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Peso sinks to over four-month low on tariff worries

BW FILE PHOTO

THE PESO sank to an over four-month low against the dollar on Tuesday on fears that US President-elect Donald J. Trump’s plan to hike tariffs could stoke inflation in the world’s largest economy.

The local unit closed at P58.831 per dollar on Tuesday, weakening by 23.6 centavos from its P58.595 finish on Monday, Bankers Association of the Philippines data showed.

This was the peso’s weakest finish since it ended at P58.86 a dollar on June 26.

The peso opened Tuesday’s session sharply weaker at P58.73 against the dollar, which was already its intraday best. Its worst showing was at P58.845 versus the greenback.

Dollars exchanged went down to $1.12 billion on Tuesday from $1.31 billion on Monday.

“The peso tracked the dollar’s rise overnight as the market continued to digest Trump’s victory, with worries about tariffs boosting the dollar,” a trader said by phone.

Cautious trading was also seen as the market awaited the release of US consumer and producer inflation data this week, the trader added.

Mr. Trump’s expected policies could also affect the pace of future rate cuts by the US Federal Reserve, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

For Wednesday, the trader sees the peso moving between P58.50 and P59 per dollar, while Mr. Ricafort sees it ranging from P58.70 to P58.90. — Aaron Michael C. Sy

PSEi sinks to 6,800 level on Trump policy jitters

REUTERS

THE MAIN INDEX plunged to the 6,800 level on Tuesday amid continued worries over the reelection of Donald J. Trump as US president.

The Philippine Stock Exchange index (PSEi) declined by 1.87% or 129.90 points to close at 6,810.11 on Tuesday, while the broader all shares index fell by 1.2% or 46.68 points to 3,820.34.

Tuesday’s close was a near three-month low for the PSEi as this was its worst finish since it ended at 6,692.91 close on Aug. 15.

“The local market extended its decline to a fifth straight day this Tuesday. Lingering headwinds including the weak peso and the impact of US President-elect Donald Trump’s planned protectionist policies on the global economy continued to weigh on sentiment,” Philstocks Financial, Inc. Senior Research Analyst Japhet Louis O. Tantiangco said in a Viber message.

“Adding to this was Fitch Solutions’ BMI’s downgrade of its Philippine 2024 economic growth forecast from 6% to 5.8%,” he added.

Asian stocks tumbled on Tuesday dragged by Chinese markets and chip shares as investors worried about Mr. Trump’s policies, Reuters reported.

MSCI’s broadest index of Asia-Pacific shares outside Japan was down 1.7% to its lowest since Sept. 25, with Taiwan shares sliding over 2% and South Korean stocks 1% lower.

Meanwhile, the peso dropped to an over four-month low of P58.831 per dollar on Tuesday, down by 23.60 centavos from its P58.595 close on Monday, according to Bankers Association of the Philippines data.

“Philippine shares sank as investors weighed a drop in foreign direct investments. Many are already making assumptions heading into 2025 with more companies reporting third quarter earnings,” Regina Capital Development Corp. Head of Sales Luis A. Limlingan added in a Viber message. “Meanwhile, in the US, stocks climbed Monday as post-election rally pressed forward.”

All sectoral indices closed lower on Tuesday. Property retreated by 2.32% or 61.56 points to 2,590.14; services dropped by 2.21% or 47.42 points to 2,089.32; industrials went down by 1.72% or 166.21 points to 9,465.27; financials sank by 1.64% or 37.34 points to 2,234.20; mining and oil decreased by 1.46% or 119.59 points to 8,029.55; and holding firms declined by 1.09% or 64.65 points to 5,837.24.

“There were only three index members that gained this Tuesday, led by DMCI Holdings, Inc., climbing 1.12% to P10.82. Universal Robina Corp. was at the bottom, plunging 5.42% to P90.75,” Mr. Tantiangco said.

Value turnover rose to P5.59 billion on Tuesday with 622.73 million shares traded from the P3.84 billion with 548.52 million issues that changed hands on Monday.

Decliners outnumbered advancers, 134 versus 61, while 63 names were unchanged.

Net foreign selling climbed to P1.11 billion on Tuesday from P740.09 million on Monday. — Revin Mikhael D. Ochave with Reuters

Port infra seen holding back PHL cruise industry ambitions

PHILSTAR FILE PHOTO

THE quality of port and terminal infrastructure is the main challenge to Philippine plans to become a major cruise destination, a tourism official said.

“Unfortunately, one of our biggest challenges is infrastructure. We don’t have world class and globally competitive cruise ports and cruise terminals,” Paulo Benito S. Tugbang, director for product and market development at the Department of Tourism (DoT), told BusinessWorld on the sidelines of the welcome reception for the Seatrade Cruise Asia convention.

Asked about Philippine companies in the cruise industry, he said there are none, though the government is “not closing its doors” should any domestic company plan to invest.

Seatrade Cruise Asia, which seeks to promote the potential of Asia as a destination and market for cruise tourism, brings together cruise industry delegates, itinerary planners, port agents, excursion handlers, and cruise associations.

In a statement, the DoT said the government will simplify the visa application process for visa-required nationals on board cruise ships.

Mr. Tugbang said one of the advantages of the Philippines is that it offers multiple destinations.

President Ferdinand R. Marcos, Jr. said the Philippines is seeking to “play a constructive role in this evolving industry.”

“We are focused on strengthening infrastructure, forging meaningful partnerships, and ensuring that both the cruise industry and local communities will flourish,” he said in a speech at the welcome reception.

On the sidelines of the conference, Tourism Secretary Ma. Esperanza Christina G. Frasco said described the Philippine cruise tourism portfolio as “very promising.”

“We received 125 port calls in 2023 and over 100 this year. And our destinations and islands are increasing from 30 plus to a little over 40 now,” Ms. Frasco told reporters.

In 2022, the DoT submitted a list to the Department of Transportation (DoTr) of the ports and airports that need to be improved to serve the cruise industry.

“We are pleased with the announcements made by the DoTr and the Philippine Ports Authority that new ports are being built in Siargao and Boracay, which will specifically be for cruising. Other ports are also being improved all over the country,” she said.

“As far as Metro Manila is concerned, we are working closely with the City of Manila, as well as those that administer the South Harbor, because what we want is a positive experience for our tourists,” she added.

“The challenge for us is that we do not govern these ports, but we are grateful that they have been very open to our suggestions,” she said.

She said that the DoT sees cruise tourism as a platform for raising the profile of Philippine food, cultural traditions, and artisans.

“That is the focus now of the DoT — to reintroduce the Philippines to the world on the strength of our culture, and we believe that cruise tourism will help us do just that,” she added.

As of Oct. 31, the Philippines welcomed 4.88 million foreign visitors, equivalent to 63.4% of the department’s target of 7.7 million. — Kyle Aristophere T. Atienza, Justine Irish D. Tabile

CREATE MORE makes PHL market more predictable for investors — DTI

NOEL B. PABALATE/PPA POOL

THE Department of Trade and Industry (DTI) said on Tuesday that the amendments to the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Law will make doing business in the Philippines more transparent and predictable.

In a statement, the DTI said that the CREATE to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act, signed into law by the President on Monday, will also make the business landscape more globally competitive.

“The CREATE MORE Law is game-changing legislation aimed at transforming the Philippine economy. It will boost investor confidence and drive long-term growth by making the business environment more transparent, efficient, and predictable,” the DTI said.

“The DTI is dedicated to working with all stakeholders to ensure the success of this law and establish the Philippines as an economic powerhouse in the region,” it added.

The law, which amends the National Internal Revenue Code, seeks to attract more foreign investment through incentives, reduced corporate income tax rates, and enhanced deductions that may increase profitability for investors.

The DTI also noted that the law is expected to reduce administrative burdens and provide value-added tax (VAT) zero-rating and duty exemptions for export-oriented businesses.

“Together, these incentives are designed to stimulate foreign direct investment, leading to job creation, infrastructure development, and technological advancement,” the DTI said. 

“The CREATE MORE law sends a clear signal to the international business community that the Philippines is open for business and committed to providing a supportive and rewarding environment for investors,” it added.

Separately, the Bases Conversion and Development Authority (BCDA) said that the law will help position Clark as an investment destination in the Asia-Pacific.

“CREATE MORE… sends a strong message … that the Philippines is among the best investment destinations in the region,” Joshua M. Bingcang, BCDA president and chief executive officer, said in a statement on Tuesday.

“We at BCDA promise to work closely with the public and private sectors in unlocking the full potential of the special economic zones we own and operate to continue boosting economic growth and progress,” he added.

The Management Association of the Philippines (MAP) welcomed the passage of the law, saying that it will improve competitiveness by addressing ease of doing business (EoDB) concerns.

“CREATE MORE will certainly help improve the global competitiveness of the Philippines by improving EoDB, sustaining an enabling business environment, and attracting greater and more diverse job-creating investment,” the MAP said on Tuesday.

“EoDB has always been a top concern of MAP and we are glad that CREATE MORE will be addressing EoDB issues pertaining to VAT refunds, local taxes, the investment approval process, and flexible work,” it added. — Justine Irish D. Tabile

Fraud rate in PHL online forums, dating sites estimated at 18%, exceeding global average

REUTERS

ONLINE COMMUNITIES in the Philippines had a fraud rate of 18% in the first half, significantly higher than the 11.5% global average, according to a study by TransUnion.

In its Omnichannel Fraud Report, TransUnion said that the fraud rate covers segments like online forums and dating sites.

The corresponding fraud rates for other industry segments were as follows: retail 12.7%, financial services 6.6%, logistics 5.7%, the public sector 4.6%, travel and leisure 0.9%, and telecommunications 0.8%.

In the first six months, the overall digital fraud rate in the Philippines across all industries was 13%, exceeding the global average of 5.2% and “much higher” than the 19 markets analyzed.

Globally, digital fraud remained “stubbornly high” in the first six months of 2024, TransUnion said.

“Of the 19 markets where we provided country and regional breakdowns, seven (Brazil, Canada, Chile, Colombia, India, Mexico, and the Philippines) saw an increased rate of suspected digital fraud year on year in H1,” according to the report.

Profile misrepresentation was the most frequent type of digital fraud in the communities segment, TransUnion said.

“Online community users rely on organizations to provide trust and safety while using their platforms,” it said. “However, communities customers of TransUnion reported profile misrepresentation as the most frequent type of digital fraud they witnessed in H1.”

Suspected digital fraud attempts were most prevalent during the account login stage, TransUnion said.

In the six months to June period, 15.4% of all attempted digital account logins were suspected to be fraudulent, accelerating from 11% rate a year earlier. The other vulnerable stages were account creation (3.7%) and the transaction proper (1.6%).

According to the report, phishing was the most reported fraud scheme in the Philippines, with 60% of consumers saying they were targeted but did not fall victim. It also noted that 30% were not targeted, and 10% were targeted and fell victim.

Phishing refers to the practice of sending e-mails or texts while pretending to represent a reputable organization. This is meant to entice a user to share personal information, like passwords and bank account numbers.

Yogesh Daware, chief commercial officer at TransUnion Philippines, said digital scams are constantly evolving.

“The growth of communities also creates more avenues for scammers to potentially defraud consumers,” Mr. Daware said in a statement.

“With rising community fraud rates in the Philippines aligning with global findings, there is a need to focus efforts on educating consumers about these types of attacks and disseminating preventive measures that consumers and businesses can take to protect themselves from falling victim.” — Beatriz Marie D. Cruz

Weather remains risk to gov’t corn self-sufficiency goals — feed millers

REUTERS

By Adrian H. Halili, Reporter

WEATHER disturbances remain a major hurdle to achieving the government’s plans for improving corn production, feed millers said, adding that the resulting impact on feed prices will have knock-on effects on food price stability.

The Department of Agriculture (DA) is targeting an 81% corn self-sufficiency rate, which feed millers said would reduce import dependency and result in tariff savings that it hopes will be reflected in lower feed and food prices.

The DA said that as of Nov. 5, damage to the corn crop due to recent weather disturbances was 377,378 metric tons, valued at P7.10 billion.

“If domestic corn production increases and meets a significant portion of demand, it could potentially lower the cost of animal feed,” Edwin C. Mapanao, president of the Philippine Association of Feed Millers, Inc., told BusinessWorld.

“Corn is a primary ingredient in feed, and reducing reliance on imports can decrease costs associated with transportation and tariffs,” he added.

According to the Philippine Statistics Authority, the volume of corn production rose 1.3% during the third quarter to 2.5 million metric tons.

In June, President Ferdinand R. Marcos, Jr. signed Executive Order No. 62, which extended the lowered tariffs on corn imports until 2028. Tariffs on corn were retained at 5% for shipments within the minimum access volume quota and 15% for those exceeding the quota.

Mr. Mapanao said that the actual impact on feed prices will also depend on other factors, such as demand for animal products and global grain prices.

The DA said it allocated P5.32 billion to the National Corn Program, which would fund better planting materials, fertilizer, training, postharvest machinery, and small-scale irrigation projects.

“Achieving this target would depend on several conditions, such as favorable weather patterns, effective pest and disease management, efficient use of farming technology, and government support in terms of subsidies and infrastructure,” Mr. Mapanao said.

Mr. Mapanao added that the frequent typhoons and climate change continue to pose a threat to production.

“These factors can severely disrupt agricultural activities, damage crops, and make it difficult to meet production forecasts,” he said.

Mr. Mapanao said that the Philippines should develop resilient farming practices, strengthen disaster preparedness, and invest in climate-smart agriculture.

The Philippines is set to face an increased likelihood of tropical cyclone activity in the coming month due to La Niña.

The government weather service, known as PAGASA (Philippine Atmospheric, Geophysical and Astronomical Services Administration), said there is a 71% likelihood of La Niña setting in during the November to January period.

BoI cites need to de-risk RE investment via financing

WORLDBANK.ORG

THE Board of Investments (BoI) said re newable energy (RE) investments need to be de-risked by providing financing options and supportive policy in order to navigate the rapidly evolving RE ecosystem.

Rose Marie Mendoza, chief investments specialist of the BoI’s Energy Division said RE companies survive through collaboration between the public and private sectors.

“With each new player comes more complexity — whether in technology, investment dynamics, or market strategies. As we solve today’s challenges, we inevitably encounter new issues, reflecting the natural cycle of climate innovation,” Ms. Mendoza said.

“That’s why a strong, focused approach to de-risking renewable energy investments is critical. Equitable financing options backed by supportive policies will enable both small and large players in the ecosystem to thrive and adapt to an ever-evolving landscape,” she added.

The government unlocked investment in RE projects after it allowed full foreign ownership in the industry, which was previously capped at 40%.

As of Sept. 15, the BoI approved P1.35 trillion in investment pledges, accounting for 84.4% of the investment promotion agency’s target of P1.6 trillion for 2024.

The approvals were mostly in the energy sector, particularly RE projects, which accounted for P1.29 trillion of the investment pledges.

The other top investment destinations were real estate, manufacturing, agriculture, forestry and fishing, and administrative and support services.

The BoI and the United Nations Development Programme (UNDP) launched the Philippine Investor Map to point out opportunities for sustainable investment in the Philippines.

UNDP Philippines Resident Representative Selva Ramachandran said that the private sector plays a huge role in boosting climate and SDG (sustainable development goal) investment in the Philippines.

“We understand the magnitude of the challenge in front of us, and we have a range of tools and solutions,” said Mr. Ramachandran.

“More urgently, we need to understand how we can move from solutions to action and how we can drive collective action and make progress towards common goals to address climate change and achieve more equitable and inclusive development outcomes for all,” he added. — Justine Irish D. Tabile

Gig worker concerns not addressed in current safety net system — PIDS

THE FREEMAN FILE PHOTO

THE Philippine Institute for Development Studies (PIDS) said gig workers are not well-served by the current safety nets available to conventional employees, and noted that the segment needs special protections due to income instability.

“We have laws that protect the interests of traditional employees, but not comprehensively address the unique needs and vulnerabilities of our gig workers,” Miraluna S. Tacadao, a division chief with Department of Labor and Employment’s Institute for Labor Studies, said in a statement on Tuesday.

A separate PIDS report noted that while freelance earnings in the Philippines surged 208% between 2019 and 2020, online workers face significant challenges related to employment security and social benefits.

Ms. Tacadao said that dispute resolution mechanisms are usually available only for those with employer-employee relationships, leaving gig workers without recourse.

This has caused gig workers to indecently cover their social security costs, adding another layer of insecurity.

She also raised calls for the collection of accurate data on the gig workforce to inform policy decisions in the absence of reliable government data, which “complicates efforts to understand and regulate this growing sector.”

Ms. Tacadao and her co-authors proposed a regulatory approach that balances innovation with the safeguarding of workers’ rights. 

“We know that the passing of new legislation would entail time, but there are low-hanging fruits which can offer positive opportunities for parties involved in the gig economy,” Ms. Tacadao said.

PIDS said those in authority should modernize labor rules and regulations, while safeguarding the needs and interests of the flexible, on-demand workforce. — Aubrey Rose A. Inosante

Provisional anti-dumping duty imposed on imports of gypsum board from Thailand

THE Department of Trade and Industry (DTI) will impose a provisional anti-dumping duty for four months on gypsum board imported from Thailand.

“The DTI hereby imposes a provisional anti-dumping duty in the form of a cash bond on imports of gypsum board from Thailand for a period of four months,” according to the preliminary investigation report.

The anti-dumping duty, which will range from 4.65% to 34.72% of the export price, will be imposed when the Bureau of Customs issues the corresponding Customs Memorandum Order.

The duties were based on the computed dumping margins, which ranged from $0.01 to $0.06 per kilogram.

Bureau of Import Services Director Maria Guiza B. Lim said: “The Tariff Commission will conduct the formal investigation to determine whether or not to impose a definitive anti-dumping duty.”

“The provisional duty, which is four months under the law, is imposed while the Tariff Commission is conducting its formal investigation,” she added via Viber.

In a department administrative order dated Nov. 5, the DTI said Knauf Gypsum Philippines, Inc. filed a petition for an anti-dumping duty on gypsum board from Thailand last year. 

“The petition alleged that imports of gypsum board originating from Thailand are being dumped and, by reason thereof, are causing material injury to the domestic gypsum board industry,” according to the order.

As a result of this, the DTI initiated a preliminary anti-dumping investigation covering periods of January 2022 to May 2023 for dumping and 2019 to September 2023 for injury.

According to the preliminary report, Knauf, the only manufacturer of gypsum board in the country, protested the sale of gypsum board under AHTN Codes 6809.11.00 and 6809.19.90 in the Philippine market, which are used for internal walls and ceilings.

During the period of investigation, the report said that the volume of dumped imports from Thailand against the total Philippine imports was 81% in 2021, 55% in 2022, and 68% in the first five months of 2023.

The report said that although the share of imports from Thailand dropped to 24% in 2022, its share increased to 30% in the first three quarters of 2023.

“The domestic industry suffered material injury in terms of declining market share, domestic sales, and capacity utilization rate in the three quarters of 2023 compared to the same period in 2022,” according to the report.

“The industry has lost a substantial share of its market, with 30% captured by dumped imports from Thailand in the first three quarters of 2023. The continued price undercutting of the domestic industry has made domestic prices uncompetitive, severely impacting its overall operations,” it added.

The report concluded that imported gypsum board with thickness of 9 and 12 millimeters from Thailand are being dumped, triggering the need for provisional measures to protect the domestic industry. — Justine Irish D. Tabile

UE Warriors shoot for UAAP final four against lowly ADMU

UNIVERSITY OF THE EAST RED WARRIORS — FACEBOOK.COM/WEARETHEUAAP

Games on Wednesday
(UST Quadricentennial Pavilion)
12 p.m. – DLSU vs NU (women)
2 p.m. –  DLSU vs NU (men)
6:30 p.m. – UE vs Ateneo (men)

A HISTORIC final four ticket is up for the taking.

And University of the East (UE) wants no less than its whole piece with no complications when it tries to snap a 14-year drought against also-ran Ateneo de Manila University (ADMU) in the tailend of the UAAP Season 87 men’s basketball tournament on Wednesday at the UST Quadricentennial Pavilion in Manila.

Despite a three-game losing skid, the Warriors are steady at No. 3 with a 6-6 slate and can seal their coveted spot with a win against the Blue Eagles (3-9) at 6:30 p.m. after the bid of reigning champion De La Salle University (12-1) for a near sweep against National University (NU) (4-9) at 2 p.m.

UE’s last Final Four appearance was in 2009 during the batch of now-PBA star Paul Lee. And the Warriors, who were the lone team to deal the Archers a loss, have shown massive potential to finally end that futility.

Once the league’s hottest team and in the heat of contention for a twice-to-beat bonus, UE however cooled down in the most unfortunate time to suddenly close the gap with fellow Final Four hopefuls.

“We just have to weather the storm,” declared coach Jack Santiago as University of Santo Tomas (6-7), Adamson University (5-7) and Far Eastern University (5-8) moved to within striking distance for a possible logjam at 6-8 with only two spots left in the Final Four.

But with Santo Tomas and Adamson still having a scheduled match on Saturday that would give either squad its eighth loss, UE controls its own fate by simply replicating a 69-62 win over Ateneo in the first round to reach the magic number of seven wins.

That is regardless of the absence of prized import Precious Momowei, who will serve a one-game suspension following his ejection in 76-67 loss to Santo Tomas last weekend due to two unsportsmanlike fouls.

“Before, we needed eight wins to make it to the Final Four, now its only seven. We have 6th win, now we have two games (to get it done),” added Mr. Santiago as UE also faces University of the Philippines (9-3) in a still-to-be-announced date following the game’s suspension last month due to Typhoon Kristine.

In the other game, sure No. 1 seed La Salle shoots for a second-round sweep in a non-bearing match with NU for a strong momentum approaching its title defense bid in the Final Four, where it will sport a win-once bonus along with rival UP.

“We always strive for greatness. We honor basketball and we honor the game, it’s been good to us and short-handling or short-handling these guys is unfair to them,” said La Salle mentor Topex Robinson, promising an all-out effort from his charges even with no prize at stake. — John Bryan Ulanday

Didal makes triumphant comeback at Red Bull Buenos Aires Conquest

MARGIELYN “MARGIE” DIDAL — REDBULL

FILIPINO skater and Red Bull athlete Margielyn “Margie” Didal has made a triumphant return to the international skateboarding scene, skating her way to first place for women’s division at the Red Bull Buenos Aires Conquest. Ms. Didal makes her return to the podium following her journey to recovery from an ankle injury.

Last Nov. 9, a crowd of 2,000 people gathered at the University of Buenos Aires Law School to witness the Red Bull Buenos Aires Conquest. The competition brought together 24 of the world’s best skaters, including skaters from South Africa, the Netherlands, France, Mexico, Colombia, Peru, Chile, Uruguay, Brazil, Argentina, and the Philippines.

Ms. Didal won first place in the women’s division of the competition, besting some of the top women skaters in the world including Argentina’s Aldana Bertran and Brazil’s Leticia Bufoni, in the qualifying round, and Argentinian Camila Cáceres in the semifinals. It was down to Ms. Didal and Dutch skateboarder Roos Zwetsloot for the finals, with the Filipino athlete ultimately taking home the trophy.

Brazilian skater Gabryel Aguilar reclaimed his spot as the men’s division champion after winning the title the previous year. He competed against Mexican athlete Brayan Coria in the final round, after Aguilar defeated Argentina’s Axel Mansilla and Uruguay’s Emilio Dufour in the qualifying round. Mr. Aguilar was up against Mr. Dufour again in the semifinals, which the Brazilian skater won.

The fourth edition of the global skating competition featured riskier tricks and showcased the culture and history of the host city, coursing through iconic local skateboarding obstacles.

During the competition, the skaters battled in a 1v1 elimination format and had three minutes to showcase their skills on the course. Winners were decided by a judging panel consisting of key figures in the skating scene including Argentina’s Diego Bucchieri and Enrique Rosso, USA’s Anthony Claravall, and Brazil’s Biano Bianchin and Larissa Carollo.

Buenos Aires was the final stop in the global competition, after stops in Paris, Lisbon, and Rio de Janeiro with iconic backdrops in each stop. The competition served as a celebration of skate culture, allowing skaters from across the world to demonstrate their skill and style on a global platform.

SMB and Meralco host separate foes at East Asia Super League

Games on Wednesday
(PhilSports Arena)
6:10 p.m. – San Miguel Beer vs Taoyuan Pauian Pilots
8:10 p.m. – Meralco vs Busan KCC Egis

PBA CHAMPS San Miguel Beer and Meralco aim to bounce back as they host separate rivals in the East Asia Super League’s “Clash of Champions Manila” double-header on Wednesday at the PhilSports Arena.

The Beermen (0-1), the reigning PBA Commissioner’s Cup titlist, seek this objective against P. League+’s Taoyuan Pauian Pilots (1-0) in their Group A duel at 6:10 p.m.

The PBA Philippine Cup kingpin Bolts (1-1), for their part, target the pull-around versus Korea’s Busan KCC Egis (0-1) at 8:10 p.m. over in Group B.

The Bolts have mixed results in their first two assignments in the continental league, beating expansion team Macau Black Bears in the Oct. 2 opener at home before yielding to the Ryukyu Golden Kings in Okinawa, 74-77, two weeks later.

With beloved import Allen Durham retiring after their last road assignment, the Bolts signed up 6-foot-9 Akil Mitchell.

Mr. Mitchell is expected to make his Meralco debut and join forces with fellow reinforcement DJ Kennedy, ace guard Chris Newsome, naturalized player Ange Kouame and Chris Banchero in the home gig.

Meanwhile, the Beermen return to EASL play after losing to Korea’s Suwon KT Sonicboom, 81-87, in Match Day 1.

June Mar Fajardo, riding high on his record-extending 11th Best Player of the Conference, and Marcio Lassiter, fresh from soaring to No. 1 in PBA’s all-time three-pointers made, and imports EJ Anosike and Quincy Miller are determined to bring SMB to victory this time around. — Olmin Leyba

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