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SM Prime& rsquo;s profit fell 48% to P14.4 b in 1st& nbsp;9 months

Property developer and shopping mall operator SM Prime Holdings Inc. said Monday net income dropped 48 percent in the first nine months to P14.4 billion from a year ago, even as the company reported a slight recovery from the impact of the pandemic in the third quarter......»»

Category: sportsSource: abscbn abscbnOct 26th, 2020

Eagle Cement& rsquo;s net income declined 92.5% to P128 million in 2nd quarter

Eagle Cement Corp., a fully-integrated cement company led by businessman Ramon Ang, said Monday second-quarter net profit fell 92.5 percent to P128 million from P1.7 billion in the same period last year as the lockdown in Luzon  aimed to curb the pandemic affected the overall business......»»

Category: sportsSource:  abscbnRelated NewsAug 10th, 2020

Pro-bound Eumir Marcial could make debut by October

After signing his MP Promotions contract earlier this month, there already seems to be a number of plans in place for Eumir Felix Marcial.  While Marcial is taking steps towards his professional career, the 24-year old decorated amateur pug has maintained that his prime objective right now is to bring home a gold medal for the Philippines in the Olympics. (READ ALSO: Eumir Marcial set on going pro but maintains Olympic gold medal is top priority) Marcial secured his spot in the Tokyo Olympics before the COVID-19 pandemic forced oa postponement of the Summer games to 2021.  Keeping that in mind, MP Promotions appears to be all-in on making Marcial’s gold medal dream into a reality, and that includes gearing his professional training towards becoming the best version of himself in time for Tokyo.  “We have a lot of great things in store, getting Eumir’s career going, we’re bringing him to the US, we’ll train him here, working under some of the top trainers and good sparring, and we’re really just kind of focused on the for first year is winning that gold medal, so everything we do leading up to Tokyo, when he has a few professional fights, is gonna be with in mind that we keep everything good for Tokyo,” explained MP Promotions President Sean Gibbons on Tuesday’s PSA Forum.  With about a year before Tokyo, Gibbons hopes to have Marcial compete in around three professional bouts starting this October.  “We’d hope to possibly have about three fights, because you have about nine months, you have a year before the Olympics, almost to the day right now, but I think you have to stop about three months before, so hopefully, we’ll do something in October, and then we’ll work from there, hopefully three fights before he has to stop and go fully concentrate on the Olympics.”  Gibbons maintains that for now, all of Marcial’s moves will have his Olympics appearance in mind, meaning that his first few pro bouts will likely be 4 to 6-round contest, which is similar to what he’ll be competing in at the Summer games.  To start out, just [4 and 6-rounders] because again, we’re trying to keep in line with what he’s going to be doing in Tokyo, so everything is geared towards preparation for that, and that’s why you start off with a 4 or 6-rounder, then another 4-6 depending again, we have to talk to Eumir, talk to his coaches, talk to everybody, but the idea is to sharpen up a lot of out-of-competition, not the actual fights itself, but all the training he’ll do and, let’s say when he comes to Los Angeles, all the different types of sparring and whoever we work with, along with his coaches,”  Gibbons also gave credit to Marcial’s current coaching team with the National Team, coach Ronald Chavez and coach Don Abnett, the men who have helped transform Marcial to the decorated amateur star and prospect that he is today.  “That’s one of the things I want to say also:  he’s had very good coaches so far, they’ve done very well, so we’re going to adapt whatever Eumir wants, with his coaches, whoever the team chooses in LA to work with,” said Gibbons.  “Yung gusto ko parin kasi, yung makasama ko sa training yung coaches ko, yun parin yung gusto ko makasama dito,” explained Marcial. “Sila pa din yung gusto ko makasama dahil siyempre, Olympics parin, ito parin yung pinag-hahandaan natin, so yun yung gusto kong makasama na mga coach, kasi siyempre amateur parin yung lalaruin natin doon, and gusto ko parin ma-maintain yung style ko yung paano mag-laro sa amateur.”  The commitment to the Olympics, Gibbons says, is something that Marcial has been focused on.  “Eumir has always told me, ‘I promised my dad, I promised the country that I’m gonna win the gold medal.’, so that’s what were doing everything to start the career with, in mind to get better to beat the guy from Ukraine, to beat the Russians, to beat those guys.” As for weight class, Gibbons says that Marcial should be competing around 160-162-pounds or at middleweight in order to keep him in the same division as the one he'll be competing at in the Olympics.  "It appears that we’ll probably  be doing it at middleweight, 160-pounds right in there, 160-162-pounds because again, Eumir is fighting in the Olympics at 165-pounds, that’s 75 kilos, and again, you don’t want to take a guy too low when you’re basically just preparing everything for Tokyo. Somewhere around the weight that he’s been fighting at as an amateur."  .....»»

Category: sportsSource:  abscbnRelated NewsJul 21st, 2020

Kat Tolentino: How she ended up as a Lady Eagle

Suffering an injury is a dreadful experience for any athlete. What more if it’s a career-threatening one? Kat Tolentino went through three harrowing knee injuries in a span of three years – two of those she suffered while in Canada. But those misfortunes played a big role in convincing Tolentino to fly to the Philippines and eventually become one of the most recognized names in collegiate volleyball. The Ateneo de Manila University volleyball star in an interview on So She Did podcast shared how she ended up in the Lady Eagles' nest.   “It was actually a long story but basically, when I was in Grade 11, my brother was out there in the Philippines already, he was playing basketball for Ateneo and I was just visiting him for vacation,” said Kat, sister of former Blue Eagle Vince. The Ateneo volleyball management that time already knew who the 6-foot-2 spiker was and she was invited to train with the then Roger Gorayeb-mentored Lady Eagles. “I actually don’t even have the shoes at that time or any like knee pads,” she recalled. “So I have to borrow from my cousin and then I borrowed knee pads from the men’s team.” She played with the team but it didn’t convince her to follow the footsteps of her brother, living alone in a tropical country that is thousand of miles away from home. “For me I was in Grade 11 at that time and I didn’t really think like, ‘Oh I want to go to the Philippines’. In fact, I was kind of confused why my brother moved there,” said Tolentino, who is currently back in Canada after the cancellation of the UAAP Season 82 due to the coronavirus (COVID-19) pandemic. “I think, it’s just crazy because at that time, I was getting mad at my mom because I was like, ‘Why are you making me move to the Philippines?’ I was only like Grade 11,” she added. Tolentino that time wasn’t ready to get out of her comfort zone. Naturally, she chose to stay in the Great White North. Tolentino was in University of Canada when she suffered her second left anterior cruciate ligament injury in 2014, a year after her first.    “I went to University in Canada for one year and I don’t know if you know that I had three ACL injuries. So the second ACL injury, I was in University in Canada but I just decided after I got the second one in Canada, I needed change and I wanted to experience something different,” she said. Tolentino thought a new environment might change her fortune. Luckily, the Lady Eagles’ door remained open. “Ateneo contacted me when they heard I got injured again,” she said. “They said that they’re still willing to help me and wanted to help me with my rehab and therapy and they had a very good surgeon. So yeah, they just called up and I ended up there.” The hype was high for the Fil-Canadian when she finally got the chance to don the blue and white when the then two-time UAAP champion Ateneo joined the now defunct Shakey’s V-League Collegiate Conference in July 2015. But the injury bug followed her to the Philippines and once again bit Tolentino hard. The hitter suffered a right ACL injury while warming up and had to undergo another operation and months of rehabilitation. She was forced to miss UAAP Season 78 and watched helplessly from the sidelines as archrival De La Salle University dethroned the Lady Eagles. After months of therapy, Tolentino finally made her official debut in the UAAP in Season 79 in 2017 – a victorious welcome over University of Sto. Tomas. Ateneo fell short in the Finals that year. The following season, the Lady Eagles missed the championship entirely for the first time in six years. In Season 81, Tolentino helped Ateneo capture its third title. She announced after winning the crown that she’s leaving the team but decided to make a return for a swan song this year. Unfortunately, the league cancelled the tournament after just four playdates. Asked if she’ll be back for another tour of duty if given the chance, Tolentino admitted that she’s still thinking about it. “I think for me it’s not something I can decide now,” she said. “I would be thankful if they would allow me to go back but I can’t say anything right now.” Looking back, Tolentino would like to think that her second ACL injury brought her to Ateneo. It wasn’t the best of situation to be in to make a life-changing decision but it in the end it turned out just fine.   --- Follow this writer on Twitter, @fromtheriles.....»»

Category: sportsSource:  abscbnRelated NewsJun 22nd, 2020

Ateneo s Fab 5: The Fearless Underdogs of UAAP Volleyball

(This story was originally published on April 20, 2018) Newly-appointed head coach Roger Gorayeb looked at his line-up heading into UAAP Season 71. A champion mentor of NCAA powerhouse San Sebastian College - Recoletos, Gorayeb had in his hands a gargantuan task of rebuilding the Ateneo de Manila University women’s volleyball program. Just a few months before, Ronald Dulay, the mentor before him, landed a trio of blue chip recruits who were fresh from a successful stint in the Palarong Pambansa. Angeline "Dzi" Gervacio, Fille Saint Cainglet and Jamenea "Jem" Ferrer just joined the Katipunan-based squad. Gervacio and Cainglet were products of St. Scholastica's College in Manila while Ferrer was a gem from Hope Christian School under girl’s volleyball guru Jerry Yee. Looking at his 15-woman line-up with the season just a few months ahead, Gorayeb knew he needed to do something drastic. The roster just won’t do. Talking to then athletic director Ricky Palou and team manager Tony Boy Liao, the mentor told the team officials that he intended to cut five players from the list. One could just imagine the shock in their faces. “Nakita ko may line-up pero player-playeran lang yung ganoon bang tipo, 15 ata yun. Sabi ko ‘Magtatanggal ako ng lima then magre-recruit ako,’” he said. The three rookies were in. Middle Bea Pascual, Kara Acevedo and libero Steph Gabriel retained their spots. He needed more. “Sa mga tinira kong players, si Kara Acevedo sabi niya, ‘Coach mayroong player ang ICA (Immaculate Conception Academy) na gumraduate naka-exam na rito pasado.’ Sabi ko, ‘Sige papuntahin mo,’” said Gorayeb. It was Gretchen Ho. “Sa akin kasi ang talagang nagyaya sa akin si Coach Ron Dulay. Si Kara Acevedo teammate ko and she’s been recruited by Ateneo. So one summer wala akong magawa naki-train lang ako noon tapos nagustuhan nila ang laro ko and then fourth year noong graduate na ako I passed the ACET then niyayaya na nila ako,” Ho said. “Then nagbago ng coach na si Coach Roger and dun niya ako nakita.”   “Pagdating ko ng March (sa Ateneo) wala na akong way para maka-recruit pa. Ang nangyari yung tatlo accepted na kaagad. Si Gretchen tinanong ko sabi ko, ‘ano ba ang laro mo?’ Sabi niya the usual panggitna, tres,” Gorayeb recalled. “So sinubukan ko pero ang laro niya tres hindi quick. Siya panggitna pero hindi quicker na gusto ko saka yung height niya (maliit). Kaya lang si Gretchen takbo ng takbo, mahilig magtatakbo so sabi ko sige pwede na yan. Wala namang player na during that time. So kinuha ko si Gretchen.” Gorayeb just needed just one more. “Ngayon nagkaroon ng STCAA (Southern Tagalog Calabarzon athletic association) eh kulang pa ako ng isa, wala akong panggitna. Ang gitna ko during that time si Bea lang tapos si Gretchen so wala akong pamalit. So naisipan ko may nakita ako sa STCAA,” he said. He spotted a lanky player from Canossa Academy-Lipa, Aillysse Nacachi. “Sabi ko kay Sir Tony pagtyagaan ko na lang ito kahit hindi naman kalakasan at wala naman na rin akong choice na makapili kasi rush ang pagdating ko dyan. Nakiusap lang sila sa akin na magbuo ako ng team kasi si Ronald nag-resign,” said Gorayeb. Another freshman could’ve had ended up with Ateneo, Hope’s libero Melissa Gohing. But a few obstacles prevented her from fulfilling her promise to join Ferrer in Ateneo. She instead chose to join the ladies in green and white in Taft.    SOMETHING PROMISING December 7, 2008. Far Eastern University Gym. Excitement filled the air. Fans, mostly volleyball purists and some who just came to support their classmates or were just curious to see a new spectacle after the basketball season ended, slowly settled in their seats for the women’s division’s second game. It was Adamson University, the previous year’s runner-up, which just visited the turf of their arch nemesis and defending champion FEU, which was led by that era’s finest and most popular volleybelle Rachel Anne Daquis. Fans wanted to see if the Lady Falcons still had the same firepower they had the previous season with the loss of top setter Janet Serafica and power hitter Sang Laguilles. A rookie-laden Ateneo squad should be easy pickings with Angela Benting, rookie Pau Soriano and libero Lizlee Anne Gata in the roster. Besides the Lady Falcons got the Lady Eagles’ number. Or so they thought. “Naalala ko nu’ng time namin sinasabi sa amin ng seniors namin na, ‘Hay naku ang lakas ng Adamson, never kami nanalo dyan,’” Cainglet, now happily married to Taguig mayor Lino Cayetano and with three beautiful children, recalled.  But the Lady Eagles stunned Adamson in the opening set. The Lady Falcons took the next two frames. Ateneo stole the fourth.  “Ako naalala ko ano eh, parang alam namin na lahat kasi kami palaban. Nasa amin yun. Tapos binigyan kaming lahat ng chance to be in the first six so parang dream come true,” said Ho, now an ABS-CBN host. “Naalala ko rin na palaban kaming lahat kumbaga nothing to lose eh so ang ano namin, sumasabay kami sa laro and nu’ng nakita na namin na ‘Ay kaya pala natin ‘to guys. Kaya pala naming lumaban.’” Still, Adamson had the upper hand in experience. The Lady Falcons, used to pressure and were steady at crunch time, outlasted Ateneo.           The young Katipunan-based squad fell short, 25-22, 22-25, 15-25, 25-15, 8-15. But for the Fab 5, it was a loss that felt like a resounding victory. “Parang sobrang natutuwa kami and everybody in the crowd, kaya siguro kami natawag na Fab 5 kasi rookies kami pero kahit ganoon palaban kami,” said Ho. “Saka close game. Five sets yun.” However, it was the first of five five-set matches that Ateneo will drop that season including one in the second round against the Manilla Santos-bannered De La Salle University. “Pero ang problema di kami nananalo ng five sets. Parang ilan lang ang naipanalo namin na ganoon. Feeling ko na-overwhelm kami na ‘Uy nananalo tayo.’ May ganoong disbelief ng konti pero alam namin na may ibubuga kami,” said Ho. “Definitely, our rookie season was full of five-set matches. It was tough, we felt like we were so close, but still so far away. At some point, it gave us frustration also. We just couldn't figure out that time what is it that's still lacking because we couldn't win the five-set matches,” according to Nacachi. “People said, it was because the team was still so inexperienced. We still didn't have the tenacity unlike of those more matured teams. But we didn't take it as bad, it was a learning experience for us all at the end. We had to learn how to develop that finishing will to be able to win games like that in the future.” The Fab 5 finished their rookie season with a 6-8 slate at fifth spot.   ‘MAY MEDAL NA TAYO’ Gorayeb remembered on their second year the look on Pascual’s face in their last elimination game match against Adamson. Already wrapping up their first win over the Lady Falcons, Pascual was giddy. “Natatawa nga ako dyan kay Bea kasi papanalo na kami nu’n tapos sumesenyas na siya ng tres. Sabi ko, ‘Hoy anong ginagawa mo?’ Yun pala sobrang saya na niya kasi for the first time in 30 years magkaka-medal na sila,” he said. It was the most important match of the season for the Lady Eagles. With the Fab 5 already in their sophomore year, Ateneo was already making great strides. The Lady Eagles closed that season’s elims with five straight wins capped off with a victory over Adamson. Ateneo posted a 10-4 win-loss mark to enter the Final Four legitimately. “Ang nangyari kasi nu’ng time nila Charo (Soriano) kaya sila nakapasok sa semis kasi may nag-squeal na si (Jacq) Alarca di pala naka-enroll nu’n kaya na-forfeit mga laro ng La Salle,” said Gorayeb. The Fab 5 proved that they were not just a bunch of much-hyped up pretty faces. They backed it up with their skills on court. It didn’t matter that Ateneo were swept by eventual champion University of Sto. Tomas in the Final Four.      But the podium finish of Season 72 was short-lived. Adamson got its revenge in the last game of Season 73 elims, bumping off the Lady Eagles for a podium finish. The loss put Ateneo in a collision course with the twice-to-beat DLSU, who could’ve completed an elims sweep if not only for a forfeited match against University of the East after UAAP found out that Carmela Garbin and Clarisse Yeung participated in a ‘ligang labas’ while the season was onoing, in the Final Four. Ateneo gave the Lady Spikers a scare before succumbing in another heartbreaking five-set match. The Lady Eagles finished fourth but that lone semis game gave Ateneo and its maturing Fab 5 enough experience to dream for something big – A ticket into the Finals.      ‘HINOG NA KAYO’ The first three years saw the gradual improvement for Ateneo. But Season 74 proved to be the turning point for the Fab 5. A fresh new recruit from University of Sto. Tomas high school, who just completed a year of residency, came into picture and with the Fab 5 armed with years of experience, the Lady Eagles’ fate will forever be changed. Alyssa Valdez, a highly recruited open spiker just like Gervacio, Cainglet-Cayetano and Ferrer years back, gave renewed excitement for the Ateneo faithful. “Alyssa's joining with Ateneo was a great turning point for us. We needed as much support we can get, and Alyssa's entrance to the team was a great boost to the team's morale,” said Nacachi. “The girl is a powerhouse and we felt like with her presence, the team finally became solid.” “We were able to play around with the positions and the rotations, since we had different versatile open players who can also greatly play other roles,” she added. “We were also able to formulate a lot of plays and attacks because Alyssa can generally do all kinds; open, running, quick, name it all. She gave the team the power and the versatility that we previously lacked from the past seasons.” Social media was just gaining traction then but the Lady Eagles were already on the radar of volleyball purists through online forums. For the first time, Ateneo was considered a legitimate contender.   The Fab 5 proved it by winning 11 games in the elimination round, losing only to UST once and dropping two against the Lady Spikers. Valdez’s arrival gave Ferrer an even broader option on offense. It eased the scoring load off the shoulders of Cainglet and Gervacio, who was then moved to an opposite position. “I guess sakto lang din yung dating niya because by that time Kara Acevedo graduated so someone had to fill in her spot so coach Roger decided for me to move to utility or opposite,” said Gervacio. “And then sakto Alyssa naman could fill in the spot na other open spiker.” “So timing din na we had all the pieces put together at the right time,” she added. With a good performance in the elims despite missing a legit middle in Bea Pascual and the entry of Aerieal Patnongon barred by academic problems, Ateneo finished second and for the first-time was armed with a twice-to-beat advantage in the stepladder semifinals. The Lady Eagles faced an experienced Tigresses side in the last stepladder semis stage. UST just came from a hard-fought four-set do-or-die match against FEU and were banking on their four-set win over Ateneo in the second round to force another sudden death. Ateneo’s date with destiny was sealed with a four-set win over the Tigresses, who then bid goodbye to Maika Ortiz and Judy Anne Caballejo. “Pinu-push na rin kami ni Coach Roger noon eh, ‘Hinog na kayo ngayon. Kasi dalawang taon na lang, kailangan makapasok na kayo sa Finals,’” said Ho. “Somehow senior na rin kami,” added Cainglet.  “Season 74 was really the target season for us to be in the finals and target even to win the championship,” according to Nacachi. “During this time, we were already thinking we could not afford to not go in the finals.” “So it was with our mindset and our level of commitment that we were able to finally reach our goal of reaching the finals,” she added. “We had enough experience that time already, and it was really time for us to show the level of game maturity the team had obtained from the past seasons.” But then they had to face an unbeaten team. Unscathed in 14 games, De La Salle University was poised to complete a perfect season. The Lady Eagles spoiled it. Ferrer outplayed DLSU setter Mika Esperanza, 57-42, in excellent sets as Ateneo handed the Lady Spikers its first loss after 25 straight victories in a come-from-behind 23-25, 28-26, 25-23, 25-17, Finals opener win. Witnessed by 3,002 spectators inside the then The Arena in San Juan, all of the Fab 5 produced points. Cainglet had 19 behind Valdez’s 24, Gervacio scored 12, Ho had 10, Nacachi finished with five while Ferrer had one. Gorayeb made a big gambit and it worked. “Dahil sa wala kong panggitna, yung laro namin ng La Salle, ginawa kong quicker si Alyssa. Kasi si Alyssa nakakapalo. Nagulat si Ramil (de Jesus) dun.” It was a big win. A huge upset. Unfortunately, Ateneo needed to win two more.  DLSU held a thrice-to-beat advantage.   THAT SWAG After Ateneo made a miracle in Game One, fans began to feel a new rivalry born. The attendance spiked. From just 3,000 spectators, the gate attendance more than doubled its size. The interest was there. Fans of traditional powers began to notice the Lady Eagles as a rising team. For the first time, a squad with no previous championship experience except for a title during the Marcos era in a different collegiate league, made a giant jolt. Everybody wanted to see what these girls would do next.    The Lady Eagles, still high on adrenaline after their Game 1 upset, took the opening set in Game 2. But just like in their opener, a well-experienced DLSU squad adjusted to take the next three frames to move a step closer to a repeat crown. With then Rookie of the Year Ara Galang, Season Most Valuable Player Aby Marano, an intimidating Michele Gumabao and a very efficient Finals MVP Cha Cruz teaming up for the kill, the Lady Spikers ripped Ateneo apart in Game 3 in straight sets, 25-16, 25-22, 25-13. “Sabi nga ni Dzi na nadyan na lahat eh. So I guess noong Season 74 nandoon na pero may kulang pa rin,” said Ho. “I guess we we’re able to make it to the Finals pero wala pa kaming championship experience.” Ferrer agreed. "Siguro ang kulang yung championship experience kasi nasa La Salle na ‘yun eh. Ilang years na silang nagpa-finals, nag-champion and for Ateneo doon pa lang namin sinimulan," said the three-time Best Setter. Lacking championship experience is one thing, but Ateneo during that time wasn’t ready for DLSU’s most feared weapon: the Lady Spikers’ swag.  “They have that swag,” said Gervacio. “Everyone knows about it naman. It’s really Coach Ramil’s style talaga kasi as I remember when we were first year, four out of six of the players inside the court were rookies and even if we go against the powerhouses UST, FEU, Adamson, hindi sila yung nakikita nyo na kapag championship na rivalry, na swag, angas, stare down. Pero La Salle talaga kahit sino ang kalaban nila they’ll bring that attitude inside the court.” That Finals series cemented a new rivalry that will become one of the most celebrated in the sport. “I think it also helped that Ateneo-La Salle basketball didn’t face also,” said Gervacio. “Siyempre nandoon ang hunger for the rivalry eh and timely din na its been Ateneo-La Salle na rin sa volleyball.”   CLOSING A CHAPTER The Fab 5 were now in their fifth and last year. They wanted to leave a winning legacy. The pieces were already there. Gorayeb had at his disposal five seniors, a rising star in Valdez, a sophomore middle in Amy Ahomiro, a versatile Ella De Jesus, a steady libero in Denden Lazaro and a new kind of weapon – a massive crowd that can turn any venue into a sea of blue.              As expected, the second installment of the Ateneo-DLSU rivalry was set into place. Both sweeping their semis opponents. The Lady Spikers crushed National University while the Lady Eagles shot down Adamson. Game One was a shocker. DLSU heading into the Finals are on a 14-game roll but were stunned in the first two sets with Ateneo stepping on the gas. But a string of miscues, mostly from the service line, did the Lady Eagles in as they allowed the Lady Spikers to force a decider. DLSU, smelling blood, punished Ateneo to eke out a 20-25, 17-25, 25-22, 25-22, 15-6, victory inside the Big Dome witnesses by 17,342-strong gate attendance. Then the series transferred to a newly-built, state-of-the-art Mall of Asia Arena that drew a crowd of 18,799. The first two frames were frustrating for the Lady Eagles.   Ateneo came back to life in the third set to gain a 9-5 lead. But DLSU easily erased it with Ateneo crumbling under pressure. The Lady Spikers were on an onslaught. Sophomore Galang pushed DLSU at matchpoint with a cold-blooded ace that went in a few inches from the baseline. The score, 24-16. It was a tense moment for the Fab 5. A long rally ensued in the next play. Gervacio, with all her might pounded a kill. Her hand making a great contact on the ball off Ferrer’s backset.     Smack! The ball ricocheted off the hands of DLSU’s Wensh Tiu before falling on the same landing area of Gervacio, who tried to dive for a dig together with Lazaro. DLSU swept Ateneo, 25-23, 25-20, 25-16. Game over.          “Kahit hindi kami nanalo alam naming ibinigay namin ang lahat namin, all-out talaga kaya wala kaming pagsisisi,” said Ho. It was the end of the Fab 5 era, but they left more than what any of them could have imagined. "I remember so many people or fans telling me that they started really watching UAAP Volleyball because of our batch. And that is really touching and fulfilling to know. Knowing that you were able to leave an impact like that to people. We were not able to bring even a single championship to our school, Ateneo, but we were able to touch a lot of people's hearts despite that," Nacachi shared. The Fab 5 closed a colorful chapter of Ateneo volleyball in tears. They were there during the Lady Eagles’ birth pains. They labored. They shed tears, blood and sweat. They laid the foundation for something big. The Fab 5 planted the seeds that would eventually bear fruit and would change the course of Ateneo women’s volleyball program forever. Glory didn’t happen during their time. It started in theirs.    Amidst the roar of the crowd, the falling confetti, banging of drums and the echoing chant of ‘Animo La Salle’ from the sea of green, the Fab 5 hugged each other tight. They found comfort in each other. It was their time to say goodbye. For those who remained – Valdez, Lazaro, Ahomiro, De Jesus – the defeat added fuel to their already blazing desire to bring glory for the blue and white. They were the next in line, heirs to an unfinished business. WATCH: FAB 5 Reunion Part 1 and Part 2 --- Follow this writer on Twitter, @fromtheriles.....»»

Category: sportsSource:  abscbnRelated NewsMay 24th, 2020

POC supports late 2021 SEA Games staging

With the Tokyo Olympics reset to 2021 because of the coronavirus (COVID-19) pandemic, the Philippine Olympic Committee will support Vietnam’s initial target of hosting the Southeast Asian Games in November. POC president Bambol Tolentino in a statement on Wednesday said that it is ideal that the biennial meet be held months after the Summer Games. “We will recommend that Vietnam hosts the 31st SEA Games during the latter part of the year,” said Tolentino Vietnam is reportedly looking at holding the 31st edition of the SEA Games from Nov. 21 to Dec. 2. However, Tolentino cleared that the SEA Games Federation has yet to approve the date of the regional sports meet. “Vietnam has yet to get the SEAG Federation’s official/formal approval. But we will support the dates,” Tolentino said. The International Olympic Committee made their decision to postpone the Olympic Games to 2021 in a yet to be determined date after talking to Japanese Prime Minister Shinzo Abe and local organizers Tuesday night (Manila time). “Those dates provide enough window from Tokyo which could be in the July-August period,” Tolentino said. Vietnam has set a SEA Games meeting with officials coming from participating countries in Hanoi set on May 20-21 to present its program and Games calendar. The incoming host nation has yet to announce whether it will push through with the meeting or reset it to a later time with the world still battling the contagion. The Philippines hosted the 30th staging of the SEA Games where the country won as overall champion for the second time since the 2005 edition, also held in Manila, with a 149-gold medal haul.    .....»»

Category: sportsSource:  abscbnRelated NewsMar 25th, 2020

1st Philippine Cerebral Palsy Football Team to compete in upcoming ASEAN ParaGames

The Philippines is about to field its first cerebral palsy football team in the ASEAN Para Games. Known as the CP Rascals, the team was formed last year by the Henry V. Moran Foundation, the non-profit organization that has long focused on developing football programs for public school youth in the country. “Our search for players started in March last year after we were appointed by the PHILSPADA (Philippine Sports Association for the Differently Abled) to form a team to represent the country in the 10th ASEAN Para Games. Our special football arm, CP Football Philippines, toured 12 cities, coordinating clinics and tryouts with the heads and officers of local government units. By July, we had discovered some players and training for the team began,” said Danny Moran, head of the Henry V. Moran Foundation. The CP Rascals currently has 12 members, with plans to add two more before the ASEAN Para Games  Moran said that they are grateful for the support that private organizations have given for the new team players and coaching staff. He cited insurer Allianz PNB Life, in particular, for providing the CP Rascals’ life, medical, and travel insurance. “Our main concern was life and accident insurance as bringing football to persons with disability has its risks, especially since training would be from 3 to 6 months,” Moran said. Aside from the insurance coverage, Allianz gave cash support for the CP Rascals’ football camp and housing. “It is our honor to support a team that embodies Allianz’ ideal of overcoming life’s challenges in fulfilling one’s dreams. We are giving our para athletes the support to help them achieve their goals in their chosen sport, and we are looking forward to cheering them on in the 2020 ASEAN Para Games,” Allianz PNB Life Chief Marketing Officer Gae Martinez said. This is not the first time that Allianz and the Henry V. Moran Foundation have worked together in promoting football in the country. For the past three years, they have staged the Allianz National Youth Futsal Invitational (ANYFI), a grassroots football program held nationwide. Some of the kids who have participated in the program have gone on to train at the Allianz Explorer Camp in Germany under FC Bayern. Moran added that it is their dream to continue strengthening the CP Rascals so that they can also participate in the 11th ASEAN Para Games in Vietnam in 2021......»»

Category: sportsSource:  abscbnRelated NewsFeb 14th, 2020

Manny Pacquiao’s return to glory highlights Boxing in 2019

Apart from basketball and football, arguably no other sport dominates the global headlines quite like ‘The Sweet Science’. Such was the case once again in 2019, as the sport provided some pretty big stories, including a couple of returns to glory, some continued dominance, and even a pretty epic upset. Here are some of boxing’s biggest hits in 2019:   Manny’s Back! Well, okay, maybe it wouldn’t be right to say that he’s in his prime, but Manny Pacquiao definitely showed that in 2019, he can still hang with the best. The 41-year old eight-division world champion showed just that at the start of the year when he dominated Adrien Broner in Las Vegas to defend his WBA (Regular) Welterweight World Championship. Then, just six months later, Pacquiao did even better by dethroning the previously-undefeated Keith Thurman for the WBA (Super) Welterweight World Championship. With Pacquiao’s recent resurgence, so to speak, more and more possible big money bouts are being discussed, but the whispers that continue to be prevalent are those of a rematch with Floyd Mayweather Jr. While ‘Money’ remains retired, he’s done more than enough to continuously fan the flames of a potential rematch, and 2020 could finally be the year that it becomes a reality. As always, we’ll just have to wait and see.   Donnie Nietes vacates WBO title From one Filipino boxing great, we jump to another, as Donnie Nietes made headlines early in the year, and then was pretty much never heard from for the rest of 2019. After defeating Kazuto Ioka to become the WBO Super Flyweight World Champion in the very final day of 2018, Nietes was once again a world champion and seemed to be in for another dominant year as one of the division’s top dogs. In a surprise move however, Nietes decided to vacate the title in March, without even defending it, citing his desire for bouts against big-name opponents in the division. With Nietes vacating the title, it set up a title bout against then-mandatory challenger Aston Palicte and Kazuto Ioka, with Ioka ultimately winning and taking the WBO title. As for Nietes, the longest-reining Filipino boxing, who last fought on December 31, 2018, he will go more than a year without competing for the first time in his storied career. Hopefully, 2020 features the long-awaited return of “Ahas”.   The dominance continues for Lomachenko, Crawford, Canelo, and Ancajas Some won titles, others vacated, and others just remained on top. This was the case for the likes of Vasily Lomachenko, Terrence Crawford, Canelo Alvarez, and our very own Jerwin Ancajas. 2019 was a relatively quiet year for Loma, who only had two bouts to his name. The Ukrainian boxing machine KOd Anthony Crolla in April to retain the WBA super and WBO World Lightweight World Championships. In August, Lomachencko defeated Luke Campbell via Unanimous Decision to retain his titles and win the vacant WBC World Lightweight Championship. “Bud” Crawford also had himself a two-fight year in 2019. In April, Crawford faced Amir Khan in a highly-anticipated bout, and ended up scoring a sixth-round TKO to retain his WBO World Welterweight crown. In mid-December, Crawford scored another TKO win to defend his title, this time against Egidijus Kavaliauskas Canelo Alvarez meanwhile, became a four-division world champion in 2019 after going up to light heavyweight and dispatching Sergey Kovalev in 11 rounds to capture the WBO title. This was after he opened the year with an impressive 12-round win over Daniel Jacobs to retain the WBC, WBA super and IBF Middleweight World Championships. Our very own IBF Super Flyweight World Champion Jerwin “Pretty Boy” Ancajas also had a good year, defeating Ryuichi Funai and Miguel Gonzales en route to eight successful world title defenses.   Andy Ruiz Jr. shocks the world In recent years, boxing’s heavyweight division belonged to the likes of Tyson Fury, Deontay Wilder, and Anthony Joshua. That all changed when Joshua saw himself fall victim to the biggest boxing upset of the year. Following a failed drug test from his initial challenger Jared Miller, Joshua was matched up with Mexican heavyweight Andy Ruiz Jr, who many didn’t take seriously due to his less than impressive physique. Ruiz quickly silenced the naysayers by using his speed and power to drop Joshua four times, twice in what would be the final seventh round, to shock the world and capture the WBA, IBF, WBO, and IBO Heavyweight World Championships. Ruiz also became the first Mexican heavyweight world champion in boxing history. In the rematch however, Joshua bounced right back and dominated Ruiz across 12 rounds to reclaim the titles. Part 3 could be something to watch out for this 2020.   Nonito Doniare Jr. and Naoya Inoue put on a war Many expected it to be a quick affair, but the World Boxing Super Series Bantamweight Finale between Nonito Donaire Jr. and Naoya Inoue ended up becoming a 12-round classic, worth of Fight of the Year honors. Donaire Jr. and Inoue both earned their spots in the tournament finale, but judging from their prior performances, it looked like ‘The Monster’ Inoue was set to make quick work of an aging, presumed-to-be-past-his-prime Donaire Jr. “The Filipino Flash” instead gave Inoue the fight of his life, putting the pressure on the Japanese star like no one else before has been able to do. Unfortunately for Donaire, the younger Inoue simply had more in the tank left, as he was able to grind out a Unanimous Decision win, but it was clearly the hardest win he had ever had. For Donaire’s part, his impressive performance in the loss earned him a mandatory challenger spot against WBC Bantamweight World Champion Nordine Oubaali in 2020.   Amatuer stars Eumir Marcial and Nesthy Petecio shine on the world stage and in the SEA Games It wasn’t just the Pinoy pros that had their time in the spotlight, as a pair of amateur pugs also made headlines in 2019. Filipino middleweight Eumir Felix Marcial finished with silver in the 2019 AIBA World Boxing Championships in Russia and then finished the year with a dominant run in the 2019 SEA Games, stopping both his opponents en route to a gold medal. Nesthy Petecio meanwhile, became a world champion after capturing gold in the 2019 AIBA Women’s Boxing World Championships, also in Russia. Petecio’s win earned her a spot as the torchbearer in the 2019 SEA Games, lighting the cauldron alongside Pinoy boxing legend Manny Pacquiao. Petecio also captured gold in the SEA Games tournaments.   Quadro Alas becomes a three-division champion For a while, it looked like Johnriel “Quadro Alas” Casimero was done. After an uninspired loss to Jonas Sultan in a super flyweight title eliminator, Casimero steadily got back on track and picked up win after win until he was suddenly a titleholder again, winning the WBO Interim Bantamweight World Championship in April. After a successful defense of the interim belt, Casimero became the mandatory challenger to reigning WBO World Champion Zolani Tete. Tete was coming into that fight as the heavy favorite, riding a 12-fight winning streak which included three successful title defenses. Casimero halted the Tete hype train with a third-round TKO win to once again become a world champion, his third in as many weight divisions. With the win, Casimero now sets his sights on a possible super-fight against Naoya Inoue in 2020......»»

Category: sportsSource:  abscbnRelated NewsDec 27th, 2019

LeBron James, Anthony Davis bring new Heat to L.A.

By Shaun Powell, NBA.com The relationship they formed, nurtured and maximized to the championship fullest was captured in all its glory nine years ago this month on a sensational play that took maybe six seconds. Dwyane Wade grabbed a loose ball and ran up court, leading a rather routine fast break and then, chemistry happened. He gently tossed a short, no-look bounce pass that for a microsecond went to a ghost, at least until LeBron James, trailing the play in full sprint, appeared and scooped the ball. Wade didn’t see LeBron behind him … he just knew. LeBron didn’t call for the ball … he just knew. As LeBron elevated and cupped the ball for a tomahawk dunk, Wade kept running forward and spread his arms before the crowd, as if to say: This is how we do it. That finish was immortalized by an Associated Press photographer seated underneath the rim named Morry Gash. The image instantly went viral, causing witnesses to gasp at the image’s snarky, arrogant and amazing glory. Mostly, though, that sequence symbolized the blossoming bond between LeBron and Wade early in their time together with the Miami Heat. 9 years ago today. #L3GENDARY pic.twitter.com/Yc7iQDezlM — Miami HEAT (@MiamiHEAT) December 6, 2019 And, it suggests what’s currently percolating in Los Angeles with the Lakers. LeBron has a new basketball boo, and the process with Anthony Davis is starting to look strikingly familiar. Theirs is an already devastating combo that has the Lakers scorching through the early NBA season with the best record in the West. ‘Bron and The Brow are both entertaining and effective, a combination that certainly works in L.A. (which expects both). This is more of the peanut butter-and-jelly variety than fingernail meets blackboard in terms of two forces blending in beautifully. They share the same ideas about how to play the game as one, when to defer (and when take over) and why there’s no need for ego or one-upmanship. It’s a tag-team, your-turn-my-turn type of existence, sprinkled with an ability to recognize each other’s tendencies. Oh, and it helps that they like each other as people. Longtime Laker witnesses might feel the urge to compare this to Shaquille O’Neal and Kobe Bryant, but a more apt linkage is LeBron and Wade, whose on-court kinship spilled over into their personal lives, and to this day they still refer to each other as brothers from other mothers. “We had something special,” James said. And now, with Davis? “Everything’s coming along great, maybe even quicker than we thought.” As the Lakers prepare to play Friday in Miami (Saturday, PHL time) -- the site of so many LeBron-Wade connections -- the NBA’s new combo is just getting ramped up. No All-Star duo in the league is generating more wins, sizzle and per-game production than LeBron and Davis, who average a combined 53.6 points, 15.8 rebounds and 14.1 assists per game. They’re durable, too: LeBron has played in every game while Davis has missed only one. Much of this was expected when the Lakers traded for Davis and gave LeBron someone who was arguably his equal in terms of talent. The pairing seemed ideal because Davis is a low-maintenance star who doesn’t always demand the ball and keeps his ego hidden -- necessary tools when one plays in LeBron’s orbit. They also tend to cover each other’s weaknesses. For example, Davis is a superior defender while LeBron, who turns 35 in a few weeks, picks his spots defensively. Davis took the Pelicans to the semifinals once, while LeBron has played in eight of the last nine Finals. One other critical element worth noting is this: LeBron is anxious to grab at least another title here with his third team, which would be unprecedented. Davis is hungry for his first. They share the same quest, then, but approach it from different angles. Given where they are in their careers, there was a hunch they were made for each other. After 25 games, this notion has proven correct. “They hit the ground running right from the start of training camp,” said Lakers coach Frank Vogel. “Both on and off the basketball court, their chemistry has been seamless.” LeBron seemed determined to make this work after his first season in L.A. lacked a true co-star and was slowed by a groin injury. His basketball relationship with Kyrie Irving in Cleveland took a sharp turn three years ago when Irving demanded a trade, mainly to escape LeBron’s enormity and strike out on his own. LeBron, like almost everyone else, was stunned as to why someone was so willing to bail on an all-time great. That raised this issue: while LeBron is one of the most accommodating superstars in NBA history, other stars in their prime would rather be the lead singer on another team. Davis seems cut from another cloth, however. And besides, when LeBron eventually retires (he has two seasons left on his contract), Davis will become a solo king if he so desires. This process was months in the making as LeBron made a point to align himself with Davis off the court since last summer. He welcomed him into his home, inviting him to events and generally magnetizing himself to Davis, who in turn did the same. This same approach worked for LeBron and Wade in 2010, but back then, LeBron was joining Wade’s team and was careful not to overstep any boundaries. “What I’m seeing here is how much time they spent together away from the court last summer and how that has impacted what’s going on right now,” Vogel said. “Even in film sessions the two are always together. They’re just building that friendship that LeBron and Dwyane had. LeBron has done everything in his power to make sure he’s going out of his way to make Anthony comfortable.” Wade and LeBron became fast friends because their personalities were similar and therefore clicked. Wade admitted that, at times, it was difficult to ride shotgun that first season together. But he respected LeBron’s talents too much to make that an issue. It all worked as they won two championships and made four Finals together. Heat coach Erik Spoelstra recognizes what’s developing in L.A. and says about LeBron: “He’s able to morph into whatever he needs to be to bring out the best from other players. This just fits like a glove with LeBron and AD, the way they work well together. Their skill sets compliment each other.” The Bron-Brow combo is causing defensive hell for teams: Which one gets a double team? Do you put a big player on LeBron and a shorter one on Davis or vice versa? Last Sunday (Monday, PHL time), the two combined for 82 points against the Timberwolves, which came two nights after they dropped 70 on the Blazers. Scoring only tells so much, but the way they compliment each other is nearly perfect. LeBron handles the ball, Davis impacts the rebounding and defense. They can almost sense where the other is without looking. Together, their sneaker prints are all over the floor. “The more time you spend together, if you have the same goals in mind and you have the same drive, then organically it happens,” LeBron said. Much of this is new to Davis, who only got a half-season’s worth of playing time with an All-Star (DeMarcus Cousins) his six seasons with New Orleans. He welcomes the change of synergy because playing next to LeBron ups his championship odds. “I mean, he’s a tremendous teammate, great talent and takes a lot of pressure off not only me, but everyone else,” Davis said. “It’s fun to be on the floor with him.” That’s evident from everyone who has watched this relationship take root and grow. “It’s there, and I think it’s genuine, too, from what I can see,” said former Lakers great and James Worthy, now a TV analyst for the club. “They’ve known each other for a while now, and they have that same drive and vision about the game and how it’s played. I think they know how to monitor each other and the team constructively to where the cohesiveness remains tight.” What’s frightening is the process hasn’t even reached a half-season. The wavelength LeBron and Wade once enjoyed can be matched with Davis, and it’s on pace to be fully maximized by the playoffs. The better it gets for Bron and Brow, the better it is for their supporting cast. “For me and AD, it starts with us,” LeBron said. “If we’re on the same page it makes it easier for the rest of the ball club.” There’s an important duplication taking place in Los Angeles, from LeBron-Wade to LeBron-Davis. The initial results are decisively promising. If this all keeps up, might multiple championships also follow? Shaun Powell has covered the NBA for more than 25 years. You can e-mail him here, find his archive here, and follow him on Twitter. The views on this page do not necessarily reflect the views of the NBA, its clubs or Turner Broadcasting. .....»»

Category: sportsSource:  abscbnRelated NewsDec 12th, 2019

LeBron James keeping Father Time at bay in LA

By Shaun Powell, NBA.com The bearded man in a robe who walks with a slight hunch and carries an hourglass always lurks in the shadows, almost out of view. Nobody is paying him much mind or cares what he has to say -- at least not initially. He’s not on anyone’s radar until he appears and applies a gentle tap on the shoulder (or a violent shove in the back) of the unsuspecting. And that’s when they realize they’ve been paid a visit by someone whom Charles Barkley always says is undefeated. Yes, it is “Father Time,” the mythical creation of the ancient Greeks whose clock is more pronounced than any made in Switzerland. He is, by every metric, always on time, although that seems to vary, depending on his mood. He is gracious and respectful in some cases, unforgiving in others. Ultimately, he and only he decides when your time in sports is up. And so, it’s a matter of when, not if, he’ll throw LeBron James in reverse. But where other stars became role players or transformed into shells of their former selves, LeBron is playing at a high level. He turns 35 later this month and because he’s delivering Kia MVP-quality results here in his 17th NBA season, he is winning against time, and therefore, he is … cheating time. He’s almost at 57,000 minutes played in the regular season and playoffs combined, which ranks fourth behind Kareem Abdul-Jabbar, Karl Malone and Kobe Bryant. He should pass Kobe for No. 3 in career scoring (33,643 points) by the All-Star break. The all-time scoring mark and a high ranking on the all-time assists list are in sight, too. Ask him why and how he’s doing it and LeBron is playfully coy and quick to say “fine wine.” He’ll also often credit the extra motivation he acquired last summer, when he watched the playoffs from his sofa, not far removed from a groin injury and a dreadful first season with the Lakers. Those things caused him grief and fueled his desire to reclaim his place. "I put in the work and I trust everything that I’ve done, especially this offseason," James said. "I’ve come in with a great mindset, with a healthy mindset and a healthy body." Considering his middle age, LeBron is putting together a masterful season (25.6 ppg, 7.1 rpg) while excelling as a volume 3-point shooter. His 10.8 apg leads the NBA and his effort defensively -- which was laughable last season -- is laudable now. Nobody at 35 has assembled such numbers in league history. “He’s LeBron James,” said Clippers coach Doc Rivers. “Until he isn’t.” What’s age got to do with it? Well, nothing right now. LeBron is still capable of unleashing a facial dunk, as he did with a smirk against the Kings’ Nemanja Bjelica, who perhaps wisely never bothered to challenge it. He also covers all the court rather than, as some aging players are wont to do, play between the free throw lines. It’s true that soon enough he will wear longer shorts than anyone in the game -- not from faulty tailoring, but from constant pulling and tugging. And while the ball is in play, he will someday hear squeaking on the court and suddenly notice that sound is coming from his joints. “Nobody knows when it’ll happen to him because he’s still playing in the air,” said Hall of Famer Dominique Wilkins. “And even when that goes, his basketball IQ will allow him to stay great on the ground. I mean, who gets triple doubles at his age? Only he knows when his time is up.” When that day arrives -- and assuming he doesn’t first quit while he’s ahead -- how big of a decline will it be for LeBron (and, by extension, for us) to witness? Will he fall prey to nagging injuries, get torched nightly by previously inferior players, or quit playing defense? Here’s how “Father Time” diminished six greats who came before LeBron: 1. Michael Jordan: When he retired for the second time, after his last season with the Bulls, Jordan was still very much a physical marvel and the reigning MVP and Finals MVP (he won five MVPs and six Finals MVPs). He was certifiably great for 13 of his 15 seasons and could’ve been longer if not for three years of college ball, an injury-shortened 1985-86 season and 1.5 missed seasons due to baseball. His body only began to betray him when he un-retired in 2001 to play for the Wizards. At 38, Jordan rarely dunked, wasn’t as sharp defensively and knee issues limited him to 60 games in 2001-02. 2. Jerry West: “The Logo” never had a down year in his 14-year career. He was First-Team All-Defense in 1972-73 as a 34-year-old and was solid in his final season (20.3 ppg, 6.6 apg, 2.6 spg). But he wasn’t at his peak of the late 1960s and opted to quit over pride (and money, when Lakers owner Jack Kent Cooke refused to renegotiate his contract). 3. Bill Russell: His career ended mainly because he ran out of psychological fuel. Russell lost his passion to play at 35, even after winning championship No. 11 in his final season (1968-69). That season, he played 46.1 mpg in the playoffs, averaging 10.8 ppg, 20.5 rpg and 5.4 apg. While those numbers are perhaps skewed by the way the game was played back then, they’re still remarkable. 4. Wilt Chamberlain: A man of astonishing stats, Chamberlain averaged a league-leading 18.6 rpg and shot 72.7% overall in his final season (1972-73). Knee issues had long forced Wilt into being a statue in the paint and a third option on offense. After that final NBA season, he jumped from the Lakers to the ABA for money. San Diego offered him $600,000 to be a player-coach, but his Lakers contract prevented him from playing. Wilt coached instead, doing so with disinterest, often not showing up for games or practice. He quit basketball completely after that season. 5. Kobe Bryant: Those roundtrip flights to Germany to get oil for his knees managed to delay the obvious for a few years, but a torn Achilles in 2013 at 35 was the killer. Kobe, much like Jordan and LeBron, was elite into his 30s. And he’ll always have that 60-point send-off. 6. Karl Malone: He won his final MVP at 35 and was built for durability, never suffering a serious injury. He averaged 20.6 ppg in his final season with Utah (2002-03) as he approached 40. By then, he had morphed into a jump shooter and lost his instincts for offensive rebounding. He bowed out as a ring-chasing role player with the Lakers in ‘03-04. Larry Bird was ruined by debilitating back issues at 32. Abdul-Jabbar often only jogged downcourt his last six seasons. Tim Duncan became a secondary option in his last four seasons while Dirk Nowitzki averaged more than 20 ppg once over his final five seasons. Vince Carter is 42 and proudly still playing, but clearly is 10 years beyond his prime. Allen Iverson was the last to know his quickness was gone. “For me, it was Year 12 when it hit me,” said Lakers great James Worthy, who had knee issues. “My patented move was taking off from somewhere inside the free throw line. I found myself halfway there once and I started to descend before I got close to the rim. I had to do a George Gervin flip instead of a dunk. “It’s different now, with this generation of players. I was eating Burger King before games and working out on Nautilus machines. I went to college with Lawrence Taylor and I remember him telling me, ‘I don’t wanna get hit anymore.’ And he’s a reckless guy. LeBron will wake up one day and he won’t have that drive. He’ll be tired and while physically he’s in such great shape, something will go away, either a move or speed.” LeBron seems determined to be the outlier. He spends, by various estimations, more than $1 million on his body for round the clock therapy and a personal trainer. Last summer, he refused to allow the shooting schedule for the movie “Space Jam 2” to interfere with his schedule, rising at 3:30 a.m. to train before heading to the set. He has more than once fantasized about staying in the league long enough to possibly play against or alongside his son, Bronny (now a high school freshman). “LeBron is not only a great player but a physical marvel,” said Warriors coach Steve Kerr. “Probably the best athlete to ever walk this planet. I’ve never seen anybody in my lifetime in any sport whom I would consider a better athlete. It’s one of his best attributes and the one that goes the least noticed. You just take it for granted that he’s out there every night and still doing his things.” LeBron exchanged playful tweets with Tom Brady last month, with LeBron saying the two are “one in the same.” Brady is a tame comparison to LeBron. Brady doesn’t run 94 feet and back for nine months (playoffs included) and when tired can simply hand off to the running back. Same for NFL legend Joe Montana, who made the Pro Bowl at 37. MLB legend Nolan Ryan threw once every four or five days. Maybe tennis star Roger Federer, who won Wimbledon at 36 and still reaches finals at 38, comes closest. “It wouldn’t shock me if LeBron played until he was 40,” West said. “He’s such a great athlete and knows enough about his body that he’ll probably leave before he declines.” After watching Robert Parish waste away on the Bulls’ bench, Jordan said he’d never allow himself to stay in the game that long. His pride and unwillingness to be seen as hanging on meant he’d walk away first. LeBron doesn’t think of the twilight and given how he’s playing now, that doesn’t appear to be in the future, anyway. “I was with the Nuggets late in my career and the funny thing is I was leading the league in assists,” said Mark Jackson, fourth on the all-time assists list. “There was a loose ball, a deflection, and it’s right here, and I can go get it. I made the move to go get it, and before I could get anywhere near it, a kid out of nowhere, and in a blur, snatched it. Gets the ball, by the time I get to the spot where the ball is, he’d already dunked it. Young kid by the name of Allen Iverson. I knew it would never be the same.” Jackson says LeBron is so multi-gifted that he can endure decline in one area and still flourish in another. “He also has the knowledge, pace and understanding that he’ll still be able to be effective even when he slows down,” Jackson said. “I don’t think it’ll be drastic. He can average a triple-double for the next five years.” LeBron is taking great satisfaction in fighting age while tweaking skeptics, both real and imagined, who wondered if decline was imminent. He cites that “Washed King” nickname -- did somebody actually call him that? -- as motivation. “It’s the personal pressure I put on myself,” LeBron said. Eventually, like everyone, he’ll take the L from “Father Time.” Until then, LeBron is making us wonder if that mythical man exists. Shaun Powell has covered the NBA for more than 25 years. You can e-mail him here, find his archive here, and follow him on Twitter. The views on this page do not necessarily reflect the views of the NBA, its clubs or Turner Broadcasting. .....»»

Category: sportsSource:  abscbnRelated NewsDec 5th, 2019

ONE Championship: Jeremy Miado s hard work pays off with highlight-reel KO

Jeremy “The Jaguar” Miado is back to winning ways – and it took him months of preparation to get it.  Miado scored a thunderous first-round flying-knee knockout win over Miao Li Tao at ONE: AGE OF DRAGONS to frustrate the thousands of Chinese fans in attendance at the Cadillac Arena in Beijing last Saturday, 16 November. The 26-year-old scored the highlight-reel knockout when Miao was shooting for a takedown, driving his knee right into the jaw of his foe as the crowd fell to a stunned silence.  Miado insists the knockout win was not a flash in the pan – it was a result of rigorous game-planning and preparation.  “I watched his previous bouts and I noticed the things that he always does. He will throw some combinations, shoot for a takedown, and dominate on the ground. That’s what I prepared for, countering his attacks,” Miado said.  “I worked particularly on two points of attack – my combinations and the flying knee once he attempted to shoot and that’s exactly what happened. I’m happy I executed it perfectly.” The motivation came after “The Jaguar” saw his compatriots fall one by one early in the preliminaries.  Team Lakay’s Edward “The Ferocious”  Kelly lost to Tang Kai while Ramon “The Bicolano” Gonzales dropped a decision loss to “Wolf Of The Grasslands” Hexigetu earlier in the night.  “I had two countrymen who I know wanted to win bad, but unfortunately they fell to their Chinese opponents. That’s why I told myself I’m gonna win for them and I will raise the Philippine flag high,” Miado said, who improved to 9-4 after the match. “That was an added motivation for me.”  Ending the year on a brilliant note, “The Jaguar” shared that he is far from reaching his true potential. “I will work harder in training to get better and stronger,” Miado said.  “What I’m doing is for all the people who never stopped believing in me, especially my family.”.....»»

Category: sportsSource:  abscbnRelated NewsNov 18th, 2019

30 Teams in 30 Days: Cavaliers to lean heavily on young roster

Like most summers in the NBA, the 2019 edition was chock full of trades, free agent news and player movement. From the defending-champion Toronto Raptors to just about every other team in the league, change was the most applicable word when it came to describing team rosters for the 2019-20 season. With the opening of training camps just around the corner, NBA.com's Shaun Powell will evaluate the state of each franchise as it sits today -- in order of regular-season finish from 2018-19 -- as we look at 30 teams in 30 days. * * * Today's team: Cleveland Cavaliers 2018-19 Record: 19-63, did not qualify for the playoffs Key additions: Darius Garland (Draft), Kevin Porter Jr. (Draft), Dylan Windler (Draft), John Beilein (coach) Key departures: JR Smith, Cameron Payne, David Nwaba The lowdown: The first season in the post-LeBron James era, Part II, was almost a carbon copy of the first one: He leaves and the team crumbles. This was pretty much expected from a team that was built around LeBron and then suddenly grew old overnight once he left. It didn’t help matters when Kevin Love, given a rich contract the previous summer, played only 22 games because of injury. That ensured the Cavs would be locked into a rebuilding season and rookie point guard Collin Sexton would receive ample playing time as a result, which was not necessarily a bad thing at all. After shaky initially, Sexton finished strong and averaged 20 points the last 2 1/2 months to make the All-Rookie Second Team. Also, swingman Cedi Osman benefited from increased playing time and had moments in his second season. In a mild disappointment, Larry Nance Jr. failed to take a generous step in his development and there’s fear he will be nothing more than a scrappy, hard-working role player who’ll make the occasional highlight dunk. Otherwise, the Cavs’ season served no major purpose. The remaining pieces from the LeBron era either crumbled in various ways or simply disappeared: JR Smith was suspended, essentially for insubordination; Love was hurt; Tristan Thompson plateaued; George Hill and Kyle Korver were traded. The Cavs sunk toward the bottom of the East, fell off radar for the first time in six years, and once again found themselves back in the lottery looking for help. Summer summary: In a summer of surprises around the NBA, one of the more under-rated events happened when the Cavs’ coaching search ended with a 66-year-old grandfatherly type who never spent a day on an NBA bench. John Beilein might well be a revelation, one way or another. He spent much of his college career at Michigan, where he was highly respected for his strategy, composure and character -- three elements he’ll need in Cleveland. Beilein had flirted with the NBA in years past; when nothing materialized, some NBA people thought his time had passed, especially once he reached retirement age. But the Cavs went with an out-of-the-box choice anyway, plucking Beilein even as the college-to-NBA transition comes with inconsistent results and yellow flags. Brad Stevens is the exception, and besides, he was in his mid-30s when he left Butler and took the Celtics job. The one current college coach whose name surfaces the most in NBA conversation is Jay Wright of Villanova, who has served on Team USA and appears NBA-ready (temperament, two-time champ, even wardrobe). Word is Wright will be on the Sixers’ short list if and when that job opens. Because of Beilein's age and the state of the Cavs, he seems a bridge-gap coach; if so, that’s a smart choice. He’s experienced at managing young players, and the Cavs will build their next era through the Draft. Top free agents don’t make Cleveland a destination choice, even when presented with the chance to play alongside LeBron. Given how quiet the Cavs were this summer, the odds are great that they’ll return to the draft lottery in 2020 and give Beilein additional players in their early 20s to nurture. He’ll have five this season, with Sexton and Osman returning, plus Darius Garland, Dylan Windler and Kevin Porter Jr. coming on via first-round picks. The prize is Garland, the No. 5 pick who was limited by a meniscus injury to five games in his one and only season at Vanderbilt. This seems eerily similar to years earlier when the Cavs took another guard with a limited (11-game) college career: Kyrie Irving. Garland was a three-time Mr. Basketball in Tennessee and was considered the best recruit ever at Vandy, and that’s about all NBA scouts had to work with this spring. Not only was his college career brief, but he also left the combine early. Apparently, that was enough for the Cavs, smitten by Garland’s instincts. The only question is how he fits with Sexton; both can play off the ball, although each is more comfortable as the lead playmaker. Porter represents a wild card of sorts. Talent-wise, he can be considered a steal with the 30th pick ... after being red-flagged by teams following a suspension at USC for poor conduct that cost him much of that single season. Porter was a workout beast prior to the draft, a swingman who brings great size (6-foot-6) and can create off the dribble. The Cavs had nothing to lose by choosing him at that point. Windler benefited from four years in college, steering underdog Belmont to the NCAA tourney and developing into a prospect by his senior year. The Cavs and Beilein can figure out how it all fits later. Right now, Cleveland is all about stockpiling as many assets as possible and giving that young core plenty of time to make their mistakes now, rather than later. And speaking of assets, they didn’t trade Love this summer. But that doesn’t mean he’ll be on the roster when next season ends, either. If the right price comes along — and that’ll be tricky because of his age, injury history and salary — Love can and will exit. LeBron James will eventually get a statue outside Rocket Mortgage FieldHouse (formerly Quicken Loans Arena), but he isn’t walking through that door again. The Cavs must take another road to respectability, and it could be a long one. Shaun Powell has covered the NBA for more than 25 years. You can e-mail him here, find his archive here, and follow him on Twitter. The views on this page do not necessarily reflect the views of the NBA, its clubs or Turner Broadcasting. .....»»

Category: sportsSource:  abscbnRelated NewsSep 3rd, 2019

Warriors miss Kevin Durant, but do they need him?

By Shaun Powell, NBA.com PORTLAND, Ore. — Along with the equipment, uniforms, basketballs and the confidence that comes with being up 2-0 in the Western Conference finals, the Warriors brought along another piece of cargo to Portland and it is the heaviest of them all. It didn’t come packed in luggage or a box; instead, it’s just wrapped in a hunch and tied with a question mark, and it is this: When do the Warriors start missing Kevin Durant? [Watch the Playoffs on NBA League Pass for 30% less with this limited time offer! Select Annual package and use code SAVE30 at checkout to redeem] The back-to-back champs are now 3-0 in these playoffs without their superstar and his aching calf. And 4-0 overall in games in which Durant didn’t finish. That probably says something about the Rockets, and so far about the Trail Blazers — two teams unable to exploit his absence. However, while the (bleeping) Giants — Steve Kerr’s description of his undermanned team — are honorably playing with a sense of urgency, they aren’t buying the notion that they don’t need Durant. It’s an easy trap to fall into, to believe the outside chatter that they’re better off without him. The next two games, both at Moda Center, will either feed that belief or destroy it. Yes, because the Blazers must beat the Warriors four out of five to advance, there’s little to no chance of them denying Golden State a fifth trip to the Finals regardless of whether Durant shows up in this series or not. And that’s good for the visitors, since Durant didn’t make the trip for Games 3 and 4. “There's no mental adjustment,” said Kerr. “You just play. You go out there with what you have, and this is our third game, 3 1/2 games, really without him, and so we're just trying to hold down the fort. Hopefully he continues to progress and he has made progress, but it's a little more serious than we thought at the very beginning. So we'll see where it all goes, but he's in there all day long getting treatment. He's done a great job of committing himself to that process.” There’s a thought that, even if Durant was 80 percent, the Warriors will keep him benched to prevent a chance of re-injury, and that’s a wise decision with wide-ranging ramifications. By protecting Durant’s best interest here in this free agent year, the Warriors score big points with him and his camp less than two months before Durant must make a decision on his future. That said, what are the Warriors doing right to remain unharmed by his absence? The easy answer is they won championships without Durant and so this is more of the same-old, same-old. Except it isn’t. This actually might be more impressive. Understand that Golden State's system had to be changed here on the fly and in the middle of the postseason, not only to compensate for Durant’s 37 points per game in these playoffs, but also his defense. Once Durant was lost late in the third quarter of the fifth game of the second round, Kerr had to reach down his bench and rely on players who weren’t thrust into roles of significance and seldom saw fourth-quarter minutes up until this point. Meaning, Jonas Jerebko, Quinn Cook, Kevon Looney, Jordan Bell and Alfonzo McKinnie have either seen their minutes rise and/or their roles inflated in the process. Of course, most of the burden fell on the proven core: Steph Curry, Klay Thompson, Draymond Green and Andre Iguodala. Each of those four, in his own way, is playing at a premium, even if it’s a small sample size. “That’s what it takes in the playoffs," said Kerr. "You have to have guys playing at a really high level.” Curry seems reborn or at least sprung free of a playoff fog where his numbers and production didn’t match his regular season. He finished strong in a pair of fourth quarters while closing out the Rockets and is the most impactful player in this series so far. He’s averaging 35 points on 51 percent shooting in the three games without KD. It wouldn’t be a stretch to suspect Curry is getting a charge out of this, and his ego, which he keeps hidden, is being fed. Thompson is now clearly the second option, whereas before he was often No. 3 and often only if his shot was falling. The green light never turns yellow without Durant around, like Curry, Thompson is working without handcuffs or a leash. After hitting 20 shot attempts once in the playoffs before Durant’s injury, Thompson is now hoisting 22 a game, good for a respectable 25-point average. The Warriors are constantly feeding him and running screens for him and urging him to take the shot, even if it’s contested. For a player who insists he’ll re-sign with Golden State this summer, Thompson is getting a taste of what life must be like if he played for, let’s say, the Clippers and was the focal point of the offense. “This team's been together a long time and they trust each other,” said Kerr. “When the ball starts moving, that's when we're tough to guard.” Green has never been better this season than in the last few weeks. Recharged after losing weight immediately following the All-Star break and no longer feeling pain in his previously-injured shoulder, Green is menacing on the defensive end where once again he’s guarding all positions except point guard and doing it marvelously. In addition, he’s pushing the ball up court to help Curry and Thompson stay as fresh as possible and directing the offense from the high post. He’s averaging 10 rebounds, 6.5 assists and three blocks without KD. “You know, we can't sit and look over our shoulder and say, `Hey, man, when is K going to be back?’ We just got to play with whatever we got,” Green said. “We got to play and give him an opportunity to get back, and I think that's what really falls on our shoulders. We're a very confident group. Hopefully he's back sooner than later, but as a guy who is in the battle every night, we can't sit and look over our shoulder and wonder when he or DeMarcus [Cousins] is coming back. We have to assume they are not coming back and play with what we got. Obviously, we are hoping that they do. But while they are not out there, we just got to play.” Finally, there’s Iguodala. He stayed hibernated all regular season while averaging career lows across the board. At age 35, it appeared time had finally caught up. Instead, this was a case of a crafty veteran preserving himself for springtime, and with the amount of talent on the Warriors, he could afford to do so. Iguodala had solid moments guarding James Harden in the second round and is among those trapping Damian Lillard and CJ McCollum this round. One of the signature plays of the series was Iguodala coming up with a walk-off strip of Lillard as time expired in Game 2. “You're kind of in awe of it because not many guys can make plays like that consistently,” said Curry. So this is where the Warriors are without Durant and also DeMarcus Cousins. They were good enough to stump the Rockets (again), then proved too much for the Blazers in a pair of home games. Nobody would be shocked if they take a game in Portland or maybe finish the sweep. It’s a luxury that few teams have or could pull off even if they did. This comes from a core that’s been together for six years, a coach pulling the proper strings and a bench that isn’t shrinking in the moment. “We feel like we can still win no matter who is out there on the floor, and that's why we're in the position that we’re in and have won championships with all the injuries and all types of stuff,” said Curry. “We know what the mission is, and we're on it right now.” These Warriors are playing flashback basketball to the time before Durant came aboard — and prepping themselves for next season, when and if Durant jumps overboard this summer. Shaun Powell has covered the NBA for more than 25 years. You can e-mail him here, find his archive here, and follow him on Twitter. The views on this page do not necessarily reflect the views of the NBA, its clubs or Turner Broadcasting. .....»»

Category: sportsSource:  abscbnRelated NewsMay 18th, 2019

Sleepwalking Warriors snap to behind ultimate weapon Durant

By Shaun Powell, NBA.com LOS ANGELES -- The only sound in a basketball game that mimics an alarm clock blaring is the final buzzer, but by then the score is official and it’s too late to wake up. And maybe the Warriors needed seven months and 88 games to recognize this, because when you’ve won three championships in four years and bring four All-Stars in their prime and play nightly against the rank-and-file, there’s a tendency to doze off just to, you know, make things interesting. Well, nap’s over. After Friday's (Saturday, PHL time) 129-110 victory over the Clippers, the buzzer has shifted to the opening tip, and suddenly the Warriors are aware of where they are and who they’re up against and what time it is. [Watch the Playoffs on NBA League Pass for 30% less with this limited time offer! Select Annual package and use code SAVE30 at checkout to redeem] At least, those are the signals they’re giving off now, on the eve of the second round of the playoffs, when there is no better moment -- to paraphrase the noted prophet Kevin Durant -- to let folks know who you are. They’ll be led into their next basketball battle by Durant, fresh off a fiddy, which of course is basketball slang for 5-0 points, which finally silenced the Clippers and made the basketball world revisit the belief that the Warriors are not to be denied. This of course will be put to the test by the Rockets, arguably the biggest threat facing the Warriors between now and a June champagne sip. But really, now: If Durant plays like he has the last few games, does it really matter what James Harden and Chris Paul bring in this upcoming best-of-seven? “He’s in a groove right now,” said Steph Curry. “Special to see.” With the exception of last year’s Western Conference finals, when Houston took Golden State to the limit, the Durant Warriors have been one level above all others in the playoffs. The Clippers just took two from them -- despite Durant -- and nobody else claimed more than one victory in a best-of-seven. Overall, excluding that Rockets’ series, the Durants are 32-5 in the postseason, a clean 9-0 in series play. Everything that the Warriors were projected to do once Durant signed up for duty two summers ago has come true. They’re three superstars ahead of good teams and two superstars ahead of very good teams. Right now, they’re alone on the island, the only true great team in the league, even on nights when they don’t play the part. With all due respect to Damian Lillard, no one has has drawn more awe lately than Durant, who’s on pace to cause major problems for whomever crouches in a defensive stance before him. In the last four games, he averaged 42 points on 55 percent shooting, and at times was a singular force against the stubborn Clippers. Remember, Steph Curry is trying to climb out of a fog, stifled and troubled by missed jumpers in the last week and momentarily sidelined Friday (Saturday, PHL time) by a tweaked right ankle, which always causes the Warriors to hold their breath. Klay Thompson, as is his pattern, went ballistic for one game, then was rather tame by comparison in the others. “I just play my game through it all,” Durant said. “I definitely don’t want to go away from my teammates if they’re struggling to shoot the ball. But at the same time, I have to be aggressive and try to win the game as well.” Given how leaky the Warriors’ defense looked and how carelessly they handled the ball, the one constant in the first round was Durant drilling shots from all angles and distances, especially once he confined his chatter to making shots instead of taking them at Pat Beverley, the Clippers’ All-Star instigator. Warriors coach Steve Kerr called it “one of the greatest performances I’ve ever seen” and this is someone who rode with Michael Jordan and Tim Duncan. Whether Kerr was simply caught up in the moment, it doesn’t minimize what Durant did to close out the Clippers and what he’s capable of doing against the Rockets. “He's the ultimate weapon because there's no defense for Kevin,” Kerr said. “No matter what anybody does, he can get a good shot. And he knew we needed him badly. And he just took over the game in the first half and set a great tone.” Durant appears to be locked in and on a mission, and if this is his last run with the Warriors, it’s morphing into a gallop. His 50 points Friday (Saturday, PHL time) were a personal playoff high and his 38 in the first half tied Charles Barkley for second on the all-time list. And this came on the heels of the 45 points he delivered in a losing Game 5 effort. “Sometimes you come across special people and it doesn’t matter what defense you send to them,” said Clippers guard Lou Williams. “There is no scheme. There’s nothing you can do with special people. He’s one of them and he showed it. He put them guys on his shoulders. He proved exactly who people think he is, who he thinks of himself, and he did it.” The Warriors finished with the best record in the West this season, almost on reputation or cruise control. Once again, there were lapses that seemed suspiciously like a team bored with the schedule and awaiting a summer coronation. This breezy attitude seeped into the opening round, when the Warriors choked away a 31-point lead and then lost another home game to an eighth-seeded team devoid of All-Stars. This doesn’t happen unless the heavily-favored one-seed is taking their championship rings for granted. “I think I made a joke like this first round felt like it was two months,” said Curry. “It was just the emotional part of it, I mean, losing (DeMarcus Cousins) and a 31-point lead and trying to come back on the road and the mental investment you put into it. We’ve got to be able to flip the switch from one team to the next and that will be the biggest test.” Well, and this might be a stretch, but expect the Warriors to show the Rockets a lot more respect. Deep down, Kerr knows losing a pair to the Clippers was perhaps the face-slap his team needed, and at the right time. The Warriors know any lapse in this series will likely be their last, and a fatal one as well. “We know what Houston's about,” said Kerr. “We know how good they are. We've got to be ready.” There are positive signs beyond Durant. Thompson will be the first line of defense against Harden, the league’s leading scorer this season, and Thompson is coming off a lockdown of Williams, who finally cooled and went 3-for-21 Friday (Saturday, PHL time). This will be of major importance, of course, given Harden’s usage rate and relentlessness. “If you’re not focused,” Durant said, “he can drive past you, he shoots floaters now, he’s a strong finish with either hand and obviously the step-back three-pointers is one of his staples. He can score in a variety of ways so you have to be locked in from the beginning. You’ve got to be ready to play tough all game.” Draymond Green is coming off a triple-double, while the aging Andre Iguodala seems springy and active, usually his profile this time of year. Yes, there’s finally perhaps a sense of urgency or at least an understanding of what’s at stake and more of an emphasis on staying woke for the Warriors. “Obviously we would love to win every series 4-0,” said Durant. “That would be ideal. But we know it’s not really going to happen that way.” Perhaps not. But the Durant Warriors, based on their track record, are convincing enough. Veteran NBA writer Shaun Powell has worked for newspapers and other publications for more than 25 years. You can e-mail him here or follow him on Twitter. The views on this page do not necessarily reflect the views of the NBA, its clubs or Turner Broadcasting. .....»»

Category: sportsSource:  abscbnRelated NewsApr 27th, 2019

NLEX Corp.& rsquo;s net earnings down 44% in nine months

NLEX Corp. said Monday net income fell 44 percent in the first nine months from a year ago after Luzon was placed under the enhanced community quarantine in the second quarter......»»

Category: financeSource:  thestandardRelated NewsDec 1st, 2020

Robert Grace, Gnash give & lsquo;Fake Fine& rsquo; a brand new polish

Kilkenny singer-songwriter Robert Grace has perfectly captured the zeitgeist and overall feel of the past few months. On his brand new version of “Fake Fine,” Grace is now getting vocal support from multi-platinum selling US shooting star Gnash, who is giving this get-well hit that has been streamed millions of times already a brand new polish. .....»»

Category: lifestyleSource:  abscbnRelated NewsNov 28th, 2020

Budget deficit surged 170% to P940.6b in 1st& nbsp;10 months

The government’s budget deficit increased 24.6 percent in October to P61.4 billion from the P49.3-billion shortfall a year ago, on double-digit decline in revenue collections and single-digit drop in spending amid the pandemic......»»

Category: financeSource:  thestandardRelated NewsNov 25th, 2020

GMA& rsquo;s profit soars 78% to P3.90b; ABS-CBN loses P7.22b

GMA Network Inc. said Monday net income surged 78 percent in the first nine months to P3.90 billion from P2.19 billion a year ago despite the absence of incremental sales from the 2019 elections......»»

Category: financeSource:  thestandardRelated NewsNov 17th, 2020

SMC tollway unit reports lower profit

The tollway unit of San Miguel Corp. said Thursday net income fell by 50 percent in the first nine months because of travel restrictions amid the COVID-19 pandemic......»»

Category: financeSource:  thestandardRelated NewsNov 12th, 2020

COVID-19’s impact on banks manageable – BSP report

The banking system remains on “solid footing” in terms of assets, loans, deposits, profitability, capital and liquidity buffers despite the COVID-19 health crisis, a report from the Bangko Sentral ng Pilipinas (BSP) said.  “The impact of the pandemic on the overall condition and performance of the banking system, which remains the core of the domestic financial system, has been manageable,” according to the BSP’s second semester report on the Philippine financial system. The total assets of the banking system account for 81.9 percent of the financial system’s total resources. MB file photo. The banks remained resilient during the worst of the lockdown period because of the “timely, time-bound and crucial” regulatory relief measures that BSP granted to them during the most severe quarantine months of March until June. These relief measures “helped address the adverse repercussions of the pandemic.” One of these reprieves was the suspension of the submission of some bank reports while most of the country was on enhanced community quarantine (ECQ) restrictions. Banks have had to adjust operations and deal with the slowdown in economic activities that affected their borrowers’ capacity to pay. Based on a set of financial soundness indicators (FSI) to assess banks’ health and soundness, it noted that the banking system is “stable and resilient despite global uncertainties related to the extent and path of COVID-19 menace.”  But, the BSP said that the FSI analysis also implies that “consequent risks from lending should be monitored especially in the event of excessive uncertainties that could place additional pressures on the banking system in the short and medium run.” As of the report timeline, banks surveyed have yet to determine the total impact of the grace periods under the Bayanihan law but generally, based on the BSP’s comprehensive baseline survey conducted in April, banks have proactive control measures that will ensure the continued delivery of financial services to the general public and also to protect their personnel, said the BSP. Banks’ business continuity plans, and previous efforts at digitalization, also helped them to respond quickly to conditions brought about by the ECQ. Despite the economy in recession due to the pandemic, the banking system’s total assets reached P18.6 trillion as of end-June, 98.8 percent of the GDP. The end-June tally was 7.9 percent higher year-on-year but was slower than the 9.8 percent growth recorded in June 2019 and the 8.4 percent growth as of end-December 2019. Assets continue to grow because of the expansion of funds that went to lending activities while funding came from deposits, bond issuances and capital infusion. In the meantime, the report said banks’ profitability or net income fell by 22.5 percent to P86.5 billion as of end-June 2020 because of higher provisioning requirements. This was a reversal of the 27.7 percent growth in earnings same time in 2019.  “Provisions on credit losses for loans and financial assets significantly increased, weighing heavily on bank profitability. Other income sources are expected to slow down due to lower volume of transactions, waiver of inter-branch and interbank fees as well as the temporary grace period moratorium on the imposition of bank fees, penalties and charges under the Bayanihan Act,” said the BSP. Based on the BSP survey, banks have measures to cushion the adverse impact of the pandemic on profitability such as banks’ plans to impose cost-cutting measures that includes deferred capital spending and freeze hiring of non-critical positions. The BSP said banks have also intensified loan collection activities and its loan monitoring. They have also become more prudent in loan releases, reduced the cost of funds and at the same time boosted marketing campaigns for new loans and deposits.  “Across banking groups, (the big banks) also intend to reduce their exposures to vulnerable sectors and to increase ancillary or fee-based business while thrift banks and rural/cooperative banks plan to fast track digitization initiatives to reduce operating expenses,” said the BSP......»»

Category: newsSource:  mb.com.phRelated NewsNov 8th, 2020

Big businesses sacrifice to prop up economy during pandemic

The country’s top corporations have shown that they have been walking the talk even before signing the Covenant for Shared Prosperity wherein they have sacrificed profitability in order to take care of their stakeholders and ensure sustainability.                 SM Prime Holdings Inc. Chairman Hans T. Sy said that, during this pandemic, “We were the first to announce to continue all the salaries even when we were all down. So these are all sacrificing profits. Why do we do that? …We are all looking into long term. Investment is not only just for the short term basis, it is really for the long term we’re in here.” SM Prime Holdings Inc. Chairman Hans T. Sy (left) and Ayala Corporation Chairman Jaime Augusto Zobel de Ayala.               Ayala Corporation Chairman Jaime Augusto Zobel de Ayala agreed with Sy, noting that most businesses, “in one way or another has suffered a great deal of pain and, in many ways, to preserve the ecosystem, to retain their employees, the people that support them.”              “I have 1001 examples that I’ve seen during this crisis of everybody sacrificing a great deal,” he noted.              Sy and Zobel were keynote speakers during the launching of the Philippine Business Community’s Covenant for Shared Prosperity organized by the Management Association of the Philippines.              “As we struggle with the COVID pandemic, we also need to address the critical longer-term global issue of inequality which has worsened because of the current health crisis. Many businesses have closed, millions have lost jobs and many are going hungry,” said MAP President Francis Lim.              He noted that, “When the crisis is over, we at MAP would like to see a new ‘normal’ in the way we deal with our stakeholders — our employees, customers, product/service/fund providers, the communities we serve (especially the bottom of the pyramid), the environment and our shareholders (both majority and non-controlling shareholders).”             Lim explained that, “The Covenant… is envisioned to be the private sector’s response to the stakeholder theory now enshrined under the Revised Corporation Code.”             Securities and Exchange Commission Chairman Emilio Aquino explained that the stakeholder theory is a major shift in focus of businesses which used to be focused only in the interests of its stockholders.             Aquino said that, now, publicly-listed companies “are mandated to report on their economic, environmental and social impacts which further strengthened the Stakeholder Theory. At this point, we have seen a drastic paradigm shift in the way corporations do business and create shareholder value. Profit, while essential in the survival of the corporation, is not anymore the sole focus of corporate ventures.”            “Maybe it had to take a beast like COVID-19 for all of us to understand that we all have to support each other as communities and institutions if we are to rebuild successfully,” said Zobel.            He added that, “Now, more than ever, we have to find ways to expand our traditional definition of who we are responsible for and accountable to – well beyond our shareholders and other providers of capital; well beyond the sole pursuit of profit.”.....»»

Category: newsSource:  mb.com.phRelated NewsNov 8th, 2020