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First, do no harm

The View from Taft — Armando J. Aguado

Known as primum non nocere in Latin, “first, do no harm” is often thought to be a part of the Hippocratic Oath that physicians take to symbolize their formal entrance into the profession. While the exact turn of phrase is nowhere to be found in the modern-day version of the Oath, the ideal it espouses remains at the core of every medical professional.

In my line of work, I have had the chance to see firsthand some of the significant challenges faced by the medical profession. Ranging from bed shortages, medicine unavailability, undermanned medical staff, and poorly maintained equipment, there is no shortage of concerns. One glaring area of opportunity is around the working conditions of hospital front-liners, particularly the resident doctors who work through graveyard shifts and take charge of the emergency rooms. To be a resident doctor, one must have received a bachelor’s degree, graduated from medical school, completed a year-long post-graduate internship (PGI), and passed the licensure exams. However, after all those years of schooling (roughly 4 years of college, 4 years of medical school, and 1 year of PGI), resident doctors in our country continue to be severely underpaid and extremely overworked.

Now, mindful that many doctors enter medicine with the noble purpose of helping others, let us set aside for a moment the part on being underpaid for the important work they do. What concerns me more are stories about how our resident doctors continue to work extended duties of up to 36 hours.

By way of comparison, if you knew that the driver of a vehicle you were about to ride in has been awake for that long, would you be comfortable having him or her drive for you? It would be a minor miracle if he or she could keep his or her eyes open, let alone drive safely. Why, therefore, shouldn’t the same standard apply to our doctors, who are every bit as human as the driver in our scenario?

In a 2008 study published by the Joint Commission Journal on Quality and Patient Safety, resident doctors working shifts longer than 24 hours were found to be at much greater risk for “occupational sharp injury, a motor vehicle crash on the drive home from work, and making a serious or even fatal medical error.” These findings have since been backed up in a 2013 report by Dr. P. Murali Doraiswamy of the Duke University Medical Center, who cited that doctors who were forced to work more than 24 hours made up to five times more serious diagnostic errors versus those on shorter shifts. It is thus no surprise that in the US, Canada, Australia, and Europe, governments and medical associations have restricted daily work for medical residents from between 16 to 28 hours (already inclusive of the hours for transitioning care).

In the Philippines, Senator Loren Legarda has taken up this cause and sponsored the creation of the Medical Residency Act of 2009, which seeks to limit working hours of residents to 24 hours and increase their compensation. Unfortunately, eight years later, the bill continues to languish in Congress with no end in sight.

This system badly needs remediation. In the absence of government action on the matter, hospitals should step in, do what is socially responsible, and join their foreign counterparts in ending this practice of 36-hour and “perpetual” duties.

Whatever cost savings are incurred for keeping residents on these highly extended duties should not outweigh the risks to the care of patients, or the health of the doctors themselves (not to mention the legal and reputational risks for malpractice cases). Otherwise, we will continue to play with fire with the safety of patients and the well-being of resident doctors nationwide.

“First, do no harm” should not just guide doctors, but should apply to them, too.

Armando J. Aguado is an affiliate of the American Psychological Association and a lecturer with the Department of Psychology of Mapúa University. He is taking his Doctor of Business Administration studies at De La Salle University.

armando_ricardo_aguado@dlsu.edu.ph

Let’s hear it for the cast

Fence Sitter — A. R. Samson

Musical theater often reserves a rousing, wake-up-the-nappers number for the end that also seamlessly segues into the curtain call where the cast is reintroduced in groups or solo, for their share of a standing ovation and scattered whoops of appreciation. The main stars fade back for this last number with the chorus line left behind, then reappear in ascending order of importance.

Can there be a more rousing ending than the finale of the fun musical Kinky Boots (showing at RCBC) where the whole cast prances around and bellows “Raise you up/ Just be,” all of them, yes all, male and female (“and those who haven’t made up their minds”) dancing on stiletto heeled thigh-reaching boots? For a musical with unfamiliar songs (albeit with words and music by Cyndi Lauper — but no “Time After Rime” or “True Colors”) but with great credentials (bestowed with the Tony, Olivier, and Grammy awards) the performance was awesome with the audience reaction to match. The dance numbers made me hold my breath for the possible ankle injury for the men in drag and heels. There was thankfully no call for audience participation — bring your own stiletto boots.

I always enjoy the curtain call as an opportunity to show appreciation and love for hard work made to look like simple fun. A prolonged applause punctuated with lusty screams of delight and dancing-in-place demonstrate the rollicking success of Kinky Boots. Movies too (like Mama Mia with an awkward Pierce Brosnan) in the end credits employ this device to show the actors performing one more number, or splicing together bloopers and outtakes. The Marvel movies have patented using the rolling end credits for a short trailer, a nasty device that moviegoers too eager to leave miss, thinking there’s nothing more to see but the name of the caterers and hairdressers.

Curtain calls need to be part of our culture. Applause is a way of showing gratitude for talent and hard work.

The curtain call’s equivalent in the corporate world is the “despedida party” for executives on their way out. This ritual aims to honor a departing colleague who gets treated and toasted (or roasted) by those staying behind. However, unless the retiree is leaving on his mandatory retirement or migrating to Canada to pursue career opportunities in retailing bed sheets, an exit is not always cause for celebration.

Of course, there’s the food and drinks, maybe a singer the honoree can duet with. The banquet allows people to do something enjoyable without having to talk to each other or speculate on the real story behind this occasion.

There are speakers that applaud the honoree — he always asked me to do work he passed off as his own, and that’s how I learned to outsource. This parade of speakers extols the honoree’s virtues. The accolades revolve around “niceness.” Note that this is different from making meaningful contributions to the bottom line.

Anecdotes fall under the category of thoughtfulness — he brought me home one time during a typhoon where he himself got stranded and had to check into a motel with his EA. These heroic stories are seldom work-related.

There is a video presentation to lighten up the mood. Pictures of the honoree are shown, when he still had hair and his waistline did not require industrial-strength belts. Some triumphal moments include video greetings from past bosses — I don’t remember his first name.

The tricky segment is the “acceptance speech.” Like the loser in a talent contest who still has to render a final number and say positive things about the judges, this segment requires self-control and the ability to be a good sport. This part is done at the end, when everyone is drunk and half of the invitees have gone home.

Should companies simply emulate the theater tradition of a curtain call? The honoree can just take a bow and be joined by a supporting cast for the dance number, not necessarily in red stiletto boots, but with the spotlight on the stage as the orchestra raises the pitch of the music for the audience to join in.

And then the house lights go up. The show is over, and the audience heads for the parking area, after a stop at the washroom. Probably, that may not work too well with corporate farewells.

There is after all a big difference between a curtain call… and the final curtain.

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

ar.samson@yahoo.com

Uber and Grab should follow the rules

Static — Marvin A. Tort

Grab and Uber, which are referred to as “ride-sharing” companies although seemingly perceived by the government more as transport businesses, have reportedly been each fined P5 million by land transportation regulators for using drivers that lack the necessary government permits.

Doing so violated the terms of Grab’s and Uber’s “accreditation” by the Land Transportation Franchising and Regulatory Board (LTFRB) as Transport Network Companies or TNCs. Meanwhile, erring drivers — or those driving for Grab and Uber without permit to do so — have also asked for amnesty.

I personally benefit from “sharing-economy” services like Uber and AirBnB. I have never tried Grab, nor Lyft, nor Wunder, or any other carpooling service. However, I have used AirBnB locally, and have used Uber in Metro Manila, in Cebu, and abroad. And to be honest, I find these services convenient and practical.

But, while I patronize these sharing-economy services, I still wonder how these businesses are seemingly allowed to operate in the grey. I am unclear as to which laws actually apply, and thus govern and regulate, them and others in the so-called “sharing economy.”

And this lack of clarity, in my opinion, appear to allow these companies to offer services to the public subject more to regulators’ “discretion” rather than clear and precise regulations. Should such a situation continue? Should regulators exercise more discretion rather than universally apply strict standards equally to all?

For example, according to LTFRB itself, the penalty for Grab’s and Uber’s recent violation should have been “revocation of accreditation.” But instead, they were just fined. And this, says LTFRB board member and spokesperson Aileen A. Lizada, is due to the fact that shutting down Grab and Uber is detrimental to the riding public.

In other words, LTFRB decided to hold back its punches in light of what it perceived to be the greater good. However, should this now be the “standard” for the exercise of the state’s regulatory functions? Should laws and rules be applied arbitrarily and with more discretion? Justice must no longer be blind? Will this lead to greater or lesser transparency and accountability in public governance?

An LTFRB official told reporters, “If we follow the penalty imposed by [our rules], the penalty is cancellation of accreditation, but we have been very constant in our stand that the LTFRB stakeholders are the riding public, so we will consider the riding public’s concern, because if we penalize by canceling the accreditation, we are penalizing our stakeholders.”

While I agree with the need for Grab and Uber to continue operating, and understand how and why they came about and have become popular transport alternatives, I don’t exactly agree with the LTFRB logic on this. Not that I want Grab and Uber to lose their accreditation. On the contrary, I want them to stay on.

However, it worries me that LTFRB is setting a dangerous precedent by allowing them to get away with what I consider a major transgression with a miniscule fine. Yes, I believe P5 million is just a drop in the bucket for these two firms. They got a slap on the wrist despite also putting the public at great risk for riding with drivers who lacked the necessary permits.

Grab and Uber justified their violation of LTFRB rules by claiming that they let “Transport Network Vehicle Service (TNVS) drivers” operate their cars and use the ride-sharing systems, even if their permits have not been issued, because of the great public demand for transportation.

Grab Philippines country head Brian P. Cu admits to some negligence in the faithful and strict compliance with government rules, but also claims “all was done in the spirit of competition” and “in the spirit of earnings for our Grab partners.”

He also said Grab was “actually quite happy with the [LTFRB] decision” not to cancel the company’s accreditation and to just fine it P5 million. Of course. Why wouldn’t he be? I mean, what’s P5 million compared to closing shop, right?

Even against a suspension, which leads to business losses during the suspension period, the P5 million fine is still the lighter penalty as Grab, and Uber, and their drivers, get to keep all the profits they made from operating illegally.

I cannot understand how can Grab justify breaking the rules in the “spirit of competition” and in the “spirit of earnings?” Yes, without Grab and Uber even temporarily, the public will suffer. But, the Republic will not fall.

LTFRB, in my opinion, should have instead canceled the Grab and Uber accreditation because of the violation. Pending application of all erring drivers should have been tossed out as well. Then, these TNCs and TNVS drivers should have been made to reapply under stricter conditions, without no assurances or guarantees of approval.

Moreover, these TNCs and TNVs should have been made to account for all the profits they made while operating illegally, and they should have been made to either refund these to customers or credit back to customer accounts, or to pay an equivalent fine to the LTFRB, with the fund to be used to improve LTFRB services.

In the case of LTFRB, I understand that it is already swamped with complaints against erring buses, jeepneys, and taxis. And now, it has to deal with issues involving Grab and Uber. Meeting public transport need is the priority, but this should not be at the expense of the law. There should be little to no incentive for breaking rules of violating the law. And, penalty should be hefty enough to deter violation.

Other than the relatively small fine, LTFRB also goes on to say that there is no deadline for Uber and Grab to remove from service those drivers without permits. Huh? Shouldn’t they be removed immediately? They lack permits and should not be operating, no matter what. I mean, what kind of signal is LTFRB sending all other public utility drivers? That it is ok to violate the law?

Moreover, is this not unfair to those who went through the process and expense of getting permits? Or, is this just LTFRB’s way of apologizing to Grab and Uber, and the public, for its failure to process all the driver applications in an efficient and timely manner?

Drivers justify operating illegally by claiming their permits are pending because their “applications were either not processed judiciously by the previous administration or did not make it to the cut-off as a result of the suspension.” In short, their response to bureaucratic lapse is to violate the law? Should this be acceptable? How different is this from extrajudicial killings?

And now the drivers ask for amnesty, like nothing happened, so they can “get the opportunity to start anew and set things straight.” But wait, while they operated illegally, didn’t they profit? Didn’t they make money? Simply put, profit was their incentive or motivation to violate the law, and not public service? Same with Grab and Uber? And now they ask for another chance?

With Grab and Uber now reportedly up for re-accreditation, perhaps LTFRB should review and rethink its processes to avoid a repeat of the present scenario. Like I said, I support Grab and Uber and their drivers, and I support their continued operations. But, there has got to be a better way of making sure that Grab and Uber and their drivers all operate legally and fairly — and all pay their taxes.

Marvin A. Tort is a former managing editor of BusinessWorld, and a former chairman of the Philippines Press Council.

matort@yahoo.com

Corporate regulator sees ‘really big investigation’ into 2GO’s condition

THE SECURITIES and Exchange Commission (SEC) is giving 2GO Group, Inc. until Friday to submit a written clarification on substantial revisions to its 2015 and 2016 audited financial reports.

In a statement sent to reporters via mobile phone message on Wednesday, the corporate regulator said its Markets and Securities Regulation Department sent a July 11 letter ordering the listed logistics firm “to provide clarification and additional information on the restatement,” including circumstances requiring the restatement; basis of the restatement and reclassification of accounts, “discussing the impact of the newly adopted accounting policy” and overall impact of the revisions on the company’s operations and financial condition, among others.

“The company is required to submit the written clarification on the restatement by July 14…” read the text sent by Armando A. Pan, Jr., officer-in-charge of SEC’s Office of the Commission Secretary.

The revisions had resulted in about a billion pesos slashed from 2015 and 2016 profits, as well as a net loss for the first quarter of this year from a previously reported net income.

SEC Chairperson Teresita J. Herbosa told reporters separately at the Philippine Stock Exchange on Tuesday afternoon that the regulator will quiz both the former and current management of 2GO.

“I don’t think they are normal,” Ms. Herbosa said of the changes, adding that if the discrepancies are “really that big, that calls for a really big investigation.”

“Financial statements originate from the company’s finance officials. They will also be held liable if proven there is fraudulent misrepresentation or even deficiencies — meaning failure to comply with international financial reporting standards, internationally accepted principles of accounting,” Ms. Herbosa explained.

The firm that conducted the audit may also be sanctioned, she added, in this case R.G. Manabat & Co., the local partner of international accounting firm KPMG that has since stood by the results of its work.

“… [F]ollowing our authority to accredit auditors when they do publicly listed companies, we will have to look at whether we have to revoke and impose penalties on them.”

Asked how much in fines 2GO faces should it be proven to have misrepresented its financial standing, Ms. Herbosa replied: “It will not be less than a million pesos.”

“And then there is probably a daily fine of P10,000 at least since the time it was discovered and… attention has been called that there has been really wrong accounting,” she added. “So the penalties will run from that time.”

The new management of 2GO, led by businessman Dennis A. Uy’s Udenna Corp. and Henry Sy, Sr.’s SM group hired SyCip Gorres Velayo & Co. (SGV) to conduct a special audit after they took over the logistics company in April.

Among others, that audit zeroed in on receivables as “key audit matter”, resulting in P3.86 billion worth of receivables in the first quarter that exclude doubtful accounts of P1.46 billion.

It also reduced consolidated revenue “by the amounts that did not meet the revenue recognition criteria” amounting to P53.7 million and P19.1 million for the three months ending March 31, 2017 and 2016, as well as P222 million and P34.7 million for the years ended Dec. 31, 2016 and 2015, respectively.

Neither did 2GO meet in some cases the minimum current ratio and the maximum debt-to-equity ratio required by the company’s long-term loan agreements, resulting in reclassification of some noncurrent liabilities to current liabilities — or those falling due within a year. That resulted, for instance, in current liabilities ballooning 39% to P12.119 billion in the first quarter from the original P8.718 billion.

“However, the group has not received a notice of default from its creditors and the group continues to pay the long-term loans based on original credit terms,” the revised report read.

SGV’s review also significantly altered bottom lines, with net income for 2015 cut by 90% to P105.13 million from the P1.08 billion previously reported, 2016 profit slashed by 74% to P344.03 million from P1.35 billion, and this year’s first quarter recording a P264.863-million net loss from a P267.562-million net income originally.

Ms. Herbosa told reporters: “This time, we are going to prioritize this because of the reports regarding the over-inflated figures,” adding that the corporate regulator wants “the parties to explain why that happened.”

“It will probably entail a special audit,” she said, separate from the SEC’s evaluation of companies’ regular reports.

It will take the corporate regulator three weeks to a month to complete the special audit.

In a statement released on Tuesday, Mr. Uy — speaking as chairman of Chelsea Logistics Holding Corp. that owns about a third of 2GO — said the restated items are non-cash and non-recurring, hence, “[t]he prospective profitability of 2GO remains strong.”

Trading of 2GO shares resumed yesterday after a two-day suspension on July 10 and 11 upon the release of the restated results.

From a closing price of P23.30 each on Friday last week, 2GO stocks yesterday dropped as much as 27% to P17 apiece before significantly paring losses to close just 2.15% weaker at P22.80 per share. — Arra B. Francia

Moody’s: more room for foreign banks to do business in the Philippines

By Melissa Luz T. Lopez
Senior Reporter

FOREIGN BANKS can still find room in the Philippines to cash in on its growth story, Moody’s Investors Service said, noting that sound operating conditions can accommodate new players despite aggressive lending by existing players.

“Right now, where the Philippines is, there continues to be room for growth for the banking system. While there are good propositions for bank consolidation efforts, there continues to be room to accommodate more entrants in the market,” Moody’s vice-president and senior analyst Simon Chen said in a recent roundtable discussion with the media.

“We are seeing more and more foreign banks being involved in the banking system. If we look at overall banking system, there continues to be healthy competition.”

There were 599 banks in the Philippines as of end-March, fewer than the 602 lenders in business as of end-2016. Mr. Chen said the count declined as some small banks were forced into liquidation by regulators after these were found unviable.

Despite a few closures, branches expanded to 10,679 offices from 10,576 at end-2016, signaling continued growth of the financial system.

Moody’s maintained its “stable” outlook for the Philippine banking system in its mid-year update for Asia and the Pacific, noting that domestic economic conditions are likely to support bank profits and keep asset quality steady over the next 12-18 months.

In May, Bangko Sentral ng Pilipinas (BSP) Governor Nestor A. Espenilla, Jr. said there were eight new Asian banks looking to enter the Philippines, which would add to nine foreign banks that set up in the country over the last two years.

Mr. Espenilla has said that more global banks see the Philippines as a viable business site, given a huge consumer market, robust overall economic growth and the government’s aggressive infrastructure push that provide opportunities to expand their loan portfolios. These players are searching for new drivers of growth, as prospects in more developed economies in the region moderate.

Mr. Chen added that he expects big banks to see higher non-performing loans as the lenders “refocus” credit lines to the riskier sectors of consumer and small-scale firms, but said that this is unlikely to erode the industry’s generally strong footing.

Bad debts held by Philippine banks accounted for just 1.98% of their total loans as of end-May, lower than the 2.23% share recorded in 2016’s comparable five months, according to latest available BSP data.

In a July 11 report, analysts at BMI Research said they expect bank lending to rise by 17% this year from 2016’s 17.3% increase.

“Our constructive view on the Philippine economy has also been confirmed by improving corporate profitability, and we expect this to have a positive effect on asset quality and profitability of banks over the coming quarters,” their report read, citing the first quarter’s relatively fast 6.4% gross domestic product growth.

Banks’ hefty capital buffers also provide a degree of comfort for local players, as these assure that they have more than enough to compensate for a sudden funding crunch or big-time credit defaults, BMI said.

Universal and commercial banks reported a capital adequacy ratio at 14.38% as of end-2016, which is well above the BSP’s 10% minimum requirement and the international eight percent standard.

New FDI negative list out next month

THE GOVERNMENT expects to issue its 11th foreign investment negative list (FINL) next month, an economic manager and close associate of President Rodrigo R. Duterte said late last Tuesday.

“By about the middle of next month,” Finance Secretary Carlos G. Dominguez III told reporters in Makati City when asked when investors can expect the update on sectors and economic activities where foreign participation is restricted.

“We are waiting for the comments of everybody, and from there we will move ahead with the revision of that negative list,” he said, adding that the review began in May, as announced in a briefing for businessmen in Tokyo in October last year.

Mr. Dominguez had said then that the government “will be opening areas to investments that have been administratively limited, and this will be done in May 2017.”

It will be recalled that the existing 10th FINL — issued on May 29, 2015 — was little-changed from previous versions since the Constitution identifies activities and sectors like public utilities and mass media where foreign participation is prohibited.

“We are looking at that very closely… we have to get a consensus of all the members of the economic team of the Cabinet,” Mr. Dominguez said.

Socioeconomic Planning Secretary Ernesto M. Pernia told reporters separately at the National Economic and Development Authority (NEDA) headquarters in Pasig City on Monday that economic managers are looking where foreign ownership restrictions can be relaxed without legislation.

“The President’s preference is up to 70% foreign ownership and 30% local ownership for utilities,” Mr. Pernia told reporters on Monday at the NEDA headquarters in Pasig City.

Mr. Dominguez said the administration will explore relaxation of such restrictions “provided it’s allowed by law and the Constitution.”

“The only limitation we have there is… what is legislated and what is in the Constitution: that is the only limit because we’re only reviewing those things that can be done administratively.”

Mr. Pernia added that the Executive may also ask Congress to revise relevant laws without touching the Constitution, whose amendment involves a tedious process.

“There’s a move to revise the Public Service Act so that utilities, telecommunications, can be redefined so that they will not be in negative list,” Mr. Pernia said, referring to the outdated Commonwealth Act No. 146 of 1936 and subsequent amendments.

Mr. Dominguez said the proposal under House Bill No. 4389, authored by former president and now House Deputy Speaker Rep. Gloria M. Arroyo of Pampanga’s second district, “is a pretty interesting bill.”

“If you change the definition… what a public utility is… then you might be able to open (that sector),” Mr. Dominguez said.

“We… look forward to the FINL becoming more positive by being less negative,” John D. Forbes, senior adviser of the American Chamber of Commerce of the Philippines, said in a mobile phone message.

“We look forward to further shortening of the list, especially in the public services sector.” — Elijah Joseph C. Tubayan

Arellano looks to book 2nd win on home court

By Michael Angelo S. Murillo
Reporter

WINNERS in their Season 93 debut on opening day, the Arellano Chiefs go for a second straight win today on their home turf against the San Sebastian Stags as the National Collegiate Athletic Association (NCAA) goes “on tour.”

To be played at the Arellano Gym in Legarda, Manila, at 4 p.m., the Chiefs look to follow up on their 91-82 win over the Mapua Cardinals on Day 1 of Season 93 with a win over the Stags, a team out to bounce back after losing in its season debut.

In booking its first victory in the brand-new season of the country’s longest-standing collegiate league, Arellano was towed by the efforts of guard Kent Salado, who scored a game-high 24 points to go along with seven rebounds and four assists.

He was ably backed by Michael Canete, who had a double-double of 17 points and 12 rebounds.

The Chiefs used a strong second half to pull off the win after being held down for much of the opening 20 minutes.

“The win is sweet as the jitters were evident in the players, this being our first game of the season. They felt the pressure but I’m happy they were able to rise up against it and pull off the win,” said Arellano coach Jerry Codiñera of their debut win.

Meanwhile, looking to spoil Arellano’s party at home today is San Sebastian, this year’s tournament host.

The Stags gallantly fought against the defending champions San Beda Red Lions on opening day last Saturday but faltered in the end to bow down, 76-67.

Michael Calisaan was the top scorer for San Sebastian with 13 points while Lorenzo Navarro, a transferee from La Salle, had a solid debut of 12 points, seven assists and three steals.

“Our mind-set for this season is to work our way back to the glory days of San Sebastian basketball. We will always be underdogs since we are not parading any foreign players but the boys want to win and that’s a start,” said Stags coach Egay Macaraya in the lead-up to the tournament.

The “NCAA on Tour” game today marks the second time that league is holding one early in the season following that of last Sunday held at the Colegio de San Juan de Letran featuring Juniors games between San Sebastian and San Beda and Mapua versus Arellano.

One of the notable changes this season, the NCAA on Tour will see the league hold games in the premises of member schools. The NCAA said the reason behind it is to bring the league closer to its various stakeholders, particularly the students, and to further enhance interest in the league among them.

In holding the games on the road, the NCAA said it has made sure that the venues are at par with tournament standards and security is beefed up to guard the safety of the participants and spectators.

Kent Salado and the Arellano Chiefs try to protect home turf against the San Sebastian Stags as the NCAA goes on tour today. — ALVIN S. GO

Gilas Pilipinas’ 2017 Jones Cup bid on TV5

THE Philippines’ bid in the 2017 William Jones Cup in Taiwan begins this weekend with the country’s cause being carried this time around by Gilas Pilipinas.

TV5 will be bringing all nine games of Gilas live from the Taipei Peace International Basketball Hall from July 15-23 with livestreaming also available over Sports5.ph.

For this year’s edition of the annual international tournament, the Philippines will send its cadet pool backstopped by an import and some late additions.

The 16-man Gilas team, backed by Chooks-to-Go, is composed of Jio Jalalon, Mike Tolomia, Kiefer Ravena, Almond Vosotros, Matthew Wright, Ed Daquioag, Von Pessumal, RR Pogoy, Kobe Paras, Mac Belo, Kevin Ferrer, Carl Bryan Cruz, Raymar Jose, Fonso Gotladera and Christian Standhardinger.

Mike Myers, TNT KaTropa’s standby import in the recent Philippine Basketball Association Commissioner’s Cup, rounds out the team.

The Philippine national men’s basketball team will go up against Canada, Chinese Taipei A and B, Japan, Korea, Iraq, Lithuania, India and Iran.

Gilas Pilipinas looks to make it back-to-back titles for the Philippines and break a tie for second place with Iran with five Jones Cup titles. The United States has the most championships with 15.

In the 2016 Jones Cup, Mighty Sports carried the Philippine colors with its mix of imports and local pros.

The team was composed of Larry Rodriguez, Jeric Teng, Sunday Salvacion, Leo Avenido, TY Tang, Edrick Ferrer, Jason Brickman, Dewarick Spencer, Zach Graham, Mike Singletary, Troy Gillenwater, Vernon Macklin and Hamady N’diaye.

Mighty Sports finished with an unblemished 8-0 record en route to the title.

Gilas Pilipinas coach Chot Reyes said they are looking at the Jones Cup as a “training ground” for the Southeast Asia Games happening next month in Kuala Lumpur as some of their members for the Jones Cup are also seeing action in the SEA Games.

It is also an opportunity for the Gilas players to play in an “elite level of Asian competition,” Mr. Reyes said.

TV5’s coverage of the Gilas campaign in the 2017 Williams Jones Cup begins on Saturday, July 15, against Canada at 3 p.m.

The rest of the coverage is as follows: July 16, Chinese Taipei A at 7 p.m. (TV5); July 17, Chinese Taipei B at 3 p.m. (TV5); July 18, Japan at 1 p.m. (TV5); July 19, Korea at 5 p.m. (Aksyon TV with delayed telecast on TV5 at 9 p.m.); July 20, Iraq at 5 p.m. (TV5); July 21, Lithuania at 3 p.m. (Aksyon TV with delayed telecast on TV5 at 9 p.m.); July 22, India at 1 p.m. (TV5); and July 23, Iran at 5 p.m. (Aksyon TV with delayed telecast on TV5 at 9 p.m.). — Michael Angelo S. Murillo

Kiefer Ravena and the rest of the Gilas Pilipinas team begin their campaign in the 2017 William Jones Cup in Taiwan this weekend. TV5 will be broadcasting all their games in the eight-day tournament. — FIBA.COM

History girls Konta and Venus into Wimbledon semifinals

LONDON — Johanna Konta became the first British woman to reach the Wimbledon semifinals for 39 years on Tuesday, while five-time champion Venus Williams also made history as the oldest semifinalist since 1994.

Konta thrilled the patriotic Centre Court crowd with a pulsating 6-7 (2/7), 7-6 (7/5), 6-4 victory that ended second seed Simona Halep’s bid to become the new world number one.

In a potentially classic semifinal on Thursday, Konta faces American star Venus.

Williams had her own landmark moment on Centre Court with a 6-3, 7-5 win over French Open champion Jelena Ostapenko that made her the oldest semifinalist at the All England Club since Martina Navratilova 23 years ago.

Halep’s defeat means Czech Karolina Pliskova, who lost in the Wimbledon second round, will replace Angelique Kerber on top of the WTA rankings.

Konta, 26, is the first Briton since Virginia Wade in 1978 to make the women’s semifinals.

Wade, the last British woman to win Wimbledon in 1977, was watching from the Royal Box as Konta reached the second Grand Slam semifinal of her career, the other ending in a 2016 Australian Open defeat against Kerber.

“Right now it’s a little bit surreal just because it’s quite incredible how quickly things go in tennis. I’m definitely digesting things a little bit still,” said Konta, who was ranked outside the top 150 two years ago.

“I knew Simona was not going to give me much for free. I had to be the one to create my own chances. I feel fortunate enough that I took a few of them.”

Born in Australia to Hungarian parents, Konta didn’t move to England until she was 14, switching her allegiance from the country of her birth to Britain when she gained citizenship in 2012.

Adapting to the grass courts of south-west London hadn’t been so easy for Konta, who won just one match in her previous five visits to Wimbledon.

Those failures will seem a lifetime ago to Konta now.

If she wins Wimbledon it will be the first grass-court title of her career, coming just two weeks after she feared her participation in the tournament might be ruined by a back injury suffered in the Eastbourne warm-up event.

Standing in Konta’s way is world number 11 Williams, who was beaten in this year’s Australian Open final and is chasing a first major title since winning Wimbledon in 2008.

Williams, who reached the last of her eight Wimbledon finals in 2009, has now equaled her sister Serena’s total of 86 main draw match victories at Wimbledon, the most among any active player.

BEAUTIFUL GAME
“I love this game. That’s why I put in the effort and the time. It’s a beautiful game. It’s been so good to me,” said Venus, who is bidding to break Serena’s record as Wimbledon’s oldest champion in the Open era.

“The competition keeps you growing. You have to get better if you want to stay relevant. I love the challenge.”

Having stunned the tennis world by becoming the first unseeded player to win the French Open last month, Ostapenko was riding an 11-match winning streak at the majors.

But the 20-year-old was the youngest player left in the tournament and Venus has scythed through the draw by dispatching a series of opponents almost half her age.

Twenty years after making her Wimbledon debut, Venus was playing in her 100th singles match at the All England Club, while Ostapenko was in only her eighth.

That gulf in experience was apparent as Venus cruised through in serene fashion.

Garbine Muguruza powered into her second Wimbledon semifinal in the last three years with a 6-3, 6-4 win over Russian seventh seed Kuznetsova.

Since winning her maiden Grand Slam title at the French Open last year, Muguruza has struggled to return to the top and this is her first major semi-final since that Roland Garros triumph.

“I played good. I’m trying not to think a lot, just go for it and play my game. I’m happy it worked out,” Muguruza said.

Muguruza, beaten by Serena in the 2015 Wimbledon final, faces Slovakian world number 87 Magdalena Rybarikova in the last four.

Rybarikova became the lowest ranked woman to reach the Wimbledon semifinals for nine years as she shocked American 24th seed Coco Vandeweghe 6-3, 6-3.

The 28-year-old, who had lost in the first round in eight of her previous nine visits to Wimbledon, said: “I would never ever believe I could be in the semifinal before this tournament.

“I’m really speechless. I’m so happy and grateful.” — AFP

Johanna Konta — AFP

Manny Pacquiao ‘not surprised’ by WBO review

MANNY PACQUIAO is “not surprised” the World Boxing Organization (WBO) affirmed the loss of his welterweight title to Australian Jeff Horn, but the Philippine ring legend railed at large at judges who “manipulated results.”

The WBO ordered a review of the scoring of the July 2 Brisbane bout at the request of the Philippines’ Games and Amusements Board, which criticized the judges and the referee.

The WBO set up a panel of independent and anonymous judges to watch the bout without sound and determine who won each round. On Tuesday it said the judges found Horn won seven rounds to Pacquiao’s five.

“We have seen worse judgments in the past where judges manipulated results. Nothing surprises me now,” Pacquiao said in a statement late Tuesday.

He did not name the judges nor mention the specific fights in his allegations.

“Let the people judge for themselves. People saw what happened,” said the 38-year-old, who had won world titles in an unprecedented eight weight divisions.

The undefeated but unheralded Horn, 29, had stunned the Filipino legend with his ultra-aggressiveness to earn a unanimous decision.

But the Filipino’s camp alleged the referee let the Australian get away with illegal tactics.

The WBO ordered the review while stressing it did not have the power to reverse a decision unless fraud or law violations were proven.

Pacquiao had endorsed the call for a review issued by the Filipino sports regulatory, which lashed out at the “unfair decision and officiating” of the fight.

In a statement sent to AFP on Wednesday, the Filipino regulator thanked the WBO for looking into the fight but blamed American referee Mark Nelson for the results.

“No matter what review they do, it will be hard to change the result as the referee didn’t call it close,” said board chairman Abraham Kahlil Mitra.

“The judges’ scores would have greatly changed if the referee did his job properly,” Mitra alleged.

“He (referee) didn’t give (Senator) Manny Pacquiao the respect and fair protection that is due to a people’s champ,” Mitra said, referring to Pacquiao’s elected post as a Philippine senator.

Horn, a former schoolteacher written off before the bout by most observers, welcomed on Tuesday the ruling as “evidence” of his victory.

“It’s definitely nice to have it finally put on paper,” said Horn, who had been keen for a rematch.

In the twilight of a 22-year pro career, Pacquiao had initially called for a rematch, but later said he would also “think hard” about retiring.

Pacquiao briefly quit boxing last year to pursue his long-held political ambitions and was elected senator. But he quickly made a successful comeback against Jessie Vargas in November, saying he still felt like a youngster.

Pacquiao’s loss to Horn had prompted calls that he retire for good. — AFP

Manny Pacquiao of the Philippines (R) fighting Jeff Horn of Australia during their World Boxing Organization boxing bout at Suncorp Stadium in Brisbane on July 2. — AFP

Expletives, insults as Mayweather, McGregor boxing circus kicks off

LOS ANGELES — Floyd Mayweather and Conor McGregor lit the touchpaper for their cross-combat superfight here Tuesday, turning the air blue in an expletive-laden face-to-face meeting to launch their global promotional tour for the bout.

More than 11,000 fans crowded into Los Angeles’s Staples Center for a raucous first live showdown between former boxing world champion Mayweather and Irishman McGregor, one of the biggest stars of mixed martial arts.

The two men are set to face each other in Las Vegas on Aug. 26 in what could be the richest fight in history after finally agreeing to climb into a boxing ring following a year-long guessing game over whether they would ever do battle.

Tuesday’s fiery face-off saw the swaggering, cocksure McGregor strut onto stage confidently in a three-piece suit featuring pinstripes made up of an offensive two-word insult.

The immaculately tailored profanity set the tone for a spectacle shot through with an endless torrent of abuse from both fighters, no doubt delighting promoters as they drum up hype for a bout which will demand $10,000 for ringside seats.

The suited McGregor was the first to take the microphone, mocking Mayweather’s decision to show up wearing a Stars and Stripes tracksuit, suggesting it was linked to the American’s reported tax difficulties.

“He’s in a tracksuit, he can’t even afford a suit anymore!” McGregor declared to roars of laughter from the massed ranks of his green-shirted fans crammed into the lower tiers of the famous basketball arena.

McGregor, who will start as an overwhelming underdog against one of the most accomplished defensive fighters in history, was bullish about his prospects of victory. “The 0 has got to go,” McGregor declared, referring to Mayweather’s perfect 49-0 record.

“I’m going to knock him out inside four rounds, mark my words,” McGregor said, to more roars. “On Aug. 26, this man will be unconscious, he’s too small, he’s too frail.”

“I will come out and paint many pictures. I can fight in my styles. I can dazzle him.”

A stony-faced Mayweather, meanwhile, bided his time before taking the microphone and uncorking his own cascade of expletives.

“I’m going to knock this bitch out,” Mayweather said, to boos from the crowd. McGregor shot back: “You haven’t knocked anyone out for 20 years!”

Mayweather, meanwhile, responded to the jibes about his finances — he recently filed for an extension to pay his 2015 tax bill — by producing an uncashed check for $100 million from an assistant’s rucksack.

McGregor was again ready with a riposte: “Give it to the taxman!”

Mayweather, 40, was unruffled, vowing to administer a comprehensive victory over the 28-year-old Irishman despite giving away 12 years to his younger opponent.

“I’m not the same fighter I was 10 years ago. Or 5 years ago. Or 2 years ago,” Mayweather said.

“But I’ve got enough to beat you. He can choose which way he wants to go. Either on his back or on his face.”

Mayweather later appeared relaxed during a briefing with print reporters, suggesting his snarling braggadocio on stage had been solely for the benefit of the fans who had flocked to the arena.

“We have to give people what they want to see,” the former welterweight king said.

“That’s what the people wanted to see. To have a sold-out arena like today and give these fans something real smooth and calm? They don’t want that. That’s not what they wanted. These fans want entertainment. They got entertained today by both competitors.” — AFP

PSEi climbs ahead of Yellen’s Congress testimony

THE MAIN INDEX rose on Wednesday, nearing the 8,000 level, but still remains in consolidation phase and may be stuck between support and resistance until catalysts emerge.

The bellwether Philippine Stock Exchange index (PSEi) rose 1.02% or 80.23 points to end at 7,938.37 yesterday.

The broader all shares index increased 0.86% or 40.52 points to 4,754.67.

“Once again, the PSEi closes in on the 8,000-level even as the backdrop has not materially changed. In fact, if there have been any changes so far, these have mostly raised concerns, if not outright doubts, on the broad economy’s prospects,” read the market recap of Philstocks Financial, Inc. on Wednesday.

“For now, breaches of the 8,000 line will continue to be met by profit taking, unless a fresh catalyst provides the market enough support to keep above the line,” Philstocks Financial added, noting that investors will mostly be anticipating second quarter earnings releases for catalysts.

“Despite this rally, it appears that the market will stay in a consolidation phase and will move between 7,800 and 8,000 absent any new catalysts,” Manuel Antonio G. Lisbona, president of PNB Securities, Inc., similarly noted in a mobile phone message on Wednesday.

All sectors ended in the green. Property led the charge on Wednesday, jumping 2.14% or 78.3 points to 3,731.65. Holding firms went up 0.93% or 73.39 points to 7,910.91; mining and oil climbed 0.83% or 105.50 points to 12,738.81; industrials rose 0.75% or 82.98 points to 11,145.92; services increased 0.47% or 8.06 points to 1,702.74; and financials inched up 0.06% or 1.33 points to 1,971.83.

Advancers outnumbered losers, 125 to 85, while 42 names closed unchanged.

Value turnover climbed to P9.35 billion yesterday, higher than the P7.17 billion logged on Tuesday, as 1.59 billion shares changed hands.

Foreigners turned buyers anew with net purchases totalling P241.66 million, a turnaround from Tuesday’s net selling of P63.60 million.

Most Southeast Asian stock markets rose on Wednesday in line with broader Asia as fresh controversy over US President Donald J. Trump’s administration had little impact on global equities, with investors looking ahead to Federal Reserve Chair Janet L. Yellen’s comments later in the day.

US stocks took a brief tumble overnight after e-mails disclosed Mr. Trump’s eldest son welcomed help from a Russian lawyer for his father’s 2016 election campaign, but the stocks reversed their losses by close.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.4% on Wednesday.

Indonesia inched up 0.5%, helped by strong gains in the financial sector. Thai shares were up as much as 0.3%, supported by industrials and financials, while Vietnam rose as much as 0.6%.

Meanwhile, Singapore shares fell as much as 0.5%. Malaysian shares were largely flat. — JCL with Reuters

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