Facebook Instagram Linkedin Twitter Youtube
Home Blog Page 9044

Adjusted shopping mall hours start Monday

SHOPPING MALLS in Metro Manila will move their opening time to 11 a.m. starting today, Nov. 11, as part of the traffic alleviation measures for the Christmas and New Year holidays. Mall operators agreed to the adjusted time, which will be in effect until January 10 next year, following a meeting last month with the Metro Manila Development Authority (MMDA). Additional private security personnel will also be deployed to manage the anticipated increase in vehicles going in and out of mall parking areas, which cause traffic gridlock along public roads. There will also be no mall-wide sale events on weekdays during that period. MMDA General Manager Jose Arturo S. Garcia, Jr., in a statement after the Oct. 22 meeting, said with more than 100 shopping malls in the capital, these are considered “traffic generators during the holidays and delaying their operating hours by an hour could help ease the traffic situation.” Other measures that will be implemented include the suspension of road reblocking along EDSA and C5 for projects involving utilities, except in cases of emergency. Work for ongoing government flagship projects, however, will continue. “Traffic is already bad and we expect it to get worse as the number of vehicles increases daily,” Mr. Garcia said.

Big Bad Wolf returns to Davao

THE BIG Bad Wolf (BBW) is holding its second book sale in Davao City on Nov. 11–22, open 24 hours a day on those dates at the Enderun Tent in Azuela Cove. Jacqueline Ng, founder and executive director of BBW, said they are bringing about one million books this year with a wider title selection of fiction, non-fiction, children’s books and premium titles. “Last year, we saw 34% (of sales) are fiction, which is the highest compared to non-fiction and children,” Ms. Ng said in an interview. “Normally for the first year we don’t know what to expect… every market is different and every region is different. This year, we used our history from last year to create a better selection for this year,” she added.

GK PARTNERSHIP
The BBW has also partnered with Gawad Kalinga, through its corporate social responsibility arm Red Readerhood (RRH), for the distribution of donated books to remote villages, communities, and elementary schools. Ms. Ng said they have collected 13,679 books from Manila, Pampanga, and Cebu for distribution in Davao. — Maya M. Padillo

Asiana Airlines plane makes emergency landing at NAIA

AN AIRPLANE operated by South Korea’s Asiana Airlines (020560.KS) bound for Singapore made an emergency landing in Manila late on Saturday due to an engine problem, a company spokesman said. The Asiana Airlines’ Airbus 350 plane took off from Incheon in South Korea with about 310 passengers on board and landed in Manila after one of its engines failed, the spokesman said on Sunday. No one was injured in the incident, he said. — Reuters

Iloilo airport, ranked among Asia’s 20 best by travelers, in urgent need of expansion

THE ILOILO International Airport, one of only two Philippine airports voted among the 20 best in Asia in an online survey, has actually been operating at double its capacity.

Department of Tourism-Western Visayas (DoT-6) Regional Director Helen J. Catalbas said while they toast to the recognition, it also highlights the need to fast-track the airport’s expansion.

“It ranked number 18 because it’s crowded, but once we expand, who knows we can further improve our rating,” she said in an interview.

The government-run airport, located in the town of Cabatuan about 30 kilometers from Iloilo City, ranked 18th in the the 2019 survey of airport guide and resource site sleepinginairport.net.

The other Philippine airport that made it to the list at number 16 is the Mactan Cebu International Airport, managed by private firm GMR-Megawide Cebu Airport Corp.

“Now, the airport seems okay because we are just starting with our MICE (meetings, incentives, conferences, exhibitions) promotions, but as we go on with our campaign, more people will go to Iloilo. That is the reality, so if we want to have more tourists we need to expand our airport,” Ms. Catalbas said.

The Iloilo airport, which opened in 2007, was designed to cater to 1.2 million passengers a year, according to the Civil Aviation Authority of the Philippines. In recent years, the airport has been handling 2.4 million passengers annually.

“Our airport already reached its passenger capacity, eight years ago before the target,” the DoT official said.

CAAP Iloilo Terminal Supervisor Art Parreño said there has been no recent update on the proposed airport expansion.

“We don’t have any information as to the realization of that, but how CAAP wishes that the project will be pursued,” he said in a phone interview.

In June, CAAP granted an original proponent status to the unsolicited proposal submitted by the Villar Group of real estate magnate Manuel B. Villar, Jr.

The proposal has been forwarded to the National Economic and Development Authority for evaluation and approval before undergoing a Swiss challenge.

Mr. Parreño said the expansion plan is particularly needed for the passenger terminal building.

“The passenger terminal building that we have right now was constructed to cater to domestic operations… We expanded to Hong Kong and Singapore destinations and now more and more airlines are offering new domestic destinations like the new Iloilo-Clark destination offered by Air Asia and Cebu Pacific,” he said.

Ms. Catalbas said the airport’s readiness to handle more passengers is a key component to the “Meet you in Iloilo” campaign, a P50-million program specifically targeted to promote the city as a MICE destination.

“We need all new facilities as addition to the capacity of Iloilo City as it poises itself to be a top MICE destination in this part of the country.” — Emme Rose S. Santiagudo

Taiwanese group brings tech innovations, seeks closer ties with Mindanao

By Maya M. Padillo
Correspondent

DAVAO CITY — The Taiwan External Trade Development Council (TAITRA) wants to forge closer ties with Davao City and the rest of Mindanao through technological innovations in agriculture, among other sectors.

“In the past, we focused on Luzon island and we have direct flights via Cebu in Visayas, so Visayas has more exposure to Taiwan. Now we will actually work in Mindanao… This year, TAITRA chose Davao to be the place of holding the event as they have noticed the potential of Davao,” Ambassador Michael Peiyung Hsu of the Taipei Economic and Cultural Office in the Philippines, said in an interview during last Friday’s opening of the Taiwan Expo 2019.

Around 100 exhibitors from Taiwan showcased their products, services, and techonology in agriculture, design, and medical care, as well as tourism.

TAITRA Chairman James C.F Huang said they see agriculture and fisheries as having the biggest potential for immediate collaborations.

Mr. Huang said Taiwan has expertise in agriculture technology that can enhance efficiency, both in crop and fish farming.

“The future of fishery is technology. Taiwanese companies have their latest technologies to help you upgrade and transform your fishery industry,” he said.

Mr. Hsu also said representatives from the Department of Agriculture’s Davao regional office will be going to Taiwan soon to learn about precision farming.

“We will show you our latest innovations. We believe Taiwan’s technology can fuel the Philippines’ growth and help your economy to thrive even higher,” Mr. Huang said.

Companies in healthcare services and information and technology were also among the exhibitors.

Among them were Geosat Aerospace and Technology Inc., which specializes in commercial drone systems for building smart cities, and consumer electronics manufacturer Cal-Comp Technology (Philippines).

“We want to transform Davao as smart city and we can offer our expertise… Here in this great city of Davao, we see new beginnings, new hopes, and new dreams,” Mr. Hsu said.

The TAITRA official also said that they are optimistic that bringing the Taiwan Expo to Davao would mark the start of more business-to-business partnerships as well as discussions for direct flights.

“Soon this connectivity will be established, and all that is needed is we have to understand each other and know each other better,” he said.

Government’s free Wi-Fi service installed in 8 earthquake-hit areas

EIGHT AREAS in the Mindanao towns affected by last month’s triple earthquakes are now covered by the government’s Free Wi-Fi for All program, the Department of Information and Communications Technology (DICT) reported on Sunday. The latest to get the internet connection was the municipal gym in Magsaysay, Davao del Sur, which serves as the command post for the relief operations. The seven other Wi-Fi hotspots are in Cotabato, the hardest hit province with the earthquakes’ epicenters in its town of Tulunan. These are at the following: municipal halls of Tulunan, Makilala, M’lang, and Kidapawan City; Cotabato’s Amas provincial capitol; JCX Complex in Kidapawan City, where the Mindanao Development Authority set up a command center; and the Kidapawan office of the Department of Social Welfare and Development (DSWD). “With the recent earthquake that wreaked havoc in the southern central part of Mindanao, continuous efforts are being made by the DICT’s Free Wi-Fi for All Program in order to provide for information and connectivity needs of people in affected areas,” the department said. Over 257,000 people have been affected by the earthquakes last Oct. 16, 29, and 31, with magnitudes ranging from 6.3-6.6. Of the total, more than 56,500 are in 75 evacuation centers, as of the Nov. 10 update from the national disaster management council. There are 31 confirmed fatalities from the three earthquakes, with two still recorded as missing from a tremor-triggered landslide in Davao del Sur.

Mining industry seen growing in 2020 on Indonesia export ban

By Vincent Mariel P. Galang
Reporter

THE Mines and Geosciences Bureau (MGB) said it is projecting the mining industry to grow next year, factoring in the priority mining projects in the pipeline, as well as increased prices for nickel ore due to the export ban in place in Indonesia, the top producer.

“Personally, positive ang outlook ko (my outlook is positive). Una (First), we have signs, like yung ating mga (that our) priority projects that are going to proceed to developmental and commercial extraction,” MGB Director Wilfredo G. Moncano said in news conference.

He cited projects like the Silangan Copper-Gold Project of Philex Mining Corp. in Surigao del Norte, and the Balabag Gold-Silver project of TVI Resources Development (Phils.), Inc. (TVIRD) in Zamboanga del Sur.

In a Sept. 26 letter, the Department of Environment and Natural Resources (DENR) through the MGB approved Philex Mining’s underground sub-level cave mining method for the Silangan mine. This project could be the company’s biggest source of revenue once its 61-year-old Padcal Mine in Tuba, Benguet closes in 2022.

Philex is also in the process of looking for possible investors for the Silangan project to raise 40% of the $750-million initial investment. It has also appointed JPMorgan to advise on possible equity investments and Mizuho Financial Group to raise project financing.

TVIRD, the Philippine affiliate of Canadian miner TVI Pacific, Inc., is in the pre-operational phase at Balabag after its permit was cancelled by former Environment Secretary Regina Paz L. Lopez, who found the project to be near a watershed.

The Chamber of Mines of the Philippines has estimated that the project could attract $20 billion to $30 billion worth of investment.

The Philippine Mining Law of 1995 prohibits operations in critically protected areas, like proclaimed watersheds and forest reserves, but is silent on functional watersheds.

Mr. Moncano said that TVIRD has proceeded to development and commercial extraction since its operation is not covered by the ban on open-pit mining and Executive Order 79, which prohibits granting permits to new mining projects.

Indonesia has also imposed a nickel-ore export ban starting next year, which the Philippines could take advantage of the second-largest producer.

“Ayaw na nilang mag-export ng kanilang nickel (They do not want export their nickel) to China and Japan, so that would be a good reason para mag-increase yung production ng ating (to increase production of our) nickel,” he said.

Indonesia is hoping to develop a smelting industry as an alternative to exporting its ore, hereby capturing more value-added activity. It was the top nickel-producer in 2018 with 560,000 tons, followed by the Philippines with 340,000 tons. Their top export market is China.

He said that the ban may also result in higher prices of nickel, which could make more mines in the Philippines viable.

Philippine Nickel Industry Association (PNIA) President Dante R. Bravo said, “It’s going to boost the local production of nickel and it’s going to improve the prices even for lower grades.”

“Marginal producers… will have more market for lower grades. We might be able to sell that next year and will be able to optimize the ore utilization,” he said, adding that with more stable prices next year, the Philippines could also attract more investors for value-added processing of nickel.

Workers seek safeguard duty on auto imports, citing impact on jobs

By Jenina P. Ibañez

THE Philippine Metalworkers Alliance (PMA) has submitted an application to investigate possible safeguard measures on imported automobiles to the Department of Trade and Industry, the first such application from a labor group in the Philippines.

Receiving the application was the DTI’s Bureau of Import Services.

PMA includes among its members iron, steel, electronics, and electrical workers, with affiliates in automotive companies.

Trade Undersecretary Ceferino S. Rodolfo said in a briefing Thursday that PMA’s assertion is based on a link between the surge in automobile imports and the decline in employment the domestic automotive industry.

DTI is evaluating PMA’s data alleging a surge in imports of brand new motor vehicles. The PMA said imports rose to more than 207,000 units in 2018 from 153,000 in 2014. These vehicles fall under the category of HS Code 8703, or motor vehicles principally designed for the transport of persons.

More than 80% of these Completely Built Up (CBU) vehicles come from Thailand, Indonesia, and South Korea.

“When they import CBUs, there is no opportunity to locally source some of the parts when you assemble them here,” Mr. Rodolfo said in Filipino.

He said that instead of producing vehicles in the Philippines for the domestic market, car companies import vehicles produced in countries like Thailand and Indonesia because the Philippines places no tariffs on automobiles from those countries.

The BIS is evaluating the corresponding data on the decline in parts production.

To apply for safeguard measures, the PMA has to prove a surge in imports, the injury or threat of injury to the domestic sector, and a causal link between the surge and the injury.

Mr. Rodolfo said that PMA has submitted data on the increase of imports and data on a decrease in full-time personnel in parts makers and automotive companies.

A representative from PMA said workers in the automotive industry have lost jobs due to downsizing, saying that Mitsubishi Motors Philippines Corp. declared more than 400 positions redundant last year and Isuzu Philippines Corp. temporarily laid off almost 100 employees earlier this year.

PMA Secretary-General Rey Rasing said in a phone interview that workers fear continued loss of jobs.

“That’s the reason why we wrote to DTI — so that there will be balance in the issue of importation and the protection of jobs. As a union, we want permanent jobs if automotive production is done here,” he said in Filipino.

He said that automotive imports only bring temporary precarious work, including commission-reliant sales work in dealerships.

Mr. Rasing said that excise taxes on automotive vehicles under the Tax Reform for Acceleration and Inclusion law in 2018 countered the impact of fiscal incentive programs designed to encourage investment and jump-start the industry.

The automotive industry has pointed to excise taxes for the sales slowdown last year.

With this application for safeguard measures, PMA is hoping for an increase in in-country production for domestic and export markets.

Mr. Rasing said any incentive program for the industry should incorporate worker protections

DTI is evaluating PMA’s application.

“We have to convene a technical working group on trade remedies to officially look at the application for safeguard measures,” Mr. Rodolfo said.

The technical working group, after three months, will submit recommendations for the Trade Secretary to consider.

BusinessWorld asked the Chamber of Automotive Manufacturers of the Philippines and the Association of Vehicle Importers and Distributors, Inc. for comment, but has not received a responses at deadline time.

BPO industry seen insulated from trade war

THE business process outsourcing (BPO) industry (BPO) is considered insulated from the impact of the trade war, unlike the manufacturing sector, Mitsubishi UFJ Financial Group (MUFG) said.

They added that the Philippines continues to be attractive for BPO investors due to low costs and English-language skills.

“I think the Philippines is very unique and could reap the benefits of having an English-speaking population… (US companies) are very happy with the outsourcing and (can be expected to) continue to outsource their activities to the Philippines,” Leong Sook Mei, ASEAN Head of Global Markets Research for MUFG told reporters in a briefing Friday in Makati.

Ms. Leong added that the industry is unlikely to be a direct competitor in BPO because of its underdeveloped service economy.

“It’s something that I think is very hard to take away because China is not into the same kind of deal or the service sector that the Philippines (is). The closest competitor is probably India. But even then I think there has been a lot of issues over the BPO operations in India,” Ms. Leong said.

Marie Diana Lynn C. Singson, head of Global Corporate Banking at MUFG Manila, said that the low cost is what makes the Philippines attractive, despite global trade tensions.

“I think BPOs are relatively shielded from the trade wars… Companies set up BPOs precisely because they want to minimize costs… even with a trade war, I don’t think we will see it affecting the BPO business,” Ms. Singson said.

Any impact of trade tensions could show up in another pillar of the economy, remittances.

“I think, may be a little bit (of impact) on remittances. Manufacturers are impacted by the fact that they can’t export as much… But I think for BPO not really,” Ms. Singson said.

President Rodrigo R. Duterte has said that India and the Philippines and India should boost ties to complement each other’s strengths in the global IT and BPO industries.

During a visit to Manila in October, Indian President Ram Nath Kovind said India is looking to expand business opportunities with the Philippines in the digital industries, start-ups, health, and agriculture.

The BPO industry generated between $24.5 billion and $24.8 billion in revenue in 2018, according to estimates from the Information Technology and Business Process Association of the Philippines (IBPAP). Despite the pickup, it was short of the association’s targets.

“I think there was a prevailing discussion around the overall uncertainty, really and what we have said in the past, it’s less about what eventually the fiscal regime will be. It’s more about how are we managing the predictability of fiscal forecasts,” IBPAP President and CEO Rey E. Untal told members in May, referring to the possible impact of tax reform and incentives rationalization.

Such uncertainties could take their toll on the industry and prevent it from hitting its $40 billion revenue target by 2022. — Luz Wendy T. Noble

DTI to probe substandard steel after Mindanao quakes

THE Department of Trade and Industry (DTI) said it will investigate the alleged proliferation of substandard steel after legislators cited the damage to buildings caused by recent earthquakes in Mindanao.

In a statement Friday, the DTI said that it supports House Resolution 379, which on Nov. 4 sought an investigation into substandard steel and cement products that may have compromised the southern island’s infrastructure.

“We welcome this call and shall fully cooperate and support the investigation to be conducted in order to ensure that the public will not be harmed by substandard construction materials,” Trade Secretary Ramon M. Lopez said.

House Resolution 379 directs the department to conduct an inquiry into the alleged smuggling of substandard steel products, with the alleged collusion between steelmakers, the DTI, and the Bureau of Customs.

Mr. Lopez said such smuggling runs against the agency’s goal of protecting consumers and strengthening manufacturing. He added that the DTI will investigate to ensure that there is no corruption in the system.

He is also encouraging third-party investigations, including those led by the Presidential Anti-Corruption Commission (PACC).

“We heightened the campaign against substandard products because it is not safe for consumers and unfair to local manufacturers who will face cheap competition. This, in turn, may shrink the country’s manufacturing base and lead to job losses. Clearly, smuggling substandard steel is detrimental to the mission of the agency,” Mr. Lopez said.

Mr. Lopez said that under the Duterte administration, the DTI has developed stricter product standards, included more products in the list of mandatory compliance, and increased the sample size of products for testing.

“We are adding more products for mandatory compliance… (if many of them are) not subjected to mandatory testing, substandard products can come in,” he said.

DTI has cracked down on steel products like rebar and angle bars. The agency has also increased its surveillance of foreign manufacturers.

The guidelines also include regular annual surveillance and surprise factory visits and requiring steel manufactures to set up their own testing facilities prior to qualifying for a Philippine Standards license.

The guidelines require inspections at various stages of transport, including pre-shipment, post-shipment, and audit in retail.

In 2019, the DTI Fair Trade Enforcement Bureau has so far issued 61 notices of violation against establishments found distributing non-conforming steel products.

The department is studying the inclusion of roofing, ceramic tiles, and plywood in the list for mandatory certification, and is holding consultations on the regulation of black iron and galvanized iron, steel pipe, and steel sheets. — Jenina P. Ibañez

Seven lessons from IFRS 17 live engagements

The financial statements of companies issuing insurance contracts are bound to change dramatically beginning Jan. 1, 2022, as the date marks the global adoption of International Financial Reporting Standard (IFRS) 17.

IFRS 17 introduces the concept of deferring profit and recognizing this profit over the duration of the contract. This significantly changes the way companies measure and account for long-term insurance contracts. This poses the question of whether current financial metrics will remain relevant (such as gross premiums as a basis for ranking) and even if so, new metrics will surely be introduced (such as the future profits for new business) upon adoption of IFRS 17.

Along with this key change, several requirements of IFRS 17 will force companies to implement changes to their data, systems and processes.

While local companies are given an additional one-year reprieve at this time, companies should ideally be either in the last stage of their impact assessment or in the early phase of their implementation.

Though the implementation experience varies from one company to another, several unique insights and lessons can be gained from each company’s IFRS 17 journey. We present seven important lessons learned from our own live IFRS 17 engagements which are bound to benefit the insurance industry.

1. DO IT NOW
It is essential for companies that have not started any IFRS 17 activity to begin with a comprehensive data gap analysis. This will provide a view of the extent of work needed to implement IFRS 17. While 2023 might seem far away, it will easily take an average of 12-15 months to change systems and processes that conform with the new rules. Extra time will be better spent on parallel runs rather than on impact assessment.

A detailed timeline including milestones and key dates should be clearly in place, with leeway for potential setbacks, whether these are caused internally or externally. Several key decision points that can affect the overall implementation journey also need to be addressed early on. The most critical of these is deciding whether the ambition level for change is for minimal compliance, smarter reporting, or a full finance transformation.

2. THE OPPORTUNITY TO UNLOCK THE POTENTIAL OF CROSS-FUNCTIONAL TEAMS
Implementing IFRS 17 is more than just an accounting and compliance task; it should encompass a team that consists, at a minimum, of the following competencies:

a. Accountants

b. Actuaries

c. Finance Subject Matter Experts

d. Technology Subject Matter Experts

e. Project and Change Managers

Currently, there is a scarcity of talent equipped with IFRS 17 knowledge and experience to lead and drive the implementation. A reasonable assessment of a company’s internal resources should be performed to match each employee’s skills and availability to identified workstreams. Accountants and actuarial resources for most insurers are already stretched with business-as-usual (BAU) activities and other ongoing conflicting internal initiatives. This resulting gap must then be properly addressed with IFRS 17 content owners and drivers, whether to hire new employees or contract external advisors. The team should also have a strong and effective project manager with IFRS 17 content knowledge to ensure everyone is on the same boat and that key stakeholders are well-briefed and engaged.

To plan for a sustainable future, companies need to adapt to an evolving relevant mix of resources, skills and capabilities to properly implement expected changes in the business under the new standard. A clear governance structure should also be in place to enable the timely alignment of key decision points.

3. LEARN TO MANAGE THE DETAILS IN THE DATA
IFRS 17 has extensive requirements for data quality, calculation, transfer and storage. Experience suggests that data cleansing should be initiated, considering both accounting and actuarial perspectives, before embarking on any data transformation. Though it may vary from one company to another, securing the availability of clean and controlled source data to be extracted can take longer than expected. Significant time in the project plan must be invested to determine how information would feed smoothly into the IFRS 17 Information Technology solution.

The vast data requirements will then need to be managed continually and effectively. This can be particularly useful for decision-making factors such as real-time data driven pricing models, “what if” scenarios, determining the most critical key performance indicators, and identifying high-risk transactions or customers.

4. EMBRACE TECHNOLOGY AS A KEY ENABLER
For large multinational companies, it is apparent that one of the significant line items in the IFRS 17 budget will be the cost of acquiring a new system or changing an existing one. Most companies expect to change existing systems to operationalize and further centralize their modelling systems. While certain life companies have decided on a software vendor, most are still in the process of vendor evaluation and selection.

One of the challenges encountered is the current assessment of system architecture. This pertains, but is not limited, to the complexity of system architecture, data granularity to support required reporting in the future, current functionality uses and existing model updates, the number of reporting basis and ledgers, and the alignment of various processes under one workflow software, whether this is built in-house or purchased.

There is no magic “one size fits all” solution available but companies in the midst of designing or upgrading their systems, need to revisit their programs to consider the potential impact of the proposed IFRS 17 amendments. In addition, a big consideration is to have an integrated data model covering both actuarial and finance systems, ensuring that the technology and data are aligned and not just the workstreams.

5. THE NEED FOR KNOWLEDGE TRANSFER AND STAKEHOLDER AWARENESS

IFRS 17 training should be provided to core team members to keep them abreast of current developments and proposed amendments. Collaborative awareness and education sessions must be continually adopted with a phased rollout approach not only for key team members but also for other relevant internal and external stakeholders. Moreover, members of the core team should be expanded to include members of BAU processes to facilitate a smooth transition.

6. TALK TO THE RIGHT PEOPLE EARLY ON
Participating in industry working groups, advocacy initiatives with local regulatory bodies, and submitting comments and feedback to the International Accounting Standards Board will enable companies to raise peculiarities or transactions requiring special handling. The earlier the concerns and challenges are heard and addressed, the easier it will be for companies to incorporate necessary action required in their implementation activities.

Proactiveness in reaching out to national standard-setting bodies and regional groups has a vital role in ensuring that the interests of the company are heard. These groups undertake relevant research, conduct surveys and identify emerging issues, thus providing further opportunities for companies to benchmark against the experiences and best practices of one another.

7. FORM A CHANGE MANAGEMENT TEAM
Consideration to turnover, the language, and communication methods for employees to manage resistance and change fatigue, should be in put in place. External stakeholders must also be included in the plan, as many will be interested to know the projected changes to key performance indicators and revenue-driven metrics that will serve as the new language when presenting business results.

A WAITING OPPORTUNITY
As the timeline shortens with the approaching deadline, the key to a successful and relatively smooth adoption generally rests on management ensuring that the collaboration of the several moving pieces is closely monitored. Companies can take this as an opportunity to adapt and emerge from the change to further drive growth and agility.

This article is for general information only and is not a substitute for professional advice where the facts and circumstances warrant. The views and opinion expressed above are those of the author and do not necessarily represent the views of SGV & Co.

 

Faith Mariel N. Reoyan is an Advisory Senior Manager of SGV & Co.

UST beats UP by 20 pts to force a rubber match

By Michael Angelo S. Murillo
Senior Reporter

THE stepladder semifinals of UAAP Season 82 goes the full route after the fourth-seeded University of Santo Tomas Growling Tigers defeated the second seeds University of the Philippines Fighting Maroons, 89-69, on Sunday to force a rubber match later this week for a spot in the finals.

At a twice-to-win disadvantage entering the game, the Tigers negated such handicap with a thorough collective pounding of the Maroons in front of a large crowd of 17,722 at the Smart Araneta Coliseum, to come to within one win away of making back to the finals of the University Athletic Association of the Philippines.

It was a close fight early on with the two teams fighting to a 7-5 count, and the Tigers on top, with 5:50 to go in the opening quarter.

UST then finished the period strong, outscoring UP, 12-8, to hold a 19-13 advantage after the first 10 minutes.

On the lead of CJ Cansino the Tigers continued to hold sway at the beginning of the second quarter, up, 27-15, by the mandatory TV timeout midway.

Kobe Paras and Bright Akhuetie tried to tow the Maroons to a fight back but with limited success as the Tigers did not relent on their attack, building an even bigger lead of 17 points, 41-24, at the half.

The Maroons came out with more aggressiveness in the third with Juan Gomez De Liano spearheading a 7-2 run to push Up to within 12 points, 43-31, at the eighth-minute mark.

Much like what they had been doing all game long, UST would find ways to stave off the UP challenge.

Rookie Mark Nonoy exploded and helped the Tigers to a 7-0 blast in the next two minutes to stretch their lead to 19 points, 50-31.

UP was not to be deterred by it, keeping the pressure on UST to stay within striking distance, 60-47, heading into the fourth.

Gomez De Liano and Ricci Rivero had UP charging to begin the payoff canto.

UST though still dictated the contest, ahead by nine points, 68-59, with five minutes left to play.

It was still a nine-point advantage for UST, 72-63, with 3:13 to go.

The Tigers further padded their lead with back-to-back triples from Sherwin Concepcion and Nonoy, pushing the count to 78-63, after just less than a minute.

Season most valuable player Soulemane Chabi Yo made it a 17-point lead, 80-63, with a basket at the two-minute mark.

From there it was all UST with the Tigers putting the finishing touches on their way to the victory.

Chabi Yo and Rhenz Abando led the Tigers with 17 points each with the former adding 15 boards.

Nonoy had 16 points while Concepcion and Cansino added 12 and 11 points, respectively.

For UP it was Gomez De Liano who led with 20 points with Akhuetie following him up with 19 points and 18 rebounds.

“It’s all about execution both on offense and defense. The players followed our game plan and my instructions and it really paid off in this game,” said UST coach Aldin Ayo after the game as he discussed what did it for them in the victory.

The do-or-die match between UP and UST is on Wednesday also at the Big Dome.

1...9,0439,0449,045...13,031Page 9,044 of 13,031
© 2024 BusinessWorld Publishing.
All rights reserved.
Read our privacy guidelines
Facebook Instagram Linkedin Twitter Youtube