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PBCom eyes P2 billion from new bond issue
The Philippine Bank of Communications is looking to raise at least P2 billion, with an option to oversubscribe, from the first tranche of its new peso bond program......»»
Highly-leveraged SMGP
San Miguel Corp. predictably won the Court of Appeals decision recently, reversing the Energy Regulatory Commission in its rejection of the petition of its energy arm San Miguel Global Power Corp. or SMGP’s plea for a temporary rate increase. SMGP claims P15 billion in losses from its units South Premiere Power Corp. and San Miguel Energy Corp. as a result of high fuel costs and the supply restrictions from the Malampaya natural gas project. It turns out that SMGP direly needs to be profitable since it is deep in borrowings for its projects. Data supplied to Daily Tribune by the think tank Center for Energy, Ecology and Development showed SMGP has obtained several financing arrangements, such as long-term debts and issuance of Senior Perpetual Capital Securities or SPCS and other debt instruments to facilitate the acquisition of coal-fired power plants and investments in new power plants. For the construction and expansion of coal plants, SMGP has secured the following financial transactions: January 2018, drawing P2 billion from the P44-billion Omnibus Loan and Security Agreement to finance the construction of two 150-megawatt Limay coal-fired power plants; March 2018, $700-million floating interest term loan, $400-million short-term bridge financing loans, $400-million floating interest term loan, and $650-million Redeemable Perpetual Securities for the acquisition of Masinloc Group including two 315 MW Masinloc power plant and the construction of Unit 3 and 10 MW battery energy storage project; January 2019, $35 million from its $525 million Omnibus Expansion Facility Agreement to finance the ongoing construction of the 300 MW expansion of Masinloc Power Plant; November 2019, drawing of an additional $40 million from $525 million OEFA to finance the additional 300 MW Masinloc Power Plant; July 2019, drawing of P978 million from a P2.1 billion 12-year Omnibus Loan and Security Agreement with a syndicate of local banks for the financing of the construction of the Davao Greenfield Power Plant; March 2020, drawing of an additional $43 million to finance the construction of an added 335 MW Unit-3 Masinloc Power Plant; and July 2022, allocation of up to P20 billion from the sale of P30 billion fixed rate bond with an oversubscription option of up to P10 billion. As for its liquefied natural gas-related projects, SMGP has issued debt certificates in the past three years including: October 2020 — $400 million worth of SPCS issued for 100 percent with an initial rate of 7 percent per annum. In-principle approval for the listing and quotation from Singapore Exchange Trading Ltd. December 2020 — $350 million worth of SPCS issued for 102.457 percent with an initial rate of 7 percent, and listed on the SETL; April 2021 — availment of $50 million from the October 2020 loan facility agreement for capital expenditures related to the Ilijan gas-fired power plant and its expansion, financing of LNG importation, and storage facilities, among others; June 2021 — $600 million worth of SPCS issued for 100 percent with an initial rate of 5.45 percent per annum, and listed on the SETL; September 2021 — $150 million worth of SPCS issued for 100.125 percent with an initial rate of 5.45 percent per annum, and listed on the SETL; and July 2022 — allocation of up to P24.5 billion from the sale of P30 billion fixed rate bonds with an oversubscription option of up to P10 billion. In April 2021, SMGP also availed of its $50 million from its term loan facility with a foreign bank executed in October 2020. The proceeds of this loan are intended for the payment of capital expenditures of the Ilijan plant, funding of liquefied natural gas import, storage, and distribution facilities, pre-operating and operating working capital requirements for Battery Energy Storage System projects, and transaction-related fees, costs, and expenses of the facility. The post Highly-leveraged SMGP appeared first on Daily Tribune......»»
Jane Birkin, British-French celebrity and style icon, dies at 76
Jane Birkin, the British-born singer and actress who became a style icon in her adopted France, has died, a close source said on Sunday. She was 76. Birkin had been suffering from health problems in recent years that had forced her to cancel concerts. The cause of death and other details were not immediately available. Birkin catapulted to fame through her turbulent relationship with legendary singer-songwriter Serge Gainsbourg and her heavily accented French. With her flared jeans, mini dresses, and messy bangs, Birkin was a fashion icon in the 1970s. In 1984, Hermes named one of its handbags after her, which remains a sought-after status symbol. Turbulent love affair She crossed the Channel in 1968 at the age of 22 to star in a film alongside Gainsbourg, who was 18 years her senior. It was the start of a 13-year relationship that made them France's most famous couple, in the spotlight as much for their bohemian and hedonistic lifestyle as for their work. Birkin, with her soft voice and androgynous silhouette, quickly became a sex symbol, recording a steamy duo with a growling Gainsbourg in 1969, "Je t'aime… moi non plus". Banned on radio in several countries and condemned by the Vatican, the song was a worldwide success. "He and I became the most famous of couples in that strange way because of 'Je t'aime' and because we stuck together for 13 years and he went on being my friend until the day he died. Who could ask for more?" Birkin told CNN in 2006. "So Paris became my home. I've been adopted here. They like my accent," she said. Style icon The daughter of an actress and a naval officer, Birkin married James Bond composer, John Barry, with whom she had a daughter, Kate. The marriage lasted three years. She moved to France after meeting Gainsbourg on the set of a romantic comedy in which he was her co-star. They had a daughter, Charlotte, who became a hugely successful actress and singer. The musical and romantic relationship between Gainsbourg and Birkin was famously tempestuous. During one of their raging rows, Birkin tossed herself into the River Seine after throwing a custard pie in Gainsbourg's face. She blazed her own trail after walking out on France's favorite bad boy in 1980. In her around 70 films she has worked with leading French directors including Bertrand Tavernier, Jean-Luc Godard, Alain Resnais, James Ivory, and Agnes Varda. But she remained forever associated with Gainsbourg, who continued to write songs for her after their split, including "Les dessous chics" about lingerie being used to try to cover up a relationship on the rocks. "It's the most beautiful song about separation you could ever have," Birkin told AFP in a 2018 interview. Her oldest daughter, Kate Barry, a photographer, died in an apparent suicide in 2013. Birkin is survived by her daughter with Gainsbourg, Charlotte, and her daughter Lou Doillon, a singer, whom she had during a 13-year relationship with French director Jacques Doillon. The post Jane Birkin, British-French celebrity and style icon, dies at 76 appeared first on Daily Tribune......»»
Sandiganbayan acquits co-accused in P46-M fertilizer anomaly
The Sandiganbayan has dismissed the charges against a private co-accused in the illegal P46.45-million fertilizer purchase of the Department of Agriculture and National Food Authority in 2003. In its 4-page resolution dated 7 July 2023 and released on Sunday, the graft court’s Sixth Division found insufficient evidence that Tomas Guibani, a representative of Philippine Phosphate Fertilizer Corp., conspired with the principal defendants, former DA Secretary Luis Ramon Lorenzo and former NFA Administrator Arthur Yap, in negotiating the purchase of the fertilizer instead of bidding it out to suppliers, in violation of Section 3(e) of the Anti-Graft and Corrupt Practices Act and the Government Procurement Act. “Private individuals may be held liable for violation of Section 3 of RA (Republic Act) 3019 only if they act in conspiracy with the accused public officers. There being insufficient evidence to show the conspiracy, the Court finds that the withdrawal of the Informations is proper,” the resolution read. The Ombudsman charged the three with five counts of graft in 2018. The Supreme Court ruled in October 2022 that the constitutional right of Lorenzo and Yap for a speedy disposition of cases against them was violated. The two principal accused were subsequently acquitted of the charges. Earlier, Guibani asked for the dismissal of the cases against him as Lorenzo and Yap were both cleared of the same charges. With his acquittal, Guibani’s hold departure is now lifted and set aside. The court also ordered his bond be released, subject to the usual accounting and auditing procedure. The post Sandiganbayan acquits co-accused in P46-M fertilizer anomaly appeared first on Daily Tribune......»»
Manning agents plead for equal protection over disability claims
Rumors of the scrapping of the escrow provision in the Senate version of the proposed Magna Carta for Seafarers have alarmed manning agents. Captain Reynaldo Casareo, president of Cargo Safeway Inc., one of the biggest crewing agencies in the country, said Wednesday the Senate Committee on Migrant Workers headed by Senator Raffy Tulfo should clarify whether or not the Senate bill will have an escrow provision like the MCS version already passed by the House of Representatives. Casareo said they want protection against seafarers who collude with ambulance chasers to get payments for permanent disability suffered on duty when the injury is not really permanent. “Senator Tulfo, please also listen to the agencies and shipowners being abused by ambulance chasers and not those seafarer groups that clearly have different intensions,” Casareo said. Another manning executive who requested not to be named also appealed to the senator. “If Senator Tulfo has indeed believed that the escrow provision is anti-seafarer, then this is bad. It was supposed to help ship owners that are providing opportunities to our seafarers. We hope he will listen to us.” Kabayan Partylist Representative Ron Salo, chairman of the House Committee on Overseas Workers Affairs, inserted in the MCS bill the provision for the creation of an escrow account that would strengthen the fight against ambulance chasing. Co-author and OFW Party-list Rep. Marissa “Del Mar” Magsino earlier said the provision was intended to address the inimical practice of ambulance chasing perpetrated by unscrupulous lawyers and litigants to the prejudice of employers and manning agencies. “The proposal is to place in escrow the monetary award (for disability claims) in favor of a seafarer if the employer or manning agency concerned has appealed the decision for judicial review,” Magsino said. “To counter-balance it, the seafarer is given the option to file a corresponding bond as a security, if he wishes to move for the execution of the decision pending appeal. These twin mechanisms are precise to prevent the dissipation of the monetary award in the hands of the winning party in the absence of a final judgment,” she said. During the Maritime Familiarization Workshop for Media organized by the seafarers’ union AMOSUP over the weekend, Atty. Iris Baguilat, chairperson of the ALMA Maritime Group and president of Dohle Seafront Crewing (Manila), said seafarer deployment dwindles yearly because of several factors, including the rampant illegal practice of ambulance chasing. Quoting the employers’ group International Maritime Employers’ Council, Baguilat said “Ambulance chasing is the biggest threat to Filipino seafarer employability” since it made them expensive due to their lawyers’ erroneous claims. She said that the Department of Migrant Workers reported that, based on National Conciliation and Mediation Board data alone for 2018 to 2022, between 28 percent and 30 percent of the monetary awards by NCMB amounting to over P2.57 billion have been reversed by higher courts for being erroneous. “Most of this award has not been returned to the shipowners,” Baguilat said. The post Manning agents plead for equal protection over disability claims appeared first on Daily Tribune......»»
FIBA: Mighty Jimmy and the shot that introduced Gilas to the World
This story was originally published on Feb. 24, 2019 It’s Saturday night at Mall of Asia and the arena is absolutely rocking. Eternal basketball rivals in the Philippines and South Korea are delivering another classic. Gilas Pilipinas is down to the final minute of regulation against its longtime tormentor in the second of two semifinal games. The national team is up by two, 81-79. The Philippines is hosting the 2013 FIBA-Asia Championships where three tickets to the 2014 World Cup are at stake and the winner of this particular game gets one of those tickets. Given the rich history of both teams and what it would mean to the winner, this pivotal game has gone down the wire as everyone pretty much expected. Also knowing the history of both teams in international play, Gilas’ precarious two-point lead was not safe at all. A ghost was lurking in the background and a dreaded curse felt almost inevitable. Down to the final minute of the crucial grudge match between the Philippines and South Korea, guard Jimmy Alapag has the ball and a two-point lead. What he will do will help define not only his career but the legacy of the Gilas name as a national team. WAKE-UP CALL Even before the Philippines-Korea game, Gilas Pilipinas already had to go through one emotional game early in its homestand for the Asian Championships. In a preliminary round showdown against Chinese Taipei, the Filipinos collapsed in the fourth quarter, allowing the Taiwanese to steal a morale-boosting 84-79 win. In 2013, the relationship between the two countries hit a rough patch over the death of one Taiwanese fisherman. In an updated May 17 report by CNN’s Jethro Mullen, “Taiwan has reacted angrily after one of its fishermen was killed by a Philippine coast guard vessel.” Taiwan had frozen applications from OFWs seeking jobs in its territory and the government of then President Ma Ying-jeou demanded an apology, among other things, from the Philippines. While the national basketball teams of both countries never really had any prior animosity with each other, tension was naturally present as both teams squared off in Group A action. Gilas Pilipinas and Chinese-Taipei both entered the showdown with identical 2-0 records and the winner would take control of solo Group A lead heading into round 2. Taking a good lead into the fourth quarter, the Philippines was outscored by 18 in the last 10 minutes and the national team took its worst home loss in quite some time. “At the time, it was a huge game for us. We understood what was happening in Taipei during that particular time. We really wanted to win for what our kababayans were going through at that time,” guard Jimmy Alapag said on that first home loss in the 2013 Asian Championships. “We didn’t get the job done, and it was tough especially to lose a game like that, it was a very emotional and it was a game that we knew we needed,” he added. The crushing loss meant that the Philippines had little room for error in round 2. While Gilas didn’t have any world beaters lined up in the second round, anything less than a perfect run would have meant an early clash with Asia’s established powerhouse teams in the knockout stages. On the other side of the bracket, defending champion China, Iran, and South Korea were battling for position and were expected to finish in the top-3. That means if Gilas Pilipinas failed to finish no. 1 in its group, the national team would have faced one of those teams in the quarterfinals. Gilas picked up a crucial win over Qatar in the 6th of August and the day after, the Philippines got some help from those same Qataris as they beat Taipei in a close decision. At the end of round 2, all teams finished with identical win-loss records but Gilas Pilipinas would take over first place after all tiebreaks were considered, barely edging out Taipei. The Philippines ended up avoiding defending champion China, Iran, and South Korea and instead got Kazakhstan in the quarterfinals. No. 2 Taipei drew China and the third-running Qataris were matched up with the South Koreans. “I think that was the moment we grew up and grew closer. I think that was the lowest of the lows, just because of the atmosphere and what was going on between both countries. It kind of felt that we let our end of the bargain down, you know what I mean? We’re on our home soil and we didn’t take care of business. I think that was one of those moments where we had to really check ourselves and find a way to make it right,” forward Gabe Norwood said of the Taipei loss. “But it turned out to be a blessing in disguise. In tournaments like FIBA-Asia it’s important that you have short-term memory whether it was a win or a loss. We needed to let go of that game and continue to stay the course, keep our focus in the tournament,” Alapag added. On August 7, four days after Gilas lost to Taipei, the rift between the Philippines and Taiwan would reach a resolution and the latter country lifted its freeze hiring and other sanctions on the former. The Philippines also did issue on official apology over the death of the Taiwanese fisherman a couple of months prior and the National Bureau of Investigation in Manila recommended the pressing of homicide charges to erring members of the Philippine Coast Guard. DARK HISTORY If the word “rival” is to be defined as a, “person or group that tries to defeat or be more successful than another person or group” then sure, the Philippines and South Korea are rivals. Both countries are rivals in the Asian basketball scene and they have been going at it for a very long time. But if the word rival can also mean “equal” or “peer,” is the Philippines really a worthy basketball rival to South Korea? The Philippines’ history with South Korea in terms of basketball is dark. Very dark. Consider the most high-profile matches between the two countries and you’ll see that the Philippine national team is just not at the level of South Korea. Or at the very least, Koreans always seem to reach 120 percent of their potential when they play Filipinos and we barely bring out 80 percent of our abilities when matched up against our East Asian neighbors. The 1998 PBA Centennial team, arguably the greatest Philippine team ever assembled, was demolished by South Korea in the Asian Games. A national team set up for gold only settled for bronze. Speaking of a bronze medal game, the original Gilas Pilipinas team lost a podium finish to South Korea in the 2011 FIBA-Asia Championships. That team squandered a double-digit lead and collapsed late. Of course, who can forget the semifinals of the 2002 Asian Games in Busan when Olsen Racela had the chance to put the Philippines up four but missed two free throws. South Korea would win with a booming triple at the buzzer off a broken play and would later take down China to capture the gold medal. South Korea is the Philippines’ basketball nemesis for all intents and purposes. A worthy adversary that always seem to emerge victorious at our expense. Still, all that previous disappointment didn’t seem to bother Gilas Pilipinas six years ago. The team was not scared and instead, they were excited even. One factor to greatly consider was that fact that the game was in Manila. It makes all the difference to play at home. “We understood the bad history that we had with Korea. We haven’t been very successful with them in quite some time but we knew from Day 1 that if ever we got an opportunity to play them at home, then we have a great chance,” Alapag said. “Man, pre-game, it was just the focus. Everybody was up for the challenge, I don’t think anybody was really nervous, I think it was just the anxiety... we wanted to get out there and do it already,” Norwood added. Playing at home had its perks for sure, but it also had its drawbacks. For all the painful losses the Philippines suffered at the hands of South Korea, it would have been devastating if Gilas actually took a beating in Manila. Stakes were extra high in this particular chapter of this long, ongoing saga. “There was always pressure, it was something that we acknowledged early. Playing at home, it’s great having that support but at the same time, there is some added pressure because you wanna make sure that you make our home crowd proud of the team that they watch and ultimately, win games,” Alapag said, making sure to note that the national team knew of the disadvantages of playing at home even before the Korea game. “It was there but it was something that we acknowledged and we wanted to make sure that we took advantage of the opportunity playing at home,” he added. ALL FILIPINO, ALL HEART Once it was go time, the Philippines-South Korea game went about pretty normal, as you would expect any game from these two national teams. But even before halftime, an injury to Gilas center Marcus Douthit changed the complexion of the semifinals showdown. All of a sudden, the Philippines was without its anchor, without its best player. Sure, there were players on the Gilas bench that can come in and replace Douthit’s size but there was simply no one on the Gilas bench that can come in and replace his talent, production, and just overall presence. June Mar Fajardo was in that Gilas bench but it 2013, the would-be five-time PBA Most Valuable Player was just not at that level yet. It would have been easy for Gilas Pilipinas to fold like cheap furniture and succumb to the overwhelming pressure of trying to overcome South Korea to reach a stage very few Filipinos have reached before. Gilas didn’t fold and instead, the Douthit injury rallied the team even further. “Alam mo sa totoo lang, puso na lang yun eh. Nung nawala si Marcus talaga, sabi ni coach kailangan doble kayod tayo. Dahil sobrang dehado tayo kumbaga, wala na tayong import, wala tayong malaki,” forward Marc Pingris said. With Douthit gone, Ping ate up all of his minutes and worked by committee with guys like Ranidel De Ocampo and Japeth Aguilar to fill in the gaps. “As a player naman, kami nagusap-usap kami na kahit anong mangyari, lalaban kami. Yung time na yun, talagang patay kung patay,” Ping added. Despite losing its best player to an untimely injury, Gilas Pilipinas’ confidence in winning never wavered. With their collective backs against the wall, the Philippine national team played even better. Unlike the later iterations of Gilas Pilipinas, the 2013 team, aptly called Gilas 2.0, had the luxury of having actual preparation before the FIBA-Asia Championships. The amount of work that came before the tournament and the Korea game, the bond built over countless hours of training, all of that helped the national team avoid a monumental meltdown in front of a rabid Manila crowd. “We were such a close-knit team in terms of our chemistry, in terms of the talent that we had, so we felt confident even when Marcus went down early in the game. If you looked at our huddle, you had 11 more very confident guys, not just in themselves but more importantly, in each other,” Alapag said. “That just boiled down to the chemistry that we had. I don’t think any of us panicked, we were all confident in each other. We’ve all been into that situation with our PBA teams, having the ball in our hands and making a play. Knowing that we had five weapons on the floor that could make the winning play, I think it made us very confident and we were able to sustain our composure,” the former Gilas captain added. THE GHOST AND ITS CURSE Shin Dong Pa, Hur Jae, Lee Sang-min, Oh Se-Keun, TJ Moon, and Cho Sung-min are just some players from the South Korean national team that inflicted incredible damage to the Philippines over the course of decades. The dreaded Ghost of South Korea takes form in these players and its curse is to give Filipinos the most heart-crushing loss possible. In 2013, the Ghost was Kim Min-goo and his curse was to beat Gilas Pilipinas in Manila. Despite losing Marcus Douthit and trailing by three points at the break, the Philippines started to turn the tables in the second half. Gilas Pilipinas unleashed Jayson Castro and the Blur led a blazing offense in the third quarter, finding a way to take a 10-point lead over South Korea, the Philippines’ largest of the night. But as the dust settled and Gilas holding a 65-56 lead entering the final period, an ominous figure would make his presence felt. The Korean Ghost has arrived and his name was Kim Min-goo. His curse? Beat Gilas Pilipinas in Manila. Kim was 22 and a senior in college when he made the South Korean national basketball team as a backup shooter in 2013. In nine games in Manila, Kim would play well enough to make the tournament’s All-Star team, averaging 12.7 points, 4.1 rebounds, and 2.7 assists. He led Asian Championships with 25 three-point field goals, 10 came in the last two games and five came against Gilas Pilipinas. Kim drilled back-to-back triples to open the fourth quarter against the Philippines. Later, his fifth triple — a four-point play at that — pushed the Koreans to within a point, 72-73. South Korea would take over soon after as Lee Seung-jun dunked the basketball on a fastbreak. The Ghost has arrived and his curse is in effect. “Ako pumasok sa isip ko yun nung lumamang Korea, na putek ito na naman,” Pingris said. “Pero ang sabi ko, sayang yung opportunity, kaya naman eh. So sabi ni Jimmy samin, no matter what happens wag kami gi-give up. Pinaghirapan natin to at may goal tayo, this year aalis tayo,” he added, noting the team’s goal to get into Spain and compete with the world’s best national teams. Faced with the possibility of dealing with a devastating defeat, Gilas had enough mental fortitude to keep things going. Trust your system, trust your preparation, trust your crowd, trust your teammates, and more importantly, trust yourselves. “You’re never out of the game if you’re playing at home,” Norwood said as they stared a deficit late against their destined rivals. “I think that was our mindset, keep it close and just find a way,” he added. Jimmy Alapag found a way. BORN READY Down 73-75, Jimmy Alapag was under heavy duress when he let go of a three-pointer from the left wing just in front of his bench. It was good to go. The Philippines was back on top by one as Alapag somehow managed to get his team to snap out of an initial shock following Korea’s strong fourth-quarter rally. The stage is now set for a wild finish and Jimmy will star in the final act of what has been an incredible show by Gilas and South Korea. “In situations like that, as an athlete and as a pro, that’s the situations that you dream about,” Alapag said. “Those are shots that you practice when you were a kid. When the shot clock is winding down, to have an opportunity to knock down a shot. It’s a shot that I practiced thousands of times,” he added. After the Philippines and South Korea traded baskets for the lead, Alapag made perhaps the most underrated play in this crazy and emotional encounter between two basketball rivals. Tasked with inbounding the ball just near underneath his own basket, Alapag found his Talk ‘N Text teammate Ranidel De Ocampo for an open look at three. Swish. Gilas leads, 81-77, with 91 seconds to go. “Ranidel was my favorite target for a very, very long time in my career,” Alapag said on the play that most people probably don’t even remember. “Once I saw that he got open, I wanted to make sure that I gave him as great a pass as possible and Ranidel has been known for a long time to take care of the rest,” he added. THE EXORCIST “Yeah, I was right under the basket,” Gabe Norwood says with a laugh when asked if he remembers the shot that changed the course of Gilas Pilipinas as a national team. Late in the fourth quarter of what was essentially a heavyweight bout, the Philippines just landed two strong haymakers but South Korea would refuse to go down without a fight, beating the count of 10 each time. Down to the final minute of a crucial grudge match with a World Cup berth on the line, Jimmy Alapag had his hands on the basketball as Gilas would go to its halfcourt set. Jimmy will never let go of said basketball. Up two, Jimmy did what Olsen wished he could 11 years prior. Up two against South Korea in a pivotal semifinal game, Alapag received a screen from Marc Pingris, which was enough to momentarily shake off Kim Tae-sul. With some room, Alapag drifted to his left and let a three-point shot fly. Boom. Gilas leads, 84-79, with 54 seconds to go. The shot would later be remembered as the one that ended the Korean Curse, the one that finally exorcised the Ghost. “The first thought that came to my mind was don’t miss,” Jimmy said of the clutch jumper. “That last one, Ping sets a good screen and I got a clean look. It’s a shot that myself, and Jayson [Castro], and Larry [Fonacier], and Gary [David], and Jeff [Chan], all of us, we practice that shot time and time again after practice. So you know, it was a shot that I was confident in but in that moment, all you’re thinking about was don’t miss,” he added. It’s one thing to be confident in yourself and to be confidednt in your preparation. It’s a different thing to actually perform under such pressure. As soon as Alapag managed to shoot his shot, Gabe Norwood did what any other good teammate would do and got in position to get the offensive rebound. You know, just in case. Gabe got the ball alright, but he got it after it swished through the rim. “When he put the shot up, I tried to crash for the rebound but I basically knew that it was going in,” he said. “I had probably the best view, I was right under the basket. I think caught it after it went through too,” Norwood added. Alapag checked out moments later as the Philippines went to its defensive lineup in order to stop another Korean comeback. South Korea turned to its most effective shooter in Kim and as he rose up to try and answer Alapag’s triple, Norwood met him at the apex for the game’s most dramatic stop. Gabe blocked Kim and Gilas would finish things off with a final Marc Pingris basket on the other end. A historic 86-79 win was complete. “I still get chills thinking about it, to look up and see grown men just breaking down. My wife was trying to hold my kids and she was holding back tears. It was just an awesome moment, the bond that we had on that team, the stuff that we did to get prepare, I think we poured it all out in that game,” Norwood said on the monumental victory. “I think it probably didn’t hit me until the final buzzer sounded. Not just for me but for the entire team, when that final buzzer sounded, it was such a special group of guys and the fact that we could share that moment with not just with each other but the entire country, it’s something I’ll remember for the rest of my life,” Alapag added, savoring the moment of a Philippine win over Korea 28 years in the making. THE INTRODUCTION Gilas Pilipinas would lose to Iran the next day in the Finals of the 2013 FIBA-Asia Championships. The Philippines put up a fight but Hamed Haddadi would prove to be too powerful to stop. It would take another two years for Gilas to beat Iran but that didn’t really matter in the moment. The Philippines is headed to the World Championships for the first time in three decades. The Philippines has beaten South Korea and one singular shot has allowed the Gilas name to be known around the world. Jimmy wouldn’t say that though. At least not directly in that way. “For me, that shot was the biggest for my career. But really, it was our entire team. We’ve gone through so much and that was just one particular play that really culminated the entire game and all the contributions from other guys from Gabe’s defense, to Ping’s rebounding, to Japeth’s rim protecting, to Jayson and LA doing a lot of the legwork,” Alapag said. “Everybody had their part in contribution to the game. After the shot, after the buzzer sounded, it was just a very special moment for us as a team and for Philippine basketball to show that all of the sacrifices, all of the hard work, now it’s given an opportunity to re-introduce ourselves to the world,” he added. Jimmy wouldn’t say it, but his teammates would. That shot of his that beat South Korea in the 2013 FIBA-Asia Championships introduced the Gilas name to the world. It announced that the Philippines has finally arrived. Gilas’ breakthrough overtime win a year later in Spain against Senegal — a game Jimmy pretty much decided late as well — made it known that Filipinos are here to stay on the World stage. “I would say so, it got us to where we wanted to be in the World Cup. I think we shocked some people there as well. But just the work that went in, I think it showed the country that we can get back to where we want to be as long as you work together,” Norwood said. “Yung puso ni Jimmy, grabe naman. Makikita mo maliit pero gusto lang niya talaga manalo. Ang liit pero parang lion pag nagalit eh, nandoon yung tiwala namin sa kanya. Ano pa ba masasabi mo, Jimmy is Jimmy Alapag,” Pingris would add. [NOTES: At the time of original publishing, Gilas Pilipinas was fighting to make a return trip to the FIBA World Cup, this time in China in 2019. To secure its slot, the the Philippine national team needed to beat Kazakhstan in Astana plus a loss from Japan, Jordan, and/or Lebanon. One of the teams that can help Gilas is South Korea... ironically. Jimmy Alapag retired from national team play in 2014 and retired playing for good in 2016. He has since made himself a champion basketball coach in the ABL. Marc Pingris suffered an ACL injury in 2018 and is in the process of returning for his PBA team in the current 2019 season. Gabe Norwood is still in Gilas. He’s still an effective two-way weapon. He can still dunk and will stop your best player too.] [Updated Notes: The Philippines beat Kazakhstan to make the 2019 FIBA World Cup in China. Gilas got help from... South Korea. The Koreans beat Lebanon on the road, allowing Gilas to advance to the World Championships outright with a victory over Kazakhstan.] — Follow this writer on Twitter, @paullintag8.....»»
Marcos Jr. eyes stronger maritime ties with India
The Philippines is seeking stronger maritime security cooperation with India to ensure the safety of seafarers from both nations as the world’s oceans are becoming more dangerous for commercial shipping, President Marcos said......»»
2 ex-James Bond actors approve of Aaron Taylor-Johnson as next 007
Former James Bond actors George Lazenby and Pierce Brosnan have stated their approval for Aaron Taylor-Johnson should the latter be the next individual to carry the Agent 007 mantle......»»
BTr raises P120 billion from T-bond sale
The government raised the entire program of P120 billion in long-term securities this month even as investors’ asking rates were mixed......»»
Marcos admin eyes building 20 new dams by 2028
To meet the country’s growing demand for water and power, the government is eyeing to build 20 medium and three to five large dams by 2028, the end of President Marcos’ term, according to National Irrigation Administration head Eduardo Guillen......»»
Big 4 Volleyball tilt marks successful inaugural season, eyes bigger tourneys soon
CEBU CITY, Philippines — The Big Four Volleyball Tournament wrapped up last weekend successfully at the Warehouse Sports Lab in Mandaue City. This grassroots volleyball tournament saw inaugural champions being crowned. The Subangdaku Trojans emerged as champions in the 13-under and the girls 14-17 divisions, while Cabancalan National High School ruled the 14-17 boys division. .....»»
CARD MRI plants 750 mangrove trees in Oriental Mindoro
CARD Mutually Reinforcing Institutions (CARD MRI) planted 750 mangrove trees in Brgy. Baruyan, Calapan City, Oriental Mindoro on October 7, 2023......»»
NEWS BRIEFS | 25 March 2024
Senate eyes probe of resorts within the slopes of Mt. Apo Following the controversy involving the establishment of a resort reportedly within the famed Chocolate Hills in Bohol province, Senator Raffy Tulfo, chair of the Senate Committees on Energy and Migrant Workers, is setting his sights on the resorts located on the slopes of Mt. […].....»»
Shohei Ohtani says interpreter stole money, denies knowledge of gambling debts
Shohei Ohtani says he was unaware Ippei Mizuhara had gambling debts and that he had been lied to repeatedly by the interpreter who had been by his side since he joined Major League Baseball in 2018.....»»
Old habits die hard
In a 2018 article, I wrote about how I spent most of my weeknights playing video games and streaming random TV series, reality shows and movies......»»
PUBG Mobile continues steady rise in Philippines
PUBG: Mobile has been a steady shooting game that Filipinos have been playing since its release back in 2018. Since then, the game has had Filipino-centric initiatives in 2022......»»
Government cuts borrowings to P203 billion in January
The Marcos administration slashed its borrowings by 45 percent to P203 billion at the onset of the new year in the absence of new global bond offerings.......»»
The iris reveals it all
William Shakespeare once said, “The eyes are the window to your soul......»»
Expelled solon Teves eyes political asylum; detention extended
The legal team of expelled lawmaker Arnolfo Teves Jr. is looking to exhaust all legal remedies possible, including political asylum in Timor-Leste, Teves' lawyer Ferdinand Topacio said......»»
Asialink eyes P2.4 billion in truck loans as e-commerce grows
Asialink Finance Corp. is looking at lending as much as P2.4 billion this year to the fast growing market for brand new and used trucks that are essential to the growth of e-commerce and logistics......»»