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Aboitiz unit temporarily shutters biomass power plant in Batangas

ABOITIZ POWER Corp. (AboitizPower) said its unit Aseagas Corp.’s 8.8-megawatt (MW) biomass power plant in Lian, Batangas will remain shuttered, as the company assesses its options.

In a disclosure to the stock exchange, AboitizPower said the Aseagas plant had earlier halted operations on Nov. 24 due to the unavailability of organic effluent wastewater.

“After evaluating the circumstances and the ongoing technical problems relating to the plant’s fuel stock and digester components, Aseagas decided to maintain the shutdown and to determine the appropriate way forward,” it told the stock exchange on Monday.

The supply of organic effluent wastewater was supposed to come from Absolut Distillers, Inc. The plant converts the organic effluent of Absolut into clean and renewable energy. It is meant to power about 22,000 households while producing 33 tons per day of liquid carbon dioxide for the industrial and beverage industries.

“This continued shutdown will allow us to look at our options, taking into consideration the interests of all our stakeholders,” AboitizPower President and COO Antonio R. Moraza said in a separate statement.

At the same time, Aseagas said it has prepaid an outstanding P2.368-billion loan with the Development Bank of the Philippines (DBP).

Aside from the DBP loan, Aseagas also invested equity of around P950 million for the biomass plant and has around P460 million in outstanding liabilities.

AboitizPower acquired the biomass plant in July last year, adding to its portfolio of renewable energy projects. The deal was through Aboitiz Renewables, Inc., the listed company’s holding firm that houses its investments in renewable energy. AboitizPower acquired the Aseagas facility from parent firm Aboitiz Equity Ventures, Inc.

The biomass power plant was expected to start operating and delivering power to the Luzon grid before October 2016. It built up AboitizPower’s renewable energy footprint, which currently covers large hydro, run-of-river hydro, geothermal and solar.

“Despite these challenges, our other projects are progressing as planned. About 500 MW of attributable capacity, mainly from baseload and hydro power plants, will come online in 2018. We are on track to meeting our 4,000-MW net attributable capacity target by 2020,” Mr. Moraza said.

On Monday, shares in AboitizPower closed higher by 0.39% at P38.65 each. — Victor V. Saulon

Central banks need to ensure tightening cools market froth

LONDON — Major central banks must ensure their efforts to gradually lift interest rates prove effective enough to cool some already “frothy” financial markets, the Bank for International Settlements (BIS) said in its latest report.

The umbrella organization for the world’s central banks gave the warning as investors continue to bask in what it called the “light and warmth” of improving global growth, subdued inflation and soaring stock markets.

Record high debt levels, however, highlight vulnerabilities in the financial system and the scale of this year’s rally in asset prices seems to have increased caution at the Switzerland-based BIS.

“High debt levels, in both domestic and foreign currency, are still there. And so are frothy (asset price) valuations,” the head of BIS’s monetary and economic department, Claudio Borio, said.

“The longer the risk-taking continues, the higher the underlying balance sheet exposures may become. Short-run calm comes at the expense of possible long-run turbulence.”

There was some surprise too that benchmark bond yields — which drive global borrowing costs — have stayed down even with the Federal Reserve now shrinking its balance sheet and the European Central Bank (ECB) also about to heavily cut its stimulus.

The improving global growth outlook, Japan’s ongoing money printing and the message from both the Fed and ECB that they will tread carefully going forward was the likely explanation for still low yields, though they did raise a “deeper question.”

“Can a tightening be considered effective if financial conditions unambiguously ease? And, if the answer is no, what should central banks do?” Borio said.

The pace of tightening from the likes of the Fed is already expected to be the slowest on record.

One concern is that the continued low bond yields and low market volatility, particularly in the United States, are reminiscent of the bond market “conundrum” referred to by former Fed Chair Alan Greenspan in 2005 before the financial crisis.

Yields remained low then too despite a run of US rate hikes and only gained any traction later in the cycle.

“In an era in which gradualism and predictability are becoming the norm, these questions (about effective tightening) are likely to grow more pressing.”

It is especially the case with some stock market gauges now in “frothy” territory.

At recent levels in excess of 30, the US stock market’s cyclically adjusted price/earnings ratio, for example, has exceeded its post-1982 average by almost 25%.

The dividend payout ratio of US companies is also back at highs observed in the 1970s and so might not go much further. “High valuations: market complacency?” the BIS posed the question, though it said stocks did look much less frothy when measured against extremely low bonds yields. — Reuters

P3,500 for kasambahay in NCR in effect Dec. 16

MANILA — Starting Dec. 16, all domestic workers or kasambahay in Metro Manila must be paid a monthly minimum wage of P3,500 a month, up from the previous mandatory rate of P2,500, the Department of Labor and Employment (DoLE) said.

The DoLE made the announcement after the Wage Board for the National Capital Region (NCR) issued Wage Order No. NCR-DW-01, which provides for a new monthly minimum wage for domestic workers/kasambahay in the NCR. The order mandates an additional one thousand pesos (P1,000) from the current two thousand five hundred pesos (P2,500), for a total of three thousand five hundred pesos (P3,500) as the new monthly minimum wage for domestic workers in NCR.

DoLE said the issuance was based on the collegial decision of the Board after conducting a thorough wage review on the socioeconomic conditions of the region, needs of domestic workers and their families, prevailing wage rates, capacity of the employers to pay, including those relevant data affecting the interests of both employers and domestic workers. Public consultations and hearings were also conducted in NCR to ensure that all their concerns and insights are considered, DoLE said.

The review was mandated by RA 10361, otherwise known as the Batas Kasambahay, which mandates the regional tripartite wage and productivity boards to revisit annually the wage rates of domestic workers.

The new order shall apply to all domestic workers/kasambahay, whether on a live-in or live-out arrangement and such does not allow any exemption.

It covers: general househelp, yaya, cooks, gardeners, laundry person, or any other person regularly performing domestic work in one household on an occupational basis.

The order excludes: service providers, family drivers, children under foster family arrangement, and persons performing work occasionally or sporadically.

The order was published on Dec. 1 in the Philippine Star and will be effective on Dec. 16. — news5/interaksyon.com

Impeachment hearing awaits two SC justices

TWO OTHER associate justices of the Supreme Court (SC) are set to attend the House inquiry on the impeachment complaint against Chief Justice Maria Lourdes P.A. Sereno, according to Oriental Mindoro Representative Reynaldo V. Umali.

Mr. Umali, chairperson of the House committee on justice which is conducting the inquiry, said Associate Justices Francis H. Jardeleza and Noel G. Tijam would be available to attend the committee hearing scheduled Dec. 11, two days before a scheduled vote to determine judicial determination of probable cause.

Associate Justice Teresita J. Leonardo-De Castro, who had already testified last week, is also willing to return to shed light on the inquiry, Mr. Umali said, adding that retired associate justice Arturo D. Brion will also attend the Dec. 11 hearing.

Mr. Brion and the incumbent justices are set to testify on Ms. Sereno’s alleged betrayal of public trust, such as her alleged usurpation of the mandate of the full court, and culpable violation of the Constitution by her alleged falsification of temporary restraining orders and delay of the resolution on Administrative Matter (AM) No. 17-06-02-SC on the transfer of the Maute cases to outside of Mindanao.

Ms. Sereno is also accused of corruption and other high crimes.

On the other hand, today’s hearing by the committee will focus, among other things, on the alleged delay in retirement benefits for judges and justices. Expected to attend are Court Administrator Jose Midas P. Marquez; Deputy Clerk of Court Anna-Li R. Papa-Gombio; lawyer Jocelyn T. Fabian, chairperson of the Technical Working Group on the Special Committee on Retirement and Civil Service Benefits; and Chief Judicial Staff Officer Charlotte C. Labayani of the Employees’ Welfare and Benefits Division.

Meanwhile, some senators have cried foul against the claim of lawyer Lorenzo G. Gadon that a business tycoon is ready to shell out P200 million to each senator in order to win an acquittal for Ms. Sereno should her case reach trial in the Senate.

Senator Panfilo M. Lacson noted that Mr. Gadon had been found to be spewing a lot of hearsay and even triple hearsay when he was grilled at the impeachment hearings.

For her part, Senator Grace Poe said the people are closely watching the case, so senators must ensure the case is decided on the merits. — M.N. dela Cruz with interaksyon.com

Airport congestion still expected during Christmas travel season

PASSENGERS will still experience air traffic and congestion at the terminals of the country’s main gateway, the Ninoy Aquino International Airport, despite a few improvements lined up, Senator Grace Poe said on Monday, Dec. 4, after a hearing on the Civil Aviation authority of the Philippines’ (CAAP) preparations for the Christmas rush.

“Mayroon pa rin (There will still be traffic), although may improvement na,” Ms. Poe said in an interview, referring to the plan to deploy an additional 500 immigration officers for faster processing.

Other planned improvements, however, will not be implemented until next year.

Ms. Poe cited the construction of an exit taxiway, which is scheduled to start February.

“(By) next year, mas mabilis ang takeoff and landing (would be faster),” Ms. Poe said.

An imrpoved Communications Navigation Surveillance/Air Traffic Management System (CNS/ATM) is also expected to be operational by August 2018, she added.

“Malaking sakripisyo pa rin para sa ating mga kababayan talaga itong darating na Disyembre (Filipinos will still have to make big sacrifices this December), she said. — Arjay L. Balinbin

Iflix launches NSFW Pinoy comedy show

THIS YEAR might be ending in a few weeks but it seems that its end harkens the dawn of the age of stand-up comedy as the latter half of the year saw a number of comic shows produced in the country, from small productions like Laugh It Off at Solaire’s Eclipse lounge, to larger ones like Jo Koy in Manila in Solaire’s The Theater and Waterfront Cebu. Now iflix, the Kuala Lumpur-based video-on-demand service, is taking a stab at this genre with Hoy! Bibig Mo, the company’s first original Philippine production featuring some of the top comics in the country.

The eight-episode series, which premiered on Dec. 1 and is hosted by Ramon Bautista, saw stand-up comics like Alex Calleja, GB Labrador, Tim Tayag, and Mike Unson “tackling taboo subjects you’ve never seen them joke about before,” said a company press release, leading credence to the title, Hoy! Bibig Mo which roughly translates to “Hey, watch your mouth!”

“These are not specials per se, but are designed with the intention of being a returnable series. Moreover, the idea is to build traction for ‘watch your mouth’ and establish it as a franchise so we have the option of spin-offs (such as solo act specials) where opportunities arise, all under the same comedy brand or umbrella,” Mark Francis, iflix global director of original programming, told BusinessWorld in an e-mail interview.

The show is the Filipino version of the Malaysian iflix original called Oi! Jaga Mulut — the company decided to create a Filipino version after “the success of [the show] in Malaysia.”

The Malaysian version was shot in May while the Philippine version was shot in July.

“We’re excited to bring the same boundary-pushing, hilarious stand-up comedy concept to the Philippines and to establish iflix as the destination for the region’s most talented funnymen and women,” Mr. Francis said in a press release, adding “delivering hyperlocal, high-impact content is at the crux of our original programming strategy.”

Iflix also produced an Indonesian version called Oi! Jaga Lambe which was shot in September.

“Stand-up comedy is still nascent in these parts, meaning the community is small. We selected a mix of established, high profile names, but also took pains to introduce raw, less heard of talent. The longevity of this content depends on keeping the talent pipeline fresh,” Mr. Francis said in the e-mail interview.

And if it becomes a hit, Mr. Francis said they are looking at making it a multi-season series.

But iflix is not the only service leveraging on the power of comedy as Netflix, the California-based streaming video service, has already produced comedy specials featuring comics like Amy Schumer and Jo Koy alongside a series called The Standups — six half-hour specials starring Nate Bargatze, Fortune Feimster, and Deon Cole — all the while premiering stand-up specials from Comedy Central, HBO, and Showtime.

“Netflix has a lot of great stand-up but the reality in our region is entirely different, especially since we are targeting local comics and local language over English. For instance, not many comics in our region have an hour of fresh material in their back pockets, and most have a day job to put food on the table,” said Mr. Francis in the interview, noting they started the push towards stand-up comedy in December 2016.

“The industry in Asia is not as mature, but the headroom is very much there for us to grow the scene together. There simply are not enough platforms besides the occasional stand-up club night for these comics to shine and improve their craft, while free to air is heavily censored and regional pay TV focuses on established, English-speaking comics. We believe this is a gap we can serve, but we have to take a longer view and grow it together with the talent, from the ground up,” he added.

Aside from its comedy series, iflix, announced several more original series which are in the pipeline including “a very big, very sexy feature-length film” starring Kris Aquino for the Philippines, and a spin-off of a hit movie drama, Magic Hour, for Indonesia, while Malaysia will soon announce its “first original drama series in collaboration with the country’s leading independent studio, Skop Productions Group,” said Mr. Francis. — Zsarlene B. Chua

‘Rampant’ Singapore piracy prompts Hollywood lobby for crackdown

SINGAPORE, which prides itself on being a haven for law and order, is being called a haven for pirating copyrighted programming by entertainment titans such as Walt Disney, HBO, the National Basketball Association, and the English Premier League.

Viewers in the city-state buy legitimate set-top boxes that also allow unauthorized streaming of thousands of movies, TV shows, and live sporting events, said the Coalition Against Piracy. Its 21 members, including divisions of Sony Corp. and 21st Century Fox, Inc., want the government to block the pirating software inside the devices, which are found at local electronics stores and on e-commerce sites such as Alibaba Group Holding Ltd.’s Lazada.

“Within the Asia-Pacific region, Singapore is the worst in terms of availability of illicit streaming devices,” said Neil Gane, general manager of the Asia-focused coalition, referring to countries where the boxes are considered legal. “They have access to hundreds of illicit broadcasts of channels and video-on-demand content.”

Singapore, notorious for imposing the death penalty for some drug and firearm offenses, is a focal point in the entertainment industry’s campaign to curb piracy in the region. Online TV and movie piracy will cost the industry an estimated $31.8 billion in global revenue this year, reaching $51.6 billion by 2022, according to London-based Digital TV Research.

The Asia-Pacific region will become the largest for online piracy next year, overtaking North America, the researcher said.

UNCENSORED CONTENT
Singapore ranked ninth in the number of visits per Internet user to piracy Web sites, according to London-based Muso TNT, which tracks such visits. In a separate survey of 1,000 Singaporeans sponsored by industry association CASBAA, about 40% said they were active consumers of pirated content.

“The piracy here is rampant and shockingly so,” said Lise-Anne Stott, Singapore-based head of legal for A+E Networks Asia, a coalition member that offers History, Lifetime, and three other channels there.

The boxes allow Singaporeans to use apps that access programming not shown at home because it’s censored, lacks a licensing deal or requires a subscription fee users don’t want to pay. In some cases, users can stream uncensored versions — with nudity or violence — of locally available shows such as A+E’s Vikings.

“Copyright infringement is not so much about a device or technology as it is about whether that device or technology is used in a manner that is illegal,” the Intellectual Property Office of Singapore said in an e-mail. “Users of such devices should therefore ensure that they are accessing content from authorized content providers.”

ONLINE TUTORIALS
Some of the devices scraping the Internet for unauthorized content come from Chinese vendors such as Unblock and EVPad. The square gadgets can be bought either with the streaming apps already installed for plug-and-pirate use or with embedded links for downloading those apps.

Tutorials to set them up are found on YouTube and Baidu, Inc.’s online forum.

The Singapore government said it didn’t consider the devices themselves to be illegal. The boxes also can view legally available Web sites such as YouTube.

At Sim Lim Square, an electronics market a short drive from the president’s official residence, at least 15 retailers sell the set-top boxes for as little as S$100 ($74). Many storefronts advertise that these boxes can stream content otherwise unavailable in Singapore.

NOT DOWNLOADING
Ken Lee, a salesman, said his store sells 10 to 20 boxes on a typical weekend. During major electronics fairs, sales can reach 300 a day, he said.

Lee said he tells buyers there’s nothing unlawful about using the devices. Since the boxes aren’t downloading copies of programs, they aren’t violating copyright laws, he said.

Unblocktech didn’t respond to requests for comment. EVPad said in an e-mail that customers decide which apps to download, and it cannot be held responsible.

The industry’s efforts include lobbying the Singapore government to eliminate any confusion about legal uses of the devices and to make it easier to take legal action against companies offering pirated content, said John Medeiros, Hong Kong-based chief policy officer for CASBAA, the coalition’s parent organization.

“We continue to engage with the industry on their concerns in relation to the popularity of devices that connect televisions to access online content,” Singapore’s Intellectual Property Office said.

RANKED FOURTH
The coalition also wants Singapore to block streams of illegal content from entering the country. Last year, the country blocked one Web site for offering illegal downloads.

Minister for Home Affairs and Law K. Shanmugam said in August that Singapore has “a strong intellectual-property regime which protects innovations comprehensively and effectively.” The next month, the World Economic Forum ranked Singapore fourth out of 137 countries for protecting intellectual-property rights.

Coalition members Sony Pictures Television Networks Asia and Viacom International Media Networks declined to comment. Walt Disney Co. and HBO Asia didn’t respond to requests for comment.

“This new coalition adds to our efforts to protect the legitimate rights and interests of the NBA and our partners,” said Ayala Deutsch, executive vice-president and deputy general counsel for the league, which earns $2.6 billion annually in broadcast rights from US-based networks alone.

The English Premier League, which generates at least £1 billion ($1.3 billion) a year from international media rights, is “currently investigating” suppliers of pirated content in Asia after helping Thai authorities break up an illegal streaming operation there. Games are available in Singapore with a subscription.

“The Premier League is currently engaged in its most comprehensive global anti-piracy program,” it said. “This includes supporting our broadcast partners in Southeast Asia with their efforts to prevent the sale of illicit streaming devices.” — Bloomberg

Price rollback for diesel, kerosene; gasoline steady

FOR THE second straight week, oil companies are keeping gasoline prices unchanged after the reduction three weeks ago. Diesel and kerosene prices, meanwhile, will both be down by P0.30 per liter (/L). “This is to reflect movements in the international petroleum market,” said Seaoil Philippines, Inc., which will roll back prices at 12:01 a.m. on Tuesday, Dec. 5. Other companies will be implementing the price cut at 6:00 a.m today. Last week, the prices of diesel and kerosene rose by P0.35/L and P0.25/L, respectively. Gasoline prices were unchanged last week after a P0.50/L reduction on Nov. 21. — Victor V. Saulon

Netflix OKs Stranger Things 3rd season

NEW YORK — Stranger Things fans, rejoice: more adventures in the Upside Down are on the way.

Netflix said Friday it had renewed its hit 1980s-set nostalgic supernatural drama, which has won critical acclaim and instant fame for its cast of young stars.

“Should we make another season of Stranger Things?” the subscription-only streaming giant teased with an interactive poll on Twitter before adding: “season 3 is officially happening!!!”

No date was given for the season three premiere.

According to Nielsen, around 15.8 million viewers tuned in to watch the first episode of the show’s second season within the first three days of its Oct. 27 launch. Netflix does not release information about viewership.

But those numbers would make Stranger Things one of the most popular television shows in the United States, not far behind AMC’s hit show The Walking Dead.

Stranger Things tells the story of a group of young friends living in a small town in Indiana in the 1980s — and the odd happenings that threaten them all.

It premiered in July 2016 and won five primetime Emmy Awards in 2017. It had earned a whopping 18 nominations, including one for 13-year-old breakout star Millie Bobby Brown. — AFP

Cebu PDRRMO taps cacao planting in disaster risk reduction program

GROWING CACAO trees is now part of the disaster risk reduction efforts of the provincial government. Baltazar S. Tribunalo, Jr., head of the Provincial Disaster Risk Reduction and Management Office (PDRRMO), said cacao trees are “carbon sinkers”, which help reduce carbon dioxide presence in the air. Mr. Tribunalo added that cacao roots can grow up to three meters, making them good tools in flood and landslide prevention. “It helps lessen the impact of disaster,” he said. Thirty farmers from the Talisay Farmer Scientists’ Association (TAFSA) were recently trained on how to effectively grow cacao trees, which would also be a source of income for them. Mr. Tribunalo said the PDRRMO intends to train more farmers in other parts of Cebu, including Danao and Toledo cities, and the municipalities of Aloguinsan, Pinamungajan, Argao, and Balamban. The training includes the distribution of cacao seedlings purchased by the organization Salamat with the support of the Department of Agriculture, Provincial Agriculture Office, and Provincial Environment and Natural Resources Office. — The Freeman

Mission accomplished

By Michael Angelo S. Murillo
Senior Reporter

IT WAS “mission accomplished” for the Ateneo Blue Eagles as a year-long thrust to better themselves resulted in the team ascending to the top of the University Athletic Association of the Philippines (UAAP) men’s basketball for Season 80 when the smoke cleared.

A year since losing to erstwhile champions De La Salle Green Archers in the finals in Season 79, the Katipunan-based Eagles soared back as champions after they defeated their rivals in their best-of-three finals series, 2-1, on the strength of their 88-86 victory in the winner-take-all Game Three last Sunday.

The title was the ninth for Ateneo in the UAAP, good for joint fourth all time with its conquered foe, and first after five years.

While admitting to not having thought of winning it all this season after losing in the finals last year, Ateneo assistant coach Sandy Arespacochaga said they welcome the championship for it was the fruit of the tremendous effort that everybody in the team put in for improvement.

“We did not know if we will be coming back to this stage in Season 80. After last season where we lost in the finals to La Salle, our emphasis immediately was for us to improve both individually and as team,” Mr. Arespacochaga shared to a group of sportswriters after their title-clinching win.

“Our goal was not to enter the finals right away but if we did, it would be a result of us improving ourselves. And this season our players really showed that. It took a lot of effort from them to adjust to what we want to accomplish. We’re very happy of what they have become,” the Ateneo deputy coach added.

TEAM EFFORT
In winning the title in Season 80, Ateneo banked on a total team effort to seal the victory.

Thirdy Ravena led the Eagles with 17 points, eight rebounds and five assists in Game Three en route to winning the finals most valuable player award.

Guard Matt Nieto finished with 14 points while graduating big man Chibueze Ikeh had a double-double of 12 points and 13 boards and Anton Asistio 11 points.

Vince Tolentino had nine markers and Isaac Go, who drained a big three-pointer with 24 seconds to go, finished with seven points.

“That was a tough game. La Salle did not give up and credit to them. It is what it is. I can’t say enough. I’m happy for the team and the community,” said Ravena in the postgame interview.

As for winning finals MVP, Ravena gave credit, too, to the entire team.

“The team deserves the MVP award. I’m just doing my job as well as the other players. Everybody really put time and effort in this and congratulations to everybody,” he said.

The same “collective effort” also stood out for Go, who established himself as one of the clutch players in Season 80 of the UAAP with the way he responded to pressure situations with big plays.

“The team is clutch not only me. One shot does not make a win. It’s a combination of everything. It’s a total team effort,” Go said.

Now back on top, Nieto could not help but look back with amazement and pride at the journey they had to the title.

“It’s mission accomplished. God is good. We went through a lot to get to this point. This was our dream and we did it,” said Nieto with a smile on his face.

More than 11,000 people affected in Maguindanao clashes

HALF-MONTH WORTH of food and other supplies were distributed by the International Committee of the Red Cross (ICRC) on Nov. 30-Dec. 1 to around 11,600 people in the town of Shariff Saydona Mustapha, Maguindanao who have been affected by fighting between government troops and armed groups. “While the attention over the recent months has been mostly focused on the Marawi conflict, several communities in Maguindanao have also been seriously affected by armed clashes. We remain concerned about their plight as they have been displaced for more than three months,” Tomoko Matsuzawa, head of the ICRC’s office in Cotabato, said in a statement released yesterday. ICRC reported that since early August, the military and various armed groups have been engaged in armed fighting in the area known as the SPMS Box (Barangay Salbu, Datu Saudi Ampatuan — Barangay Pagatin, Datu Salibo — Mamasapano — Shariff Aguak). Nongovernment monitoring organization Conflict Alert, in its 2017 report released last week, said there has been a spread of violent extremism in the Autonomous Region in Muslim Mindanao, with Maguindanao accounting for the highest number of incidents involving the Bangsamoro Islamic Freedom Fighters (BIFF). The BIFF, which has pledged allegiance to the Islamic State, is a breakaway group from the Moro Islamic Liberation Front that has signed a peace agreement with the government. ICRC said “though majority of the displaced families have returned home to plant rice and other crops, they’re staying close to the main roads, ready to evacuate in case the fighting resumes. The remaining families, coming from areas more exposed to repeated armed encounters, have opted to stay in host communities.” — Mindanao Bureau

See related story “2 civilians killed, 7 others hurt in Army-BIFF clash in Maguindanao” on https://goo.gl/7Srhyy

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