...the top Asian Film awardees

Nora Aunor, Eddie Garcia win top acting honors at Asian Film Awards

By Bayani San Diego Jr.
Philippine Daily Inquirer

March 18, 2013

Facebook photos. Eugene Domingo (left), Eddie Garcia  and Nora Aunor

MANILA, Philippines—Two Filipino actors, Nora Aunor and Eddie Garcia, won big at the 7th Asian Film Awards (AFA), held at the Grand Hall of the Hong Kong Convention and Exhibition Center in Hong Kong Monday night.
 

Photo grab: wsbtv (Atlanta, Georgia)

The Philippines actress Nora Aunor poses with her trophy after winning the Best Actress Award of her movie "Thy Womb" at the Asian Film Awards as part of the 37th Hong Kong International Film Festival in Hong Kong Monday, March. 18, 2013. (AP Photo/Kin Cheung)

Aunor won for best actress for Brillante Ma. Mendoza’s “Thy Womb”—the same role which earlier won her best actress at the Asia Pacific Screen Awards held in Brisbane, Australia in November.

 

Photo grab: Times Colonist (Canada)

Actor Eddie Garcia of the Philippines raises his trophy after winning the People's Choice Favourite Actor award for his role in the film " Bwakaw ", at the Asian Film Awards in Hong Kong Monday, March 18, 2013. At left is the Hong Kong actress Deanie Ip. (AP Photo/Vincent Yu)

Garcia won for best actor for Jun Robles Lana’s “Bwakaw”—the same role which earlier won him best actor at the Asia Pacific Film Festival held in Macau in December. Garcia also won people’s choice favorite actor for the same film.

Among Aunor’s fellow nominees in the best actress category were South Korea’s Cho Min-soo (“Pieta”), Afghanistan’s Golshifteh Farahani (“The Patience Stone”), Taiwan’s Gwei Lun-Mei (“GF*BF*”) and China’s Hao Lei (“Mystery”).

People’s choice favorite actress went to Min-soo of South Korea.

Also nominated for best actor with Garcia are Taiwan’s Joseph Chang (“GF*BF*”), Hong Kong’s Tony Leung Ka-fai (“Cold War”), China’s Liu Ye (“The Last Supper”) and South Korea’s (“Nameless Gangster: Rules of the Time”).

Last year, two Filipinos brought home trophies from the AFA: Shamaine Centenera-Buencamino won best supporting actress for Loy Arcenas’ “Niño,” while Eugene Domingo won people’s choice favorite actress for Marlon Rivera’s “Ang Babae sa Septic Tank.”

In 2009, Gina Pareño won best supporting actress for Mendoza’s “Serbis” at the AFA.

This year’s jury was headed by Cantopop singer-actor Andy Lau, who was voted last year’s people’s choice favorite actor for “A Simple Life.”

The people’s choice favorite actor and actress categories were decided by an online poll among Netizens.

Apart from Garcia and Aunor, Domingo also attended the AFA as a presenter.

Malaysian actress Michelle Yeoh, who starred in the Oscar-winning film “Crouching Tiger, Hidden Dragon” was honored with the “Excellence in Asian Cinema” award.

 

...the Asia's most popular destination

Philippines dubbed 'Most popular destination in Asia' in Guangzhou, China

 

 

Philippine Information Agency
15 March 2013


 

MANILA, March 15 -- The Philippines was chosen "Most Popular Destination" by Guangzhou Information Times and the Guangzhou International Tourism Fair (GITF) in separate ceremonies held on March 7 in Guangzhou, capital of Guangdong in southern China.

In a press conference/awarding ceremony held at the Nanhu Travel Display Center, the Philippines was presented the "Most Popular Destination in Asia" award by Mr. Li Xinzhang, Vice President of Guangzhou Information Times, a statement from the Department of Foreign Affairs said.

Guangzhou Information Times is a subsidiary of Guangzhou Daily, the most influential news daily in Guangzhou.

Philippine Tourism Undersecretary Daniel G. Corpuz and Consul General to Guangzhou Raly L. Tejada received the award.

An interview by the Information Times and Guangzhou TV followed the ceremony.

The Philippines was also one of the recipients of the "Most Popular Destination" Awards during the Guangzhou International Travel Fair (GITF) Awards Night held at the China Marriott Hotel. The Philippines was the lone recipient from Southeast Asia. The other co-winners include Dubai (United Arab Emirates), Chicago (United States), Korea, Seychelles, Mauritius, Turkey, Sri Lanka, Macau, and Italy.

Consul General Tejada accepted the award on behalf of the Philippines.

The GITF is organized by the Guangdong Provincial Tourism Administration through the Tourism Administration of Guangzhou Municipality in cooperation with Hannover Milano Fairs Shanghai Ltd..

Held every year in Guangzhou, Guangdong, China, the GITF has been recognized as one of the most significant annual international travel fairs in the Asia-Pacific Region for its extensive influence upon the tourism industry and related industries.

The Philippine Consulate General in Guangzhou issued a total of 59,861 visas to Southern Chinese visitors to the Philippines in 2012.

The Philippines continues to hold a strong appeal to the Chinese market as the Consulate General posted an increase of 6.45% in visa issuance for January 2013 over the same period last year. (DFA)

...the global gambling elite league

Philippines opens bid to join global gambling elite

 

Agence France-Presse

03/13/2013

 

 

MANILA - The Philippines makes its biggest bet this weekend in a high-stakes bid to join the world's elite gaming destinations, with the launch of a $1.2-billion casino on Manila Bay.

Solaire Manila

 

Solaire Manila Resorts is the first of four enormous entertainment venues slated to rise over a giant chunk of prime, reclaimed land that industry and government leaders expect will attract millions of cashed-up Asian tourists.

"What Solaire brings is an entertainment and gaming experience that doesn't exist in the Philippines today," its American chief operating officer, Michael French, told AFP in an interview this week ahead of Saturday's opening.

"It will be like going to Las Vegas. This raises the scale, the excitement and the... glamour."

Controlled by billionaire Philippine port operator Enrique Razon, Solaire has 300 gaming tables, 1,200 slot machines and seven restaurants. The building also has 500 hotel rooms and 2,000 parking slots.

It features glass ceilings filtering abundant tropical sunlight, huge chandeliers, thick red-themed carpets, blown glass wall-to-ceiling panels, water pools and an army of cocktail waitresses in tiny red dresses.

Another wing is being built to add 300 all-suite hotel rooms, 30-40 high-end shops and a theater where French plans to host travelling Broadway shows as well as local and foreign lounge acts.

Meanwhile, preparations are underway for the launch of the three other big-ticket casinos, which all involve major foreign backers. The four will together make up "Entertainment City", located near Manila's airport.

Entertainment City

The Belle Grande -- a joint venture with the Philippines' richest man, Henry Sy, Australian billionaire James Packer and Macau gaming tycoon Lawrence Ho -- is slated to open next year, with its golden facade already having been built.

Japanese gambling magnate Kazuo Okada and Malaysia's Genting Group are involved in the other two, each in partnership with local Chinese-Filipino tycoons. Both are expected to open between 2015 and 2017.

Cristino Naguiat, head of state regulator Philippine Amusement and Gaming Corp, told AFP he expected Philippine gaming revenues to double this year to $2 billion because of the Solaire opening.

When all four are open, Entertainment City is expected to boost the country's annual gaming revenues up to $10 billion, he said.

The nation's existing gambling revenues come from 13 relatively small casinos around the country run by Pagcor, the gaming regulator, and a bigger one in Manila run by Genting and a Filipino tycoon that opened in 2009.

While Macau counts $38 billion in annual revenues, Naguiat is confident the Philippines will eventually have one of the biggest gambling industries in the world, comparing it with the Las Vegas strip's roughly $6-billion turnover.

"We will beat Las Vegas. I'm pretty sure of that," he said.

Naguiat said the casinos were mainly targeting gamblers from Asia, pointing out that Manila was a mere 3-4 hours away by plane from from any point in China, Japan and South Korea, where many of the world's high rollers live.

"Actually it's a no-brainer. The big market is here in Asia," he said.

Naguiat said that to make it easier for the foreign gamblers, a skyway roadlink to Manila airport is due to open in two years that will allow them to avoid the city's notorious gridlock and reach Entertainment City in just five minutes.

The government has further sweetened the offer by taking just 27 percent in taxes off winnings for normal gamblers, compared with Macau's 40 percent, according to Naguiat.

High rollers have it even better, with winnings taxed at just 15 percent.

Naguiat said he saw Entertainment City as the key to the government's ambitious bid to attract 10 million tourists a year and create more jobs in a country where a fourth of the workforce is unemployed or underemployed.

About 4.6 million tourists visited the country last year, compared with about 14 million for Singapore and 28 million for Macau.

He said Entertainment City should easily employ 40,000 Filipinos when all four venues are open.
More than 50,000 Filipinos, some of them among nine million working in other countries, applied for 4,500 Solaire jobs last year, according to French.

About 400 Filipino expatriates were brought back, including Filipino dealers and pit bosses from casinos in Macau and Singapore who were given managerial posts.

Others were chefs and hotel staff, including more than 20 from the Emirates Palace of Abu Dhabi, touted as the world's most opulent hotel.

However, the casinos are stirring controversy in the mainly Roman Catholic nation, with critics saying the government's embrace of gambling to solve the country's financial woes is a dangerous signal.

"It gives false hope to people that they can find solutions to their financial problems by gambling," Catholic priest Rolly Flores, whose Our Lady of Sorrows church lies three kilometers away, told AFP.

"Only gambling lords thrive when people lose money by gambling."

 

...the growing PH gaming industry

PH gaming seen to surpass Singapore’s

Big population, spillover of VIPs to fuel growth

 

By Doris C. Dumlao
Philippine Daily Inquirer

Thursday, February 28th, 2013

The Philippines’ burgeoning gaming industry may surpass Singapore’s $5.6-billion gaming market by 2018 on the back of favorable local demographics and a likely spillover of foreign high-rollers, foreign bank Credit Suisse said.

In a new equity research dated Feb. 27, Credit Suisse initiated coverage on the Philippine gaming sector with a rosy outlook of a 28-percent compounded annual growth rate (CAGR) for the industry over the 2012-2018 period. The bank’s outlook, however, was less aggressive compared to the state-owned Philippine Amusement and Gaming Corp.’s goal of attaining $10 billion in annual gaming revenues by 2017.

“We view the Philippines as having a potentially larger domestic market in the high-margin mass segment compared to other Asian gaming hubs on the back of favorable demographics,” the report said, noting that the Philippine population of 97 million was almost thrice that of Singapore, Malaysia and Macau combined.

Credit Suisse pointed out that the Philippines also had the fastest growing working-age population in emerging Asia, projected to grow by more than 2 percent annually over the next 10 years. Accelerating wage growth, signs of increased spending power and consumer confidence at near-record highs all pointed to favorable demand prospects, the research said.

It also noted that limited hotel capacity and the absence of new casinos elsewhere in the region until 2015 could result in a spillover of foreign VIPs (very important persons) into local shores.

Overall, the research sees a longer sustained growth for the Philippines compared to Singapore due to stronger junket participation and a protracted novelty effect.

“Note that the VIP market in Singapore is primarily in-house, heavily reliant on credit directly extended by the casino to VIP clients. We believe that this reliance on the in-house/direct VIP segment stems from the difficult operating environment for junkets in Singapore. As a result, Singapore casinos bear the brunt of the credit risk in running the VIP business, as opposed to sharing the risk with junket operators,” the research said.

“We believe that Philippine casinos will be able to draw stronger participation from junkets—and consequently provide a more stable supply of credit to VIP clients—as lower tax rates in the country will allow for higher commissions to be paid to junket operators. Moreover, based on our channel checks, the regulatory environment in the Philippines appears much more conducive to junket operations as compared to Singapore,” it said.

Given this gaming outlook, Credit Suisse initiated coverage on two listed gaming stocks, Bloomberry Resorts Corp. and Belle Corp., with “outperform” ratings and target prices of P17.50 and P6.50, respectively.

Credit Suisse projected a strong earnings CAGR of 38 percent for Bloomberry and 68 percent for Belle from 2013 through 2016, much like in the early years of Singapore casinos. The implied price-to-equity ratio for both stocks (2014 P/E multiple of 20x for Bloomberry and 30.8x for Belle) are below the 33.3x pre-operating P/E of Genting Singapore Plc, which the research said provided a better benchmark than more mature regional peers.

A P/E ratio of 20x means that investors are paying 20 times the amount of money they are expected to make for that year.

In the near- to medium-term, the research said the growth in Philippine gaming would be driven by the increase in capacity, with new casinos coming on stream through 2016. Bloomberry’s Solaire is expected to open by March this year while Belle Grande, a partnership between the SM group and Macau’s Melco Crown, is expected to open in the first half of 2014.

Credit Suisse said Bloomberry and Belle could start enjoying positive free cash flow by 2014 and attain a net cash position by 2015.

“We expect Philippine casinos to exhibit higher profitability than regional peers in non-Macau Asia on the back of a more favorable cost structure,” the report said. Although tax rates on gaming revenues are lower in Singapore than in the Philippines, the report noted that Singapore casinos are also taxed at the bottom-line whereas gaming profits of Philippine casinos are not, while Malaysia casinos are likewise taxed at the bottomline, on top of having a higher effective tax rate on gaming revenues compared to the Philippines.

 

 

...the Asia's top restos

Top 20 restaurants in Asia: The Miele Guide

 

AFP Relax

23 January 2013

 

L’Atelier de Joel Robuchon Hong Kong, China

 

Thousands of foodies cast their votes and gave top nods to French chef Joel Robuchon’s Robuchon au Dome in Macau, naming it the top dining destination in Asia.

 

In The Miele Guide’s 5th annual Asia’s Top 20 Restaurants, Robuchon au Dôme took the top spot, knocking perennial favorite Iggy’s in Singapore off its perch.

The win follows an extensive facelift and name change last year. As Robuchon a Galera, the restaurant was “old and anachronous,” says Miele. Today, Dôme is “chic, classy, modern and surprisingly casual.”

Hong Kong and Singapore lead the listings, meanwhile, each boasting five restaurants in the top 20 ranking. Dining destinations in Shanghai, Bali, Seoul, Tokyo, New Delhi and Chennai, India also get nods.

Here are the top 20 restaurants in Asia, according to voters in "The Miele Guide 2013":

1. Robuchon au Dôme, Macau
2. Waku Ghin, Singapore
3. L’Atelier de Joel Robuchon, Hong Kong
4. Iggy’s, Singapore
5. Mozaic, Bali
6. Pierre Gagnaire à Seoul, Seoul
7. Caprice, Hong Kong
8. Amber, Hong Kong
9. 81 /2 Otto e Mezzo Bombana, Singapore
10. Les Amis, Singapore
11. Restaurant Andre, Singapore
12. Tippling Club, Bali
13. Sarong, Shanghai
14. Mr & Mrs Bund, Shanghai
15. One Harbour Road, Hong Kong
16. Dakshin, Chennai, India
17. Antonio’s, Cavite, Philippines
18. Nihon Ryori RyuGin, Tokyo
19. Metis Restaurant and Gallery, Bali
20. Bukhara, New Delhi

...the Asia-Pacific best actor

Eddie Garcia wins best actor at Asia Pacific fest

By Bayani San Diego Jr.
Philippine Daily Inquirer

December 17, 2012

Eddie Garcia

Filipino actor Eddie Garcia won best actor for Jun Robles Lana’s “Bwakaw” at the 55th Asia Pacific Film Festival held at the Venetian Resort Hotel in Macau on Saturday.

The screen legend received a standing ovation from the foreign audience on winning his first international acting award at age 83, according to his wife Lilibeth who attended the festival with him.

The report reached the Philippine Daily Inquirer through line producer Tonee Acejo and producer Ferdinand Lapuz, who were told about the victory by Garcia’s wife.

Garcia was one of 10 actors honored by the Inquirer at the 3rd Indie Bravo! Tribute held at the newspaper’s office in Makati last Monday.

“Eddie Garcia’s staying power in the industry is primarily due to real talent, hard work and professionalism. Today’s young stars have a lot to learn from him,” director Lana, one of 10 filmmakers in the 3rd Indie Bravo! honor roll, told the Inquirer.

Garcia, who arrived in Manila Sunday, said he was happy for the international recognition, no matter how long it took.

“I don’t really mind the long wait. I’ve always believed—if it comes, thank you; if not, I’ll be fine too. As I always say, it’s a nice bonus for a job well done.”

He said the recognition was sweeter because it came “from peers from all over Asia.”

Garcia is the only Filipino actor elevated to the Famas Hall of Fame for his achievements as a supporting actor, actor and director.

Another Filipino, Nora Aunor, was nominated for best actress in this year’s Asia Pacific fest for Brillante Ma. Mendoza’s “Thy Womb.” The prize went to Taiwan’s Gwai Lun-mei for “Gf*Bf.”

The other awards were: best film, Johnnie To’s “Life Without Principle” of Hong Kong; best director, Hirokazu Koreeda’s “I Wish” of Japan; best supporting actor, Hoi-pang Lo for “Life Without Principle,” and best supporting actress, Makiko Watanabe for “Capturing Dad” of Japan.

Garcia said one of the earlier films he directed, 1963’s “Historia de un Amor,” was entered in the Asia Film Festival by its producer, Sampaguita Pictures. “Mga Anak sa Pagkakasala,” a 1962 Sampaguita drama that he directed, was also entered in the Cairo film fest, he said.

“Unfortunately, we were not able to provide subtitles for Mga Anak sa Pagkakasala. The foreigners didn’t understand the movie,” he recalled.

According to online reports, the Asia Pacific Film Festival (then called Asia Film Festival) was the same event where National Artist Lamberto Avellana’s “Anak Dalita” won for best picture in 1956. In the same year, two other Filipinos won—Gregorio Fernandez was best director and Rogelio de la Rosa was best actor, both for “Higit sa Lahat.”

Other Filipinos who topped the Asia Film Fest in the past were Avellana as best director, with his team bringing home individual citations for “Badjao” in 1957; Rebecca del Rio as best supporting actress for “Malvarosa” in 1958; Leroy Salvador as best supporting actor for “Biyaya ng Lupa” in 1960; Charito Solis as best actress for “Dahil sa Isang Bulaklak” in 1967, and Charo Santos as best actress and Mike de Leon as best director for “Itim” in 1978.

“Bwakaw” was chosen by the Film Academy of the Philippines as the country’s entry to the best foreign language film category of the Academy Awards to be held in Hollywood next year.

“It would be great to be chosen among the top five, but my only hope is that the Oscars people will have the chance to see our film,” Garcia said.

...the future key player in gaming

Pagcor chief sees Philippines as key player in int’l gaming in few years

By Doris C. Dumlao
Philippine Daily Inquirer

Wednesday, October 24th, 2012

Belle Grande, one of four integrated resorts in Entertainment City, is taking shape along Roxas Boulevard. PHOTO BY RICK ALBERTO

MANILA, Philippines—The head of the of the state-owned Philippine Amusement Gaming Corp. (Pagcor) sees the country becoming a key player in international gaming, accounting for up to a tenth of the global gaming market in a few years.

In a statement that reported on the highlights of a recent regional forum, Pagcor chairman Cristino Naguiat Jr. said that “compared to Las Vegas, Macau and Singapore, the Philippine gaming industry has a long way to go in terms of revenue potential.”

“With the right blend of private sector investment, regulatory maturity and improvements in tourism infrastructure, we believe that a 10 percent slice of the world’s gaming pie in a few years’ time is an achievable target,” he said.

Naguiat said the country’s growing potential as the region’s next best bet for tourism and gaming was given prominence during an international forum attended by the Association of Southeast Asian Nations Finance Ministers and members of the international investing community.

“The breakout session on tourism and gaming during the 9th ASEAN Finance Ministers’ Investor Seminar (AFMIS) was well attended by fund managers, stock brokers, stock market analysts, and representatives of financial institutions. This indicates the high interest of international investors on tourism—specifically gaming—as one of the main engines for growth in the Philippines,” said Naguiat.

The Philippines recently hosted the AFMIS at the Island Shangri-La Hotel in Hong Kong where Naguiat was invited as one of the panelists during the breakout sessions. The forum was sponsored by HSBC, Standard Chartered Bank, UBS and Bloomberg.

The forum promoted the region as an investment haven. Among the highlighted Asian growth drivers are tourism and gaming, resources and energy, real estate, infrastructure, and consumer and retail.

Aside from Naguiat, the breakout session panel for tourism and gaming also included Lloyd Nathan, CEO of Asian Coast Development Ltd., which is developing the MGM Integrated Resort in Ho Tram, Vietnam; Aireen Omar, CEO of AirAsia Berhad; Dato Lee Choong Yan, president and COO Of Genting Malaysia Berhad; and Kingson Sian, president of Travellers International Hotel Group, which operates Resorts World Manila.

“That forum gave us a chance to present to the members of the investing community the growth areas in the Philippines. One of them is gaming, which is growing in acceptance as an important element of tourism. In fact, even our Department of Tourism has included it as a core product under leisure and entertainment,” Naguiat said.

The Pagcor chief said that in his presentation during the breakout session, he talked about the gaming landscape in the Philippines, its growth potential, the country’s rich tourist attractions and its strategic location to main markets.

“On the macro level, the Asia-Pacific is in exciting times for global travel. The Philippines is geographically gifted with respect to distances to the region’s most prolific travelers. And based on statistics, the country is being visited mainly for leisure and entertainment,” Naguiat said.

Travellers’ Sian supported Pagcor’s proposition, noting that based on his company’s experience in Resorts World Manila, “we are optimistic that we would do even better with the second property (in Entertainment City). This is the reason why we are already planning for the Resorts World Bayshore project.”

Four integrated resorts are being built by Pagcor together with four private proponents in the 100-hectare Entertainment City project. The resorts are expected to provide 5,000 hotel rooms that can accommodate up to a million tourists annually and also offer over a million square meters of shopping, gaming, hotel and entertainment.

“At full development, Entertainment City is expected to have the capacity to deliver up to US$10 billion annually in gaming revenues, as well as generate over 400,000 direct and indirect jobs. We are highly enthusiastic about this project and the impact that it will have on Philippine tourism,” Naguiat said.

Naguiat was asked during the forum if local players would be allowed to play in Entertainment City following the Singapore model. “We cannot prevent them from going there. We do not want to deprive them of the chance to see and experience the world-class entertainment that the integrated resorts will provide. However, we will make sure that regulation will be in place,” he said.

Only the Philippines and Vietnam have integrated resort projects in the pipeline among Southeast Asian nations, he added

...the Azkal's FIFA ranking

FIFA Rankings: Azkals move up to 147 in the world, 21st in Asia

 

October 3, 2012

GMA News

 

 

The Philippine Azkals moved up to 147 in the world with 178 points, in the latest FIFA rankings released Wednesday, October 3, buoyed by a month where they won four matches.

Thanks to a win in a friendly against Singapore, and a sweep of the Peace Cup, versus Guam, Macau and Chinese-Taipei, the Azkals moved up three places from last month, and are now 21st in Asia.

Globally, the Philippines is tied with Kazakhstan, which tumbled down five places, with both countries a point shy of Cuba, ranked 146th, with 179 points.

Up next for the Azkals is a trio of friendlies against Bahrain (115 globally, 15th in Asia), Kuwait (112 globally, 13th in Asia) and Singapore (168 globally, 28th in Asia) once more, in preparation for November's Suzuki Cup.

Tops in Asia are Japan (23 globally), South Korea (25 globally), and Australia (34 globally). - AMD, GMA News

...the first win in 99 years!

Philippine Azkals seal historic win in Peace Cup

 

By Dennis Gasgonia,

ABS-CBNnews.com

09/29/2012

 

MANILA, Philippines – The Philippine Azkals won its first international title in 99 years by crushing Chinese Taipei to take home the Philippine Football Peace Cup.

 

The Philippines brought down Chinese Taipei, 3 goals to 1, at the Rizal Memorial Stadium in Manila on Saturday.

Filipino-German Denis Wolf drew first blood against the Taiwanese squad in the 10th minute.

Wolf picked up Carli de Murga's deflected shot and turned it into the Philippines' first goal against Chinese Taipei.

In the 34th minute, Caligdong intercepted the ball from the Taiwanese and mounted a counterattack via a long range shot to make it 2-nil for the Azkals.

The “Chief” ran near the stands and pulled up his shirt to show another shirt that says "Jesus loves us."

OJ Porteria, meanwhile, scored his first international goal for the Philippines by cutting a pass between Taiwanese players in the 43rd minute.

Porteria ran toward the goal box and eluded the keeper to push the Philippines further ahead, 3-0.

Porteria happily launched into a "Gangnam Style" dance following the score.

In the second half, it was Chinese Taipei’s turn to score.

Chang Han slid in the shot past Filipino keeper Eduard Sacapano in the 52nd minute to make it 3-1.

The game was halted for a few minutes in the 2nd half following a slight contact between a Taiwanese player and Demetrious Omphroy, which sparked a commotion at the Chinese Taipei bench.

The Chinese Taipei head of delegation berated a referee for the alleged questionable officiating. This prompted the game official to dismiss the individual from the game.

The head of delegation, however, refused to leave the pitch, causing several minutes of delay in the game.

He eventually went to the stands after he was convinced by the match officials.

Chinese Taipei seemed to gain steam after the incident as they gained a free kick and chances in the72nd and the 82nd minutes, respectively.

The Taiwanese squad nearly scored another goal against the Azkals via a penalty kick off a foul by Jason de Jong.

Fortunately, Sacapano did what was perhaps the most spectacular save in the tournament by successfully clearing Yang Chao Hsun’s penalty kick.

With the win, the Azkals maintained its unbeaten status in the Philippine Football Peace Cup.

Prior to their victory over Chinese Taipei, the Filipinos first defeated Guam, then followed it up with another win over Macau.

The tournament win is also a historical feat for the Philippines, which last won an international football competition in the 1913 Far East Games.

...the hopeful FIBA Asia host

Phl looms best bet to host FIBA Asia By Nelson Beltran The Philippine Star September 19, 2012

TOKYO – The Philippines has emerged as having the best chance to host the 2013 FIBA Asia Championship.

Talks making the rounds on the eve of the FIBA Asia executive board meeting Wednesday were favorable for the Philippines which is bidding to host the biennial regional event for the first time in four decades.

For one, Iran, another serious bidder, has conceded the Philippines would earn the rights to host the Asian meet with the Tehran Times already reporting on Tuesday that the event will be held in Manila.

China hinted at making a bid in the last minute, but it is unlikely to get the nod of the FIBA Asia board, having hosted the last two editions (in Tianjin in 2009 and in Wuhan in 2011) of the event.

Qatar has reportedly dropped its plan to join the bidding presentation set during the FIBA Asia executive board meeting at the International Convention Center of Grand Prince New Takanawa Hotel at 4 p.m. Wednesday.

At the start of the knock out stage Thursday, the Philippines plays Chinese Taipei which placed third in Group B following a 75-73 squeaker over Qatar.

Samahang Basketbol ng Pilipinas is determined to make good impression that it is sending a high-powered cast of Filipino cage officials in the meeting.

SBP executive director Sonny Barrios will make a presentation on behalf of the Philippine federation which intends to bring the event at the brand-new SM MOA Arena as the main venue and the Ninoy Aquino Stadium as the second venue.

 

SBP president Manny V. Pangilinan will also attend the meeting with PBA officials, led by commissioner Chito Salud and board chairman Robert Non, lending their presence on the sideline to show full backing on the Philippine bid.

The Philippines has never played host to this event since the 1973 meet which the country ruled with a team including Robert Jaworski, Mon Fernandez and Bogs Adornado among others. The event was still then called ABC (Asian Basketball Confederation) Championship.

The other only huge FIBA event the country hosted since then was the 1978 World Championship at the Araneta Coliseum.

In 2010, the SBP showcased the Philsports Arena in hosting the FIBA Asia Champions Cup.

The latest significant move done by the SBP was inviting FIBA Asia secretary general Hagop Khajirian to inspect the SM MOA Arena a few weeks back.

Khajirian told SBP officials then that, for him, SM MOA Arena “is more than acceptable as primary venue of the FIBA Asia Championship.”

The FIBA Asia leadership includes president Sheikh Saud Bin Ali Al-Thani from Qatar, chairman Xin Lancheng from China, first vice president Adel Al Assomi from Bahrain, second vice president Yushi Samuro from Japan, treasurer Quek Hiang Chiang from Singapore, assistant sec-gen Mahmoud Mashhoun from Iran and women’s representative Noviantika Nasution from Indonesia.

Meanwhile, defending champion Lebanon and reigning FIBA Asia titlist China rolled past Uzbekistan and Macau, respectively, to catch up with Smart Gilas Pilipinas at 3-1 at the close of the fourth FIBA Asia Cup group plays at the Ota Gymnasium.

The Lebanese blasted the Uzbeks, 84-49, while the Chinese ripped their Macau neighbors, 84-49.

Lebanon, the Philippines and China finished on that order following the application of the quotient tiebreak system. Uzbekistan was the fourth quarters qualifier from Group A.


UPDATE: Lebanon beats Philippines as FIBA hosts
http://www.philstar.com/sportsarticle.aspx?publicationsubcategoryid=69&articleid=850815&keyword=sp_pba

...the boat builder's paradise

Australian boat builder transfers manufacturing center to PH

By: Paolo G. Montecillo
Philippine Daily Inquirer

Thursday, July 26th, 2012

 

Australian military and commercial boat builder Austal has chosen the Philippines as the future center of its global manufacturing operations, taking advantage of competitive labor costs that do not sacrifice the quality of work.

The company, which leads globally in the production of high-speed catamarans, said it would soon start exporting state-of-the-art vessels out of its newly acquired facility in Balamban, Cebu.

“It has become uncompetitive for us to build these ships in Australia. It’s our intention to systematically and progressively transfer the technology from Australia into the Philippines so it is our center of excellence for all things commercial,” Austal CEO Andrew Bellamy said in a recent interview.

The Balamban shipyard is the company’s third location.

“We chose the Philippines because of its high level of growth, the English-speaking population that has the right skill set and work ethic, and the country’s location is also an obvious take-off point for our Asian-centric expansion,” Bellamy said.

The company’s oldest facility is in Perth, Australia, where the bulk of commercial vessels are made.

Among the notable ships the company has delivered are the passenger ferries used for trips between the Chinese cities of Macau and Hong Kong.

The company also has car and passenger vessels operating inter-island routes in Greece.

Austal’s second location is in Mobile, Alabama, by the Gulf of Mexico. The United States shipyard focuses on ships for defense. The company has been building warships for the US Navy since 2006.

The company specializes in catamarans and “trimarans,” which have several thin hulls that are able to cope with rough sea conditions.

The company has about 200 employees working in Balamban, with a firm plan to hire 150 more people.

Being built in Balamban today is a 27-meter three-hull trimaran—the first of its kind Austal has ever built—that will be used by wind-farm operators in Europe.

Bellamy said the Balamban facility, which the company bought from the Aboitiz group for $8 million last year, could end up employing thousands of employees, if demand stays strong.

“This is about building a long-term manufacturing capability in the Philippines that will be industry-leading and sustainable,” Bellamy said.

...the PH franchise industry

PH franchising industry 3rd in world for jobs created

by Ira Pedrasa,

ABS-CBNnews.com

07/12/2012

 

 

MANILA, Philippines - Franchisers in the Philippines urged the government to provide them tax incentives and subsidies so they can grow faster.

 

The Philippine Franchisers Association (PFA) noted that their counterparts abroad are able to compete because they are supported by their governments.

PFA President Elizabeth Pardo-Orbeta said, while franchisers in countries like Malaysia and Macau are heavily subsidized by their governments, the local franchise industry is not getting any type of support at all.

Orbeta said they floated the idea of giving tax incentives and subsidies to participation in international expos for franchisers to the government years back.

“We should be growing a lot faster if we are getting support from the government. We believe that franchising is still the best way for us to grow our economy,” she said at the media launch of the Franchise Asia Philippines (FAP) 2012 slated from July 25 to 29 at the SMX Convention Center.

The industry, on its own, managed to increase its revenues from $3.04 billion in 2000 to an estimated $11 billion in 2011. The Philippine franchising industry ranks 10th in the world in terms of revenues.

The local franchising industry now provides about 1.1 million jobs and ranks 3rd globally next to the United States and Japan.

The Philippines currently has about 1,300 franchise concepts, with 124,000 total franchisees, the 4th best in the world.

Charito Estrada, PFA executive director, said the industry is growing at an average pace of 30 percent annually, and this can be matched this year based on the pronouncements of the franchisers.

“You can hear our members, they are all bullish and are talking about expansion so I believe this will be another good year,” Estrada said.

Lin Deres, Goldilocks franchise relations head, said the Philippines should emulate other countries that offer good incentives to their franchisers, including subsidies to trips abroad when they participate in expos and develop new markets.

“We need incentives to grow, especially those who are just starting up,” Deres said.

Samie Lim, PFA co-founder, said there are at least 30 key countries that Filipino franchisers can go initially if they want to make their way into the different regions, including South Africa for the African continent.

“We can use them as gateways to their regions as much as they are using the Philippines as gateway to our region,” Lim said.

...the asian motocross

PH finishes third in Asian moto

The Philippine Star

07/04/2012

 

 

MANILA, Philippines - Mark Reggie Flores turned in a second overall finish in the Asian Junior 85cc category while Kenneth San Andres salvaged sixth place in the Pro 125 category as Team NAMSSA-Philippines finished third in the Asian Nations Cup of the FIM Asia Motocross Supercross Championship in Ulaanbaatar, Mongolia recently.

 

The Phl took the second runner-up honors behind champion Thailand and runner-up Japan based on the placings of Flores and San Andres in Round 2 of the Asian series. The competition is decided by the aggregate scores of riders from the participating countries in various categories.

Flores finished second overall in the Asian Junior 85cc category to currently lead the series with 94 points after two rounds, leading his Round 2 conqueror Mongolian hotshot Munkhbolar Khishigmunk, who has 80 points.

The 13-year-old San Pablo City pride Flores ruled the series’ opener last April in Puerto Princesa, Palawan.

San Andres got slowed down by mechanical problems and settled for sixth in the Pro 125 category of the Asian event, topped by Thailand’s Arnon Theplib.

The event drew riders from Mongolia, the Philippines, Thailand, Japan, Guam, China, Korea, United Arab Emirates, Australia, Sri Lanka, Malaysia, India, Saipan, Macau, New Zealand, Singapore and Iran, competing in the categories of 85 cc, 125/MX2 and veterans class.

San Andres, who is backed by Oakley, Bridgestone Tires, Polisport, FOX, Go Pro, HJC Helmets, Auto Plus, Motul Philippines, Bike Plus, Inside Racing, Starting Line Magazine, EZ Trailer, JBS Motorcycle Shop and GCG Pipe, was coming off a twinkill in the 2012 Philippine Olympic Committee-Philippine Sports Commission National Games, where he crushed the challenge of veteran Jovie Saulog (second) and rising star Jerrick Mitra in both the motos of the Pro 125.

Flores matched the double win with victories in the Junior 85 cc over Gabriel Macaso and Radzie Kallahal.

---

...the fastfood international expansion

Philippine fast-food giant Jollibee steps up expansion in China

 

By Doris C. Dumlao

Manila/Philippine Daily Inquirer

Asia News Network 

12 March 2012

 

 

Manila (Philippine Daily Inquirer/ANN) - Philippine fast-food giant Jollibee Foods Corp. further expanded its business in mainland China with the completion of its purchase of a 55-per cent interest in a company operating San Pin Wang, a chain of 34 restaurants selling low-priced beef noodles.

JFC, through wholly owned subsidiary Jollibee Worldwide Pte. Ltd. (JWPL), signed in 2010 an agreement with Guangxi Zong Kai Food and Beverage Investment Co. Ltd. (GZK) to acquire a majority stake in San Pin Wang.

This is JFC's third fast-food chain in China.

The Philippine fast-food group will spend RMB30 million ($4.75 million) to acquire the 55-percent stake from Guanxi, which will remain a strategic partner with a 45-percent interest. JWPL and Guanxi have committed to invest additional 20 million yuan ($3.16 million) in San Pin Wang to fuel its expansion.

San Pin Wang is a noodle fast-food chain with most of its restaurants located in Nanning City in Guang Xi Province in South China.

The two other restaurant businesses operated by JFC in China are Shanghai-based Yonghe King and Beijing-based Hong Zhuang Yuan, which were bought in 2004 and 2008, respectively. As of January this year, the two overseas businesses had a combined network of 319 stores in China accounting for 11 per cent of JFC's worldwide sales.

JFC also has a 70 per cent interest in Jollibee Foods Processing Pte. Ltd., a commissary in Shucheng, Anhui Province.

JFC currently operates 2,466 stores worldwide, of which 1,997 are in the Philippines. The brands in its portfolio are Jollibee, Chowking, Greenwich, Red Ribbon, Mang Inasal and Burger King.

In January, Jollibee through JWPL has consummated a deal to buy into a regional food group that operates a chain of restaurants across Asia. The group acquired 50 per cent of the business of SuperFoods Group, consisting of a 49-per cent stake in Viet Nam-based SF Vung Tau Joint Stock Co. and a 60-per cent share in Hong Kong-based Blue Sky Holding Ltd.

The SuperFoods group, which has $30 million in annual sales, operates 56 Highlands Coffee stores in Viet Nam. Its Pho24 chain of Vietnamese restaurants has 48 stores in Viet Nam, 11 in Indonesia, four in Hong Kong, three in Japan, one in Cambodia and two in the Philippines. It likewise has Hard Rock Cafe-franchised stores in Macau, Hong Kong and Viet Nam.

...the market to watch

Philippines: The market to watch

By: Den Somera
Philippine Daily Inquirer

Tuesday, March 6th, 2012

The Philippines is a highly mineralized country. It is increasingly attracting foreign investments that could lead to more economic growth and development.

Likewise, due to its good sun, beautiful mountains and seashores, along with its distinctive brand of hospitality—coupled with the presence of new property venues—the Philippines is poised to be a top contender not only for rest and leisure but as a travel destination for games and amusements, more particularly “gaming.”

The Philippines still has to clarify its policy on the mining industry, but the government has—fortunately—readily opened its options in the gaming business as another strategy for development.

Based on the market study published by Citibank’s Citigroup Global Markets Inc. dated February 8, it said that “South and Central Asia are home to four billion people where gaming demand is underserved by just 200 licensed venues (versus 1,600 and 1,200 in North America and Europe, respectively).”

The report further cites the Philippines as one of the four “frontier markets” that is poised to take on the “burgeoning opportunities” presented by the “underserviced” gaming business in the Asian region.

The three other frontier markets particularly cited to vie as well as pose some challenge to the Philippines would be Cambodia, Vietnam and Sri Lanka.

In contention is Naga Corp. (listed), which “has a license to operate casinos in Cambodia with the exclusive right to operate within a 200-kilometer radius of Phnom Penh (called Designated Area).” In addition to its already installed facilities, it recently built an additional 220-room tower that has been partially opened “to cater to the Vietnam bus market.” The company will also establish sales offices in Ho Chi Minh City (Vietnam) and Bangkok (Thailand) to capture business overflows, which “represent the greatest growth markets” of the company, according to the study.

In place for operation in early 2013 in Vietnam is the “MGM Ho Tram project of Asian Coast Development of Canada (unlisted),” of which Pinnacle Entertainment Inc. of the United States has a 26-percent equity stake. It has an “Investment Certificate from the Government of Vietnam that is given the right to develop five large-scale integrated entertainment centers in Ho Tram, situated some 127 kilometers from Ho Chi Minh City on a 164-hectare beach front fringing the South China Sea.”

Initially starting with a 540-hotel room, 90 tables and 1,000 slots, MGM Ho Tram has a “13,000-square-meter entertainment area, retail, restaurants, bars, lounges, shows conference and meeting areas, an 18-hole Greg Norman-designed golf course, and other leisure amenities.”

Taking steps “to pursue future gaming opportunities in Sri Lanka and at the same time capture the market overflows in the Indian border is Delta Corp.” (India listed company, with business interests in entertainment and gaming, hospitality and real estate) “and Genting HK” (which belongs to the Genting group of Malaysia which, in turn, is connected with one of the four locally licensed gaming companies).

2012 estimates

On the basis of existing property venues reviewed, the study’s 2012 estimated gross gaming revenues of the world are as follows: Macau, $40 billion at 20-percent growth; Singapore, $6.9 billion at 13-percent growth; Malaysia, $1.55 billion at 3-percent contraction; Philippines, $1.7 billion at 17-percent growth; Cambodia, $0.26 billion at 19-percent growth; Vietnam, $0.18 billion; Sri Lanka (still to be determined); Las Vegas, $6.1 billion at 2-percent growth; Atlantic City, $3.3 billion at zero growth; and Australia, $17.1 billion at 4-percent growth.

Wynn-Okada controversy

Notice in the foregoing forecast, Las Vegas is expected to be overtaken by Singapore as the second-biggest gaming market in the world. Macau, according to the study’s estimates, too, will be adversely affected as additional property venues, like those in the Philippines, will shortly go on stream.

In this connection, the study reflected some indirect conclusions on the quarrel between Wynn Resorts Ltd., on one side, and Kazuo Okada, Aruze USA Inc. and Universal Entertainment Corp. (Okada), on the other.
Local gaming observers and enthusiasts were even more direct and articulate on the matter: Okada, through its subsidiaries, is one of the four gaming companies awarded by Philippine Amusement and Gaming Corp. to build a hotel-resort complex in the Entertainment City, wherein he obviously did not include Wynn.

Based on the 2010 financial report of Wynn Resorts, Las Vegas contributed “31 percent of total revenue, [on] 70 percent of assets, [at] 57 percent of total cost” while Macau contributed “69 percent of total revenue, [on] 30 percent of assets [at] 43 percent of cost.”

The quarrel has turned ugly, even casting a bad reputation on the country. But to the aforementioned parties, the controversy is nothing but a simple case of Wynn getting sore at Okada. Wynn was clearly left out of the Philippine market whose business is estimated to grow at a double-digit rate.

Bottom-line spin

It is very evident that the Philippines is now at a crucial stage to grab economic greatness that eluded it in the past. No extensive body of information is yet available that clearly captures the adverse costs from the exploitation of mineral resources to environment and gaming (or gambling) to society. On the other hand, both have undeniable roles in historically fostering economic development in the United States and in Europe.

The economy of Singapore is a patent product of gaming as a source of new revenue and instrument to further stimulate the economy.

The government should act now. Prolonged indecisiveness may lead to losing its current chance to promote national development and global competitiveness.

...the "sick man of Asia" no more

Philippines tries new tack: healthy man of Asia

By Rosemarie Francisco and Jason Szep,

Reuters

02/20/2012

The Philippines, the perennial "sick man of Asia", has rarely looked healthier and investors are placing their bets.

MANILA, Philippines - It is getting busy in Cristino Naguiat's spacious 5th-floor office overlooking Manila Bay.

The chairman of gambling regulator Philippine Amusement & Gaming Corp is fielding calls and booking appointments to meet possible investors in a sprawling gambling and entertainment project his government hopes will rival Las Vegas in five years.

Among them: Casino billionaire Francis Lui of Galaxy Entertainment Group Ltd and executives from Melco Crown Entertainment Ltd, controlled by Australian billionaire James Packer and the son of Macau gambling mogul Stanley Ho.

"There is growing interest. The fact that in just two weeks I have had two visitors from big companies in Macau says something about it," said Naguiat, a veteran of the gaming industry.

"Investors are having a second look at the Philippines. The fundamentals are very good."

The Philippines, the perennial "sick man of Asia", has rarely looked healthier and investors are placing their bets.

Its stock market, the best performer in Asia last year, is up nearly 13 percent this year to a record high on Monday. Benchmark 10-year government bond yields are down about 44 basis points, as prices jump.

Overseas buying of Philippine stocks hit a record $938 million in the fourth quarter, and the pace has quickened this year, according to TrimTabs Investment Research.

Economic growth is projected at about 4 percent despite global headwinds, about middle for the region.

Easing inflation, among the lowest in Southeast Asia at 3.9 percent in January, gives the central bank room to cut rates by at least another quarter-point this year. Infrastructure spending is rising.


Pressure on President

But as investors crowd into Manila's hotels, pressure is growing on Philippine President Benigno Aquinas III to go beyond usual half-hearted attempts to crack down on corruption, fix a stifling bureaucracy and find new streams of revenue in a country whose earnings usually end up in the hands of the elite.

Several crucial tests loom, including his pursuit of graft allegations against Gloria Arroyo, who until June 2010 was president, and the impeachment trial of the Supreme Court's chief justice, accused of protecting Arroyo from investigation.

Both cases could determine whether the Philippines moves ahead or withers again as a choice for investors after a brief spell of optimism.

Although he enjoys a 72 percent approval rating after 1-1/2 years in office, the odds are stacked against him.
"He is trying to transform the mindset of the people from being always suspicious to being hopeful, trustful of government," said Philippine Secretary of Finance Cesar Purisima in an interview at his home in a leafy Manila neighborhood.


"Blooming tiger"

The "rise" of the resource-rich Philippines has been hailed before, only to disappoint. About a third of the archipelego's 94 million population still lives below the poverty line, fuelling an exodus of 4,000 workers a day joining a huge Filipino diaspora seeking opportunities abroad.

In the 1950s, it boasted one of the highest per capita incomes in Asia. President Ferdinand Marcos, however, intervened with two decades of dictatorship.

Optimism surged anew when Marcos fled a "People Power" revolt in 1986 that swept to Aquino's mother, Corazon, to the presidency. On January 30, 1997, then-Finance Secretary Roberto De Ocampo uncorked champagne on the stock-exchange floor as share prices pierced all-time highs, toasting "the blooming tiger economy of Asia" and predicting the Philippines would soon catch up with South Korea and Singapore.

Another flutter of optimism occurred in mid-2007, as the economy approached its best performance since the 1990s, pushing up stock prices and luring back foreign investors. Yet again, hopes were crushed.

Corruption, cronyism and personality-driven politics flourished, squeezing the life out of reforms.
The $200 billion economy is on stronger footing this time.

Corporate balance sheets are in the best shape in a decade with gearing of less than 60 percent. The government's budget gap has narrowed to about 2 percent of the economy from a record 5.3 percent in 2002. Remittances from overseas Filipinos remain steady at 10 percent of GDP, and consumer debt as a proportion of the economy is just 7 percent, the lowest in Asia.

"The Philippines economy is clearly at the stage where it will be attracting more investor interest," said Prakriti Sofat, regional economist at Barclays Capital.

UBS offered an even rosier view. "We think the Philippines has one of the most attractive medium-term investment and consumption growth stories among emerging markets," its economists said in a Jan. 11 report, calling it a safe haven in turbulent times.

The buzz is drawing inevitable comparisons with another booming Southeast Asian former basket-case: Indonesia.

Both mostly escaped fallout from Europe's debt crisis. Both limped to the International Monetary Fund for bailouts in the Asian crisis of the late 1990s. And both have since built up their reserves and slashed debt. In the Philippines, foreign exchange reserves have more than tripled since 2005.

Indonesia has been rewarded with a return to investment grade status. Many think the Philippines is next.
Standard & Poor's Corp upgraded its outlook on Philippine debt in December to positive from stable. In June, Fitch Ratings raised the Philippines to one notch below investment grade, citing better government finances, a more stable economy and "favorable economic prospects".

"If Indonesia is investment grade, we cannot be two notches below Indonesia," Purisima said.

Like Indonesia, the Philippines' public debt as a percentage of GDP is falling, dipping to 57 percent from 79 percent in 2005. Indonesia, its population and economy more than twice the size, has done better, halving the ratio to 23.5 percent, according to Bank of America Merrill Lynch economists.


"Cautious"

But making money in the Philippines remains difficult.

Its stock prices are among Asia's most expensive. Investment protection laws are opaque and government revenue is the weakest in Southeast Asia at just 13 percent of the economy. Long-running Communist and Muslim insurgencies and complex regulations deter mining investments.

"The economy seems to be on the mend, however when you look at the stock market, it is relatively small for a country that size and the good stocks are very expensive," said emerging-market investor Mark Mobius, executive chairman of Templeton Asset Management Ltd in San Mateo, California.

Valuations have been rising: the MSCI's index of the Philippines, for instance, trades at 15.2 times 2012 earnings, up from 13.5 times a year earlier. Compare that to Singapore's 13.3 times, Malaysia at 14.3, Thailand at 10.6 and Indonesia at 12.90 times.

The problem, however, goes beyond high prices.

"You have to be quite cautious when looking at the Philippines. What's needed in the Philippines are more IPOs, more companies going to the market," said Mobius.

Just eight companies launched initial public offerings (IPOs) to list their shares in the Philippines between 2008 and 2011, a sharp contrast to 76 in Indonesia, 85 in Malaysia, 50 in Vietnam and 49 in Thailand, according to Reuters data.

That, too, appears to be changing. The Philippine Stock Exchange forecasts a doubling in total fund-raising to about $4.7 billion this year after foreign inflows into stocks rose more than three-fold in the first six weeks of the year to $351 million, overtaking net buying for all of 2009.


Multinationals needed

But Aquino needs to attract more than just portfolio money. He needs spending by multinationals.

The Philippines attracted just $1.7 billion, or 2.3 percent of the $75.6 billion of foreign direct investment (FDI) that flowed into the 10 members of the Association of South East Asian Nations in 2010, trailing Singapore, Indonesia, Malaysia, Vietnam and Thailand, the most recent ASEAN data shows.

In the 10 years to 2010, the country's annual net FDI never exceeded $2 billion.

"You have to look at the foreign investors negative list (FNL) -- no changes in 10 years; it essentially stayed the same," said Jeffrey Woodruff, executive director of the American Chamber of Commerce in Manila, referring to the list of sectors with limits to overseas investors.

"The only changes came in allowing investment in gambling, which took place a few years ago. Other than that, there's been no change in the FNL for a decade," he said.


Graft, mining troubles

A report from the World Bank's private sector arm, the International Finance Corporation, helps explain the trickle in investments: the Philippines ranked 136th out of 183 economies globally for the ease of doing business last year, and scored even lower for starting businesses. Overall, it was one place worse than the Sudan and two behind Syria.

To try to address that, the government has set up one-stop-shops in 252 economic zones to help investors.

Outside those areas, however, lie thickets of red tape and bribes for permits.

Mining investments are especially difficult.

In 2005, the Philippines' Supreme Court upheld a law allowing full foreign ownership of mining projects. Top global miners such as BHP Billiton started investing, lured by an estimated $1 trillion in untapped mineral resources. But strong opposition from the Catholic church, mine accidents, a strong anti-mining lobby and the previous unpopular government's unwillingness to counter public opinion drove most miners away.

Xstrata Plc's $5.9 billion Tampakan project in southern Philippines, Southeast Asia's largest undeveloped copper-gold prospect, has yet to move off the drawing boards, caught between local and national policies on mining.

Turning that around and improving decrepit infrastructure are central to Aquino's plans as he tries to attack graft and low tax revenue that have undermined public spending.

December's successful bidding of the Philippines' first public private partnership project, the Daang Hari SLEX expressway, will be followed by at least $1.8 billion in similar auctions this year and $17 billion in the next five years.

"The Philippines appears to be at an inflection point," said Pauline Ng, investment manager for the Pacific at JP Morgan Asset Management, which oversees $102 billion in Asian client assets. "Sectors like industrial land, property, toll roads and cement will be key beneficiaries of investment-led growth."

The country is plagued by chronically low tax collection and domestic credit too is falling -- at 8 percent as of June 2011 from around 17 percent in 2008 and well 15 percent in Indonesia and Thailand.

Aquino, 52, has vowed to enforce tax rules better before imposing new taxes or raising them. But he hasn't got far. Tax revenue rose to 12.3 percent of GDP last year, barely up from 12 percent in 2010 when it was the lowest in at least a decade.

He has now begun to raise duties on alcohol and tobacco -- steps that could generate $1.4 billion in 2012 and $2.75 billion by 2014 if passed by Congress.

He hopes these and other measures will lift the economy's growth rate to as fast as 8 percent during his single term mandate that runs to 2016.

He enjoys almost unprecedented support. He is the first president since his mother to have backing of both chambers of Congress after winning elections in May 2010 by a record margin.

He owes part of his popularity to his revered family name and its reputation for probity. His father, Benigno, was an opposition leader assassinated during the Marcos era.

"This is a rare occasion in the Philippines where you have a president who has the largest mandate ever and he wants to use that mandate to really transform the country," Purisima, the Secretary of Finance, said.
But it is unclear whether he will succeed in his biggest challenge of all: a confrontation with what he calls an obstructionist judiciary beholden to his predecessor.

As his government attempts to impeach Supreme Court Chief Justice Renato Corona, the stakes could hardly be higher. If the impeachment fails, Aquino has said it would virtually destroy his efforts to end corruption.

The final decision rests with the Senate where Aquino's party faces a struggle to win enough support to convict Corona.


Young population

Fund managers such as Ng see opportunities for gains in stocks exposed to consumers. UBS, for instance, likes PLDT , the country's largest telecommunications company, and BDO Unibank Inc.

Part of the Philippines' allure is its youthful population. Half the population is under 20 years old, many speak English -- a legacy of its past as an American colony - and the population itself is projected to swell to 190 million by 2040.

Remittances from more than 10 million overseas workers are a growing source of growth, pumping $20 billion into the economy last year.

The Philippines' business-outsourcing industry, including call centres, is also growing fast. It is projected to generate revenue of at least $13 billion this year, rising 20 percent from 2011 and more than four-fold from six years ago.

Aquino also has another wager that plays directly into hopes to transform Manila into a Southeast Asian Las Vegas.

He has targeted a rise in tourism to about 10 million visitors by the end of his term, from about 3.9 million now.

The Philippines awarded four licenses in 2008 and 2009 to operate casinos in a gambling and entertainment complex in Manila. Each Philippine licensee agreed to invest $1 billion over five years. Three of the four licenses went to a venture between Genting Malaysia Bhd and Alliance Global Group Inc , Philippine property developer Belle Corp, and ports tycoon Enrique Razon's Bloombury Investments Holding Inc.

But why should a wealthy gambler from China come to the Philippines instead of gambling resorts that have sprouted in Singapore, Macau in China and Genting in Malaysia?

"No gambler will play and lose everything in the same casino," Naguiat, the gaming regulator, said. "Look around. We're part of this circle. They'll go to Macau, they'll go Genting. They'll go to Singapore and they'll go to the Philippines."

...the aspiring major gaming hub

Philippines can become ‘major’ gaming hub in region

 

Research firm sees revenues hitting $1.2B by 2015

 

By: Doris C. Dumlao
Philippine Daily Inquirer

Wednesday, December 7th, 2011

The Philippines has the potential to become a “major” gaming hub in the Asia-Pacific region and grow its gaming market to about $1.2 billion by 2015 as more privately run casinos start operations, a research by global professional services firm PricewaterhouseCoopers (PwC) said.

In a recent report, PwC estimated that casino gaming revenues in the Philippines fell by 5.9 percent in 2010 but were rebounding this 2011 to hit a full-year growth of 10.8 percent.

The report said the Philippines already had a “vibrant” casino gaming market and projected that new casinos would propel spending at a 16.9-percent compounded annual rate to $1.2 billion in 2015, making this country a major gaming area as well.

The casino gaming market in the Philippines last year was estimated by PwC at $558 million, which is ending this year at $618 million.

“The next five years will see Asia-Pacific emerge as the world’s leading region for casino gaming,” the PwC report said.

For Asia-Pacific as a whole, the report noted that casino gaming revenues would expand from $34.3 billion in 2010 to $79.3 billion in 2015 for an 18.3-percent compounded annual increase.

Macau is seen remaining as the largest casino gaming center in Asia-Pacific, growing at a compounded annual growth rate of 21.5 percent through 2015, outpacing Singapore’s growth rate of 20.5 percent compounded annually.

“The jewel in the crown of Asia-Pacific’s casino gaming industry is Macau, the largest single destination market in the world at $23.4 billion in 2010, more than twice the revenue of Nevada in the U.S.,” the report said.

Australia was a distant second with a $3.4-billion market in 2010, followed by Singapore at $2.8 billion and South Korea at $2.6 billion.

The report said Australia was facing increased competition in luring “high rollers” now that Singapore has become an established market.

In the Philippines, PwC noted that Belle Corp.’s planned complex in Manila Bay was expected to open in 2013, although the project has experienced a number of delays.

The research noted that the state-run Philippine Amusement and Gaming Corp. was the monopoly provider with the exception of the Cagayan Special Economic Zone, which issues its own casino licenses. Casinos in the Cagayan region are only open to foreigners, it added.

The Philippines is building an entertainment complex along Manila Bay, called Entertainment City, but has required casino licensees to invest heavily in hotel facilities prior to opening their casinos.

...the hair experts

10 Pinoys win awards in int'l hair and makeup contest in Macau

 

 

11/16/2011

GMA News

Ten Filipino hairdressers and makeup artists reaped awards in an international hair and makeup competition last November 8 to 10, the Philippine Consulate General in Macau said.

According to a news release issued on Tuesday, Stefanie Ilagan led the Philippine delegation with a first runner-up finish in the Bridal Makeup category of this year's Asia-Pacific Hair and Makeup Cosmetologists Association (APHCA) Hair and Makeup Competition held at the Venetian-Macau Hotel and Resort.

Pinoy hair and make-up artists bagged 1 first runner-up finish and 9 honorable mentions in an int'l tilt in Macau. DFA.gov.ph

More than 40 major hairstyling and makeup experts from the Asia-Pacific region competed for 60 awards in the competition, which is also known as the “Asia-Pacific Hair and Makeup Olympics."

Aside from Ilagan, nine other Filipinos received honorable mentions in several categories, including Evening Hairstyle, Evening Makeup, Party Makeup, and Ladies’ Cut and Creative Color:

Nitz Clidoro

Giovanni Luage

Ester Garcia

Peping de Guzman

Antonio Agustin

Ronald Tuaño

Daniel Lois Buddy Congson

Vicente Hisola, and

Raquel Pangilaga.

The competition started in 1996 during the Asia-Pacific Economic Cooperation (APEC) Summit in Manila, through the efforts of Filipino hairdresser and businessman Ricky Reyes, who founded the APHCA.

The association now has 18 member-countries, including six from Europe. — Rose-An Jessica Dioquino/KG/RSJ, GMA News

...the Math wizzards at Beijing

Pinoy rules world Math competition

 

By JONATHAN M. HICAP

November 6, 2011,

Manila Bulletin

 

 

 

BEIJING, China — An 11-year-old Filipino boy defeated 191 students from all over the world to emerge as the individual champion in the four-day World Mathematics Team Championship (WMTC), which concluded here Sunday.

Filipino students together with their coaches show off their medal and trophy harvest at the awarding ceremony of the World Mathematics Team Championship in Beijing, China. (Photo courtesy of Ronald Uy, parent of one of the contestants)

The individual feat of Farrel Eldrian Wu, a Grade 6 pupil of the MGC New Life Christian Academy in Taguig City, was the “icing on the cake” for the Philippines as its primary school team wound up second place over all in the contests held from November 2-6.

Wu bested competitors from different countries, including the US and China, to win the gold medal in the primary division individual contest held at the Jiuhua Resort and Convention Center, here.

“I dedicate this award to the glory of God and to the Philippines,” Wu said after the awarding ceremony presided over by Quan Lam from the University of California-Berkeley and Zhou Guozhen, co-chairmen of the WMTC executive committee.

The 47-member Philippine delegation broke into loud applause and cheers as the names of the Filipino students were announced as winners.

Besides Wu, two other primary school pupils won gold in the individual contest. They are Clyde Wesley Ang of Chiang Kai-Shek College and Miguel Lorenzo Ildesa of the PAREF Westbridge School in Iloilo City.

Winning individual silver medals are Andrea Jaba of the Saint Jude Catholic School and Sedrick Scott Keh of Xavier School in the primary division, and Ma. Czarina Angela Lao of Saint Jude Catholic School and Raenelle Ean Ngo of Chiang Kai-Shek College won in the middle school division.

The Philippines Team 1 was declared second over all in the primary division team contest. Its members are Wu, Ang, Ildesa, Jaba, Keh, and John Aries Ceazar Hingan of San Beda College-Alabang in Muntinlupa City.

“I never imagined that we would ever beat China and the US in this kind of competition. I’m very proud that our students rose to the challenge and gave an oustanding performance in the contest,” said delegation head Rechilda Villame, executive vice president of the Mathematics Trainers Guild-Philippines, who were with the students in China with Eugenia Guerra, Nikolai Christian Vasquez and Phoebe Guerra.

Besides Hingan, other individual bronze medalists are: Jan Joshua Cruz of Pasig Catholic College; Christian Philip Gelera , UP Integrated School, Matthew Angelo Isidro, Mikaela Uy, and Austin Chua of Saint Jude Catholic School, Shaquille Wyan Que of Grace Christian College; twin brothers Mark Christopher and Matthew Johann Uy, Aaron Dy and Aldrich Aldwin Mayoralgo, of Xavier School, Karli Ang, Philippine Institute of Quezon City, Michael Brodeth and Marc Patrick Celon. Philippine Science High School-Main, Camille Dee, Immaculate Conception Academy, Brendon Go, British School of Manila, and Daniel Young, Jubilee Christian Academy.

Chinese and American contest organizers lauded the Philippine team in the contest and were very curious as to how the MTG, headed by Dr. Simon Chua and Mrs. Villame, trains students for competitions abroad.

A total of 65 teams joined the contest. They include teams from the United States, host China, the Philippines, South Korea, Malaysia, Indonesia, and Macau.