BusinessMirror November 06, 2020

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Friday, November 6, 2020 Vol. 16 No. 29

P25.00 nationwide | 2 sections 16 pages | 7 DAYS A WEEK

MAY IMPERIL RECOVERY

DOG handlers train “Covid-19 Detection Dogs” in sniffing coronavirus during their final phase of training at the Ynares Center in Antipolo City on Thursday, November 5, 2020. A private group initiated the undertaking to develop dogs that will help in fighting the coronavirus by detecting the virus in infected persons.

Several institutions abroad have been conducting similar trainings with dogs, and have thus far reported a rather high capacity by the canines to detect if a person has the virus. NONOY LACZA

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By Bianca Cuaresma

HE International Monetary Fund (IMF) has warned economic managers not to withdraw policy support from their respective economies until recovery is certain, durable and entrenched.

In a recent IMF webinar on Asia-Pacific prospects, IMF Regional Office for Asia and the Pacific Director Chikahisa Sumi advised governments not to be complacent in withdrawing monetary and fiscal support at the first sign of economic recovery in respective jurisdictions.

“Policy support is needed until recovery is entrenched,” the IMF

director said.

The IMF earlier said it projects an 8.3-percent contraction in gross domestic product (GDP) growth for this year. This is the weakest growth projected for 2020 in Southeast Asia. For next year, the projection for the Philippines is to grow by 7.4 percent—one of the highest recovery projections in the region for 2021.

The director said despite the positive prospects for next year, further easing and unconventional monetary policy is still recommended as feasible.

“The IMF is advising not to withdraw policy support prematurely, but to make sure that the recovery is very durable and entrenched before the support is withdrawn,” Sumi said.

TYPHOON DAMAGE, PORK PRICES TO FUEL INFLATION; PSA SAYS OCT PRINT AT 2.5%

By Cai U. Ordinario SUMI: “The IMF is advising not to withdraw policy support prematurely, but to make sure that the recovery is very durable and entrenched before the support is withdrawn.” IMF.ORG

Aggressive BSP

THE Bangko Sentral ng Pilipinas (BSP) has been aggressive in pumping the economy with stimulus to keep it running amid the disruptions caused by the global pandemic. Aside from easing regulatory restrictions, releasing billions in liquidity into the cash stream via the reserve requirement ratio (RRR) cuts and remittances to the national government, the BSP has cut its rates four times in the last eight months.

In February, its first meeting of the year, the BSP cut its rates by 25 basis points as the threat of Covid-19 emerged in other countries. In March, just days after the first implementation of community quarantine in Luzon, the BSP cut its interest rates by 50 basis points.

Continued on A2

See “IMF,” A2

Low capacity utilization still haunts manufacturing

THE Cavite-De La Salle Covid-19 Diagnostic Center (CDCDC) was unveiled on Thursday at De La Salle Medical and Health Sciences Institute. A partnership between Cavite’s provincial government and the DLS-MHSI, the state-of-the-art molecular laboratory can process up to 1,500 Rt-PCR tests daily and is the only official provincial testing center in Cavite. At the inauguration are (from left): OIC for Vice Chancellor for Shared Services Arlene Lacorte; CDCDC Diagnostics Unit Head Dr. Ludivina Solis; CDCDC Interim Laboratory Manager Dr. Concepcion Ang; Chief of Clinics Dr. Ardith Dominguez-Tan; ICO Director Haydee Sy; Institutional Chaplain Fr. Daniel Polzer; Cavite Gov. Jonvic Remulla; Dr. Alex Bello; and Vice Chancellor for Research Dr. Charles Y. Yu. CONTRIBUTED PHOTO

PESO EXCHANGE RATES n

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AMAGE sustained by the agriculture sector from recent typhoons as well as the increase in pork prices due to the African Swine Fever (ASF) could increase inflation in the coming months, according to the National Economic and Development Authority (Neda) and local economists.

On Thursday, the Philippine Statistics Authority (PSA) said commodity prices increased 2.5 percent in October. This was higher than the 2.3 percent posted in September and 0.8 percent in October 2019.

In a statement, Acting Socioeconomic Planning Secretary Karl Kendrick T. Chua said, however, that inflation will remain with the government’s expectation of 2 percent to 4 percent for the year.

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HE country’s manufacturing sector continued to suffer from low capacity in September as it posted a capacity utilization rate of below 70 percent for the third consecutive month this year, according to the Philippine Statistics Authority (PSA).

Based on the results of the Monthly Integrated Survey of Selected Industries (Missi), the average capacity utilization rate of the manufacturing sector was at 67.6 percent in September. Prior to this, the average capacity utilization

US 48.3920

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JAPAN 0.4632

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UK 62.8612

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HK 6.2397

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CHINA 7.2715

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SINGAPORE 35.6479

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was at 67.2 percent in August and 67.1 percent in July.

National Statistician Dennis S. Mapa said prior to July, the lowest average capacity utilization rate of the manufacturing sector was recorded 18 years ago in July and August of 2002 at 74.3 percent.

“Capacity utilization rate is the ratio of total output to the maximum rated capacity of the establishment. Rated capacity refers to the largest volume of output possible at which the factory can operate with an acceptable degree

AUSTRALIA 34.7116

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EU 56.7445

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of efficiency taking into consideration unavoidable losses of productive time [i.e., vacation, holiday and repair of equipment] and availability of raw materials,” the PSA explained.

Data showed eight of the 20 industry groups had at least 80 percent average capacity utilization rate, led by machinery except electrical at 92 percent, followed by furniture and fixtures at 88.4 percent, and paper and paper products, 86.8 percent.

See “Utilization,” A2

SAUDI ARABIA 12.9035

Source: BSP (November 5, 2020)

News BusinessMirror

A2 Friday, November 6, 2020

www.businessmirror.com.ph

PHL vaccine drive’s start may be moved to May 2021 P

By Samuel P. Medenilla

OSSIBLE constraints in the supply chain of vaccines for Covid-19 will delay the government’s target date next year to launch its vaccination drive against the pandemic.

In an interview with PTV on Thursday, the chief implementer of the government’s national policy on Covid-19 and vaccine czar, Carlito Galvez, announced he revised the timeline in their proposed Philippine National Vaccine Roadmap (PNVR) after get-

ting the latest information from the Department of Health (DOH) on the progress of development of potential Covid-19 vaccines.

Instead of March 2021, the vaccination drive may be held in May of 2021.

“So the best-case scenario is

to have the clinical trials [for Covid-19 vaccine] within the first quarter [of 2021] and then later just in case there will already be a mass production [of the vaccine], we will be able [to conduct] it by mid of 2021,” Galvez said.

However, he said they are not discounting the “worst-case scenario,” wherein the vaccine for Covid-19 will not be available until the second half of 2021.

Given the said scenario, the government will have to prolong its enforcement of minimum health standards and restrictions related to Covid-19.

Distribution strategy

ASIDE from health officials, Galvez said he also met on Wednesday with representatives from Zuellig Pharma, Ayala Healthcare and

GALVEZ: “We will have the logistics summit so we could iron out the complexities of the logistics [aspect of their vaccination drive].” AP

Unilab to be oriented on the different kinds of cold-chain facilities they will need for their vaccination drive.

This is in preparation for the “logistics summit,” which he is pre-

paring so the government could tap the cold-chain storage facilities and delivery trucks of the private sector.

“We will have the logistics summit so we could iron out the complexities of the logistics [aspect of their vaccination drive],” Galvez said.

Based on his initial discussions with the private sector, Galvez said they will be establishing “main storage hubs” and “subsidiary facilities” for the effective distribution of Covid-19 vaccines.

He said Aboitiz Transport System (ATS) has initially offered the government to have access to its freezer and refrigeration units.

Galvez earlier said the Covid-19 vaccine must be kept in constant low temperature to maintain its efficacy.

SENATE, PALACE SIGNAL BID TO DELAY MOVE TO END VFA S ENATE leaders are in no rush to tackle calls to terminate the RP-US Visiting Forces Agreement (VFA).

“Give us time to review, rethink and assess our defense relationships,” Senate President Vicente Sotto III said on Thursday.

Asked if the senators are looking to come up with a “new” VFA providing better terms, Sotto indicated there may be “no need to do so.”

“We can simply come to some agreements on amendments,” the Senate leader said.

Sotto suggested, for instance, that it could include “a provision on automatic US defense posture on any aggression against the Philippines.”

The Senate leader added, however, he would still need to verify if that would still require

Senate concurrence. “It depends.

Maybe not. I’ll have to check.”

In a radio interview, Sotto signaled support for reviewing the defense accord, in the wake of recent signals from the Executive indicating that President Duterte may move back anew the “six-month” termination process.

Duterte initially ordered Foreign Affairs Secretary Teodoro Locsin Jr. to serve a notice of termination of the VFA to the US Embassy in Manila, after what Palace officials described as a series of frustrating developments, capped by the cancellation of the US visa of his former close aide, now Senator Ronald de la Rosa.

Midway into the six-month process of termination that starts to run with the service of notice, Locsin, on Palace orders,

notified the US government that Manila decided to suspend the termination process.

Suspension extended

EARLIER this week, Locsin hinted that the suspension period of the VFA, which was to end this December, will continue.

In his Asia Society speech, he told the audience: “Let me assure you that in suspending the abrogation, not a single protagonist in the South China Sea is unhappy, worried or anything; but totally satisfied that we have suspended the abrogation because it has restored the status quo ante, it has brought everything back the way they did since World War II.” Asked what would happen to the VFA come December, Locsin said, “I don’t know. We will look at the situation.”

During a tense moment in September, the Americans sent a battle group twice to the South China Sea apparently to show their commitments to defend their Asian allies. This coincided with the conduct by the Chinese of military exercises in the contested waters.

“An American power has been in full display since then.

The Seventh Fleet has been deployed. The Air Force has been deployed. Tensions are rising in the South China Sea throughout Southeast Asia. I reported this to the President,” Locsin said.

“I said in Asia Society that the military presence of the United States in Asia is essential to stability and that’s basic,” Locsin recalled in an interview with CNN Philippines this week.

“That’s the basic balance of power theory. You need them out

there because, even among best friends, even among very good friends, if one guy feels that the [inaudible] over the other, he might just take advantage of that advantage, however, if the other guy has another friend in the area, then I think everybody starts to think 10 times before overreaching, so I said, there’s no doubt in my mind, the US is an essential hegemonic presence in Asia,” he added.

So, would you recommend the continuation of the Visiting Forces Agreement after the suspension of the abrogation ends in December? CNN Philippines host Pinky Webb asked.

Locsin said he is going to study it “and at the same time I have a great profound respect for the wisdom of my President.”

Butch Fernandez, Recto L. Mercene

Typhoon damage, pork prices to fuel inflation; PSA says Oct print at 2.5% Continued from A1

“Aside from the ongoing pandemic, the country has been facing adverse weather conditions in the recent months. Effects of typhoons and La Niña on the agriculture sector and food prices pose upside risks to inflation,” Chua said.

Neda said the latest projections from the Department of Agriculture (DA) show the supply of key food products will likely remain sufficient until the end of the year. However, agricultural damage may put food supply at risk, and thus put pressure on prices.

In a research note, Bank of the Philippine Islands (BPI) said “the expected increase in pork prices may keep inflation above the policy rate.” Nonetheless, BPI said inflation will also be within the 2-percent to 4-percent target of the Central Bank given the favorable outlook for oil prices.

In a briefing, National Statistician Dennis S. Mapa said the PSA has already observed a trend that meat prices are increasing, particularly in Luzon. In October, pork

prices were among the primary reasons for the uptick in inflation.

Mapa said the spike in pork prices was observed due to the ASF. Data showed that the average price of pork increased by 29 percent in the National Capital Region alone, while in areas outside Metro Manila, there was a 12-percent increase.

He said the PSA observed that pork prices were higher in areas nearer to Metro Manila. In Pampanga, Mapa said, the average price of pork is P248 per kilo in October 2020, 36.26 percent higher than P182 per kilo in October 2019.

“A key strategy for food security and food price stability during uncertain times is to prolong the shelf life of agricultural goods.

This may come by way of introducing proper technology and increasing investments in warehouses and cold storage facilities in strategic locations,” Chua said.

Cost vs demand

MEANWHILE, De La Salle University economist Maria Ella C. Oplas said prices are also expected to increase as the holidays approach.

She said this means inflation in the coming months would also be demand-driven.

Oplas said this will likely be observed in the last week of November when 13th-month benefits are expected to be released by firms. She said many Filipinos are starting to “invade malls” during weekends and this could already be the first signs of Christmas shopping.

“It’s going to be a modest Christmas for all of us but definite-

ly, people will be demanding more and consuming more,” Oplas told BusinessMirror.

However, ING Bank Manila Senior Economist Nicholas Antonio T. Mapa said inflation is not expected to accelerate in the coming months due to “depressed economic conditions.”

Mapa said demand is expected to remain depressed and would lead GDP growth to contract until the first quarter of 2021. Nonetheless, he agreed that the impact of the ASF and recent typhoons on inflation cannot be ruled out.

This has already been observed in the October inflation data where food inflation driven by the ASF as well as transportation and education costs pushed up commodity prices.

“Supply-side factors, however, cannot be ruled out, such as bouts of the African Swine Fever affecting meat prices or typhoon damage affecting vegetable and food inflation,” Mapa told BusinessMirror via email.

Prices and poverty

THE PSA reported that while inflation for all households nationwide averaged 2.5 percent in October, the poorest households or those belonging to the bottom 30 percent of the population saw even higher inflation at 2.9 percent last month.

PSA’s Mapa said inflation for the bottom 30 percent in October was higher than the 2.8 percent recorded in September and the deflation of 0.1 percent in October 2019.

He said this was largely due to higher food prices. Poor households spend more for food compared to nonpoor families nationwide.

The weight of food in the Consumer Price Index (CPI) for the bottom 30 percent is 55.04 percent.

This is higher than the weight of food in the CPI for all households at 35.46 percent.

With this, Mapa said, if prices increase but the income of poor households or even those who are near poor declines or stays stagnant, the country’s poverty rate could increase.

“It can be a benchmark; in general, if the prices of food items [e.g. rice, fish, meat] continue to increase, the food threshold will also increase,” the country’s National Statistician told BusinessMirror.

“Assuming no increase in income of the households at the bottom income bracket, then we expect poverty incidence to increase. But if income grows faster, the outcome will be different,” he added.

BPI Lead Economist Emilio S. Neri Jr. told BusinessMirror that the poor economic environment and bad weather in October may have increased poverty.

Neri said if the national government would spend more in November and December, more people will gain the confidence to spend and prevent people from falling into poverty.

ING’s Mapa agreed and said rising inflation for poor households and a “challenging job environment” would likely cause more Filipinos to become poor.

He noted that Marikina Representative Stella Quimbo had said, “it’s easier for families to fall into poverty than to get them out of poverty.”

However, Oplas said the increase in the inflation experienced by the poorest households may indicate that even the poor are spending.

She explained that while inflation means prices of commodities are higher, it could also indicate economic activity. She said demand for goods and services may have caused inflation to spike.

“While there are people who will be able to afford buying goods now, there will be people, too, that found jobs and are still buying,” Oplas said.

PSA said with the higher October inflation rate, the yearto-date inflation for 2020, at 2.5 percent, is still within the government’s targets.

Core inflation, which excludes selected food and energy items, however, decelerated to 3 percent in October 2020, from 3.2 percent in the previous month. In October 2019, core inflation was posted at 2.6 percent.

Higher overall inflation was primarily caused by the increase in the inflation of the heavily weighted food and nonalcoholic beverages at 2.1 percent during the month, from 1.5 percent in September 2020.

Likewise, annual mark-ups were higher in the indices of education at 1.2 percent, and restaurant and miscellaneous goods and services, 2.4 percent.

IMF… Continued from A1

This was supplemented by another 50-basis-point cut in an offschedule Monetary Board meeting in April, and another 50-basis-point cut in June.

However, in their last two meetings, the BSP moved to keep all interest rates unchanged.

As to whether the BSP will continue to move back to further easing or not will depend on the GDP print for the third quarter.

Diokno: Awaiting Q3

DIOKNO told reporters on Thursday that they are awaiting the third-quarter economic growth data of the country to complete the assessment for the upcoming monetary policy meeting two weeks from now.

“The Monetary Board will consider the latest inflation number together with the 2020 third-quarter GDP data in its assessment of the outlook for inflation and economic activity for the monetary policy meeting on 19 November 2020,” Diokno said.

This is after inflation proved to be stable in October, hitting 2.5 percent during the month. The October print has been consistent with the BSP’s earlier assessment of favorable inflation dynamics.

The steady inflation numbers of the country despite disruptions in both the supply and demand chain due to the global pandemic are expected to give the BSP more elbow room to deploy monetary measures to prop up the economy into recovery mode.

Aside from further monetary easing and other unconventional monetary tools, the IMF recommended putting greater attention on elevated financial risks and letting exchange rate continue to act as a shock absorber to the economy.

Meanwhile, Diokno said the BSP continues to “stand ready to deploy all available measures in its toolkit” and will keep assessing the impact of the global health crisis on the domestic economy.

Utilization…

Continued from A1

The PSA said that 42 percent of manufacturing firms operated below 70 percent and 40.3 percent operated at 70 to 89 percent capacity in September. Only 17.7 percent of the total operated at full capacity or between 90 percent and 100 percent.

Meanwhile, the Volume of Production Index (VoPI) for the manufacturing sector contracted 8.4 percent in September.

This is an improvement from the 9-percent decline in the VoPI in August 2020. However, this remains below the 6.5-percent contraction posted in September 2019.

“The major contributor to the slower decline in VoPI for the manufacturing sector in September 2020 were the two-digit expansions observed in basic metals and food manufacturing with annual increases of 14.4 percent and 10.2 percent, respectively,” the PSA said.

The PSA noted that the slower drop in the indices of 10 industry groups also tapered off the rate of decline in the index for the sector.

In terms of the Value of Production Index (VaPI), PSA data showed it posted a contraction of 11.9 percent in September 2020.

This was an improvement from the decline of 13.3 percent in the previous month. In September 2019, VaPI contracted 6.5 percent.

“The September 2020 figure was the seventh consecutive month that VaPI had a negative growth and the fifth straight month that it was declining at a slower rate,” the PSA said.

The PSA said the improvement in the VaPI versus the August data was due to the increases in the indices of four industry groups, namely, basic metals (12.3 percent), food manufacturing (11.6 percent), chemical products (5.6 percent), and miscellaneous manufactures (1.6 percent).

It said another factor that contributed to the slower drop in September 2020 for the sector were the slower declines in the indices of 10 industry groups.

Missi is a report that monitors the production, net sales, inventories and capacity utilization of selected manufacturing establishments to provide flash indicators on the performance of the manufacturing sector.

Cai U. Ordinario

The Nation BusinessMirror

www.businessmirror.com.ph

Editor: Vittorio V. Vitug • Friday, November 6, 2020 A3

House may strip military’s BDP fund for Rolly recovery

By Jovee Marie N. Dela Cruz @joveemarie

& Butch Fernandez @butchfBM

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HOUSE leader on Thursday proposed for the rechanneling of the P16.44-billion budget allotted for the proposed Barangay Development Program (BDP), a controversial military-led campaign to develop villages affected by the communist-led insurgency, to areas hit hard by Typhoon Rolly.

House Ways and Means Committee Chairman Joey Sarte Salceda stressed proposed projects under the National Task Force to End Local Communist Armed Conflict (NTFELCAC) are projects that should be included in the 2021 national budget.

Salceda, congressional representative of the Second District of Albay, said the rechanneling of these funds will help mitigate the damage brought by the typhoon. Albay and Catanduanes are among the areas hardest hit by Typhoon Rolly.

Salceda estimated the economic toll of Typhoon Rolly to be at least P21 billion, adding that some of the countryside development projects under the task force can surely help in the reconstruction after the destructive typhoon.

“We’re looking at P6 billion in infrastructure damage, P3 billion in damage to agriculture, and at least P12 billion in damage to private property. This does not count the opportunity costs, of course, as Bicol will suffer from economic slowdown for a while, on top of our Covid-19 problems. So, budgetary adjustments towards hard-hit areas are welcome,” Salceda said.

The lawmaker added he will bring his proposal to the Bicam on the national budget. “[The P16 billion allocation] can mislead one into thinking that this is a direct national security budget, when the items are actually for countryside development. The idea is that when you build roads in the countryside, you are creating opportunities for economic development, and minimizing the incentives for joining the armed conflict,” said Salceda.

“I appreciate the framework that sees armed conflict as ultimately rooted in poverty and underdevelopment. So, the countryside development programs under the task force is an acknowledgment that some solutions are not military in nature,” he added.

Deference

FOR his part, National Security Ad-

viser Hermogenes Esperon said the task force will respect the decision of Congress if it will slash the budget for BDP. “I am amenable to the wisdom of the Senate if they decide to cut the BDP fund. However, I am also optimistic that senators will adhere to the objective of the program because it will benefit more people,” said Esperon, vice chairman of the NTF-ELCAC. The House has already transmitted the national budget to the Senate for its own deliberations.

President Duterte, the NTF-ELCAC chairman, approved the budget proposal for the said program.

Even all governors expressed support to the BDP as per the resolution they passed, Esperon added.

The P16.44-billion budget for BDP is being requested by the NTF-ELCAC. The P16.44 billion will be given to 822 cleared barangays, which will be provided P20 million worth of barangay development package per village.

The package includes farm-tomarket roads, school buildings, water and sanitation system, national greening program, health stations, electrifications, crops, livestock and fisheries, intercon-

nectivity and livelihood.

The Makabayan bloc, amid the red-tagging issue, and opposition senators, said a large chunk of the proposed budget for the NTF-ELCAC, should be spent for typhoon victims of the recent destructive typhoon.

Meanwhile, Esperon dared the Makabayan bloc to show courage and face them in another congressional hearing to “show who are telling the truth about red-tagging issue.”

According to Esperon, the congressional hearing could be the best opportunity for both camps to clarify matters about the redtagging controversy.

Appreciation

MEANWHILE, ACT Teachers Rep. France Castro thanked Speaker Lord Allan Velasco for defending the Makabayan bloc in the face of accusations that so-called progressive lawmakers are members of the Communist Party of the Philippines (CPP).

Castro, in an interview, admitted that they did not expect to get the support of the House leadership in the red-tagging issue as it’s the “first time that a House Speaker acted the way Velasco did.”

“Kahit paano we feel protected and assured kami sa pahayag ni

Speaker, pero syempre ingat pa rin kami sa aming kaligtasan aware na kami sa aming security,” Castro said.

In a news statement, Velasco earlier defended the bloc against the redtagging of certain House members.

“As Speaker of the House, I am duty bound to protect them from potential harm due to these careless accusations.” Velasco told Lt. Gen. Antonio Parlade Jr., NTFELCAC spokesman and chief of the Southern Command, to “be careful” with his words against certain House members.

“We may not agree with them on certain issues but be mindful that these lawmakers are duly elected representatives of the people, and implicating them on issues that have yet to be substantiated is uncalled for,” Velasco stressed.

‘Save lives’

PRESIDENT Duterte was prodded Thursday to “rechannel” the BDP to assist victims in areas devastated by recent typhoons Quinta and Rolly.

In a news statement, Sen. Francis Pangilinan pointed to the multibillion budget is lodged in the proposed 2021 budget allotted for NTF-ELCAC. “Marami-raming food packs,

tahanan, daanan, tulay, classroom ang maaabot ng 19-bilyong-pisong halaga ng anti-insurgency budget para sa mga nasalanta sa Bicol, Southern Luzon at iba pang mga probinsya,” the senator said.

Pangilinan proposed that the available fund be used to save dislocated typhoon victims. “Gamitin natin ang pondong ito para masagip ang mga kapwa nating Pilipino na walangwala na ngayon,” he added.

The senator suggested that the fund may also be used to augment the calamity fund and quick response fund of some provinces that have already been depleted amid the quarantine period due to the coronavirus pandemic.

He noted that several local government unit executives conveyed reports that response to the calamity has been hobbled by the lack of fund, having been previously used for Covid-19 victims.

Pointing out that the NTF-ELCAC was also hounded by criticisms amid reports of fake surrenders and red-tagging as authorities carry out the government’s campaign against insurgents, the senator proposed that, “we should be allocating and spending our meager resources to save lives, not endanger lives.”

Kalinga, Apayao, Benguet brace for Siony; Albay, Catanduanes reel from Rolly’s wrath

RESIDENTS watch as a backhoe clears boulders and mudflows from Mayon Volcano triggered by heavy rains from Typhoon Rolly in the town of Guinobatan, Albay, on Monday, November 2, 2020. AP

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ESIDENTS living in flood and landslide-prone areas in three provinces in the Cordilleras have been preemptively evacuated as the government stepped up its preparation for Siony, which had been forecasted to intensify into a typhoon as it passes over Batanes today, Friday.

The evacuation of threatened residents in Kalinga, Apayao and Benguet were undertaken as the government continued the relief operation and damage assessments in the provinces battered by Typhoon Rolly, particularly Albay and Catanduanes.

The Philippine National Police reported that 28 people have been killed while 44 others have been injured due to Typhoon Rolly. Six others remained missing.

The National Disaster Risk Reduction and Management Council also reported that the damage to infrastructure and agriculture has already reached a total of more than P11.3 billion.

The Department of Public Works and Highways said that all national roads in Albay and the adjoining province of Camarines Sur are already passable following days of massive clearing operations.

“We’d like to extend our gratitude to DPWH Sorsogon 1st and 2nd DEOs [district engineering offices] with their additional manpower and equipment deployed in Albay that allowed us to fast-track the opening of roads affected by the recent super typhoon,” said Public Works Secretary Mark A. Villar.

Villar said they were also eyeing to augment DPWH teams in Catanduanes, in order to hasten the ongoing clearing operations there.

The DPWH said three national roads in the province remained im-

passable as of Thursday morning due to landslides, fallen trees and toppled electric posts.

Gatchalian: Tap emergency fund

SEN. Sherwin T. Gatchalian is urging affectedelectriccooperatives(EC)totap an existing P250-million emergency fundtoquicklyrestoredisruptedpower supply in typhoon-ravaged areas.

Gatchalian, chairman of the Senate’s energy committee, confirmed the available fund in the 2020 national budget was precisely allocated for EC’s to draw from “to finance rehabilitation works on damaged power lines.”

The senator advised ECs to “seek aid under Republic Act 11039, otherwise known as the Electric Cooperatives Emergency and Resiliency Fund (ECERF), to hasten the restoration of power supply in typhoon-ravaged communities.”

In a news statement, Gatchalian confirmed initial reports that “power and communication lines are down in most parts of Catanduanes and Albay,” which bore the brunt of the onslaught of Typhoon Rolly.

“Reports say it may take at least 2 months to restore power in Albay since more than 70 percent of electric poles throughout the province were severely damaged,” the senator said, stressing the urgency of restoring power supply in affected areas.

Even as affected areas have yet to fully recover, the senator pointed out that after typhoons Quinta and Rolly, “the country now prepares for tropical storm Siony which experts predict to intensify while possibly making landfall between Thursday night and Friday morning.”

He, however, clarified that the emergency and resiliency fund ad-

ministered by the National Electrification Administration (NEA) is allocated exclusively for the restoration, or rehabilitation of ECs, or distribution utilities’ (DUs), damaged infrastructures after a fortuitous event or force majeure.

Gatchalian recalled that the ECERF, signed into law by President Duterte on June 29, 2018, had an initial appropriation of P250 million for 2020 which remained unused as of June 30, 2020.

The senator affirmed that “electric cooperatives and distribution utilities can draw funds from ECERF to enable them to repair their facilities as quickly as possible,” noting that a lot of electric poles were toppled by typhoons Quinta and Rolly. “They can tap these funds in seeking financial assistance from the government,” the senator said.

Gatchalian, who principally authored and sponsored RA 11039, clarified that “this is a response fund.”

“We have to utilize this in anticipation of situations like these.

They can quickly restore power lines without having to worry about the pass on costs to the customers they serve,” the senator stressed.

Shelter reconstruction aid

THE Department of Human Settlements and Urban Development (DHSUD), will be providing its emergency assistance to those whose houses were damaged or destroyed

by Typhoon Rolly in cash through the local government.

DHSUD Secretary Eduardo del Rosario, in a news statement, said the government will provide P10,000 cash assistance to families whose houses were destroyed and P5,000 to those whose houses were partially damaged.

Del Rosario said this was the decision made after a coordinating meeting with the Department of Social Welfare and Development (DSWD), National HousingAuthority(NHA)andDHSUD Regional Offices 4A and 5.

“I have given instructions to concerned agencies, while waiting for the final data to be submitted by the local government units, to organize a number of teams that will go to the affected provinces, prepare the money, go to the affected areas and give the cash directly on the ground,” del Rosario said.

The DHSUD, through the NHA, will utilize funds from its Emergency Housing Assistance Program (EHAP). The DHSUD earlier told the BusinessMirror that this will amount to P1.175 billion and will be shouldered by both NHA and DSWD. Del Rosario also ordered DHSUD

officials, particularly directors from Regions 4A, 4B and 5 which were battered by “Rolly” to immediately meet with their counterparts from the NHA and the DSWD to discuss the delivery

mechanisms and organize teams to immediately deliver the assistance.

Initial reports showed that at least 79,000 houses have been partially damagedbythetyphoonwhileanother

30,384 were destroyed by the strongest typhoon so far to hit the country this year. Most of the damaged houses were made from light materials. Rene Acosta, Butch Fernandez and Cai U. Ordinario

A4 Friday, November 6, 2020 • Editor: Vittorio V. Vitug

Economy BusinessMirror

EU pledges additional ₧8.5-B grant for Mindanao development

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By Bernadette D. Nicolas @BNicolasBM & Cai U.Ordinario @caiordinario

HE European Union (EU) has committed an additional P8.5 billion worth of grants to the Philippines, of which, two-thirds will help finance programs to boost agricultural productivity in Mindanao and provide electricity to its far-flung small island-communities.

In a news statement issued on Thursday, the DOF said the commitment was made during a recent meeting between Finance Secretary Carlos G. Dominguez III and Thomas Wiersing, the charge d’affaires of the EU Delegation to the Philippines to discuss the progress of development cooperation between the Philippines and EU.

P63M for typhoon relief

The EU will also be extending €1.3 million, or P63 million, to assist the Philippine government in responding to the needs of the victims of Typhoon Rolly.

The EU said the amount will be used for humanitarian aid funding to deliver emergency relief assistance

to families affected by the typhoon.

The funding, which is part of the EU’s Acute Large Emergency Response Tool (ALERT), will be used for shelter, food and livelihood assistance, as well as access to clean water and health care.

“This contribution will support the Filipino people via our humanitarian partners on the ground who are providing critical support to those hit hardest by Typhoon Goni.

It will not only cover the immediate needs of the most affected populations, but will also help the Filipino people restore their homes and livelihoods so they can get back on their feet as soon as possible. The EU stands in solidarity with those affected in the Philippines,” Janez

Lenarčič, EU Commissioner for Crisis Management, said.

The ALERT is used to respond to large natural disasters where over 100,000 people or over 50 percent of the population are affected.

Peace and development

AS of August this year, the EU has extended a total of euro 85 million-worth of grants for the government’s peace and development initiatives in Mindanao.

On behalf of the Philippine government, Dominguez thanked the EU for continuing to support the Duterte administration’s peace- and confidence-building initiatives as well as for its assistance in boosting trade and agricultural productivity in Mindanao.

During the meeting, Wiersing also reaffirmed EU’s intention to reorient portions of its grants to the Philippine government’s Covid-19 response efforts in Mindanao.

In response, Dominguez expressed appreciation to EU for this plan and its intention to provide support to cash-strapped local government units (LGUs) in the South.

Dominguez likewise welcomed the EU’s plan to provide grants for the electrification of Mindanao’s small island-communities and suggested the use of clean energy to implement this project.

Christoph Wagner, the new head of cooperation of the EU Delegation,

welcomed the importance placed

by Dominguez on the issue of the climate crisis with his clean energy recommendation for Mindanao’s rural electrification.

Moreover, Dominguez also sought EU’s expertise and assistance in accelerating the competitiveness of the Philippines’s manufacturing sector, given its weaknesses as a result of the country’s sudden jump from an agriculture to a services-based economy.

He said strengthening and incentivizing the manufacturing sector will help the Philippines sustain its recovery from the pandemic.

With its large manufacturing base, EU can share its technical expertise or extend assistance in providing the necessary equipment to help integrate medium-sized enterprises in the supply chain of big companies, he added.

Apart from these, Dominguez also broached the possibility for the EU to assist the Duterte administration in its efforts to provide individual land titles to agrarian reform beneficiaries, especially in Mindanao, so they could have property rights and access to credit facilities and other forms of financial support.

Wiersing also reiterated EU’s continuing assistance to institute reforms in the Philippines’s justice system through the second phase of the Justice Sector Reform Programme: Governance in Justice.

www.businessmirror.com.ph

Peza to launch senior executive academy for locator companies

By Elijah Felice E. Rosales @alyasjah

A

S part of efforts to develop human resources, the Philippine Economic Zone Authority (Peza) is establishing its own academy where senior executives in locator firms could undergo trainings to improve their skills and capabilities.

In a news statement, Peza Director General Charito B. Plaza said the agency is gearing up to launch its own Peza Academy. She added the academy will complement the Special Economic Zone Institute, where workers are trained to prepare them for labor opportunities in locator firms.

“Institutionalizing a Peza Academy is a must so we can achieve highly trained work force and ecozone managers. Even senior managers need continuing education. This is part of enhancing human capital that is essential in achieving the goal to fully industrialize and enhance the efficiency and competitiveness of the Philippines as an investment haven in Asia,” Plaza said in the same news statement.

According to the Peza chief, the Peza Academy will prioritize giving education and trainings to Peza officers and employees, as well as ecozone industry workers.

The objective behind putting up the academy is to create an internal education and training program to

DENR partners with PLDT-Smart for peatland conservation program

By Jonathan L. Mayuga @jonlmayuga

T

O help raise awareness on the importance of peatlands, particularly in the Caraga region, the Department of Environment and Natural Resources (DENR) is partnering with Philippine Long Distance Telephone Company (PLDT) and its wireless unit, Smart Communications Inc. (Smart), to jointly implement a peatland conservation program.

In a news statement, Environment Secretary Roy A. Cimatu underscored the importance of peatlands, a type of wetlands ecosystem vital in providing safe drinking water, assist in preserving global biodiversity and help reduce flood risks.

“Peatlands are dubbed as ‘one

of the most valuable ecosystems on Earth’ according to the International Union for Conservation of Nature, or IUCN, because apart from all these uses, they also help mitigate climate change and global warming,” Cimatu said.

Peatlands have peat soils consisting of carbon-rich dead and decaying plant matter.

If kept wet, peatlands can store twice as much carbon as all the world’s forests combined. Its crucial role in mitigating climate change, as well as the huge costs that arise when these natural carbon sinks are damaged, remains largely overlooked.

DENR and PLDT-Smart will present the conservation program on peatlands in a web activity that will be held today, November 6, to kick-off the Climate Change Con-

sciousness Week in the latter part of the month.

The peatlands to be featured in the conservation program will include the Caimpugan Peatland in the Agusan Marsh Wildlife Sanctuary (AMWS).

Located in Agusan del Sur, the Caimpugan Peatland holds the only recorded remaining intact peat swamp forest—the largest of its kind—in the Philippines.

PLDT Chairman and CEO Manuel V. Pangilinan will be the guest of honor for the virtual event.

Also participating in the web event is Ramsar Convention Secretary-General Martha Rojas-Urrego.

AMWS is designated as a Wetland of International Importance under the Ramsar Convention and is recognized as an Asean Heritage Park.

DA blanket ban on co-op rice importers risks challenge FFF National Manager Raul Q. Montemayor said it is possible that the suspension of the co-op importers would result in temporary decline of rice imports as unscrupulous traders seek measures to circumvent the laws anew.

“I don’t expect there to be a significant impact since the peak of the harvest has just been brought in. Also, duly registered enterprises continue to be eligible to apply for SPSIC [sanitary and phytosanitary import clearance] and import,” Tolentino told the BusinessMirror.

Tolentino said the temporary suspension would provide the government the opportunity to clean up the cooperatives sector “of such undeserving entities, especially with the work of the” Cooperative Development Authority (CDA).

“It’s true, as you already found, that there are many co-ops formed expressly to take advantage of the tax privileges of co-ops while importing rice. Thus, such entities may not be ‘true co-ops’ as meant by the tax privilege,” he said.

Economist Pablito M. Villegas told the BusinessMirror that he also frowns on a blanket ban on cooperatives importing rice as it “discriminates” against legitimate farmers groups.

However, he pointed out that it was right for the DA to ban the cooperatives being used as dummies by unscrupulous traders. Still, he cautioned that it

doesn’t solve the root of the problem.

Instead, the government should run after the backers and financiers of these cooperatives as they serve as the masterminds of the coop-for-traders dummy scheme, Villanueva said.

Furthermore, the dummy scheme issue also highlights the government’s lack of “accurate, reliable, and timely” data that would have aided policymakers to avert these unjust business practices, Villegas said.

“There should be a distinction between the legitimate cooperatives and the cooperatives that are just being used. The ban alienates legitimate cooperatives and second it does not solve the real problem,” he said via phone call.

TheCDAearlierexpressedopposition to the blanket ban as it is discriminatory against medium and large cooperatives that have sufficient capitalization to venture into rice business and importation.

(Related story: https://businessmirror.com.ph/2020/10/23/consensusreached-on-rice-imports-reforms/) On October 30, Dar issued Administrative Order 34, S. 2020 ordering the suspension of SPS-IC to cooperatives and associations, including irrigators’ associations for commercial purposes until further notice.

“It has been noted that contrary to the purpose of farmers’ cooperatives and associations and irrigators’ asso-

continued from a8

ciations, many FCAs and IAs have been engaged in importing rice instead of procuring local rice from local farmers.

FCAs and IAs imported almost half of the volume imported rice in 2019,” Dar said in the order.

“Adding insult to injury, there have been numerous reports that the SPSICs issued for importing rice have been misused or abused by unscrupulous traders and businesses using farmers’ cooperatives and irrigators associations as fronts. Taking advantage of the privileges provided by the law to the cooperatives to avoid their legal responsibilities and evade taxes,” he added.

Dar also ordered the Bureau of Plant Industry (BPI) to investigate the situation and consult with affected stakeholders to come up with new policies and rules “to avoid circumvention of the laws” that would protect both farmers and their cooperatives from exploitation and abuse.

The BusinessMirror broke the story last year that unscrupulous traders continue to use farmers cooperatives’ and associations as their fronts and dummies even after the rice industry was liberalized. (Read the awardwinning story here: https://businessmirror.com.ph/2019/10/31/ pre-and-post-rice-trade-liberalization-law-big-traders-gamingfarmer-groups/).

harness competencies of workers that would improve their performance, skills and capabilities important to their respective organizations, Plaza explained.

Amid the Covid-19 pandemic, Plaza said the world is but a huge market, and the country has to showcase why it is best to invest in the Philippines.

Having a labor force that is capable of carrying out multiple tasks is advantageous in attracting investors to the country, she added.

“Thinking global means the Philippines must become an active contributor to the global supply chain by increasing the country’s export, manufacturing, and production capability in order to encourage large export companies and foreign direct investors,” Plaza said.

“Peza aims to create the country as an investment haven in Asia by acting local, addressing the efficiency factors for attracting investments. This includes to lower the cost of doing business in the country by constructing logistics and transportation hubs, such as international airports and seaports, to complete the local supply chain and eradicate importation of supplies, more public works and IT infrastructure,” Plaza added.

The Peza Academy’s curriculum will be patterned after a framework to be crafted by internal and external experts that have the knowledge and competencies on how economic zones operate across the world.

3 House bills push ‘Pinoy first’ policy in construction projects

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HREE bills seeking to prioritize the employment of Filipino workers and contractors in private and government construction projects have been filed in the House of Representatives.

The bills, which are now pending at the committee level, seek to amend Republic Act (RA) 4566, or the Contractors’ Licensing Law, to help Filipino workers amid the Covid-19 pandemic.

Davao Oriental Second District Rep. Mayo Almario filed House Bill (HB) 7816 that would impose stricter requirements on foreign participation in construction activities in the Philippines.

Under the proposed measure, no foreign contractor shall be given license to operate in the country unless the Philippine Contractors Accreditation Board (PCAB) certifies that no local contractor can undertake the project applied for.

“To fully protect the interests of the Philippines and her people, the Filipino contractor must be given priority in local construction activities to develop his own native land, and only if he cannot do it will a foreign contractor be allowed,” Almario said.

Almario said the current law allows foreign contractors to apply for contractor license, effectively putting them on equal footing with their local counterparts.

“This imminent imbalance of capital and trade will result in an unjust treatment of our local contractors and will inevitably result in the transfer of wealth to a foreign entity,” he added.

In his HB 7893, CWS Party-list Rep. Romeo Momo Sr. said he filed the bill to strengthen the safeguards for domestic micro, small and medium enterprises or MSMEs in the construction industry.

The proposal aims to “put Filipino first by ensuring that with the entry of foreign contractors, Filipino industry, labor and materials are given preference, instead of allowing foreign workers and suppliers to earn the lion’s share of local projects.”

Jovee Marie N. Dela Cruz

The World

Editor: Angel R. Calso

BusinessMirror

Friday, November 6, 2020

A5

Biden on brink of White House with Michigan, Wisconsin wins W

ASHINGTON— Joe Biden won the battleground prizes of Michigan and Wisconsin on Wednesday, reclaiming a key part of the “blue wall” that slipped away from Democrats four years ago and dramatically narrowing President Donald Trump’s pathway to reelection.

A full day after Election Day, neither candidate had cleared the 270 Electoral College votes needed to win the White House. But Biden’s victories in the Great Lakes states left him at 264, meaning he was one battleground state away from crossing the threshold and becoming president-elect.

Biden, who has received more than 71 million votes, the most in history, was joined by his running mate Kamala Harris at an afternoon news conference and said he now expected to win the presidency, though he stopped short of outright declaring victory.

“I will govern as an American president,” Biden said. “There will be no red states and blue states when we win. Just the United States of America.”

It was a stark contrast to Trump, who on Wednesday falsely proclaimed that he had won the election, even though millions of votes remained uncounted and the race was far from over.

The Associated Press called Wisconsin for Biden after election officials in the state said all outstanding ballots had been counted, save for a few hundred in one township and an expected small number of provisional votes.

Trump’s campaign requested a recount, though statewide recounts in Wisconsin have historically changed the vote tally by only a few hundred votes. Biden led by 0.624 percentage point out of nearly 3.3 million ballots counted.

Since 2016, Democrats had been haunted by the crumbling of the blue wall, the trio of Great Lakes states—Pennsylvania is the third—that their candidates had been able to count on every four years. But Trump’s populist appeal struck a chord with white working-class voters and he captured all three in 2016 by a total margin of just 77,000 votes.

Both candidates this year

fiercely fought for the states, with Biden’s everyman political persona resonating in blue-collar towns while his campaign also pushed to increase turnout among Black voters in cities like Detroit and Milwaukee.

Pennsylvania remained too early to call Wednesday night.

It was unclear when or how quickly a national winner could be determined after a long, bitter campaign dominated by the coronavirus and its effects on Americans and the national economy. But Biden’s possible pathways to the White House were expanding rapidly.

After the victories in Wisconsin and Michigan, he was just six Electoral College votes away from the presidency. A win in any undecided state except for Alaska—but including Nevada, with its six votes—would be enough to end Trump’s tenure in the White House.

Trump spent much of Wednesday in the White House residence, huddling with advisers and fuming at media coverage showing his Democratic rival picking up key battlegrounds. Trump falsely claimed victory in several key states and amplified unsubstantiated conspiracy theories about Democratic gains as absentee and early votes were tabulated.

Trump campaign manager Bill Stepien said the president would formally request a Wisconsin recount, citing “irregularities” in several counties. And the campaign said it was filing suit in Michigan, Pennsylvania and Georgia to demand better access for campaign observers to locations where ballots are being processed and counted, and to raise absentee ballot concerns.

At the same time, hundreds of thousands of votes were still to be counted in Pennsylvania, and Trump’s campaign said it was moving to intervene in the existing Supreme Court litigation over counting mail-in ballots there. Yet, the campaign also argued that it was the outstanding votes in Arizona that could reverse the outcome there, showcasing an inherent inconsistency with their arguments.

In other closely watched

races, Trump picked up Florida, the largest of the swing states, and held onto Texas and Ohio while Biden kept New Hampshire and Minnesota and flipped Arizona, a state that had reliably voted Republican in recent elections.

The unsettled nature of the presidential race was reflective of a somewhat disappointing night for Democrats, who had hoped to deliver a thorough repudiation of Trump’s four years in office while also reclaiming the Senate to have a firm grasp on all of Washington.

But the GOP held onto several Senate seats that had been considered vulnerable, including in Iowa, Texas, Maine and Kansas. Democrats lost House seats but were expected to retain control there.

The high-stakes election was held against the backdrop of a historic pandemic that has killed more than 232,000 Americans and wiped away millions of jobs. The US on Wednesday set another record for daily confirmed coronavirus cases as several states posted all-time highs.

The candidates spent months pressing dramatically different visions for the nation’s future, including on racial justice, and voters responded in huge numbers, with more than 100 million people casting votes ahead of Election Day. Trump, in an extraordinary move from the White House, issued premature claims of victory—which he continued on Twitter Wednesday—and said he would take the election to the Supreme Court to stop the counting. It was unclear exactly what legal action he could try to pursue.

Senate Majority Leader Mitch McConnell discounted the president’s quick claim of victory, saying it would take a while for states to conduct their vote counts. The Kentucky Republican said Wednesday that “claiming you’ve won the election is different from finishing the counting.”

Vote tabulations routinely continue beyond Election Day, and states largely set the rules for when the count has to end.

In presidential elections, a key point is the date in December

when presidential electors met.

That’s set by federal law.

Dozens of Trump supporters chanting “Stop the count!” descended on a ballottallying center in Detroit, while thousands of antiTrump protesters demanding a complete vote count took to the streets in cities across the US. Protests—sometimes about the election, sometimes about racial inequality—took place Wednesday in at least a half-dozen cities, including Los Angeles, Seattle, Houston, Pittsburgh, Minneapolis and San Diego.

Several states allow mailedin votes to be accepted as long as they were postmarked

by Tuesday. That includes Pennsylvania, where ballots postmarked by November 3 can be accepted if they arrive up to three days later.

Trump appeared to suggest those ballots should not be counted, and that he would fight for that outcome at the high court. But legal experts were dubious of Trump’s declaration.

Trump has appointed three of the high court’s nine justices— including, most recently, Amy Coney Barrett.

The Trump campaign on Wednesday pushed Republican donors to dig deeper into their pockets to help finance legal challenges. Republican National Committee Chairwoman Ronna McDaniel, during a donor call, spoke plainly: “The fight’s not over. We’re in it.”

The momentum from early voting carried into Election Day, as an energized electorate produced long lines at polling sites throughout the country.

Turnout was higher than in 2016 in numerous counties, including all of Florida, nearly every county in North Carolina and more than 100 counties in both Georgia and Texas. That tally seemed sure to increase as more counties reported their turnout figures.

Voters braved worries of the coronavirus, threats of polling place intimidation and expectations of long lines caused by changes to voting systems, but appeared undeterred as turnout appeared it would easily surpass the 139 million ballots cast four years ago. AP

Trump sues in 3 states, laying ground for contesting outcome

W

ASHINGTON—As Democrat Joe Biden inched closer to the 270 Electoral College votes needed to win the White House, President Donald Trump’s campaign put into action the legal strategy the president had signaled for weeks: attacking the integrity of the voting process in states where the result could mean his defeat.

Democrats scoffed at the legal challenges the president’s campaign filed on Wednesday in Pennsylvania, Michigan and Georgia. In spite of the aggressive move, the flurry of court action did not seem obviously destined to impact the election’s outcome.

The new filings, joining existing Republican legal challenges in Pennsylvania and Nevada, demand better access for campaign observers to locations where ballots are being processed and counted, and raised absentee ballot concerns, the campaign said.

The Associated Press called Michigan for Democrat Joe Biden on Wednesday. The AP has not called Nevada, Pennsylvania or Georgia.

The Trump campaign also is seeking to intervene in a Pennsylvania case at the Supreme Court that deals with whether ballots received up to three days after the election can be counted, deputy campaign manager Justin Clark said.

Trump’s campaign also announced that

it would ask for a recount in Wisconsin, a state the AP called for Biden on Wednesday afternoon. Campaign manager Bill Stepien cited “irregularities in several Wisconsin counties,” without providing specifics.

Biden said Wednesday the count should continue in all states, adding, “No one’s going to take our democracy away from us—not now, not ever.”

Campaign spokesman Andrew Bates said legal challenges were not the behavior of a winning campaign.

“What makes these charades especially pathetic is that while Trump is demanding recounts in places he has already lost, he’s simultaneously engaged in fruitless attempts to halt the counting of votes in other states in which he’s on the road to defeat,” Bates said in a statement.

Vote counting, meanwhile, stretched into Thursday. Every election, results reported on election night are unofficial and ballot counting extends past Election Day. But this year, unlike in previous years, states were contending with an avalanche of mail ballots driven by fears of voting in person during a pandemic.

Mail ballots normally take more time to verify and count. This year, because of the large numbers of mail ballots and a close race, results were expected to take longer.

The lawsuits the Trump campaign filed in Michigan and Pennsylvania on Wednesday called for a temporary halt in

the counting until it is given “meaningful” access in numerous locations and allowed to review ballots that already have been opened and processed.

The AP’s Michigan call for Biden came after the suit was filed. The president is ahead in Pennsylvania, but his margin is shrinking as more mailed ballots are counted. The state had 3.1 million mail-in ballots that take time to count and an order allows them to be received and counted up until Friday if they are postmarked by November 3.

Pennsylvania Attorney General Josh Shapiro, a Democrat, said in a CNN interview the Trump campaign’s lawsuit was “more a political document than a legal document.”

“There is transparency in this process.

The counting has been going on. There are observers observing this counting, and the counting will continue,” he said.

The Michigan lawsuit claims Secretary of State Jocelyn Benson, a Democrat, was allowing absentee ballots to be counted without teams of bipartisan observers as well as challengers. Michigan Democrats said the suit was a longshot. Poll watchers from both sides were plentiful Wednesday at one major polling place in question— the TCF Center in Detroit, the AP observed.

The Georgia lawsuit filed in Chatham County essentially asks a judge to ensure the state laws are being followed on

absentee ballots. Campaign officials said they were considering peppering a dozen other counties around the state with similar claims around absentee ballots.

Trump, addressing supporters at the White House early Wednesday, talked about taking the undecided race to the Supreme Court. Though it was unclear what he meant, his comments evoked a reprise of the court’s intervention in the 2000 presidential election that ended with a decision effectively handing the presidency to George W. Bush.

But there are important differences from 2000 and they already were on display. In 2000, Republican-controlled Florida was the critical state and Bush clung to a small lead. Democrat Al Gore asked for a recount and the Supreme Court stopped it.

To some election law experts, calling for the Supreme Court to intervene now seemed premature, if not rash.

A case would have to come to the court from a state in which the outcome would determine the election’s winner, Richard Hasen, a University of California, Irvine, law professor, wrote on the Election Law blog.

The difference between the candidates’ vote totals would have to be smaller than the ballots at stake in the lawsuit.

“As of this moment [though things can change] it does not appear that either condition will be met,” Hasen wrote. AP

A6

Friday, November 6, 2020 • Editor: Angel R. Calso

Opinion

BusinessMirror

www.businessmirror.com.ph

editorial

Think for yourself: You’re right

I

N 2017, on cable news station MSNBC, host Mika Brzezinski made one the most arrogant and telling statements about “The Elite” and “The People.”

She said: “He [Donald J. Trump] is trying to undermine the media and trying to make up his own facts.

And it could be that while unemployment and the economy worsens, he could have undermined the messaging so much that he can actually control exactly what people think. And that, that is our job.”

What Ms. Brzezinski said is that there is not that much difference between politicians and the press/media, and we see it all the time. Both politicians and the press/media firmly believe that they know better than the average person and must not only tell the people what they are thinking but what they should be thinking.

The fact that Ms. Brzezinski and Donald Trump are on opposite sides of almost every issue is not the point. It is that you are really not capable of thinking rationally without their “help.”

Some members of the local press are absolutely dumbfounded at how you can reach the conclusions that you do. A Social Weather Stations survey in September found that 82 percent of adult Filipinos’ quality of life worsened in the past 12 months. One local thought leader commented: “Yet 91 percent think Duterte is doing just great.”

The implication is clear. How could an overwhelming majority of Filipinos be so foolish to say that their lives got worse and that they feel the President is doing a good job? One “not-a-thought-leader” responded that the general population laughs at the attempts of critics to conflate the Covid crisis with the performance of the President. They understand the effects are beyond Duterte’s control.

The problem is that perception is reality. What we think is true is true until it can be proven false. The local press/media may give the impression that our neighbors Thailand and Vietnam are always better than the Philippines.

The Gallup 2020 Global Law and Order survey asked people the following questions: “In the city or area where you live, do you have confidence in the local police force? Do you feel safe walking alone at night in the city or area where you live? Within the last 12 months, have you had money or property stolen from you or another household member? Within the past 12 months, have you been assaulted or mugged?

The best place is Singapore with a score of 97. Southeast Asia comes No. 2 globally with a score of 81. Three of the worst countries are Mexico, South Africa, and Brazil.

The Philippines’s law and order score is 84, higher than the region’s overall score. Vietnam’s score is higher at 86, maybe because dangerous government critics on social media get sent to prison for 11 years. However, that 84 score for the Philippines is the same as for New Zealand and Australia. Our score is actually higher than the United Kingdom, South Korea, and Malaysia—all at 83. Thailand comes in at 80, and Hong Kong is way behind at 76.

In truth, a couple of points difference in the score is meaningless. But how many politicians and those in the press/media would believe that Filipinos find their country as safe as Japan?

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Better Days

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ducation has always been an important aspect of Filipino culture. How many times have we heard that a good education is the most important inheritance parents can give to their children? But now, in the Next Normal that Covid-19 has brought, education as we know it has become problematic.

As of early October, when classes started, some 3 million potential students were not enrolled. This number has probably lessened, given that the Department of Education has allowed late enrollment, as long as the prospective students can comply with 80 percent of program requirements.

To make matters more urgent, it is not only about the number of students that are not being enrolled; it is also about the challenges educators are facing to make distance and blended learning more effective.

With desktop computers, laptops, tablets, smartphones, and reliable Internet connectivity in low availability, teachers and students alike are now having a difficult time maximizing the learning experience.

Many have reported not being able to access at all their online classes.

One way to address such concerns is to utilize and upgrade our public libraries and barangay reading centers. With everything shifting towards digital and online access, our libraries and learning centers need to follow suit, if they wish to remain relevant and useful to the communities they serve.

Consider, for example, how the Department of Science and Technology already has in place the services of the Science and Technology Information Institute for science, technology, engineering, and mathematics subjects. The STII’s digitized and online resources are ready to reply to requests, and can provide online library services to public- and private-school students, teachers, and researchers. STEM materials for both teachers and students have also been made available online, with DOST-

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The DOST also has the DOSTStarbooks, or Science and Technology Academic and Research-Based Openly Operated Kiosks, which target schools in remote areas, and has various mobile apps available in conjunction with its digital library.

It is with this sort of educational support in mind that I filed Senate Bill 1879, which aims to strengthen the Philippine public library system through continuous technological updates, and the use of the latest in electronic library technology. The proposed bill amends Republic Act 7743, which provides for the establishment of libraries and barangay reading centers throughout the country. It is also an update of an earlier bill we filed (SB 827), as we acknowledge the challenges that the Coovid-19 pandemic and resulting quarantine have presented for the government’s public library system.

Under our measure, our public libraries and reading centers should be upgraded and enabled to provide free fast Internet connectivity, and ICT equipment for community use.

Our aim is to replicate throughout the country how many public library systems across the world rent out laptops or mobile WiFi hotspots to library users. Even during a pandemic, our libraries and reading centers should still help our people educate themselves.

The measure also spells out that our public libraries and reading centers can also be used for seminars, training modules, webinars, and other activities that aim to encourage and increase functional literacy, a culture of reading, and the habits of self-studying and lifelong learning. These upgrades will also make accessible local heritage and history to the youth, which will hopefully promote nationalism and socio-civic consciousness. The bill will also push for an increased budget for the National Library, which will be the lead agency in this effort, at P500 million annually until all cities and municipalities will have updated, fully functional electronic library facilities.

We know that education will be the key to preparing future Filipino generations in the Next Normal and beyond it. To that end, we must open up all possible avenues for them to learn and gain the knowledge that will benefit them. Hence, our public libraries and community reading centers should be upgraded to become even more active participants in the education of our people.

Sen. Sonny Angara has been in public service for 16 years—nine years as Representative of the Lone District of Aurora, and seven as Senator. He has authored and sponsored more than 200 laws. He is currently serving his second term in the Senate.

E-mail: sensonnyangara@yahoo.com| Facebook, Twitter & Instagram: @sonnyangara

Long-term solutions to mitigate the effects of calamities

T. Anthony C. Cabangon

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rothers and sisters, we have long been experiencing La Niña in these past weeks when strong typhoons have made landfall in our country, especially in Luzon.

Supertyphoon Rolly devastated our lands just after Typhoon Quinta damaged the areas in its path. According to the NDRRMC, 16 people perished because of the storm surges.

DPWH estimates around P58 million in damages on roads and bridges caused by the typhoons. Some houses in Batangas were smashed by strong winds, and hectares of crops in Oriental Mindoro, amounting to over P500 million, were destroyed.

Over 150,000 people needed to take shelter in evacuation centers where in some areas are not allowed due to social distancing.

Before Typhoon Quinta, a large part of Luzon was also affected by Ty-

phoons Pepito and Ofel. The damage they caused—roads blocked because of erosions, communities sunk from floods, and farmlands that looked like the sea, areas covered in mud, passengers stranded in docks, and families that spent nights in evacuation sites—were severe.

These are the stories that Filipinos tell every time a natural calamity occurs. And it seems to be difficult for our government to address the needs of everyone affected, especially during this time when Covid-19 cases continue to rise. But this must not be a reason for the delay in providing help for our fellowmen who lost their homes and livelihoods. We

must continue fixing damaged roads and bridges, and taking precautions for other incoming typhoons during this season of La Niña.

We must not rely on what we call Filipino resilience alone that we can remain positive and happy despite the suffering we and our families experience during calamities. There is no direct term for the word resilience in Filipino, but this will not define one form of disposition. Resilience, in the context of climate change, is having an appropriate plan to prepare for calamities (like typhoons) and actions to reduce the risks brought by these calamities to better care for the lives of the people, like their livelihoods, the environment, and many more.

In times of crises brought by calamities, it is heartening to see various groups providing help for our affected fellowmen. This embodies what is said in the book of Hebrews 13:16, “And do not forget to do well and to share with others, for with such sacrifices God is pleased.” But this isn’t enough for us to say we are resilient.

There is resilience when families have sturdy homes in safe and well-

placed areas. Another part of resilience is providing infrastructure that stops floods and landslides, ensuring that communities have ample supply of water, helping families have access to adequate medical services if anyone of them gets sick, and ensuring financial services for those who wish to develop their livelihoods that were destroyed by typhoons.

Resilience is rooted in addressing the suffering of society, like what Pope Francis explains in Laudato Si’, that many people suffer because they lack resources to be able to face the problems and effects brought about by calamity.

Brothers and sisters, if our government can dedicate a large amount of funding for dumping fake sand on manila Bay or to buy high-tech airplane for the President, it should be able to allot funds for long-term solutions to mitigate the effects of calamities.

Make it a habit to listen to Radio Veritas 846 Ang Radyo ng Simbahan in the AM band, or through live streaming at www.veritas846.ph, and follow its Twitter and Instagram accounts @veritasph, and YouTube at veritas846.ph. For your comments, e-mail veritas846pr@gmail.com.

Opinion

BusinessMirror

www.businessmirror.com.ph

Friday, November 6, 2020

A7

Switching to natural gas: At the path of Typhoon Signal No. 5 Evidence from Philippine manufacturing firms Tito Genova Valiente Majah-Leah V. Ravago, Raul V. Fabella, Karl Robert L. Jandoc, Renzi G. Frias and J. Kathleen P. Magadia

EAGLE WATCH Conclusion

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ast week, we discussed the situations and conditions that could lead to switching from current energy source to alternatives. We concluded that energy-intensive manufacturing firms with more expensive fuel sources are more likely to switch. We continue the discussion by further looking into specific characteristics that could make firms switch to natural gas.

Compatibility of machines and equipment emerged as the top consideration for economic zone firms to switch to natural gas. Naturally, firms take into account the upfront capital cost of switching including the stranding cost of replaced equipment. This gives us an indicator that the use of natural gas is more feasible among firms that operate boilers and other heating equipment in their production process. Firms that mainly depend on electricity for their operations are unlikely to shift to natural gas. Safety and security tallied second.

Other top considerations are price, supply stability and reliability, and environmental concerns for firms who show willingness to switch to natural gas. Price offered to the end-user would be influenced by several factors including the LNG virtual pipeline delivery system; the capital and operating expenditures of satellite or the small-scale LNG storage and regasification terminals to be located inside the SEZs; among others.

We also considered the likelihood of moving to natural gas by location of the Special Economic Zones.

Ranking according to probability of switching by city or municipality, SEZs in Bauan, Batangas are very highly likely to consider natural gas as fuel followed by highly-likely-toswitch in Malvar and Lipa, Batangas.

Pasay; Balamban, Cebu; Carmona, Cavite; and Mabalacat, Pampanga SEZs are also highly likely to switch to natural gas. SEZs in Angeles, Pampanga, and San Rafael, Bulacan on average, consider natural gas as a feasible fuel but at a low likelihood.

Taking the role as a bridge fuel, natural gas can help facilitate the efficient transition to cleaner energy.

Pollutants from dirtier fossil fuels not only harm the environment but also cause serious respiratory health problems. The estimated monetary cost of all damages emanating from local pollutants can be substantial, insofar as these induce respiratory problems including coughing, wheezing, etc. (Jandoc et al., 2018). There are several ways in which natural gas reduces damages: First, if the firm uses diesel in the production process and switches to natural gas, there is a reduction in harm. Second, if natural gas can be used as fuel in generating electricity inside the SEZs, damage cost associated with the use of diesel, oil, and coal in generating electricity could potentially be avoided.

Switching to electricity generation

From a policy point of view, the results of our study suggest a potential growing market for LNG in the Philippines in addition to the requirement to fill the need due to the depletion of Malampaya gas field. The LNG industry is responding to these market signals, but its development should be nurtured by appropriate regulation and marketcreating activities such as investment coordination. using natural gas is possible, especially if the natural gas power plant is located inside the SEZ and is able to offer a lower rate than their current electricity distribution utility outside of the SEZs. Policy implication. The study revealed that the potential use of LNG is greatest among firms that require intense heat for their production such as boilers, which is generated by burning less environmentally friendly fuels (e.g. diesel or coal) other than natural gas. We confirm that switching is least likely among firms whose power needs are supplied by electric utilities.

While the study covers only manufacturing and agro-industrial firms in ecozones, the results provides an indication that markets for natural gas outside of electricity generation exist. It also provides a gauge of the minimum size of the market and illustrates a greater market potential given the number of manufacturing and agro-industrial firms outside of ecozones. Our survey and methodology offer potential to scale the size of data collection to include other firms outside the special economic zones.

From a policy point of view, the results of our study suggest a potential growing market for LNG in the Philippines in addition to the requirement to fill the need due to the depletion of Malampaya gas field. The LNG industry is responding to these market signals, but its development should be nurtured by appropriate regulation and marketcreating activities such as investment coordination. There will also be a need for more intense information drive on the minutiae of switching if and when natural gas becomes available.

Ravago from Department of Economics, Ateneo de Manila University; Fabella and Jandoc from School of Economics, University of the Philippines; Frias from School of Statistics, University of the Philippines; and Magadia from Gas Policy Development Project.

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olatility seems to color my own generational experience because, aside from trying with all my might to survive the pandemic every day, I also live in a region that is at the path of many typhoons. And last Sunday, the first of November, a typhoon took that path.

Bikolanos are supposed to be used to typhoons. Norman Owen, in his book, Prosperity Without Progress, mentions a saying attributed to “one native of Albay.” The quote says: “The land is so good, the people kind, the Almighty had to invent the typhoon to even things up.” We recognize that declaration of praise; it is a description that pushes with utmost cruelty that silly characteristic we ascribe to Filipinos—resilience.

But the statement further mines in our culture a fatalism, the gratitude to a god who cannot be content to find a good land in a good Earth. It is a divinity that punishes us for our happiness and contentment.

That Almighty, for the first time in Bikol, came up with a wind reaching gustiness of 300-plus kph. It was called a super typhoon, with a modifier so flippant it is used for anything or anyone with an exaggerated might. It was also a cyclone that merited a Signal No. 5 upon its landfall.

Bikolanos who are used to storms never had any experience of one that had no comparison. In every Biko-

lano, there is always a typhoon that marks an important event in their lives. For my generation, it was Typhoon Sening in October of 1970.

We were living then on the second floor of an old house. The lower floor was partitioned to accommodate two more families. With empty lots around us, the wall of the house was aspirating with the wind that kept on blowing stronger each time.

My father, an accountant who had carpentry skills, could not bear it any longer. He was afraid the whole second floor would be blown away, and with it, all of us. He started banging on the wall at the stairwell to caution the family on the ground floor that we would be “bothering” them. The wind was at its peak and there was no way for us to use the main door to transfer to the lower part of the house.

Up to this day, I do not remember how that family responded when somebody started to open the wall to their living room with a saw. By the time, a huge gaping hole was formed, we were being hoisted one by one into the home of another family.

Bloomberg Opinion

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or the second time in a row, polling has failed to correctly assess the mood of the nation heading into a US presidential election. The debacle will inevitably engender recriminations, soulsearching and efforts to do a better job next time around.

I’m beginning to think that we’d be better off if we kicked the habit.

For many Americans, following polls has become a sort of addiction.

We nervously refresh polling sites, hoping to get a sense of the range of possible outcomes, what our compatriots are thinking, so we can worry, act or abdicate accordingly. This might be fine and even useful if the polls were at all reliable. Unfortunately, I don’t think they can be. They will all too often lead us to operate on a deeply flawed set of expectations.

My skepticism stems in part from my experience of the 2008 credit crisis. I worked in finance, where— much like pollsters—we used statistical models to assess the range of

in those sites in November of 2020.

Are we forgetful people?

Memories of disaster are important way of responding and coping with calamities. Nature is not vindictive; Nature follows a pattern.

It is thus important to know which areas get flooded or where would surges rise and cover the land. For the lahar experts, they talk of paths that can be seen as “guiding” mudflows. Caution is therefore needed when the wind and the rains come again because the same event of stones and thick soil thundering down the slopes of a mountain becomes an accident waiting to happen again.

E-mail: titovaliente@yahoo.com

Carlos P. Garcia: The architect of economic nationalism Manny F. Dooc

TELLTALES

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scanned the papers the other day but there was no mention at all about the 124th birthday anniversary of the 4th President of the Republic of the Philippines, Carlos P. Garcia. Garcia was born on November 4, 1896 in Talibon, Bohol. He was a poet, teacher, orator, and guerilla leader during the war. He started his law studies in Silliman University but he transferred to the Philippine Law School where he earned his law degree.

He topped the bar examination in 1923 but instead of practicing law right away, he taught as a public school teacher at Bohol Provincial High School for a couple of years. After a brief practice of law, he entered politics. He never lost an election except when he ran for a second term as President of the Philippines in 1961 against Diosdado Macapagal. He even won as a delegate of his province to the 1971 Constitutional Convention and was elected as its first president, defeating another former president of the Philippines, Diosdado Macapagal, for the position. But he died shortly thereafter and Macapagal eventually succeeded him as the president of the said body.

Garcia was elected for 3 terms as a Congressman representing the 3rd District of Bohol. He ran as Governor of his province and served for 3 terms. Before the outbreak of the 2nd World War, Garcia was elected

as a Senator in 1941 and served in that body with distinction for 13 years. As a member of the opposition, he was an effective fiscalizer of the ruling Liberal Party under President Manuel A. Roxas and President Elpidio Quirino. He even served as the Minority Leader of the Senate from 1946 to 1951. He refused to collaborate with the Japanese government and instead organized a guerilla unit, which operated in his province. In 1952, Garcia was tapped as the running mate of Ramon Magsaysay who ran for president. After their victory, Garcia concurrently served in Magsaysay’s cabinet as the Secretary of Foreign Affairs. It was a well-earned appointment since he was recognized as a foreign policy expert for the government. As the Secretary of Foreign Affairs, he successfully negotiated the reparations agreement between the Philippines and Japan which opened up a new

Polling failed. It’s time to kick the addiction

By Cathy O’Neil

For the communities in Albay, Typhoon Reming in November of 2006 was a marker of tragedy. The mud deposits on the sides of Mayon Volcano were washed off by strong rain and wind. Late at night, the people who survived that catastrophe spoke of roaring sound. They thought it was thunder. They were wrong. Raging down the homes of several barangays were the black flood and lahar and, with it, the huge stones, crushing anything that was standing in their way, burying houses and people.

Did the people of that town forget the dark event? Around the same area, Supertyphoon Rolly caused the lahar to flow again and flood the communities and kill the people

possible outcomes, in this case for mortgages and related investments.

I witnessed the devastation that ensued when those models proved horribly wrong, and I initially believed that better modeling could help. It took me quite a while, and lots of calls with banks and hedge funds, to realize that doubling down on math wouldn’t solve the problem. The issue was bad data: People throughout the system, from borrowers to bank executives, just had too much incentive to lie and dissemble.

Doubling down on models hasn’t

helped in other areas, either. Consider the way artificial intelligence helps spread misinformation and radicalize Americans on Facebook and other social networks. Time and again, executives have sought to fix the problem with more artificial intelligence, and failed. It’s not going to work. The issue is people, not technology.

Fast forward to the 2020 presidential election. The post-mortem of the polling failure has already begun.

Experts want to double down — go deeper, more granular, understand how Latinx communities diverge and

era in the relations between the two countries. This is not to mention the significant contributions that the reparation payment made to our economy. The posh real-estate properties in Tokyo (Roppongi property), Nempeidai and Kobe are part of these reparation payments. He also served as Chairman of the 8-nation Southeast Asian Security Conference held in September 1954 in Manila, which created the Southeast Asia Treaty Organization (SEATO). He was the architect behind the improvement of the Philippine-American relations and closer ties with our Southeast Asian neighbors. When Magsaysay died in a plane crash in 1957, Garcia assumed the presidency. He won the presidency in his own right in the 1957 elections beating formidable opponents such as Claro M. Recto, Jose P. Yulo, and Manuel Manahan, but his running mate, Jose “Pepito” Laurel, lost to Diosdado Macapagal.

He adopted the Filipino First Policy, the centerpiece of his administration, which was designed to ensure Philippine economic independence and sovereignty. In a speech on March 3, 1960, he pledged to remove “the yoke of alien domination, particularly Americans, in business, trade, commerce and industry.” He stressed the need for total economic freedom and declared that the government would no longer tolerate the dominance of foreign interest in our economy. Garcia also introduced an austerity program in government to help do away with graft and corruption and eliminate wanton waste of government resources.

Garcia’s strong pro-Filipino

stance in business and trade was looked upon with disfavor by the American businesses. This partly led to his defeat when he ran for reelection in 1961. Unlike his predecessors, Manuel A. Roxas and Ramon Magsaysay, Garcia did not enjoy the backing of the Americans. When he won a second term, it was largely due to his political machinery and the support of local businessmen who benefited from his program of economic nationalism.

Garcia, likewise, did not enjoy Magsaysay’s magic since another rival candidate, Manuel Manahan, who formed a political party together with the other bright boys of the well-loved deceased president, claimed Magsaysay’s legacy. He was not also an anointed candidate of any religious group who at that time had started to exert influence in our political life. Relatively, Garcia was his own man and was not beholden to anyone, particularly the foreigners. In no uncertain terms, he told his audience at a dinner at the Manila Overseas Press Club that “the ugly truth but incontrovertible fact about our economy today is its dominance by aliens. This situation is unique for there is perhaps no other independent country in the world where alien control of economic life is as wide and pervasive as in ours. Reduced to stark realities, such a condition makes a mockery of our independence and robs it of substance and meaning.” Such prophetic and brave words from a former president whose birth anniversary is not even remembered by his fellow Filipinos.

so on. Let’s just do it more and better!

No, let’s not. It’s no longer reasonable to assume that we can get better.

For all the effort that a lot of smart people have put into it, polling is just hard. There’s too much problematic, biased and missing data. People who don’t trust the polls don’t talk to pollsters. Sometimes they flat out lie.

Let’s detox instead. Our national obsession with knowing what other people think is getting in the way of understanding what we think — or whether we should bother to vote, or how we should go about working for

change. Sure, campaigns and policy makers need to know these things.

But the extent to which the rest of us have become versed in how other slivers of population plan to vote (or don’t, depending on whether they’re lying) is a sign of toxicity, a desperate attempt at gaining control and minimizing uncertainty in a situation that is inherently uncertain and uncontrolled.

Step one of recovering from an addiction is to admit you have a problem. After last night, I think we can reasonably say we do.

A8 Friday, November 6, 2020

Banks lost ₧60.6M to cybercrime in initial quarantines–BSP report

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By Bianca Cuaresma

@BcuaresmaBM

YBERCRIME affecting banks and financial institutions in the country peaked during the first wave of enhanced community quarantine in March to May, leading to millions of pesos in losses during the period.

“The disruption caused by the lockdown offered cybercriminals a unique opportunity to exploit the vulnerabilities in systems, networks,

and applications used in remote working arrangements,” the Central Bank said in a report on the status of the Philippine banking system.

The BSP said based on the Reports on Crimes and Losses filed by banks during the ECQ covering the period March 15 to May 18, 2020, 98.4 percent of all criminal incidents reported were classified as cyber or online in nature.

This resulted in losses amounting to P60.6 million or 54.5 percent of all total bank losses during the two-month period. Broken down, 80.5 percent of all cyber incidents reported were credit card and Internet banking-related, accounting for 79 percent of total losses.

The BSP said the majority of these threats were in the form of phishing e-mails and malicious web sites, some even disguised as Covid-19 campaigns.

Data showed that threats on malicious web sites peaked at the onset of the ECQ period in March, mimicking global trends, while phishing e-mails peaked in April.

However, the BSP said this does not mean that digital transactions will be discouraged especially during the pandemic.

“With continued limitations on mobility and need for social distancing to prevent the spread of the Covid-19 virus, encouraging the use of digital payments remains necessary. Concomitant to this is the need to further strengthen [banks’] operational resilience in order to ensure their capability to continually service the needs of their financial consumers even in

adverse situations,” the BSP said.

The BSP also vowed to strengthen its digital financial supervision by enhancing its regulatory framework, adopting supervisory technology and implementing capacitybuilding measures.

The BSP said it is transitioning towards the use of the Supervisory Assessment Framework which facilitates risk-focused and calibrated supervision according to a BSP supervised financial institution’s (BSFI) business model and relative importance to the financial system.

Also in the pipeline are issuances on digital banking, cloud computing, virtual asset service provider and the cybersecurity maturity model.

80K FARMERS IN 6 REGIONS INCUR P5.5B IN COMBINED LOSS FROM QUINTA, ROLLY

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LMOST 80,000 farmers in six regions incurred losses amounting to P5.5 billion from the combined damage caused

by Typhoon Quinta and and Supertyphoon Rolly to the agriculture sector in recent weeks.

The Department of Agriculture (DA) said Quinta and Rolly

affected 154,251 hectares of agricultural areas with an estimated production volume loss of 272,240 metric tons (MT), based on its latest assessment report as of 6 p.m. of November 4.

“The affected commodities include rice, corn, abaca, high value crops, fisheries, livestock, irriga-

tion and agri-facilities. All the reported damage and losses values are still subject to validation,” it said.

For Rolly alone, the total damage and losses have now reached P2.94 billion, affecting 31,496 farmers and 65,999 hectares of land, according to the DA. “Volume of production loss is at

125,664 metric tons. The affected commodities include rice, corn, abaca, high value crops [assorted vegetables, cassava, banana and other fruit trees], livestock and agri-facilities in Central Luzon, Calabarzon, Mimaropa, Bicol Region and Eastern Visayas,” it added.

The DA said the damage to the agriculture sector by Quinta remained at P2.56 billion.

“The damaged palay production areas from both TY ‘Quinta’ and STY ‘Rolly’ is at 95,300 ha wherein 79.44 percent [75,708 ha] of these areas were planted this 2020 wet season cropping, while the remaining 20.56 percent [19,592 ha] were planted for the 2020-2021 dry season cropping,” it said.

“The remaining rice areas to be harvested in affected regions is 767,365 ha or 37.02 percent of the wet season planted areas,” it added.

Damage to the abaca sector due to Rolly has now reached P1 billion with 39,790 hectares of area being affected with a pro-

duction volume loss of 12,918 MT, according to the DA. The BusinessMirror earlier reported that abaca farmers already reeling from Covid-induced market problems must now grapple with more losses after Supertyphoon Rolly battered Catanduanes, the country’s top producer of the prized crop for export.

Philippine Fiber Industry Development Authority (PhilFida) estimated that the damage caused by Rolly to Catanduanes would cause a steeper decline in the total abaca output this year. Catanduanes accounts for 30 percent of annual abaca output.

PhilFida Executive Director Kennedy T. Costales told the Business­Mirror that he expects total abaca output this year to decline by 30 percent to a 20-year low of 50,000 MT. (Related story: https://businessmirror. com.ph/2020/11/03/rolly-hitsabaca-hard-20-year-declineseen/) Jasper Emmanuel Y. Arcalas

DA blanket ban on co-op rice importers risks challenge

By Jasper Emmanuel Y. Arcalas

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@jearcalas

HE Department of Agriculture (DA) could be leaving itself open to legal challenges with its ban on farmer-cooperatives and irrigators’ associations from importing rice as such may violate existing laws, the Federation of Free Farmers (FFF) said Thursday.

Nonetheless, Monetary Board Member V. Bruce J. Tolentino said the suspension would not have a “significant” impact on the country’s rice supply as local production just finished its peak harvest while legitimate importers are eligible to import the staple.

In a statement on Thursday, FFF said the blanket ban on farmers’ cooperatives and associations (FCAs) is discriminatory since not all cooperative-importers have fallen dummies to unscrupulous traders.

“While we discourage farmercooperatives from importing, we also respect the right of legitimate groups to import for their own business and other needs. Neither is it fair to penalize all FCAs for the mistakes of just a few groups,” the FFF said.

“Otherwise, to be consistent, the DA must also ban all imports by private companies in the event it is proven that some private entities were also used as dummies or found violating import rules,” it added.

The group pointed out that the blanket ban may be in violation of certain provisions of the Rice Trade Liberalization (RTL) law, as it has allowed virtually anybody to import rice following the removal of import licensing requirements.

“The suspension of import privileges of FCAs is subject to legal challenge by coops and farmer groups.

A case can be filed against Secretary Dar in the Ombudsman for not following the law and unfairly infringing on the rights of certain groups,” FFF said.

Continued on A4

PHL shuts out Dutch poultry over bird flu cases

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HE Philippines has temporarily closed its borders for Dutch poultry products over concerns of bird flu outbreaks in the Netherlands, dealing another blow to local meat processors as they lose a huge supplier of mechanically deboned meat (MDM) of chicken.

Agriculture Secretary William D. Dar told the BusinessMirror that he signed on Thursday a memorandum order (MO) that slaps a temporary ban on the importation of domestic, wild birds, and their products including poultry meat, from the Netherlands.

As early as October 30, the Bureau of Animal Industry (BAI) had recommended certain actions the Department of Agriculture (DA) could take following the reported bird flu outbreak in two mute swans in the Netherlands, a high-ranking official told the BusinessMirror.

However, on October 30, the Netherlands confirmed a second bird flu outbreak affecting 35,750 broiler parent stock in Altforst, Gelderland, one week after it reported the mute swan incident in Kockengen, Utrecht to the World Organisation for Animal Health (OIE).

Both outbreaks were confirmed to be caused by highly pathogenic avian inf luenza (HPAI) H5N8, based on the Netherlands’ reports to the OIE. The second bird flu outbreak was the basis of the import ban by the DA, based on a document obtained by the BusinessMirror.

T he Ph i l i p p i ne s i mp o s e s temporary import bans on countries that have confirmed bird flu outbreaks to protect the local industry from animal diseases such as bird flu.

With the temporary ban, the BAI has suspended the issuance of sanitary and phytosanitary (SPS) import clearance for Dutch poultry products.

Major loss of supply

The loss of Dutch poultry supplies is a major blow to the local meat processors as the Netherlands accounts for about 40 percent of their annual volume of imported chicken MDM, a raw material used to produce hot dogs and siomai, among others.

Latest BAI data showed that the Philippines’s chicken MDM imports from January to September reached 208,208.645 MT, with 42 percent —or about 86,943.415 MT—coming from the Netherlands.

Meat processing industry sources said the loss of the Netherlands supply worsens their current situation as they scramble for new sources of chicken MDM, as Brazil continues to refuse to ship to the Philippines despite the partial lifting of the ban on the Brazilian chicken MDM. Brazil is the country’s second-largest chicken MDM supplier.

Worse, chicken MDM prices in Poland, which was recently allowed to export again to the Philippines, have already equaled or are even higher than the European Union’s

current price, a source said.

Given the current situation, the meat processing industry is left with no viable chicken MDM supplier as prices in European Union —of $800 per metric ton (MT)—are closing out US and Canadian prices of about $900 per MT, another source said.

A highly knowledgeable industry source, who has been following the recent trade developments, said the only way to salvage the industry’s supply pool is if Brazil resumes its exports of chicken MDM to the Philippines.

And that would only happen, the source pointed out, if the Philippines fully lifts the temporary import ban slapped on Brazilian poultry products.

The Philippines has already allowed the entry of Brazilian chicken MDM but Brazil’s government is not allowing the export of the product unless Manila lifts the remaining ban on other poultry products.

Manila’s borders have been closed for almost three months now for Brazilian poultry products due to Covid-19 concerns in their shipments and meat-packing plants. (Related Story: https://businessmirror. com.ph/2020/10/26/da-firm-onpoultry-ban-as-brazil-goes-towto/) “Brazil refused to sell to, they really refused to sell despite attempts to buy from them since the ban on MDM was lifted,” the source told the BusinessMirror.

Jasper Emmanuel Y. Arcalas

www.businessmirror.com.ph

Companies BusinessMirror

Friday, November 6, 2020

B1

Surge in demand for data boosts PLDT core profit

By Lenie Lectura

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@llectura

LDT Inc. said it is expecting higher core profit this year versus last year’s P27.1 billion as growth in its wireless, enterprise and broadband services continues to surge.

It reported Thursday that core profit for the nine months of the year reached P21 billion, up 8 percent from the same period a year ago.

Of which, P7.1 billion was recorded in the third quarter.

Reported net income in the same period grew by 23 percent to P19.7 billion. Of the amount, July to September numbers stood at P7.4 billion.

“As we enter the fourth quarter of what has been an extraordinary year, we are fortunate to be where we are. With service revenues at an alltime high, we are poised to surpass last year’s core income,” said PLDT

Chairman Manuel V. Pangilinan.

The phone giant recorded an all-time high service revenues of P126.6 billion for the nine months of 2020, up 9 percent in the same period last year.

Data and broadband accounted for 72 percent, or P90.8 billion, of total service revenues.

It was an all-time high across the different business segments, both for the quarter and nine-month period. PLDT’s consumer wireless generated P60.8 billion revenues during the period, up 15 percent over the same period last year. Enterprise booked revenues of P30.9

billion, a 6-percent increase. Home generated P30.3 billion in revenues, a 10-percent increase from the same period last year.

“We have seen our Service Revenues grow consistently quarteron-quarter since 2018. If not for the negative impact of the lockdown in the second quarter of this year, we would have had 11 quarters of consecutive growth—no small feat and a testament to the hard work and dedication of the whole group,” said PLDT Chief Revenue Officer Alfredo Panlilio.

Pangilinan is optimistic that PLDT’s strong performance will continue next year even as competition is seen to intensify with the March launch of the country’s third major telco, Dito Telecommunity.

“We are forecasting better numbers for 2021. There are several caveats we impose upon ourselves. Dito will launch probably in March next year. Converge just finished its IPO so they will be in a better position to compete next year. Globe would probably be more competitive next

year. So, we expect competition to be intense. Generally speaking, we are slightly more optimistic in terms of 2021 prospects,” said Pangilinan.

Capital expenditures (capex) during the nine months reached P43 billion. PLDT is expected to spend at least P27 billion more to end the year with over P70-billion capex spending.

“This implies P27-P30 billion spending in the last quarter to support our IT network and Home broadband business,” said company chief financial officer Anabelle Chua.

PLDT is ramping up broadband installation capability as demand continues to rise. Chua said PLDT Home broadband installation would spike to at least 100,000 a month.

The work and at-home schooling would drive PLDT to expand its wireless and broadband coverage. It bared plans of adding 500,000 fiber ports and 2,000 more cell sites. It will also increase its backbone network capacity by another 37 terabits per second.

SMC 9-month income hits ₧10.7B

By VG Cabuag @villygc

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an Miguel Corp. (SMC) on Thursday said its income in January to September reached P10.74 billion, or just a quarter of last year’s P39.65 billion, as the gains made by its other units in the third quarter were offset by Petron Corp.’s losses.

In the third quarter alone, the conglomerate recorded an income of P15 billion, wiping out the P4billion loss it reported in the first half.

Net sales of the country’s largest corporation reached P531.13 billion for the three quarters, down from last year’s P758.63 billion.

Petron reported a P12.6 billion in net loss in January to September, from an income last year of

LBC Express earnings surge in Q3

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ourier LBC Express Holdings said the surge in its earnings in the third quarter allowed the company to reduce its losses in the January-toSeptember period to P56.77 million.

The company recorded an income of P397.21 million in January to September last year.

The company said its service revenues fell 16 percent to P9.63 billion from last year's P11.48 billion due to the fall in demand caused by the lockdown. “The group had selected branches opened and delivery remained operational, but the lead times are extended due to security and travel restrictions,” the company said in its report.

LBC has recovered most of its losses in the third quarter after it posted a P442.38 million in income, 37 percent higher than last year's P321.06 million.

In the first half of the year, it reported a loss of P499.14 million from last year’s income of P71.25 million.

Service revenues for the third quarter were up 6 percent to P3.98 billion from last year's P3.76 billion, due to the net increase in revenue from logistics segment, on higher retail sales by 33 percent, the company said.

For the nine-month period, the company said its operating expenses grew 2 percent due to Covid-19 related expenses including medical and sanitation supplies, testing kits, medical professional fees, shuttle bus rentals and donation of face masks. Cost of services was reduced by 13 percent to P7.34 billion for the nine months P8.43 billion last year due to lower volume of acceptance in the second quarter caused by the pandemic. VG Cabuag

P3.62 billion.

For the third quarter alone, Petron had a consolidated net income of P1.63 billion, mainly due to stabilizing world crude prices and government’s easing of the quarantine restrictions, the company said.

Consolidated retail volumes registered a 49-percent increase in the third quarter.

Domestic volumes have started to recover, with most Petron stations in the country operating under normal hours since August, the company said.

“The country has proven its adaptability and resilience in these trying times, and we, in San Miguel Corp., will continue to deliver on our commitment to help the country build back better and stronger as we emerge from this pandemic,” company President and COO Ra-

mon S. Ang said.

San Miguel Food and Beverage Inc.’s net income fell 37 percent to P14.36 billion from last year's P22.92 billion as revenues fell 14 percent to P194.56 billion from last year's P226.36 billion.

SMC Global Power Holdings Corp. posted off-take volumes of 19,825 gigawatt hours, 8 percent lower from last year. Consolidated revenues amounted to P87.86 billion, 16 percent lower than last year's P105.14 billion.

Net income grew 27 percent to P14.48 billion from last year's P11.38 billion.

SMC Global Power’s Masinloc Unit 3 with a 335-megawatt capacity commenced operation last September 26, bringing the company's total capacity to 4,697 MW. SMC Infrastructure’s operat-

ing toll roads saw traffic volume improvements during the third quarter, compared to the first half, but overall, year-to-date traffic volumes as of September were still down by 37 percent.

Consolidated revenues amounted to P10.27 billion, 42 percent lower than last year's P17.79 billion, while operating income stood at P2.14 billion, 76 percent lower than the previous year's P8.96 billion.

SMC Infrastructure said it continued to deliver on major commitments, completing the entire structure of the Skyway Stage 3 project, which now connects the South Luzon Expressway to the North Luzon Expressway.

The company has set Skyway’s soft opening for December, with toll fees waived for an entire month.

PH Resorts share price plunges

P

H Resorts Group Holdings Inc.’s shares fell 33 percent on Thursday as investors decided to sell after its trading suspension was lifted for the company’s follow-on offering.

Shares of the gambling arm of Davao businessman Dennis Uy was the most traded stock for the day but it plunged 33 percent, or P1.09, to close at P2.19 per share. Its shares were suspended for trading since October due to its follow-on offering.

At the said rate, it is still higher than its followon offer price of P1.68 per share.

“It’s instant earnings for those who availed [of its follow-on offering],” Luis Limlingan, managing director of Regina Capital Development Corp., said.

“Investors may have some doubts regarding the success of its Emerald Bay integrated tourism resort in Mactan, Cebu, expected to have a soft opening in the fourth quarter of next year, due to pandemic concerns,” Christopher Mangun, research head at AAA Securities Inc., said.

PH Resorts’ follow-on offer is composed of 300 million in common shares and an over-allotment option of up to 150 million common shares, with a par value of P1 per share.

At P1.68 apiece, the company is raising some P756 million in fresh cash from the sale of shares.

“I am pleased that the PSE was able to support the company in its capital raising requirement.

Bulk of the funds will be utilized by the company for the construction of Emerald Bay, which is a much-awaited integrated resort and casino development expected to have its soft opening by end of next year,” PSE President and CEO Ramon S. Monzon said.

“This massive project has generated and

PH Resorts Group Holdings Inc. (PHR) concluded its follow-on offering with a listing ceremony at the Philippine Stock Exchange (PSE) on Thursday. Photo shows from left, by row: PHR Director Cherylyn C. Uy and PAGCOR President and COO Alfredo C. Lim; PHR President and CEO Raymundo Martin M. Escalona, PHR Chairman Dennis A. Uy, PAGCOR Chairman and CEO Andrea D. Domingo, PSE President and CEO Ramon S. Monzon and PSE COO Roel A. Refran; PHR CFO Lara C. Lorenzana, PHR COO Jose Angel Sueiro; PSE Issuer Regulation Division OIC Marigel B. Garcia and Unicapital Group of Companies President and CEO Jaime J. Martirez. Contributed Photo will continue to generate much-needed jobs for Filipinos and will help boost tourism in Cebu and stimulate the province’s economy after this pandemic,” he said.

PH Resorts fall in price runs counter to the general increase in total market trade as the benchmark Philippine Stock Exchange index (PSEi) gained 180.72 points to close at 6,644.77 points Total value of trade for the day was high at P10.17 billion, mostly on PH Resorts trade.

Gainers led losers 128 to 73 and 53 shares were unchanged.

“The PSEi surged 2.8 percent following the extended rally of the US markets overnight while investors accumulate shares amid recovery hopes.

There is optimism at home, investors are looking into the economic recovery along with the

anticipated earnings growth of the companies in the coming year," Claire Alviar of Philstocks Financial Inc. said.

“Earnings remained dim but some companies showed a recovery in the third quarter which spurs positive sentiment and is expected to continue amid relaxed quarantine restrictions.”

PH Resorts was previously known as Philippine H2O Ventures Inc., the water unit of businessman Jolly L. Ting.

In 2018, Uy bought shares in the company which allowed him to do a backdoor listing of its gambling unit. PH Resorts then became a unit of Udenna Development Corp., Uy's holding firm.

According to PSE rules, a backdoor listed company must conduct a follow-on offering after the unlisted firm takes over the listed firm. VG Cabuag

Globe aiming to connect remote areas to Internet

G

lobe Telecom Inc. is targeting to fast-track the construction of more cell sites to connect remote and mountain barangays in selected towns in Iloilo, Leyte, Palawan, Aklan, Maguindanao, Cotabato, Misamis Oriental, and Davao de Oro in the next few months.

Benjamin Garcia, President and Division Head of Business Operations, Strategy and Support of Globe Telecom said the company recently answered the calls for connectivity of mountain barangays in Liloan, Cebu.

Speaking during an online webinar dubbed “Livable Cities Lab on Basic Infrastructure for Better Livability” on Wednesday, Garcia said their build plans cover areas as far as Victoria City and Sta. Barbara, Barotac Nuevo and Alinog in Iloilo; Mabatnon in Leyte; Brookespoint in Palawan; Kalibo, Aklan; Pikit, Cotabato; Tagoloan, Misamis Oriental, Monkyo, Davao de Oro; and at least two other towns in Maguindanao.

Garcia underscored the importance of communication and connectivity as vital to any city’s progress.

“Adapting to the latest technology can bring life-enriching solutions,” he said.

According to Garcia, through the years, the country experienced the shift from one technology to another.

“From personal correspondences done through rotary landline or even a telegraph, communication is now better. While mass communication has not changed significantly as it is still done through TV, radio and print, today, everything is now possible through the internet through either the web or via apps,” he said.

“Today, we are connected more than ever. Access to information has never been as easy as tapping our screens.”

According to Garcia, part of every community’s progress is being able to access the latest technology especially when these solutions are meant to enrich lives through ease and relevance.

“We want to simplify technology to bring customers to what matters most,” he said.

Garcia highlighted the constant upgrading of Globe, from the introduction of SMS or short messaging system in 1994, to improving data

connectivity through 3G in 2005, and now 4G. “We have since significant improvement to our network. From 4Mbps download speed in 2016 now 25.34 Mbps on fixed broadband and 15.44 Mbps on mobile,” he said.

“Given the significant investment in more efficient networks, we are now able to provide more value for money plans. Offer from 23 per gigabyte in 2017 to only P10 per gigabyte.”

He noted that data connectivity is important to every Filipino. He said an average Filipino now spends 9 hours 45 minutes online every day, making better telecommunication infrastructure imperative.

“Globe’s networks rollout and expansion efforts seeks to cover more ground and connect more Filipinos,” he said.

Currently, he said capital expenditures to revenue ratio alone at 32.4 percent shows how Globe is ramping up cell site builds and fiber to homes to service about 76 million Filipinos.

Currently, he said Globe is gearing up for its largest national network transformation anchored on a three-pronged strategy namely: acceleration of cell cite builds to expand coverage and increase data capacity; upgrading all cell sites to have 4G/ LTE; and optimizing its frequency to provide better coverage and speed.

“With 4G everywhere, the country will be-data ready and capable of meeting customers’ increasing demand for bandwidth and faster speed,” he said.

He also said Globe is fast-tracking the “fiberization” of Filipino homes to improve data experience using wireless connectivity, the majority of which is to be completed by 2021.

“We look forward to a robust digital economy backed by reliable and resilient connectivity,” he said.

“The recently signed joint moratorium circular on streamlining of permit is a big win for the industry.

It is one of the major changes we need to give more Filipinos better connectivity. Our partnerships with the LGUs [local government units] have also been advantageous with the same objectivity of providing connectivity to their constituents, we started working with supportive LGUs to bring better coverage in the in their area,” he added. Jonathan L. Mayuga

B2

Companies BusinessMirror

Friday, November 6, 2020

PSE STOCK QUOTATIONS

November 5, 2020

Net Foreign Bid Ask Open High Low Close Volume Value Trade (Peso) Stocks Buy (Sell) FINANCIALs

ASIA UNITED BDO UNIBANK BANK PH ISLANDS CHINABANK EAST WEST BANK METROBANK PHIL NATL BANK PSBANK PHILTRUST RCBC SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL FIRST ABACUS FERRONOUX HLDG IREMIT MEDCO HLDG PHIL STOCK EXCH SUN LIFE

44.4 91.6 75.95 23 9.86 42.75 28.3 51.6 96.05 17.06 100.4 57.2 0.78 27.6 0.59 3.44 1.12 0.3 161 1890

45.2 91.65 76 23.1 9.87 42.8 28.35 54.95 101.3 17.16 100.5 57.5 0.8 28 0.6 3.6 1.16 0.31 165 1950

44.4 90.95 76 23 9.86 42.85 27.75 51.6 96.05 17.16 100.1 57.5 0.8 28 0.59 3.45 1.12 0.3 163 1950

44.4 93.25 79.5 23.5 10.1 43.5 28.4 52 96.05 17.2 104.2 58.5 0.85 28 0.6 3.6 1.14 0.31 165 1950

44.4 90.6 75.8 23 9.86 42.5 27.5 51.6 96.05 17.14 100.1 57.5 0.8 27.6 0.59 3.4 1.1 0.295 163 1950

44.4 92.85 79 23.25 10.1 42.8 27.8 52 96.05 17.16 102.2 58.5 0.8 27.7 0.6 3.6 1.11 0.3 164 1950

100 5094070 3601600 664500 1008000 7450300 227300 740 20 132900 1273820 24400 130000 18600 39000 142000 220000 790000 3950 5

4440 471313015 282230339 15336150 10066364 320917845 6354970 38310 1921 2280078 130074603 1414413 105500 517070 23350 491930 245450 237850 650710 9750

-172003350 179619775 -1129250 -438443 -102579420 -1321480 -562848 -18478313 23240 8300 -9750

INDUSTRIAL AC ENERGY 3.87 3.88 3.87 3.89 3.75 3.78 15490000 58895780 1.34 1.35 1.35 1.35 1.33 1.33 2740000 3665910 ALSONS CONS ABOITIZ POWER 27.1 27.2 27 27.5 27 27.15 1691600 46042105 BASIC ENERGY 0.217 0.219 0.218 0.232 0.213 0.23 6980000 1564650 29.3 29.35 29.35 29.8 29 29.35 1466600 43205865 FIRST GEN 64 64.3 64 65 64 64.6 8510 549513.5 FIRST PHIL HLDG MERALCO 302 302.6 302 305.4 296 296 269990 81283122 MANILA WATER 14.04 14.1 14.02 14.3 14.02 14.1 1782200 25179168 3.1 3.11 3.1 3.13 3.09 3.11 1778000 5526890 PETRON 3.5 3.55 3.5 3.5 3.45 3.5 26000 90230 PETROENERGY PHX PETROLEUM 12.74 13 13.14 13.2 12.74 13.18 310700 4045598 16.02 16.04 16.04 16.32 16.02 16.3 685000 11144298 PILIPINAS SHELL 10.96 10.98 11 11.06 10.96 11.06 654600 7207906 SPC POWER VIVANT 14.18 14.96 14.18 14.18 14.18 14.18 1400 19852 7.95 8 7.96 8.08 7.83 8.08 104000 820929 AGRINURTURE 2.94 2.97 2.95 2.97 2.9 2.91 1580000 4610870 AXELUM 11.32 12.48 12.2 12.2 12.2 12.2 3500 42700 CNTRL AZUCARERA CENTURY FOOD 17.28 17.3 17.1 17.6 17.1 17.5 1261100 22066908 DEL MONTE 5 5.01 5 5.1 5 5.1 56900 285328 6.47 6.48 6.35 6.7 6.35 6.42 6950500 45177167 DNL INDUS 9.87 9.9 9.99 10 9.87 10 2493000 24902438 EMPERADOR SMC FOODANDBEV 63.4 63.5 63.4 63.5 62.85 63 1161380 73217196.5 ALLIANCE SELECT 0.63 0.64 0.63 0.64 0.63 0.64 425000 271270 1.36 1.38 1.37 1.39 1.33 1.37 15381000 20904870 FRUITAS HLDG GINEBRA 47.6 49 46 51.1 46 50.9 169900 8526665 JOLLIBEE 187.3 187.4 185 199 184.8 194.2 2009130 389525056 7.54 7.92 7.6 7.92 7.6 7.92 1100 8392 MACAY HLDG 6.16 6.18 6.16 6.3 6.16 6.3 1403300 8728473 MAXS GROUP MG HLDG 0.141 0.146 0.146 0.147 0.145 0.145 400000 58400 7.38 7.4 7.4 7.45 7.25 7.44 832200 6157128 SHAKEYS PIZZA 1.19 1.2 1.2 1.21 1.18 1.2 3033000 3608970 ROXAS AND CO 0.107 0.11 0.107 0.119 0.107 0.116 1150000 131790 SWIFT FOODS UNIV ROBINA 140.7 140.8 141 144.4 140.7 143.1 1407450 201176189 VITARICH 0.8 0.81 0.81 0.81 0.79 0.79 3213000 2585650 2.2 2.33 2.2 2.2 2.2 2.2 11000 24200 VICTORIAS CONCRETE A 51.7 54.3 51.7 52.1 51.7 52.1 1010 52285 54.5 58.4 54.5 58.4 54.5 57 110 6089 CONCRETE B 1.64 1.65 1.71 1.72 1.63 1.66 13968000 23259810 CEMEX HLDG 4.21 4.49 4.28 4.46 4.28 4.46 6000 26340 DAVINCI CAPITAL EAGLE CEMENT 15.18 15.26 15.26 15.3 15 15.3 1169000 17851242 EEI CORP 7.41 7.42 7.5 7.5 7.25 7.28 1252900 9141778 5.66 5.68 5.85 5.88 5.66 5.75 2041700 11767056 HOLCIM 7.45 7.49 7.45 7.7 7.43 7.58 5652100 42873306 MEGAWIDE PHINMA 8.11 8.34 8.29 8.35 8.29 8.35 9000 74930 0.75 0.78 0.75 0.78 0.74 0.76 129000 97390 TKC METALS 0.77 0.78 0.78 0.79 0.76 0.79 1040000 802760 VULCAN INDL CHEMPHIL 121.1 159.8 121.1 122 121.1 122 160 19511 2.04 2.08 2.08 2.08 2.04 2.04 3000 6170 CROWN ASIA 1.88 1.9 1.89 1.95 1.86 1.94 737000 1404690 EUROMED 4.27 4.49 4.4 4.49 4.26 4.49 6000 26080 LMG CORP MABUHAY VINYL 4.35 4.39 4.39 4.4 4.39 4.39 13000 57100 4.2 4.36 4.3 4.3 4.3 4.3 1000 4300 PRYCE CORP 20.7 21.4 21.4 21.4 21.3 21.4 1400 29910 CONCEPCION 2.39 2.4 2.42 2.51 2.38 2.51 13809000 33873250 GREENERGY INTEGRATED MICR 7.3 7.35 7.25 7.35 7.02 7.06 1239200 8908950 IONICS 1 1.02 1 1.04 1 1.03 841000 857740 5.09 5.5 5.5 5.5 5.5 5.5 100 550 PANASONIC SFA SEMICON 1.56 1.57 1.55 1.57 1.47 1.53 1334000 2034130 CIRTEK HLDG 5.53 5.54 5.52 5.72 5.46 5.72 4873900 27561619

-8805630 6231970 3415880 74321.9997 17737940 -5544166 -2201200 -387998 55000 24450 -72480 -1046264 -74206 6418584 -496625 -19554017 6400 205760 6914440 96888139 1584023 1571402 593440 30148335 -8000 588550 -8197232 174565 -3473995 -22286592 93600 -49.9999 2292950 -143819 -3140 674929

HOLDING & FRIMS ABACORE CAPITAL 0.51 0.52 0.52 0.52 0.49 0.49 18042000 9086545 7.72 8.38 8.38 8.38 7.72 8.15 18200 146772 ASIABEST GROUP AYALA CORP 779 780 769 795 768.5 795 334990 263432815 ABOITIZ EQUITY 45 45.05 44.05 47 44.05 46.5 2372300 109541360 8.29 8.32 8.25 8.49 8.24 8.37 11672100 97606040 ALLIANCE GLOBAL 2.78 2.8 2.73 2.8 2.73 2.78 2429000 6756240 AYALA LAND LOG ANSCOR 6.27 6.99 6.4 6.4 6.26 6.38 64700 409560 ANGLO PHIL HLDG 0.63 0.64 0.63 0.64 0.63 0.64 157000 100040 0.93 0.94 0.95 0.97 0.93 0.97 5145000 4946060 ATN HLDG A 0.94 0.96 0.94 0.97 0.94 0.97 363000 345240 ATN HLDG B COSCO CAPITAL 5.22 5.23 5.23 5.4 5.23 5.35 4253900 22741429 DMCI HLDG 4.66 4.69 4.69 4.96 4.65 4.95 20863000 101898590 9.13 9.5 9.5 9.5 9.4 9.5 23100 217390 FILINVEST DEV FORUM PACIFIC 0.2 0.228 0.224 0.228 0.21 0.228 180000 39410 460.2 462.8 450.4 485 446.8 485 1058740 504259924 GT CAPITAL 3.35 3.4 3.4 3.45 3.35 3.4 1259000 4288990 HOUSE OF INV 65.85 65.95 65.7 69.7 65.4 69.55 2547380 174484367.5 JG SUMMIT JOLLIVILLE HLDG 3.51 4.6 4.5 4.5 4.5 4.5 2000 9000 0.77 0.78 0.78 0.8 0.77 0.77 486000 377110 LODESTAR 2.56 2.61 2.62 2.66 2.55 2.63 1958000 5,106,710( LOPEZ HLDG 12.06 12.16 12.14 12.32 12.04 12.16 5078800 61873692 LT GROUP MABUHAY HLDG 0.52 0.55 0.55 0.55 0.55 0.55 10000 5500 1.82 1.97 1.82 1.85 1.82 1.85 11000 20140 MJC INVESTMENTS 4.11 4.12 4.05 4.13 4.05 4.13 31448000 128816780 METRO PAC INV PRIME MEDIA 0.81 0.84 0.84 0.84 0.78 0.83 113000 89830 1.01 1.02 1.01 1.15 1.01 1.11 516000 548190 SOLID GROUP 160 170 170 173 170 172.5 1830 314905 SYNERGY GRID 994 995 995 1047 984.5 1010 755780 777056895 SM INVESTMENTS SAN MIGUEL CORP 102.6 103 102.8 104.5 102.5 104 183130 19021373 SOC RESOURCES 0.72 0.74 0.74 0.74 0.71 0.73 442000 321480 124 126 126 129 126 129 3540 446340 TOP FRONTIER 0.218 0.22 0.224 0.224 0.211 0.221 5020000 1080540 WELLEX INDUS ZEUS HLDG 0.143 0.145 0.143 0.145 0.143 0.145 690000 99670

-991250 41000 50178010 35129310 -6728640 -543620 -409560 140710 1726406 -1285550 228769128 -1644380 68297077.5 1,383,550.0001) -43081834 -3647840 -42400 167734380 -2500524 12900 -

PROPERTY

ARTHALAND CORP ANCHOR LAND AYALA LAND ARANETA PROP AREIT RT BELLE CORP A BROWN CITYLAND DEVT CROWN EQUITIES CEBU HLDG CEB LANDMASTERS CENTURY PROP CYBER BAY DOUBLEDRAGON DM WENCESLAO EMPIRE EAST EVER GOTESCO FILINVEST LAND GLOBAL ESTATE 8990 HLDG PHIL INFRADEV KEPPEL PROP CITY AND LAND MEGAWORLD MRC ALLIED PHIL ESTATES PRIMEX CORP ROBINSONS LAND PHIL REALTY ROCKWELL STA LUCIA LAND SM PRIME HLDG VISTAMALLS SUNTRUST HOME VISTA LAND

0.58 7.52 33.95 1.04 25.6 1.47 0.81 0.8 0.133 5.8 4.52 0.36 0.39 13.92 5.3 0.28 0.085 0.97 0.75 7.75 1.5 2.91 0.68 3.14 0.465 0.365 1.13 15.96 0.231 1.5 1.85 33.95 4.2 1.26 3.45

0.59 8.1 34 1.05 25.65 1.49 0.82 0.82 0.136 5.98 4.6 0.365 0.395 14 5.37 0.29 0.09 0.98 0.76 7.9 1.51 3.29 0.73 3.15 0.47 0.43 1.14 15.98 0.238 1.54 1.9 34 4.35 1.27 3.46

0.6 7.52 33.5 1.05 25.65 1.47 0.81 0.82 0.133 5.98 4.56 0.365 0.395 14.06 5.3 0.285 0.089 0.97 0.76 7.64 1.51 2.94 0.7 3.12 0.475 0.365 1.18 15.84 0.238 1.5 1.85 33.85 4.2 1.28 3.47

0.6 7.52 34.8 1.1 25.65 1.53 0.82 0.82 0.135 5.98 4.6 0.365 0.395 14.1 5.37 0.295 0.089 1.02 0.77 7.9 1.54 3.28 0.7 3.25 0.48 0.365 1.18 16.44 0.249 1.53 1.9 35.65 4.2 1.31 3.61

0.58 7.52 33.5 1.04 25.5 1.47 0.8 0.81 0.133 5.8 4.5 0.36 0.37 13.88 5.27 0.28 0.088 0.97 0.75 7.64 1.49 2.93 0.68 3.1 0.46 0.36 1.1 15.84 0.238 1.5 1.81 33.8 4.14 1.26 3.45

0.59 7.52 34.05 1.04 25.6 1.48 0.82 0.81 0.135 5.98 4.6 0.36 0.39 14 5.36 0.295 0.089 0.99 0.76 7.85 1.52 3.28 0.68 3.25 0.465 0.36 1.13 16.4 0.249 1.53 1.9 35.3 4.16 1.31 3.61

1242000 400 16783600 184000 2057200 1587000 2145000 37000 4080000 37000 1223000 2220000 3420000 844400 166200 2850000 170000 48044000 4042000 177600 2767000 7000 32000 48655000 121180000 110000 7053000 6031000 1210000 215000 88000 9977800 253000 2663000 6782000

730250 3008 575475120 194420 52614360 2386180 1733120 29990 550410 219766 5,562,960( 803450 1289300 11788176 886834 822650 15110 47998350 3060670 1380147 4188410 20890 21890 155126150 57096350 39850 7855210 97414398 291910 328520 162410 349983605 1056410 3447710 24078790

141600 123603025 -33676625 -897390 472500 170430 4,661,809.9999) 18250 7400 -7389434 2120 -603200 2244170 -1218960 23550 -153000 31079370 255000 3600 314910 14869958 124564625 15120 309570

SERVICES ABS CBN 11.1 11.18 11.1 11.18 11.02 11.06 271600 3009996 5.06 5.07 5.08 5.08 5.05 5.06 440600 2231854 GMA NETWORK MANILA BULLETIN 0.4 0.41 0.4 0.4 0.4 0.4 100000 40000 11.02 11.66 11.02 11.02 11 11 6000 66060 MLA BRDCASTING 2022 2034 2034 2078 2014 2014 52595 106779540 GLOBE TELECOM 1332 1334 1326 1358 1325 1340 246840 330590375 PLDT APOLLO GLOBAL 0.051 0.052 0.053 0.053 0.051 0.052 21590000 1114580 14.72 14.74 14.74 15.02 14.72 14.98 16903100 251531064 CONVERGE 3.75 3.95 3.77 3.8 3.67 3.67 165000 614140 DFNN INC 6.02 6.03 6.2 6.2 5.88 5.89 119228100 712003828 DITO CME HLDG IMPERIAL 1.34 1.35 1.34 1.4 1.34 1.37 40000 55030 0.093 0.095 0.093 0.095 0.091 0.095 3950000 364950 ISLAND INFO 1.6 1.64 1.65 1.67 1.6 1.6 160000 257740 JACKSTONES NOW CORP 4.06 4.08 4.23 4.25 4.03 4.08 16842000 68908460 TRANSPACIFIC BR 0.265 0.27 0.265 0.275 0.26 0.265 11780000 3126950 2.86 2.88 3 3 2.83 2.95 2861000 8320840 PHILWEB 8.8 8.9 8.9 8.9 8.65 8.76 87600 766242 2GO GROUP ASIAN TERMINALS 15.34 15.62 15.62 15.64 15.62 15.64 2800 43788 CHELSEA 4.93 4.98 5.28 5.28 4.86 4.94 12809400 63963107 39.45 39.5 39.1 40 38.85 39.65 725400 28732970 CEBU AIR 118.3 118.4 115.5 122 115.5 120 2114220 253648592 INTL CONTAINER LBC EXPRESS 14.66 15.7 15.7 15.72 15.7 15.72 13400 210404 0.97 1 0.97 1 0.97 1 125000 123990 LORENZO SHIPPNG 5.7 5.74 5.58 5.87 5.58 5.75 10444100 59811529 MACROASIA METROALLIANCE A 1.87 1.89 1.9 1.95 1.86 1.94 717000 1362190 6.9 6.95 6.95 6.95 6.85 6.85 57200 394115 PAL HLDG 1.37 1.38 1.41 1.41 1.31 1.33 9384000 12721840 HARBOR STAR 1.41 1.5 1.47 1.47 1.4 1.47 126000 177600 ACESITE HOTEL BOULEVARD HLDG 0.027 0.028 0.027 0.027 0.026 0.027 28600000 771900 1.61 1.7 1.7 1.88 1.7 1.71 36000 63740 DISCOVERY WORLD 0.58 0.59 0.63 0.65 0.55 0.64 25652000 15572810 WATERFRONT 6.5 6.99 6.99 6.99 6.99 6.99 200 1398 CENTRO ESCOLAR FAR EASTERN U 550 559 550 555 550 555 240 132050 7.49 7.99 7.99 8.2 7.55 8.2 6800 53961 IPEOPLE 0.345 0.35 0.35 0.355 0.345 0.355 2830000 993100 STI HLDG BERJAYA 3.95 3.99 4.03 4.29 3.84 4.29 1044000 4252350 BLOOMBERRY 7.98 7.99 7.95 8.1 7.95 8.05 10944400 88178821 1.83 1.9 1.88 1.88 1.85 1.88 128000 240610 PACIFIC ONLINE 1.63 1.64 1.63 1.64 1.59 1.6 463000 747110 LEISURE AND RES PH RESORTS GRP 2.46 2.48 2.15 2.65 2.01 2.18 254434000 581578110 PREMIUM LEISURE 0.35 0.355 0.36 0.36 0.345 0.355 42670000 15008950 7.2 7.24 7.22 7.39 7.15 7.35 2524700 18368721 ALLHOME 1.47 1.49 1.48 1.53 1.47 1.51 4294000 6460270 METRO RETAIL PUREGOLD 41.9 41.95 42 42.15 41.75 41.85 3791500 159019120 ROBINSONS RTL 65.05 65.3 64.75 65.7 64.75 65 701520 45678034.5 110.1 111 111 112.5 110.1 112.4 5100 571992 PHIL SEVEN CORP SSI GROUP 1.58 1.59 1.57 1.6 1.4 1.53 19554000 29728240 WILCON DEPOT 15.2 15.22 15.2 15.62 15.1 15.38 13356700 206125986 0.34 0.345 0.345 0.365 0.34 0.365 16040000 5652000 APC GROUP 6.9 7 6.9 6.9 6.85 6.9 45600 314270 EASYCALL GOLDEN BRIA 351 360 360 360 352.2 360 1080 388488 PAXYS 2.1 2.2 2.11 2.11 2.09 2.09 23000 48260 4.1 4.19 4.1 4.1 4.1 4.1 10000 41000 SBS PHIL CORP

15207590 -135845605 10980900 -62270 -16782788 32780 748050.0002 18550 241370 -40664 -4136020 -15409430 -19770413 1978671 54264 285180 4230 -5840 -6899.9999 -70600 -16512513 -18800 -37403250 -5395650 9009105 -661960 -44196090 -3176923 112096 2386020 12262114 -103499.9999 -41400 -309600 12300

MINING & OIL ATOK 10.12 10.16 10.02 10.2 9.74 10 308800 3072114 APEX MINING 1.89 1.91 1.87 1.91 1.87 1.88 8187000 15396170 243310 ABRA MINING 0.0011 0.0012 0.0011 0.0012 0.001 0.0012 3605000000 3985900 28000 4.14 4.2 4.14 4.27 4.14 4.27 282000 1197140 ATLAS MINING 3.08 3.2 3.17 3.2 3.08 3.16 238000 745960 BENGUET A BENGUET B 3.1 3.2 3.1 3.12 3.05 3.1 72000 223120 0.25 0.26 0.25 0.28 0.25 0.265 2250000 604800 COAL ASIA HLDG 2.46 2.5 2.46 2.47 2.46 2.47 3000 7400 CENTURY PEAK 7.71 7.94 7.94 8.09 7.81 7.86 184400 1451038 DIZON MINES FERRONICKEL 1.32 1.34 1.32 1.35 1.32 1.34 3882000 5201130 364010 GEOGRACE 0.241 0.246 0.245 0.245 0.241 0.241 20000 4860 0.161 0.163 0.163 0.163 0.157 0.159 16640000 2655020 LEPANTO A LEPANTO B 0.161 0.162 0.161 0.161 0.161 0.161 630000 101430 0.01 0.011 0.011 0.012 0.011 0.012 300000 3400 MANILA MINING B 0.95 0.96 0.96 0.97 0.94 0.95 2565000 2444650 MARCVENTURES 2.6 2.66 2.6 2.7 2.58 2.65 693000 1828860 NIHAO NICKEL ASIA 3.97 3.98 4.03 4.03 3.96 4.01 16871000 67559180 33132029.9998 OMICO CORP 0.33 0.335 0.335 0.335 0.32 0.335 2230000 727450 -474500 0.67 0.68 0.68 0.72 0.67 0.71 3122000 2185010 -11200 ORNTL PENINSULA 5.43 5.45 5.47 5.7 5.42 5.5 2223800 12345128 1163635 PX MINING SEMIRARA MINING 10.74 10.76 10.8 10.92 10.7 10.82 2455800 26534832 2385816 UNITED PARAGON 0.0051 0.0054 0.0051 0.0051 0.0051 0.0051 9000000 45900 6.52 6.6 6.69 6.69 6.3 6.5 55900 362961 ACE ENEXOR ORNTL PETROL A 0.0097 0.0099 0.0097 0.0099 0.0097 0.0097 3000000 29300 0.0098 0.0099 0.0098 0.0098 0.0097 0.0097 2000000 19500 ORNTL PETROL B 0.0086 0.0087 0.0086 0.0086 0.0085 0.0085 6000000 51300 PHILODRILL 13.26 13.28 13.2 13.3 12.32 12.32 4441000 56596588 999734 PXP ENERGY

PREFFERED HOUSE PREF A 101.3 102 101.9 101.9 101.9 101.9 100 10190 103 103.5 103.4 103.4 103 103 260 26868 ALCO PREF B AC PREF B2R 503 517 517 517 516 516 20 10330 100.8 101 101 101 101 101 11780 1189780 CPG PREF A 100.8 102 102 102 101.9 102 3460 352821 DD PREF 110 110.5 109 110 109 110 8430 925870 FGEN PREF G GTCAP PREF A 1001 1005 1001 1001 1000 1000 610 610050 1032 1040 1039 1040 1031 1040 4650 4831380 GTCAP PREF B 101.5 101.6 101.5 101.6 101.5 101.5 1990 201995 MWIDE PREF 990 998 998 998 997 998 1830 1826240 -1726540 PNX PREF 4 PCOR PREF 2B 1030 1040 1040 1040 1030 1030 125 129850 1062 1063 1063 1065 1063 1065 7000 7450150 PCOR PREF 3A 1090 1100 1100 1100 1091 1091 270 295515 PCOR PREF 3B SMC PREF 2C 78 78.2 78.2 78.2 78 78.2 1240 96928 77.6 79 79 79 78 78 250 19550 3950 SMC PREF 2F 75.8 76 76 76 76 76 5240 398240 SMC PREF 2G 76.8 76.9 76.8 76.85 76.5 76.85 63470 4877493 SMC PREF 2J

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 10.78 10.96 10.78 10.78 10.72 10.72 34700 373424 4.88 5 4.99 4.99 4.99 4.99 20000 99800 99800 GMA HLDG PDR

WARRANTS LR WARRANT 0.86 0.88 0.86 0.87 0.86 0.86 91000 78730

SMALL & MEDIUM ENTERPRISES ALTUS PROP 12.8 12.88 13.08 13.08 12.42 12.52 871500 10999724 135080 2.88 2.9 2.93 2.94 2.85 2.9 3724000 10814360 292210 ITALPINAS KEPWEALTH 5.6 5.67 5.67 5.67 5.45 5.54 83100 460971 5500 MAKATI FINANCE 2.23 2.69 2.24 2.24 2.2 2.2 25000 55660 3.84 3.85 3.8 3.95 3.8 3.88 49284000 191590500 611420 MERRYMART

EXHANGE TRADE FUNDS

FIRST METRO ETF 97.9 98 98 100.9 97.9 100.9 56580 5637351.5 37559

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‘AboitizPower spending plan aimed at hiking RE portfolio’

A

By Lenie Lectura

@llectura

boitiz Power Corp. is setting aside P24 billion for capital expenditures (capex) next year to support new and existing power projects meant to boost its renewables portfolio and eventually hit a 50:50 balance mix with fossil fuel.

The 2021 capex is lower than this year’s P33 billion.

“We are looking at P24 billion for next year, mostly to fund existing projects like GNPD [GNPower Dinginin] and new projects like our energy storage systems for TMI [Therma Marine Inc.] and SNAP [SN Aboitiz Power]. We are also going to allocate capex for the full engineering study of the floating solar of SNAP in Magat,” said company president Emmanuel Rubio.

Unit 1 of GNPower Dinginin will synchronize by the end of 2020 and will commence commercial op-

erations by the second quarter of 2021. Unit 2 will synchronize and earn commissioning revenues by the second quarter of 2021 and will commence commercial operations by the third quarter of 2021.

He added that GNDP’s capacity would be tapped to bid for the supply requirements of the Manila Electric Company.

“We are interested to participate in the Meralco [Manila Electric Co.] bid through GNDP. Both units are qualified based on the terms of reference,” Rubio said.

Meanwhile, the 39-MW Naga

Power Plant Complex in Cebu started commercial operations last August after obtaining a Provisional Authority to Operate from the Energy Regulatory Commission.

The power firm has already surpassed its 4,000MW target attributable capacity for the year.

It is now focus on expanding its ‘Cleanergy’ renewables brand in the next 10 years by growing its renewable energy (RE) portfolio from 940MW to close to 1800MW, Rubio said.

Rubio said this could be achieved mainly with the government’s Renewable Portfolio Standards (RPS) and Green Energy Option Program (GEOP).

RPS is a market-based policy that requires electricity suppliers to source an agreed portion of their energy supply from eligible RE resources.

The GEOP is a mechanism that shall provide end-users the option to choose RE Resources as their source of energy.

“With regard to our 50:50 mix, we expect that. With RPS and GEOP, we are now provided a venue where we can sell capacity that we will be

investing in terms of RE,” he said.

Aboitiz Power is also keen on liquefied natural gas (LNG), which is fast becoming a popular trend in power investments. “We have organized a team for gas for baseload capacity and this is something that we are seeing in the next 10 years.

LNG is part of our strategy moving forward.”

When asked to comment on the latest DOE (Department of Energy) pronouncement that it would ban greenfield coal power projects, Rubio said the company fully supports this but would rather wait for the final guidelines.

Although he did mention the difficulty in financing coal plants “that’s why we mentioned before that we are not going to do greenfield coal plants moving forward.”

The pandemic has significantly impacted the company’s financial performance, but was able to sustain the delivery of the much-needed energy products and services.

“What is gone is gone. Lower demand, I don’t think you can recover from that. What we are preparing is the new capacities coming in,” said Rubio.

PLDT drops bid to acquire SkyCable P

LDT said it has decided not to pursue its interest in Lopezowned SkyCable after the phone giant was told of the possible risks, which could eventually lead to a divestment.

“I think we have withdrawn from the bidding process,” company chairman Manuel V. Pangilinan announced Thursday after he presented the company’s financial results for the nine months of the year.

Pangilinan said the Philippine Competition Commission (PCC) might not approve the deal.

“On review of the Bayanihan Act 2, the PCC has the ability to review mergers and acquisitions one year after the affectivity of that and possibly reverse agreements. That risk might arise, the risk is there and the prospect of divestment might be real so we decided not to attract that risk,” he said.

The phone giant, he added, was advised by legal experts to not pursue the deal. “On further review by

ourselves and our legal counsel, we were told there was this risk of possible divestment by us on review,” Pangilinan said.

Earlier, Surigao del Sur Rep. Johnny Pimentel warned that there will be “serious concerns” about the possibility of PLDT acquiring SkyCable, citing antitrust issues.

“The deal may easily be construed as buying out the competition in order to kill it,” Pimentel said.

The group of Pangilinan also provides a direct-to-home satellite service via Cignal TV. Pimentel said the PCC might reject the deal because it is seen to prevent, restrict or lessen market competition.

“After all, PLDT is in a position to conveniently replace all the products, including the high-speed internet services, being offered by SkyCable,” added the lawmaker. “Existing SkyCable subscribers might simply become PLDT Fiber and Cignal subscribers overnight.” Lenie Lectura

‘Pass bill mandating creation of national cashless toll system’

P

ending the implementation of cashless toll collection, a leader of the House of Representatives called on the leadership of the lower chamber to swiftly pass a bill establishing a National Electronic Toll Collection System.

Valenzuela 1st District Rep. Wes Gatchalian, chairman of the House Committee on Trade and Industry, said his House Bill 6119 requires all toll collection facilities operating in Philippines expressways to implement technologies and business practices that provide for the interoperability of electronic toll collection programs. The bill mandates the Department of Transportation (DOTr), in collaboration with the Department of Science and Technology (DOST), to create a multi-protocol RFID tag for the National Electronic Toll Collection System.

The new RFID tag must be ready for integration with existing toll collection systems of all expressways and reloadable in all reloading stations. The measure also mandates that all toll facilities in the country must comply with requirements

for toll interoperability within six months of the law’s enactment, otherwise a toll owner or operator who fails to comply with the deadline will be fined P5,000 for every day of noncompliance.

On Wednesday, Gatchalian asked the DOTr not to implement cashless toll payments until radio-frequency identification (RFID) of the two toll operators become interoperable.

He said the Toll Regulatory Board (TRB) shoud suspend the implementation of the cashless toll collection until both RFID systems are made compatible with each other.

Autosweep tags are issued by San Miguel Corp. for the Skyway, South Luzon expressway, STAR Tollway, Tarlac–Pangasinan–La Union Expressway, Ninoy Aquino International Airport Expressway, and the Muntinlupa-Cavite Expressway.

Easytrip, meanwhile, is issued by the Metro Pacific Tollways Corp. to be used in the North Luzon Expressway, Subic-Clark-Tarlac Expressway, Cavite Expressway, C5 Southlink, and Cavite-Laguna Expressway. Jovee Marie N. Dela Cruz

mutual funds

November 5, 2020

NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds ALFM Growth Fund, Inc. -a 209.62 -18.96% -10.49% -3.91% -16.76% ATRAM Alpha Opportunity Fund, Inc. -a 1.1177 -26.52% -11.53% -2.78% -19.12% ATRAM Philippine Equity Opportunity Fund, Inc. -a 2.8601 -28.07% -14.44% -6.09% -22.24% Climbs Share Capital Equity Investment Fund Corp. -a 0.7257 -23.97% -10.45% n.a. -19.19% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.7063 -19.62% n.a. n.a. -16.84% First Metro Save and Learn Equity Fund,Inc. -a 4.4999 -18.05% -8.96% -4.21% -15.55% First Metro Save and Learn Philippine Index Fund, Inc. -a,4 0.7059 -20.04% -10.02% n.a.

-17.3% MBG Equity Investment Fund, Inc. -a 88.1 -22.68% n.a. n.a. -14.65% PAMI Equity Index Fund, Inc. -a 42.5239 -19.65% -8.87% -2.56% -17.08% Philam Strategic Growth Fund, Inc. -a 451.19 -17.83% -8.45% -2.99% -15.31% Philequity Alpha One Fund, Inc. -a,d, 5 0.9772 n.a. n.a. n.a.

-5.14% Philequity Dividend Yield Fund, Inc. -a 1.0674 -19.73% -8.79% -2.61% -17.06% Philequity Fund, Inc. -a 31.4767 -19.65% -8.32% -2.16% -16.94% Philequity MSCI Philippine Index Fund, Inc. -a 0.8319 -21% n.a. n.a. -18.29% Philequity PSE Index Fund Inc. -a 4.3447 -19.29% -8.39% -1.87% -16.82% Philippine Stock Index Fund Corp. -a 726.68 -19.15% -8.3% -1.99% -16.66% Soldivo Strategic Growth Fund, Inc. -a 0.6564 -28.41% -12.12% -5.97% -22.9% Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.3034 -24.16% -10.2% -3.66% -21.52% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.8323 -19.37% -8.58% -2.07% -16.84% United Fund, Inc. -a 3.0208 -19.72% -7.79% -1.75% -17.31% Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 97.6028 -19.02% -8% -1.22% -16.55% Primarily invested in foreign currency securities ATRAM AsiaPlus Equity Fund, Inc. -b

$1.0855 11.11% 0.14% 3.63% 5.55% Sun Life Prosperity World Voyager Fund, Inc. -a $1.5061 6.86% n.a.

9.24% 14.2% Balanced Funds Primarily invested in Peso securities ATRAM Dynamic Allocation Fund, Inc. -a 1.566 -2.53% -5.56% -2.66% 0.2% ATRAM Philippine Balanced Fund, Inc. -a 2.12 -7.79% -4.75% -1.07% -2.8% First Metro Save and Learn Balanced Fund Inc. -a 2.4779 -7.41% -3.57% -2.45% -5.84% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,1 0.1879 -21.25% n.a. n.a.

-17.77% NCM Mutual Fund of the Phils., Inc. -a 1.8895 -4.57% -1.58% 0.66% -3.68% PAMI Horizon Fund, Inc. -a 3.591 -6.55% -2.91% -0.45% -5.23% Philam Fund, Inc. -a 16.0716 -6.56% -3% -0.49% -5.24% Solidaritas Fund, Inc. -a 1.987 -8.39% -0.58% -6.37% -4.03% Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.3768 -14.35% -5.37% -1.77% -12.6% Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 0.9665 -6.56% n.a. n.a.

-4.84% Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.8784 -14.18% n.a. n.a. -11.84% Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.8587 -15.85% n.a. n.a. -13.54% Sun Life Prosperity Dynamic Fund, Inc. -a 0.8276 -17.18% -6.48% -2.69% -15.1% Primarily invested in foreign currency securities Cocolife Dollar Fund Builder, Inc. -a $0.0388 1.41% 2.4% 1.86% 1.57% PAMI Asia Balanced Fund, Inc. -b $1.0628 6.11% 0.96% 3.15% 5.02% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.1347 8.65% 4.91% 5.46% 5.73% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,3 $1.1608 4.25% 2.61% n.a.

2.84% Bond Funds Primarily invested in Peso securities ALFM Peso Bond Fund, Inc. -a 368.83 3.68% 3.11% 2.63% 3.04% ATRAM Corporate Bond Fund, Inc. -a 1.8941 -1.52% -0.12% -0.27% -0.42% Cocolife Fixed Income Fund, Inc. -a 3.2065 3.55% 4.67% 4.89% 2.84% Ekklesia Mutual Fund Inc. -a 2.2875 3.2% 2.7% 2.17% 2.88% First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4421 4.04% 3.27% 1.93% 3.52% Philam Bond Fund, Inc. -a 4.6112 6.24% 4.17% 5.45% 2.64% Philam Managed Income Fund, Inc. -a,6 1.312 5.23% 4.35% 2.46% 4.4% Philequity Peso Bond Fund, Inc. -a 3.9609 5.48% 4.23% 2.39% 4.56% Soldivo Bond Fund, Inc. -a 1.0348 8.29% 3.71% 2.02% 7.31% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.1742 3.83% 4.52% 2.88% 3.21% Sun Life Prosperity GS Fund, Inc. -a 1.7387 2.97% 3.86% 2.3% 2.21% Primarily invested in foreign currency securities ALFM Dollar Bond Fund, Inc. -a $480.23 2.99% 2.58% 2.8% 2.53% ALFM Euro Bond Fund, Inc. -a Є217.69 -0.99% 0.68% 1.14% -0.96% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.2438 3.41% 3.12% 2.56% 3.03% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0264 2.33% 1.83% 1.59% 2.33% PAMI Global Bond Fund, Inc -b $1.0853 -1.1% 0.13% 0.47% -0.76% Philam Dollar Bond Fund, Inc. -a $2.502 4.25% 3.7% 3.3% 4.1% Philequity Dollar Income Fund Inc. -a $0.06152 2.04% 2.29% 2.07% 2.02% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.1949 0.79% 1.99% 2.37% 0.62% Money Market Funds Primarily invested in Peso securities ALFM Money Market Fund, Inc. -a 129.41 3.43% 3.33% 2.54% 2.85% First Metro Save and Learn Money Market Fund, Inc. -a 1.0462 1.83% n.a. n.a.

1.94% Sun Life Prosperity Money Market Fund, Inc. -a 1.293 2.72% 3.01% 2.62% 2.21% Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0509 1.57% n.a. n.a.

1.21% Feeder Funds Primarily invested in Peso securities Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a,d,7 1.0159 n.a. n.a. n.a. n.a.

Primarily invested in foreign currency securities ALFM Global Multi-Asset Income Fund Inc. -b,d,2 $0.94 n.a. n.a. n.a.

-5.05%

a - NAVPS as of the previous banking day. b - NAVPS as of two banking days ago. c - Listed in the PSE. d - in Net Asset Value per Unit (NAVPU).

1 - Launch date is September 28, 2019. 2 - Launch date is November 15, 2019. 3 - Adjusted due to stock dividend issuance last October 9, 2019.

4 - Renaming was approved by the SEC last October 12, 2018 (formerly, One Wealthy Nation Fund, Inc.). 5 - Launch date is December 09, 2019.

6 - Re-classified into a Bond Fund starting February 21, 2020 (Formerly a Money Market Fund). 7 - Launch date is July 6, 2020.

"While we endeavor to keep the information accurate, the Philippine Investment Funds Association (PIFA) and its members make no warranties as to the correctness of the newspaper’s publication and assume no liability or responsibility for any error or omissions. You may visit http://www. pifa.com.ph to see the

latest NAVPS/NAVPU."

www.businessmirror.com.ph

Banking&Finance BusinessMirror

RCBC introduces online account opening facility

R

izal Commercial Banking Corp. (RCBC) announced on Thursday the launch of its first fully-automated online account opening facility.

In a statement, the Yuchengco-led bank said that the web-based platform “allows an end-to-end digital onboarding process for any type of deposit account.”

It incorporates an electronic Know-Your-Customer function, which captures and validates both customer data and identification real-time.

On Thursday, RCBC saw its shares climb by 0.12 percent, or 2 centavos, to end at P17.16 apiece amid the 2.80-percent improvement for the main index.

RCBC said that their online solution is aimed at providing better customer experience because clients can be automatically enrolled in the app.

The bank said its online platform features a complete suite of services.

“With the restricted living conditions that we are in right now and with people still apprehensive to go outside, we want to be able to provide a platform where it is safe, fast and easy to open an account with us,” RCBC Retail Banking Group Head Richard C. Lim said.

“We understand that adjusting to the new normal has not been easy for everyone and we will be here to guide and assist you until you trust and believe in this online solution,” he added.

To open an account, RCBC is requiring one valid government-issued ID and a Philippine mobile number.

RCBC saw its net income in the first half climb by 17 percent to P3.1 billion from P2.66 billion last year because of higher trading gains, which surged by 80.3 percent to P5.9 billion. As of end-June, total assets and capital stood at P718.75 billion and P84.44 billion, respectively.

Tyrone Jasper C. Piad

What is ‘Associativism’?

I

T was a pleasant surprise to receive a reaching-out email from Fabio Ribeiro Dias, director of the Escola de Associativismo (EA) based in Vitoria City in the Brazilian state of Espiritu Santo. What struck me first was the term “associativism” as I have never heard this word before. My first instinct was to Google it. Surprise, surprise!

There is such a word; but more on this later.

In his email, Fabio mentioned that EA has been in operation for five years now and, while its scope is wide, it is focused on three types of associations: for entrepreneurs; for philanthropic organizations (hospital support); and, for neighborhood homeowners.

The EA produces or collects and curates knowledge content and turns them into training program materials to help associations to be more effective in providing relevant services to their members, to be respected, and to be heard by government authorities and by society in general.

In conceptualizing and founding the EA, Sergio Rogerio de Castro, chairman of the Management Council, wrote about his conviction to transform associativism as an indispensable tool for a strong organized society, which is a fundamental condition for the existence of a democratic state and well-being for all.

So what is “associativism”?

My brief research led me to “The 8 Principles of Associativism” by Gilmar Barboza who enumerated them as follows: free membership associations; democratic management; economic participation of partners; autonomy; continuous improvement and investment in education; integration between associates; commitment to the community; and, the spread of associativism, which represents an alternative for reorganizing society in a world to be built under the “New Normal.”

Still perplexed, I checked the suffix “-ism,” which means a distinctive doctrine, cause or theory.

The Portuguese associativismo translated to English means collective cooperation, or partnership-

Association World Octavio Peralta making and a symbol of freedom to associate. Fabio added, “just like everything that refers to cooperatives can be cooperativism, automobiles can be automobilism, the suffix ‘-ismo’ in Portuguese is used to give the connotation of covering the subject in the previous word.

Associativism does not mean associations but everything that concerns them.”

Having browsed EA’s website over and over again and noting the English translation it uses for “Escola de Associativismo” as “School of Associations,” I advised Fabio that perhaps they should use “School of Associativism” instead of “School of Associations” because their mission and cause go beyond associations, as well as promoting the principles of associativism.

He replied: “We were adopting the brand ‘Associativism School’ but, from now on, at your suggestion, we will change it to ‘School of Associativism’. Thank you!”

Fabio added: “We believe in the strength of ‘associativism’ for the formation of more conscious citizens, for the consolidation of democracy, and for us to have better cities to live in, better countries for us be proud of.”

I have always been writing about associations contributing to nation building. I can relate to this even better now. Associativism has a deeper meaning: a doctrine of associative human action for a better society.

The column contributor, Octavio “Bobby” Peralta, is concurrently the secretary-general of the Association of Development Financing Institutions in Asia and the Pacific and the Founder & CEO of the Philippine Council of Associations and Association Executives. PCAAE is holding the Associations Summit 8 on November 25 and 26, 2020 with the theme, “Leading with Agility.” The two-day virtual event is supported by Adfiap, the Tourism Promotions Board and the PICC. E-mail inquiries@adfiap. org for more details on AS8.

Metrobank sees NPL ratio at 3% in 2020, 6% in 2021

By Tyrone Jasper C. Piad

M

@Tyronepiad

etropolitan Bank & Trust Co. (Metrobank) is expecting its bad loan ratio to reach 3 percent this year amid the economic downturn after government imposed lockdowns to contain the coronavirus pandemic.

“For the rest of the year, our guidance is that we’re looking at the possibility of hitting around 3 percent,” Metrobank Senior Vice President Jette C. Gamboa said during a news briefing last Thursday.

As of end-September, the nonperforming loan (NPL) ratio of Metrobank stood at 2.25 percent from 1.52 percent in the previous year for

the same period.

NPL coverage ratio for the period, meanwhile, improved to 174 percent from 96 percent previously.

“From what I’ve read or heard from the other players in the industry, the number that we’re all looking at ...seem to converge around the 3-percent to 4-percent level this year and around 5-percent to 6-percent

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This is the second year that the bank received both recognitions, it added.

Early this year, SCB’s Philippines office also won “Best Sub Custodian Bank” at the 2020 Global Finance Awards, their second after winning the same award in 2019. The bank said it also gar-

level next year,” Gamboa said.

Gamboa said that the bank is conducting a quarterly review of its loan portfolio to determine the provisioning level. As of end-September, Metrobank’s loan loss buffer amounted to P35.4 billion, which is five times more than the P7.8 billion earmarked last year. Still, Gamboa said that Metrobank is in a “good position,” pointing to their balance sheet strength and high capital ratios.

The listed bank’s total assets stood at P2.4 trillion in the first nine months. In the same period, its capital adequacy ratio and common equity Tier 1 were at 19.9 percent and 19 percent, respectively, which are above regulatory requirements.

Asked whether Metrobank is seeing loan growth in the fourth quarter, Gamboa said it would depend on the pace of economic recovery.

“The behavior of our portfolio is generally aligned or tied to the behavior also of the economy,” she explained.

Net loans and receivables slowed down by 13 percent to P1.2 trillion in the January-September period, which the bank attributed to the slump in economic activities.

During the same online event, Metrobank Chief Marketing Officer Herbert A. Dimagiba introduced a new type of account that can be opened via mobile application.

It offers an interest rate of up to 1.125 percent per annum and has no maintaining balance required, Dimagiba said. The digital account can be used as an investment account and allows access on all the features of a regular Metrobank deposit account.

“We have very positive outlook for digital banking as a sector. Right now, it is still too early to tell what and how quickly that’s going to pick up,” he added.

Metrobank shares inched up by 0.12 percent, or 5 centavos, amid the 2.80-percent rise for the main index on Thursday.

UnionBank open to creating separate digital unit

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N executive of Union Bank of the Philippines said the financial intermediary is open to the idea of establishing a separate digital bank in line with its financial inclusion initiatives.

In a news briefing on Wednesday evening, UnionBank Chief Financial Officer Jose Emmanuel U. Hilado, told reporters that “applying for a license for a digital bank is one of the options open for UnionBank.”

“If we do pursue that, that will be most likely dedicated for financial inclusion,” he added.

Still, Hilado said that UnionBank currently can be considered a digital bank already because of the features in its online application.

The UnionBank official said that many transactions can be accomplished via the digital platform, including opening an account, transferring money, and even depositing checks.

“So, we’ve addressed most of the pain points for clients, which is the reason why the digital banks have started coming up, right? So, in our case, we think that we are already in a good position,” Hilado said.

Shares in UnionBank surged by 1.74 percent, or P1, to close at P58.50 apiece amid the 2.80-percent uptick for the benchmark index on Thursday.

In a separate statement, the Aboitiz-led bank said that its digital

take-up has been increasing, noting that its retail digital customers reached 1.5 million in the third quarter. Of this figure, over 20 percent or 335,000 were digital accounts opened through a mobile application (app). In addition, mobile app transactions grew by nearly threefold to 3.6 million in September compared in January.

Meanwhile, corporate digital customers onboarded in UnionBank’s banking platform reached 14,500.

In an earlier interview with the BusinessMirror, the listed bank said it was eyeing to migrate all its corporate clients to the digital platform by next year.

In a news event last month,

UnionBank Vice President Antonio Miguel D. Dans said that the pain point of creating a digital platform for corporate clients is the customization, which delays the turnaround time.

To address this, UnionBank is offering packaged solutions for the clients. Dans, however, stressed that they can still customize according to their needs. Providing templates, still, has helped minimize the queries and accelerated the turnaround time to onboard, he added.

The Aboitiz-led bank saw its net earnings slip by 0.9 percent to P8.5 billion in the first nine months amid higher provisions for potential loan losses. Tyrone Jasper C. Piad

BSP holds Pera webinars To expand reach, Singlife for Pinoys IN HK, Macau PHL taps blockchain tech

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he Bangko Sentral ng Pilipinas (BSP), in coordination with the Philippine Trade and Investment Center (PTIC) in Hong Kong, conducted webinars on Personal Equity and Retirement Account (Pera) for overseas Filipino workers (OFWs) from Hong Kong and Macau on October 18 and 25.

Through PTIC’s Trabaho, Negosyo, Kabuhayan (TNK) program, Director Jose Recon S. Tano, head of Bangko Sentral ng Pilipinas’s (BSP) Pera Technical Working Group, explained how PERA can benefit OFWs and help them prepare for retirement, the statement said.

Tano also tackled Pera’s digitalization, which allows OFWs to conveniently open Pera accounts and invest 24/7, anywhere in the world, using mobile phones and other devices.

Officers from the three BSP-accredited Pera administrators also gave a walk- through on how to invest in PERA in their platforms. They discussed investor education, client onboarding, settlement of transactions and monitoring of Pera investments.

The conduct of the Pera webinar is line with BSP’s advocacy to broaden financial literacy and help Filipinos achieve financial security.

The PTIC is an agency under the Embassy of the Philippines and the Department of Trade and Industry that provides commercial representation for the Philippines to foreign countries.

The TNK, on the other hand, is a joint initiative between DTI and Department of Labor and Employment formulated to realize “Ambisyon Natin” 2040 and the 2030 Agenda for Sustainable Development through the creation of more decent jobs and the promotion of entrepreneurship.

Standard Chartered Bank PHL wins multiple industry awards unit by the Philippines office of Standard Chartered Bank Plc (SCB) won multiple industry awards for custody services in the Philippines, the bank announced recently.

The bank was recently awarded as “Highly Commended,” “Best Fund Administrator (Retail Funds)” at The Asset Awards 2020 while SCB won “Best Custodian Bank (Over-All)” globally, the bank said.

Friday, November 6, 2020 B3

nered the highest over-all score among Philippine custodian banks exceeding country and global scores in the 2019 Global Custodian Magazine’s “Agent Banks in Emerging Markets Survey.”

The bank has topped the Global Custodian Survey for two years in a row as well, SCB said. These achievements demonstrate the bank’s deep market knowledge

and capability to craft innovative securities servicing solutions, according to SCB. “We will continue to leverage on our extensive network, local expertise and global capabilities to provide highly sophisticated securities services and fund administration solutions to our clients,” Standard Chartered Bank Philippines CEO Lynette V. Ortiz was quoted in the statement as saying.

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HE Philippine unit of Singapore Life Pte Ltd. announced plans to muscle into a very large and mostly untapped insurance market through blockchain technology.

In a statement on October 29, Singapore life Philippines (Philippines) Inc. said it tied up with Hong Kong-based Galileo Platforms Ltd. to utilize the latter’s technology services.

With this, Galileo Platforms has become the first company to have its advanced blockchain platform used by an insurer as its core policy administration.

Globe Fintech Innovations Inc., provider of the e-wallet in the Philippines, was also included in the deal.

The new blockchain-driven service is important because it will make affordable insurance available in one of the region’s most under-insured countries, the statement said. The agreement comes amid a rising demand for health insurance. The country has had more than 385,000 confirmed cases with over 7,200 related deaths.

“We are very pleased to partner with Galileo Platforms to launch this radicallynew digital service to an important yet under-insured market in the Philippines,” Singlife Philippines President and CEO Rien Hermans was quoted in the statement as saying. “Galileo [Platform’s] technology is built for digital and for scale, offering easy low-cost solutions. That’s perfect for Singlife and perfect for under-insured markets such as this one.”

Galileo Platforms said its patented blockchain technology enables insurers to connect with customers, distributors, and other key players in real-time using its digital platform, providing a shared source of truth to the industry participants, and eliminating the duplication of data. It provides a low-cost platform and flexible insurance products well suited for the Philippines, where insurance penetration is among the

lowest in the region—less than 1 percent when measured by gross written premiums as a percentage of per-capita gross domestic product.

“Many insurers are struggling to become digital, constrained by legacy processes and systems. We’ve re-thought the approach to managing policies, coverage and premiums to create flexible products and straight through processing giving the customer a complete digital experience,” Galileo Platforms CEO Mark Wales said. “Our low-cost high-efficiency technology enables the whole life-cycle of insurance transactions to be completed at scale, without touching human hands.”

“With Galileo, new business quotes, pricing, digital policy issuance, commissions and claims are completed in real-time with a single, secure “source of truth” that is agreed by all parties. It’s an immutable point of reference that replaces the need for multiple copies of transactions, customer and policy records,” Wales added.

Galileo Platforms said it supports all types of retail insurance–medical, life, and general. Its technology helps insurers and customers by removing the need for reconciliations and slow back-office processes, thereby reducing cost, complexity, and errors. Its vision is to make insurance more widely available to the mass of underinsured people across Asia.

“Two or three years ago, the idea of smallholder farmers in remote corners of the Philippines taking out insurance through blockchain technology would have seemed fanciful. But that is the reality now,” said Mr. Wales, adding that medical insurance is usually one of the first types of insurance consumers buy. “Our digital technology makes insurance accessible and affordable for the mass market. What works on mobile phones across the Philippines can be replicated elsewhere in Asia and globally.”

Bernadette D. Nicolas

B4

Relationships BusinessMirror

Friday, November 6, 2020 • Editor: Gerard S. Ramos

Today’s Horoscope

Why friendships are falling apart over politics

F

By Melanie Green University at Buffalo

By Eugenia Last

Happy Birthday: You’ll pick up information readily.

An insightful view will change your perspective regarding how and where you want to live. Expanding your knowledge and experience is encouraged. Check out online courses, be resourceful and strive to map out a path that stimulates your curiosity. Don’t limit what you can do; be resourceful. You’ll find the success you desire. Your numbers are 2, 8, 16, 23, 32, 37, 45.

a

ARIES (March 21-April 19): Look for opportunities, send out your resume and market your skills. Actions speak louder than words; check out any lead you come across that allows you to use your attributes to bring in extra cash. HH

b

Antisocial media WHILE social media may have its benefits, it’s more difficult to have an in-depth, respectful discussion of issues while online. Written posts can be misinterpreted. The character limits of a tweet or post may prevent users from relaying the full complexity of their views, while the relative impersonality of online communication may make it easy to forget that there is a real person behind the screen.

Furthermore, media companies have financial incentives to keep people engaged and enraged.

Messages that are more emotional are more widely shared, thus people are more likely to see posts that fuel outrage toward the other side. Divisive content may also originate with trolls or disinformation campaigns intentionally designed to increase social division.

Identity and morality SECOND, it seems as though political issues are becoming more intertwined with individuals’ identities and sense of morality.

When being a supporter of a particular politician or party is a strong part of one’s sense of identity, it may be easier to view the other side in a negative way.

Humans have a need to belong and to be part of groups, and this “us versus them” mentality can arise even if people don’t have strong positions on political issues. Hearing a lot about politics as the election

approaches keeps people focused on these identities.

Politicians or media outlets can reinforce this sense of conflict. Politicians often attempt to draw contrasts between themselves and their opponents, sometimes by disparaging the supporters on the other side, whether it’s Hillary Clinton’s “basket of deplorables” comment during the 2016 election or Trump’s regular barrage of Twitter insults, which have included retweeting a video in which someone says, “The only good Democrat is a dead Democrat.”

Then there are the issues that are highlighted.

It’s one thing to disagree about tax policy. It’s quite another to disagree about whether certain groups deserve fundamental rights, or whether the other side supports “killing babies” or “locking kids in cages.”

When one person believes the policies and politicians supported by another person are inherently evil or immoral, it’s difficult to maintain a friendship.

Don’t forget the other 60% ON the hopeful side, the Pew survey suggests that six in 10 registered voters do have close friends on the other side of the political divide.

Just as so-called red states and blue states are all actually purple states—and contain people across the political spectrum—many Americans’ friendships remain intact, despite a stressful election cycle.

These reminders of shared affection and values may help bring the country together no matter the outcome of November’s contentious election.

THE CONVERSATION

Inspiring stories to uplift the spirits Ysabelle Sarayba, owner of an online shop that helps the Itneg community in Abra.

z

CELEBRITIES BORN ON THIS DAY: Emma Stone, 32; Thandie Newton, 48; Maria Shriver, 65; Sally Field, 74.

which political affiliations have become linked to morality and identity.

ORMER Supreme Court Justices Ruth Bader Ginsburg and Antonin Scalia were on opposite sides of the political spectrum. Yet despite their obvious legal disagreements, the liberal Ginsburg once described herself and the conservative Scalia as “best buddies.”

This connection across ideological lines may seem surprising today. A striking feature of the current political moment is the extent to which it has affected personal relationships, with friendships fissuring over political issues.

In fact, a recent Pew study showed just how deep that divide has become. The survey found that roughly 40 percent of registered voters said that they do not have a single close friend backing a different presidential candidate.

The old mantra to “never discuss religion or politics” was a recognition that political differences can create awkward social situations. And research my colleagues and I conducted found that the mere prospect of discussing divisive topics can make you feel anxious and threatened.

Yet something about our current moment seems to have put a particular strain on our personal relationships. As a social psychologist and communication researcher, I’ve noticed two key features of today’s political environment that are making friendships across the political divide challenging: the role of social media and the way in

www.businessmirror.com.ph

FACING various crises such as typhoons, earthquakes and volcanic eruptions is not a new thing for Filipinos but their resilience is currently being put to test by the pandemic.

As such, many feel some level of anxiety and fear as the number of Covid-19 cases continue to rise, living conditions deteriorate, and families and individuals suffer from economic difficulties, among other reasons.

Since most people cannot be physically present to help and spread cheer to friends and loved ones all the time, Globe is providing an opportunity to reach out to those who need emotional comfort through Hope Bank. It is a safe online space that serves as a venue for everyone to share inspiring stories and messages to uplift the spirits of those suffering from depression, stress, and other forms of mental health problems.

As part of Hope Bank, the telco launched the Kwento ng Tagumpay campaign which features real stories of individuals whose determination and perseverance enabled

them to triumph against the devastating effects of the pandemic, and allowed them to make a difference in the lives of others.

The stories encourage people to look at the positive side of things and move forward.

Jump-starting the campaign are JM Magalona, a model turned tapsilogan owner; Pocholo Gonzales, known as the voice dubmaster of the Philippines who resorted to teaching voice acting lessons online; Gela Penites, a diver and a community supporter who helped the community raise funds by building their own online shops; and Ysabelle Sarayba, owner of an online shop that sells woven materials to help the Itneg community in Abra.

“This is the first time for most of us to experience an economic recession as bad as this one, and to suffer from prolonged crisis. A lot may be feeling anxious and need support. With Hope Bank, we feel that Globe can be of help to Filipinos who are in this kind of predicament. We welcome everyone to join the Hope Bank community so that together we can spread positivity,

share triumphs amid adversity, and get our resiliency back,” said Yoly Crisanto, Globe chief sustainability officer and SVP for corporate communications.

Aside from inspiring stories, the Hope Bank Facebook Community accepts messages of positivity and hope in various forms, may it be through art, music, poetry, video, or feel-good quotes. To contribute, members can post messages using hashtag #StartANewDay both on their personal profiles and in the group.

For a long time, Globe has been an advocate of mental health and is committed to supporting the United Nations Sustainable Development Goal 3 on Good Health and Well-Being.

It has partnered with organizations like UP Diliman Psychosocial Services and New Good Feelings Mindstrong’s HOPELINE 2919 for free counseling or psychotherapy services.

More information about Globe’s sustainability efforts can be found at bit. ly/3649an3.

TAURUS (April 20-May 20): Thwart outside interference before it has a chance to infiltrate your personal or professional world. Take control, and bring about the changes you want to see instead of becoming compliant with what others push on you. HHHH

c

GEMINI (May 21-June 20): Think more about what you want and what you can do. Pick up any slack, and put your plans in motion. Distance yourself from people and practices that have let you down, and focus on what’s possible. HHH

d

CANCER (June 21-July 22): Be reasonable, stay focused and control your emotions. If you get into a battle over something you cannot change, you’ll waste valuable time. Concentrate on what you can accomplish, and look for opportunities that encourage success, not revenge. HHH

e

LEO (July 23-Aug. 22): Spend more time on self-improvement, learning new skills and updating your image. Stop worrying so much about what others think, and put your energy into reaching your goals. Be passionate about life, personal growth and romantic interests. HHH

f

VIRGO (Aug. 23-Sept. 22): Embrace change, set up new goals and gather the information to help you transition from where you are to where you want to be in the future. Don’t give in to someone putting demands on you that will stifle your plans. HHHH

g

LIBRA (Sept. 23-Oct. 22): Assess situations carefully, recognize what’s fair and go about your business. Arguing is a waste of time.

Progress comes from taking hold of a situation and dealing with matters constructively. HH

h

SCORPIO (Oct. 23-Nov. 21): Create an environment that is conducive to achieving your goals. Feeling comfortable and at ease regarding your pursuits will encourage you to be productive. Choosing a unique lifestyle will lead to personal growth, confidence and success. HHHHH

i

SAGITTARIUS (Nov. 22-Dec. 21): Home improvements look promising. Do as much of the work yourself as possible to avoid unnecessary costs. Verify information before you make a decision or hire someone you shouldn’t. Romance will brighten your day. HHH

j

CAPRICORN (Dec. 22-Jan. 19): Easy does it; don’t feel you have to jump through hoops to appease someone disgruntled. Concentrate on your objective, not what others do or say. You’ll gain the most if you implement the changes that suit your needs.

HHH

k

AQUARIUS (Jan. 20-Feb. 18): Take care of documents before they expire. Keeping up will save you from the hassle that will eat up your time. Look for alternative ways to budget for something you need or changes you want to make.

Romance and partnerships look inviting. HHH

l

PISCES (Feb. 19-March 20): Focus on creativity and innovative ideas that will make a difference. A chance to make extra cash is within reach. Partner with someone who shares your beliefs and has something to offer to help you get your ideas up and running. HHHHH Birthday Baby: You are original, intelligent and persuasive.

You are persistent and appealing.

‘clout’ by david alfred bywaters The Universal Crossword/Edited by David Steinberg

ACROSS 1 Natural balm 5 Rolaids competitor 9 Extremely eager 13 City near Cologne 14 Social call 15 Drink with a nose 16 Part of an ice sculpture’s head?

18 “I saw ___ sitting on a seesaw” 19 ___ orientation 20 Dirty stuff 22 Checker’s target, briefly 23 Long narrative poem 25 Gross-out movie measure?

27 Summer hrs. in the Rockies 30 Buddies 32 ___ & the Gang 33 “I’m impressed!”

34 O’Day or Baker 36 Iridescent gem 39 Fails in a Homeric invocation?

43 Thus 44 Wild ride at a rodeo 45 Fatal Affair star Long 46 Obsessive whale hunter of fiction

49 Baseball glove 50 Melancholy 51 Billboard promoting chain mail?

54 Faucet problem 56 Wax maker 57 Lake by the Ontario Peninsula 59 Source of bafflement 63 Too 65 Certain airport worker’s skill?

67 King David’s biblical predecessor 68 Gold bar 69 Fork part 70 What a PR blitz generates 71 Toward the rising sun 72 They’re attracted to sweets DOWN 1 Basics 2 Folk wisdom 3 Gemstone with bands 4 Happen next 5 Up to, briefly 6 Employs 7 Florida city where the Herald is circulated 8 Sounded, like an hour

9 Wonderment 10 Wordless plays on words 11 Unfitting 12 Low card 14 Courageous 17 New York’s ___ Zee Bridge 21 Boxing ref’s ruling 24 Ascend Everest, maybe 26 A ___ of One’s Own (Virginia Woolf book) 27 Partner of mean and median 28 Way in 29 “You’re busted!”

31 Violent weather 35 Eschew 37 Where most people live 38 Show the way 40 Neighborhood in London or New York 41 Beg 42 Making a production?

47 “You ___ here” 48 Doll with a Malibu variety 51 Put to shame 52 Pass along

53 Roman Artemis 55 Michelangelo work featuring Mary 58 It’s always legal to poach them 60 Profit 61 Coin source 62 City west of Cedar Rapids 64 Iberian cheer 66 Understood Solution to Wednesday’s puzzle:

Show BusinessMirror

www.businessmirror.com.ph

Editor: Gerard S. Ramos

• Friday, November 6, 2020

Sean Connery is our James Bond forever

I

N the end, the news reports said the death of Sean Connery was hastened by his dementia.

Sean Connery was dead at 90 years of age on the last day of October. That was the news, the regular news. Memory, which is greater than any news, will, of course, keep Sean Connery and James Bond alive for eternity.

In my generation, there were the Marvel Comics heroes, and there was James Bond. Or Sean Connery.

I was in elementary when he burst upon us— classmates from a local Catholic school—from the big screen in one of the moviehouses in our city. I have to stress “Catholic” because when I was older, I saw how “objectionable” the many scenes in that first film we viewed. The film was Dr. No. And we were allowed to watch it.

When historians of cinema write about censorship and control in the industry, there would be the gaps and fissures abounding in the narrative. The fact that we saw many of James Bond films long before we turned 18 was a giveaway—there was a different sense of moral gatekeeping in those years. Or could it be because the adult society then were assured we would not understand anyway the double meanings and dirty wit in James Bond films?

Let it be said that we never distinguished “James Bond” from Sean Connery, the role from the actor.

They were one and the same.

It was the first time for us to witness an action star who moved with such ease and elegance. We looked at Sean Connery as the model for good manly dressing.

Whenever our older cousins and uncles wore a suit or jacket and tie, it had to be in the manner of Sean Connery—impeccable with sleeves that did not hoist up, white shirts immaculate, and ties that were tied without sin.

He could fight without breaking a sweat. His clothes never crumpled even after jumping from walls, or kicking enemies. He knew how to handle guns and they were in that cool, cold, chilly way.

The endpoint of that gun, however, was the bad man falling without grace, and our James Bond standing tall as if no killing ever took place.

The generation that witnessed the birth and rise, and continuing rise of Sean Connery saw also the renaissance of the cowboy. But while in the person of Sean Connery his James Bond never wavered from being a dapper gentleman, the cowboy went through an inverse correlation in terms of evolution. The selfrighteous man of the Wild, Wild West became dirtier and unkempt as the years went by. Think Franco Nero as Django, think Clint Eastwood in all those Sergio Leone classics.

In the early years, no one really talked yet about the Bond Girls. That came much later to us fans from the late 1960s. It was in the late 1970s when we realized how Sean Connery always was perfect with women. He could make love to them. He could fight them as enemies, equal in strength to him. That

B5

Julie Anne San Jose

Netflix Philippines debuts ‘Rocket to the Moon’ song cover by Julie Anne San Jose

served as a tricky contribution of the Bond movies to the discourse of empowered women. The duplicity in the narrative of wily, technically adept women was in the scenes of their defeat, which always took place in the deadly embrace of Sean Connery.

Women wilted when kissed by James Bond/Sean Connery. And the feminists and critics protested.

And yet, when one talks of iconic moments in James Bond movies, it involved always the women— from Ursula Andress rising like Venus from the sea in Dr. No, to the mercilessly murderous Lotte Lenya in From Russia With Love with shoes that revealed hidden sharp spikes—a proto Wolverine, if you may.

Ms. Lenya, of course, was the better half of Kurt Weill whose songs she immortalized. Or go back to Goldfinger where Shirley Eaton has her body painted in gold.

Then there were the names of those Bond Girls: Ursula Andress was Honey Rider and there were Maud Adams as Octopussy and Honor Blackman as Pussy Galore.

Those women survived the names; more importantly, Sean Connery came out unscathed from those acts of bad or funny taste. He would go on to make seven Bond films, all making a killing in the box office. In between, he acted in a Hitchcock film, Marnie, but fans ignored that infraction. He would always be James Bond, and nothing could change that.

He continued making non-Bond films, some earning critical praise for him. He would be back in

1983 for his last Bond movie in 1983, Never Say Never Again. It is unconfirmed but people talk of the title as attributed to an earlier negative attitude fostered by Sean Connery, a mood that urged him not to act again in a Bond movie.

The Bond movies continued with different actors playing the suave secret agent. Whether people forgot about Sean Connery as James Bond can never be determined. What is true is that good actors made the role their own and Sean Connery went on to make damn good movies.

In 1986, he would win a Best Actor from the British Academy of Film and Television Arts (BAFTA) for the role of a Franciscan friar, William of Baskerville, in the film The Name of the Rose. Interestingly, the role was that of a friar-sleuth investigating deaths in an abbey.

Sean Connery would star in Brian de Palma’s The Untouchables in 1986. He would act alongside Robert de Niro, Kevin Costner and other big names but Sean Connery would more than hold his own by winning the Oscar for Best Supporting Actor the next year.

In 2000, Sean Connery received Knighthood from Queen Elizabeth II. Not bad for someone who, it has been written, was tutored by Terence Young, the director of James Bond films, on how to walk, talk, dress and eat like a nobleman in order to be Bond...

James Bond.

Sean Connery was born on August 25, 1930, and died on October 31, 2020. n

Netflix Philippines has released a song cover for “Rocket to the Moon,” the lead single of the Netflix Film, Over The Moon. Filipina singer Julie Anne San Jose sang and performed the cover, now on Netflix Philippines’s Facebook and YouTube channels.

“When I first heard about [the song cover], I got really excited since I have always been a fan of Netflix films,” shares Julie. “I’m happy and honored they chose me to do a cover of ‘Rocket to the Moon’. I hope I was able to give justice to the song and hope that fans like it!”

The magical music video features Julie singing her cover, as she’s surrounded by animation straight from Over The Moon and its colorful characters.

“The [shoot] is different from the previous music videos that I have done since this time, there is an animation component,” she notes.

“While filming, we used Chroma and I had to imagine that I was part of the movie and interacting with some of the characters of the film, which for me was the most exciting part. The fun part was that everyone was humming the song, even the most macho crew on the set.”

“Rocket to the Moon” is originally sung by Chinese-Filipina actress Cathy Ang. She also voices the lead character, Fei Fei, a young girl who builds a rocket ship to the moon to prove the existence of the legendary Moon Goddess, Chang’e.

“I admire how the song portrayed the character build-up of Fei Fei. The first part of the lyrics was full of self-doubt, then as the song goes on, you can feel the growing determination and confidence of her character,” adds Julie. “Usually, my [music] style is R&B or ballad, sometimes I do rap covers. And doing a song cover of ‘Rocket to the Moon’ brought me back to the days where I was just a kid who had big dreams.”

“I like the movie since it uses different components such as folklore and fantasy to explore and deliver values and lessons about grief life, and love. The usual notion is that if it’s an animated film, it’s for kids, but Over The Moon is also for the kids at heart,” continues Julie. “And as a Filipino, I know this movie is very relatable to us since Filipinos are known to be optimistic—that regardless of the situation we are in, we always find our silver lining.”

Over The Moon is now streaming on Netflix.

ABS-CBN game show returns

ACCORDING to legendary TV personality Merv Griffin, there are a number of elements that make a great game show. The man behind such timeless classics Wheel of Fortune and Jeopardy shared that these include: a “play along” factor and rooting value.

Play along, quite literally, means the audience should be able to play along. What a game show should deliver is a simple, yet clever and often humorous and fun way to parcipate in not only for the viewers in the comfort of their own homes but also the contestants in the actual game.

Then, there’s the rooting value. Viewers should root for a contestant even if they do not know him

or her. It’s always about the story and moments— people experience choices and ultimatums that drive emotions on a personal level. This often creates drama that viewers always latch on. Should the contestant go on to the next level and risk his pot money? Should he skip first that question which stumped him and call a friend?

Those elements are present in our very own Game Ka Na Ba? For the Gen Z, Game Ka Na Ba?, or its other iteration GKNB when it was relaunched during the texting age, was a game show hosted by Kris Aquino before Edu Manzano took over. The show ran for eight years on Philippine TV via ABS-CBN, and was a consistent top-rater as it challenging the brightest Filipino students, professionals, and even celebrities, transforming numerous winning contestants into millionaires during its run.

It was part Who Wants To Be A Millionaire, part variety dance show (sometimes), part talk show, but always fun. Of course, what made this game show iconic, besides its winning formula, were its hosts.

Edu and Kris were witty, funny, sardonic at times, and masters of this genre. It was really a treat whenever they interacted with the contestants, throwing questions at them and reacting to their answers.

Game Ka Na Ba?, now known as Game KNB, is back and the challenge of filling up the void left by Edu and Kris has been gamely accepted by Robi Domingo. The show was launched recently on Jeepney TV and on the Kumu app, and now even has an interactive format which can be played straight on mobile phones or other electronic devices.

Local viewers can take part and win special prizes by watching the game on cable channel Jeepney TV and taking part in the #TeamBahay Question of the Day through the link provided on Jeepney TV’s Facebook page.

Now the ultimate question: Does Robi measure up to Kris and Edu? For this new format adapted for the Gen Z and millennials, it’s a resounding yes. In the show, Robi exudes a certain charm and is very empathetic to his contestants. And he manages to sneak in a zinger or two, and his jokes actually make me smile as you see his earnestness. He knows he’s no Steve Harvey yet but he’s doing his darndest best.

Experience the new Game KNB? weekdays on Kumu and Jeepney TV. Download the Kumu app and follow @gknb. Jeepney TV is available on SkyCable channel 9, Destiny Cable analog channel 41 and digital channel 9.

ROBI DOMINGO

B6 Friday, November 6, 2020

PH postal service innovates via ERP Project to expedite delivery of services

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O achieve President Rodrigo Roa Duterte’s mandate to expedite the delivery of government services to our citizens as embodied in Republic Act No. 11032 or the Ease of Doing Business and Efficient Government Service Delivery Act of 2018, the Philippine Postal Corporation (PHLPost) will launch on the first quarter of next year the Enterprise Resource Planning (ERP) Project.

The ERP project, which started in 2017, will computerize and automate the whole postal system. It aims, among others, to streamline the procedures and processes in postal operations and improve the competence and proficiency of PHLPost in delivering its services to the people.

Chairman Norman Fulgencio remains steadfast: “our journey to modernize the postal system really took a while because it aims to cover the digitalization of the entire organization including the mail management system, corporate financial information system, financial counter system and human resource information system”.

Once in place, digital applications ranging from mobile to computer applications will be launched together.

This will reinforce existing strength across communications, e-commerce and financial services that would result in efficiency and convenience in delivering public service across the nation.

Fulgencio added, “We uphold our commitment to fulfill the President’s

directive to bring innovative government services to the Filipino”.

The global postal sector has been affected by the pandemic due to the reduction in capacities and volume of mails brought about by the temporary halt in transportation and restrictions of areas under quarantine.

The opening of economy and the airlines gradual recovery will keep the postal market relevant amid the challenge posed by the global health crisis.

PHLPost, however, remains undeterred and has continued to focus on achieving growth and stability, while simultaneously working on a range of

strategic initiatives to further develop, enhance and innovate its services to keep up with the advancements in technology.

At present, PHLPost relies on the sale of postal products and services to fund its operations.

PHLPost is the duly designated national postal operator in the Philippines which has the manpower and the network capability to deliver mails, goods and payment services anywhere in the country and around the world. The postal service is an active member of the Universal Postal Union (UPU), the primary forum for cooperation among global postal sector players.

Typhoon-stricken gov’t employees may apply for emergency leave

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OVERNMENT employees directly affected by the aftermath of Typhoons Quinta and Rolly may apply for a special five-day leave.

This was announced by the Civil Service Commission (CSC) as it reiterated CSC Memorandum Circular Nos. 2 and 16 issued 16 February 2012 and 17 October 2012, respectively, containing guidelines for the grant of the special emergency leave for state employees affected by natural calamities or disasters.

The special emergency leave shall be for a maximum of five (5) days in a year and non-deductible from the employee’s earned leave credits. It may be availed of within 30 days from the actual occurrence of the natural calamity for five (5) straight

working days or on staggered basis.

Said privilege may be used for any of the following: for urgent repair and clean-up of damaged house, being stranded in affected areas, disease/ illness of employees brought by natural calamity/disaster, or caring of immediate family members affected by natural calamity/disaster.

The CSC said that the special emergency leave shall be based on the declaration of state of calamity by the President of the Philippines or the Local Sanggunian in the affected area. However, in case a specific area was not declared to be under a state of calamity, the head of agency may still grant the special emergency leave based on proof or evidence to be presented by

the employee or relevant news accounts.

The CSC added that the head of agency or office shall take full responsibility for the grant of special emergency leave and shall set parameters in granting said leave like verification of the situation and extent of damage caused by the calamity to affected employees. Extension of the allowed maximum 5 days of special emergency leave shall be subject to the discretion of the head of agency and the agency’s internal policy on the matter. Agencies are urged to come up with internal guidelines in the grant of the special emergency leave.

For the complete text of CSC Memorandum Circular Nos. 2 and 16, s. 2012, please visit the CSC website at www.csc.gov.ph.

Rewards through referrals: How Filipino app PasaJob harnesses social networks and connects job seekers and companies alike

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OWADAYS, it’s common for Filipinos to tap their social network for recommendations on what food to try, which series to watch, or which music genre to explore. Beyond leisure purposes, Filipinos also use their network to seek job opportunities or for reliable workers. In fact, approaching a close contact is the method of job searching most used by the unemployed based on a survey by the Philippine Statistics Authority (PSA) in 2019.

Aside from making the search easier for the job seeker, benefits to utilizing referrals include boosting the chances of being seriously considered and a higher probability to be interviewed for the position.

Referrals also help a company open access to a base of actual job seekers and their respective network of friends, family and contacts.

Once employed, referral hires are shown to be more productive with less time spent on recruitment and onboarding as their referrer would be inclined to encourage them to go through the application process and act as a guide on the onset. In addition to a relatively smoother recruitment process, referral hires report to have greater job satisfaction resulting in a longer tenure at the company.

With all the benefits of referral hiring, it would be a no-brainer for companies to implement an employee referral program to help fill job vacancies.

However, setting up a referral program could also spell

more work for the company if it doesn’t already have an existing system in place.

It’s a match

PASAJOB provides precisely that solution. As a longchain referral-based job platform, it allows companies, job seekers, and employees to participate in a system that rewards successful referrers while matching employers to quality candidates. Unlike traditional job boards where the only allowed action is to apply, PasaJob enables users to also refer contacts that will be suitable for the role, and they’ll be given a payout if their referral is successfully hired.

By signing up with PasaJob, companies can skip the hassle of creating their own referral program by using the app to encourage referral hiring. By doing so, they immediately reap the multiple benefits from referred hires along with the pros that come from the platform such as setting a preferred referral fee, tracking the referral chains of employees, and automating the process from job posting to payout.

Using the platform also enables employers to cast a wider net as the app is publicly available so it doesn’t limit their pool to their employees’ network.

“We want to bring jobs closer to Filipinos through their networks. There will always be jobs to fill and professionals who are looking for opportunities.

This platform enables us to bridge the gap through connectors whom we reward through referral fees, an

additional income source that requires no investment,” said Kristen Mariano, founder and CEO of PasaJob. Even if PasaJob was built to connect employers with potential workers, it doesn’t have to be all work and no play. Side contests and weekly challenges, planned for the next iteration of the app, will keep users engaged and rewarded with prizes.

Drawing from experience

PASAJOB’S CTO and Co-founder Eddie Ybañez draws from his experience as the founder and former CEO of the ride-hailing app MiCab by adapting the best practice in the transport industry to PasaJob. “In order to streamline user experience on the app, we created two versions. One for the user, the job seekers and referrers, and one for the employer. This is so we can create a continuous feedback loop that will allow us to improve the app based on user insights,” said Ybañez.

Through its platform, PasaJob can help connect employers and potential employees from varied industries. A couple of sectors it has its sights on are Business Processing Outsourcing (BPO) and freelance workers as job openings in these industries have seen a spike during the lockdown.

For companies and organizations interested in utilizing PasaJob’s job referral platform, please contact info@pasajob.com for inquiries. Meanwhile, job seekers and potential referrers can download the app from Google Play and the App Store.

Global leader in CX solutions nurtures career growth and development

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N response to its clients’ demand and growth, Sitel Philippines has hired more than 8,000 associates this year amidst the COVID-19 pandemic.

The global leader in end-to-end customer experience (CX) products and solutions, has successfully launched its new recruitment marketing campaign and EVP (Employee Value Proposition) – “Learn, Lead & Grow with the Sitel Barkada” -encapsulating the group’s commitment to nurturing a company culture that provides associates the freedom to learn, grow, be themselves and have fun while being part of a workplace barkada defined by trust and a sense of belonging.

“We have been working on crafting a meaningful and truly impactful EVP since late last year,” shared Jorelle Robles, Head of Marketing and Corporate Communications for Sitel Philippines, Australia, New Zealand. “We believe a company should provide more than just financial remuneration, but rather, an integrated, balanced associate experience that offers an empowering culture, opportunities to do meaningful work, growth and development, in a safe and secure work environment.”

The new EVP, launched along with Sitel Group’s new brand message Create Connection. Value Conversation. as well as its innovative suite of services EXP+™, was created to help give Sitel associates a clearer picture of what the company prioritizes and the initiatives they are taking to improve the associate experience. As EXP+ was designed to simplify the delivery of end-to-end CX services and reinforce its commitment to its clients, the EVP is a promise to its people that even in this period of uncertainty, Sitel remains committed to strengthening its employee engagement, learning and enrichment programs.

“For the first time, Sitel Philippines is using Filipino language in a major external marketing campaign,” Robles said. “We have localized the slogans of the pillars into Filipino statements because we believe that no other language could better touch a chord among Filipinos, our main audience, that their own.”

The launch of the new EVP is a timely and relevant step that Sitel is taking for their associates who have been doing their best to continue delivering exceptional customer experiences for Sitel despite the challenges of the global pandemic.

PhilHealth releases statement on the dialysis issue

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HILHEALTH’S new management transition team is urgently working on the appropriate policy that will afford extension of coverage to patients availing of dialysis sessions beyond the 90days limit per year. It is also in consultation

with various stakeholders on the matter.

It appeals for more patience and understanding from the public as it exerts best effort to be of further help to patients needing this life-saving treatment especially at this time of the pandemic.

SMFI provides holistic approach for scholars

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M Foundation (SMFI) follows a holistic approach in supporting its scholars under the SM Scholarship Program to ensure that they reach their fullest potential.

From tuition fees to allowances, enrichment activities to exclusive job offers upon graduation, SM Foundation sees to it that its scholars are well supported and taken care of. SM scholar alumni Nino Lopez and Analiza Paltad attested to this during a recent kumustahan session with some SMFI officers.

Both Lopez and Paltad shared how the program helped them finish their tertiary education and how it honed them to become more skilled, passionate, and knowledgeable individuals through the various enrichment activities provided to them by SM Foundation.

After graduation, Paltad took advantage of the exclusive job offer she received from the job fair organized by the SM Group.

While Lopez got a work opportunity from a job fair organized by his alma matter— Asia Pacific College, an affiliate of SM. For them, these opportunities helped jumpstart their careers.

Lopez obtained BS Computer Science and Information Technology from Asia Pacific College in 2008. While Paltad finished BS in Elementary Education at the Philippine Normal University in 2005.

While in college, Lopez—the youngest of 5 siblings of two retired OFW parents whose mother later opted to sew clothes while his dad had a tricycle service—was active academically and was vice president of the SM scholars’ organization.

Twelve years in his professional life, his diligence and hard work paid off when he was hired in 2019 as senior business analyst for an enterprise project of Banco de Oro Unibank.

Today, Nino continues to be the leader both in his profession and in his spiritual calling. He is currently leading the Men's ministry and his own Men's discipleship group at CCF Muntinlupa. He is now a proud husband to Candz and doting father to Aki. His advice to scholar-applicants: “Talent will help you stay longer, but Faith in God will make you stronger. Trust God's process in our lives. We are being molded, through the help of SM Foundation, for greater things ahead of us.”

On the other hand, Paltad—whose dad is a company driver and mom is a housewife taking care of 5 children— went overseas to the Kingdom of Bahrain after her stint in the SM Group.

“What I am and what my family

SM scholar alumna Analiza Paltad.

is having now—a comfortable life— is all because of the support that SM Foundation gave while I was studying,” she said.

Her advice to the aspiring SM scholars: “Nobody is spared from the trials of life, but everyone can always find something positive even in the worst of times. Amidst this pandemic, we should not lose hope nor run out of positivity in life, especially in reaching our dreams and goals in life.”

“My parents always taught me that education is the only precious treasure that they can give to us which nobody can take away. So strive hard, with the opportunity being offered by SM Foundation - to pursue your education, seize this chance. It's a once- in-a-lifetime chance that will change your life for a better future,” she concluded.

SM Foundation, through its Scholarship program, provides deserving and qualified students with access to college education and technical-vocational studies since 1993. To date, SMFI has supported almost 5,500 scholars nationwide. The online scholarship application for School Year 2021-2022 will open on January 1 and end on February 28, 2021.

For more information about the SM College Scholarship program, visit www. sm-foundation.org and follow its social media accounts @SMFoundationInc (Facebook, Instagram, Twitter, and YouTube).

Sports BusinessMirror

Editor: Jun Lomibao

PHILIPPINE Olympic Committee (POC) President Rep. Abraham “Bambol” Tolentino says athletes and coaches will also receive a pandemic assistance on top of getting back—retroactive from July—the 50 percent that was cut from their allowances.

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HE monthly allowances of national athletes and coaches are expected to revert back to 100 percent—after they were slashed in half since July because of the Covid-19 pandemic—

starting next week, according to Philippine Olympic Committee (POC) President Rep. Abraham “Bambol” Tolentino.

Tolentino said the passing of the Bayanihan Act 2 provides for the country’s sports program that was momentarily sacrificed as government channeled funds

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to the anti-pandemic campaign.

“This is good news for our athletes who have become anxious and even lost their focus during the pandemic. With their allowances back to normal, they can now concentrate on their training,” said Tolentino, who profusely helped push for the Bayanihan Act 2 in Congress.

Tolentino said the Bayanihan Act 2 provides P180 million for the national team members allowances.

“And that’s retroactive from July,” said Tolentino, adding the athletes

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NT Tropang Giga and Barangay Ginebra San Miguel clash in one of the most anticipated games in the eliminations of the Philippine Basketball Association Philippine Cup on Friday at the Angeles University Foundation gym in Pampanga.

At stake is not only the solo leadership but also a lot of pride between two blue-chip teams that have been lording it over much of the league’s 45 seasons.

Roger Pogoy, one of the Tropang Giga’s main gunners, expects a tough fight in the 6:45 p.m. matchup especially with the Gin Kings coming from impressive back-to-back triumphs against Alaska (87-81) and Northport (112-100).

“This is a difficult matchup against Ginebra so we really need to prepare seriously. What’s important is we are ready,” the former Far Eastern University swingman told BusinessMirror.

TNT’S Roger Pogoy and the Tropang Giga take on a similarly tough Gin Kings side.

Magramo eyes KO victory vs Japanese foe

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IEMEL MAGRAMO vowed to do whatever it takes on Friday night to knockout Japanese Junto Nakatani and become the fifth reigning Filipino world champion after Emmanuel “Manny” Pacquiao, Jerwin Ancajas, John Riel Casimero and Pedro General Taduran Jr. “For the sake of God, my family and my country,” Magramo told BusinessMirror on the eve of the fight that stakes the vacant World Boxing Organization (WBO) flyweight title set before a limited crowd at the Korakuen Hall in Tokyo.

Magramo is fighting against all odds in Tokyo—an expectedly

GIEMEL MAGRAMO is all set to gorge on a piping hot bulalo meal.

raucous crowd and a panel of judges composed of Japanese.

“I really need to knock him out,” Magramo, 26, said after gorging on a sumptuous meal of Bulalo (boiled beef with vegetables) on Thursday. “But if I perform very well, I believe the Japanese judges will reward me the victory. But I’ll do everything to knock him out.”

“I am hoping to be in the circle of Filipino world champions,” added Magramo, referring to World Boxing Association welterweight champion Pacquiao, International Boxing Federation (IBF) super flyweight titlist Ancajas, WBO bantamweight king Casimero and IBF minimumweight belt holder Taduran.

Magramo weighed in 111.55 pounds while the undefeated foe Nakatani (20-0 win-loss record with 15 knockouts) tipped the scale at 111.77 pounds. The 22-year-old Japanese is taller by three-and-a-half inches at 5-foot-7 1/2.

Despite the height and reach difference, the Parañaque pug (24-1 20 knockouts) said he will use speed and timing against Nakatani.

The Japanese judges are Biney Martin (Ghana/Japan), Masakazu Murase and Masahiro Noda, while the referee is Nobuto Ikehara and fight supervisor is Tsuyoshi Yasukochi.

Team Magramo is composed of his father trainer Melvin Magramo, Toto Laurente, manager Johnny and Liza Elorde and Elorde’s son Juan Miguel, a former world title challenger.

Nakatani is coming off a technical knockout win over former world champion Milan Melindo in October last year.

The world title fight was postponed five times because of the Covid-19 pandemic. Josef Ramos

United City goes for ‘W’ No. 4 in PFL

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OMPLACENCY will be farthest from United City Football Club’s mind as the leaders stake their unbeaten record Friday a Stallion-Laguna side that wielded an aura of unpredictability in the Philippine Football League (PFL) at the Philippine Football Federation (PFF) Training Centre in Carmona, Cavite.

UCFC and Stallion meet at 8 p.m. KayaIloilo takes on a hapless Mendiola at 9 a.m. and Maharlika-Manila squarte off with the Azkals Development Team at 4:30 p.m.

“We will increase our intensity further— the way we attack, the way we build up, the way we score, and continue to play the game,” said United City Coach Frank Muescan, who cautioned his players against the Stallions who forced erstwhile unbeaten Kaya to a 1-1 draw on Tuesday night.

United City, whose core is made up of former three-time champion Ceres-Negros, is on top of the table with three straight victories in the league that is being played in a bubble environment at the PFF’s world-class facility.

Saso seeks to snap skid at Toto Classic

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UKA SASO vies in the Toto Japan Classic starting on Friday hoping to curb an alarming skid in the Japan Ladies Professional Golf Association (JLPGA) Tour in Ibaraki Prefecture.

After back-to-back victories at the NEC Karuizawa and Nitori Ladies in August that put her atop the Player of the Year (POTY) and earnings race, Saso went into a string of winless efforts and even missed the cut—her first in nine events—in last week’s Hisako Higuchi Mitsubishi tournament.

and coaches will receive the 50 percent that was cut from their allowances when the Philippine Sports Commission’s budget for the year was channeled to the pandemic efforts.

Tolentino also said each of the athletes and coaches will receive a one-time P5,000 pandemic assistance.

“The funds are now with the PSC and we expect the allowances to be back to normal on the next pay day for the athletes and coaches,” Tolentino said.

The national team members under the PSC’s

By Josef Ramos

filed graft and malversation raps before the Office of the Ombudsman against BCDA President and CEO Vince Dizon and several others over the supposed irregular deal made with MTD over the construction of sports facilities for the SEA Games.

In a 2019 audit report released on October 14 this year, the Commission on Audit (COA) stated that the BCDA gave “undue advantage” to MTD Capital Berhad, which won the contract to develop the facilities in the National Government Administrative Center (NGAC) in New Clark City in 2018.

World ranked Nasa Hataoka and Hinako Shibuno lead the cast at the Toto tournament where the 19-year-old Filipino-Japanese will be relegated as just “one of the contenders.”

But Saso expects to use those setbacks as motivation to do better in the Y160 million event at the challenging Taiheiyo Club Minori course in an attempt not only to nail her third victory and first JLPGA major and also regain the Mercedes ranking (POTY) lead from Sakura Koiwai.

While still on track for the top honors in the money race, Saso, with Y68.115 million in

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BAMBOL: NATIONAL TEAM ALLOWANCES BACK 100% care include 996 athletes, 262 coaches, 280 para athletes and 82 para coaches. The total monthly payroll is P41 million.

“It pains me and the POC, and even the PSC, to see the athletes and coaches suffer. After their historic and impressive performance in the 30th SEA Games where we emerged as overall champions, the athletes and coaches deserve nothing less,” Tolentino said.

The athletes were forced to go online with their coaches for training during the pandemic with the Inter-Agency Task Force on the

GINEBRA, TNT CLASH FOR LEAD, PRIDE

De Lima urges investigation on sports complex in Capas PPOSITION Sen. Leila de Lima urged the Congress to investigate alleged irregularities in the P8.51 billion sports facilities project for the 30th Southeast Asian (SEA) Games which disadvantageously entailed additional government spending.

In filing Senate Resolution (SR) No. 555, De Lima seeks to look into the irregularities that marred the Joint Venture Agreement (JVA) entered into by the Bases Conversion and Development Authority (BCDA) with Malaysian construction firm MTD Capital Berhad for the construction of the New Clark City sports complex in Capas, Tarlac.

“A thorough probe is warranted in the billions-peso project in order to understand the choices made by the BCDA that culminated in the deal which not only failed to comply with laws, but likewise cost the government significant public funds, considering that there are other arrangements that could promote better transparency, competitiveness, equity, efficiency and economy for the government infrastructure projects,” she said.

Reportedly, Citizens Crime Watch Association, through its president Diego Magpantay, recently

mirror_sports@yahoo.com.ph | Friday, November 6, 2020

The team is coming off a 10-0 shutout of Maharlika, a one-sided victory built on midfielder Robert Lopez Mendy and Oj Porterio’s hat tricks on Tuesday. Mike Ott, Bienvenido Maranon and team captain Stephen Schrock also scored in the rout.

Stallion-Laguna refused to wilt against Kaya to force the draw. Jhan jhan Melliza scored in the 79th minute to tie the match after Jovin Bedic made Kaya look good with a 10th-minute convertion.

Kaya dropped to a 2-0-1 won-lost-drawn record, followed by ADT with 1-2-0, Maharlika with 1-1-0 and Stallion 0-1-1. Mendiola lies at the bottom with 0-3-0. Annie Abad winnings, remains just within striking distance in the POTY race with 808.85 points, just 62.01 points behind Koiwai (870.86 points) with Ayaka Furue a far third with 626.23 points.

The road to redemption, however, appears bumpy for the International Container Terminal Services Inc.-backed ace, who will be hard-pressed to dish out her very best against the likes of world No. 6 Hataoka and No. 15 Shibuno along with Koiwai, defending champion Ai Suzuki and leg winners Ayaka Watanabe, Saki Nagamine, Erika Hara, Mone Inami, Shin Jie, Yuna Nishimura and Furue, who are all coming into the 54-hole championship all primed up.

Pogoy, who is averaging 19.8 points and 5.5 rebounds in eight games, encouraged his teammates to double their effort against a team that has a lot of energy coming from the likes of Stanley Pringle, Japeth Aguilar and Earl Scottie Thompson.

“I sacrifice a lot here for my family. We have to exert more effort and energy—that’s the basis of winning. Last time we lacked energy,” added Pogoy, referring to their 92-102 loss to Magnolia last Wednesday.

TNT and Ginebra are toting similar 6-2 win-loss records.

TNT Head Coach Bong Ravena agrees with Pogoy’s observation.

“We need to cover everyone especially Pringle, LA Tenorio, Aguilar and Thompson,” Ravena said. “We cannot set aside Coach Tim Cone’s plan—just like we respect other teams and coaches, we really respect Ginebra.”

Ravena said they should play smart from start to finish.

“You cannot take anything for granted if you’re

Management of Emerging Infectious Diseases urging the PSC to provide a bubble facility as training center.

The PSC, according to Commissioner Ramon Fernandez, is at the height of its negotiations with the owners of the Inspire Sports Academy in Calamba, Laguna, for the bubble training facility.

The Rizal Memorial Sports Complex in Manila and PhilSports Complex in Pasig City remain as quarantine and healing facility for Covid-19 patients.

facing a team like Ginebra. You have to control the game from start to finish,” said Ravena, who will rely on Bobby Ray Parks Jr., Jeth Troy Rosario and Jayson Castro.

For the Gin Kings’ grand slam coach Cone, winning their seventh game—and their third straight—is not that easy particularly against TNT. “We have to put a lot of pressure on Tropang Giga’s offensive running game,” Cone said.

“It will be a contrast in styles, and it will depend on who can execute their style better that will determine the game,” he said. “TNT has a lot of weapons we have to account for so there will be a lot of pressure on our defensive execution.”

Pringle has been amazing for Ginebra inside the Clark bubble with averages of 19.6 points, 6.2 rebounds and 3.5 assists in eight games.

“Stanley’s been absolutely playing great, but so are many others—Scottie, Japeth, Aljon [Mariano], Jeff [Chan], Prince [Caperal] and more,” Cone said.

“We pride ourselves on not being a one-man team. No doubt, Stanley’s teammates really appreciate him, but Stanley really appreciates his teammates back.”

Motoring BusinessMirror

B8 Friday, November 6, 2020

Editor: Tet Andolong

Kia brings in the hip and stylish Stonic

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Story by Randy S. Peregrino

FTER teasers and previews, Kia Philippines finally and officially launched the newest addition to its growing lineup in the country—the hip and stylish Stonic.

Meet the hip and stylish Kia Stonic in vibrant Flash Yellow color option.

Cabin layout is straightforward yet stylish.

Kia Philippines

This newest subcompact crossover is positioned to meet the young and active demands who turn their dreams into reality day-by-day and know how to have fun in the process.

The said market belongs to the broad

spectrum of adventurous Filipino buyers who do not compromise design and function.

The “Style that is Iconic” catchphrase makes this chic crossover suitable for first-time buyers and

trendy car owners who want to showcase their exquisite taste in their vehicle. Designed by no less than Kia chief designer Peter Schreyer, the European Design Language is manifested in the compact features, elegant design, sharp lines, and smooth surfaces, harmonizing with the signature Tiger Nose Grille and the stylish and heavy-duty roof rails at the top of the unit.

This subcompact crossover is

Honda raffle, Hiace promo; RSA infrastructure binge No stopping RSA

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RECEIVED news from Jose Maria Luis (Che) R. Cabotaje that Honda Cars Philippines has shacked up with Lazada, the famous online shopping platform.

The car bigwig is now on LazMall, reputedly the country’s leading ecommerce online connecting shoppers to over 18,000 leading international and local brands.

“Customers can now purchase vehicle reservation vouchers for select Honda models,” Che said. “Not only does it minimize dealership visits, but also encourages contactless transactions, reducing the risk and spread of the Covid-19.”

Reservation vouchers purchased through LazMall may now be availed at Honda’s 22 car dealerships nationwide in Pangasinan, Ilocos Norte, Baliuag, Quezon City, Manila, Greenhills, Alabang, Global City, Makati, Pasig, Shaw, Manila Bay, San Pablo, Calamba, Lipa, Rizal, Carmona, Cebu, Cagayan, Iloilo, Mandaue and Negros Occidental.

But here’s the catch: HondaLazada’s 11.11 sale this November will raffle off one All-New Honda City 1.5 S CVT. “To join,” Che said, “customers must follow Honda’s LazMall flagship store page to earn from one to four E-raffle entries from November 1-20, 2020. Raffle draw will be on November 25, 2020.”

The winner will be notified through phone call and registered mail, and will be announced through Lazada’s Facebook page and HCPI’s official web site and Facebook page.

“Through our partnership with Lazada, we are able to further expand our online presence and reach as we provide customers a more convenient and safer car purchase solution as we continuously transition to the new normal brought by the pandemic.” said Masahiko Nakamura, president of Honda Cars Philippines Inc. (HCPI).

For more details, visit www.hondaphil.com or www.lazada.com.ph/ honda-cars-philippines-inc.

Tagum inauguration

STILL on Honda, Colene Jalalon said Honda Cars Tagum has been inaugurated recently, making it Honda’s 35th full-service dealership and its fifth in Mindanao.

Erected under the business group of ANC Group of Companies, the new dealership is at Purok 1 Rizal, Canocotan, Tagum City, Davao del Norte, whose total land area of 3,200 square meters can accommodate up eight Honda vehicles for display. It is equipped with state-of-the-art facilities, offering world-class services such as preventive maintenance, general repair, body and paint, and spare parts.

You can call Honda Tagum at +639514631028, or e-mail at ppineda@ancgroup.com.

Hiace oil promo

FROM Elvin “The Big E” Luciano, this noteworthy bit of news from Toyota Motor Philippines (TMP).

“The TMP will undertake an Oil-In promo providing owners of commercially-used Hiace Commuter vans [change oil, filter services, etc.] in any Toyota dealer nationwide.

Covered by this are the school bus, UV Express, ambulance, tourist shuttle, airport shuttle, courier or delivery services.

“Commercial Hiace drivers and operators have been doing great service to the public, and we'd like to assist them, especially now that most of them need assistance to restart their operations,” said Rainnier Gregorio, TMP’s first vice president for customer service operations.

The promo is on until December 29, 2020. For more information, visit Toyota’s oil in promo Toyota Motor Philippines.

RAMON S. Ang (RSA) would not simply stop with his infrastructure binge.

After announcing the soft opening of its much-awaited Skyway 3 project in December, RSA, the San Miguel Corp. (SMC) president and chief operating officer, said this week that the Skyway Extension is now 70 percent done and also ready to open by the end of the year.

The SMC-funded P10-billion project will extend the Skyway from Susana Heights on Slex to Sucat and back and provide direct access to the elevated section of the Skyway.

It will connect the Slex and the Muntinlupa-Cavite Expressway (MCX) to the Skyway at Susana Heights, bypassing Alabang to make travel from south to north via the Skyway System seamless and much shorter.

“We are on track to deliver the northbound section of the Skyway Extension project by December, and with this, motorists from the south can easily access Makati, Manila, San Juan, Quezon City, and the North Luzon Expressway,” RSA said.

“Under normal Metro Manila conditions, you will be lucky if you can get from Slex to the North Luzon Expressway in under three hours. You would have to pass through traffic gridlocks in Alabang, Magallanes, practically the whole of Edsa, or various areas through Manila. With the Skyway Extension and the completed Skyway 3, you can get there in 30 minutes without stopping,” he added.

“Work had to stop when the lockdown was implemented,” RSA said.

“We resumed work in mid-June and because of health protocols, we had to limit the number of workers at the site.”

“But despite these challenges, our engineers and our contractors have come through. They work double-time, so we can deliver the northbound section by December,” he added.

PEE STOP

How I wish I could heed invites for face-to-face lunch dates with industry moguls but, sadly, my doctor keeps saying, “No.” I am in the vulnerable sector, he says. I miss you, guys. Thanks.

Kia Philippines

4,100mm long, 1,735mm wide, and 1,532mm high, with a 2,570mm long wheelbase. Upfront, its wellpositioned projector headlamps and LED Daytime Running Lights (exclusive to the EX variant) highlight the overall character. There’s a multifunctional storage space with 60:40 full-fold flat rear seats. Even if the seats are still upright, there’s still 325 liters of cargo space. Providing accentuation to its design

character is a two-tone color option (top-of-the-line). Inside, meantime, an 8-inch touchscreen infotainment system—compatible with both Android Auto and Apple CarPlay—provides crisp music thanks to the six audio speakers packaged as standard.

Motivation comes from a 1.4-liter dual CVVT engine generating 94hp and 99hp outputs for a fivespeed manual and a six-speed au-

tomatic transmission, respectively.

This particular engine-transmission pairing yields to a higher fuel efficiency rating.

As for safety and convenience, the Stonic is equipped with a rear parking sensor, a rearview camera with dynamic guidelines, electronic stability control, and hill start assist (all exclusive for the EX variant). Also, the 185-mm ground is high enough to provide peace of mind during the rainy days. Moreover, there’s a smart entry and push start button.

The Stonic is being offered at an introductory price of P675,000 (LX MT), P785,000 (LX AT), and P875,000 for the top-of-the-line variant. Colors available are Flash Yellow, Clear White, Extreme Blue, Prime Red, and Flame Orange.

Moreover, the Stonic comes with a five-year or 160,000-km warranty, including a 24/7 Roadside Assistance, all free for five years.

Through Kia Customer hotline, customers will have access to Roadside Assistance, which covers Emergency Towing, Personal Assistance, Minor Onsite Repair, Medical Assistance, and Information Service to secure, enjoyable, and worry-free ownership. Interested buyers may call or visit any of the 34 Kia dealers nationwide or log on to the Kia web site at https://www.kia.com/ph/ main.html.

Skyway Extension from Susana Heights to Sucat on track

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FTER announcing the soft opening of its much-awaited Skyway 3 project in December, San Miguel Corp. (SMC) President and Chief Operating Officer Ramon S. Ang said the structure of the northbound section of its Skyway Extension project is now 70 percent done and on-schedule for completion by end of the year.

The P10-billion project, which was fully funded by SMC, will extend the Skyway from Susana Heights on the South Luzon Expressway (Slex) to Sucat and back and provide direct access to the elevated section of the Skyway.

It will connect the Slex and the Muntinlupa-Cavite Expressway (MCX) to the Skyway at Susana Heights, bypassing Alabang to make travel from south to north via the Skyway System seamless and much shorter.

“We are on track to deliver the northbound section of the Skyway Extension project by December, and with this, motorists from the south can easily access Makati, Manila, San Juan, Quezon City, and the North Luzon Expressway,” Ang said.

“Under normal Metro Manila conditions, you will be lucky if you can get from Slex to the North Luzon Expressway in under three hours. You would have to pass

through traffic gridlocks in Alabang, Magallanes, practically the whole of Edsa, or various areas through Manila. With the Skyway Extension and the completed Skyway 3, you can get there in 30 minutes without stopping,” he added.

The project, which was started in late 2019, is also aimed at eliminating traffic buildup along Slex heading to Alabang and the Alabang viaduct.

Previously, from five lanes on the Slex, the expressway would narrow to just three lanes at the Alabang viaduct, causing huge traffic jams not just on the expressway, but also on public roads feeding into it in Muntinlupa and Las Piñas.

The Skyway Extension will expand capacity by adding three lanes northbound and two lanes southbound. With motorists coming from Cavite, Laguna, and Batangas able to bypass Alabang, the easing of traffic in Muntinlupa and along the Alabang-Zapote Road, is also seen.

Originally set for full completion by end of this year, the project, like all other major infrastructure projects, has been delayed by the Covid-19 pandemic.

“Work had to stop when the lockdown was implemented. We resumed work in mid-June and because of health protocols, we had to

limit the number of workers at the site. Apart from limitations on the work force, we have also had to contend with delays in the shipment of materials, due to restrictions and limitations brought on by the pandemic,” said Ang. “But despite these challenges, our engineers and our contractors have come through. They work double-time, so we can deliver the northbound section as scheduled,

by December. The southbound section will follow July next year,” he added.

Currently being done are the installation of steel girders which will support the expressway and the laying of pre-cast slabs, which will make up the road itself.

“After this, we only need to cement the gaps between slabs, and then apply asphalt. While the weather is also a factor, especially when doing finishing work, we don’t see any problems meeting our December deadline for the northbound section,” Ang said.

Apart from working on the Skyway Extension, Ang said that SMC’s infrastructure group is also almost done with the improving and reconfiguration of Skyway 1 and 2, which has allowed for the opening of an additional lane from Alabang to Magallanes, to further ensure the smooth flow of traffic.