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Peso climbs as inflation hits over three-year low

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THE PESO gained against the dollar on Tuesday after headline inflation eased to an over three-year low in January.

The local unit closed at P56.20 per dollar on Tuesday, rising by nine centavos from its P56.29 finish on Monday, Bankers Association of the Philippines data showed.

The peso opened Tuesday’s session lower at P56.37 against the dollar. Its intraday best was at P56.14, while its weakest showing was at P56.39 versus the greenback.

Dollars traded went up to $1.26 billion on Tuesday from $1.08 billion on Monday.

The peso strengthened on Tuesday as inflation continued to ease last month, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

“The peso strengthened amid local optimism following the softer inflation report for January 2024,” a trader said in an e-mail.

Headline inflation cooled to 2.8% in January from 3.9% in November and 8.7% a year ago, the Philippine Statistics Authority reported on Tuesday. This was the lowest print in over three years or since the 2.3% seen in October 2020.

The January consumer price index was slower than the 3.1% median estimate in a BusinessWorld poll and was at the lower end of the central bank’s 2.8-3.6% forecast for the month.

For Wednesday, the trader said the peso could drop anew due to potentially hawkish remarks from US Federal Reserve officials.

The trader expects the peso to move between P56.10 and P56.35 per dollar on Wednesday, while Mr. Ricafort sees the local unit ranging from P56.10 to P56.30. — A.M.C. Sy

Stocks climb further as inflation slows sharply

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PHILIPPINE SHARES closed higher for the third straight day on Tuesday following the release of data showing that inflation slowed sharply in January.

The Philippine Stock Exchange index (PSEi) climbed by 27.04 points or 0.4% to close at 6,755.26 on Tuesday, while the broader all shares index rose by 13.91 points or 0.39% to end at 3,539.05.

“This Tuesday, the local market rose by 27.04 points (0.4%) to 6,755.26 as investors cheered the inflation data for January, which came in at 2.8%,” Philstocks Financial, Inc. Research and Engagement Officer Mikhail Philippe Q. Plopenio said in a Viber message.

“Philippine shares managed to overcome the weaker sentiment from the US, as inflation fell below the 3% mark in January, giving the BSP (Bangko Sentral ng Pilipinas) more room to maneuver its interest rate policy,” Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a Viber message.

Headline inflation slowed to 2.8% in January from 3.9% in November and 8.7% a year ago, the Philippine Statistics Authority reported on Tuesday.

This was the slowest print recorded in three years or since the 2.3% seen in October 2020, during the coronavirus pandemic.

The January consumer price index (CPI) was below the 3.1% median estimate in a BusinessWorld poll last week and was at the lower end of the BSP’s 2.8-3.6% forecast for the month.

It also marked the second straight month that the CPI was within the central bank’s 2-4% annual target.

Following the data release, the BSP said the Monetary Board will keep its policy stance “sufficiently tight until a sustained downtrend in inflation becomes evident,” noting that risks remain tilted to the upside despite slower January CPI.

The BSP raised benchmark interest rates by 450 basis points from May 2022 to October 2023, bringing the policy rate to a 16-year high of 6.5%.

The Monetary Board will hold its first policy meeting for the year on Feb. 15.

“Adding to the positive sentiment was the report from Moody’s Analytics wherein it sees the Philippine economy performing better in the second half of the year amid cooling inflation and declining interest rates,” Mr. Plopenio added.

Almost all sectoral indices closed higher on Tuesday. Services increased by 19.27 points or 1.16% to 1,676.18; property went up by 20.75 points or 0.71% to 2,916.06; holding firms climbed by 39.38 points or 0.62% to 6,379.59; mining and oil rose by 32.14 points or 0.35% to 9,143.72; and industrials added 22.05 points or 0.24% to end at 9,134.08.

Meanwhile, financials dropped by 9.05 points or 0.46% to 1,928.25.

Value turnover went down to P4.76 billion on Tuesday with 749.46 million issues switching hands from the P5.26 billion with 425.46 million shares traded the previous day.

Advancers and decliners ended at 93 each, while 57 names closed unchanged.

Net foreign buying fell to P44.45 million on Tuesday from the P127.83 million recorded on Monday. — R.M.D. Ochave

ECCP in tie-up with ARTA to help improve ease of doing business

European Chamber of Commerce of the Philippines Logo

THE European Chamber of Commerce of the Philippines (ECCP) and the Anti-Red Tape Authority (ARTA) said they entered into a partnership to make it easier to do business, thereby attracting more European investment into the Philippines.

“This ceremonial event marks a significant milestone as we signed a memorandum of understanding with ARTA which is a commitment that underscores our shared vision for a business-friendly environment in the Philippines,” ECCP President Paulo Duarte said on Tuesday.

“Through this partnership, we aspire to be more active in advocating for ease of doing business in the Philippines, leveraging our platform to raise awareness among our members and partners,” Mr. Duarte added.

He said that under the partnership, the ECCP will be providing policy recommendations to “help ensure that ARTA remains responsive to the needs of the business community.”

ARTA Secretary Ernesto V. Perez said that the partnership authorizes ECCP to receive complaints from the business sector, professionals and civil society organizations and endorse them to ARTA for appropriate action.

“Just like our other MoUs, this will encourage businessmen to work with us now because the number one concern among investors and businessmen is ease of doing business,” Mr. Perez said.

“The signing is a step towards assuring our businessmen, investors, and members of the ECCP, which constituted a big portion of investors in the country, that the administration is really serious about providing them the right avenue and the right resources, for ease of doing business in the country,” Mr. Perez said.

Mr. Duarte said that among the issues raised by European companies concern financing, the import process, and the slow processing of documents and permits.

“We, at the ECCP, consider ease of doing business as one of the major pillars to (attract) the interest of foreign investors… but also support those which are already here,” he added.

The ECCP has close to 800 members composed of European companies and Philippine companies doing business with Europe. — Justine Irish D. Tabile

Mindanao rail phase one to go ahead even with funding uncertain — DoTr

THE Department of Transportation (DoTr) said it will continue to work on the first phase of the Mindanao Railway project after dropping China as funding source.

“We decided to pursue Phase 1 of the Mindanao Railway project despite withdrawal of the prior funding commitment from the government of China. While looking for funding sources, various pre-construction activities show we are not dropping the project,” Transportation Secretary Jaime J. Bautista said in a statement on Tuesday.

The DoTr said it will continue the various pre-construction activities in Davao City while still negotiating funding for the project.

The first phase of the Mindanao Railway project covers the 102-kilometer segment from Tagum City, Davao del Norte to Digos City, Davao del Sur. This segment is valued at P81.6 billion.

Once finished, the line will serve around 122,000 passengers a day and is expected to reduce travel time to one hour from the current three hours from Tagum City to Digos.

In 2023, the DoTr announced that it is considering official development assistance from Japan, South Korea, and India to fund the government’s three major railway projects including the Mindanao Railway, after dropping China as funding source.

The decision to withdraw the Philippine request for official development assistance from China is due to lack of progress in signing a financing deal.

Mr. Bautista has said the DoTr is studying the feasibility of phase three, which will focus on cargo lines to the various ports in the region. — Ashley Erika O. Jose

Weak exports seen as main risk to PHL GDP growth target in 2024

ASIANTERMINALS.COM.PH

SLUGGISH overseas demand poses the biggest risk to Philippine growth this year, imperiling the official gross domestic product (GDP) target of 6.5-7.5%, BMI Country Risk & Industry Research said.

In a report, BMI said the 6.5% to 7.5% target will be difficult to achieve this year, despite the economy’s strong growth momentum.

“Like many of its regional peers, a deteriorating external demand picture will exert the biggest drag on the Philippines’ economy. Already, we are seeing its impact,” BMI said.

The economy expanded 5.6% in 2023, against the 7.6% posted in 2022 and below the government’s 6-7% full-year target, as exports declined, the Philippine Statistics Authority (PSA) said.

Exports of goods and services declined 2.6% in the fourth quarter, a reversal of the 2.6% growth in the third and the 14.6% expansion a year earlier. This brought full-year growth to 1.3%, well below the 10.9% posted in 2022.

“We think that a turnaround is unlikely given that our team is forecasting global growth to edge down from 2.6% in 2023 to 2.2% in 2024. To be sure, Philippines’ major trading partners are also facing significant headwinds of their own,” BMI said.

It said that a recession in the US and in China bodes poorly for the Philippine external sector, as these economies account for one-third of the country’s total exports.

The PSA also reported that merchandise exports dropped 7.6% to $73.52 billion in 2023, reversing the 6.5% growth posted in 2022.

The US was the top export destination last year with a 15.7% share worth $11.54 billion. Exports to China accounted for a 14.8% share, followed by Japan (14.2%), and Hong Kong (12%).

Meanwhile, imports fell 8.2% to $125.95 billion in 2023, ending two straight years of import growth.

The full-year trade balance — the difference between exports and imports — narrowed 9.1% to a $52.42-billion deficit. It was the lowest trade deficit since the $42.19 billion recorded in 2021.

BMI also expects the Philippines to grow 6.2% this year with easing inflation and low unemployment supporting household spending this year.

“Most of the economic strength going forward will be domestically driven. For starters, slowing inflation will boost household spending,” the research unit said.

Headline inflation slowed to 2.8% in January, from 3.9% in November and 8.7% a year earlier, the PSA reported. This is the second straight month that inflation was within the 2-4% target band of the Bangko Sentral ng Pilipinas (BSP).

January inflation was the weakest since the 2.3% posted in October 2020, during the coronavirus pandemic.

Inflation also came in well below the 3.1% median estimate of a BusinessWorld analyst poll last week and breached the lower end of the 2.8-3.6% forecast of the BSP.

“Our view is for inflation to fall back to trend in 2024, offering some much-needed respite for real household incomes after a rough 2023. On top of that, labor market conditions are very tight by historical standards and the unemployment rate is now at record lows,” BMI said.

Household consumption rose 5.3% in the fourth quarter, exceeding the 5.1% from the preceding quarter but below the 7% posted a year earlier. In 2023, household spending expanded 5.6%, much weaker than the 8.3% reported in 2022.

The unemployment rate fell to a record low of 3.6% in November from the 4.2% readings in October and in November 2022.

The number of unemployed decreased 12.3% or to 1.83 million in November from 2.09 million in October. It was also 15.8% lower than the 2.18 million jobless in November 2022.

“Monetary easing will support investment activity. We are growing increasingly confident that the central bank’s next move will be a cut,” BMI said.

To tame inflation, the Monetary Board hiked borrowing costs by a total of 450 basis points from May 2022 to October 2023, bringing the key rate to a 16-year high of 6.5%.

“Our view is for cuts to begin in earnest in the second half which is one reason why we have penciled in an acceleration in investment growth in 2024,” BMI added.

Gross capital formation — the investment component of the economy — rose 11.2% in the fourth quarter, against the 3.3% a year earlier. For the full year, gross capital formation rose 5.4%, slowing from 13.8% in 2022. — Keisha B. Ta-asan

Nuclear regulatory overhaul signals gov’t gearing up to hit 2,400-MW target by 2032

PNRI.DOST.GOV.PH

THE creation of a nuclear energy program coordinating committee (NEP-CC) will ramp up preparations to hit an ambitious 2,400-megawatt (MW) target by 2032, analysts said.

“Hopefully this will hasten the clearing and approval of nuclear power construction and commissioning in the Philippines,” Bienvenido S. Oplas, Jr., president of the free market think tank Minimal Government Thinkers, said in a Viber message.

In an order dated Jan. 29, the Department of Energy (DoE) created NEP-CC to ensure its “effective participation” in the NEP-Inter-Agency Committee (NEP-IAC).

The DoE has revised its energy roadmap to incorporate in the 2023 to 2050 Philippine Energy Plan a clean energy scenario which envisions “a more diverse energy mix that includes nuclear energy.”

“As the country embarks on Phase 2… and Phase 3…, there is a need to reorganize the coordinating arm of the DoE to effectively and responsibly assist the NEP-IAC and realize the DoE’s goal of tapping 2,400 megawatts of nuclear power by 2032,” according to the order.

Phase 2 involves the preparatory work for the construction of a nuclear power plant after the drafting of a nuclear policy, while Phase 3 includes activities to build a first nuclear power plant.

Mr. Oplas said that the Philippines should move fast in nuclear development because of “economic imperatives.”

At a gross domestic product growth rate of 6%, the Philippines will require about 7-8 terawatt-hours of power yearly until 2030, he said.

On the other hand, “We are not surprised by this development. The DoE, it appears, has long been intent in abandoning science, economics, or reality,” Gerry C. Arances, executive director of the Center for Energy, Ecology, and Development, said in a Viber message.

Citing the data from the Institute for Energy Economics and Financial Analysis, Mr. Arances said that the levelized cost of nuclear power in 2023 was expensive compared to utility-scale solar and wind.

“Why invest in expensive power sources with a track record of safety issues when there are safer, cheaper options like renewable energy?,” he said.

Terry L. Ridon, a public investment analysts and convenor of think tank InfraWatch PH, said that the government should “immediately schedule discussions with international partners to discuss its viability, particularly its safety, in the Philippines,” if it is to decide to introduce nuclear energy into the power mix.

“Developing nuclear energy will ultimately depend on the international partner, as pricing, safety standards and technology will be determined by the track record of this partner,” Mr. Ridon said. — Sheldeen Joy Talavera

Vape product seizures hit P5.5 million

RAINIER RIDAO-UNSPLASH

THE Department of Trade and Industry (DTI) said on Tuesday that it confiscated vape products valued at P5.5 million over non-compliance with rules governing the industry.

“(W)e are working double time on our enforcement operations to prevent the sale of vaping products to minors — that is our duty. Also, we will continue to work with our partner agencies and stakeholders to ensure that violators of Republic Act (RA) 11900 are penalized accordingly,” Trade Secretary Alfredo E. Pascual said in a statement.

The DTI monitored physical and online stores, which resulted in the seizure of over 18,000 non-compliant items.

The DTI is enforcing RA 11900 or the Vaporized Nicotine and Non-Nicotine Products Regulation Act, having issued notices of violation and show-cause orders to 269 physical stores.

Meanwhile, the department also inspected over 66,000 online vape stores, 61,000 of which were issued show-cause orders.

According to the DTI, those who were issued notices of violation or show-cause orders will have to submit a written explanation within 48 hours from notification.

The violations include improper packaging and labeling in a manner designed to “unduly appeal to minors,” it said.

“The DTI also flagged violators who used cartoons, anime, manga, animated characters, youth influencers, and personalities,” it added

RA 11900 prohibits the sale of e-cigarettes and vaping products to those below 18 and regulates packaging deemed particularly attractive to minors.

DTI said that 200 formal charges have been filed which are subject to administrative fines if violations are found.

“The DTI anticipates the effectivity of the mandatory certification and registration of vape products by June 5, and enforcement of product standards and product registration by 2025,” the department said.

Late last month, advocacy group Quit for Good cited instances of marketing to minors which it said was uncovered by an ongoing investigation of the House Committee on Ways and Means. — Justine Irish D. Tabile

Rice farmer funding support set at P22.9 billion

PHILIPPINE STAR/KRIZ JOHN ROSALES

THE Department of Agriculture (DA) said it allocated P22.9 billion for financial assistance to rice farmers, with the funding to go towards procuring farm inputs and providing technical support.

In Memorandum Order No. 8, the DA said the inputs designated for funding are hybrid seed, fertilizer, and biofertilizer.

The DA said the assistance will be distributed via printed one-time use vouchers, intervention monitoring cards, or other forms of procurement in areas without accredited merchants.

The DA said late last year that it will digitalize the procurement and distribution of agricultural inputs to its beneficiaries.

The regional field offices are tasked to identify farmer beneficiaries to support, fertilizer to distribute, and the variety of hybrid rice to be given out. — Adrian H. Halili

Cash utilization hits 98% in 2023

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THE cash utilization rate posted by government agencies was 98% at the end of 2023, the Department of Budget and Management (DBM) said.

The DBM reported that the National Government, local governments and state-owned firms used 98% or P4.34 trillion of the P4.45 trillion in the notices of cash allocation (NCAs) issued to them.

The 2023 performance matched the 98% utilization rate posted in 2022.

The remaining unused NCAs totaled P107.9 billion at the end of December.

Line departments used 97% of their allotments, equivalent to P3.24 trillion of the P3.34 trillion NCAs issued.

Last year, the departments of Interior and Local Government and Public Works and Highways, the Office of the Ombudsman, Commission on Elections, Commission on Human Rights, and the Judicial branch used 100% of their NCAs.

Meanwhile, the Department of Migrant Workers posted the lowest utilization rate of 39%.

Budgetary support to government-owned companies was 99% used, while the corresponding rate for local government units was 100% utilized.

NCAs are a quarterly disbursement authority that the DBM issues to agencies, allowing them to withdraw funds from the Bureau of the Treasury to support their spending needs.

The DBM earlier reported a budget release rate of 97.6% at the end of November. This was equivalent to P5.406 trillion out of the P5.537-trillion adjusted spending plan this year, leaving P131.25 billion in remaining funds.

Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said it is crucial for the government to ensure the expedited utilization of the budget this year.

“Further boosting the budget utilization of government agencies especially for 2024, learning from the lessons from government underspending earlier in 2023, would further help boost government spending especially on infrastructure and will contribute more to economic growth and development that is more sustainable and inclusive,” he said in a Viber message.

In December, President Ferdinand R. Marcos, Jr. signed the P5.768-trillion national budget for 2024.

John Paolo R. Rivera, president and chief economist at Oikonomia Advisory & Research, Inc., noted that the budget must be spent on “productive expenditure items that will create multiplier effects for the economy.”

“We want to see improved budget utilization on productive spending that brings about returns to the economy,” he said in a Viber message.

The Philippine Statistics Authority reported that government spending contracted 1.8% in the fourth quarter. Full-year spending was little changed at 0.4%.

Government spending had contracted 7.1% in the second quarter, which dragged on growth and prompted the Finance and Budget departments to order agencies to implement catch-up plans to improve budget usage. — Luisa Maria Jacinta C. Jocson

Digital transactions VAT bill elevated to Senate plenary

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THE COMMITTEE report of a Senate bill seeking to impose a 12% value-added tax (VAT) on digital transactions, which now includes nonresident foreign online marketplaces with customers in the Philippines, has been sponsored out to the plenary.

During Tuesday’s plenary session, Ways and Means Committee chairman Senator Sherwin T. Gatchalian, who sponsored Senate Bill No. 2528, said the measure will require nonresident electronic marketplaces to withhold and remit VAT on transactions that are coursed through their platforms, provided the buyer is in the Philippines.

“This is not a new tax imposition,” he said. “We are just collecting the tax that we ought to be collecting from non-resident digital service providers.”

Under the measure, a nonresident digital service is defined as not having a “physical presence” in the Philippines.

He noted that foreign online streaming platforms with subscribers in the Philippines do not pay 12% VAT under the current Tax Code.

The Department of Finance is expecting the tax measure to bring in P83.8 billion in revenue from 2024 to 2028.

Under the bill, online courses, seminars and training programs by private educational institutions accredited by the Department of Education and the Commission on Higher Education are exempt from remitting 12% VAT.

It will also impose a “reverse charge mechanism” which will make a recipient of the goods or services liable to pay the VAT instead of the provider.

“For instance, if a VAT-registered resident corporation buys materials through Amazon.com, It will then be the VAT-registered taxpayer who shall be liable to withhold and remit the VAT,” Mr. Gatchalian said.

The Commissioner of Internal Revenue will also be authorized to order the blocking or suspension of the services of digital providers if they do not pay the 12% VAT. The actual blocking will be carried out by the National Telecommunications Commission.

The House of Representatives approved a similar measure in November 2022.

“We believe in the importance of creating an environment where our digital service providers, whether they are nonresident or local, operate under fair and square tax policies,” Mr. Gatchalian said.

“We are committed to (creating) a level playing field.” — John Victor D. Ordoñez

Pluxee Philippines eyes double-digit growth

By Revin Mikhael D. Ochave, Reporter

GIFTING and rewards provider Pluxee Philippines is aiming to achieve double-digit growth in terms of business volume this year, according to an official.

“We aim to have double digit growth in terms of business volume and revenue (this year). At a lower double-digit,” Pluxee Philippines Chief Executive Officer Mert Cetin said at the sidelines of a media launch event in Makati City on Tuesday. However, he opted not to provide specific figures.

“Our primary target is really having more clients and more merchants,” he added.

Mr. Cetin said the growth of Pluxee Philippines, formerly Sodexo Benefits and Rewards Services Philippines, will be driven by the country’s economic growth.

The shift to Pluxee from Sodexo Benefits and Rewards is part of efforts to “elevate the overall experience of its clients, partner merchants, and consumers.”

“What is driving the growth is the Philippine economy and employment. Another is that digital products are bringing a lot of new clients on the table. Digitalization opens immense opportunities,” Mr. Cetin said.

“There are always global political risks that we are facing. However, the Philippine market is not prone to that. But in terms of the megatrends, our products will be demanded more in the coming years given that the global economy is growing well. I don’t see too much (risks),” he added.

Philippine GDP growth expanded by 5.6% in 2023, below the government’s 6% to 7% target and slower than the 7.6% increase in 2022.

“During the pandemic, the spending habit really converted into groceries and basic necessities. But now, after opening up, we see more of revenge travel, more of fashion, retail, and dining. It depends on the time of the year and the trends,” Mr. Cetin said.

Meanwhile, Pluxee Philippines Marketing Director Sharon K. Velasco confirmed that all Sodexo products could still be used amid the transition from Sodexo Benefits and Rewards.

“You can still use your premium pass. All Sodexo products, whether digital or paper, can still be used under the validity dates indicated on the products. However, if you want to convert them, call our customer hotline,” Ms. Velasco said.

Pluxee Philippines has over 17,000 accredited merchants. It offers the Pluxee Philippines app where clients can send Pluxee Gift credits, which are partially redeemable in over 10,000 merchants and can also be used in app-exclusive brands such as Angkas, Grab, Klook, Lazada, and Shopee. It can also be sent as codes via text message or e-mail.

The company also offers the Pluxee gift card that could be used instantly in stores or converted to Pluxee gift credits via the app to enable partial redemption and access to app-exclusive brands.

Magnolia bracing to stop SMB offensive juggernaut in Game 3

SAN MIGUEL BEER -- PBA.PH

Game Wednesday
Smart Araneta Coliseum
7:30 p.m. — San Miguel Beer vs Magnolia
* SMB leads series, 2-0

AT THE rate it’s going, well-oiled San Miguel Beer (SMB) looks pretty unstoppable in its duel for the Philippine Basketball Association (PBA) Commissioner’s Cup crown with Magnolia.

Playing every inch the “Death 15” they’re touted to be, the Beermen have thrown their weight around the best team of the eliminations, 103-95 in Game 1 and 109-85, to go 2-0 in what many expected as a neck and neck.

Some observers are even starting to think of “sweep” due to the one-sided situation of this race-to-four clash. But don’t tell that “S” word to SMB coach Jorge Gallent, whose crew’s day-by-day approach has served them well not only in the finals but in nine other previous games dating back to the eliminations.

“2-0 is nothing,” Mr. Gallent said ahead of Wednesday’s Game 3 at the Smart Araneta Coliseum, which is expected to get more highly-charged in the wake of the heated incidents both on-court and off-court in the last match.

“We just achieved a 2-0 lead as of now. We haven’t achieved our target (the championship). We have two more games to focus on. The sweep is not even in our minds. Our thinking is how to get our third win and then our fourth before them.”

If there’s one team that sees light at the end of the tunnel amid a 0-2 predicament, it’s got to be Magnolia.

In their franchise history, the Hotshots (or previously Purefoods TJ Hotdogs) managed to come back from such a deficit and complete a 4-3 steal three times before — 2019 Philippine Cup semis over Rain or Shine, 2006 Philippine Cup semis over Alaska and 2002 Governors Cup finals over the Aces.

“We’re not giving up,” said a defiant Magnolia mentor Chito Victolero. “This is not the time to quit because we prepared and dreamt of this eight months ago. The only thing we need to do is rise and prepare for Wednesday.”

Mr. Victolero’s squad needs to return to being an efficient defensive machine if it were to stop SMB’s offensive juggernaut.

Led by Bennie Boatwright (31 points per game), CJ Perez (19.5, June Mar Fajardo (15) and Marcio Lassiter (13.5), the Beermen averaged 106 markers in the series, way above what Magnolia usually allowed in the conference.

At the same time, the usual suspects for the Hotshots like Paul Lee, Jio Jalalon and the controversial Calvin Abueva should crank it up to complement Tyler Bey and Mark Barroca, who have been their best performers so far with 24 and 13.5 scoring averages, respectively.

SMB and Magnolia go at it three nights after an eventful entanglement marred by a verbal spat between Messrs. Gallent and Abueva in the fourth and Mr. Abueva, Mo Tautuaa and their respective wives post-game.

The pro league has launched an investigation on the incidents and is expected to hand out sanctions after hearing the sides of those involved. — Olmin Leyba

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