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Duterte to meet with Boracay’s tourism sector, rehabilitation team

PRESIDENT RODRIGO R. Duterte will meet tourism stakeholders and the task force overseeing the rehabilitation of Boracay when he visits the island on March 12, according to the Department of Tourism (DoT). In a statement on Wednesday, DoT said the President’s trip remains part of the tourism caravan to promote domestic travel amid the coronavirus disease (COVID-19) outbreak. DoT Secretary Bernadette Romulo-Puyat said Mr. Duterte will meet with local tourism stakeholders, including representatives from airlines, hotels and resorts, and tour operators after the companies offered discounted rates to stimulate domestic travel. DoT earmarked P6 billion to help the domestic industry nationwide after tourist arrivals slumped by 42% in February amid the COVID-19 outbreak. “At least PHP 85 million will finance the training on COVID-19 orientation, preparedness, response and protocols for industry stakeholders,” the statement said. DoT data showed Philippine international tourism revenues in February dropped by 41% to P26.73 billion from P45.6 billion in the same month last year.

REHABILITATION
Mr. Duterte will also discuss with the tourism sector the action plan on sustaining the rehabilitation efforts. Boracay was closed, upon Mr. Duterte’s order, for six months in 2018 for an initial phase of redevelopment. DoT said this is the first time Mr. Duterte is visiting the island since its reopening in October 2018. Mr. Duterte in July 2019 approved a medium-term action plan to continue rehabilitating Boracay, which includes the enforcement of laws to regulate visitors, rehabilitation of ecosystems, and the improvement of roads and public health infrastructure. Malacañang also announced earlier that the President will be distributing certificates of land ownership to farmer beneficiaries during his visit. — Jenina P. Ibañez

Davao Oriental combines greening and livelihood program with falcata project

THE DAVAO Oriental provincial government recently signed a memorandum of agreement with falcata tree farmers to strengthen its program that combines reforestation with sustainable livelihood. Under the Nagkakaisang Lingkod-Bayan ng Davao Oriental Forest Landscape Restoration for Sustainable Development (NLD-FLRSD), farmers in six villages in Mati City and the towns of Lupon and San Isidro will get falcata seedlings as well as financial and technical assistance. The NLD-FLRSD, initiated in 2018, is “the provincial approach to ensure inclusive and sustainable development of the province’s forest resources and of the local communities in harmony with the national greening program and with global forest targets anchored on the united nation’s sustainable development goals.” Governor Nelson L. Dayanghirang, speaking to the farmers during the March 4 agreement signing, said, “It is not the job of the Department of Environment and Natural Resources alone to preserve nature. Protecting the nature is our shared responsibility.” Falcata is a fast-growing tree that is known to have nitrogen-fixing qualities that help improve soil condition. Mature trees can be used as lumber. “The government has supported this program but it is in your hands to make it prosper,” Mr. Dayanghirang said. — Carmelito Q. Francisco

Nationwide round-up

House committee approves proposed parking regulations

congress House of Representative
PHILSTAR

A MEASURE establishing parking fee regulations and standards for parking facilities was approved Monday by the House of Representatives’ committee on trade and industry. “I am glad that this bill is one step closer to becoming a law despite some misgivings of the owners of retail and commercial establishments and independent parking operators,” Valenzuela Rep. Weslie T. Gatchalian, who chairs the committee, said in a statement on Wednesday. Under the unnumbered substitute bill, confined patients and out-patients in health service establishments may use parking facilities for free while non-patients can be charged P20 per hour. Customers of accommodation facilities, including hotels, motels, hostels, and resorts, shall not be charged parking fees provided there is proof of transaction with the establishment. Non-customers can be charged P20 per hour. Meanwhile, parking fees in educational institutions shall be waived for the first two hours for officials, employees, faculty, and students, after which P20 can be charged per hour. Non-customers can also be charged P20 per hour.

RETAIL SHOPS
In retail establishments — including malls, shops, supermarkets, and stand-alone stores — customers get free parking for the first two hours, provided there is proof of transaction for an amount not less than P500. Non-customers can be charged P10 per hour but not more than P50 per day. Commercial establishments may charge P40 for the first four hours and P20 per succeeding hour for a maximum of P140 per day. Open parking enterprises may charge P30 for the first three hours and P20 per succeeding hour, while multilevel parking enterprises may charge P40 for the first three hours and P20 per succeeding hour. Street parking, which is usually managed by the local government, can have a rate of P50 per hour while the maximum overnight parking fee shall be P150 per vehicle. Lost parking tickets may also be charged a maximum of P150 per vehicle. The bill also sets the minimum standards that must be observed by all parking establishments including the provision of CCTV cameras, security guards, the number of entrance and exit booths to prevent traffic congestion, and other safety standards. The bill is up for second reading. — Genshen L. Espedido

DoJ preliminary probes to continue amid coronavirus threat

THE DEPARTMENT of Justice (DoJ) is not cancelling just yet its scheduled preliminary probes amid the coronavirus disease threat, an official said. “No cancellation of preliminary investigations at the NPS (National Prosecution Service),” Undersecretary Markk L. Perete told reporters in a mobile-phone message. “Until such time that further restrictions imposed by health authorities require cancellation of hearings, preliminary investigation of complaints will continue,” he added. He said the department, headquartered in Manila, will comply with the protocols that the inter-agency task force on the disease will issue. President Rodrigo R. Duterte declared on March 8 a state of public health emergency. As of March 11, the Department of Health said the country has 49 confirmed cases of the disease, formally named COVID-19, mostly within Metro Manila. — Vann Marlo M. Villegas

Nation at a Glance — (03/12/20)

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 — (03/12/20)

PBA postpones PHL Cup games until further notice

By Michael Angelo S. Murillo
Senior Reporter

FOLLOWING a successful staging of its opening for Season 45 last weekend, the Philippine Basketball Association moved to postpone matches in the just-started All-Filipino tournament over concerns on the spread of the coronavirus (COVID-19).

In an announcement released on Wednesday, the PBA said it was cancelling effective, March 11, all PBA Philippine Cup games and activities until further notice.

The decision was arrived after a special meeting held on Tuesday night among league board members and officials where they discussed the tack they would be taking moving forward in light of the growing confirmed cases of COVID-19 in the country.

As of this writing, the Philippines has 33 confirmed cases of the contagious COVID-19.

Also covered by the postponement are games and activities of the PBA D-League Aspirants Cup and the inaugural staging of the PBA 3×3.

In the announcement, the PBA said safety and welfare of every league stakeholder was its prime consideration in its decision for postponement, saying, “Considering the present situation surrounding COVID-19 and the Presidential declaration of Public Health Emergency, it is our paramount duty and responsibility to ensure the health and safety of our fans, players, teams, officials and staff.”

It went on to say that it will continue assessing the situation daily, guided by the parameters set by the Department of Health and World Health Organization while reconfirming its commitment to stakeholders to hold the games and activities in a responsible manner.

With the postponement, immediately affected were scheduled matches in Day Two of the Philippine Cup yesterday, namely TNT KaTropa against the Phoenix Super LPG Fuel Masters and NLEX Road Warriors versus Northport Batang Pier.

The KaTropa were set to debut its new-look roster, boasting of recently acquired players like Poy Erram, Jayjay Alejandro, Lervyn Flores and Simon Enciso, against a rebranded Fuel Masters squad.

NLEX, for its part, is angling to start its bounce-back campaign after unceremoniously being booted out in the last conference in the playoffs despite finishing with the best record in the elimination round.

The Road Warriors were set to begin it against Christian Standhardinger and the Batang Pier, their conquerors last conference.

Also affected by the postponement was the scheduled first out-of-town game of the season in Bataan between the Barangay Ginebra San Miguel Kings and the Blackwater Elite.

In a press conference on Wednesday, PBA Commissioner Willie Marcial said the Bataan game will be rescheduled to a later date but tickets bought for Saturday will be honored on the new play date.

Forced to a draw, Kaya seeks to do better against PSM at home

By Michael Angelo S. Murillo
Senior Reporter

KAYA FC-Iloilo stayed undefeated and at the top half of Group H in the 2020 AFC Cup group play after a 1-1 draw with PSM Makassar in an away match in Jakarta, Indonesia, on Tuesday. But the Philippine club admitted that it would have been far better if it came out with a victory.

That being said, Kaya is seeking to notch a more favorable result when it reengages PSM here at home in a month’s time.

“We’re disappointed we couldn’t get the win, but it’s still a draw away from home. We’re still undefeated, and we will look to win our match against them at home,” said Kaya head coach Oliver Colina as he shared his reflection on their performance in the post-match press conference.

“We played a good game, but of course we didn’t beat them at their home. We need to go back, fix everything and try to beat them at our home,” Jovin Bedic, Kaya captain, for his part, said.

Kaya played PSM at the Gelora Bung Karno Madya Stadium in Jakarta behind closed doors over concerns on the spread of the coronavirus disease 2019 (COVID-19), which has now reached more than a hundred countries, including Indonesia and the Philippines.

Things got off to an ideal start for Kaya as PSM’s Dedy Gusmawan was sent off just 11 minutes into the contest for two quick-fire yellow cards.

But despite being a man down, the home side was the one to open the scoring.

Yakob Sayuri picked out Osas Saha with a precise through ball, which the front man took in stride and slotted past Mike Casas. The goal was the first conceded by Kaya in 2020.

Kaya took control of possession for the remainder of the opening period, but struggled to carve out openings.

That changed after the break.

Arnel Amita came on for Marwin Angeles, and Jayson Panhay came on for the injured Shirmar Felongco.

Coach Yu Hoshide also tweaked the formation to play three at the back, pushing Eric Giganto into a forward role.

The move paid off as minutes after the restart, Mr. Amita curled in a cross which Mr. Giganto headed over the keeper and into the net at the 50th minute.

In the 60th minute the Compostela Valley duo almost combined for the go ahead but Mr. Giganto couldn’t keep his shot down.

Kaya continued with its attack thereafter and nearly got a potential marginal goal with 10 minutes remaining but Mr. Bedic’s close-range header deflected wide.

PSM had one final say in regulation but Osas fired narrowly wide from just outside the six-yard box, ensuring that the match finished knotted at 1-1.

Following the draw, Kaya slid to second place in Group H with five points on a 1-2-0 record.

Tampines Rovers FC (2-1-0) of Singapore moved to the top spot with seven points, boosted by its 2-1 win over Shan United FC of Myanmar also Tuesday.

PSM (1-1-1) is third with four points while winless Shan United is in last place.

Leader on the board after group play in the AFC Cup books a spot in the zonal semifinals.

UP Fighting Maroons all set to do offseason work

By Michael Angelo S. Murillo
Senior Reporter

WHILE Season 83 of the University Athletic Association of the Philippines is still months away, the UP men’s basketball team is all set to go on gear-up mode as it begins its preparations, eyeing training abroad and joining various tournaments.

Made it to the Final Four in the last two UAAP seasons, the University of the Philippines Fighting Maroons are out to sustain the streak, beginning offseason training early so as to develop the skills and the system they need to make another solid run in the tournament.

“Offseason training is going to be the baseline of how you will do in the regular season. So, whatever it is that you do in the offseason is going to dictate what your season is going to be,” said UP coach Bo Perasol.

To aid them in their thrust, the UP men’s team is getting support from businessman JJ Atencio of STATS Performance Apparel.

Mr. Atencio has thrown his support in what Mr. Perasol and his team are trying to achieve and also underscored the importance of going in every competition prepared for a better chance of succeeding.

“Training plays a vital part in preparing the players for the season. I personally targeted to come in and sponsor training abroad to help mold the mentality of the group. This is not only for their physical development but also for their mental fortitude; and for them to realize that there is much more to achieve if they set their mind properly,” said Mr. Atencio who is also CEO and Chairman of Januarius Holdings Inc.

The Maroons are eyeing a number of training abroad, including one in Auckland, New Zealand.

“The countries we go to are usually places where basketball is big. The development there is way ahead of us, so that is where we benefit from new technologies, new advancements, new ideas, new ways to train. Besides looking for training opportunities, we also look to compete in pocket tournaments here and abroad to give us different points of view, a different experience and different kinds of play,” said Mr. Perasol.

The UP coach, however, was quick to say that all these depend on how things pan out for ongoing health concerns brought about by the spread of the coronavirus disease 2019 (COVID-19), which has already reached more than a hundred countries.

UP as well plans to take part in the Fil-Oil Pre-Season Tournament in May and defend their title in the upcoming BLIA Cup in Taiwan this July.

NBA: Dinwiddie, Nets shock Lakers

LOS ANGELES — Spencer Dinwiddie scored 23 points and hit the go-ahead basket, and Caris LeVert added 22 points as the Brooklyn Nets surprised the host Los Angeles Lakers 104-102 on Tuesday night.

Timothe Luwawu-Cabarrot had 13 points, Joe Harris finished with 12 and Chris Chiozza added 11 for the Nets, who have won four of their past five.

LeBron James had 29 points, 12 rebounds and nine assists for the Lakers, who had their four-game winning streak snapped. Anthony Davis scored 26 points and grabbed eight rebounds but missed a game-winning 3-point attempt at the buzzer.

Kyle Kuzma chipped in 14 points for Los Angeles, and Avery Bradley had 10.

Dinwiddie’s jumper with 28.8 seconds left was the difference.

The Nets led by nine midway through the fourth quarter before the Lakers rallied within three points with four minutes to go.

LeVert hit a trey, but Davis answered with a 3-pointer, and James scored on a drive to pull the Lakers within 100-99 with 1:47 remaining. After LeVert converted a pair of foul shots, Davis’ 3-pointer with 43.1 seconds left tied the score at 102.

However, Dinwiddie’s jumper put Brooklyn up for good.

James missed a layup with 9.1 seconds left, but the Lakers gained possession with 5.1 seconds left after a scramble for the ball, setting up Davis’ last-second attempt.

The Nets outscored the Lakers 31-22 in the third quarter for an 87-80 lead heading into the fourth.

A 16-4 burst by the Nets allowed them to wipe out a 10-point deficit after a bucket by Dinwiddie with 4:52 left in the second quarter for a 46-44 edge. The teams exchanged leads for the rest of the half before the Lakers grabbed a 58-56 advantage at the break after a dunk by Kuzma.

The Lakers played without Dwight Howard, who missed the contest due to a stomach illness.

Nets guard Garrett Temple missed his fourth straight game because of a left ankle sprain. — Reuters

Beating the Philidor

I am sure most of our readers have seen the famous 1858 Morphy versus Duke of Brunswick game played at an opera house in Paris. It has been called the most famous game in chess history.

Morphy, Paul — Duke of Brunswick, Count [C41]
Opera House, Paris, 02.11.1858

1.e4 e5 2.Nf3 d6 3.d4 Bg4?

A bad move. We will discuss alternatives later. Bobby Fischer mentioned here that 3…Nd7 is the right move, but even that has been proven to be weak.

4.dxe5 Bxf3

Black loses a pawn after 4…dxe5 5.Qxd8+ Kxd8 6.Nxe5

5.Qxf3 dxe5 6.Bc4

Threatening mate on f7. The move is close to winning, but GM Larry Kaufman points out that 6.Qb3! was even stronger, for after 6…b6 7.Bc4 “White has a lead in development, threats, and the bishop pair, while Black has weakened his position with …b7–b6. White should win.”

6…Nf6

Fischer tells the story that he played simultaneous exhibitions in Sarajevo and two of his opponents played 6…Qf6 “Maybe they were trying to lose the same way, as a joke or something” (Fischer). 7.Qb3 b6 8.Nc3 c6 (preventing Nd5) 9.Bg5! Qg6 (9…Qxg5 10.Bxf7+ Ke7 11.Bxg8 wins.) 10.Rd1 (I couldn’t castle: 10.0–0–0? Qxg5+) 10…Be7 (10…Nd7 11.Nb5! cxb5 12.Bxb5 Ngf6 13.Bxf6 the d7–knight is lost) 11.Bxe7 Nxe7 12.Bxf7+ Qxf7 13.Rd8+ Kxd8 14.Qxf7 both of his opponents reached this position and lost.

7.Qb3

Attacking both f7 and b7 and he is winning one of them

7…Qe7 8.Nc3!

If he had taken the b7–pawn then 8.Qxb7 Qb4+ 9.Qxb4 Bxb4+ Black will survive to the endgame.

8…c6 9.Bg5 b5 <D>

POSITION AFTER 9…B5

10.Nxb5! cxb5 11.Bxb5+ Nbd7

[11…Kd8 12.Bxf6 Qxf6 13.Qd5+ Kc7 14.Qxa8]

12.0–0–0 Rd8 13.Rxd7! Rxd7 14.Rd1 Qe6 15.Bxd7+! Nxd7 16.Qb8+! Nxb8 17.Rd8# 1–0

Ok, we now know that 1.e4 e5 2.Nf3 d6 3.d4 Bg4 is a mistake. As mentioned above, Bobby Fischer commented that 3…Nd7 is correct. The idea is to support Black’s pawn on e5 with the setup …Nd7, …Be7 and …c6, the so-called Hanham Variation (apparently there was an American chess master many years ago named James Moore Hanham). This strikes a cord with me, for my very first chess book was “The Pan Book of Chess” by Gerald Abrahams and this was the line he recommended as well.

I mentioned GM Larry Kaufman in the notes up there on move 6. He is a respected name in chess engines and openings. He worked on the opening database of Rybka, and later on collaborated with Don Dailey and Mark Lefler on the development of world computer chess champion Komodo, especially on its evaluation function. As most of our readers know, Komodo is consistently ranked near the top of most major chess engine rating lists, along with Stockfish and Houdini.

GM Kaufman wrote a very good book on the openings in 2004 entitled The Chess Advantage in Black and White. A new edition came out in 2012 entitled The Kaufman Repertoire for Black and White, and an even newer edition was entitled Kaufman’s New Repertoire for Black and White (2019). I would suggest to my readers to get a copy as it is very informative and useful for amateur players like me who want to know a little bit about most openings but do not have enough time to comprehensively study the details. We have to ensure, though, that the little bit we know is the part that we will get to use in actual tournaments, and in that the book is just the right mix of theory and practice.

But I digress. Grandmaster Larry Kaufman notes that the Hanham Variation aims to maintain Black’s pawn on e5, analogously to closed lines of the Ruy Lopez, and opines that “it would be quite popular and on a par with the major defences to 1.e4, except for the annoying detail that Black can’t actually reach the Hanham position by force.”

Let us take a look at how the late GM Vugar Gashimov, a very aggressive player, attacks the Philidor.

Gashimov, Vugar (2585) — Managadze, Nikoloz (2430) [C41]
Athens Acropolis op Athens (3), 08.03.2005

1.e4 e5 2.Nf3 d6 3.d4 Nd7

Black can try another move order with 3…Nf6 hoping for 4.Nc3 Nbd7 5.Bc4 Be7 6.0–0 (You can also try 6.Ng5 0–0 7.Bxf7+ Rxf7 8.Ne6 Qe8 9.Nxc7 Qd8 10.Nxa8 b5 11.f3 [11.Nxb5? Qa5+ 12.Nc3 Nxe4 Black has strong compensation for the sacrificed material] 11…Ba6 12.a3 Qxa8 13.Be3 Black is doing fine) 6…0–0 7.a4 c6 this is the set-up that Black wants to get in the Hanham. But are all those contortions worth it? Take a look at the next game.

After 3…Nf6 though White can play more aggressively with 4.dxe5 Nxe4 5.Qd5! The Rellstab Variation 5…Nc5 6.Bg5 Be7 7.exd6 Qxd6 8.Nc3 White is better.

4.Bc4!

[4.Nc3 Ngf6 5.Bc4 Be7 6.0–0 0–0 7.a4 gives us the Hanham, but the text move is much stronger than 4.Nc3]

4…c6

Alternatives:

4…Ngf6 5.dxe5 (5.Ng5 is also good) 5…Nxe5 6.Nxe5 dxe5 7.Bxf7+ Kxf7 8.Qxd8 Bb4+ 9.Qd2 Bxd2+ 10.Nxd2 White is clearly better;

4…Be7 loses a pawn: 5.dxe5 Nxe5 (5…dxe5? 6.Qd5 White wins) 6.Nxe5 dxe5 7.Qh5! wins at least a pawn]

5.0–0 Be7 6.dxe5 dxe5

[6…Nxe5? 7.Nxe5 dxe5 8.Qh5]

7.Ng5 Bxg5 8.Qh5 Qe7 9.Bxg5

White has an edge due to his two bishops and his better development.

9…Ngf6 10.Qh4 Nf8 11.Bxf6 gxf6 12.Qh6 Rg8 13.Nc3 Bg4 14.Qe3 Ng6 15.f3 Be6 16.Bxe6 fxe6 17.Ne2 Rd8 18.Kh1 b6 19.f4 exf4 20.Nxf4 Nxf4 21.Qxf4 Rg6 22.Rad1 c5 23.h3 Kf8 24.e5 f5 25.Qf3 Kg7 26.Rxd8 Qxd8 27.Rd1 Qh4 28.Kh2 Kh8 29.g3 Qe7 30.Rd6 Rg8 31.h4 Rc8 32.Qb3 c4 33.Qe3 Rc5 34.Qh6 Rxe5 35.Rd7! 1–0

Just one more illustrative game.

Gashimov, Vugar (2730) — Bologan, Viktor (2690) [C41]
Poikovsky Karpov 10th Poikovsky (1), 03.06.2009

1.e4 d6

Bologan goes for the Hanham through a different move order.

2.d4 Nf6 3.Nc3 e5 4.Nf3 Nbd7

If they had gone through the regular move order then white’s knight would still be at its home square of b1 and his bishop on c4 and now Ng5 would be very hard to meet for Black. In modern times, if you want to play the Philidor Defense, you have to start off with the Pirc!

5.Bc4 Be7 6.0–0 0–0 7.a4 c6

This is exactly the same position as my first comment, note B, in the game above. But even though Black has attained his desired position White still has the freer position and his pieces are active. Watch how Gashimov harnesses all his pluses.

8.Re1

A logical move here would be 8.h3 to keep off Black’s light-squared bishop from g4, but lately Black has discovered the move 8…Nxe4!? 9.Nxe4 d5 10.Re1 (10.Nxe5 Nxe5 11.dxe5 dxc4 12.Nd6 Be6 13.Nxb7 Qc7 14.Nd6 Rad8 15.Qf3 Bxd6 16.exf6 Qxd6 17Bf4 1/2-1/2 Salgado Lopez,I (2618)-Baklan,V (2614) Drancy 2016) 10…dxe4 11.Rxe4 exd4 12.Bf4 Nc5 13.Rxd4 Qe8 14.Bd6 Bxd6 15.Rxd6 Qe7 16.Ra3 Be6 17.Bxe6 Nxe6 18.Rad3 Rad8 Sevian, S. (2580)-Indjic, A. (2542) Dallas 2016 ½ 23.

8…a5 9.h3 exd4 10.Nxd4 Nc5 11.Bf4 Ne8

The idea is to play …Ne6, which if played immediately will be met by an exchange on e6 followed by e4–e5.

12.Be3!

Played so that after 12…Ne6 his bishop on f4 won’t be attacked and he can respond 13.Nf5.

12…Nxe4?! 13.Nxe4 d5 14.Ng3! dxc4 15.Ndf5

The knight’s position on f5 is untenable for Black and he has to find a way to get it out.

15…Be6

[15…Nf6 16.Bd4 Be6 17.Qf3 Re8 18.Nxg7! Qxd4 (18…Kxg7 19.Nh5+ Kf8 (19…Kg6? 20.Qg3+) 20.Bxf6 Bxf6 21.Nxf6 White is clearly winning) 19.N3f5 Bxf5 20.Nxf5 Qxb2 21.Rab1 Bd6 22.Nxd6 Rxe1+ 23.Rxe1 Black’s king is not secure]

16.Nxe7+! Qxe7 17.Ne4

Threatening Bc5.

17…Qd8 18.Bc5 Nf6 19.Bxf8 Qxf8 20.Nxf6+ gxf6 21.Qd4 Qd8 22.Qf4 f5 23.Qg3+ Kf8 24.Qe5

White’s game is completely winning.

24…Qg5 25.Re3 Qg7 26.Qd6+ Ke8 27.Rae1 1–0

Black’s woes can be traced to his intention of maintaining the strongpoint on e5. Why not just give it up and play solid? What’s wrong with 1.e4 e5 2.Nf3 d6 3.d4 exd4 4.Nxd4 Nf6 5.Nc3 Be7, the Antoshin Variation? GM Larry Kaufman in “Kaufman’s New Repertoire for Black and White,” remarks that this line is a pretty reasonable choice for Black in a must-win situation, because although White is better, both sides have play, and the chances of a draw are fairly low. He then revealed that he selected this defense for Black repeatedly and successfully for the computer program Rybka in a match were it gave draw and White odds in every game to GM Joel Benjamin.

But there is something wrong with the Antoshin. That is what we will take up on Tuesday.

 

Bobby Ang is a founding member of the National Chess Federation of the Philippines (NCFP) and its first Executive Director. A Certified Public Accountant (CPA), he taught accounting in the University of Santo Tomas (UST) for 25 years and is currently Chief Audit Executive of the Equicom Group of Companies.

bobby@cpamd.net

Major sporting events affected by virus

The novel coronavirus has affected even sports. Major organizations are now preventing members of the media from accessing locker rooms after matches, with pressers held in strict compliance of social distancing measures. Other decisions will most likely be made on an as-needed basis, but preparations for any contingency are already being done. National Basketball Association teams have been told to be open to the possibility of holding matches without any paying spectators on hand, initially thumbed down by the Lakers’ LeBron James, by far the league’s biggest draw, but later on accepted as a worst-case option in the interest of public health.

Not coincidentally, the BNP Paribas Open, deemed be even casual observers to be tennis’ unofficial fifth major tournament, flirted with the prospect of going through its schedule while keeping fans away from Indian Wells. With Coachella Valley among those affected by the onset of the virus in California and governor Gavin Newsom having already declared a state of emergency, event officials nixed the concept even though the Association of Tennis Professionals and the Women’s Tennis Association Tours signified their openness to it.

Prior to the cancellation, the BNP Paris Open has declared itself ready for a fortnight’s worth of festivities, which typically attract some half a million people all told. From the setup of hundreds of hand-sanitizing stations to the use of gloves by frontliners and service providers to the pruning down of scheduled player-public interactions, it appeared to have its bases covered. Until, that is, state authorities figured the event to be risky at best and inimical to the interests of Riverside County. Containment was key moving forward, and any congregation for any reason stood to make the work even harder.

The implications are dire, leading decision makers to balance the need for life to go on with the acceptance that sacrifices must be made. Longtime can’t-miss affairs are in danger of being overrun by circumstances, but there can be nothing more important than the preservation of life. And so fingers are being crossed for the Masters and the London Marathon to push through next month, for the Champion’s League and the French Open to be free of kinks in May, and for the NBA Finals to deliver as promised in June — but with due cognizance that they all take a back seat to the real battles against a virus that can kill.

 

Anthony L. Cuaycong has been writing Courtside since BusinessWorld introduced a Sports section in 1994. He is a consultant on strategic planning, operations and Human Resources management, corporate communications, and business development.

2019 FDI falls on global uncertainties

By Luz Wendy T. Noble
Reporter

FOREIGN direct investment (FDI) net inflows to the Philippines fell by almost a quarter last year, the central bank said on Tuesday, as global uncertainties, regulatory risks and an unclear path for a local tax reform program dampened investor sentiment.

Net inflows settled at $7.647 billion last year, 23.1% lower than a year earlier, the Bangko Sentral ng Pilipinas (BSP) said in a statement.

The central bank had originally targeted $9 billion in net inflows back in May, only to lower it to $6.8 billion later. It has an $8.8-billion goal this year.

“Notwithstanding the country’s sound macroeconomic fundamentals, global uncertainties dampened investor sentiment during the year,” it said.

FDI inflows in December alone jumped by 69% to $1.153 billion from a year earlier.

Net investments in debt instruments fell by 23.2% to $5.153 billion from the previous year.

Ruben Carlo O. Asuncion, chief economist at UnionBank of the Philippines, Inc., said positive developments in the US-China trade negotiations might have led to higher FDI inflows in December.

“The end of 2019 signaled a better outlook coming into 2020 with the almost resolution of the US-Sino trade war with the signing of the phase 1 deal in January 2020,” he said.

“Investment sentiment was better during this month, with an expectation that a visible turning point was near the corner for a global economic recovery starting with an improved general trade atmosphere,” he added.

Michael L. Ricafort, chief economist at Rizal Commercial Banking Corp., traced higher December inflows to increased government spending.

”That could have provided business opportunities for FDIs and other businesses that are part of the supply chain of infrastructure and other government spending,” he said.

Last year, equity other than reinvested earnings also fell by 38.2% to $1.449 billion after gross placements dropped by more than a quarter to $2.147 billion.

On the other hand, gross withdrawals rose by 18.4% to $698 million from a year earlier, BSP data showed.

Singapore, Japan and the United States were the main sources of equity capital placements, the central bank said. These investments were funneled mainly into the financial, insurance, real estate, electricity, gas, steam and air-conditioning supply, and manufacturing industries.

BSP said reinvested earnings rose by 16.6% year on year to $1.046 billion.

Analysts said foreign companies had deferred their expansion plans due to global uncertainties and the lack of clarity in local tax reforms.

“In 2019, investors faced difficulties from the trade war as well as regulatory risks plus uncertainties from tax reform bills that went pending for several months and impaired expansion plans,” Robert Dan J. Roces, chief economist at Security Bank Corp., said in an e-mailed reply to questions.

President Rodrigo R. Duterte this week certified a proposed Corporate Income Tax and Incentives Rationalization Act as urgent, which would allow the Senate to approve the measure on second and third reading on the same day.

Senators are still debating the bill, which will gradually cut corporate income tax to 20% from 30% and streamline fiscal incentives, in plenary. Congress will go on an almost two-month break starting March 13.

The drop in Philippine FDI suggests that investors might be picking regional peers over the Philippines, said Emilio S. Neri, Jr., lead economist at Bank of the Philippine Islands.

STILL LAGGING
Indonesia, Malaysia and Vietnam seem to be more attractive destinations because they are better prepared to exploit redirected trade due to protectionist policies in China and the US, he said in an e-mail.

These policies include “wage competitiveness, adequacy of infrastructure, predictability of policies, quality of governance and ease of doing business,” Mr. Neri said, noting that FDI in these countries are higher than in the Philippines.

Indonesia’s FDI hit $28.2 billion last year, down from $29.3 billion in the previous year, Reuters reported, citing the country’s Investment Coordinating Board.

Total approved FDI flows to Malaysia rose by 6.5% to 66.3 billion ringgit or about $15.3 billion in the first nine months of 2019, according to Reuters, citing the Malaysian Investment Development Authority. Vietnam’s FDI inflows had reached $11.96 billion by August.

Some analysts think the government should step up efforts to boost investment flows amid the potential of a prolonged novel coronavirus outbreak.

The central bank is expected to review its targets and estimates for the year in the next quarter.

BSP Governor Benjamin E. Diokno earlier said FDI could drop as the coronavirus disease 2019 (COVID-19) outbreak that has killed almost 3,900 people and sickened about 111,000 more dissuades companies from expanding.

“Moving forward, we will not be surprised if FDI in early 2020 will continue to slow down or contract on the back of intensified regulatory risks in the Philippines as well as the rising risks, financial market turbulence and uncertainty arising from COVID-19,” Mr. Neri said.

Targeted fiscal stimulus including a supplemental budget for the Health department and other “careful, specific and coordinated policies” from the central bank, the National Government and Legislature could help restore investor confidence, Mr. Asuncion said.

Local health authorities yesterday reported nine new cases, bringing the total to 33 infections. — with Reuters

Exports growth outpaces imports rise in January

By Marissa Mae M. Ramos
Researcher

THE COUNTRY’S trade-in-goods deficit narrowed in January as merchandise export growth outpaced the increase in imports, the Philippine Statistics Authority (PSA) reported on Tuesday.

However, economists said this may be short-lived as global value chains are being disrupted by the ongoing coronavirus disease 2019 (COVID-19) outbreak.

Philippine trade year-on-year performance (January 2020)

Preliminary PSA data showed the total value of merchandise sales abroad increased by 9.7% year on year to $5.79 billion at the start of 2020.

This was a turnaround from the 6.7% drop in January 2019, albeit slower than the 21.6% growth seen in December 2019.

The export growth in January was above the four-percent growth target set by the Development Budget Coordination Committee (DBCC) for 2020.

Meanwhile, the country’s import bill went up by one percent to $9.29 billion in January. This marked a reversal from the 7.6% contraction in December, but was slower than the 3.6% import growth in January last year.

The January result marked the first time since March 2019 that imports grew year on year. Nevertheless, this was below the DBCC’s eight-percent growth target set for this year.

The country’s trade-in-goods deficit amounted to $3.5 billion, narrower than the $3.92-billion shortfall recorded in the same month last year.

However, economists said the gains made in January may not be sustained as effects of the COVID-19 outbreak are expected to be seen in the subsequent months of trade data.

“Exports [at 9.7%] were very good, but it is hard to say [on whether this will continue] since January data is still a bit noisy,” said George N. Manzano, University of Asia and the Pacific (UA&P) economist and a former tariff commissioner.

“The game changer for the country’s external trade is the COVID-19 outbreak, which can alter world trade fundamentally,” he told BusinessWorld in a phone interview.

In a note to reporters, Security Bank Corp. Chief Economist Robert Dan J. Roces said the export figures in January have not yet captured the impact of COVID-19 with the gains likely being “residual effects from December levels” as well as driven by orders related to the phase one trade deal signed between the US and China in January.

“Import numbers [are] also not capturing [the] outbreak impact yet as inbound shipments from China grew 16.4%, which we think will be hard-pressed to perform until the second half of the year as manufacturing and logistics concerns still hounding mainland China might lead to a negative economic feedback loop,” Mr. Roces said.

In a separate note, ING Bank N.V. Manila Senior Economist Nicholas Antonio T. Mapa said the 9.7% gain in exports was “driven largely by the mainstay electronics subsector,” and that the “surprise exports growth” in January may “not likely to last much longer.”

By commodity group, exports of manufactured goods — which accounted for 81.25% of the total overseas sales in January — grew by 7.5% to $4.7 billion. Exports of electronic products, which made up around 56% of total merchandise exports in January, rose 15.8% year on year to $3.23 billion. Semiconductors, which made up 43% of electronics, jumped 21.9% to $2.48 billion.

Similarly, exports of mineral products went up 33.5% to $482.17 million, followed by that of agro-based products (14.5% to $429.7 million) and forest products (14.2% to $27.97 million).

On the other hand, overseas sales of petroleum products declined by 17.6% to $38.03 million.

Meanwhile, imports of mineral fuels, lubricant and related materials; and capital goods increased by 20.2% ($1.03 billion) and 1.7% ($3.05 billion), respectively.

Imports of raw materials and intermediate goods fell by 3.7% to $3.51 billion. Consumer goods also dipped by 0.3% to $1.62 billion.

“In the coming months, we may expect a drop in demand for these electronic components as the global supply chain remains impaired by work stoppages and depressed demand due to [COVID-19]. A projected slowdown or contraction in electronics exports will likely drag on the entire export sector in 2020,” ING Bank’s Mr. Mapa said.

Mr. Mapa added that import gains from China “will likely reverse to contraction” with the bulk of these goods being raw materials used for construction or re-export.

“This development may be crucial for the government and its ambitious infrastructure plans as iron and steel are sourced from China which could lead to delays in the government’s construction efforts. Meanwhile, Philippine exports may also revert to contraction in the coming months as raw materials used in the re-export of these products fail to arrive and resulting in overall weakness in overall exports,” Mr. Mapa said.

UA&P’s Mr. Manzano shared a similar assessment: “Most of the country’s exports of semiconductors were imported before being processed in the country, then exported the next month. This may constrain the country’s trade activity further as our exports are dependent on imports of component parts.”

“Expect the DBCC to revise import and export growth assumptions downward — as this was formulated in December and COVID-19 may not yet be taken into account,” he added.

The United States was the top market for Philippine goods in January, accounting for 16.3% with $941.73 million. It was followed by Japan with a 16.1% share of $930.89 million, and Hong Kong’s 14% share of $809.74 million.

On the other hand, Mainland China was the biggest source of foreign goods purchased by locals in January, accounting for 25.5% at $2.37 billion. Other major import trading partners were Japan and Korea, which contributed 8.7% ($810.69 million) and 7.5% ($698.27 million), respectively.

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