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Immediate resolution urged for Meralco rate reset issue

BW FILE PHOTO

By Sheldeen Joy Talavera, Reporter

THINK TANK InfraWatch PH called on the Energy Regulatory Commission (ERC) to act immediately on a long-overdue decision on Manila Electric Co.’s (Meralco) fifth regulatory reset.

In a letter to the ERC dated Oct. 30 addressed to then-acting ERC Chairperson Jesse Hermogenes T. Andres, InfraWatch Convenor Terry L. Ridon urged the regulator to release its decision on Meralco’s fifth regulatory period (5RP) covering the years 2022 to 2026.

“This will not only ensure that the benefits promised under PBR (performance-based regulation) are realized by customers but will also send the appropriate signals for investors to come in,” Mr. Ridon said.

Under the Electric Power Industry Reform Act of 2001, or EPIRA, the ERC is tasked with establishing and enforcing a methodology for setting transmission and distribution wheeling rates for distribution utilities.

Distribution utilities such as Meralco are subject to a PBR and a a rate reset process prior to the start of the next regulatory year.

The rate reset process is a forward-looking exercise that requires the regulated entity to submit forecast expenditures and proposed projects over a five-year period, to be reviewed by  the ERC, which will then adjust rates.

Mr. Ridon said it is “high time” for the ERC to issue a formal order on the 5RP to allow parties to proceed with the 6RP, which will commence on July 2026.

He said Meralco’s rate reset should have been issued before July 1, 2022.

The same rules on rate reset “cannot legally be made to apply to a period that has already lapsed and where the forecasts are no longer relevant because actual costs have been incurred,” he said.

“To hold otherwise would be to deprive the PDUs (private distribution utility) and the consumers of PDUs alike of substantive and procedural due process,” he said.

Mr. Ridon said that the decision to consider the 5RP as lapsed is “correct and fair,” and is consistent with the ERC’s own rules and practice.

Asked to comment, ERC Chairperson and Chief Executive Officer Monalisa C. Dimalanta said she has yet to see the letter.

She said at a briefing last week that the commission hopes to issue its decision within the year.

Ms. Dimalanta said the commission has revisited the matter and made some “modifications” following a recent Senate hearing.

Meralco Senior Vice-President and Head of Regulatory Management Jose Ronald V. Valles has said that an estimated P16 billion worth of refunds are expected once the ERC resolves the rate reset and considers the 5RP a lapsed period.

“That’s a big, big, big relief for the consumers. That’s why we want to have closure already,” Mr. Valles said in a briefing.

He said that the power distributor is awaiting an official decision from the ERC to trigger the filing of the application for refund and start preparations for the next period of rate reset.

“In our review of the specific case of Meralco and the regulated entities under PBR, one thing is for sure — there needs to be changes and it has to start with strict adherence to timelines,” Mr. Ridon said.

Gov’t procurement seen as pathway for future exporters to build up track record

BW FILE PHOTO

WOULD-BE exporters can explore government contracting to establish a domestic track record prior to venturing into exports, the Philippine International Trading Corp. (PITC) said.

In a statement, the Philippine Exporters Confederation, Inc., said that businesses should take advantage of the Tatak Pinoy Act.

PITC Vice-President for International Trading Services Joel S. Rodriguez said: “Priority is being given to domestic industries supplying the government under the Tatak Pinoy law.”

Signed into law in February, the Tatak Pinoy (or Proudly Filipino) Act aims to help industries raise their quality standards and drive up the value of their goods and services.

“It is a good tactic to supply to the government because it has the biggest budget for procurement,” Mr. Rodriguez said.

“Under countertrade, we also obligate foreign suppliers to buy from the Philippines. As of to date, we have generated countertrade deals of over $500 million,” he added.

He said interested businesses should register with the Philippine Government Electronic Procurement System and look at the list of items required by the government.

“Would-be exporters are being encouraged to do business with the government because buyers often ask how well the supplier has been performing in the local market,” he said.

“So it is very important for the exporters to establish a good track record in the domestic market … chances that exporters will penetrate mainstream overseas markets will improve if they have a track record in the domestic market,” he added.

Mr. Rodriguez noted the growing demand for food products, furniture, decor, and handicrafts, though buying behavior is changing.

“It is notable that foreign buyers now prefer to buy in smaller quantities from different sources and no longer purchase in bulk,” he said.

“The export market is open to micro, small and medium enterprise producers that have export-ready products that offer competitive prices and comply with international standards,” he added. — Justine Irish D. Tabile

Managing third-party risk

IN BRIEF:

• Shifting from traditional Third-Party Risk Management (TPRM) to agile, real-time methodologies is crucial due to the intricate interdependencies and evolving cyber threats in IT operations.

• Proactive TPRM, powered by AI, enables organizations to predict and respond to third-party risks swiftly, ensuring continuous IT security.

• Embracing transparency and strategic collaboration with vendors fortifies TPRM, equipping organizations to handle emerging challenges and maintain robust IT systems.

In an era where technology is deeply integrated into business operations, managing third-party risk has become a critical concern for organizations worldwide. The traditional methods of Third-Party Risk Management (TPRM) are being challenged by the fast-paced and complex nature of modern IT environments, where external vendors play a pivotal role in day-to-day operations. As the reliance on third parties grows, so does the potential for risk, making it imperative for TPRM strategies to keep pace with the dynamic landscape of IT risks.

This article seeks to explore the transformative approaches necessary for managing third-party risks effectively, ensuring that organizations can maintain robust IT operations amid the ever-present threat of external vulnerabilities.

THE EVOLUTION OF TPRM IN IT OPERATIONS
The complexity and interconnectivity of modern IT operations demand a more agile and continuous approach to managing third-party risks. This necessity is underscored by the escalating frequency and sophistication of cyber threats, which can significantly impact IT operations.

As businesses become more reliant on third-party vendors for essential services, the potential for risk exposure grows, highlighting the need for TPRM strategies that can adapt to new threats as they emerge. The evolving landscape of TPRM in IT operations requires a strategic shift from static, periodic assessments to a dynamic, real-time risk management model that is capable of identifying and mitigating risks promptly.

ADAPTING TO REAL-TIME THREATS
The transition from a traditionally reactive TPRM approach, characterized by annual assessments, to a more proactive and dynamic model marks a significant shift in risk management practices. This shift necessitates the continuous monitoring of third-party activities to swiftly identify and address potential risks.

As an example, a global organization implemented continuous real-time monitoring tools to proactively assess third-party risks. By leveraging advanced analytics and real-time data, they were able to swiftly detect and mitigate potential vulnerabilities introduced by external vendors, enhancing their overall security posture. Continuous threat intelligence and monitoring solutions allowed the organization to detect and respond to third-party risks in real time, minimizing the window of exposure to potential threats.

Integrating cyber threat intelligence (CTI) into this proactive TPRM framework offers a strategic advantage, transforming reactive security measures into a forward-thinking, intelligence-driven approach.

By enabling real-time monitoring of potential vulnerabilities and emerging threats, CTI enhances the ability to share tactical intelligence with industry peers and conduct comprehensive risk assessments, thus strengthening the overall security posture of the extended enterprise. The importance of this approach was starkly highlighted by incidents such as the CrowdStrike incident, which exposed vulnerabilities in third-party risk management and had profound implications for critical IT infrastructure.

Incidents such as these serve as wake-up calls, prompting organizations to reevaluate their TPRM practices. The evolution of TPRM practices post-incident, focusing on lessons learned and the implementation of strategies to prevent similar issues, is essential for safeguarding IT operations against the ubiquitous risk of third-party threats.

INTERDEPENDENCIES BETWEEN TPRM AND IT OPERATIONS
The interdependencies between TPRM and IT operations are becoming increasingly apparent as third-party failures, such as cybersecurity breaches or service outages, directly impact IT operations. These incidents can have cascading effects across an organization, affecting everything from data security to business continuity.

For example, an organization that experienced a service disruption due to issues with a third-party provider strengthened its incident response and disaster recovery plans by implementing redundancy measures and conducting regular recovery drills. This integration of TPRM and IT operations ensured that the organization could swiftly recover and maintain operational stability during future vendor-related disruptions.

The integration of TPRM with IT disaster recovery and incident response planning is crucial for building resilience. Organizations must employ redundancy, backup systems, and other measures to mitigate the impact of third-party risks on IT operations. Understanding these interdependencies is vital for developing robust TPRM strategies that can withstand the ripple effects of third-party issues and maintain operational stability.

NAVIGATING UNFORESEEN CHANGES AND UNVETTED UPDATES FROM VENDORS
The challenge of navigating unforeseen changes and unvetted updates from vendors is becoming increasingly relevant. Vendors’ software or service updates are often released without comprehensive testing, and these can introduce significant vulnerabilities or compatibility issues. Organizations must develop adaptive response mechanisms to quickly adjust to these changes.

For instance, one organization faced unexpected compatibility issues when a vendor released a critical software update without thorough testing. In response, they established an automated testing environment to assess vendor updates before deployment, allowing for seamless integration with existing systems and minimizing operational disruptions.

This includes maintaining robust patch management processes, utilizing automated testing environments, and employing rapid deployment frameworks to ensure the continuity and security of IT operations. By adopting such strategies, organizations can better manage the risks associated with unpredictable vendor changes and maintain the integrity of their IT infrastructure.

FUTURE-PROOFING TPRM
Future-proofing TPRM strategies with advanced technologies and collaboration is essential for staying ahead of potential third-party risks. Leveraging AI and machine learning can provide predictive insights into third-party risks based on patterns and trends, enabling organizations to anticipate IT disruptions before they occur.

For example, a logistics company used AI-driven predictive analytics to identify potential disruptions from third-party providers, such as delays due to external factors. This allowed them to adjust operations proactively, minimizing risks and maintaining service continuity.

Enhancing vendor collaboration and transparency ensures that all parties are aligned on updates, vulnerabilities, and risks. Additionally, the continuous integration of feedback from IT incidents, risk assessments and cyber threat intelligence into the TPRM framework drives ongoing improvements, ensuring that TPRM strategies remain effective and aligned with the evolving IT landscape, providing organizations with actionable intelligence, facilitating informed decision-making, and fostering a proactive security posture.

EVOLVING TOGETHER — THE FUTURE OF TPRM IN IT-DRIVEN ENVIRONMENTS
As IT operations continue to evolve at a rapid pace, the need for an evolving, dynamic approach to TPRM becomes increasingly apparent. Organizations must view TPRM as an integral component of their IT strategy and resilience planning, rather than as a mere compliance requirement.

Managing third-party risk in an IT-centric world requires a forward-thinking approach that embraces advanced technologies, collaboration, and continuous improvement. By adopting dynamic TPRM strategies and viewing them as integral to IT strategy, organizations can confidently and effectively navigate the challenges of an IT-driven environment and secure their operations for the future.

This article is for general information only and is not a substitute for professional advice where the facts and circumstances warrant. The views and opinions expressed above are those of the authors and do not necessarily represent the views of SGV & Co.

 

Joseph Ian M. Canlas is a risk consulting partner and ASEAN core consulting quality leader, and Christiane Joymiel C. Say-Mendoza is a risk consulting partner, both of SGV & Co.

Escamis buzzer-beater trey seals Cardinals victory against Blazers

CLINT ESCAMIS — NCAA/GMASYNERGY

Games on Tuesday
(Filoil EcoOil Arena)
11 a.m. – LPU vs EAC
2:30 p.m. – JRU vs UPHSD

THE MAPUA University-College of St. Benilde NCAA Season 100 showdown on Sunday has all the markings of a championship duel.

It was in majestic display that Clint Escamis capped by the biggest shot of his life as he drilled in a game-winning three-pointer that sealed a 75-73 Cardinals victory against the Blazers on Sunday that forged a tie for No. 1.

Trailing by a point with less than four seconds left, Mr. Escamis stole the ball from an off-balanced Allen Liwag and then sprinted like a juggernaut to the other end and unleashed and buried the shot that was heard all over the Filoil EcoOil Arena to snatch the win.

It completed a mighty, epic comeback from 20 points down late in the second quarter that saw Mapua catching up on CSB at No. 1 with a 13-3 record each.

One more for the Cardinals against either the San Sebastian College-Recoletos Stags on Wednesday at the same San Juan venue and the Jose Rizal University Bombers on Saturday at the Cuneta Astrodome in Pasay would clinch the former a twice-to-beat edge in the Final Four.

And it was because of the electric guard named Mr. Escamis.

“Biggest shot of my career,” said an ecstatic Mr. Escamis, the reigning MVP. “I made clutch shots last season but never a game-winner, and never a game-winner with a Steph Curry range.”

That titanic shot was the icing on the cake for Mr. Escamis, who fired a game-high 26 points including 10 in the third canto when Mapua cut that 54-34 deficit — the biggest in the duel — brick by brick to go into the final canto trailing by just three, 63-60.

Somehow, CSB stubbornly clung onto the advantage most of the final period until that fateful stretch in the dying seconds when Escamis went supernova with that gem of a steal and a diamond of a shot.

When it was over, Mr. Escamis screamed ecstatically, ran all over the court and celebrated with his teammates as if they had already won the championships.

“I’m gunning for the championship right now,” he said. — Joey Villar

The scores:

Mapua 75 – Escamis 26, Mangubat 12, Concepcion 11, Cuenco 8, Hubilla 5, Recto 5, Igliane 4, Bancale 4 Fermin 0, Abdulla 0

CSB 73 – Liwag 15, Torres 10, Cometa 10, Oli 10, Ynot 9, Sanchez 7, Ancheta 5, Eusebio 3, Cajucom 3, Sangco 1, Ondoa 0, Morales 0, Turco 0

Quarter scores: 16-28; 39-54; 60-63; 75-73

PHL football team eyes Asean Championship semis

Philippine men’s football team coach Albert Capellas with the Mitsubishi Electric Cup trophy in Makati City.

WITH the shiny trophy up for grabs in the coming Asean Championship-Mitsubishi Electric Cup on display, Philippine officials expressed confidence with the men’s team’s chances in the region’s showpiece.

“I think with the team we have now and potentially with a few additional players, we have a good chance of going far in the tournament,” said Philippine Football Federation director of national teams Freddy Gonzalez during the Trophy Tour at Glorietta Activity Center.

“We can challenge any team in the region so I think it’s just all about now making sure all the players are healthy coming into the tournament and really focused on each match.”

The trophy is in Manila as part of the drum beating for the Asean tournament that will run from Dec. 8 through Jan. 5. The Pinoy booters are bunched with Vietnam, Indonesia, Myanmar and Laos in Group B with the aim of making the semifinals again after failing to get past the group play the last two editions.

“I know if we’ll reach our level, if we perform, if our commitment in every game is there, I have a very good confidence we’ll achieve nice things,” Philippine coach Albert Capellas said.

Mr. Capellas, players Patrick Deyto and Simone Rota, Azkals legends Aly Borromeo and Misagh Bahadoran, PFF President John Gutierrez and Mr. Gonzalez were the special guests in the main program of the Trophy Tour event.

Prior to the trophy display in Makati, a football clinic was held at Tuloy sa Don Bosco Alabang in the morning. — Olmin Leyba

Pagdanganan shares 11th place at LPGA Lotte Championship

BIANCA PAGDANGANAN narrowly missed a Top 10 finish in the Lotte Championship as her closing two-under 70 and 279 total was good for joint 11th in the final standings Saturday in Oahu, Hawaii.

After pumping life back in her bid with a sizzling 67 in the third round, Ms. Pagdanganan set out for a strong finish but could only muster a pair of birdies in a bogey-free round at the Hoakalei Country Club.

The two-time Olympian fell short of joining the group of 10th placers by just one shot. Still, Ms. Pagdanganan enjoyed her second-best finish of 2024, next only to her seventh place in the Mizuho Americas Open in May and earned $52,713 (around P3.08 million).

The ICTSI-backed Pinay was nine strokes adrift of Korea’s A Lim Kim, who completed a wire-to-wire triumph at 270 after a 68 in the final round.

Filipina Clariss Guce, meanwhile, carded a 77 to end in a tie for 64th at six-over 294. Guce netted $7,049  (around P412,000).

Over at the World Wide Technology Championship in Mexico, Rico Hoey shot a 69 on moving day but still dropped to 21st at 10-under 206 at El Cardonal at Diamante.

Mr. Hoey, who was among the first-round leaders, notched three birdies in the first four holes but lost steam and mixed three and three bogeys the rest of the way.

He trails the trio of American Justin Lower (63) and Carson Young (67) and Colombian Nico Echavarria (68), who hold pole position at 200, going to the last 18 holes. — Olmin Leyba

Lady Bulldogs book a finals return trip in Shakey’s Super League

PHILSTAR FILE PHOTO

Games on Nov. 16
(Rizal Memorial Coliseum)
3:30 p.m. – UE vs UP (classification 7th to 8th)
6 p.m. – Ateneo vs CSB (classification 5th to 6th)

BACK-TO-BACK champion National University (NU) ended Far Eastern University’s (FEU) unbeaten run with a masterclass, 25-16, 19-25, 25-17, 25-22, to book a finals return trip in the 2024 Shakey’s Super League Collegiate Pre-season Championship over the weekend at the Rizal Memorial Coliseum.

Reigning MVP Alyssa Solomon stamped her class with 17 points, including 11 in the clinching fourth set as the Lady Bulldogs arranged a dream match-up with UAAP rival De La Salle University after its win over University of Santo Tomas in the other semifinal pairing.

NU and La Salle met twice in the last three UAAP finals as they took turns in claiming the titles before staking the prestigious pre-season tourney crown this time around in a best-of-three series starting on Nov. 22 at the same venue.

The Lady Bulldogs will have some score to settle against the Lady Spikers, who snapped their 28-game winning streak in a stellar two-year SSL run so far back in the prelims.

Ms. Solomon had 13 hits and four blocks while UAAP MVP Bella Belen and seasoned spiker Vange Alinsug complemented her with 15 points each.

Ms. Alinsug scored 12 points but no other players finished in double digits for the Lady Tamaraws, who swept their first seven games before meeting their match in the mighty Lady Bulldogs.

Meanwhile, Geezel Tsunashima (11) and Lyann de Guzman (10) joined hands as Ateneo drubbed University of the East, 25-21, 25-17, 25-22, to set a fifth-place battle against NCAA champion College of St. Benilde, which beat UP in the other pairing, 25-19, 25-14, 25-20. — John Bryan Ulanday

Down 12 in 4th, Cavaliers rally past Nets for 11-0 start

EVAN MOBLEY collected 23 points and 16 rebounds as the Cleveland Cavaliers, who trailed by 12 entering the fourth quarter, extended their season-opening winning streak to 11 with a 105-100 victory over the visiting Brooklyn Nets on Saturday night.

Cleveland became the first team to open 11-0 since the Golden State Warriors won their first 24 in 2015-16 en route to a 73-9 finish. The Cavaliers earned their fourth single-digit victory, facing their stiffest challenge to date after blowing a 15-point lead in the first half.

Mitchell hit four 3s and scored 15 as the Cavaliers were 12-of-16 shooting from the floor (75 percent) and held a 34-28 lead through the opening quarter. Mobley’s turnaround hook shot gave Cleveland its first double-digit lead at 47-37 with 7:12 left in the half, and Garland’s transition 3 upped the lead to 52-37 less than a minute later.

Donovan Mitchell added 22 and Darius Garland contributed 20 as Cleveland outscored the Nets 35-18 in the fourth quarter and scored 26 of their 56 points in the paint in the final period. The Cavaliers shot 54.1 percent overall from the field and made 14 of 18 shots (77.8 percent) in the final 12 minutes.

Cameron Johnson paced the Nets with 23 points while Dennis Schroder and Cam Thomas added 22 apiece for Brooklyn, which took the Boston Celtics to overtime on Friday.

Brooklyn held an 82-70 lead into the fourth and a 96-89 lead with 4:23 left on a 3 by Johnson following an offensive rebound by Nic Claxton. The Cavs then outscored the Nets 16-5 the rest of the way.

The Cavaliers took their first lead since halftime on two Garland free throws with 2:31 left, and answered two free throws by Schroder with a tough runner by Garland in the lane with 84 seconds left.

After Thomas sank an 11-footer with 65 seconds left, Ty Jerome hit a short jumper with 46.2 seconds left and Schroder missed a contested 3 with 29.8 seconds left. Mitchell hit two free throws to seal the win.

Cleveland took a 52-37 lead on Garland’s 3-pointer with 6:30 remaining but the Nets ended the first half with a 17-5 run to get within 57-55. Brooklyn scored the first 12 points of the third and outscored the Cavaliers 27-13 in the quarter before wilting down the stretch. — Reuters

Atlanta shocks favorites Miami to reach MLS semis

LIONEL MESSI’S first trip to the Major League Soccer (MLS) postseason ended abruptly on Saturday, as midfielder Bartosz Slisz headed in the game-winner for Atlanta United in a staggering, 3-2 upset over Inter Miami in Round One.

Forward Jamal Thiare got Atlanta on the board in the 19th minute and struck again two minutes later, before Slisz put them over the top in the 76th minute to set up a meeting in the semifinal stage against Orlando City SC.

Miami were overwhelming favorites to win it all after producing a league record 74 points in the regular season but could not keep the momentum after Matias Rojas’ close-range goal in the 17th minute and Messi’s score in the 65th minute.

“There’s some fairy dust in our locker room,” said Atlanta goalkeeper Brad Guzan, who held his ground against Miami’s unrelenting offense. “On to the next one.”

A sea of pink-clad Miami fans held their breath as Thiare hit the woodwork in the 15th minute and Atlanta applied the pressure out of the gate.

Guzan made a diving leap to stop Messi’s powerful shot from the center of the box in the 17th minute but could not recover in time to stop Rojas’ follow-up from close range, as Miami drew first blood.

Gauff wins first WTA Finals trophy

RIYADH — American Coco Gauff had a bitterly disappointing summer but on Saturday the youngster was able to celebrate lifting her first WTA Finals trophy, regaining her confidence after a string of frustrating defeats to end her year on a high note.

The 20-year-old showed her mettle against China’s Olympic champion Zheng Qinwen in the Riyadh finale, coming back from a set down and holding her nerve through a gritty three-hour and four-minute affair to win 3-6 6-4 7-6(2).

The first WTA Finals title for Gauff was made sweeter after a mid-year derailment when attempts to rebuild her serve led to repeated frustrations on the tour and a coaching shake-up.

“It’s been a long season,” Gauff said with the gleaming silver trophy in her hand in Riyadh, thanking her family and team for sticking with her through the ups and the downs.

Gauff’s year had started on the right track as she won in Auckland and reached the semifinals at the Australian Open. But the season began to crumble with a fourth-round defeat at Wimbledon and third-round exit at the Paris Games.

She was unable to reset for her US Open title defense after shock early exits in Toronto and Cincinnati and left New York after a dreadful fourth-round defeat by Emma Navarro, when she was plagued by 19 double faults.

Gauff split from coach Brad Gilbert and flipped the script weeks later, however, winning her second WTA 1000 title last month at the China Open before reaching the Wuhan Open semis.

It was clear she had got back to top form in Riyadh as she beat her key antagonist, Poland’s world number two Iga Swiatek, in the group stage and battled past the top-ranked Aryna Sabalenka of Belarus to reach the championship match.

“I know (I) tend to focus on ‘doubters/haters’ but this one is really for all of my supporters! Ya’ll held it down for me win or lose!” Gauff wrote in a post on X after clinching the title.

“I know some of you are a little bit petty like me so it does feel nice to silence them for a bit.”

The youngest player to win the season-ending WTA Finals since Maria Sharapova two decades ago, Gauff leaves the first professional women’s tennis tournament in Saudi Arabia more than $4.8 million richer and with a WTA title at every level.

“Safe to say I beat the bad season allegations,” wrote Gauff. — Reuters

Angry Giannis

Giannis Antetokounmpo once again vented his frustrations in the aftermath of the Bucks’ loss to the Knicks the other day. He had reason to be angry, to be sure; after having come off what seemed to be a statement victory against the admittedly overmatched Jazz, the green and cream started — and stayed — flat at the Garden for yet another disappointing outcome. The 22-point setback in which they failed to claim a single quarter put them at an atrocious 2-7 for the season, second-worst thus far in the so-called Leastern Conference.

To argue that Antetokounmpo has had far better post-match pressers than that which followed the Bucks’ poor showing would be to understate the obvious. He was most definitely in a foul mood; in fact, he even called out a scribe who caught his attention while he was in the midst of replying to a query. “Did we compete today? No,” he contended. “If you don’t compete your ass off, you’re not going to win the game.” And the numbers underscore his point: the Knicks had seven more rebounds, six more steals, and five less turnovers en route to the blowout.

It bears noting that Bucks head coach Doc Rivers hasn’t looked fazed by the turn of events. Their travails notwithstanding, he has all but guaranteed that they would make the playoffs. That said, there can be no discounting the tumult that has visited — and threatened to remain in — the locker room. And when Antetokounmpo is disgruntled, it pays to consider changes to the status quo if for nothing else than to appease him. Which is why the front office has begun making calls around the National Basketball Association to gauge interest in trade deals that can improve the roster for immediate impact.

Exploration is all well and good under any circumstance, and especially in times of duress; after all, no limits can be imposed on excellence. Unfortunately, the Bucks are skirting the second apron, and thus cannot green-light any accord in contravention of salary cap rules. Given the extremely limited options, they are faced with little choice but to make the best of what they have. Needless to say, everything depends on a happy Antetokounmpo. And for as long as he’s not, they have no chance of success.

 

Anthony L. Cuaycong has been writing Courtside since BusinessWorld introduced a Sports section in 1994. He is a consultant on strategic planning, operations and human resources management, corporate communications, and business development.

Thai ex-central bank governors warn of interference in selection

THE LOGO of Thailand’s central bank is seen at the Bank of Thailand in Bangkok, Thailand, April 26, 2016. — REUTERS FILE PHOTO

BANGKOK — More than 800 leading Thai economists, including four former governors of the Bank of Thailand (BoT), warned on Saturday of political interference in selecting the central bank’s board chairman, saying it could damage long-term economic stability.

The government’s nomination of former Finance Minister Kittirat na Ranong, a ruling party loyalist and staunch critic of BoT Governor Sethaput Suthiwartnarueput, has sparked concerns over the central bank’s independence.

Since taking office last year, the Pheu Thai-led government, now under Prime Minister Paetongtarn Shinawatra, has been at loggerheads with the BoT, pressuring the central bank to cut interest rates in the Southeast Asian nation and raise its inflation target.

The BoT unexpectedly cut rates last month for the first time since 2020.

Should the BoT “carry out the wishes of the political group, then it would tarnish the credibility of the central bank, which must maintain a strong economic stability for the country in the long term,” the 830 economists said in a statement.

The group has previously expressed concern over having a candidate with close political connections who they say has shown an intention to interfere in BoT monetary policy decisions.

Government spokesman Jirayu Houngsub declined to comment on the statement. Kittirat did not immediately respond to a request for comment.

The independent committee selecting the board chairman meets on Monday after delaying its decision this week, saying it needed more time to “consider all aspects of information” amid the tension between the central bank and the government.

The board chairman is not involved in rate decisions but heads the panel that chooses policy committee members. The chair will also be involved in selecting the next BoT governor when Mr. Sethaput’s term ends in September 2025.

There are two other candidates for the role — a former permanent secretary of energy and a former university dean — who were nominated by BoT. Thai law allows the government to nominate one candidate for every two central bank nominees.

Once the seven-member selection committee picks a chairman, its decision requires the approval of the finance minister, the cabinet and Thailand’s king. — Reuters

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