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Yield on 10-year Treasury bonds seen sideways

By Melissa Luz T. Lopez,
Senior Reporter

TREASURY BONDS (T-bonds) on offer this week will likely fetch higher yields than current market rates as investors take a wait-and-see stance ahead of a policy meeting in the United States, while tracking rate movements offshore amid worsening geopolitical tensions.

Traders interviewed on Friday said the 10-year T-bonds which will be auctioned off this week will likely see the average yield move sideways from the rate fetched last month.

The government is looking to raise P15 billion worth of reissued debt papers on Tuesday, which have a remaining life of nine years and seven months. The papers were first awarded in May and were returned on the auction block on Aug. 22 and came with an average rate of 4.718%.

For this week, the first trader said yields will range from 4.55-4.65%, while another gave a 4.57-4.65% range. If realized, this would sustain a decline in interest rates coming from the original 4.75% coupon rate of the 10-year debt notes.

The debt notes were quoted at 4.5631% at the secondary market on Friday afternoon.

“Rates might be slightly lower from the previous auction but from the secondary market it’s higher because of the recent US CPI (consumer price index) data was higher than expected. [There’s also] the fear of hawkish statements from the Fed[eral Reserve] come Sept. 19-20,” one trader said in a phone interview.

US inflation picked up in August after five straight months of missing expectations, Reuters said in a report, which some players took as a renewed impetus for the Fed to consider raising rates for a third time this year by December.

However, the trader pointed out that the supposed upward push from developments in the US economy will be “countered by rising geopolitical tensions,” following North Korea’s latest missile launch on Friday over Japan, a known US ally. Escalating fears pulled US Treasury yields down, a move that will be tracked by peso-denominated papers.

South Korea’s President Moon Jae-in and US President Donald J. Trump agreed to exert stronger pressure through sanctions on North Korea following its nuclear and missile tests, South Korea’s presidential office said following a telephone call between the two leaders on Sunday.

“The two leaders agreed to strengthen cooperation, and exert stronger and practical sanctions on North Korea so that it realizes provocative actions leads to further diplomatic isolation and economic pressure,” Blue House spokesman Park Soo-hyun said in a televised briefing.

Another trader said market players will be waiting for cues ahead of the Fed’s policy meeting this week in anticipation of signals as to when they will next raise rates.

“For the past few days, the market has been quiet but in terms of taking positions, the demand is more on the short end or less than 10 years. There will be demand, but with the anticipated possible rate increase by the Fed, they [investors] will be on a wait-and-see,” the second trader said.

Key statements to look for at this week’s Fed policy meeting would be its plans on unwinding its balance sheet, which is expected as the central bank’s immediate move towards rate normalization.

Both traders said the Treasury could still make a full award of its offer during the auction, with demand expected to be at least 1.5 times to twice the planned amount.

The government is looking to borrow as much as P195 billion from domestic sources this quarter through Treasury bills and Treasury bonds. — with Reuters

GOCC subsidies decline 52% in July

SUBSIDIES to state-owned firms declined over 52% in July, according to Bureau of the Treasury data.

The national government remitted P16.87 billion worth of subsidies to government-owned and -controlled corporations (GOCCs) in July, down 52.16% from a year earlier.

Subsidies also declined by nearly the same rate on a month-on-month basis.

The Philippine Health Insurance Corp. which took the largest share of subsidies at P15.11 billion, is equivalent to 89.59% of the total. This was followed by the National Irrigation Administration at P978 million.

In the seven months to July, total GOCC subsidies stood at P75.09 billion, up 4.5% from a year earlier.

So far, the government has remitted 49.32% of the P152.22 billion subsidy budget planned for this year. — Elijah Joseph C. Tubayan

NPA rebels attack solar farm

MEMBERS OF the New People’s Army (NPA), an armed communist group, attacked and damaged late last week Helios Solar Energy Corp.’s 132.5-megawatt (MW) solar farm in Cadiz City, Negros Occidental, authorities reported over the weekend. The NPAs, estimated at 17, used hand grenades, M203 grenade launchers, and rifles to strike at the facility, considered as the biggest solar farm in Southeast Asia. Damaged were 90 solar power panels situated at the southern portion of the farm and a CCTV camera. Lieutenant Colonel Darrell R. Bañez, 62nd Infantry Battalion commander, estimated the damage at P3.1 million. He urged the public to report sightings of armed men in their areas as he condemned the “barbaric act” of the NPA. The P10-billion facility with 427,392 solar panels is located in a 176-hectare area. It was inaugurated in March this year. Cadiz City Mayor Patrick G. Escalante said based on police investigations, the NPA tried to extort money from the company. Mr. Escalante called on the military and the police to step up efforts to ensure the security of investments in the city. Mr. Bañez said soldiers, in coordination with the police 6th Special Action Battalion and Regional Public Safety Battalion 18, are pursuing the suspects. — The Freeman

San Miguel exits plastic bottled water business

SAN MIGUEL Corp. (SMC) will be ending its plastic bottled water business as part of efforts to reduce the company’s impact on the environment.

In a statement issued over the weekend, the diversified conglomerate said it is discontinuing its plastic bottled water line under the brand Purewater. 

“The plastic bottled water business has given us good returns, but we are choosing to forego it in favor of our long-term sustainability goals,” SMC President and Chief Operating Officer Ramon S. Ang was quoted as saying in a statement.

The decision is in line with the company’s initiative to tackle pressing social and environmental issues amid its diversification into the power, infrastructure, and public utilities and fuels industries, Mr. Ang added.

The company will, however, retain the Purewater brand through its investment in filtration technology, which will be deployed to flooded communities in the instance of calamities to ensure that residents have safe water to drink.

“We are happy to announce that the ‘Purewater’ brand will live on, but not as a plastic water bottle business but through SMC’s investment in filtration technology that will be deployed during calamities to make safe drinking water available to displaced and affected families in lieu of environmentally unsustainable bottled water,” Mr. Ang said. 

Aside from discontinuing its bottled water business, SMC last March announced another sustainability program called “Water for All,” wherein the San Miguel group targets to cut its domestic and utility use of water by half by 2025.

SMC is currently in the process of constructing the P24.4-billion Bulacan Bulk Water project along with Korea Water Resources Corp., which is set to provide treated bulk water to various water districts in Bulacan at a charge of P8.50 per cubic meter. 

The project is under a build-operate-and-transfer agreement, giving the SMC-led consortium the right to finance, design and construct the project and 30 years to maintain the conveyance, treatment facilities, and water source.

“Leaving a business like the plastic water bottle business while at the same time helping build the basic right of all Filipinos to safe and affordable fresh water is a big step to a sustainable future,” Mr. Ang said.

SMC posted an attributable net income of P12.96 billion in the first half of 2017, 47% lower than the P24.53 billion recorded during the same period last year. — Arra B. Francia

Indians bounce back after win-streak snapped

WASHINGTON — Cleveland’s historic winning streak may have ended at 22 games, but shortstop Francisco Lindor’s streak was still going strong after the Indians bounced back Saturday with an 8-4 win over the Kansas City Royals.

Lindor hit a run-scoring double in the sixth inning, his 10th straight game with an extra-base hit. That’s a club record, and left him four shy of the major league record of 14.

Lindor had three hits on the night and Edwin Encarnacion homered as the Indians rebounded briskly from their 4-3 loss to the Royals on Friday night.

That was the Indians’ first defeat since Aug. 23. Their 22 straight wins established an American League record and surpassed the 21-game streak put together by the National League’s Chicago Cubs in 1935, but came up short of the Major League record 26-game winning streak of the 1916 New York Giants. — AFP

Michael Kors launches new look store, fall collection

THE MICHAEL KORS flagship store in Makati City has gotten a face-lift which resulted in a brighter store where products are front and center.

Michael Kors launches new look store, fall collectionAligning with the global direction of the American luxury fashion brand, the 10-year-old store at the first floor of Greenbelt 5 has done away with much of its Macassan wood fixtures — though it has been retained in the upper parts of the walls and the floor — and replaced it with cream-colored walls with shiny metal accents resulting in a more open and brighter space.

The new store design also included more shelves in order to put the Michael Kors accessories (handbags and jewelry) front and center.

Michael Kors launches new look store, fall collection

But aside from the new store, which was formally launched in Sept. 15, the brand also unveiled its Fall 2017 lineup which comprised of three main looks: Effortless Cool, Rock Chic, and Tough Luxe.

The Effortless Cool line is described as having rich textures and high-shine gold hardware and a natural palette of camel, chocolate and gold combine for “an autumnal delivery with casual edge,” according to a company press release.

The line includes a slouchy trench coat, a tailored officer’s coat with gilded buttons channeling a military wood, a bomber jacket made of boucle tweed and cognac leather, and a leopard calf hair mini skirt paired with an oversized cardigan and oxfords, all of which home in the idea of “creating an insouciant balance between the masculine and feminine,” said the press release.

Michael Kors launches new look store, fall collection

The Rock Chic line looks back at the 1980s with silhouettes combining the feminine and masculine in order to capture a rock and roll vibe.

Heavy silver-tone hardware and several flashes of this season’s purple hue is said to “embolden the sleek palette of black, white, and gray.”

The line, eye-catching with its Mongolian fur coat and animal print jacquard outerwear complements the romantic blouses and A-line silhouettes. A tweed motorcycle jacket is paired with leather skinnies while ruffles and lace blouses instill the pieces with Victorian-era romance.

Michael Kors launches new look store, fall collection

Tough-chic grommets and pyramid quilting on accessories and footwear solidify “the bold mood of this group.”

The Tough Luxe line, meanwhile delivers elegance “with an inherent edge” as the mostly monochromatic palette is accented with high-shine silver accents and pops of cobalt blue. The silhouettes mirror menswear shapes with biker-chic references as emphasis is made on the shoulders and sleeves rendered in peek-a-boo silhouettes and bell shapes.

Fur accents on the sleeves offer a “fabulous update” to the ever-present motorcycle jacket while a sequined cocktail dress is paired with a jacquard bomber jacket to offer a novel take on the animal print while polished pumps and ankle boots are updated with the season’s favorite cone heel. — Z.B. Chua

BSP stays in the black as of July despite decline in net earnings

THE Bangko Sentral ng Pilipinas (BSP) remained in the black at end-July but saw its net income slip from a year ago as miscellaneous revenues plummeted, latest data showed.

The central bank made P8.5 billion for the first seven months of the year, lower than the P10.95 billion it reported during the comparable period in 2016 but adding to the P3.36- billion profit posted as of April.

Gross revenues dropped by 15.7% for the first seven months of the year to P37.96 billion against P45.02 billion which the central bank booked during the same period in 2016.

Interest income jumped by a fifth to P32.39 billion. However, this was cancelled by a 69% slide in miscellaneous collections which settled at just P5.57 billion, coming from P17.96 billion the previous year.

On the other hand, the BSP saw expenses remain steady at P40.61 billion, just slightly higher than the P40.57 billion recorded as of July 2016. Still, this outweighed the revenues collected by the regulator.

However, a surge in gains from currency trading kept the central bank in profit. Total profits from foreign currency fluctuations reached P11.19 billion, nearly double the P6.5 billion income generated a year ago.

As the country’s sole monetary authority, the BSP sometimes steps in during the daily currency trading to temper any sharp movements that may cause a sudden appreciation or depreciation of the peso.

The peso has depreciated versus the dollar so far this year, and is now trading at the P51 level amid negative market sentiment despite the strong fundamentals of the Philippine economy.

The local currency averaged at P50.1324-per-dollar for the first eight months of the year according to central bank data, slightly higher than the P48-50 range assumed by the country’s economic managers back in May.

Central bank officials have previously said that a weaker peso spelled gains for the central bank while a stronger peso meant trading losses, as the BSP held a lot of its investments in dollars.

The BSP has revived its proposal to put up its own reserves to cushion foreign currency fluctuations under its proposal to update Republic Act 7653 or the New Central Bank Act, which is currently pending in Congress.

With the end-July performance, the central bank remains on track to ending the year in profit, which if realized would sustain the recovery to a P17.81-billion bottom line in 2016. Last year’s performance ended five straight years of net losses for the BSP. — Melissa Luz T. Lopez

British police arrest second man over London tube attack

LONDON — A second man has been arrested over Friday’s bomb attack on a London underground train that injured 30 people, police said on Sunday, as Britain remained on its highest level of alert with soldiers helping provide security.

The 21-year-old man was detained under Britain’s Terrorism Act in the west London suburb of Hounslow just before midnight on Saturday, the Metropolitan Police said in a statement.

Police arrested an 18-year-old man in the port of Dover earlier on Saturday and then raided a property in Sunbury, a town near London and about four miles (six km) from Hounslow.

The home-made bomb shot flames through a train carriage packed with commuters at west London’s Parsons Green Tube station but apparently failed to detonate fully.

Islamic State claimed responsibility as it has for other attacks in Britain this year, including two in London and one at a concert by American singer Ariana Grande in Manchester in May.

Intelligence officials say there is scant evidence the militant group was behind the attacks.

Prime Minister Theresa May put Britain on its highest security level of “critical” late on Friday, meaning another attack might be imminent. Soldiers and armed police were deployed to strategic locations such as nuclear power plants.

The first man arrested on Saturday was detained in the departure lounge of the port of Dover in what police said was a “very significant” step.

The first arrest on Saturday took place at the Dover ferry terminal — a main link to Europe. A “number of items” were recovered during the operation and the teenager is now in custody in London, officers said.

Police had earlier raided a home in Sunbury, a town west of London. Local residents quoted in British media said the owners of the house were elderly foster parents.

The last time Britain was put on “critical” alert was after a suicide bomber killed 22 people at the Ariana Grande concert.

On that occasion, the threat level remained at the highest setting for four days while police raced to establish if the bomber had worked alone or with the help of others. Prior to that it had not been triggered since 2007.

Home Secretary Amber Rudd said Saturday that police had made “very good progress” in their enquiries, while appearing to dispute claims by US President Donald J. Trump that a “loser terrorist” behind the attack was known to Scotland Yard.

“It’s much too early to say that,” Mr. Rudd said in a televised interview.

Mr. Trump’s claims, made Friday on Twitter, had already garnered a terse rebuke from Britain’s Ms. May, who said: “I never think it’s helpful for anybody to speculate on what is an ongoing investigation.”

Ms. May also announced on Friday that a thousand troops would be deployed to take on the responsibility for guarding key sites, including nuclear facilities.

‘FIREBALL’
The improvised device at Parsons Green, a quiet and well-off residential district, failed to detonate fully.

But the blast inflicted flash burns on passengers, and prompted dozens of others to flee in panic.

Twitter user @Rrigs posted pictures of a white bucket smouldering on the train and described how a “fireball flew down carriage and we just jumped out open door.”

The bucket, which was inside a frozen food bag, looked like the type used by builders and there appeared to be cables coming from it.

Louis Hather, 21, had been traveling to work and was three carriages down from where the explosion took place.

“I could smell the burning. Like when you burn plastic,” he told AFP.

He was trampled on as panicking passengers stampeded out of the station and his leg was badly cut and bruised.

The bomb’s remnants were examined by forensic scientists but no further details were released.

Several victims were taken to hospital, though health authorities said none were in a serious life-threatening condition. — Reuters and AFP

Ethanol industry’s demand for molasses drops, SRA says

THE Sugar Regulatory Administration (SRA) said it will look into the reduced purchases of feedstock by ethanol producers, which has reportedly caused stocks of molasses held by sugar mills to rise.

SRA Planning and Policy Manager Rosemarie S. Gumera said ethanol production was 117 million liters as of end-June, only 45% of the 260 million liters targeted for this year. The output for 2016 was 230 million liters.

“Some ethanol plants have slowed down in their operations, so molasses purchases are down. That is why we have received reports that some sugar mills’ molasses tanks are overflowing,” Ms. Gumera said in an interview with BusinessWorld last week in Quezon City.

Data from the SRA showed that molasses output totaled 1.46 million metric tons (MT) during the 2016/2017 crop year which runs from September to August, up 21.67% from a year earlier.

Of the country’s 11 bioethanol plants, most use molasses while others are multi-feedstock users.

Inadequate molasses production has been a constraint on ethanol output. Currently, the industry is testing constraints of another kind — mill storage capacity of molasses, a sugar refining by-product.

Molasses held by mills as of Aug. 31 was 365,109.12 MT, well above the previous crop year’s ending balance of 162,895.17 MT.

Ms. Gumera said the drop in demand for domestic ethanol could be due to a decline in overall fuel demand or competition from imports.

Under Republic Act 9367, or the Biofuels Act of 2006, oil companies are required to use least 5% bioethanol in gasoline.

The law requires that this be fulfilled via locally sourced bioethanol. However, due to the inability of domestic supply to meet demand the government has allowed oil producers to fill the void through imports.

“Oil companies have said they are complying with the law. But maybe they imported too much, or that demand has slowed down. Those are the possibilities,” Ms. Gumera added.

The SRA official said it will continue to monitor molasses withdrawals at the mills.

A new ethanol plant in Balayan, Batangas owned by Emperador Distilleries, Inc. is expected to operate next year.

The facility has a capacity of around 50 million liters which will bring total ethanol capacity to around 372 million liters next year. — Janina C. Lim

Clothing takes a back seat to self-promotion at NY Fashion Week

AT 6 P.M. last Tuesday, for one of the final shows of New York Fashion Week, a throng of photographers and a file of eager spectators mobbed a side street in Manhattan’s Greenwich Village. The garage door of 16 Morton St. was then raised to reveal 16 models perching on porch swings.

They were wearing Cynthia Rowley’s perfectly lovely spring collection, which was sheer, sporty, and exactly on trend. “Dream a Little Dream” gently drifted from the loudspeakers as fashion-week regulars stormed the scene. A perplexed onlooker asked, “Why are people so excited to take pictures of people swinging on swings?”

Because it was New York Fashion Week, of course. The goal of the enterprise is to sell clothes, but more than ever, the events of fashion week found people selling ancillary products — wines, and cars, and most of all themselves as the influence of influencers reached a fever pitch.

Sure, the runways were filled looks that extended and amplified the hottest looks of the current season. There were denim (Alice+Olivia), double denim (Tom Ford), and head-to-toe denim fantasias (Oscar de la Renta). There were pinks that ranged from pretty (Cinq a Sept) to shocking (Christian Siriano). Sheer tops, shown by everyone and showing everything, also ruled.

But with some of America’s most notable designers (Thom Browne, Rodarte, Rick Owens) instead showing in Paris, and with those who remained also increasingly showing men’s clothing, the emphasis on digital spectacle was more spectacular than ever. It felt like a shift, small but meaningful, in the nature of the event, as if NYFW had moved from the Baroque era ushered in by the ascent of Instagram into a manic Rococo phase. It’s always been a zoo, but now the zookeepers are frantically touting their tie-ins, collaborations, and synergies.

Clothing takes a back seat to self-promotion at NY Fashion Week

It is now, for instance, a place where — allowing exceptions for Nicki Minaj and various Jenner-Kardashians — the reigning celebrity is NBA star Russell Westbrook. Omnipresent, Westbrook used the week as a platform to launch a coffee table book, Style Drivers, via a Q&A at the 16th St. outpost of Barneys New York. His answers were circumspect enough for any post-game interview. Who was his own personal style icon? “My mom.”

On Sunday night, I went to La MaMa Experimental Theater to experience the synergy at its most restrained. Opening Ceremony presented its spring line by way of a dance performance created by film director Spike Jonze and starring actors Lakeith Stanfield (Atlanta) and Mia Wasikowska (Crimson Peak).

True, the full title of the presentation was Opening Ceremony & American Express Platinum present ‘Changers’ and you could buy a $45 T-shirt celebrating it on the way out. But it was as thoughtful and tasteful as the company’s knitwear.

Further downtown, at Fulton Market, there was a party to celebrate the designers of the streetwear brand Public School and a bottle they’d crafted for Moët & Chandon. The event was like a full-employment plan for semi-pro Instagrammers. Naturally, it involved a drinking fountain gurgling with pink Champagne.

This presentation of sparkling wine was positively high-falutin’ compared with that at Rowley’s. There, when I grabbed a glass of prosecco, the cater-waitress smiled and said, “This is Christie Brinkley’s new line,” adding, “You can go on wine.com to order.”

Clothing takes a back seat to self-promotion at NY Fashion Week

Still wondering what it would take for the big Champagne bubble of the new NYFW reality to burst, I caught up with Rowley after she had pulled the hem of her floor-length dress out of the back of a fan set on the floor. “I like a big adventure,” she said. “I like sports. I like daring feats… For me, all those things combined with a fun, free-spirited feeling about” — here, a well-wisher passed by — “thanks for coming! Sorry it’s so crazy.”

But this was hardly the craziest event of the week. That award went to Alexander Wang, who summoned the fashion press for an event dubbed #Wangfest on a dead-end street in Bushwick, Brooklyn, and then asked them to wait for 75 minutes until his models arrived, via party bus, in lackluster sportswear. The brutality of the reviews still ring: “The collection shown Saturday night was such a side note to the unwieldy, confusing event, it’s barely worth discussing.”

While other journalists were interviewing Wang in “a movie-set trailer that smelled of vomit,” I was outside the Hammerstein Ballroom in Manhattan, navigating a rugby scrum to gain entrance to the Philipp Plein show. Because guests had dressed in a way that matched Plein’s vision of excess, the press of bodies-upon-bodies in the overflow crowd on 34th Street created an interesting texture of metal studs, black leather, and blue mohair.

Inside, the hectic scene transferred to a spectacle that went heavy on dance, with solo performances from Dita Von Teese (the burlesque star and glamour model) and Teyana Taylor (the hip-hop multi-hyphenate who memorably gyrated in Kanye West’s “Fade” video) and chorus girls who dressed in boots and bodysuits and evidently learned their choreography at Scores.

At Plein’s afterparty (also at Hammerstein, with Nicki Minaj performing), as at Wang’s, bartenders relied on Red Bull as the mixer of choice. Call it the official sponsor of the most overcaffeinated fashion week in history. — Troy Patterson, Bloomberg

4.1 tremor off Guian

A MAGNITUDE 4.1 tectonic earthquake was recorded 39 kilometers off Guian town in Eastern Samar at 11:00 a.m. Sunday. The Philippine Institute of Volcanology and Seismology said in its bulletin that no aftershocks were expected and there were no immediate damages reported. A milder 2.5 tremor was also recorded in neigboring Ormoc City, Leyte at 11:16 a.m.

Guirhem and Pason seize Shell Cebu chessfest lead

FIFTH seed Fiona Guirhem took charge in the juniors division while no. 2 Allan Pason upended top seed Felix Balbona in the sixth round to wrest control in seniors play halfway through the 25th Shell National Youth Active Chess Championship Visayas leg at SM City Cebu last Saturday.

Top seed Jerish Velarde and no. 20 Jeraian Cagang, on the other hand, posted 5.5 points each to share the lead in the kiddies side of the fifth and final regional eliminations of the country’s longest talent-search sponsored by Pilipinas Shell.

Guirhem, a mainstay of Central Philippine U, toppled Braven Maralil, Adelyn Bensi and Marie Valencia, drew with Cyril Telesforo then trampled Remegio Galenzoga III and Jeremy Tanudra to set the pace in the 13-16 age bracket with 5.5 points.

But eight others stood just half-a-point behind, including top seed Chris Pondoyo, Manilyn Cabungcag, Jave Peteros, Alphecca Gonzales, Jane Quinanola, Reishi Polan, Telesforo and Tanudra, guaranteeing a fierce battle in the last three rounds of the two-day tournament sanctioned by the National Chess Federation of the Philippines.

Earlier, Sankie Simbulan, Social Investment manager of Shell Companies in the Philippines, and Pilipinas Shell Petroleum Corp. Retail Territory manager Greg Moratin made the ceremonial moves.

Pason, meanwhile, repulsed Balbona in the sixth round to move on top of the 17-20 division with perfect six points, a full-point ahead of Jethro Esplanada, Adrian Basilgo, Gerard Gelera, Marc Villarojo, Michael Canizares, Joshua Panes, Jethro Caparino, Sheila Mae Diloy and Balbona.

Pason earlier hurdled Paul Arenilla, Lyan Portes, Rose Poster, Rowena Padro and Jethro Esplanada before repulsing Balbona with the black. Velarde, on the other hand, defeated Tiffany Camuin, Anne Paradela, Kryztyl Badilles, Aaron Resma, Lennox Samson before the Marie Ernestine School standout drew with Andre Cardosa to match Cagang’s 5.5-point output in the 7-12 category.

Cagang, from Guiwanon Elementary School, beat Teosito Tatoy, Jr., Lloyd Sayaboc, halved the point with Andre Cardosa in the third round before crushing Lee Dimagnaong, Edelyn Vosotros and Dwayne Abella.

Second seed Lester Belano, Andre Cardosa, Lennox Samson, Krisen Sanchez and Lloyd Sayaboc pooled five points to remain the race while another half-a-point behind are Karljakin Quilantang, Kryztyl Badilles, Sean Cogonon, Dwayne Abella, Edelyn Vosotros, Lenon Cerrado, Ruth Lim and Jervy Villarin.

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