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Treasury bill rates likely to drop

YIELDS ON Treasury bills (T-bill) on offer today will likely decline following the release of the government’s borrowing schedule for this month.

The Bureau of the Treasury (BTr) is offering P15 billion worth of T-bills on Monday, broken down into P4 billion and P5 billion in three- and six-month papers, respectively, and P6 billion in one-year debt papers.

A trader interviewed on Friday said yields on the T-bills on the auction block today will likely decline by five basis points across all tenors from the previous offer.

Last week, the Treasury made a partial award of the T-bills it offered, accepting only P17.455 billion out of the P20 billion programmed.

Rate of the 91-day securities barely moved to 5.787%, while the 182- and 364-day IOUs slid to 5.927% and 6.044%, respectively.

At the secondary market on Friday, three-month, six-month and one-year rates stood at 5.799%, 5.94% and 6.097%, respectively.

The trader said rates this week will likely decline due to the new borrowing schedule of the BTr for the April-June period.

“Supply and demand… Kung babawasan yung (If they will reduce the) supply, we can expect stronger demand from investors. Yields will be a bit lower,” she said.

The government plans to borrow P315 billion from the domestic market this quarter, broken down into P195 billion in T-bills and P120 billion through Treasury bonds.

In the new borrowing schedule, the weekly auction volume for the T-bills was reduced to P15 billion from the P20 billion in the previous quarter.

“We’ll see the yield curve correct a bit because for the second quarter… The auctions are skewed towards the long-end,” the trader added.

Meanwhile, another trader said rates of the T-bills on offer today will decline by up to 20 basis points across the board due to the lower supply.

“No other news except for CPI (consumer price index) which is expected to be lower,” the trader said.

Analysts in a BusinessWorld poll said inflation maintained its descent in March, yielding a median estimate of 3.5%, as rice and food prices dropped further.

Inflation data for the month of March will be released on Friday, April 5.

The government plans to borrow P1.189 trillion this year from local and foreign sources to fund its budget deficit, which is expected to widen to as much as 3.2% of the country’s gross domestic product. — Karl Angelo N. Vidal

BAR hoping to promote more cattle insemination

THE Bureau of Agricultural Research (BAR) said it hopes to expand the use of artificial insemination in cattle to increase herd sizes at lower cost.

In an interview on March 25, Glacelle Alyne C. Malinao, BAR Coordinator for Livestock, said that compared with normal mating, a single bull’s ejaculation can be used on 20 cows via artificial insemination. The process allows farmers to skip the process of raising stud bulls..

The study was conducted by the Isabela State University (ISU).

According to Ms. Malinao, the method is not widely accepted by Philippine farmers due to its 40% to 45% success rate. She said researchers hope to improve this rate using improved methods.

“Researchers are looking for ways to improve the chance of fertilizing the cattle,” Ms. Malinao said.

Bernalin P. Cadayong, Senior Economic Development Specialist with the BAR Technology Commercialization Division, said semen can be collected from a bull once a day.

Ms. Cadayong said artificial insemination is available to farmers via local government units (LGUs), with technicians on call to provide the service to cows.

Ms. Malinao said that BAR is also looking for cooperatives that can conduct the processing of semen for artificial insemination. — Reicelene Joy N. Ignacio

Aranar, Nualla lead SEA Games qualified athletes for DanceSports

SEAN Micha Aranar and Ana Leonila Nualla led all the qualified dance athletes for the 30th Southeast Asian Games late this year after topping their respective disciplines in the 2019 DanceSports Council of the Philippines Inc.’s (DSCPI) 1st quarter ranking and selection recently at the Valle Verde Country Club, Pasig City.

Aranar and Leonila, the champion in the standard discipline event, will join first runner-up Mark Jayson Gayon and Mary Joy Renigen as the other qualified pair for the SEA Games in the standard discipline event.

For the Latin discipline event SEA Games qualifiers, Michael Angelo Marquez and Stephanie Sabalo topped the category while Wilbert Aunzo and Pearl Marie Cañeda settled for first runner-up but qualified too.

The DanceSports competition will be held in Clark, Pampanga.

DSCPI President Becky Garcia also announced that Yer Lord Ilyum Gabriel will be representing the country as well in the Bboy Breaking event and Alyanna Talam was chosen for the BGirl Breaking competition.

AirAsia Philippines to fly to Osaka in July as more Filipinos travel to Japan

AIRASIA PHILIPPINES is finally launching its first direct flight from the Philippines to Japan in July, as it aims to tap the growing market for Filipino travelers visiting the East Asian country.

The budget carrier said in a statement it will start offering daily services from Manila to Osaka on July 1.

“Being able to travel directly and affordably to Osaka is fantastic news for Filipinos and we’re confident this new route will serve as a gateway for guests to connect to other popular destinations in Japan such as Kyoto and Nara,” AirAsia Philippines President and Chief Executive Officer Dexter M. Comendador said in the statement.

The flight will depart Ninoy Aquino International Airport (NAIA) at 8:30 a.m. every day and arrive at 1:15 p.m. at the Kansai International Airport. The return flight will leave Osaka at 1:50 p.m. every day and land at NAIA at 4:55 p.m.

“This international route will contribute to the government’s target of 8.2 million visitors this year,” Mr. Comendador added.

AirAsia has long been planning to launch a direct flight to Japan as it started to become a popular tourist destination for Filipinos. Airport slot allocation became its problem, but Mr. Comendador said in late 2017 they have earned entitlements for Osaka already and initially planned to launch the flights by second half of 2018.

“The launch of direct flights between the Philippines and Japan is a milestone occasion, and we’re excited to connect our capital, Manila with Osaka,” the AirAsia Philippines chief executive said.

Based on data from the Department of Tourism, Japan is the fourth biggest market of tourists to the Philippines, growing 7.3% to 485,121 Japanese travelers in the country from January to September 2018.

Aside from Osaka, AirAsia also offers flights from Manila to Kuala Lumpur, Kota Kinabalu, Bangkok, Bali, Seoul, Taipei, Kaohsiung, Shanghai, Guangzhou, Shenzhen, Hong Kong, Macau and Ho Chi Minh City. — Denise A. Valdez

Tahum Pop Up Festival: Things and stories of beauty

By Emme Rose S. Santiagudo
Correspondent

ILOILO CITY — Creators of some of the best Philippine products — local crafts, home and lifestyle items, food, jewelry and fashion products — converged in Iloilo City late February for the first Tahum Pop Up Festival.

The event, participated in by almost 60 exhibitors from around the country, reinforced a growing “local revolution” or a love for locally made goods.

The appreciation for what we can call our own was deepened by the inspiring tales from the exhibitors, the stories behind their things of tahum, the Hiligaynon word for beauty or beautiful.

HELPING MANANAHIS
Vincent Ascalon, owner of the Manila-based Custorero Studio, takes pride in his laid back and comfortable pieces which he said are perfect for career men and women who are always on the go.

But more than that, Mr. Ascalon said he is proud how he has been able to help local dressmakers.

“I help the small-time mananahis (tailors and seamstresses) in Manila because they usually just alter or fix clothes. Through my business, I was able to give them a livelihood. It’s also one way for them to develop their creativity and become hard working because I am here to help them,” he said.

Maco Custodio of Maco Manila, which makes art pieces and fashion products using recylable materials such as foil and plastic, said three communities are involved in his venture.

“We incorporate three communities, first is Rizal for the weaving in Antipolo. In Baseco, Manila, that is where we get some of the materials, and Marikina for the shoes,” he said.

Mr. Custodio said he wants budding fashion designers to be inspired by his art as well as his business model. “Right now, in the time where everyone copies what they see, I think it is a good time that they can also copy the entire thing of helping a community,” he said.

Kikulo from Bacolod, a brand of handwoven bags made from pandan (screwpine) leaves and wood, was set up as a livelihood project for farmers’ wives in Victorias, Negros Occidental.

It’s sister brand, Tickled Tripple, is also helping the Gawad Kalinga community in Negros through the production of totes, canvas bags, and macramé bags.

“It’s really to help out, to give an opportunity to the less fortunate people to help them earn money. They cannot get a job in the corporate (world), but with this kind of craft, they can easily learn a skill and they can earn like a regular employee working in office,” said Tickle Tripple owner MM Cusi. Ms. Cusi said joining Tahum is special because it is not just a bazaar that showcases Philippine products, but one that gives emphasis to the advocacies of the participants.

“Aside from the fact that we are just neighbors, we also wanted to try the market and Tahum is really the advocacy. When you see anybody who helps, because it’s also our advocacy, we also want to help them as well,” she said.

MARRYING TRADITIONAL AND MODERN
Iloilo’s homegrown fashion designer Nono Palmos, meanwhile, said his Filipineo line is all about marrying the traditional and modern.

“The name is Filipineo, like a modern Filipino, because I blend the local fabric like hablon from Visayas with modern fabrics,” he explained.

When doing shows abroad, he makes sure that the local weaving communities share the spotlight.

“For the love of weavers in the community, when I did a show in Switzerland, I promoted Filipineo including four regions, from our fabric here in Western Visayas and piña (pinable fiber fabric) in Aklan, (and the cloth of two indigenous groups, the) Gaddang in Northern Luzon and Yakan in Mindanao,” he said.

“It’s fulfilling to help the community and (combine it with your) creativity as a designer. I’m glad that many have been embracing this concept,” he said, speaking in a mix of English and Filipino.

Jewelers also shared the stories of collaboration behind their products.

Manila-based Adante Leyesa said they mainly use handmade techniques from different communities for the design of their accessories.

“Our intricate products are composed of various techniques and majority are handmade. They are fusion of communities from Luzon to Mindanao,” Mr. Leyesa said.

Iloilo’s own BJ Chavez said he believes the Ilonggo market is ready to patronize this fashion-with-a-local-heart trend.

“Ilonggos are creative and fashionable. I think it’s about time that Iloilo is introduced to this kind of thing, I know Ilonggos are ready to embrace a more forward type of fashion,” he said.

The Tahum Pop Up Festival was organized by the Assumption Iloilo Educational Foundation, Inc. (AIEF), which handles scholarships for underprivileged but deserving students.

The net proceeds of the event will go to the AIEF’s scholarship program and an indigenous community to help them further develop their craft.

AIEF said Tahum was about showcasing beautiful Filipino products, and, more importantly, the beautiful collaborations behind the creations.

Banks’ foreign currency loans increase in 2018 on higher capital requirements

FOREIGN CURRENCY LOANS granted by local banks rose as of end-2018 as foreign firms needed additional working capital and funds for big-ticket investments, latest central bank data showed.

Outstanding debts granted by banks’ foreign currency deposit units (FCDUs) ended at $16.589 billion last year, up by 7.9% from the end-2017 level of $15.374 billion. This is also higher than the $16.088 billion balance as of end-September, according to the Bangko Sentral ng Pilipinas (BSP).

“The said loan growth may be attributed to the customers’ higher working capital requirements and investment in plant or equipment, as well as banks’ more attractive financing terms, BSP Governor Benjamin E. Diokno said in a statement.

The central bank added that the higher loan portfolio came as disbursements grew faster than repayments.

FCDUs are bank units authorized by the central bank to conduct transactions involving foreign currencies, mainly by accepting deposits and handing out loans.

A fourth of the foreign debts were secured by firms in the towing, tanker, trucking and forwarding business, the BSP said. This is followed by merchandise and service exporters (18.1%); public utility firms (9.6%); and producers or manufacturers plus oil companies (4%).

Gross borrowings released totalled $64.9 billion last year, up by a tenth from 2017 given an “increase in funding requirements” for the local branch affiliate of a global bank. Meanwhile, loan payments also rose by 13%.

By tenor, 75% of outstanding foreign currency loans had medium to long-term maturities. Only a fourth came with repayment periods of below one year, which are worth $4.152 billion, data showed.

On the other hand, dollar and other foreign currency-denominated bank deposits also rose to $39.892 billion, 1.9% higher than the $39.194 billion as of December 2017 but did not match the pickup in loan disbursements. This led to a higher loan-to-deposit ratio of 41.6% from 39.2% a year ago.

This mirrors the trend for peso credit lines, where total loans grew by 13.6% to P10.076 trillion versus an 8.8% rise in bank deposits, which hit P12.764 trillion.

The Philippine banking system is seen to remain on solid footing despite a $412-million loan default left by embattled shipbuilder Hanjin Heavy Industries and Construction Philippines, who declared bankruptcy back in January.

BSP officials have said that the share of this loan to the total foreign debts granted by banks remains “negligible,” as the lenders remain liquid and armed with enough loan loss provisions. — Melissa Luz T. Lopez

Ranging from P2-4M:20 SUVs that show you’ve made it (Part 2)

By Ulysses Ang

SPORT utility vehicles or SUVs have gone a long way. From vehicles known for their utility and practicality, they’ve become symbols of success. True enough, pickup-based SUVs, like the Toyota Fortuner, Mitsubishi Montero Sport, Ford Everest, Nissan Terra, and Chevrolet Trailblazer, have become the top choice of vehicle, displacing midsize executive sedans in the process.

But what if you want to stand out from the sea of Fortuners and Monteros? What if you’re ready to plunk down several thousand grand more in your down payments and monthly amortizations? What else is out there?

In the Philippines, there are 20 or so SUVs in the 2-million- to 4-million-peso price range — and all of them have something unique to offer. Here is part two of the list in alphabetical order:

SUV 1

MAZDA CX-9
Premium design, elegance, and a fun-to-drive attitude come together in a three-row, 7-seat SUV. Boasting a sensual design, the signature curves and energy of Mazda’s KODO design language are ever present, imbuing this SUV with a quiet air of sophistication.

Furthermore, it uses the groundbreaking 2.5-liter Skyactiv-G engine with Dynamic Pressure Turbo technology reducing turbo lag and improving overall performance.

The front-wheel drive Touring variant already comes well loaded, but the new all-wheel drive Signature ups the luxury even more. Not only does it get features like a 12-speaker Bose sound system, power front seats and tailgate, it also gets a Nappa leather interior and a 360-degree camera as standard equipment.

SUV 2

MERCEDES-BENZ GLA
Characterized by its sporty design and light-footed handling, the Mercedes-Benz GLA-Class has been well-received. For 2019, it gets a stronger SUV look with the new headlights, reshaped bumpers, and varied alloy wheel designs.

Inside, the GLA-Class offers enhanced levels of craftsmanship thanks to new materials. Changes include new silver chrome trim on the storage compartment in the center console as well as on the climate nozzle rings. There are two variants of the GLA-Class.

The GLA 180 Urban has a turbocharged 1.6-liter mill with 122 horsepower and 200 Nm of torque. Meanwhile, for those who want the security of Mercedes-Benz’s 4MATIC all-wheel drive, the GLA 200 is available with the 1.6-liter turbocharged motor massaged to produce 156 horsepower and 250 Nm of torque.

SUV 3

PEUGEOT 3008
Boasting of a feline-inspired exterior, the Peugeot 3008 displays its strength and character with its wide checked grille, long hood, large wheels, and high ground clearance. It may be bigger than its predecessor, but it’s still lighter thanks to its new lightweight platform and downsized turbocharged gasoline engine.

Inside, the 3008 features Peugeot’s next-generation iCockpit. It’s the French car maker’s way of giving a modern, ergonomic, and interactive environment for driver and passengers alike. The most notable feature of the 3008 is its 12.3-inch all-digital instrument panel. It also comes with advanced connectivity with its Mirror Screen functionality. Apple CarPlay, MirrorLink, and Android Auto are all accessible through the 8-inch capacitive touchscreen.

SUV 4

SUBARU OUTBACK
Out in the market since 2015, the Subaru Outback is made safer with the inclusion of the EyeSight driver assistive system. It integrates five functions: Adaptive Cruise Control, Lane Sway & Departure Warning, Lead Vehicle Start Alert, Pre-Collision Braking System, and Pre-Collision Throttle Management making this one of the safest SUVs ever.

Marking the changes is a bolder redesign with the C-shaped headlights, wider lower grille openings and bumpers. Enhancements have also been made to the chassis including the fitment of STABLEX-Ride System dampers.

Inside, the 2018 Outback receives enhancements with new premium materials and a redesigned center console. The Outback’s 3.6-liter flat-6 produces 260 horsepower and 350 Nm of torque — more than enough for that drive to the boardroom meeting.

SUV 5

MINI COUNTRYMAN
The biggest and most versatile model in MINI’s history, the Countryman reflects considerable advancements in space, functionality, athleticism, and premium characteristics. It’s got genuine space for five adults and their luggage. The rear seats also have a neat trick, sliding fore and art to free up more room for passengers or cargo.

Outside, the all-new Countryman boasts of a powerful, yet more mature character. In the cabin, the Countryman combines the classic MINI flair with modernity and refinement. Riding on an all-new platform, the MINI Countryman is solely available with one engine: a 2.0-liter 4-cylinder turbodiesel engine, the power and torque outputs of which vary depending on the model (either 150 horsepower or 190 horsepower).

TOYOTA FJ CRUISER & LAND CRUISER PRADO
It looks nothing like any other Toyota because the FJ Cruiser is a nod to the original FJ40 Land Cruiser — a model sold in the 1980s. As such, it successfully captures nostalgia and bottles it in its round headlights, protruding front fenders, white roof, and chunky C-pillar.

Naysayers will immediately point out that the FJ Cruiser isn’t practical: it’s huge and cramped, but this SUV manages to transcend these adjectives. It’s meant to go over any obstacle with its almost 245-mm ground clearance, 34-degree approach, and 31-degree departure angle. The tractive effort for this canyon crawler is provided by a 4.0-liter V6 with 268 horsepower and 380 Nm of torque.

While sharing the same platform as the FJ Cruiser, the Land Cruiser Prado takes on a very different character. First launched in 2009 and refreshed in 2018, it gains new styling elements which are functional as they are aesthetically pleasing. Inside, the Land Cruiser Prado benefits from a revised dashboard with new designs for the instrument binnacle and center console. The engines remain unchanged and with that, the gasoline variant comes with a 4.0-liter V6 (shared with the FJ Cruiser) with 275 horsepower or a 3.0-liter 4-cylinder diesel with 163 horsepower.

SUV 8

MITSUBISHI PAJERO
The Pajero nameplate brings with it a rich heritage, from rally championships to being a symbol of luxury and power. As it proves to continuously perfect the right balance between capability and opulence, the latest model benefits from a visually tweaked exterior.

Inside, the Pajero features a 10-way power adjustable driver’s seat, 4-way power adjustable front passenger seat, and options of black or beige plush genuine leather seats. Together with the new visually relaxing interior color combination of carbon fiber, piano black and silver accents, the Pajero offers an elegant ambiance.

The upgraded 3.2-liter 4-cylinder engine now gets 192 horsepower and 441 Nm of torque along with its proven Super Select 4WD-II system as standard equipment as well as M-ASTC or the Mitsubishi Active Stability and Traction Control system.

SUV 9

NISSAN PATROL ROYALE
Nissan’s flagship SUV is reliable, unbreakable, and reasonably affordable. Synonymous with ruggedness, the Patrol Royale opted to drop the hardcore edginess with softer new surfacing for a sense of modernity and road presence.

Inside, it features generous amounts of leather, polished aluminum, and wood while also delivering more room and comfort than ever before. It gets new black leather seats (tan leather is an option), an 8-inch touchscreen infotainment screen, second-row headrest monitors, and a 13-speaker Bose sound system.

The 5.6-liter V8 gasoline engine makes this the most powerful SUV here with 400 horsepower and 560 Nm of torque. Together with this new power plant is a 7-speed automatic transmission driving all four wheels.

SUV 10

VOLVO XC40
The Volvo XC40, the Swedish company’s smallest SUV yet, aims to make the daily urban commute less stressful and more enjoyable, as drivers in the segment can now rely on the award-winning safety, connectivity and infotainment technologies known from Volvo’s acclaimed new XC60 and XC90 SUVs.

The XC40 rides on Volvo’s new Compact Modular Architecture or CMA while making it available in either gasoline (247 horsepower) or diesel (150 horsepower) flavors.

US corn, soy stocks top forecasts as flooding threatens planting plans

CHICAGO — Massive supplies of both US corn and soybeans remained in storage bins around the country ahead of spring planting, US Agriculture Department (USDA) data released on Friday showed.

USDA also said that farmers planned to boost their corn plantings by 4.1 percent but severe flooding in the US Midwest may curtail final acreage.

“Nearly all of the data were collected before the flooding began,” Lance Honig of USDA’s National Agricultural Statistics Service said on Twitter. “It will take time to determine what impact it has on final plantings.”

In its quarterly stocks report, USDA pegged domestic corn supplies as of March 1 at 8.605 billion bushels, down from 8.892 billion a year ago but still the third-biggest on record.

Analysts had expected corn stocks of 8.335 billion bushels, according to the average of estimates in a Reuters survey.

Corn prices plunged after the report was released, with the most-active Chicago Board of Trade corn futures contract dropping 4.6 percent to a four-month low. It was the biggest daily price drop for corn in percentage terms since July 2016.

In its prospective plantings report, the government said farmers planned to seed 92.792 million acres of corn and 84.617 million acres of soybeans this spring.

The plantings outlook was based on surveys of farmers conducted during the first two weeks of March.

At least 1 million acres (405,000 hectares) of US farmland were flooded after a “bomb cyclone” storm left wide swaths of nine major grain-producing states under water this month, satellite data analyzed by Gro Intelligence for Reuters showed.

The glut of supplies allowed traders to shrug off concerns about a reduction in corn acres.

“We are lugging around 8.6 billion bushels of corn, which gives us a bigger buffer than we thought,” said Don Roose, president of US Commodities.

Soybean stocks of 2.716 billion bushels were the largest on record for the time period and also were above market forecasts for 2.683 billion. Wheat stocks stood at 1.591 billion bushels, the second-biggest in 31 years.

A bitter trade fight with China, the world’s largest buyer of soybeans, hindered the US export program during the winter months, typically a period of high global demand for US supplies.

Soybeans dropped to a three-month low while wheat futures hit their lowest in two weeks. — Reuters

Barty beats Pliskova to win maiden Miami Open title

MIAMI — Ashleigh Barty defeated Karolina Pliskova 7-6(1) 6-3 on Saturday to win her maiden Miami Open title and become the first Australian woman since 2013 to reach the top 10 in the world rankings.

After dominating the first set tiebreak, Barty broke the big-serving Pliskova in a 12-minute game to open the second set.

From there on the fatigued Czech, whose semi-final win over Simona Halep finished after 1 am local time earlier on Saturday due to rain delays, put up little resistance. Barty pumped her fists when Pliskova sent a forehand long on match point to hand the 22-year-old the biggest win of her career, which includes a $1.3 million pay check.

Barty said the key to the match was extending rallies on the warm day in Southern Florida.

“It was important for me to try to make it physical,” Barty, the first Australian to win the Miami Open singles title, said in an on-court interview.

“Kaja has the ability to really hit you off the court and take it away from you so I knew I had to have my running shoes on today to try and make as many balls as possible.”

Barty fired 15 aces, with Pliskova barely making an effort to return some of them.

“I tried to make the most of it,” she said of playing an exhausted opponent.

“You don’t get these opportunities every single day and it was important for me to continue and try to do the right things and enjoy the moment as well.”

Pliskova, who will rise to world number four on Monday, praised her conqueror.

“I’ll make it quick because I’m very tired and it was a long two weeks,” the 27-year-old said. “Congrats to Ashleigh. She played incredible all week, all the matches were close and especially today I thought she came up with some good tennis.”

The win capped a memorable week for the 2011 junior Wimbledon champion, who took a break from tennis in 2014 to play professional cricket for the Brisbane Heat.

Barty, the 2018 US Open women’s doubles champion, is the first Australian women since Samantha Stosur to crack the WTA’s singles top 10. — Reuters

City of Dreams Manila drives Premium Leisure earnings higher

PREMIUM LEISURE CORP.’s (PLC) attributable profit rose by 23% in 2018, driven by higher gaming revenues from integrated resort and casino City of Dreams Manila.

In a regulatory filing, PLC said net income attributable to the parent reached P2.16 billion, higher than the P1.76 billion it reported in 2017. This followed a four percent uptick in revenues to P5.15 billion.

The listed firm’s share in City of Dreams Manila’s gaming revenues went up by 23% to P3.21 billion.

“This increase was brought by the growth in the gaming segments of City of Dreams Manila, especially driven by the strong mass market,” the company said. PLC is entitled to a share in the casino’s gaming revenues through its wholly-owned unit Premium Leisure and Amusement, Inc. (PLAI).

PLAI, along with Sy-led Belle Corp. and other consortium members of the SM Group, is a co-grantee of a provisional license from the Philippine Amusement and Gaming Corp to operate an integrated casino and resort complex in the state-run Entertainment City.

The company has since partnered with SM Investments Corp. for a cooperation agreement with Melco Resorts and Entertainment (Philippines) Corp. for the development and operation of City of Dreams Manila.

On the other hand, revenues were tempered by a 21% drop in PLC’s equipment lease rentals to P1.45 billion due to the decrease in lotto and KENO ticket sales volume. PLC leases online betting equipment to the Philippine Charity Sweepstakes Office for lotto operations in Visayas and Mindanao, through its 50.7%-owned subsidiary Pacific Online Systems Corp.

The company attributed the decline to the implementation of the Tax Reform for Acceleration and Inclusion law, “which drove the increase in ticket prices because of documentary stamp tax and at the same time lowered the prize payout due to the tax on winnings.”

PLC’s higher earnings for the year allowed it to declare a regular cash dividend of P0.05024 per share, for a total dividend payment of P1.59 billion. This was paid out to shareholders of record as of March 8 last March 22.

“PLC remains committed to look for various opportunities for growth through profitable investments that will increase the company’s shareholder value for partners and investors alike,” the company said about its plans for 2019.

Incorporated in 1993 originally as Sinophil Exploration Co. for oil and gas exploration, PLC was able to change its name and primary purpose to that of a holding firm in 1997. — Arra B. Francia

She Decides, She Votes: Woke Women

By Mechu Aquino Sarmiento

THE FUTURE may be female, but it isn’t here yet. However, since women generally outlive men — even the natokhang (summarily executed) are overwhelmingly male — the future will definitely have more feminine features. More women are realizing that all politics is not just personal but local too, and they are flexing their collective muscle. A recent manifestation was the widespread outcry over the interpretation of a Caloocan City ordinance on what constituted decent attire. The mayor himself had to declare that he was all for amending or scrapping this controversial piece of city legislation, which was deemed to discriminate against every woman’s right to wear short shorts in public. A senate bill is set to have the whole country follow Quezon City’s lead in penalizing cat-calling and wolf-whistling. Women continue to fight for every inch of safe space. Eternal vigilance is the price they must pay to keep the bastos (rude and crude) at bay.

For women who want to be more than keyboard warriors, there was “She Decides, She Votes,” a two day electoral campaign bootcamp. It was non-partisan, but in accordance with the so-called “Humankind Act,” whose purpose was “to educate Filipino voters to actively participate in the defense of democracy against would-be tyrants.” Several of the speakers were part of the Martial Law Chronicles Project (martiallawchroniclesproject.com). The volunteer, forward-looking Filipino association Catholics for Reproductive Health led by Bic-Bic Chua, was also very much at the forefront.

She Decides is actually a global political movement to advance the fundamental right of girls and women everywhere to enjoy their bodies, to make their own choices, to have access to comprehensive sexuality education and the full range of quality care that unite all parts of her sexual and reproductive life and health. The nearly two-decades long battle for the Reproductive Health Act bears witness to the state’s presence in every woman’s bedroom. It is never “just politics.”

Given the political climate of the day, the 50 or so participants were asked to momentarily refrain from posting photos and status updates on social media with details of the event until it was a done deal. Significantly, around 15% of the workshoppers were male, mostly avowedly gay or proudly transwomen. One woke young man, 14-year-old Luis, in Grade 9 at the Ramon Magsaysay High School, declared that he was there because he sincerely wished that equal opportunities for women went beyond mere lip service and tokenism. “There are still incidents, although admittedly isolated, of bullying and cat-calling even in our school,” he related. He and four 8th grade girls (the oldest was 13), all school government officers, and budding youth leaders, are too young to vote this May, but they believed it was not too early to prepare and to get organized.

Emilia, the acting president of The Campus Integrity Crusaders, as their school organization was called, had faith that children like them could work for change. Giving up one weekend to learn how to convince their voting age peers and their elders to do the same was a small price to pay. They were all game to leave their comfort zone and step into the learning zone.

SHOESTRING BUDGET
Arlene Santos of the Institute for Politics and Governance gave an overview of the elements and complexities of political campaigning on a shoestring budget. Apart from building up one’s base of tried and true family and friends, it was strategic to target the undecided who could still be swayed and the uninformed who were willing to listen. Ms. Santos matter-of-factly mentioned the importance of identifying the bag men and the money distribution centers, a nod to the late Cardinal Sin’s compassionate pronouncement that it was all right to “take the money, because you are poor; but please vote according to your conscience.”

With the elections barely a month from now, volunteers were advised not to waste time on the hard-liners. As for the band-wagon effect, the power of one person was recently proven again by the win of Vice-President Leni Robredo whose supporters literally went door-to-door. Despair and apathy are the enemies of change.

Towards the end of having a more politically mature electorate who will vote based on pressing national issues — not on personalities or celebrity — and in keeping with a noble vision and worthy values for the Philippines, there was a literal walk-through the highlights of Philippine history. A photo exhibit with explanatory notes were posted all along the hallway outside the workshop venue. After all, most of the attendees had not even been born during the Marcos Martial Law dictatorship. The millennial majority were in grade-school throughout the GMA Administration and the nadir of the “Hello, Garci” and ZTE debacles. There was much to unlearn.

A wide-eyed 12-year-old revealed she had been taught that the first EDSA People Power Revolution was to overthrow the Aquino’s for corruption. Cory and Ninoy were responsible for our country’s current economic morass. It was a shock to hear such alternative facts from someone living in the Upside-Down*. A woman who had been this child’s age during the Marcos Martial Law Dictatorship gently set her straight, and the girl sweetly thanked her.

Aimee Santos-Lyons of the Association for Women’s Rights and Development (AWID) taught the participants how to do one-on-one campaigning, which was all about kamustahan and making a connection. Simply handing out fliers and campaign materials was not enough. You have to communicate your values, ask about their problems, explain what the solutions might be, and get their commitment to genuine political change.

For those who prefer to express themselves on social media, the respected digital marketer Lawrence Gerochi Villegas spoke on creative engagement and making content social and shareable. One’s own brand was essential in effectively communicating, and in understanding the voter’s decision-making journey. For the vloggers, veteran advocacy filmmaker Elnora Ebillo gave a quick run-down on how to shoot one’s own Cine Minuto phone video.

Towards the end, there was a looking back. Susan Quimpo, who wrote of how her two brothers had both been killed by state forces during the Marcos Martial Law (Subversive Lives: A Family Memoir of the Marcos Years), unflinchingly recalled the heinous tortures, the many outrages and struggles of that period of our recent history. She observed that the corpse of her eldest brother had never been found while the dictator Ferdinand Marcos now lay in a hero’s grave. The young audience did not look at their screens, but kept their eyes on her as she spoke. But as the poet Audre Lorde wrote, their silence would not protect them. Perhaps they now understood that it is their turn to stand in the gap.

 

* Referring to Netflix’s Stranger Things.

Los Angeles Lakers shut down LeBron James for final six games

LOS ANGELES — The team announced Saturday that it will hold out James for the final six games of the regular season to rest a groin injury originally suffered on Christmas Day against the Golden State Warriors.

“After consulting with our team doctors and medical staff, we have decided to hold LeBron out of games for the remainder of the season,” president of basketball operations Magic Johnson said in a statement. “This decision will allow his groin to fully heal, and is best for the future success of both LeBron and the Lakers.”

James, who has appeared in the past eight NBA Finals with the Cleveland Cavaliers and Miami Heat, signed with Los Angeles in the offseason, hoping to lead the Lakers to their first postseason appearance since 2013.

But the first major injury of James’ career cost him 17 games and he lately had been dealing with a left knee contusion. He had been playing on a minutes restriction for most of this month after the Lakers, beset with injuries to other players, fell out of playoff contention after being 25-21 on Jan. 17.

James averaged 27.4 points, 8.5 rebounds, 8.3 assists and 35.2 minutes in 55 games.

He posted the 81st triple-double of his career last Sunday in a 111-106 win against the visiting Sacramento Kings, finishing with 29 points, 11 rebounds and 11 assists.

James, 34, will not be in the playoffs for the first time since 2005, his second season in the league with Cleveland.

The Lakers (34-42) said James will travel with the team for a two-game road trip that begins Sunday in New Orleans. — Reuters

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