Batang Gilas falls short in MCBL debut

October 31, 2017 | 12:04 am

MEMBERS of the Batang Gilas got a fitting workout in preparation for the FIBA Asia Under-16 Championship in its debut game in the Marikina City Basketball League (MCBL).

On Sunday, the national youth team took the floor and pushed R. Lapid’s/Tito Rex to the limit before bowing to their more experienced rivals, 83-77, in front of a huge crowd at the Marikina Sports Complex.

The young cagers got big games from mainstays RC Calimag and Renz Padrigao, but their more seasoned rivals composed of ex-D-League players and imports in the collegiate rank flexed their muscles when needed to hack out a win.

Calimag, son of former PBA player Recaredo Calimag, finished with 18 points while Padrigao, team captain of the national youth squad, contributed 16 for the reigning SEABA Under-16 champion Batang Gilas.

But Batang Gilas couldn’t stop Solmane Chabiyo, the prized recruit African import from Colegio de San Lorenzo, who had another double-double performance of 16 points and 10 rebounds to power R. Lapid’s/Tito Rex to its second win in this tournament.

In the other game, ex-pro James Martinez and the rest of L&J Spa cagers made sure they’ll get the job done in hacking out a 104-85 triumph over Madam Tess.

A former player of the Powerade Tigers in the PBA, the sweet-shooting Martinez also got ample support from former Purefoods player Jerwin Gaco, Dennis Villamor, Renz Palma, Mike Ayonayon and JR Taganas, all of them finishing in double figures for L&J.

Mr. Gaco, a fan favorite in the PBA, is making his presence felt in the MCBL. He contributed 15 points and pulled down 15 boards in a solid effort. Mr. Villamor chipped in 13 while Messrs. Palma and Ayonayon had 12 each.

Mr. Taganas, a long-time teammate of Martinez, also had a double-double performance of 10 points and 15 rebounds as L&J clobbered its rivals in the battle of the boards, 63-39.

Ex-pro Paul Sanga led the way for Madam Tess with 26 markers, but failed to get enough support from his teammates. — Rey Joble

Cebu Pacific junks plan to fly to Honolulu

October 31, 2017 | 12:04 am

CEBU PACIFIC is dropping plans to fly to Honolulu, Hawaii as it focuses on high-demand domestic and Asian destinations.

“Before there were plans… there’s no active plan. We’d rather focus our resources on existing demand for regional and domestic flights,” Cebu Pacific CEO Lance Y. Gokongwei told reporters on the sidelines of a Cebu Pacific launch event.

To cope with increasing demand, Mr. Gokongwei said they have increased frequencies for flights to Nagoya and Narita in Japan and Hanoi in Vietnam.

“I guess that’s a reflection now of the increasing number of tourists coming to these countries,” Mr. Gokongwei said.

Cebu Air, Inc. recently formally filed for additional entitlements to Hong Kong as well as Bali, Indonesia, due to “increasing demand,” said Mr. Gokongwei.

For long-haul flights, Mr. Gokongwei said flying to the mainland United States is a possibility, but there are no current plans for Cebu Pacific to fly to Europe, as flights to the US hold more promise. The carrier currently flies to the US territory of Guam.

Cebu Pacific previously said it will increase frequency for its direct flights to Sydney, Australia.

In July, the airline opened five new domestic routes, riding on demand from domestic leisure and business travelers: Zamboanga-Cagayan de Oro, Zamboanga-Cotabato, Cebu-Masbate, Davao-Dumaguete, and Davao Tacloban.

Earlier this year, Cebu Pacific has announced that it will stop its flights to Kuwait, Doha in Qatar, and Riyadh in Saudi Arabia because of increased competition in the routes. – Patrizia Paola C. Marcelo

Hundreds of thousands march for unified Spain, poll shows depths of division in Catalonia

October 31, 2017 | 12:04 am

BARCELONA — Hundreds of thousands of supporters of a unified Spain filled Barcelona’s streets on Sunday in one of the biggest shows of force yet by the so-called silent majority that has watched as regional political leaders push for Catalan independence.

Political parties opposing a split by Catalonia from Spain had a small lead in an opinion poll published on Sunday, the first since Madrid called a regional election to try to resolve the country’s worst political crisis in four decades.

Polls and recent elections have shown that about half the electorate in the wealthy northeastern region, which is already autonomous, oppose secession from Spain, but a vocal independence movement has brought the current crisis to a head.

Spain’s central government called an election for Dec. 21 on Friday after sacking Catalonia’s President Carles Puigdemont, dissolving its parliament and dismissing its government. That followed the assembly’s unilateral declaration of independence in a vote boycotted by three national parties.

The regional government claimed it had a mandate to push ahead with independence following an unofficial referendum on Oct. 1 which was ruled illegal under Spanish law and mostly boycotted by unionists.

Waving thousands of Spanish flags and singing “Viva España,” protesters on Sunday turned out in the largest display of support for a united Spain since the beginning of the crisis — underlining the depth of division in Catalonia itself.

“I’m here to defend Spanish unity and the law,” said Alfonso Machado, 55, a salesman standing with a little girl with Spanish flags in her hair.

“Knowing that in the end there won’t be independence, I feel sorry for all the people tricked into thinking there could be and the divisions they’ve driven through Catalan society.”

SLIGHT UNIONIST LEAD
The poll of 1,000 people by Sigma Dos for newspaper El Mundo showed unionist parties winning 43.4% support and pro-independence parties 42.5%.

The survey was taken from Monday to Thursday, just as the central government prepared to take control of Catalonia.

Madrid said on Saturday that secessionist politicians, including Puigdemont, were free to take part in the election. The hardline CUP has been unclear if it would.

The deposed Catalan government will soon have to make difficult decisions, Puigdemont’s former deputy Oriol Junqueras said on Sunday in an editorial in online newspaper El Punt Avui. He stopped short of saying his ERC party would take part in the election.

“We need a shared strategy… it’s important to weave solid alliances with those who are willing to build a state that serves its citizens,” he said, possibly alluding to a rumored alliance between the ERC and the Catalan arm of the anti-austerity Podemos party.

Such an alliance could put the independence movement in difficult position as it would mean a main secession supporter joining forces with parties that reject Madrid’s hard line but do not support separatism.

With weeks to go before the election, the poll showed the CUP, kingmaker for the pro-secessionists in the dismissed 135-seat parliament, would win seven seats, down from a current 10.

The pro-independence coalition Junts pel Si, which held 62 seats previously, was split into parties PDeCat and ERC for the poll as they are unlikely to run on a single platform. The two would win between 54 and 58 seats in total, the poll showed.

At Sunday’s rally, former European Parliament president Josep Borrell called for unionist voters to turn out in December to ensure independence supporters lose their stranglehold on the regional parliament. — Reuters

PCCI, gov’t to help expedite ecozone application process

October 31, 2017 | 12:04 am

THE Philippine Chamber of Commerce and Industry (PCCI), the Philippine Economic Zone Authority (PEZA), Department of Trade and Industry (DTI) and the Office of the Executive Secretary (OES) will be working together to fast-track the process of conferring special economic zone status.

In a statement released by the PCCI on Monday, the tie-up was initiated by participants at the 43^rd Philippine Business Conference (PBC) on Oct. 19 at the Manila Hotel, leading the DTI, PEZA, OES and PCCI to convene on Oct. 25.

It was also during the 43^rd PBC that PCCI released its 10-point resolutions which addresses their concern over eight sectors, including the petition for the president to speed up the proclamation of economic zones.

PCCI President George T. Barcelon told reporters in a chance interview at the conference that no investor or PCCI member has backed out of a project due to the delays in the proclamations, investors have responded by turning cautious.

According to the statement, Executive Secretary Salvador C. Medialdea said the review of 25 ecozone applications has been completed and these cases will move up for proclamation. Mr. Medialdea also said delays are due to some applicants not forwarding some of the required documents.

Earlier this month, Philippine Economic Zone Authority Director-General Charito B. Plaza said that out of 58 pending proclamations, the OES has only endorsed five information technology centers and ecozone in Negros.

Most of these applications have been pending one year.

Ms. Plaza added that the government loses P500 billion in initial investments due to the delays.

“If these investors will change their minds – some are already telling [me] that their principals are telling them to transfer to Vietnam, then we’ll be losing opportunities. Some of them already have invested in locators. When they apply, they report the official investments. For me, [the process] is still slow but let’s not [talk about it]. They already know that,” she said. – Anna Gabriela A. Mogato

P1M to be spent to deodorize Inayawan landfill

October 31, 2017 | 12:04 am

THE CEBU City Council has approved the allocation of P1 million, to be sourced from funds coming from the Philippine Amusement and Gaming Corp. (PAGCOR), for the procurement of deodorizer that will be used at the Inayawan sanitary landfill, which has been ordered closed by the Court of Appeals. There is a pending proposal to use the area as site for a Material Recovery Facility (MRF), which some councilors are questioning as another form of garbage dumping. The council members have agreed to submit a program of works and estimates for the MRF to the Environmental Management Bureau for assessment. The planned MRF is intended as a receiving site for different types of wastes, where these will be sorted and segregated. — The Freeman

Do you like my hair?

October 31, 2017 | 12:03 am

Even when it’s clear your opinion won’t change anybody’s mind, it is still sought as if it could. And does it really matter if you are not informed enough to offer an opinion in the first place? (Sorry, I don’t know what you’re talking about.)

It’s not just survey companies that track approval ratings for products, services, and politicians.

On a daily basis we are asked questions. These solicited opinions fill up conversations — do you like my hair? Or maybe, it is just a request for culinary preferences — do you like pepper with that? The waiter always has a big pepper grinder to twirl over anything you order.

Solicited comments are sometimes meant to fish for compliments — what do you think of my car? (Well, it’s a bad shade of mustard and what you got is the low end of this luxury brand.) Questions are social fluff, not a desire for feedback at all but just small talk lubricating the moving parts of social interaction.

The time gap between question and answer is measured as well as the effort put into a well considered reply. A monosyllabic “yes” or “no” is curt, maybe even hiding some contempt. The same goes for a nonverbal grunt or a “hmmm.”

Given an opening like — how was your day, a short reply will do: It was fine. To actually describe in detail the spate of meetings, the agenda, and how these impact on your career trajectory can derail the social exchange. (They liked the doughnuts I brought.) The questioner has neither the time nor appetite for too much information.

More formal queries that depend on a segmented sample of respondents to represent the whole country track preferences for certain institutions and those who head them. This quarterly exercise by at least two companies that seemed to have talked to different sets of people get a lot of media play. The ups and downs in approval ratings of newsmakers seem is a periodic check on the nation’s blood pressure.

There are also requests for feedback in a corporate setting. Where are these questions coming from? Why are they being asked at this particular time? Have your usual critics and rivals been having golf with the boss or watching basketball games with him, grinning and even waving as the TV cameras pan the VIP section?

In the corporate setting, CEOs seldom get rated by a third party research group doing approval ratings surveys. Still, there are surveys on the corporate climate — do you see a future in this company? The annual performance rating too has introduced the 360-degree evaluation that allows subordinates to rate their bosses — I hardly see him.

Internal surveys in companies deal with business processes.

Take a simple question like “What’s our present procedure in handling customer complaints?” Before walking through this potential minefield, it is important to elicit the context of the question and get more clues on where this is going. What customer has been pissed off?

Answering questions is part of life. From school days when we dreaded quizzes and exams to old age, we are asked questions — have you taken your medicine? And the first thing to understand is when honest, even brutal, feedback is valuable, say from your doctor doing a diagnosis — oh that may just be a silly headache. Get some sleep. We have to do more tests.

Questions should be categorized according to the responses expected and the context of the interrogation. Most times, a truthful reply is still the best option. And there are ways of being ambiguous even with facts and what to withhold.

Still, even the most impartial surveys only reflect the answers of respondents to the questions being asked. What happens to the non-respondents in the sample who feel that answering questions in surveys are a waste of time — hey, I need to grab a doughnut? Their views are not reflected in the results, not even as a footnote — one respondent refused to answer even after his doughnut break.

Questions are not always answered, even when the interviewer is persistent. Anyway, those pestered for a reply don’t always give straight responses. Sometimes, the curt answer is just intended to get the survey over with… as well as get rid of the pest conducting it.

A. R. Samson is chair and CEO of Touch DDB.

ar.samson@yahoo.com

CW Home Depot sweeps LGR Hoops eliminations

October 31, 2017 | 12:03 am

CW Home Depot continued to assert its dominance in the LGR Hoops Season 4 as it dumped Team RL, 98-66, and kept its perfect record in the Corporate Division recently at the North Greenhills Gym.

Harold Lontong finished with 21 points followed by Joel Laurente who contributed 13. Ferdinand Arce chipped in 10 for CW Home Depot, which completed a seven-game sweep in the elimination round of this tournament sponsored by Bugsy’s, Rain or Shine, Petron, Titan, NBA Store, Gatorade, BTV, Golds Gym, Zark’s Burger, Kartilya, SYF and Ybalai.

Wednesday Group and RJ Construction pulled off contrasting wins to bolster their playoff chances in the tournament.

Behind the hot-shooting PJ Calonzo, Wednesday Group blasted IFBL, 85-66, in the Novice Division of this event

Mr. Calonzo hit four-of-six triples on his way to finishing with 24 points to carry Wednesday Group to its sixth win in seven games and into solo lead in the Group B Division. He and Jorlan Barrios, who also nailed four treys, typified their squads dominance over IFBL, which drew 16 markers from Robert Palomar.

RJ Construction nipped Mr. Ybalai, 81-80, in the 38-and-Above category.

Manny Mendoza led the way for RJ Construction with 23 points followed by Ellard Cortez with 19. Two other players also finished in double figures for the squad — Michael Avancena and Melvin Caruz, who ended up with 14 and 11, respectively.

The playoffs of the LGR Hoops Season 4 begins next week.

A total of four teams each bracket will advance to the playoffs, all of them going through the knockout phase. — Rey Joble

Reality show helps millionaires find love

October 31, 2017 | 12:03 am

MATCHMAKER Patti Stanger begins anew with a group of millionaires looking for a final chance at finding love in the reality show Million Dollar Matchmaker, premiering on Sony Channel on Nov. 1, 7:55 p.m., and airing week nights thereafter. Every week, two new millionaires check into an exclusive high-end resort where Stanger has taken over the 21^st floor so she can focus her eyes and ears on her clients who are hoping to leave with the love of their life. During their stay, they learn a few “love lessons” designed to point them in the right direction to true love. Each millionaire then will go on the same date twice with two potential matches to see if there is chemistry. But their date must choose the millionaire too or they will be forced to check out alone.

China property keeps churning out billionaires

October 31, 2017 | 12:03 am

NOWHERE on Earth is wealth being created faster than in China’s mainland property market.

The collective net worth of the country’s richest developers has rocketed since the start of the year, adding $44.3 billion to the fortunes of seven real estate tycoons.

As China’s regulators move to tame a frenzied property market, investors are betting that the largest companies will squeeze out smaller competitors and extend their dominance in a consolidating industry.

“It’s like a self-reinforcing theme — the more property stocks rally, the more buyers are confident on the consolidation theme that’s benefiting the largest players,” Alan Jin, property analyst at Mizuho Securities Asia said by phone.

Lee Wee Liat, a Hong Kong-based analyst at BNP Paribas SA, said that overseas funds are also improving the appeal of some long-dismissed companies that pay record-high dividends. “The story becomes very compelling,” Lee said.

Investors are betting those large developers — many of whom maintain cross investments or have a history of trading assets — will continue to wrest market share from smaller businesses.

Hui Ka Yan’s Hong Kong-listed China Evergrande Group, the country’s largest developer, has risen 534% this year and reported that its revenue more than doubled through June. Sun’s Sunac China Holdings Ltd, a residential and commercial developer based in Tianjin, increased revenue 25.9% and is up 501%. China Evergrande Chairman Hui Ka Yan and Sunac’s Sun Hongbin have collected the vast majority of the year’s gains, adding $42.5 billion between them.

Kaisa Group Holdings, which operates in more than 50 cities, has risen 222%, after rebounding from a corruption controversy that threatened to bankrupt the business and halted trading of its shares from April 2015 until this March.

The rise has added $648 million to the fortune of Chairman Kwok Ying Shing, 52, who owns 24% of the company and has a net worth of $948 million, according to the Bloomberg Billionaires Index. Kwok also owns 8% of watch retailer Hengdeli Holdings and electronic components maker Mega Medical Technology respectively. His brother, Kwok Ying Chi, a former director of the company, has a 14% stake valued at $756 million.

A representative for Kaisa declined to comment on the brothers’ net worth.

The valuations are also helped by a limited public float for company shares, as well as cross dealing among the tycoons. Kaisa shares, which quadrupled in September, reached an all-time high the day after a group led by the wife of property mogul Joseph Lau bought about $600 million worth of Kaisa bonds, her second investment in the business this year. The Lau family has also accumulated a 7% stake in China Evergrande.

Hui’s $33.4-billion gain this year puts him just $5.2 billion behind Alibaba Group Holding Ltd. founder Jack Ma, Asia’s richest person with $46 billion, according to the Bloomberg index, a daily ranking of the world’s 500 richest people. Lau has added $908 million this year and has a $8.9-billion net worth.

“Limited liquidity of the stock is part of the reasons for stock surge,” said Philip Tse, vice-president of Bank of Communication International Holdings, “but the fundamentals of the mainland real estate companies are still performing well with increase both on sales and margins.”

A UBS Wealth Management report released this month said it expects 20% earnings growth for large listed developers in next 12-18 months. Still, the rally has begun to show some signs of weakness as China’s leaders have pledged to snuff out asset bubbles, with President Xi Jinping renewing a call earlier this month that homes are for living in and “not for speculation.”

The Bloomberg China Real Estate Owners and Developers Valuation Peers index slipped 9.6% from its peak on Sept. 21. The index, which tracks 22 mainland developers, is up 106% this year.

“Not all rallies are sustainable,” said BNP’s Lee. “The next phase of the rally should be very selective, favoring those who can truly gain market share.” — Bloomberg

Chinese universities start ‘Xi Thought’ institutes

October 31, 2017 | 12:03 am

BEIJING — Xi Jinping Thought will now be taught, researched and promoted in universities across China, ensuring that the leader’s eponymous philosophy is implanted into students’ hearts and minds.

At least 20 universities have established research institutes for Xi’s ideology, which was enshrined in the Communist Party’s constitution during its 19^th national congress this month.

The distinction places Xi on a par with Mao Zedong and Deng Xiaoping. It means that his dogma — “Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era” — will become a mantra for a new generation.

According to media reports Sunday, the research institutes will not “hide in the ivory tower” but advocate the incorporation of Xi thought in all aspects of daily life. “We will gather many experts and professors to disseminate and preach Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era in businesses, neighborhoods and villages,” Jiang Hongxin, head of Hunan Normal University’s newly founded Xi Thought research center, told the People’s Daily, the party mouthpiece.

Jiang’s attitude mirrors that of many institute directors, who in interviews with Chinese media over the weekend espoused a deep devotion to spreading Xi-isms.

The education ministry also released guidelines Monday for mandatory elementary and high school extracurricular programs that include activities to “foster emotional attachment to the Chinese Communist Party.” — AFP

UnionBank’s earnings decline in Q3

October 31, 2017 | 12:03 am

UNION BANK of the Philippines (UnionBank) saw its net profit decline in the third quarter, dragged by lower earnings from trading and other miscellaneous items, which offset an increase in its interest income.

In its quarterly report released on Monday, Aboitiz-led UnionBank said it booked a net income of P2.03 billion in the third quarter, down from the P4.22 billion it recorded in the same period in 2016.

The report showed that the bank’s interest income for the quarter – which includes income from loans and trading and investment securities, among others – rose to P6.2 billion from P4.96 billion in the comparable year-ago period.

Minus expenses for liabilities, UnionBank’s net interest income was at P4.39 billion, up from P3.64 billion the previous year.

However, this increase in interest earnings was offset by a drop in its other income, which totalled P2.18 billion, down from the P5.45 billion booked in the same quarter last year.

The report showed that this was due to a net loss from its sale of trading and non-trading financial assets worth P48.24 million – a reversal of the previous year’s net gain worth P3.83 billion – as well as slight decrease in its fee-based income to P1.13 billion from P1.18 billion.

Meanwhile, the bank’s expenses in the third quarter was mostly steady at P3.43 billion from P3.59 billion.

The third-quarter performance brought UnionBank’s nine-month net income to P6.39 billion, down 21.46% from the P8.14 billion booked in the same period last year.

The report said the bank’s total resources grew by 4.76% to P549.4 billion as of Sept. 30, up from the P524.43 billion reported as of Dec. 31, 2016, driven by increases in loans and other receivables – net and investment securities at amortized cost.

UnionBank’s total capital funds rose 6.5% to P71.98 billion as of Sept. 30 from P67.59 billion as of Dec. 31, 2016, according to its quarterly report.

The bank’s capital adequacy ratio was at 15.1%. Its net non-performing loan (NPL) ratio stood at 1.4%, while its NPL cover was at 100.2%.

UnionBank President and Chief Operating Officer Edwin R. Bautista said last week that the bank is expected to “sustain the strong growth” in its net income.

Shares in UnionBank closed at P87.10 apiece on Monday, up by 20 centavos or 0.23% from the Friday’s finish of P86.90 per share.

SM to install e-vehicle charging stations in malls

October 31, 2017 | 12:03 am

SM Supermalls has agreed to install around the country the fast-charging stations for electric vehicles of QEV Philippines, the tech start-up said on Monday.

In a statement, QEV Philippines Electromobility Solutions and Consulting Group, Inc. said SM Supermalls signed an agreement to put up the ABB electric vehicle (EV) fast chargers that allow two separate charging protocols.

“The installation of EV charging infrastructure will support the proliferation of the EV industry as well as aid QEV’s mission to reduce carbon emissions and make use of a more sustainable source of energy in order to have cleaner and greener cities,” it said.

The agreement follows a similar deal it signed earlier this month with Pilipinas Shell Petroleum Corp., which agreed to install 100 pilot sites for the EV charging posts.

“The ABB EV chargers will be able to charge EVs that are either on the CCS and Chademo protocol. While most European cars like BMW already have vehicles that charge with CCS, most Japanese branded-EVs such as Nissan and Mitsubishi make use of Chademo,” QEV Philippines said.

QEV Philippines is the joint venture between Filipino businessman Enrique M. Aboitiz and his Spanish business partner Enrique Bañuelos. They plan to put up at least 200 EV fast chargers nationwide by 2022 with the help of location partners. Mr. Aboitiz is a director of Aboitiz Equity Ventures, Inc.

QEV Philippines, the local unit of QEV Capital Pte. Ltd., did not immediately respond when asked about the number of stations it will put up at the malls.

SM Prime Holdings owns SM Supermalls, which has a 63 shopping malls in the Philippines.

In QEV Philippines’ deal with Pilipinas Shell, it said the first installations of the charging stations would take place in December 2017. – Victor V. Saulon