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Don Tim expands Tagaytay project

DON TIM Development Corporation (DTDC) started building the second cluster of low-density condominiums as part of the Alta Monte Leisure Suites North project in Tagaytay City.

In a statement, DTDC said it broke ground on Cluster B Leisure Suites North, after Leisure Suites South sold out. Both are part of DTDC’s 13-hectare flagship project Alta Monte Subdivisions, located along Magallanes Drive.

“After successfully selling out all units under its 27 buildings from Leisure Suites South, Don Tim now looks towards the progress of its new cluster, Alta Monte Leisure Suites North, with another 27 condominium buildings,” the company said.

Alta Monte Leisure Suites offers just six units in each building.

“This assures not only (residents’) comfort when it comes to their living arrangements, but it also increases their level of safety and security,” DTDC said.

Taiwan central bank seen leaving rates steady on exports

TAIPEI — Taiwan’s central bank is expected to leave its policy rate steady for the thirteenth consecutive quarter, a Reuters poll of analysts showed, amid signs the export outlook may be slowly improving despite the escalating US-China trade war.

All 15 economists polled said they expected the central bank to keep the benchmark discount rate at 1.375%, where it has stood since June 2016, when its policy board meets on Thursday.

Like other trade-reliant Asian economies, Taiwan has been hurt by slowing global demand, particularly for its hi-tech products, and the prolonged trade dispute between its two largest trading partners, which has disrupted supply chains.

But export orders for July fell less than expected as retailers began stocking up on electronic gadgets ahead of the peak year-end shopping season, and actual exports unexpectedly returned to growth in August.

Last month, Taiwan’s government bucked a global trend of growth downgrades and raised its 2019 forecast, saying more companies were moving production to the island from mainland China to avoid higher tariffs from the trade war.

That returning production has helped Taiwan stand apart from other major regional exporters such as Hong Kong and Singapore, which are facing risks of recession.

“Better-than-expected growth performance will likely allow Taiwan’s central bank to keep rates unchanged through 2019-20,” DBS economist Ma Tieying said in a note, adding that “Made-in-Taiwan” was making a comeback after two decades of investment exodus and industrial hollowing out.

Higher interest rates could also lift the Taiwan dollar, hurting its export competitiveness.

Some analysts have cautioned, however, that recent signs of improvement are linked to the release of new smartphone models, which may provide only a temporary boost to orders. — Reuters

Upcoming Concerts (09/17/19)

Frontmen at concert for a cause

FORMER FRONTMEN of bands 6Cyclemind, Moonstar88, and Rivermaya are set to take the stage on Sept. 20 in Bacoor, Cavite, for a one-night concert to raise funds to buy medical supplies for people with hemophilia and who are undergoing dialysis. Called The Band of Hope, the concert brings together on one stage Ney Dimaculangan, who was the lead vocalist and writer of 6Cyclemind until 2011; Acel Bisa, who was the lead singer of Moonstar 88 until 2004; and Jason Fernandez who was the lead vocalist of Rivermaya until 2011. Other performers include electro-pop duo Beat per Machine, the band The Pub Forties, and Fliptop rapper Rapido. The Band of Hope will be held on Sept. 20, 5 p.m., at the Strike Gymnasium at the Bacoor Government Center along Molino Ave., Bacoor, Cavite. For tickets and reservations, call 0926-734-9429 or 0961-326-3722. Ticket prices are at P350 for balcony and P450 for ground.

Rainbow in Asia Music Festival in Manila

THE FIRST Rainbow in Asia Music Festival (RAMF) will be held in Manila on Sept. 21 at the Philippine Arena, Ciudad de Victoria, Santa Maria, Bulacan. The show will feature some of the best known Korean pop groups and will be hosted by 2NE1 member and host Sandara Park and actor-host Ryan Bang. The concert will showcase award-winning girl group Mamamoo as well as Oh My Girl. Winner and AB6ix are also part of the lineup. Solo artists Park Bom, also of 2NE1, and Kriesha Chu round up the roster of performing artists. Tickets range in price from P500 to P13,000, exclusive of ticket charges, and are available at TicketWorld. More information about the tickets are available at https://www.ticketworld.com.ph.

Momoland to donate concert proceeds to charity

TO PAY BACK its enthusiastic Filipino supporters, the K-Pop group Momoland and its agency, MLD Entertainment, have announced that the proceeds from the girl group’s Good Friends in Manila concert on Oct. 5 will be donated to support their chosen beneficiaries. The children in two small barangays in Antipolo City — Barangays San Jose and Calawis — will receive donations of clothes and other necessities. The turnover is expected to take place on Oct. 25. The project is not just a one-off charity event as they plan to hold similar charity projects annually. Good Friends in Manila will be held on Oct. 5 at Smart Araneta Coliseum at the Araneta Center, Cubao, Quezon City. The concert will also feature Ha Sung Woon and Kim Jae Hwan. Tickets cost P9,500 (SVIP standing and seated), P7,000 (Patron), P5,000 (lower box), and P3,000 (upper box). Tickets are now available in all TicketNet outlets nationwide or online through www.ticketnet.com.ph

HMR set to open in Cagayan de Oro

DAVAO CITY — HMR Trading Haus is set to open a branch in Cagayan de Oro within the month, it said in a statement.

HMR, a company that sells local goods and those from Australia, Europe and the United States, will open its 29th retail outlet inside the Puregold Store in Cagayan de Oro and will offer “branded appliances, housewares, gadgets, electronics, power tools, industrial supplies, outdoor products, sporting goods, and furniture for home, office and hospitality industry needs and so much more–all at affordable prices,” it said.

“We are excited to be opening in Cagayan De Oro and we have a lot of quality items at affordable prices to offer both wholesalers and end users,” said Sharlene Carman-Powell, HMR Philippines chief executive officer.

The outlet is part of the expansion of the brand’s superstore concept in the country, it said.

“Our clients include all types of agricultural, industrial, commercial and start-up enterprises. We offer the lowest prices on office furniture ensuring minimal start-up costs for businesses on a budget,” Ms. Carman-Powell said. — C.Q. Francisco

How PSEi member stocks performed — September 16, 2019

Here’s a quick glance at how PSEi stocks fared on Monday, September 16, 2019.

 

Pig farmers warned not to dump dead animals in rivers

THE government has not yet identified the farmers who dumped dead pigs found in a major Metro Manila river but warned hog raisers that disposing of dead animals in waterways is illegal and facilitates the spread of diseases like African Swine Fever (ASF).

Marikina City Veterinarian Manuel C. Carlos told BusinessWorld by phone that river recovery operations in the city have been suspended pending a finding on the hogs’ cause of death.

Pinagbawal ni Mayor Marcelino [R.] Teodoro lahat ng activities dito kasi nga hindi natin alam kung ano yung ikinamatay nung mga baboy (the mayor has suspended recovery operations because the cause of death has not been determined),” he said.

He added that ASF is not thought to be transmissible to humans but the carcasses may be harboring other diseases.

Between Sept. 12 and 15, 58 dead pigs were recovered from the Marikina River.

Mr. Carlos said the authorities are still trying to determine the farms where the dead pigs are from and is awaiting the outcome of laboratory tests to confirm the cause of death.

He also said that water samples from the river are also being examined for contamination, adding that the Department of Environment and Natural Resources (DENR) is conducting the tests, which will take seven days.

Dead pigs have also been found at a creek in barangay Bagong Silangan, Quezon City. The Quezon City Veterinary Office declined to comment.

In an appearance Saturday on CNN Philippines, Quezon City Mayor Josefina G. Belmonte said: “Two barangays, I think, have been verified (as) positive (for) ASF.”

“There are three pigs that have been found in a creek in Barangay Bagong Silangan; it has now been verified that there are 11 mortalities in Barangay Bagong Silangan and they have been tested positive for African Swine Fever… that’s one barangay,” she said.

According to Google Maps, parts of Barangay Silangan border the Marikina river. The barangay is also directly east of Payatas, which is located on the shore of the La Mesa reservoir.

The Department of Agriculture (DA) said Ms. Belonte’s determination of the disease was “too early” given that the time it takes to test for ASF.

Meanwhile, Malacañang said President Rodrigo R. Duterte will not be issuing any orders on ASF, saying that it expects the DA to take the lead.

“There’s no need for any directive from the Palace simply because the DA Secretary knows what he is going to do. He’s been tasked to do it, and he is doing it,” the President’s Spokesperson, Salvador S. Panelo, said in a briefing.

The DA warned hog raisers against dumping dead pigs into waterways without reporting the deaths to the authorities. Quarantine procedures require that pigs killed by a suspected disease or culling be buried.

Dumping into rivers is ”utterly irresponsible on the part of the backyard raisers as they did not only violate the laws, but (they) also spread the disease pathogens much faster,” Agriculture Secretary William D. Dar said in a statement.

He said these hog raisers have violated Republic Act 8485, or the Animal Welfare Act. Violators face imprisonment of at between six months and two years or a fine of between P1,000 and P5,000.

Another possible law they have violated is RA 9003, or the Solid Waste Management Act, he said. — Vincent Mariel P. Galang

Dominguez looking forward to expansion of China ties

FINANCE SECRETARY Carlos G. Dominguez III said he is looking forward to expanding the Philippines’ economic ties with China, citing the “synergy” to be realized from a closer “partnership,” while dismissing irritants to the bilateral relationship.

“Under the leadership of President Rodrigo R. Duterte, we have adopted a more forward-looking policy towards China. We understand the great synergy that will be generated by the closer partnership between our two countries,” Mr. Dominguez said in his keynote speech Monday during a forum in Manila attended by government officials and business leaders from China’s Chongqing Municipality.

Mr. Dominguez said the country’s relationship with China “has never been warmer,” noting that the Mainland was the Philippines’ biggest trading partner with total trade of $52 billion last year. Foreign direct investment from China also grew 185% to $634 million in 2018.

“We look forward to more partnerships at ground level, at the level of individual enterprises, and shared wealth-creation. The opportunities that unite us are far greater than the issues where we might have some differences,” he added.

Speaking to the Chinese delegates, Mr. Dominguez said the country offers a “rich field” of investment opportunity as well as “demographic sweet spot” with large numbers of educated young people entering the workforce.

He said the government’s aggressive infrastructure program, known as Build, Build, Build, will open investment opportunities as well as boost the economy despite the “challenging global environment.”

He said that China has given “key support” for some of the infrastructure program including dams, bridges, and railways through official development assistance, loans and grants.

“Investment in infrastructure will only yield value to the economy if they spur new business activity. Private-sector participation not only in our country’s Build, Build, Build program, but also in investments that will open up as a result of this should be highly considered by our Chinese investors,” he added.

In the agriculture and fisheries sector, he said the government is also looking to “tap agricultural technology from China to rev up” the sector. — Beatrice M. Laforga

Gov’t salary hikes to cost P110B over 3 years

THE government will allocate P110 billion over three years for the salary increase of government workers, including nurses and teachers, a key legislator said.

House Ways and Means committee chairperson and Albay 2nd district Rep. Jose Ma. S. Salceda said the 2020 budget provides for P32 billion for wage increase and P4 billion for miscellaneous benefits.

He noted that “these has been programmed within the organic capacity of the government and need no new taxes to underwrite it.”

“It will favor SG (Salary Grades) 1-17 with higher increases while those in SG 18-33 including the President and Congressmen will receive lower increases,” Mr. Salceda said.

In July, Finance Secretary Carlos G. Dominguez III said the government will proceed immediately with the fifth round of adjustments to public servants’ salaries under the Salary Standardization Law.

He said that the Finance department and the Department of Budget and Management (DBM) have come up with initial estimates for “affordable” salary adjustments.

“The adjustments will preserve and somewhat improve the purchasing power of civil servants considering the consumer price inflation of 3.4% over the past three years (2016 — 1.8%, 3.2%; 2017 and 2018 — 5.2%) and forward estimates for 3-year inflation of 2-4% per year,” Mr. Salceda said.

DBM has allocated P31.1 billion in miscellaneous personal funds to finance the first tranche of the SSL. Currently, the Philippines has 1.4 million civil servants. — Vince Angelo C. Ferreras

Six sites recommended for use by small miners

THE mining regulator has identified six potential areas suitable for small-scale miners and expects final approval of the sites by the end of the year.

Wilfredo G. Moncano, director of the Mines and Geosciences Bureau (MGB), told reporters the bureau has initially cleared applications for six sites under the so-called “Minahang Bayan” program.

Ang nakita ko na-endorse nasa anim (Six sites have been endorsed), so kung lahat ‘yun ma-clear (if all are cleared)… additional five or six [will be operational within the year].”

About 60% of the gold mined in the Philippines is produced by unregulated small-scale miners. The designation of Minahang Bayan reservations is intended to centralize the processing of minerals to protect the environment and ensure miner safety.

There are 29 sites carrying the Minahang Bayan designation with 100 more sites applying for the status.

Mr. Moncano said the procedure for making such a declaration is slow.

Ang dami lang (There are many) requirements… hindi lang ganun kabilis (the process is not that fast),” he said.

He said the MGB backs the amendment of Republic Act 7076, the Minahang Bayan Law, to streamline the approval process.

Under RA 7076, the declaration of a Minahang Bayan requires the filing of a petition or request, the examination of the area, and stakeholder consultations.

After the declaration, interested operators are expected to meet certain standards before being allowed to operate at the site.

The application process for operators includes a fee of P1,000, and proof of registration with the Securities and Exchange Commission, Department of Trade and Industry, Cooperative Development Authority, or other such government agencies. The process is open only to 100% Filipino-owned firms.

All gold mined at the site must be sold to the Bangko Sentral ng Pilipinas (BSP), or its representatives, at competitive prices relative to those prevailing in the world market regardless of volume or weight.

Mr. Moncano also noted that RA 11256, or an Act to Strengthen the Country’s Gross International Reserves (GIR), will help encourage more small-scale miners to register in order to avail of the law’s excise tax exemption.

“That’s one incentive on the part of small scale miners to be legalized and be formalized para ma-avail nila ‘yan para hindi sila habul-habulin ng gobyerno (in order for them to claim the exemption which frees the government from having to run after them),” he said. — Vincent Mariel P. Galang

Senate signals possible increase in OVP funding

THE SENATE finance committee will at least maintain the P673.019 million budget of the Office of the Vice President for 2020, with its chairman citing the possibility of a significant increase.

The 2020 National Expenditure Program (NEP) allocation for the OVP is 0.22% higher than its 2019 budget of P671.553 million.

“At the very least, we will protect your budget. I’m sure many of us would even want to increase it, given the demands of your office,” Committee chairman Juan Edgardo M. Angara told Vice President Ma. Leonor G. Robredo at a budget hearing Monday.

The proposed 2020 OVP budget allocates P99.558 million for personnel services, P552.525 million for maintenance and other operating expenses, and P12.400 million for capital outlays.

Minority Leader Franklin M. Drilon said the OVP budget lacks funding for policy analysis, which he said hampers the OVP’s outreach to poor communities.

“I noticed there is no budget for a policy section in the Office of the Vice President. These are all geared towards helping the poor,” Mr. Drilon said.

“I think the office (needs to be) equipped with knowledge of the various policy issues that are being discussed.”

Ms. Robredo said the OVP has a four-man policy unit,headed by a consultant, given the budget constraints of the her office.

She also welcomed the chamber’s initiative to allocate additional funding for the OVP.

“If you will recall, nag-start kami, wala naman kaming pondo for programs, pero noong nalaman ng Senado din last year na marami kaming ginagawa pero umaasa lang kami sa private funding, sila na iyong nag-offer na dagdagan (we started with no funds for programs but when the Senate found out last year that we depend on private funding, the Senate offered to add to the budget). So nadagdagan kami ng P200 million last year (we received an additional P200 million last year),” Ms. Robredo told reporters after the budget hearing Monday. — Charmaine A. Tadalan

Bill seeks to raise safeguards against pesticide poisoning

LEGISLATORS have fled a bill requiring landowners to test for safe levels of pesticide before allowing farm workers to work on their sites.

Representatives Horacio P. Suansing Jr. and Estrellita B. Suansing filed House Bill 1088, which if passed will become the Farm Workers’ Protection Act in order to protect agricultural workers from the dangers of pesticides.

“In recent years, pesticide poisoning has become a more prevalent international public health issue, with an estimated 200,000 people dying each year worldwide because of intentional, accidental, and occupational exposure to pesticides,” according to the bill’s explanatory note.

According to the bill, farm owners will be required to test for pesticide levels a week before the workers arrive on site.

The bill also requires them to supply personal protection equipment to be worn during work. On-site washing facilities for clothing and showers for workers should also be provided.

The measure also requires housing for farm workers to be located at least 50 feet away from any sites treated with pesticides.

The bill calls for fines of P100,000 for violations. — Vince Angelo C. Ferreras

US state seeking to grow Asian, European markets for LNG

BATON ROUGE, LOUISIANA — Louisiana Economic Development (LED), a development agency, is looking to Asia and Europe as the main destinations for the US state’s natural gas in the coming years.

“Most of our contracts have been with Asian countries so far,” Larry Collins, LED executive director for international commerce, said in a briefing for reporters from Asia and Europe.

He cited Cheniere Energy, Inc., a liquefied natural gas (LNG) company headquartered in Houston, Texas as signing last year a 20-year, $30-billion contract with a Taiwan trading company.

Cheniere has facilities both in Texas and Louisiana, allowing it to ship from either sources depending on the availability of LNG, he said.

Mr. Collins said Louisiana is well-positioned to deliver the requirements of other countries as it has 17 oil refineries, making it the second-largest refiner in the US after Texas. Its network of pipelines also allows it to move LNG with ease.

“Louisiana is very uniquely situated geographically because we are at the mouth of the Mississippi River,” he said about the waterway that runs through the middle of the US “heartland” and allows it to reach 38 states by water.

“Many of the goods that are sent around the world come through Lousiana,” he said.

Mr. Collins said he expects “resource-deprived” nations such as Japan, South Korea and Taiwan whose economies are performing strongly as the likely markets for Louisiana’s LNG.

“It’s very important for them to tie up these resources,” he said, adding that China also has a “strong reason” to import LNG because of its requirements for power and manufacturing.

For Europe, he said it makes sense to import from countries other than Russia to diversify its sources.

“They don’t want to be tied to the Russians, there have some national security interests as well. They don’t want to be beholden only to the Russians for their supply. So to have a diversified source, maybe even if it were the same price, they would have two sources of supply,” he said.

US LNG exports mark a turnaround from 15 years ago when it was an importer of the fuel.

Mr. Collins noted the “shale renaissance” in which the US learned how to exploit resources out of such rock formations to extract gas, resulting in a surge in its production numbers.

“We now have a situation where companies, chemical companies, know how to break this oil up, how to break this gas into the molecules and turned to high-value products such as plastics, construction materials, automobile parts,” he said. — Victor V. Saulon