Investors sell Meralco shares on news over power supply, nuclear

December 12, 2022 | 12:01 am

INVESTORS played with Manila Electric Co. (Meralco) shares last week over news that it has secured an exemption from the competitive selection process (CSP) for its emergency power supply.

Also influencing Meralco’s performance is news that the electricity distributor is looking into nuclear energy

Philippine Stock Exchange (PSE) data showed a total of 1.32 million Meralco shares worth P374.23 million were traded from Dec. 5-7 and 9, making it the 18^th most active stock. Local financial markets were closed on Dec. 8 in observance of the Feast of the Immaculate Conception.

On a week-on-week basis, Meralco’s share price fell 1.8% to P280 apiece last Friday from its closing price of P285 on Dec. 2. For the year, the stock has gone down by 5.2%.

Timson Securities, Inc. Head of Online Trading Marc Kebinson L. Lood said in a Viber message that SMC Global Power Holdings Corp.’s decision to stop supplying Meralco effective Dec. 7 caused its stock price to drop.

The supplier’s move comes after the Energy Regulatory Commission (ERC) rejected a proposed rate hike for the 670 megawatts (MW) from the company’s Ilijan power plant. The ERC rejected a joint petition filed by Meralco and SMC Global Power for a rate increase, saying their plea was without basis as their power supply agreement is a fixed-rate contract.

Last week, Meralco secured an exemption from the Department of Energy from holding a CSP for its emergency power supply, which was prompted by a court-issued temporary restraining order (TRO) that put on hold its power supply deal with a unit of SMC Global Power.

Jose Ronald V. Valles, Meralco’s first vice-president and head of its regulatory management, said an offer was made by Aboitiz Power Corp. to supply Meralco the equivalent power capacity of 300 MW until Jan. 25, 2023.

“In the short term, this news is negative for the stock. Consumers will face higher power prices as SMC [Global Power] is forced to breach its fixed-rate agreement with Meralco. Meralco will look to buy electricity on the spot market at volatile prices,” Mr. Lood said.

In a separate development, the power distributor said it was applying for a grant from the United States Trade and Development Agency to perform a feasibility study for small modular reactors as the company is eyeing nuclear as an energy source.

Mr. Lood warns of higher energy prices that may be a “key risk” for the company in 2023. However, he said if oil prices decline then the power distributor’s margins will improve.

“When the economy begins to recover, energy consumption can increase with high demand, which will help bring in large volumes. Meralco is the one to keep an eye on; it’s a must-have and very stable,” he said.

Mr. Lood expects the power company to post a net income of P26.1 billion for the year, or about 11.1% higher than the previous year.

Meralco’s third-quarter revenues rose by 39.5% to P115.28 billion, bringing its nine-month revenues to P314.88 billion, up by around 35.9%. Its third-quarter attributable net income rose by 1% to P6.64 billion for a year-to-date increase of 19.6% to P19.76 billion.

Mr. Lood pegs Meralco’s resistance level at P310 and its support level at P260.

Meralco’s controlling stakeholder, Beacon Electric Asset Holdings, Inc., is partly owned by PLDT, Inc. Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has an interest in BusinessWorld through the Philippine Star Group, which it controls. – Ana Olivia A. Tirona

India says GM technology important for food security, import reduction

December 12, 2022 | 12:01 am

NEW DELHI — India said Thursday that it was important for it to adopt farming technologies like genetically modified (GM) crops to ensure food security and cut a reliance on imports, as it tries to boost the output of edible oils for its huge population.

The environment ministry in October granted environmental clearance for indigenously developed GM mustard seeds, potentially paving the way for a commercial release of the country’s first food crop in about two years.

Cotton is the only GM crop now allowed for cultivation in India. More than 60% of India’s total edible oil demand is met through imports from countries such as Indonesia and Malaysia, as well as the Black Sea region.

“Strengthening of plant breeding programmes including the use of new genetic technologies such as GE (genetically engineered) technology is important for meeting emerging challenges in Indian agriculture and ensuring food security while reducing foreign dependency,” minister of state in the environment ministry, Ashwini Kumar Choubey, told parliament, referring to GE, which is another term for GM.

India spent a record $19 billion importing vegetable oils last fiscal year that ended on March 31. Russia’s invasion of Ukraine also disrupted imports and raised prices, before supplies improved.

Activists have said GM mustard would require widespread use of herbicides and pose a threat to honey bees. India’s Supreme Court is hearing a challenge to the decision to allow an environmental release of mustard hybrid “DMH-11” for seed production and other tests before commercial release.

Mr. Choubey said the environmental release would help scientists study any effect of GM mustard on bees and other pollinators.

India, set to overtake China next year as the world’s most populous country, in 2010 blocked the release of a GM version of eggplant following opposition from environmentalists and some farmers.

Scientists say India’s growing population and shrinking cultivable land mean it needs to adopt more efficient ways of farming to feed its nearly 1.4 billion people. — Reuters

Yields on government debt drop on hopes of smaller Fed increases

December 12, 2022 | 12:01 am

YIELDS on government securities (GS) declined last week to track global bond rates that also dropped amid recession fears and hopes of smaller hikes from the US Federal Reserve.

Debt yields, which move opposite to prices, fell by an average of 10.79 basis points (bps) at the secondary market week on week, based on PHP Bloomberg Valuation Service Reference Rates data as of Dec. 9 published on the Philippine Dealing System’s website.

Last week’s trading session saw yields on Treasury bills (T-bills) end mixed, while those on Treasury bonds (T-bonds) decreased across the board.

Yields on the 182- and 364-day T-bills dropped by 3.29 bps and 11.57 bps to 4.8147% and 5.1257%, respectively. Meanwhile, the rate of the 91-day paper climbed by 1.53 bps to 4.1601%.

At the belly of the curve, rates of the two-, three-, four-, five-, and seven-year T-bonds declined by 3.92 bps (to 5.8756%), 8.69 bps (6.1568%), 11.59 bps (6.334%), 12.32 bps (6.465%) and 11.39 bps (6.6615%), respectively.

Likewise, the long end of the curve fell as yields on the 10-, 20-, and 25-year debt papers went down by 12.92 bps (to 6.8684%), 22.61 bps (7.2233%), and 21.94 bps (7.1814%), respectively.

Total GS volume reached P11.147 billion on Friday, higher than the P10.303 billion recorded on Dec. 2.

“Local bond yields tracked the movement in global bond markets with sentiment improving,” ING Bank Manila Senior Economist Nicholas Antonio T. Mapa said in an e-mail.

He added that market players are pricing in slower rate hikes from the Fed.

“Capping the rally was the higher-than-expected inflation report showing inflation hit 8%,” Mr. Mapa said.

The bond trader attributed local yield movements last week to the decline in US Treasury yields amid recession fears and after the Bureau of the Treasury (BTr) scrapped its last two auctions for the year.

“The BTr canceled remaining auctions even as schedule was already light to begin with, and this decision was made even if there were bond maturities that can be tapped,” the bond trader said in a Viber message.

For most of last week, yields on US Treasuries slumped, with the two-year yield, which reflects interest rate expectations, at 4.2838% as of Thursday, away from its 15-year high of nearly 4.9% hit last month, Reuters reported.

A closely watched part of the US Treasury yield curve, the gap between yields on two- and 10-year Treasury notes was inverted at -83 bps. An inversion of this yield curve is typically a precursor to recession.

However, on Friday, Treasury yields rose after data on US producer prices stirred hopes of moderating inflation but also fears the Fed will need to keep rates higher for longer.

The benchmark 10-year yield went up 10.2 bps to 3.595% and the two-year note rose 3.2 bps to 4.344% on Friday.

The yield curve measuring the gap between yields on two- and 10-year notes was at -75.5 bps.

The producer price index (PPI) for final demand rose 0.3% last month and increased 7.4% annually, while the PPI for October was revised up to 0.3% from 0.2% as previously reported, the US Labor department said.

Fed policy makers are now expected to raise rates by 50 bps at their Dec. 13-14 meeting to a range of 4.25% to 4.5% following four straight 75-bp hikes.

The Fed has hiked borrowing costs by 375 bps since March.

Meanwhile, back home, headline inflation was at a 14-year high of 8% in November, breaching the Bangko Sentral ng Pilipinas’ (BSP) 2-4% target for 2022 for an eighth straight month.

Inflation averaged 5.6% in the eleven months to November, faster than the 4% print recorded in the same period last year.

The BSP has raised benchmark interest rates by 300 bps since May and is seen to continue tightening at its Dec. 15 review.

For this week, the bond trader said there may be profit taking ahead of the BSP’s policy meeting, where the market also widely expects a 50-bp hike.

Mr. Mapa likewise said the market will its cue from the policy reviews of the Fed and the BSP.

“Although both central banks are widely expected to hike by 50 bps, sentiment will likely be swayed by comments after each meeting,” he said. — A.M.P. Yraola with Reuters

Dashboard

December 12, 2022 | 12:01 am

As Astara marked its second year of operations in the Philippines, it added GAC Motor to its automotive distributorship portfolio, joining French brand Peugeot. “The partnership with GAC Motor positions Astara Philippines as a key player in the local automotive sector with two global auto brands under its belt,” said Astara Philippines in a release. In photo are Astara Philippines Managing Director Raoul Picello (standing, fourth from left) and Chief Financial Officer Adolfo Careaga (standing, third from left), with representatives from the brand’s seven dealer partners. In a contract-signing ceremony, the parties reaffirmed a commitment “to provide top-notch vehicles and services” to all customers. “We are truly honored to continue GAC Motor’s journey as their new partner in the Philippines. With Astara’s global strength and track record in car distribution and mobility services, we are confident that we can take GAC Motor to greater heights as we have done in Latin America,” said Mr. Picello. “The Philippine market is an important one with great potential. At present, a lot of Chinese brands have achieved annual sales of more than 10,000 vehicles. It is believed that with the full cooperation of GAC and Astara, GAC Motor’s market share in the Philippines will increase rapidly, becoming the travel choice of more and more Filipino consumers and bringing the high-quality and high-tech driving experience to more Filipino families,” joined GAC Motor General Manager Zeng Hebin.

Analysts’ expectations on policy rates (Dec. 2022)

December 12, 2022 | 12:00 am

THE PHILIPPINE central bank is widely expected to raise benchmark interest rates by 50 basis points (bps) at its meeting on Thursday, as the US Federal Reserve is also likely to tighten policy this week. Read the full story.

How PSEi member stocks performed — December 9, 2022

December 12, 2022 | 12:00 am

Here’s a quick glance at how PSEi stocks fared on Friday, December 9, 2022.

Volatile trading seen ahead of Fed, BSP meetings

December 11, 2022 | 9:00 pm

PHILIPPINE STOCKS may see a volatile trading week ahead of the policy meetings of both the US Federal Reserve and the Bangko Sentral ng Pilipinas (BSP).

The bellwether Philippine Stock Exchange index (PSEi) added 54.96 points or 0.84% to close at 6,580.12 on Friday, while the broader all shares index increased by 11.54 points or 0.33% to 3,437.40.

Week on week, the PSEi also went up by 90.47 points or 1.39% from its close of 6,489.65 on Dec. 2.

“The local stock market gauge gained for the second day in three days in line with the latest overnight gains in the US stock markets, which mostly corrected higher, by 0.5% to 1.1%,” Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

On Thursday, Wall Street rebounded on the rise of weekly jobless claims which investors see as a sign of slower rate hikes from the Fed, Reuters reported.

However, on Friday, US stocks closed lower due to mixed economic data that fueled conflicting Fed bets.

For this week, Philstocks Financial, Inc. Senior Research Analyst Japhet Louis O. Tantiangco said investors will take their cue from the policy decisions of the Fed and the BSP, as well as Philippine foreign direct investments and trade data.

“Aside from inflation concerns, offshore recession worries amid the Federal Reserve’s monetary tightening may weigh on sentiment. [This] week, investors are also expected to watch out for the Bangko Sentral ng Pilipinas’ policy decision, with a 25 to 50-basis-points (bp) policy rate hike anticipated. Investors are expected to watch out for clues regarding the outlook of the country’s inflation on the BSP’s upcoming policy meeting,” Mr. Tantiangco said.

“Capital markets are expected to gyrate with the Fed’s final meeting for the year [this] week — as was the case for all Fed meetings throughout the year. Baseline expectations is for the Fed to hike by a slightly less aggressive 50 basis points, to end its four consecutive 75-bp increases,” online brokerage 2TradeAsia.com said in a market report.

2TradeAsia.com said the BSP is likewise expected to continue hiking rates this week and could give hints on its future policy path.

The US central bank has raised borrowing costs by 375 bps since March, with the fed funds rate now at the 3.75%-4% range. Its next meeting is scheduled on Dec. 13-14.

Meanwhile, the BSP has raised benchmark interest rates by 300 bps since May, with the policy rate now at 5%, and is seen to continue tightening at its Dec. 15 review.

A BusinessWorld poll last week showed 13 of 15 analysts expect a 50-bp hike on Thursday. One economist sees a 25-bp increase, while another expects no change in policy.

2TradeAsia.com placed the PSEi’s immediate support at 6,450 to 6,500 range and resistance at 6,800, while Philstocks Financial’s Mr. Tantiangco put support at the market’s 200-day exponential moving average of 6,578.67 and resistance at 6,600. — J.I.D. Tabile

Peso may continue to climb vs dollar ahead of central bank meetings

December 11, 2022 | 9:00 pm

THE PESO may continue to climb against the dollar this week in anticipation of rate hikes from the US Federal Reserve and the Bangko Sentral ng Pilipinas (BSP), as well as the release of US consumer inflation data.

The local unit closed at P55.37 per dollar on Friday, strengthening by eight centavos from its P55.45 finish on Wednesday, data from the Bankers Association of the Philippines’ website showed.

This was the peso’s strongest close in four months or since it finished at P55.30 against the dollar on Aug. 11.

Week on week, the peso also strengthened by 37 centavos from its P55.74 close on Dec. 2.

The peso opened Friday’s session stronger at P55.27 per dollar. It dropped to as low as P55.39 during the day, while its intraday best was at P55.17 against the greenback.

Dollars exchanged dropped to $944 million on Friday from the $1.158 billion recorded on Thursday.

Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message that the peso ended stronger as global oil prices declined further, recording their biggest weekly drops in months.

Oil price settled lower in volatile trading on Friday, with both benchmarks recording their biggest weekly declines in months, as growing recession fears negated any supply woes after weak economic data from China, Europe and the United States, Reuters reported.

US West Texas Intermediate (WTI) crude settled 44 cents lower at $71.02 a barrel, a new low for 2022. Brent crude settled 5 cents lower at $76.10 per barrel.

Both crude benchmarks posted weekly losses of around 10% each. It was the biggest weekly decline since April for the US WTI futures, and since early August for Brent.

The peso also strengthened due to “a highly anticipated seasonal increase in overseas Filipino worker (OFW) remittances and conversion to pesos a few days before the holiday season,” Mr. Ricafort said.

For this week, UnionBank of the Philippines, Inc. Chief Economist Ruben Carlo O. Asuncion said seasonal dollar flows may provide support for the peso ahead of the policy meetings of the Fed and the BSP.

Markets widely expect the Fed to raise borrowing costs by 50 basis points (bps) at their Dec. 13-14 meeting following four straight 75-bp hikes. The US central bank has hiked borrowing costs by 375 bps since March.

Meanwhile, the BSP Monetary Board is likewise expected to raise benchmark interest rates by 50 bps at its Dec. 15 review. It has tightened by 300 bps since May amid rising inflation.

However, Mr. Asuncion said the expected rate hikes from both central banks are mostly priced in already and that a main trading driver for this week could instead be the release of November US consumer price index (CPI) data on Dec. 12, Monday.

US CPI rose by 0.4% month on month in October. In the 12 months through October, US consumer prices increased 7.7%, slower than the 8.2% logged in September.

Other data that could affect peso-dollar trading are reports on Philippine trade and remittances, as well as US data on manufacturing, retail sales and jobs, among others.

For this week, Mr. Ricafort expects the local unit to move from P55 to P55.60 per dollar, while Mr. Asuncion gave a wider forecast range of P55 to P55.75. — A.M.C. Sy with Reuters

Morocco’s WC dream continues as team Portugal is eliminated

December 11, 2022 | 7:42 pm

Youssef En-Nesyri — YOUSSEF EN-NESYRI center-forward of Morocco and Sevilla FC in action during the FIFA World Cup Qatar 2022 quarterfinal match between Morocco and Portugal at Al Thumama Stadium on Dec. 10 in Doha, Qatar. — JOSE BRETON

1 of 2

Giroud sends France into semis as England misses late penalty

DOHA — Morocco’s extraordinary run in Qatar continued on Saturday as they claimed another massive scalp in beating Portugal 1-0 to become the first African and Arab country to reach the World Cup (WC) semifinals.

A hugely significant victory broke new ground for the game outside of Europe and South America, who have been the dominant force in the sport, winning all 21 previous editions of the World Cup.

The result could also go a long way towards vindicating the controversial decision to host the tournament in the Middle East.

Youssef En-Nesyri’s 42^nd minute goal at the Al-Thumama Stadium means Morocco are only the third country outside of Europe and Latin America to reach the last four, after the US at the first World Cup in 1930 and South Korea, co-hosts when they got to the semis 20 years ago.

It is a result with major significance for the world game, providing proof that the gap between the top teams and the rest is closing and handing new hope to many countries who might have felt World Cup success was beyond them.

Saturday’s victory for Morocco comes on top of their win over second-ranked Belgium in the group phase and penalty shootout success against Spain in the last 16.

But against Portugal, despite their pre-match protestations about fatigue, they were more ambitious. They looked for counter attack opportunities while soaking up the pressure with resolute defense.

They have conceded only one goal in their five games at the tournament, keeping at bay some of the tournament’s top names.

Portugal had their chances but not enough to panic the Moroccan backline, who were without the injured Nayef Aguerd and lost skipper Romain Saiss to a thigh injury after halftime.

All the time Morocco waited to burst forward on the counter and left back Yahia Attiyat-Allah, starting his first game of the tournament, led the efforts with several surging runs down the flank.

TOWERING HEADER
He presumably did not want to cross with as much height as he did in the 42^nd minute but En-Nesyri proved equal to the challenge with a towering header as he outjumped both goalkeeper Diogo Costa and defender Ruben Dias to hand Morocco the lead.

There were chances for a second as Jawad El Yamiq came close with a header from a setpiece after halftime and late substitute Zakaria Aboukhlal fluffed a chance when he was one-on-one with the goalkeeper at the end of the game.

Morocco’s victory set off jubilant celebrations throughout the region and come as a boost to Qatar, whose choice as hosts was dogged by controversy but they can now wallow in the success of an Arab country.

Portugal had been runaway favorites on Saturday and will consider the defeat as a missed opportunity.

The match marked a possible end to Cristiano Ronaldo’s Portugal career, with the striker reduced to tears as he walked down the tunnel at the end of the game.

His 196^th international appearance as a second-half substitute gave Portugal a temporary lift. But there would be no be no fairytale ending for the 37-year-old.

GIROUD SENDS FRANCE INTO WORLD CUP
Oliver Giroud sent France into a World Cup semi-final with Morocco as his late header after Aurelien Tchouameni’s opener clinched a gutsy 2-1 win over England on Saturday with Harry Kane blazing a penalty over the bar six minutes from time.

Four years ago Giroud did not manage a shot on target in the entire tournament as France won the title but in Qatar he now has four goals and has become his country’s record goalscorer along the way.

France are now one win away from becoming the first back-to-back finalists since Brazil in 2002 and two from being the third team to retain the trophy after Brazil in 1962 and Italy in 1938.

Manager Didier Deschamps, who captained them to their first World Cup triumph in 1998 and coached them to their second title four years ago, described the victory as fabulous.

France really did have to work hard for their win as the first major tournament knockout match between the old sporting rivals maintained the excitement and edge-of the seat drama that has made it such an extraordinary quarterfinal weekend.

They went ahead after 17 minutes when, after a length-of-the-field break, Antoine Griezmann rolled the ball invitingly into the path of Tchouameni, whose 25-yard low shot flew just inside the post.

England eventually got going, pushing and probing, andFrance keeper Hugo Lloris was quick off his line to save at the feet of Kane and then parried another drive from England’s captain.

Lloris was in action again at the start of the second half, tipping a fierce Jude Bellingham shot over the bar as England came out full of purpose and energy.

The dangerous Bukayo Saka was then tripped by Tchouameni and Kane smashed the penalty high beyond his Tottenham Hotspur team mate Lloris to draw level with Wayne Rooney as England’s record scorer on 53 goals.

England, beaten semifinalists four years ago, were buoyed by the goal and were playing with huge confidence but although centre-back Harry Maguire brushed a post with a header they could not make their dominance count.

Instead France hit back as Griezmann swung in a perfect centre that Giroud did brilliantly to reach in front of Maguire,planting his header into the slimmest of gapsafter 78 minutes.

The cross took the ever-elusive Griezmann beyond Thierry Henry as his country’s top assist provider with 28 and was another reminder of why he has played an extraordinary 72 internationals in a row.

England were then given another lifeline via VAR when Theo Hernandez flattened Mason Mount but this time Kane sent his spot kick wildly over the bar in a painful reminder of Chris Waddle’s effort when they lost the 1990 semifinal shootout to West Germany.

England pushed for an equalizer but when substitute Marcus Rashford’s added-time free kick fizzed just over the bar it meant a seventh defeat in 10 World Cup quarterfinals and another ‘four years of hurt’ to tack on since their solitary triumph in 1966.

France now face the unlikeliest of semifinal opponents in Morocco, after they beat Portugal 1-0 earlier on Saturday and Deschamps was quick to recognize their worth. — Reuters

CSB forces winner-take-all Game 3 of NCAA S98 Finals

December 11, 2022 | 7:41 pm

COLLEGE of St. Benilde (CSB) responded to coach Charles Tiu’s repeated pleas to play tough as it showed incredible grit lacking last time and humbled and tamed a once mighty Letran, 76-71, yesterday in forcing a deciding Game Three in NCAA Season 98 at the Ynares Center.

It took a couple of spectacular efforts by Will Gozum and Miggy Corteza to help the Blazers knot the count at one game apiece and arrange a knockout duel for all the marbles next week at the Ynares Center in Antipolo.

Mr. Gozum showed he’s the league MVP by imposing his will and dropping 21 points, 10 rebounds and three blocks while Mr. Corteza played the game of his life and erupted for 14 of his 21 points in that massive third-quarter offensive that saw CSB seizing the lead and momentum.

Migz Oczon, who tweaked his ankle that forced him out in an 81-75 Game One loss a week ago, suited up today despite missing practice the whole week and scattered 15 points that he highlighted with that dagger of a jumper late.

In the end though, it was matching Letran’s physicality that spelled the biggest difference.

“We’ve been talking about it the whole week and kept on asking them to be mentally tough,” said Mr. Tiu. “In our hearts, they beat us three times but we still believe we can win.”

“It’s about time we stood up for ourselves and I’m glad we matched their physicality,” he added.

The win was CSB’s first finals triumph since the title clincher — a 74-61 win — against San Sebastian 22 years ago that secured the former its breakthrough crown.

And in a week, a second could be coming.

The Knights played minus Kobe Monje and Kyle Tolentino, who served out their one-game suspension for their misdemeanor in the opener and a tamed Paolo Javillonar, who wasn’t suspended but was warned against his shenanigan for touching Mr. Gozum’s behind.

It didn’t help that Letran skipper Fran Yu couldn’t control his emotion and was ejected for elbowing CSB’s Mark Sangco in the head in the second quarter.

It was a double black eye for the wily Yu as Letran lost the game and he is expected to receive suspension for that Game Three of their lives.

Worst, Mr. Yu could end his stellar career with that forgettable moment where he just lost concentration.

For Mr. Corteza, he came into the game with mission and left everything on the floor in that unforgettable third-quarter stretch where he just went on attack mode that got CSB out of trouble while jumping straight to the driver’s seat.

“I told my self before the game I’m going to empty the gas tank today (yesterday) and give everything,” said the meek, soft-spoken power forward. — Joey Villar

The Scores:

CSB 76 — Gozum 21, Corteza 21, Oczon 15, Nayve 10, Pasturan 3, Sangco 3, Carlos 3, Cullar 0, Marcos 0, Davis 0, Lepalam 0, Flores 0, Lim 0.

Letran 71 — Paraiso 16, Sangalang 11, Reyson 11, Caralipio 9, Yu 6, Santos 6, Javillonar 5, Olivario 4, Ariar 3, Guarino 0, Go 0.

Quarterscores: 20-23, 34-45, 64-59, 76-71

NU sweeps DLSU for record-tying 7^th straight crown

December 11, 2022 | 7:41 pm

NATIONAL University (NU) owned a page in the history books, posting its record-tying seventh straight championship with a statement sweep of rival De La Salle (DLSU) in the UAAP Season 85 women’s basketball finals on Sunday at the Mall of Asia Arena.

The Bulldogs mauled the Lady Archers in Game 2, 76-64, to wipe the floor with the Lady Archers after a 93-61 Game 1 triumph as they atoned for absorbing a lone scar in the eliminations against the same squad.

Kristine Cayabyab spearheaded the relentless attack with 18 points, five rebounds, two assists and two steals as the Lady Bulldogs completed a seven-peat to tie the great UE Red Warriors squad in the 60s-70s under the watch of legendary mentor Baby Dalupan and led by icon Robert Jaworski Sr. for the longest title streak in UAAP basketball history.

Ms. Cayabyab registered 12.5 points, 5.5 rebounds, 1.5 assists and 2.5 steals to be hailed the Finals’ Most Valuable Player for NU, which swung back at La Salle with a bang after a historic 61-57 overtime loss in the second round.

That defeat snapped NU’s 108-game win streak that stood almost a decade, which somehow served as a “blessing in disguise” and transformed the Bulldogs to an even ferocious pack with extra thirst and hunger for blood.

“We took that loss as a blessing in disguise. We’re thankful that it happened in the eliminations because it gave us time to really look ourselves in the mirror and tell ourselves that we can lose any game,” said coach Aris Dimaunahan, a champion coach in his first season after taking over from Pat Aquino.

“It brought us to the ground but that loss gave us a chance to become a stronger team. That gave us characters to bounce back. But still, since our first game, our goal was to win the championship. And we did.”

NU, riding on a 32-point win in Game 1, led only by 8-7 in this clincher but unleashed a quick 19-4 barrage to take command heading home to solidify stature as the undisputed queen of Philippine collegiate basketball scene.

Charmine Torres led the way with 29 points, seven rebounds and five steals as the Lady Archers fell short from an elusive bid of trampling the NU wall. De La Salle was the last champion in 2013 before NU’s dynasty.

Meanwhile, Santo Tomas guard Eka Soriano claimed the UAAP Season 85 MVP award behind averages of 14.36 points, 6.29 rebounds, 7.14 assists and 3.71 steals as Ateneo’s Kacey Dela Rosa won Rookie of the Year honor.

Joining them in the Mythical Team were Adamson’s Victoria Adeshina, Ateneo’s Jhazmin Joson and Santo Tomas’ Tacky Tacatac. — John Bryan Ulanday

The scores:

NU 76 — Cayabyab 18, Surada 10, Edimo Tiky 9, Clarin 8, Cacho 6, Pingol 6, Bartolo 5, Canuto 4, Fabruada 4, Villareal 4, Betanio 2, Solis 0, Barroquillo 0, Dimaunahan 0, Ico 0.

De La Salle 64 — Torres 29, Niantcho Tchuido 13, Arciga 8, Sario 7, Binaohan 5, De La Paz 2, Jimenez 2, Ahmed 2.

Quarterscores: 27-11, 42-27, 61-40, 76-64.

Rivalry

December 11, 2022 | 7:40 pm

When there are underlying reasons for simmering emotions, it takes little to get holders past the boiling point. Take the Pelicans and the Suns, who had to be broken up at the end of the match the other day. The hosts were already well on their way to victory when top dog Zion Williamson saw fit to unleash a vicious 360-degree windmill dunk in garbage time, triggering a kerfuffle at the buzzer. The delight of the near-capacity crowd at the Smoothie Center was accompanied by derision from the 2021-22 season runners-up, who deemed the act “unsportsmanlike.”

In the presser, Williamson admitted that he “got carried away a little bit.” That said, he did not deny that he went for the spectacular slam as payback for the Suns’ elimination of the Pelicans in the first round of the immediate past playoffs. Never mind that he missed all of the previous campaign due to knee and foot injuries. “I was in that locker room when my brothers were down because the Suns sent us home last year. That’s a tough moment to be a part of.” Imagine, then, how much harder it was to take for his teammates who suited up.

Dynamic reserve Jose Alvarado was among those with a long memory, and not simply because he was clocked by Suns veteran Chris Paul in each of the final two contests of the Pelicans’ one-and-done postseason series. In any case, he continued to use the setback as motivation; even as he nursed a rib contusion heading into the set-to, for instance, he was bent on burning rubber. “I wasn’t sitting out,” he contended. “Not [that I] care about anybody else, but if that person plays, I’m playing.”

Needless to say, the incident figures to add color to today’s rematch. No one could have predicted ahead of time that the back-to-back set between the Pelicans and Suns would wind up being must-watch theater, but it’s fair to argue that a rivalry has been born. Whether Williamson broke an unwritten rule is subject to debate. What’s clear is that, from here on, any meeting between them will seem like the Larry O’Brien Trophy is up for grabs.

Anthony L. Cuaycong has been writing Courtside since BusinessWorld introduced a Sports section in 1994. He is a consultant on strategic planning, operations and human resources management, corporate communications, and business development.