WHILE the sudden resignation of Ricky Vargas as Philippine Olympic Committee (POC) president on Tuesday left questions over the country’s preparations as host of the 30th Southeast Asian Games later this year, the man who was tasked to replace him expressed determination to work to have little disruption in the buildup as possible.
Joey Romasanta, erstwhile first vice-president of the POC, assumed the presidency of the local Olympic committee after Mr. Vargas submitted his irrevocable resignation to give way to other sports leaders “who would have the time and inclination needed to lead the POC effectively.”
Mr. Vargas was meeting members of the POC Board when he tendered his resignation, made official by letter coursed through chairman Abrahan Tolentino.
The meeting was called to straighten things out in the POC and clarify issues hounding the country’s hosting of this year’s SEA Games.
In the letter, Mr. Vargas, who earlier expressed dislike for the “politics” surrounding Philippine sports, said his resignation was effective immediately just as he thanked all the athletes and national sports associations who supported him and his programs as POC president.
Mr. Vargas stepped down from his post a year and a half since taking the position in February 2018, a tenure that proved to be rocky with him not seeing eye-to-eye with some sports leaders on certain issues and policies.
It also came less than six months before the country hosts the 30th SEA Games in November to December.
Admitting to have been taken by surprise by Mr. Vargas’ decision, Mr. Romasanta said there is no way to go about it but just to move on and work for the successful staging of the Games.
Mr. Romasanta said first to be done is to take stock of where the preparations are at this point, pick up the pieces and take it from there.
“Anybody would regard this as a huge honor as POC president but not under these circumstances. It’s going to be very difficult. But at the same time we have to pick up the pieces and see what we have and what we don’t have especially with the SEA Games hosting challenge,” said Mr. Romasanta to members of media after being tasked as the new POC president.
“We have to regroup, communicate with the Philippine Sports Commission (PSC) to go through the plans and programs to make the SEA Games successful and work with Phisgoc chairman Alan Peter Cayetano. This is for the country after all. We hope to be better organized to ensure the success of the Games,” he added.
Mr. Romasanta said he is looking to have the POC and the PSC take greater participation in the preparation unlike in the current setup where the Philippine Southeast Asian Games Organizing Committee (Phisgoc) Foundation is at the lead.
The formation of the Phisgoc Foundation was one of the issues brought forth against Mr. Vargas by some members of the POC prior to his resignation.
Mr. Vargas reportedly was one of the eight original incorporators of Phisgoc Foundation, which the POC board members do not recognize because they said it was set up without their approval.
Mr. Romasanta, however, said he does not intend to cast aside Phisgoc entirely but instead leaning at making it a committee for the preparations.
In the aftermath of the sudden change in POC leadership, a special general assembly among POC members was set for next week.
FAILED to come up with the victory in the first leg of its 2019 AFC Cup ASEAN Zonal semifinals on Tuesday night in Bacolod City, Ceres-Negros FC now looks to regroup and finish the job in the next game.
Held to a 1-1 draw by visiting Hanoi FC at the Panaad Park and Football Stadium, Ceres said it rued the result but that it remains positive that it would do better in the second leg in Vietnam on June 25.
The first leg was very competitive at the onset with the two teams fighting for early control of the match.
Both had their chances but the count would stand at nil-nil by the halftime break.
The tie was broken in the 57th minute when tournament scoring leader Bienvenido Maranon gave Ceres the go-ahead goal, 1-0, heading the ball off a cross from teammate Stephan Schrock.
But Hanoi would not stay down for long, scrambling to get back the point it gave.
The levelling goal came 10 minutes later with midfielder Pape Omar Faye finding the bottom of the net after being set up by Pham Thanh Luong.
The two squads battled it out the rest of the way, looking to get another point to hand them the win but none would come as time expired, leaving the teams settling for the draw.
While they are happy with their effort on home turf, the “Busmen” said they should have won the contest and now have to prepare hard for the next game.
“We are happy for the effort but we did not get the win. We have to prepare for the next game,” said Mr. Maranon in the post-match interview.
For Ceres coach Risto Vidakovic, while the road to advancing to the next round of the tournament was only made difficult by the draw, Ceres is still not out of it but needs to deliver in the second leg.
“Everything is still open. They (Hanoi) are a strong team and are playing at a high level. We have to match them,” the Ceres coach said.
The second leg of the Ceres-Hanoi zonal semifinals will be played at the Hang Day Stadium in Hanoi. — Michael Angelo S. Murillo
FILIPINO racecar driver Daniel Miranda continues to impress at the TCR Asia Series, making another strong performance at the Shanghai International Circuit. The June 1-2 race weekend saw the Cebuano bring the fight to the fastest drivers on the grid and come out as the top Asian driver.
Miranda, however, admitted that he and Eurasia Motorsport struggled with car setup early on. It also took him several sessions to acquaint himself with the 5.451-km F1 circuit before he could truly push the #20 Hyundai i30 N TCR with full confidence. But once everything was sorted out, Miranda was able to set the 8th fastest time in the qualifying race out of a combined 21-car grid of TCR Asia and TCR China.
Backed by Cebuana Lhuillier, Miranda got to a good start off the line in Race 1 and was up to P6 at the end of the first lap. He then had to defend his position against his hard-charging rivals, but at the cost of his tires. The lack of grip eventually slowed him down in the closing stages of the race and he ended up 9th overall and 2nd in the Asian Drivers’ classification.
“I’m so elated and proud of Daniel’s strong performances. Cebuana Lhuillier will continue to support him as I strongly believe that he has what it takes to become one of the best drivers not just in Asia but in the whole world.” said Jean Henri Lhuillier, president and CEO of Cebuana Lhuillier and a recognized sports patron.
Miranda made up for lost ground the following day with a brilliant drive in Race 2. Starting from P3 on the grid, he shot up to P2 on the run to the first corner and battled with the top TCR drivers from Europe and South America. He showed good pace and even made several attempts for the lead, but inadvertently left the door open for his competitors to get past. Despite the slight misstep, Miranda continued the fight for position and crossed the finish line as 5th overall and landed on the podium with 1st place in the Asian Drivers’ class.
“Although we encountered some challenges over the weekend, I’m very happy to make a podium finish in Shanghai. This is only my first year in TCR Asia and it feels amazing to be able to compete on the same level as the top three or four drivers on the grid who have more racing experience around the world. I learned a lot from them and hope to continue on learning for the next two races in Zhejiang and Bangsaen which I have never visited before,” Miranda said.
The Hyundai Motorsport Customer Racing Junior Driver currently sits 4th overall in the championship and extends his lead in the Asian Drivers’ standings to 29 points. After a short one-month break, the TCR Asia Series will resume on July 5-7 at the Zhejiang International Circuit for the penultimate event of the 2019 season.
LOS ANGELES — The Los Angeles Lakers, with LeBron James in place and Anthony Davis on the way, reportedly are attempting to clear enough salary-cap space to make a run at a third star player this summer.
According to ESPN’s Adrian Wojnarowski and Bobby Marks, the Lakers are looking to expand the agreed-upon trade that would bring in Davis from the New Orleans Pelicans, hoping to add other teams who might take fringe players off their hands.
It’s all part of the Lakers’ efforts to boost their available money from the current $23.8 million up to $32.5 million.
Those who could be on their way out of Los Angeles, according to the report, are Moritz Wagner, who made $1.76 million last season and is due to make $2.06 million in 2019-20; Jemerrio Jones, who made $52,170 last season and is due to make $1.42 million next season; and Isaac Bonga, who received $1 million last season and is set to get $1.66 million in the upcoming season.
The Lakers also would need Davis to waive the $4 million trade bonus that he is contractually due to receive in order for his new team to reach its desired salary-cap level.
Moritz, a 22-year-old who was a first-round pick last year, averaged 4.8 points and two rebounds per game as a rookie. Jones, 24, appeared in just six games last season, producing 4.5 points, 8.2 rebounds and 2.2 assists per game. Bonga, 19, averaged 0.9 points and 1.1 rebounds in 22 games for the Lakers.
Last weekend, the Lakers agreed to send Lonzo Ball, Brandon Ingram, Josh Hart and three first-round picks to the Pelicans in exchange for Davis.
The New York Times reported that Charlotte Hornets guard Kemba Walker is expected to be a top target in free agency for the Lakers in the wake of the Davis deal. The Lakers also managed to keep forward Kyle Kuzma, one of the players mentioned earlier in a possible deal. — Reuters
THE FOURTH edition of the Negros Occidental Football Association Cup (NOFA Cup) held recently in Bacolod City received commendation from sports advocates who cited the tournament’s organization and mission to develop grassroots football.
Among the officials who graced the 2019 NOFA Cup were: Negros Occidental Governor Alfredo Marañon, Philippine Sports Commission (PSC) Chairman William “Butch” Ramirez, Philippine Football Federation (PFF) General Secretary Atty. Edwin Gastanes, PFF Coaching Education Head Marlon Maro, PFF Head of Youth Development Reiji Hirata, among others. The five-day event also gathered top football coaches and former national team players to observe and support their respective squads.
The 2019 NOFA Cup U-13 tournament had 24 teams from Luzon, Visayas and Mindanao. The tourney is developmental in nature; teams are not charged tournament fees and each player receives a financial subsidy per match day. Among the participants was Marawi Ground Zero, a team of boys who have taken up the sport in the war-torn city.
Chairman Ramirez, a first-time guest at NOFA Cup, commended NOFA for investing their resources to mold the skills and character of young athletes. “I applaud Ricky Yanson and his association for dedicating their effort and time for the children because it is a lasting legacy that they are giving them.” The PSC Chairman expressed hope that philanthropic organizations and individuals would mount similar developmental football tournaments. “I would like to inspire other regions to duplicate what NOFA is doing,” said Chairman Ramirez.
Coaches appreciated the level of competition that NOFA Cup provided. Alvin Ocampo, coach of One La Salle said, “We would like to extend our gratitude to NOFA President Sir Ricky Yanson and organizers for once again, bringing a well-organized and highly competitive U-13 nationals!”
Dynamic FC — the champion of the 4th NOFA Cup.
Roxy Dorlas, coach of Loyola FC, likewise, thanked NOFA for the chance to pit their talents against strong teams from other parts of the country, while experiencing Negrense culture. “It was a great environment to learn to play football and at the same time bring our Loyola family closer together,” said Coach Roxy.
Bob Salvacion, sports director and football program head of Claret School of Quezon City said his team’s involvement was a boost to their program, “Malaking tulong… We were able to assess the performance of our players after every match,” said Coach Bob.
Greg Ramos, coach of Bukidnon’s Golden Harvest FC and Associate Professor at Central Mindanao University, noted that NOFA Cup’s impact goes beyond its intended mission. “They are making a humanitarian, socio-cultural and sports contribution,” he said.
Days after the championship was won by Dynamic FC of Bacolod, Mr. Yanson and his team were soon at work to prepare for the next NOFA Cup. Among their plans include partnering with the Philippine Football Federation for regional elimination matches, and establishing a girls’ division in the tournament.
For updates about the NOFA Cup, follow Negros Occidental Football Association on Facebook.
GM Daniil Dubov was born April 18, 1996 in Moscow, making him 23 years old now. He has already racked up the following chess accomplishments:
GrandMaster Daniil Dubov
2011 Moscow Rapid Chess Champion
Won the 2012 Russian Higher League Championship and qualified for the SuperFinals, at 16 years of age considered quite a feat. In the SuperFinals proper though Daniil finished in the bottom half.
2013. In the Tromso World Cup he eliminated Sergey Fedorchuk in the first round and upset former world champion Ruslan Ponomariov in the second before getting knocked out by Anton Korobov in the third.
2017. Dubov once again won the Russian Higher League and qualified for the SuperFinals where he put in a creditable performance, winning the bronze medal behind Peter Svidler and Nikita Vitiugov.
2018. Recruited by Magnus Carlsen to second him for his world title defense against Fabiano Caruana. Later that same year Dubov won the World Rapid Chess Championship ahead of Magnus Carlsen, Shakhriyar Mamedyarov and Hikaru Nakamura.
But still he gets no respect. In the Moscow Grand Prix (if you will recall, this is a 16-player match-tournament which was played KO style) last month GM Dubov eliminated the highest rated player Anish Giri in the first round. In the second round he was matched against GM Hikaru Nakamura. After two draws in the classical games they had to go to rapid chess tie-breaks.
Before the rapid games started WFM Eteri Kublashvili, FIDE’S Press Officer for the event, interviewed Dubov (who was standing beside Nakamura) and asked him: “And now you’re going to play on tiebreaks against one of the strongest speed chess players in the world… so what are your expectations from this match?”
Dubov was shocked at the question and blurted out: “Whom are you talking to?”
Everybody broke out laughing, but truth be told the question of Kublashvili was tactless, as it was the World Rapid Champion Daniil Dubov taking on the rapid world no. 2 Hikaru Nakamura.
Now we come to the point of this article. As our readers know Magnus Carlsen has recently been on a winning streak. Starting the World Blitz Championship (as I said earlier the Rapid section was won by Dubov) he has not faltered:
World Blitz Championship. St. Petersburg Dec. 29-30. This was a 21-round event which Magnus Carlsen won with 17/21 ahead of Jan-Krzysztof Duda (16.5/21) and Hikaru Nakamura (14.5/21).
Tata Steel, Wijk aan Zee, the Netherlands. Jan. 12-27, this year. Carlsen won the Tata Steel tournament for a record seventh time.
Gashimov Memorial, Shamkir, Azerbaijan. On March 30-April 10. The average rating of the competitors was 2778 (!), a category 22 event. Nevertheless Magnus Carlsen won with 7/9, five wins and four draws for a stupendous 2988 performance.
Grenke Chess Classic, Karlsruhe and Baden Baden, Germany. April 18-29 this current year. This was another spectacular performance. Average rating is 2724, category 19. Carlsen scored 7.5/9, 6 wins, 3 draws, performance rating of 2983.
Ivory Coast Rapid+Blitz. On May, this year also. Magnus had no trouble securing a win and he clinched first place with two rounds to spare. His final score of 26.5/36 was 3.5 points ahead of Hikaru Nakamura and Maxime Vachier-Lagrave who finished on 23/36.
Lindores Abbey, Nat 25-26, 2019. This was a two-day rapid event which Magnus won with 3.5/6 ahead of Ding Liren and Sergey Karjakin with 3/6.
Norway Chess. Just concluded.
Not only did Magnus Carlsen win those tournaments in dominant form, but his chess has been sharp, and aggressive. Whereas before his match with Caruana, opponents used to fear getting ground down in the endgame, they are now seeing some fast and violent end in case Magnus gets any sort of advantage because of some obscure and tiny mistake. What’s brought about that change? Magnus himself explained it:
“I’ve been influenced by my heroes recently, which is AlphaZero and also one of my seconds from the World Championship, Dubov, who has a lot of these ideas with sacrifices in the opening. In essence I’ve become a very different player in terms of style than I was a bit earlier, and it’s been a great ride!”
Have you seen Dubov’s games?
Giri, Anish (2787) — Dubov, Daniil (2690) [A16]
Moscow FIDE Grand Prix
Moscow RUS (1.1), 17.05.2019
1.Nf3 Nf6 2.c4 g6 3.Nc3 Bg7 4.e4 e5!?
POSITION AFTER 4…E5
This “crazy” move has a very poor score, but Dubov has a new idea.
5.Nxe5 0–0!?
Previously Black would recover his pawn right away with 5…Nxe4 but it does not end well: 6.Nxe4 Bxe5 7.d4 Bg7 8.Bg5 f6 9.Be3 0–0 10.Nc3 material is equal but White has a superior development and attacking prospects. Lopez Martinez, J. (2474)-Mamedyarov, S. (2503) Leon 2001 1/2 59;
Or 5…Qe7?! 6.Nf3 Nxe4 7.Nd5 Qd8 8.d3 (8.Qe2? 0–0) 8…Nf6 9.Qe2+ Kf8 10.Nxf6 Bxf6 11.Bh6+ Bg7 12.Qd2 White has a big edge. Sorokin, M. — Alonso, S./Buenos Aires 1998 1–0 (32)
He should have continued pushing with 21…c5! bgecause now if 22.d5 he has the response 22…c4 23.Qc2 Nc5 White’s position is still under great pressure.
Dubov, Daniil (2703) — Jumabayev, Rinat (2602) [A22]
World Rapid 2018 St. Petersburg RUS (2.17), 26.12.2018
1.c4 e5 2.Nc3 Nf6 3.g3 Bc5 4.Nf3 e4
GM Rinat Jumabayev (born July 23, 1989) is one of the new generation of strong GMs from Kazakhstan. He has represented his country in the Olympiads and Asia in the 2011 Chess World Cup in Khanty-Mansiysk. He is an aggressive player.
5.Ng5
Most people I know would prefer 5.d4 , but Dubov provokes …Bxf2+
White has gone for a rare line where he sacrifices a pawn and it is not clear how he can get it back.
6…e6 7.0–0 Bb7 8.b3 Bb4
It seems to me that in answer to 8…cxb3 Dubov intended might be met by 9.d5!? with great complications. Postny avoids the opening preparation and strives to develop his pieces.
9.e5! Bxc3 10.exf6 gxf6
[10…Bxa1 11.fxg7 Rg8 12.Bg5 f6 13.Bh6 Bc3 14.Qc2 striking at the c3–bishop as well as h7 14…Bb4 15.Qxh7 Kd7 16.bxc4 Kc7 17.Rb1 Black has an extra rook but White’s attack is looking very dangerous]
11.Rb1 c5!
Black gives back some material to activate his pieces.
All these tactics have tired out Postny and he makes a serious error. Better was 18…Rc8! threatening …Nc5. After 19.Qf3 d3 20.Rb3 Be5 21.Rxd3 Qc6 White’s advantage would have been minimized.
19.Ba3 Rc8 20.Qg3!
With the immediate threat of Qg7.
20…Qxc4 21.Qd6! Bb4
[21…Qc7 22.Qxa6]
22.Bxb4 1–0
You should put the name of Daniil Dubov in the list of players to follow. We all might learn something from this 23-year old.
Bobby Ang is a founding member of the National Chess Federation of the Philippines (NCFP) and its first Executive Director. A Certified Public Accountant, he taught accounting in the University of Santo Tomas for 25 years and is currently Chief Audit Executive of the Equicom Group of Companies.
Not a few quarters have deemed the blockbuster Anthony Davis trade as a win-win development, and with ample reason. The Pelicans, thought to have a future ransomed by their erstwhile top dog, received an embarrassment of riches slated to propel them to respect and respectability through the medium term. Meanwhile, the Lakers, in the limelight for one dramatic on- or off-court misstep after another, found themselves hogging headlines in a manner befitting their storied past. The outlook became much brighter for both, their distance from their desired destination and their continued movement of pieces on the board notwithstanding.
Amid all the celebration, the deal’s negative effects on another prominent protagonist has gone largely unnoticed. Indeed, the plight of the Celtics has been viewed as an afterthought, never mind the not inconsiderable lengths they went through to prepare for Davis’ arrival. How ambitious was their aim to nab him? They set the wheels in motion as early as two years ago, with subsequent moves serving to reinforce the notion that they were his wealthiest and best-positioned suitor. And, for a long while, they looked well on their way to meeting their objective.
Unfortunately, the Celtics ran into a string of bad luck. First, Davis switched agents and latched on to Rich Paul, who just so happened to be LeBron James’ close friend and official representation. Second, they suffered from their overachievement in the 2018 playoffs. Having come close to reaching the Finals with stars Kyrie Irving and Gordon Hayward convalescing from injuries, they began their next campaign with outsized expectations that, as things turned out, they didn’t even come close to meeting.
That the Celtics managed to thwart the Lakers’ initial overtures for Davis prior to the trade deadline speaks to the value of the assets they hold. The Pelicans knew he had long been their target, and naturally wanted them to make a bid commensurate to their intentions once rules allowed their participation in the sweepstakes. When the offseason came around, however, they carried with them baggage borne of their postseason failure. And with Irving ghosting them and increasingly likely to bolt in free agency, they saw their best-laid plans going awry and thereby became compelled to exercise caution in negotiations with the Pelicans.
The rest, as the cliche goes, is history, and the Celtics can’t be happy with their prognoses. Never mind their inability to spread the welcome mat for Davis. Irving is most likely gone, with Al Horford, their most consistent competitor, not far behind. Left in the wake of presumptive departures — and non-arrival — is a roster replete with promise but not much more. A lot has been made of their capacity to come close to claiming a seat in the Finals last year; forgotten in the run-up is how close they likewise came to being sent home by the Bucks in the first round.
True, the Celtics can go after a bevy of free agents using the cap space the probable exits of Irving and Horford will yield, not to mention the draft rights they hold. Nonetheless, the fact that they still need to be active in the secondary market underscores the stunting, if not reversal, of their progress. At this point, they aren’t even sure restricted free agent Terry Rozier — who had a down season as a reserve after playing a starring role in their deep playoff run last year — wants to be back in the fold. For all the supposed frailties of the so-called Leastern Conference, a roster starring Jayson Tatum and Jaylen Brown projects to win six less games through their 2019-20 campaign, good for a low playoff seed and not enough for them to cast moist eyes on the Larry O’Brien Trophy.
Certainly, the Celtics were wise not to go all in on Davis. Then again, they have to take a gamble sooner or later. Unless and until their assets are turned into marquee names, potential is all they’ll have. Not good in the immediate term, which features a wide-open race for the hardware in light of the dismantling of the Warriors dynasty. And not good in the longer term, which wrongly banks on their youth program netting them transcendent talents.
Anthony L. Cuaycong has been writing the Courtside since BusinessWorld introduced a Sports section in 1994. He is a consultant on strategic planning, operation and Human Resources management, corporate communications and business development.
THE PESO strengthened further against the dollar on Wednesday as market players waited for the results of the US central bank’s policy meeting.
The local unit closed the session yesterday at P51.89 against the greenback, 10 centavos stronger than the P51.99-per-dollar finish on Tuesday.
The peso traded in a tight range, opening the session stronger at P51.85 versus the dollar. It climbed to a high of P51.83, while its intraday low stood at P51.945.
Trading volume rose to $902.45 million from the $763.9 million that switched hands the previous session.
A trader said the peso moved sideways yesterday due to the policy meeting of the US Federal Reserve.
“We didn’t see much volatility in the market. We just traded sideways with nothing really to move the dollar-peso,” the trader said in a phone interview.
The Fed’s policy-making Federal Open Market Committee is widely seen to keep benchmark rates steady during its June 18-19 meeting, although the central bank is seen to trim its interest rates sometime this year.
Another trader said the peso continued to strengthen amid heightened expectations of a dovish Fed after European Central Bank President Mario Draghi said policy rates in the Eurozone might be reduced if inflation remains steadily low.
Meanwhile, the first trader said the peso traded stronger in the offshore market Tuesday night amid increased risk appetite, driven by the positive news on US-China trade relations.
“That affected the market overnight. With that, we saw risk on sentiment across almost all financial markets overnight,” the first trader said. “That would be good for the emerging markets such as the Philippines.”
For today, the first trader expects the peso to move between P51.65 and P52.05 versus the dollar, while the other gave a tighter P51.80-P52 range. — KANV
THE MAIN INDEX clawed its way back to the 8,000 level on Wednesday, rising along with the rest of the world on hopes of a trade deal between the United States and China.
The benchmark Philippine Stock Exchange index (PSEi)jumped 1.19% or 94.97 points to close at 8,017.01 yesterday. The broader all-shares index likewise advanced 0.76% or 37.07 points to 4,882.57.
“Philippine stocks surged as investors increased bets on a trade deal after President Trump announced a meeting with Xi Jinping at the G20 summit. Hopes of easier monetary policy also lifted sentiments,” Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a mobile phone message.
US President Donald Trump confirmed he will be meeting with Chinese President Xi Jinping at the G20 Summit in Japan at the end of the month to discuss a possible trade deal. He, however, noted that the agreement between both sides must be fair.
The announcement comes amid Mr. Trump’s threats that he will impose tariffs on another $300 billion worth of Chinese goods if they fail to strike a trade agreement. This will come on top of tariffs already imposed on $200 billion worth of Chinese goods.
This prompted a positive reaction from Wall Street, as the Dow Jones Industrial Average racked up 1.35% or 353.01 points to 26,465.54. The S&P 500 index edged higher by 0.97% or 28.08 points to 2,917.75, while the Nasdaq Composite also rallied 1.39% or 108.86 points to 7,953.88.
Asian markets also got a boost from hopes of the renewed trade deal.
Back home, all sectoral indices were in positive territory, led by holding firms which soared 1.39% or 105.34 points to 7,656.44.
Property climbed 1.38% or 58.88 points to 4,321.44; services rose 1.19% or 19.98 points to 1,698.87; financials went up 1% or 17.18 points to 1,732.11; mining and oil gained 0.53% or 37.97 points to 7,157.34; while industrials firmed up 0.25% or 29.19 points to 11,690.28.
Some 1.33 billion issues valued at P7.30 billion switched hands, lower than Wednesday’s P7.96 billion.
Advancers outpaced decliners, 106 to 81, while 53 names were unchanged.
Foreign investors switched to a net selling position at P26.43 million, versus the previous session’s net inflow worth P173.55 million.
“Events to watch out for now would be the decision of two central banks — the Fed’s which would come out very early in the morning tomorrow, and our very own BSP (Bangko Sentral ng Pilipinas) in the afternoon,” Papa Securities Corp. Sales Associate Gabriel Jose F. Perez said in an e-mail.
The US Federal Reserve was set to conclude a two-day meeting earlier in the day, while the BSP will meet this afternoon to review its own policy settings.
AGRICULTURE Secretary Emmanuel F. Piñol on Wednesday said the 22 fishermen of the sunken boat F/B Gem-Vir 1 are now “uncertain” whether their boat was intentionally sunk by the Chinese vessel it encountered off Recto Bank in the West Philippine Sea on June 9.
Mr. Piñol was in Mindoro on Wednesday to meet with the 22 fishermen with an offer of government assistance.
Jonel Insigne, the captain of the Filipino boat, said in an interview with News5 last week: “Sinadya ‘yon. Kasi kung hindi…dapat tutulungan kami (It was done purposely. Because if it was not intentional, they should have rescued us).”
Asked on Wednesday if he was still standing by his statement, Mr. Insigne told reporters in a televised news conference: “‘Yun lang talagang sinadya nila yung pag-iwan po sa amin (The only thing that was done on purpose was when they abandoned us).”
At one point, Mr. Piñol grabbed the microphone saying: “I would like to clarify kasi parang lumalabas dito na dumidepensa kami (because it appears as if we are defending ourselves here). We would like everything to come out in the open. The truth. We are not slaves to anybody, but we adhere to the truth.”
When the captain was asked again why he was changing his tune on the matter, he said: “Masama po ang loob ko dahil iniwan po kami (I feel bad because they left us).”
Then Mr. Piñol interjected saying: “They are not certain anymore.”
‘I WILL JUST FRAME WHAT HE SAID’
“Kaya nga ang pinakamaganda… i-frame ko lang ang sinasabi nya. Ang sinasabi n’ya…nasabi n’ya na sinadya silang banggain sa sama niya ng loob na dahil iniwanan sila (That is why it’s better to… I will just frame what he said. He is saying that the reason why he said they were intentionally hit by the Chinese vessel was because he felt bad that they abandoned them).”
“Right now they are not certain anymore. So my view is that the right thing to do is to conduct an impartial inquiry so that the truth will come out,” Mr. Piñol said further.
Mr. Insigne also clarified to reporters, in Mr. Piñol’s presence, that the President did not invite him to the Palace.
“Humihingi po ako ng paumanhin sa ating mahal na Presidente na hindi po pala ako pinatawag n’ya, kundi po si Secretary Piñol po ang nagpatawag sa akin. Hindi po ako tumuloy, umatras po ako dahil masama po ang pakiramdam ko (I would like to apologize to our beloved President. It was Secretary Piñol who invited me, not him. I backed out because I was not feeling well),” he said.
He added, “‘Yun nga po humihiling po ako sa ating mahal na Presidente na sana po ma, ma ano po ‘yong bumangga sa amin na ‘yong kapitan po, gusto ko po ma– (I am asking for help from our beloved President that hopefully the captain of the vessel that hit us will be-).”
Mr. Piñol was heard coaching the captain saying: “Mapanagot (will be held liable).”
The captain continued, “Mapanagot po ‘yung kapitan ng… ‘yun lang po ang hinihingi ko sa ating mahal na Presidente (Will be held liable. That is all I am asking from our beloved President).”
Mr. Piñol said he will recommend to the President to “secure” the Recto Bank area and make it an “exclusive” fishing ground for Filipino fishermen.
“The fishermen are asking the President that the Recto Bank should be their exclusive fishing ground. [I will] ask the President to secure the area,…” he said.
In a phone interview, University of Santo Tomas Political Science professor Marlon M. Villarin said when sought for comment: “He (the captain) changed now. Diba nagbago talaga s’ya ng tono eh. But this will not change the public perception that Filipino fishermen are being belittled and being bullied in our maritime territory.”
Also sought for comment, UST Political Science Department chairperson Dennis C. Coronacion said in a phone message: “Secretary Piñol must have said something in that meeting that convinced the Filipino fishing boat captain to change his statement.”
“It’s obvious that Malacañang is on the move to put a stop on the mounting critical public opinion about the President’s soft statement. And their strategy is quite simple: to make the source of the story change, or doubt, his own account of what actually happened. The new story should be in line with the President’s downplaying of the incident. It should diffuse the tension created by the original account, which aroused the Filipinos’ nationalist sentiment.”
For his part, Defense Secretary Delfin N. Lorenzana on Wednesday described the incident as “just an accident.”
“Maybe the other side didn’t mean to brush against our boat,” Mr. Lorenzana said at a televised briefing in Manila.
LOAN TO FISHERMEN
Mr. Piñol, for his part, said that 11 fiberglass fishing boats and P550,000 worth of loans or P25,000 for each of the 22 fishermen will be provided to them, while the boat owner, Arlynda Dela Cruz, will receive P1.2 million as grant.
The financial assistance will come from the Survival and Recovery (SURE) Loan Assistance of the Agricultural Credit Policy Council (ACPC), which is payable in three years with no interest. Each of the fishermen also received one sack of rice from the DA.
Mr. Piñol said that he has tapped Philippine Amusement and Gaming Corp. (PAGCOR) for additional funding.
The said incident caused the fishermen P2 million worth of damage, which includes three tons of fish with an estimated cost of P1 million, as well as P500,000 in capital, and P700,000 for the fishing boat.
For his part, Senior Associate Justice Antonio T. Carpio called on the youth to continue defending the country’s rights on the West Philippine Sea as well as other resources in the territory.
“We have to continue defending West Philippine Sea because that’s our duty,” Mr. Carpio said during the oath taking of re-elected Kabataan Party-list Representative Sarah Jane I. Elago.
“My generation laid the foundation by winning the arbitral ruling that the West Philippine Sea belongs to Philippines and the next generation, including your generation, must build on this foundation so that our exclusive economic zone (EEZ) in the West Philippine Sea will belong truly to the Filipinos and all the resources there — the fish, oil, gas and other resources — will be enjoyed exclusively by Filipino citizens — including Reed Bank because that’s part of our EEZ,” he added.
For her part, Ms. Elago said that the youth accepts the challenge to take care of the resources belonging to the Philippines.
“Sa part naman po ng kabataan, tinatanggap po naming ang hamon na pangalagaan po ang ating yamang lakas, ang mga napanalo niyo na noon na para sa mga susunod pang henerasyon,” she said.
(For the part of the youth, we accept the challenge to take care of our natural resources, and what you have won before for the next generations.) —with reports byVincent Mariel P. Galang, Vince Angelo C. Ferreras, Vann Marlo M. Villegas,andBloomberg
PRESIDENT Rodrigo R. Duterte is set to decide by June 28 on the candidate he will endorse for the House speakership, according to Senator-elect Christopher Lawrence T. Go.
In an interview with reporters on Wednesday, Mr. Go said the President “hosted a dinner” for neophyte congressmen on Tuesday night where he appealed for more time to decide on the matter.
“Doon po [sa dinner] napag-usapan. Doon po nabanggit ni Pangulong Duterte na bigyan siya ng kaunting panahon (It was tackled during the dinner. The President asked for more time),” Mr. Go said.
In a Facebook post, Quezon City 1st District Rep. Peter Anthony “Onyx” Crisologo said the “fellowship dinner of newly-elected congressmen,” which took place at the Malago Clubhouse in Malacañang, was “hosted by [Davao City 1st District] Congressman [Paolo] ‘Pulong’ [Z.] Duterte.”
Mr. Go said further, “Actually humingi po ng konting panahon si Pangulong Duterte. Talagang nahihirapan po siya. Lahat naman po ng mga kandidato ay magagaling. Competent naman po sila. Qualified po sila maging… Speaker po ng House (Actually, President Duterte is asking for more time. He is really having a hard time. All of them are competent, qualified to be Speaker of the House).”
“At humihingi si Pangulong Duterte up to June 28, kung gusto nila na si Pangulo…. Mas nanaisin ni Pangulo na hindi na po siya ang pumili subalit talagang binabalik sa [kanya ng] mga miyembro ng House na pumili siya para makatrabaho na po kaagad sila bago pa po dumating iyong SONA (The President is asking for time until June 28, if they really want him [to choose]. The President prefers not to choose, but House members are really asking him to choose so they can start working already even before the State of the Nation Address).”
One of the guests, according to Mr. Crisologo’s post, is reelected Marinduque Rep. Lord Allan Q. Velasco.
Mr. Duterte said in a speech last month that Mr. Velasco and Congressmen-elect Alan Peter S. Cayetano of Taguig, Pantaleon D. Alvarez of Davao del Norte, and Ferdinand Martin G. Romualdez of Leyte had informed him of their intent to run for speaker.
On May 27, the President told newly-appointed officials at Malacañang, “Sa speakership, wala akong kinakampihan (I am not taking anyone’s side regarding the speakership). I am on my last three terms. Gusto ko lang (All I want is) to do good and if that good is not good for everybody, well I’m sorry. ‘Yan lang ang makaya ko (That is all I can do).”
THE HOME Development Mutual Fund (Pag-IBIG) in a statement on Wednesday defended the pay raise for its officers and employees as “merely salary step increments to address years of inflation,” not salary increases which require approval from Malacañang.
The statement was in response to a report by the Commission on Audit which flagged P248.319 million in increases last year as illegal.
Quoting Secretary Eduardo D. del Rosario, chairman of the Housing and Urban Development Coordinating Council and of Pag-IBIG Fund’s Board of Trustees, the statement said ‘the step increments are within the powers of its Board based on Pag-IBIG’s Compensation Plan. Since there was no increase in salary rates nor new benefits granted, Presidential approval is not required.”
“I want to assure the public that the grant of step increments in 2018 was proper, done according to the right process and, most importantly, was not excessive. We have only adjusted the salaries of Pag-IBIG Fund officers and employees to be, more or less, on the same level of SSL (Salary Standardization Law)-4, which is currently being received by employees of other government institutions. We would like to assure all, our members in particular, that we continue to adhere to the directive of President Rodrigo Roa Duterte in safeguarding the workers’ fund,” Mr. del Rosario said in the statement.
For his part, Pag-IBIG Fund CEO Acmad Rizaldy P. Moti was quoted as saying, “The Board considered all bases when the step increments were granted in 2018. The intention behind the grant of step increments under the Compensation Plan of Pag-IBIG Fund was not to raise the salaries of officers and employees — but rather to maintain the purchasing power and value that they had in 2009 or 10 years ago when the Fund’s Compensation Plan was first adopted.”
Mr. Moti “clarified that the agency’s Board went through all the requisite processes and ensured that all conditions were met prior to the granting of the step increments,” the statement said.
“We have to put things into context here. The step increments were granted, in strict accordance with existing rules, to employees of the Pag-IBIG Fund who are occupying permanent positions. The members of the Board who approved the grant, which include myself, were not covered by the step increments because we are presidential appointees. The grant went to career employees and officers who worked hard in order to achieve record-breaking feats and made 2018 the best year ever for Pag-IBIG Fund,” Mr. Moti also said. — withVince Angelo C. Ferreras
