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MPIC plans P30-B bond issue

By Arra B. Francia, Reporter

SYDNEY, AUSTRALIA — Metro Pacific Investments Corp. (MPIC) is planning to register P30 billion worth of bonds under the Securities and Exchange Commission’s shelf registration program, proceeds of which will be used partially for the funding requirements of its subsidiaries. 

MPIC, which has core investments in toll roads, power, water, and hospitals, said it will most likely offer P10 billion for the first tranche.

“Next year MPIC’s funding commitment is P30 billion to put into its subsidiaries. In fact we have the deadlines available for that. But I think as a minimum we want to do a shelf registration of P30 billion to give us flexibility. But I don’t think we’ll offer more than P10 billion of that next year,” MPIC Chief Finance Officer David J. Nicol told reporters in a briefing here last week. 

Proceeds from the bond issue will be used to finance MPIC’s capital expenditures worth P100 billion for 2018, which is almost twice what the company has allocated for 2017 at P56 billion. Of this, P38 billion will be for toll roads, P21 billion for Manila Electric Co., P12 billion for water, P17 billion for rail, and P6 billion each for hospitals and logistics. 

“We are talking with the ratings agency. We had a triple A rating, and then we didn’t issue bonds, but we reached a point where the level of bank debt in the projects was taking on without stripping necessarily the ability of the banking system to comfortably cater for it. So it’s time we started raising funds in the capital market,” Mr. Nicol said. 

A triple A score is the highest credit rating a company can receive, indicating its ability to meet its financial obligations. 

Mr. Nicol further noted its hospital unit is slated to conduct an initial public offering by 2019, but declined to disclose how much Metro Pacific Hospital Holdings, Inc. (MPHHI) will be raising through the activity. 

“I think we want to stay as the dominant shareholder in the play. Because a lot of the group, I think, has been built up partly on the back of Metro Pacific behind it, and so we’re not looking to waste anything so I would still see us holding 45% of it, so maybe a 15% selldown, something like that,” the MPIC executive said. 

MPHHI is currently expanding with a target to reach a capacity of 10,000 hospital beds through acquisition of smaller hospitals in the following years. 

MPIC is one of three Philippine units 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.

GS yields move sideways

YIELDS moved sideways last week as market players positioned ahead of the government’s retail Treasury bonds (RTB) offering which begins today.

Prices slightly picked up as yields on government securities (GS) dropped by 7.96 basis points (bps) on average week on week, data from the Philippine Dealing & Exchange Corp. as of Nov. 17 showed.

“The GS market was very quiet mainly because of the RTB issuance on Monday. Everyone’s watching for the success of the five-year RTB, initially at P30 billion,” said Helen G. Oleta, head of trust trading at Rizal Commercial Banking Corp. (RCBC).

For UnionBank of the Philippines (UnionBank) chief economist Ruben Carlo O. Asuncion: “Market activity was a little bit better as players returned from the holiday break coupled with the release of GDP (gross domestic product) data.”

“However, the market was quiet due to the annual convention of the Money Market Association of the Philippines (MART) [last] weekend. With the Bureau of the Treasury set to issue at least another P30 billion in bonds, anticipated added supply once again put upward pressure in yields,” he added.

Today, the Bureau of the Treasury will start offering P30 billion worth of five-year RTBs for a minimum denomination of P5,000.

Guian Angelo S. Dumalagan, market economist at Land Bank of the Philippines (Landbank) also noted of the correction that prevailed in the market last week amid data releases that surpassed expectations of analysts.

“Yields fell initially amid news about a potential delay in the US tax reform and caution ahead of the Philippine 3Q GDP data and the US inflation report, which was then expected to show a weaker reading.”

“However, yields failed to rebound, despite better-than-expected US and Philippine data, likely because the upward movement in yields a week ago was overdone, resulting in some downward correction [last] week.”

The economy expanded 6.9% during the third quarter, the Philippine Statistics Authority reported on Thursday, beating 6.6% market forecasts. At end-September, GDP growth stood at 6.7%.

At the secondary market on Friday, the yield on the 91-day Treasury bill (T-bill) fell the sharpest, by 46.26 bps to close at 2.2253%. It was followed by the 182-day note whose yield declined by 40.97 bps to 2.6085%. Yields on the four- and five year Treasury bonds (T-bonds) also decreased by 22.43 bps and 20.10 bps, respectively, to 4.7446% and 4.9179%, while that of the 364-day debt paper shed by 6.68 bps to 2.9950%.

On the other hand, the yields of the two- and three-year treasuries gained 13.89 bps and 25.43 bps, respectively, to finish with 4.5839% and 4.0718%.

The seven-, 10- and 20-year bonds also saw their yields rose by 2.83 bps, 8.11 bps and 6.61 bps, respectively, to 5.2804%, 5.4857% and 5.6411%.

This week, analysts expect GS yields to continue trading sideways.

“The expectation is every time there is RTB, there is a lull in the local market usually for a week or two… in a sense that volume of trades will be minimal mainly because a lot of people will focus on the issuance of the BTr,” said RCBC’s Ms. Oleta.

For Landbank’s Mr. Dumalagan: “Yields might move sideways, although with an upward bias, as the FOMC (Federal Open Market Committee) minutes might continue to affirm views of another US interest rate hike in December.” — Jochebed B. Gonzales

AirAsia eyes PHL flights to Russia via Vietnam

By Krista A. M. Montealegre,
National Correspondent

PHILIPPINES AIRASIA, Inc. is eyeing more routes from Vietnam after launching its inaugural flight from Manila to Ho Chi Minh over the weekend.

Philippines AirAsia Chief Executive Officer Dexter M. Comendador told reporters late Friday at the send-off ceremony in Pasay City the airline will evaluate the possibility of connecting Russia to the Philippines through Vietnam.

“I’ve been looking at Vladivostok for a long time. I told Tony about that. I’m looking for a route that would fit them in,” Mr. Comendador said, referring to AirAsia Bhd. CEO Tony Fernandes.

Vietnam attracted some 400,000 Russian visitors last year, according to reports, citing the former’s national tourism agency.

Philippines AirAsia flew its maiden flight from Manila to Ho Chi Minh late Friday. There will be three weekly flights scheduled every Tuesday,Friday and Sunday.

“We did our homework. It’s about time we do the route not only because of the possibility na kikita siya (it will earn) but because of our commitment to ASEAN,” Mr. Comendador said.

AirAsia is the only airline that directly flies to 10 member-countries of the Association of Southeast Asian Nations (ASEAN), with operations in the Philippines, Malaysia, Thailand and Indonesia.

Malaysia’s AirAsia is ordering an additional 14 Airbus A320ceo (current engine option) aircraft to meet strong demand in various markets, including the Philippines, Indonesia, and India.

Philippine operations stayed profitable in the third quarter — a seasonally lean period for airlines — as a result of its “pricing scheme” that resulted in higher than expected passenger load.

“It’s supposed to be a losing quarter, but this is the first time we did well,” Mr. Comendador said.

Peso likely to strengthen on US data, tax reform

THE PESO is expected to strengthen against the dollar this week as the greenback will likely be dragged by weak US economic data and recurrent political noise.

On Friday, the local currency moved sideways, losing five centavos to close at P50.95.

The week’s finish was better than the P51.245-per-dollar close recorded last Nov. 10.

Last week, the peso rallied to return to the P50-per-dollar mark, driven by the stronger-than-expected Philippine gross domestic product growth, which registered at 6.9%.

Traders interviewed over the weekend said the local unit might continue its ascent in the coming days as political developments in the US take toll on the dollar.

“In the first two days of the week, the dollar might decline further, as investors might stay away from the greenback due to negative concerns about the US tax reform and the alleged involvement of Russia in the US election,” Land Bank of the Philippines market economist Guian Angelo S. Dumalagan said in an e-mail over the weekend.

Mr. Dumalagan noted that while the issue on Russian interference in the US election will not have any significant effects in the Federal Reserve’s likely interest rate hike before yearend, the recurring noise about the possible delay to the tax reform which would slash corporate taxes “could potentially reduce the pace of US interest rate normalization by affecting inflation expectations, which currently remain subdued.”

Meanwhile, a trader said over the phone that the US data on durable goods orders might also drag the weak greenback.

However, Mr. Dumalagan added that the peso might drop starting Wednesday as market players expect US data to come out strong, tempering the effects of weak durable goods data.

Another trader said investors may also wait for hawkish statements from the Federal Reserve’s monetary policy meeting scheduled on Thursday.

Traders are expecting the peso to trade between P50.90 and P51.20, while Mr. Dumalagan gave a wider range of P50.80 to P51.20, noting that positive news about the US tax cuts, as well as better-than-expected data on durable goods, might reverse the weak dollar. — Karl Angelo N. Vidal

ABS-CBN reviewing performance of mobile business

By Patrizia Paola C. Marcelo

ABS-CBN Corp. is reviewing the performance of its mobile business, which continues to suffer from losses.

“We’re in the assessment phase. The whole business model is being reviewed… By January or February, we’ll have more or less an idea for the strategy of its mobile business,” ABS-CBN Chief Finance Officer Aldrin M. Cerrado told reporters last week.

ABS-CBN mobile, a mobile virtual network operator, was launched in 2013 following the Lopez-led company’s deal with Globe Telecoms, Inc., which provides the wireless network infrastructure while ABS-CBN pays a fee for its use.

As of Sept. 30, ABS-CBN mobile subscribers stood at 946,000.

Mr. Cerrado said the mobile unit’s losses this year will be around P100 million, but emphasized this is “way lower” than the initial losses amounting to P1 billion.

“We’re thinking a lot of ways in order for that business to break even,” he said.

ABS-CBN’s contract with Globe is up for renewal by next year, and discussions are being conducted.

Last year, ABS-CBN scaled down its mobile business following the huge losses and subscriber declines.

“ABS-CBN has to have a mobile strategy. We should be able to monetize our content… and maximize revenue potential in as many platforms as possible,” Mr. Cerrado said.

ABS-CBN Corp. reported a 20% decline in profit for the nine months ended September, as advertising revenues fell year on year versus last year’s election-related spending. Net income attributable to parent was P2.27 billion from January to September from P2.85 billion during the same period last year.

ABS-CBN’s digital and interactive media business, which includes online and mobile, remained weak during the first nine months of the year. As of end-September, the segment registered a net loss of P306 million, slightly lower than the P361-million net loss during the same period a year ago.

FEU stuns Ateneo, 80-67

By Michael Angelo S. Murillo
Senior Reporter

UNIVERSITY Athletic Association of the Philippines (UAAP) Season 80 hosts Far Eastern University (FEU) Tamaraws lived to fight another day after beating top-seeded Ateneo Blue Eagles, 80-67, in their Final Four opener yesterday to force a sudden-death match later this week.

Facing a twice-to-win disadvantage in their UAAP semifinal pairing, the Tamaraws played with the sense of urgency needed to hold off and survive the Eagles and negate the latter’s series edge and set up a winner-take-all on Wednesday.

FEU got it going collectively in the opening frame, getting contributions from all sources to take the quarter, 21-15.

The Eagles would eventually take flight in the second quarter to make it tight early in the canto.

Mike Nieto waxed hot from beyond the arc to help his team overtake FEU, 27-26, in the opening minutes.

But the Tamaraws would settle down and steady their ship, with Arvin Tolentino, graduating Ron Dennison and Richard Escoto showing the way.

They answered with a 10-2 run thereafter from which they eventually built a 38-35 advantage by the halftime break.

In the third period, Dennison once again led a Tamaraw charge that saw them outscoring the Eagles, 14-5, in the first six minutes to extend their lead to 12 points, 52-40.

The Eagles tried to claw their way back but the Tamaraws would continue to hold sway entering the final 10 minutes, 59-48.

Nieto started a mini run for the Eagles to open the payoff quarter, cutting their deficit to 10 points, 66-56, with six minutes remaining in the game.

Escoto though would not allow the Tamaraws to fold as he helped muscle his team to a 17-point advantage, 75-58, in the next three minutes.

That proved to be enough cushion for FEU as it surged to the win and set up the rubber match.

Dennison led FEU with 17 points, eight rebounds and three assists while Tolentino had 13.

Hubert Cani finished with 11 with Prince Orizu and Escoto adding 10 and nine points, respectively.

Thirdy Ravena paced Ateneo with 17 followed by Nieto with 13 and his brother Matt 11.

“We really prepared hard for this game so we were confident heading into it. But we have not accomplished anything yet. We just put ourselves in a position to get a chance to advance to the finals. And we are just excited for Wednesday’s game,” said winning coach Olsen Racela after their win.

The winner-take-all on Wednesday begins at 4 p.m. at the Mall of Asia Arena.

Winner of the Ateneo-FEU semifinals will face the defending champions De La Salle Green Archers in the finals beginning on Saturday, Nov. 25.

La Salle advanced to finals after defeating the Adamson Soaring Falcons, 82-75, last Saturday.

Budget, tax reform in Senate, ahead of bicam talks

IN WHAT is expected to be at least three weeks left for Congress to pass the priority legislation of President Rodrigo R. Duterte’s administration, the Senate this week is expected to tackle amendments to the 2018 national budget and to the tax-reform program, its leaders said.

“We discussed what will be taken up until the last day of Dec. 15,” said Senate Majority Leader Vicente C. Sotto III.

“Budget amendments will be taken up [Nov.] 20-21,” Mr. Sotto said, adding, “Nov. 22-23 will be devoted to TRAIN (Tax Reform Acceleration and Inclusion program). The week after that, we can devote our time to other bills pending, [but] those are the two bills that we need to pass before the end of the year, and during the time that we are taking this up, ay nag ba-bicam na ang dalawang panel (both chambers of Congress will have been holding their bicameral meetings).”

Committee leaders in the House of Representatives also acknowledged when sought for comment that the chamber is preparing for bicameral conference discussions on the budget and the TRAIN — both balls now being in the court of the Senate, which is expected to pass those measures on third and final reading.

“Yes, we’ve been prepared… We’re doing some extra research — a little bit of research on [the] legal aspects… It’s just a preliminary research,” Quirino lone district Representative Dakila Carlo E. Cua, chair of the House committee on ways and means, said of the tax-reform measure being tackled by the House anew. The House had passed its version of TRAIN last May.

“I don’t think [the changes] will be very significant because… we made room already for the… P40-billion allocation for free tuition. I think there won’t be a lot of point of discussion anymore,” Mr. Cua said in anticipation of the Senate version.

For his part, Davao City 1st district Rep. Karlo Alexei B. Nograles, chair of the House committee on appropriations, said of the budget: “Definitely we have to go on bicam if it’s a different version but on whether when that will happen, obviously, the sooner the Senate finishes their version, the sooner we can schedule a bicameral conference committee.”

While the budget and TRAIN are the priorities, Mr. Nograles said the House can also pass other measures before Congress adjourns on Dec. 15 — among them, free irrigation, utilization of the coco levy fund, and estate tax amnesty bills.

“[There are] several other bills…that we hope to be able to pass by second or third reading before we adjourn for the Christmas break,” Mr. Nograles said.

Asked if this is doable for the chamber, he said: “We in the House of Representatives, we don’t have a problem with that because we act fast.”

For his part, Senate Minority Leader Franklin M. Drilon said in an interview with reporters on Sunday, Nov. 19: “Magiging transparent ang Senado. Yung amendments ay pag-uusapan in open session. Hindi katulad dati na ang amendment ay pinag-uusapan lang sa loob ng komite at ipiprisinta sa floor (The Senate will be transparent. Amendments will be discussed in open session unlike before that amendments were discussed within the committee and would be brought to the floor afterwards).”

“Ngayon po ay ipi-prisinta sa floor at aming pag-uusapan item-for-item para sa transparency at para sa pagbabago ng budget (Now, it will be presented to the floor and we will discuss it item-for-item for the transparency of the changes that will be made in the proposed 2018 budget),” he added. — Arjay L. Balinbin and Minde Nyl R. dela Cruz

Ancajas makes another successful title defense

By Michael Angelo S. Murillo
Senior Reporter

IT was a third successful title defense of the International Boxing Federation (IBF) world junior bantamweight title for Filipino Jerwin “Pretty Boy” Ancajas after he stopped by technical knockout challenger Jamie “Irish Gatti” Conlan in the sixth round of their fight early yesterday morning in Belfast, Ireland.

Fighting in enemy territory, Panabo City native Ancajas showed it hardly mattered as he dominated the Irishman right from the get-go, sending the latter to the canvas four times throughout the duration of the title clash.

Mr. Conlan first went down in the opening round albeit from some discomfort and not necessarily from a hit by Mr. Ancajas. The hometown bet eventually was able to continue the fight.

In the second and third rounds, Mr. Ancajas continued to batter his opponent with steady hits on the head and body and eventually sent Mr. Conlan down in the third frame.

The fourth saw the 25-year-old Filipino champ being calculated but his potency continued, peppering Mr. Conlan with combinations en route to sending him down anew as the round drew to a close.

Mr. Conlan showed better form in the fifth but the true champion that he is, Mr. Ancajas would adjust and stem the tide anew in his favor as the round progressed.

The sixth round turned out to be the end for Mr. Conlan as his aggressiveness did not work as he got a solid right to the side of the head from Mr. Ancajas as he pressed forward, sending him to the canvas for a fourth time and prompting the referee to wave off the fight and proclaim Mr. Ancajas the winner.

With the win, Mr. Ancajas improved to 28-1-1 while dealing Mr. Conlan (19-1) his first career defeat.

It was the third successful defense for Mr. Ancajas of the title he seized from Puerto Rican McJoe Arroyo in September last year, after wins over Mexican Jose Alfredo Rodriguez in January and Japanese Teiru Kinoshita in July.

The win was also his 15th straight.

THINGS BODE WELL
After a successful title retention, one local combat sports writer and observer believes things bode well for Mr. Ancajas moving forward and that he is one fighter that local fans should look at as the next big Filipino boxing champion.

“Ancajas showed in this fight that he could beat his opponents in a variety of ways. In the first two rounds, he out-punched Conlan who was expected to be the aggressor heading into the fight. Then he outboxed the Irish outside the distance with his footwork which threw him off his timing before finishing him in the sixth,” said Mike Miguel, who writes for local sites DojoDrifter.com and Tiebreaker Times, when asked by BusinessWorld for his thoughts on the fight.

“His versatility alone can earn the Pinoy boxing fans’ admiration. And if this trend continues, Ancajas has the makings of a future star in boxing,” he added.

House unlikely to OK right to counsel for Sereno

THE House Justice panel will rule, before Wednesday’s (Nov. 22) hearing on determination of probable cause in the impeachment complaint against Chief Justice Maria Lourdes P.A. Sereno, whether to grant two similar motions seeking to allow Ms. Sereno’s lawyers to cross-examine witnesses for her.

However, in the view of Justice committee chair Representative Reynaldo V. Umali — apparently confident the panel will reject in a vote the two motions — Ms. Sereno will be at a terrible disadvantage if she insists on not appearing personally or not confronting the witnesses against her.

“You know, the right to counsel happens in the actual trial. Pero… wala pa tayo sa trial [But we’re not yet in the trial stage]. [This seems akin to a] preliminary investigation [but it’s not a] preliminary investigation,” Mr. Umali said in a radio interview Sunday, as Ms. Sereno’s lawyers, with backing from Albay Representative Edcel Lagman, insist on allowing the chief magistrate to field her counsel to the hearing.

Mr. Umali said, “Hindi established ang mga rights dito to counsel [the rights to counsel are not established here]. And unfortunately, under our rules, we do not allow lawyers to speak. So [that’s what we’ll have to resolve, whether or not to allow this]. Pero [But] at the end of the day, it will be the vote of the majority that will be followed.”

The Justice panel chief continued, in his DZBB interview: “Unfortunately for the respondent… I’m just thinking aloud, [there is a] super majority and [it won’t be easy, as they say, to pass something like that; to let that motion win in a vote].”

He said “whatever will be the majority vote, will be the basis of our decision.”

In his position paper last week, Mr. Lagman had said that the process of determination of probable cause in an impeachment is akin to that in a criminal case. Mr. Lagman, a lawyer, said to prohibit Ms. Sereno from deploying her lawyers to cross-examine witnesses against her would render useless the right to counsel enshrined in the Bill of Rights.

Mr. Umali acknowledged the similarity, but stressed that an impeachment is sui generis [in a class of its own].

“In fact, it cannot be a criminal case [because the respondent in this case is not jailed; we don’t have the power to order his/her jailing].” Instead, Mr. Umali said, “this is also akin to [an] administrative case [where removal from office is the punishment for the respondent].”

Thus, he concluded, “it’s neither criminal nor administrative, anywhere in between that,” and that is why he does not think the so-called right to counsel repeatedly invoked by Ms. Sereno’s lawyers and by Mr. Lagman would apply in this case. “And more than that, if I may say so, siya ay respondent lang, siya ay hindi akusado [she is just a respondent here, not yet accused].”

The Sereno camp had earlier floated the possibility that the Chief Justice may take her case before her own peers and seek the en banc’s opinion on the unprecedented debate.

Mr. Umali, however, noted that the Constitution clearly does not grant the SC any jurisdiction on impeachment cases. He said the Charter states “the impeachment court is the sole judge of any issues pertaining to impeachment. So [maybe] the more appropriate venue” for raising the issue “should be the impeachment court and not the Supreme Court.”

He said that for one thing, Ms. Sereno is not entirely helpless even though there is a super-majority in the House that is apparently against her. The requirements of strong evidence will still be imposed on the complainants, and the “ground of course [is] defined… under the Constitution and the rules. Culpable violation of the constitution, graft and corruption and other high crimes, betrayal of public trust.”

In his view, said Mr. Umali, simple probable cause just won’t do, “dapat merong [there should be] prima facie evidence. Pero ang sinasabi ng rules namin ay probable cause lang [and yet our rules require only probable cause].”

He expressed hope Ms. Sereno will reconsider and personally attend Wednesday’s hearing to determine probable cause.

“If she does not attend, it’s her own lookout [because] I don’t know how [the] allegations or charges against her can be controverted without her attendance…. Under the rules… the lawyers are not allowed to speak for the respondent…. So if she does not attend, whatever is presented to us cannot be controverted” and will be included in the report that becomes the basis for voting on probable cause.

The justice committee plans to finish its hearing on Ms. Sereno’s possible impeachment case before the year ends.

Mr. Umali said the committee intends to “do it simultaneously” while hearing other bills and clarified that Ms. Sereno’s impeachment, if it pushes through, will not impede the passage of the 2018 National Budget and the Duterte administration’s tax-reform program. — News5/interaksyon.com, with Minde Nyl R. dela Cruz

Sacrifice, collective belief in itself key for San Beda

THE men’s basketball for National Collegiate Athletic Association (NCAA) Season 93 drew to a close last Thursday with a familiar face in the San Beda Red Lions on top. It is a direct result, they said, of the sacrifice they made all season long and the firm belief that if they stuck to their system and played to their potential, especially on defense, they will be hard to stop.

Taking Game Two of their best-of-three NCAA finals with the Lyceum Pirates, 92-82, the Lions completed a sweep of the championship affair over a team which ironically swept the elimination round and got a direct pass to the title series.

San Beda showed tremendous resolve in Game Two to stay the course despite their struggles early and paraded their championship experience down the stretch to claim its 10th title in 12 years in the NCAA and 21st men’s crown all time, the most in league history.

Robert Bolick led the Lions in the championship-clinching victory with 18 points, including a big three-pointer with less than a minute to play that all but sealed the win for them, to go along with five rebounds and six assists.

Foreign player Donald Tankoua continued with his solid play in the championship, finishing with a double-double of 17 points and 17 rebounds. He was named finals most valuable player later.

Graduating and pro-bound Davon Potts had 15 points in his final NCAA game while AC Soberano and Javee Mocon had 14 and 11 points, respectively.

Seeing how his players worked hard and stay committed to what they were trying to achieve all season long, Lions coach Boyet Fernandez gave much credit to his wards for their latest achievement.

“This championship would not have happened if not for my players. They deserve to win this because they really worked hard for it,” the coach said following their championship celebration on the floor of the Smart Araneta Coliseum.

“They sacrificed for 11 months and we know throughout the course of the season there were people who doubted us but this team never doubted itself. We know we did not sweep but at the end of the day what was important was winning the championship and we did it through defense. Defense always wins over offense,” Mr. Fernandez added.

The coach went on to say that the fact that the transition did not come easy for him personally, the championship made it all the more special.

“The adjustment was tough for me because they were previously handled by a good coach in Jamike Jarin and we were to defend a title. It was a different team, different system. We made tweaks along the way and thankfully it worked for us,” said Mr. Fernandez, who has now won three titles for San Beda – 2013, 2014 and 2017. — Michael Angelo S. Murillo

Duterte says he’ll fire more corrupt officials

PRESIDENT Rodrigo R. Duterte criticized anew certain corrupt officials who he said used public funds in their unauthorized travels.

In a press conference in Davao City on Saturday, Nov. 18, Mr. Duterte said he has “a lineup” of government officials who will be fired this week.

“All those guys who have been using money of the government, just easily going in and out of travel upon the invitation maski sinong (whatever) seminar-seminar and they are easy really just to, some of them without getting a permit and wasting the money of people,” he said.

Mr. Duterte said, to spare them from humiliation, he will not name those officials and the dismissal will be done privately.

He added: “I have to ask them to resign. If at all, kung gusto man (if they like), kokonti lang (just a few) and those important meeting. But like yung basta na lang na (suddenly) there’s a seminar about whatever — about farming, about corruption, about business, eh hindi natin pera yan eh (that’s not our money),” he added.

Mr. Duterte is known to have already fired not a few of his known associates because of alleged corruption.

“When I said na walang corruption, wala talagang corruption. I will undress you before the public. Hubaran talaga kita. Yan ang sakit ko. Pahiyain kita. (When I said there is no corruption, there is no corruption. I will undress you before the public. That’s my flaw. I will shame you.),” he said

“So, when I say to you to resign, go out silently para walang (so that it will be)… less bloody para sa atin (for both of us).” — Rosemarie A. Zamora

Lausa absorbs unanimous decision loss at UFC Sydney

IT was a losing return for Filipino mixed martial arts fighter Jenel “The Demolition Man” Lausa to Australia yesterday as he was dealt a unanimous decision loss by American Eric “Showtime” Shelton at “UFC Fight Night 121” in Sydney.

While he was victorious in his debut UFC outing Down Under last year in Melbourne, things did not go Mr. Lausa’s way this time around with Mr. Shelton proving to be a hard nut to crack, securing the UD victory and his first in the UFC, 30-27, 30-26 and 30-25.

Mr. Lausa started strong, connecting with a solid head kick early and securing a takedown thereafter.

But as the fight progressed, Mr. Shelton, a standout in the Ultimate Fighter series, would take control and outwork the Filipino.

He took down Lausa in the second round and dominated thereafter with heavy blows.

The ground-pounding by Mr. Shelton continued in the third and final round even as Mr. Lausa seemed to tire out as the fight wound up.

When the smoke cleared, it was Mr. Shelton’s hand that was raised as the winner.

The win improved Mr. Shelton to 11-4, stopping a two-fight losing streak.

Mr. Lausa, meanwhile, dropped to 7-4, 1-2 in the UFC.

With his second consecutive loss in the UFC, DojoDrifter.com and Tiebreaker Times’ Mike Miguel said the work continues for Mr. Lausa, especially on the ground where he seems to be having a hard time against top talent in the UFC.

“We know that Jenel has the power to knock his opponents out. This is why his past two opponents chose to outwork the physically gifted Lausa on the mats and not risk getting knocked out,” observed Mr. Miguel.

“In this fight, Lausa was taken down by Shelton on multiple occasions and was forced to defend himself on the ground. Moving forward, Jenel has to continue working on his takedown defense and his ground work in order to complement his bread-and-butter strength as a fighter,” he added.

UFC Fight Night 121 was headlined by the heavyweight clash between former champion Fabricio Werdum (#2) and Marcin Tybura (#8). The two were still to fight as of this writing.

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

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