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Economic managers at risk of being bypassed by Palace advisor

FREDERICK D. GO —PHILSTAR FILE PHOTO

By Kyle Aristophere T. Atienza, Reporter

ECONOMISTS have expressed concern over the creation of a new special-advisor office whose head will hold Cabinet rank, citing the possible sidelining of other economic managers.

The new office is a “redundancy” and “smothers the leading roles” of the Department of Finance (DoF), National Economic and Development Authority (NEDA), and the Trade department, according to Filomeno Sta. Ana, coordinator at Action for Economic Reforms.

“The executive order (EO) is a public humiliation of our economic managers and our institutions,” he said via Messenger chat.

Frederick D. Go, the former president and chief executive officer of Robinsons Land Corp. (RLC), has been named to head the Office of the Special Assistant to the President for Investment and Economic Affairs (OSAPIEA), which was created via an Executive Order issued Dec. 15.

RLC on Wednesday formally announced the acceptance of Mr. Go’s resignation from his executive and board posts.

In his EO, Mr. Marcos cited the need to establish “a robust monitoring system to ensure a holistic and cohesive approach to addressing the diverse economic challenges currently confronting the nation.”

Mr. Go is tasked with advising the President on economic matters and concerns, including, among others, the increasing prices of key commodities.

OSAPIEA will also be responsible for following up on investment pledges obtained during overseas missions.

Prior to becoming Special Assistant to the President, Mr. Go held the title of Presidential Adviser on Investment and Economic Affairs.

The Secretary of Finance formerly oversaw the Economic Development Group, but following EO No. 49, Finance Secretary Benjamin E. Diokno has been relegated to vice chair, serving alongside NEDA Secretary Arsenio M. Balisacan.

“The creation of this office is unnecessary; it is a clear political accommodation at the behest of the President,” Gary Ador Dionisio, dean of the De La Salle – College of Saint Benilde School of Diplomacy and Governance said.

“The appointment also somehow weakens the trust and confidence of the President in his alter egos in the various departments,” he said via Messenger chat.

As chairman of the EDG, Mr. Go will have the authority to coordinate the activities of the NEDA, the DoF, the DTI, and the Department of Budget and Management, as well as of economic agencies attached to these departments such as the Board of Investments, Philippine Economic Zone Authority, and Securities and Exchange Commission.

“The said agencies are required to regularly report and coordinate with the SAPIEA on priority initiatives and programs, activities, and projects,” the Presidential Communications Office said on Monday.

In his new position, Mr. Go will also sit as a member of the NEDA Board, Investment Coordination Committee, Social Development Committee, Committee on Infrastructure, and Development Budget Coordination Committee.

Randy P. Tuaño, dean of the Ateneo School of Government, said such an appointment is not unprecedented, with several former chief executives appointing coordinating secretaries to supervise specific Cabinet departments.

During the administration of the late Corazon C. Aquino, coordinating secretaries oversaw economic policy, political affairs and social policy, he added.

While noting that the new office might duplicate some of the functions of NEDA, which is itself a coordinating agency, Mr. Tuaño said some countries have made it a practice to appoint coordinating secretaries.

He cited the Indonesian cabinet system, which features ministries like the coordinating ministry for economic affairs.

“But if the role mainly is to represent the President, given that the function is a public/governmental function, then clearly that person should not have overt private interests,” he said.

Leonardo A. Lanzona, who teaches economics at the Ateneo de Manila, expressed concern that the new office was created via EO and not legislation.

Legislation would have been the better route “given that (the new office) has broad coverage encompassing several departments and agencies,” he said via Messenger chat.

Going through Congress would have ensured that its functions are “defined and authorized by law,” he said. “Legislative creation often involves a more comprehensive and deliberative process, with inputs from lawmakers and public scrutiny.”

Mr. Lanzona said unlike the NEDA, which deals with both the productivity and equity goals of society, the new investment office is “all about money.”

“Hence, it makes it rational to appoint a CEO from the private sector to head it, but the outcomes are not necessarily socially optimal.”

Terry L. Ridon, a public investment analyst and convenor of InfraWatch PH, believes the new post will not overlap with the functions of major economic agencies.

“The agencies will still implement their respective programs and activities but will now require the strategic direction and guidance of Secretary Go on the most important economic and investment concerns,” he said via Messenger chat.

“Essentially, Mr. Go now heads President Marcos’ economic team,” he added.

Mr. Ridon cited parallels with the Private Sector Advisory Council, whose members do not work full-time and retain their high-level executive positions in the private sector.

“Given Secretary Go’s reputation for integrity, we are confident that he will immediately recuse himself on matters with clear conflicts of interest,” Mr. Ridon said.

Last week, Mr. Go said the Philippines is working to secure a “respectable” share of firms moving out of China, particularly in the semiconductor industry, noting that the government’s “catch-up plan” seeks to realize the Philippines’ “untapped” export potential of $49 billion.

Mr. Go said he will pay special attention to the electronics industry, which accounts for 60% of exports.

“There is a pivot now away from China by a lot of the Western as well as the Asian countries and a lot of the attention is now going to our neighbors such as Thailand, Indonesia, and Vietnam,” he was quoted as saying in a statement issued after a general meeting of the Philippine Exporters Confederation, Inc.

Mr. Go said the Philippines is also seeking to benefit from the expansion of nickel processing market amid a shift to electronic vehicles.

The Philippines needs to capture more of the nickel value chain by processing the ore domestically rather than exporting ore.

PPP Center to promote LGU infra projects

PPP.GOV.PH

THE Public-Private Partnership (PPP) Center and the Union of Local Authorities in the Philippines (ULAP) have entered into a partnership to support local government units (LGUs) pursuing infrastructure projects.

In a statement, the PPP Center said it signed a memorandum of agreement (MoA) with ULAP on Dec. 5 to “forge a stronger collaboration in promoting well-structured and financially viable infrastructure projects through PPPs.” 

“The signed MoA aims to provide a framework for cooperation and coordination, with the goal of developing a robust pipeline of PPP projects for the member-LGUs of ULAP,” it added.

To boost economic development in the regions, the PPP Center said it will help local governments develop bankable and economically viable projects.

“The Center will continue to assist ULAP’s constituent members in building their capacity to develop and implement PPP projects,” it added.

The recently signed PPP Code is also expected to help bring in more “high-impact” PPPs to the regions, it added.

Earlier this month, President Ferdinand R. Marcos, Jr. signed the measure, which streamlines the framework for PPPs.

The PPP Code amends the Build-Operate-Transfer Law and creates a unified legal framework for all PPPs at both national and local levels. — Luisa Maria Jacinta C. Jocson

NDC in tech assistance tie-up to support startup ‘greening’

THE National Development Co. (NDC), a government investment arm, said it has signed an agreement with the Global Green Growth Institute (GGGI) to support the green transition of small businesses.

Under the memorandum of understanding (MoU), GGGI — a treaty-based international, inter-governmental organization — will provide technical vocational education training, technical assistance, and advice to Philippine micro, small- and medium-sized enterprises (MSMEs), particularly startups in the NDC investment pipeline.

“We want to support the Philippine government to identify the priorities,” GGGI Country Representative Marcel Silvius said at the signing ceremony on Wednesday.

He added that the GGGI is also aware that Philippine companies need to be given latitude and time to become more environmentally compliant.

The GGGI aims to foster sustainable economic growth in developing nations and emerging economies. It offers non-financial grants and provides technical and expert financial advice in waste management, recycling, and achieving circular-economy norms.

Under the MoU, once the trained startups mature to commercial viability and qualify for scaling and expansion, they will be endorsed to the NDC for possible equity investment.

NDC General Manager Antonilo D.C. Mauricio said that the partnership aims to help with environmental, social, and governance (ESG) compliance efforts.

“The environment is part of the priority investment areas of NDC, along with health, technology and construction … We are looking at GGGI to explore synergies with us for the pipeline of companies in the green sector (that could) be funded in the earlier stages,” Mr. Mauricio said.

According to Mr. Mauricio, the NDC and GGGI are aiming to build potential parallel ESG funding for early-stage companies, help MSMEs and startups in the calculation of their carbon offset, and establishing a carbon-credit trading mechanism.

“The MoU signing marked a key opportunity for NDC to tap into the technical expertise and assistance that could be offered by GGGI — with an overall thrust for signing — on more green-based startups,” the NDC said. — Justine Irish D. Tabile

Supermarket industry sees dev’t of industry as key to stable prices

A supermarket is seen in Quezon City, March 4 2022. — PHILIPPINE STAR/MICHAEL VARCAS

A SUPERMARKET industry association said the National Government must develop the industrial sector to address unstable food prices.

In a statement, Steven L. Cua, president of the Philippine Amalgamated Supermarkets Association, said the growth of domestic industry will head off unemployment, ensure stable prices, and keep goods affordable.

With rising prices, “the nation is now facing ‘shrinkflation’ (as) retailers cater to the smaller budgets of consumers (by offering products with reduced content),” Mr. Cua said.

In a survey presented by Capstone-Intel Corp. at a media forum, six out of 10 respondents expect to be food-secure over the next six months.

The survey also concluded that 46% of households spend P1,001-P2,500 on food weekly, and that rising food costs could put more households in financial distress.

“Stability in food costs is critical for family budgeting nationwide. Persistently elevated food inflation could rapidly push more households into financial distress without mechanisms to offset price pressures on key dietary necessities,” Capstone-Intel Research and Publications Director Ella Kristina Domingo-Coronel said.

Mr. Cua said unemployment will rise if the National Government fails to address pressing food insecurity by supporting domestic industry.

“Either we have to come up with new brands or a lot of foreigners come in with their brands. That will lead to another surge of unemployment,” he said.

“We have to think of our own. We have to develop our industries if 20 years from now we want to see a brighter future,” he added.

Mr. Cua wants to see a drop in inflation consistent with falling food prices.

Capstone-Intel said its survey indicates that 59% of its respondents describe themselves as “very secure” or “secure” in terms of food for the next six months.

Meanwhile, 42% said that they have some concerns with 34% saying they are neither secure or insecure and 8% “insecure” or “very insecure.” — Justine Irish D. Tabile

PHL 2024 growth forecast maintained at 5.6% — ANZ Research

BW FILE PHOTO

ANZ RESEARCH maintained its 5.6% gross domestic product growth forecast for the Philippines, citing the dampening effects of slowing bank lending and manufacturing sales.

“High-frequency data, such as waning credit growth and manufacturing sales, weaker consumer confidence and limited capacity expansion plans validate our view,” it said in its Asia Economic Outlook.

In November, manufacturing output, as measured by the volume of production index (VoPI), rose 1.7% year on year in October, according to preliminary results of the Monthly Integrated Survey of Selected Industries.

This was much weaker than the 6.7% increase in October 2022 and the 9.9% logged in September. It also marked the weakest reading for manufacturing’ growth since the 0.04% decline in June 2022.

On a month-on-month basis, the manufacturing sector’s VoPI contracted 4.1%, a reversal of the 1.5% posted in the previous month.

Year to date, average factory output growth stood at 5.6%, slower than 17.5% in the same period in 2022.

Meanwhile, the S&P Global Philippines Manufacturing Purchasing Managers’ Index (PMI) rose to 52.7 in November from 52.4 in October, indicating an improvement in forward orders for materials to be processed later, the strongest reading since February.

A PMI reading above the 50 mark denotes greater anticipated business activity, while a reading below 50 signals deterioration.

Outstanding loans by big banks rose 7.1% year on year to $11.3 trillion in October.

October credit growth was stronger than the 6.5% expansion seen in September, marking the fastest rise in bank lending since the 7.2% seen in August.

On a month-on-month basis, outstanding universal and commercial bank loans rose 1.4%.

The Philippine growth forecast for 2023 had been raised to 5.2% from 5% in September. However, ANZ Research lowered its forecast for 2025 to 5.9% from 6%.

ANZ Research’s forecasts for 2023, 2024, and 2025 are all below the government’s recently adjusted forecasts of 6-7%, 6.5-7.5%, and 6.5-8%, respectively.

ANZ Research also maintained its 6% and 3.5% outlook for 2023 and 2024 inflation, respectively, despite recent easing in the indicator in the last two months.

“The moderation in October and November headline inflation brought about some relief after two months of renewed price pressures. We expect consumer prices to fall back below 4% year on year by early Q1,” it said.

In November, headline inflation slowed to 4.1% from 4.9% in October, the 20th straight breach of the BSP’s 2-4% target. Year to date, inflation averaged 6.2%.

“However, sustaining it below 4% could be a challenge as dry weather conditions could push food prices higher. Food constitutes 34.8% of the CPI (consumer price index) basket. The double-digit rise in rice prices in September, despite the implementation of price ceilings, highlights the need for more effective domestic price control measures,” ANZ Research noted. — Aaron Michael C. Sy

Further energy-conservation calls go out as El Niño sets in

PHILSTAR FILE PHOTO

THE Department of Energy (DoE) said households and the business sector need to do their part in conserving energy and accelerating their energy efficiency in response to El Niño.

“We need the support of everyone, and must therefore be conscious in our use of electricity,” Energy Secretary Raphael P.M. Lotilla said in a statement on Wednesday.

President Ferdinand R. Marcos, Jr. has asked the public to create a culture of responsible usage of electricity “as power supply projections may still change, even if we have adequate projections” due to the dry spells expected at the height of El Niño.

PAGASA (Philippine Atmospheric, Geophysical and Astronomical Services Administration), the government weather service, forecasts a moderate El Niño, possibly intensifying in the coming months.

Mr. Lotilla said that the DoE’s executive committee and agencies agreed to map out vital infrastructure that could be affected by the shortage of electricity.

These include hospitals, blood banks, banks, and water pumping stations.

“In the case of the health sector, while the Department of Health will be providing generator sets for government hospitals, there are also hospitals maintained by provinces and local government units. The local governments could help us identify these critical facilities for efficient intervention,” Mr. Lotilla said.

Separately, Mr. Lotilla said the action taken by the Bangko Sentral ng Pilipinas (BSP) allowing banks to expand financing for sustainable energy projects will attract investment.

“These would entail big investments where private sector funds, including equity investments, green bonds or loans will be needed. We are therefore pleased with this development noting that clean energy investments over the next decade will be carried out by the private developers,” he said.

In a statement over the weekend, the BSP said it approved a 15% increase in the single-borrower limit on loans for eligible green or sustainable projects.

The central bank noted the projects should be compliant with environmental laws.

Meanwhile, Mr. Lotilla also welcomed a Board of Investments decision to offer income tax holidays for own-use renewable energy and energy efficiency projects, as well as duty exemptions on imports of capital equipment, raw materials, spare parts, or accessories.

“This would certainly aid energy efficient projects which will ultimately redound to the benefit of consumers. The tax incentives will result in increased economic activity and the potential to generate more jobs,” Mr. Lotilla said. — Sheldeen Joy Talavera

4 new Maharlika directors sworn in

FOUR new directors of the Maharlika Investment Corp. (MIC) were sworn in at Malacañang on Wednesday, the Presidential Communications Office said.

In a statement, the Palace said the new directors are Vicky Castillo L. Tan, a former Asian Development Bank director; Andrew Jerome T. Gan, Singapore advisor for Picfel & Cle, Banquiers and a former Globe Land Development Corp. managing director; German Q. Lichauco of Orca Energy, Inc., a lawyer, and Roman Felipe S. Reyes, Radio Philippines Network, Inc. (RPN-9) and Converge ICT Solutions, Inc. director.

Last month, President Ferdinand R. Marcos, Jr. appointed Rafael D. Consing, Jr., chief executive officer and president of the MIC.

The government is counting on the MIC to be fully operational by the end of the year. — John Victor D. Ordoñez

Congressional think tank questions need for carbon tax, citing low PHL emission levels

PHILSTAR FILE PHOTO

THE PHILIPPINES may not need to impose a carbon tax due to its low emission levels, a policy think tank attached to the House of Representatives said.

“The Philippines produces relatively little carbon dioxide — whether it is compared to developed countries or its ASEAN (Association of Southeast Asian) neighbors. This, in turn, puts into question the supposed necessity and urgency of instituting a carbon tax in the Philippines,” the Congressional Policy and Budget Research Department (CPBRD) said in a report. 

Philippine carbon dioxide emissions are significantly lower compared to other Southeast Asian countries, the CPBRD said, citing data from the Emissions Database for Global Atmospheric Research.

It emitted 148 million metric tons (MT) of carbon dioxide in 2021, compared to Malaysia (251.55 million MT) and Indonesia (602.59 million MT).

The CPBRD noted, however, that Indonesia’s population is twice that of the Philippines.

It also said that Malaysia, which has a population of 34 million, produces thrice the carbon dioxide on a per-capita basis. “This, in turn, underlines the energy poverty of Filipinos — even in comparison to their ASEAN neighbors,” the CPBRD said.

The think tank added that a 5% loss from imposing a carbon tax on electricity as well as land, air and water transport would mean a total economic loss of P236.7 billion, or roughly 1.1% of gross domestic product.

“If a carbon tax is intended to be the primary regulatory strategy to prevent further increases in overall carbon emissions, then its rate has to be sufficiently large to reduce demand for carbon-emitting activities by the aforementioned amount,” the CPBRD said.

It also said that the Philippine economy is still “wholly incapable of efficiently and painlessly transitioning to a low-carbon trajectory,” given its heavily reliance on fossil fuels and slow transition to renewables.

“Solar and wind resources account for a tiny fraction of electricity supply — despite billions spent in subsidies. The aggressive expansion of renewable assets also demands the conversion of agricultural land into solar and/or wind farms, further aggravating existing agricultural productivity woes,” the CPBRD said in its report. 

It also said that an “energy-poor” country like the Philippines would struggle to develop its industries if a carbon tax is imposed.

“The modernization of flagging agricultural and manufacturing sectors, in particular, demand the widespread adoption of energy-intensive production processes,” the CPBRD said. 

Carbon taxes in the Philippines could generate revenue of up to $7 billion by 2030, according to a study by the International Monetary Fund.

The Philippines emitted about 146.5 million tons of carbon dioxide from energy consumption in 2022, the Energy Development Corp. has estimated.

The Philippines has committed to reduce its greenhouse gas emissions by 75% by 2030.

Climate change could cut Philippine economic output by 13.6% by 2040, the World Bank said in a report last year. — Beatriz Marie D. Cruz

Unified PPP Framework

In 1990, Republic Act (RA) No. 6957 or the Build-Operate-and-Transfer (BOT) Law institutionalized the private sector’s participation in financing and developing government infrastructure projects. For the last decade, the BOT Law and its Implementing Rules and Regulations (IRR), the National Economic and Development Authority (NEDA) Joint Venture (JV) Guidelines, PPP Codes of Local Government Units (LGUs), and issuances from the PPP Governing Board made up the overall regulatory framework for PPP. The constantly evolving infrastructure sector called for amendments to the BOT IRR in 2006 and in 2012, and then twice in 2022. On April 25, the 2023 NEDA JV Guidelines were released a decade after its previous version took effect. On the local level, LGUs are championing their own PPP/JV Codes.

This momentum pushed our legislators to consolidate all the rules into one law. And so on Dec. 5, the Public-Private Partnership Code of the Philippines (RA 11966) was signed into law and took effect yesterday, Dec. 20.

PPP DEFINED
PPP, while inferred from the modalities in the BOT Law, was never specifically defined. Finally, Section 3 (cc) of the PPP Code defined PPP as any public infrastructure or development project and service implemented under the law. This must be read in conjunction with Section 4 which expounds on the covered projects of the law, namely: “contractual arrangements between an Implementing Agency and a Private Partner to finance, design, construct, operate, and maintain, or any combination or variation thereof, infrastructure or development projects and services which are typically provided by the public sector, where each party shares in the associated risks.”

Aside from the straightforward definition, the law enumerates arrangements which qualify as PPP: (a) JVs; (b) toll operation agreements; (c) lease agreements involving participation of a private partner in an existing land or facility owned by the government; (d) lease agreements as components of a PPP project; and (e) all other arrangements akin to PPP.

Clearly, it is a one-stop shop for all your PPP needs.

THRESHOLDS AND APPROVERS
The law updated the approval thresholds for national and local PPP projects.

For projects costing at least P15 billion, the NEDA Board is now the designated approver, on the recommendation of the NEDA Board-Investment Coordination Committee (NEDA ICC). For projects below P15 billion, the head of the Implementing Agency or the NEDA Board-ICC may approve depending on the circumstances.

Meanwhile, LGUs are given authority to approve local PPP projects within their jurisdiction, as such projects only require approval of the legislative bodies of LGUs to proceed to tender, unless such projects require financial undertakings by the National Government or they physically overlap with another approved government project. Thus, this eliminates the need for LGUs to structure projects as JVs just to avoid the tedious approval process of the NEDA ICC.

BEST MANDATES, ONE LAW
Years of experience paved the way for best practices to ripen into law. The PPP Code takes the best provisions from the BOT Law, NEDA JV Guidelines, and further assimilates them, namely, (a) risk management fund (RMF); (b) alternative dispute resolution; (c) contract management and risk mitigation; (d) procurement of independent consultants; and (d) public disclosure of tender documents and PPP contracts.

Zeroing in on RMF, the law distinguishes between the National PPP RMF and the Local PPP RMF. While both serve as payment for contingent liabilities arising from PPPs in accordance with its terms, the National PPP RMF is to be managed by the PPPC while the Local PPP RMF is subject to the guidelines of the PPP Governing Board of the LGU.

The PPP Center (PPPC), which is the government agency tasked with facilitating the growth of PPPs, can now draft policy opinions and issue non-policy opinions on PPP matters. This is especially beneficial as key players often seek clarification on PPPs from the agency.

The law also adopted new concepts such as the claw-back provision on excessive returns, streamlined processes for unsolicited proposals, green financing, and land value capture strategies, among others.

EFFECT ON THE STATUS QUO
What happens now to the existing contracts or upcoming PPP projects?

• Existing contracts will be governed by their respective agreements. The PPP law applies in a suppletorily manner only if no rights are infringed upon.

• PPP projects with notices of award but with no executed contracts on or before Dec. 20 will be governed by the new law only if no rights are infringed upon.

• Solicited PPP Projects which have commenced bidding or Unsolicited Proposals which have commenced with the Swiss Challenge stage (also known as the comparative bidding process) will be governed by the Act only if no rights are infringed upon; otherwise, the rules in effect at the commencement apply.

• Proposed PPP projects which are either pending approval or approved but have not undergone bidding or Swiss challenge will be governed by the Act except for the project approval provisions.

Several provisions of the law are not self-executing and will require an IRR before they become implementable. Under the law, the IRR will be promulgated within 90 calendar days from the effectivity of the Code. The IRR will further expedite procedures for PPP project approval, processing of unsolicited proposals, bid evaluations, protests, supervision and monitoring of PPP projects, and setting the reasonable rate of return. The IRR will also provide a list of government undertakings that may be granted to a PPP project.

With the administration’s focus on building more (and better) infrastructure, the PPP Code must embody practices that fulfill the demands of this fast-moving sector. Indeed, the new law will balance all interests with the welfare of the people (the ultimate end-users) as a compass.

The views or opinions expressed in this article are solely those of the author and do not necessarily represent those of Isla Lipana & Co. The content is for general information purposes only, and should not be used as a substitute for specific advice.

 

Joelle Mae Garcia is a senior associate at the Tax Services group of Isla Lipana & Co., the Philippine member firm of the PwC network.

joelle.mae.garcia@pwc.com

Karl Eldrew Yulo soars with seven golds in Batang Pinoy gymnastics

STILL RINGS

KARL ELDREW YULO of Manila zoomed to the top as the most bemedaled athlete so far with seven golds as defending champion Baguio City claimed the medal race lead halfway through the 2023 Batang Pinoy national finals at the Rizal Memorial Sports Complex in Manila.

Baguio City, the three-time reigning champion, stabilized its bid for another national crown by leaning on the four-gold medal haul of taekwondo jins in the kyorugi event to snatch the race with 13 gold medals, seven silver and 22 bronze medals.

The Summer Capital of the Philippines started cool inside the Top 5 in the first two days before waxing hot in Day 3 as Joshua Aaron Erece (junior male fin), Chezka Nicolette Luzadas (cadet female 4th category), Rolyn Matthew Salay (cadet male 1st category) and Zash Khaine Mendoza (cadet 4th category) led the gold rush.

Aileen Amancio also threw in contribution by ruling the girls’ 13-15 age-group in arnis after the initial harvest of Aiden Eclipse (male 14-15), Edel Ali Pangayan Ngina  (male 16-17), Lara Czarina Langaoen (female 8-9), Lyre Anie Ngina (female 12-13) and Pathiel Eave Paus Dela Rosa (female 14-15) in muay thai wai kru in the first days.

Baguio wasn’t just about martial arts as it also made its mark in the opener of archery with Chass Mhaiven Nawew Colas winning the male 15-under 30-meter and 40-meter recurve for a quick dual-gold feat.

But the moment belonged to Mr. Yulo, who made the biggest leap — and the most perfect landing — with seven captivating golds in the men’s artistic gymnastics, just months after owning the Palarong Pambansa anew with a six-gold harvest.

Mr. Yulo, the brother of world champion Caloy, was head and shoulders above the competition in the boys’ FIG Juniors 14-17 category by reigning supreme in all the individual events of vault, still rings, floor exercise, high bar, parallel bar, pommel horse, and the individual all-around at GAP National Gymnastics Center in Intramuros.

A possible eighth gold medal is in play for Mr. Yulo as of press time pending the deliberation of the technical committee on the result of the team events with Manila as frontrunner.

Not to be left behind was Maria Celina Angela Gonzales of San Juan with four gold medals in the women’s artistic gymnastics (WAG) High Performance 1 with wins in the uneven bars, balance beam, floor exercise and individual all-around.

In cycling, Quezon City captured a double-gold in the boys and girls’ 14-15 individual time trial courtesy of Nathaniel Alvaro Aquino (23:41) and Maria Louisse Criselle Java Alejado (28:23.2)

Meanwhile, Pasig’s Arvin Naeem Taguinota became the most bemedaled tanker with another win in the boys’ 12-nder 100-meter backstroke, clocking in 1 minute and 5.63 seconds after his wins in the 200-meter individual medley, 50-meter backstroke and 200-meter relay.

In the medal race, Quezon City stayed at third with 10 golds, 7 silvers, 7 bronzes, and Pasig (8-10-16) lurked at No. 5. Davao City (10-9-8) and Muntinlupa (10-0-7) were steady at second and fourth, respectively. — John Bryan Ulanday

Swimmer Fernandez is first five-gold winner in PHL National Games

QUENDY FERNANDEZ

QUENDY FERNANDEZ of Puerto Princesa delivered a tsunami of a performance as she ruled the women’s 200-meter backstroke on Wednesday to emerge the first quintuple gold medal winner in the Philippine National Games at the PhilSports swimming pool in Pasig.

Riding high from a tidal wave-like four-gold haul in the first two days, the 18-year-old University of the Philippines star splashed her way to a fifth mint after she clocked two minutes and 29.52 seconds.

It was another spectacular swim for the reigning UAAP Rookie MVP after her earlier magnificence in the 50-meter and 100-meter back, 50-meter butterfly and 200-meter medley relay with Maglia Jay Dignadice, Pearl June Daganio and Cindy Fernandez.

She then dedicated her feats to the Palawan Swimming Club coach Toyskie Dalisay.

Lyka Catubig of Davao City claimed her second gold as she reigned supreme in the 5000-meter walk where she timed in 19:26.84 in centerpiece athletics in the nearby track oval.

It came two days after she stunned her more illustrious foes with a walk to remember in the 3000 meters.

Other track and field winners were the national team’s Junel Sergio Gobotia, (men’s steeplechase) and Evalyn Palabrica (women’s javelin), Naga’s Melquisedec Manto (men’s 5000 meters), and Bohol’s Diana Rysiamie Hurano (women’s long jump).

In chess at the GSIS Gymnasium, Dasmariñas’ Kylen Joy Mordido drew with Francois Marie Magpily in the seventh and final round to claim the women’s individual standard gold with 6.5 points.

The Woman Grandmaster candidate then took her second gold in the team standard event with Jerlyn Mae San Diego.

Over at the Manuel Roxas High School Gym, Zamboanga City’s Jerome Etang Negapatan pocketed a pair of mints in the men’s Wai Kru and Mai Muay.

Krystal Yvonne Malecdan of Baguio snared the women’s Wai Kru gold.

In arnis at the Ayala Malls in Paranaque, national team mainstays Rod Xhedrick Mendoza and Leslie Avila conquered the men and women non-traditional double weapon.

The other arnis victors were Valenzuela’s Ian Patrick Gurrobat and Lapu Lapu’s Jannalyn Ycoy in men and women traditional single weapon. — Joey Villar

European champion Manchester City outclasses Urawa Red Diamonds to reach Club World Cup finale

JEDDAH — Manchester City outclassed Urawa Red Diamonds in a 3-0 victory in the King Abdullah Sports City stadium on Tuesday to set up a Club World Cup final showdown against Brazilian side Fluminense.

European champions Man City was frustrated by a well-organized Japanese side during the opening half but took the lead with an own goal by Marius Hoibraten in stoppage time.

Mateo Kovacic made it 2-0 in the 52nd minute with his first goal since joining City from Chelsea and Bernardo Silva’s deflected shot a few minutes later meant City could play the rest of the game in cruise control.

Pep Guardiola’s City, who had won only three of its previous eight games in all competitions, is looking to become the fourth English club to win the title after Manchester United, Liverpool and Chelsea.

They will start as heavy favorites in Friday’s final against Copa Libertadores champions Fluminense which on Monday beat Egypt’s Al-Ahly 2-0.

“The players know how important it is for the club,” Guardiola, who won the title twice with Barcelona and once with Bayern Munich, said. “To be in this final, you have to do incredible things like win the Champions League. This may be the only time we play this in our lifetime.

“We will try to win the title we don’t have to complete the circle.”

City have suffered some domestic wobbles of late and have slipped off the pace in the Premier League in its quest for a fourth successive title.

But even with Erling Haaland still missing and Guardiola shuffling his pack after Saturday’s 2-2 draw with Crystal Palace, they had far too much for the J1 League side.

The Diamonds’ gameplan was obvious as they packed their defence and midfield to create a red wall in front of their goal and it worked well as City struggled to find openings.

Despite barely getting out of their own half they almost made it to halftime on level terms but were undone as Matheus Nunes finally found some space and his low cross was intercepted by Hoibraten who steered the ball into his own goal.

The game opened up in the second half with Diamonds showing a little more adventure but it made it easy for City.

Kovacic, twice a winner of the competition with Real Madrid and once with Chelsea, was sent clear and he surged away before smashing a shot high past Shusaku Nishikawa.

City wrapped it up when Nishikawa made a fine save but the ball fell to Bernardo Silva whose shot took a nick off Hoibraten and went just inside the post.

All that was left then for City was to make sure of a first clean sheet since Nov. 7.

Urawa Red Diamonds will face Al-Ahly in the third-placed playoff on Friday. — Reuters

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