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Eden Nature Park brings back campsite evenings this summer

EDEN NATURE Park and Resort in Davao City has lined up evening campsite activities this summer to give guests a taste of the glamorous camping, or glamping, experience. Brenda A. Ocampo, the resort’s director of sales and marketing, said they introduced the package last summer and this brought in 100% occupancy. “This is something new in Davao. A fusion of glamour and camping and we offered exciting activities and majority of our guests are locals composed of millennials and even senior citizens. Rain or shine, the guests are willing to wait to watch and participate in the activities,” Ms. Ocampo said. Guests do not need to pitch a tent as accommodations are provided at the resort’s cottages, but they can enjoy a bonfire, barbecue, fire dancing, or even a movie outdoors at night. The 80-hectare Eden Nature Park has floral and vegetable gardens, a Mindanao cultural park, walking trail, horseback riding, and various recreational activities such as skycycle and skyrider. — Maya M. Padillo

Nation at a Glance — (04/17/19)

News stories from across the nation. Visit www.bworldonline.com (section: The Nation) to read more national and regional news from the Philippines.

Nation at a Glance — (04/17/19)

Experience key for SMB in tough series with Phoenix — Leo Austria

By Michael Angelo S. Murillo
Senior Reporter

THE DEFENDING champions San Miguel Beermen are now up 2-0 over the Phoenix Pulse Fuel Masters in their best-of-seven PBA Philippine Cup semifinal series. But it has not been easy for the Beermen, they admit, with the joust having them relying a lot on their collective experience.

Following their 92-82 win in Game Two on Monday, the Beermen doubled up on the top seeds Fuel Masters and moved just two games away from advancing to the finals of the season-opening Philippine Basketball Association tournament.

It is a situation that San Miguel is welcoming with open arms as the team, loaded as it is, is being made to work hard by Phoenix.

“Wow. It’s draining. We are lucky to escape this game as a winner. We knew from the start that this one was going to be a hard game. They know how to disrupt our game. Credit to the players for they knew what to do,” a relieved San Miguel coach Leo Austria said after their hard-earned victory last time around.

“Our players refused to lose. Even though we were struggling, they knew the importance of this game. Because of their experience they were able to come back,” the coach added.

In Game Two, Phoenix took control of the opening half, steadily keeping the Beermen at bay.

In the third quarter, however, the Beermen started to make their move on the lead of June Mar Fajardo and Marcio Lassiter.

The two teams battled it out up to the closing minutes of the contest before San Miguel sped to create some separation in the end to book the win.

Mr. Lassiter led the Beermen with 24 points, followed by Mr. Fajardo with 19 points on top of 18 rebounds.

Terrence Romeo came off the bench to add 14 points of his own while Alex Cabagnot and Von Pessumal eight points apiece.

For Phoenix it was once again the duo of Calvin Abueva and Matthew Wright who showed the way.

Mr. Abueva finished with 16 points, 10 rebounds, six assists, three steals and two blocks before fouling out while Mr. Wright had 13 points.

RJ Jazul, Jason Perkins and Justin Chua had 12 points each for Phoenix, which is in its first semifinal appearance in the PBA.

While they are up 2-0 in the series, Mr. Austria said it is not yet over and they have to continue working during the Lenten break to be ready for Game Three.

“It’s far from over. We will have a break and Phoenix will have time to regroup and prepare. Going up 2-0 is not an assurance of passage to the finals. We know that firsthand,” Mr. Austria said.

Game Three of the San Miguel-Phoenix series is set for Easter Sunday, April 21, at 6:30 p.m. at the Smart Araneta Coliseum.

Sixers ride 51-point 3rd quarter to rout Nets; Clippers nip Warriors

LOS ANGELES — The Philadelphia 76ers seized control in a 51-point third quarter, set a team record for points in a quarter and a playoff game, and evened their first-round series at one game apiece with a 145-123 victory over the visiting Brooklyn Nets on Monday night.

Game 3 is Thursday in New York.

Joel Embiid collected 23 points and 10 rebounds to lead Philadelphia. For the second straight time, Embiid was a game-time decision due to the lingering tendinitis in his left knee, but he played in both contests.

Embiid totaled 13 and five rebounds in the third quarter Monday as Philadelphia shot 72 percent and outscored Brooklyn 51-23.

Embiid’s dominance occurred after he was called for a flagrant-one foul on Jarrett Allen with 35.6 seconds left in the first half.

Philadelphia also matched the 1962 Los Angeles Lakers for the most points scored in a quarter in a playoff game. It was the 13th time a team scored at least 145 points in a playoff game and first instance in a regulation game since the Boston Celtics put up 157 points in 1990 against the New York Knicks.

Ben Simmons contributed his second career postseason triple-double with 18 points, 12 assists and 10 rebounds. He joined Wilt Chamberlain and Charles Barkley as the only Sixers to get multiple triple-doubles in playoff action, and he exited a standing ovation from fans after criticizing their booing following Game 1.

Tobias Harris added 19 points, JJ Redick contributed 17, reserve center Boban Marjanovic chipped in 16 and Mike Scott had 15 for Philadelphia, which shot 56.1 percent from the floor.

Spencer Dinwiddie scored 19 and D’Angelo Russell added 16 for the Nets, who set a team record for points allowed in a postseason game. Rondae Hollis-Jefferson added 15 while Caris LeVert and Shabazz Napier had 13 apiece.

After starting slowly, Embiid fueled a 21-2 blitz to start the third to turn a 65-64 halftime lead to an 86-66 edge. He started it with a 10-foot jumper, converted a three-point play, hit a short fadeaway along the baseline and hit two free throws.

WARRIORS LOSE 31-POINT LEAD, COUSINS AS CLIPPERS RALLY
Landry Shamet buried a go-ahead 3-pointer with 16.5 seconds remaining, capping a historic rally from a 31-point deficit Monday night and delivering the Los Angeles Clippers a shocking, 135-131 victory over the Golden State Warriors in Game 2 of their Western Conference first-round playoff series in Oakland, Calif.

With the series tied at 1-1, the best-of-7 heads south to Los Angeles for Game 3 on Thursday night, with Game 4 also set for the Staples Center on Sunday.

The come-from-behind win was the largest since the NBA began documenting such things in 2000.

In addition to the first defeat in their past eight playoff games, the Warriors lost center DeMarcus Cousins to a potentially serious left quad injury in the first quarter.

Cousins, who was playing in just the second playoff game of his career, was scheduled for an MRI exam on Tuesday.

Riding a late flurry by Stephen Curry in the second quarter and 9-for-9 shooting to open the third period, Golden State ran up a 94-63 lead and appeared well on its way to going up 2-0 after a 121-104 win in the series opener on Saturday.

However, the Clippers rallied behind Lou Williams, first using a franchise-record 44 points in the third quarter to get within 108-94, then with relentless offensive pressure to put themselves in a position to win in the final seconds.

Williams finished with a game-high 36 points, including a clutch jumper over Klay Thompson with 46 seconds remaining after Curry had put Golden State up 131-128 on a 3-pointer 12.1 seconds earlier.

After Klay Thompson misfired on a 3-point attempt at the other end, Shamet converted a Shai Gilgeous-Alexander assist into what turned out to be the game-winning hoop.

Down by two, the Warriors went for the win, but Curry couldn’t connect on a 3-point try, after which Montrezl Harrell calmly dropped in two free throws for the final margin of victory.

Williams’ point total came on 13-for-22 shooting and 8-for-10 from the free-throw line, the latter helping the Clippers cut into a 40-25 Warriors advantage in points from the line in the tightly officiated game.

Harrell backed Williams with 25 points to complement a game-high 10 rebounds for the Clippers, who shot 56.5% from the field.

Danilo Gallinari (24 points), JaMychal Green (13), Shamet (12) and Beverley (10) also scored in double figures for the Clippers.

Curry had 29 points for the Warriors, including 11 in the final 2:43 of the first half, during which Golden State extended a 13-point lead to 73-50 by halftime.

Durant finished with 21 points, Kevon Looney 19, Thompson 17, Draymond Green 14 and Quinn Cook 11 for the Warriors, who had won 20 of their previous 21 playoff games at home.

The Warriors lost despite shooting 53.3% from the field. — Reuters

Kaya, PSM reengage for AFC Cup Group H leadership

KAYA FC-ILOILO meets up anew with PSM Makassar of Indonesia today in AFC Cup Group H action at the Panaad Park and Football Stadium in Bacolod City with an eye on group leadership.

Both sporting identical one-win and two-draw records with five points, good for joint first place in their grouping, Kaya and PSM look to get the better of the other in their scheduled 3 p.m. match to gain solo top spot and propel their push in the ongoing tournament.

The two clubs met last April 2 in Bogor where Kaya came from behind to force a 1-1 stalemate and get a point each. More importantly, the Iloilo club stayed in step at the top of Group H with the result.

In their first encounter, it was a tight match all the way to the 56th minute when PSM Makassar broke the goalless tie with Eero Markkanen’s penalty.

Kaya scrambled to get the point back and had several opportunities but just could not complete them.

In the three-minute injury time, Kaya continued to work to be able to salvage at least a draw. Its efforts were rewarded when Jovin Bedic’s free kick found Marwin Angeles all alone inside the box.

With only the keeper to beat, the midfielder chested the ball and calmly slotted it into the net to secure a dramatic draw.

Kaya’s no-letup predisposition did not go unnoticed by its coach, who praised his players’ “big heart” amid the adversity it faced.

“It was a really tough game. PSM were really dangerous whenever they received the ball in front of our defensive line. It wasn’t our best performance, but it was our big heart that allowed us to get that late goal. All in all we deserved to get that point. And with that away goal, it gives us a boost ahead of our game in Bacolod. I’m proud of my boys,” said Iloilo head coach Noel Marcaida after their win.

Adding, “It was a collective effort. My 11 players really worked hard, from the goalkeeper to the striker. My players really had that fighting mentality. We nullified their obvious physical advantage, especially in set pieces. This point gives us a lot of confidence heading into our home game.”

As per tournament format, the top teams in each of the groupings earn an automatic spot in the Zonal semifinals of the tournament. — Michael Angelo S. Murillo

PLDT, Smart Communications power GameCon 2019

TELECOMMUNICATIONS leader PLDT and wireless unit Smart Communications support anew the local gaming and tech communities at this year’s GameCon gaming and entertainment convention.

The convention highlighted exhibits and competitions on various kinds of gaming, from mobile, PC, and video games to esports, virtual reality, robotics, cosplay, arcade, and tabletop, among other activities. The event also featured a workshop for aspiring game developers.

PLDT Home Fibr and Smart Developer Network empowered over 5,000 attendees by providing strong connectivity during the two-day event, which happened at SMX Convention Center, Mall of Asia Complex, Pasay City, on April 6-7.

“We are now on our third year with GameCon, and this event gets bigger every year. PLDT and Smart continue to support this activity because it is in line with our commitment to help nurture and expand the community of aspiring local gamers and tech developers,” said Smart DevNet senior developer evangelist Paul Pajo.

“Our goal is to be a platform where different gaming communities come together to share their passion. The local game development industry is continuously growing, and it needs support from all sectors,” said GameCon cofounder Elaine Cedillo. “At the same time, we want to be a venue where families of all ages can come together and experience different types of play,” she added.

As the country’s leading digital services providers, PLDT and Smart are staunch supporters of the Philippines’ fast-growing and highly competitive esports programs.

Filipinos are assured of the best gaming experience with PLDT and Smart’s fastest fixed and mobile networks, as recognized by the Ookla, the global leader in internet testing and analysis, and mobile industry analysts Tutela and OpenSignal.

The companies also recently launched their official professional esports team Omega, which will represent PLDT-Smart in The Nationals, the country’s first-franchise based esports league featuring DOTA 2 for PC, Mobile Legends: Bang Bang for mobile, and Tekken 7 for PS4.

Smart DevNet is Smart’s developer community program targeted at desktop and mobile developers. It promotes general awareness of mobile apps development and technopreneurship while striving to foster a vibrant developer community in the Philippines by organizing and sponsoring tech events and meetups.

Those who attended the 2-day GameCon event were able to get limited edition Mobile Legends shirts and jackets by purchasing a Smart Prepaid SIM with at least P499 load.

Interested parties may get the latest esports updates on the official Facebook pages of PLDT Home and Smart Communications, and their official Twitter and Instagram accounts (@PLDTHome and @LiveSmart).

Fil-Aussie Xantheia Pennisi still finding her feet in cliff diving

EL NIDO, PALAWAN — Still learning the ropes of cliff diving, Filipino-Australian diver Xantheia Pennisi said she is enjoying the process every step of the way and is looking forward to eventually joining the roster of the top athletes in the sport in the world.

Part of the 24 athletes who saw action in the first leg of the Red Bull Cliff Diving World Series on April 13 at the Small and Big Lagoon in Miniloc Island here, Ms. Pennisi, 20, shared that her journey from platform diving to cliff diving has been a fun ride so far but nonetheless challenging.

“It has been fun learning it (cliff diving), but it requires a lot of practice,” said the Fil-Aussie diver, who traces her Filipino roots to Tarlac, where her mother hails from.

“It was challenging at the start because I was so frustrated why I could not get it right away. But I’m quite lucky to have my coaches and Rhiannan to guide me, telling me to take it slow and not rush things since I’m only 20 and have a lot of years ahead of me. But in terms of my body it is not so hard transitioning from diving to cliff diving. It’s more on the mind, needing to trust your body and the process,” she added, referring to reigning Red Bull world series women’s champion Rhiannan Iffland of Australia.

Ms. Pennisi said Ms. Iffland has been a big help to her since deciding to take up the sport two years ago.

“Probably if I did not meet her I won’t be here in the sport. I have been very blessed as she has guided me and taught me what she knows. She has been a great support for me,” said Ms. Pennisi, who entered this year’s competition as a wild card but hopes to become a permanent diver beginning next year.

Ms. Pennisi went on to say that she was very happy to have the Red Bull world series to be held in the Philippines for the first time so as to expose more Filipinos to the sport and, maybe, inspire them to pick up cliff diving.

“I hope when people see this they will be inspired to try cliff diving. It is such a beautiful sport,” she said.

In the first leg of Red Bull Cliff Diving World Series, Ms. Pennisi wound up outside of the podium at seventh place with 209.30 points, but she is undeterred by it and instead has become more determined to build on her game and have fun in the process.

“I did not have my best diving today. But I’m still finding my feet in cliff diving and I’m having fun,” she said.

Winning the first leg of the series in the women’s division was Ms. Iffland with 329.25 points, followed by Yana Nestsiarava of Belarus at 319.35 points and Lysanne Richard of Canada at 309.70 points.

Next for the Red Bull world series is Dublin, Ireland, on May 12. — Michael Angelo S. Murillo

Tiger Woods’ victory in Masters a win for golf business

ATLANTA — Tiger Woods’ victory at the Masters golf tournament on Sunday, his first major victory since 2008, is expected to lift sales for sponsors, broadcasters and golf courses lucky enough to host a tournament with Woods playing.

The competition put the 43-year-old back on top of a sport he helped transform 25 years ago.

“Tiger sells golf,” says Eric Smallwood, president of Apex Marketing Group, Inc., a Michigan analytics firm. Apex found that Nike earned $22.5 million worth of brand exposure just from Woods’ final round, with Nike’s “Swoosh” logo splashed on his hat, shirt, pants and shoes. Nike stock was up about one percent on Monday.

Tournament broadcaster CBS Corp. saw a ratings bump. Based on preliminary data, the final round of Sunday’s tournament was the highest-rated morning golf broadcast since 1986, when CBS started collecting that data. The tournament, which is usually broadcast in the afternoon, was rescheduled to the morning because of weather.

CBS has the rights to the PGA Championship in May and expects prices for advertising time that is still available to rise as a result of Woods’ Masters victory, according to a source familiar with the matter.

The golf demographic is wealthier and better-educated than other sports fans, so TV ratings are valued more highly because they’re more apt to turn into sales, even of big-ticket items, said Neal Pilson, president of Pilson Communications and former president of CBS Sports.

“Historically, events where Tiger Woods is on leaderboards on Sunday generated 30% to 40% higher ratings in the United States for those tournaments,” Pilson said.

MAKINGS OF A COMEBACK
Woods was a 20-year-old prodigy when he turned pro in 1996. Less than a year later he was ranked No. 1 in the world. He struck lucrative endorsement deals — including a five-year, $40 million deal with Nike — and golf experienced a surge in popularity.

Then Woods’ personal life collapsed and with it, his brand. In 2009, after the news of multiple infidelities, he lost endorsement deals with companies like AT&T Inc and Accenture Plc. Other sponsors, such as Procter & Gamble Co.’s Gillette and Berkshire Hathaway, Inc.’s NetJets, kept their contracts with Woods but stopped using him in marketing.

Four back surgeries later, Woods continued to suffer professionally and in the public eye. In 2017 police arrested him for driving under the influence; he pleaded guilty to reckless driving and entered a program for first-time offenders.

In 2018 Woods began a professional comeback that culminated at Sunday’s Masters. After his victory, Nike, which stood behind Woods throughout his darker years, posted an ad on its website titled “Tiger Woods: Same Dream.”

“In sports you have heroes, villains and underdogs,” said Benjamin Hordell, founder of digital marketing and advertising firm DXagency. “Tiger has lived all of it. That’s amazing from a storytelling perspective. People will root against him, but they’re watching.” — Reuters

Legends both

The regular season of the National Basketball Association ended last week and while excitement ensued after in anticipation to what is shaping up to be an eventful postseason, some sadness were felt as well as two legends of the game decided to ride into the sunset.

All-Stars Dwyane Wade of the Miami Heat and Dirk Nowitzki of the Dallas Mavericks had call it a career at the conclusion of the regular wars of the 2018-19 edition of the NBA.

No playoff appearances for the two on their final year as their respective teams failed to land in the top eight in their divisions but there was no denying them of fitting tributes in the end as they called it a career.

Drafted fifth overall in the 2003 draft, Wade did not instantly catch my attention as a player. He was solid off the starting block but with fellow rookies LeBron James and Carmelo Anthony also doing well in Cleveland and Denver, respectively, then, my attention veered their way than to that of “Flash.”

Come playoffs though in 2004, Wade impressed me. In particular in Game One of their opening playoff series with the New Orleans Hornets.

Playing in just his first postseason game, the young Wade took over for the Heat, who at that time had guys like Eddie Jones, Lamar Odom, Caron Butler and Brian Grant in its fold.

Wade would hit the game-winner with 1.3 second left over Baron Davis and Jamaal Magloire to give the Heat the victory. He would continue to figure prominently for the rest of the series as they eliminated the Hornets and moved to the next round.

From there, I became a silent admirer of the game of Wade, who I believe is up there among the great two guards in NBA history.

He went on to become a first-time NBA champion in 2006 in their “15-Strong” run to the title over Dallas where Wade was named finals most valuable player.

Wade was a steady presence in the US Olympic Team and added two more NBA titles on his mantle during the Heat’s “Big Three” era with James and Chris Bosh.

He established himself as one of the best all-around guards who played in The Association who many players right now in the league admittedly patterned their game after.

Just like Wade, German Nowitzki did not catch my fancy right away.

I was even surprised that Dallas traded for him on draft night in 1998 in exchange for its original pick at sixth, Robert Traylor, for number nine Nowitzki.

Traylor was solid entering the draft playing for the Michigan Wolverines, and I was perplexed by the move.

Eventually Nowitzki proved the Mavericks right in making the move, as together with Steve Nash and Michael Finley they made Dallas a steady force out in the West in the early 2000s.

When Nash and Finley departed for other teams, “Dirty” stepped on the plate as sole leader and flourished in it.

He became an offensive juggernaut, anchored on his now legendary one-legged fadeaway jumper, en route to becoming one of the leading scorers in NBA history when everything was said and done.

Championship success did not come for him until 2011 when the Mavericks beat the Heat in the NBA finals, but in the years leading to it Nowitzki was a picture of resilience and determination, making him one of the best who ever played the game.

I still believe that Hakeem Olajuwon is still the best foreign player to play in the NBA but Nowitzki could get some consideration for that. Regardless, he is on the Mount Rushmore of best foreign players in my book.

The great Larry Bird said in his tribute to Nowitzki at the latter’s final home game in Dallas that he always tells young players coming into the NBA that “you should leave the game better when you found it.”

Well, Wade and Nowitzki certainly did that and the NBA-dom is fortunate to have been a witness to their talent and what they had become.

Flash and Dirty, thanks for sharing your basketball talent and for all the memories. Enjoy the rest of your lives. First-ballot Hall-of-Famers both.

 

Michael Angelo S. Murillo has been a columnist since 2003. He is a BusinessWorld senior reporter covering the Sports beat.

msmurillo@bworldonline.com

Kings coach

Luke Walton spent exactly one day to find a new job. He was fired — couched in “mutually agreed to part ways” terms — by the Lakers on Friday following an unprecedented sixth straight season out of the playoffs. He sat for a meeting with fellow purple-and-gold alumnus Vlade Divac on Saturday to discuss terms of his hiring as the Kings’ new head coach. After resting on the Sabbath, they then formally announced their partnership, signaling a new era for the franchise that still has to find its competitive footing since erstwhile Warriors co-owner Vivek Ranadivé took the reins in 2013.

To be sure, there is no small measure of irony in Walton’s portrayal as the Kings’ answer to their National Basketball Association-worst 13-year postseason drought. After all, he experienced famine with the Lakers, who painted him the same way when he was tapped for the hot seat in 2016. At the time, he had been fresh off a campaign in which he steered the Warriors to a 39-4 slate while filling in for head coach Steve Kerr, sidelined due to complications from back surgery. And considering the seemingly overactive manner in which the front office handles roster formation, there can be no downplaying the possibility of disappointment.

That said, the relationship Walton has with Divac, dating back to their time as Lakers teammates a decade and a half ago, should help the Kings form a vision that ensures complete collective buy-in. It certainly contributed to the general manager’s desire to sign him to a contract quickly, as well as to the length of the deal. Along with his suitor, he’s signed on for the next four years. In other words, he has carte blanche to frame the system as he sees fit — even with the understanding that immediate results are expected after significant strides made under predecessor Dave Joerger.

From all indications, Walton figures to do well with the Kings. He possesses the right temperament and style for their promising talents. And under his watch, they’re seen to improve on their inherent strengths, what with the likes of Buddy Hield and De’Aaron Fox meshing with his pace-and-space predilections. The question, of course, is whether the projected development will come fast enough for top management. Patience hasn’t been one of Ranadivé’s virtues, and Divac naturally wants to start off well as a GM with complete authority on basketball matters. How it is answered will determine the prevailing perception of his progress.

 

Anthony L. Cuaycong has been writing Courtside since BusinessWorld introduced a Sports section in 1994.

Duterte vetoes P95-billion items as he signs 2019 budget into law

By Charmaine A. Tadalan
Reporter

PRESIDENT Rodrigo R. Duterte on Monday finally signed the four-month delayed P3.757-trillion 2019 national budget into law, but vetoed about P95.3 billion in appropriations.

The budget goes into the books as Republic Act No. 11260, or the General Appropriations Act of 2019, Senate President Vicente C. Sotto III said in a mobile phone message to reporters. “RA No 11260 Budget Act for 2019 into law. Vetoed 95.3 B,” he said in his text message.

Asked for confirmation, Executive Secretary Salvador C. Medialdea replied in a separate text message: “yes”, adding that “[t]he President, among others, vetoed P95.3 billion items of appropriations in the details of DPWH programs/projects, which are not within the programmed priorities.”

The President last week threatened to veto the entire 2019 budget, should Malacañang’s review unearth irregular fund realignments.

In a statement sent late Monday night, House Majority Leader Fredenil H. Castro of the 2nd district of Capiz said: “We welcome the President’s signing of the 2019 budget.”

“We respect his decision to veto some items in the budget. We will abide with the President’s decision and respect the thorough study made by his team after all factors were considered.”

The budget, ratified on Feb. 8 by both chambers of Congress, was transmitted to the Office of the President just on March 26 by the Senate with a letter on the Senate President’s reservations over some P95 billion in funds the House of Representatives allegedly realigned after the spending plan was ratified.

Of this amount, P75 billion was realigned to fund programs and projects under the Local Infrastructure Program of the Department of Public Works and Highways (DPWH).

Finance Secretary Carlos G. Dominguez III had warned in January that the delay in budget enactment would prevent the government from spending on P46 billion worth of priority projects in the first quarter, and in the middle of March said the state would be hard-put to catch up on its disbursement program for the year. Presidential Spokesperson Salvador S. Panelo said on Friday that economic managers have prepared a contingency plan to catch up on spending.

The delay in the budget enactment had prompted the interagency Development Budget Coordination Committee — headed by state economic managers — on March 13 to slash its target for 2019 gross domestic product (GDP) expansion to 6-7% from 7-8%, while the National Economic and Development Authority projected separately that the full-year GDP growth could clock in at 6.1-6.3% from 6.2% last year if the reenacted 2018 budget were to remain in force until April.

Remittance growth slowest in six months

By Reicelene Joy N. Ignacio
Reporter

MONEY SENT HOME through banks by Overseas Filipino Workers (OFWs) — which fuels household spending that, in turn, contributes nearly 70% to gross domestic product — grew in February, according to data the central bank released on Monday, but at the slowest pace in six months due to what one analyst said was muted business confidence in the face of global uncertainties.

Data from the Bangko Sentral ng Pilipinas (BSP) showed cash remittances from OFWs grew by mere 1.5% to $2.301 billion in February from the $2.267 billion a year ago, marking the smallest increment since August 2018’s 0.9% dip. February growth was also slower than the year-ago 4.5% increase.

That brought year-to-date cash inflows to $4.784 billion, three percent more than the $4.647 billion recorded in 2018’s first two months that recorded a bigger 7.1% increase.

“This growth was supported by the increase in remittances from both land-based ($3.73 billion) and sea-based ($1.06 billion) workers, which rose by one percent and 10.5%, respectively,” the BSP explained in a statement.

Personal remittances — which include transfers in kind — similarly edged up by a six-month-low 1.2% to $2.557 billion in February from $2.528 billion a year ago, fueling a 2.3% rise in year-to-date inflows to $5.302 billion from $5.182 billion.

The United States was the biggest source of overall remittances in the first two months, accounting for 35.5%, followed by Saudi Arabia, Singapore, United Kingdom, United Arab Emirates, Japan, Canada, Qatar, Hong Kong and Germany, the central bank reported. “The combined remittances from these countries accounted for 77.3% of total cash remittances for January to February 2019,” the central bank said in its statement.

FACTORS
“The relative slow growth in OFW remittances in February 2019 may fundamentally have been largely bought about by the slower global economic growth outlook amid the lingering US-China trade war and uncertainties related to Brexit that also slowed down the economies of the United Kingdom, European Union and their major trading partners around the world,” Michael L. Ricafort, economist at Rizal Commercial Banking Corp., said in a mobile phone message when asked for comment on the latest remittance data.

“These external developments slowed down global trade as well as lowered manufacturing and services activities in the world’s biggest economies, thereby could have resulted in lower demand for OFWs.”

Sought separately for comment, Ruben Carlo O. Asuncion, chief economist of the Union Bank of the Philippines, Inc., said that February’s increase could be attributed to upcoming student graduation. “… [T]his is before graduation month for the country. This increase may have been due to consumption reasons, probably, celebrations and reunions,” Mr. Asuncion said.

At the same time, he said that February’s growth was slower than the 3.6% increase expected by the UnionBank Economic Research Unit.

For Nicholas Antonio T. Mapa, senior economist of ING Bank NV-Manila, “overseas Filipino remittance flows continue to chug along at a healthy pace…”

“The steady stream of dollars help fund peso purchasing power, almost assuring that household consumption continues, while also augmenting the sustained struggles of the export sector,” Mr. Mapa said.

Cash remittances increased by 3.1% — marking the slowest annual increase on record — to $28.943 billion last year from 2017’s $28.06 billion, a little past the central bank’s three-percent growth projection for 2018.

The central bank projects these inflows to sustain three percent growth this year.

Overseas Filipinos’ cash remittances (February 2019)

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