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Ex-mayor cleared of malversation in ‘honest mistake’

THE SECOND Division of the anti-graft court Sandiganbayan has acquitted former Malimono, Surigao del Norte mayor Clemente Sandigan, Jr. of malversation in connection with the alleged misuse of the ‘pork barrel’ of Sen. Robert Barbers in 2004. In its 27-page decision promulgated on Aug. 22, the Second Division said the prosecution failed to prove that Sandigan pocketed the P700,000 fund from the Priority Development Assistance Fund of the late former senator. — philstar.com

See full story on https://goo.gl/sXFKSx

Second tax package to target eco-zone tax holiday loopholes

PACKAGE TWO of the comprehensive tax reform program will eliminate a loophole that allows companies to shift expenses in order to maximize profits earned by projects enjoying tax holidays.

Finance Undersecretary Karl Kendrick T. Chua said that some firms abuse the tax holidays granted to them by investment promotion agencies such as the Board of Investments (BoI) and the Philippine Economic Zone Authority (PEZA), among others.

“If I am a conglomerate or a business there’s a line that is subject to income tax holiday and so I don’t pay tax. And then there’s a line or project that is subject to the regular (rate). So what is keeping me from moving my expenses from the project that has income tax holiday to the regular so that I can pad my expenses?” Mr. Chua told reporters on the sidelines of the Economic Journalists Association of the Philippines Economic Forum last Friday.

“So that is the leakage, an example that happens when you have a dual system,” he added.

Some income tax holidays given by PEZA involve the exemption of accredited firms from the 32% corporate income tax, and instead paying a lower 5% special tax on gross income. Tax perks under the BoI involve the exemption from taxes and duties on imported spare parts, wharfage dues, and tax credits, among others.

Mr. Chua said that the Finance department is currently reviewing data on these incentives generated by the Tax Incentives Management and Transparency Act, to determine whether benefits from the fiscal perks are reinvested in the Philippines.

He said earlier that the review will be completed within the third quarter, and will be submitted as a proposal to Congress by the fourth quarter.

The first package remains pending with the Senate committee on ways and means.

The department said it is ready to handle simultaneous deliberations when the second package is submitted.

The package, which is expected to be revenue neutral, would leave the government P500 billion in foregone corporate income tax by reducing the top rate from 32% to about 25%, but will be compensated by the same amount by withdrawing some tax perks according to Mr. Chua.

“It’s offsetting. What we recover is going to be used to reduce the corporate tax rate for it to be balanced and fair. So that’s the idea. There would be no (additional) revenue, or little,” he said.

Finance Secretary Carlos G. Dominguez III has said that the fiscal incentives will be performance-based, and targeted to firms that reinvest their tax savings in the Philippines, generating more jobs and taxes. — Elijah Joseph C. Tubayan

Martinez finds silver lining in first SEA Games

THE gold medal did not go to Southeast Asian (SEA) Games debuting figure skater Michael Martinez but his experience in Kuala Lumpur, Malaysia, was something he said would only serve him better as he moves on with his career.

Martinez finds silver lining in first SEA Games
Figure skater Michael Martinez in action at the 29th Southeast Asian Games. — PSC-POC MEDIA GROUP

Earning a silver in the men’s individual figure skating, Mr. Martinez said that while a gold medal would have been better, still he felt what they wanted to achieve in the regional biennial sporting meet were met and that all told he was satisfied with his performance.

“I felt happy and excited to be competing in the SEA Games, representing the Philippines. As for my performance I feel I could have done better but yet again this is my first time to include quads in my program and visually I made it. I landed and that’s one of the goals heading into here so as to prepare me for the next competition. And I have to say I’m satisfied with my performance,” Olympian Martinez said following his silver-medal showing.

Infusing a new program for the SEA Games, Mr. Martinez struggled in his routine that left him to settle for the silver with a total score of 176.63 points in his event over the weekend, behind gold medalist Julian Lee of Malaysia, who tallied 205.43 points.

“Basically this was the first time I was trying out my new program in a competition. This is so far the hardest among all the programs I have ever done,” he said.

“It usually takes three to four months to master the routine. This was the first time I included quads (jumps) in my program so there were still some refinements to do in my transition,” added Mr. Martinez even as he shared that he felt gold medalist Lee did not take risk that way he did.

Just the same, Mr. Martinez said his first SEA Games was very memorable in so many ways and that he is looking forward to competing in it again here in the Philippines in 2019.

“It was a memorable experience which I hope I can repeat two years from now in Manila where I definitely will go out to win the gold,” he said.

Next for Mr. Martinez is the Nebelhorn Trophy in Germany next month where he hopes to do well to be able to qualify for the Winter Olympics in 2018.

Back in 2014, Mr. Martinez made history by becoming first Southeast Asian skater to compete in the Olympics. — Michael Angelo S. Murillo

Sta. Lucia plans condotel in Silay

By Victor V. Saulon, Sub-Editor

STA. LUCIA LAND, Inc. is looking to build in Silay City, Negros Occidental a medium-sized condotel, which its president believes would be a pioneering project in the culture-rich city known for its ancestral homes.

Sta. Lucia President Exequiel D. Robles said his plan, although for the long-term, will form part of the 67-hectare La Alegria project of the company in partnership with a local property developer.

“For now, the project is focused on land development,” he said in an interview on the sidelines of La Alegria’s launch last week.

La Alegria is offering 1,101 residential lots with sizes ranging from 150 square meters (sq.m.) to 300 sq.m., and 83 commercial lots, ranging from 500 sq.m. to 1,000 sq.m. Lot prices start at around P4,000 to P5,000 per sq.m.

“But later on, I have an area there, the corner lot, which I have reserved for commercial purpose. I might build a condotel or a hotel,” he said in Filipino.

Although La Alegria is largely being developed for its residential lots, Mr. Robles has reserved about a hectare fronting the main road for commercial projects, specifically for retail, office or condotel development.

While he was not aware of other commercial projects in Silay City, aside from a proposed theme park that has yet to start, Mr. Robles said the proposed condotel, or a condominium being operated as a hotel, would be “pioneering” in the area.

The land on which La Alegria is to be developed is owned by local company Claudio Lopez, Inc., a family-owned real estate firm in Negros Occidental.

Claudio Lopez’s first venture was in 2010 when it built a subdivision catering to the middle and upper market segments. Its second project — a socialized and economic subdivision — started in 2014.

Like Sta. Lucia, Claudio Lopez has a share of the commercial lots, which the developer has not sold.

“We held on our share. Hindi namin binenta (We did not sell),” said Michael J. Valderrama, general manager of Claudio Lopez. “Hopefully, magawa naming (we can turn it into a) commercial (development).”

Mr. Valderrama said the company will consider the best option for its share in the La Alegria project within the next five years.

Sta. Lucia expects 50% of the lots being offered under La Alegria to be sold within a year from its official launch on Sept. 8. The company has placed the development cost of La Alegria at around P400-P500 million, which will cover the construction of facilities, electrical and water lines, drainage and the man-made lake.

“Right now, the concentration really is on residential development. So we’ll keep the commercial properties maybe at bay first,” said David M. dela Cruz, Sta. Lucia executive vice-president and chief financial officer.

“We’re still thinking about what strategies [are] best suited to maximize these commercial properties,” he said.

The options are either to lease them out to bigger retailers, an outright sale or to operate the properties and replicate the company’s experience in the Sta. Lucia Mall in Cainta, he said.

St. Luke’s to up budget for hospital at Azuela Cove

ST. LUKE’S Medical Center said it could spend more than the initial P2.79 billion it allocated for a new facility it is building with Ayala Land, Inc.’s township in Davao City.

Ayala Land Assistant Vice-President Enrique B. Manuel, Jr. — CARMENCITA A. CARILLO

Part of Ayala Land’s Azuela Cove is the 100- to 250-bed St. Luke’s Hospital which will start construction next year and is targeted for completion by 2020.

“The original budget of P2.79 billion will not be enough. Maybe we will have to exceed that anywhere from P4-P5 billion including equipment,” St. Luke’s President and CEO Edgardo R. Cortez said in an interview.

The company executive, a doctor, said among other things they have to consider in the budget are gas piping, vacuum systems and elevators.

Noting how expensive medical equipment is, Mr. Cortez said the hospital has a radiation facility equipment costing already P280 million, while a robotic surgery equipment will cost nearly P400 million.

“We will offer almost all services (in Manila) but not everything, specialty services, like heart, cancer, surgery, all the basic things geared towards sub-specialties,” he said.

Mr. Cortez explained sub-specialty services as “for instance if you go under training for internal medicine, they consider that your specialty.”

“But you can go to a sub-specialty like cardiology, nuclear medicine, different very specific kinds of doctors who can treat problems in those specific areas, like you can go under surgery but under that you can go to a sub-specialty like liver surgery, cancer surgery.”

He said the group wants to bring the concept of sub specialty in the city because “we feel if you have these sub specialties, the people who can do all these things, you give them the best equipment that would be an added assurance to the patients, that we can give you a better quality of health care, hopefully, better success rates.”

Mr. Cortez said Alcantara and Sons, Inc. President Edith I. Alcantara invited them and “showed us this place more than a year ago and they wanted us to present what St. Luke’s is all about.”

“They said it would be a good thing if we can build a hospital here, so we have to study if there is really a need for us to be present here.”

St. Luke’s conducted a market survey and found out that none of the hospitals in the city now can address all of those since one hospital can have the equipment while another hospital can address only the expertise requirement.

“When we looked at what we have and what we do best, all of those are our expertise, and so if they are asking for that then maybe we have a place in Davao,” he said.

He said they intend to bring their expertise and specialization here so that the people of Davao will no longer have to go to Manila anymore. St. Luke’s is eyeing the Davao market and the rest of Mindanao. However, it is also eyeing medical tourism for the Brunei, Indonesia, Malaysia, Philippines-East Asean Growth Area.

Once established, St. Luke’s Hospital in Davao will price its services lower than Manila rates to keep up with local competition. “This is a different market, we can’t price it the same way, market forces will dictate the price, we will make the price competitive with current hospitals in Davao,” he added. — Carmencita A. Carillo

Texas Chain Saw Massacre director Tobe Hooper, 74

LOS ANGELES – Movie director Tobe Hooper, best known for The Texas Chain Saw Massacre and Poltergeist horror films, died in California on Saturday, US media reported. He was 74.

The cause of the director’s death in the town of Sherman Oaks was not announced, the Hollywood industry magazine Variety reported.

Hooper, a native of Austin, Texas, was a college professor and documentary producer before branching out in 1974 to direct The Texas Chain Saw Massacre, one of the most influential films of the horror genre.

The film, shot for less than $300,000, was banned in several countries for its extreme violence but nevertheless was one of the most profitable independent US films of the 1970s, Variety said.

Such bans only added to the film’s aura, but it was Hooper’s stylish directing that really got the box offices moving.

The movie was in part based on the true story of a serial killer, called “Leatherface” in the film, who skinned his victims and used some body parts as household decorations.

William Friedkin, who directed that other iconic 1970s horror movie The Exorcist described Hooper, in a tweet, as “a kind, warm-hearted man Who made the most terrifying film ever. A good friend I will never forget.”

Hooper also directed the 1986 sequel, The Texas Chain Saw Massacre 2, which had a more lighthearted approach.

In 1982, Hooper directed the supernatural horror movie Poltergeist, a film written and produced by Steven Spielberg. The movie had an $11-million budget and grossed $76.6 million, according to the Internet Movie Database (IMDb).

With his beard, oval glasses and gentle smile, Hooper did not appear to be the kind of person to strike fear into anybody, but his films certainly did and his films have become classics of the genre.

He went for a very realistic cinematic approach, with the attention to detail as important as the violence on screen and the chilling soundtrack which accompanied it.

The name The Texas Chain Saw Massacre told cinemagoers what they could expect, a technique repeated throughout Hooper’s filmography which also includes titles like Spontaneous Combustion (1990), The Mangler (1995), and Crocodile (2000).

In the 1990s Hooper did a lot of work for television, including episodes of Tales from the Crypt and Dark Skies.

He made his final film Djinn in 2013, a horror movie set in the United Arab Emirates and produced in both English and Arabic but which was released on video.

The late director is survived by two sons, Variety said. – AFP

AWEN and its role in ASEAN

It is a tall order to gather the needs of over 300 million women in ASEAN so that policy changes may be suggested to policy makers in the 10-member states.

But in 2014, an excellent idea was proposed to create a network among the women organizations in the private sector as well as endorsements from women’s ministries and agencies. This was the creation of the ASEAN Women Entrepreneurs Network (AWEN) by the ASEAN Committee on Women (ACW), thus making the network a true daughter of the regional group.

AWEN is composed of 10 focal points — what the persons representing each member state is called. The Focal Points (FP) are from prime women business organizations, chosen by the Ministry of Women or its equivalent and are tasked to deliver issues to AWEN and take back possible policy solutions to their constituents. Policy changes affecting women in business are supported by AWEN’s collaboration with the other private sector group called ASEAN-Business Advisory Council (ASEAN-BAC). The agency is interested in supporting AWEN and has already invited AWEN to take a seat in its Joint Business Councils (JBC). This interesting development allows the women agenda to be discussed among many business councils of dialogue partners and makes possible the inclusion of women’s interests in all business discussions. The ASEAN BAC represents the big business groups while AWEN may be representing the MSMEs.

AWEN went through some challenges in choosing the private organizations to be consulted in each member state. Most countries had more than one women’s organization. This made it difficult to choose one over the other in the spirit of true representation. During the chairmanship of the Philippines (2016-2018), we championed an idea to create an umbrella group or organization called Philwen.

Soon Thailand followed suit with AWEN Thailand. And just recently Cambodia is in the process of creating Cambodia AWEN. Myanmar is also on the way to achieving this unification among its women groups. It is our hope that the other countries soon follow to make AWEN truly representative of Asean’s 300 million plus female population.

The other advantage of having just one network for ASEAN women is in connecting with the rest of the world. Already India’s FICCI-FLO or FICCI Ladies Organization (the women chapter of the 90-year-old Federation of Indian Chambers of Commerce) invited us to be represented in the Delhi Dialogue which desires to connect to businesses in ASEAN.

In September, the rest of South Asia — a group called the South Asian Women Development Forum (SAWDF) has invited AWEN members as speakers and as delegates in the first forum to be held in Kathmandu, Nepal.

And ASEAN is moving along as it celebrates its 50th year and with the Philippines as host country. ASEAN officials now have recognized that women’s issues need to be included in economic discussions with economic ministers and later with the leaders, of course.

Also in September, AWEN is invited to connect with businesswomen of Ulaanbaatar, Mongolia. The possibilities keep coming our way because the time has come for women to claim their place and influence the laws that will benefit women-owned enterprises, women workers and female executives.

It is with pride that we celebrate AWEN’s fourth year with the 3rd AWEN Business awards for women and the conduct of the ASEAN women’s business conference this August in Manila since the Philippines is the host country for this year — ASEAN’s 50th anniversary. The women in the Philippines are known to be trailblazers both in the MSME sector as well as the corporate executive community. That said, the Philippines will make sure that policies proposed by AWEN members will be discussed at high level official meetings. This will make all the member states adopt a resolution or a policy imperative to benefit women entrepreneurs throughout ASEAN.

We hope to carry the suggestions forward to the ministers and leaders in the hope that women’s concerns may be addressed. The region-wide concerns will be addressed through policy changes and reforms that will benefit each woman entrepreneur who will affect the greater population of girls and women who number about 300 million in the 10 member states.

AWEN may be the key to open the opportunities and fix the many challenges women face in simply doing business to make a living, to make a difference and to make ASEAN women internationally competitive and successful.

For more information, you may e-mail awen.asean@gmail.com or log on to www.awen-asean.org or find us on Facebook: AWEN-Asean Women Entrepreneurs Network.

The article reflects the personal opinion of the author and does not reflect the official stand of the Management Association of the Philippines or the MAP.

Pacita “Chit” U. Juan is the Chair of the Trade, Investments and Tourism Committee of the Management Association of the Philippines (MAP). She is the Chair of the ASEAN Women Entrepreneurs Network (AWEN); Chair of the Women’s Business Council of the Philippines (Womenbizph); and Founding Chair of the Women Corporate Directors PH chapter.

You may reach her at

Linked in: Pacita Juan

or Twitter @chitjuan

puj@echostore.ph

admin@womenbiz.ph

map@map.org.ph

http://map.org.ph

Cops in shooting of Marawi trooper ordered to stay in camp

TWO COPS involved in the fatal shooting of a soldier heading home from fighting in Marawi City have been ordered to stay in camp. Chief Superintendent Billy Beltran, director of Police Regional Office 9 (PRO), said PO2 Ronald Zeros and PO1 Michael Bullanda have been told to stay inside the provincial police headquarters in Pagadian City after the death of Cpl. Rodilo Bartolome in Aurora town, Zamboanga del Sur last Wednesday. Mr. Zeros and Mr. Bullanda were responding to the reported presence of an armed man in the area when they mistook Mr. Bartolome for the subject of the complaint. They shot him 11 times. Mr. Bartolome, assigned to Bravo Company of the 53rd Infantry Battalion that has been operating against the Maute Group in Marawi, was on leave from the front lines. He died immediately. — philstar.com

See full story on https://goo.gl/E391Ht

Malampaya to fund grid interconnection projects

Malampaya offshore gas project — BW FILE PHOTO

NATIONAL Transmission Corp. (TransCo) plans to take over all of the country’s power grid interconnection projects and fund their construction by using P90-P110 billion of the government’s share in the revenue of the Malampaya offshore gas project, its president said.

“The direction of TransCo right now is to do all the interconnections,” Melvin A. Matibag, TransCo president and chief executive officer, told reporters in a recent gathering with Energy department officials.

He said the interconnection projects include the proposed P52-P53 billion submarine cable that will link the Visayas and Mindanao grids via Dipolog City and the southernmost tip of Cebu.

Also included is the interconnection of Antique province to Mindoro island, Bohol and Cebu islands and an additional facility linking Panay and Negros islands, Mr. Matibag said.

He said TransCo had used as a benchmark the cost cited by privately owned National Grid Corp. of the Philippines (NGCP), which he said previously presented plans to build the transmission facilities.

Asked about the funds from Malampaya, he placed the current available total at P193 billion. He said the total will still increase as the government has a share throughout the project’s duration. The gas reserves are expected to be depleted by 2022-2024.

Mr. Matibag also said he was considering the construction of a “redundancy” transmission facility that will connect the grids of the two island groups on the eastern side of the country — from Leyte to Mindanao. He said the transmission line would ride on the bridge proposed by the Department of Public Works and highways that will connect Visayas to Mindanao.

He said he was preparing a position paper on the interconnection projects, which he said had been approved in principle by the Department of Energy (DoE) and the Department of Finance.

In a Senate budget hearing on Tuesday, Energy Undersecretary Felix William B. Fuentebella told lawmakers that the DoE would seek clearance from the Office of the President to endorse the power transmission facilities as priority projects for the use of the Malampaya fund.

Asked about a possible conflict with NGCP, which has also proposed building the facilities, Mr. Matibag said: “My position is this, under the concession agreement, they are exclusively operation and maintenance.”

He said under the agreement, ownership of the existing facilities remain with TransCo.

“Since we are the owner, we can still do that (interconnection),” he said. “And I will invoke the benefits to the public.”

The benefits, he said, include that the cost of building the facilities will not be passed on to consumers, an arrangement that exists under current regulations issued by the Energy Regulatory Commission (ERC). He said NGCP would even benefit because as the grid operator, it can collect charges for maintaining the facilities.

Mr. Matibag said TransCo had to “benchmark” its pricing for the projects on the figures given by NGCP as his agency lacked the technical capability to do so.

“But I can always go lower than that…” he said, adding he was looking at a project cost that is lower by 20-30% than what NGCP quoted.

He also said that he expects to complete the project faster than the 2020 target previously given by NGCP for its proposal, saying that TransCo as a state agency can do away with the lengthy permitting process and the hearings at the ERC.

“So the chance of interconnection between Visayas and Mindanao is during the administration of the President (Rodrigo R. Duterte),” Mr. Matibag said. — Victor V. Saulon

Whereabouts of former Thai PM Yingluck unknown, minister says

BANGKOK — Thailand’s defense minister on Monday said he did not know the whereabouts of former prime minister Yingluck Shinawatra, days after she failed to show up for a verdict in her trial for negligence at which she faced up to 10 years in prison.

Yingluck, whose government was ousted in a 2014 coup, fled to Dubai via Singapore, sources in her Puea Thai Party said on the weekend. Her departure leaves the populist movement that has dominated Thai politics for more than a decade leaderless.

Her brother, former prime minister Thaksin Shinawatra, who was ousted by the military in 2006 and also fled Thailand to avoid a 2008 jail sentence for corruption, has a home in Dubai.

“We don’t know where Yingluck fled and whether she has asked for asylum anywhere,” Defense Minister Prawit Wongsuwan, who is also a deputy prime minister, told reporters.

“We haven’t asked for her extradition yet.”

Yingluck was often followed by plain-clothes police, her aides said. During a provincial tour last year men in military uniform would often follow her as she greeted supporters.

Critics are now asking how a person under close scrutiny by security forces could leave the country without being noticed.

“How should I know?” was Prawit’s response to reporters who asked him that on Monday.

Deputy national police chief General Srivara Ransibrahmanakul told reporters police intelligence showed Yingluck was still in her Bangkok home at least up until 2 p.m. on Wednesday. He did not elaborate.

An arrest warrant has been issued for Yingluck, 50, who had been due to appear at the Supreme Court on Friday to hear a verdict in a case against her, involving a rice buying scheme introduced by her government that lost an estimated $8 billion.

A former commerce minister in her government was jailed for 42 years on Friday for falsifying government-to-government rice deals in connection with the same subsidy scheme.

Reuters could not reach either Thaksin or Yingluck for comment on Monday. Yingluck, who is usually active on social media, has not posted on her Facebook page since Thursday, when she told supporters she would see them at the court.

Defense ministry spokesman Kongcheep Tanatravanich told reporters he was confident Yingluck was no longer in Thailand.

“We have to see first which country she’s in. The security side is working on this,” Kongcheep said.

Srisuwan Janya, secretary-general of the Association to Protect the Thai Constitution political group, said he would file a complaint on Monday with the National Anti Corruption Commission over what he called government officials’ failure to prevent Yingluck from fleeing.

By mid-morning on Monday Janya had yet filed the complaint.

Sentencing in Yingluck’s case has been moved to Sept. 27 and is expected to be delivered in absentia. — Reuters

Kasparov in Saint Louis

2017 Saint Louis Combined Standings
Saint Louis, USA
Aug. 17-18, 2017

Final Standings
(Rapid counts double)

1. Levon Aronian ARM, 24.5/36

2-3. Sergey Karjakin RUS, Hikaru Nakamura USA, 21.5/36

4. Ian Nepomniachtchi RUS, 20.0/36

5-7. Leinier Dominguez Perez CUB, Fabiano Caruana USA, Le Quang Liem VIE, 16.5/36

8. Garry Kasparov RUS 16.0/36

9. Viswanathan Anand IND 14.0/36

10. David Navara CZE 13.0/36

Levon Aronian scored a dominant victory in the Saint Louis Rapid and Blitz event, but the big story in Saint Louis is that former world chess champion Garry Kasparov, who many consider the strongest chess player in history, came back and played again after 12 years of retirement.

How did he do? Garry drew all his three games in the first day of the Rapid and had 5.5/9 in the last day of the blitz, not bad for someone who has not played in a long time, but for the rounds in between his rust showed.

Taking it all as a whole, in the Rapid Tournament Kasparov won once (Le Quang Liem), had five draws and three losses (Caruana, Nepom, Navara)

In the Blitz portion he had four wins (Nakamura, Dominguez twice, Caruana), 10 draws and four losses (Karjakin, Aronian, Le Quang Liem, Caruana)

Kasparov usually started well but lack of sharpness and the consequent missed opportunities were in evidence all throughout. For someone who used to lord it over the field this can be very painful — for example, he mentioned his “Navara moment,” that point in his game against the Czech no. 1 where he botched a winning position and then threw away the draw, and how it will haunt him for the rest of his life.

But c’mon guys it wasn’t that bad – even the online commentators Grandmasters Seirawan and Ashley did not see Navara’s saving resource until it was executed on the board.

* * *
Kasparov, Garry (2812) — Navara, David (2737) [B12]
Saint Louis Rapid 2017 Saint Louis (7), 16.08.2017

1.e4 c6 2.d4 d5 3.e5 Bf5 4.Nc3

Kasparov plays one of the most aggressive lines, 4.Nc3 followed by g2–g4 then maybe Nge2, Be3 and then either Nf4 or h2–h4 or f2–f4. This is known as the Shirov Attack.

4…e6 5.g4 Bg6 6.Nge2 c5 7.Be3 Ne7 8.f4 h5 9.f5!?

The idea is to lock in the black bishop on g6 while making f4 available for his knight. Nobody seems to have ever played this before but it is a good plan.

9…exf5 10.g5 Nbc6 11.Nf4 a6 12.Bg2 cxd4 13.Bxd4 Nxd4 14.Qxd4 Nc6 15.Qf2 Bb4

Suicidal is 15…Nxe5? 16.0–0–0.

16.0–0–0 Bxc3 17.bxc3 Qa5 18.Rxd5 Qxc3 19.Qc5 Qxc5 20.Rxc5 0–0 21.Bxc6 bxc6 22.Rd1!

This should be winning for Kasparov. He continues with perfect play.]

22…Rab8 23.c4 Rfd8 24.Rd6! Kf8 25.Rcxc6 Rdc8 26.Kc2 h4 27.Rxc8+ Rxc8 28.Kc3 a5 29.Ra6 Rb8 30.Rxa5 Rb1 31.c5 Re1 32.Ra8+ Ke7 33.Ra7+ Ke8 34.Nd3?

Now Kasparov starts to unravel, voluntarily removing his knight from its great position. He could have crowned his great play with 34.e6! Re5 35.c6 Rc5+ 36.Kd4 Rxc6 37.e7 Black can resign as he will be mated.

34…Re3 35.Kd2 Rh3 36.c6 Rxh2+ 37.Ke3?

Another mistake — White should have played 37.Kc3. Why allow the black rook to get to c2?

37…Rc2 38.e6 h3

The win is no longer there and unbelievably Black’s h-pawn is two squares away from queening.

39.Nb4 f4+ 40.Kd4! h2 41.Ra8+ Ke7 42.Rh8 Rd2+

According to Navara he had already seen the possibility of his final winning maneuver hereabouts.

43.Kc5 Be4 44.c7! Bb7 45.Kb6 Bc8 46.Rxc8 h1Q! 47.Re8+ Kxe8 48.c8Q+ <D>

POSITION AFTER 48.C8Q+

Kasparov thought he was winning here. It turns out he had made a serious miscalculation.

48…Ke7! 49.Nc6+?

[49.Qc7+ will draw by perpetual, but a draw was farthest from Garry’s mind]

49…Qxc6+! 50.Qxc6

[50.Kxc6 Rc2+]

50…Rd6 0–1

Black’s f-pawn will queen.

To be fair to Garry we should show you his best game, which was played in the last round. Leinier Dominguez of Cuba played a bit passively but Kasparov receives full credit for the following positional masterpiece, motivated by (according to Garry) the thought that this might be his last Najdorf!

* * *
Dominguez Perez, Leinier (2739) — Kasparov, Garry (2812) [B81]
Saint Louis Blitz 2017 Saint Louis USA (17), 18.08.2017

1.e4 c5 2.Nf3 d6 3.d4 cxd4 4.Nxd4 Nf6 5.Nc3 a6 6.h3 e6 7.g4 h6 8.Bg2 g5

This has to do with fighting for control of the e5 square. More people would play this line if most of Black’s pieces were not in their home squares. So, to summarize, White has to attack hard or otherwise Black will take over in the latter stages of the game.

9.Be3 Nbd7 10.Qe2 Ne5 11.0–0–0 Nfd7 12.h4?!

Dominguez’ play is uninspired. He has to start pushing hard already with 12.f4 gxf4 13.Bxf4 b5 14.Rhf1 with chances for both sides.

12…Rg8 13.hxg5 hxg5 14.Kb1

[14.Rh5 b5 15.Rdh1 Qf6 16.Nf3 Nxf3 17.Qxf3 Qxf3 18.Bxf3 Ne5 White is not making any headway. ½–½ (18) Mihok,O (2443)-Flumbort,A (2503) Budapest 2012]

14…b5 15.a3

Neither does 15.f4 gxf4 16.Bxf4 Bb7 17.g5 Qa5 18.Rh7 0–0–0 19.a3 Kb8 20.Qf2 Rc8 21.Na2 Ka8 achieve anything. ½–½ (21) Kasimdzhanov,R (2681)-Sasikiran,K (2679) Evry 2008.

15…Bb7 16.Bc1 Rc8

With the idea of 17…Rxc3 18.bxc3 Nc5 19.Rh3 Na4 20.Rdh1 Qc7 21.Qe1 Be7 followed by …Ng6, …Bf6 and …Rgc8.

17.Rh3 Ng6 18.Bh1 Nde5 19.Rg3 Be7 20.Na2 Rh8 21.Rc3 Rxc3 22.Nxc3 Qc7 23.Bg2 Qc4 24.Qxc4 bxc4 25.f3 Rh2 26.Bf1 Nf4

Kasparov has taken over the board, but it is not yet clear where the breakthrough is going to come from.

27.Be3 Bd8!

This is it! He will switch the diagonal of the bishop. Please remember that this is a blitz game — most GMs would have been happy to see this move in standard time controls.

28.Rd2 Rxd2 29.Bxd2 Bb6 30.Bxf4

The point is that 30.Be3 Bxd4 31.Bxd4 Nxf3 32.Be3 (the bishop is en prise so White does not have time for Bxc4) 32…d5 33.exd5 Bxd5 next to fall will be the g4–pawn. Black is completely winning.

30…gxf4 31.Nce2 d5 32.exd5 Bxd5 33.Bg2 Nxg4! 34.Nxf4 Ne3

Of course not 34…Bxd4? 35.Nxd5 exd5 36.fxg4 the tables have turned.

35.Nde2 Nxg2 36.Nxg2 Bxf3 37.Nef4 Ke7 38.Kc1 e5 39.Nh4 Be3+ 40.Kb1 Bxf4 41.Nxf3 Ke6 42.b3 e4 43.Nd4+ Kd5 44.c3 Be5 45.bxc4+ Kxc4 46.Nf5 Kxc3 47.Kc1 Kd3 48.Kd1 e3 0–1

A textbook crush.

The games show us that Kasparov is still up-to-date in his theory — once bitten by the chess bug you are infected for life. Now we know what Garry does at night during his constant travel around the world.

Garry explained that the reason for his participation in this tournament was to show his appreciation for the sponsor of the Saint Louis Chess Club, Mr. Rex Sinquefield who has been his supporter for the past so many years. Mr. Sinquefield is a fund manager who manages more than $300 billion in assets. In 2007, he and his wife opened the Chess Club and Scholastic Center of Saint Louis to promote awareness of the educational value of chess. He also provided seed funding to relocate the World Chess Hall of Fame to Saint Louis.

Since then Saint Louis has become the de facto chess center of the United States and starting 2009 all of the USA Chess Championships have been played there.

At the closing ceremony, Garry Kasparov did not rule out coming back to chess in the future but he qualified that if and when he does it will be at the Saint Louis Chess Club.

Bobby Ang is a founding member of the National Chess Federation of the Philippines (NCFP) and its first Executive Director. A Certified Public Accountant (CPA), he taught accounting in the University of Santo Tomas (UST) for 25 years and is currently Chief Audit Executive of the Equicom Group of Companies.

bobby@cpamd.net

Foreign banks eye PHL presence

By Melissa Luz T. Lopez,
Senior Reporter

AT LEAST two global banks are looking to establish their presence in the Philippines, the central bank chief said, amid growing interest as more foreign players look to cash in on the country’s growth story.

Bangko Sentral ng Pilipinas (BSP) Governor Nestor A. Espenilla, Jr. said two foreign banks are in talks to set up representative offices here, on top of eight other lenders who want to put up branches in Manila.

Representative offices allow foreign banks to set up liaison desks for Philippine-based clients to their branches in their home country, enabling them to promote their financial products and services as they lure potential clients to transact with their branches located abroad.

These bank offices cannot take deposits, hand out loans, or offer foreign exchange.

Mr. Espenilla said the two banks considering to put up such offices come from outside Asia, showing broad interest among foreign firms towards the Philippines. He added that such applications also pose as a litmus test as the global lenders assess opportunities here.

“Representative offices are mainly focused on marketing. That’s important because representative offices are also useful in drawing in investments into the country,” the BSP chief told reporters in an ambush interview Friday. “If they see a really good market demand, it may progress into a branch application.”

There are 10 global banks with representative offices in the Philippines, according to central bank data.

The BSP evaluates applications to open representative offices by looking at the foreign bank’s liquidity and solvency positions; net worth and resources base; financial and credit standing in the global banking community; and its exposure in the Philippines, including the outstanding commercial and financial ties between Manila and the applicant bank’s home country.

Mr. Espenilla also said that there are live inquiries from eight Asian banks considering to set up branches in the Philippines. If these push through, the lenders would add to the 10 foreign players which have entered the country since the passage of Republic Act (RA) 10641 in 2014.

RA 10641 opened the Philippines to more foreign banks as it lifted the previous limit which allowed only 10 offshore lenders to do business in the country at a time, which meant that a new player could only set up shop here when one of the 10 accredited players pulled out.

Five of the new foreign bank branches that have set up shop here are from Taiwan: Cathay United Bank, Yuanta Commercial Bank Co. Ltd., First Commercial Bank, Hua Nan Commercial Bank Ltd., and the Chang Hwa Commercial Bank, Ltd.

Other banks that have launched operations here are the Japan-based Sumitomo Mitsui Banking Corp.; South Korea’s Industrial Bank of Korea, Shinhan Bank, and Woori Bank; and the Singapore-based United Overseas Bank Ltd.

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