income countries and 13.2% for upper middle income countries (1), while they can reach 10% for OECD countries (2). Keeping in mind that a reduction of global trade costs by 1% would increase worldwide income by more than $40 billion (3), these are reforms that could bring a very welcome boost to developing countries’ economies.” (see Moïsé, E., The impact of trade facilitation on developing countries. GREAT Insights, November 2013)

There are admittedly, two issues that could be of interest. The first is the problem of language, particularly with regard to China (and perhaps, Japan). But both are parties with the Philippines in regional trade deals (e.g., ASEAN-China, JPEPA, and ASEAN-Japan), of which trade facilitation is included.

The other is that the TFA does declare that developed countries are entitled to “assistance and support for capacity building,” with capacity building being defined as “technical, financial, or any other mutually agreed form of assistance.” Yet with the Philippines choosing Category C, it would be interesting how that goes.

In any event, the value of the TFA for the Philippines is still hazy for me.

After all, we just had the Customs and Tariff Modernization Act, which was touted as being not merely a revenue raising measure but also one of trade facilitation.

The CMTA, remember, took into account developments regarding related party transactions (with the application of “test values” and “circumstances of safe analysis” concepts, designed to better gauge the arms length nature of certain business transactions), as well as increased surcharges for misdeclarations, misclassifications, and undervaluations (i.e., technical smuggling). Nevertheless, customs risk management procedures, duty drawback, and rules of origin compliance remain further areas of improvement.

 

Jemy Gatdula is a Senior Fellow of the Philippine Council for Foreign Relations and a Philippine Judicial Academy law lecturer for constitutional philosophy and jurisprudence.

jemygatdula@yahoo.com

www.jemygatdula.blogspot.com

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Twitter @jemygatdula

Consistency a big concern for Talk ’N Text — Racela

TALK ’N TEXT is considered as one of the title favorites in the All-Filipino, but consistency has been the problem of this team in its first four outings.

Against the Blackwater Elite on Wednesday night, the KaTropa struggled in the early goings before getting their bearings in the second half on their way to scoring their second win in four matches.

“Up to this point, we’re still looking for consistency. But that’s not only the factor. It also depends on the opponents you’re facing. Sometimes, you get consecutive games facing not the best teams in the league. We played the best teams the last time out. We were not really successful that game. One thing we want to avoid is losing games to teams which should need to beat. We haven’t established a winning run yet, like getting consecutive wins, but we also want to avoid back-to-back losses,” Talk ’N Text coach Nash Racela told BusinessWorld.

The KaTropa were pushed to the limit by a team that has never won against them since they joined the PBA. The more experienced Talk ’N Text squad kept its poise and held on to win.

“Going to this game, we knew we’re going to have a hard time against Blackwater. We knew it’s not going to be easy getting a win against them. It would take an absolute best and they were really able to challenge us. Good thing in the second half, our shots started to fall,” added Mr. Racela.

One of the reasons why the KaTropa struggled in the early goings was the fact that they missed Kelly Williams, who was caught in traffic and was forced ride a habal-habal (motorcycle for hire) just to make it to the game.

“We missed Kelly in the first half. He was supposed to start in the game, so we were off a bit. There was a fire in C-5. Kelly comes from the south, so he was stuck in a traffic. Going here, he was forced to ride a habal-habal. The last message I got, he was looking for a motorcycle,” added Mr. Racela.

“A loss is not going to be an option for us. All teams got stronger. We really had to put value in every game. That puts you in a good position. If we went 1-3, we’re going to have a hard time.” — Rey Joble

Meralco, Solar Philippines seek ERC go-signal for supply deal

MANILA ELECTRIC Co. (Meralco) and Solar Philippines Tarlac Corp. (SPTC) are seeking provisional authority to implement their power supply agreement (PSA) that will bring down the cost of solar energy to a record low P2.9999 per kilowatt-hour (kWh).

“Considering that SPTC’s solar power plant is expected to achieve commercial operations in the fourth quarter of 2017, an immediate implementation of the PSA would redound to the benefit of the consumers in terms of environmental benefits and would also contribute to the government initiative of encouraging the development of renewable energy in the country,” read the companies’ joint filing to secure provisional authority from the Energy Regulatory Commission (ERC).

They also said the P2.9999 per kWh offered by supplier Solar Philippines to Meralco is “significantly lower” than the prevailing feed-in-tariff (FiT) rates and the lowest tariff offer that the power distribution utility had received thus far for a solar technology.

The ERC has set the hearing on the application next month.

Meralco sought the power supply contract based on its power situation outlook for 2017 and succeeding years where it foresees a peaking capacity deficit in its portfolio because of an expected high demand as well as possible occurrences of scheduled maintenance shutdowns and forced outage of power plants.

Meralco’s distribution development plan from 2015 to 2024 forecasts a capacity requirement that will grow by a compounded average of 3.7%.

Meralco executed the PSA with SPTC on Oct. 6, 2017 for the purchase of electricity generated by the latter’s 150-MW solar farm in Concepcion, Tarlac. The contract called for 75 MW and up to 85 MW from the first to fifth year, then 85 MW from the sixth to 20th year.

The two companies forged the agreement after Meralco on June 28, 2017 invited price challengers to an offer made by another entity at a price bested by SPTC’s lower offer. The original power supplier did not exercise its right to match SPTC’s proposed price.

Based on the provisions of the companies’ power supply contract, if the ERC provisionally accepts the filing for the approval of the PSA by Oct. 20, 2017, then beginning Jan. 26, 2018, Meralco will be deemed to have sourced replacement energy from the wholesale electricity spot market at the cost offered by SPTC.

SPTC’s offered price is significantly lower than the price set by the regulator when the Department of Energy opened solar power for subscription initially at P9.68 per kWh, then at P8.69 per kWh when it expanded the target capacity to 500 MW. The FiT scheme, which guarantees payment of the fixed rate for 20 years, was fully subscribed long before the end-2017 deadline.

Meralco’s controlling stakeholder, Beacon Electric Asset Holdings, Inc., is partly owned by PLDT, Inc. Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has interest in BusinessWorld through the Philippine Star Group, which it controls. — Victor V. Saulon

The return of Cynthia Alexander

By Susan Claire Agbayani

FORMER RADIO station manager and disc jockey (DJ) George Mercado, a.k.a. “George Boone” distinctly remembers having persistently wooed Cynthia Alexander — following her around in gigs at 70s Bistro as early as 1995 for instance — into signing up with a record company when he was its chief operating officer (COO).

“I’d always wanted to sign her up, so I used all my convincing powers to get Dyna Records management to believe,” he told this writer via Facebook Messenger.

“Recording of Insomnia and Other Lullabyes was incredibly smooth with Maly Andres of Violent Playground producing, and Angee Rozul on the faders. She insisted on a Taylor guitar for one of the songs which I had to rent from Litos Benavidez. She also didn’t want to settle for synths, and wanted a string quartet for a couple of songs.

A diva? No.

“Perfectionist is the word,” Mr. Mercado said.

Mr. Mercado is now CEO of CloudReady, a cloud tech company based in Singapore; he also teaches at John Robert Powers, and plays keyboards for a retro band.

Ms. Alexander went on to perform at Sanctum, Survival Café, and Conspiracy, among other venues, and released three other albums which she produced and released independently: Rippingyarns (2000), which contains most of her hit songs, Comet’s Tail (2005), and the live album Walk Down the Road (2009).

She moved to Washington state in the US in 2012 with her daughter Tala and her wife Stacey, and there she found peace and quiet. It was a place where she was “able to hear my thoughts.” According to an essay she wrote on the crowdfunding site Indiegogo.com, she has “played the stages, coffee shops, and parks” of her new home.

“… Since the release of my last album in 2009, I’ve gone through a personal sea change that culminated in my move to the Pacific Northwest. All this time, I’ve been writing songs that reflect my experiences. Now that I’ve set down roots and built a small home studio, I’m ready to record those songs and share them with you!” she said on the site.

Ms. Alexander wrote most of the songs on Even Such is Time (save for the adaptations of her mother’s poems). She also wrote the music, and performed and arranged the tungkaling, coral, lava rock, tungatong, gandingan, gangsa, rainstick, goats horns, kalimba, guitars, bass, synths, and piano on the new album which she produced in Tacoma, Washington. It was, however, mixed by Matthew Brown in Hamburg, Germany, and mastered by Levi Seitz of Black Belt Mastering in Seattle, Washington.

During the concert-cum-album launch of Even Such is Time at San Juan’s Music Museum on Jan. 13, she thanked “168 funder friends from the USA (including Guam), Canada, Australia, Japan, Singapore, and the Philippines” who made the mixing, mastering, and manufacturing of her latest album possible.

One such fan is Alden Copuyoc, a writer and entrepreneur who met Ms. Alexander when he edited Music Channel magazine in early 2000 and eventually became her good friend. “I followed Cynthia around. I love Tori Amos and Joni Mitchell. When I idolize artists I look for three things: poetic lyrics, instrument mastery, and distinctive sound.” He said Ms. Alexander has all three.

Her ardent admirers among the concert goers were pleased to have heard hits from her second album Rippingyarns such as “Walk Down the Road,” “U & I,” “Knowing There’s Only You,” “Daisy Chain,” “Weather Report,” and “Intertwyne”; Insomnia and Other Lullabyes (1997) such as “Wait,” “Malaya,” and what is probably her most popular song, “Comfort in Your Strangeness.”

Apart from guestings on broadcast media, last Saturday’s concert was the first time that Ms. Alexander performed songs from her new album for local audiences with a band. Aside from “Dressed for Nowhere,” “St. Cecilia,” and “Dreams,” she also performed “Snowhills,” which is an adaptation of “Love Poem” by her poet-mother Tita Lacambra-Ayala from the book Ordinary Poems which was written in 1967.

Ms. Alexander acknowledged her older brother Joey Ayala’s presence during the concert — even inviting him to go onstage for some “joke time.” She revealed how he was a crucial influence on her, having taught her “my first three chords in life,” and giving/lending her her first guitar at age 13, and, eventually, also giving her first bass guitar (never mind that it was “matigas tugtugin” — hard to play). And what an investment that was, as she eventually emerged as the best bassist in the World Band Explosion finals in Tokyo, Japan.

Among those who played with Ms. Alexander during last weekend’s concert were Mlou Matute on darboukka and piano and Abby Clutario on piano and chapman stick (both also did backup vocals); CJ Wasu on tabla; Zach Lucero on drums; Sancho Sanchez and Kakoy Legaspi on guitars; and Louie Talan and Yuna Reguerra on bass.

Ms. Alexander performed with the singer-songwriter twins Paolo and Miguel Guico from the young and promising nine-piece world/folk-pop band Ben&Ben. They sang the Beatles’ “Blackbird,” and “Dumaan Ako,” a song which was written by the late poet Maningning Miclat, set to music by Mr. Ayala.

Fresh from a sold-out concert and album launch at Teatrino Music Hall — right across the Music Museum in the Greenhills Shopping Center — Ben&Ben was Ms. Alexander’s front act, singing their own songs “Maybe the Night,” “Sa Panaginip,” and “Dahilan,” as well as “Ride Home,” “Leaves,” and their hit, “Kathang Isip,” which have “notched over a million streams each on music platform Spotify,” according to a press release issued by the concert organizers.

The fraternal twins, who are both engineering graduates from De La Salle University in Manila, don’t have musicians as parents. But their folks’ love and appreciation for music rubbed off on them such that they decided to jump into a career in music right after college.

“Growing up, our dad made us listen to a lot of artists from the 1950s and 1960s such as Dave Clark 5, Everly Brothers, Simon and Garfunkel, a lot of standards, and, of course, the entire discography of The Beatles. He’d also load concert videos of bands like The Eagles from time to time. Mom, on the other hand, listened to a lot of church and worship music during mornings,” said Paolo Guico in an interview via Messenger.

“We felt really nervous days prior to meeting Cynthia, since there was so much pressure to be at our best musically for the rehearsals and eventually for the show,” he said. “However during the rehearsals, we found ourselves enjoying the whole process because the music just flowed out of everyone,” he added.

“The collaboration with Ms. Cynthia was surreal. It actually felt like a dream for us to be able to share the stage with one of our biggest influences while singing one of our ‘life songs,’ which is Ms. Cynthia’s version of ‘Dumaan Ako’ by Maningning Miclat and Joey Ayala,” Miguel Guico said.

The concert was presented by the Organisasyon ng Pilipinong Mang-aawit (OPM) and SOS Movement, in partnership with Gabi Na Naman Productions and Vandals On The Wall.

Even Such is Time is available online starting at $7 for a digital download at cynthiaalexander.bandcamp.com/album/even-such-is-time.

Power suppliers to explain TRAIN impact

THE Department of Energy (DoE) has directed all distribution utilities to require their power suppliers to explain any additional charges that may arise from the tax reform program, in effect since the start of the year.

“This includes the explanation on the implementation of excise taxes vis-a-vis the minimum inventory requirement for both coal stocks and diesel stocks,” DoE Secretary Alfonso G. Cusi said in a statement on Thursday.

Under Republic Act 10963 or Tax Reform for Acceleration and Inclusion (TRAIN) Act, the excise tax on coal is to be increased from P10 per metric ton to P100 in the first year, P200 in the second and P300 in succeeding years.

The DoE said the secretary had called for a meeting with distribution utilities to discuss “the effective and appropriate” implementation of the power-related provisions of the TRAIN law.

It said the major items that were discussed were the price adjustments coming from the value-added tax (VAT) on the transmission sector; the VAT on cooperatives registered with the Cooperative Development Authority (CDA); and the excise tax on coal and diesel that are used to run power plants.

The DoE has also met with representatives from the Department of Finance, Energy Regulatory Commission, National Electrification Authority, National Power Corp., Philippine Electricity Market Corp., Philippine Rural Electric Cooperatives Association, Inc., Manila Electric Co. and Pangasinan Electric Cooperative I, which is a CDA-registered electric cooperative.

In its meetings with stakeholders, the DoE said it aims to clarify the salient provisions of the TRAIN implementation in the sector and to gather feedback on issues and concerns on the first package of the Duterte administration’s tax law.

The Energy and Finance departments agreed on the next steps to address the concerns of the energy stakeholders and the protection of energy consumers.

Mr. Cusi said the “ultimate objective” of the TRAIN law of “consumption-to-investment, better infrastructure and social services for the people will be achieved with this strong collaboration” between the two departments. — Victor V. Saulon

Key Azkals game to be played at Rizal Memorial Stadium

By Michael Angelo S. Murillo
Senior Reporter

MANILA residents will get to see after all the Philippine national men’s football team play in a key match in March as its scheduled AFC Asian Cup 2019 Qualifiers game against Tajikistan had been reset at the Rizal Memorial Football Stadium.

Initially set to be played at the Pana-ad Park and Football Stadium in Bacolod City, Negros Occidental, the Philippine Football Federation (PFF) confirmed early this week that it already received the confirmation for the change in venue from Asian Football Confederation (AFC).

Cited as reason for the change was “difficulties in securing fully equipped training venues.”

“We announce that the AFC has approved the PFF’s request to move the final match of the AFC Asian Cup Qualifiers back to Manila,” said PFF President Mariano V. Araneta, Jr. in a statement.

“This match will be a crucial match as it will decide the Philippine Men’s National Team’s chances of qualifying for the AFC Asian Cup,” he added.

The “Azkals,” as the Philippine men’s national team is collectively referred to, currently leads their grouping in the qualifiers with a record of two wins and three draws with nine points.

They just need, for good measure, to win in their final game against Tajikistan in March to formalize their entry into the Asian Cup.

Trailing the men’s team in the qualifiers are Tajikistan (2-1-2) and Yemen (1-4-0), which are tied at second spot with seven points apiece.

“We hope all football stakeholders and supporters rally behind the Men’s National Team,” said Mr. Araneta. Adding, “Qualifying for the AFC Asian Cup UAE 2019 will be a historic moment in Philippine football.”

The PFF said ticket details for the match will soon be announced.

US accuses Russia of helping North Korea evade sanctions

WASHINGTON — US President Donald Trump complained on Wednesday that Russia was helping North Korea to evade international sanctions, signaling frustration with a country he had hoped to forge friendly relations with after his 2016 election victory.

“Russia is not helping us at all with North Korea,” Mr. Trump said during an Oval Office interview with Reuters.

“What China is helping us with, Russia is denting. In other words, Russia is making up for some of what China is doing.”

China and Russia both signed onto the latest rounds of United Nations Security Council sanctions against North Korea imposed last year.

There was no immediate comment from the Russian embassy in Washington on Mr. Trump’s remarks.

During a 53-minute interview with a fresh Diet Coke near at hand on his desk, Mr. Trump also said he was considering a big “fine” as part of an investigation into China’s alleged theft of intellectual property; that he has lost all trust in the chief Democratic Party negotiator on immigration in the Senate; and declined to clear up conflicting reports about his use of the phrase “shithole countries” in a White House meeting, which caused an international outcry.

MAJOR GLOBAL CHALLENGE
With North Korea persisting as the major global challenge facing Mr. Trump this year, the president cast doubt on whether talks with North Korean leader Kim Jong Un would be useful.

In the past he has not ruled out direct talks with Mr. Kim.

“I’d sit down, but I’m not sure that sitting down will solve the problem,” Mr. Trump said, noting that past negotiations with the North Koreans by his predecessors had failed to rein in North Korea’s nuclear and missile programs.

He blamed his three immediate predecessors — Bill Clinton, George W. Bush and Barack Obama — for failing to resolve the crisis and, a day after his doctor gave him a perfect score on a cognitive test, suggested he had the mental acuity to solve it.

“I guess they all realized they’re going to have to leave it to a president that scored the highest on tests,” he joked.

He declined to comment when asked whether he had engaged in any communications at all with Mr. Kim, with whom he has exchanged public insults and threats, heightening tensions in the region.

Mr. Trump said he hoped the standoff with Pyongyang could be resolved “in a peaceful way, but it’s very possible that it can’t.”

Asked whether he thought the United States needs more missile defense systems, he said, “Yes, yes I do. We’re ordering more missile defense and we’re ordering more missile offense also.”

Mr. Trump praised China for its efforts to restrict oil and coal supplies to North Korea but said Beijing could do much more to help constrain Pyongyang.

The White House last week welcomed news that imports to China from North Korea, which counts on Beijing as its main economic partner, plunged in December to their lowest in dollar terms since at least the start of 2014.

‘CLOSER EVERY DAY’
Mr. Trump said Russia appears to be filling in the gaps left by the Chinese.

Western European security sources told Reuters in December that Russian tankers had supplied fuel to North Korea on at least three occasions in recent months by transferring cargoes at sea in violation of international sanctions. Russia has denied breaching North Korea sanctions.

North Korea relies on imported fuel to keep its struggling economy functioning. It also requires oil for its intercontinental ballistic missile and nuclear program.

Mr. Trump has repeatedly blamed a US investigation into whether Russia meddled in the 2016 presidential election for hindering an improvement in US-Russian relations.

“He can do a lot,” Mr. Trump said of Russian President Vladimir Putin.

“But unfortunately we don’t have much of a relationship with Russia, and in some cases it’s probable that what China takes back, Russia gives. So the net result is not as good as it could be.”

Andrew Weiss, vice-president for studies at the Carnegie Endowment for International Peace, said Moscow does not share the depth of US concerns over Pyongyang’s nuclear and missile programs. “It’s simply not the case, if Mr. Trump’s hands were not tied on Russia, that he and Putin could magically work together to solve the Korea crisis.”

Mr. Trump said Pyongyang is steadily advancing in its ability to deliver a missile to the United States.

“They’re not there yet, but they’re close. And they get closer every day,” he said.

North Korea said after its last intercontinental ballistic missile launch in November that the test had put the US mainland within range. Some experts agreed that based on the missile’s trajectory and distance it had the capability to fly as far as Washington DC.

They said, however, that North Korea had not yet offered any proof that it had mastered all technical hurdles, including development of a reentry vehicle needed to deliver a heavy nuclear warhead reliably atop an intercontinental ballistic missile.

Mr. Trump said he welcomed talks between North and South Korea over the Winter Olympics to be held in the South next month and said this could be an initial phase in helping defuse the crisis.

He would not say whether the United States has been considering a limited, preemptive attack to show the North that the United States means business.

“We’re playing a very, very hard game of poker and you don’t want to reveal your hand,” he said.

‘TOUGH-TALKING’
Mr. Trump also gave the clearest indication yet that his administration will take retaliatory trade action against China.

Mr. Trump and his economic adviser Gary Cohn, who was also in the Oval Office, said China had forced US companies to transfer their intellectual property to China as a cost of doing business there.

The United States has started a trade investigation into the issue, and Cohn said the United States Trade Representative would be making recommendations about it soon.

“We have a very big intellectual property potential fine going, which is going to come out soon,” Mr. Trump said.

Mr. Trump said the damages could be high, without elaborating on how the numbers were reached or how the costs would be imposed.

‘A MEAN PLACE’
Mr. Trump was also asked about a private gathering with a bipartisan group of senators last week at which he was reported to have used a vulgar term to describe Haiti and African nations. He would not confirm whether he had said “shithole countries,” but described it as a “tough-talking” meeting.

He said he had “lost all trust” in Democratic Senator Dick Durbin, one of the participants who later talked publicly about Mr. Trump’s comments during the meeting.

Mr. Trump criticized a proposed bipartisan deal on protecting children of illegal immigrants from deportation, calling it “horrible.” A deal was still possible by a March 5 deadline but that “time is running out,” he added.

Speaking a day after his doctor recommended diet and exercise to lose 10-15 pounds (4.5 to 6.8 kilograms), Mr. Trump said he would prefer dieting by eating smaller portions than exercise.

“I get exercise. I mean I walk, I this, I that,” Mr. Trump said.

“I run over to a building next door. I get more exercise than people think.”

As for the central lesson he has taken away from a year in the White House, Mr. Trump said: “I love Washington, but it’s a mean place, it’s a very deceptive place.” — Reuters