BusinessMirror November 09, 2020 by BusinessMirror

AMID VIRUS, PHL GIR HITS ASEAN-5’S $100-B LEVEL

By Bianca Cuaresma

Monday, November 9, 2020 Vol. 16 No. 32

@BcuaresmaBM

WORLD LEADERS HOPE FOR A FRESH START AFTER BIDEN VICTORY

ESPITE the adverse impact on the economy, the global pandemic has seen the Philippines catching up with its peer nations in terms of its dollar reserves for economic turbulence. Data from the Bangko Sentral ng Pilipinas (BSP) showed that the Philippines is the last to have a dollar reserves level of more than $100 billion among the five founding members of the Association of Southeast Asian Nations (Asean), or Asean-5. The country’s gross international reserves (GIR) only exceeded the $100-billion mark in September. It rose by $1.54 billion to $100.49 billion as of end-September 2020 from the end-August 2020 level of $98.95 billion. The country’s GIR is the level of foreign exchange holdings the Cen-

P25.00 nationwide | 2 sections 16 pages |

tral Bank has during a given period. The GIR is a crucial component of the economy as it is often used to manage the country’s foreign exchange rate against excess volatility. The Philippines’s GIR has been rising significantly faster this year, as the dollar remains weak against the peso. Earlier, ING Bank Economist Nicholas Mapa said theBSP) is not busy defending the peso as it is doing well against the dollar despite the projected decline in remittances.

PRESIDENT-ELECT Joe Biden, his wife Jill Biden, and members of the Biden family, along with Vice President-elect Kamala Harris, her husband Doug Emhoff stand on stage Saturday, November 7, 2020, in Wilmington, Delaware. (AP PHOTO/ANDREW HARNIK)

Continued from A4

Maj. Gen. Robert C. Dauz, commander of the AFP’s Mechanized Infantry Division, and Tarlac Heritage Foundation cofounder Dr. Isa Cojuangco-Suntay and several members of the clergy lead the inauguration of the Philippine Army Belen and Christmas tree at Camp Gen. Servillano S. Aquino in San Miguel, Tarlac City.

ORLD leaders on Sunday cheered Joe Biden’s election as US president as a chance to enhance cooperation on climate change, the coronavirus and other problems after four years of President Donald Trump’s rejection of international alliances. Trump had yet to concede defeat, but Western and Asian allies expressed hoped for a fresh start following Trump’s “American First” trade policies, withdrawal from the Paris climate agreement and attacks on NATO and the World Health Organization. In Asia, a region on edge about the strategic ambitions of China’s ruling Communist Party, the elected leaders of Japan, South Korea and Taiwan invoked “shared values” with Washington and expressed hope for close relations. “I look forward to working with you to further strengthen the Japan-US Alliance and ensure peace, freedom, and prosperity in the Indo-Pacific region and beyond,” said Japanese Prime Minister Yoshihide Suga on Twitter. President Moon Jae-in of South Korea said he looked forward to working together “for our shared values.” Related stories on pages A5, A12. Continued on A4

CREATE, ‘21 budget bill top Senate agenda A GIFT THAT KEEPS ON GIVING. SM Supermalls gifts us the magic of Christmas as they light up their vibrant displays despite the challenges of 2020. Bringing hope, spreading cheers, reuniting families, and helping MSMEs bounce forward and recover are some of the things that Mr. Steven Tan, president of SM Supermalls, wishes to fulfill this Christmas season for the Filipinos. #SAMASAMATAYOSAPASKOATSM.

PESO EXCHANGE RATES n US 48.3500

By Butch Fernandez

@butchfBM

ENATORS resume regular session on Monday, one week earlier than the scheduled

congressional resumption on November 16, to wrap up the final version of the Corporate Recovery and Tax Incentives for Enterprises Act (CREATE) that cuts corporate income tax from 30 to 25 percent

and rationalizes existing fiscal incentives for business. This, as senators are also on track to tackle at the committee level the P4.5-billion 2021 budget bill after getting the House-approved

version in late October. “This is what’s going to happen,” Senate President Vicente Sotto III said in an interview with DWIZ over the weekend, adding: Continued from A4

n JAPAN 0.4673 n UK 63.5706 n HK 6.2367 n CHINA 7.3147 n SINGAPORE 35.8254 n AUSTRALIA 35.2085 n EU 57.1739 n SAUDI ARABIA 12.8919

Source: BSP (November 6, 2020)

News

BusinessMirror

A2 Monday, November 9, 2020

PSA on track to hitting 5-M National ID registrations By Cai U. Ordinario

@caiordinario

HE Philippine Statistics Authority (PSA) is confident it can register 5 million Filipinos in the National ID by the end of the month. On Fr iday, the PSA announced that as of November 4, around 3.315 million Filipinos completed Step 1 of the registration process for the National ID. Step 1 of the PhilSys registration involves the houseto-house collection of demographic information of select low-income household heads. This is a necessary first step in the three-step registration process. “Yes. We can register 5 million Filipinos under Step 1 of the registration process on or before the end of November,” National Statistician Claire Dennis S. Mapa told BusinessMirror over the weekend. Mapa added that the PSA is confident of completing the Step 1 registration of 9 million Filipinos by the end of the year. Based on the PSA Step 1 registration data, a total of 147,426 Filipinos were registered on November 4. This was 92.4 percent of the target. Despite this, the total Step 1 registration is already 123.9 percent of the targets for the 21-day period as of November 4.

It took PSA enumerators 4.9 minutes to register lowincome Filipinos. Each enumerator was able to register 46 Filipinos per day. Of those who were registered, 175,842 did not have any ID while 429,174 had voter’s ID. A total of 166,674 of those registered had Senior Citizen IDs; 144,743 had driver’s licenses; 134,565 had PhilHealth IDs; and 81,481 had birth certificates. Starting October 25, 2020, PSA included a question on supporting documents or valid IDs of the registrants in line with the Step 2 Registration. More than 88 percent of the registrants signified the availability of supporting documents that they can use for the next step. Set to begin this year, Step 2 is the capturing of biometric information such as fingerprints, iris, and facial photographs at designated registration centers. Step 3 is the issuance of the PhilSys Number (PSN), and the physical ID (PhilID). PhilSys aims to provide Filipinos a formal identification that can be digitally verified. It will help low-income families to open bank or e-money accounts for a more efficient and safer distribution of government assistance given the Covid-19 pandemic and in response to calamities such as Typhoon Rolly.

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Tourism body: ’20 arrivals to dip 70%, but recovery in Q3 of 2021

travel and safety protocols and coordinated restrictions, “as well as the deteriorating economic environment” as important obstacles for recovery.

stakeholders adapted to digital technology during the pandemic. “I’m excited about the digital technology, the contactless payments —how the tourism industry in the Philippines has adapted to all these challenges. When all the travel restrictions were put in place last March, we really didn’t know there was a light at the end of the tunnel, but then as we were adopting it [digitization, it] just shows how Filipinos are so resilient we’ve adapted to it.” Last September, the DOT conducted its first hybrid MICE event, with physical sellers in Bohol meeting foreign buyers online. (See, “Phitex 2020 nails P16M in travel deals,” in the BusinessMirror, September 27, 2020.)

Pandemic’s winners

Intl tourism losses

By Ma. Stella F. Arnaldo

@akosistellaBM Special to the BusinessMirror

ECOVERY in the international tourism market has been shortlived due to the reintroduction of travel restrictions in many European countries, to contain the spread of Covid-19. I n a ne w s st atement , t he United Nations World Tourism Organization (UNWTO) said demand for travel remains largely subdued due to the ongoing uncertainty about the pandemic and low confidence among tourists. Based on its latest World Tourism Barometer, UNWTO predicts an overall drop in international arrivals close to 70 percent for the entire 2020. The global tourism body’s Panel of Experts foresees a rebound in international tourism by the third quarter of 2021. But around 20 percent of experts suggest the rebound could occur only in 2022. “Travel restrictions are seen as the main barrier standing in the way of the recovery of international tourism, along with slow virus containment and low consumer confidence.” The UNWTO also noted the lack of coordinated response among countries to ensure harmonized

AS this developed, Tourism Secretary Bernadette Romulo Puyat, in an interview with the BBC’s Travel Insider series, said the Department of Tourism’s (DOT) push for domestic tourism is a “dry run to make sure that all health and safety protocols are in place,” before the country fully reopens to foreign tourists. She pointed to the rehabilitation of the environment as one of the upsides to the pandemic, citing the return of “sea creatures” in Boracay Island, closed for a six-month rehabilitation in 2018, and then from March-June due to Covid-enforced travel restrictions. Romulo Puyat also noted the speed by which the local tourism

MEANWHILE, the UNWTO Barometer showed international arrivals plunged 81 percent in July, and 79 percent in August. Both months are traditionally the two busiest months of the year for Europe being the peak summer season in the Northern Hemisphere. The cumulative decrease from January to August 2020 is equivalent to a 700-million drop in arrivals from the same period in 2019. This also translates to a loss of $730 billion (P35.3 trillion) in export revenues from international tourism. “This is more than eight times the loss experienced on the back of the 2009 global economic and financial crisis,” noted UNWTO Secretary-General Zurab Polo-

likashvili. “This unprecedented decline is having dramatic social and economic consequences, and puts millions of jobs and businesses at risk,” he warned. “This underlines the urgent need to safely restart tourism, in a timely and coordinated manner,” he added. The UNWTO reported all regions posting declines in arrivals in the first eight months of the year. Asia and the Pacific, the first region to suffer from the impact of Covid-19, saw a 79-percent decrease in arrivals, followed by Africa and the Middle East (both down 69 percent), Europe (-68 percent), and the Americas (-65 percent). Europe gradually reopened its international borders, thus registering smaller decreases in July (-72 percent), and August (-69 percent). But the global tourism body noted, “The recovery was short-lived, however, as travel restrictions and advisories were reintroduced amid an increase in contagions.” On the other hand, Asia and the Pacific, which includes the Philippines, recorded the largest declines at 96 percent in both July and August, reflecting the closure of borders in China and other major destinations in the region. The Philippines itself, saw inbound arrivals fall by 76.3 percent to 1.32 million in the first eight months to August, while visitor receipts contracted by 75.2 percent to P81.05 billion, according to DOT data.

Palace, lawmakers: Biden win’s a good thing for US-PHL ties Continued from A12

“A Joe Biden [administration] will ease the deadlock on US stimulus talks, which would positively impact the country, as the US is one of our largest trade partners, export markets, and sources of investment,” said Salceda, an economist. The Philippines may also get access to the Covid-19 vaccine under a Biden administration, he added. “Biden is likely to restore closer relations with traditional US allies such as the Philippines. Biden will likely scale back the ‘America First’ policy on global cooperation, and will return to an emphasis on multilateralism. This bodes well for the Philippines’s access to the Covid-19 vaccine, should it come from the Philippines,” he said. Salceda added the Biden administration will also be more likely to revert the US to a position of global leadership in international development, saying “there are opportunities for strengthening US-Philippine cooperation in this regard.” “Biden will also inherit from [former President Donald] Trump the US International Development Finance Corporation, a development finance institution with capital of $60 billion. Biden is likely to use this more aggressively than Trump has to compete with Chinese investment and aid in the Philippines and in Asean in general. This would allow us to get the best of both worlds, and leverage our relations with both powers to get the most favorable rates of financing,” he said. Biden, Salceda noted, is also more open to multilateral trade deals than Trump has been. “A shift from Trump’s hardline stance on trade will open opportunities for trade deals with the US. Biden will be starting from a very low base, as far as trade relations with Southeast Asia is concerned. Trump pulled the US out of the Trans-Pacific Partnership (TPP) trade pact on his first day in office. In 2019, he did not even send a senior official to that year’s Asean summit in Bangkok,” he said.

Geopolitics

O N geopolitics, Salceda said a

reinvigorated US presence in Southeast Asia under a more global-looking Biden presidency is likely to make China more inclined to be on the Philippines’s good side on West Philippine Sea issues, lest we pivot closer to the US. “This should allow us to seek more favorable terms in all resource extraction ventures in the area,” he said. On climate change and environmental efforts, the House leader said the Biden administration will likely rejoin the Paris climate accords. “As the Philippines stands to be a net financial beneficiary of the terms of this agreement, the participation of the world’s largest economy in this international effort will help the Philippines gain more from this agreement. This would also open opportunities for the Philippines to undertake such efforts as monetizing its carbon allowances in arrangements with the US and other highly industrialized polluters,” he added.

who chairs the Philippine Senate Committee on Women, Children, Family Relations and Gender Equality, congratulated Biden and Harris for “reawakening a strong sense of purpose among their voting public.” “ This momentous occasion serves as a salve over the world’s wounds from divisiveness and creeping fascism of the last few years,” Hontiveros said. “As a beacon to the world, I would like to thank the people of the United States for showing us that a full-blown authoritarian can be stopped by presenting a clear, forthcoming, and hopeful future for all.”

Stripped of power

FOR his part, Senate President Pro Tempore Ralph Recto expressed confidence that Manila’s “man in Washington DC,” referring to Ambassador Jose Romualdez, “is wellpositioned to help steer our countr y ’s interest through whatever changes a Democratic White House would bring to PH-US relations.” Recto added that “long before he allowed himself to be conscripted for foreign service, Ambassador Babe Romualdez already had enough contacts in the American capital to be considered a Beltway insider.” Recto added: “Shifting geopolitical tides, changing global trade winds, and a world devastated by the pandemic call for a nimble foreign policy that is solely dictated by our national interest, not pro-Beijing nor proBiden, but pro-Filipino. “I am confident that with Secretary Locsin at the helm of the DFA, and with a capable man in our detachment in Washington DC, what is good for our country in the diplomatic front will always be pursued and protected.

LOCAL labor leaders are hoping Biden’s victory will translate to better policies in the US. Sentro ng mga Nagkakaisa at Progresibong Manggagawa (Sentro) said result of the US election is a sign that “authoritarianism” such as that of Trump is now losing popularity again in the international community. “Trump’s defeat is a powerful warning to strongmen like Duterte —people stripped of power will not let them remain in power forever,” Sentro said in a statement. During his four-year term, Trump implemented controversial policy decisions including the US’ withdrawal from the Paris Agreement on Climate Change mitigation, tough stance on undocumented migrants, as well as engaging in a trade war with China. Sentro, however, admitted Biden’s election will not immediately translate into lasting reforms in the US especially since Trump is still supported by many Americans. “The harder task to rebuild and deepen democracy begins. With more than 70 million popular votes for Trumpism, the next necessary steps to build a wider socio-political base for radical democracy are more daunting,” Sentro said. The Federation of Free Workers (FFW) expects Biden’s presidency will, at least, lead to better treatment to workers in the US, especially as its economy reels from the effects of Covid-19. Samuel P.

Relief from fascism, divisiveness

Medenilla, Jovee Marie N. Dela Cruz and Butch Fernandez

Recto’s take

OPPOSITION Senator Risa Hontiveros,

News BusinessMirror

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Lawmaker seeks new plan for flood-control structures

OLLOWING the massive damage in Bicol due to Supertyphoon Rolly (international name Goni), a lawmaker has called for the creation of a new master plan for better flood-control structures. Beside the master plan, another solon from Bicol also said the death of 20 people after Rolly made landfall last week should be a wake-up call on the SenatetoimmediatelypasstheDepartment of Disaster Resilience (DDR). Ang Probinsyano Party-list Rep. Alfred delos Santos said the Bicol region needs a new master plan to prepare them against future calamities. “We cannot just focus on relief efforts. We should think of long-term solutions,” said delos Santos after visiting Bicol. “What we have is the old master plan. But what we need right now, as this experience has shown us, is a feasibility study for a new master plan that will take into consideration climate change and the new realities. And we need it as soon as possible so we can respond immediately and properly when calamities come,” he added. Delos Santos seeks improving the flood control structures around the Bicol River Basin and Sabo Dam. He added that the government should do its part in making sure that projects are moving and being completed for the benefit of the people. A master plan, if completed, will save not only precious government resources, but more importantly the lives of many Filipinos,

according to delos Santos. “Apart from savings, the most important benefit from the flood-control structures built under the master plan is that we can save lives. We can actually save lives by expediting this project, that’s why I am calling on the DPWH [Department of Public Works and Highways] to help us realize this project,” Delos Santos said. He said more than 400,000 people have been displaced by Supertyphoon Rolly, with Albay and Camarines Sur bore Rolly’s brunt while 30 municipalities and 180 barangays in these provinces have been affected based on government data.

DDR

WHILE the country cannot avoid typhoons that come with the Philippine geography, Albay Rep. Joey Sarte Salceda said the government can keep risks low and control the damages through the DDR. “That is resilience: being able to achieve meaningful progress despite natural and external adversities. The DDR will be the primary agency responsible, accountable, and liable for leading, managing and organizing national efforts to prevent and reduce disaster risks; prepare for and respond to disasters; and, recover, rehabilitate and build forward better after the destruction,” said Salceda. “How much human suffering do we have to endure before we pass the vital DDR Act?” he added. Jovee Marie N. Dela Cruz

Editor: Vittorio V. Vitug • Monday, November 9, 2020 A3

Steel makers to DTI: Step up vs substandard goods trade

By Elijah Felice E. Rosales

@alyasjah

OCAL steel makers have asked the Department of Trade and Industry (DTI) to step up its efforts against the manufacture and sale of substandard products after learning a new batch of unmarked rebars are being traded in Luzon provinces. In a letter dated October 26, the Philippine Iron and Steel Institute (PISI) demanded the DTI to escalate its operations in seizing substandard steel bars. The group said it uncovered another bundle of rebars with unregistered logos in Ilocos Region and Central Luzon. According to the PISI, its monitoring team bought the products in question in October from the Uniking Commercial store in La Union and Krizwood Construction Supply store in Pampanga. Further, the PISI charged Davao

Mighty Steel Corp. of manufacturing steel bars that failed to comply with standards set by the government. The group said the firm’s 10-millimeter (mm) rebars passed the tests administered by the Metals Industry Research and Development Center while its 12mm variants were found lacking in weight. PISI President Ronald C. Magsajo warned similar unmarked and, therefore untraceable, steel bars are being sold in hardware stores nationwide.

He appealed before the DTI to investigate the matter and look into the possibility of smuggling. The proliferation of substandard rebars in the market pose risks to both the lives and property of buyers, Magsajo argued. “Needless to say, we are troubled by this occurrence and persistent menace,” Magsajo said in PISI’s letter to the DTI. He added that the sale of substandard products may hurt the government’s call to consumers and firms to buy local. In July the DTI initiated its “Buy Local! Go Lokal!” campaign inviting the buying public to patronize Philippine goods so that domestic manufacturers could sustain operations and save jobs during a national health crisis. The PISI said it is committed to intensify its test-buy operations to expose manufacturing firms and retail stores sneaking substandard steel bars in the market. In October, the PISI found rebars with deficiencies in lug height and mass variation in hardwares in Central Luzon. The group alleged they were made by Real Steel Corp. and Metrodragon Steel Corp., both of which are known to employ induction fur-

nace in steelmaking. Likewise, the PISI said it obtained in its test-buys steel bars with no marked logos, whose manufacturers cannot be identified, traced and sanctioned in the event of an accident, such as the collapse of a structure. According to the PISI, the sale of substandard products not only puts buyers at risk, “it dupes them, too,” for the value for their money. In the case of low mass variation, it’s like asking the buyer to pay for a 900-gram rebar for the price of a kilo. Most of substandard steel bars failed to meet industry criteria for mass variation, bending, lug height and diameter, and tensile and yield strength. Magsajo had admitted the market for construction materials, including steel products, declined this year. The quarantine imposed by the government across the country slowed infrastructure activity in both public and private sectors, he explained. As such, manufacturers were left scrambling for whatever remains of the demand, which some exploit by flooding the market with cheap yet low grade steel, the PISI chief claimed.

Agriculture/Commodities

A4 Monday, November 9, 2020 • Editor: Jennifer A. Ng

BusinessMirror

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Export earnings from abaca hit $97.7M in H1

By Jasper Emmanuel Y. Arcalas

@jearcalas

HE value of the country’s abaca exports in the first half grew by almost 5 percent to $97.708 million from last year’s $93.194 million, latest data from the Philippine Fiber Industry Development Authority (PhilFida) showed.

PhilFida data indicated that abaca pulp accounted for 80.2 percent or about $78.324 million of the total export receipt from abaca. The value was 11.2 percent higher than the $70.451 million recorded in the first half of 2019. It was followed by raw abaca fiber, which accounted for 16.3 percent of total earnings, or $15.922 million, 3.5 percent lower than last year’s $16.499 million, based on PhilFida data. PhilFida data also showed that the volume of raw abaca fiber exports in the first half fell by 3.4 percent

to 8,012.75 metric tons (MT) from last year’s 8,293.875 MT. The United Kingdom was the top market for the country’s raw abaca fiber during the six-month period, according to the attached agency of the Department of Agriculture. The UK accounted for 55.3 percent of the total volume exported or about 4,429.125 MT, which was 8.1 percent higher than last year’s 4,095.625 MT, PhilFida said. Japan was the second-largest market for the country’s raw abaca fiber as it accounted for a fifth of the

total volume shipped in the Januaryto-June period. Raw abaca fiber exports to Japan, however, declined by 31.7 percent to 1,602.875 MT from last year’s 2,897.625 MT. PhilFida Executive Director Kennedy T. Costales earlier expressed concerns that revenue from abaca exports this year may fall by 30 percent due to the damage caused by Supertyphoon Rolly (international name Goni) to Catanduanes as well as Covid-induced market problems. Costales told the BusinessMirror he expects total abaca output

Amid virus, PHL GIR hits CREATE, ’21 budget bill top Senate agenda Angara to sponsor Asean-5’s $100-B level continued from a1

This allows the BSP to recover and gather as many dollars for its defenses as possible. Based on the data collected by the BSP, member countries of the Asean- 5—the Philippines, Malaysia, Indonesia, Thailand and Singapore—all had dollar reserves that exceeded $100 billion since 2017. Latest data shows that Singapore had the highest GIR at the end of the third quarter of the year at $328 billion, followed by Thailand’s $255 billion. Indonesia’s GIR stood at 137 billion while Malaysia’s GIR was

the closest to the Philippines’s level at $104 billion. Indonesia, Thailand and Singapore all had GIR levels above $100 million even before 2016. Malaysia’s GIR reached the $100-billion mark in 2017. In 2016, the Philippines’s GIR was at $81 billion and reached $82 billion in 2017. It then dipped to $79 billion in 2018 then recovered to $87 billion last year. In the first nine months of 2020, the country’s GIR already reached $100 billion—indicating a $13-billion rise in three quarters alone.

“November 16 was really the original [resumption] but we manifested on the last day of session that we will inform the House of Representatives that we will start November 9.” The Senate leader explained that this is allowed because they did not adjourn at their last session but simply suspended it. “We informed our counterpart in the House of Representatives that we will start on November 9. It’s a suspension, so there is no technicality there; we can suspend and then resume earlier,” he said in a mix of English and Filipino. Sotto added that, “On November 9, we have a free schedule to tackle amendments in the CREATE bill.” This will enable senators, he explained, to put final changes or additional refinements likely to be introduced during the extended period of amendments.

SEN. Juan Edgardo Angara, the Finance committee chairman, will deliver his sponsorship of the 2021 budget bill on November 10.” That means, Sotto noted, “we have one more day vacant enabling us to tackle the CREATE bill.” At the same time, Sotto allayed concerns a one-day extension may not be enough, considering the tax bill was deemed complicated by some lawmakers. Sotto recalled that the only CREATE amendments left to be tackled are those introduced by Senate President Pro Tempore Ralph Recto. The Recto amendments, however, are deemed major ones, especially the “grandfather rule” that delays the termination of existing incentives. The tax reform watchdog Action for Economic Reform (AER) called it a “killer

this year to decline by 30 percent to a 20-year low of 50,000 MT. He noted that abaca output has declined by at least 20 percent even before Rolly hit Catanduanes, the country’s top producer of the prized crop for export. The decline, Costales added, was due to Covid-induced movement restrictions imposed by different local government units, which hindered the transport of abaca (See “Rolly’ hits abaca hard, 20-year decline seen,” in the BusinessMirror, November 3, 2020).

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amendment” that strikes at the heart of the bill, and is seeking its withdrawal. According to Sotto, if senators can finish on Monday afternoon the period of amendments, “we can approve it on second and third reading because it was certified urgent.” Despite the complications, Sotto held out a strong “chance” they can agree on the amendments, and vote on them. He recalled that the House of Representatives already approved its version of the CREATE bill, which means the two chambers can opt to promptly convene a bicameral conference committee to wrap up a final reconciled bill for signing into law by President Duterte. Sotto said CREATE was one of the issues clarified during his recent talk with Speaker Lord Allan Velasco. “We told them, as there are several key amendments, as early as now, if they can review them. Because if the

Department of Finance approved our amendments, perhaps they can adopt them. They agreed to review them right away,” said Sotto, adding there was also a “possibility” the House may opt to adopt the Senate version. Moreover, the Senate leader is optimistic that apart from the 2021 budget bill, the senators would also be able to move other priority bills. He said he and Majority Leader Juan Miguel Zubiri had said that, based on the schedule they drew up with the chairman of the Committee on Finance, Angara, “we should be done by last week of November, and can enter into bicameral talks. If we start bicam first week of December, that means we have two weeks of a lull. In other words, we can also tackle other pieces of legislation, including CREATE, if we don’t finish it [this week]” Sotto added.

World leaders hope for a fresh start after Biden victory Word of the victory in Pennsylvania that pushed Barack Obama’s former vice president past the threshold of the 270 Electoral College votes needed to take over the Oval Office spread around the globe, sparking celebrations. There was no immediate official reaction from Beijing, which is mired in conflicts with the Trump administration over trade, security and technology. But Chinese social media users welcomed the change. A post on the Sina Weibo microblog service, signed Gong Teng Xin Yi, said, “Congratulating Biden, the old friend of Chinese people on winning the election.” After Trump said he won “by a lot,” the Communist Party newspaper People’s Daily responded on Twitter, “HaHa.” President Tsai Ing-wen of Taiwan, the self-ruled island Beijing claims as part of its territory, expressed hope to “further our friendship.”Biden had congratulated Tsai on her reelection in January, saying Taiwan is “stronger because of your free and open society.” Washington has no formal relations with Taiwan, but Trump raised the profile of informal contacts by sending Cabinet officials to the island, an act that irritated Beijing. There also was no immediate reaction from Russian President Vladimir Putin, who was friendly with Trump. Other leaders who supported Trump, including President Rodrigo Duterte of the Philippines, congratulated Biden, indicating they rejected Trump’s claim the election wasn’t over. Most Western allies welcomed a fresh start with Washington. Many have been dismayed at Trump’s criticism of decades-old military and economic alliances. “We want to work in our cooperation for a new trans-Atlantic beginning, a New Deal,” said German Foreign Minister Heiko Maas on Twitter. Others expressed hope Biden might revive cooperation on health, climate and other issues following Trump’s rejection of the proposed Trans-Pacific Partnership trade agreement and pressure on Canada, Mexico, South Korea and other partners to renegotiate trade terms. “I look forward to working with President-elect Biden, Vice President-elect Harris, their administration, and the United States Congress as we tackle the world’s greatest challenges together,” Canadian Prime Minister Justin Trudeau, who was the target of personal insults by Trump, said on Twitter. Prime Minister Scott Morrison of Aus-

tralia told reporters he looked forward to a “great partnership” with Washington. He cited challenges including the coronavirus and “ensuring a free and open”Indo-Pacific region, a reference to China’s disputes with its neighbors over control of vast tracts of ocean. “American leadership is indispensable to meeting these challenges,” Morrison said. Prime Minister Imran Khan of Pakistan said he looked forward to working together to end illegal tax havens and on peacemaking in Afghanistan. Other leaders who sent congratulations included German Chancellor Angela Merkel, French President Emmanuel Macron and Egyptian President Abdel-Fattah el-Sissi. Embattled Venezuelan President Nicolas Maduro and his US-backed rival, Juan Guaido, both congratulated Biden and Vice President-elect Kamala Harris. Maduro said Venezuela, which is under crippling US sanctions aimed at forcing him out of office, was “ready for dialogue and understanding” with the United States. The election outcome drew mixed reviews in Iraq, where Biden is remembered as a champion of the US invasion in 2003. Still, Iraqi President Barham Salih described Biden as a friend and trusted partner. In Iran, where the economy has been choked by US sanctions, senior Vice President Eshaq Jahangiri wrote on Facebook, “The era of Trump and his warmongering and adventurist team is over.” The newspaper Resalat published images of Trump without a mask against the coronavirus and Biden with a mask, and said, “Maskless enemy left, masked enemy arrived.” Congratulations also poured in from leaders who got along with Trump but ignored his claims the election wasn’t over. The Philippines’s Duterte, who had said Filipino-Americans would “get the best deal with Trump,” expressed hope for enhanced ties based on “shared commitment to democracy, freedom and the rule of law.” Crown Prince Mohammed bin Zayed Al Nahyan of the United Arab Emirates, who was close to Trump’s son-in-law, Jared Kushner, extended his best wishes to Biden and Harris on Twitter. Indian Prime Minister Narendra Modi, who has been known for public displays of bonhomie with Trump, shared a photo of himself with Biden

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and offered his congratulations“on your spectacular victory!” British Prime Minister Boris Johnson, another Trump ally, said he looked forward to“working closely together on our shared priorities, from climate change to trade and security.” Harris’s inspired calls in parts of Africa for more women in government. “The time has also come to give our women the chance to occupy such a high office in our country and even the number one position,” said a Nigerian Cabinet minister, Festus Keyamo, on Twitter. Others expressed hope Biden will help to heal divisions in American society and global politics. “He seems open to accepting people’s different viewpoints and wants to move forward in a united manner,” said Mika Goto, a nursery school employee in Tokyo. While outspoken disappointment was scarce, several prominent leaders who have maintained warm relations with Trump’s administration kept silent. That included President Jair Bolsonaro of Brazil and Crown Prince Mohammed bin Salman of Saudi Arabia. Mexican President Andres Manuel Lopez Obrador said he would wait “until all the issues are resolved.” Israeli Prime Minister Benjamin Netanyahu, whose Twitter profile photo shows him sitting beside Trump, described Biden as a friend of Israel and said he looked forward to working with him and Harris to “strength the special alliance” between their countries. In a separate statement, he thanked Trump for raising US-Israeli relations to“unprecedented heights.” Many people, particularly in nations with turbulent politics, took Biden’s win as improving the outlook for respect of democracy. Among them was Tanzanian opposition leader Zitto Kabwe, who was arrested and charged with terrorismrelated offenses after his country’s bruising presidential election. “This victory symbolizes the hope for democracy at a time when many other parts of the world are seeing that light diminishing,” Kabwe said. The outcome inspired disbelief in Slovenia, the homeland of first lady Melania Trump. Prime Minister Janez Jansa was the only leader who congratulated Trump even before all votes were counted and showed support after Biden’s win was announced. AP

The World BusinessMirror

Editor: Angel R. Calso

Biden announces 12-member task force for Covid response

resident-elect Joe Biden said he would appoint a 12-member coronavirus task force on Monday, his first step toward fulfilling one of his biggest campaign promises—to mount an effective response to the pandemic that has infected millions and damaged the US economy. “I will spare no effort, none, or any commitment, to turn around this pandemic,” Biden said on Saturday, as he delivered his victory speech in Wilmington, Delaware. The panel will convert his coronavirus-fighting plan into an “action blueprint” that “will be built on a bedrock of science,” he added. The task force will be co-chaired by former Surgeon General Vivek Murthy, former Food and Drug Administration Commissioner David Kessler and Marcella Nunez-Smith, a professor of public health at Yale University, according to a person familiar with his plans. It will also include Eze-

kiel Emanuel, a former Obama administration health adviser. The co-chairs of the task force are scheduled to brief Biden on Monday after the members are announced. Biden has promised a much more muscular response to the pandemic than he says President Donald Trump has made. The virus has infected 9.8 million people in the US and killed more than 237,000 people as daily case counts continue to rise. Kessler and Murthy were deeply involved in guiding the Biden campaign’s plans for responding to the virus, briefing Biden regularly, helping develop policy and helping top officials organize safe campaign events. Biden’s plan calls for increased testing capacity, funding for businesses and schools to reopen safely and eventually a vaccine distributed equitably and for free. Bloomberg News

Trump rejects election outcome

onald Trump rejected the outcome of the 2020 election and promised further legal challenges as Democrats and liberal groups celebrated Joe Biden’s victory. Trump, who was at his golf course in Northern Virginia when the race was called, issued a statement continuing to attempt to undermine the legitimacy of the election with unfounded accusations of widespread voter fraud. “This election is far from over,” Trump said. “Joe Biden has not been certified as the winner of any states, let alone any of the highly contested states headed for mandatory recounts, or states where our campaign has valid and legitimate legal challenges that could determine the ultimate victor.” Networks and the Associated Press called the race on Saturday after Biden won Pennsylvania. Biden’s Twitter account was swiftly updated to identify him as the “president-elect.” “I am honored and humbled by the trust the American people have placed in me and in Vice Presidentelect Harris,” Biden said in a statement, referring to his running mate, California Senator Kamala Harris. Harris’s husband, Doug Emhoff, tweeted a photo of him embracing his wife. “So proud of you,” he wrote.

Not over

Trump’s allies, led by his attorney Rudy Giuliani, held a news conference in Philadelphia, where they complained that Trump’s supporters were unable to observe ballot counting as closely as they wanted. “Wow! All the networks,” Giuliani said after all major networks had called the race. “We have to forget about the law —judges don’t count! All the networks! All the networks! Don’t be ridiculous. Networks don’t get to decide elections, courts do.” People around Trump said they think the president will concede at some point. But advisers are split on how far to take the legal fights. Some of Trump’s supporters in the House stood by him. Representative Jody Hice of Georgia, a Republican, blamed the media: “The mainstream media—on behalf of their Democrat pals—are trying to convince the American people this is already over.” “It’s not,” Hice added. But GOP leaders in Congress were largely silent. Senate Majority Leader Mitch McConnell of Kentucky last tweeted on Friday, saying: “Every legal vote should be counted. Any illegally-submitted ballots must not.” Senator Mitt Romney, the Utah Republican and outspoken Trump critic, congratulated Biden and Harris, tweeting: “We know them both as people of good will and admirable character.” Maryland Governor Larry Hogan, a Republican who has been critical of Trump’s response to election results, also congratulated Biden in a tweet and described him as “president-elect.” “Everyone should want our president to succeed because we need our country to succeed,” Hogan said. “We have great challenges ahead of us as a country. Now more than ever, we need to come together as Americans.”

Celebrations erupt

Spontaneous celebrations erupted on the streets of cities including New York, Washington, D.C., and Los Angeles after news organizations called the race over. There were cheers and honking horns across New York City, including outside Trump Tower on Fifth Avenue in Manhattan. A large crowd gathered outside the White House. Several could be seen drinking champagne while throngs of people cheered and cars honked in celebration. At the Capitol, dozens of Trump supporters bearing flags and other gear marched around the grounds. The group chanted “America First” and “Stop the Steal.” Biden supporters heckled the marchers, shouting “Bye!” and occasional epithets. Some marchers stopped at the foot of the Capitol for a prayer vigil; few would speak to a reporter. “Even if he does lose fair and square, I’d like to show my support,” said a D.C. area resident who identified himself as Pat. He said that an investigation into the election ballot count was necessary to stop unrest. The US Chamber of Commerce, the largest business-lobbying group, congratulated Biden and said it stands ready to work with his administration and leaders on both sides of the aisle. Chamber Chief Executive Officer Thomas Donohue said: “It is important to complete the election process by fully counting every vote and resolving any disputes. At its core, our democracy relies on trusting the American people to make a decision and placing confidence in the systems in place to determine election outcomes.” Former President Barack Obama said in a statement that Biden would represent Americans interests regardless of whether they supported him, and encouraged people to give him a chance. Obama called on Americans to “to reach out beyond our comfort zone, to listen to others, to lower the temperature and find some common ground from which to move forward, all of us remembering that we are one nation, under God.”

‘New day’

House Speaker Nancy Pelosi, a California Democrat, said in a statement that Biden’s victory “marks the dawning of a new day of hope for America.” Former Vice President Al Gore said Biden’s victory “marks the beginning of a new commitment to self-government by, of and for all of our people.” Ben Jealous, president of the liberal group People For the American Way, said Biden’s victory “affirms the people’s commitment to our core values under the most trying of circumstances.” “Americans have soundly rejected the bigotry and divisiveness of the Trump years and chosen leaders who stand for opportunity and dignity for all people,” Jealous said. Cedric Richmond, a co-chair of Biden’s campaign, called the result “a great sense of relief.” “Relief that we did it, that we won. Relief that the country will head in a better direction,” Richmond said. Bloomberg News

Monday, November 9, 2020

World leaders welcome Biden win as they seek reset in US ties

orld leaders welcomed Joe Biden’s election win with many hoping the Democratic US president-elect will spur a reset in ties, bringing a renewed focus on global issues like climate change and a more collaborative approach to tackling the coronavirus pandemic. In his four years as president, Donald Trump upended decades of accepted American foreign policy. He criticized longstanding allies in Europe, withdrew from international agreements and organizations, and set aside human rights concerns to cultivate ties with more authoritarian leaders in Saudi Arabia, Hungary and Turkey. Former Vice President Biden, meanwhile, promised a more multilateral approach, leveraging relationships with allies in Europe and Asia. Even so, he’s expected to continue a tougher line on trade matters and will need to balance public sentiment at home, which is for America to stop shouldering so much of the burden for global defense. Here’s a roundup of the key reaction around the world so far:

Germany

Chancellor Angela Merkel said she looked forward to working with Biden. “Our transatlantic friendship is indispensable if we are to face the greatest challenges of our time,” she said in a statement posted on Twitter by her spokesman. Foreign Minister Heiko Maas called for a fresh start for transatlantic ties—what he called a “New Deal.” “Joe Biden made clear during the campaign that he sees the global strength of the US in team play and not going it alone. We also want the west to play as a team again,” Maas said in a statement. “Only that way can we make our common values felt in the world, only then can we have the necessary clout.”

China

China is likely to face a stronger stance from the US under Biden on human rights issues and for its crackdown on Hong Kong. But state media focused their initial reactions on Trump, rather than Biden. Trump has made repeated references to voter fraud, without providing significant evidence, and has said he plans to fight on via the courts. Hu Xijin, editor-in-chief of the state-run Global Times, said Trump’s actions could continue to reverberate. “Given his unique personality, and mobilization capability that other defeated candidates don’t have, if he rejects this result and sticks to this attitude to the end, it will have farreaching impact,” Hu said on Twitter. Meanwhile the People’s Daily had a bit of fun with Trump’s claim to have won the election by a large margin.

Canada

Prime Minister Justin Trudeau, who had an at-times prickly relationship with Trump, including on trade, spoke of the “extraordinary relationship” between the countries in his statement congratulating Biden and Vice President-elect Kamala Harris. “We will further build on this foundation as we continue to keep our people safe and healthy from the impacts of the global Covid-19 pandemic, and work to advance peace and inclusion, economic prosperity, and climate action around the world,” he said.

British Prime Minister Boris Johnson cited shared priorities including climate change, trade and security in sending his congratulations to Biden. He also acknowledged the election of Harris as the first woman, the first Black person and the first IndianAmerican as vice president.

Iran and the Middle East

Supreme Leader Ayatollah Ali Khamenei called the election a “spectacle.”

“Regardless of the outcome, one thing is absolutely clear, the definite political, civil, and moral decline of the US regime,” he said on Twitter. The Trump administration withdrew the US from the 2015 Iran nuclear accord and imposed sweeping sanctions to try to force Tehran to accept a tougher deal that also limits its missile program and ambitions in the Middle East. Biden has indicated he may seek to rejoin the pact. The president of Iraq, Emir of Qatar and Abu Dhabi Crown Prince Mohammed bin Zayed—defacto leader of the United Arab Emirates—all sent their congratulations to Biden. But there was no statement from Israeli Prime Minister Benjamin Netanyahu, who arguably was one of the biggest beneficiaries of the Trump administration’s foreign policy. Trump repeatedly broke with US precedent to boost Netanyahu’s nationalist agenda, recognizing Israeli sovereignty in the Golan Heights and moving the American embassy to Jerusalem. There was no comment so far from the leaders of Turkey or Saudi Arabia, who also had cozy ties with Trump and whose nations may face renewed scrutiny or even sanctions under the Biden administration.

France

Pr esid en t Emmanuel Macron called on the incoming American administration to “work together” with France. “We have a lot to do to overcome today’s challenges,” he said on Twitter.

NATO

Secretary-General Jens Stoltenberg called Biden a “strong supporter” of the defense grouping, which found itself under fire from Trump for insufficient contributions from member states aside from America. “A strong NATO is good for North America and good for Europe,” he said in a statement. “We need this collective strength to deal with the many challenges we face, including

a more assertive Russia, international terrorism, cyber and missile threats, and a shift in the global balance of power with the rise of China.”

European Commission

Commission chief Ursula Von Der Leyen said a renewed partnership was of particular importance given current global issues including the Covid-19 pandemic. “ The European Commission stands ready to intensify cooperation with the new Administration and the new Congress to address pressing challenges we face,” she said in a statement.

India and Asia

Prime Minister Narendra Modi focused on Harris as a source of pride for Indian-Americans, calling the incoming vice president “path breaking.” Australian Prime Minister Scott Morrison spoke of “shared values” in the US-Australia alliance as he congratulated Biden and Harris. The US has sought under previous administrations to bring more countries together in Asia to counter China’s military and economic clout. Australia has found itself increasingly in China’s crosshairs also on trade. Japanese Prime Minister Yoshihide Suga spoke in turn of strengthening the US-Japan alliance under Biden; Trump had periodically mused about forcing Japan to pay more for the American troops housed on its soil. New Zealand Prime Minister Jacinda Ardern said her country would work “side-by-side” with the Biden White House.

Argentina and Latin America

Pr esiden t Alber to Fernandez praised the American people for the record voter turnout, calling it a “clear expression of popular will.” The leaders of Chile and Columbia also sent congratulations, with both singling out the environment as a key area for renewed cooperation. Bloomberg News

Suu Kyi party favored to win Myanmar vote

ANGON, Myanmar—Voting was underway in Myanmar's elections on Sunday, with the party of Nobel Peace Prize laureate Aung San Suu Kyi heavily favored to retain power it had wrestled from the powerful military five years ago. More than 90 parties are competing for seats in the lower and upper houses of Parliament, while there are also elections at the state and regional levels. With the opposition in disarray, Suu Kyi, who is the nation's leader with the title of state counselor, remains Myanmar's most popular politician. But her government has fallen short of expectations, with economic growth doing little to alleviate widespread poverty and a failure to ease tensions among the country's fractious ethnic groups. There are more than 37 million people eligible to vote, including 5 million firsttimers. Fear of the coronavirus and safety measures put in place to contain it may hurt voter turnout. Traditional campaigning was severely limited by social distancing and quarantines in some areas.

Suu Kyi, 75, cast her ballot late last month in the capital Naypyitaw, as citizens 60 years of age and over were encouraged to vote in advance, as well as those who were forced by the coronavirus to stay away from their home constituencies. Voters in the country's biggest city, Yangon, lined up early outside polling stations. "We need someone to lead our country like we have a leader in our home," said Susil Chand, who is in the paper-selling business. "Thus, today voting is crucial as a chance to get a good leader for us." Suu Kyi's party, the National League for Democracy, won the last elections in 2015 in a landslide, ending more than five decades of military-directed rule in the country. Her party's main challenger, as it was five years ago, is the military-backed Union Solidarity and Development Party, which has led the opposition in Parliament. The ability of Suu Kyi's administration to run the country has been hamstrung by a clause in the 2008 army-drafted constitution giving the military 25% of the seats in

Parliament, allowing it to block constitutional reforms. The Election Commission said it would begin to announce results Monday morning. But it may take up to a week to collect all the votes, some of which will come from remote jungle areas. With little sign of major interest in policy debates, the vote is seen as a referendum on Suu Kyi's leadership. "There is no major party really putting an alternative, a credible alternative, forward," Yangon-based political analyst Richard Horsey said, explaining part of the reason Suu Kyi's side has a winning hand in Myanmar's heartland, where its ethnic Burman majority lives. Even more important for the ruling party's prospects, he said, is "the personal support, even love, that many people have for Aung San Suu Kyi herself, almost irrespective of how the government administration performs, how the economy performs and so on." The love does not extend to the borderlands, the states occupied by the myriad eth-

nic minorities who have been seeking greater political autonomy for decades. Suu Kyi's ambitious plans to reconcile with the minorities have foundered. Their grievances have frequently erupted into armed rebellion, posing major threats to national security. The ethnic political parties in 2015 had cooperated with Suu Kyi's party on a constituency by constituency basis to ensure victory against candidates from the Union Solidarity and Development Party. But this year, the ethnic parties, disappointed with her failure to reach a deal to expand their political rights, will be supporting only their own candidates. The Election Commission caused major controversy when it canceled voting in some areas where parties critical of the government were certain to win seats. The commission blamed armed insurgency, but critics said the agency was carrying out the NLD's bidding. More than 1 million people are estimated to have been disenfranchised. AP

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Communicating with remote employees

PR Matters

By Kane Errol C. Choa

Events: BaiCon InFest is the First and Biggest Virtual Gathering of Creators in the Philippines

MANILA, PHILIPPINES—Over 80 creators and influencers invaded the digital space last October 23 to 24 for BaiCon InFest, the Philippines’s first and biggest virtual gathering of online personalities. The event, which was aptly themed as “Space Invasion,” was streamed via multiple digital platforms namely Facebook Live, TikTok Live, Kumu, and Zoom, making it a purely digital event that showcased 106 creators and audiences across the country were able to access it for free. Organized by the Republiq Group of Companies (RGC) and the Creator and Influencer Council of the Philippines (CICP), BaiCon InFest seeks to send an important message to the netizens, especially in the midst of this global health pandemic. “The world needs us to be physically distant from one another and the Digital Space or the Internet is the only way for us to stay connected today. Since everyone is online, we need to promote the responsible use of social media now more than

OBODY foresaw a health pandemic to hit the world this year. Governments and private institutions were caught off-guard. What systems were in place to respond to such a crisis that would change people’s lives? When the Philippine government implemented the enhanced community quarantine in Luzon to fight and contain the spread of the deadly Covid-19 virus, people grappled with the new realities of work or study from home, faced sleepless nights over uncertainties about their future, and continuously searched for information to protect themselves and their families. Justin Irons, a millennial who works at a media company, shared that one of the things that kept him awake at night was the impact of the pandemic on the company as he started reading news reports about business closures and rising unemployment. “When the pandemic first hit the country, my primary concern was the state of our company’s business. I wanted to ask my employer if the crisis would directly affect my job. I was worried [about becoming] one of those...displaced

ever. Through the event, we want to tell everyone that every comment, every upload, every tweet can create an impact on someone. We all have the power of influence, so let’s use that responsibly,” shared Bea Alfar Evardone, creative lead of BaiCon InFest and COO of RGC. The two-day event started with the TrueID Click, an online pitch party for aspiring creators and influencers that allows them to share their content ideas in exchange for a grant worth P100,000 to kick-start their content creation journey. It was then followed by the official launch which was hosted by Inka Magnaye, Gino Quillamor, and Bogart the Explorer. The launch showcased talent performances and creator appearances from Mikey Bustos, Wil Dasovich, Kimpoy Feliciano, Marvin Fojas, Macoy Dubs, Davao Conyo, Alem Garcia, Issa Perez, Luigi Pacheco, Kyo Quijano, Rozel Basilio, and more. The second day started with an opening talk by Alodia Gosiengfiao, “Gaming is a Real Sport,” and was followed by a talk on “The Future of Travel Content and the Creators’ Role in Travel today” with Wil Dasovich and Haley Dasovich. The morning session ended with a panel discussion on “Why the Cancel Culture is Toxic AF and How to Rise Above It” with Macoy Dubs, Davao Conyo and Deedee Villegas. The afternoon session was designed to have an entertaining

by the pandemic,” he said. With information and disinformation spreading so fast on social media or chat groups, it was important for organizations to communicate regularly with their stakeholders to address their concerns and keep them abreast of the latest health bulletins and internal developments. “I find myself checking my e-mails more often during this pandemic. Organizational announcements matter to me now,” said Justin. “Unlike before, I constantly visit our company’s social network Yammer for updates. I felt FOMO [fear of missing out], especially because I work remotely and did not want to miss any news about our company’s status amid this pandemic.” Justin’s concerns and constant search for company information were no different from many employees. A survey conducted by Ragan Communications, in conjunction with PoliteMail, in July 2020 among corporate communicators in the US showed that employees are concerned about their employment, and they want to hear the state of their business from their leaders. It revealed the four most popu-

and educational track. The entertainment sessions, which were hosted by creators Jen Barangan and Shaine Buhat, were streamed on Facebook, TikTok Live, and Kumu and featured fun content with Shine Kuk, Haidee and Hazel Quing, Christine Samson, Malaya Macaraeg, Echo Calingal, Kyo Quijano, Luigi Pacheco, Rozel Basilio, Enchong Dee, Alem Garcia, Issa Perez, Rigel Thomas, Steffi Jardin, Sarah del Mar, David Wilde X, Kimpoy Feliciano, Angie “Anghet” Cayetano, Ali King, Alec Kevin, Mikey Bustos, and JMKO Music. The educational sessions, which were accessed via Zoom and Kumu, featured sessions on content creation and influencer marketing. The sessions were hosted and moderated by creators like Michelle Dy, Celle Lace, Johnn Mendoza, Chinkee Tan, Rei Germar, Carlo Ople, David Guison, KC Canlas, Erwan Heussaff, Mark del Rosario, Ruby Ibarra, Jhelo Cristobal, Jr Estudillo, Juliamica, Jessica Lee, Laurie Lee, Marvin Fojas, Raine Matienzo, Lyqa Maravilla, Dani Barretto-Panlilio, Xavi Panlilio, and Tara Merced-Bontol. The two-day event capped off with the first CICP Spotlight Awards, an awards program that aims to recognize creators, influencers, brands, and agencies who have raised the standards in content creation and influencer marketing. Nominees were determined through a public nomination which garnered more than 12,000 counts across categories. Awards were

lar internal communications tools used in various companies, namely e-mail (93 percent), video or virtual meetings (83 percent), the intranet (41 percent), and internal, chat, and real-time messaging tools at 34 percent. While e-mail has always been the most used communication channel, the survey showed an increased usage compared to preCovid periods. In a recent webinar, Michael DesRochers, founder of PoiliteMail software that provides e-mail analytics for Microsoft Outlook, shared some tips on keeping remote employees engaged with email communication. DesRochers advised communication professionals to keep e-mails brief, which can be read in less than two minutes, in order to achieve higher read rates. The “sweet spot,” he said, is 500 words. If it goes beyond, the read rate declines. Other helpful tactics shared by DesRochers include sending emails with only one to two links, putting more visuals to increase read rates, and establishing a fixed time and day of the week in sending out routine e-mails. Interestingly, he shared that e-mails sent early in the week,

given based on three categories— Category Champions, Platform Superstars, and Premium Awards. Below is the list of awardees for the first CICP Spotlight Awards: Platform Superstars n Twitter Superstar: Macoy Dubs n Instagram Superstar: Rei Germar n Tiktok Superstar: Niana Guerrero n Facebook Superstar: SB19 n YouTube Superstar: Alex Gonzaga Category Champions: n Beauty and Make-up Champion: Michelle Dy n Levi’s Fashion Champion: Heart Evangelista n Food Champion: Forkspoon Manila n Lifestyle Champion: Solenn Heussaff n Parenting and Family Champion: Kramer Family n Travel Champion: Wil Dasovich n Gaming Champion: Alodia Gosiengfiao n Tech Champion: Liz Tech n Entertainment Champion: Ranz Kyle and Niana Guerrero n Education Champion: Lyqa Maravilla Premium Awardees: n Rising Creator of the Year: Marvin Fojas n Innovator of the Year: Oliver Austria n Creator of the Year: Mimiyuuuh

between Mondays to Wednesdays, have a higher readership than those sent on Thursdays and Fridays. There is a way to measure emails. It would help internal communication professionals understand the kind of information employees are looking for and how they use it. Meanwhile, the study showed an increase in the use of internal social networking channels, with 83 percent of the respondents saying they were using them more now than before. As people spend more time on social media, it makes sense for companies to explore using these channels apart from the traditional and existing communication tools. A study by the World Economic Forum reported that Filipinos spent an average of four hours and one minute on social-media networks every day in 2019, which was almost twice the time spent by global netizens at two hours and 23 minutes. Advancements in information technology and social media's ubiquity in people’s lives have changed how we communicate. For many years, corporate in-

n Franco Santos Lifetime Achievement Award: Lloyd Cadena nHeroic Creator of the Year: Angel Locsin Aside from advocating for the responsible use of social media, BaiCon InFest also encouraged its audiences to contribute to the event’s cause, #CreatorsUnitedPH, a fund-raising effort for the country’s new breed of digital influencers, teachers who are holding classes online. BaiCon InFest has partnered with the Philippine Public School Teachers Association to provide them with Digital Teaching Kits consisting of a pocket Wi-Fi, ring light, flash drive, headphones, and microphones. BaiCon InFest is an event by CICP and RGC and is powered by Smart. The event is sponsored by TrueID Philippines, Lazada Ambassador, Cebu Pacific, The BaR Fruity Mix, Kumu, TikTok Live, Levi’s, Prifoods, adobo Magazine, and Foodpanda, in partnership with Dentsu Aegis Network, Blogapalooza, Spark It Marketing, Paperbug TV, Greenbulb Communications, Red Torch Communications, Digiworx, Cutprint Productions, Bigseed PR and Events, BAI TV, BAI Social, and Ark Digital.

New Business: KimberlyClark Australia appoints R/GA Australia as Growth Partner to Kleenex and Viva brands

AUSTRALIA—Kimberly-Clark Australia, a leader in personal care,

tranets have been the go-to-source for official information. Unless the intranets have been modernized, accessing information from the field and ease of sharing information may be difficult for users. Nowad ays, compa n ies c a n choose from various enterprise social network channels and modern intranet software to effectively reach and engage their workers. Next week, I will share with you some of the insights, challenges, and helpful tips from communication professionals who have used Microsoft’s Yammer and Facebook’s Workplace. PR Matters is a roundtable column by members of the local chapter of the United Kingdom-based International Public Relations Association (Ipra), the world’s premiere association for senior communications professionals around the world. Kane Errol Choa is the vice president of Integrated Corporate Communications of ABSCBN Corp. PR Matters is devoting a special column each month to answer our readers’ questions about public relations. Please send your questions or comments to askipraphil@ gmail.com.

has appointed R/GA Australia to its Kleenex and VIVA brands. With a renewed focus on driving growth through marketing and innovation, R/GA will partner with Kimberly-Clark across their tissue, toilet paper and paper towel categories. R/GA will be tasked with positioning the brands for growth in Australia and lead the creative go-to-market strategy. Working with Mindshare and The Ship, Kimberly-Clark’s media and shopper agencies respectively, they will challenge go-to-market approaches and execute from shelf to screens. “We partnered with R/GA as we admire their innovative approach and enthusiasm for us to be bold.” said Kim Wright, senior brand manager—Kleenex. “We are looking forward to working with them closely on our brands that many Australian consumers use every day.” “We are thrilled to partner with Kimberly-Clark to evolve the positioning of such significant brands in Kleenex and Viva, especially at a time when their products are more important to people than ever,” said Michael Titshall, VP, managing director, R/GA Australia. “From our first conversation, it was clear they were an ambitious team, intent on challenging the category; a journey we are pleased to join them on,” he added.

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Monday, November 9, 2020 | www.businessmirror.com.ph

BUCKING THE ODDS SMDC PRESIDENT JOSE MARI BANZON BELIEVES THAT REAL ESTATE WILL PLAY A KEY ROLE IN RESTARTING THE ECONOMY AND REBUILDING THE NATION ONVENTIONAL wisdom can sometimes be misleading. Take for example the hunch that the real estate industry will crash due to the pandemic-induced economic crunch. It is assumed that the downfall will be caused by the market’s hesitance to shell out on big investments; that properties pose great risks, especially during this time of crisis. Again, all that is anchored on the operative word “assumed,” and SM Development Corporation (SMDC) President Jose Mari Banzon refuses to concern himself with suppositions. While others subscribe to conjectures, the diligent executive prefers certainties. He knows that hard assets like properties are generally impervious to economic crises as seen many times in the past. What’s more, Banzon believes that someone has to prime the economic pump and that real estate is up to the task. “We need to keep the economy moving,” he said, citing SMDC’s launch of Gem Residences in Pasig in July, to be followed by Gold Residences in Paranaque. “The real estate industry is in the best position to do that with its association with several industries such as cement, steel, and construction, among others. There is a nation-building component to it.” Banzon was never one to worry about the future. He knew from a young age to focus on the present and to take control of whatever he can. “As a child, I didn’t have any noticeable talent so I hadn’t focused on any particular field, but I noticed early that I was extremely persistent and determined. Hard work and sacrifice were second nature to me and I used that to pursue my goals,” Banzon said.

Moving to real estate

ONE of his early objectives and eventual achievements was to earn a double degree from De La Salle University: a Bachelor of Arts degree in Economics and a Bachelor of Science degree in Management of Financial Institutions. Another one that followed was to carve a career in commercial banking. Banzon spent years working in financial institutions both in the Philippines and Hong Kong. When the Asian Financial Crisis reared its ugly head in 1997, banks were saddled with uncollectible loans collateralized by real estate. Bankers had to liquidate these loans by either selling or developing real estate through joint ventures with developers. “That’s when I discovered my ability in real estate,” he said. “I transferred from the banking arm to the real estate business of the group that I was working with at the time. I never looked back.” After a stint with another property developer, Banzon made the move in 2013 to join one of the largest integrat-

ed property developers in Southeast Asia, SM Prime Holdings Inc. He was impressed with how the group quickly evolved from a start-up in the residential development industry in 2006 into one of the top players in just a few years. With SMDC, Banzon instantly got acquainted with the force that drove the remarkable growth. “When I came on board, I was pleasantly surprised by the hands-on involvement of the principals particularly our chairman, Henry ‘Big Boy’ Sy, Jr. to the extent that they have intimate knowledge of operations and pay attention to details,” he pointed out. “We also have an excellent management team comprising the most experienced, knowledgeable and dedicated professionals in the industry as well as a formidable sales force comprising bright, aggressive and hard-working sellers who dedicate themselves to serving the company and its buyers.” As for Banzon himself, he made his mark with the company early by taking the business and the brand to new heights. He most recently served as the group’s Executive Vice President, where he led SMDC’s impressive customer growth and expanded its product portfolio. In February, it was announced that Banzon will take on the role of president of the company. Under his leadership, SMDC remains true to its game-changing day-one objective of offering “affordable luxury.” “In the past, condominium living– with generous amenities and hotel-like services–was only for the rich,” Banzon said. “We have changed the landscape of urban-dwelling by providing a product that gives residents the feeling of luxury through spaces that are efficient, with generous resort-type amenities, complete developments with commercial establishments and hotel-like experience.”

‘‘The Good Guys’ is not just a tagline’

BANZON now faces the challenge of directing SMDC through these tough times. He acknowledges the fact that the company has not been spared by the turmoil brought about by the pandemic, noting that they had to close offices and let employees work from home for almost three months. But despite the change in work setup, they did not stop working. “We were able to keep operations going,” he said. “As a result, our sales for the first six months of 2020 have been higher compared to the same period last year. We were lucky. But we were also prepared.” The sense of adaptability that SMDC exercised was not limited to its operations. It was applied to the properties as well, aimed to cater to the changing lifestyle and emerging demands of the residents amid the lockdowns. The company had foreseen the work-from-home (WFH) trend. Thus, they were able to adjust the design of condo units by incorporating a work

area in the unit and co-working spaces in the wi-fi ready common areas. Meanwhile, SMDC’s ahead-of-thecurve philosophy of integrated lifestyle— where essential establishments are within reach—is now declared by Colliers International and other property authorities as the ideal setup of residential developments, especially in this time of pandemic. “A commercial strip, which is a standard feature in our developments, is perfect for WFH as the residents can get everything they need without leaving the complex,” Banzon said. To remain sensitive to the impaired cash flow of buyers, SMDC is also developing a product line that does not sacrifice its vision of providing world-class homes, or the company’s offerings of livable spaces and lively communities. “We do not stop at turnover,” he said. “When we say we build communities, we make sure our infrastructure is supported by professional property management, excellent customer experience, and various initiatives that allow everyone to live in healthy, happy, secure, and thriving communities.” Given the value of these projects to the community, Banzon underscored that “The Good Guys” is not just a tagline for SMDC, but a movement. “We try our best to live up to that promise,” he said. “We seek to understand what our residents and stakeholders–especially the socially disadvantaged like the elderlies and the PWDs, or the economically displaced–need and address those while strengthening the community spirit. In so doing, we create a community of Good Guys who want to do good for others.” Banzon added: “Ultimately, community building is nation-building.”

Bright things ahead

ASIDE from building SMDC’s identity and spirit—as well as keeping their foot on the pedal with multiple project launches—Banzon said they are looking at expanding to Southeast Asia (SEA) in the next couple of years. “Our first venture outside the country–in Chengdu, China–was well received,” he said, citing a seven-building residential project first launched in 2017. “We believe that the market for this region shares similar values and realities with our home country. As our business model has been successfully received here, we are confident that we will have that kind of reception in the rest of the SEA region.” The bold plans and march-on mindset of SMDC reflect Banzon’s unwavering optimism about the future of the property business. He said that if there’s anything that this pandemic has taught the real estate industry, it is that development must proceed with location, convenience, and connectivity foremost in mind. “Real estate is the best option for investors; the pandemic has shown that,” he said. “We can overcome this crisis and we will.”

“

We never stopped working and we were able to keep operations going. As a result, our sales for the first six months of 2020 have been higher compared to the same period last year.

”

BERNARD TESTA

By Jt Nisay

Monday, November 9, 2020 • Editor: Gerard S. Ramos

Style

BusinessMirror

www.businessmirror.com.ph

Great gi�t ideas: Personalized denim jackets and skin-care trial sets THE Basically Cool Set

RE you buying gifts for family members, friends and colleagues this Christmas? Many people have lost their jobs and others are uncertain about their futures, so will gifts still be part of our holidays? For myself, I just want food and skin care. I also want a Levi’s Trucker jacket that’s lined with faux shearling. I don’t know if such a thing exists but I can always DIY one with faux shearling or whatever warm material is available. I plan to use this jacket when traveling is allowed again. Okay, I’m just dreaming here. I’m not sure what I’ll be gifting others. For family, it would probably be cash. Not sure what to give friends yet. If you’re looking

for ideas, here are two: For the holidays, Levi’s is going the personalization route by launching their “Tailor-It-Yourself” kits, which you can gift to your loved ones or even yourself. It’s not cheap but if you’re a denim and/or Levi’s fan, it’s worth it. The limited-edition kit comes with P4,000 worth of Levi’s products that include a Levi’s Box, a Levi’s Trucker jacket, a T-I-Y Kit Pouch with a piece of cloth, patches, pins and fabric glue for easy application. The T-I-Y kits will be available until supplies last or until November 22 at Levi’s Tailor Shop branches: SM Makati, Robinsons Place Manila, Ayala Manila Bay and Robinsons Place Iloilo. Kit contents may vary and are non-exchangeable. The kits come in four sets for different styles and personalities: ■ The Basically Cool set includes trendy and bold statement patches. ■ The Down to Earth set includes floral prints and patterns. ■ The Trend Setter set makes a statement with its bold and loud colors and trendy patterns. ■ Last, the Creative Spirit set has mismatched colors and patterns that includes fabric pens that allow you to really personalize your denim. As each individual owns at least one denim clothing in their closet, it’s how you style and wear it that will make the Levi’s Trucker uniquely yours. Wearing denim is about making it your own, be it how you wear it, repair it, or customize it to your personal style. Levi’s has made it easier for you to own your denim with the Levi’s Tailor Shop offered within select the brand’s stores. Here’s the exciting part: Levi’s is offering the Tailor Shop services online. Those who don’t leave the house can have their Trucker jackets personalized with just a few clicks. “We know that the holidays are going to be a bit different this year. We hope everybody is staying safe. At Levi’s, we’ll show you how to turn denim into something different and personalized with these kits,” said Kat Costas, Levi’s Philippines

marketing manager. To learn to more about Levi’s Tailor Shop services, visit www.levi.com.ph. Levi’s also has exciting holiday promos coming up. All Levi’s VIP club members (old and new) will each get Tailor Shop service voucher from November 16 to 17 and November 27 to 30 only. On December 4 to 27, during Fridays to Sundays only, each customer will each get 3 free Tailor Shop Services for purchases of P3,500 and above. The vouchers can be used at all Levi’s Tailor Shop branches. The personalization route I plan to take is to find fake shearling online and have it sewn as the jacket’s lining and then have some fabric sewn on the collar. DISCOUNTS ON HADA LABO TRIAL SETS TO be honest, I would prefer to receive skin-care gifts more than makeup this year. For brands that I haven’t tried, trial sets would be great gifts to give and receive. I discovered the Japanese brand Hada Labo via a trial pack. Since its 2019 launch in the Philippines, Hada Labo Hydrating Lotion, the No. 1 facial lotion in Japan for 13 consecutive years and one of top 3 drugstore skin-care brands in Taiwan, Singapore and Malaysia, has helped Filipino skin-care enthusiasts achieve super hydrated skin. Hada Labo provides intense hydration by harnessing the water-binding power of hyaluronic acid—a substance naturally occurring in the human body that attracts and binds water—to help achieve the Japanese beauty ideal of mochi skin. Hyaluronic acid’s main function is to retain water so your skin is soft, supple and bouncy. It will make the skin appear more dewy and younger because it improves skin elasticity. Hada Labo’s less-is-more approach to beauty that includes a cleanser, the lotion and a light moisturizer. Here’s the good news: the Hada Labo trial packs are on sale right now until November 15 at 20-percent off, exclusively at selected Watsons outlets nationwide and through all Watsons e-commerce platforms, such as watsons.com.ph, and Watsons channels in Shopee and Lazada. My favorite from the Hada Labo brand is, of course, the The Hada Labo Hydrating Lotion, which I use after cleansing and before moisturizing. I even use it to moisturize my hands. This fragrance-free lotion might look clear and almost watery but it is a powerhouse of hydration with four types of hyaluronic acid. My Christmas wish is for the Philippines to have different Hada Labo variants so we can try the others. I’ve been wanting to try the Hada Labo Koi-Gokujyun Perfect Gel, which users have described as one of the best light moisturizers in the market. One of the beauty accounts I follow on Instagram swears by this. She uses this after cleansing and she says her skin is reacting well to it. ■

Hermes, not Gucci, is the chic choice right now BY ANDREA FELSTED Bloomberg News ONE takeaway from the third-quarter earnings we’ve seen so far is that consumers are still spending—and they’re reaching for big, well-known brands for everything from food to face cream. This has played out most dramatically in high-end retail, where in some cases wealthy shoppers are buying more expensive goods than they were a year ago. There are a few reasons why this may be. As I have noted, some of the spending is coming from savings accumulated during lockdown, and affluent consumers want to get the most bang for their buck. If they’re reaching outside their regular price range or making their first luxury purchase, that often means shelling out for a household name: Louis Vuitton, Christian Dior or Hermes—all of which have seen strong sales recoveries. It also helps that the biggest companies— LVMH Moet Hennessy Louis Vuitton SE, Hermes International, Cie Financiere Richemont SA and Gucci-owner Kering SA—have the resources to make their brands stand out in a crowded market. They can afford to double down on social media campaigns. Meanwhile, consumers want tried and tested styles, whether that’s a Hermes Birkin bag or a Moncler puffer jacket. With fewer occasions to dress up, as well as an increasing awareness of fashion’s environmental costs, shoppers may decide to buy less, but buy better. All of this favors luxury houses steeped in heritage, such as Hermes, the first high-end group to return to sales growth in the third quarter. The handbag maker was also helped by the fact that it’s less dependent on tourist spending, which accounts for about 20 percent of sales globally, than its competitors, which see 30 percent to 35 percent of sales come from tourists, according to Thomas Chauvet, luxury analyst at Citi. But the shift in demand from cutting-edge to

classic may be more of a challenge for Gucci, where sales excluding currency movements fell 8.9 percent in the third quarter. Its flamboyant aesthetic has won a strong following among younger customers. But it’s now toning down its ostentatious styles to adapt to more conservative tastes. Shoppers reaching for the familiar also creates particular challenges for smaller companies. Given the power of the luxury conglomerates and muscular single-brand groups such as Moncler SpA, there may now be more pressure to sell out to them. Salvatore Ferragamo SpA, for example, hasn’t reported its third-quarter sales yet, but the Italian house’s turnaround efforts have been disrupted by the pandemic. Investors will be watching to see whether Ferragamo and other companies seeking to revive their fortunes, such as Burberry Group Plc., are similarly lifted by the rising luxury tide. Ferragamo denied this week that it held talks with investors over

a potential stake sale. But the family-controlled group would be wise not to turn its back on any options. The strides that the mega-brands have made this year will make it harder for smaller houses to gain traction with the wealthiest shoppers, even as a strong recovery in demand for luxury is expected in 2021. Of course, there is a possibility that consumer tastes pivot back toward experimentation when the world returns to some semblance of normality. But that future seems far away and far from certain. Even if shoppers do want less familiar, more edgy designs, companies will need to reach them online and through social media channels. Having the best retail locations and hottest designers will also remain crucial. That means continued investment for all groups, big and small. If life continues to get tougher for more niche brands, the next hot trend in luxury could be a shakeup of industry ownership.

CAFTANS FOR THE NEW NORMAL THE new normal has set new demands as professionals continue to work from home. If you want a break from the tees, jeans, and athleisure attire that have emerged as the OOTDs of this time, slip into the effortless ease of SM Woman’s stylish caftans. A traditional garment of the Middle East, caftans—which were made of luxurious silks and embellished with ornate beading—were worn by Ottoman sultans and Moroccan dignitaries of centuries past. The caftan was later introduced to Western society and adapted in the 1950s and 1960s by leading couturiers such as Cristobal Balenciaga and Christian Dior as a new form of evening gown. Since then, it has become a favorite among fashion icons like Andre Leon Talley, the Olsens, and Rihanna, as well as editors, designers and the glamorous set. And with more of us spending more time at home, Tory Burch, Dolce & Gabbana, Gucci, Pucci, as well as Lilly Pulitzer have included the caftan in their latest collections. That’s because the caftan has a free-spirited ethos that feels equal parts luxurious and liberating, and its billowy, loose silhouette makes it so alluring. The SM Woman caftan collection can work itself into an everyday wardrobe with ease. These midcalf length caftans are, says Anthony Nocom, “made from quality charmeuse satin in floral prints that are cut with precision and a good fit for women who want to feel good about themselves.” Nocom, who has worked on menswear for SM for many years, has since transitioned into designing caftans, as well as lounge dresses and sleepwear for the store. The best part is their price, which range from P599 to P699. Perfect for lounging around the house, working from home, running errands, and meeting friends, the SM Woman Caftan and Lounge dress collection is available at selected SM Stores in Metro Manila and provincial cities.

Sports BusinessMirror

mirror_sports@yahoo.com.ph | Editor: Jun Lomibao

UKA SASO rallied with a scorching nine-under 63—the best score in the tournament—on Sunday to salvage second place behind champion Shin Jie of South Korea in the Toto Japan Classic of the Japan Ladies Professional Golf Tour (JLPGA) in Ibaraki Prefecture. Saso rallied from six strokes down to force a tie at 16-under on a stirring three-birdie finish for that solid 63 in a drama-laden final round of the Y160 million event. But Shin stayed composed in a nervewracking finish three flights behind and relied on her experience and poise to foil Saso and nail the JLPGA’s third major championship with a closing 66 for her second victory in five tournaments. The Korean former No. 1 who boasts of 67 career victories—including 25 in the JLPGA, 21 in the Korean Tour and 11 in the LPGA Tour—eagled the reachable par-five 17th to build another two-shot cushion then capped her exploits with another birdie for a 34-32 and a three-shot romp on a 19-under 197 total at the Taijeiyo Club Minori course. The 32-year-old Jie completed a rare championship in a JLPGA major without

SASO RETURNS ON TOP IN JAPAN LPGA TOUR dropping a shot over 54 holes. But the margin of victory hardly diminished the impact of Saso’s blistering windup that had the International Container Terminal Services Inc.-backed ace fighting back from six down at joint 12th with a 32 start then gunned down five more birdies in the last eight holes, including the last three. She tied Jie at 16-under after holing out from close range on the 18th for a 32-31 and a 200 total but the former dashed her hopes for a third crown with her own blazing finish for a 197. Saso regained the Player of the Year lead in the process from rival Sakura Koiwai with 928.85 points heading into the last three events in the next three weeks in Chiba,

Ehime and Miyazaki Prefectures. Her Y14,637,920 (P6.8 million) earnings also virtually netted her the money list honors with Y82,753 (P38.6 million), Y24 million ahead of Koiwai, who stayed in the Top 10 with a frontside 33 but fumbled with one bogey in a birdie-less backside finish for a 70. She wound up tied for 18th at 208 worth Y1,846,400 for total

earnings of Y58,862,542 and 891.46 points in the Mercedes ranking. Saso also found herself back on top of the rankings in several categories, including average stroke (69.9), top 10 finishes (6), number of birdies (137), average number of birdies (11), number of eagles (6), par-5 average score (4.69) and final round average score (68.6). More importantly, her strong runner-up effort more than heralded her return to form after her game took a downswing after scoring back-to-back victories last August. She would struggle with mediocre finishes in her next six tournaments, finishing no higher than tied for eighth in the Desant Tokai

ALAS, ROAD WARRIORS BACK ON WINNING PATH IN BUBBLE

OSING three in a row to kick off things inside the Clark bubble isn’t every mile the right path to take for a potent team such as the NLEX Road Warriors. More so with a meticulous coach, Yeng Guiao. But the Road Warriors are back on track, thanks to Guiao’s constant pounding on his wards who at any given time, could overrun even the toughest of teams in the Philippine Basketball Association Philippine Cup. And combo guard Kevin Louie Alas knows he and his teammates are doing the right thing as evidenced by their 4-5 won-lost record highlighted by a 109-98 beating that dealt the TNT Tropang Giga their first loss in the bubble last October 29. “The positive changes happened after we got rid of all the pressures resulting to those three consecutive wins,” said Alas, who is back to his usual form a year after recovering from two anterior cruciate ligament (ACL) injuries. Alas was instrumental in NLEX’s rise in the unique conference. After stunning TNT, the team beat Rain or Shine (94-74) last November 4 and pulled off another reversal at the expense of defending champion San Miguel Beer (124-90) last Friday. They have two games left before they close out the eliminations—and as many chances to go deeper in the conference. “As coach Yeng [Guiao] said, we just have to improve each game. I think our mindset changed really well because the pressure is gone,” said Alas, son of respected coach Louie Alas. “We are just focusing at one game at a time.”

Monday, November 9, 2020 A9

PHL men, women golf season resumes after eight-month lull

“We are enjoying the game and with the pressure now gone, the atmosphere changed for good,” added Alas, who is averaging 16.5 points, 6.4 rebounds and 3.8 assists in nine games, second to teammate Kiefer Ravena’s 17.7 points, 5.6 rebounds and 4.4 average. “Kiefer and me, we support each other and we always talk especially when we were losing,” Alas said. Alas had ACL issues first on March 20, 2018, and the second February 20 of last year, forcing him to miss the action for almost two years. He returned for a few games in last year’s Governors’ Cup and was stunted anew when the Covid-19 pandemic struck in March. Alas said he is playing cautious after his nose was accidentally hit by TNT guard Jayson Castro last October 29. Or so he said as the former Letran star continues with hiss daredevil and fearless drives to the basket. On Monday, NLEX faces Alaska (6-4) at 4 p.m. after the Phoenix Super LPG (6-3)-Blackwater (2-7) game at 1 p.m. League-leading Barangay Ginebra (7-2) meets winless Terrafirma (1-8) at 6:45 p.m. Magnolia, meanwhile, cruised to 83-76 win over Northport on Sunday for its fifth straight win and a 6-4 win-loss record. Meralco nipped Terrafirma, 95-93, to move closer to a quarterfinals berth with a 6-4 card. Rain or Shine, on the other hand, defeated Blackwater, 82-71, to improve to 5-4. Josef Ramos Kevin Louie Alas says he and the Road Warriors are now playing pressure-free.

United City targets title sweep of PFL tourney

HE Philippine Golf Tour (PGT) resumes after a long eight-month hiatus due to Covid-19 pandemic with a two-tournament “bubble” for the men’s and ladies circuits from November 17 to 20 and December 8 to 11 at Riviera’s Couples and Langers courses, respectively, in Silang, Cavite. The resumption is aimed not only at providing opportunities for the pros again but also at underscoring that golf can live up to its reputation as one of the safer sports allowed to restart in new normal times. “The management of Pilipinas Golf Tournaments Inc. [PGTI] has studied the possibility of scheduling two tournaments to end the year and presented our Covid-19 protocols and new guidelines to the Games and Amusements Board and Inter-Agency Task Force [IATF on the Management of Emerging Infectious Diseases] for their approval,” PGTI General Manager Colo Ventosa said. Two events were actually held before the pandemic—the International Container Terminal Services Inc. (ICTSI) Pradera Classic, a spillover tournament capping the third season of PGT Asia last January, and The Country Club Invitational, the flagship event of each PGT season, last March. But very little about the last tournament would be like the opening round of the restart of the circuit as the pros will return to a new set of rules and safety protocols, including restricting the players’ movements inside the bubble. A memo was sent to all the players over the weekend, outlining and detailing the various procedures to be implemented during

NITED City Football Club caps its successful run with a no-bearing yet prestige-laden matchup with Kaya Foot Club as the Philippine Football League lowers the curtain on its pandemic tournament on Monday at the Philippine Football League Training Center in Carmona, Cavite. Already was declared champion following its emphatic 7-1 rout of pretender Stallion-Laguna on Friday night that gave the team formerly known as Ceres-Negros an unreachable 4-0-0 win-draw-loss record in the tournament played inside a bubble environment at the PFF’s worldclass facility. The United City-Kaya match is set at the third of the final day’s triple bill at 7:30 p.m. Stallion-Laguna faces the Azkals Developmental Team at 9 a.m. while Maharlika clashes with Mendiola at 4 p.m.

MARCIAL STAYS AMATEUR - GIBBONS

Stephen Schrock celebrates with his teammates after United City Football Club secures the crown on Friday night.

IDDLEWEIGHT boxer Eumir Felix Marcial will remain an amateur at least until after his campaign in the rescheduled Tokyo Olympics, MP Promotions President Sean Gibbons clarified on Sunday. “Absolutely, he is going to remain in amateur status because he qualified for the Olympics,” Gibbons said. “Regardless if he gets a license as a pro, he is still an amateur.” Marcial signed a lucrative professional contract with Manny Pacquiao’s MP Promotions last July but stressed his desire to win the gold medal in the Tokyo Olympics that were rescheduled for July 23 to August 8 next year. “With the way the AIBA [International Boxing Association] is running boxing now, you can be a professional and fight as an amateur—so there’s no really such thing as being an amateur,” Gibbons said. The AIBA started allowing pros during the Rio 2016 Games to compete for their respective countries in tournaments or games it sanctions or supervises like the Southeast Asian Games, Asian Games, world championships and the Olympics. Gibbons, also a known international matchmaker, explained Marcial has no plans of giving up his amateur status. “He [Marcial] is always going to remain an amateur. Even he fights a professional fight, he still maintains his amateur

Kaya-Iloilo was held to a scoreless draw by Mendiola also on Friday to fall to a 2-0-2 record. The team needs nothing less than a victory over the champions to secure second place and join United City to the Asian Football Confederation Cup. ADT (2-2-0) stands in Kaya’s way for the runner-up trophy, but are ineligible for the AFC Cup being a guest team. The rest of the field— Maharlika (1-3-0), Stallions (1-2-1) and Mendiola (1-2-1) are out of contention for the AFC Cup. Annie Abad

By Josef Ramos

Classic last September with the slump leading to a missed cut stint in last week’s Hisako Higuchi Mitsubishi Electric tournament in Saitama that ended an impressive run of nine consecutive cuts made. Saso’s tournament-best 63 likewise matched her closing output to capture her first JLPGA diadem in the NEC Karuizawa last mid-August before claiming the Nitori Ladies title the following week. World No. 5 Nasa Hataoka also fired a 66 to finish tied for third at 202 with Korean Jeon Mi-Jeong (65) and Maiko Wakabayashi (66) while last year’s champion Ai Suzuki also rallied with a 65 to share sixth place with Lee Min-Young (70) and Ayako Kimura (71) at 203.

status,” he said. “Plain and simple—he still an amateur. Marcial has yet to secure a professional boxer’s license from the Games and Amusements Board, a must for Filipino prize fighters especially when they fight in domestic cards. Gibbons said Marcial is not eluding the GAB license. “Eventually, when the time is right, we will apply for a GAB license,” he said. Marcial flew to Los Angeles last October 11 and is now training under legendary trainer Freddie Roach, assistant Marvin Somodio and strength and conditioning coach Justin Fortune at the Wildcard gym. He also sparred for the first time with middleweight Gabriel Rosado last Thursday. “I am not surprised [of his improvement]. So what do you think I signed the kid? He works with the dream team and they took Sen. Manny Pacquiao] for 18 years,” Gibbons said. “Our real focus is on winning an Olympic gold medal for the country and for Eumir’s father,” he added. Gibbons dismissed a November fight for Marcial as the Wild Card team is focused on honing the 25-year-old for the Tokyo Olympics. He last fought in March at the Asian/Oceania Olympic Qualifiers in Amman, Jordan, to earn the ticket to Tokyo along with woman boxer Irish Magno, who earned a silver. Philippine Sports Commission (PSC) Executive Director Atty. Guillermo Iroy confirmed Marcial remains an amateur in the absence of a GAB license. “Right now, Eumir is not yet a pro since he has no license from the GAB. Although he has signed a contract

the two-tournament run. This includes mandatory RT-PCR swab tests and Standard Q Covid-19 Ag (Antigen) test with the PGTI to cover only one test per tournament. Daily temperature check will be conducted. Players will also be required to fill out a health questionnaire that would include the RT-PCR results and Standard Q Covid-19 Ag (Antigen), which will be submitted to the GAB. Registration is ongoing with the PGTI expecting around 78 players in men’s and ladies sides to participate. Deadline for registration is on November 10. The health and safety guidelines, including during the tournament proper, are all detailed in the PGTI Standard and Procedures at www.pgt.ph. The PGTI has also tapped the Bayleaf Hotel in Cavite as its official hotel during the bubble although players are allowed to use personal cars but strictly to the hotel only. Shuttle buses will be provided to and from hotel to the golf course. Face masks and face shields must also be worn inside the bus. Once the player leaves the bubble, he will not be allowed to re-enter. A player with positive result or with Covid-19 symptoms will be immediately placed in the isolation room of the hotel or the golf course. Contact tracing will be conducted and all the necessary disinfection steps will be done. “The fight against this virus is not over, so we shouldn’t keep our guards down,” said Ventosa, stressing that the GAB/IATF may cancel the tournaments once the safety and health protocols are violated. The PGTI cut short its 72-hole Qualifying School for both local and foreign players midMarch following the outbreak of global health crisis, forcing the pros out of the fairways for a considerable length of time. Scrapped were multi-events lined up for the PGT, the PGA Asia and the Ladies PGT, stymieing a well-laid out plan and program for the start of the new decade for PGTI following a milestone 10-year long staging of the premier circuit at the country’s various championship courses.

with the MP Promotions, the ABAP [Association of Boxing Alliances in the Philippines] still has authority over Marcial insofar as his status is concerned,” Iroy said. Iroy also confirmed Marcial isn’t violating any PSC policy when he signed a contract with MP Promotions.

MP Promotions President Sean Gibbons (right) strikes a pose with Eumir Felix Marcial, who celebrates his 25th birthday last October 29 in Los Angeles.

Rick Olivares bleachersbrew@gmail.com

Bleachers’ Brew

Crossing the Delaware AS American president-elect Joe Biden gave his historic speech in his hometown of Wilmington, Delaware, this past Sunday morning, November 8, I thought to myself...a victory in Pennsylvania catapulted him to the highest office of the United States of America. And an added thought, that 244 years ago, the haven of Pennsylvania allowed the beleaguered American general (and later its first president) George Washington respite against the British during the American Revolution. After losing New York to the British in November of 1776 there was massive demoralization among the American Continental Army ranks not to mention their nascent American Congress. Luckily for Washington, the British opted not to chase him further as winter set in. Unperturbed, from his home base in Pennsylvania, he organized a counterattack on Christmas Day; a bold stroke that ultimately helped the Continental Army win its independence eight years later on September 3 1783. “Washington’s crossing of the Delaware River” is significant for many reasons including the treacherous conditions in which they traversed the river back into New Jersey and they defeated the British-led Hessian forces quartered at Trenton on the 26th of December. The Continental Army followed that up with another win over the British in Trenton in January 2, 1777, and another at Princeton the next day. Each of their three crossings were always under the most dangerous of circumstances. This gave the nascent American Congress and its people hope that they could win their war of independence against the British. The sites of Washington’s crossing of the Delaware across Pennsylvania and New Jersey are historic preserves sites today. And the state of Delaware takes its name...from the river that cuts across four states including New York, New Jersey, and Pennsylvania. Flash forward today, and Biden’s victory in a most contentious American election gives hope in a world made more complicated by populist leaderships and the ongoing Covid-19 pandemic. Biden’s winning of Pennsylvania that flipped toward Donald Trump in 2016, was the winning stroke. And now, the work and mess Biden will inherit is only beginning. It is a country deeply divided on many issues. I agree with some precepts on both sides, and disagree with others. I can understand the concerns, fears, and prejudices—of both sides of the spectrum—having experienced them myself. What is important though is there are leaders who are sensitive, knowledgeable, and willing to take on these issues with the right temperament and disposition. Why is it that this election is important not only to America but also the world? Or even for me for the matter? Let’s answer that in reverse. My mother used to work for the American government and during her time there, I read and learned their history, their government and politics, and their culture. Furthermore, I lived there for a spell. As for the world...it is because since World War II, the world has taken its cues from what goes on in the USA. They are the sole remaining superpower (although that country from Asia is fastgaining on them) whose influence is felt on a daily basis across realms of business and finance, popular culture, technology, and medicine to name just a few. As I listened to American Vice President-elect Kamala Harris, and then Biden, my hair stood up at the optimism they radiated. I think there is much discussion, open-mindedness, and comprise needed on many an issue. That goes for the entire world as well including here where it is almost the same in terms of divisiveness, vitriol, and a misplaced sense of patriotism. Now, that road will not be an easy one to traverse; much like the Delaware River crossing that George Washington made 244 years ago. But I have this feeling in my gut that like that like the flicker of hope Washington’s victory in New Jersey centuries ago provided, we can expect the same.

A10 Monday, November 9, 2020 • Editor: Angel R. Calso

Opinion BusinessMirror

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editorial

The ‘20s’ election fraud

ne of the reasons that we might vote for a certain candidate for public office is his creativity with finding solutions to problems. People who think outside the box to provide answers in difficult situations can be desirable.

Our problem though is that politicians have a habit, a tradition, a legacy, of being even more creative long before they take office. No matter how “wise,” “honest” or “self-sacrificing” they might be, every candidate knows that there is only one truth. You cannot do anything unless you get elected. And since you are the politician representing all that is good, you have an obligation to “The People” to do whatever is necessary to save them from the other guy. Elections are the ultimate testing grounds for Teleological Ethical Theories, like “the ends justify the means.” The idea of free and fair elections has always been a kind of myth. Sargon of Akkad is sometimes identified as the first person to rule over an empire. Sometime in 2020 B.C. Sargon was “elected” ruler over all the Sumerian city-states, and by elected we mean he killed anyone who “voted” against him. Elections were more primitive 4,000 years ago. However, in 1220 A.D. Genghis Khan sort of turned Sargon’s method of “winning elections” into a campaign slogan—“Surrender or Die.” Perhaps that was the first political platform that gave voters a choice. We might think of elections when there is a campaign period and voters cast ballots as a new invention. It is not, and neither is election fraud. As civilizations became more “civilized,” and since government power was only held by the elite, the ancient Greeks decided that elections were more sensible than fighting to the death. Around 420 B.C. as Pericles was ruler of Athens, he thought it would be a good idea to pay citizens to participate in “democracy” to compensate them for their time and trouble. This is not to be confused with modern “vote buying.” Citizens were paid all the time and amazingly they would vote properly when the election came. The ancient Romans copied much from the Greeks, including elections and election fraud. By the time 120 B.C. rolled around, the Romans had enacted laws that restricted spending on banquets. You might call this the first campaign finance law. Soviet Premier Joseph Stalin never said, “Those who vote decide nothing. Those who count the vote decide everything,” but that is true. Chicago Gangster Al Capone may have invented “flying voters” when he supposedly said: “Vote early and vote often.” Capone moved into controlling local politics in Cicero, Illinois in 1924 as a way to protect his criminal activities. Charles D. B. King, seeking a third term as president of Liberia in 1927, won the election with 243,000 votes. There were 15,000 registered voters in the country at the time. In the Philippines, it used to be that ballot boxes were lost—or thrown out of military helicopters in the jungles of Southern Luzon. Now, votes that were stored on flash drives are “lost.” When caught, “dagdag-bawas” was because of human error. In 2020 A.D. it is because of a computer glitch. The politicians are always going to be one or two or three steps ahead of the public when it comes to elections. We are too busy working to feed our families. The politicians are busy trying to feed the ballot box. Since 2005

What the PHL can expect from a Biden presidency

Former Ambassador to the US Jose Cuisia Jr. has said that Biden’s election would mean that there might be more opportunities for Filipino immigrants in America. In fact, many are expecting that Biden will be implementing more relaxed immigration policies, including the possibility of becoming more lenient with healthcare coverage for immigrants.

Different parties have varied opinions as to the nature of these changes. For example, on the economic front, some experts are predicting that a Biden presidency will positively impact the country’s economy. After Trump pulled out of the Trans-Pacific partnership trade pact early in his presidency, almost everyone is expecting that Biden will be restoring trade relations with traditional US allies, and that includes the Philippines. Many believe that Biden will scale back

with health-care coverage for immigrants. With regard to Covid-19, more people are confident that Biden is more likely to work with the scientists in America to handle the pandemic better. Albay Rep. Joey Salceda said that if the vaccine would come from the US, the Philippines has a better chance of getting access to it under a Biden presidency. Trump’s previous actions in the areas of climate change and health action will most likely be reversed by Biden as the US is expected to rejoin the Paris Climate Agreement and the

Atty. Jose Ferdinand M. Rojas II

RISING SUN

S of this writing, a new US president has not been officially declared but it is looking like Joe Biden will be celebrating a victory soon. In the probable event that this happens, the Philippines is expected to experience some changes, although this may not be immediate.

How a Biden presidency will impact Philippine transport

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Trump’s “America First” policy on global cooperation, thereby opening more opportunities for multilateral trade deals between the US and various trade partners. Former Ambassador to the US Jose Cuisia Jr. has said that Biden’s election would mean that there might be more opportunities for Filipino immigrants in America. In fact, many are expecting that Biden will be implementing more relaxed immigration policies, including the possibility of becoming more lenient

World Health Organization. This is good for the Philippines, especially as far as environmental action is concerned, because we are essentially a financial beneficiary in the said agreement. It is definitely looking like there will be important changes in regulatory policy in these fronts. Through presidential spokesman Harry Roque, the Philippine government has expressed confidence that whoever wins the election, we will be able to work with either Trump or Biden as we’ve been good friends with the US for a long time. Some of our politicians also believe that the Democrats have always been “generous to the Philippines.” It seems that many can’t avoid expecting grand changes under a government led by Joe Biden. The world, not just the US, is weary of the series of challenges that have come upon us in recent years, most especially in 2020. But it is not realistic to expect a new and better world just yet. The US has many things to fix in its own backyard, so to speak, especially in the initial months of the Biden administration.

merica has a new president with former VP Joe Biden securing the necessary 270 electoral votes to win the presidency. And America being what it is to the rest of the world, the leadership change will affect the whole world. More so in the Philippines, as we are historically, politically, culturally and economically connected to the United States. A Biden presidency will have an impact on many aspects of our lives. Even in our climate change, transport and mobility policies. How so? The Democrats, more than the Republicans, made climate change a major concern, with a staggering 78 percent of this party committing to it as a national priority. In contrast, the Republican Party threw out most of the environmental protection regulations, including relaxing limits on methane and carbon emissions. With both their houses of Congress seemingly in the hands of the Democrats, such progressive agenda on climate change will definitely be prioritized and fast tracked. Moreover, the US is expected to rejoin global climate change talks, most especially the 2015 Paris Agreement. Policies on alternative energy to include “clean transit and transport will be pushed more than oil and gas.” It will come

as no surprise if we see the passage of a zero emission economy year target in this US Democrat-led leadership. Given this scenario, such a move will send not ripples but shockwaves to our shores. We will expect to see alternative energy, non-fossil fuel and low carbon transport as part of any bilateral discussions between the United States and the Philippines. Trade agreements will push for lower tariffs on these products. Given the fact that the price of clean vehicles is expected to go down when their use is being encouraged in the largest vehicle market that is the US, pass-on costs of these imported vehicles in our country will make it more affordable to Filipino consumers. And low carbon vehicles will not come from the US alone.

Given this scenario, such a move will send not ripples but shockwaves to our shores. We will expect to see alternative energy, non-fossil fuel and low carbon transport as part of any bilateral discussions between the United States and the Philippines. Trade agreements will push for lower tariffs on these products.

If the US market for such vehicles will grow, then auto manufacturers from other countries—such as Japan and Korea—will adjust accordingly. The effect on us will be the same, as these car-producing countries will also push for their products in the Philippines. What we will expect then in the next few years is a local market where electric vehicle offerings and EV ecosystem will be aggressively pushed and prices going down. We will also expect this push for change of policy from the foreign institutions we deal with, such as the World Bank, ADB, JICA, KOICA and others. Recommendations on transport policies from these institutions, coupled with the financial assistance or relaxed loan terms, will focus on transport systems that are more sustainable. On the other hand, there is also that possibility, being the Third World country that we are, that we become the dumping ground of unwanted fossil fuel vehicles, even

by these producer countries that will now be espousing low carbon vehicles. This is understandable, as they will need to unload and maximize the opportunities in all remaining global markets for this sunset transport variant. And costs of these vehicles will be very affordable, therefore temptingly attractive. But low-priced as they are, we must not fall for this situation, as long-term effects of fuel fossils on our health and environmental system will definitely negate the gains made from lower fuel costs. Hence, our transport laws must follow suit. Currently, proposed legislations on low carbon and EV usage and ecosystem are hibernating in both houses of Congress. This needs to be fast tracked and attuned with the global push. A Biden presidency will have this effect on us, which is a welcome one. Especially so for a country that is, whether we admit it or not, still tied up in some shape or form with the United States. But more so because, no matter what we say, any push on climate change will greatly benefit us, a country that stands to be devastated by a major disaster if such climate change is not prevented. Thomas “Tim” Orbos was formerly with the DOTr and the MMDA. He has completed his graduate studies at the McCourt School of Public Policy of Georgetown University and is an alumnus of the MIT Sloan School of Management. He can be reached via e-mail at thomas_orbos@sloan.mit.edu

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Toward digital success in the new normal

There is certainty in faith over the uncertainty of the future Siegfred Bueno Mison, Esq.

THE PATRIOT

Dorelene V. Dimaunahan

DEBIT CREDIT Part One

he pandemic has changed the world of business forever. Businesses and individuals that form part of any organization have to become more agile amid rapid change, most especially since we are living in the digital age. Digitization plays a vital role in human resources, sales, marketing and accounting, as well as in other areas. Therefore, it is key that we efficiently utilize the wonder of these digital tools. This is a series of articles focusing on how digitization can be effectively and efficiently integrated into the different areas of management. Being able to understand the relevance of each digital tool and their unique processes, and how they can be fully integrated into business operations is key to sustainability these days. This first article dwells on Digital Human Resources. It has been more than a year since Republic Act 11165 or the Telecommuting Act was signed into law. Telecommuting is an alternative workplace arrangement that makes use of telecommunications and other computer technologies. The pandemic has paved the way for workfrom-home arrangements to be fully enforced. With this, a good people strategy is helpful for HR leaders, most especially since employees are a business’ assets or human capital. Aside from safety and sanitation measures, top priority for organizations must be employee well-being. Digital catch up sessions and virtual team building activities are necessary for employees to maintain rapport with colleagues and more importantly, strengthen organizational communication threads. Communication is of greater importance nowadays as the absence of face-to-face discussions discounts non-verbal cues, which may lead to misinterpretation or miscommunication. Valuing mental health is definitely key these days, given that anxiety and depression are the general effects of the pandemic. Human Relations (HR) leaders may want to integrate one-on-one or group kamustahan activities, to ensure that everything is in place. These may also be in the form of coaching

or mentoring sessions. Being very sensitive toward employees and extending patience and understanding are necessary, given that the effects brought about by the pandemic and each employee’s personal experiences vary per person. Being in an organization that truly understands is a good manifestation of an adaptive organizational culture. This #newnormal is also the perfect time where HR Leaders can maximize continuous learning or training programs. There are several certification courses, webinars and other modes of training, available at lesser costs. In this way, employees are able to make use of the extra time they have at home, in preparation for normalcy in onsite operations. One of the most relevant technological breakthroughs brought about by digitization in the realm of human resources is the shift to more data-driven decision-making strategies, thanks to analytics and artificial intelligence tools. Even in the field of HR, technology is getting more ubiquitous and sophisticated. From online meeting tools such as Zoom and Google Meet to project management tools such as Trello, the trend is towards a greater knowledge base and ultimately, efficiency in the workplace. (To be continued) Dorelene Dimaunahan is an entrepreneur, educator of the country’s top universities, a host and an author. She is also a Certified Franchise Executive, Certified Management Accountant and a Certified Human Resources Practitioner. This column accepts contributions from the business community. Articles not exceeding 600 words can be e-mailed to boa.secretariat.@ gmail.com.

Love in the time of Covid bodes well for Tinder and Hinge By Alex Webb

Bloomberg Opinion

he course of true love never did run smooth. Nor does the business of love. The first half of the year wasn’t good for dating apps. Living under stay-athome orders, singletons weren’t spending more money on technology to help them find romance. There was little point, with many date spots—bars, restaurants and cinemas—closed. But as the lockdowns eased over the summer, the search for love or something like it resumed with vigor. Match Group Inc., the parent company of Tinder, Hinge and OkCupid, enjoyed a record $84 million sales increase in the three months through August, as it added 1.1 million subscribers. With social distancing measures in place, dating apps became one of the best options for meeting new people. It augurs well for the dating giant’s prospects in the post-Covid-19 era, whenever that may be. A second wave of the virus and the ensuing shelter-in-place measures will likely dampen growth for the rest of the year. After the 16% third-quarter sales increase, growth probably won’t exceed 2% for the rest of the year, Match said on Wednesday. That still beats previous analyst expectations. Perhaps with the current grim state of the pandemic in mind, Match refrained from offering any 2021 guidance.

Even as it predicts lower growth, the company is finding ways to ensure its existing subscribers keep paying for its apps. Tinder, which accounts for more than half of Match’s revenue, is rolling out a new video chat service, dubbed Face to Face, which lets would-be paramours have a virtual date. Match went through a breakup of its own this year. The firm was spun out from IAC/InterActive Corp. in July in a complicated transaction that resulted in Match transferring much of its cash to the parent company, which owned more than 80% of the stock. The deal left Match with a sizable net debt pile representing more than four times Ebitda, an earnings measure. That’s a lot for an Internet company with relatively low growth. Match’s ability to grow Ebitda more quickly than revenue, as it did in the third quarter, should provide some relief to investors. Chief Executive Officer Shar Dubey seems focused on keeping homebound love-seekers paying for the premium product, and the revenue bump over the summer hints at the bonanza that might be in store once lockdowns ease again. That might make it easier to justify the company’s generous valuation of 56 times forward earnings, which gives it a market capitalization of $35 billion. Love in the time of plague might not be a brilliant business. But love immediately after it looks promising.

Monday, November 9, 2020 A11

upertyphoon Rolly and the equally stormy US presidential elections combined last week to form a series of societal episodes arranged in an ascending order of rhetorical forcefulness. Everyone was momentarily hushed in anxious waiting for a day or two, only to be thrown about with an outcome though not completely unforeseen was still quite extraordinary. Now the “aftermath” of both events will have aftershocks that will be felt immediately and persistently in the following days. As of this writing, some of my friends are overwhelmingly joyful in celebration with the likely change of leadership in the US while others are cautiously apprehensive about the inevitable exit of a defiant incumbent president. While forecasts were available prior, during and after election day, the outcome was far from certain. Awaiting the conclusion of the match between Donald Trump and former Vice President Joseph Biden was like watching the opera—a union of music and drama adopting the Trump-brand of spectacle. On several media platforms, there was tenor and tempo as the 50 states forming America were conjoined, turning red or blue as the electoral votes were reflected. Just a few hours after Election Day, Trump publicly announced victory, albeit prematurely, and, in a subsequent public appearance, threatened to file legal cases to put a stop to the counting of votes, which he claimed to be fraudulent. Such volatile developments generated much global interest as dramatic excitement due to its uncertainty. Israel and Brazil both anticipated a Trump Presidency, while Iran (battered by Trump’s

sanctions), and Indonesia (wishing for a soft American approach to the Muslim community) looked forward to a Biden administration. Since most nations have and will continue to have vital stakes on the aspects of economy, military support, trade and alliances with the US, everyone waited in earnest as to who the next US president will be. And yet in that epigrammatic period of an election, not one could foretell the outcome with confidence, much as they wished to. In the same manner, in the Philippines, some of my friends and relatives based in the Bicol region are currently struggling for basic provisions because of the devastation caused by Supertyphoon Rolly while those based in Metro Manila are grateful for having been spared its wrath. Like a woman scorned, the typhoon unleashed raging waters and gusty winds against the residents of Catanduanes, Albay, Batangas, Mindoro, Quezon and Sorsogon. Braced for a heavy downpour and violent winds, nobody expected that houses and vehicles would be submerged in flood water or “lahar” (particularly in Albay). The Albayanos in the municipali-

ties of Daraga and Guinobatan expected a storm, not the wrath of Mayon Volcano! No matter the extent of the preparation, the outcome in general is still indeterminate. There is nothing much that an individual can do about the weather or the American election—although the latter seems a lighter load than the former—but there is something we can do within our “inner environment.” The same can be said about our health or career or business—peaks and valleys are inevitable and yet uncertain as to when they will occur in our lives. Outcomes can be variable, regardless of our anticipation or preparation. We tread on an uncertain path, sometimes relying on the “carrot and stick” approach of a driver of a donkey cart: We put a stimulus ahead of the donkey, and slave it out like a horse beaten by a stick focused on that prize to get things going as we intend. Some even go as far as contingency planning as they take into account each and every event along the way. But with all the music, drama and spectacle attending the circumstances in our lives, setting a correct mindset or a heart attitude is just as important as planning. For that part, there is something certain that we can control to embrace uncertainty. Joy Tan-Chi Mendoza, homeschooling personality and daughter of Senior Pastor Peter Tan-Chi (Christ Commission Fellowship) once shared that we should not make our worries about the “what ifs” or the “when” to determine our security and peace. Instead, we should put the Lord before us, as our “focus, hope, strength and destiny.” As we all continue to battle with the pandemic and other troubles seemingly hounding the different aspects of our lives that make the future uncertain, our tendency might be to confront our fear or anxiety. But if we set our

hearts, attention, and confidence in our Almighty God and make Him walk ahead of us, we can handle the uncertainty of the future, unshaken and less traumatized. For it is indelibly etched in the Bible in Psalms 16:8 that “I have set the LORD always before me; because he is at my right hand, I shall not be shaken.” Amid the uncertainty of the outcome of any election, supertyphoon (God forbid), or any other vicissitude or “storm” in our lives, one thing remains certain: Hope. Whenever we acknowledge His presence in all that we do, neither angst nor hopelessness will certainly come to us. In Hebrews 11:1, the Bible tells us, “Now faith is confidence in what we hope for and assurance about what we do not see.” Faith is simply having the confidence that events in the future, as part of His plan, will unquestionably happen. There is certainty in faith over the uncertainty of the future. I am learning that a living faith, as opposed to a ‘fingers crossed and-hope-it-happens’ type of faith, unquestioningly embraces any outcome, knowing that He is in total control. As we can certainly place our hope and confidence in Him, we can always face the uncertain outcome with peace regardless of how the next US president will govern, regardless of when another typhoon will come our way! After all, life was not designed to be storm-free. Rather, life can be storm-proof whenever we place our faith in Him. A former infantry and intelligence officer in the Army, Siegfred Mison showcased his servant leadership philosophy in organizations such as the Integrated Bar of the Philippines, Malcolm Law Offices, Infogix Inc., University of the East, Bureau of Immigration, and Philippine Airlines. He is a graduate of West Point in New York, Ateneo Law School, and University of Southern California. A corporate lawyer by profession, he is an inspirational teacher and a Spirit-filled writer with a mission. For questions and comments, please e-mail me

How the pandemic became an opportunity for new beginnings By Diana V. Lesaca

T was March 12, 2020 when Covid-19 disrupted my routine. The lockdown in our office happened a week before it was officially announced in the Metro. As of this writing, it has been more than seven months since a “new normal” for corporate life has unfolded. Today, however, I have become more comfortable with the new ways of working from home, learning and getting good at tech for meetings, kind of accepting the poor Internet situation in the country, and managing two offices remotely without ever stopping or closing down operations. Managing the situation required a series of steps that the teams and I had to work on, and I’m quite sure that most offices had their own version of the same difference with these experiences. The main goal was to look for ways to prevent disrupting the workflow and making the new normal work. So far, we have been doing it all, as if the world never stopped! I am taking the situation more lightly now, but the process to get to where we are was quite challenging and highly stressful. In fact, the first one-and-ahalf months were not the best time for me—with my mental health, my physical well-being and my eating habits all affected by the uncertainty of the times. This pandemic became my very own stress point, and I am quite sure that everyone got hit with varying degrees of stress, depending on their level of consciousness. Up to this point, there may be people still suffering. Some may have adjusted but continue to experience sleepless nights and anxieties, or encountering a combination of emotions. There may be a few, though, that are possibly thriving under this situation. When it comes to stress, I have learned from the books and teachings of Dr. Joe Dispenza—a renowned international lecturer, researcher, corporate consultant, author, and educator—that human beings are not designed to make it through extended periods of crisis. He says that “thought alone can trigger the human stress response—and keep it going. And every time we knock the body out of chemical balance, that’s called stress. The stress response is how the body innately responds when it’s

knocked out of balance, and what it does to return back to equilibrium.” Seven months is quite long in my book. And truth be told, even before this, we have already been dealing with our own issues and problems, and this pandemic exacerbated them. Everyone’s stress level is likely shooting up—or down—depending on the level of awareness. Unfortunately for most people, this prolonged period of stress has become their norm, unable to fully recover from it. I consider myself one of the lucky ones to manage this crisis like a true PR practitioner. Being armed with crisis management know-how has helped me mitigate the effects of Covid-19 in our business operations, bringing about pragmatic solutions to effectively and smoothly run the two agencies (PR and advertising) under my stewardship. It’s not easy to operate daily, and making major decisions requires inner strength. To function well and be at the top of your game, you have to be at your best. To effectively lead an organization, you must be equipped not only with experience and knowledge but to be virtually “super human” in these challenging times. You must be greater than the constraints of the environment to execute your plans. On a personal level, I would like to think that I was fortunate to have been trained to handle this kind of crisis headon with a different skill set. I have been undergoing years of self-discovery and preparation, enabling me to know my authentic self. I believe that there are no accidents and I was just being prepped to handle this as gracefully as I can. What I have learned so far has carried me through these difficult times. Just like in the movies, I had a series of spiritual teachers that over time has allowed me to evolve and expand. And now, the test is to apply that knowledge in this unfolding saga we call Covid-19.

So, allow me to share the following tips that may help in alleviating the stress and anxiety that everyone is going through at this time. Remember, prolonged stress is not part of our DNA, and if people allow stress to continue, unwanted results like diseases could happen. Meditation. I started meditating years ago but became an avid meditator late last year because I signed up to a Dr. Joe Dispenza meditation workshop that was supposed to be held in Singapore in April (which was moved to October and now cancelled). Part of the assignment was to meditate every day, and since then, I have been practicing meditation every day. I do my work seriously and it has become part of my life. Without meditation, my day seems incomplete. And yes, I do wake up early for this and it’s the first thing I do. I meditate for 2030 minutes or more a day. This practice helps me set my intentions at the start of the day, which makes me the ultimate deliberate creator. It helps me be aligned and heart-centered, which makes all decision-making an inspired action. I never doubt my decisions when I am in the zone. Meditating helps me be in the moment as often as I can; to be self-aware of my actions and emotions. My emotion is the barometer I use to check my alignment. This helps me navigate my life in general and as far as I know, I am balanced most times. Be aware of your thoughts. Everything starts with a thought! I have been reminding people that thoughts are very powerful and words have energy. When thoughts are spoken, they usually come into existence especially if there are powerful emotions attached to such thoughts. The more powerful the emotions, the stronger the possibility that it will happen. It’s abracadabra—from the Aramaic phrase avra kehdabra, meaning “I will create as I speak.” Awareness of your thoughts is quite crucial during this crisis, as this would set the kind of environment you will experience. Positive thoughts generate positive results and vice versa. So don’t bring to existence thoughts that you would not want to happen. If I were you, I’d remain neutral on sensitive issues. And should unwanted thoughts

overtake you, sleep or take a nap to reset your mind. Regulate the way you consume news and stories. During a crisis mode, you cannot help but be glued to the news. For instance, updates, Covid stats, depressing results—all of which can affect your well-being. The news may consume you in the process, which may result in more anxiety. I suggest that when you wake up in the morning, try not to immediately read the news, e-mails, social media or anything that may affect your day. It is important that you meditate and align first before you go about your day. You see, by being aligned, bad news would have lesser or no impact on you. News is just there to inform you. Be grateful always. Part of my meditation is a list of things that I am grateful about. With gratitude, the heart opens up to an abundance of experiences that you are grateful about. Gratitude just keeps giving back. Love, care and compassion for self and others. Less judgement towards yourself and others is the way to go. Each one is going through a journey based on how one designed it, and so wherever this journey takes you, I just want you to remember to be kind and compassionate to yourself and others no matter what the results are. Whatever you experienced is what was meant to happen. Your life is based on how you perceive it, and you don’t need to add to negativity by judging yourself. I have embraced the pandemic as the catalyst for deepening my selfawareness, resulting in an expanded and evolved version of myself, to be the best expression of what I can be. To be honest, it was really like a reboot and upgrade for me. Hopefully, this, too, would be true with the world. The pandemic provided an unbelievable respite to give humanity a chance to reflect on the past, to take to heart the now and decide the kind of future we want for us. This is an opportunity for new beginnings, defining what really matters, and creating a better world for us and the generations to come.

Diana V. Lesaca is the chairman and president of PR and communications firm WSP Inc. This was originally published on NewsFeed360.com, an online content platform powered by WSP Inc.

A12 Monday, November 9, 2020

‘Business clime, not fiscal woes, hounding oil’

By Bernadette D. Nicolas

@BNicolasBM

INANCE Secretary Carlos G. Dominguez III said oil refineries are closing worldwide due to the tough competition and not because of the fiscal environment.

Dominguez made the remark after it was reported days ago that Shell Corp. is also shutting down its Convent Refinery in Louisiana, United States, months after it was put up for sale. The company said the decision was part of its global strategy to “invest in a core set of uniquely integrated manufacturing sites that are also strategically positioned for the transition to a low-carbon future.”

Responding to this development, Dominguez said in a Viber message to reporters: “Another refinery closing—it’s not about the fiscal environment but rather ability to compete with larger integrated end-to-end refineries with petrochemical complexes.” He added, “The Economics of oil refining is drastically changing.” To recall, Pilipinas Shell Petroleum Corp.’s (PSPC) announced in August its decision to cease refinery operations in Tabangao, Batangas. Not long after, the upstream company of Shell Philippines announced it was letting go of its 45-percent stake in the Malampaya gas-to-power project. Fitch Solutions has also earlier said the closure of PSPC refinery would have a substantial impact on the country’s economy. More than a week ago, the country’s remaining oil refiner Petron Corp. also announced the strong possibility of shutting down soon its Bataan refinery, which supplied less than 30 percent of the country’s total demand last year. This, as Petron Corp. President and Chief Executive Officer Ramon S. Ang said they have been struggling to keep the refinery business afloat. Ang cited excessive taxes slapped by the government, saying Petron is being put in a situation where it makes sense to just import finished petroleum products rather than import crude oil and have it refined in the country. He said Petron’s concern on tax imbalance in the country was already raised to the Bureau of Customs, the Bureau of Internal Revenue, Department of Trade and Industry, Department of Energy, among others. But the only recourse he could think of is for Congress to amend the law. Responding to Ang’s remark, Dominguez also said last week there is no need to change the country’s tax laws on this, and that it is “actually a supply chain issue rather than a tax issue.” The country’s finance chief also said big oil companies worldwide have been shutting down their refineries in various parts of the world. For its part, the Department of Energy has said they have yet to receive any notification from Petron Corp. on its alleged plan to permanently close its refinery in Limay, Bataan, although it said it is looking at the company’s taxation concerns raised in coordination with the Department of Finance. At the same time, it also said it is evaluating how the closure scenario would impact pricing, as well as the country’s energy security.

Palace, lawmakers: Biden win’s a good thing for US-PHL ties

ALACAÑANG said on Sunday the country will keep its “long-standing” diplomatic relations with the United States under the administration of President-elect Joseph “Joe” Biden. This as the international observers are now eagerly awaiting how Biden intends to address the issues which plagued the term of his predecessor, US President Donald Trump. In a statement on Sunday, Presidential spokesman Harry Roque said the country will continue its strong cooperation with its traditional international superpower ally. “On behalf of the Filipino nation, President Rodrigo Roa Duterte wishes to extend his warm congratulations to former Vice President Joseph ‘Joe’ Biden on his election as the new President of the United States of America,” Roque said. “We are committed to further enhancing the relations with the United States under the Biden administration,” he added. US President Trump, who is seen to have cordial relations with Duterte, lost his reelection bid in a tight race that reflected how deeply polarized America had become. Roque earlier said Duterte is open to fostering a similar friendship with Biden.

Good sign

SEVERAL Filipino bishops hope the victory of Biden, who is a Roman Catholic, can translate to more pro-life policies in the US. “If he is a true Catholic he should follow God’s teaching about the sanctity of each human life from conception to natural death,” Apostolic Administrator of Manila Broderick Pabillo said. Ozamiz Archbishop Martin Jumoad said he hope Biden “will restore morality in the US by outlawing abortion. “A nation that kills its own children is a nation without hope. Let’s pray for the new President-elect. May the Holy Spirit guide his presidency,” Jumoad said. Meanwhile, Balanga Bishop Ruperto Santos expects the US will enforce more progressive migration policies under the leadership of Biden. “We foresee good signs, a relief especially for the so called ‘dreamers.’ Immigrants could be secured citizens, skilled laborers could travel and seek work, and reunification of children separated from their families because of work,” the prelate said. The Biden leadership will restore closer relations between the US and the Philippines while opening opportunities for Filipinos, and will thus be good for the Philippine economy, in the view of House Committee on Ways and Means Chairman Joey Sarte Salceda. Continued on A2

Companies BusinessMirror

www.businessmirror.com.ph

Monday, November 9, 2020

Robinsons Land sets sights on REIT listing

By VG Cabuag

@villygc

roperty developer Robinsons Land Corp. (RLC) said it is listing its own real estate investment trust (REIT) company next year and will include several of its existing office buildings in the new entity.

In its disclosure, the company said it has 25 office buildings that it can include in the REIT, with a net leasable area of over 600,000 square meters. It did not give further details on its plans. For the three quarters of the year, the company’s income plunged 39 percent to P4.4 billion from last year's P7.31 billion. Revenues fell 36 percent to P20 billion from last year's P31.18 billion. For the July-to-September period alone, the company earned P717 mil-

lion in income, some 78 percent lower than the previous year's P3.3 billion. The company’s development portfolio, which accounted for 49 percent of consolidated revenues, increased by 33 percent in the nine months to P9.84 billion. Its growth, however, was offset by the 33-percent fall in its investment portfolio at P10.17 billion. “We are encouraged by the steady recovery of our businesses on the back of improving trends seen on a quarterly basis, as well as in October. Increasing customer engagement

Ayala unit profit down on weak sales P

roperty developer Ayala Land Inc. said its income in January to September slid by 73 percent to P6.36 billion from last year's P23.21 billion, as the pandemic continued to hurt its businesses. The country’s second-largest property developer said revenues for the period were cut in half to P63.32 billion from last year's P121.66 billion. For the third quarter alone, the company reported a 77-percent drop in income to P1.84 billion from last year's P8.05 billion. Revenues, meanwhile, fell 42 percent to P22.12 billion from last year's P38.44 billion. “We’ve seen, however, improvement in majority of our business lines in the third quarter as pandemic-re-

lated restrictions gradually eased. We anticipate favorable developments moving forward as the reopening of the economy gains traction and have started to introduce new product inventory in our estates,” company president and CEO Bernard Vincent O. Dy said. Revenues from property development for the three quarters amounted to P40.6 billion, down by half from last year due to lower project bookings and limited construction activity. With the resumption of construction activities, property development revenues more than doubled to P15.7 billion in the third quarter from P7.6 billion in the second quarter.

Residential sales reservations for the period amounted to P60.8 billion, also lower by more than half from the previous year due to the limited selling activity during the quarantine periods. Reservations in the third quarter reached P22.5 billion, a 66-percent improvement from the previous quarter as demand for residential products picked up. Commercial leasing revenues also fell by 37 percent to P17.3 billion given restricted mall and hotel operations and the temporary closure of resorts during the period. In the third quarter however, mall revenues started to rebound, increasing by 29 percent to P1.5 billion on a quarterly basis as the easing of restrictions re-

sulted in a higher foot traffic of 30 to 35 percent. The company said its capital expenditures for the period reached P45.3 billion, or about 65 percent of the revised full-year budget of P69.8 billion, and were allocated mainly for residential developments and commercial leasing assets. The company was able to launch 3 sequel projects with a total value of P2.2 billion in the third quarter. These were Ayala Land Premier’s Andacillo Phase 3A, Amaia Scapes Bulacan Series 4A and additional inventory in Bellavita Alaminos 2. These launches saw a significant takeup in spite of the limitations of the quarantine period. VG Cabuag

Villar Group EPNS status granted to LNG projects launches delivery app T

he Villar Group said it has formally launched its online delivery service under the brand Get All, as part of the group's efforts to meet the high demand for transport services. The company said it has developed Get all as a full mobile phone application. It also rebranded it from its previous name Getmo, which started accepting bookings mainly through Viber messenger. “Now that more businesses can operate and the economy has been reopened, Get All is finally launching its app both for customers and partner riders,” the company said. “Seeing as all the brands under the Villar Group will also be available on the next phases of its development, the new name is more apt for the app. Meanwhile, the feature that will be initially available on the app is parcel delivery, where customers can arrange delivery of items from small sizes such as documents, food, clothes, supplies to bigger and bulkier items like appliances and raw materials.” Customers will be able to book a vehicle by selecting parcel delivery icon, putting in the pickup and delivery details, selecting the vehicle type needed based on the items to be delivered—motorcycle, MPV 300, MPV 600, or light truck. As soon as a rider is matched to the order, customers will be able to monitor the status of the delivery through the app as well. Along with the launch of the customer app is the Rider app, where registered Get All riders will accept delivery and track bookings, as well as connect with customers. Once a rider is logged in as available, he can see deliveries booked and select which order he wants to accept. Once accepted, the rider can start the delivery and update status from pick up to drop off. Meanwhile, other services offered by Get All such as purchase service, Rider for a Day and shuttle service can be availed through their web site, www. getall.com.ph. The website shows all services offered by Get All, information on how to be a partner rider and merchant, and includes a messenger bot where customers can send inquiries directly. Rider for a Day is a unique offer from Get All that allows for multiple drop-offs and multiple rides, with exclusive use of the designated rider for eight hours, as long as total distance of deliveries is not more than 50 kilometers. This service aims to maximize deliveries per trip, making it possible to serve multiple customers in a day without having to book a rider each time. “This service aims to support MSMEs [micro, small, and medium enterprises] with its rate of P1,000 for motorcycle vehicle. Rider for a Day is also available for sedan cars, van, and light truck vehicles.” VG Cabuag

he liquefied natural gas (LNG) projects of Texasbased Excelerate Energy L.P. and Batangas Clean Energy, Inc. of the LT Group were recently declared by the Energy Investment Coordinating Council through the Department of Energy (DOE) as “Energy Project of National Significance” (EPNS). Excelerate’s LNG import terminal off Batangas Bay would come online in the second quarter of 2022. The executive president of Excelerate’s local partner, Topline Energy, said construction of its proposed open-access LNG import terminal may cost $230 million. It is set to submit to the DOE an application for a Permit to Construct, Expand, Rehabilitate and Modify its proposed LNG facility. Meanwhile, Lucio Tan’s group secured 2 EPNS for its proposed 1,100megawatt (MW) gas power plant and its LNG import facility with a capacity of 3 million tons per annum.

Batangas Clean Energy may spend P37.553 billion for the entire project to be put up at Pinamucan Ibaba in Batangas City and ready to go online possibly in the first quarter of 2025. The proponent firm will be undertaking the project with American firm Gen X Energy, which is affiliated with private equity firm The Blackstone Group. Two other LNG players—Australian firm Energy World Corp. and Lopez-led First Gen LNG Corp.— have already secured their EPNS certificates. The DOE also issued an EPNS permit to Bac-Man Geothermal, Inc., a subsidiary of Energy Development Corp. of the Lopez group, for its Bac-Man expansion project. The four EPNS were issued last October 30. The type of EPNS certificates issued Batangas Clean Energy and Excelerate were tagged as “Commerciality” while that of BGI was labeled as “Pre-Development Phase.”

Out of the 393 EPNS applications, 149 were certified as EPNS, 139 were denied, 76 failed to comply with the necessary requirements and 35 applications are still under evaluation. The total estimated investment cost for the 149 issued CEPNS amount to P794.52 billion, according to the latest data of the DOE dated November 6 this year. EPNS are significant energy projects for power generation, transmission, and/or ancillary services including those required to maintain grid stability and security, and which are in consonance with the policy thrusts and specific goals of the DOE’s Philippine Energy Plan. The issuance of EPNS certificates is stipulated under Executive Order 30, which states that concerned government agencies shall act upon applications for permits not exceeding within a 30-day period. If no decision is made within the specified processing timeframe, the application is deemed approved by the concerned agency. Lenie Lectura

Ayala chief vows continuous support for MSMEs

yala Corp. Chairman and CEO Jaime Augusto Zobel de Ayala encourages “like-minded” business groups to help resuscitate micro, medium, and small enterprises (MSMEs) to preserve and create jobs. In this year’s Sustainability Summit hosted by the UN Global Compact (UNGC) Philippines, National Economic and Development Authority Undersecretary Rosemarie Edillon said the reopening of the economy requires a whole-of-nation approach, where enterprises hold hands while recovering from “closure of businesses, increase in the number of the unemployed and the underemployed, and hunger and poverty.” UNGC CEO and Executive Director Sanda Ojiambo, meanwhile, said that accelerating recovery would require focusing on MSMEs, which account for more than 90 percent of the economy of most countries and have been the hardest-hit sector by the pandemic. “Partnerships are now more important than ever. We will only recover better if we all work together,” she added. In his keynote speech, Zobel, 2017 United Nations Sustainable Development Goals Pioneer, urged businesses

to increase collaboration on issues of overarching national importance. “I believe that all businesses, big or small, stand to benefit during this time if we all collaborate on a shared goal rather than stick to the traditional business instinct of maximizing competitive advantage,” he said. Zobel also joined Ojiambo and Edillon in stressing the role of small enterprises as “engines of employment and growth”—the very reason why the Ayala Group of Companies has rolled up its sleeves to help MSMEs, which account for 99.5 percent of businesses and 63 percent of jobs in the Philippines. “I strongly believe that large enterprises should actively help maintain the dynamism of this ecosystem of businesses of all sizes,” he said. “Businesses can only do well and maintain their relevance and longevity if they're also able to do good for their customers, partners, and their communities. We at Ayala have long been advocates of this type of thinking.” At the onset of the pandemic and quarantine, the Ayala Group took the pain together with the 250,000 small enterprises within its ecosystem via rent condonation, waiving of fees, and

payment extension. To this day, Ayala Land offers significant rent support for partner merchants (P5.6 billion as of end-September). BPI BanKo waives P24-million of fees and offers loan restructuring to 5,500 businesses. Meanwhile, Manila Water and Globe implement flexible payment terms for utility bills. Even Ayala group employees took money out of their own pockets and raised P149 million to support staff under no-work, no-pay arrangements. Beyond financial assistance, the Ayala Group also serves its MSME ecosystem by offering innovative products and services, engaging in joint projects, sharing industry expertise, and continuously investing in startups through venture capital. AC Health offers UnliKonsulta cards to entrepreneurs who want to keep their doors open but worry about their employees’ health. Manila Water engages with 1,600 MSMEs as business partners for materials and labor, alongside serving over 56,000 small businesses within its concession area. Most recently, the Ayala group formed the Ayala Enterprise Circle (https://www.facebook.com/ayalaenterprisecircle) to upskill, connect, and enable MSMEs.

and the sustained interest from external partners give us confidence that business will continue to pick up in the coming months. For the remainder of the year, we will continue to focus on operational recovery while implementing strict safety protocols,” RLC President and CEO Frederick Go said. The commercial centers division recorded improvements in operational gross leasable area, number of operating tenants and foot traffic in the third quarter, but the numbers are still far

from the pre-pandemic levels. For the nine months of the year, the company registered P4.80 billion in revenues. RLC continues to provide rental concessions and discounts to support partner tenants during the pandemic. Through the sustained operations of BPOs and the strong demand for flexible workspaces, the company said its Office Buildings Division continues to thrive amid the economic downturn, growing revenues by 20 percent to P4.34 billion in January to September.

‘AboitizPower to reboot overseas plans in 2022’ By Lenie Lectura @llectura

BOITIZ Power Corp. will resume exploring overseas investments, particularly in developing nations, by 2022. “As you know, we have deferred our move in Vietnam during the pandemic. We see ourselves back by 2022 into the countries that we have chosen pre-pandemic,” said Aboitiz Power president Emmanuel Rubio. Last April, the power firm terminated its planned acquisition of Vietnam’s Mekong Wind due to an undisclosed condition that was not met on time. AboitizPower subsidiary, AboitizPower International Pte. Ltd., was supposed to fully acquire Mekong Wind Pte. Ltd. from Armstrong Southeast Asia Clean Energy Fund Pte. Ltd. (AAM). The supposed deal was worth $46 million. Mekong Wind holds a 99-percent direct interest in Dam Nai Wind Power, which owns and operates the 39.4-megawatt (MW) onshore wind power facility in Ninh Thuan Province, Southern Vietnam. Dam Nai Wind is one of the first wind power projects in Vietnam to have been successfully brought online with commercial operations having commenced in late 2017. AboitizPower’s overseas plans included Myanmar and Indonesia. “Together with our partners, we are exploring some projects in Indonesia. If ever there would be partners then we have to look for synergies, we’ve been exploring projects that we can be 100 percent or majority, those are the preferences,” Rubio had said. “We are looking for projects that are eligible for FIT (feed-in-tariff) and they are wind and solar projects, some operating, some for develop-

ment.” Rubio also mentioned that liquefied natural gas (LNG) is now part of the company’s future plans to boost its power portfolio. “It’s an option we are seriously considering and we have created a team that will look at this option. In the next 10 years, we expect that gas will form part of our portfolio for baseload supply." Meanwhile, the company is in talks with two firms interested to purchase its 8.8megawatt (MW) biomass power plant operated by its wholly-owned subsidiary, Aseagas Corporation (Aseagas). “Aseagas is still in the market but we are in discussions with an entity interested on purchasing the major equipment on site. We are also in discussion with an entity interested on the land,” said Rubio. He did not identify the two interested buyers. The biomass plant in Lian, Batangas ceased operations in November 2017 due to unavailability of the supply of organic effluent wastewater from Absolut Distillers Inc. This organic material was used to produce electricity upon conversion into renewable energy. Rubio had said the total value of the asset is estimated at P3.7 billion, which represents Aseagas’ equity investment of P3.45 billion and the company’s remaining obligations of around P250 million. It tapped asset disposal expert Astoca to sell the biomass power plant. Aseagas is a subsidiary of Aboitiz Power, through Aboitiz Renewables, Inc., its holding company for its investments in renewable energy. Aboitiz Power, meanwhile, is the holding company for the Aboitiz Group’s investments in power generation, distribution, and retail electricity services.

‘URC-Thailand among the best companies to work for in Asia’

niversal Robina Corp.’s (URC) subsidiary in Thailand has been named as among the “Best Companies to Work for in Asia,” for a work culture that values its employees as key resources. The award was given by HR Asia, regarded as an authoritative regional publisher on human resources. URC (Thailand) Co. Ltd. was among 38 companies to be recognized out of a field of 138 firms. The companies were selected through a survey that measured different aspects of employee engagement. These covered culture and ethics, leadership and organization, active initiatives, emotional engagement, employee intention and motivation, behavior and advocacy, collective consciousness, workplace sentiment and team dynamics. “One of the reasons for our company’s sustainable momentum is the high priority we place on all our employees as key resources,” said Matthew Dy, URC-Thailand’s HR director, who received the award. “We promote a culture of openness and collaboration where all employees are always given the opportunity to develop their individual performance and contribute to the business objectives,” he said. Dy said this is done via a “robust performance management system, career planning and individual development plans” aimed at creating a “future-ready organization.” “We cultivate a sense of belongingness through

Matthew Dy, HR Director of URC (Thailand) Co., Ltd. receives the award from Virote Sirichanthanont, VP of Government and International Relations of the Personnel Management Association of Thailand. Contributed Photo relevant workplace initiatives, advocating social responsibility and consistently instilling our core values. This ensures that our employees continue to deliver high-quality products and services that genuinely bring delight and joy for our consumers,” he said. Established over 20 years ago, URC Thailand manufactures and exports brands such as Jack ‘n Jill Fun-O, Tivoli, Roller Coaster, Lausanne, Dewberry, Dynamite and Lush. It has a factory, research and development center and warehouses at the Samutsakorn Industrial Estate, and a head office in Bangkok.

Companies BusinessMirror

Monday, November 9, 2020

PSE STOCK QUOTATIONS

November 6, 2020

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

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

44.15 91.95 78.6 23.3 10.06 41.75 27.45 52 17.14 100 58.65 0.8 28 0.55 3.44 1.11 0.3 0.57 164 1950 1.02

45.2 92 78.65 23.4 10.08 41.85 27.6 52.5 17.2 100.6 59.55 0.84 28.1 0.63 3.57 1.13 0.31 0.59 165 1980 1.09

44.4 93 79 23.2 10.12 42.75 27.9 52.2 17.2 102.2 59.85 0.8 28.1 0.6 3.45 1.11 0.3 0.56 164 1950 1.02

44.4 93.5 79.4 23.3 10.16 42.75 28.2 52.2 17.2 102.2 59.85 0.84 28.1 0.64 3.57 1.11 0.31 0.59 164 1980 1.09

44.05 90.1 77.35 23.1 9.98 40.9 27.25 52 17.14 99.6 58.55 0.8 28 0.59 3.45 1.1 0.295 0.55 160 1950 1.02

44.15 92 78.65 23.3 10.08 41.75 27.6 52 17.2 100 58.6 0.84 28.1 0.64 3.57 1.1 0.31 0.59 164 1980 1.09

1100 6873880 3366710 83100 959200 6055500 381000 560 45100 1067110 12390 25000 851800 65000 54000 67000 920000 101000 890 215 3000

48595 630140264.5 264842306 1923625 9643554 252600335 10508330 29214 775322 107261091 728860.5 20520 23850990 39680 186420 74260 274300 56670 144420 419700 3190

-4415 -105538963.5 74064641.5 -243075 2299178.0003 -125858780 -1147985 12040 2350168.5 34544.5 8400000 -1180 113560 360750 -

INDUSTRIAL AC ENERGY 3.81 3.82 3.78 3.82 3.75 3.81 7077000 26833200 ALSONS CONS 1.34 1.36 1.33 1.36 1.32 1.34 1517000 2037240 ABOITIZ POWER 27.75 27.9 27.45 28.3 27.15 27.75 1502800 41689860 BASIC ENERGY 0.22 0.225 0.227 0.24 0.218 0.22 7850000 1769210 FIRST GEN 29.2 29.7 29.3 29.7 28.1 29.7 2284600 66127765 FIRST PHIL HLDG 66 66.5 64.5 66.5 64.5 66.5 31930 2102533 MERALCO 300 300.2 297.8 301 296.8 300.2 272200 81331718 MANILA WATER 14.08 14.1 14.2 14.2 14.1 14.1 808000 11417504 PETRON 3.1 3.11 3.11 3.12 3.09 3.1 2628000 8166390 PETROENERGY 3.5 3.55 3.5 3.55 3.5 3.55 91000 320700 PHX PETROLEUM 12.82 13.14 13.1 13.18 12.6 13.14 673200 8692922 PILIPINAS SHELL 16.2 16.3 16.4 16.4 16.06 16.2 658900 10659684 SPC POWER 10.96 10.98 11.04 11.04 10.8 10.96 402000 4394000 VIVANT 13.98 14.18 14.14 14.14 14.14 14.14 700 9898 AGRINURTURE 8.01 8.12 7.85 8.14 7.85 8.12 370900 2972991 AXELUM 2.88 2.9 2.91 2.91 2.86 2.9 1172000 3383830 CNTRL AZUCARERA 12.12 12.4 12.2 12.4 12 12.4 2500 30450 CENTURY FOOD 17.18 17.2 17.5 17.5 17.14 17.18 5007400 86057928 DEL MONTE 5.03 5.09 5.1 5.1 5.01 5.08 85600 435085 DNL INDUS 6.54 6.56 6.45 6.59 6.31 6.54 4352000 28170590 EMPERADOR 9.96 10 10 10 9.87 10 1161300 11581677 SMC FOODANDBEV 63 63.8 63.95 64 63 63 266030 16850156.5 ALLIANCE SELECT 0.64 0.65 0.65 0.65 0.63 0.64 23000 14750 FRUITAS HLDG 1.39 1.4 1.37 1.45 1.36 1.4 27151000 38336270 GINEBRA 49.05 49.1 50.9 50.9 48 49.1 37820 1868177.5 JOLLIBEE 196.2 196.8 194.4 197 188.1 196.8 1756460 341265290 MACAY HLDG 7.54 7.91 7.92 7.92 7.92 7.92 100 792 MAXS GROUP 6.2 6.22 6.34 6.34 6 6.22 799500 4941243 MG HLDG 0.145 0.147 0.145 0.145 0.145 0.145 110000 15950 SHAKEYS PIZZA 7.35 7.43 7.45 7.45 7.12 7.35 919000 6716317 ROXAS AND CO 1.21 1.22 1.21 1.23 1.21 1.22 2950000 3588730 RFM CORP 4.71 4.84 4.84 4.84 4.8 4.8 3000 14440 ROXAS HLDG 1.81 1.84 1.88 1.88 1.8 1.83 86000 157470 SWIFT FOODS 0.11 0.117 0.116 0.117 0.109 0.117 1230000 141660 UNIV ROBINA 141 141.4 143.1 144.9 140.6 141 1277870 180980342 VITARICH 0.8 0.81 0.8 0.81 0.79 0.81 4965000 3969300 VICTORIAS 2.2 2.33 2.2 2.2 2.2 2.2 7000 15400 CONCRETE A 51.7 52 51.7 53 51.7 52 1580 82132.5 CONCRETE B 52.05 55.9 56.5 56.5 51.2 55.9 910 47848.5 CEMEX HLDG 1.62 1.63 1.67 1.67 1.61 1.63 19380000 31668110 DAVINCI CAPITAL 4.35 4.47 4.27 4.35 4.27 4.3 38000 163590 EAGLE CEMENT 15.6 15.62 15.32 15.6 15.1 15.6 2028300 31398388 EEI CORP 7.25 7.26 7.3 7.3 7.2 7.25 501300 3633663 HOLCIM 5.7 5.73 5.81 5.86 5.7 5.7 1547100 8866875 MEGAWIDE 7.53 7.54 7.68 7.68 7.45 7.54 1948300 14697582 PHINMA 8.16 8.3 8.29 8.3 8.29 8.3 2800 23213 TKC METALS 0.75 0.78 0.78 0.78 0.75 0.75 194000 147580 VULCAN INDL 0.79 0.8 0.78 0.8 0.77 0.8 764000 600950 CHEMPHIL 122 159.6 122 122 122 122 40 4880 CROWN ASIA 1.97 2 2.01 2.01 1.97 1.97 95000 188580 EUROMED 1.93 1.95 1.95 1.96 1.92 1.93 514000 995890 MABUHAY VINYL 4.3 4.4 4.39 4.39 4.39 4.39 3000 13170 PRYCE CORP 4.2 4.3 4.3 4.3 4.3 4.3 5000 21500 CONCEPCION 20.8 21.45 21.4 21.45 20.7 21.45 157700 3382115 GREENERGY 2.49 2.5 2.52 2.53 2.47 2.5 9570000 23982310 INTEGRATED MICR 7.19 7.21 7.09 7.4 7.09 7.21 878500 6314093 IONICS 1.02 1.05 1.01 1.07 1.01 1.02 1034000 1065180 PANASONIC 5.12 5.5 5.5 5.5 5.5 5.5 1100 6050 SFA SEMICON 1.53 1.54 1.54 1.55 1.51 1.54 881000 1354670 CIRTEK HLDG 5.71 5.75 5.86 5.92 5.69 5.71 6669900 38509841

1240530 -646410 10861140 -15585695 -27214.5 -1716288 -89812 -3941640 -496926 -182249.9999 -202250 -97550 18545454 -105924 902908 135424 -8085163 1199290 -536957.5 56479955 1045072 308402 1059300 -36000 6679918 810000 -32969.9997 -1549040 -535390 -3311370 -5039379 3960 -78000 -0 1501880 -202776 -79779

HOLDING & FRIMS ABACORE CAPITAL 0.5 0.51 0.49 0.51 0.475 0.5 11810000 5771400 ASIABEST GROUP 8.18 8.68 8.19 8.8 7.74 8.18 64100 524796 AYALA CORP 804 805 795 812 780 805 533260 427245525 ABOITIZ EQUITY 46.65 47.6 46.4 47.6 45.65 47.6 1856400 87889625 ALLIANCE GLOBAL 8.3 8.31 8.45 8.46 8.22 8.31 25916500 215462861 AYALA LAND LOG 2.78 2.79 2.8 2.85 2.75 2.79 1062000 2958320 ANGLO PHIL HLDG 0.64 0.65 0.64 0.65 0.64 0.65 96000 61860 ATN HLDG A 0.95 0.96 0.97 0.97 0.94 0.95 2767000 2641060 ATN HLDG B 0.94 0.97 0.94 0.97 0.94 0.97 130000 124280 COSCO CAPITAL 5.35 5.4 5.47 5.51 5.35 5.35 1505300 8092425 DMCI HLDG 4.86 4.88 4.96 4.98 4.77 4.86 16141000 78431810 FILINVEST DEV 9.4 9.48 9.48 9.48 9.4 9.4 24300 229136 FORUM PACIFIC 0.21 0.22 0.21 0.22 0.21 0.22 210000 45200 GT CAPITAL 499.2 500 490 512.5 486 500 1029810 511252510 HOUSE OF INV 3.4 3.58 3.4 3.43 3.35 3.4 426000 1444000 JG SUMMIT 70.6 71.85 70 71.95 67.1 71.85 2361580 167186581 LODESTAR 0.75 0.76 0.76 0.79 0.74 0.78 1181000 899420 LOPEZ HLDG 2.62 2.63 2.63 2.66 2.6 2.62 735000 1926320 LT GROUP 11.9 11.98 12.4 12.4 11.82 11.9 3766300 45254320 MABUHAY HLDG 0.5 0.52 0.54 0.54 0.49 0.52 492000 248200 METRO PAC INV 4.13 4.14 4.14 4.17 4.06 4.13 33958000 140251060 PACIFICA HLDG 3.9 3.95 3.47 4.3 3.47 3.95 180000 686980 PRIME MEDIA 0.8 0.82 0.79 0.82 0.79 0.8 59000 47230 SOLID GROUP 1.03 1.06 1.09 1.1 1.05 1.06 324000 352070 SYNERGY GRID 180 209 172.5 220 172.5 180 8300 1502140 SM INVESTMENTS 1005 1010 1029 1029 991 1010 416640 421212462.5 SAN MIGUEL CORP 103.9 104 104.8 105.9 104 104 703420 74059191 SOC RESOURCES 0.73 0.76 0.73 0.76 0.72 0.76 556000 410590 TOP FRONTIER 126 129 130 130 126 126 6400 813070 WELLEX INDUS 0.212 0.218 0.214 0.219 0.207 0.218 1490000 316710 ZEUS HLDG 0.143 0.145 0.147 0.147 0.14 0.143 1010000 147420

-774500 16300 63030605 31288465 65032982 778550 -16900 95030 -1356171 -610170 37760 240357817 -646600 61058772.5 -1295830 -28091400 10966880 333200 21600 174591090 -49956911 -

PROPERTY ARTHALAND CORP 0.58 0.59 0.59 0.59 0.57 0.59 2445000 1417810 121800 ANCHOR LAND 7.55 8.28 7.54 8.29 7.54 8.29 3100 23449 AYALA LAND 34.8 35 34.1 35 33.7 35 9633800 332637630 90239910 ARANETA PROP 1.04 1.1 1.04 1.04 1.04 1.04 1000 1040 AREIT RT 25.55 25.6 25.65 25.65 25.55 25.6 1138800 29153560 -14922460 BELLE CORP 1.48 1.5 1.52 1.52 1.46 1.5 289000 432750 -5940 A BROWN 0.81 0.82 0.82 0.82 0.8 0.82 1909000 1545800 -34020 CITYLAND DEVT 0.79 0.81 0.79 0.79 0.79 0.79 49000 38710 CROWN EQUITIES 0.138 0.139 0.137 0.138 0.134 0.138 10350000 1406850 639460 CEBU HLDG 5.8 5.9 5.98 5.98 5.8 5.9 10900 63306 CEB LANDMASTERS 4.68 4.69 4.66 4.76 4.62 4.68 311000 1454230 CENTURY PROP 0.355 0.365 0.36 0.365 0.355 0.36 9440000 3380300 24900 CYBER BAY 0.39 0.395 0.39 0.395 0.38 0.39 4550000 1769950 DOUBLEDRAGON 13.88 13.9 14 14.06 13.82 13.9 820200 11396966 -4888714 DM WENCESLAO 5.31 5.39 5.36 5.4 5.21 5.39 325600 1732183 -264448 EMPIRE EAST 0.285 0.295 0.29 0.295 0.285 0.295 1040000 299900 EVER GOTESCO 0.086 0.089 0.089 0.089 0.089 0.089 100000 8900 FILINVEST LAND 1 1.01 1.01 1.02 0.99 1 31958000 32067900 1276310 GLOBAL ESTATE 0.76 0.77 0.77 0.77 0.76 0.76 1580000 1206600 8990 HLDG 7.52 7.7 7.9 7.99 7.51 7.7 32500 252227 PHIL INFRADEV 1.53 1.54 1.52 1.54 1.48 1.54 3457000 5209130 15000 MEGAWORLD 3.22 3.24 3.27 3.29 3.12 3.24 46072000 147090540 -53236170 MRC ALLIED 0.445 0.45 0.46 0.465 0.43 0.45 131380000 58697650 575400 PHIL ESTATES 0.37 0.4 0.41 0.41 0.37 0.37 220000 85800 PRIMEX CORP 1.15 1.16 1.14 1.18 1.1 1.15 1275000 1437810 ROBINSONS LAND 16.8 16.82 16.4 16.8 16.1 16.8 4342300 72088636 13877975.9999 PHIL REALTY 0.26 0.265 0.255 0.27 0.249 0.265 3350000 872440 ROCKWELL 1.51 1.54 1.53 1.53 1.53 1.53 7000 10710 SHANG PROP 2.67 2.7 2.7 2.7 2.7 2.7 130000 351000 229500 STA LUCIA LAND 1.89 1.91 1.9 1.9 1.9 1.9 101000 191900 SM PRIME HLDG 34.75 34.8 35.3 35.3 34.4 34.75 11120600 388,533,795( 20,835,604.9996) VISTAMALLS 4.15 4.18 4.18 4.18 4.14 4.15 102000 423670 SUNTRUST HOME 1.28 1.3 1.32 1.32 1.25 1.3 1847000 2374530 47240 VISTA LAND 3.61 3.62 3.63 3.68 3.51 3.61 4312000 15483910 -1690270 SERVICES ABS CBN 11.04 11.06 11.06 11.08 11 11.04 387400 4279774 GMA NETWORK 5.07 5.08 5.1 5.1 5.05 5.08 274800 1393636 MANILA BULLETIN 0.4 0.41 0.4 0.41 0.4 0.4 740000 301650 GLOBE TELECOM 2060 2068 2046 2076 2018 2068 111870 228738900 -49428430 PLDT 1375 1380 1374 1384 1350 1380 368215 505575875 -40949570 APOLLO GLOBAL 0.052 0.053 0.051 0.053 0.051 0.053 34570000 1793710 CONVERGE 15 15.02 15 15.1 14.82 15 16998000 254765850 12581192 DFNN INC 3.61 3.79 3.67 3.67 3.61 3.61 124000 450400 -239420 DITO CME HLDG 6.11 6.12 5.59 6.14 4.8 6.11 256993700 1399018164 13800186 IMPERIAL 1.34 1.43 1.34 1.34 1.33 1.33 10000 13370 ISLAND INFO 0.102 0.103 0.093 0.104 0.093 0.102 16850000 1688030 -193370 JACKSTONES 1.66 1.7 1.6 1.7 1.58 1.7 366000 608270 NOW CORP 4.41 4.42 4.07 4.43 3.75 4.42 24478000 101245390 2674149.9997 TRANSPACIFIC BR 0.255 0.26 0.265 0.265 0.245 0.26 22120000 5617070 63750 PHILWEB 3 3.01 2.96 3.09 2.88 3.01 1653000 4928720 -237130 2GO GROUP 8.7 8.8 8.76 9.37 8.61 8.8 164200 1437797 ASIAN TERMINALS 15.72 16.1 16.18 16.18 16.1 16.1 500200 8083228 CHELSEA 5.2 5.22 4.65 5.2 4.46 5.2 12004000 57604820 -547180.0003 CEBU AIR 40.05 40.1 39.7 40.55 39.65 40.1 1089700 43,666,845( 27,480,865.0003) INTL CONTAINER 123.5 125 121 125 117.9 125 1984930 242373882 70140843 LBC EXPRESS 15.7 15.8 15.72 15.8 15.12 15.8 26500 416762 LORENZO SHIPPNG 1.05 1.06 0.97 1.05 0.97 1.05 766000 786770 MACROASIA 5.65 5.66 5.8 5.93 5.5 5.66 6774000 38591175 -102800 METROALLIANCE A 1.9 1.92 1.95 1.95 1.86 1.9 532000 1013810 METROALLIANCE B 1.9 1.99 1.89 1.94 1.89 1.89 11000 20890 PAL HLDG 6.93 6.95 6.95 6.95 6.85 6.93 42400 292113 21235 HARBOR STAR 1.36 1.37 1.33 1.39 1.32 1.36 4098000 5551850 17810 ACESITE HOTEL 1.4 1.45 1.4 1.45 1.4 1.45 49000 68900 BOULEVARD HLDG 0.027 0.028 0.027 0.028 0.027 0.027 2700000 73000 WATERFRONT 0.6 0.62 0.64 0.64 0.59 0.6 12574000 7669090 120000 CENTRO ESCOLAR 6.99 7 6.99 7 6.99 7 2300 16092 FAR EASTERN U 551 560 569 574 560 560 80 45210 STI HLDG 0.35 0.355 0.355 0.355 0.35 0.355 1950000 685100 3500 BERJAYA 4.25 4.26 4.35 4.46 4.12 4.26 522000 2226260 BLOOMBERRY 7.9 7.99 8.1 8.12 7.83 7.9 7355400 58224784 13534910 PACIFIC ONLINE 1.99 2.03 1.88 2.03 1.87 1.99 1001000 1970910 -124050 LEISURE AND RES 1.58 1.6 1.6 1.61 1.57 1.6 353000 564610 8050 MANILA JOCKEY 2.16 2.34 2.34 2.34 2.34 2.34 3000 7020 PH RESORTS GRP 2.11 2.12 2.34 2.34 2.07 2.12 72278000 156787140 21640120 PREMIUM LEISURE 0.37 0.375 0.36 0.385 0.355 0.375 84740000 31536100 -7601050 PHIL RACING 6.65 7 7 7 7 7 300 2100 ALLHOME 7.4 7.43 7.36 7.4 7.16 7.4 1381700 10125967 7564355 METRO RETAIL 1.49 1.5 1.52 1.52 1.48 1.5 929000 1389560 44400 PUREGOLD 41.75 41.8 42.3 42.45 41.55 41.8 2517600 105248070 -39426115 ROBINSONS RTL 65 65.3 65 65.95 65 65 317710 20714390 -10175874 PHIL SEVEN CORP 112 112.2 112.4 112.4 112 112.2 963180 108022630 -96560 SSI GROUP 1.58 1.59 1.53 1.65 1.47 1.59 19883000 31161850 9580 WILCON DEPOT 15.5 15.54 15.5 15.82 15.12 15.5 5749900 89519672 3380264 APC GROUP 0.365 0.37 0.35 0.385 0.35 0.365 10540000 3918000 11100 EASYCALL 6.85 7 7.07 7.07 6.82 6.95 29400 204122 3455 GOLDEN BRIA 351 388 360 388 352 388 4200 1619246 -977076 PAXYS 2.09 2.2 2.09 2.09 2.09 2.09 1000 2090 SBS PHIL CORP 4.1 4.19 4.1 4.1 4.1 4.1 2000 8200 MINING & OIL

ATOK 9.72 10 10 10 9.68 10 155500 1522918 APEX MINING 1.9 1.91 1.93 1.95 1.89 1.9 7510000 14379290 -188600 ABRA MINING 0.0011 0.0012 0.0012 0.0012 0.001 0.0012 2320000000 2549600 -17800 ATLAS MINING 4.39 4.41 4.32 4.44 4.32 4.41 1176000 5153680 86999.9999 BENGUET A 3.14 3.22 3.17 3.24 3.14 3.22 294000 937260 BENGUET B 3.07 3.18 3.1 3.15 3.07 3.07 49000 152150 COAL ASIA HLDG 0.255 0.27 0.255 0.275 0.255 0.275 620000 159500 -16000 CENTURY PEAK 2.5 2.52 2.47 2.52 2.47 2.52 100000 250350 250350 DIZON MINES 7.97 8.08 8.05 8.12 7.91 8.08 24900 199412 FERRONICKEL 1.35 1.36 1.35 1.36 1.33 1.35 4858000 6528020 809360 GEOGRACE 0.24 0.243 0.246 0.246 0.24 0.24 320000 77020 4820 LEPANTO A 0.159 0.16 0.164 0.166 0.159 0.16 35470000 5749760 LEPANTO B 0.157 0.161 0.162 0.162 0.161 0.161 2800000 452800 -81000 MANILA MINING A 0.0099 0.01 0.0099 0.0099 0.0098 0.0099 9000000 89000 MANILA MINING B 0.011 0.012 0.011 0.012 0.011 0.012 38000000 437000 MARCVENTURES 0.96 0.97 0.96 0.97 0.95 0.96 1361000 1299750 NIHAO 2.65 2.68 2.67 2.7 2.65 2.65 675000 1796530 NICKEL ASIA 4.09 4.11 4.02 4.12 3.91 4.1 19792000 80384780 48592039.9996 OMICO CORP 0.32 0.33 0.32 0.33 0.31 0.33 910000 289000 ORNTL PENINSULA 0.69 0.7 0.71 0.72 0.69 0.7 535000 373050 21000 PX MINING 5.68 5.69 5.56 5.75 5.56 5.69 1975900 11246280 -223412 SEMIRARA MINING 10.84 10.86 10.86 10.88 10.74 10.86 1082700 11744378 724756 UNITED PARAGON 0.005 0.0054 0.005 0.005 0.005 0.005 3000000 15000 ACE ENEXOR 6.31 6.45 6.57 6.57 6.4 6.48 43800 282638 ORNTL PETROL A 0.0098 0.0099 0.0099 0.0099 0.0097 0.0098 19000000 186600 ORNTL PETROL B 0.0097 0.011 0.0099 0.0099 0.0099 0.0099 2000000 19800 PHILODRILL 0.0086 0.0088 0.0088 0.0088 0.0088 0.0088 1000000 8800 PXP ENERGY 12.48 12.5 12.4 12.78 12 12.48 3666800 45262094 1156410 PREFFERED HOUSE PREF A 100 101.9 101.3 101.4 101.3 101.3 900 91180 AC PREF B1 510 519.5 510 510 510 510 4300 2193000 ALCO PREF B 101.5 103.5 103 103 101.3 101.3 130 13254 ALCO PREF C 102 107.5 107.5 107.5 107.5 107.5 20 2150 FPH PREF C 510 525 510 510 510 510 30 15300 GLO PREF P 503.5 518 503.5 503.5 503.5 503.5 2000 1007000 GTCAP PREF A 1001 1049 1050 1100 1001 1001 65 69760 MWIDE PREF 101.3 101.6 101.6 101.6 101.6 101.6 10 1016 PNX PREF 3A 98.2 100.4 100.2 100.2 100.2 100.2 6000 601200 PNX PREF 3B 101.6 105.9 102.3 102.8 102.3 102.8 6700 688415 PNX PREF 4 997 998 998 998 993 998 2130 2123240 -608780 PCOR PREF 2B 1012 1020 1030 1030 1020 1020 285 291000 PCOR PREF 3A 1049 1063 1063 1063 1062 1063 1330 1412990 PCOR PREF 3B 1091 1100 1091 1109 1091 1100 170 187720 SMC PREF 2C 78.1 78.2 78.2 78.25 78 78.1 10670 832968 -62408 SMC PREF 2E 76.25 76.5 76 76.5 76 76.5 44700 3412850 SMC PREF 2F 78 79 79 79 78 78 510 39790 SMC PREF 2G 75.9 76 76 76 75.9 76 11490 873040 SMC PREF 2H 76.7 77 76.55 76.55 76.55 76.55 133100 10188805 SMC PREF 2I 76.7 78 78 78 76.65 76.7 19110 1483007.5 SMC PREF 2J 76.5 76.6 76.6 76.6 76.5 76.5 100860 7715863 -1530000 PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 10.74 10.9 10.72 10.88 10.72 10.88 1500 16176 GMA HLDG PDR 4.91 4.99 4.99 4.99 4.99 4.99 10000 49900 WARRANTS LR WARRANT 0.84 0.86 0.85 0.87 0.85 0.86 96000 82010 SMALL & MEDIUM ENTERPRISES ALTUS PROP 12.5 12.56 12.7 12.7 12.1 12.5 681800 8532762 1913492 ITALPINAS 2.92 2.93 2.9 2.95 2.81 2.92 4837000 13904300 46440 KEPWEALTH 5.5 5.6 5.54 5.67 5.5 5.5 64400 356258 -29079 MERRYMART 3.85 3.86 3.9 3.94 3.77 3.85 27459000 105671480 41590 EXHANGE TRADE FUNDS FIRST METRO ETF 100.5 100.9 100.8 100.9 99 100.9 19320 1937754 280334

www.businessmirror.com.ph

Telcos gear up for ‘intense’ competition in broadband

By Lorenz S. Marasigan

@lorenzmarasigan

ONSUMERS may expect better telco services and better price points for both home broadband and wireless products, as competition in the two subsectors is expected to intensify in the coming months.

Both Globe Telecom Inc. and PLDT Inc. believe competition in the two telco spaces will escalate through 2021, as Dito Telecommunity Inc. and Converge Information and Communications Technology Solutions Inc. ramp up their efforts to build and expand their wireless and broadband networks, respectively. The incumbents are likewise developing their wireless and fixed networks, as demand for telco services increase due to the ongoing digital transformation initiatives across all industries.

“I think the competition will intensify as we move in to 2021 because it’s not only Globe that rolled out fiber. Previously, the two telco incumbents were focused in wireless competition, but i think we are now focused on the fiber to the home on our sites,” Globe President Ernest L. Cu said. “It’s not quite an open field, there will be intense competition in that segment in terms of who can deploy much quicker and who can provide for the public. Competition will be intense, we have not seen this in the

past. It will be very intense in 2021.” He added that he views Converge as “a threat” as it is a “formidable competitor in the broadband space.” “We’re ready to go pit against them,” Cu noted. Manuel V. Pangilinan, who chairs PLDT and subsidiary Smart Communications Inc., added that Converge received a boost when it launched its initial public offering last month. As for Dito, he said the group anticipates how the new wireless entrant fares, but is anticipating a more competitive landscape. “Dito will launch next year. Converge just finished their IPO, so they are probably in a better position to compete next year. Globe will probably be more competitive next year. So we anticipate the competition to be intense. Of course, we do need to have a better view of the economic recovery in 2021, we will be guided by that as well. We’re slightly more optimistic in terms of our 2021 prospects,” Pangilinan said. The incumbents are currently modernizing their networks to han-

dle greater loads and provide faster speeds, as President Duterte warned that the government will take over telcos if they fail to “improve” their services by December. Both players have tapped several common tower providers to build more towers and shared infrastructure to hasten their network builds. They are also migrating their existing facilities and radio equipment to more advanced technologies such as 4G and 5G to provide better services to their subscribers. Globe is spending about P50 billion in capital outlays this year, while PLDT has programmed P70 billion in capital expenditures for 2020. In January to September, Globe reported a 10-percent decline in net income to P15.89 billion from P17.68 billion due to the reduction in revenues and increases in operating costs and depreciations chargers. PLDT saw its profits rise by 23 percent to P19.69 billion during the period from P16 billion the year prior, driven by increases in service revenues and a more prudent spending scheme.

Maynilad acquires 19 sanitation trucks W est Zone concessionaire Maynilad Water Services Inc. (Maynilad) has spent more than P179 million to acquire 19 new vacuum truck units (VTUs) that will help boost its septage collection. The 19 newly acquired 10-cubic meter capacity VTUs can clean around 190 septic tanks per day, and will reinforce Maynilad’s delivery of sanitation services for customers who are not yet connected to the sewer network

In 2019, Maynilad was able to clean more than 147,900 septic tanks and treat nearly 233 million liters of septage. The septage that it collects is brought to the water company’s Septage Treatment Facilities for processing and treatment. Its by-product is then transported to a processing plant so it can be converted to organic fertilizer. “The purchase of these trucks will help Maynilad accomplish its sanitation targets, which we strive to meet despite the restrictions

STOCK-MARKET OUTLOOK Last week

Share prices surged last week and the main index was up all week long despite the volatility caused by the counting of votes after Election Day in the United States. The benchmark Philippine Stock Exchange index (PSEi) gained 361.69 points, or more than 5 percent, to close at 6,685.69 points. The main index was up during the four-day trading week as volume of trade increased partly as a result of the listing of the follow-on shares of Dennis Uy's PH Resorts Group Holdings Inc. on Thursday. Traders said investors were calmed by the financial reports of major listed companies which indicated recovery in the third quarter, even if their figures were still down compared to last year's data. Foreign investors were still net sellers at P495.08 million, while average value of trade for the week reached P8.04 billion. All other subindices ended in the green led by the All Shares index that rose 165.15 points to 3,944.72 points, the Financials index added 55.87 to 1,280.17, the Industrial index gained 399.47, the Holding Firms index soared 461.37 to 7,042.73, the Property index increased 141.46 to 3,195.28, the Services index surged 72.70 to 1,512.14 and the Mining and Oil index was up 374.54 to 7,904.01.

This week

Share prices may continue its upward trajectory this week as Democrat Joe Biden was declared the winner of the US presidential election. Traders also said some investors will cash in on their gains. “Third quarter's recovery of listed companies sets up an inflection point for a 'neverlook-back' scenario for 2021 earnings, supported by hopefully zero lockdown days and the transition from ‘crisis’ to ‘rehab’ management by authorities,” broker 2TradeAsia said. “Hope springs eternal, and while 2020 is close to imprinting itself in history books as one of the PSEi's worst years on record in year-to-date terms, positioning near the bottom during March and holding to date would have yielded close to 50 percent. Obviously these results do not come with caveats of their own, and possibly not repeat in such as short cycle of seven to eight months." It recommended the accumulation of stocks. Immediate support for the main index is seen between 6,250 and 6,600 points and resistance at 6,750 points.

Stock picks

Broker Regina Capital Development Corp. advised to take profits on the stock of Jollibee Foods Corp. (JFC) as its technical indicators showed bullishness on the stock. “Since JFC has been staying in the overbought region for quite some time now, we could expect some profit taking to occur. If the opposite happens, the stock could find its resistance at P212.22 which JFC last saw beginning Jan of this year,” it said. Jollibee shares closed last week at P196.80 apiece. Meanwhile, the broker recommended to position on the stock of PLDT Inc. as buying pressure remains relatively strong. “With the current volume and prevailing market bullishness, bears might have to try harder to push the stock beyond its support level at P1,327. Investors might take the cue from the technical indicators to take position,” it said. PLDT shares closed Friday at P1,380 apiece. VG Cabuag

brought on by the pandemic. We are appealing to our customers to have their septic tanks desludged because not doing so will result in serious environmental, health, and safety risks to their family and community,” Maynilad Chief Operating Officer Randolph T. Estrellado said.

mutual funds

May ni lad ’s wastewater infrastructure network currently includes 19 Sewage Treatment Plants, two joint Sewage and Septage Treatment Plants, and one Septage Treatment Plant, with a combined treatment capacity of an estimated 664,000 cubic meters of wastewater per day. November 6, 2020

NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds ALFM Growth Fund, Inc. -a 214.75 -18.42% -9.33% -3.27% -14.73% ATRAM Alpha Opportunity Fund, Inc. -a 1.1344 -25.76% -11.15% -2.31% -17.92% ATRAM Philippine Equity Opportunity Fund, Inc. -a 2.9374 -26.48% -13.31% -5.41% -20.14% Climbs Share Capital Equity Investment Fund Corp. -a 0.7456 -22.11% -9.58% n.a. -16.97% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.7187 -19.49% n.a. n.a. -15.38% First Metro Save and Learn Equity Fund,Inc. -a 4.6272 -17.24% -7.8% -3.54% -13.16% First Metro Save and Learn Philippine Index Fund, Inc. -a,4 0.7248 -19.46% -9.23% n.a. -15.09% MBG Equity Investment Fund, Inc. -a 88.44 -22.35% n.a. n.a. -14.32% PAMI Equity Index Fund, Inc. -a 43.6961 -18.98% -7.61% -1.85% -14.79% Philam Strategic Growth Fund, Inc. -a 462.07 -17.27% -7.33% -2.36% -13.27% Philequity Alpha One Fund, Inc. -a,d,5 1.0002 n.a. n.a. n.a. -2.9% Philequity Dividend Yield Fund, Inc. -a 1.0902 -19.45% -7.78% -1.99% -15.28% Philequity Fund, Inc. -a 32.2859 -18.99% -7.17% -1.45% -14.81% Philequity MSCI Philippine Index Fund, Inc. -a 0.8569 -19.95% n.a. n.a. -15.83% Philequity PSE Index Fund Inc. -a 4.4646 -18.64% -7.04% -1.13% -14.53% Philippine Stock Index Fund Corp. -a 746.8 -18.49% -6.95% -1.24% -14.36% Soldivo Strategic Growth Fund, Inc. -a 0.6722 -27.05% -11.06% -5.35% -21.05% Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.3877 -23.51% -9.01% -2.96% -19.51% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.8553 -18.71% -7.24% -1.33% -14.54% United Fund, Inc. -a 3.0904 -19.33% -6.83% -1.11% -15.41% Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 100.3228 -18.31% -6.64% -0.46% -14.22% Primarily invested in foreign currency securities ATRAM AsiaPlus Equity Fund, Inc. -b $1.1184 11.84% 0.58% 4.01% 8.75% Sun Life Prosperity World Voyager Fund, Inc. -a $1.545 16.54% 7.82% n.a. 12.06% Balanced Funds Primarily invested in Peso securities ATRAM Dynamic Allocation Fund, Inc. -a 1.5917 -1.1% -4.68% -2.2% 1.85% ATRAM Philippine Balanced Fund, Inc. -a 2.1554 -6.62% -3.96% -0.61% -1.18% First Metro Save and Learn Balanced Fund Inc. -a 2.5204 -6.89% -2.8% -2% -4.22% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,1 0.191 -20.68% n.a. n.a. -16.41% NCM Mutual Fund of the Phils., Inc. -a 1.9096 -4.27% -0.9% 1% -2.65% PAMI Horizon Fund, Inc. -a 3.6444 -6.14% -2.13% -0.02% -3.82% Philam Fund, Inc. -a 16.3111 -6.12% -2.22% -0.06% -3.83% Solidaritas Fund, Inc. -a 2.016 -7.95% -3.31% -0.18% -5% Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.4258 -14.04% -4.62% -1.35% -11.33% Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 0.9821 -6.23% n.a. n.a. -3.31% Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.8979 -13.69% n.a. n.a. -9.89% Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.8794 -15.25% n.a. n.a. -11.46% Sun Life Prosperity Dynamic Fund, Inc. -a 0.8413 -16.82% -5.72% -2.25% -13.7% Primarily invested in foreign currency securities Cocolife Dollar Fund Builder, Inc. -a $0.03915 2.65% 2.75% 2.01% 2.49% PAMI Asia Balanced Fund, Inc. -b $1.0694 5.6% 0.69% 3.13% 5.67% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.2085 10.26% 5.53% 5.81% 7.62% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,3 $1.1732 5.27% 2.96% n.a. 3.94% Bond Funds Primarily invested in Peso securities ALFM Peso Bond Fund, Inc. -a 368.85 3.66% 3.11% 2.64% 3.05% ATRAM Corporate Bond Fund, Inc. -a 1.8942 -1.53% -0.11% -0.25% -0.41% Cocolife Fixed Income Fund, Inc. -a 3.2064 3.54% 4.66% 4.89% 2.84% Ekklesia Mutual Fund Inc. -a 2.287 3.12% 2.71% 2.18% 2.86% First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4439 4.07% 3.32% 1.97% 3.59% Philam Bond Fund, Inc. -a 4.6134 6.18% 4.24% 2.71% 5.5% Philam Managed Income Fund, Inc. -a,6 1.3125 5.23% 4.35% 2.47% 4.44% Philequity Peso Bond Fund, Inc. -a 3.963 5.54% 4.29% 2.43% 4.61% Soldivo Bond Fund, Inc. -a 1.0349 8.23% 3.77% 2.1% 7.32% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.1749 3.81% 4.51% 2.96% 3.23% Sun Life Prosperity GS Fund, Inc. -a 1.7392 2.94% 3.85% 2.34% 2.24% Primarily invested in foreign currency securities ALFM Dollar Bond Fund, Inc. -a $480.74 3.13% 2.62% 2.84% 2.64% ALFM Euro Bond Fund, Inc. -a Є217.87 -0.86% 0.69% 1.15% -0.87% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.2476 3.69% 3.22% 2.62% 3.35% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0265 2.71% 1.96% 1.66% 2.71% PAMI Global Bond Fund, Inc -b $1.0885 -0.68% 0.17% 0.61% -0.47% Philam Dollar Bond Fund, Inc. -a $2.521 5.34% 3.95% 3.48% 4.89% Philequity Dollar Income Fund Inc. -a $0.0619173 2.76% 2.51% 2.2% 2.68% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.2231 2.04% 2.29% 2.56% 1.51% Money Market Funds Primarily invested in Peso securities ALFM Money Market Fund, Inc. -a 129.42 3.44% 3.35% 2.54% 2.85% First Metro Save and Learn Money Market Fund, Inc. -a 1.0462 1.82% n.a. n.a. 1.94% Sun Life Prosperity Money Market Fund, Inc. -a 1.293 2.71% 3.01% 2.61% 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 1.0345 n.a. n.a. n.a. n.a. Primarily invested in foreign currency securities ALFM Global Multi-Asset Income Fund Inc. -b,d,2 $0.95 n.a. n.a. n.a. -4.04% 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

Perspectives

Addressing the security deficit

he Covid-19 pandemic delivered a seismic shock to the working model for most organizations. In the rush to accelerate their digital transformation, the usual checks on security and privacy controls had to play a back seat role. Over the next few months, businesses adjusting to the new reality have to start by re-examining their technology environment and re-establishing control.

The landscape as we see it

When it comes to technological change, security teams prefer to take a strategic view. But for businesses that were forced to rapidly adopt remote working solutions and cloud infrastructure, onboard new technology suppliers at short notice, and switch to digital commerce channels to maintain revenue streams, security and privacy considerations understandably came second to staying in business. The dust has settled. Businesses are now adapting to the new reality of remote working and are beginning to understand some of the more permanent features of the change. Some people will start working from the office again when it’s safe—but many employees will prefer to continue working from home. Staff will have gotten used to new collaboration tooling and virtual infrastructure, and customers will always be happy to have the option of digital commerce and payments. It’s up to the security team to re-establish control over the new suite of technologies that were deployed during the pandemic, secure new channels of data and payments, and adapt their controls to the new working model. But in the longer term, it’s a chance to re-evaluate the operations of the security function. The business now has higher expectations of the efficiency of the security team; they’ve seen how readily security was able to streamline their checks when it came to new suppliers, new application development, and new collaboration tooling. Can they take some of the lessons-learned from this phase and apply them to optimize security-by-design in the new reality? With cost pressures mounting, the drive for speed, agility, scalability, and efficiency in security processes is greater than ever.

What we believe you should do about it

Start by understanding your assets. Your organization’s digital

environment may have grown significantly over the pandemic as part of measures to transition to remote working. Speak to department leads, run detective and discovery tooling, and review procurement documents—you need to understand if any new software solutions were procured by business teams for use during remote working; what new cloud services were spun up and what applications and data they’re holding; and whether there were any new endpoint devices (laptops, mobiles, hard drives, etc.) given out to support teams without your knowledge. Once you have a view of what the new environment looks like, it’s the job of the security and privacy teams to work together to review the controls of new and old infrastructure alike and understand if they’re compliant to policy, and to the organization’s risk appetite. As gaps in compliance begin to show through, work with the business to remediate them. For consumer-facing applications in particular, it’s critical to remind the business that the brand, and therefore revenue, is now tied to the trust that consumers place in the security and privacy of their personal data. Think about your standard security and privacy monitoring processes as well. Have you had to skip business-as-usual assurance activities for new suppliers, review code for new consumer products, or appropriately restrict functionality on collaboration and conference tooling? Determine where the gaps are, and evidence the activities you take to remediate them— regulators may be curious to understand how you’ve addressed challenges. Start planning for the longer term. Ask your business leads, development teams, and suppliers if there was anything they appreciated about security’s activities during the pandemic. Review processes yourselves; were there any instances in which you realized that a streamlined process or a different set of controls still allowed you to manage your cyber risk. Think about how to embed the lessons learned into future operations. The excerpt was taken from “KPMG Thought Leadership, Consumers and the New Reality.” © 2020 R.G. Manabat & Co., a Philippine partnership and a member-firm of the KPMG network of independent member-firms affiliated with KPMG International Cooperative, a Swiss entity. All rights reserved. Printed in the Philippines. For more information on KPMG in the Philippines, you may visit www.kpmg.com.ph.

Govt 9-mo debt service bill exceeds full-yr ’19 payment

By Bernadette D. Nicolas

reflect the bank’s unwavering commitment to empower small entrepreneurs and to help bolster the country’s economic recovery from the pandemic,” Herbosa said. The BGCP is a program under the DBP’s sustainable agribusiness financing program catering to broiler contract growers. Via credit and technical assistance programs, Herbosa said that the DBP is hoping that the MSME sector will be able to get back on track after being adversely impacted by the coronavirus pandemic. He said that the recovery of MSMEs bodes well for the country because of their significant contribution to the economy. “DBP’s continued enhancement of its existing financing programs while pursuing more responsive

@BNicolasBM

N just nine months, government’s debt service bill has already surpassed the full-year amount it paid last year.

Latest data from the Bureau of the Treasury showed government’s debt payments for January to September already amounted to P1.135 trillion, even exceeding P842.449 billion it paid for the whole year of 2019 by 34.69 percent.

Government’s debt payments for January to September this year also doubled from only P558.218 billion in the same period a year ago. This as the state’s debt payments for the month of September rose seven-fold to P374.062 billion from P48.923

billion in the same month in 2019. Of the total debt service for January to September this year, the bulk or 72.42 percent went to amortization payments while the remaining 27.58 percent was spent for interest payments. Amortization payments for the same period also jumped to P821.742 billion, three times as large as P264.477 billion last year. Meanwhile, interest payments for the nine-month period increased by an annualized rate of 6.55 percent to P312.974 billion from P293.741 billion last year. For September alone, the government’s amortization payments ballooned to P330.697 billion, 56 times

more than P5.829 billion it paid in the same month last year. On the other hand, government’s interest payments for the month inched up by 0.63 percent to P43.365 billion from P43.094 billion in September 2019. For this year, the Cabinet-level Development Budget Coordination Committee expects the country’s debt-to-GDP (gross domestic product) ratio to increase to 53.91 percent of GDP—a level it hasn’t seen in over a decade—from a record-low of 39.6 percent of GDP last year. For 2021 and 2022, this is seen to surge to 58.1 percent and 59.9 percent, respectively.

CIC, RCBC team up for financial inclusion By Tyrone Jasper C. Piad @Tyronepiad

he state-run Credit Information Corp. (CIC) and Rizal Commercial Banking Corp. (RCBC) is teaming up to promote digital financial inclusion and literacy amid the coronavirus pandemic. The country’s central credit registry and the Yuchengco-led bank said in a statement they are focusing on helping the unbanked, underbanked, and underserved population in this venture. “The pandemic did not hinder us from expanding the reach of our database to contribute to improving the overall availability of credit, especially to the Filipino working-class including microlevel, small-scale and mediumscale enterprises (MSMEs),” CIC President and CEO A ileen L. Amor-Bautista said. CIC and RCBC, through their memorandum of understanding, are committed to pursue the said goal through the bank’s financial inclusion application DiskarTech. RCBC—which is set to become an accessing entity—is a submitting entity to CIC’s credit database. “Dubbed as a ‘financial inclusion super app,’ it offers vital financial services needed by the unserved and underserved consumers in every barangay and enables them to be part of the local banking ecosystem,” RCBC Vice President Angelito M. Villanueva said. “We call it grassroots banking.” Apart from serving as a payment tool, DiskarTech is also offering a 3.25-percent per annum interest in savings and cash transactions via over 30,000 partner agents. This, as it provides telemedicine to make medical services accessible online. Equipped with an electronic know-your-customer process, Villanueva said that the mobile app allows users to create their own basic deposit accounts. The credit registry, along with Diskartech, is set to publish digital educational materials and conduct virtual events to promote the benefits of credit reports, financial

DBP bankrolls poultry farm project

he Development Bank of the Philippines (DBP) is financing a P46.2-million term loan agreement with a poultry farm in Guinayangan, Quezon province. The borrowing deal with Kallen Pullet Farm is aimed at constructing its startup contract-growing project, the DBP said in a statement. Proceeds will be allocated to build two tunnel-ventilated buildings and to buy poultry equipment and generator sets. DBP President and Chief Executive Officer Emmanuel G. Herbosa was quoted in the statement as saying that the credit support was granted under the bank’s Broiler Contract Growing Program (BCGP). “DBP’s intensified support to micro-level, small-scale and medium-scale enterprises (MSMEs)

Monday, November 9, 2020 B3

interventions will ensure that MSMEs would continue to significantly impact on more Filipinos,” Herbosa said. Earlier, the state-run bank said it is working with the Department of Tourism and tourism businesses to develop long-term solutions for the current economic slowdown. Herbosa said the DBP is “ready to provide needed resources to enable industry players to institute mechanisms that would rebuild trust in travel, seamlessly adapt to digital platforms, and innovate traditional offerings to spur demand.” In the first half, the bank disbursed over P11.98 billion in credit support for the tourism sector. The borrowings helped around 178 tourism-related companies across the country. Tyrone Jasper C. Piad

technology, digital banking and creditworthiness. “We want to push the idea of ‘creditworthiness’ even amid the pandemic and to continuously raise awareness on the rights of consumers to access their credit reports which may serve as their reputational collateral when they try to secure credit facilities,” Amor-Bautista said. Recently, the central credit registry announced that CIBI Information Inc., one of its accredited credit bureaus, launched a digital app where

individuals may inquire about their credit report and credit score. Users may register and create an account in the CIBIApp through desktops or mobile phones. An individual’s credit report contains consolidated positive and negative credit data, along with other relevant information submitted by the financial institutions. It also includes basic personal information, government issued IDs, address, contact details, financial contracts and credit card records, among others.

With this app, the CIC said that credit data have become more accessible to the interested entities. Amor-Bautista said that the registry’s database has now data of 21 million borrowers and 80 million contracts from across 533 financial institutions. “Our database includes not just those who have credit cards, but even those who are unbanked and underbanked. Slowly but surely, the CIC is realizing the inclusivity envisioned by the law,” the CIC chief added.

B4 Monday, November 9, 2020

Be your own boss and bring on brighter days

Empowering Filipino students to become future technology leaders

TCS Launches goIT Education Program in the Philippines

ATA Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organization, recently launched its goIT Education Program in the Philippines. A global initiative that aims to help students improve their technology skills, the goIT program in the Philippines hopes to demystify computer science and encourage students to pursue STEM education and become tomorrow’s technology leaders. The program introduces students to design thinking, digital technologies and agile methodology to develop and prototype solutions that will improve their communities and support the United Nations’ Sustainable Development Goals. TCS has partnered with the Department of Education–Cordillera Administrative Region to implement the goIT program in the Cordillera region. The program is now running in 20 schools

across six provinces of the Cordillera region, namely Abra, Apayao, Benguet, Ifugao, Mt. Province and Kalinga. The three-day program, which is designed for grades 9 and 10 students, started on September 23 with its first school, the Cordillera Regional Science High School in Benguet. The program will run from one division to another within the Cordillera Administrative Region until May 2021. The next set of schools will be from the Baguio City Division. "True to our vision of promoting quality education for every Filipino, TCS' goIT program will facilitate the learning of much-needed technological skills. This will further develop the technology skills of our Cordilleran learners and hopefully encourage them to pursue STEM," said May Eclar, regional director of the Department of Education–Cordillera Administrative Region. It is our hope that we empower Filipino students become future technology leaders

who will contribute in transforming businesses and communities,” said Arijit Roy, HR Head, TCS Philippines. TCS employees who are delivery heads, system analysts and team leaders from different business units facilitate the program and provide industry context and real-world connections to help students gain a much better understanding of the different IT careers. These TCS employee volunteers share their insights and personal experiences in the IT industry. Patrick Veril, CSR Manager, TCS Philippines also added that “apart from teaching the students science and technology skills, they would have to come up with innovative solutions that would alleviate certain problems in their areas such as waste management, calamity control/ response, environment preservation, among others. We are excited to see the creative solutions from the students.” With DepEd prohibiting face-toface classes due the ongoing pandemic, the goIT program is done virtually with six facilitators handling one module each. The program maximizes the use of digital platforms and is designed to be interactive and immersive so that students can enjoy and appreciate the online learnings and experience. goIT is TCS’s flagship student engagement program across North America, LATAM, Europe and the Asia Pacific. It is tailored to meet the specific needs of local communities in each region. The program is estimated to have reached more than 74,000 students worldwide across 22 countries.

Dream Cruises introduces “Super Seacation” voyages on World Dream to kick-off Singapore sailings

SINGAPORE-BASED FITNESS GURUS WILL FRONT THE VITAMIN SEA & DREAM PROGRAM ON WORLD DREAM FROM LEFT: Denise Keller, Lucas Lim, Jia En Tiong, Natalie Yeo, Vikki Jonied.

ECHARGE at sea with a prescription of healthy programs and fun activities including “Vitamin Sea & Dream”, Asia’s only exclusive laser show at sea, Christmas themed programs and more. As the newest cruise ship to call Singapore home, World Dream’s debut in the Lion City will provide Singapore residents with the ultimate holiday getaway at sea with its boatload of built-in attractions. Dive into the Esc EXPERIENCE LAB on World Dream and experience heart-thumping, cutting-edge VR that transports players into worlds and realities they never even knew existed. Feel the stomach dropping excitement on the Finger Coaster full motion VR rollercoaster, speed through fantastical underwater worlds with the Icaros simulator and even travel into space with the Star Wars™ Battle Pods. Awarded with the “The Best Cruise Line – Entertainment” prize at the Travel Weekly Asia Reader’s Choice Awards 2019, Dream Cruises brings to life the most captivating live production shows exclusively created to complement a grand vacation on the high seas. Enjoy a world-class production in the spacious comfort of the Zodiac Theatre with reduced capacity and ample distancing between guests – and be transported to a land of music, color and imagination or catch a movie at Cinema at Sea for a blockbuster of a good time. Outdoor activities will whet the whistle for the adventurous voyager. Speed down slippery slides that tower high above the ocean – there’s no thrill

like it! Ranging across six waterslides from easy-going chutes for families to heart-racing steep inclines for daredevils, these watery wonders will keep everyone grinning for hours. Thrill-seekers will also find adrenaline pumping fun on the outdoor Ropes Course featuring a pulse-racing zip-line suspended a full 18 decks above the ocean or climb to new heights, literally, by tackling the onboard Rock Climbing Wall. For the less adventurous, how about a round of Mini-Golf? Designed to holistically strengthen and boost the immune system with a multifaceted approach, Vitamin Sea & Dream enables guests to make the most out of their vacation away at sea, to come back renewed and fully recharged with positive energy. Discover the power of fitness activities to boost immunity and to be rejuvenated from head to toe, complemented by the relaxing panoramic view of the ocean. From immunity boosting yoga by Singaporebased celebrity host and yoga instructor Denise Keller, morning stretching on the sundeck, and High Intensity Interval Training by celebrity fitness gurus Jia En Tiong, Lucas Lim and Natalie Yeo, to Aqua Tabata and Aqua Kickboxing with Vikki Jonied, Certified Aquatic Fitness Professional, there is no better time to strengthen and rejuvenate the body than on a cruise holiday. To ensure the safest environment, smaller classes will provide participants with sufficient distancing in accordance to government guidelines. Guests can also unlock the secret

to boost immunity with the correct combination of foods through healthy recipes curated by the Dream Culinary Team, while health professionals from medical service provider Raffle Medical Group will share insights on current health trends and professional advice on nutrition and supplementation. With Christmas is right around the corner, guests can enjoy some longawaited and well-deserved bonding time with friends and family on World Dream with Magical Christmas celebrations, where Santa’s Little Elves will be joined by the Dream mascots – the Astronaut and the Mermaid – to spread Christmas joy, happiness and love. Santa’s Little Elves will make guest appearances at Little Dreamers Academy at Sea, Dream Cruises’ signature program curated especially for kids aged 2-12, where children will learn to become an Honorary Elf, complete with an “Elf Approved” badge. The program also includes complimentary STEAM education classes, music and story time, as well as chargeable classes such as the elf magic workshop. The festive spirit will culminate with Verry Christmas, a musical production by Dream Cruises that will take guests on a voyage with Christmas angels and magical creatures. Guests can also say hello to the Magical Elves and Santarinas from the show at various venues throughout the cruise. Prior to her arrival in Singapore, World Dream has been on hiatus in Rotterdam, the Netherlands after being taken out of service in early February.

ESIGNED to help you welcome brighter days ahead is NiXY, the new-day platform that changes the game of direct selling through industry innovations made young and fresh. The brand serves as the materialized desire to help others according to stylist and entrepreneur John Lozano. He said NiXY primarily aims to provide livelihood amid these tough times. “We welcome empowered individuals who want to take charge of their lives,” Lozano said. He added that NiXY represents the go-getting and the game-changing, as well as the sweet, the serious, the unlimited. Unlike other direct selling companies that is limited to one brand, NiXY is a multi-brand group that offers the worldclass beauty products of iFace Inc. The distributor of the best names in beauty around the globe brings to the Philippines acclaimed brands like Korean skincare line Deoproce, Australian cosmetics company BYS, and Greek fragrance group STR8, among others. NiXY’s business structure only has two levels: franchisees and business partners. The world-class products move from the NiXY headquarters to the former, who then handles the orders of the latter for selling to customers. While partners will be given the option to practice

traditional direct selling, the brand’s operations are set to go mostly digital with its own app and website. The new platforms aim to streamline orders and make it more convenient for the younger members of the NiXY family, the millennials, to go about their businesses. Another innovative technological feature of the brand is drop shipping, where orders are delivered only as needed. This eliminates the old problem for direct sellers of having orders stockpiled in their homes. Lozano stated that NiXY stands as one of the best business ventures to take at this time with its promise of fast returns. Whereas a franchise investment with other companies can reach a year or more to reach ROI, he said a NiXY partner can break even in just a month. What’s more, NiXY gives franchisees the privilege of exclusive territory. They can also earn either by catering wholesale to business partners or dealing retail with customers. “What we sell isn't really the beauty products per se, but the opportunity to have your own business,” he said. “I think that's the best commodity that everyone needs right now.” For more information, visit https://www.nixy.ph, https://www.instagram.com/nixyph/ and https://www. facebook.com/nixyph/

‘Kapit-Pinas’ to raise funds for typhoon victims

N just three weeks, the Philippines has been devastated by two strong typhoons, Quinta and Rolly, which affected hundreds of thousands of our kababayans most especially in Luzon. This prompted over 100 youth organizations from the Kapit-Mindanao network to join forces once again and organize an online and offline bayanihan effort called Kapit-Pinas, which aims to raise funds and inkind donations for the typhoon victims. Convened by advocacy-based group Millennials PH and the Kapit-Mindanao network, the campaign will be running from November 1 to 30, 2020. People can course their cash donations online or drop off in-kind goods at designated points. The campaign will benefit 12 target areas that were badly affected by the onslaught of these typhoons, namely, Camarines Norte, Camarines Sur, Albay, Sorsogon, Masbate, Catanduanes, Marinduque, Quezon, Oriental and Occidental Mindoro, Batangas, Cavite, and Laguna. “Imagine the struggle of facing two super typhoons during a time when our country has yet to beat the COVID-19 pandemic. This was a call for me and the team to work on another #SocialMediaBayanihan campaign because we need each other now more than ever and youth-led organizations must continuously collaborate to help those who are affected by these disasters,” said Meryl Hilda Jalani, national president of Millennials PH and KapitMindanao co-founder and national convenor. The campaign was already able to raise PHP 735,000 which is a combination of cash and in-kind donations from its partners, Tanging Yaman Foundation and Premium Megastructures, Inc., three days after the launch last November 2, 2020. The fund and relief packs obtained through Kapit-Pinas will be distributed through community-based groups located in the above-mentioned areas that have their own disaster response initiatives in line with

the requirements of their communities. Some of the needs include food items like canned goods, instant noodles, water; hygiene and dignity kits; and shelter materials. The first wave of relief distribution will begin on November 7, 2020, in Albay. Banking on the original battle cry of the Kapit-Mindanao campaign, “Aabutin natin ang bawat sulok ng Mindanao,” the network has now expanded from reaching the unreached in Mindanao to helping disasterstricken brothers and sisters in Luzon. With this, “Aabutin natin ang iba’t ibang sulok ng Pilipinas” is now its goal. Kapit-Pinas calls on everyone to donate through this link: tinyurl.com/KapitDonate and also join the call to reach more people through the hashtags #KapitPinas and #SocialMediaBayanihan. Local personalities like mental health advocate Dr. Gia Sison and actor Christian Bables also expressed their support for the initiative. For updates and further inquiries, follow the Millennials PH pages on Facebook (fb.com/ millennialsforPH), Instagram (@millennialsph_), and Twitter (@millennials4ph) or send an email to millennialsph.org@gmail.com.

BLICR Program welcomes public and private sector fellows to champion climate resilience

WENTY (20) Mayors of coastal communities and Sustainability and Corporate Social Responsibility (CSR) Professionals from the country’s top corporations were officially welcomed by the Asian Institute of Management (AIM) TeaM Energy Center for Bridging Leadership (TEC-BL) as Fellows of the Bridging Leaders’ Initiative for Climate Resilience (BLICR) Fellowship Program. The program was launched last October 28 via Zoom Conferencing. The first of its kind, the BLICR Fellowship Program is envisioned to create crosssectoral partnerships among public and private institutions to generate Ecosystembased Adaptation (EbA) projects for climatevulnerable coastal communities. The fellowship is in partnership with UK-based Earth Security Group through funding from the German government and TeaM Energy Foundation, Inc. AIM President and Dean, Dr. Jikyeong Kang, PhD, delivered the opening remarks where she highlighted the need for an impetus for both the public and private sectors to collaborate in promoting a ‘green recovery’ plan amid the COVID-19 pandemic. She thanked the Earth Security Group UK (ESG) for choosing AIM to be the convening body for the Fellowship and for trusting the Institute to deliver the leadership and management education of the Fellows. For his part, Prof. Manuel De Vera, AIM TEC-BL Executive Director, shared a comprehensive overview of the two-year fellowship. He emphasized that one of the

BLICR’s main goals is to help coastal cities and municipalities successfully design their Local Climate Change Action Plans (LCCAPs) with private sector participation for a multisectoral approach in building climate resilience. In addition, the program will guide the Fellows in exploring financing mechanisms for climate resilience projects and in accessing funding facilities such as the People’ Survival Fund (PSF), among others, to sustain their EbA projects’ long-term implementation. The Mayors introduced themselves and talked about their on-going climate resilience projects in their cities and municipalities, namely: Del Carmen, Siargao Islands, Surigao Del Norte; Cagayancillo, Palawan; Bayabas, Surigao Del Sur; Maluso, Basilan; Pagbilao, Quezon; Tagum City, Davao Del Norte; San Roque, Northern Samar; Borongan City, Eastern Samar; Barugo, Leyte; and Sipalay City, Negros Oriental. Next, the Sustainability and CSR Professionals introduced themselves and similarly shared their respective EbA projects, including opportunities for collaboration with the Mayors in fostering climate resilience in their localities. They represent some of the country’s biggest corporations, such as Ayala Corporation, SM Prime, Pilipinas Shell, Philam Life, San Miguel Corporation, Bechtel Overseas Corporation, Hijo Resources, RD Corporation, and First Gen Corporation. For more information about the BLICR Program and other offerings of AIM TECBL, you may contact teamenergycenter@ aim.edu or visit their website at go.aim.edu/ bridgingleadership.