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Demand for PEZA-registered buildings remains high

THE DEMAND for Philippine Economic Zone Authority- (PEZA) registered office buildings, especially those located in Bonifacio Global City (BGC), remain high despite the pandemic.

In a press release, Leechiu Property Consultants (LPC) said BGC buildings that are registered with the PEZA have a 4% vacancy rate, as compared with the 18% vacancy rate in other business districts.

Alpha Plus Property Holdings, Inc., owner of the 32-storey Ecoprime tower on the corner of 32nd and Ninth Avenue, is confident that the high vacancy in Metro Manila’s business districts will be “temporary.”

LPC executive director for Investment Sales Henry Cabrera said BGC now has the largest concentration of multinationals after they migrated to new buildings in Taguig such as Ecoprime, from older buildings in Makati.

“There are only two PEZA-accredited buildings in BGC available right now that can offer 10,000 square meters (sq.m.) or more of contiguous space, and Ecoprime is one of them,” he said in a statement.

Ecoprime offers 15,000 sq.m. of contiguous space suitable for large tenants, attractive business destinations.

“BGC has limited new office space supply coming in the next three years and demand will continue to grow as we recover from the pandemic,” Mr. Cabrera said.

Azkals end U23 campaign with 2-1 win over Brunei

PHILIPPINES defeats Brunei, 2-1, in Phnom Penh, Cambodia. — PFF

THE Philippines edged Brunei, 2-1, to give its Asean Football Federation Under-23 (U23) Championship campaign a bright ending Sunday at the Prince Stadium in Phnom Penh, Cambodia.

Dennis Chung and Sandro Reyes provided the goals as the U23 Azkals claimed their first victory in Group A before bowing out of the knockout stages.

The Pinoy youngsters, who earlier drew with Timor-Leste and dropped a 1-0 loss to the host Cambodians, finished third in the group with four points ahead of winless Brunei.

The Timorese beat Cambodia, 1-0, in the last game of pool play to finish No. 1 with seven markers and clinch the coveted semifinal ticket. With six points, the Cambodians settled for No. 2 and now hope to finish as the best second-placed side across the three groups to also advance.

Mr. Chung pounced on Brunei’s goalkeeping miscue off a corner to draw first blood in the 47th minute while Mr. Reyes delivered a fine strike off Andres Aldeguer’s assist 10 minutes later for 2-0. However, Muhammad Hakeme Yazid Said found the back of the net in the 59th to pull Brunei one back.

“We made hard work of this game. We scored two goals but we let Brunei come back,” said coach Stewart Hall. “At the very least, we finished the competition on a high with some players making their international debut.” — Olmin Leyba

John Arcilla receives his Best Actor trophy

ACTOR John Arcilla receives the Volpi Cup for Best Actor. — PHOTO BY MICHELLE ANNE P. SOLIMAN

ACTOR John Arcilla finally received the Venice International Film Festival Volpi Cup for Best Actor that he won at the 78th Venice International Film Festival in September last year for his work on Erik Matti’s On the Job: The Missing 8.

The trophy was presented to him at the WAGI! Celebration of Filipino Excellence film screening and discussion series at the Cultural Center of the Philippines (CCP) on Feb. 18.

After the special screening of On the Job: The Missing 8, Italian Ambassador to the Philippines Marco Clemente presented the award to Mr. Arcilla.

The Venice International Film Festival, founded in 1932, is considered the world’s oldest film fest which aims to raise awareness and promote international cinemas in all its forms.

In his speech, Mr. Clemente said that the Volpi Cup is “comparable to the Oscar for Best Actor and Supporting Actor.”

“The general public do not know that the Coppa Volpi is practically another Oscar. So, it’s important to know how prestigious this award is for [John] Arcilla,” Mr. Clemente said.

Among the previous Best Actor Volpi Cup winners are Brad Pitt, Colin Firth, Liam Neeson, Joaquin Phoenix, Javier Bardem, Ben Affleck, and Sean Penn.

In his acceptance speech, Mr. Arcilla said that he always believed in acting as a noble profession.

“When we create characters, it is a study of human behavior,” Mr. Arcilla said. “When we study an era, the milieu of a certain story — for whom and when it was written, where the story took place — it is, for me, comparable to social science.

“Performances touch lives, [and] broken hearts. Performances can reach out to lost souls, can encourage decisions to spectators, to a group of people, maybe, to a community,” he added. “That’s how powerful our work is. Or I think, that’s how powerful my work is. That’s why I keep on doing what I do as an actor.”

Mr. Arcilla dedicated the award to family who died during the ongoing coronavirus disease 2019 (COVID-19) pandemic and concluded his speech by offering the win to the Filipino people. “Mabuhay tayong lahat. Ito ay para sa atin. (Long live the Filipinos. This [award] is for us.),” he said.

On the Job: The Missing 8 made its world premiere in the Main Competition for the Golden Lion at the 78th Venice International Film Festival in 2021.

The crime drama is a sequel to On the Job (2013), a film about penitentiary prisoners who serve as assassins. Directed by Erik Matti and written by Michiko Yamamoto, the sequel follows radio journalist Sisoy Salas (played by Mr. Arcilla) who investigates the disappearance of his colleagues. It also follows Roman Rubio (Denis Trillo), a prisoner temporarily brought out of prison to carry out executions.

During a discussion after the CCP screening, Mr. Matti announced that On the Job: The Series — in which The Missing 8 plus the original film, On the Job, including never-before-seen footage from the first film, are turned into a six-part series — will be the first HBO Asia Original show to launch in HBO Max in Europe and North America on Feb. 24.

Mr. Matti added that production of a second season of the series is planned for April 2023.

“I think right now, we’re positioned to showcase Filipino talent abroad. This, hopefully, can be an awaking to our peers in the business, that we can cross our borders and showcase our talents out there and dream about bigger projects,” the film’s producer, Ronald Stephen “Dondon” Monteverde, said.

The film is scheduled to screen in more international film festivals this year, including the Fribourg International Film Festival in Switzerland and the Udine Far East Film Festival in Italy. In March, it will be the closing film at the Montañosa Film Festival 2022 in Baguio City.

On the Job: The Series is currently available to stream on HBO Go. — Michelle Anne P. Soliman

SFA Semicon earmarks $65M for five-year capex program

SFA Semicon Philippines Corp. (SSP) is allocating $65 million for its capital expenditure (capex) spending in the next five years “to help SSP take advantage of new opportunities in the global semiconductor market.”

“The CAPEX program aims to replace some of the fully depreciated machineries and equipment in its Phase 1 facility and to upgrade, as well as purchase, new machineries and equipment in both SSP’s Phase 1 and Phase 2 manufacturing facilities in Clark Freeport Zone,” the company said in a disclosure on Monday.

SSP President Joon Sang Kang said the company will be maximizing the opportunities in the global semiconductor market “in light of the accelerated digitalization of homes, businesses, consumer markets, education, and other sectors due to the global pandemic.”

The company said $10.19 million of its unrestricted retained earnings as of Dec. 31, 2021 will be used for its capex program.

SSP’s audited financial statements as of Dec. 31, 2021 show the company logged a net income after tax jump to $12.74 million in 2021, 130% higher than the $5.54 million generated the previous year.

SSP shares on Monday went up 3.42% or four centavos to close at P1.21 apiece. — Keren Concepcion G. Valmonte

Gov’t fully awards Treasury bills at higher rates

THE GOVERNMENT made a full award of the Treasury bills (T-bills) it auctioned off on Monday even as yields went up after the central bank raised its inflation forecasts.

The Bureau of the Treasury (BTr) raised P15 billion as planned via the T-bills it auctioned off on Monday as total tenders reached P35.92 billion, more than double the initial offer. However, bids were lower than the P41.23 billion seen last week.

Broken down, the Treasury bureau raised P5 billion as planned via the 91-day securities from P13.314 billion in bids. The three-month debt paper fetched an average rate of 0.899%, up by 8.9 basis points (bps) from the 0.81% seen last week.

The BTr also borrowed the programmed P5 billion from the 182-day T-bills it offered on Monday from P11.49 billion in tenders. The average rate of the six-month debt went up by 9.1 bps to 1.157% from 1.066% previously.

Lastly, the government made a full P5-billion award of the 364-day debt papers it offered on Monday as bids reached P11.118 billion. The average yield on the one-year instrument stood at 1.568%, up by 9.3 bps from 1.475% a week earlier.

At the secondary market prior to the auction on Monday, the 91- 182- and 364-day T-bills were quoted at 0.8118%, 1.0631%, and 1.5003%, respectively, based on the PHP Bloomberg Valuation Reference Rates published on the Philippine Dealing System’s website.

“Rates rose following upward adjustment for inflation this year,” National Treasurer Rosalia V. de Leon said in a Viber message to reporters after the auction.

Rates also went up due to increasing tensions in Ukraine, she added.

The Bangko Sentral ng Pilipinas (BSP) raised its inflation forecast for 2022 to 3.7% from 3.4% previously and its 2023 estimate to 3.3% from 3.2%.

Inflation risks include pork and fish supply shortages, along with the effect of higher oil prices on transport fares, the central bank said.

Meanwhile, US officials have warned that Russian troops could invade Ukraine “in the coming days,” Reuters reported. Russia’s nuclear forces held drills supervised by Russian President Vladimir Putin on Saturday.

US President Joseph R. Biden agreed “in principle” to summit talks with Mr. Putin, hinting at a possible diplomatic solution.

On the other hand, a trader in a Viber message said yields inched up on investors anticipating a rate hike from the US Federal Reserve in March.

“Dealers and investors are also attuned to the book-building of the current RTB (retail Treasury bond) offering, so some investible funds may be heading there.”

The government last week raised an initial P120.764 billion at its rate-setting auction for its offer of five-year RTBs as tenders reached P183.44 billion, or more than six times the P30-billion plan. The retail bonds fetched a coupon rate of 4.875%.

The offer period for the peso-denominated debt will run from Feb. 15 to 28. There will also be a swap offer for bonds falling due on March 14 and July 4.

Before it canceled the remaining two bond auctions for February, the BTr had planned to raise P200 billion from the domestic market this month, or P60 billion via T-bills and P140 billion from Treasury bonds.

The government borrows from local and external sources to help fund a budget deficit capped at 7.7% of gross domestic product this year. — Jenina P. Ibañez with Reuters

Malls make COVID-19 vaccination fun for kids

MORE MALLS have been turned into pediatric vaccination sites, in support of the government’s coronavirus disease 2019 (COVID-19) vaccine rollout.

Robinsons Malls has opened more pediatric vaccination sites nationwide.    

“Participating Robinsons Malls were transformed into giant playgrounds where they get to banter with mascots, play games, and bring home exciting treats,” the mall operator said.

For instance, Robinsons Place Antipolo held a carnival-themed vaccination party with free ice cream and photo opportunities for superheroes.

Meanwhile, Araneta Group allowed the Quezon City government to use its New Frontier Theater for the inoculation drive for nearly 3,000 children on Feb. 20.

While waiting for their vaccines, children were entertained by mascots and given balloon twisters.

“With Araneta City being a center of leisure and entertainment, we want to incorporate this to the experience of our young vaccinees. This way, they will be less anxious and stressed before and after they receive their COVID jabs,” Marjorie Go, AVP for marketing of Araneta City, said in a statement.

LBC Ronda Pilipinas 2022 returns after one-year break

THE LBC Ronda Pilipinas will be back on the road after a one-year pandemic hiatus as it holds its 11th edition with a 10-stage race. — RONDA PILIPINAS FB

THE LBC Ronda Pilipinas will be back on the road after a one-year pandemic hiatus as it holds its 11th edition with a 10-stage race that would be participated in by the country’s top cyclists including reigning champion George Oconer of Navy Standard Insurance.

Mr. Oconer ruled the last edition of this annual race — the 10th anniversary edition in 2020 — and is expected to be all out to repeat as overall individual champion and pocket the top purse worth P1 million.

“It will be tough, but with the help of my team, I will do my best to win it again,” said Mr. Oconer.

Mr. Oconer will have by his side another Ronda winner, 2019 titlist and Navy skipper Ronald Oranza and a slew of serious contenders including the young and dangerous riders of Go for Gold and a veteran-laden Excellent Noodles squad spearheaded by former champions Santy Barnachea and Jan Paul Morales.

Messrs. Barnachea and Morales, who combine for five Ronda titles in all, have teamed up this year to give the fancied Navymen and Go for Gold, which will be headed by Boots Ryan Cayubit, Dominic Perez and Jonel Carcueva.

Philippine Army, Team Nueva Ecija, Dreyna, Eagle Cement, Champ Café, Bike Kings Laguna, Vantage Ilocos Norte, VPharma, Team Quezon Province and Team Ilocos Sur are the other teams seeing action vying for the P3.5-million cash purse.

Apart from the P1 million to the winner, the second placer receives P400,000 while the third gets P200,000 with the team champion pocketing P200,000 courtesy of LBC Express, Inc., MVP Sports Foundation, Quad X, Twin Cycle Gear, Standard Insurance, Print2Go, Elves Bicycles, Elitewheels, Orome, Maynilad and Garmin.

Petron Boy Kanin, Green Planet Bikeshop, Prolite, Black Mamba, Lightwater and LBC Foundation are also backing the event along with the PhilCycling and Games and Amusements Board.

The race opens with the Stage One Individual Time Trial and Team Time Trial on March 11 in Sorsogon followed by the 163-kilometer (km) Sorsogon-Legazpi City Stage Three on March 12 and 189.1km Legazpi-Daet Stage Four on March 13.

It will be followed by the 212km Daet-Lucena Stage Five on March 14 and 157.4km Lucena-Tagaytay Stage Six on March 15.

It will take a one-day respite the next day and will wind up with the 180.4km Tarlac-Baler Stage Seven on March 17, 174.4km Baler-Echgue, Isabela Stage Eight on March 18, 193.2km Santiago, Isabela-Baguio Stage Nine on March 19 and Baguio City Stage 10 criterium on March 20. — Joey Villar

Tom Holland’s Uncharted tops US box office charts with $44-Million debut

A SCENE from the film Uncharted

LOS ANGELES — Sony’s long-in-the-works video game adaptation Uncharted collected $44 million over the weekend, enough to lead North American box office charts and solidify Tom Holland’s star power.

The big-budget action adventure has been positioned as a key test of Mr. Holland’s bankability outside of his blockbuster success as Spider-Man. Uncharted has received mixed reviews, at best, so it’s safe to assume the 25-year-old British actor had a healthy hand in selling tickets. It also helps that Uncharted is rated PG-13 and based on one of the most popular video games.

Directed by Ruben Fleischer, who previously led Tom Hardy’s comic book tentpole Venom to box office glory, Uncharted is expected to earn $52 million through Monday’s President’s Day holiday. It’s an impressive start in COVID times, but it doesn’t mean the film has an easy path to profitability. Uncharted carries a $120-million price tag, so international ticket sales will be key in getting out of the red.

To that end, Uncharted crucially landed a release date in China, the world’s biggest theatrical market. Visual effects-heavy action-adventures, like Uncharted, tend to play well in China. But recently the country’s censors have been ultra-selective about letting Hollywood movies screen in its movie theaters, and when the Chinese government does approve non-local product, it’s been a real mixed bag at the box office. So, the film’s success in China remains to be seen. Since Uncharted isn’t opening in China until March 14, piracy could be a concern.

Outside of China, Uncharted has been a favorite. Already, the movie has earned roughly $55 million at the international box office and has crossed $100 million globally.

“This is an excellent opening,” says David A. Gross, who runs the movie consulting firm Franchise Entertainment Research. “Action adventures based on video games are big movies, and this weekend’s figure is nearly double the average for the genre.” He adds, “Budgets run high, so Uncharted needs to connect in every market. So far, it is doing that.”

Uncharted follows the globe-trotting treasure hunter Nathan Drake and his wisecracking partner Sully (Mark Wahlberg, who was once attached to play Nathan Drake and since aged out of the role) as they embark on a death-defying quest to uncover the greatest treasure never found. — Reuters

PLDT group, Domino’s Pizza team up to enhance services

PLDT Enterprise on Monday said it had formed a partnership with DPP Retail, Inc. and DPP Express, Inc. — the companies behind Domino’s Pizza — to boost the restaurant chain’s delivery of services by enhancing network capabilities.

PLDT Enterprise, the corporate business arm of PLDT, Inc., said it is extending different connectivity plans to the pizza chain’s headquarters and stores across the country as part of the partnership deal.

Domino’s Pizza’s headquarters and stores are switching “all their mobile lines to Smart through the newly launched packages of Smart Enterprise Postpaid utilizing 5G (fifth generation), Voice over LTE (long-term evolution) and voice over Wi-Fi network capabilities of Smart,” PLDT Enterprise also said in an e-mailed statement.

According to PLDT Vice-President and Enterprise Revenue Group Head Ding Ventura-Villarino, companies should create a digital environment supported by reliable connectivity, as many transactions are now done digitally.

She noted that the company is developing more technologies aimed at helping enterprises with their digital transformation needs.

Domino’s Pizza said the pandemic forced it “to think of ways to keep the business agile and adjust to the changing demands of its customers.”

“With the onset of the lockdown, we experienced growth on online deliveries hence a strong and reliable internet connection is essential for us to operate efficiently,” Domino’s Pizza General Manager Rea Cruz said.

“A few minutes of downtime means losses for the business. We had experienced this before, but now we are confident with the capabilities of PLDT Enterprise in enabling our restaurants to stay connected to keep our customers always satisfied.”

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority stake in BusinessWorld through the Philippine Star Group, which it controls. — Arjay L. Balinbin

RCBC raises P14.76B via sustainable bonds

RIZAL COMMERCIAL Banking Corp. (RCBC) on Monday said it raised P14.756 billion through its offer of sustainability bonds.

The bank’s offer of ASEAN (Association of Southeast Asian Nations) sustainability bonds was oversubscribed by nearly five times from the planned P3-billion issue size amid strong demand from investors, RCBC said in a statement.

The 2.25-year papers maturing in 2024 carry a coupon rate of 3% per annum. They were offered from Jan. 31 to Feb. 11 and were listed on the Philippine Dealing and Exchange Corp. on Monday.

“The proceeds from the offer will be used to support asset growth, refinance maturing liabilities and other general funding purposes in line with the bank’s Sustainable Finance Framework,” the bank said.

The bank’s sustainable finance framework has been certified by Sustainalytics, an independent environmental, social, and governance research and ratings provider.

The Hongkong and Shanghai Banking Corp. (HSBC) was the sole lead arranger for the transaction. HSBC also served as a bookrunner alongside RCBC Capital Corp., which was the financial advisor for the offering. Both HSBC and RCBC were also selling agents for the papers.

The offering marked RCBC’s seventh foray into the peso bond market and brings the total amount raised by the lender via issuances since 2019 to P86.8 billion.

Prior to the latest issuance, RCBC raised P17.87 billion through an ASEAN sustainability bond offering in 2021.

Aside from sustainability-linked bonds, RCBC has also been offering green time deposits to fund its sustainable asset portfolio.

The bank’s net income more than doubled to P2.01 billion in the third quarter of 2021 from a year earlier as it booked higher earnings from its core businesses. This brought RCBC’s nine-month net profit higher by a third to P5.338 billion.

The Yuchengco-led lender’s shares closed at P20.90 apiece on Monday, down by 45 centavos or 2.11% from its previous finish. — L.W.T. Noble

Is the leisure sector ripe for a rebound?

BW FILE PHOTO/ KOALA CRUZ

Colliers Philippines is starting to see green shoots of recovery in the hotel and leisure segment. Many Filipinos are raring to spend and travel after two years. But the questions remain, are these growth indicators enough to enable the sector to regain lost ground? How has the segment evolved? And will local and foreign tourists’ preferences change as a result of the pandemic?

Data from the Philippine Statistics Authority (PSA) showed that spending in the restaurants and hotels segment grew by 5.1% in 2021 from a 43.1% contraction in 2020. Meanwhile, the gross value added (GVA) for land, water and air transport saw a turnaround with an average growth of 3.5% in 2021 from a 39.3% drop in 2020. The easing of mobility restrictions has also propelled hotels and other tourism establishments’ operations due to larger operating capacities.

Previously, Colliers noted that recovery in the hotel segment is likely to be driven by domestic travel, followed by corporate travel, extended leisure with the easing of international travel restrictions, with Meetings, Incentives, Conferences and Exhibitions (MICE) activities recovering the slowest. Projections from International Air Transport Association (IATA) show that the domestic travel demand is likely to reach 93% of pre-COVID levels in 2022 while international travel demand will likely reach 44% of pre-pandemic level this year.

While the demand for international travel remains sluggish, the Department of Tourism (DoT) shifted its efforts to reviving local tourist destinations such as Palawan, Cebu and Boracay. The department also ramped up its vaccination drive to inoculate workers from various tourism-related industries. As of the end of 2021, about 282,780 workers or 88% of the 325,489 workers have been inoculated against Covid. 

The results from our Q4 2021 Property Briefing Survey showed travelers’ preference to visit local tourist destinations once the government lifts all travel restrictions. Travelers are likely to visit beaches as 47% of those surveyed chose Palawan as their top destination, followed by Boracay (33%).

To prepare for the anticipated rebound in demand, Colliers Philippines has provided some recommendations on how hotel operators and other tourism stakeholders can maximize the pent-up demand and kickstart recovery:

REPURPOSE FACILITIES INTO PRIVATE OFFICES AND FLEXIBLE WORKSPACES
Traditional and outsourcing firms’ implementation of alternative work schemes has enabled hotel operators to be agile with their services. For one, some hotel brands have started to convert and repurpose their facilities into private offices and flexible workspaces provided that they comply with the government-mandated health and safety protocols.

Colliers believes that demand for these facilities is likely to grow, given that more firms are willing to implement remote work schemes. Hotels also do not require long-term lease obligations while offering round-the-clock services and on-site amenities to guests. During our Q4 2020 Briefing survey, 66% of the respondents said that they are willing to work in a hotel room converted into a co-working/flexible workspace.

IMPLEMENT STAFF TRAININGS AND REFRESHER PROGRAMS
Informing staff of the new protocols and guidelines in cleaning practices in common areas and hotel rooms, proper food and beverage (F&B) etiquette and maintaining sanitary food preparation. Colliers believes that these will ensure a seamless, efficient, and safe hotel experience for guests under the new normal.

INTRODUCTION OF HYBRID MICE
One of the segments hardest hit by the pandemic is the MICE industry. In our view, hotel operators and other tourism stakeholders should look at the viability of implementing hybrid MICE events or a mix of physical and virtual participants. We believe that this should partly buoy the MICE segment which heavily suffered due to limited face-to-face events.

Surprisingly, about 57% of the respondents during our Q4 2021 briefing said that they are now willing to attend a face-to-face event or convention in a five-star hotel while 43% said otherwise. This is an improvement from our Q2 2021 survey result in which 80% of our respondents said that they are still not confident to attend face-to-face events.

Overall, we see the hotel sector gearing up for a rebound. The gradual easing of local and international travel restrictions and improving vaccination rates should shed light on the leisure sector’s recovery. While the pandemic has changed the way people interact and live, the hospitality and tourism segment must respond, prepare and look ahead to be able to thrive in a post-COVID environment.


Alfonso Martin L. Aguila is a senior research analyst at Colliers Philippines. He covers office, residential, leisure, retail, and industrial sectors.

Pro league takes a break while FIBA window in play

Leg 2 of PBA Second Conference 3×3 set for March 5-6

PBA 3×3 Second Conference Leg 1 winner TnT and its rivals get more buildup time for the next battle with the league taking a break this week while the FIBA international window is in play.

“Leg 2 of the Philippine Basketball Association (PBA) 3×3 will be set on March 5 and 6, Saturday and Sunday,” PBA 3×3 chairman Dicky Bachmann said.

The pro league is giving way to the Smart Araneta Coliseum’s hosting of the International Basketball Federation (FIBA) World Cup Asian Qualifiers games from Feb. 24 to 28.

After holding the games at the Big Dome, the PBA has booked its Governors’ Cup on Wednesday to Sunday hostilities at the Ynares Center in Antipolo City for this week.

Tomorrow’s double-header featuring Alaska versus NLEX and San Miguel Beer against Phoenix marks the first PBA games there since TnT and Meralco played the deciding game of their Governors’ Cup semifinal series on Dec. 23, 2019.

The three-a-side hoopfest, which holds matches in the mornings, won’t be following the 5×5’s Ynares-Antipolo swing. Instead, the PBA 3×3 will join the Governors’ Cup when it returns to the Quezon City venue in early March, taking its old weekend slot.

The PBA 3×3 kicked off its second tournament over the weekend with 13 teams, including debuting guest squad Master Sardines, in a spirited fight.

Tropang Giga crew Almond Vosotros, Samboy de Leon, Lervin Flores and new recruit Rey Mark Acuno reigned supreme, beating Meralco in the first leg finale, 21-19, to cap an unbeaten run.

“First leg pa lang ito; kailangan pa namin magtrabaho to be a better team sa mga susunod,” said Mr. De Leon. — Olmin Leyba

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