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Rural utilities warn delayed bill payments to have serious impact on industry

THE delayed payment of power bills during the entire quarantine period will have a serious impact on the entire power supply chain, electric cooperatives warned.

Government orders to allow delayed payments during even the less strict forms of quarantine “will have a huge economic impact on the entire electric power supply chain,” the Philippine Rural Electric Cooperatives Association (Philreca) and National Association of General Managers of Electric Cooperatives (Nagmec) said in a joint statement issued late Wednesday.

“(E)lectric cooperatives can only absorb so much in terms of decreased or no cashflow that might result from the mandatory grace period or staggered payments,” they said.

The Department of Energy (DoE) in an advisory issued Sept. 23 ordered the energy industry to continue providing at least a 30-day grace period after the easing of stricter forms of quarantine and allowing installment payments on power bills in arrears. Rural utilities and their managers sought clarification from the government’s task force on emerging infectious diseases and the Joint Congressional Energy Committee whether a provision in Republic Act No. 11494, or the Bayanihan to Recover as One Act (Bayanihan II), compels them to relax their collection policies during the enhanced and modified enhanced community quarantine only, or throughout all forms of quarantine.

About 80% of consumer electric bill payments ultimately go to power suppliers, transmission firms, taxes, and pass-through charges, while the rest goes to the utilities, they said.

“If this meager amount will not be paid to the ECs (electric cooperatives), their operations will significantly be affected,” the two organizations said.

In the advisory, Energy Secretary Alfonso G. Cusi urged those “who are capable to pay” to settle their bills within the original due dates “to lessen the impact and help manage the cash flow in the energy supply chain.”

Philreca and Nagmec also requested the Energy Regulatory Commission (ERC) to allow them to take advantage of prompt- payment discounts even when they make partial payments to suppliers.

“Everything is still being studied for consideration,” ERC Commissioner Floresinda G. Baldo-Digal said in a message. The regulator has yet to issue its industry-wide guidelines to implement the DoE advisory. The organizations also asked the commission to adjust the capital recovery fee and minimum energy off-take provisions in their power supply agreements. — Adam J. Ang

SB Corp. receives P10B for loan program, to take applications next week

THE Small Business Corp. (SB Corp.) said it will start accepting loan applications on Oct. 26, after receiving an allocation of P10 billion for lending to micro, small and medium enterprises (MSMEs).

Under the Bayanihan to Recover as One Act (Bayanihan II) or Republic Act 11494, SB Corp. is authorized to lend P10 billion more for its COVID-19 Assistance to Restart Enterprises program, with P6 billion set aside for the tourism sector.

Loan sizes will depend on MSMEs’ assets and annual sales, the Trade department said in a statement Thursday. It said it will allocate the loans in such a way as to maximize the number of borrowers.

Borrowers will be charged a one-time service fee of between 4% and 8%, which will vary by loan duration. The maximum term is four years. Payments come with a grace period of six months, and one year for tourism businesses.

MSMEs with financial statements for 2018 and 2019 filed with the Bureau of Internal Revenue, with no major negative credit track record, are assured of receiving loans, the department said.

Applicants with no financial statements must submit their barangay or municipal business permits, photos or video clips of their business assets, and proof of sales.

SB Corp. targets 50,000 loan approvals for MSMEs over the rest of the year, or a monthly rate of 15,000 to 18,000 borrowers. — Jenina P. Ibañez

Enlistment for clinical trials of anti-flu drug Avigan under way

THE RECRUITMENT of patients for clinical trials of the Japanese anti-flu drug Avigan against the coronavirus has started, the Department of Health (DoH) said on Thursday.

One hundred patients will be recruited from the Philippine General Hospital, Sta. Ana Hospital, Dr. Jose N. Rodriguez Memorial Hospital and Quirino Memorial and Medical Center, Health Undersecretary Maria Rosario S. Vergeire told an online news briefing.

The hospitals have had a hard time trying to enlist patients for the vaccine made by Fujifilm Toyama Chemical Co., Ltd. since trials are also happening for other drugs, she said. Health officials met with hospital representatives on Friday to discuss the enlistment.

“So we are still pursuing the recruitment,” Ms. Vergeire said. “We will ask help from our medical directors at these hospitals so we can fast-track the trials,” she said in Filipino.

The Health department reported 1,664 coronavirus infections on Thursday, bringing the total to 363,888.

The death toll rose by 38 to 6,783, while recoveries increased by 843 to 312,333, it said in a bulletin.

There were 44,772 active cases, 83.6% of which were mild, 11.2% did not show symptoms, 1.9% were severe and 3.3% were critical.

Cavite reported the highest number of new cases with 81, followed by Malabon City and Davao City with 76 each, Iloilo City with 75 and Quezon City with 69.

Of the new deaths, 11 came from Metro Manila, eight from the Calabarzon region, seven from Davao and six from Western Visayas, the agency said.

Central Visayas reported three new deaths, while Soccsksargen reported two and Cagayan Valley reported one death. More than 4.2 million people have been tested for the coronavirus, DoH said.

The coronavirus has sickened 41.5 million and killed about 1.1 million people worldwide, according to the Worldometers website, citing various sources including data from the World Health Organization (WHO).

About 31 million people have recovered from the virus, it said.

It added that active cases stood at 9.5 million, 1% of which or 74,213 were either serious or critical.

The United States had the most infections at more than 8.6 million, followed by India with 7.7 million and Brazil with 5.3 million. The US also had the most deaths at 227,409, Brazil had 155,459 and India had 116,681.

DoH on Monday said it was P10.5 billion short of funds for coronavirus vaccines to cover a fifth of the Philippines’ more than 100 million population.

The agency needs more than P12 billion to inoculate priority groups including health workers and the poor, Ms. Vergeire said. It only has allotted P2.5 billion for vaccines in its P204-billion budget for next year. The cost considered two doses for each person, she said.

The Philippines has funds to buy coronavirus vaccines but it needs more so the entire population of more than 100 million could be inoculated, President Rodrigo R. Duterte said last week. He said he would look for more funds so all Filipinos could be vaccinated, adding that he was okay with vaccines developed either by Russia or China.

Marikina Rep. Stella Luz A. Quimbo at the weekend said vaccinating 20 million Filipinos would cost almost P13 billion. She added that the budget was only enough to cover 3.9 million Filipinos at a testing price of P641 each.

Some lawmakers have said intelligence funds of the Executive branch should be channelled to the health sector. — Vann Marlo M. Villegas

Gov’t eases limits for shopping malls ahead of year-end holidays

THE GOVERNMENT has allowed shopping malls to turn on free WI-FI and lower air conditioning temperature ahead of the holiday season as part of easing measures against the coronavirus.

Malls may also conduct doorbuster sales, according to the Trade department. People between 15 and 65 years old may go out of their homes, but local governments can set higher age limits, it said in a memo signed on Oct. 20.

These establishments must maintain health protocols, including requiring customers to wear face masks and shields and observe social distancing. The malls must frequently disinfect their premises and provide adequate ventilation.

Malls were earlier allowed to reopen at limited capacities during the stricter lockdowns but were barred from providing free WiFi connection to dissuade people from crowding. Air conditioning was also limited at 26 degrees Celsius.

A Trade memo signed on Oct. 20 removes these restrictions and allows malls to set temperatures lower than 24 degrees. Government agencies such as the Trade, Labor and Health departments will monitor compliance.

The Philippine Chamber of Commerce and Industry last week sought rent relief for smaller tenants of malls and commercial buildings. It said tenants should be allowed to pay a percentage of their sales until their businesses have recovered. — Jenina P. Ibañez

PSEi climbs to 6,300 level on investor optimism

By Denise A. Valdez
Senior Reporter

LOCAL SHARES continued to climb on Thursday on sustained investor bullishness over hopes of an economic rebound in the fourth quarter.

The benchmark Philippine Stock Exchange index (PSEi) landed on 6,344.63 at the close of trading, up 66.04 points or 1.05%. The wider all shares index grew 27.90 points or 0.74% to end at 3,788.75.

The PSEi was posting losses during the first hours of trading as investors were securing profits from the three-day climb of the market. The index opened at 6,309.87 and hit a low of 6,241.31 before recovering and ending the session at its peak of 6,344.63.

“The market continued its upward trend on the prospects of an economic recovery from easing restrictions with deeper and wider reopening of the economy,” Diversified Securities, Inc. Equity Trader Aniceto K. Pangan said in a text message.

The government has been relaxing quarantine rules to facilitate economic activity, such as allowing leisure travel and full capacity operations of hotels.

New coronavirus cases have also been declining in recent weeks, with 1,509 new cases reported on Wednesday, totalling 362,243 local cases since the start of the outbreak.

“Given the speed and magnitude of the run-up, there is a high probability of a technical correction occurring in the next few sessions. A retest of the psychological support level of 6,000 is possible. If the market does maintain itself above this, we could see the market continue its rally to cover the gap at 6,700,” PNB Securities, Inc. President Manuel Antonio G. Lisbona said in a text message.

Four sectoral indices ended Thursday’s session higher: property climbed 81.63 points or 2.72% to 3,076.69; industrials rose 125.28 points or 1.50% to 8,477.59; holding firms gained 62.90 points or 0.97% to 6,510.46; and mining and oil added 49.01 points or 0.64% to 7,693.93.

Two closed in red territory: financials slid 10.56 points or 0.83% to 1,257.65 and services fell 6.21 points or 0.42% to 1,463.26 at the end of trading.

“Thursday’s rally still had conviction with net value turnover posting P9.1 billion, above the year-to-date average of P5.9 billion. Foreigners remained net buyers with Thursday’s net inflows amounting to P214.2 million,” Japhet Louis O. Tantiangco, senior research analyst at Philstocks Financial, Inc., said in a text message.

Total value turnover on Thursday was P9.81 billion with 1.28 billion issues switching hands, lower than Wednesday’s P10.52 billion with 2 billion issues.

Decliners outnumbered advancers, 112 against 100. Some 43 names were unchanged.

“We may see more profit taking on the last trading day for the week. But nonetheless, it will end as one of the best weeks that the market has had in the last few months,” Christopher John Mangun, research head at AAA Southeast Equities, Inc., said in an e-mail.

Peso weakens on US stimulus talks

THE PESO weakened slightly against the dollar on Thursday as the United States hammers out a deal on fresh stimulus to help boost the world’s largest economy amid the coronavirus pandemic.

The local unit closed at P48.60 versus the dollar on Thursday, declining by 1.5 centavos from its P48.585 finish on Wednesday, data from the Bankers Association of the Philippines showed.

The peso opened Thursday’s session at P48.55 per dollar, which was also its intraday best. It weakest showing hit P48.61 against the greenback.

Dollars traded declined to $614.4 million on Thursday from $710.7 million on the previous day.

Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a text message that the peso declined after a further delay in a stimulus deal between US House Speaker and opposition member Nancy Pelosi and the White House.

The dollar treaded water against most major currencies on Thursday as US stimulus talks remained the focus for markets, with trading buffeted by the extent of progress made on the potential size of the aid package, Reuters reported.

The dollar index was nearly flat against a basket of currencies at 92.792, having marked its lowest level since Sept. 2 overnight.

On Wednesday, the dollar weakened to a seven-week low after US President Donald Trump and House Speaker Nancy Pelosi boosted hopes an agreement on stimulus was close, sparking demand for riskier assets.

But prospects remain dim for the Republican-controlled Senate to approve any aid before the Nov. 3 election, as Mr. Trump accused Democrats of being unwilling to craft an acceptable compromise on stimulus.

Separately, Federal Reserve Governor Lael Brainard said the biggest risk to her outlook for economic recovery was that fiscal support from the federal government would be withdrawn too soon.

Meanwhile, a trader said in an e-mail that the peso weakened amid market expectations of more claims for unemployment benefits in the US.

For today, Mr. Ricafort expects the peso to range from P48.55 to P48.65 versus the dollar, while the trader sees it moving from P48.50 to P48.70. — KKTJ with Reuters

Senator says much of COVID-19 funds remain unreleased

THE BUDGET department had not released a significant amount of funds under a law that seeks to boost government response against the coronavirus pandemic, according to a senator.

In an Oct. 21 letter to Executive Secretary Salvador C. Medialdea, Senator Juan Edgardo M. Angara said the funds must be released because the law would expire in less than two months.

“We seek the aid of your good office to encourage all the concerned agencies to fast-track the issuance of the necessary guidelines, preparation of budget execution documents and release of the funds for the proper implementation of the law,” he said.

Mr. Angara heads the Senate finance committee. The so-called Bayanihan to Heal as One Act will lapse on Dec. 19.

Budget officials earlier told senators at a budget hearing P4.4 billion had been released to the Interior and Local department , Office of Civil Defense, Bureau of the Treasury and Foreign Affairs department.

The law provided P140 billion in funds, apart from P25 billion in standby money, to help sectors affected by the pandemic,.

Senators earlier noted that it had been three months since the first Bayanihan law took effect and after a month of enforcing the second law, the government had yet to come up with a detailed plan to help the poor. — Charmaine T. Tadalan

Regional Updates (10/23/20)

Tagum raises alert after 1st swine fever outbreak

THE TAGUM City Veterinarian’s Office has alerted hog raisers to immediately report suspicious animal deaths in their farms following confirmed African Swine Fever (ASF) cases in one community. City Veterinarian Jesus G. Edullantes, in a statement on Thursday, said the outbreak in Barangay Mankilam is already undergoing containment measures while the Bureau of Animal Industry has set up checkpoints to stop the spread of the virus. “It has big economic impact,” Mr. Edullantes said, stressing the high mortality rate for pigs. “Let’s help the industry by still consuming pigs… the meat is safe to eat, but let’s not buy just anywhere, buy certified meat,” he said, citing legitimate sellers in public markets, supermarkets, and shopping malls. The Department of Agriculture reported on Sept. 22 that ASF deaths have reached 316,637 hogs since the outbreak started in August 2019, mostly in Luzon but there have also been previous confirmed cases in Davao Region, where Tagum is located.

Negros Occidental hog raisers sign deal for Luzon supply

HOG RAISERS in Negros Occidental recently signed an agreement to supply Luzon, where pork production has been affected by African Swine Fever outbreaks. Two groups, the Alliance of Hog Raisers Association of Negros Occidental and the Negros Occidental Hog Raisers Association, inked the memorandum of understanding with live hogs trader Albert Lim on Oct. 14 at the Provincial Veterinary Office (PVO). “Negros Occidental swine raisers have been producing fattened or market hogs in excess of the local demand resulting to oversupply that drove the farm gate price of hogs down,” the provincial government said in a statement. PVO head Renante J. Decena said they facilitated the contract, which will allow the province’s hog raisers to supply Luzon “on a regular and scheduled basis.” Negros Occidental has been supplying swine to other parts of the Visayas.

Waste materials intercepted at Subic Port

TWO CONTAINERS of waste materials shipped in from the United States were intercepted at the Subic Bay International Terminal Corp. on October 21, the Bureau of Customs (BoC) reported late Wednesday. The cargo, part of 30 containers consigned to Bataan 2020, Inc., were declared as corrugated cartons for repulping. However, “further examination of the shipment revealed prohibited waste materials which were illegally imported,” BoC said. The bureau, in coordination with the Department of Environment and Natural Resources, is conducting a more extensive evaluation to determine the volume and actual contents of the shipment for possible violations of customs and environmental laws.

Initial agricultural damage from storm Pepito at P67.6M, mainly rice

DAMAGE and losses to agriculture due to tropical storm Pepito are initially estimated at P67.57 million, according to the Department of Agriculture (DA). In a bulletin on Thursday as the typhoon with international name Saudel exited the country, the DA said damage to crops and other agricultural commodities have been reported in the regions of Cagayan Valley, Central Luzon, and CALABARZON (Cavite, Laguna, Batangas, Rizal, and Quezon). Almost 6,000 farmers are affected with 4,672 metric tons (MT) of production volume losses from 7,704 hectares of flooded farmlands. Much of the damage is on rice valued at P60.9 million, followed by corn at P6.01 million. The rest are high-value crops and livestock. The DA said its regional field offices in affected areas have seeds and other interventions ready for distribution. — Revin Mikhael D. Ochave

Snell shuts down LA Dodgers as Tampa Bay Rays even series, 1-1

Blake Snell kept the best offense from the regular season off balance and Brandon Lowe hit two home runs as the Tampa Bay Rays drew even in the World Series on Wednesday with a 6-4 victory over the Los Angeles (LA) Dodgers in Game 2 at Arlington, Texas.

Snell did not give up a hit until the fifth when the Dodgers’ Chris Taylor hit a home run.

Despite a rapidly rising pitch count, the left-hander, in his first career World Series start, befuddled a Los Angeles offense that scored eight runs in a Game 1 victory Tuesday and hit a major league-leading 118 home runs during the regular season. Snell gave up two runs on two hits over 4 2/3 innings with four walks and nine strikeouts while throwing 88 pitches.

Lowe got the Rays’ offense started with a solo home run in the first inning off Dodgers rookie right-hander Tony Gonsolin, then hit a two-run shot in the fifth inning off another Dodgers rookie in right-hander Dustin May.

Gonsolin was used at the outset, but it was essentially a bullpen game because the team did not have a fully rested starter. The Dodgers used three starters Sunday in their Game 7 victory in the National League Championship series against the Atlanta Braves.

Gonsolin (0-1) gave up one run in 1 1/3 innings, becoming the first starting pitcher to record just four or fewer outs in a World Series start since the San Francisco Giants’ Jake Peavy in Game 6 of the 2014 Series. The Dodgers used seven pitchers in the defeat.

The Rays never trailed in winning just the second World Series game in franchise history and the first since Game 2 in 2008 against the Philadelphia Phillies. The Rays lost that series in five games.

The Rays increased their lead to 3-0 in the fourth inning when Joey Wendle hit a two-run double off May.

Lowe’s two-run shot in the fifth off May increased the lead to 5-0. Lowe, who led the Rays in the regular season with 14 home runs, had a hit in each of Tampa Bay’s first two games of the postseason, but was batting .083 with one home run in 13 games since.

Taylor’s two-run home run with two outs in the fifth, his first in 12 games for the Dodgers this postseason, cut the Rays lead to 5-2. Mookie Betts followed with a walk, and Corey Seager singled. Snell was then replaced by right-hander Nick Anderson (1-0). Justin Turner struck out to end the threat representing the tying run.

The Rays increased their lead to 6-2 in the sixth inning on a Wendle sacrifice fly, giving him three RBIs.

The Dodgers got the run back in the bottom of the sixth on a home run from Will Smith off Anderson, and another by Seager in the eighth against Pete Fairbanks to cut the deficit to 6-4.

Los Angeles again had the tying run at the plate in the eighth with nobody out, but Max Muncy flew out and Smith lined out against Fairbanks, while Cody Bellinger struck out against left-hander Aaron Loup.

Diego Castillo recorded the final out of the game, striking out Taylor, to earn his third save of the postseason. — Reuters

TNT Tropang Giga remain spotless in Philippine Cup

By Michael Angelo S. Murillo

The juggernaut that is the TNT Tropang Giga stayed undefeated in the PBA Philippine Cup, rolling to their fifth straight win by topping the Blackwater Elite, 109-96, in the opening game on Thursday at the Angeles University Foundation Gym in Pampanga. 

TNT took command right at the opening quarter and held sway for the rest of the contest to raise its record to 5-0 and take solo leadership in the ongoing Philippine Basketball Association tournament.

Blackwater (2-3), with the loss, slumped to back-to-back losses.

The triumvirate of Roger Pogoy, Poy Erram and Simon Enciso set the tone for the Tropang Giga in the early goings, combining for 29 points to tow their team to a 34-25 lead at the end of the first quarter.  

In the second frame, TNT tried to create further distance, extending its lead to 16 points, 49-33, after just four minutes of play.

But Blackwater fought back, trimming its deficit to as low as six points several times before TNT went on a strong finish two make it a double-digit advantage still, 61-49, at the half.

TNT kept pouring it on in the third, not allowing the Elite to gain much traction for a comeback.

The count was at 78-64 in favor of the Tropang Giga by the midway point of the quarter.

It was a distance they would maintain, 87-73, entering the final 12 minutes of the match.

Had firm control, TNT spent the first minutes of the payoff quarter going for the jugular.

Its lead ballooned to 21 points, 102-81, with 5:10 to go and it never looked back from there.

Mr. Pogoy led five TNT players who finished in double-digit in scoring with 20 points. He also had seven rebounds, four assists and three steals to win player of the game honors.

Rey Parks Jr. had 18 points while Troy Rosario finished with 17 for the Tropang Giga. Messrs. Enciso and Erram, meanwhile, had 16 and 14 points, respectively.

For Blackwater it was Don Trollano who top-scored with 23 points, followed by Mac Belo with 16.

TNT next plays on Oct. 26 against the Northport Batang Pier (0-4) while Blackwater faces off with the Rain or Shine Elasto Painters (3-0) on Oct. 25.

Meanwhile, games on Friday will have the NLEX Road Warriors (1-3) colliding with the Meralco Bolts (2-2) at 4 p.m. and the Magnolia Hotshots Pambansang Manok (1-3) slugging it out with the Phoenix Super LPG Fuel Masters (2-2) at 6:45 p.m.

Guarded optimism for PBA amid first suspected coronavirus case

The Philippine Basketball Association (PBA) remains hopeful that the first suspected coronavirus case in its tournament “bubble” in Pampanga turns out to be false positive.

This, after a referee who tested positive in a reverse transcription polymerase reaction (RT-PCR) test early this week yielded a negative result after the conduct of antigen testing Wednesday afternoon at a quarantine facility in Capas, Tarlac.

Earlier on Wednesday, the league reported that a game official tested positive for the virus after undergoing a swab test on Monday, the result of which came out on Tuesday night.

The person under monitoring was tested along with 27 others, but was the only one who yielded a positive result.

It was the fourth coronavirus test for the referee, second inside the bubble, aside from the two tests before entering Clark, all of which came out negative.  

The referee reportedly was not showing any symptoms of the virus, but as part of health and safety protocols of the league, he was immediately extracted from the Quest Hotel inside the Mimosa complex for quarantine.

First and second layer contacts of the person under monitoring have been identified and asked to isolate themselves. They will be retested on Saturday, Oct. 24.

With the negative antigen test result of the referee, the PBA is hoping that it was just a case of false positive, or “when someone does not have the coronavirus, tests positive for it.”

The referee will remain in the quarantine facility for further observation and set to be subjected to another RT-PCR test to confirm the negative antigen result.

Given the development, PBA Commissioner Willie Marcial urged the PBA family inside the Clark not to let its guard down, continuing to be mindful of the protocols in place so as not to compromise the bubble.

He moved to reassure that there was nothing to worry about and the league was dealing with the situation accordingly.

“We would like to assure the public that the integrity of the bubble has not been compromised. Protocols have not been breached,” he said.

The PBA reopened its coronavirus pandemic-hit season on Oct. 11 after getting government nod under a bubble setup in Clark City, where all the participants are holed up for the duration of the tournament, lasting at least two months. — Michael Angelo S. Murillo

Zamboanga City rules early in 3×3 tourney

By Michael Angelo S. Murillo, Senior Reporter

Family’s Brand Sardines-Zamboanga City Chooks topped the initial leg of the Chooks-to-Go 3×3 Pilipinas President’s Cup on Wednesday and is now looking to continue to roll heading into the succeeding phases of the tournament.

Composed of the country’s top three-on-three players and national team members, namely Joshua Munzon, Alvin Pasaol, Troy Rike and Santi Santillan, Zamboanga City defeated Butuan-Uling Roasters, 21-17, in the finals of the first leg of the Cup held in a “bubble” setup at the INSPIRE Sports Academy in Calamba, Laguna.  

It is hoping to build on it as the team treks back to the court for the second leg of the two-week-long tournament on Friday.

Zamboanga City used a massive late charge, led by Mr. Munzon, to win the contest.

The team was trailing, 17-14, with less than three minutes to play when it went on a 7-0 blast to pull the rug from under Butuan.

Mr. Munzon, the Philippines’ number one-ranked player, capped their impressive run by coolly sinking his free throw that handed them the win and the P100,000 prize.

The 6-2 Filipino-American player tallied 12 points in their finals victory, with Mr. Pasaol, the country’s second-ranked player, adding six markers.

Mr. Rike had two points while Mr. Santillan finished with a point for the winners.

“Again, it showed we can fight through adversity. We just stuck to our script. We took advantage of our advantages,” said Mr. Munzon of their win and their team.

Incidentally, the ongoing tournament is being used by the national team as part of its preparation for the Olympic Qualifying Tournament next year.

Also part of the squad but could not join it in the President’s Cup are Philippine Basketball Association (PBA) stars CJ Perez and mo Tautuaa who are playing in their own bubble with the PBA.

Leading Butuan in the finals game was former PBA player Karl Dehesa with six points, with teammates Chris De Chavez and Chico Laneta each contributing four. Franky Johnson added three points.

Despite losing in the finals, Butuan also got P100,000 as promised by Bounty Agro Ventures, Inc. president and league owner Ronald Mascarinas to whoever the opponent is whenever Family’s Brand Sardines makes it to the finals.

Ending up at third place in the first leg was the Nueva Ecija Rice Vanguards. 

Meanwhile, focus now shifts to the second leg on Friday to be followed by two more legs on Oct. 25 and 27, and then the Grand Finals that has a P1-million top prize on Oct. 30. 

The Chooks-to-Go 3×3 Pilipinas President’s Cup powered by TM is endorsed by world basketball governing body FIBA.

It is the second league in the country to open amid the ongoing concern with the coronavirus pandemic.

The tournament is being conducted under strict monitoring of health and safety protocols laid out by the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF-EID). 

Participants in the Cup are staying in the government-approved Calamba facility of National University throughout the proceedings.

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