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Infra, governance seen as more critical to FDI than charter reform

PHILIPPINE STAR/EDD GUMBAN

ENHANCEMENTS to infrastructure and governance are key to attracting foreign investors, not just opening up the economic provisions of the 1987 Constitution, analysts said.

“Attracting FDI (foreign direct investment) is not just about economic provisions (of the Constitution), it’s also about maintaining a good socio-economic-political environment conducive to the conduct of business,” John Paolo R. Rivera, president and chief economist at Oikonomia Advisory & Research, Inc., told BusinessWorld in a Viber message.

Legislators have pitched the Charter reform campaign as a means to open up industries to foreign capital and encourage more FDIs.

The Philippines has one of the most restrictive economies in Southeast Asia as the Constitution limits foreign participation to a 40% equity stake in most domestic companies. The Philippines ranked third most restrictive out of 83 economies — scoring 0.374 on a scale of 0 (open) to 1 (closed) — according to a 2020 FDI analysis by the Organization for Economic Co-operation and Development.

“The RBH (Resolution of Both Houses) No. 7 is necessary but not sufficient,” Foundation for Economic Freedom President Calixto V. Chikiamco told BusinessWorld via Viber, referring to how the proposal could open the economy to foreign investment.

He added: “RBH No. 7 just inserts the phrase ‘unless otherwise provided by law’ (into the Constitution), meaning Congress has to pass a specific law first in order to open up education, advertising, and public utilities to 100% foreign investment.”

While ease of doing business policies and a well-managed economy are important factors for foreign investors, Mr. Rivera said that “good housekeeping and good governance” are also key considerations for foreign investors. 

He added that the Philippines should also have “excellent infrastructure” to further attract foreign investment. 

“Key infrastructures are those involving our connections to the world: airports, ports, shipping, warehouses, and broadband connectivity,” Mr. Chikiamco said.

Terry L. Ridon, a public investment analyst and convenor of think-tank InfraWatch PH, said the “administration’s flagship infrastructure program is off to a good start” with the expected rehabilitation of Ninoy Aquino International Airport by the San Miguel Corp.-led consortium.

“(The) government is also well on its way to process other PPPs (public-private partnerships),” Mr. Ridon told BusinessWorld via Viber. He said the proposal by Aboitiz InfraCapital, Inc. to develop regional airports and other pending projects for the“EDSA busway project and the MRT-3 redevelopment would help improve infrastructure overall.

He added that increasing FDI inflows also depends on “sector-specific equity restrictions, the governance climate, and sustainability commitments, among others.”

“There is no single leading factor that ensures FDI inflows, but the government should work towards improving outcomes in these various areas,” Mr. Ridon added.

The Philippines is on the right track to improve FDI, Mr. Chikiamco said, referring to the efforts of the government to reform its policies and upgrade infrastructures.

“(The) government is active in improving the investment climate but it will take time before the benefits are reaped,” Mr. Rivera said. — Kenneth Christiane L. Basilio

Multipolarity and de-risking: Navigating geopolitical uncertainties

Second of two parts

IN BRIEF: 

• Major shifts in the global market along with rising geopolitical tensions may propel organizations to adapt and rethink their strategies.

• According to the EY 2024 Geostrategic Outlook, organizations will need to consider two critical concepts as they plan for geopolitical disruptions: multipolarity and de-risking.

• The prevalent trend of de-risking indicates a shift in policy focus towards national security over pure economic considerations.

Faced with the prospect of an increasingly uncertain future, the world faces an era of unprecedented change. Rising geopolitical tensions and major shifts in the global market may propel organizations to adapt and rethink their strategies, with two critical concepts coming to the fore: multipolarity and de-risking.

The EY Geostrategic Outlook is an annual report by the EY Geostrategic Business Group (GBG) that selects the top geopolitical developments for the year by analyzing the global political risk environment. The GBG first conducts a crowdsourced horizon scanning exercise with subject matter resources to identify potential risks, then conducts an impact assessment to narrow down the top geopolitical developments that are both highly impactful and highly probable for companies worldwide.

In the first part of this article, we discussed the evolving multipolarity in geopolitics, specifically tackling the developments surrounding the geopolitical multiverse, AI, the oceans, and competition for essential commodities. These underscore the need for economic diversification and resilient supply chains due to increased geopolitical disruptions. However, they also aggravate global policy coordination challenges, escalating potential transnational uncertainties.

The second theme is de-risking, with governments increasingly combining economic policy with national security to stimulate domestic production of critical products in sectors such as semiconductors, telecommunications, renewable energy, electric vehicles, and biotechnology. This trend, more prevalent in 2024, indicates a shift in policy focus towards national security over pure economic considerations, possibly fueling inflation and hindering global innovation due to increased government intervention in supply chains and investments.

GLOBAL ELECTIONS SUPERCYCLE
With a wave of elections happening in geopolitically significant markets representing more than half of the global population and the global GDP, this global elections supercycle will generate policy and regulatory uncertainty. This in turn has long-term implications for industrial strategies, ongoing military conflicts, and climate policies.

The outcome of Taiwan’s presidential election, which concluded on Jan. 13, may affect political and economic relations with China as well as broader geopolitical dynamics. Later this year, campaign dynamics from the US elections could increase volatility for businesses, while election outcomes can result in far-reaching shifts on domestic and foreign policy issues on global alliances, regulations, and climate change.

ECONOMIC SECURITY
Recent global developments have increased geopolitical rivalries and heightened the neo-statism (a new cross-party consensus about needing a more interventionist state) trend, leading to a greater focus on economic self-sufficiency and increased intervention in supply chains. In 2024, de-risking global interdependencies is expected to be a critical tool in geostrategic competition, with policies targeting reduced reliance on geopolitical competitors, promoting domestic industry competitiveness, and enhancing sociopolitical stability.

The White House readout on the meeting between President Marcos and VP Harris on the sidelines of the November APEC meetings in San Francisco states that VP Harris announced a “new partnership with the Government of the Philippines to grow and diversify the global semiconductor ecosystem under the International Technology Security and Innovation (ITSI) Fund, created by the CHIPS Act of 2022. This partnership will help create a more resilient, secure, and sustainable global semiconductor value chain.”

Particularly impacted will be sectors like aerospace, defense, and advanced digital technologies, where stringent economic security policies will be enforced. Traditional strategic sectors, like energy and critical infrastructure, will see regulations and incentives used to protect or promote domestic production. Emerging strategic sectors, such as healthcare and agriculture, will come into greater focus with regulations aimed at increasing resilience to supply chain disruptions.  

VALUE CHAIN DIVERSIFICATION
According to the July 2023 EY CEO Outlook Pulse survey, 99% of CEOs plan strategic changes in response to geopolitical challenges such as government tensions and policies encouraging value chain diversification. This creates political risks for companies entering or expanding in alternative markets in 2024. Despite ongoing investment in developed markets, geopolitical swing states are expected to be key to diversification efforts. Country-level political risk, infrastructure quality, labor dynamics, global interest rates, and government incentives will influence these decisions.

Sustainability considerations, including carbon taxes and emissions reporting requirements, will further shape the diversification agenda. The 2024 election supercycle intensifies policy uncertainty in several markets affecting labor laws, infrastructure investments, and industry policies, adding another layer of complexity to diversification and investment decisions.

SUSTAINABILITY
Currently, some countries are prioritizing economic growth and energy security over emissions reductions, leading to inconsistent sustainability regulations. Some governments are boosting their domestic green economy while potentially slowing the implementation of sustainability regulations to meet short-term economic goals.

Green policies could face opposition if they are viewed as protectionist or discriminatory. For example, the EU’s Carbon Border Adjustment Mechanism (CBAM), a tariff on carbon-intensive products, may trigger global trade tensions as impacted countries may retaliate with their own tariffs on European goods. However, it can also act as a key driver for developments in international carbon pricing policy, as several countries are now seen either exploring or creating their own CBAM or are revisiting their current carbon taxation levels.

For the Philippines, understanding how CBAM may impact direct exporters to EU of scoped-in industries, including looking at those industries where the raw materials of scoped-in industries are coming from the country, should be prioritized.  This is aside from the legislative action exploring the implementation of an emissions trading scheme or the imposition of a carbon tax on the industries that contribute most to our emissions.      

Consequently, geopolitical tensions could grow between countries advocating for ambitious climate action and those perceived as impeding this progression. Despite these tensions, geopolitical competition could increase green investments in emerging markets, with major players like China, the US, and the EU targeting geopolitical swing states.

CLIMATE ADAPTATION
While the United Nations Framework Convention on Climate Change (UNFCCC) initially focused on reducing greenhouse emissions, in 2024, about 80% of its parties have established a national adaptation plan, policy, or strategy due to increasing global temperatures.

For instance, the National Framework Strategy on Climate Change highlights that the Philippines’ approach on climate change identifies climate change adaptation as its anchor strategy, with climate change mitigation as a function of adaptation. This is mainly a result of the country’s less than 1% contribution to global emissions and the various studies highlighting the vulnerability of the Philippines to the impacts of climate change, with the February 2024 Swiss Re publication, “Changing Climates: The Heat is (Still) On,” indicating that the country suffers the most significant economic losses as a percentage of GDP mainly resulting from flooding and tropical cyclones.

It is because of the heightening risk and accelerating climate change impacts experienced globally that the urgency for more actions relating to adaptation have increased. Combined with the more modest growth in adaptation finance flows, the global adaptation funding gap is widening, with developing countries needing about $212 billion per year up to 2030 and around $239 billion per year from 2030 to 2050, based on the 2023 Global Landscape of Climate Finance, issued by the Climate Policy Initiative.

Geopolitics and adaptation funding for developing nations have previously been at the forefront of climate negotiations. This will only continue, as central to the politics of adaptation funding is the fact that countries such as the Philippines have contributed almost nothing to making climate change happen, and yet are the ones experiencing the first and worst impacts as a result.

C-LEVEL CONSIDERATIONS TO NAVIGATE GEOPOLITICAL UNCERTAINTIES
The evolving geopolitical landscape calls for a thorough recalibration of business strategies for organizations to navigate through uncertainties effectively. By embracing multipolarity and de-risking strategies, organizations can foster resilience and agility amid heightened geopolitical competition.

While juggling these challenges, sustainability remains critical. Conflicting interests may lead to inconsistent regulations in the short term, but moving toward a greener economy remains paramount. Therefore, organizations must prioritize green investments and climate adaptation measures in their strategic planning.

Navigating the geopolitical uncertainties of 2024 and beyond requires proactively anticipating the shifts in economic policies, regulations, and global relations. The exact path may still be uncharted, but understanding and responding to these developments will help boards remain competitive in the global market and future-proof their organizations.

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.

 

Marie Stephanie C. Tan-Hamed is a Strategy and Transactions partner and the PH Government and Public Sector leader of SGV & Co., and Katrina F. Francisco is a partner from the Climate Change and Sustainability Services of SGV & Co.

US rebukes China for ‘dangerous and destabilizing conduct’ after sea ruckus

THE BRP SIERRA MADRE, a marooned transport ship which Philippine Marines live in as a military outpost, is pictured in the disputed Second Thomas Shoal, part of the Spratly Islands in the South China Sea. — REUTERS

THE UNITED STATES at the weekend condemned China’s “dangerous actions” after its coast guard again fired water cannons at a wooden boat used by the Philippines in a resupply mission for Filipino troops at a remote outpost in the South China Sea.

“The United States stands with its ally the Philippines and condemns the dangerous actions by the People’s Republic of China (PRC) against lawful Philippine maritime operations in the South China Sea on March 23,” US Department of State spokesman Matthew Miller said in a state posted on its website.

“The People’s Republic of China’s actions are destabilizing to the region and show clear disregard for international law,” he added.

Tensions between the Philippines and China have worsened in the past year as the Chinese Coast Guard continues to block Philippine boats trying to deliver food and other supplies to BRP Sierra Madre, a World War II- era ship that Manila grounded at Second Thomas Shoal in 1999 to assert its sovereignty.

Second Thomas Shoal is about 200 kilometers from the Philippine island of Palawan and more than 1,000 kilometers from China’s nearest major landmass, Hainan Island.

Japan through its embassy in Manila “reiterates its grave concern on the repeated dangerous actions by China Coast Guard vessels in the South China Sea which resulted in Filipino injuries.”

The envoys of Canada, Australia, Germany and the European Union also expressed concern over the Chinese ships’ actions that they said were “dangerous.”

China’s Coast Guard accused the Philippines of transporting construction materials to the “illegally grounded” warship.

“It is a deliberate and provocative move that infringes upon China’s sovereignty and legitimate rights and interests and undermines peace and stability in the South China Sea,” Gan Yu, spokesperson for the Chinese Coast Guard, said in a statement.

“We warn the Philippines that playing with fire is an invitation of disgrace, and the China Coast Guard is ready at all times to defend the country’s territorial sovereignty and maritime rights and interests.”

Saturday’s incident comes days after US Secretary of State Antony Blinken said during his visit to Manila that the US stands by its “ironclad” commitments to defend the Philippines against an armed attack in the South China Sea.

“These waterways are critical to the Philippines, to its security, to its economy, but they’re also critical to the interests of the region, the United States and the world,” he said at a joint press conference in Manila with his Philippine counterpart.

In a statement at the weekend, a Philippine task force handling South China Sea disputes said the water cannon had injured Filipinos on board the Unaizah May 4 civilian supply boat.

It added the actions of the Chinese Coast Guard “belie (China’s) hollow claims to peace, dialogue and adherence to international law.”

The same Philippine boat had been damaged by a Chinese water cannon during a similar mission early this month. Four coast guard officers were injured in the March 5 incident, the council said.

Before Saturday’s water cannon incident, the Chinese Coast Guard vessel BN21551 had used “dangerous maneuvers” including crossing the bow of the Philippine boat and a “reverse blocking maneuver… causing a near collision.”

To complete the Philippine resupply mission, BRP Sierra Madre deployed rigid inflatable boats to Unaizah Mae 4 “to ferry personnel to be rotated in,” the task force said.

The Chinese coast guard then placed a floating barrier at the northwestern entrance of the lagoon of Second Thomas Shoal to block the mission, it added.

DIPLOMATIC COST
Mr. Miller said the US “reaffirms that Article IV of the 1951 US-Philippine Mutual Defense Treaty extends to armed attacks on Philippine armed forces, public vessels or aircraft — including those of its Coast Guard — anywhere in the South China Sea.”

China continues to block Philippine vessels’ exercise of high seas freedom of navigation, he added.

He cited the 2016 ruling by a United Nations (UN)-backed tribunal based in the Hague in 2016 voiding China’s claim to almost the entire South China Sea.

“According to [the] international tribunal’s legally binding decision issued in July 2016, the PRC has no lawful maritime claims to the waters around Second Thomas Shoal, and that Second Thomas Shoal is a low tide feature clearly within the Philippines’ exclusive economic zone,” Mr. Miller said.

The 2016 arbitral decision is final and legally binding on China and the Philippines, he added, citing the UN Convention on the Law of the Sea. “The United States calls upon the PRC to abide by the ruling and desist from its dangerous and destabilizing conduct,” he said.

The Philippines should step up efforts with allies to keep China’s territorial advances in the South China Sea at bay, political analysts said, as Beijing warned Manila that it would not hesitate to adopt stronger measures.

“Maritime security and [diplomatic] cost imposition for the People’s Republic of China’ aggression should be top issues for the trilateral US-Japan-Philippines leaders’ summit in Washington DC,” Raymond M. Powell, a fellow at Stanford University’s Gordian Knot Center for National Security Innovation, said in an X message. “President Marcos should be appreciative of the support he’s received so far but should not be timid about approaching his counterparts with additional requests,” he added.

The three nations could champion a UN Security Council resolution condemning the Chinese Coast Guard’s actions, he said. “The resolution would be vetoed of course by China and Russia, but it would force the other countries on the Security Council to take a stand.”

Mr. Powell said Beijing seeks to paint the Philippines into a corner by suggesting it is just a pawn in the United States’ great power competition with China.

“This papers over Manila’s very real security concerns and pretends they are just America’s convenient excuse to enlist the Philippines to its side,” he said. “The fact is that if America left the western Pacific altogether, the Philippines would face the same problems, but now without a powerful treaty ally.”

“If the Philippines insists on going its own way, China will continue to adopt resolute measures to safeguard its territorial sovereignty and maritime rights and interests,” the Chinese Foreign Ministry said late Saturday. “The Philippines should be prepared to bear all potential consequences.” — Norman P. Aquino, Kyle Aristophere T. Atienza and John Victor D. Ordoñez

China envoy urged to avoid ‘veiled threats’

MAOXIAOLING liquor-filled chocolate, made by China’s luxury liquor brand Kweichow Moutai in collaboration with Mars, Inc.-owned Dove, is officially launched in Shanghai, China on Sept. 16, 2023. — REUTERS

CHINA’s top envoy to the Philippines should avoid “veiled threats” against Manila and its allies to avoid further straining their relations amid rising tensions in the South China Sea, political analysts said at the weekend.

This comes after Chinese Ambassador to the Philippines Huang Xilian’s remarks at a business forum on Philippine-China relations last week that nations that “talk down on” and misjudge China would miss out on opportunities as it sets an economic expansion target of about 5% this year.

“Mr. Huang should stop making veiled threats to the government and its partners during his tour of duty in the Philippines,” Terry L. Ridon, a public investment analyst and convenor of think tank InfraWatch PH, said in a Facebook Messenger chat.

“The Philippines is in no position to talk down on Beijing because China is a superpower and its Coast Guard and maritime militia have been regularly harassing our fishing vessels within our own exclusive economic zone,” he added.

The Chinese Embassy in Manila did not immediately reply to a Viber message seeking comment.

The envoy’s remarks came just days after US Secretary of State Antony Blinken visited Manila to reaffirm America’s “ironclad” commitments to defend the Philippines against an armed attack in the South China Sea.

Chinese Premier Li Qiang first announced the growth target early this month to boost confidence in China’s economy as it deals with deflationary pressures, a struggling property sector, an exodus of foreign capital, a stock market rout and a record-low birth rate.

In his speech last week, Mr. Huang said China’s growth target is expected to “far exceed” the International Monetary Fund’s growth forecast for the US and European Union. Its economy will have become twice the size that of the Philippines by yearend.

The Chinese economy has been showing positive signals since the start of the year, including a 7.7% increase in domestic tourist spending during the Chinese New Year to 632.6 billion yuan (P4.9 trillion) from 2019, he added.

China’s total trade in goods in the first two months of this year grew by 8.7% from a year earlier to 6.61 trillion yuan.

China should look into its own issues in urban planning and its struggling property sector before it brags about economic growth, Hansley A. Juliano, a political science professor at the Ateneo de Manila University, said in a Facebook Messenger chat.

“There seems to be this overwhelming belief in Beijing that offense is the best defense,” he said. “I also get the impression Mr. Huang’s job in Chinese foreign policy is to be the torpedo and bulldoze everyone, which gives Beijing plausible deniability should there be a policy change.”

The ambassador said China has been the Philippines’ biggest trading partner for eight straight years, and one of its biggest sources of foreign investments.

“The Chinese and the Philippine economy are both part of the global value, industrial and supply chains,” Mr. Huang said. “We have formed a deeply intertwined pattern of interests.” — John Victor D. Ordoñez

Marcos condemns Moscow attack

CROCUS CITY HALL in Krasnogorsk, Moscow, the scene of the Friday night attack. — COMMONS.WIKIMEDIA.ORG

PHILIPPINE President Ferdinand R. Marcos, Jr. has condemned a shooting rampage in Russia that killed at least 115 people before the performance of a Soviet-era musical band inside a concert hall.

“I am profoundly saddened by the innocent lives lost in the horrific ISIS attack at the concert hall in Moscow,” Mr. Marcos said in a social media post. “My deepest condolences to the families affected by this senseless act of terrorism.” “We stand united in condemning terrorism in all its forms.”

The Islamic State (IS) claimed responsibility for the deadliest terror attack in Russia’s history, but Russian President Vladimir Putin has been linking the terror attack to the war in Ukraine.

The Afghan arm of IS, also known as the Islamic State in Khorasan Province, said via the Telegram channel of an affiliate media outlet that it was behind the attack, a claim that the US has backed.

“ISIS bears sole responsibility for this attack,” US National Security spokesperson Adrienne Watson said in a statement. “There was no Ukrainian involvement whatsoever.”

She said Washington had “shared information with Russia about a planned terrorist attack in Moscow.”

Ukraine, which has been locked in a war with Russia since 2022, has denied involvement in the terror attack, saying it has never “resorted to the use of terrorist methods.”

In an X post, Ukrainian presidential adviser Mykhailo Podolyak said Moscow might use the attack to justify its war against Kyiv and step up operations as part of its “military propaganda.”

In an X post on March 8, the US Bureau of Consular Affairs advised US citizens in Russia to avoid large gatherings, saying Washington’s embassy in Moscow was monitoring reports that “extremists have imminent plans to target large gatherings in Moscow, to include concerts.”

The United Nations Security Council called the attack “heinous and cowardly.”

“We condemn terrorism in all its forms and stand in solidarity with the people of Russia in grieving the loss of life from this horrific event,” the US State Department said.

China, France, India and Italy also condemned the attack.

The Philippine Foreign Affairs department earlier said no Filipinos were harmed in the gun attack. — Kyle Aristophere T. Atienza

Prepare for Holy Week, oil firms told

JCOMP-FREEPIK

THE DEPARTMENT of Energy (DoE) on Sunday urged oil companies to prepare for Holy Week by mobilizing assistance along national highways, major roads, tollways and areas leading to pilgrimage sites.

“Let us assist them in safely navigating their way during these busy travel periods by implementing initiatives that will enhance their overall travel experience and promote road safety campaigns,” Energy Secretary Raphael P.M. Lotilla said in a statement.

Petron Corp. said it would provide emergency roadside assistance such as free minor car repairs, first aid and emergency phone calls at service stations along major toll ways and highways.

Motorists should brace for higher pump prices during Holy Week, with the DoE projecting a P1.90-P2.10 a liter increase for gasoline, P1.35-P1.50 for diesel and P1.40-P1.50 for kerosene. — Sheldeen Joy Talavera

DILG says 28,000 villages drug-free

THE DEPARTMENT of Interior and Local Government (DILG) has declared 28,000 villages free of illegal drugs after a year of its intensified campaign.

The agency arrested 95,790 drug users and seized P21 billion worth of illegal narcotics in 75,831 operations, Interior and Local Government Secretary Benjamin C. Abalos, Jr. said in a statement at the weekend.

He added that 177 police personnel were nabbed for drug-related crimes.

A community-based drug rehabilitation program in 1,534 local government units catered to more than 20,000 enrollees, he said. Seventy-four inpatient rehabilitation facilities served more than 31,000 drug users.

The DILG is working with the Labor department to provide work for people who have been rehabilitated, he added. — Chloe Mari A. Hufana

SC acquits ex-Gamu mayor of graft

PHILSTAR FILE PHOTO

THE PHILIPPINE Supreme Court (SC) has cleared former Gamu, Isabela Mayor Fernando O. Gumicad of graft over the local government’s purchase of fuel products from his wife’s gasoline station.

In a 39-page resolution made public recently, the High Court said prosecutors had failed to prove that the state was disadvantaged by the purchase of petroleum products from FOC Petron, owned and operated by the ex-mayor’s wife Marilou.

It noted that Gamu only had two gasoline stations and FOC Petron was the only available major oil player in town.

“The prosecution failed to establish that the direct purchase of petroleum products from FOC Petron was deliberately and fraudulently orchestrated to deceive the government and obtain an undue personal gain or benefit,” according to the resolution written by Senior Associate Justice Marvic M.V.F Leonen.

The tribunal reversed the Sandiganbayan’s conviction of Mr. Gumicad in 2019 for 36 counts of graft for giving “unwarranted benefit, advantage or preference to FOC Petron.” — Chloe Mari A. Hufana

Zambo-Cotabato bus route starts

COTABATO CITY — Rural Transit Mindanao, Inc. (RTMI) on Friday launched its direct bus route between the cities of Zamboanga and Cotabato, which local officials said would boost trade and commerce in the Bangsamoro region.

“It is good for the business climate of the Bangsamoro region,” said Ronald Hallid Dimacisil Torres, president of the Bangsamoro Business Council. “It will have a big impact on our efforts to boost commerce and trade in the autonomous region via durable linkages between us in mainland Mindanao and our counterparts in the Zamboanga peninsula, in Basilan, Sulu and Tawi-Tawi.”

Zamboanga City is the entry and exit point for residents of the three island provinces who come to Cotabato City to transact with regional offices of the Bangsamoro Autonomous Region in Muslim Mindanao.

Travel time from Zamboanga City to Cotabato City is 13 to 15 hours. The air-conditioned bus fare is P1,100 per passenger, according to an announcement by MRTI over radio stations here on Saturday.

MRTI buses from Zamboanga City to Cotabato City and vice versa will have a brief stopover in Pagadian City, capital of Zamboanga del Sur, where passengers can buy food and drinks that they can bring aboard. — John Felix Miciano Unson

Hotel found violating FIA

THE PHILIPPINE Supreme Court (SC) has upheld an appellate court decision that found a hotel company violating the Foreign Investments Act (FIA) after it failed to report to the corporate regulator a change in the nationality of its majority owner.

“The FIA relevantly provides that a non-Philippine corporation must register with the SEC before it does business in the country or invest in a domestic corporation,” the high court’s Second Division said in an 11-page resolution against New Coast Hotel, Inc.

It said the hotel’s allegation of delay on the part of the Securities and Exchange Commission (SEC) in detecting and acting on its offense was unsubstantiated.

“In sum, no error was committed by the Court of Appeals when it held that neither prescription nor laches bar the SEC from penalizing New Coast for its violation of the FIA as the same is in accord with law and jurisprudence,” it added. — Chloe Mari A. Hufana

Canino clinches berth for FIDE World Chess Olympiad in Hungary

RUELLE CANINO — FACEBOOK.COM/NCFPCHESS

DREAMS do come true.

Prodigious Ruelle Canino realized hers on Sunday after claiming one of the three berths to the national team seeing action in the FIDE World Chess Olympiad in Budapest, Hungary this September.

It was sealed by a slambang 83-move draw with Woman FIDE Master Cherry Ann Mejia of a Sicilian in the 10th and penultimate round of the Philippine National Women’s Chess Championship at the Malolos City Hall in Bulacan.

And it could have been a victory after ramming her way into Ms. Mejia’s brittle queenside pawn formation that allowed the wunderkind from Cagayan de Oro to squeeze through a passed pawn.

But Ms. Canino couldn’t translate it to a win as Ms. Mejia masterfully defended and forced the draw via perpetual check.

With a round to go, Ms. Canino has 7.5 points trailing Woman International Master (WIM) Jan Jodilyn Fronda by half a point following the latter’s 62-move triumph of yet another Sicilian over Mhage Sebastian.

That not only plucked Ms. Fronda the solo grip of No. 1, she also claimed an Olympiad spot for herself and man the top board with the possibility of perennial board one player Woman Grandmaster (WGM) Janelle Mae Frayna seeing action in the men’s.

Interestingly, Mmess. Fronda and Canino were clashing in the last round at press time with the winner seizing the one slot to the Asian Indoor and Martial Arts Games in Bangkok, Thailand this November, the top purse worth P85,000 courtesy of host Malolos City Mayor Christian Natividad and the distinction as the best female player in the country.

Ms. Frayna, meanwhile, saw her four-win streak coming to an end after she shockingly fell to underdog April Joy Ramos of Marikina City.

Mercifully, Ms. Frayna remained at No. 3 but she now shared it with WIM Kylen Joy Mordido, who could be the country’s next WGM with two of the three norms required in earning the title already in her hands.

Still with a legitimate chance at that third and last Olympiad seat were WFMs Allaney Jia Doroy and Shanian Mae Mendoza, who both have 5.5 points in this event organized by the NCFP and backed by the Philippine Sports Commission and POC. — Joey Villar

Arana, Team Greats upstage Team Stalwarts, 142-133 in Bacolod

JUSTIN ARANA (15) — PBA.PH

BACOLOD CITY — Newly-minted PBA All Stars Blitz Game Most Valuable Player Justin Arana looks to build on his stellar performance here as he shifts focus to Converge’s fight for survival in the Philippine Cup.

Mr. Arana muscled his way to 36 points and eight rebounds in leading Team Greats over Team Stalwarts, 142-133, Saturday night, emerging as the brightest among the rookies, sophomores and juniors. This augurs well for his confidence going into the difficult grind for the FiberXers, who are winless in five outings despite Mr. Arana’s splendid 19.6-point, 6.4-rebound average.

Mr. Arana and the FiberXers hit the court again on April 3 versus Rain or Shine, needing a bunch of wins, if not a sweep, to salvage a seat to the playoffs.

Mr. Arana delivered a roaring outing in the RSJ match that not only strengthened his self-esteem but also made a strong case for his possible inclusion in the main All Star Game in the near future.

The 6-foot-7 center banged in 24 in the first half to power Greats to a 78-73 cushion. After adding two in the third, he dropped 10 in the final canto to help tow the Greats to the finish line.

Mr. Arana’s 36 was the most points in a Greats-Stalwarts game since Encho Serrano fired 40 in Team Stalwarts 138-158 loss to Greats last year in Passi, Iloilo.

TNT’s Brandon Ganuelas-Rosser and Magnolia’s Jerrick Ahnamisi rifled in 23 and 21 respectively, to back up Mr. Arana, who dismissed getting sole credit for the triumph. — Olmin Leyba

The Scores:

Team Greats 142 — Arana 36, Ganuelas-Rosser 23, Ahanmisi 21, Stockton 9, Tuffin 8, Ildefonso 8, Laput 8, Caracut 8, Ilagan 8, Mamuyac 6, Cu 5, Gomez de Liano 2.

Team Stalwarts 133 — Aurin 23, Calma 22, Munzon 16, David 15, Yu 12, Santillan 12, Asistio 8, Zaldivar 7, Holt 7, Nocum 6, Amores 5.

Quarterscores: 39-45, 78-73, 109-106, 142-133.

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