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Infra spending seen recovering

By Beatrice M. Laforga
Reporter

INFRASTRUCTURE spending would probably recover this year with a national budget already in place, after lagging in the 11 months through November, the Budget department said on Thursday.

Infrastructure expenditures jumped 28.6% year-on-year to P80.9 billion in November, even as the 11-month tally fell 2.6% to P709.4 billion, data from the agency showed.

“We see the economy firing on all cylinders this year with substantially higher government spending on infrastructure and social services, stronger domestic consumption responding to a benign inflation, and a revitalized agricultural sector,” Finance Secretary Carlos G. Dominguez III said in a speech at an event in Makati City yesterday.

“Surely, the public spending side of the growth equation will spur economic activity over the next few months,” he added.

Budget officials traced the spending surge in November to payments made for completed and partially completed infrastructure projects of the Public Works and Transportation departments. Projects covered included roads, bridges, flood control structures, sea and airports.

Payments of the Transportation department for right-of-way acquisitions contributed to higher spending, the Budget department said in a report.

Construction of buildings for the Land Transportation Office and Land Transportation Franchising and Regulatory Board also lifted spending during the month, it said.

“The surge may have come from the government’s spending catch-up plan,” UnionBank of the Philippines Chief Economist Ruben Carlo O. Asuncion said in an e-mail.

“The government has been trying to disburse the 2019 national budget since its late passage into law last April 2019,” he added.

The Budget department report traced the 11-month lag in infrastructure spending to the delay in the approval of last year’s national budget and an election-related spending ban.

Michael L. Ricafort, chief economist at Rizal Commercial Banking Corp., said the economy would probably grow by 6.4% to 6.8% this year as investments pick up.

“We still have more drivers,” he said in a speech at an insurance event yesterday, noting that investments or capital formation accounts for about 30% of the Philippine economy.

“So that would be another surprise that could come, because loan growth only started to pick up,” he added.

First-quarter gross domestic product growth (GDP) could quicken by as much as 7%, he said, noting that this year’s P4.1-trillion national budget had been enacted as early as Jan. 6.

“It would be a factor on how fast the government would catch up on spending,” Mr. Ricafort said, referring to the first-quarter infrastructure spending performance.

The economy grew by 5.9% last year, slower than expected and missing the government’s 6% to 6.5% goal. It was also slower than GDP growth of 6.2% in 2018.

Growth last year broke the seven-year streak of at least 6%, and was the slowest in eight years.

“We still consider 5.9% (growth) relatively decent and resilient,” Mr. Ricafort said, citing government underspending and the effects of the US-China trade war.

Socioeconomic Planning Secretary Ernesto M. Pernia earlier said a percentage point was lost due to the delayed passage of last year’s national budget, which left government programs and new infrastructure projects with no funding.

Projects were further delayed by the 45-day public works ban before the midterm elections in May 2019.

BSP eyes at least 50 bps policy rate cuts this year

THE CENTRAL BANK is still looking to cut rates by at least 50 basis points (bps) this year, its chief said on Thursday.

Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said while the central bank will remain “data dependent,” it still has “a long way to unwind” the policy tightening it did in 2018 to quell inflation.

Asked whether the central bank will still cut rates at least by 50 bps as he said in December, Mr. Diokno told reporters at a briefing held at BSP on Thursday: “50 basis points this year? Yes. Still.”

Mr. Diokno has also said a 25-bp cut is possible as early as this quarter.

The BSP Monetary Board will hold its first policy meeting for the year on Feb. 6. Its other review for the quarter is on March 19.

Benchmark rates currently stand at 3.5% for the overnight deposit facility, four percent for overnight reverse repurchase and 4.5% for overnight lending following 75 bps worth of reductions implemented last year.

These cuts partially reversed the 175 bps worth of rate hikes in 2018.

The economy expanded by an eight-year low of 5.9% last year, missing the low end of the government’s 6-6.5% gross domestic product (GDP) growth target for 2019.

Mr. Diokno said the BSP’s policy decision next week will mainly depend on inflation and other data and need not follow the US Federal Reserve’s move to keep rates steady at their first review on Jan. 28-29.

“The reading right now is that maybe the Fed might cut another 50 basis points. Maybe one cut in the middle of the year and another one at the end of the year. That’s the new reading… Maybe we will do our own analysis on inflation,” he said.

He added that being data dependent means not only assessing previous data but also projections.

“[It] looks like petrol prices will continue to go down. [It] looks like food inflation will continue to go down. So let’s see,” he said.

IMPACT FROM TAAL, VIRUS
Meanwhile, the central bank said its initial assessment showed Taal Volcano’s eruption could have a minimal impact on gross domestic product growth in the first quarter.

“So our estimate is it’s between P4.3 billion to P6.7 billion. The total economic GDP is around P20 trillion,” Mr. Diokno said. “The impact of the eruption could result in the slightly lower growth of output in the [Calabarzon] Region for the first quarter of 2020.”

“While we do not expect this to substantially dampen the country’s growth prospects for 2020, we are mindful that the threat of the more dangerous eruption has not fully dissipated,” he added.

The Philippine Institute of Volcanology and Seismology lowered Taal Volcano’s alert status to level three from four on Jan. 26. This has allowed some of about a million people displaced to go back to their hometowns.

On the other hand, the central bank said they are still looking into the impact of the spread of the novel coronavirus from China to the country as they have mostly seen its effect on the Chinese economy, BSP Monetary Policy Sub-Sector Officer-In-Charge Dennis D. Lapid said.

“But an emerging assessment is that it could be short-lived compared to previous similar disease outbreaks. This time around many of the governments have already learned… Authorities in the region are much better placed…,” Mr. Lapid said.

He added that what complicated the situation is that the spread of the virus coincided with the Lunar New Year, when a lot of people in China travel.

Mr. Diokno said a part of the response of the Chinese government to the outbreak is to extend the holiday.

“I think unlike the previous incidents, the Chinese government is in a better position to contain it and I think it’s less fatal,” Mr. Diokno said.

The Health department on Thursday confirmed the first case of the novel coronavirus in the Philippines. — L.W.T. Noble

Virus outbreak to have short-term effect on tourism sector — Pernia

THE NOVEL CORONAVIRUS (2019-nCoV) outbreak is likely to have a short-term impact on the country’s tourism sector, according to economic managers.

This as health officials on Thursday reported the first case of the new coronavirus in the Philippines.

“I think it’s likely to just have a short-term impact because given the measures being done to minimize the (spread of the coronavirus)… It shouldn’t take long for that to have an effect on the economy,” Socioeconomic Planning Ernesto M. Pernia said when asked about the outbreak’s potential impact on tourism during a press conference on Thursday evening.

To curb the spread of the virus that has now killed 170, China announced a ban on outbound organized tour groups.

According to data from the Department of Tourism (DoT), China was the second-highest source of foreign tourists during the January-November period last year, accounting for around 22% of the 7.5 million visitors in the Philippines.

Finance Secretary Carlos G. Dominguez III, however, said it is still too early to come up with projections on the decline in tourism revenues due to the coronavirus outbreak.

Mr. Pernia pointed out there may be savings on foreign exchange, as some Filipinos may choose to forego overseas travel.

“Maybe to some extent we will be saving on foreign exchange since the travel of Filipinos, to China for example, will be limited, will be curtailed and also to other Asian countries. I think Filipinos will be more careful in going to these countries so there will be, they won’t be spending foreign exchange,” he said.

In a report on Thursday, Moody’s said several Asian-Pacific economies are “vulnerable to a decline in tourism from China.”

“The outbreak will take a toll on tourism sectors elsewhere in the region, and places outside the region that receive tourists from China… The fear of contagion could dampen consumer demand and affect tourism, travel, trade, and services in Hong Kong, Macao, Thailand, Japan, Vietnam and Singapore, which have been the top destinations of Chinese tourists in recent years,” Moody’s said.

“We expect the risk of potential negative spillovers to domestic tourism in neighboring countries to be higher than during SARS because Chinese nationals now make up the largest share of visitors to other Asia-Pacific economies,” it added.

S&P Global Ratings, on the other hand, noted that the coronavirus outbreak is “likely to hit travel and consumption activities.”

“In a scenario of widespread infection, it could materially weaken economic growth and fiscal positions of governments in Asia,” S&P said in a report. — Beatrice M. Laforga

Policy makers fret over global growth risks from spread of Wuhan virus

WASHINGTON/TOKYO — A rapidly spreading virus outbreak in China is emerging as a potentially major new risk to the global economy and leaving policy makers, still grappling with the impact of the Sino-US trade war, fretting over the widening fallout.

The potential effects of the spread of the coronavirus, which has killed 170 in China since its detection early last month, took center stage in US Federal Reserve Chair Jerome Powell’s news conference on Wednesday.

“China’s economy is very important in the global economy now, and when China’s economy slows down we do feel that — not as much though as countries that are near China, or that trade more actively with China, like some of the Western European countries,” Mr. Powell said.

Japanese Prime Minister Shinzo Abe also voiced concern on Thursday over the potential damage to Japan’s economy, which is heavily reliant on China as a production and market base.

“I would like to scrutinize the economic impact, including that from the hit to tourism,” Mr. Abe told parliament.

Zhang Ming, an economist at the Chinese Academy of Social Sciences, a top government think tank, projected the outbreak would cut China’s first-quarter growth by one percentage point to 5% or lower.

China has imposed travel restrictions and shut businesses to contain the outbreak, but has not quelled rising concern among companies and governments across the world, some of whom are taking swift action.

A plane of Japanese evacuees from the Chinese city of Wuhan, the epicenter of the outbreak, arrived in Tokyo on Thursday. New Zealand and Indonesia are also preparing to evacuate their citizens.

Airlines including British Airways, United Airlines and Lufthansa are cutting or suspending flights. Starbucks has closed more than half its cafés in China and Walt Disney shut its resorts and theme parks in Shanghai and Hong Kong.

In the Philippines, health officials have confirmed the first case of the new coronavirus in the country. A 38-year-old Chinese woman, who arrived in the country from Wuhan, China, on Jan. 21, tested positive for the novel coronavirus, Health Secretary Francisco Duque told a news conference. (Read related story “First virus strain case confirmed; DoH ‘on top’ of it” on S1/10)

“Apart from the risk to human lives, it is likely to hit travel and consumption activities. In a scenario of widespread infection, it could materially weaken economic growth and fiscal positions of governments in Asia,” S&P said on Thursday.

Asian stocks sank on Thursday as the death toll from the virus rose and more cases were reported around the world. Yields on benchmark 10-year US Treasuries also hit a three-month low of 1.5600% as investors sought the safety of government bonds.

“We expect the risk of potential negative spillovers to domestic tourism in neighboring countries to be higher than during SARS because Chinese nationals now make up the largest share of visitors to other Asia-Pacific economies,” Moody’s said on Wednesday.

“The timing is particularly bad for Japan as it seeks to rebound from the dip in consumption, and presumably real GDP growth, in the last quarter of 2019 following a sales tax hike.

Analysts are comparing the current coronavirus outbreak to the 2002-2003 Severe Acute Respiratory Syndrome (SARS) epidemic, which led to about 800 deaths and slowed Asia’s economic growth. Many say the impact on global growth could be bigger this time, as China now accounts for a larger share of the world economy.

The fallout from the epidemic casts a shadow over the Bank of Japan’s projection that global growth will pick up around midyear and help Japan’s economy sustain a moderate recovery.

China is Japan’s second-largest export destination. The Chinese make up 30% of all tourists visiting Japan and nearly 40% of the total sum foreign tourists spent last year, an industry survey showed. — Reuters

Sarah Brightman returns to PHL

ENGLISH soprano Sarah Brightman’s HYMN in Concert tour will make a stop in the Philippines on June 10 at the Smart Araneta Coliseum. This marks Ms. Brightman’s first visit to the country after more than 15 years.

“I’m so excited to share this album with everyone. Hymn is excitingly eclectic, encompassing many different styles, and I’m looking forward to performing the new songs on my world tour,” Ms. Brightman said in release.

The last time Ms. Brightman was in Manila was for her 2004 Harem tour.

The album, released in 2018, is described as “mystical” and “uplifting” and includes songs like “Fly to Paradise,” “Miracle,” “Sky and Sand,” and the titular “Hymn.” It closes with a new rendition of “Time To Say Goodbye,” her signature duet with Italian opera singer Andrea Bocelli.

This is her 15th album. Her concert tour of the same name has so far toured five continents since 2018 and has had over 125 shows.

“Every project I’ve done has come from an emotional place, and I wanted to make something that sounded very beautiful and uplifting. To me, ‘hymn’ suggests joy — a feeling of hope and light, something that is familiar and secure, and I hope that sentiment resonates through the music,” Ms. Brightman said in the release.

Born in 1960, Ms. Brightman started her career as a member of dance troupe Hot Gossip but eventually debuted on London’s West End in 1981 in Cats. She was the first Christine Daaé in Andrew Lloyd Weber’s Phantom of the Opera which premiered in 1986.

Known as one of the first artists to do classical-crossovers, Ms. Brightman’s career has seen her sell more than 30 million albums globally and she has racked up more than 180 gold and platinum awards in over 40 countries. Her duet with Mr. Bocelli in 1996, “Time to Say Goodbye,” became an international hit, selling 12 million copies worldwide.

Ms. Brightman has performed in major events such as 2007’s Concert for Diana, the opening of the 1992 Barcelona Olympics, and the opening of the 2008 Beijing Olympics.

Tickets to Sarah Brightman’s HYMN in Concert go on sale on Feb. 1, 10 a.m. at TicketNet.com.ph. For more information, call 8911-5555. Ticket prices range from P1,060 to P21,200. — Zsarlene B. Chua

PCC renews call to review foreign equity limit in public services

By Jenina P. Ibañez, Reporter

THE Philippine Competition Commission (PCC) is renewing its recommendation to amend the law that limits foreign equity in public services.

“During this time it is probably time to revisit the definition of public service to allow other players to come in. That’s what we are doing,” PCC Commissioner Annabelle C. Asuncion said in a press conference on Thursday.

The PCC in 2017 first backed amendments to the Public Service Act, including removing the foreign equity cap on the telecommunications and transportation industries.

The industries, which are considered public utilities, limit foreign ownership of the public utility company to 40%. The remaining 60% must be owned by Filipino citizens.

The law that defines the country’s public service utilities was first passed in 1936.

Ms. Asuncion told reporters after the press conference that the 60-40 requirement limits players that can enter a market.

“From the competition perspective, limited. Limited ‘yung possible players who will come in. Sinasabi nga namin in a globalized economy mas gusto mo talaga na maraming players (We said that in a globalized economy it is preferred to have numerous players),” she said.

The PCC’s position notes that public utilities should include only four sectors: electricity (and its transmission), gas or petroleum distribution, water distribution, and sewerage pipeline systems.

Sectors outside of this, PCC believes, should not necessarily be covered by the 60-40 rule.

“The point is, kailangan i-revisit ‘yung (there needs to be a revisit of the) definition ng public service. For example, telco — is it still a public service that requires 60-40, or is it a service that you can open up to foreign entities?”

The four suggested public utility sectors, she said, would create a natural monopoly.

Citing sewerage systems as an example, Ms. Asuncion said that competition would be inefficient for the sector.

“For it to be efficient for a player, for a business to enter into, kailangan niya (it would need to) mag-invest so much in terms of capitalization that for them to be able to recover their investment, they would have to have a wider scope dun sa pwede nilang pag-operate-an (in where they can operate),” she said.

Natural monopoly ‘yan. Competition will not be efficient because if there are two players providing that kind of service within a small geographic area for example, they would probably die. Malulugi sila (They will lose money).”

PCC in an e-mail noted that the current bill to amend the act filed in the 18th Congress has taken note of their recommendations since 2017, “with some adopting our recommendations and adding that the PCC should be included in the technical team along with NEDA to determine whether other industries would be classified as public utilities.”

The House of Representatives in September began tackling House Bill 78, which if passed into law would give both the PCC and the National Economic and Development Authority power to recommend the public utility classifications of industries.

The criteria for the recommendation includes that the service is necessary to the public, a natural monopoly, regularly distributes the commodity service to the public, is necessary for the life and occupation of residents, and that the commodity or service is obligated to provide adequate service to the public on demand.

The bill is currently pending plenary approval in the House of Representatives and is pending at the committee level at the Senate.

Commissioner Johannes Benjamin R. Bernabe said that the companies still need to be regulated even if equity limitations are relaxed.

Ms. Asuncion added those companies in industries no longer considered public utilities would still be regulated by the relevant sector regulator.

Unholy Mother, Our Lady of Limitless Lies

By Carmen Aquino Sarmiento

MOVIE REVIEW
The Kingmaker
Directed by Lauren Greenfield

And no wonder, for even Satan disguises himself as an angel of light. — 2 Corinthians 11:14

THE MUCH-AWARDED documentary The Kingmaker, by Lauren Greenfield, opens with the octogenarian Imelda Romualdez Marcos handing out crisp 20 peso bills to the clamorous rabble, through the purposely open window of her van. It was 2014, and Mrs. Marcos was in her latest political incarnation as the representative of Ilocos Norte-Congressional District 2. (When she turned 90 last year, her nephew Angel Barba, the son of President Ferdinand Marcos’ youngest sister Fortuna Marcos Barba, took over this seat.) But even then, the groundwork was being laid for the ascendancy of her only son, Ferdinand “Bongbong” Marcos, Jr.

That was a relatively quiet period in the life of “The Beautiful One,” as the assassinated Benigno “Ninoy” Aquino, Sr. called her. She had been on the world stage, hobnobbing with the mightiest 1%, since the mid-1960s. Through the years, she has been the subject of countless visual artists, of playwrights Carlos Celdran and David Byrne, and another documentarist Ramona Diaz (Imelda, 2003). Greenfield speculates that it was during this lull that Mrs. Marcos might have found the attention and the prospect of being the subject of yet another documentary, a welcome diversion.

Savvy and wily as ever, Mrs. Marcos relentlessly milks her every on-screen moment to present her singular version of reality. This is generally a comparison of what it was like, in the time of Marcos (Intra-Marcos), and apres Marcos, le deluge. A lie repeated often enough, becomes the truth. Eg., Intra-Marcos, one did not see beggars or poverty in the Philippines, but only her ostentatious love, and bountiful bodacious beauty. That was probably because shanty towns were hidden behind high whitewashed fences, and critics of their regime were brutally silenced, especially during Marcos’ Martial Law. Nonetheless Mrs. Marcos would have viewers believe that the Marcoses are victims too. The woman is a player, just like a fat ginormous old cat toying with a hapless mouse. In a way, it is she who let’s us see what she wants us to see. Such is Mrs. Marcos’ formidable charisma that Greenfield herself would only say that she was an “unreliable narrator,” instead of naming what she really is: a liar. Pains are taken to juxtapose documentary footage to dispel Mrs. Marcos’ relentless historical revisionism. But words have never inflicted lasting damage on Mrs. Marcos as the impossibility of exacting an execution of judgment of her conviction have shown.

There are times when the artifice slips. She frets about being unable to access her 170 bank accounts, and, while protesting her family’s innocence, gloats at how she smuggled out a Pampers-box full of precious jewels when they were so unceremoniously “kidnapped” in 1986. She slyly notes that not being taken too seriously can work to one’s advantage. The most memorable meme is her unabashed declaration that “Perception is real, the truth is not.” It’s the story of our time.

But how many of the multitudinous apres-Marcos generations (X,Y, Z and i) will see her for what she really is? Grace notes of sobriety and truth come in painful soundbites through the balancing and harrowing interviews of Marcos’ Martial Law survivors, such as Etta Rosales and May Rodriguez who shared details of their detention, torture, and sexual assault at the hands of Marcos state agents. The writer Jose “Pete” Lacaba breaks down as he recalls the mutilation and salvaging of his brother Emman, as well as his own ordeal.

How the powerful manipulate reality was graphically illustrated in Mrs. Marcos’ transformation of Calauit into her family’s private wildlife preserve. It was the exceedingly strange and surreal existence of Calauit which had initially piqued Greenfield’s curiosity. Helpless ruminants — giraffes, gazelles, zebras from the Kenyan savannah — were illegally imported to be captive targets in the Marcos’ personal shooting gallery. Meanwhile the indigenous inhabitants were driven out of their huts and farms. After generations of in-breeding and without an attending veterinarian, the Calauit giraffes have been observed to have shorter necks. Apres Marcos, some of the original displaced Calauit inhabitants made their way back, but the zebra are a bane to their swidden cultivation plots.

Mrs. Marcos pours out the pathos with the measured and mastered cadences of a practiced performer. It may be the artistry of the grifter, the dissembler and the con, but, like all illusion, it is magical and riveting when well done. A horde of snappy servants, sycophants, and security men are the supernumeraries setting the stage for her every calculated move and elegantly cadenced utterance. She proudly presents as the Cinderella-orphan who made good, although publicly, she has never confirmed the published accounts of her barefoot Dickensian childhood. Having lost her mother Remedios Trinidad at a tender age (cue the violins), she asserts and reiterates ad nauseum, her selflessly transcendent role as our nation’s noble mother. In a spasm of gender-fluid introspection, she muses that Ferdinand E. Marcos was not merely husband but also a Svengali-like mother to her. As the 2016 campaign draws nigh, the P20 bills are replaced by stacks of icy blue thousands.

In the early stages, The Kingmaker production crew had extraordinary access, even shooting in Mrs. Marcos’ lavish Makati apartment where several European masters were blatantly on display, including an unlikely Michelangelo which the curator Marian Pastor Roces snorts has a provenance so shady, that some unscrupulous art dealer must have laughed all the way to the bank. Former Presidential Commission on Good Government Commissioner Andres Bautista sent a raiding team to seize these obvious fruits of ill-gotten wealth, but they had been replaced by framed portraits of the Marcoses. Poor Bautista plays it straight, and ruefully notes that since he was the Commission on Elections Commissioner when Leni Robredo narrowly won the vice-presidency against all odds, he had to go into self-exile in Oklahoma.

Watching Mrs. Marcos is as fascinating as the indomitable predators in nature documentaries whose evolutionary biology dictates that they propagate their genes unto the succeeding generations. Her limbic-brained will to power is manifested in her stony determination to see Ferdinand Jr. ensconced in the Palace at any cost. That is why Mr. Bautista must watch his back. Even in her dotage, Mrs. Marcos is not giving up. It must gall her no end that both Corazon C. Aquino and Benigno Simeon “Noynoy” Aquino got that choice plum, the presidency, which she has always aspired for, but which had eluded her.

To put it kindly, Bongbong Marcos is not as gifted as either parent. Now 62, he has anointed his own K-pop pretty and boy band banal son, Sandro Araneta Marcos, as his successor. Greenfield mischievously shows how young Sandro during the 2016 elections, needs a new ballot because, in his own words, he “messed up” and initially voted for two presidents. His paternal grandfather Ferdinand Sr. topped the Bar Exams with the highest average ever. Greenfield inserts a bit about the folly of political dynasties. Sometimes the fruit just keeps rolling away from the tree.

Maynilad picks Consunji-led firm for 150-MLD water treatment plant

MAYNILAD Water Services, Inc. has chosen a consortium led by a unit of DMCI Holdings, Inc. to build a 150-million-liters-per-day (MLD) plant that will treat water from Laguna Lake, a company related to the water concessionaire said.

First Pacific Co. Ltd. told the stock exchange of Hong Kong, where it is listed, that Maynilad had entered into a service contract with AA-DMCI Laguna Lake Consortium on Jan. 28 for the project.

“The scope of work under the Project involves the provision of engineering design, construction, supply and installation of electromechanical equipment or process units, testing, commissioning and process-proving of the Facility,” it said in a disclosure on Jan. 29.

The First Pacific group has approximately 51.3% interest in Maynilad Water Holding Co., Inc. (MWHC), the holding company of Maynilad incorporated in the Philippines.

Consunji-led DMCI Holdings, being a 27.2% shareholder of MWHC, is a connected entity to First Pacific.

The service contract was awarded to AA-DMCI Laguna Lake Consortium, which is a partnership of DMCI Holdings unit D.M. Consunji, Inc. and Spanish firm Acciona Agua, S.A.

Sought for comment, an official of Maynilad said Metro Manila’s west zone concessionaire was preparing a statement on the matter. The official did not disclose the cost of the project when asked.

First Pacific said the project’s scope of work includes the installation of an intake system from, and a brine discharge system into, Laguna Lake, treated water reservoir and pumping station and connection of the facility to the water distribution network.

The service contract forged with the consortium sets out the terms and conditions governing the relationship between the parties, including but not limited to the contract price and terms of payment, scope of work, project milestone dates and confidentiality.

First Pacific said the service contract has a term of 1,679 calendar days to take effect from Jan. 28, 2020 to the issuance of the performance certificate, comprising an initial period during which the consortium is to perform the scope of work, followed by a defects notification period of 730 days, which runs concurrently with a process-proving period of 365 days.

Maynilad, a concessionaire of the state-led Metropolitan Waterworks and Sewerage System, serves the cities of Manila, except portions of San Andres and Sta. Ana. It also covers Quezon City west of San Juan River, West Avenue, EDSA, Congressional, Mindanao Avenue, the northern part starting from the districts of the Holy Spirit and Batasan Hills.

Down south, it serves Makati west of South Super Highway, Caloocan, Pasay, Parañaque, Las Piñas, Muntinlupa, Valenzuela, Navotas and Malabon all in Metro Manila; and the cities of Cavite, Bacoor and Imus, and the towns of Kawit, Noveleta and Rosario, all in Cavite province.

Ramoncito S. Fernandez, Maynilad president and chief executive officer, said in December last year that the company had diversified using its permission from the MWSS as early as 2009 to build two water treatment plants in Putatan, Muntinlupa ahead of a third plant in Poblacion of the same town in January.

Metro Pacific Investments Corp., which has majority stake in Maynilad, is one of three Philippine units of Hong Kong-based First Pacific, the others being Philex Mining Corp. and PLDT Inc. Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has interest in BusinessWorld through the Philippine Star Group, which it controls. — Victor V. Saulon

Workers without access to ‘decent’ jobs seen at 470M

ACCESS to decent work is deteriorating because employers keep offering inappropriate wages or demand long hours, the International Labor Organization (ILO) said.

In a report, World Employment and Social Outlook: Trends 2020 (WESO) released on Jan. 20, the ILO estimated the number of workers worldwide facing such conditions at 470 million.

“More than 470 million people worldwide lack adequate access to paid work as such or are being denied the opportunity to work the desired number of hours,” ILO said in the report.

This total includes 188 million who are currently unemployed; 165 who are underemployed; and 120 million who are not able to find decent work, ILO said. This suggests the “underutilization” of the global labor force which is not captured by typical indicators like unemployment rates.

WESO lead author Stefan Kühn said in a statement: “Labour underutilization and poor-quality jobs mean our economies and societies are missing out on the potential benefits of a huge pool of human talent.”

ILO also reported that global unemployment is expected to rise by 2.5 million this year, because of the mismatch between the numbers of those entering the workforce and the available jobs that are appropriate to their skills.

The report said being employed does not guarantee having decent work, with 61% of the global workforce, or about 2 billion workers, employed only informally. — Gillian M. Cortez

Best films of the past 10 years

A GRIM DECADE, grimmer now in its passing. Not a lot of comedies on my list, and what laughter there is often dies strangled in the throat.

Do the films reflect that grimness? In ascending order:

Beginning with the three Andersons — can’t say this was Paul Thomas’ decade; The Master was well-made but emotionally opaque, Inherent Vice a slowed-down version of the sparkling Pynchon novel. Phantom Thread I enjoyed as a metaphor for the director’s micromanaging ways, the startlingly witty solution formulated to deal with those ways.

Wes is at first glance a lighter-flavored Anderson but no less inventive ideawise, a hermetically sealed filmmaker in whose aquarium films exotic creatures swim against intricate miniatures. Found his Moonrise Kingdom emotionally satisfying because, 1.) his stories seem to resonate best in childhood setting, and, 2.) he needs a romance to drive his often meandering narratives, and this particular love story appealed more than the others.

My favorite Anderson by far is the underrated Paul WS, and I’d argue Pompeii is his masterpiece — a historical melodrama in the Gladiator mode (albeit on a smaller budget) that improves on Ridley Scott’s elephantine dungheap by being fleetfootedly witty, pausing only to evoke an image straight out of Roberto Rossellini’s Journey to Italy before the final fadeout.

Tim Burton in the past 10 years has been hit or miss, mostly miss; that said, even his misbegotten Dumbo I prefer over any other Disney production, live action or animated, and his Big Eyes is a cunning little tale of misappropriated credit. Speaking of Disney, my favorite film involving the studio has to be hands down Sean Baker’s The Florida Project, about life lived in the margins of The Enchanted Kingdom — basically, not all that enchanting.

Joselito Altarejos’ Jino to Mari (Gino and Marie) takes the Boatman/Private Show sex performer’s story a step further, the real spectacle here being two people stripping away their sense of self — not a pretty sight. Park Chan Wook’s The Handmaiden is sexy evil fun. David Cronenberg in A Dangerous Method leaves prosthetic effects behind to depict the ultimate Cronenberg creature: Kiera Knightly as Sabina Spielrein, the catalyst and inspiration for two of the 20th century’s greatest minds, Carl Jung and Sigmund Freud.

Atonette Jadaone’s Three Degrees of Separation from Lilian Cuntapay takes the one-of-a-kind presence of Lilian Cuntapay, veteran actress of Filipino horror films, and fashions a funny and poignant metafictional fable about her unappreciated acting career. Denise O’Hara’s Mamang takes a similar sense of comic morbidity and adds a touch of pathos, basing her story on her uncle — late filmmaker Mario O’Hara — and his close relationship with his mother.

Wong Kar Wai’s The Grandmaster is his most popcorn effort yet, an enjoyably wayward take on Ip Man, the legendary martial arts master who trained Bruce Lee.

Bong Joon Ho’s Parasite takes the class wars and spins them into fiercely engaging comedy, skewering lower and upper classes both.

Terence Malick’s Tree of Life is his 2001 — a cosmic vision both hypnotic and beautiful, but lacking the irony of Kubrick’s masterpiece; better in my opinion is Shane Carruth’s Upstream Color, which more Thoreau-ly, less soppily (and on a far smaller budget) expresses the mystery of nature.

Claire Denis’ High Life is her 2001, her take on the crushing isolation of deep space after all other fellow space travelers have died, either by suicide or violent murder (If hell is other people, is being the sole survivor — with your baby daughter as companion — heaven?). Arden Rod Condez’s John Denver Trending is isolation of a different kind, enforced by a community driven to hysterical frenzy by social media.

Sari Lluch Dalena’s Ka Oryang depicts the institutionalized loneliness imposed on women political prisoners during the Philippine Martial Law period. Sherad Anthony Sanchez’s Salvage suggests not just the dangers faced by telejournalists under the Duterte regime (military checkpoints and random killings and all) but the dangers of an increasingly pixilated world pulling loose of its moorings in reality. John Torres’ Ang Ninanais: Refrains Happen Like Revolutions in a Song is a heady mix of fable and fiction presented secretly, intimately, like poetry whispered in your ear. David Gordon Green’s Joe is the plainspoken portrait of a lonely young man and his monstrous abusive father — and the alternative father figure that represents possible salvation.

Olivier Assayas’ Clouds of Sils Maria plays enigmatic narrative games with the viewer; his Personal Shopper is even more fun, a genre-bending mix of ghost story, psychological thriller, and conspicuous consumption vicariously experienced through the eyes of the eponymous shopper.

Roman Polanski’s The Ghost Writer ratchets up the paranoia about hidden political scandals (a nation’s leader as foreign agent, which sounds distressingly familiar) and endangered scribes; Eduardo Dayao’s Violator — about a local jail where the Devil is possibly locked up — feels just as paranoid but even more inventive, Howard Hawks’ Rio Bravo as remade by Kurosawa Kiyoshi.

Hou Hsiao Hsien’s The Assassin is his most perverse: a wuxia romance that is also unapologetically a Hou film, leisurely paced and lyrically detailed. In Abbas Kiarostami’s Certified Copy, a man and a woman meet and talk — that’s all; yet the film feels thrilling and mysterious.

Shoplifters, Hirokazu Kore-eda’s take on urban poverty, roils considerably less than Bong Joon Ho’s, but in my book feels more honest. Lee Chang Dong’s Poetry, about a grandmother dipping her toe in the realm of verse while trying to deal with the fact of her troublesome grandson is even more spare, even more, well, poetic.

Martin Scorsese’s The Irishman is a portrait of the gangster as a lonely old man, confronting not just mortality or his conscience but the relentlessly withering forces of time itself. Masaaki Yuasa’s The Tatami Galaxy is nominally an 11-episode anime TV series and not a film, but its use of repetition and mixed media (stylized animation, hyperealistic animation, live-action footage) is irreducibly cinematic, its often metaphysical comedy sharpening the isolation of the unnamed college upperclass protagonist.

I failed to see Jean-Luc Godard’s Goodbye to Language in 3D as intended (arthouse 3D is, if anything, even more difficult to catch than ordinary arthouse) — still, the world’s most inventive living filmmaker at his most inventive. Apichatpong Weerasethakul is less inventive than he is singular — his films look and feel like no one else’s — and his Cemetery of Splendour is one of his most haunting works.

Janice O’Hara took her late uncle’s script and turned it into Rice Soldiers (Sundalong Kanin), her harrowing take on children struggling to survive World War 2 — her first and last film, sadly. Mario O’Hara’s The Trial of Andres Bonifacio is his independently produced, digitally shot, theatrically stylized take on one of the most infamous episodes in Philippine history, the railroaded trial and conviction of the founder of the Katipunan.

Lav Diaz’s Norte, The End of History takes the figure of Raskolnikov and fashions a Crime and Punishment that makes sense in a Filipino context. Terence Davies’ A Quiet Passion fashions out of the life of Emily Browning a rhymed meditation between image and text that does the poet justice.

Paul Schrader’s First Reformed retells his Taxi Driver narrative yet again, this time by way of Bresson (Diary of a Country Priest) and Bergman (Winter Light), to find saving grace in Ozu’s ego-deflating sense of humor. Terence Davies’ Deep Blue Sea is a spare tale sparingly told: a few sets, a handful of actors, an unforgettable passion play. Lee Chang Dong again, this time with Burning, takes the class war anger smoldering in Bong Joon Ho’s Parasite and wields it like a scalpel to the jugular.

Khavn’s Balangiga: Howling Wilderness is a different kind of anger, of the flamethrower variety — a creatively reimagined (to put it mildly) depiction of the American massacre at Balangiga, but is also a thinly veiled metaphor for Duterte’s bloody drug war.

James Gray’s The Immigrant (the very word feels politically loaded) dramatizes the sexism and xenophobia experienced by visitors to The New Land at the turn of the century, but could be happening just this morning. In Lav Diaz’s Florentina Hubaldo CTE the very title suggests the abuse inflicted on the eponymous character (chronic traumatic encephalopathy, a head injury usually found in football players) — the same time the protagonist comes to stand for the Philippine nation and its history of abuse.

Orson Welles died in 1985 but his reputation for miracles remains intact; his The Other Side of the Wind comes out 33 years after his passing and is as maddening and provocative as anything he’s ever done, a bittersweet valentine to the industry he came to hate and love.

Speaking of hate — Lav Diaz’s Panahon ng Halimaw is the filmmaker’s idea of a musical, a black-and-white rock opera with no musical instruments only unaccompanied voices, condemning the Marcos and Duterte regime both in an all-encompassing, all-consuming rant of rage.

Martin Scorsese — again — with Silence. Jesuit priest furtively practicing his faith in Japan, is caught and tortured. Scorsese’s film again wrestles with a crisis of faith and what for me is the real point is what happens after the climactic confrontation: the long wandering odyssey of a soul that has lost everything, even its sense of self. The final image, condemned as being unduly optimistic, is actually shrouded in ambiguity; there are no real answers here, only…

David Lynch’s Twin Peaks: The Return is, yes, nominally cable television (though the first four episodes premiered in Cannes) but so radically out there it really isn’t television or film but its own creature. The subtext — running through Blue Velvet, Mulholland Drive, to Twin Peaks: Fire Walk With Me — a classic noir admonition: Cherchez la femme, par dieu! Cherchez la femme!

Speaking of dieu, there’s Alexei German’s Hard to be a God, about a man secretly embedded in a muddied, bloodied, shit-smeared, vomit-stained rectum of an alien planet, as perfect a summation of my feelings about this past decade as any. Hopefully things get better than this — difficult to imagine how they can get any worse.

Beyond that? Isao Takahata has always admitted to the possibility that things can get bad, has made a World War 2 film — Grave of the Fireflies — where things get pretty bad. His The Tale of Princess Kaguya is a retelling of one of Japan’s oldest stories only with a more psychologically rounded heroine capable of feeling desire, guilt, love, despair, and in telling that story — in ruthlessly following the contours of the tale’s inexorable narrative — has us alternately plunging and soaring in sympathetic resonance with his heroine. A great film, and in my book the best of the decade.

Lyft cuts 2% jobs on journey to profitability

LYFT INC. said on Wednesday it had cut about 2% of its workforce, or 90 jobs, as the ride-hailing company seeks to achieve its goal of profitability by the end of 2021.

The restructuring happened in two of its teams, sales and marketing, the company said.

Lyft, which operates in 95% of the United States and select cities in Canada, including Toronto and Vancouver, said it had employed 5,500 people.

“We’ve carefully evaluated the resources we need to achieve our 2020 business goals, and the restructuring of some of our teams reflects that,” the company’s spokeswoman told Reuters.

Lyft plans to hire more than 1,000 employees this year, the spokeswoman added, without providing further details.

Chief Executive Officer Logan Green said in October that Lyft is expected to be profitable on an adjusted EBITDA basis in the fourth quarter of 2021.

The New York Times reported earlier in the day that Lyft plans to announce a restructuring that will result in job cuts.

Shares of the company closed down nearly 3% at $46.84.

Lyft said in October its active rider customer base grew to 22.3 million during the third quarter, up 28% from a year earlier.

Rival Uber Technologies Inc. has promised it would achieve adjusted EBITDA profitability by the end of 2021. — Reuters

Finance chief says another lease deal up for review

FINANCE Secretary Carlos G. Dominguez III flagged on Thursday another lease contract that will be up for review, adding to the list of agreements between the state and the private sector that the government found to be disadvantageous.

Mr. Dominguez said in a forum in Makati City yesterday that according to a report from a state-led financial institution, a certain leasing contract was renewed even though the lessor did not put up a structure that had been agreed by the parties.

“Yesterday, there was a report to me by one of our financial institutions that they got into a contract to lease a piece of property so that lessor will put up a certain structure there. That lessor did not put up that structure. And yet the lease was renewed. For a very low rate again,” he told the participants of the forum.

He said he had ordered his staff to look and review all the contracts with that lessor that will expire in April.

However, he said there were no details that can be disclosed yet as the review of the contract is still ongoing.

“You think with this administration, should sit down and say, well that was the way it was done in the past we will go ahead, you forgot the basis of why this admin was elected. We said we wanted to change,” he said.

Last week, Mr. Dominguez bared another contract with alleged “onerous” provision, this time with oil firm Chevron Philippines Inc.’s more than four-decade old lease deal which according to their computations allowed the firm to pay lower-than-market value in rental fees.

“So what I said… we will no longer renew the lease without competitive bidding. And they said: ‘Oh no we don’t want a competitive bidding.’ So I said: ‘In that case, our partnership can be dissolved.’ So we will close the corporation, we will buy you out, we will pay you for the value of the property, for your 40%, right? And then we will bid it out but in a transparent and a public way,” he said.

Through this, he said the public will be able to maximize the taxes they pay instead of “subsidizing” a company “that has been in effect subsidized for 44 years.”

Currently, the government is drafting a revised contract with the two water concessionaires to eliminate the “onerous” provisions that are said to be disadvantageous to the public. — Beatrice M. Laforga

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