...the Filipino Billionaires

Sy siblings top Forbes Philippines richest list 

Iris Gonzales

Philippine Star

27 September 2019

MANILA, Philippines — The second generation of Chinese-Filipino tycoons led by the Sy and Ty siblings, successors of the late taipans Henry Sy and George Ty, made their debut in the 2019 Forbes Philippines Rich list, which saw a dramatic reshuffle in the country’s roster of billionaires after long-time listees passed away since last year. 

The Sy siblings (top row, from left) Harley, Hans, Tessie, (lower, from left) Elizabeth, Henry Jr. and Herbert topped the latest Forbes Asia Philippines’ 50 richest billionaires’ list, with a combined net worth of $17.2 billion.

The October issue of Forbes Asia has a roster of the Philippines’ 50 richest billionaires, with the Sy siblings topping the list with a combined net worth of $17.2 billion, dislodging tycoon Manuel Villar who slipped to second place with a net worth of $6.6 billion.

GMA Network’s Menardo Jimenez filled the 50th spot with a net worth of $130 million.

Davao-based businessman and Duterte pal Dennis Uy also made it to the list for the first time at 22nd place with a net worth of $660 million. So did businessman Antonio Tiu, touted as the country’s next tycoon, with a net worth of $135 million at 49th spot. 

The Sy siblings – Teresita, Elizabeth, Henry Jr., Hans, Herbert and Harley who inherited their fortune from their father Henry Sy Sr., the country’s richest man for the longest time until he died early this year – have a combined net worth of $17.2 billion, according to Forbes.

The Ty siblings – Arthur, Alfred, Alesandra and Anjanette, all of GT Capital – entered the list for the first time at No. 9 with a combined net worth of $2.6 billion. 

“They succeeded their father George Ty, who built GT into a major conglomerate with interests in autos, banking, insurance, power generation and real estate,” Forbes said.

Another new listee and second-generation successors are the Campos siblings – Jocelyn, Joselito and Jeffrey – who debuted at No. 23, replacing their late family matriarch Beatrice Campos of pharmaceutical giant Unilab, with a combined net worth of $650 million.

Jocelyn, the eldest of the three, is now chairman of the company cofounded by their late father Jose Campos.

“The Sy, Ty and Campos siblings are among the six newcomers on the list which also included three self-made entrepreneurs,” Forbes said.

The newcomers are Uy, Tiu and Delfin Wenceslao, who made it to 25th spot with a net worth of $500 million after taking real estate developer D.M. Wenceslao & Associates public in June 2018.
Of the 50 billionaires, 21 listees saw their fortunes go up. 

“They included Manuel Villar, who remains at No. 2 with a net worth of $6.6 billion, John Gokongwei Jr., who retains his No. 3 spot with $5.3 billion, up from $4.4 billion, and Enrique Razon Jr., who rose one position to No. 4 at $5.1 billion, up from $3.9 billion,” Forbes said.

Among the 16 listees who saw their fortunes decline is Jollibee Foods Corp. chairman Tony Tan Caktiong (No. 7), whose net worth was down $850 million to $3 billion. Shares at his fast food chain Jollibee took a hit in July 2019 after announcing the $350-million acquisition of loss-making Coffee Bean & Tea Leaf.

Forbes compiled the list using information from individuals, stock exchanges, analysts, private databases, government agencies and other sources. Net worths were based on stock prices and exchange rates as of the close of markets on Sept. 6. 
Private companies were valued by using financial ratios and other comparisons with similar publicly traded companies.

...the Sumo - Filipino

Japanese-Filipino wrestler wins Autumn Grand Sumo Tournament

ABS-CBN News
26 September 2019

Japanese-Filipino sumo wrestler Hisashi Mitakeumi captured his second top-division title after defeating Takakeisho in a playoff to win the Autumn Grand Sumo Tournament at the Ryogoku Kokugikan Sumo Hall last September 22. 

Photo: japantimes.co.jp

The 26-year old Nagano-native who was born to a Japanese father and a Filipino mother, used a combination of strength and technique to overpower and outmaneuver Takekeisho and secure the title-clinching victory. 

It was his second time to take home the prestigious Emperor's Cup, with his first coming back in July of 2018. 

Currently ranked as sekiwake, the Dewanoumi Stable product now has his sights on reaching the rank of ozeki, the sport's second-highest rank. 

Throughout his five-year sumo career, Mitakeumi has won two major titles as well as multiple Special Prizes for Outstanding Performance, Technique, and Fighting Spirit. 

He now shifts his focus to the Kyushu Grand Sumo Tournament in Fukuoka this coming November. 

...the emerging trade war winners

Asia's emerging economies are winning US-China trade war

Robin Harding
Financial Times
25 September 2019


Asia’s emerging economies have been the big winners from the US-China trade war and they will gain even more if it escalates, according to the latest outlook from the Manila-based Asian Development Bank.

Bangladesh has seized market share in textiles © Bloomberg

Exports from developing Asian countries to the US rose by 10 per cent over the previous year in the first half of 2019, even as exports from China fell by 12 per cent. Exports from Vietnam to the US jumped by 33 per cent and from Bangladesh by 13 per cent.

The report shows how the huge trade diversion effects caused by the US-China tariff war are creating winners and losers as they reshape global supply chains, with Bangladesh seizing market share in textiles and Vietnam in electronics.

“Chinese products are encountering tariff measures so exports and production are slowing down.

Naturally, suppliers connected to these Chinese exports are also slowing down,” said Yasuyuki Sawada, chief economist at the ADB, which lends to developing countries in the region.“But at the same time we see this rather positive channel through trade redirection,” he said, at the launch of an update to the bank’s flagship Asian Development Outlook.The more serious trade tensions get, the bigger the trade redirection effect will become.

In a worst-case scenario, with 30 per cent tariffs on all US-China trade plus an extension of the trade war to automobiles, the ADB expects a drag on overall growth in developing Asia of 0.7 per cent over the next few years. Within that, however, Vietnam’s economy would grow by an additional 2.3 per cent, with Malaysia, Thailand, Bangladesh and the Philippines all coming out as winners too.

 The analysis does not include the impact of uncertainty over trade hurting investment, which could lead to a worse outcome in reality, Mr Sawada noted.For the region as a whole, the ADB trimmed its growth outlook for 2019 from 5.7 per cent to 5.4 per cent, reflecting the global slowdown, trade tensions and a “sharp contraction” in the global electronics cycle — especially for semiconductors.


The ADB cut its growth forecast for Hong Kong from 2.5 per cent to 0.3 per cent, reflecting the slowdown in global trade as well as political turmoil, and lowered its growth forecast for semiconductor-dependent South Korea from 2.5 per cent to 2.1 per cent.

On the other hand, it raised its growth forecast for Bangladesh from 8 per cent to 8.1 per cent, predicting it will be the fastest-growing economy in the region this year and next.

Mr Sawada said that risks to the region included the US-China trade conflict, the deepening growth malaise in advanced economies as well as a build-up of private debt in some emerging Asian economies. “The corporate sector in China and the household sector in Korea, Thailand and Malaysia have had a rising debt-GDP ratio. I think this is another risk,” he said.

...the Pinoy Fighters in World Ratings

44 Pinoy Fighters in World Ratings


Teodoro Medina Reynoso
Philboxing.com
26 September 2019


Aside from the country's five currently reigning world champions led by Senator Manny Pacquiao, a total of forty four more Pinoy fighters are included in the latest rankings of the four major world boxing sanctioning bodies in ten out of eleven weight divisions from minimumweight to welterweight. 

Pacquiao and Nonito Donaire are super champions respectively in the welterweight and bantamweight divisions under the World Boxing Association (WBA) while Jerwin Ancajas and Pedro Taduran are regular champions in the super flyweight and the minimumweight classes respectively under the International Boxing Federation (IBF). Johnriel Casimero presently is the Interim world champion in the bantamweight class under the World Boxing Organization (WBO).

Manny Pacquiao

Nonito Donaire

John Riel Casimero

There are no current Pinoy titleholders in the World Boxing Council (WBC) although Pacquiao at 112, 130 and 135 lbs, Donaire at 118 and 122 lbs and Casimero at 108 and 112 lbs. once reigned as champions under the WBC.

Per sanctioning body, the WBO has the most number of rated Filipino fighters with a total of 22, followed by the IBF with 19, the WBC with 18 and the WBA with just 12.

Many of our top local fighters are in the ratings of more than one boxing bodies.

Highest rated are Robert Paradero, Edward Heno, Geimel Magramo, Michael Dasmarinas and Marlon Tapales who are all the top ranking contenders in the minimumweight (WBO), light flyweight (IBF), flyweight (WBO), bantamweight (IBF) and super bantamweight (WBO), respectively. 

Former champions Donnie Nietes and Vic Saludar are both ranked highest at fourth in super flyweight and minimumweight respectively by the WBC and the WBO while Milan Melindo is ranked ninth at light flyweight by the WBC.

The other Pinoy fighters include the following (highest rated by organization in parenthesis):

Minimumweight- Melvin Jerusalem (#2 WBC), Vic Saludar, Rey Loreto, ArAr Andales, Mark Anthony Barriga, Rene Cuarto, Joey Canoy, Lito Dante, John Marco Rementizo, Jonathan Refugio and Samuel Salva who was erstwhile number one at IBF but was beaten for the vacant title by Taduran.

Again, Paradero is ranked number one by WBO in this division.

Light Flyweight- Jonathan Taconing (#7 WBC), Melindo, Ivan Soriano, Mark Vicelles, Christian Bacolod, Randy Petalcorin and Jaysever Abcede. Christian Araneta was formerly the highest rated after Heno at number three by he was recently defeated in a title eliminator fight in Mexico hence his rating will likely fall.

Edward Heno is rated number one by WBO. at light flyweight.

Flyweight- Rene Baldonado (#8 WBA), Jayson Mama, JR Raquinel, Jobert Alvarez, Genesis Libranza and Alphoe Dagayloan.

Geimel Magramo is highest rated Pinoy flyweight at number one by WBO.

Super Flyweight- Donnie Nietes (#4, WBC and IBF), Aston Palicte, KJ Cataraja, Froilan Saludar and Jade Bornea.

Jerwin Ancajas is current IBF titlist.

Bantamweight- Reymart Gaballo (#4, WBA), Kenny Demecillo and Vincent Astrolabio.

Nonito Donaire is WBA super champion, Johnriel Casimero is interim IBF titlist and Michael Dasmarinas is IBF top and mandatory contender.
Super Bantamweight- Marlon Tapales and Albert Pagara are rated # 1 and 2 by WBO with Jeo Santissima rated sixth. Juan Miguel Elorde who lost in his recent title try fell out.

Featherweight- Former interim titlist Jhack Tepora is rated third by WBA while Mark Magsayo is eighth with WBC. Tapales is also rated at featherweight at #11 in the WBA. Conspicuously absent in the ratings is Genesis Servania.

Super Featherweight- Asian champion Joe Noynay is the lone rated Pinoy at number six with WBO.

Lightweight- Romero Duno is also the only rated Pinoy at number four with WBO.

No Pinoy is world rated at junior welterweight after Jheritz Chavez also fell out.

Manny Pacquiao is the lone Pinoy at welterweight and he holds the WBA super belt in the division.

Who among these rated Pinoy fighters will become world champion is worth watching out for next year.

...the Filipino culture in Lisbon

Filipino culture showcased in Lisbon


Business Mirror
25 September 2019

LISBON—The Philippine Embassy led the monthlong celebration of the 121st anniversary of the Proclamation of Philippine Independence in June at the Terras Sem Sombra, Artes â Solta Festival in Ferreira do Alentejo.

In collaboration with organizers, the embassy and municipality officials, the Philippine Day activity provided an inclusive experience on the richness and vibrancy of Filipino culture through food, music, traditional games and handicrafts. The embassy also took the opportunity to promote various tourist destinations in the Philippines by giving away anahaw-woven fans from Quezon province, dried mangoes from Cebu and 3D holographic destination luggage tags from the Department of Tourism. 

Filipina entrepreneur and Chef Jaymaylyn Galiza Day prepares Filipino-style fried lumpia. Guests also got to sample spicy sisig.

The morning program started in the Ferreira do Alentejo Municipal Garden with a Filipino fiesta setting with kiosk of street food, exhibited and operated by Jaymalyn Galiza Day, a Lisbon-based chef who owns Diplomata catering service. Filipina entrepreneurs and co-owners of GustoKO, Paula Figueras and Queenie Guzman, also showcased a selection of handicraft products.

Figueras and Guzman are recognized as the embassy’s “cultural entrepreneurs” for not only creating economic value to Philippine products, but for also pursuing Filipino culture and heritage.

The afternoon event gave participants an ultimate Filipino eating experience with Filipino favorites, such as pork adobo with rice served in coconut rice bowls, as well as local snacks from Alentejo like ferreirense (cake), chouriço (sausage), as well as traditional cheese and olives.

Visitors enjoy Filipino pork adobo served in coconut rice bowls.

Visitors got to play Filipino traditional games such as sungka, dama and patintero, while Filipino children also enjoyed participating in the traditional Alentejo games like paper kite making, rope jumping, walking with stilts and face painting.

Pundaquit Virtuosi, a 28-member youth string ensemble from San Antonio, Zambales, ended their 2019 European tour with an evening concert before a crowd of 500. It played a diverse repertoire of classical music masterpieces, popular original Pilipino music staples and contemporary standards. 

The show ended with the string ensemble and Portuguese all-male singing group Os Boinas (The Berets) performing the song “Amor Pelo Dois,” the winning Portuguese entry at the 2017 Eurovision singing contest.

Ambassador Celia Anna M. Feria expressed her appreciation to the Municipality of Ferreira do Alentejo and to festival organizers for allowing the embassy to showcase the best of Filipino culture. Members of the Filipino community in Lisbon also came to partake in the festival. 

The Terras Sem Sombra festival is held annually since 2013, bringing music, heritage and biodiversity together. This year’s edition also featured Madrid-based Filipina soprano Aniway “Manila” Adap, who performed a full-concert repertoire at the Igreja Matriz de Sao Vicente in Cuba Alentejo in May.

The Philippines also shared its best practices of biodiversity conservation in April for the “Resist the Invader: The Water Hyacinth and the Guadiana Basin” event in Elvas, Alentejo.

The Philippine Day Activity at Ferreira do Alentejo is a culmination of the Country’s participation in the 2019 Terra Sem Sombra Festival. DFA

..the Asia's friendliest cities

Travel website recognizes Manila, Cebu as among Asia's friendliest cities


Alec Go
Manila Bulletin
25 September 2019

Manila and Cebu ranked 4th and 15th, respectively, in Big 7 Travel’s list which was released recently.

The travel website described Manila residents as “famously welcoming,” and the city a “friendly place to spend some time in.”

Roxas Boulevard, Manila (supplied)

“It’s a place where locals have a buzzing attitude and an eagerness to show off their city to out-of-towners,” the article stated.

Cebu City, on the other hand, was recognized for its “exuberant vibe” and the presence of multiculturalism among its residents.

Ayala Center, Cebu City

Kuala Lumpur, Taipei, and Chiang Mai were the hailed the top three friendliest cities in Asia.

Big 7 Travel said they surveyed their “social audience of 1.5 million” for the list.

There were no specific criteria given to respondents, but factors such as where they felt the most welcome and how easy they navigated the area either with the help of locals or not were considered.

Big 7 Media is a travel website that features content on food, travel, and hotels around the world.

...the PH 3x3 hoopers world ranking

Philippines rises to No. 21 in Fiba 3X3 Men's world ranking


Randolph B. Leongson
Spin.ph
25 September 2019

A SPOT in the Olympic Qualifying Tournament is within reach for the Philippines as it rose to 21st from 25th in the Fiba 3x3 Men's World Rankings.

Philippines 3x3 has amassed 8,156,366 points, putting it in play for the Olympic Qualifyng Tournament (OQT) a month before the October 31 Fiba-imposed deadline.

Pasig Chooks made it to the quarterfinals of the Kaohsiung Challenger on Sunday.

Balanga Chooks is also set to participate in the Jeju Challenger and the 2019 Fiba 3x3 World Tour Jeddah Masters next month as the country's last ditch effort to stay within the top 24.

The three highest-ranked federations will automatically qualify for the Olympics, while host Japan has gained automatic entry.

Twenty teams will compete in the OQT for four slots to the Olympics while the last slot will be disputed in a Universality OQT.

Chooks-to-Go Pilipinas 3x3 league owner Ronald Mascariñas said more 3x3 activities are set in October.  "We just can't wait and leave out fate to chance. We have to continue pushing until our goal is met." said Mascariñas.

...the good neighbor

Singapore keen on bigger investment to Philippines


Bianca Cuaresma
Business Mirror
25 September 2019

Singapore businesses looking for expansion opportunities in the region are highly considering the Philippine market as their choice investment destination, a recent survey showed.

The Singapore Business Federation’s (SBF) recent National Business Survey showed that the Philippines was among the top 10 markets of interest for Singaporean companies looking to expand their business.

“While many Singapore companies have established operations in the Philippines in industries such as manufacturing and infrastructure, there are untapped opportunities in areas such as information technology and digital solutions, which our companies with the capabilities will be able to take up,” SBF Chairman Teo Siong Seng said.

He added that the economic and social progress the Philippines has made, thus far, makes for an attractive and compelling case for Singapore investors.

“Asean remains a bright spot in a cloudy global economy and has abundant opportunities and potential for growth. Singapore and the Philippines have always enjoyed close economic ties,” the SBF chairman said.

In 2018, Singapore was the second-largest investor in the Philippines, and the Philippines’s largest export market among the member-states of the Asean.

Loh Chin Hua, chief executive officer of Keppel Corp. who is also co-chairman of the Philippines-Singapore Business Council, said the company is now exploring ways on how it can expand its investments in the Philippines, especially with the Duterte’s administration’s “Build, Build, Build” infrastructure modernization program now in full swing.

Keppel Corp. is one of Singapore’s largest conglomerates with involvement in the infrastructure sector.

He also noted that among the advantages of doing business in the Philippines is that investors can borrow in the local currency, thus reducing risks and enabling them to get reasonable returns.

“And that is quite a remarkable achievement because not many countries in this region can say that. And when you have to invest abroad but you have to borrow in their currencies, it always increases the risks,” Loh said. “For Keppel, we have operated two shipyards in the Philippines, and we are now looking to see how we can do more here.”

Earlier this month, a delegation of 21 Singapore business leaders from 14 companies joined the business mission organized by the SBF from September 9 to 11 2019. The delegation was led by SBF Chairman Teo Siong Seng.