Facebook Instagram Linkedin Twitter Youtube
Home Blog Page 2357

Baguio, Chinese city eye sisterhood

PHILSTAR FILE PHOTO

BAGUIO CITY — The cities of Baguio in the northern Philippines and Chongzuo in China have started talks towards forging twinning and sisterhood ties.

Last week, a delegation from the Philippine-Guangxi Commercial Association, Inc. serving as representatives of Chongzuo City visited Baguio City and interacted with the members of the Sister Cities Executive Committee that focuses on processes towards forging the sisterhood ties.

The delegation was composed of Executive Vice Presidents Zhao Fu’an and Feng Tao, Vice President and General Secretary Wei Shengbo, Sister City Ambassador Bo Tao Zheng, Administrative Officer/Coordinator Mary Alice S. Rumbaoa and Technical Working Staff Zhang Hailin, Iyu Zhanglu and Julieta Quinto.

Both Baguio and Chongzuo share common physical attributes such as being mountainous and hilly, with Baguio having only about 57 square kilometers compared to Chongzuo’s more than 17,345 km2 land area that borders with Vietnam.

Baguio City, a cultural hub in the Cordillera highland region, thrives on tourism, education, retail, and services, supported by agriculture and academic institutions. On the other hand, Chongzuo is shaped by Chinese culture, relies on agriculture, forestry, and ecotourism, contributing to the Guangxi Autonomous Region’s economic growth.

Chongzuo features rapid urban infrastructure development, while Baguio balances sustainable development and preservation, showcasing a mix of urban and rural areas with modern infrastructure. — Artemio A. Dumlao

German interest in PHL to grow pool of RE investors

REUTERS

By John Victor D. Ordoñez, Reporter

RENEWABLE ENERGY (RE) tie-ups with Germany raise the prospect of leading-edge technology and financing being introduced to the solar and offshore wind sector, industry officials said.

“Germany can provide financing and technology for the deployment of RE,” Michael O. Sinocruz, director of energy policy and planning at the Department of Energy (DoE), said in a Viber message.

“Germany has good technology for solar and wind,” he added.

Last week, German Foreign Minister Annalena Charlotte A. Baerbock said her country is seeking to enter into RE and raw materials agreements with the Philippines this year.

German companies see the Philippines as an attractive location to explore RE ventures, she said.

“Germany and the Philippines are also key countries in global climate protection initiatives, especially since the Philippines is vulnerable to climate catastrophes,” she said.

The government has RE tie-ups in the pipeline with Japan, Denmark and Singapore, among others, Mr. Sinocruz said.

“Germany should be able to provide expertise on further expanding our renewable footprint, as it remains a global leader in the transition to a low emission environment,” Terry L. Ridon, a public investment analyst and convenor of the think tank InfraWatch PH said in a Facebook Messenger chat.

The government should identify locations for potential solar and wind farms as the Philippines tries to boost RE’s contribution to its energy mix, he added.

The Philippines aims to increase the share of RE in the power generation mix to 35% by 2030 and to 50% by 2040. Renewables currently account for 22% of the Philippine energy mix.

As of October, the DoE has awarded at least 1,300 RE contracts with a total potential capacity of 130,880.8 megawatts.

The Philippines has potential offshore wind resources of 178 gigawatts, with large parts of the coast having wind that can power turbines, the Board of Investments (BoI) has estimated.

Wind project is expected to help the government achieve its target of producing 15.3 gigawatts of clean energy by 2030 under the Philippine Development Plan.

On Dec. 21, the BoI issued a certificate of endorsement to Ivisan Windkraft Corp. for its 450-megawatt Frontera Bay Wind Power Project off Cavite, which is poised to become the Philippines’ first offshore wind project.

Minimal Government Thinkers founder Bienvenido S. Oplas, Jr. said the government should not rely too heavily on Germany to pursue its RE goals since the Philippines is facing its own problems with energy prices, a problem which arose in Germany when it retired its coal-fired plants and chose to rely on Russia for its gas supply.

“Right now, Germany is in a spiral of rising energy prices, growth deceleration and deindustrialization,” he said in a Viber message.

Legislators have been pushing for a bill seeking to ease the process for importing liquefied natural gas (LNG) amid uncertainty surrounding the gas remaining in the Malampaya field.

Senator Sherwin T. Gatchalian said last year that LNG will aid in the transition to RE.

The Malampaya gas field is the country’s only indigenous commercial source of natural gas. It is expected to run out of easily recoverable gas using current techniques by 2027.

In May last year, President Ferdinand R. Marcos, Jr. extended the Malampaya Service Contract 38 to Feb. 22, 2039, giving operators a 15-year window to further exploit the field beyond the initial Feb. 22, 2024 expiration date.

The gas field accounts for about 20% of Luzon’s electricity requirements.

VAT exemption expires for drugs, equipment used to treat COVID-19

THE Bureau of Internal Revenue (BIR) said capital equipment, drugs, and vaccines for coronavirus disease 2019 (COVID-19) are no longer exempt from value-added taxes (VAT).

In a Revenue Memorandum Circular, the BIR said that the sale or import of all drugs, vaccines, and medical devices specifically prescribed and directly used for the treatment of COVID-19 are now subject to VAT, effective Jan. 1, 2024.

Republic Act No. 11534 or the Corporate Recovery and Tax Incentives for Enterprises Act authorized the VAT exemption on imports and sales of medicine and devices used to treat COVID-19.

The period for exemption ran between Jan. 1, 2021 and Dec. 31, 2023.

The list of items that will now be subject to VAT includes spare parts for capital equipment and raw materials needed in the production of personal protective equipment such as coveralls, gown, surgical caps, surgical masks, N-95 masks, scrub suits, goggles and face shields, surgical gloves, dedicated shoes, and shoe covers for COVID-19 prevention.

Also no longer exempt from VAT are drugs for the treatment of COVID-19 approved by the Food and Drug Administration for use in clinical trials, including raw materials directly necessary for the production of such drugs. — Luisa Maria Jacinta C. Jocson

PHL growth expected to pick up in 2024

PHILIPPINE STAR/MIGUEL DE GUZMAN

THE PHILIPPINES is expected to post improved gross domestic product (GDP) growth this year due to robust infrastructure spending, but growth will likely remain below the government’s target of 6.5-7.5% due to high interest rates and weak external demand.  

Nomura Global Markets Research in a report dated Jan. 12 said GDP may improve to 5.8% in 2024 from an estimated 5.2% in 2023. The research firm kept its growth forecasts unchanged for the Philippines.

“The main growth engine is public infrastructure spending, which is likely to gather momentum after a slow start,” Nomura said.

The economy grew 5.9% in the third quarter, accelerating from the 4.3% posted in the second quarter. In the first nine months, economic growth averaged 5.5%, still below the government’s 6-7% full-year target for 2023. 

Government spending jumped 6.7% in the third quarter, against 0.7% a year earlier and a turnaround from the 7.1% contraction in the second quarter.

Meanwhile, household consumption hit a two-year low of 5%, from 8% a year earlier and 5.5% in the preceding quarter.

“Private consumption is likely to be held back by high interest rates, which should persist for a while, while export growth will likely be modest, given our global growth forecasts,” Nomura said.

The Bangko Sentral ng Pilipinas (BSP) raised borrowing costs by 450 basis points (bps), bringing the key interest rate to a 16-year high of 6.5%.

The overall year-on-year increase in prices of widely-used goods and services slowed to a 22-month low of 3.9% in December, from 4.1% in November and 8.1% a year earlier.

However, inflation averaged 6% in 2023, accelerating from the 5.8% posted in 2022. This marked the second straight year that inflation had breached the BSP’s 2-4% target band.

The 6% reading was the highest in 14 years, or since the 8.2% average in 2008, at the height of the global financial crisis.

“We forecast inflation at 3.5% year on year in 2024, down from 6% in 2023, with base effects set to become more favorable over the next few months, particularly for food inflation,” Nomura said.

On the other hand, while inflation returned to the BSP’s 2-4% target band in December, the central bank is unlikely to start cutting policy rates in the near term.

“We reiterate our forecast for BSP to start cutting only in August, when we expect inflation to become more entrenched within the target. We forecast a total of 150 bp in rate cuts from BSP through the first quarter of 2025 to a terminal rate of 5%,” it said.

In a note dated Jan. 12, GlobalSource Partners Country Analyst Diwa C. Guinigundo said inflation remains the topmost concern of most Filipinos, citing a December survey from Pulse Asia Research, Inc.

“With rice being the staple food of most Filipinos, movements in its price significantly affect consumers’ views of the government’s ability to control inflation. The same dynamics could have been driven by selected basic items like onions and garlic, and key fuel prices,” Mr. Guinigundo said.

“Households and even firms may have moved out of the so-called zone of ‘rational inattention.’ Outside of such a zone, inflation, no matter how much it establishes a downtrend, could have limited influence on their behavior,” he added.

Meanwhile, HSBC economist for ASEAN (Association of Southeast Asian Nations) Aris D. Dacanay said Philippine GDP may expand by 5.3% in 2024, unchanged from 2023.

“The growth forecast is lower than government targets. It’s not to say that reaching the target is impossible. But it’s a very tall order given the global headwinds that we have today,” Mr. Dacanay said.

He said countries will be experiencing slowdowns due to weak external demand from the US and China.

However, at 5.3% the Philippines is poised to become the fastest growing economy in ASEAN for 2023 and the second fastest in 2024, after Vietnam, he said. This is due to the country’s robust labor force.

The Philippine Statistics Authority estimates that unemployment fell to 3.6% in November from 4.2% a month prior. It was the lowest reading since 2005.

The number of unemployed declined 12.3% or 257,000 jobless to 1.83 million in November compared with October. It was also 15.8% or 343,000 lower than the 2.18 million reported in November 2022.

In the first 11 months, the unemployment rate was 4.5%, well below the 5.3-6.4% government target. — Keisha B. Ta-asan

Maharlika seen well-positioned to serve as national dev’t fund 

 

THE Philippine Chamber of Commerce and Industry (PCCI) said on Sunday that the Maharlika Investment Fund (MIF) is suitable for employment as a national development fund.

In a statement, the business group said it supports the proposal of Rafael Jose D. Consing, Jr., president and chief executive officer of the Maharlika Investment Corp. (MIC), to use Maharlika fund to support national development projects.

“MIF is in the best position to invest in projects that support economic and social development plans and fulfill priorities under the Philippine Development Plan (PDP),” PCCI President Enunina V. Mangio said.

She added that Maharlika can be used to fund capital-intensive projects in energy, water, transport and information and communications technology sectors, which are critical to the productivity of enterprises.

“Investing in critical sectors drives agriculture and industrial innovation and other important businesses or projects that can enhance efficiency and improve the agriculture and industrial structure, in line with the PDP,” she said.

“The MIF is in the best place to achieve these having the mandate of President Ferdinand R. Marcos, Jr. himself,” she added.

 At the first MIC board meeting, Mr. Consing said that the sovereign wealth fund “could potentially invest in the power, agroforestry, industrial, urbanization, mineral processing, tourism, transportation, and aviation sectors.”

 Under the law creating the fund, P125 billion in initial capital will be provided by the Land Bank of the Philippines and Development Bank of the Philippines, which will supply P50 billion and P25 billion, respectively.

 Meanwhile, the National Government is also being counted on to contribute P50 billion. The authorized capital stock of the MIC is P500 billion. — Justine Irish D. Tabile

Dearth of microgrid bidders blamed on lack of time to prepare proposals

THE Department of Energy (DoE) said the lack of time for potential proponents to prepare project proposals was behind the first auction for microgrid systems attracting only one bidder.

“There (was not enough time) for the proponents to come up with complete studies of the target areas,” Energy Assistant Secretary Mario C. Marasigan told reporters.

“That is one of our major considerations. Is there really a lack of information in the documents for our proponents to come up with a good proposal?,” he added.

On Dec. 27, the DoE concluded the opening of the bid proposals for the first microgrid service provider competitive selection process.

Of the nine pre-qualified bidders, the Maharlika Consortium submitted six complete bid proposals covering eight lots that include unserved areas in the provinces of Cebu, Quezon, and Palawan.

The Maharlika Consortium groups three companies — Clean Power Holdings, Inc., Singapore-based CleanGrid Partners Pte. Ltd., and Singapore-based renewable energy company WEnergy Global Pte. Ltd.

Under Republic Act No. 11646 or the Microgrid Systems Act, the Energy department is required to conduct a CSP for potential concessionaires seeking to serve off-grid areas.

The auction offered covered 98 unserved and underserved areas clustered into 49 lots with a total of over 15,000 households for potential connection.

“(The next auction) will be this year because our target is annual CSPs,” Mr. Marasigan said.

He said the DoE needs to revisit the terms of reference, which guide proponents in drafting their proposals.

“So if what is lacking is time, data and information, then we have to address those. It may call for some amendments in the terms of reference we used in the first CSP,” he said.

Mr. Marasigan said that they will start with the processing of the second round upon the completion of the process of evaluating the offers received.

“We have to consider our experience during the first conduct of CSP for microgrid systems (and apply it to) the succeeding (auctions) because we have to evaluate ourselves also,” he said.

The government is targeting to achieve full electrification by 2028.

In its National Total Electrification Roadmap, the DoE has identified 285 unserved areas and 122 underserved areas in off-grid locations that will be prioritized for tender to private sector investors through a CSP. — Sheldeen Joy Talavera

CITEM targets $3.82 million in sales from Frankfurt trade show 

AMBIENTE.MESSEFRANKFURT.COM

THE Department of Trade and Industry’s (DTI) Center for International Trade Expositions and Missions (CITEM) hopes to generate $3.82 million in sales at the five-day Ambiente trade show organized by Messe Frankfurt in Germany.

“For 2024, CITEM is bringing its biggest delegation of Philippine enterprises and manufacturers, collectively aiming to reach $3.82M in sales during the five-day trade fair,” CITEM said in a statement.

CITEM said the Philippine delegation will consist of 40 up-and-coming brands, which will exhibit at the trade show between Jan. 26 and 30.

If the target is realized, it will represent a 40% increase from the sales booked in the 2023 edition of Ambiente, where the Philippines fielded a 30-strong delegation.

CITEM Executive Director Edward L. Fereira said that DESIGNPhilippines, which markets artisanal Philippine brands internationally, has seen continuous growth in export sales, inquiries, and buyer numbers.

“We are beyond excited to expand our offerings with more exhibitors and two partner provinces for this edition,” Mr. Fereira said.

The 40 brands and manufacturers have gone through training and collaboration with product development consultants, with CITEM’s assistance.

“The Philippine delegation… (offers) a diverse product selection. With a strong focus on sustainability, many of the products are made of ceramics, clay, woven fiber, resin, and wood,” CITEM said.

For this year, CITEM will be highlighting the provinces of Antique and Quirino which will bring 10 and 11 manufacturers, respectively.

The Antique delegation will be bringing textiles, looms and home decor to the trade fair which it developed with the Design Center of the Philippines and the DTI Antique office.

Meanwhile, the Quirino delegation will exhibit fossilized flowers, bags, fashion items, furniture and handmade decor. — Justine Irish D. Tabile

How climate risk reporting can turn ambition into action

At the 2023 United Nations Climate Change Conference (COP28), countries agreed to take collective action to move away from fossil fuels. This first-ever consensus aims to put an end to oil, gas, and coal use in energy systems and sets ambitious targets to triple renewable energy and double energy efficiency by 2030 — keeping the 1.5°C Paris Agreement goal within reach.

COP28’s bold aspirations toward decarbonization highlight the urgent need for the climate disclosure landscape to evolve rapidly. Climate reporting plays a crucial role in helping us understand whether the whole economy and the sectors and companies within it are moving towards true transition.

This is the first article in a two-part series that will discuss insights from COP28. In this first part, we will discuss insights from the fifth EY Climate Risk Barometer covering current trends in global climate risk reporting, uneven progress within markets and sectors, the adoption of mandatory climate disclosure requirements, and core elements that will shape the reporting landscape.

TRENDS IN CLIMATE RISK REPORTING
The fifth EY Climate Risk Barometer reveals that companies are making progress in climate-related disclosures but fall short of carbon ambitions. This study analyzed 1,500 companies in 51 countries based on two metrics: the number of disclosures made per the recommendations by the Task Force on Climate-Related Financial Disclosures or TCFD (coverage) and the extent and detail of each disclosure (quality).

Climate transparency is clearly on the rise, with the quality score jumping from 44% in 2022 to 50% in 2023. This trend suggests that companies are putting in the time and effort to enhance the information shared with stakeholders. However, the 50% score reflects minimal advances, considering the TCFD has been around for eight years, which some may say has already been ample time for companies to fine-tune their reporting.

Alongside the increase in quality, disclosure coverage saw a steep year-on-year increase. Company scores soared from 84% to 90%. Yet, pressing concerns remain, particularly about the granularity and quality of disclosures and the effectiveness of the regulatory environment in driving genuine action beyond reporting.

Meanwhile, the average score for governance disclosure quality climbed from 46% to 52%, partly due to regulatory pressure — but this is still low. Transition planning remains patchy, with only half of the companies (53%) presenting clear roadmaps. Furthermore, companies continue to focus more on risk than opportunity analysis (77% vs. 68%) despite a slight improvement in the latter.

UNEVEN PROGRESS WITHIN MARKETS AND SECTORS
From a market perspective, Japan, South Korea, the Americas, and most of Europe are leading in disclosure quality. This is unsurprising as these countries and regions can draw on several years of mandatory TCFD disclosures.

On the other hand, while the Middle East and Southeast Asia have made strides in disclosure performance compared to last year, these regions are still lagging. To accelerate progress, governments can adopt mandatory climate disclosure requirements. This can potentially change the currently low scores to a significant extent.

Sector-wise, companies with the most exposure to transition risk dominated disclosure scores again. Energy leads in both quality and coverage, but its quality performance is greatly matched by financial institutions (e.g., credit bureaus, exchanges, and financial services providers) with a 46% to 54% year-on-year leap. In fact, this year saw changes in quality across the board, with the biggest ones in information technology (IT), real estate, mining, and agriculture.

Companies across all sectors face heightened demand for detailed disclosures of their climate-related risks alongside financial implications. This pressure comes from government regulators, investors, and the public. As such, the shift in scores is linked to stakeholders, putting pressure on businesses heavily reliant on fossil fuels to lay down their decarbonization plans and start making progress. In the case of financial institutions, investors are urging them to reduce their brown lending.

This is good pressure, however, as climate risk management strategies must not be separate from corporate reporting. Businesses must view climate disclosures as a comprehensive, forward-looking effort to understand the anticipated financial impact. Therefore, it should be assessed in the context of the company’s value chain and wider market dynamics.

IFRS S1 AND S2
It is worth noting that many companies are embracing comprehensive sustainability reporting frameworks like the Global Reporting Initiative (GRI) Standards alongside the International Sustainability Standards Board (ISSB) disclosure requirements — the IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information and IFRS S2 Climate-related Disclosures. These standards unveil material climate risks and opportunities, allowing investors, lenders, and creditors to assess companies’ governance, strategy, environmental, and societal impacts.

The ISSB offers “transition reliefs” to help companies ease into new sustainability reporting standards. In the first year, companies can prioritize and report only climate-related information and publish disclosures together with their half-year report. They can also hold off disclosing their Scope 3 greenhouse gas emissions, a report that uncovers climate exposure within their value chains.

In this country, the Board of Accountancy (BoA) is laying the groundwork for the adoption of the ISSB disclosure standards with Resolution No. 44. The date of adoption is being determined by the BoA, the Securities and Exchange Commission (SEC), and Financial and Sustainability Reporting Standards Council (FSRSC) — previously known as the Financial Reporting Standards Council. To ensure smooth implementation and evaluation, the FSRSC established the Philippine Sustainability Reporting Committee (PSRC), which is set to issue local interpretation and guidance for IFRS S1 and S2.

3 ELEMENTS AFFECTING FUTURE CLIMATE DISCLOSURES
In addition to companies’ disclosure performance against TCFD recommendations, this year’s research also included three core elements that will shape the reporting landscape for the next few years. These are:

ISSB preparedness. This refers to the readiness to meet IFRS S2 requirements, marked by changes in 1) Governance: adopting the increased ISSB disclosure requirement and disclosing whether organizations have the necessary skills at the board level to oversee climate-related strategies; 2) Strategy: deepening climate disclosures, both by analyzing detailed scenarios for future impacts and setting value chain emission targets alongside overall emission reduction goals; and 3) Metrics and targets: moving towards disclosing businesses’ most significant Scope 3 emissions.

Transition planning. This refers to the move to include concrete transition plans — how companies will adapt and grow as the global economy transitions to net zero — in their business strategy and disclose the details to stakeholders.

Climate risk reflection in financial statements. This refers to the integration of climate risks into financial statements, quantifying potential losses from stranded assets and valuing assets based on their resilience to climate change.

FROM A COMPLIANCE BURDEN TO A STRATEGIC ASSET
It’s time to view climate risk reporting as a strategic resource instead of a compliance burden. Instead of using frameworks solely for disclosure, forward-thinking organizations analyze how climate impacts their business strategy. High-risk businesses, such as those in energy and IT, can evaluate risk management and financial impact using these insights to chart resilient growth strategies and identify key vulnerabilities.

By establishing robust data governance structures, they turn climate data into a potent tool that will help them thrive in the face of climate challenges. When companies embrace the spirit of reporting frameworks to drive underlying business changes, they realize financial, customer, employee, societal, and planetary value from the effort.

The next article in this series will discuss strategies from the Ernst & Young (EY) keynote session at COP28. Philippine companies should consider these urgently to move from setting ambitious goals to achieving tangible results that will shape the country’s reporting landscape for the next few years.

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 author and do not necessarily represent the views of SGV & Co.

 

Benjamin N. Villacorte is a climate change and sustainability services partner of SGV & Co. and the chairman of the Philippine Sustainability Reporting Committee.

Stroud makes history as Texans win wild-card game vs Browns

C.J. STROUD threw for three touchdowns, Steven Nelson and Christian Harris each had a pick-6 and the host Houston Texans rolled to a 45-14 victory over the Cleveland Browns on Saturday in an American Football Conference (AFC) wild-card game.

Mr. Stroud completed 16 of 21 passes for 274 yards as Houston won in the postseason for the first time since Jan. 4, 2020.

Mr. Stroud (22 years, 102 days) became the youngest quarterback to win a playoff game, surpassing Michael Vick. “To see a young guy go out there, keep his composure, it kind of instills faith in everybody else as well,” Mr. Harris said of Mr. Stroud’s impact on the team in a postgame interview with NBC.

Nico Collins had six catches for 96 yards and a touchdown for the Texans (11-7), who rattled off 35 unanswered points after Cleveland’s Kareem Hunt caught an 11-yard touchdown pass with 12:18 left in the second quarter.

Mr. Nelson and Mr. Harris effectively sealed the victory, with Nelson taking his interception 82 yards to the end zone to give Houston a 31-14 cushion with 6:05 remaining in the third quarter.

The Browns’ offense came back out on the field and ran three plays before Joe Flacco was picked off by Mr. Harris, who darted 36 yards to the promised land to make it a 24-point game.

Devin Singletary extinguished any chance of a comeback when he rushed for a 19-yard TD to make it 45-14 early in the fourth. Singletary racked up 66 yards on 13 carries.

Mr. Flacco finished with 307 yards, a TD and the two interceptions on 34-for-46 passing. Hunt had a pair of touchdowns (one rushing, one receiving), and David Njoku hauled in seven receptions for 93 yards.

Cleveland (11-7) was outgained 356-324.

It marked the end of a campaign filled with adversity for the Browns, who lost star playmakers Nick Chubb (knee) and Deshaun Watson (shoulder) to season-ending injuries well before the team’s playoff push.

As a replacement for Mr. Watson, Cleveland brought in Mr. Flacco, who went 4-1 in five regular-season starts.

“I was so fortunate to become a part of this team. It’s a special group,” Mr. Flacco said. “Listen, this is why we love football. This is why we love NFL playoffs. It’s 14 really good football teams, and it’s one game. … There’s always a winner and a loser, and (Saturday), like I said, unfortunately for us, we were the loser.”

Just 18 seconds after Mr. Hunt brought in his 11-yard score, Stroud hit Brevin Jordan in the flat, and Mr. Jordan did the rest, sprinting 76 yards up the right sideline to give the Texans a 17-14 edge with 12 minutes to go until halftime.

Mr. Stroud later capped his strong first half with a 37-yard scoring strike to Dalton Schultz with 1:11 left, allowing the Texans to take a 24-14 advantage into the break.

Houston’s Ka’imi Fairbairn opened the scoring with a 21-yard field goal with 5:29 remaining in the first quarter before the teams traded touchdowns.

Mr. Hunt’s 1-yard scoring plunge with 2:09 left in the first briefly put Cleveland ahead 7-3, but just 1:58 later, Mr. Stroud’s 15-yard scoring strike to Mr. Collins made it 10-7. — Reuters

Lipa City launches Barako Golf tourney

THE INAUGURAL LIPA CITY FIESTA BARAKO GOLF, a new team tournament coinciding with the fiesta of the city, was officially launched Saturday through a media conference held at the Summit Point Golf and Country Club. The two-day tournament on Jan. 17-18 promises to be as exciting as the other team championships in the Philippines. Shown in the photo are City Mayor Eric Africa (middle) with tournament chairman Raul Montealto, Summit Point President Robbie Leviste, Lian Vice Mayor Ronin Leviste, Mount Malarayat Golf and Country Club General Manager Romeo Garcia, Summit Point General Manager Vic de Guzman and head rules official Bong Igaya.

KAPENG barako, Batangas lomi and goto, bulalo, tawilis and now a golf tournament.

A new staple is on the horizon in Batangas with Lipa City launching its inaugural Lipa City Fiesta Barako Golf Tournament in a bid to stamp its class as one of the country’s top golf destinations.

Coinciding with the city’s fiesta, Lipa will hold a two-day tilt on Jan. 17 to 18 at the Summit Point and Mount Malarayat Golf and Country Clubs to cap its week-long celebration that started with the press conference over the weekend.

The first-ever golf joust in Lipa has already lured over 70 teams of four players each nationwide, including female players and teams that will not have a separate division for the first time in any tournament here.

Waiting for them are two majestic courses in Lipa City that will serve as hosts with the scenic Mount Malarayat serving as backdrops as the best amateur golfers swing their stuff into the undulating fairways.

For Lipa, it’s a golden opportunity to promote sports and tourism all in one.

Barako Golf will showcase some of the country’s top golfers led by Abe Rosal and Abe Avena along with the best clubs featuring Team Wack Wack and Riviera among the few. Clubs from Butuan, Tacloban and Eastern Samar are also in.

Summit Point — which finished second to Manila Southwoods in Fil-Am Invitationals and boasts holes inspired by the renowned courses of St. Andrews, Pebble Beach, Augusta National and Cypress Point — and Mt. Malarayat vowed to give the visitors a run for their own money. — John Bryan Ulanday

Asia All-Stars blast Rising Stars in Japan All-Star Game

POWERED by Filipino imports, the Asia All-Stars drubbed the Rising Stars, 127-115, in the Japan B. League All-Star Game over the weekend at the Okinawa Arena.

Carl Tamayo, from the B. League reigning champion Ryukyu Golden Kings, scored 18 points highlighted by the game-sealing slam as the Philippines-led Asia All-Stars reasserted mastery of the B. League’s budding local cagers.

The Asia All-Stars scored a close 118-114 win over the Japanese players last year.

Twin towers Kai Sotto of the Yokohama B-Corsairs and Greg Slaughter of the Rising Zephyr Fukuoka added nine points each while Kyoto Hannaryz’s Matthew Wright and Yamagata Wyverns’ Roosevelt Adams had eight apiece.

Shinshu Brave Warriors’ RJ Abarientos chipped in five points and 10 assists, Nagoya Diamond Dolphins’ Ray Parks added seven, Shiga Laketstars’ Kiefer with six while Thirdy Ravena contributed five including a couple of roaring dunks.

Team captain Dwight Ramos, a mainstay in the Gilas Pilipinas program, added six points as Chinese Lui Chuanxing (15) of Altiri Chiba and Korean Lee Daesung (11) of the Seahorses Mikawa backstopped Mr. Tamayo in twin digits.

Yokohama’s Kai King topped the B. League Rising Stars with 30 points. — John Bryan Ulanday

MCFASolver eyes first back-to-back win for guest team in PBA 3×3

MCFASolver sets out to become the first guest team to win back-to-back in the PBA 3×3 as Leg 3 of the Season 3 Third Conference fires off today at the Ayala Malls Fairview Terraces.

Pull this off and the Tech Centrale will also move out of a tie with the disbanded J&T Express for the most leg victories for a guest squad. Counting its breakthrough in Leg 4 of the previous conference, MCFASolver owns two so far and shares the honors with the disbanded J&T Express, which reigned supreme twice in Season 2 – Leg 2 of the Second Conference and Leg 6 of the Third Conference.

The Tech Centrale reassembled Brandon Ramirez, TH Tumalip, Louie Vigil and Yutien Andrada after their triumph over San Miguel Beer in the Leg 2 finale.

The Anton Altamirano-coached MCFASolver takes the first step in Pool A against Purefoods and multi-titled TNT, which is out for redemption after a pair of disappointing seventh place finishes.

Denied of the Leg 2 gold, San Miguel Beer’s Ken Bono, Pao Javelona, John Apacible and John Paul Sarao try to go all the way this time. The Beermen are grouped with Leg 1 ruler Meralco, Terrafirma and Barangay Ginebra in Pool B.

Cavitex, twice third-placers in the conference, vies in Pool C against Blackwater, NorthPort and Pioneer Elastoseal.

The combatants are gunning for Top 2 in Pool A and Top 3 in Pools B and C to qualify for today’s knockout stages. — Olmin Leyba

1...2,3562,3572,358...12,801Page 2,357 of 12,801
© 2024 BusinessWorld Publishing.
All rights reserved.
Read our privacy guidelines
Facebook Instagram Linkedin Twitter Youtube