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Perspolise tops Neymar Jr’s Five national finals

THE Philippines will be bannered by Perspolise at the Neymar Jr’s Five World Finals after the team topped the national finals on April 21 held at Turf BGC in Bonifacio Global City, Taguig.
Perspolise, composed of Louis Serge Kaole, Otuyemi Emmanuel, Junior Stephen Ngong Sam, John Paul Canieso, Okoh Anthony Alechanu and Team Captain Hamed Hajimehdi, beat Tondo FC, 4-0, to book a place in the world finals where it will compete against winners from other legs of the tournament in various parts of the world.
Perspolise made its mark in Qualifier A when it was able to score the highly coveted first-place win and eventually used it as a springboard to generate momentum and win the ticket for Praria Grande, Brazil, later this year where the world finals will be played.
“It was good, we brought out our best players and we are excited to go to Brazil!” said Mr. Hajimehdi, a member of the Iranian International Football team, after their victory.
“Football is my life, I have been playing since I was 13 years old. It allowed me to play in many countries and all clubs. It’s also my job, football is my life!” he added.
“It was a tough game, but everything worked out for us in the finals,” Perspolise head coach Mikee Carrion, for his part, said. Adding, “It’s a great honor for us to represent the country… Everybody has to watch out because we’re representing the Philippines!”
While it competed well throughout the tournament, Tondo FC still found the going tough in the national finals, marking the second straight time it fell short of representing the country in the world finals.
Last year the team reached the finals as a late-replacement but lost to Naxional in the championship game.
“We played better than last year,” said Tondo FC’s Dennis Balbin. “We really had to prepare for this year. We worked on team defense and organization, learning that Neymar Jr’s Five is really a team effort.”
For sports director Anton Del Rosario, Tondo FC would have provided a great story had it went all the way but gave credit to Perspolise for proving it is deserving of the title and to represent the country.
“I think we were all rooting for Tondo FC, they would have made a great story!” said Mr. Del Rosario.
“But I’m happy for Perspolise, I’ve got friends there. On the world finals, Perspolise won’t play like they’re on vacation. They’re going to play to win!” he added.
A signature football tournament by Brazilian forward Neymar, Neymar Jr’s Five has five-a-side teams going head-to-head in 10-minute matches with a twist — There is no goalkeeper and the moment a team scores, the opposition loses a player.
For its second year in the Philippines, Neymar Jr’s Five drew many teams in a series of qualifying rounds in Manila and Cebu. In the end, 16 teams advanced to the National Finals, namely, French Kiss FC, International Manila, Tenth Power, Naij FC, The Tenth Power B, Realcelona, Tala Cu Chi, Perspolise, Koora, Selecao, ABCDE FC, Ballers FC, National FC, Brazilipinas, Tondo FC and Leylam FC A. — Michael Angelo S. Murillo

NatGeo Earth Day Run gathers large turnout

THE ninth staging of the National Geographic Earth Day Run proved to be a rousing success as it was able to gather over 16,000 “eco warriors.”
Took place at the SM Mall of Asia Grounds on April 22, coinciding with this year’s celebration of International Earth Day, the event saw committed runners bursting with energy from the 2 a.m. assembly through to the conclusion of the run at 9 a.m.
For this year’s edition of the run, organizers reopened the 3K fun run category alongside the 5K, 10K, and 21K distances.
They said it was all in the hopes of reaching a bigger audience across a wider demographic which they were able to achieve as each distance group saw healthy participation.
The large turnout, organizers also underscored, proved that there is a large and diverse group of people willing to run for a cause.
As has been the case in the past, the Earth Day Run encouraged all of its participants to become advocates for the most pressing issues threatening our planet.
This year, NatGeo partnered again with the World Wide Fund for Nature (WWF) Philippines and their #NotPlastic campaign to tackle plastic use and how something so deep-seated in our day-to-day lives is impacting the earth.
“[Using plastic] is something that people do every day without realizing or thinking twice about it. We hope to educate people on the very real impact of plastic use and highlight what they can do to help fight this issue,” said Charo Espedido, FOX Networks Group Head of Marketing, of the thrust of the run.
To live up to their mission, organizers made the event plastic-less, where each runner was provided with their own reusable water bottle, included in their race kit, which they could refill at various hydration stops throughout the course of the run.
Participants were informed in advance that there would not be disposable plastic or paper cups at the race village or along the route.
“It was encouraging to see so many people support Earth Day Run’s efforts in reducing plastic use. Hopefully these sentiments are things that all the runners will take away and share with others,” said — Jude Turcuato FOX Networks Group GM and SVP.
Race organizer for NatGeo Earth Day Run 2018 was RunRio Events, Inc. — Michael Angelo S. Murillo

Golden Bria sets P5.89-billion capex for 2018

Golden Bria Holdings (formerly Golden Haven), Inc is accelerating this year’s capital spending to P5.89 billion, in line with the company’s goal to beef up its land bank.
In a regulatory filing, the Villar-led firm reported that P2.16 billion of the 2018 spending has been allotted for land acquisitions. Construction will corner P2.59 billion of the capex, while around P746.5 million will be for land development.
The remaining budget will go to memorial park development, memorial chapel construction, and for property and equipment.
This year’s capital expenditure is more than double the P2.79 billion Golden Bria actually spent in 2017. — Arra B. Francia

IM John Marvin Miciano

Asian Youth Chess Championship
Under-18 Standard Time Control
Chiangmai, Thailand
April 2-9, 2018

Final Top Standings
1. FM John Marvin Miciano PHI 2260, 7.5/9
2. Daniel Quizon PHI 2228, 6.5/9
3-5. FM Xu Zhihang CHN 2344, IM Tran Minh Thang VIE 2400, FM Wong Yinn Long MAS 2222, 6.0/9
6-9. Omidi Arya IRI 2400, FM Mitrabha Guha IND 2366, Timur Nurzhanov KAZ 2296, CM Le Minh Hoang VIE 2226, 5.5/9
Total Participants: 30 players
Time Control: 90 minutes play-to-finish with 30 seconds added to your time after every move starting move 1
Last Tuesday, I told you that our newly minted IM John Marvin Miciano defeated the second, third and fourth seed in successive rounds in the Asian Youth Under-18 Championship. I then showed you his defeat of Arya Omidi (at 2400 the second highest rated player in the tournament) of Iran. Let us now look at the other two, annotated by IM Miciano himself through kindness of his coach GM Jayson Gonzales.

Mitrabha, Guha (2366) — Miciano, John Marvin (2260) [E69]
Asian Youth U18 Standard
Chiangmai (4), 04.04.2018
[Miciano, JM]

1.d4 Nf6 2.Nf3 g6 3.c4 Bg7 4.g3 0–0 5.Bg2 d6 6.Nc3 c6 7.0–0 Qa5 8.h3 Nbd7
Actually 8…e5 is possible, but I first waited for his e4.
9.e4 e5 10.Re1 Re8 11.d5!?
I had noted during my preparation that this move is the only one that gives White some initiative. After a random developing move like 11.Be3 Black has a lot of possibilities on how to pressure White’s center, for example: 11…exd4 12.Nxd4 and now Black has 12…a6, 12…Nb6, or 12…Qc7.
11…cxd5 12.Nxd5?!
This gives Black easy play. The usual move 12.cxd5 is better.
12…Nxd5 13.cxd5 f5 14.Bd2 Qb6 15.Bc3?!
I believe White’s best try for an advantage is 15.exf5 gxf5 16.Ng5 Nf6 17.Be3 Qa5 although it is still very unclear (over the board) whether white really gets some play here.
15…Nc5 16.Nd2
I was expecting more of 16.Ng5 Rf8 17.exf5 Bxf5 white might sacrifice on e6, to open the diagonal for his light squared bishop.
16…Rf8!
A threat is even stronger than developing moves. I was about to move 16…Bd7 but my main variation here with 17.exf5 Bxf5 I noticed that I still need to play Rf8 to put pressure on the f2 pawn.
17.exf5
There is nothing better. 17.Nc4 is met by 17…Qa6 18.Bf1? (probably better is defending the e4–square with 18.Nd2 f4) 18…b5! 19.Nd2 (19.Na3 Nxe4 20.Nxb5 Qb6) 19…Qb6 20.a3 Bd7 black still gets the initiative.
17…Bxf5 18.Nc4 Qc7 19.Ne3 Bd7 20.Rc1
Obviously planning b2–b4.
20…a5 21.b3 b5 22.Qd2
Actually I was expecting 22.b4 axb4 23.Bxb4 Rxa2 24.Bxc5 Rfxf2!! as noted by the computer is a shocker.
22…Qa7
Pressuring the f2–pawn.
23.Bb2 Rf7 24.Re2 Raf8 25.Rf1 Bc8?!
Preparing for Bh6. I saw that 25…Bh6 26.f4 exf4 27.Rxf4 Bxf4 28.gxf4 white might get some play on the dark squares, but the silicon immediately saw 28…h6 and after Kh7, black can defend well.
26.Rc1 Bh6 27.Kh1 <D>
POSITION AFTER 27.KH1
This comes into a tactical grinder.
27…Bxh3!!
A shocker.
28.Bxh3 Ne4 29.Qd3 Rxf2 30.Be6+ Kh8 31.Rce1 Nxg3+ 32.Kg1 Nxe2+ 0–1
And now the tough Chinese FM Xu Zhihang.

Miciano, John Marvin (2260) — Xu, Zhihang (2344) [C54]
Asian Youth U18 Standard
Chiangmai (5), 04.04.2018
[Miciano, JM]

1.e4 e5 2.Nf3 Nc6 3.Bc4
After the game my opponent told me that he was expecting 3.Bb5.
3…Nf6 4.d3 Bc5 5.c3 0–0 6.h3 d6 7.Bb3
The moves 7.Bg5; 7.Nbd2 are all possible, but I just want to hide my favorite bishop, like in the Ruy Lopez.
7…Bb6 8.Nbd2 Ne7 9.Nc4 Ng6 10.0–0 Be6 11.Kh2 Bxc4 12.Bxc4 c6 13.Bb3 d5 14.Qe2 h6 15.g3 Qd6 16.Ne1
Intending to go to e3 via g2.
16…Nd7 17.Ng2 Rae8 18.Qf3
Preventing f5.
18…Nc5 19.Bc2 f5
After any other moves, for example 19…Kh8, white gets a strategically won position after 20.Ne3.
20.exf5 Ne7
I expected 20…e4 21.dxe4 Nxe4 22.Be3. After a long think, I decided to weaken the strong structure.
21.b4 Na6 22.g4 d4 23.Kg1?!
All of this is according to my plan. I saw a lot of tactics here, for example after 23.c4 Nxb4 24.Bb3 e4+ isn’t possible because after 25.Qf4 Qxf4+ 26.Bxf4 white will win a pawn.
23…dxc3 24.a3 Bd4
[24…Nc7 black should get an initiative]
25.Bb3+ Kh8 26.Be3
My original intention was to play 26.Ra2 and then double my rooks on the e-file, but I then saw something better.
26…Nc7 27.Rae1 Bxe3 28.Nxe3 Ng6?
Black should have played 28…Nb5. After the “obvious” 29.Nc4? he has the strong retort 29…Nd4.
After the text move white gets an advantage. We were already approaching time trouble. I believe that my opponent was looking at 28…Qxd3 29.Rd1 Qa6 30.Nc4 but then decided White gets too much initiative for the pawn.
29.Nc4 Qf6 30.Qg3 Nh4 31.Kh1! g6? 32.Nxe5 gxf5
[32…Rxe5 is the lesser evil]
33.Qxh4!
Now I win.
33…Qxh4 34.Ng6+ Kh7 35.Nxh4 fxg4 36.hxg4 Nb5 37.Nf5 Nxa3 38.Kg2 h5 39.Rxe8 Rxe8 40.Rh1 Kg6 41.Nd6 Re2 42.gxh5+ Kh7 43.h6 1–0
By the way, John Miciano is not the only Pinoy big winner in Thailand. The 14-year-old son of a motorcycle mechanic, Daniel Quizon, a student of the Dasmariñas High School, complemented him nicely with a silver medal finish. This is likewise an outstanding achievement given the fact that he was among the youngest participants in the event. And his aggressive style was very much in evidence, look at the way he took out the top favorite from Vietnam, IM Tran Minh Thang, in the second round.

Quizon, Daniel (2228) — Tran, Minh Thang (2406) [B24]
Asian Youth U18 Standard
Chiangmai (2.1), 02.04.2018

1.e4 c5 2.Nc3 a6 3.a4 Nc6 4.g3 e6 5.Bg2 Nf6 6.Nge2 Be7 7.0–0 0–0 8.d3 Rb8 9.d4 cxd4 10.Nxd4 Nxd4 11.Qxd4 d6 12.e5 dxe5 13.Qxe5 Bd6 14.Qe2 Qc7 15.Be3 Bd7 16.Rad1 Rbc8 17.a5 Bc6 18.Bb6 Qe7 19.Bxc6 Rxc6 20.Ne4 Nxe4 21.Qxe4 f5 22.Qa4 Rfc8 23.c3 Rc4 24.Qb3 e5 25.Rd5 Qe6 26.Rfd1 Be7?
Black should be relieving the pressure down the a2–g8 diagonal with something like 26…R4c6.
27.Bd8! h5
[27…Bxd8 28.Rxd8+ Kf7 29.Qxb7+ R8c7 30.R8d7+ wins]
28.Bxe7 Qxe7 29.Rd7 Qg5 30.Rxb7 Kh8 31.Rdd7 h4 32.Qd1 Rg8 33.Rb6 Rg4 34.Rdd6 Qh5 35.Rb4 e4 36.Rd5 Qf7 37.Rb6 e3 38.Qf3 exf2+ 39.Kxf2 Rf8 40.Rbd6 hxg3+ 41.hxg3 f4 42.Qxg4 fxg3+ 43.Ke2 Qf1+ 44.Kd2 Rf2+ 45.Ke3 Qc1+ 46.Ke4 Qe1+ 47.Kd4 Qd2+ 48.Kc5 Qe3+ 49.Qd4 Qe7 50.Rh5+ Kg8 51.Qd5+ Rf7 52.Kc4 Qc7+ 53.Kb3 1–0
We no longer have as many strong youngsters as before, but these two are shining examples of the Filipino abilidad.
 
Bobby Ang is a founding member of the National Chess Federation of the Philippines and its first Executive Director. A Certified Public Accountant, he taught accounting in the University of Santo Tomas for 25 years and is currently Chief Audit Executive of the Equicom Group of Companies.
bobby@cpamd.net

Celtics defense

The Celtics’ victory yesterday was significant for a good many reasons, but two stand out. First, they’ve proven that they can come out on top despite their failure to generate any consistent offense. Absent offensive stalwarts Kyrie Irving and Gordon Hayward, they often looked lost and out of their element producing points. It was certainly no coincidence that they hit just 42% of their field-goal attempts, and that the only two players on their roster to shoot better than 50% played the least in Game Five. Second, their inefficiency in canning baskets was more than offset by their tenacious effort at the other end of the court.
True, the Celtics under head coach Brad Stevens have been leeches in coverage. It’s why their net rating had hitherto been positive, and at times better, with Irving decommissioned. That said, they were especially tenacious yesterday, holding the Bucks to an atrocious 27.3% clip from downtown and 36.8% overall. And for all the otherworldly skills of Most Valuable Player candidate Giannis Antetokounmpo, he could not find any room to operate the way he did in Game Four. He managed to put up just 10 tries in 41 minutes of exposure, a horrifically anemic number given his importance to the cause.
After Hayward went down due to a freak injury early in his very first match for the Celtics, the prognosis for the league pioneers was unkind at best. And when Irving joined him in the sidelines, not a few pundits figured their season to be a lost cause. Given their heady stand so far against the Bucks, however, it has become clear that their capacity to play with house money cannot be questioned. And if they’re heading to the Bradley Center with a grand opportunity to close out their first-round set-to, it’s because they possess the confidence borne of their association with the sport’s greats.
Make no mistake. The Bucks are still alive, and can force a winner-take-all contest by holding down the fort in Game Six. To do so, however, they’re going to need to keep running their sets around Antetokounmpo anew; he’s too good to be used as merely a decoy. Conversely, he has to take it upon himself to be more aggressive. Stars avail of chances; unicorns create them. And if he’s the latter, then he should fulfill his mandate. At this point, there’s no other way for them to take the measure of the surging Celtics.
 
Anthony L. Cuaycong has been writing Courtside since BusinessWorld introduced a Sports section in 1994.

PAGCOR, other GOCCs recommended for review due to ‘conflicting’ functions

ABOUT 12 government-owned and -controlled corporations (GOCCs) are recommended to the President to be rationalized due to their conflicting regulatory and commercial functions.
The Governance Commission on GOCCs said that it includes the country’s gaming regulator.
“The Governance Commission has reviewed the mandates of 12 GOCCs in relation to competitive neutrality issues, as part of its commitment to the Philippine Development Plan (PDP) 2017-2022. Among the 12 is the Philippine Amusement and Gaming Corporation (PAGCOR) which the GCG has recommended to President Rodrigo Roa Duterte for separation of commercial and regulatory functions due to its conflicting proprietary activities and regulatory functions in which its operation of casinos conflicts with its function as a gaming regulator,” the GCG said in a statement yesterday. — Elijah Joseph C. Tubayan

PNP to heighten security in poll hotspots ahead of barangay, SK elections

The Department of Interior and Local Government (DILG) called for the Philippine National Police (PNP) to intensify its security measures, particularly in election hotspots, three weeks before the barangay and Sanguniang Kabataan (SK) elections on May 14.
“As the elections are drawing near, we expect that the political tension in the barangays will increase, especially among the candidates and their supporters. I therefore call on the PNP to conduct regular checkpoints and maintain police visibility as part of the measures to prevent election violence during the election period,” DILG Officer-in-Charge Secretary Eduardo M. Ano said in a statement on Wednesday, April 25.
PNP Chief Oscar D. Albayalde said: “We are already doing just that and we will intensify our visibility/sita and check point operations if need be.”
PNP also assured its preparedness in securing areas deemed as hotspots.
“Our deployed personnel are well prepared and are implementing the prescribed security measures based on the peculiarities of their respective areas,” PNP Spokesperson Police Chief Superintendent John C. Bulalacao said. — Minde Nyl R. Dela Cruz

PSE index sinks to 7,500 level on rising US yields

THE MAIN INDEX dropped to the 7,500 level on Wednesday, tracking global markets spooked by the continued rise in US yields.
The Philippine Stock Exchange index (PSEi) failed to hold early morning gains as it dropped 0.55% or 42.45 points to close at 7,557.91 Wednesday, Apr. 25, marking a fifth consecutive day of decline.
The broader all-shares index also gave up 0.48% or 22.34 points to finish at 4,595.43.
“Our index fell today below the 7,600 level as the 10-year US Treasury yield touched 3%, the highest level since 2014. Investors are liquidating shares since valuations have been really high since we peaked at 9,078,” Timson Securities, Inc. trader Jervin S. de Celis said in a mobile phone message on Wednesday.
Wall Street dropped sharply on Tuesday as warnings by bellwether companies of higher costs reverberated as the benchmark US 10-year Treasury yield pierced the 3% level for the first time in four years.
The Dow Jones Industrial Average fell 424.56 points or 1.74% to 24,024.13; the S&P 500 lost 35.73 points or 1.34% to 2,634.56; and the Nasdaq Composite dropped 121.25 points or 1.70% to 7,007.35.
Asian indices mirrored this downtrend, staying mostly in the red Wednesday, Apr. 25.
Regina Capital Development Corp. Managing Director Luis A. Limlingan also noted that the series of poor corporate earnings weighed on investor sentiment.
Local sectoral indices bled. Services fell by 1.51% or 23.56 points to 1,529.28, followed by industrials which slipped 0.93% or 101.30 points to 10,777.59.
Holding firms gave up 0.68% or 51.77 points to 7,489.06; mining and oil dipped 0.48% or 50.48 points to 10,292.65; financials went down by 0.27% or 5.45 points to 1,959.12; while property declined by 0.17 point to 3,514.67.
Value turnover stood at P6.21 billion after 1.7 billion issues switched hands. This is slightly higher than the P6.53 billion the market saw in the previous session.
Decliners outpaced advancers, 125 to 61, while 49 issues ended flat.
Net foreign outflows more than doubled to P370.53 million on Wednesday versus Tuesday’s P175.32 million. Wednesday, Apr. 25 also marked the fifth straight day of net foreign selling for the market.
Moving forward, Timson Securities’ Mr. De Celis said that investors are just waiting for fresh leads that will move the market. “I guess our market is just really waiting for the BSP (Bangko Sentral ng Pilipinas) to tweak rates by next month to combat the rising inflation which is the main worry of market participants since the accelerating CPI (consumer price index) could be a signal of an overheating economy.”
Among the day’s losers were Manila Electric Co., which fell by 3.88% to P307 each, and International Container Terminal Services, Inc., down by 3.77% to P85.40 apiece. — A.B. Francia with Reuters

PDEA to release watchlist of barangay officials involved in illegal drugs

The Philippine Drug Enforcement Agency (PDEA) is set to release its watchlist of barangay officials involved in illegal drugs within the week.
“Finally I will publish the list of barangay officials involved in drugs. It will published within the week. There are 216 of them and that is based on the PRRD (President Rodrigo R. Duterte) list,” PDEA Director General Aaron N. Aquino said during the launch of Balay Silangan pilot sites on Wednesday, April 25.
Mr. Aquino noted that the list was validated by PDEA and three other agencies, namely the Philippine National Police, the Armed Forces of the Philippines, and the National Intelligence Coordinating Agency, and is similar to the “narco-list” earlier mentioned by Mr. Duterte.
“As of this time, ginagawa ko pa kasi po yung adjudication process. And that’s the reason why hindi pa namin sila ma-file-an ng kaso (As of this time, the adjudication proceeding is ongoing, that is why we can’t file a case yet.),” Mr. Aquino said, stressing the need for a case build-up to file an airtight case. — Minde Nyl R. Dela Cruz

S&P hikes 2018 growth forecast for PHL to 6.7%

S&P Global Ratings has bumped up its growth forecast for the Philippines inspired by bets that consumption will pick up further this year, enough to offset a slowdown in exports and a possible shock from global trade row risks.
“We have revised our GDP growth forecast for 2018 up to 6.7%. We expect an acceleration of consumption this year, driven by continued strong demographic trends plus a boost from the income tax cuts, to counter a moderation in export contribution in the second half of the year,” the debt watcher said in its monthly report published last week. — Melissa Luz T. Lopez

AMLC pushes for national policy to fight money laundering, terrorist financing

The Anti-Money Laundering Council (AMLC) will spearhead the crafting of a national policy to combat dirty money and terrorist financing over the next two years, as part of the country’s compliance to global standards.
“As part of our compliance with the FATF Forty Recommendations, there is a need for the country to adopt a National Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) Policy Strategy. In this regard, the AMLC and member-agencies of the National ME WG shall actively participate in the drafting of a National AML/CFT Policy Strategy for the purpose of strengthening mechanisms to ensure compliance with international standards and effectively combat ML/TF,” the AMLC Secretariat said in its letter signed on April 20. — Melissa Luz T. Lopez

BDO enters into loan agreement to finance modern jeepneys

BDO Leasing and Finance, Inc. (BDOLF) has entered into a loan agreement to finance public utility jeepneys in line with the government’s jeepney modernization program.
In a disclosure, BDOLF said it partnered with fleet management firm Transport Equipment Aggregator and Management, Inc. (1-TEAM) to provide funding for five units of modern jeepneys dubbed as BEEP or “Bagong Jeepney.”
“BDOLF became the first privately-owned financial institution in the country to enter into a loan agreement to finance modern public utility jeepneys,” BDO Unibank, Inc.’s subsidiary told the Philippine Stock Exchange.
Currently, state-owned lenders Land Bank of the Philippines and Development Bank of the Philippines are the only two banks that have allocated funding specifically for the jeepney modernization program.
1-TEAM is the first and only fleet management company in the country to consolidate 30 jeepneys under a single fleet system. Its services include the provision of logistical support, manpower selection and training, equipment repair and maintenance as well as operation of public land transport services.
The BEEP units are air-conditioned and will be equipped with safety features such as speed limiter, closed-circuit television camera and global positioning system and among others. With a size almost as big as a mini-bus, the units can seat 24 passengers and will be outfitted with an automated fare collection system.
The BEEP units will be supplied by IKK Ichigan, Inc.
The modern jeepneys will be plying the routes from various SM Mall Terminals. At present, 1-TEAM’s fleet of jeepneys are already providing shuttle services from SM City Baguio, SM City Clark, SM City Marikina, SM City Sta. Mesa and SM City Fairview to various end points.
Under the jeepney modernization program, the government plans to replace all jeepneys aged 15 years or older with environment-friendly units equipped with safety features. Based on an initial study done by the Land Transportation Franchising and Regulatory Board, around 180,000 jeepneys will be phased out.
The plan drew flak from some jeepney operators, as numerous transport strikes were staged against it.
BDOLF posted a net income of P570 million in 2017, flat from the bottom line it saw the previous year, as its higher gross revenues were tempered by higher funding and operating costs. — Karl Angelo N. Vidal

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