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AMLC asserts authority to police deficient KYC

THE Anti-Money Laundering Council (AMLC) said it will impose sanctions on organizations with lax internal controls against money laundering, including those that demonstrate shortcomings in meeting know-your-customer (KYC) rules and training standards.

In Regulatory Issuance No. 5 Series of 2020 published in BusinessWorld Tuesday, AMLC said a unit of its Detection and Prevention Department, the Compliance and Supervision Group, will monitor compliance of covered persons under the Anti-Money Laundering Act, the Terrorism Financing Prevention and Suppression Act and other AMLC rules.

“Consistent with the policy to exact compliance with these laws and issuances and to impose proportionate and dissuasive sanctions for non-compliance, the AMLC may use enforcement actions to require covered persons to take timely action to correct deficient practices,” the AMLC said.

The deficient practices include violations of know-your-customer procedures for banks, inadequate transaction and account monitoring, inadequate internal audit, non-compliance with record-keeping rules, and insufficient training in detecting and deterring money laundering.

Covered persons include banks and quasi-banks, insurance companies and their agents, and jewelry dealers.

The AMLC said the sanctions include warnings, compliance letters, compliance complaints, and a review of transactions those classified as covered persons.

The AMLC may also conduct a compliance test or appoint an independent external auditor to look into covered persons’ systems and processes.

The AMLC has the power to order covered persons to return funds or property subjected to a freeze order by a court. The AMLC may also issue a public advisory on its website regarding the non-compliance and other findings following an examination of covered persons.

The Philippines is under an observation period that was extended to February 2021 from the initial deadline set in October. During this time, the country is expected to address the gaps in its anti-money laundering and counter-terrorism financing rules.

Failure to pass the review will put the Philippines at risk of inclusion in the gray list of countries deemed lax in enforcing money laundering rules.

Amendments to the Anti-Money Laundering Act, which will grant more subpoena powers to the AMLC, remains pending in Congress. — Luz Wendy T. Noble

Higher power rates blamed on coal-fired power plant shutdowns

A SUSTAINABILITY think tank blamed the rise in average power rates last year on power plant shutdowns, which it deployed as an argument against the continued reliance on coal-fired generating facilities.

“The power crisis of 2019, where many of the over 60 instances of red and yellow alerts were recorded during the summer months largely due to unexpected shutdowns of coal-fired power plants, caused price fluctuations that sent electricity rates soaring,” Center for Energy, Ecology, and Development Executive Director Gerard C. Arances said.

The Department of Energy (DoE) reported that the national average electricity rate was P8.41 per kilowatt-hour (kWh) at the end of December, up P0.06 from a quarter earlier. The estimate is part of a periodic data release to update on the progress of the implementation of Republic Act No. 9136, or the Electric Power Industry Reform Act.

The rise in the average power rate is “another question posed as to why DoE is still intent on maintaining and even intensifying our dependence on costly and unreliable electricity from coal for our power needs,” he said.

The DoE maintains a “technology-neutral” stance on power sources, with project proponents gravitating towards mature, bankable technologies like coal power because the costs and risks are broadly understood. It has a target of sourcing 35% of the country’s power from renewable sources over the next decade.

The Luzon and Mindanao grids posted quarter-on-quarter increases of P0.15 to P8.53/kWh and P0.06 to P8.41/kWh, respectively, while the Visayas grid average declined P0.02 to P7.75/kWh.

Electric cooperatives’ average rates fell P0.13 to P9.57/kWh at the end of December, while the average rate among private distribution utilities was at P6.54/kWh at the end of March 2020.

The DoE noted the highest average power rate was recorded in March by Mindanao’s Cagayan Electric Power and Light Co. at P10.85/kWh, while the lowest average rate was registered by Aboitiz Power Corp.’s Lima Enerzone in Luzon at P4.82/kWh.

Manila Electric Co. (Meralco), the country’s largest power utility with around seven million customers, recorded a 9.53% drop in its average rate to P7.97/kWh in March 2020 from P8.81/kWh in December 2019.

The average residential rate fell P1.56/kWh to P9.00/kWh at the end of December, driven by the drop in generation, transmission, and universal charges as well as taxes and subsidies, the DoE said.

The Philippines could have benefited from a 30% reduction in electricity charges if it is primarily powered by renewable sources, Mr. Arances said.

“There is no reason why we should continue relying on coal when we have an abundant supply of cheap and clean energy from renewable sources just waiting to be tapped,” he said.

Last year, renewable power accounted for 20.8% or 22,044 gigawatt-hours of power generated, with coal accounting for 54.6%. — Adam J. Ang

Bamboo given major role in DENR reforestation plan

ENVIRONMENT Secretary Roy A. Cimatu said his department has set a target of planting bamboo over 16,867 hectares in 2020 in order to augment the country’s forest cover.

During the recent House of Representatives budget hearing of the Department of Environment and Natural Resources (DENR), Mr. Cimatu said the agency’s Enhanced National Greening Program (ENGP) will involve bamboo.

“We intend to make amendments in the ENGP to increase the country’s production of bamboo. The shift to bamboo would help improve the country’s forest cover,” Mr. Cimatu said.

Mr. Cimatu said that bamboo helps address climate change as it is a sustainable alternative to wood.

According to the DENR, bamboo absorbs greenhouse gases and produces 35% more oxygen than trees of equivalent size.

“The plant’s strong and extensive roots prevent soil erosion and landslides. It can hasten aquifer recharge in a watershed and is a source of food and biofuel in the form of charcoal and briquettes,” the DENR said.

Forest Management Bureau (FMB) Director Lourdes C. Wagan said the DENR and FMB plan to raise public awareness of bamboo’s benefits culminating in World Bamboo Day on Sept. 18.

“This recognition of the increasing economic value of bamboo, and its vital role in forest recovery and climate change adaptation and mitigation are the reasons the DENR and FMB are taking part in this annual event,” Ms. Wangan said.

The DENR is organizing bamboo planting events in Quezon City on Sept. 18, and the virtual launch of an advocacy group focused on bamboo awareness and development called Kilusang 5K (Kawayan, Kalikasan, Kabuhayan, Kaunlaran, and Kinabukasan). — Revin Mikhael D. Ochave

One four all: Expanding the SEC’s online registration

In the last decade, there have been both substantial and minor revisions in government policy affecting not only corporate governance but also registrations. One of these was Republic Act (RA) No. 11232 or the Revised Corporation Code (RCC) of the Philippines, passed early last year. A notable amendment introduced by the RCC is that investors are now permitted to form One Person Corporations (OPCs) and corporations with two to four incorporators, directors, and stockholders.

With the constant revisions in our laws and regulations and the shift to the new normal, many businesses have turned to online channels and platforms to carry on. Many small online businesses have in fact sprouted, with business owners who might find the OPC to be an attractive prospect.  Has the Company Registration System (CRS), the online registration portal launched by the Securities and Exchange Commission (SEC) back in November 2017, caught up with the times on its third year?

Perhaps in response to this question, the SEC issued a notice in April, giving way to the opening of an interim registration system (IRS). This initiative is to accommodate the online registrations of corporations with less than five incorporators, including OPCs.

Yes, the system has been up for months but most of us may not yet be aware of it, with the SEC notice perhaps having escaped our watch.  As a proactive initiative, on Aug. 26, the SEC created a link to the IRS under the “Online Services” tab on its website to make it more noticeable and accessible. The IRS link has a sub-tab name “OPC and 2-4 Incorporators Registration System” and can directly be accessed through https://apps004.sec.gov.ph:8001/application.

Before the IRS, registrations of corporations with less than five incorporators were still filed manually at the SEC offices since these were not captured by the CRS. When the pandemic hit, triggering a strict lockdown and quarantine protocols, the manual process was crippled. With social distancing the norm, there is a compelling need to integrate technology into existing processes and to digitalize the services offered to the public.

While the system is only for the interim, it is very timely and safer for the public that the IRS join the CRS as part of the SEC’s online portals for company registrations during the pandemic. Both online systems support the SEC’s continuous push to ease doing business in the Philippines.

The separation of the IRS from the CRS prevents the concentrated influx of transactions in one of the systems that often cause the system to slow down, or crash. Having distinct online sites for each system in place allows for a smoother flow of the application and greater control in the volume of transactions.

While the IRS works similarly to the CRS, their key difference lies in the type of applicants they cater to based on the number of incorporators. To give a better insight into how it works, below is a guide to navigating the IRS:

• The applicant or duly authorized representative must fill out the required details such as the proposed name and trade name/s (if any), industry type, principal office address, capital structures, and other pertinent and essential information to accomplish the corporate profile.

• A valid contact number and e-mail address must be indicated where all communications and notifications from the SEC will be conveyed.

• After successfully submitting the form, an application reference number will be assigned for easy tracking.

• The SEC Company Registration and Monitoring Department (CRMD) will review the application within three working days from the online submission. However, since almost all the transactions of the SEC are currently done online, the turnaround time may take longer. The results of the application will be sent to the e-mail address provided by the applicant.

• If approved, the applicant may proceed to pay the registration fees as stated on the Payment Assessment Form sent to his e-mail. The proof of payment, together with the hard copies of the complete, signed, and notarized registration documents and other supporting documents, must be submitted to the SEC within 30 calendar days from the payment of the registration fees.

• If a disapproval notice is received, the applicant may opt to reapply after considering the modifications and comments indicated on the notice.

To reduce the risk of virus transmission via face-to-face interactions, the SEC urges the public to direct queries and follow-ups regarding the status of their applications through the CRMD’s available e-mail addresses and interim hotlines as listed on the SEC website.

Unlike the CRS, the IRS does not generate any registration documents. Hence, the applicant must still manually prepare them. The Certificate will be manually released upon physical submission of the complete requirements.

With high hopes, I look forward to the day when the registration process is fully automated from start to finish. While most people may not be ready to receive only electronic registration certificates, perhaps improvements can be introduced slowly. For now, given the health risk of traveling to and from the SEC especially for those taking public transportation, perhaps the SEC can consider the option of allowing registrants to submit the hard copies of the requirements and receive the Certificates via courier.

Of course, like every pilot, the IRS is not spared from birth pains. There is the risk of a system crash or technical errors during application or submission. Indeed, the registration process still has a long way to go to be efficiently and fully automated; nonetheless, the IRS is a leap headed towards achieving that goal.

As organizations shift to the new normal during the pandemic, recognizing the growing importance and advantage of successful technology integration in system processes is a high priority, so does the SEC continue to innovate and adapt most effectively and efficiently to keep abreast of the ever-changing times.

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.

 

Cyril B. Pestilos is a manager at the Tax Services Department of Isla Lipana & Co., the Philippine member firm of the PwC network.

+63 (2) 8845-2728

cyril.b.pestilos@pwc.com

Shopping is moving online, esports are going the other way

It still surprises many people that professional video-game tournaments fill 50,000-seat arenas and that millions of fans watch from their bedrooms, aspiring to compete themselves one day. What hasn’t passed some entrepreneurs by, however, is that this is quietly fueling a big market opportunity.

Amateur teams are springing up specializing in esports games such as League of Legends, Counter-Strike, and Dota 2, and they want places to meet and compete. Vacancies in city centers created by the shift to online shopping and magnified by the pandemic are perfectly placed to fill the gap, according to several executives.

Simplicity Esports has about 40 gaming centers in 15 US states, which let amateurs meet and play together on high-end computers without worrying about cheaters or slow network connections. Its president, Roman Franklin, said that since January he’s seen a 40% to 70% improvement in lease terms for potential new venues. At some locations, he said, the company has secured flexible rents representing 10% of the sites’ gross sales, with no minimum rent and no other costs.

“I’m seeing lots of opportunities to continue the expansion of our footprint,” said Mr. Franklin.

Nasdaq-listed Allied Esports Entertainment Inc. is planning to build additional venues modeled on its flagship esports hub. Built inside The Luxor in Las Vegas, the 30,000-square-foot HyperX Esports Arena opened in 2018 and is kitted out with gaming PCs and consoles loaded with a variety of esports titles. It also hosts weekly tournaments and events.

After starting with arenas in China and mobile gaming centers mounted on 18-wheeler trucks, Allied Esports brought in real estate giants Brookfield and Simon Property Group Inc. as shareholders to further expand its bricks-and-mortar business.

“That’s creating access in the right places,” said Allied Esports Chief Executive Officer Jud Hannigan. After pausing work due to the pandemic, he’s waiting for the right moment to resume development of three sites.

“The industry is obviously going through a difficult patch here,” said Mr. Hannigan. But, he said, “we believe in malls successfully moving to be experience destinations, not just retail destinations.”

Amateur Fortnite or League of Legends fanatics inspired by high-profile gamers—such as Kyle “Bugha” Giersdorf, the 16-year-old who won $3 million in the 2019 Fortnite World Cup final—want to practice and compete in environments where no one can gain a technical advantage and it’s harder to cheat.

“Playing from home is like playing basketball in your driveway—the hoop may not be 10 feet high and the driveway might be a bit sloped at the front,” said Zack Johnson, CEO of esports services company GGCircuit, which develops and sells cloud-based software used by about 1,000 esports centers around the world.

“The camaraderie in person is so much better than playing with a headset,” he said. “It’s important to be able to high-five and fist-bump and hug, and look across a table and see a real human being not just an avatar.”

Industry executives say lockdowns impacted and delayed brick-and-mortar expansion plans, but Mr. Johnson said more than half of the 20,000 screens that run on its equipment are now back online after lockdowns.

Venues were appearing across Europe before the pandemic too, led by a crop of young companies such as France’s Team Vitality and Meltdown, Sweden’s Space, and London-based Game Digital’s Belong network.

Kinguin runs a 6,560-square-foot bootcamp-hotel for professional teams in Warsaw. It’s now going after the amateur market and opened an Esports Lounge in the port city of Gdansk in June.

CEO Viktor Wanli said the site is operating at half capacity due to social distancing but demand is clear. “We’re having days where gamers have to wait in lines to occupy a station,” he said.

Vindex LLC, an esports company established by the founders of Major League Gaming, bought Belong in July and wants to open more than 1,000 venues worldwide.

And traditional sports stars are no stranger to the potential: Guild Esports, part-owned by English soccer star David Beckham, last week announced plans for an initial public offering that will help fund a training academy and scouting network. — Bloomberg

TikTok’s fast-growing China twin has 600 million daily users

Douyin, the Chinese-market version of ByteDance Ltd.’s TikTok video-sharing app, surpassed 600 million daily active users in August, rising from 400 million at the start of the year.

The service has produced 41.7 billion yuan ($6.1 billion) in revenue for more than 22 million creators over the past year and the company intends to spend $1.5 billion in a push to double that figure over the next 12 months, said ByteDance China Chief Executive Officer Kelly Zhang. Speaking at the Douyin Creator Conference Tuesday, Ms. Zhang detailed the growth of Douyin’s audience and the efforts to bolster and diversify income streams for creators.

ByteDance has seen its international hit TikTok banned in India and under existential threat in the US, where the company is negotiating a deal to appease authorities in partnership with Oracle Corp. That makes Douyin, already an important growth driver, even more critical to the parent company’s fortunes. ByteDance previously disclosed that its global stable of apps has 1.5 billion monthly active users.

Started in 2016, Douyin has overtaken older rivals like Tencent Holdings Ltd.-backed Kuaishou to become China’s biggest short-video-sharing platform, with the backing of ByteDance’s powerful algorithms. While advertising remains a major revenue stream for Douyin as well as ByteDance as a whole, Douyin has in recent years introduced new features including live streams and e-commerce that allow users to spend more time and money within the app.

Reputable Douyin creators are able to set up their own in-app stores—featured prominently on their profile pages and linked to during their online sessions—that hawk everything from lipstick to smartphones. This transformation also offers one potential road map for TikTok. — Bloomberg

US blacklists Chinese company over Cambodia project

WASHINGTON/PHNOM PENH — The United States on Tuesday blacklisted a Chinese developer of a port, airport and resort complex in Cambodia, saying it was built on land seized from local people and there were “credible reports” it could be used to host Chinese military assets.

Union Development Group Co. Ltd is building the huge Dara Sakor complex in a national park on the Cambodian coast, with a runway capable of taking some of the world’s biggest planes.

The Chinese real-estate development company describes it as the largest regional development project in China’s global Belt and Road infrastructure initiative.

The company and the Cambodian government have repeatedly denied Western media reports that the project has military aims.

Secretary of State Mike Pompeo said there were “credible reports” that Dara Sakor “could be used to host (Chinese) military assets.”

“If so, (this) would go against Cambodia’s constitution and could threaten Indo-Pacific stability, possibly impacting Cambodia’s sovereignty and the security of our allies,” he added in a statement.

The US Treasury Department described the company as a Chinese state-owned entity, and said it had at one point falsely registered as Cambodian-owned to get land for the project.

Projects funded by the firm had “forced Cambodians from their land and devastated the environment, hurting the livelihoods of local communities,” it said.

Union Development Group was not immediately available for comment. Cambodian government representatives and the Chinese embassy in Washington did not immediately respond to requests for comment.

The company is registered in Cambodia as a private limited company, with its chairman listed as Li Tao. Its website says Union Group was formerly known as Tianjin Wanlong Group, a Chinese real estate developer.

REGIONAL TENSION
Southeast Asia has become one front of growing tensions between the United States and China, with the rivals at odds over Beijing’s territorial claims in the South China Sea and upstream damming of the Mekong River.

The US Treasury Department statement cited Cambodian government spokesman Phay Siphan as having said Dara Sakor could be converted to host military assets.

It did not say when he said this. In a 2019 Bloomberg News article, Phay Siphan said: “Dara Sakor is civilian — there is no base at all. … It could be converted, yes, but you could convert anything.”

Cambodia’s government has repeatedly said the country will not serve as a base for any foreign army. It has become one of China’s closest regional allies in recent years.

The US sanctions were imposed under the Global Magnitsky Act, which allows the US government to target human rights violators worldwide by freezing assets and prohibiting Americans from doing business with them.

“A permanent (Chinese) military presence in Cambodia could threaten regional stability and undermine the prospects for the peaceful settlement of disputes, the promotion of maritime safety and security, and the freedom of navigation and overflight,” the US Treasury statement said.

The Belt and Road initiative is China’s flagship campaign to build infrastructure across Asia, linking it to Europe. Work began on the Dara Sakor project in 2008 after Cambodia leased 45,000 hectares (111,200 acres) in a national park to the Chinese company for 99 years.

The company said it planned to invest $3.8 billion, building a resort with residential areas, businesses and industry. The airport would be operational by the end of this year, UDG board chairman Li told Cambodian media last month. — Reuters

Pfizer’s COVID vaccine study shows mild and moderate side effects

PFIZER, INC said on Tuesday participants were showing mostly mild-to-moderate side effects when given either the company’s experimental coronavirus vaccine or a placebo in an ongoing late-stage study.

The company said in a presentation to investors that side effects included fatigue, headache, chills and muscle pain. Some participants in the trial also developed fevers — including a few high fevers. The data is blinded, meaning Pfizer does not know which patients received the vaccine or a placebo.

Kathrin Jansen, Pfizer’s head of vaccine research and development, stressed that the independent data monitoring committee “has access to unblinded data so they would notify us if they have any safety concerns and have not done so to date.”

The company has enrolled more than 29,000 people in its 44,000-volunteer trial to test the experimental COVID-19 vaccine it is developing with German partner BioNTech.

Over 12,000 study participants had received a second dose of the vaccine, Pfizer executives said on an investor conference call.

The comments follow rival AstraZeneca’s COVID-19 vaccine trials being put on hold worldwide on Sept. 6 after a serious side effect was reported in a volunteer in Britain.

AstraZeneca’s trials resumed in Britain and Brazil on Monday following the green light from British regulators, but remain on hold in the United States.

Pfizer expects it will likely have results on whether the vaccine works in October.

“We do believe — given the very robust immune profile and also the preclinical profile … that vaccine efficacy is likely to be 60% or more,” Pfizer’s Chief Scientific Officer Mikael Dolsten said. — Reuters

Nuggets complete comeback

LA Clippers eliminated in Game Seven
Miami Heat draw first blood in East Finals

JAMAL MURRAY scored 40 points, and the Denver Nuggets completed a stunning comeback in the Western Conference semifinals with a 104-89 victory over the Los Angeles (LA) Clippers in Game 7 on Tuesday at the NBA bubble near Orlando.

The third-seeded Nuggets became the first NBA team to rally from 3-1 deficits twice in the same postseason. They defeated the Utah Jazz in the first round. Denver will meet the top-seeded Los Angeles Lakers in Western Conference finals, beginning Saturday.

Murray, who also had five assists, connected on 15 of 26 shots, including six of 13 from 3-point range. Nikola Jokic had 16 points, 22 rebounds and 13 assists for Denver, and Jerami Grant and Gary Harris contributed 14 points apiece.

Montrezl Harrell had 20 points for the second-seeded Clippers, who have never advanced to the Western Conference finals in franchise history. The franchise is 0-8 when it had a chance, dating back to its days as the Buffalo Braves.

Kawhi Leonard managed just 14 points, Patrick Beverley scored 11 and Paul George finished with 10. Leonard shot six of 22 while George was four of 16 from the floor.

A 3-pointer by Murray gave Denver an 89-74 lead with 8:48 remaining to cap a 7-0 run to open the fourth quarter. The Clippers went more than seven minutes without a field goal in the final period. The Nuggets took advantage, boosting the lead to 100-80 on a dunk by Jerami Grant with 2:10 left.

In the third, the Nuggets took control. After falling behind by seven, they used a 16-2 surge for a 70-63 lead after a 3-pointer by Harris with 5:54 left in the quarter. They went up as much as nine in the third before taking a 82-74 advantage heading into the fourth quarter.

Denver outscored Los Angeles 28-18 in the third.

The Clippers, who led by as much as 12 in the first half, held a 56-54 edge at the break. Murray had 25 points in the first half.

Overall, the Nuggets outshot the Clippers 49.4% to 37.8%.

HEAT SINK CELTICS IN OT
Jimmy Butler fought through traffic for the game-winning bucket with 12 seconds remaining in overtime as the Miami Heat edged the Boston Celtics 117-114 in Game 1 of the Eastern Conference finals Tuesday night near Orlando.

Butler drew a foul on the play and made the free throw to put the Heat up 116-114. Bam Adebayo blocked Jayson Tatum’s attempt to tie the score with 3.7 seconds remaining, and after Adebayo made 1 of 2 at the free throw line, Tatum missed on a 3-point attempt as time expired to seal the result.

“He made a great play,” Tatum said of Adebayo’s block. “That’s all it is. He made a good play, can’t do anything about it.”

Butler added, “That sealed the game for us… (Adebayo is) a huge part to why we’re winning — I’ve been saying it all year long, and I’ll repeat it again.”

Goran Dragic led the Heat with 29 points with seven rebounds, Jae Crowder added 22 and sunk five 3-pointers, and Butler scored 20 for the Heat, who won for the ninth time in 10 playoff games. Adebayo had 18 points and nine assists, and Tyler Herro fell an assist shy of a triple-double (12 points, 11 rebounds, 9 assists).

Tatum had a game-high 30 points with 14 rebounds, Marcus Smart scored 26, and Kemba Walker had 19 for the Celtics. Walker put Boston up 114-113 on a step-back bucket with 23.6 seconds left in overtime.

Game 2 of the best-of-seven series will take place Friday.

“It was a great win. We’re up 1-0, but we got three more to get,” Adebayo said.

The Celtics led by 14 early in the fourth quarter before the Heat got within 101-98 on a Herro 3-pointer with 3:17 remaining. Boston went up 105-100 on a shot-clock-beating floater by Walker with 1:09 left, but Herro drained another trey at 1:02 to cut the deficit to two.

A Butler step-back three made it 106-105 Heat with 22 seconds left, but Derrick Jones Jr. committed a foul before the ensuing inbound pass to allow Tatum to knot the score with a free throw as the Celtics retained possession. Tatum missed a 3-point attempt at the buzzer to force overtime.

Boston led 83-71 entering the fourth after Miami was held to a playoff-low 16 points in the third quarter. The Heat went one of eight from 3-point range in the period, undoing a scorching shooting performance in the second that had forged a 55-all halftime tie.

The Heat trailed by as much as 13 in the first quarter before outscoring the Celtics 37-29 in the second. Miami shot 68.1% in the second period, including six of eight from beyond the arc.

“Gotta tip your hat off to those guys,” Smart said. “They executed very well down the stretch, we didn’t.” — Reuters

GAB chairman Mitra to lead pro chess league launch

GAMES and Amusements Board (GAB) Chairman Abraham “Baham” Mitra will lead the introductory press conference of the Professional Chess Association of the Philippines (PCAP) on Thursday via Google meet.

Joining him are PCAP founding commissioner, Atty. Paul Elauria, and other league officials.

Grandmaster Rogelio “Joey” Antonio Jr. believes more top players will come out from the grassroots level with the advent of the country’s first-ever professional chess league.

Antonio, a 13-time national champion, is among the invited speakers in the launching of the league.

“This will inspire kids to play chess, like the way the PBA inspired kids to play basketball,” Antonio said. “It will be another motivation for them to get better and aim higher.”

Asia’s first GM Eugene Torre, WIM Bernadete Galas and NM Marlon Bernardino are also invited to give their piece.

A brainchild of Elauria, the league aims to provide a new platform for Filipino chess players and give them a steady source of income.

“This is a start of a new era in chess. We want to elevate the status of our chess players and make them level with other professional athletes,” said Elauria.

Players need to apply for a GAB license to become eligible to play. All GAB-licensed players will be included in the PCAP Draft. The order of the draft will be determined by drawing of lots.

PCAP will be composed of approximately 32 LGU-based but privately-owned chess teams with a minimum of eight and maximum of 10 players under contract.

Each team will field six regular players composed of two rated players, one female, one senior and two homegrown players.

Players will get standard contract with minimum and maximum salaries based on salary caps agreed by all the teams.

The participating teams will be divided into two conferences: Northern Conference for Luzon-based teams and Southern Conference for Visayas and Mindanao-based teams.

Already confirming their participation are the Baguio Lion Kings, Bataan Marching Heroes, Bulacan Bloody Bishops, Cagayan Valley Kings, Makati Red Gambits, Manila Noble Knights, Mindoro Golden Tamaraws, Palawan Beach Masters, San Juan City, Pampanga, Pasay, Subic Knightmares, and Tarlac Top Guns. Also interested to join are ARMM, Batangas, Bohol, Cavite, Cebu, Cotabato, Davao, General Santos, Ilocos, Iloilo, Laguna, Leyte, Misamis, Negros, Pangasinan, Quezon, Rizal, Surigao, and Zamboanga. — Marlon Bernardino

EJ Obiena to compete at Golden Gala in Italy

TOKYO Olympics-bound Filipino pole-vaulter EJ Obiena treks back to the field on Thursday to compete at the Golden Gala in Italy.

Had it steady in the last few weeks as he continues to prepare for his Olympic quest, 24-year-old Obiena is looking to stay sharp in the Rome leg of the Diamond League.

Mr. Obiena, 16th-ranked in the world, is coming off a gold, medal-winning performance at the 59th Ostrava Golden Spike in the Czech Republic last week, a showing made all the more impressive because he was up against some of the top pole-vaulters in the world.

At the Otrava tournament, which is a gold-tier event of the World Athletics Continental Tour, Mr. Obiena was in his element in notching a personal season-best 5.74 meters to win the gold.

Mr. Obiena edged France’s Renaud Lavillenie by way of countback after the two cleared similar heights on their second attempts.

Mr. Lavillenie was the silver medallist in the 2016 Olympics in Rio, Brazil.

Finishing third in the Czech Republic event was Sam Kendricks of the United States, who cleared 5.64 meters.

Completing the top five were Rio Olympics gold medallist Thiago Braz of Brazil with 5.64, and Raphael Holzdeppe of Germany with 5.54 meters.

“Thank you God for the long, awaited win. I offer this to Your given grace,” said Mr. Obiena on a Facebook post following his victory.

“Truly grateful for the gold medal win at the 59th Ostrava Golden Spike Tournament held at the Czech Republic, against the world’s bests in pole vault. Thank you Philippines, truly proud to represent you,” he added.

The Filipino pole-vaulter, who won a gold medal for the Philippines in last year’s Southeast Asian Games, has been a steady fixture on the podium since resuming his season, disrupted by the coronavirus pandemic.

On Aug. 29, he won a bronze in the Monaco leg of the Diamond League.

He also won a bronze recently at the Poznan Athletics Grand Prix 2020 in Poland.

Mr. Obiena qualified for the rescheduled Olympics in 2021 last year in Chiara, Italy, where he jumped 5.81 meters, above the Olympic standard of 5.80.

He is one of four Filipinos who are already assured of a spot in the quadrennial Games, the others being gymnast Carlos Yulo, and boxers Eumir Felix Marcial and Irish Magno. — Michael Angelo S. Murillo

Milo, BEST Center adapt, take basketball program online

By Michael Angelo S. Murillo, Senior Reporter

FACED by the challenging conditions amid the coronavirus pandemic, Milo and BEST Center are adjusting accordingly, taking their long-time basketball program online so as to continue fostering their vision for the sport.

Speaking at the online Philippine Sportswriters Association Forum on Tuesday, officials of both Milo and BEST Center shared going to the digital space, part of the umbrella Milo Home Court campaign, is a whole new ball game for them but something that had to be done and they are determined to succeed at.

“We have expanded our Milo Home Court program with the BEST Center to help and show kids that their dreams and aspirations can still be pursued,” said Luigi Pumaren, Milo Sports Executive, at the forum.

“Through these programs, parents can help their children advance their basketball skills through various classes and tournaments that espouse BEST Center’s scientific methods. With this partnership, we are able to continue our commitment of nurturing and inspiring young athletes to become champions of tomorrow,” he added.

The BEST Center’s Interactive Basketball Clinic, set to begin on Sept. 26, is a modular online class that provides students in-depth instruction and guidance to help them master their techniques at home.

Through it, children will be taught basic basketball drills such as dribbling, ball handling, and shooting. Each class will comprise a maximum of eight students led by two coaches to ensure that quality training will be provided for students.

A week earlier on Sept. 19, meanwhile, kids can have the chance to learn from the country’s most recognizable individuals with BIDA Best, an online webcast. Viewers will be able to hear directly from Milo BEST Center’s notable graduates as they will come together in a one-hour interview session to share their athletic and life experiences.

Expected to grace the webcast are Kiefer and Thirdy Ravena, Shaun and Dave Ildefonso, Andre Caracut, Chris Tiu and Benjie Paras.

BIDA Best will go live every Saturday evening at 7:30 p.m.

Then, since quarantine setups still do not allow on-ground tournaments and sporting events, a Skills Challenge will be held so as to provide children the opportunity to apply the techniques they have learned.

“We recognize the need to adapt to innovation, and by doing so, we are able to bring our expertise to a wider audience so that more kids will have the opportunity to develop their skill sets with our trusted mentors,” said Monica Jorge, Executive Vice President, BEST Center.

“It is going to be a challenge, of course, but we believe online classes will still be effective. This is different from the way we do things in the past. Nonetheless, we are determined to make it work,” she added.

The Interactive Basketball Clinic comes with a fee of P1,750 that covers eight classes, done twice a week for one hour per session. To reserve a slot, interested parents can reach the BEST Center through call (09178013533) or e-mail (bestcenter.inquiry@gmail.com).

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