PHL EYES EURO BOND
w
n Tuesday, April 20, 2021 Vol. 16 No. 188
P25.00 nationwide | 2 sections 20 pages |
OFFER TO RAISE FUNDS
FISH vendors at the Las Piñas Market splash water on their fish display on Monday (April 19, 2021), as calls mounted for a tighter watch by government on the prices of meat and fish in wet markets. On Sunday, Sen. Francis Pangilinan warned of a serious fish supply shortage if Chinese vessels continue to poach in the West Philippine Sea. NONIE REYES
T
By Bernadette D. Nicolas
@BNicolasBM
HE Philippine government may soon offer euro-denominated bonds in a bid to raise more funds for budgetary support.
This possible return to the euro bond market may come more than a year after it successfully issued zero-coupon euro-denominated
bonds in February 2020 wherein it raised 1.2 billion euros. In an announcement on Monday, the government said it has
US meat exporters say ready to supply more pork to PHL By Jasper Emmanuel Y. Arcalas
T
@jearcalas
HE United States is in a good position to supply possible additional pork imports from the Philippines after the government slashed tariffs to 5 percent in its bid to boost domestic supply and pull down retail prices, the US Meat Exporters Federation (USMEF) said. In an exclusive interview with the BusinessMirror, the USMEF said the US, the country’s third top source of pork imports, “is well poised to help fulfill any surge in import demand” from the Philippines. The USMEF explained that the US pork production this year is expected to grow by 1.3 percent, which
is equivalent to an additional output of 170,000 metric tons (MT). That volume, the group noted, is “approximately the total volume of pork the Philippines imported from all suppliers last year.” “In short, supply is adequate,” the USMEF told the BusinessMirror. And even if China’s pork imports this year are forecast to remain “very large,” the USMEF said additional imports from the Philippines “should not put any great strain on global supplies” as there is available pork in the world market. The USMEF said it does not see “any major obstacles to filling substantially higher import needs” of the Philippines due to ample supply availability. Continued on A2
PESO EXCHANGE RATES n US 48.3930
appointed BNP Paribas, Credit Suisse, Goldman Sachs, J.P. Morgan, Nomura, and Standard Chartered Bank as Joint Lead Managers and Joint Bookrunners to arrange a series of fixed income investor meetings in Asia, Europe and the United States commencing on April 19th 2021. “A proposed 4Yr and/or 12Yr and/or 20Yr euro-denominated US SEC-Registered Senior Unsecured Benchmark bond offering [the ‘Notes’] may follow, subject to market conditions,” it said.
The possible bond offering is expected to be rated Baa2 by Moody’s, BBB+ by S&P, and BBB by Fitch, it added. Should the euro bond offering push through, this would be the country’s second offshore bond sale this year after it sold ¥55 billion ($500 million or about P24.2 billion) in three-year zero-coupon Samurai bonds last month. The country aims to borrow a total of P3.03 trillion this year, roughly the same amount it borrowed in 2020. See “Euro bond,” A2
DAR TELLS SOLONS PORK IMPORTS WILL BE ‘CALIBRATED’ By Samuel P. Medenilla @sam_medenilla
& Jovee Marie N. dela Cruz
P
@joveemarie
RESIDENT Duterte still backs the Department of Agriculture’s (DA) decision to temporarily lower the tariff for pork despite the opposition of lawmakers and other stakeholders. This, as Dar assured members of the House of Representatives the arrival of the pork imports will be closely “calibrated” to avoid upending the market and hurting local producers. Another senator, meanwhile joined calls for Duterte to hold a dialogue with stakeholders, amid continuing concerns the back-to-back move to cut tariffs while expanding minimum access volume of pork imports will lead to the “collapse” of the P300-billion local hog industry. In an online press briefing on Monday, Presidential spokesman Harry Roque said Agriculture Secretary William Dar still has the confidence of the President, when it comes to addressing the local pork shortage. “It appears the President still
trusts the advice of Secretary Dar even if it is contrary to that of the senators,” Roque said. Roque was referring to DA’s proposal to lower the tariff, while increasing the MAV or established in-quota for pork. The Palace released Executive Order 128, which temporarily lowered the tariff of fresh, chilled or frozen meat of swine for at least a year.
Dar assures House
AMID the increasing calls to revoke EO 128, Secretary Dar on Monday assured Congress of a “calibrated arrival” of pork imports into the country, apparently to allays fears of a flood of imported meat. During a joint hearing of House Committee on Agriculture and Food and House Committee on Trade and Industry, Dar reiterated that EO 128 would not “kill” the Philippine hog industry. “Our ultimate goal is really the imports will lower the prices of pork and tame inflation. We would like to assure that calibrated arrival of said imports will be properly managed,” he said. Continued on A8
n JAPAN 0.4450 n UK 66.9469 n HK 6.2275 n CHINA 7.4209 n SINGAPORE 36.2495 n AUSTRALIA 37.3836 n EU 57.9555 n SAUDI ARABIA 12.9041
Source: BSP (April 19, 2021)
News
BusinessMirror
A2 Tuesday, April 20, 2021
Dar: Study on illegal fishing in the WPS nearly complete
A
By Jasper Emmanuel Y. Arcalas
@jearcalas
GRICULTURE Secretary William D. Dar said the Bureau of Fisheries and Aquatic Resources (BFAR) is already finalizing its study on the ongoing illegal, unregulated, unreported fishing (IUUF) in the West Philippine Sea, which involves poachers from China, Taiwan and Vietnam, among others.
“The Department of Agriculture through the Bureau of Fisheries and Aquatic Resources [DA-BFAR] looks at the ‘West Philippine Sea issue’ in general terms, that is, in the area of Illegal, Unregulated, Unreported Fishing [IUUF] activities by poachers—be they from China, Taiwan and Vietnam—and their ‘illegal presence’ wherever in the Philippine exclusive economic zone [EEZ], or simply within our country’s territorial waters,” Dar said in a statement on Monday. “Meanwhile, we will continue to exert efforts to achieve food security through marine or capture fisheries, and sustained support to small, artisanal fisherfolk and their families,” Dar added.
These “efforts” include “limiting access to fishery and aquatic resources for the exclusive enjoyment of Filipino citizens” and ensuring “rational and sustainable ecosystems-based management of aquatic resources in Philippine waters including the EEZ and adjacent high seas,” Dar said. Other measures the government is pursuing, he added, are: protecting the rights of municipal fisherfolk in the preferential use of their respective municipal waters; and addressing other related IUUF concerns and issues, in cooperation with the respective local government units, Philippine Coast Guard (PCG) and relevant agencies.
The DA through its integrated fisheries program will continue to support fisherfolk and other industry stakeholders by setting up community-based hatcheries as sustainable source of fry and fingerlings for aquaculture farming (notably bangus, tilapia, shellfish) to boost local production and provide affordable fish to the public, Dar said. It will also provide more and bigger boats to allow municipal fishers to venture farther, but within territorial waters and EEZ, and directly link fishers and aquaculturists to markets through the OpLan ISDa program, in coordination with Metro Manila LGUs, Dar added. “Finally, we should continue to uphold our rights over the West Philippine Sea, and our EEZ, in general. Let us stand united to deter and end illegal, u nreg u l ated a nd u nrepor ted fishing activities in our territorial waters,” he said. Industry groups have estimated that the Philippines annually loses P300 billion worth of 3 million metric tons of fish supply due to Chinese illegal fishing activities in the West Philippine Sea. Recently, around 240 maritime
militia vessels were spotted in the WPS. The BusinessMirror broke the story last year that the Philippines maintained its stance to refuse support for any fisheries subsidies deal at the World Trade Organization (WTO) that excludes a provision on “illegal, unreported and unregulated fishing, or IUUF, infringements” in disputed waters. (Related story: https://businessmirror. com.ph/2020/11/27/phl-wontaccept-wto-fisheries-deal-without-an-iuuf-provision/) The Philippines had proposed a new mechanism allowing WTO member-countries to determine IUUF infringements in waters being claimed by two or more nations. But several countries, including China, which claims jurisdiction over the West Philippine Sea, opposed the proposal. Beijing argues that IUUF determination in disputed waters is not within the purview of the WTO. A Geneva-based source said China opposed the Philippines’s proposal during the November 24 meeting of the WTO Negotiating Group on Rules-Fisheries Subsidies “reasoning that maritime jurisdiction is an extremely sensitive issue
PHL LOGS 9,628 NEW COVID CASES; 3RD IN ASEAN VACCINE By Claudeth Mocon-Ciriaco
A
Correspondent
TOTAL of 9,628 new Covid-19 were logged on Monday by the Department of Health (DOH), bringing the total number of infections in the country to 945,745. As of 4 p.m. of April 19, the DOH also recorded 9,266 recoveries and 88 deaths. Of the total number of cases, 14.9 percent (141,375) are active, 83.4 percent (788,322) have recovered, and 1.70 percent (16,048) have died. Moreover, 19 cases previously tagged as recoveries were reclassified as deaths after final validation. Four laboratories were not able to submit their data to the Covid-19 Document Repository System on April 18, 2021.
3rd in Asean jabs drive
THE Philippines ranked third among Asean countries with the most number of Covid-19 vaccine doses administered, an official of the Department of Health (DOH) said on Monday. This, as DOH Undersecretary Myrna Cabotaje, who chairs the national Covid-19 vaccine operation center, also said that before the end of the month, 1 million doses (500,000 doses on April 22 and another 500,000 doses on April 29) of Sinovac’s “CoronaVac” will arrive. The country expects also the arrival of 480,000 doses of Gamaleya’s Sputnik V vaccines by the end of the month but an initial of 20,000 doses are expected to arrive early. Cabotaje said there is also an “indication” that 194,000 doses of Pfizer vaccines will arrive by
the end of the month. About 2.5 million doses of CoronaVac and 900,000 AstraZeneca are also expected to be delivered next month from the Covax Facility. Meanwhile, Cabotaje said over 1.4 million doses of vaccines have been administered already. In her presentation during the DOH media forum, the country ranked 3rd behind Indonesia and Singapore in vaccine rollout in the Asean, based on Bloomberg and reports from Foreign Service Posts (as of April 14): ■ Indonesia—Sinovac, AstraZeneca, started January 13-21; 15,811,44 doses administered ■ Singapore—Pfizer/BioNTech, Moderna, started December 30-20; with 1,667,522 doses administered ■ Philippines—Sinovac, AstraZeneca, started March 1 -21; administered 1,456,793 doses
US meat exporters say ready to supply more pork to PHL Continued from A1
The Philippines recently slashed pork tariffs for in-quota imports to 5 percent and outquota imports to 15 percent, for three months until July, before they increase to 10 percent and 20 percent, respectively, for the succeeding 9 months. “USMEF is aware of the high pork prices Philippine consumers are currently paying due to the unfortunate [African swine fever] outbreak. The lowering of import duties should translate into lower pork prices for consumers,” the USMEF said. The USMEF said US pork exports to the Philippines are already up over 600 percent from last year, based on weekly US Department of Agriculture (USDA) export data. “The total volume shipped to the Philippines during this time just exceeds 16,500 [metric] tons. We believe the domestic pork shortage and high prices are driving increased imports,” it added. In an earlier separate statement, the USMEF said the tariff reductions “bolstered” prospects for further growth of US pork exports to the Philippines. “In the Philippines, where
pork production has also been greatly impacted by ASF, exports through February more than doubled last year’s pace in both volume [11,532 mt, up 114 percent] and value [$28.5 million, up 129 percent],” it said. “Further changes are anticipated in the Philippines that will allow most imported pork to qualify for in-quota rates,” it added. Latest USDA data analyzed by the BusinessMirror showed that as of April 8, the US has exported 19,146 MT of fresh, chilled, or frozen muscle cuts of pork to the Philippine—690 percent higher than the 2,421 MT shipped in the same period of last year. Likewise, USDA data showed as of April 8, US has an outstanding sales to the Philippines, which refers to volume that is yet to be exported, of 15,044 MT; this is 1,053 percent over the same period of last year’s 1,304 MT. L atest USDA est i m ates showed Philippine pork imports this year is projected to more than double to 350,000 MT from 167,000 MT volume last year.
Latest USDA forecast showed there will be ample global pork supply as total global pork exports this year are expected to reach 11.544 million MT, 6.09 percent higher than the 10.881 million MT total import demand this year. USMEF said US pork exports to the Philippines last year reached a total $111 million. “While this represents only 1.5 percent of the USA’s total 2020 export value, the Philippines still stands as a top 10 export destination, and our exporters closely monitor market conditions there,” it added. Bureau of Animal Industry (BAI) data showed total pork imports from the US in the first quarter reached 11,603.97 MT, about 6,564.941 MT of which are pork bellies and pork cuts. BAI data showed the US was the country’s third top source of pork imports last year at 44,559.399 MT behind Canada (45,282.945 MT) and Spain (77,423.506 MT). However, BAI data showed the US was the country’s top import source for combined volume of pork bellies and pork cuts at 27,850.991 MT.
Asked why the ranking was based on doses administered and not on the percentage of v acc i n ate d i nd iv idu a l s per population, Cabotaje replied in Filipino, “That is what they are using as an indicator internationally.” She explained that they just supplied the data. Hea lth Undersecretar y Maria Rosario Vergeire also echoed Cabotaje by saying, “It is their strategy. It is not our system.” “Actually they are the ones dictating...will it be percentage? Or actual number? It’s the system,” Vergeire reiterated. C abot aje sa id a tot a l of 1,264,811 have received the first dose while 191,982 got vaccinated for the second dose as of April 17 in 3,155 vaccination sites across the country.
Euro bond…
Continued from A1
Bulk of the gross borrowings this year will be sourced locally at P2.58 trillion while P442.36 billion will be raised from foreign sources. Most of the gross external borrowings will be sourced from bonds and other inflows at P286 billion while the remaining amount is programmed to be raised through program loans (P94.95 billion) and project loans (P61.42 billion). The national government’s outstanding debt as of end-February this year soared to a new record high of P10.406 trillion as the government continued to borrow more money to respond to the raging Covid-19 pandemic. Of the total debt stock, 29 percent was sourced externally while 71 percent are domestic borrowings. Finance Secretary Carlos G. Dominguez III earlier said they expect the national government’s debt this year to reach 57 percent of GDP. As of end-2020, the country’s debt-to-GDP ratio surged to 54.5 percent—a 14-year high —coming from a record-low 39.6 percent in the previous year. Apart from selling euro bonds, the Philippine government also raised funds from its two dollar bond sales in April and December last year. It shelved its plans last year to issue Samurai bonds and renminbi-denominated panda bonds as the Bangko Sentral ng Pilipinas approved a P540-billion advance credit to help the government cover a budget deficit that swelled on the impact of the Covid-19 pandemic.
www.businessmirror.com.ph
‘COMMUNITY PANTRIES GOOD FOR PEOPLE, JUST NEED GUIDANCE’
T
HERE is no need for authorities to stop the setting up of so-called communit y pantries, but local government units simply need to provide “guidance” to address concerns that the long lines of people they attract are leading to breaches of Covid-19 health protocols, a Department of Health official said Monday. Health Undersecretary Maria Rosario Vergeire made the suggestion as the DOH view was sought amid the mushrooming of community pantries in Metro Manlia and in some parts of the country. The community pantry—first set up on a sidewalk in Quezon City’s Maginhawa Street by a young entrepreneur to help pandemic-affected people—encourages people to take only what they need from the basic goods displayed on a bamboo cart, and to donate what they can. The initiative has drawn praise and been replicated in many places, but some people noted that it resulted in alleged breaches of anti-Covid protocols like physical distancing.
Although Vergeire noted that these community pantries will be good for both the “physical wellness” and “mental wellness” of the people, the local government units, she stressed, should make them more “orderly.” “Di naman kailangan itigil [No need to stop these community pantries]. Sa tingin ko, malaking tulong po ito both sa physical wellness and mental wellness ng ating mga kababayan [I think this is good for the physical wellness and mental wellness of our countrymen],” Vergeire said in an online media forum. She added that they recognize the efforts of other people to help their countrymen in the pandemicinduced economic crisis. When people see that there are those willing to help, Vergeire explained, their morale gets uplifted, which is good for their mental health. “I call on local governments ...to look into these community pantries. Let’s just give them guidance -- how to make the process more organized to prevent further infections,” she added, in a mix of English and Filipino. Claudeth Mocon-Ciriaco
Pandemic-hit ECC pensioners to get one-time aid of ₧20K By Samuel P. Medenilla
A
@sam_medenilla
ROUND 31,000 pandemicstricken Employees’s Compensation (EC) pensioners will be getting a one-time P20,000 financial assistance. This after President Durterte signed Administrative Order (AO) No. 39 on Monday providing the said aid to address the “undue financial hardships” of the pensioners during the Covid-19 pandemic. “The adverse effects of the pandemic of the economy, supplementary health necessities for the battle against the virus, and restrictions imposed on our mobility and social interaction, have increased the financial and health burdens experienced by the EC pensioners,” Duterte said in his two-page issuance. It will cover pensioners of per-
manent partial disability, permanent total disability, and survivorship in both private and public sectors. The President made the decision upon the recommendation of the Employees Compensation Commission (ECC) through a board resolution. The amount of the aid was determined after an actuarial study was conducted by the Social Security System (SSS) and the Government Service Insurance System (GSIS) of their Social Insurance Fund (SIF). Duterte instructed ECC, SSS, and GSIS to release the necessary budget for the assistance. He also tasked ECC to come out with the implementing rules and regulations (IRR) of AO 39. The new issuance will take effect once it is published in the Official Gazette or in a newspaper of general circulation.
Science may help stop resource loss in WPS, say experts
Continued from A12
T he s t at e me nt re a d : “ We thank the countries which have expressed support for the principled stand we have taken on this issue; and ask them to help us promote international cooperation initiatives, drawing on development partnerships with Asean and other like-minded nations, to protect humanity’s maritime commons and defend them from wanton destruction and over-exploitation.”
Vanguard backs DFA, DND
IN a separate statement, the University of the Philippines Vanguard expressed its concern over the presence of Chinese militia vessels at the Julian Felipe Reef. Similar to the statement issued by the 200 academics, the UP Vanguard threw its support behind Lorenzana and Foreign Affairs Secretary Teodoro L. Locsin Jr. in demanding the Chinese militia’s immediate withdrawal from Philippine waters. The UP Vanguard said the country should “make China accountable and exhaust all peaceful means available to ensure that the 2012 PCA [Permanent Court of Arbitra-
tion] decision in our favor is respected and enforced.” The organization urged the i nter n at ion a l com mu n it y to unite since “ holding the line” in the disputed waters will not only benefit the Philippines but also “guarantee the freedom of navigation for the international community.” Last year, BusinessMirror reported that the Philippines maintained its stance to refuse supporting any fisheries subsidies deal at the World Trade Organization (WTO) that excludes a provision on “ illegal, unreported and unregulated fishing, or IUUF, infringements” in disputed waters. The Philippines had earlier proposed a new mechanism that allows WTO member-countries to determine IUUF infringements in waters being claimed by two or more nations. But several countries, including China, which claims jurisdiction over the West Philippine Sea, opposed the proposal. Beijing argues that IUUF determination in disputed waters is not within the purview of the WTO.
BusinessMirror
www.businessmirror.com.ph
ESTABLISHMENT / ADDRESS NO.
FOREIGN NATIONAL / NATIONALITY
ESTABLISHMENT / ADDRESS POSITION
8 STONE BUSINESS OUTSOURCING OPC 5-10/f Tower 1 Pitx Kennedy Road Tambo Parañaque City 1.
DO VAN PHUC Vietnamese
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
2.
FENG, XIAOLONG Chinese
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
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HUANG, PEICHUANG Chinese
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
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ZHOU, LIYAN Chinese
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
5.
DENG, KAI Chinese
MARKETING STAFF MANDARIN SPEAKING
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JING, HAOQUAN Chinese
MARKETING STAFF MANDARIN SPEAKING
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KANG, HAIYAN Chinese
MARKETING STAFF MANDARIN SPEAKING
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PAN, MINGJIE Chinese
MARKETING STAFF MANDARIN SPEAKING
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PO, JIWU Chinese
MARKETING STAFF MANDARIN SPEAKING
10.
WANG, LUYANG Chinese
MARKETING STAFF MANDARIN SPEAKING
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ZHU, WENJUAN Chinese
MARKETING STAFF MANDARIN SPEAKING
ACCENTURE, INC. 7f Robinsons Cybergate Tower 1 Pioneer St Mandaluyong City 12.
REDANT, MATTIAS Belgian
TECH WRITING AND TRANSLATION PROJECT EMPLOYEE
ANOC99 CORPORATION 5/f Ayala Malls Manila Bay Building D. Macapagal Blvd. Cor. Aseana Street Tambo Parañaque City 13.
XIE, JIAPING Chinese
CHINESE CUSTOMER SERVICE
14.
ZHENG, YANLONG Chinese
CHINESE CUSTOMER SPECIALIST
15.
ZHOU, ZIJIE Chinese
CHINESE CUSTOMER SPECIALIST
ARINSO INTERNATIONAL PHILIPPINES, INC. 4/f Bldg. 1 Eton Cyberpod Corinthian Ortigas Ave. Cor. E De Los Santos Ave. Ugong Norte 3 Quezon City 16.
DIAH MUSTIKASARI Indonesian
PAYROLL SENIOR ASSOCIATE
BOLLORE LOGISTICS PHILIPPINES INC. 3rd Floor Formation Bldg. B Amvel City Business Park San Dionisio Parañaque City 17.
WOON TAI HO, GODWIN Singaporean
CONSULTANT - AUTOMATION SOLUTIONS
CHINA COMMUNICATIONS SERVICES PHILIPPINES CORPORATION 12/f One/neo Bldg 26th St. Cor 3rd Ave., Bgc Fort Bonifacio Taguig City 18.
WANG, SHENG Chinese
BUSINESS CONSULTANT
19.
WU, DINGHUA Chinese
CHINESE ACCOUNT MANAGER
20.
DU, XIAOFEI Chinese
IT SPECIALIST
COGNIZANT TECHNOLOGY SOLUTIONS PHILIPPINES, INC. 5th And 6th Floors, 8/10 Upper Mckinley Building Mckinley Hill Cyberpark Fort Bonifacio Taguig City 21.
AL-HAIDARY, WAJDI YAHIA MUSAED Yemeni
PROCESS EXECUTIVE - DATA
CONCENTRIX DAKSH SERVICES PHILIPPINES CORPORATION Bldg. F Ayalaland Technohub Quezon City 22.
LE THI KIM TUYEN Vietnamese
ADVISOR I, SALES
CXLOYALTY PHILIPPINES, INC. 10f W Fifth Building 32nd St. Cor. 5th Avenue Bonifacio Global City, Fort Bonifacio Taguig City 23. 24.
AMOUDO, LENY EMMANUEL Ivorian SWIRI, MELVIS NGU Cameroonian
FRENCH CUSTOMER CARE SPECIALIST FRENCH CUSTOMER CARE SPECIALIST
DYNAMIC STUDIO TECHNOLOGY INC. 5th To 10th/f Platinum Tower Building Aseana Ave. Cor. Fuentes Street Baclaran Parañaque City 25. 26. 27. 28.
FENG, SHAOBIN Chinese GE, XIN Chinese HE, CHUAN Chinese HUANG, HONGZHANG Chinese
CUSTOMER SERVICE REPRESENTATIVE CUSTOMER SERVICE REPRESENTATIVE CUSTOMER SERVICE REPRESENTATIVE CUSTOMER SERVICE REPRESENTATIVE
HUANG, LEI Chinese
CUSTOMER SERVICE REPRESENTATIVE
HUANG, ZHIWEN Chinese
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HY QUANG VINH Vietnamese
CUSTOMER SERVICE REPRESENTATIVE
LI, RUIHUA Chinese
CUSTOMER SERVICE REPRESENTATIVE
33.
MENG, CHANGLONG Chinese
CUSTOMER SERVICE REPRESENTATIVE
34.
QI, YU Chinese
CUSTOMER SERVICE REPRESENTATIVE
29. 30. 31. 32.
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FOREIGN NATIONAL / NATIONALITY
POSITION
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35.
SU, HONGGUANG Chinese
CUSTOMER SERVICE REPRESENTATIVE
36.
SUN, SHUAI Chinese
CUSTOMER SERVICE REPRESENTATIVE
37.
SUN, XINGLING Chinese
CUSTOMER SERVICE REPRESENTATIVE
38.
TANG, HUANGBIN Chinese
CUSTOMER SERVICE REPRESENTATIVE
39.
WANG, ZHEN Chinese
CUSTOMER SERVICE REPRESENTATIVE
INGRAM MICRO PHILIPPINES BPO LLC. 12th Floor Three World Square Mckinley Hill Cyber Plaza Bgc Taguig City
40.
WEI, JIE Chinese
CUSTOMER SERVICE REPRESENTATIVE
79.
41.
WU, WEI Chinese
CUSTOMER SERVICE REPRESENTATIVE
42.
XUE, CHUIWANG Chinese
CUSTOMER SERVICE REPRESENTATIVE
43.
YANG, YANG Chinese
CUSTOMER SERVICE REPRESENTATIVE
44.
YANG, XIAOYU Chinese
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80.
BI, HUI Chinese
45.
ZHAO, HUILING Chinese
CUSTOMER SERVICE REPRESENTATIVE
81.
46.
ZHAO, JINZHUANG Chinese
CUSTOMER SERVICE REPRESENTATIVE
47.
ZHOU, YIBING Chinese
48. 49.
POSITION
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FOREIGN NATIONAL / NATIONALITY
POSITION
76.
WANG, JUN Chinese
PLANNING MANAGER FOR GLOBE WIRELESS PROJECT
119.
XIE, ZHONGWEI Chinese
STRATEGIC AND FACILITATION OFFICER
77.
CHEN, XIAOHU Chinese
SENIOR PRODUCT MANAGER OF GLOBE TRANSPORT PROJECT
120.
YANG, KAI Chinese
STRATEGIC AND FACILITATION OFFICER
78.
LIANG, ZICHENG Chinese
SMART WIRELESS BASE STATION PROJECT DEVELOPER
121.
ZHANG, JINRUI Chinese
STRATEGIC AND FACILITATION OFFICER
JINSHENGLONG BUSINESS SUPPORT, INC. 3rd, 4th, 5th, 7th, 9th Flr. Filinvest Bay City Brgy. 076 Pasay City 122.
CHE HY HUNG Vietnamese
CUSTOMER SERVICE REPRESENTATIVE
123.
CHEN, JIECHENG Chinese
CUSTOMER SERVICE REPRESENTATIVE
124.
DOAN THANH THUY Vietnamese
CUSTOMER SERVICE REPRESENTATIVE
125.
LAI, HONGLONG Chinese
CUSTOMER SERVICE REPRESENTATIVE
126.
CHINESE IT SUPPORT SPECIALIST
LIAO, ZHIYAN Chinese
CUSTOMER SERVICE REPRESENTATIVE
127.
CHEN, JIANGDONG Chinese
CHINESE IT SUPPORT SPECIALIST
LIN, JUN Chinese
CUSTOMER SERVICE REPRESENTATIVE
128.
CHINESE IT SUPPORT SPECIALIST
CUSTOMER SERVICE REPRESENTATIVE
82.
CHEN, QI Chinese
LIU, JIXIU Chinese
129.
83.
CHINESE IT SUPPORT SPECIALIST
CUSTOMER SERVICE REPRESENTATIVE
CUSTOMER SERVICE REPRESENTATIVE
DENG, ZIQIU Chinese
LIU, JU Chinese
130.
CUSTOMER SERVICE REPRESENTATIVE
84.
CHINESE IT SUPPORT SPECIALIST
CUSTOMER SERVICE REPRESENTATIVE
ZHU, YANQIU Chinese
FU, XIANGJUN Chinese
LUO, DAN Chinese
131.
CUSTOMER SERVICE REPRESENTATIVE
85.
CHINESE IT SUPPORT SPECIALIST
CUSTOMER SERVICE REPRESENTATIVE
ZOU, TIANYU Chinese
HE, GUIXIONG Chinese
NGUYEN THI HOA Vietnamese
132.
CHINESE IT SUPPORT SPECIALIST
CUSTOMER SERVICE REPRESENTATIVE
86.
JIANG, YUYING Chinese
PENG, GUANGJIAN Chinese
133.
CHINESE IT SUPPORT SPECIALIST
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87.
LI, SHUWEN Chinese
PHAN VAN DUONG Vietnamese
134.
CHINESE IT SUPPORT SPECIALIST
CUSTOMER SERVICE REPRESENTATIVE
88.
LI, XINWU Chinese
SHI, YANBIN Chinese
135.
CHINESE IT SUPPORT SPECIALIST
CUSTOMER SERVICE REPRESENTATIVE
89.
LI, YANPING Chinese
VO THI VANG Vietnamese
136.
WEN, SHUXIANG Chinese
CUSTOMER SERVICE REPRESENTATIVE
FIRST GREAT COMPUTER TECHNOLOGIES INC. Lot 5 Sta. Agueda Cor. Queensway Pagcor Drive Sto. Niño Parañaque City 50.
FOREIGN NATIONAL / NATIONALITY
LIU, YASHI Chinese
MANDARIN CUSTOMER SERVICE
FLYING DRAGON NETWORK PHILIPPINES INC. 4th-11th Floor Aseana 3 Building Aseana Avenue Corner Diosdado Macapagal Tambo Parañaque City
MENCE, ALAN DAVID Australian
PRINCIPAL, LEARNING & ORGANIZATIONAL DEVELOPMENT
ITECHNO SPECIALIST INC. 9/f 100 West Building Sen. Gil Puyat Ave. Pio Del Pilar Makati City 7/f Aseana I Bldg. Bradco Avenue Aseana Business Park Tambo Parañaque City 12/f 1206 & 1207 Aseana Ii Bldg. Bradco Ave. Aseana Business Park Tambo Parañaque City
51.
CAO, YANBING Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
90.
LIANG, ERYING Chinese
CHINESE IT SUPPORT SPECIALIST
137.
CHINESE CUSTOMER SERVICE REPRESENTATIVE
91.
LU, MEIFANG Chinese
CHINESE IT SUPPORT SPECIALIST
CUSTOMER SERVICE REPRESENTATIVE
52.
GUO, SEN Chinese
WU, CHENGDONG Chinese
138.
CHINESE CUSTOMER SERVICE REPRESENTATIVE
92.
SUN, GUIFENG Chinese
CHINESE IT SUPPORT SPECIALIST
CUSTOMER SERVICE REPRESENTATIVE
53.
HOANG PHAT HUY Vietnamese
XIAO, ZHIGANG Chinese
139.
CHINESE CUSTOMER SERVICE REPRESENTATIVE
93.
TANG, QINGMING Chinese
CHINESE IT SUPPORT SPECIALIST
CUSTOMER SERVICE REPRESENTATIVE
54.
HU, QIHONG Chinese
XIONG, YONGLANG Chinese
140.
CHINESE CUSTOMER SERVICE REPRESENTATIVE
94.
WANG, JINXIU Chinese
CHINESE IT SUPPORT SPECIALIST
CUSTOMER SERVICE REPRESENTATIVE
55.
HUANG, MENGLIN Chinese
ZHANG, YUXUAN Chinese
141.
CHINESE CUSTOMER SERVICE REPRESENTATIVE
95.
WANG, ZHAOSHENG Chinese
CHINESE IT SUPPORT SPECIALIST
CUSTOMER SERVICE REPRESENTATIVE
56.
HUANG, SUJUAN Chinese
ZHANG, BAIHUANG Chinese
57.
LI, JIAN Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
96.
XIAO, JIANLONG Chinese
CHINESE IT SUPPORT SPECIALIST
58.
LI, FENXIA Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
97.
XIE, JINJIA Chinese
CHINESE IT SUPPORT SPECIALIST
59.
LIU, WENCHAO Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
98.
YANG, YONGLI Chinese
CHINESE IT SUPPORT SPECIALIST
60.
PANG, LIQIANG Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
99.
YANG, JIANWEI Chinese
CHINESE IT SUPPORT SPECIALIST
LAN TIAN ZI XUN INC. Rm. 2510 25/f Zen Tower 1111 N.lopez St., 071 Bgy. 659 Ermita Manila
61.
SONG, XUEPENG Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
100.
ZHANG, MINGLI Chinese
CHINESE IT SUPPORT SPECIALIST
144.
LI, JIA Chinese
CHINESE IT SPECIALIST
62.
WANG, LIXIN Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
101.
ZHANG, SONG Chinese
CHINESE IT SUPPORT SPECIALIST
145.
XIE, YUECHANG Chinese
CHINESE SUPPORT SPECIALIST
63.
WEI, HONG Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
102.
ZHANG, YUZHEN Chinese
CHINESE IT SUPPORT SPECIALIST
64.
YIN, HAO Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
103.
ZHENG, PENG Chinese
CHINESE IT SUPPORT SPECIALIST
65.
YU, LIFENG Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
104.
ZHONG, RUJUN Chinese
CHINESE IT SUPPORT SPECIALIST
66.
ZHANG, YUENAN Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
105.
LAW KYEIN SHONE Myanmari
IT SUPPORT SPECIALIST
67.
ZHU, LIQING Chinese
CHINESE CUSTOMER SERVICE REPRESENTATIVE
JDB MANAGEMENT AND CONSULTANCY CORP. 107 T & D House Magallanes St. 069, Bgy. 655 Intramuros Manila
68.
BUI THI KIM UYEN Vietnamese
VIETNAMESE CUSTOMER SERVICE REPRESENTATIVE
69.
HA THI KIEU LIEN Vietnamese
VIETNAMESE CUSTOMER SERVICE REPRESENTATIVE
GLOBALLGA BUSINESS PROCESS OUTSOURCING Ground Level, Level 2-5 Floor Silver City 4, Ortigas East Ugong Pasig City 70.
71.
72.
73.
74.
75.
DING, WEIHENG Chinese
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
SU, KETE Chinese
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
WANG, WEI Chinese
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
WANG, YU Chinese
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
ZENG, HAIPING Chinese
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
ZHENG, XINKAI Chinese
CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING
HUAWEI TECHNOLOGIES PHILS. INC. U-5302, 53/f Pbcom Tower 6795 Ayala Ave., Cor., V.a. Rufino St. Bel-air Makati City
JT INTERNATIONAL (PHILIPPINES) INC. Penthouse, W Office Building 28th St. Cor. 11th Avenue Fort Bonifacio Taguig City 142.
TAN HUI MEI Malaysian
RRP CATEGORY DIRECTOR
143.
HARIYANTO Indonesian
INDONESIAN CUSTOMER SERVICE REPRESENTATIVE
MERAKI SILVER SOLUTIONS CORPORATION Unit 1107,11th Floor, One World Place 32nd Bonifacio Global City Fort Bonifacio Taguig City 146.
BAI, TAO Chinese
MANDARIN SPEAKING ACCOUNTS SPECIALIST
147.
YU, SONG Chinese
MANDARIN SPEAKING ACCOUNTS SPECIALIST
MOA CLOUDZONE CORP. 4th-11th Flr. Nexgen Tower C4 Rd. Edsa Ext. Brgy. 076 Pasay City 148.
AI, XIAOMAO Chinese
CHINESE CUSTOMER SERVICE
149.
AI, FEI Chinese
CHINESE CUSTOMER SERVICE
150.
CAI, JIAHAO Chinese
CHINESE CUSTOMER SERVICE
151.
CAO, TIE Chinese
CHINESE CUSTOMER SERVICE
152.
CHEN, YOULIN Chinese
CHINESE CUSTOMER SERVICE
153.
CHEN, SHIQUAN Chinese
CHINESE CUSTOMER SERVICE
154.
FEI, LEI Chinese
CHINESE CUSTOMER SERVICE
155.
GAO, XIANG Chinese
CHINESE CUSTOMER SERVICE
156.
GUAN, BOHAO Chinese
CHINESE CUSTOMER SERVICE
157.
HUANG, LIU Chinese
CHINESE CUSTOMER SERVICE
158.
LI, JIAN Chinese
CHINESE CUSTOMER SERVICE
159.
CHINESE CUSTOMER SERVICE
STRATEGIC AND FACILITATION OFFICER
LIN, SIJIAN Chinese
160.
LIU, ZHIMING Chinese
CHINESE CUSTOMER SERVICE
STRATEGIC AND FACILITATION OFFICER
161.
LIU, CHONG Chinese
CHINESE CUSTOMER SERVICE
106.
CHEN, TIANLONG Chinese
STRATEGIC AND FACILITATION OFFICER
107.
GAO, XING Chinese
STRATEGIC AND FACILITATION OFFICER
108.
HAN, MINGXIANG Chinese
STRATEGIC AND FACILITATION OFFICER
109.
JIANG, XUETAO Chinese
STRATEGIC AND FACILITATION OFFICER
110.
LI, XINRU Chinese
STRATEGIC AND FACILITATION OFFICER
111.
LIANG, SHILIN Chinese
STRATEGIC AND FACILITATION OFFICER
112.
LIU, XUANDI Chinese
STRATEGIC AND FACILITATION OFFICER
113.
LIU, YI Chinese
STRATEGIC AND FACILITATION OFFICER
114.
MENG, CHUNCHENG Chinese
STRATEGIC AND FACILITATION OFFICER
115.
PENG, LIYANG Chinese
STRATEGIC AND FACILITATION OFFICER
116.
QI, ZEXIANG Chinese
STRATEGIC AND FACILITATION OFFICER
117.
QIAN, XIAOLONG Chinese
118.
SHI, ZHIQIANG Chinese
The Nation
A4 Editor: Vittorio V. Vitug
BusinessMirror
Tuesday, April 20, 2021
www.businessmirror.com.ph
Hong Kong flight ban may leave at least 1,300 OFWs stranded–DOLE
S
By Recto Mercene
@rectomercene
TARTING today, Tuesday, two Philippine air carriers will temporarily suspend flights to Hong Kong for two consecutive weeks after the government detected the N501Y mutant Covid-19 strain for the first time in the Asian financial hub, authorities said in a news statement issued on late Sunday.
The ban, according to the Department of Labor and Employment, may leave at 1,300 overseas Filipino workers stranded, but the Philippine Overseas Employment Administration (POEA) said it would continue processing the overseas employment certificates (OEC) of OFWs, who will be deployed to the former Crown Colony. POEA Administrator Bernard Olalia said Philippine recruitment agencies would have shoulder the responsibility to rebook the flights and ensure the welfare of the affected OFWs. “The OEC has a 60 days of validity so this means it will remain valid once the two-week temporary [flight] suspension is lifted,” Olalia said in an online news briefing on Monday.
POEA said Hong Kong still remains a top destination for OFWs, no matter that the pandemic has significantly reduced their numbers last year. In 2020, only 32,000 OFWs were deployed to Hong Kong from 160,000 in 2019 in the years before that. The Philippines, along with Pakistan and India was given an “extremely high risk” classification following multiple imported cases carrying the strain into Hong Kong in the past 14 days, the government said. Airlines impacted by Hong Kong’s ban on travelers from India, Pakistan and the Philippines include carriers such as Cathay Pacific, Hong Kong Airlines, Vistara
and Cebu Pacific. Philippine Airlines (PAL) announced the two-week cancellation to the former Crown Colony, “effective April 20, 2021 in line with the Hong Kong government’s directive suspending flights from the Philippines, among other countries,” PAL spokesman Cielo Villaluna said. Affected passengers shall receive e-mail notifications. For those whose flights have been affected by the cancellation, PAL said they may have the option to: Convert your ticket to a Travel Voucher (request until June 30, 2021); Avail of unlimited rebooking (no rebooking fee) until December 31, 2021. If you will be completing your travel in the same booking class by June 30, 2021 (or ticket validity, whichever comes first), there will be no fare difference charge; Refund your ticket without penalties. Guests may request any of the options via the myPAL request hub at https://mypal.vip/url. Cebu Pacific, on the other hand, also said it has canceled their Manila-Hong Kong-Manila flights to comply with the Hong Kong government directive. AirAsia Philippines has not resumed international flights except repatriation and chartered fights.
With Samuel P. Medenilla
68,490 evacuated in Bicol, E. Visayas due to Typhoon Bising–NDRRMC By Rene Acosta @reneacostaBM
H
EAVY rains spawned by Typhoon Bising drenched large areas of the Visayas and Bicol region over the weekend, triggering flooding and landslides and the preemptive evacuation of thousands of families. Power outages were also reported in some of the areas affected by the typhoon, which hit the country as it scramble to deal with the effects of the Covid-19 pandemic. Bising, the first typhoon to hit the country this year, forced the preemptive evacuation of 18,467 families, or 68,490 persons, in 67 cities and towns in
Regions 5 and 8 as of Monday, the National Disaster Risk Reduction and Management Council (NDRRMC) said. Most of the evacuated individuals were in the areas directly affected and threatened by the typhoon in the provinces of Albay, Camarines Sur, Catanduanes and Sorsogon in Bicol and in Biliran, Western Samar, Northern Samar, Eastern Samar and Leyte in Region 8. Citing reports from its regional disaster offices, the NDRRMC said strong and sustained rains generated flooding in at least 22 villages in Eastern Samar, while similar incidents and even landslides were initially reported in Albay. Key roads and highways and a
bridge were also flooded and have been closed to traffic in Biliran and Eastern Samar. The NDRRMC said that local power cooperatives also reported power outages in four provinces in Regions 7 and 8, especially Leyte, Southern Leyte and Eastern Samar and a portion of Cebu. At least 2,213 passengers, 896 rolling cargoes and 61 vessels remained stranded in various ports in Bicol and in Regions 7 and 8, while flights to and from Tacloban City were also canceled on Sunday. The NDRRMC said it was continuing to monitor situation in the typhoon-affected areas along with the ongoing relief works and even restoration activities.
DFA: Body of dead seafarer washed ashore on Vanuatu beach was Pinoy
T
HE Department of Foreign Affairs (DFA) confirmed on Monday that the body found dead on a beach of Vanuatu Island was that of a Filipino seafarer. The DFA said crew members of a cruise ship discovered one of their companions was missing as the foreign vessel left to sail out of Vanuatu. “Shortly, the body was found on the beach,” according to Marie Yvette Banzon-Abalos, executive director of DFA Strategic Communications Office. She added she has no information that the still unidentified ship worker was Covid-positive. Asked whether rumor is true that he was thrown overboard, BanzonAbalos said any report of foul play “would be part of the investigation.” “The Philippine Embassy in Australia, through the Philippine Consulate General in Vanuatu, has been in touch with the manning agency
The Philippine Embassy in Australia, through the Philippine Consulate General in Vanuatu, has been in touch with the manning agency which has informed the seaman’s family. Marie Yvette Banzon-Abalos, executive director of DFA Strategic Communications Office which has informed the seaman’s family,” Banzon-Abalos added. “Under Philippine laws, the local manning agency is mandated to ensure that the family will receive all the benefits due to the family of the deceased.” The DFA said the local manning agency is in touch with its principal company, as well as with its local
BM
company in Vanuatu to facilitate the investigation of the case. “The embassy is closely monitoring this ongoing investigation of the seaman’s death,” the DFA said, adding the embassy in Australia stands ready to provide the appropriate assistance on the repatriation of the remains. Recto Mercene
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Editor: Vittorio V. Vitug • Tuesday, April 20, 2021 A5
BARMM gets P950-million fresh investment for banana plantation By Manuel T. Cayon
D
@awimailbox Mindanao Bureau Chief
AVAO CITY—A local business group poured P950 million in fresh investments to establish in Maguindanao a plantation of exportable bananas, the Regional Bangsamoro Board of Investments of the Bangsamoro Autonomous Region in Muslim Mindanao (RBOI-BARMM), has announced. The RBOI-BARMM office identified the investor as Al Muzafar Agriventure Inc., also known as AMAVI SWEET BANANA, which registered the proposed investment on Thursday last week. It said the investor is a wholly Filipino owned corporation with majority of its investors from the Bangsamoro. “Despite the higher risks for investments due to the Covid-19 pandemic woes of the country and the region, as local BARMM investors,
they would still proceeded with the project,” said lawyer Ishak Mastura, chairman of the RBOI-BARMM. He said the investor is establishing its operation in the municipality of Datu Abdullah Sangki and other adjacent municipalities in Maguindanao with a combined area of 1,000 hectares. The RBOI, in a news statement, said the investments worth P950 million “is supposed to generate an annual production of 2,000,000 to
3,300,000 boxes of Cavendish bananas for export to Japan, China and the Middle East. The expected employment for the investment project consists of 1,190 workers.” The registration of the investment project of AMAVI with the RBOIBARMM “entitles them to a six-year income tax holiday, reduced duties for importation of capital equipment, exemption from wharfage dues and additional deductions for labor expenses,” it added. Mastura said the approval of the registration of AMAVI’s investment project “would help revive the banana industry, which has been on a declining trend due to several factors.” “While the bulk of the banana industry is located in the Davao region, some of those areas have been hit by the Fusarium wilt or Panama disease that made them unsuitable for banana planting. Thus, the BARMM emerged as a prospective area for investments in planting of Cavendish bananas for export that could help revive our banana industry in terms of volume and market share in the world market,” Mastura added. He said the Cavendish banana “is considered a fast-growing and high-
Are you scared of cybercrime?
By Henry J. Schumacher
I
AM. Both as an individual (with a bank account and a credit card) and a management member in two companies.
I am aware that I am not alone. There is plenty information in the news that a lot of people are not only scared, many businesses and individuals have already been attacked and lost money and essential data! And let’s be clear: there are more and more hackers around waiting to attack!
Why? What is happening to us?
BEFORE the pandemic we already shared personal data and privacy. However, the pandemic has changed the way we live, shop and pay. Because of the acceptance of digital transformation, we live with the fact that we must share personal and company information. The consequence: cybercriminals made and make a killing. No business is safe, and individuals have suffered equally. When a malicious actor attacks an enterprise, IT and security must work together in order to respond —quickly and effectively. But how does that work? It depends on the organizations, how the IT and security departments work together and how much planning has been done in advance. Cyber security is one of the most difficult aspects of running a business. While no amount of advance planning can prevent every cyber- security incident,
planning can help mitigate the results. Instead of trying to figure out what role IT plays while a cyber- security incident is happening, running through potential scenarios or even a made-up attack in advance can ensure that security and IT are working in tune in case the worst happens. Who does what during a cyber- security attack is determined by each organization individually. At smaller companies, IT and security teams might be close enough to share the same budget. In those situations, a smaller team can work together as one department because that’s essentially how they’ve functioned in the past. For bigger operations, a security team typically sets policy. While the IT role depends on the enterprise, most likely the team will be responsible for the data backups—which hopefully exist. While the incident response team is focused on the area that has been attacked, IT needs to start looking at backups immediately and confirm if they have them. IT also needs to locate offsite backups and confirm that they have also not been infected. Tech leaders can then identify which portions of the network haven’t been attacked and assist with restoring data and/or rolling back activities to the last good state backup that you know is clean. IT and cyber security may snip at each other during an attack. It’s a tense situation and the fallout could cost not just millions in losses, but a CIO and/ or CISO their jobs. This should be treated like a corporate crisis by the entire enterprise and, depending on the size of the organization, that means the response should be part of overall crisis management coordination. Instead of just letting the security team run with it, you need an overarching crisis management team that’s coordinating all the work streams. Organizations should put in
the time to create customized plans instead, outlining the roles of everyone, including IT and cyber security, and who is going to resolve disputes between the two. The best way to cut down on both the timeline and cost of a cyber-security attack is to prepare before it even happens. See my last paragraph! Instead of saying who will do what, tabletop exercises are recommended, so it’s not just talking about how they’re going to do it but also practicing that communication channel. If an enter prise hasn’t done a tabletop exercise while employees are working remotely, it’s worth doing one while the work force is scattered, even if plans call for most people to be back in the office sometime this year. A lot of time these incidents don’t happen between the hours of eight and five. They’re usually on a weekend. Most likely people are going to be communicated in that kind of (remote) way. While I highlighted some ideas of how to react to the malicious work of hackers, the more important question is: how do we avoid cybercrime through cyber security preemptive measures? This is the focus of a webinar that is coming up later this month— on April 28 and 29 to be more specific. The facilitator is Geronimo Sy, a former assistant secretary of the Department of Justice. He shepherded the Data Privacy Act and the Cybercrime Prevention Act into law as part of his overall advocacy to protect online space for individuals and organizations. He is also a law professor and lecturer. In other words, if you are scared of cybercrime, like me, I highly recommend you attend this webinar. The investment in the paid webinar may be a small token if it prevents you or your organizations to be attacked. Interested? Contact me at hjschumacher59@gmail.com and I will provide you with the link to the event.
value crop due to its export market, earning dollars for the country, and that it generates more employment per hectare than any other industrial crop.” “It also does not require much processing nor a big land area compared to other plantation crops,” Mastura said. The RBOI cited a Philippine Statistics Authority (PSA) report released on March 12 about fresh bananas recording “the worst dip among the top 10 major commodity groups in terms of the value of exports at -46.9 percent as of January 2021.” PSA data show that the value of banana exports in January fell by 47 percent to $84.659 million from $159.454 million last year. The RBOI also cited a Department of Agriculture (DA) report that attributed the decline in banana production “to the spread of Fusarium wilt, widely known as the Panama disease, a soilborne fungal disease that initially attacks the roots of banana plants.” It said the disease turns the leaves of banana plants from green to yellow before eventually wilting. It is anticipated that areas infected with Panama disease may have already doubled to 30,000 hectares from the 15,000 hectares identified by the DA in 2015, RBOI said.
Tap P150-M fund for food subsidy, Recto tells DA
S
ENATE President Pro Tempore Ralph Recto prodded the Department of Agriculture (DA) on Monday to tap an available P150-million fund in the DA’s budget for timely food subsidy in community pantries. Recto suggested that the DA’s P150million budget for Kadiwa ni Ani at Kita could be used to establish a “food rescue” distribution system where farmers’ produce at risk of being spoiled for lack of buyers or low prices could be brought by the government and distributed to food banks in depressed areas. This way, he said, the government could save farmers’ produce from low prices or lack of buyers and give them to community pantries. Recto recommended the option amid reports of Luzon vegetable farmers dumping their produce. In a news statement, Recto said the DA could “buy these, truck them to Manila and quietly give them to community pantries.” Recto cited pictures depicting disposal of harvested tomatoes being dumped for lack of buyers. Perhaps the government should buy the produce and distribute these in community food banks,” Recto suggested in Filipino. Henotedthat“poorfarmersaregivingour bureaucrats with doctorates in their names a master class in bringing their produce to the cities.” “You don’t have to be a genius to dispatch sweeper trucks and buy dire c t ly f rom ve ge t a ble f a r me r s. You help both the farmers and the consumers,” he said. “And that’s the least that an agency, which spends money telling people not to waste a single grain of rice can do. If DA is encouraging to save on the staple grain, how come tons and tons of vegetables are wasted? Or if DA can afford to import pork from Brazil, how come it the department seems to be unable bring down vegetable harvest from Brazil,” Recto said in a mix of Filipino and English. Suggesting that the Department of Social Welfare and Development’s (DSWD) 2021 budget of P176.6 billion can also be used for food donations, Recto said funding for direct feeding of children is also a regular feature of the national budget, with P6 billion for Department of Education (DepEd) and P3.8 billion for DSWD this year. Moreover, Recto recommended that with self-rated hunger at record high of 30.7 percent,foodbankshavebeenthedirectresponse of citizens to the growing number of so called GNP, or “Gutom na Pilipino.” Butch Fernandez
A6 Tuesday, April 20, 2021
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LGUs seek extension for ‘ayuda’ distribution; only a third of P23-B given out By Samuel P. Medenilla @sam_medenilla
O
NLY a third of the P23-billion budget for assistance of people affected by the enhanced community quarantine (ECQ) in the National Capital Region (NCR) and its surrounding areas have been distributed. As of Sunday, the Department of Social Welfare and Development (DSWD) said over P7.4 billion were distributed by local government units (LGU) to their qualified constituents. The bulk or P4.6 billion of the amount went to beneficiaries in Metro Manila.
In Calabarzon and Central Luzon, P4.6 billion and P658 million were released, respectively. Last week, the Department of Interior and Local Government (DILG) reported some LGUs have already asked for an extension of the 15-day distribution period for the P1,000 worth of aid per person in ECQ-affected areas. The concerned LGUs cited lack of available personnel as well as restrictions in mass gathering and movement as the main cause in the delays in their distribution of the assistance. Presidential spokesperson Harry Roque asked for the public's understanding on the slow pace of the dis-
tribution of the promised assistance. He said all of the P23-billion budget will be eventually distributed to its intended beneficiaries. While waiting for the aid from the government, several communities established their “community pantries” where people could freely donate and take food. Former vice president Jejomar Binay said the emergence of the “community pantry” shows the “absence” of the government when in comes to providing prompt aid to people affected by the pandemic. Roque belied the pronouncement of Binay, attributing the trend to the “bayanihan” spirit of Filipinos.
More modular, off-site hospitals for Covid patients pushed By Lorenz S. Marasigan @lorenzmarasigan
T
HE Department of Public Works and Highways (DPWH) is pushing for more modular hospitals to address the growing number of Covid-19 cases in the country. Public Works Secretary Mark A. Villar, who also sits as the government’s chief isolation czar, said the agency would construct more off-site hospitals as the number of
infections continue to augment the capacity of the health-care industry. Villar said ground works for additional five cluster units of off-site hospital facility with 110 beds for moderate, severe and critical patients will commence on April 17 with the conduct of construction staking or layout survey of build site. Specifically for the Lung Center of the Philippines, the DPWH is building “additional pop-up structures” adding to the already built eight two-bed hospital rooms in
the facility. Likewise, the agency has met with the National Center for Mental Health (NCMH) for the construction of 11 cluster units of modular hospital facilities with 242 beds for Covid-19. DPWH is also proposing to build three cluster units of off-site dormitories with 96 beds as temporary shelter of medical professionals who will provide health-care services at NCMH Mega Modular OffSite Hospital.
DAR tells solons pork imports will be ‘calibrated’ continued from a1 “This importation regime [under EO 128] is temporary. This will only be effective for a year. It is an immediate and temporary response to the deleterious impact of the surging prices of pork and other commodities,” Dar added. The Bureau of Animal Industry is now issuing clearances for pork importation, Dar said. “The EO 128 is now in effect and that continues to be implemented by us. Whatever is needed in terms of import clearances being requested by importers.” Earlier, the Meat Importers and Traders Association (Mita) vowed to supply the country with 100 fullcontainer load of headless carcass at P200 per kilogram.
Price cap on imports
IN the same hearing, Philippine Chamber of Agriculture and Food Inc. President Danilo Fausto asked the DA to impose a price ceiling on imported pork. “What I’d like to propose if possible is to impose ceiling for imported pork for the benefit of the consumers and not the importers,” Fausto added. Dar said the DA will study the matter. From 17 lawmakers last week, a total 22 lawmakers now support House Joint Resolution (HJR) 37 immediately terminating or withdrawing EO 128, temporarily modifying the rates of import duty on fresh, chilled or frozen pork meat and rejecting the staggering expansion of the MAV of pork imports. L aw m a kers c ited Sec t ion 1608 (f) of RA 10863 or the Customs Modernization and Tariff Act, where Congress has the power to withdraw or terminate the delegated power of the President to reduce existing rates of import duties. They said EO 128 would cause irreparable damage to the pork industry and to the agricultural sector as a whole and runs contrary to the constitutional mandate to promote
the general welfare of the people. The lawmakers said the government must instead implement more effective and long-term solutions to strengthen and address the repopulation and rehabilitation of the local pork industry. House Committee Agriculture and Food Chairman Mark Enverga of Quezon said his committee will set another hearing for HJR 37. In an appeal letter, Enverga, Speaker Lord Allan Velasco and Trade and Industry Chairman John Reynald Tiangco of Navotas had asked Duterte to reconsider his recommendation increasing the MAV for pork by 350,000 metric tons (MT) while retaining the existing 40-percent tariff. “Allowing importation beyond the shortage and with a lower tariff will cause oversupply not only in Luzon, but also in the Visayas and Mindanao where there is ample supply of pork,” said Enverga. “The members of the Committees [on Food and Agriculture and House Committee on Trade and Industry] are one with the livestock sector in expressing its opposition to the volume being requested by DA [Department of Agriculture], as industry data and data provided by the Philippine Statistics Authority [PSA] only showed a shortage of 150,275 metric tons,” he added.
Presidential dialogue
DAR recommended the lower tariffs and expanded MAV after the local African Swine Fever (ASF) killed or led to the culling of thousands of hogs, which greatly diminished the supply of pork in the domestic market. Most senators, including Majority Leader Miguel “Migz” Zubiri, have rejected the proposal since they fear it will flood the market with imported pork, which will “exacerbate” the plight of local hog raisers. “I think the President is not aware of the impact of the new
EO [on] farmers especially for hog raisers,” Zubiri said in an interview with PTV. Zubiri said members of the Senate together with stakeholders are now open to having a dialogue with Duterte to try to persuade him to scrap EO 128. The first call for a dialogue with stakeholders was made last week by Minority Sen. Kiko Pangilinan. Roque reiterated the President is open to listening to the position of the Senate. However, he said members of the Senate and House of Representatives are empowered under the Constitution to revoke the EO 128 since it is a tariff fixing. “The President will respect the decision of the Senate and Congressmen [on the said issue],” Roque said. Senate leaders said last week that while most of them support the resolution to ask Duterte to recall his EO 128, they will be forced to revoke the EO when they reconvene on May 17, as they remain unconvinced by DA’s estimates of the projected shortfall in pork supply. In pushing the dialogue with hog raisers, Pangilinan said Duterte’s sitting down with hog raisers’ groups would let him “better understand their plight and put in place the right solutions to save the local industry.” In a statement, Pangilinan cited the hog raisers’ gripe aired at a Senate hearing that they were not consulted before EO 128 was issued. The opposition senator, however, held out hopes the President would reconsider once he hears the side of the affected local hog traders. “We believe the President is not deaf and blind to the woes of our local hog raisers. If he talks to them, he would see the reality on the ground.” Senators convened as a Committee of the Whole and conducted hearings on April 12 and 15; they passed a Resolution asking Duterte to withdraw EO 128. With Butch Fernandez
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Group pitches for milkfish gene improvement program By Jasper Emmanuel Y. Arcalas @jearcalas
F
OOD security advocacy group Tugon Kabuhayan on Monday urged the government to pursue a longterm bangus (milkfish) gene improvement program to boost domestic production and cut production cost to provide consumers with a cheaper protein alternative. Citing previous government efforts in improving genetics of tilapia, the group said it is high time for the country to “embark on improving the genetic characteristics of available bangus fry.” Citing government estimates, the group noted that the country has an annual deficit of 1.5 billion bangus fry, which is primarily filled in by imports from Indonesia. The country has an estimated annual bangus fry requirement of 2.9 billion, about 1.4 billion of which are locally supplied. “Unlike tilapia, the genetic improvement of bangus will take much longer for at least 20 years and a lot of public investment is necessary for the initiative to be successful,” the group said in a news statement. “Despite this, the group is confident that the benefits of the program will justify the time and cost invested as Tugon Kabuhayan envisioned that similar with tilapia, there will be improvement in growth rates, better foodconversion-ratio [FCR], and shorter production time,” it added. The group pointed out that there is already an ongoing P46-million joint project being
undertaken by the government, academe and private sector to develop a bangus genomics road map. The project is being implemented by the Bureau of Fisheries and Aquatic Resources (BFAR) Region 3, De La Salle University, University of the Philippine, National Fisheries Research and Development Institute (NFRDI), Department of Science and Technology (DOST), and Feedmix Specialist II Inc. “The group is hopeful that the bangus genetic program being drafted will be made available soon and is committed to work with the government and other private sectors to ensure that this will be finalized and adopted for implementation,” it said. The group said improving the genetics of milkfish could result in halving FCR from 2 kilograms to 1 kilogram. BFAR Region 3 Director Wilfredo Cruz explained that genetics programs have been long undertaken by the government for shrimp and tilapia production but not for the milkfish industry. And these programs yielded positive results such as reducing the FCR required for tilapia, thus, hastening production and allowing farmers to to cut their production costs, Cruz added. Indeed, Cruz noted that a bangus genetic program will take decades since it takes about 5 years before milkfish broodstocks reach maturity. Cruz estimated that a 20-year milkfish genetic improvement program would entail a budget of at least P2 billion based on a P100million annual funding.
Tuesday, April 20, 2021 A9
Tour operators ‘still hanging on’ despite pandemic restrictions By Ma. Stella F. Arnaldo @akosistellaBM Special to the BusinessMirror
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HE country’s tour operators are still optimistic about the prospects of the tourism industry, despite the rising Covid-19 cases and emergence of new variants of the virus. In an interview with the BusinessMirror, Philippine Tour Operators Association (Philtoa) president Cesar Cruz said, as of Monday, about 160 of its members “have submitted business permits [for 2021], meaning they still have the intention to proceed or continue with their business.” This accounts for some 62 percent of their 260 regular members. But in the same breath, he added, many of those who have already secured business permits are anxious “how they will pay their [tax] assessment.” Most local government units
based the tax assessments on the tourism establishments’ operations last year. However, many tourism businesses would have likely earned only in the first quarter of the year, as the nationwide lockdown began on March 17. More Philtoa members are continuing to submit their copies of their business permits that Cruz hopes this will eventually reach 220 companies in total. “If 220 companies are still hanging on at this point, these are the companies that [government financial institutions like] SB Corporation should be supporting,” he stressed. Unfortunately, he noted, “We have heard from others who have already borrowed from SB Corp [Small Business Guarantee Corp.] and they were lent just P70,000, which is too small for a tour and travel agency.” Cruz said loan amounts should be in the region of some “P500,000” for
tour and travel agencies to survive, and to keep operating in this pandemic. He added some of his members have borrowed, but many are discouraged because of the low loan amounts, and the possibility they won’t also be able to repay said loans. He said that, hopefully, these issues will be threshed out and SB Corporation will relax its loan guidelines to enable more tourism companies to tap its CARES for Travel financing facility. As of March 31, 2021, SB Corporation has approved P129.12 million in loans for 346 applicants. Of the approved applications, some P90.12 million has been released to 260 tourism enterprises/loan applicants. The approved loan amounts, however, are just 2.1 percent of the P6 billion in funds allocated for working capital loans of the tourism sector under Bayanihan 2. SB Corp, a GFI under the Department of
Sinas orders probe into fatal SUV accident in Tabuk that left 13 dead
N
ATIONAL Police chief Gen. Debold Sinas ordered on Monday a thorough investigation into the tragic accident that killed 13 people, including children, in a road accident in Kalinga on Sunday. At the same time, Sinas directed the Philippine National Police Highway Patrol Group (PNP-HPG) local police units to strictly enforce land transportation regulations against overloading and other unsafe driving violations. Citing reports reaching the PNP Command Center, Sinas said the fatalities drowned inside a Ford Everest
with plate number AAK-9180 that fell into an irrigation canal. Brig. Gen. Ronald Lee, Cordillera police regional director, reported that the accident happened at around 6:15 p.m. on Sunday at Barangay Bulo, Tabuk City, Kalinga. The vehicle, driven by Soy Lope Agtula, a Bureau of Jail Management personnel, assigned in Bontoc, Mt. Province and a resident of Cagubatan, Tadian, Mt. Province, came from Tadian and was heading for Bulo Lake. Upon reaching a curved portion of the road, the vehicle, with 14
passengers, seven of them children, slipped and fell into the irrigation canal and submerged. According to the report, personnel from the 1st Kalinga Provincial Mobile Force Company and civilian volunteers responded to the incident. Rescuers brought 11 victims to the Mija Kim Medical Center but were pronounced dead upon their arrival, while two others were brought to the Kalinga Provincial Hospital where they were also declared dead.
DTI‘s Bagsakan on April 23 and 26 bring more fresh produce to Metro
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HE Department of Trade and Industry’s (DTI) Bureau of Domestic Trade Promotion (BDPT), in partnership with DTI Region 2 and Mayani.ph, will bring more fresh produce to Metro Manila through the 2nd Online Bagsakan on April 23.
Higher fuel pump prices this week By Lenie Lectura
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@llectura
IL firms will increase pump prices starting Tuesday morning. In separate announcements, oil companies said they will implement a P0.60 per liter hike in gasoline prices, P0.85 per liter for kerosene and P0.70 per liter for diesel. Petron Corp., Pilipinas Shell, PTT Philippines, Seaoil, Caltex Philippines said they will implement their price adjustments at 6 a.m. of Tuesday, April 20. Cleanfuel’s price increase would be take effect at 4:01 p.m. Other oil firms are expected to follow suit. Last week, gasoline prices were reduced by P0.25 per liter and kerosene by P10.10 per liter.
Tomatoes, carrots, cabbage, potatoes, sayote, lemons and watermelons, among others, will be on sale. Customers should place pre-orders on the Mayani. ph platform until April 21, 12 noon for delivery on April 23. Only GCash payments will be accepted. To shop, click on:
https://cutt.ly/BAGSAKAN Meanwhile, the Bataan Mango Growers Association will be selling kinalabaw mangoes at the DTI Bagsakan on April 26 at the DTI Parking Lot. They will bring around 200 baskets or kaing of mangoes for pick-up and walk-in purchases. A kaing will be sold at P2000.00. Buyers can also purchase less than a basket. Pre-orders will be accepted while the supply lasts through their representative, Aurora S. Dimalanta with mobile number, 09098094476, and pay through bank transfer or cash. DTI Secretary Ramon Lopez stressed the importance of empowering the production capacities of certain sectors, including the agricultural sector, digital trade, and delivery services. The BDTP, together with DTI Region 2 and Mayani.ph, work together to promote a more vibrant domestic trade.
These Bagsakan events promote a grassroots approach to inclusive MSME development. It also supports the DTI’s Buy Local, Go Lokal advocacy campaign. To be updated on the projects of the DTI-Bureau of Domestic Trade Promotion, follow their social media accounts: @DTI.BDTP on Facebook and Instagram, and @ DTI_BDTP on Twitter. For more information on the advisory, please get in touch with: DTI-Bureau of Domestic Trade Promotion (BDTP) G/F Trade and Industry Building 361Sen. Gil J. Puyat Avenue, Makati City 1200 telephone phones: (+632) 7751.3223/7791.3107 / 84653300 contact person Alma Esperanza Santa Maria, Mobile: 0923-5124418 E-mail Address: BDTP@dti.gov. ph, AlmaEsperanzaStaMaria@dti.gov.ph Web site: www.dti.gov.ph
‘Serbisyong DAR to Door’ reaches ARBs in far-flung villages in Albay By Jonathan L. Mayuga @jonlmayuga
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TOTAL of 47 agrarian reform beneficiaries (ARB) in remote island barangays of Cagraray and Namanday in the municipality of Bacacay, Albay recently received their Certificate of Land Ownership Award (CLOA) through the innovative “Serbisyong DAR to Door” program of the Department of Agrarian Reform (DAR). This as the DAR-Albay intensifies the door-to-door CLOA distribution amid the continuing threat of the Covid-19 in various parts of the country. “The program primarily aims to develop self-confidence among farmers knowing that they now legally own the land they till,” Engr. Manuel
Trade and Industry, has been tapped as the conduit for the loans. (See, “Struggling Tourism Firms Need Higher Working Capital Loans To Recover,” in the BusinessMirror, April 8, 2021.) In the continuing survey on the survivability of their members’ operations, which Philtoa started last November, only five or six companies were found to have “totally closed.” Meanwhile, Cruz said, when the National Capital Region “returns to a situation before the new round of lockdowns,” Philtoa recommends a visit to destinations such as Clark in Pampanga, Bulacan, the Calabarzon region, Palawan, especially El Nido, Puerto Galera, Ilocos Norte, and Boracay. “We would rather people travel by land in the meantime, which is easier than to ride planes, where passengers have to contend with a lot more requirements,” he underscored.
Nebreja, chief of DAR-Albay-Land Tenure Improvement Division said in a news statement. The DAR personnel surprised the ARBs with the gesture of delivering the CLOA right at their doorsteps. One ARB beneficiary lauded the issuance of the CLOA as “a result of the DAR employees’ hard work.” Nebreja said the door-to-door delivery of CLOAs is DAR’s way of addressing challenges brought about by the pandemic by personally delivering the CLOAs to farmers at the comfort of their homes or farms. The department likewise oriented the farmers on the support services implemented by the Agrarian Reform Beneficiaries Development Sector, noting the importance of forming and joining farmers’ organizations for them to benefit from the pro-
grams and projects, not only from the DAR but also from other agencies of the government. “We at DAR are here to inform you and offer our services to the farmers since the improvement of the quality of your lives is our vision as much as it is yours,” said Nebreja. Nebreja, however, also cautioned the awardees against fragmentation and converting the land. “When you do this, we all shall have wasted all the time and effort that we exerted for the issuance of this title,” he said. Under the law, CLOAs cannot be alienated or sold to any other person. Within the restricted 10-year period, the beneficiaries cannot dispose of the lands titled under CLOA. Selling them to any developer or any private citizen without the permission of DAR would be unlawful and illegal.
The fatalities were identified as Agtulao, 36; Judilyn Talawec Dumayom,31; Alfredo Cutit Lope, 59; Remedios Longey Basilio,56; Jessabel Basilio Paycao, 27; Sony Puking Lope, 22; Marlo Gel Perena, 6; Seadarn Talawec Dumayom, 5; Scarlet Basilio Paycao, 3; Jeslyn Talawec Paycao, 4; Cydwin Lope Agtulao, 6; Cyan Lope Agtulao, 4 and Ezverdrick Basilio Paycao, 4. Two other passengers survived the accident. Rene Acosta
A10 Tuesday, April 20, 2021 • Editor: Angel R. Calso
Opinion BusinessMirror
www.businessmirror.com.ph
editorial
Easier said than done
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T is very easy to say that our country could benefit from its natural resources and huge revenues from mining could help improve people’s lives in a pandemic.
But this has yet to be proven in the Philippines, where promises of mining bonanzas have often turned into cautionary tales of environmental catastrophes. President Duterte recently signed Executive Order (EO) 130, lifting an almost decade-old moratorium on the processing of new mining projects. The Chamber of Mines of the Philippines immediately welcomed the new EO: “A major roadblock to the huge potential of the Philippine mining industry to contribute to socioeconomic growth has been removed. We welcome the lifting of the moratorium on new mining projects—in place for nearly nine years—in this time of great national difficulty as a result of the Covid-19 pandemic.” With the moratorium lifted, the Mines and Geosciences Bureau (MGB) is looking to grant 100 new mining deals that could net P21 billion in the next five years, besides generating 42,000 new jobs in the mining sector. The mining sector can be a huge boost to economic growth if managed properly. The Philippines is reportedly blessed with $2 trillion of mineral wealth. Because of its huge reserves of natural resources, in particular non-renewable rich mineral deposits and even oil and gas deposits like those found around the waters of Palawan (much coveted by other countries like China), sustainable mining could indeed be one of the top recipients of foreign investments and a main job generator. But so far only a small cabal has reaped the financial benefits of mining. The rich revenue streams from extractive activities have had no significant impact on the country’s economic development. Although the Philippines is among the world’s top producers of copper and gold and the leading supplier of nickel ore to China (the world’s biggest metals producer and user), the mining sector makes a relatively small contribution to the national economy—only 0.6 percent share to total GDP, per latest official data. Mass poverty afflicts many mining communities. For instance, Surigao del Sur and Surigao del Norte are two provinces richly endowed with metallic minerals, such as copper, gold, chromite, cobalt, nickel and lead zinc. They also have an abundance of nonmetallic minerals, like limestone, coal and feldspar, clay diatomite/bentomite and coarse or fine aggregates. Along with Dinagat Islands, which used to be part of Surigao but now an independent province, Surigao del Sur and Surigao del Norte have hosted mining operations for decades. And yet mining has failed to significantly improve the lives of many Surigaonons. Often, the people who fail to reap the benefits from their natural resources are the ones left with degraded environments—straining their ability to meet their own basic needs, if not endangering their lives altogether. We have heard many stories about how the tailings from mines would seep into the soil and kill microorganisms that help crops grow; or how brown water would ooze from mines and reach coral reefs, covering them in sediment and eventually destroying them. How water for irrigating farms has been contaminated, forests denuded, rivers and seas polluted because of mining operations. How people suffered from floods, landslides and health problems, forced at times to leave their homes. In 2017, President Duterte signed the Tax Reform for Acceleration and Inclusive Act. Section 48 of the law doubled the excise tax rate on minerals, mineral products, and quarry resources from 2 percent to 4 percent. But even with this increase and the corporate and royalty taxes mining companies pay, the government can do a much better job of harnessing more mining revenues for development purposes. It’s time to heed the suggestion by mining engineer Graciano Calanog Jr., who noted, in an article in this page last February, the crucial difference between a country like the Philippines that exports all (26 mmt in 2018) its low-priced raw nickel ores—all to China—and Indonesia, which has 11 processing plants for the raw metals (27 mmt) and exports the high-priced ferronickel. He suggested that lawmakers include a requirement for setting up nickel processing plants (ferro-nickel smelters, etc.) among the policy tweaks in crafting a better fiscal regime for mining, beyond simply relying on royalty fees. While the Philippines and Indonesia’s 2018 nickel production don’t vary much, the price they fetch is worlds apart, because we send all raw ores to China while they export ferro-nickel. Ferro-nickel is priced at 90 percent of the official price of the London Metal Exchange while raw nickel ore is generally priced at only 10 percent (or even lower, depending on the grade) of the official LME nickel price, or a price advantage of 9x for Indonesia’s ferro-nickel. In other countries government’s share in mining profits is anywhere from 50 percent to 60 percent; imagine how much more revenue can be raised if this government were to do as Indonesia did while tweaking the fiscal regime. Meanwhile, it must also ensure local communities get their fair share from mineral resources, as well as address long-standing concerns on environmental pollution and compensation for people displaced by mining operations. But costs and compensation cannot all be measured in monetary terms, especially when lives and livelihoods are lost and environmental damage is irreversible.
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THE Entrepreneur
I
T may be too early to tell if the Philippine economy is indeed on the recovery path. But judging from some emerging data, it is now safe to say that the Philippine economy is on the mend, thanks to its partial reopening. The deep contraction last year, of course, will result in some positive economic numbers in 2021 because of the low base effect. Nevertheless, any improvement in year-toyear comparisons is proof that the economy has long bottomed out and has effectively stopped the bleeding. At least three key economic indicators recently published in newspapers will prove that the economy now sees the light at the end of the tunnel. The country’s automotive sales, for one, have jumped in March this year compared with the same month in 2020, when the government first imposed a nationwide lockdown during the start of the pandemic. The low base effect will easily explain the surge in vehicle sales, but they are still significant. Vehicle sales are reflections of consumer demand for big-ticket items. These consumers have regained their confidence to purchase more expensive products despite the lingering pandemic.
They have chosen to spend from their savings and are now more confident to invest. Sales of local car and truck makers surged 88 percent in March to 20,706 units from just 11,029 units in the same month last year. The numbers are still far from the 32,173 vehicles sold in March 2019 when Covid-19 was still unheard of. The improving sales, though, are proof that consumers are no longer hesitant to spend on big-ticket products. Increased automotive sales also equate to more factory production and higher employment. A more telling data is that of the import figures in February. Imports increased 2.7 percent to $7.6 billion in February, from $7.4 billion a year ago, the first time they rose in 22 months. The Philippine Statistics Authority noted an increase in seven of the top 10 major commodity groups, led by the 23-percent rise in telecommunication equipment and electri-
The problem with ‘Bitcoin’
Jennifer A. Ng Vittorio V. Vitug
Senior Editors
Creative Director Chief Photographer
Initial economic data shows merits of reopening
John Mangun
OUTSIDE THE BOX
O
nce again, for approximately the 11th time in the past three years: Cryptocurrency is not money. Bitcoin (BTC) is a great speculative investment.
BTC is going to change the world as we know it...or maybe not. In the meantime, it has provided a terrific speculative investment. But it is not “money.” Unless and until you can use BTC (and I mean all cryptos) for daily purchases, and not a trip to outer space, without going through a third party, it is not “money.” Maybe someday. We are told that fiat money has no “intrinsic” value. Surprise. Neither does BTC. Ask one of the “cryptocult”—“What is the BTC price of a kilo of pork?” They must first compute the value or “price” of BTC in
Philippine pesos and then compute what is the BTC price of a kilo of pork. Since forever, there has been a “market” or nominal value of Philippine pesos computed in pork. While the “price” of pork in pesos fluctuates, so also does the pork price in BTC. But I can buy pork directly with pesos. If I am holding BTC, I must first buy pesos and then buy pork in exactly the same way if I were holding yen, euro or Thai baht. However, in their home market, the yen, euro, and baht have direct nominal value. BTC does not. Over this past weekend, BTC trad-
Further reopening the economy and lifting the restrictions that impede the mobility of our workers will assure our recovery. The current economic data and upcoming figures will support this argument.
cal machinery shipments. The improvement in shipments of goods and equipment means factories are beginning to replenish their stock and are poised to increase their production in anticipation of higher demand as the economy reopens further toward the end of the year. Our factories are presumably stepping up their production with the increased mobility of workers. We should further ease up on public transportation to fetch our workers so they can do their job in production plants, especially those in nearby provinces, like Cavite, Laguna, Rizal and Bulacan. Another positive economic data is the level of investment commitments registered by the Board of Investments. Approved investment pledges reached P137 billion as of March 19, 65 percent higher than the P83 billion posted in the same period last year. I share the optimism of Trade Secretary and BOI Chairman Ramon Lopez, who noted the rise in figures despite the pandemic. The BOI last year registered P1.02 trillion worth of investments. The numbers are a little off the 2019 record of P1.14
But what happens in China’s Xinjiang region—home to the Uighurs by the way—can derail the global BTC market? As much as 66 percent of global hash rates come from and are controlled by Chinese entities. Hopefully, there will never be a repeat of the 1931 Fuyun magnitude 8 earthquake that occurred in Xinjiang. ing was extremely exciting. The US dollar price of BTC reached $64,000 on April 14 and dropped to $54,000 on April 18, a 15 percent downside move. The first comment was that this happened because the US dollar appreciated by 1.2 percent from April 13. But isn’t BTC supposed to move in a world of its own outside of the fiat currencies? Obviously not. If you intend to buy Philippine pork in BTC, “BTC inflation” just hit your lechon. Because there are many exchanges on which to buy and sell BTC, the spread between the buy and sell price is obscene. A 10 percent spread is not uncommon. There are usually fees for
trillion, but they are still impressive considering the impact of the pandemic to the economy. BOI-registered investments consist of spending pledges and they will not contribute to the gross domestic product at once. They are significant just the same. These projects will be built over time and will generate employment as the construction and operational phases progress. Per BOI data, the investment commitments as of March 19 will generate 12,000 new jobs, or up 13.3 percent from 10,605 jobs in the same comparative last year. These data from the vehicle makers, imports and BOI-approved projects hopefully will not be the last among the positive numbers we may expect in the coming weeks. These encouraging figures are actually the products of a re-opened economy. Improving automotive sales tell us that consumers are regaining their confidence to buy in the market. A rise in imports indicate that factories are starting to prepare for increasing demand while the higher level of investment pledges shows investor confidence despite the lingering Covid-19 cases. Further reopening the economy and lifting the restrictions that impede the mobility of our workers will assure our recovery. The current economic data and upcoming figures will support this argument.
For comments, e-mail mbv.secretariat@gmail. com or visit www.mannyvillar.com.ph.
cash withdrawal. But the most serious potential problem is that some exchanges limit the monthly amount of withdrawal. If your P500,000 became P1 million, it could take you three months to get your money out. Certainly, there are ways to verify your account to avoid that, but without legal regulation, you may have to fight long and hard to get your money. The fall in the BTC price was also attributable to a post on Twitter that said, “US Treasury To Charge Several Financial Institutions For Money Laundering Using Cryptocurrencies—Sources.” Every financial and asset market is a target for fake news. But BTC was first used, if not created, for illegal money transfers. With the massive drop and huge volume, it looks like many BTC holders suddenly said, “I better get my cash out now before the Feds break down my door.” Not exactly a stable market used by equally stable investors. Cooler heads soon prevailed. “Data web site CoinMarketCap cited a blackout in China’s Xinjiang region, See “Mangun,” A11
Opinion BusinessMirror
www.businessmirror.com.ph
Pantries, protests, and propaganda
Have gun, will kill Manny F. Dooc
TELLTALES
Lyca Balita
Onwards
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N every national crisis, these words are always uttered with pride: Filipino resilience, and bayanihan. From the last Taal eruption, annual typhoon destructions, and even the current pandemic, these words have always been thrown around. They are practically staple words in times of Philippine crisis. Notice how these words always come from the privileged and in power, and never from the victims? Meanwhile, the victims of these crises ask for help, and protest against lack of preparedness, while those from the private sector listen. Hence, we have private initiatives such as typhoon relief efforts, private donation drives, and the recent community pantries. Meanwhile, many of those in power simply sit back, pat themselves on the back, and talk about their admiration of the mandatory and ever-present Filipino resilience and bayanihan in times of need, as though these were compliments rather than indicators of flaws in the system. Does anyone else see anything wrong with that? There has been a recent surge in community food pantries all over the country, where private persons donate food and other goods to these pantries so that others may freely get as much as they need. The community pantries all follow the common theme of “Magbigay batay sa kakayahan, kumuha batay sa pangangailangan.” This movement is certainly admirable, and it shows that even in times like this, kindness and generosity still exist. It is not up for debate that we private persons can and should help one another when we can, but this does not eliminate the fact that movements like these have an underlying message we cannot ignore: the people have stopped expecting those in power to help them, so the people have taken matters into their own hands. Many believe that these community pantries are protests, statements, and movements. This makes sense, considering that the donations do not come from huge corporations or the wealthiest people in the country. If these pantries were begun and supported by the super wealthy, then it would have been easier to dismiss the pantries as mere bayanihan and corporate social responsibility activities. It could have been easier to argue that movements like this need not be political, since it’s just the super rich giving to those in need. But the initiators, food donors, and manpower of these pantries are ordinary people, like fishermen, farmers, and the aver-
age Filipino. That’s not mere bayanihan. That is a protest. Applauding these activities and attributing them solely to Filipino resilience and bayanihan, and stopping there, completely ignores the context in which these movements arose. It ignores the fact that these movements would not have been necessary in the first place, had there been proper action from those in power. It ignores the fact that not everyone has survived and will survive this pandemic, hence the need for pantries like these. It ignores the fact that the people have found hope elsewhere—no longer in the hands of those in power, but instead in the hands of those who are suffering, too, yet choose to help their fellow Filipino. These movements are not asking for applause; they are demanding actual positive change. It blows my mind that there are critics of this movement. Are people supposed to apologize for wanting everyone to have something to eat? Are donors supposed to revoke their donations and just stand back and watch their fellow Filipinos starve? More interestingly, what does it say about a person when a community pantry threatens him and what he stands for? Insincere applause, empty promises, and frivolous statements cannot feed the hungry. Community pantries could, though. On the other hand, when has desperate propaganda fed anyone other than the propagators? Here are some words that sound better than resilience and bayanihan: fed citizens, competitive pandemic response, and sustainable inclusive infrastructures. That was the change that should have come. Kudos to those who have supported movements such as the community pantries. To take a stand and to selflessly give resources to those who need them is certainly courageous and admirable. May these movements continue to help, spark hope, and open the eyes of many.
For feedback, send an e-mail to lyca.balita@ gmail.com
EU official looks to align with India on 5G to protect democracy By Archana Chaudhary Bloomberg Opinion
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he European Union will discuss 5G technology rollouts and the establishment of global security standards when leaders meet with India next month, as concerns grow about the dominance of Chinese telecom giants. Europe wants to work with democratic partners including India to establish open and transparent standards as nations prepare to move to the new security protocol that should be part of every 5G value chain, Margrethe Vestager, the European Union’s antitrust chief said in an interview. “When we have a systemic rivalry, then we must come together to protect what is really important,” Vestager said. “The way tech is used is a reflection of the system that we prefer, which is democracy.” Prime Minister Narendra Modi is scheduled to attend the India-EU summit in Portugal on May 8 to meet leaders from the 27-member bloc of nations for discussions on trade and security issues. The EU is India’s largest trading partner. India and many European countries, along with the US, have sought to distance their next generation telecom infrastructure from companies including Huawei Technologies Co. and ZTE Corp.
amid concerns over their links with the Chinese government. Nations including the US, UK, Australia and India have raised red flags about Chinese majors participating in building the networks. Chinese suppliers have been shut out of recent telecom auctions in India. While the US and Japan have announced their intention to invest in 5G research, the UK plans to build an alliance of democracies for safer adoption of the technology that’s expected to spur growth post-pandemic and add $1.3 trillion to the global economy by 2030. There’s renewed focus on building common standards to ensure security across the 5G value chain, Vestager said. Standards would include agreeing on technical aspects like radio spectrum bands and interface technologies to be used by 5G networks and creating level-playing fields for local and smaller companies. “It has been part of discussions we have had so far,” she said. “And I would hope that this would be a common approach. Standard setting is one of the keys for a level playing field and for speed when it comes to digitalization.” The EU needs to invest $355 billion while India would need to invest over $70 billion to build its 5G network, according to the government.
T
he Second Amendment to the US Constitution reads: “A well regulated militia, being necessary to the security of a free State, the right of the people to keep and bear arms, shall not be infringed.” This Second Amendment to the US Constitution safeguards the right of every American to keep and bear arms and constitutes the Bill of Rights, together with the other 9 amendments introduced and ratified on December 15, 1791.
When the Second Amendment was adopted and made an integral part of the US Constitution, it must be noted that the US was still engaged in the so-called Revolutionary War or the American War of Independence against Great Britain. This war only ended on September 3, 1783 when the Treaty of Paris was signed between Great Britain and the US, where the former acknowledged the latter as a free, sovereign and independent state. The obvious objective of the Second Amendment was to allow the colonies or the newly formed states to set up militias and allow them to possess and use guns to fight the British or tyrannical federal government. It was originally proposed by James Madison as a means to empower the state militias by arming its members. Up to this day, Americans are still debating over the meaning and interpretation of the 2nd Amendment. One side argues that the 2nd Amendment provides for collective right, i.e. it is given to the state so that it can organize and train a militia to protect itself against an oppressive federal government. Thus, bearing arms is a constitutional right given collectively to the members of the militia. Opposed to this is the widely held view that the 2nd Amendment
grants the individual the right to keep and bear arms. Its advocates uphold the view that the amendment grants every citizen the right to own and bear arms to protect his individual rights. The National Rifle Association, a very powerful lobby group, champions this view while diametrically antithetical to it are groups like the Brady Campaign who believe that gun ownership should be subject to strict regulations and control. This issue has been brought to the US Supreme Court a number of times. In recent cases decided by the US SC, the highest court ruled that “the 2nd amendment protects an individual’s right to possess a firearm unconnected with service in a militia [present National Guard], and to use that arm for traditionally lawful purposes, such as selfdefense within the home.” This was the decision in District of Columbia v. Heller in 2008 where the SC upheld Dick Heller’s challenge of the handgun ban promulgated by the District of Columbia. The SC affirmed the Heller ruling in McDonald v. Chicago (2010). In 2016, the US SC decided in favor of a woman who was arrested and convicted for possessing a stun gun to protect herself against an abusive ex-boyfriend (Caetano v. Massachusetts). Under the law of Mas-
CREATE VAT on PEZA Atty. Irwin C. Nidea Jr.
Tax law for business
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Continued from A10
which reportedly powers a lot of bitcoin mining, for the selloff.” “It was revealed that a comprehensive power outage for safety inspection was
sachusetts, possessing a stun gun is illegal. The SC held that stun guns and all instruments that constitute bearable arms are protected under the Second Amendment. But this will not be the end of it. A new SC with Democratic-leaning members in the majority may rule differently. Meanwhile, mass killing caused by rampant possession of murderous weapons will continue unabated, wreaking havoc on American society. Several mass shootings in recent weeks in America have claimed many innocent lives. “Mass shooting” is generally defined as 4 or more people killed, excluding the shooter. Only last Friday, 8 persons were killed by a lone gunman in a Fedex facility in Indianapolis. The suspect shot himself shortly after the responding police officers arrived at the scene. He was only 19 years old and a former employee of Fedex. Over a hundred incidents of mass shootings have taken place in the US so far this year. Forty people have been killed since March 17, with their dead bodies scattered all over America. Four died in Orange County, California; 10 in Boulder, Colorado; 8 in Atlanta; 4 in Baltimore; 6 in Rock Hill, South Carolina; plus 8 in Indianapolis. Once more, the investigators face great difficulty finding a motive. Assailants just shoot randomly at anyone within sight. Many cases are closed without uncovering the reason why the unnecessary killings took place. As Randal Taylor, the Chief of the Indianapolis Police Department
There are many questions that must be resolved by the BIR. Hopefully, the implementing rules and regulations of CREATE is comprehensive enough to address all these questions.
agreed with the BIR and ruled that the meaning of attribution is “direct attribution.” VAT is only refundable on the purchase of goods that are used for conversion into or intended to form part of a finished product for sale, and not supplies that will be used in the course of business, e.g., pen and paper that will be used by employees in the office of a computer manufacturing company. Another view opines that, if it is shown that the purchases are used for the operations of the business, then the input VAT charged on the said purchase is refundable and is still considered “directly attributable” to zero-rated sales. So, for example, the input VAT derived from purchase of paper and pen by a computer company, which do not directly form part of the computer that is produced, is still refundable. The third view is that when a company sells to a PEZA registered entity, no VAT should be imposed against it. Since PEZA is considered outside the Philippines for tax purposes, all experienced in the Xinjiang region of China.” No chance that “safety inspection” was planned in Beijing? China is working on its own Digital Currency. But what happens in China’s Xinjiang region—home to the Uighurs by the way—can derail the global BTC
market? As much as 66 percent of global hash rates come from and are controlled by Chinese entities. Hopefully, there will never be a repeat of the 1931 Fuyun magnitude 8 earthquake that occurred in Xinjiang. Then again, “The ban on cryptocurrency payments proposed by
Mangun. . .
Biden lamented: “Gun violence is an epidemic, for God’s sake, it has to stop.... It stains our character and pierces the very soul of our nation.” Like Covid-19, mass shooting is a public health crisis that has gripped the US for so long. Unfortunately, there is no vaccine for it.
sales to companies registered therein are zero-rated. So, if a PEZA entity allows itself to be charged VAT on its purchase, it cannot blame the government and claim for VAT refund. Its only recourse is against the suppliers that should not have imposed VAT on its sale in the first place. But now, CREATE has dropped the word “attributable” as far as VAT incentive is concerned. It now states that VAT exemption on importation and VAT zero-rating on local purchases shall only apply to goods and services “directly and exclusively” used in the registered project or activity by a registered business enterprise. So, zero percent VAT on local purchases by a PEZA registered company is applicable only if the said purchase is directly and exclusively used in its registered activity. The law dropped the phrase “directly attributable” and used “directly and exclusively” instead. What are the implications of this? If I sell goods to a PEZA registered entity, can I merely rely on a PEZA certificate of zero-rating when I decide not to charge VAT on the said sale or should I make sure that the goods are directly and exclusively used for the registered activity? If yes, how am I going to do that? I am not involved in the operations of the PEZA entity. What if upon examination, the BIR
REATE has rationalized tax incentives of Philippine Economic Zone Authority entities. Sunset provisions have also been introduced. It has put an end to the “forever” concept of income tax holiday. There is also a subtle change in the wordings of the value-added tax provisions governing PEZA entities that can possibly shake the landscape of how they must do business. Prior to CREATE, input VAT incurred by a PEZA registered entity will only be refundable if it is proven that the same is used for an activity that is directly attributable to zero-rated sales. The key words are “directly attributable.” To be considered refundable, purchase of goods must form part of the finished product of the taxpayer, or it must be directly used in the chain of production. There must be a showing of the direct attributability of the purchases or input tax to the finished product. So, if a PEZA company is engaged in the export of computers, only input VAT on its purchases from the custom’s territory that form part of these computers (finished product), may be refunded. The pen and paper used by a PEZA entity in its office cannot be considered directly attributable to the production of computers. Thus, the taxpayer cannot file a claim for VAT refund on the same. There are conflicting views on this issue. In some cases, the court
Tuesday, April 20, 2021 A11
has admitted, “I honestly don’t know if we’ll ever know the ins and outs of why this occurred, but we’ll do our best.” They should do nothing less. It’s the only way to obtain justice for the hapless victims. Woe to one who is at the wrong place at the wrong time. The victims are doing normal activities of daily living—buying groceries, parking their cars, working in the office or resting at home. These rampage killings do not speak well of the “land of the free, home of the brave.” Just a week ago, President Joe Biden announced a number of executive actions designed to curb gun violence. He proposed that assault weapons should be taken off the streets. He has recommended tougher screening and stricter background checking for all gun buyers. But it seems that triggerhappy criminals are undeterred. As a senator, Biden has been a champion for gun control and now that he is the president he should give it his top priority. Assailants do not fit a single profile. He could be young or old, employed or unemployed, single or married, poor or rich, and normal or deranged. He could be anybody’s neighbors, co-workers or a total stranger. Once it happens and the identity of the killer is made known, oftentimes we would read innocuous comments like: “He’s just an average guy.” “He’s quiet, reserved, and won’t hurt a fly.” “He’s a loner but he’s not offensive.” Except maybe to his immediate family, no one would believe that the shooter would be capable of committing the dastardly crime he has committed. Biden lamented: “Gun violence is an epidemic, for God’s sake, it has to stop.... It stains our character and pierces the very soul of our nation.” Like Covid-19, mass shooting is a public health crisis that has gripped the US for so long. Unfortunately, there is no vaccine for it.
discovers that the products that I sold to the PEZA entity was not used by it in its registered activity? Can the BIR go after me for not charging VAT on the sale? What if the PEZA entity is engaged in purely zero-rated sales, should the input VAT it incurred be considered as directly or exclusively used for its registered activity automatically? Thus, should it be considered zero-rated in its entirety? As illustrated in the example above, a company that manufactures computers buys paper and pen for its office. It is engaged in 100 percent export of computers, which is considered as zero rated. Should VAT be imposed by its suppliers on its purchase of paper and pen? With the enactment of CREATE, does it mean that attribution requirement is no longer an issue since only goods and services “directly and exclusively” used in the registered activity are considered VAT zero-rated? There are many questions that must be resolved by the BIR. Hopefully, the implementing rules and regulations of CREATE is comprehensive enough to address all these questions. The author is a senior partner of Du-Baladad and Associates Law Offices, a member-firm of WTS Global. The article is for general information only and is not intended, nor should be construed as a substitute for tax, legal or financial advice on any specific matter. Applicability of this article to any actual or particular tax or legal issue should be supported therefore by a professional study or advice. If you have any comments or questions concerning the article, you may e-mail the author at irwin.c.nideajr@ bdblaw.com.ph or call 8403-2001 local 330.
the Turkish government created the selloff.” Welcome to the world of Cryptos. E-mail me at mangun@gmail.com. Follow me
on Twitter @mangunonmarkets. PSE stock-market information and technical analysis provided by AAA Southeast Equities Inc.
A12 Tuesday, April 20, 2021
SCIENCE MAY HELP STOP RESOURCE LOSS IN WPS, SAY EXPERTS By Cai U. Ordinario
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@caiordinario
CIENTIFIC cooperation may offer a pathway to protecting the natural resources in the West Philippine Sea (WPS) as this would allow Asean countries and even China to better understand what’s at stake if the wanton destruction of these resources does not stop, according to experts. Ateneo de Manila University School of Government Dean Ronald U. Mendoza and UP Institute for Maritime Affairs and Law of the Sea Director Jay L. Batongbacal agreed that working with the international community will help protect the resources in the WPS. “It is crucial to stop the wanton extraction of these resources which we know is a high risk for these areas. Perhaps this kind of research can also win hearts and minds in Asean (and even among the Chinese people) to better understand what’s at stake if we fail to protect these resources,” Mendoza told BusinessMirror in an e-mail. “Multilateral and cooperative approaches should strengthen our hand as a relatively smaller country. This was the strategic intent behind pushing for the Unclos (United Nations Convention on the Law of the Sea) decision,” he added. The WPS is of interest to China on various levels. Mendoza said one interest could be commercial, considering the strong food demand of China which has over a billion people. Mendoza said it is important to note that it is not simply a matter of population size but also the higher purchasing power of Chinese families. According to the World Population Review, China’s population this year is estimated to reach 1.43 billion, making it the most populous country in the world. “(The WPS is) probably of interest to China on different levels—not simply strategic in terms of the sea lanes, but also commercial, due to the strong food demand of their growing middle class. Indeed they have to feed a large population, but also
one that has higher purchasing power,” Mendoza said.
Batongbacal’s concern
MEANWHILE, Batongbacal told BusinessMirror on Monday that the interest of China may be primarily due to security. However, he said food may be incidental given China’s food requirements. Batongbacal said China’s food requirements far exceed what the WPS can provide. This has provided China an impetus to cast a wider net in the Pacific ocean. Despite this, Batongbacal is concerned that the situation at the WPS could escalate if countries will allow it to continue. “China will keep trying to move into WPS, and will do what it can to achieve that objective. Only way to leverage our resources is by making sure China doesn’t take them away or we don’t give them up, and work with the international community to protect them,” Batongbacal said.
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@sam_medenilla
HE Philippine Overseas Employment Administration (POEA) said the United Kingdom (UK) wants to sign a new bilateral labor agreement (BLA) with the Philippine government, which will exempt the European country from the deployment cap of health care workers (HCW). In an online press briefing on Monday, POEA Administrator Bernard P. Olalia said the British government sent them a letter indicating they wish to revive the expired BLA for the deployment of Filipino HCWs to UK under a government-to-government arrangement. “We are just waiting for the official notice for their request, which will pass through the necessary protocol,” Olalia said. Without the accord, the POEA head said it is unlikely the govern-
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By Tyrone Jasper C. Piad
@Tyronepiad
HE Department of Trade and Industry (DTI) urged Chinese investors to expand their businesses in infrastructure, equipment manufacturing and information technology in the Philippines.
Trade Undersecretary and Board of Investments (BOI) Managing Head Ceferino Rodolfo recently met with representatives of the Chinese Enterprises Philippine Association (CEPA), pitching the country as an ideal investment destination despite the ongoing pandemic. The BOI organized the briefing in partnership with the Philippine Trade and Investment Centers in China to encourage existing investors to further expand and diversify
investments in the Philippines. “Our country remains competitive not only in terms of attracting foreign investments but also in cementing its business-friendly positions,” Rodolfo said. He said the government is upbeat about the post-pandemic recovery of the country given that the economic fundamentals have remained intact. The DTI official cited the 1.4 million jobs restored based on the latest
labor force data and the steady manufacturing index. “We even reached the secondhighest level of approved investments in 2020 (in the Agency’s history) despite the pandemic with over P1 trillion. For 2021, we hit P138 billion as of March, a 66-percent improvement from P83 billion in the same period last year,” he said. Foreign direct investments even improved by 41.5 percent to $961 million in January from $679 million year-on-year, Rodolfo added. Meanwhile, Rodolfo said the recently enacted Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act is also beneficial to Chinese investors. He stressed this measure provides fiscal and non-fiscal incentives for high-value strategic investments, which include a longer period for income tax holiday (ITH) and tax subsidies. CREATE reduced the corporate income tax to 20 percent from 30 percent for domestic corporations with net taxable income of
P5 million and below and have total assets of P100 million and below effective July 1, 2020. All other local firms and resident foreign companies are imposed with 25-percent income tax. “This will open up cash flows to support the efforts of businesses to rebuild during this pandemic and allows the country’s recovery and boost our long-term growth,” Rodolfo said. Established 20 years ago, CEPA has around 90 members, mostly state-owned companies with stakes in agriculture, manufacturing, construction and technology. Philippine exports to China declined by 2.3 percent to $9.59 billion last year from $9.81 billion in 2019. Imports from China, meanwhile, plunged by 22.1 percent to $19.85 billion in 2020 from $25.5 billion year-on-year. BOI and Philippine Economic Zone Authority approved investment pledges amounting to P14.07 billion from China last year, which is 84 percent lower compared to P87.99 billion in 2019.
200 signatories
MEANWHILE, over 200 academics, teachers, researchers, and professionals nationwide, including Mendoza and Batongbacal, supported calls by the scientific and research community to advance proposals such as international scientific cooperation. The signatories also stressed support to Secretary Delfin Lorenzana and the defense establishment in “demanding that the Chinese vessels leave our territory immediately.” They, however, rejected the argument “that asserting our sovereignty, protecting our fisherfolk and managing and protecting our own natural resources constitutes a declaration of war.” The signatories emphasized the call on the government to “look to the concrete examples provided by Vietnam and Indonesia, which have both stood up to China and have taken concrete efforts to counter incursions into their EEZs while maintaining economic ties with China.” Continued on A2
UK seeks exemption from cap on HCW deployment By Samuel P. Medenilla
DTI urges Chinese investors to expand business in PHL
ment will grant the UK’s request to be exempted from the 5,000 deployment cap that Manila imposed to ensure that the Philippines will not suffer a shortage of HCWs vital to its Covid-19 response. “If hiring is through a government-to-government [scheme], it will not be counted under the cap since it will be a state obligation under the bilateral labor agreement,” Olalia explained. Currently, all Filipino HCWs are deployed to UK through Philippine recruitment agencies and are counted under the 5,000 cap. Last month, Olalia said around 3,000 of the deployment cap for this year has already been used. Once the cap is reached, POEA will stop the processing the documents of HCWs bound for abroad until it gets additional guidance to increase the quota from the InterAgency Task Force for the Management of Emerging Infectious Diseases (IATF).
THE Manila City Engineer’s office works double time in setting up a temporary mobile hospital and drive-thru vaccination center in front of the Quirino Grandstand in Manila after the Department of Tourism gave its nod to the project of the City Government of Manila. These facilities will be open to all, not just residents of the capital city. ROY DOMINGO
PBSP call: Prioritize water sustainability
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HE nongovernment Philippine Business for Social Progress (PBSP) has sounded the alarm over the urgency of putting water sustainability back among the country’s concerns amid the ongoing pandemic. PBSP Executive Director Elvin Uy said in a recent online event that issues surrounding water security and access were sent to the back burner in the past year as focus shifted to the economic and health crises arising from Covid-19. Uy stressed that water is a top priority given different threats from climate change, pollution, rapid urbanization and improper management, among others. PBSP Manager Kathleen Almonte, meanwhile, noted that the water source, if not managed prop-
erly, may face shortages, potentially becoming a costly product like oil. Almonte said the Philippines still has major water issues, citing the Metro Manila water shortage in 2019 as La Mesa dried up, and the damage caused by El Niño on agricultural crops. She also flagged the current solid waste disposal situation, which has been worsened by the pandemic, when face masks, personal protection equipment and other healthcare disposables are being dumped into rivers and other water systems. With these concerns, Almonte said the government should team up with the private sector in solving the problem. “Private sector involvement continues to play a critical role in achieving water security,” she said.
“Businesses are a very powerful force in ensuring water access, sanitation and hygiene services for their own workers and the communities they operate in.” Meanwhile, Almonte urged the companies to have better water management, including fixing leakage and improving the efficiency of toilets and faucets. By doing so, the company can cut cost and practice environment-friendly ways. “For many companies, water efficiency is a long-term requirement for staying in business, a big commercial opportunity, or both. To continue operating, companies in most sectors must learn how to do more with less,” she added.
Support for education
EARLIER, PBSP joined Philippine Business for Education (PBEd) and
other organizations in seeking a bigger budget for the education sector and other reforms to address the looming learning crisis. The government earmarked P751.7 billion or 16.7 percent of the 2021 national budget for the education sector. PBEd Chairman Ramon Del Rosario Jr. said earlier the learning loss in the country demands an immediate solution as this can affect both the future of the workforce and the overall economy, explaining that infusing more resources to education can go a long way. He noted many the schools in the country have no internet access despite the increased need for it in the pandemic. In addition, millions of students have decided to drop out of school amid the pandemic, he said. Tyrone Jasper C. Piad
www.businessmirror.com.ph
Companies BusinessMirror
Tuesday, April 20, 2021
Cebu Pacific gets $250M from IFC, Indigo Partners
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By Lorenz S. Marasigan
@lorenzmarasigan
ebu Air Inc., the operator of budget carrier Cebu Pacific (CEB), has received $250 million in fresh funding from the International Finance Corp. (IFC), the IFC Emerging Asia Fund and Indigo Philippines LLC, according to a disclosure to the stock exchange. The new funds are in the form of convertible bonds with transaction closing subject to post-signing deliverables. It is expected to be completed “over the succeeding weeks.” A sister organization of the World Bank, the IFC is the largest global development institution focused exclusively on the private sector in developing countries. The IFC Emerging Asia Fund is a $693-million private equity fund managed by the IFC Asset
Management Co. Indigo Partners LLC is a US-based private equity firm that specializes in investing in the aviation sector. Its current airline investments include Frontier Airlines (USA), Volaris (Mexico), Wizz Air (Europe) and JetSMART (Chile). “The number of underlying shares for the convertible bonds is 318,750,000 common shares with P38.00 conversion price,” the disclosure read.
Candice Iyog, the company’s vice president for marketing, said the new funds will help Cebu Pacific to endure the adverse effects of Covid-19. “This will be used to strengthen Cebu Pacific’s balance sheet as we continue to weather the uncertainties brought about by the pandemic,” she said in a text message. Cebu Pacific is currently implementing a refleeting program and is expecting the delivery of seven more planes this year. It is composed of a mix of Airbus and ATR planes. Most of these planes will be used to replace older aircraft. Currently, Cebu Pacific has a fleet of 74 airliners: 8 A321 neos, 25 Airbus A320s, 7 Airbus A321 ceos, 5 Airbus A320 neos, 7 Airbus A330s, 6 ATR 72-500s, and 13 ATR 72-600s.
Vaccine deliveries
The country’s leading carrier said it flew another batch of Covid-19 vaccines to Tuguegarao and Puerto Princesa on April 16. This shipment of 35,080 doses is the fourth for
the province of Tuguegarao, while Puerto Princesa’s shipment with 6,400 doses, is the second one flown by CEB. “We are happy to be able to carry more of these life-saving vaccines to ensure timely distribution across the archipelago is unhampered. Trust that Cebu Pacific will continue to guarantee these are handled well so they arrive safely and in great condition,” said Alex Reyes, President and CEO of Cebgo. Upon receipt of vaccines at the CEB Cargo Warehouse in Manila on Friday, April 16, they were immediately kept in refrigerated containers to ensure they maintain their optimum conditions until arrival at their intended destinations. The airline said it remains steadfast in supplementing local and national government initiatives to curb Covid-19 cases in the country. To date, Cebu Pacific has delivered approximately 264,000 doses across VisMin and some parts of Luzon. On April 14, CEB also flew 91,200 doses of Covid-19 vaccines to Tacloban, Cotabato, and Zamboanga.
CLI to spend ₧1.5B for Patria de Cebu C ebu Landmasters Inc. (CLI), a property developer in the Visayas and Mindanao regions, on Monday said it is spending some P1.5 billion for the redevelopment of Patria de Cebu. The company said Patria de Cebu is a mixed-use area that will have office space, Mercure Hotel and recreation places. The development is a joint project between the Archdiocese of Cebu, which covers the construction and operation of the mixed-use property for 40 years. The groundbreaking of the complex was timed to also celebrate the 500th year of Christianity in the Philippines. “The final design of Patria de Cebu is a result of collaboration between the Arch-
diocese of Cebu, CLI and key stakeholders. It is a celebration of Cebuano history and culture in today’s setting,” CLI CEO Jose Soberano III said. The project needed the approval of the National Historical Commission of the Philippines as it wants to retain the main Patria building. CLI and the Church commit to preserve the historic edifice of Patria de Cebu and not just its frontage, it said. The said project will have a total of 21,000 square meters of gross floor area and will incorporate a 182-room international hotel. It will have a 4,320 square meters of food, dining and entertainment spaces and 4,400 square meters of offices. The balance will be taken up by Mercure Cebu Downtown set
to open in 2024 to be operated by French hotel chain Accor. Located in front of the cathedral with baroque influences, Patria de Cebu was envisioned by architect Jose Pedro Recio. A new structure will be integrated while preserving the heritage of the main Patria building that will have dining, entertainment and office hub while having a large central interior plaza for cultural and other gatherings. Its rooftop will also be a venue for al fresco events. Mercure Cebu Downtown’s ballroom and meeting rooms will also host social and business gatherings. It will also have a restaurant, executive floor lounge, swimming pool and rooftop bar. VG Cabuag
‘Oil exploration to get boost from vaccine drive’
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CE Enexor Inc. is cautiously optimistic that the ongoing Covid-19 vaccination drive would boost the country’s oil and gas exploration and development activities as it prepares to submit its drilling plans for Service Contract (SC) 55. “We are cautiously optimistic vaccine will help stimulate commercial activity to fuel revival of the upstream industry. The signs in the first quarter are promising. Oil prices have rebounded to pre-Covid levels and drilling activities in the region are slowly picking up. We are hoping the trend will be sustained in the near term,” said ACE Enexor Chairman Eric Francia during the company’s annual stockholders’ meeting yesterday. ACE Exenor subsidiary Palawan55 Exploration and Production Corp. is the operator of SC 55. Palawan55 holds a 75-percent interest in the gas prospect while the remaining 25 percent is under Pryce Gases Inc. SC 55 is a deep-water block located in the southwest Palawan Basin, covering an area of 9,880 sq. km. Francia said Palawan55 is in the process of preparing its drilling plan and would be submitted to the Department of Energy (DOE) within the first half of this year. “Once they approved our plan, we will then commence our procurement of services for the drilling equipment and drilling services in the second half of this year and we’re targeting, at the earliest, second quarter of 2022 actual drilling. So we’re still very much on track,” said Francia. According to ACE Enexor Chief Operating Officer Raymundo Reyes Jr., the preparation of drilling proposal for exploratory well is underway. He described the plan as “comprehensive technical document that
details the plan for constructing borehole and evaluate rock formations and fluids that will be encountered in the subsurface.” Once completed, the proposal will be submitted to the DOE for approval. “Following DOE’s go-ahead, Palawan55 will commence tendering process for the required drilling, major drilling equipment and supplies, and oil field services,” said Reyes. Amid the preparations, the SC55 consortium requested the DOE to declare a one-year force majeure but has yet to be acted upon by the agency. “We are aware of headwinds the pandemic might pose in the near future, such as mobility restrictions and potential supply chain disruptions. Our consortium has requested the DOE for declaration of a oneyear force majeure to cover any unforeseen delay in drilling timetable. Should the force majeure be granted, the SC55 venture will nevertheless continue to exert best efforts to deliver obligatory well as soon as reasonably practicable,” said Reyes. Meanwhile, AC Energy Corp. (ACEN) reaffirmed the Board’s decision to infuse the international assets of its parent, AC Energy and Infrastructure Corp. The international assets are comprised of approximately 1,400 MW of attributable capacity in operation and under construction across multiple geographies including Vietnam, Indonesia, Australia and India. One hundred percent of these capacities are from renewable sources—particularly solar, wind and geothermal. After the infusion is completed, the listed company’s attributable capacity will increase to 2,400MW. Of which, over 1,800MW or 77
B1
percent will come from renewable sources. This puts AC Energy in an excellent position to attain its vision of reaching 5 GW of renewables by 2025, and realize its aspiration of becoming the largest listed renewables platform in Southeast Asia. It is also strengthening its balance sheet and augmenting its cash position. It had just completed its stock rights offering which allowed the company to raise P5.4 billion from the issuance of 2.27 billion primary shares. This was followed by the successful completion of a private placement of 4 billion primary shares to GIC, Singapore’s sovereign wealth fund. The private placement added around P11.9 billion of cash, resulting in a total of P17.3 billion pesos of additional cash in the first quarter of 2021. The planned infusion of the international assets and the recent fund raising will further grow the company’s balance sheet by about three and a half times. “Our strong balance sheet is complemented by a robust pipeline of renewable projects, and our highly capable and motivated team places AC Energy in an excellent position to play a meaningful role in the green-led recovery. We remain committed to continue this journey as we all work towards our aspiration of becoming the largest listed renewables platform in Southeast Asia,” said Francia. ACEN now has over 1,000 MW of attributable capacity in the Philippines, with almost half coming from renewable sources. “We expect the share of renewables to significantly grow over time as the company focuses on scaling up its investments in solar and wind farms.” Lenie Lectura
Axelum income falls 32% on higher costs By VG Cabuag @villygc
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oconut products manufacturer Axelum Resources Corp. said its income last year fell 32 percent to P526.41 million from the previous year’s P774.8 million as its cost rose due to its implementation of Covid-19 protocols and the spike in shipping fees. Revenues fell P5.16 billion from the previous P5.3 billion, but it said the company saw steady performance from its coconut milk powder and desiccated coconut segments and a record volume of coconut water shipments, which grew 20 percent. Gross and net income margins contracted 25 percent and 10 percent, respectively, as it incurred additional costs in complying with Covid-19 protocols. Mobility limitations and physical distancing also added to the cost of raw and packaging materials. The company said shipping fees rose due to container space constraints and the enforcement of intensified health policies to safeguard its workforce, including regular Covid-19 testing and the provision of shuttle services to seamlessly transport workers. “We managed to sustain our profitability by capitalizing on st rateg ic oppor t u n it ies du r ing extra downtime to bolster manufacturing capabilities and develop new products to anchor
long-term growth. At the same time, we strictly implemented health and sanitation policies to prevent virus transmissions, allowing us to operate continuously without interruption,” Henry J. Raperoga, the company’s president and COO, said. To date, Axelum has reconfigured its nut opening facility to boost capacity by 42 percent, while staying compliant with physical distancing guidelines. Coconut milk extraction procedures were improved translating to increased manufacturing yields for coconut milk powder and coconut milk/cream. Construction of new warehouses is currently underway in anticipation of impending storage requirements, it said. For 2021, Axelum has allocated approximately P350 million in capital spending, slightly lower than lat year’s spending of P400 million. The company said the capex this year will be used to fund ongoing and planned plant enhancements, equipment upgrades, new product initiatives and other support projects. In terms of distribution, Axelum said it is broadening its market reach both domestically and overseas by appointing reputable distributors in high-demand areas. It is also evaluating potential international and local joint-venture partnerships for value-enhancing and strategic purposes.
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Companies BusinessMirror
Tuesday, April 20, 2021
PSE STOCK QUOTATIONS
April 19, 2021
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 PB BANK PHIL NATL BANK PSBANK RCBC SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL FIRST ABACUS FERRONOUX HLDG IREMIT MEDCO HLDG MANULIFE NTL REINSURANCE PHIL STOCK EXCH SUN LIFE VANTAGE
41.8 105.2 82.95 22.85 9.49 44.85 9.49 22.9 55.3 17.1 115 70.5 1.65 3.95 0.62 3.3 1.5 0.4 955 0.73 147.8 2,338 0.97
42 105.3 83 22.9 9.5 44.9 10.3 23 56.6 17.5 115.1 71.3 1.68 3.96 0.63 3.4 1.52 0.425 995 0.77 148 2,346 1.02
42 104.9 83.8 22.9 9.55 44.8 10.26 22.9 55.3 17.1 118.7 71 1.7 3.95 0.62 3.24 1.47 0.4 993 0.77 148 2,346 0.97
42 105.4 83.8 22.9 9.55 45 10.28 23.3 56.65 17.5 118.7 71.3 1.7 3.97 0.62 3.49 1.48 0.43 993 0.77 148 2,346 0.97
42 104 82.95 22.85 9.49 44.65 10.26 22.9 55.3 17.08 112.1 70 1.62 3.9 0.62 3.24 1.47 0.4 993 0.72 147.8 2,346 0.97
42 105.2 83 22.9 9.5 44.9 10.28 22.9 56.6 17.5 115 71.3 1.65 3.96 0.62 3.3 1.47 0.43 993 0.73 147.8 2,346 0.97
11,400 478,800 2,024,810 212,632,735 1,774,410 147,806,225.50 91,900 2,104,505 176,200 1,675,137 1,135,900 50,937,605 21,000 215,860 530,900 12,223,470 2,420 135,344 15,500 265,144 902,010 104,633,883 3,640 257,953 290,000 481,150 312,000 1,228,390 114,000 70,680 215,000 716,100 33,000 48,580 20,000 8,300 20 19,860 4,203,000 3,067,730 3,890 575,434 5 11,730 11,000 10,670
415,800 115,221,837 -101,839,909 -2,031,230 -1,164,999 -14,692,330 -10,074,240 5,250 -45,938,104 7,810 40 -424,150 -3,030,960 76,942 -
INDUSTRIAL AC ENERGY 7.48 7.49 7.25 7.5 7.18 7.49 14,041,200 102,868,513 1.28 1.29 1.29 1.31 1.28 1.29 1,432,000 1,847,580 ALSONS CONS ABOITIZ POWER 23.5 23.6 23.55 23.8 23.5 23.5 593,500 14,004,900 1.02 1.03 1.08 1.09 1.03 1.03 67,202,000 71,186,430 BASIC ENERGY 31 31.35 30.9 31.3 30.5 31.3 956,000 29,685,525 FIRST GEN FIRST PHIL HLDG 67.25 67.5 67.25 67.5 67.15 67.25 35,750 2,404,003.50 273.6 274.2 274 276 273.6 273.6 83,760 22,961,538 MERALCO 14.44 14.48 14.44 14.48 14.3 14.44 906,900 13,058,848 MANILA WATER PETRON 3.18 3.21 3.22 3.25 3.18 3.18 552,000 1,772,840 3.73 3.88 3.89 3.89 3.88 3.88 8,000 31,090 PETROENERGY 12.02 12.24 12.22 12.3 12.22 12.28 24,100 296,194 PHX PETROLEUM PILIPINAS SHELL 20.55 20.65 20.4 20.55 20.4 20.55 156,900 3,222,080 10.64 10.66 10.8 10.82 10.66 10.66 419,500 4,507,204 SPC POWER 6.85 6.97 6.99 7 6.85 6.97 2,906,900 20,169,110 AGRINURTURE AXELUM 3.43 3.44 3.45 3.45 3.41 3.44 444,000 1,520,540 20 20.05 19.04 20.05 19.02 20 4,287,000 85,391,172 CENTURY FOOD 9.78 9.8 9.9 9.9 9.62 9.78 200,900 1,961,016 DEL MONTE DNL INDUS 7.14 7.15 7.15 7.17 7.11 7.14 525,200 3,747,762 10.36 10.38 10.44 10.44 10.38 10.38 3,903,900 40,524,706 EMPERADOR 68.4 68.5 68.8 69 67.5 68.5 266,130 18,295,243 SMC FOODANDBEV ALLIANCE SELECT 0.65 0.66 0.65 0.66 0.63 0.66 144,000 93,060 1.37 1.4 1.37 1.4 1.36 1.4 3,464,000 4,762,350 FRUITAS HLDG 55.5 55.95 54.5 56.05 54.2 55.5 540,750 29,873,575 GINEBRA JOLLIBEE 176 176.8 180 181 175.3 176 522,700 92,768,545 31.3 31.8 31.4 31.8 31.4 31.8 1,500 47,220 LIBERTY FLOUR 7.35 7.83 7.83 7.83 7.34 7.83 300 2,300 MACAY HLDG MAXS GROUP 5.89 5.92 6 6 5.88 5.88 160,400 949,422 0.33 0.335 0.34 0.34 0.33 0.33 5,960,000 1,981,750 MG HLDG SHAKEYS PIZZA 7.29 7.34 7.27 7.29 7.26 7.29 36,900 268,235 1.03 1.06 1.06 1.07 1 1.06 4,124,000 4,258,870 ROXAS AND CO 4.62 4.74 4.65 4.65 4.65 4.65 1,000 4,650 RFM CORP SWIFT FOODS 0.133 0.136 0.133 0.136 0.133 0.134 2,700,000 362,550 UNIV ROBINA 125.5 125.7 129 129.2 125.1 125.5 1,192,970 151,023,160 0.83 0.84 0.82 0.84 0.81 0.83 396,000 328,030 VITARICH VICTORIAS 2.27 2.3 2.28 2.28 2.28 2.28 2,000 4,560 55.95 60 55.05 55.95 55.05 55.95 1,050 58,677.50 CONCRETE A 1.28 1.29 1.23 1.28 1.21 1.28 8,100,000 10,236,690 CEMEX HLDG DAVINCI CAPITAL 3.01 3.02 3 3.1 2.97 3.01 1,798,000 5,438,620 EAGLE CEMENT 11.52 11.68 11.66 11.66 11.5 11.52 33,300 385,102 7.4 7.46 7.31 7.46 7.31 7.4 968,500 7,182,547 EEI CORP HOLCIM 5.62 5.68 5.59 5.75 5.59 5.68 110,700 626,547 MEGAWIDE 7.13 7.14 7.3 7.32 7.05 7.14 337,200 2,406,648 12.3 12.36 12.38 12.38 12.3 12.3 19,100 236,140 PHINMA TKC METALS 1.18 1.2 1.24 1.34 1.17 1.2 4,589,000 5,687,060 VULCAN INDL 2.24 2.25 2.46 2.46 2.25 2.25 11,878,000 27,534,080 1.86 1.9 1.86 1.94 1.83 1.87 1,524,000 2,873,940 CROWN ASIA EUROMED 1.97 2 2 2 1.97 1.97 49,000 97,630 5.21 5.43 5.24 5.35 5.21 5.21 346,700 1,850,311 PRYCE CORP 21.6 21.85 21.65 21.65 21.2 21.6 17,700 379,270 CONCEPCION GREENERGY 3.71 3.72 3.82 3.82 3.69 3.72 8,484,000 31,791,280 INTEGRATED MICR 11.28 11.3 11.3 11.4 11 11.3 463,000 5,212,312 1.1 1.12 1.13 1.13 1.1 1.1 59,000 65,380 IONICS PANASONIC 5.7 5.75 5.65 5.75 5.65 5.75 5,100 29,215 1.35 1.38 1.37 1.39 1.36 1.36 414,000 566,880 SFA SEMICON 5.85 5.9 5.96 6 5.82 5.9 654,900 3,865,552 CIRTEK HLDG
-1,020,056 -7,656,675 -3,137,190 16,740,195 -89,423 -11,400,626 203,804 594,540 795,870 149,752 -3,656,019 -304,850 -7,804,274 631,470 -1,163,297 -122,354 -2,039,366 14,970 18,391,591.50 -51,388,418 -190,617 -218,900 9,530 13,400 -86,447,077 -6,640 -632,410 23,900.00 -309,858.00 1,774,177 -107,059 -20,389 -228,730 -193,800 -581,830.00 -61,510 1,621,726 36,125 1,207,510 109,746 212,052
HOLDING & FRIMS ABACORE CAPITAL 1.15 1.16 1.17 1.2 1.15 1.16 17,601,000 20,501,870 7.35 7.39 7.4 7.4 7 7.35 2,600 18,765 ASIABEST GROUP AYALA CORP 745 750.5 759 759 745 745 147,660 110,529,700 34.7 35.4 35.7 35.7 34.65 34.7 686,100 23,911,435 ABOITIZ EQUITY 10.76 10.78 10.9 10.9 10.72 10.78 915,900 9,889,484 ALLIANCE GLOBAL AYALA LAND LOG 3.46 3.47 3.33 3.47 3.33 3.47 8,435,000 28,719,460 6.65 6.78 6.79 6.79 6.65 6.65 4,200 28,028 ANSCOR 0.67 0.71 0.73 0.73 0.67 0.67 5,745,000 3,947,650 ANGLO PHIL HLDG ATN HLDG A 0.73 0.74 0.74 0.74 0.73 0.73 2,460,000 1,801,440 0.73 0.77 0.73 0.73 0.73 0.73 120,000 87,600 ATN HLDG B 5.15 5.18 5.21 5.21 5.12 5.18 605,300 3,121,766 COSCO CAPITAL DMCI HLDG 5.27 5.28 5.28 5.3 5.25 5.28 858,600 4,527,570 8.22 8.35 8.35 8.35 8.21 8.35 4,100 34,137 FILINVEST DEV 0.26 0.29 0.29 0.29 0.26 0.26 350,000 91,600 FORUM PACIFIC GT CAPITAL 532 536.5 536 538 532 532 42,220 22,595,470 3.66 3.72 3.64 3.72 3.64 3.72 10,000 36,890 HOUSE OF INV 58.2 58.35 59.25 59.25 58.2 58.35 1,329,760 77,818,543.50 JG SUMMIT LODESTAR 1.08 1.09 1.1 1.12 1.07 1.09 2,422,000 2,633,160 3.37 3.47 3.46 3.48 3.4 3.48 367,000 1,249,050 LOPEZ HLDG 13.52 13.6 13.62 13.62 13.44 13.6 1,279,200 17,366,384 LT GROUP METRO PAC INV 3.98 4 4.01 4.01 3.92 3.98 12,925,000 51,457,940 3.69 3.83 3.89 3.99 3.69 3.69 27,000 104,360 PACIFICA HLDG 3.28 3.29 3.17 3.29 3.16 3.29 5,851,000 18,848,180 PRIME MEDIA SOLID GROUP 1.3 1.32 1.23 1.36 1.23 1.32 432,000 571,320 360 373 365 373 360 373 130 47,700 SYNERGY GRID 972 975 977 980 965.5 975 103,910 101,240,760 SM INVESTMENTS SAN MIGUEL CORP 116.5 117 116.8 117 116.2 117 35,790 4,177,264 0.7 0.71 0.71 0.73 0.71 0.71 100,000 71,530 SOC RESOURCES TOP FRONTIER 135 138 135 138 135 138 5,220 706,350 0.26 0.265 0.255 0.265 0.255 0.265 450,000 118,300 WELLEX INDUS 0.23 0.236 0.215 0.236 0.213 0.236 6,110,000 1,395,920 ZEUS HLDG
-5,744,680.00 -10,675 -79,150,325 172,310 -4,652,816 10,391,780 -45,770 -1,164,087 35,913 -16,700 -2,777,600 4,970,595 -54,500 -11,075,772 -34,944,860 -4,840,790 -11,512,090 -582,964 -26,000 -
PROPERTY ARTHALAND CORP 0.66 0.67 0.65 0.66 0.65 0.66 334,000 219,790 33.3 33.45 33.1 33.6 33.05 33.45 7,610,500 253,796,530 AYALA LAND ARANETA PROP 1.22 1.3 1.2 1.3 1.2 1.3 102,000 123,960 33.5 33.8 33.9 33.9 33.5 33.5 1,055,700 35,492,075 AREIT RT 1.58 1.59 1.58 1.6 1.58 1.59 2,246,000 3,592,620 BELLE CORP A BROWN 0.89 0.91 0.92 0.92 0.89 0.91 311,000 280,100 1.03 1.04 1 1.08 1 1.03 2,838,000 2,933,680 CITYLAND DEVT 0.133 0.135 0.137 0.137 0.132 0.135 650,000 87,170 CROWN EQUITIES CEBU HLDG 6.32 6.5 6.28 6.31 6.27 6.31 12,000 75,500 5.66 5.67 5.6 5.67 5.57 5.67 586,100 3,305,413 CEB LANDMASTERS 0.385 0.39 0.38 0.39 0.37 0.385 22,640,000 8,609,800 CENTURY PROP CYBER BAY 0.345 0.35 0.335 0.345 0.335 0.345 470,000 157,950 13.04 13.06 13.32 13.32 13.06 13.06 633,500 8,319,040 DOUBLEDRAGON 2.18 2.19 2.2 2.2 2.17 2.18 11,100,000 24,227,520 DDMP RT DM WENCESLAO 6.8 6.85 6.7 6.9 6.7 6.8 62,200 418,107 0.29 0.295 0.28 0.29 0.28 0.29 330,000 94,500 EMPIRE EAST 0.133 0.134 0.125 0.135 0.123 0.133 16,410,000 2,129,530 EVER GOTESCO FILINVEST LAND 1.11 1.13 1.13 1.13 1.11 1.13 5,293,000 5,931,230 0.83 0.86 0.83 0.83 0.82 0.83 10,000 8,280 GLOBAL ESTATE 7.23 7.44 7.22 7.47 7.22 7.22 96,100 710,635 8990 HLDG PHIL INFRADEV 1.38 1.39 1.38 1.39 1.37 1.38 349,000 481,040 2.3 2.31 2.09 2.33 2.09 2.3 25,821,000 58,040,420 CITY AND LAND 3.23 3.29 3.39 3.43 3.23 3.23 78,616,000 257,838,630 MEGAWORLD MRC ALLIED 0.395 0.4 0.4 0.405 0.395 0.4 12,020,000 4,794,350 0.72 0.73 0.68 0.73 0.67 0.73 32,885,000 23,152,240 PHIL ESTATES 3.19 3.2 3.1 3.23 3.07 3.19 5,267,000 16,748,760 PRIMEX CORP ROBINSONS LAND 17.32 17.48 17.4 17.52 17.32 17.32 550,700 9,567,542 0.265 0.27 0.26 0.265 0.26 0.265 560,000 146,450 PHIL REALTY ROCKWELL 1.5 1.54 1.58 1.6 1.5 1.54 517,000 796,500 SHANG PROP 2.61 2.69 2.66 2.66 2.66 2.66 3,000 7,980 2.24 2.29 2.28 2.29 2.28 2.29 20,000 45,790 STA LUCIA LAND SM PRIME HLDG 35.4 35.5 35.7 35.75 35.2 35.5 4,799,600 170,354,400 VISTAMALLS 3.67 3.89 3.91 3.91 3.91 3.91 10,000 39,100 1.54 1.57 1.55 1.59 1.53 1.54 622,000 969,870 SUNTRUST HOME VISTA LAND 3.69 3.7 3.74 3.76 3.68 3.7 1,826,000 6,783,960
-11,880 -55,481,760 -20,302,675 -160,690 -887,960 -184,301.00 100,600 -1,873,508 -916,760 -1,360 30,970 -3,988,070 216,570 -48,839,430 -64,000 121,720 7,850,660 -1,896,812.00 -238,500 -39,569,975 -1,242,160
SERVICES ABS CBN 10.9 10.94 11 11 10.9 10.92 27,600 302,096 7.81 7.82 7.51 8.05 7.51 7.82 15,650,100 122,147,744 GMA NETWORK GLOBE TELECOM 1,850 1,854 1,850 1,850 1,841 1,850 41,300 76,331,910 1,242 1,244 1,260 1,260 1,242 1,244 71,810 89,715,215 PLDT 0.221 0.222 0.23 0.231 0.22 0.222 507,030,000 113,914,190 APOLLO GLOBAL CONVERGE 18.78 18.8 18.48 18.9 18.48 18.8 4,001,400 75,304,220 3.97 4.1 4.2 4.2 3.97 4.1 191,000 770,710 DFNN INC 10.74 10.76 10.84 10.86 10.68 10.74 6,493,000 69,743,772 DITO CME HLDG JACKSTONES 2.05 2.15 2.06 2.16 2.06 2.16 15,000 31,000 2.76 2.8 2.84 2.84 2.74 2.76 2,552,000 7,109,570 NOW CORP 0.44 0.445 0.44 0.45 0.44 0.445 4,860,000 2,157,450 TRANSPACIFIC BR PHILWEB 2.66 2.68 2.66 2.68 2.65 2.68 186,000 495,550 8.9 8.99 8.6 9.15 8.6 9 159,300 1,428,713 2GO GROUP 15.02 15.5 15 15 15 15 200 3,000 ASIAN TERMINALS CHELSEA 3.35 3.39 3.35 3.41 3.34 3.35 329,000 1,104,600 48.3 48.4 50 50 48.1 48.3 140,650 6,813,390 CEBU AIR 128.7 129 127.9 130.4 127.1 129 3,384,050 436,120,728 INTL CONTAINER LBC EXPRESS 15.82 16.38 16.4 16.4 16.4 16.4 700 11,480 4.88 4.91 5 5 4.86 4.88 1,178,000 5,792,240 MACROASIA 2.36 2.4 2.38 2.42 2.35 2.36 462,000 1,091,530 METROALLIANCE A METROALLIANCE B 2.39 2.69 2.33 2.4 2.33 2.39 42,000 100,410 6.08 6.1 6.01 6.1 6 6.1 11,800 71,033 PAL HLDG 1.21 1.23 1.31 1.31 1.19 1.23 2,006,000 2,441,720 HARBOR STAR ACESITE HOTEL 1.83 1.87 1.8 2.14 1.72 1.87 1,432,000 2,774,610 0.103 0.104 0.091 0.103 0.091 0.103 1,487,530,000 147,997,410 BOULEVARD HLDG DISCOVERY WORLD 3.69 3.7 3.76 3.76 3.64 3.7 293,000 1,086,140 0.65 0.66 0.64 0.66 0.63 0.66 4,994,000 3,220,430 WATERFRONT 580 595 580 580 580 580 80 46,400 FAR EASTERN U IPEOPLE 6.88 7.5 7.5 7.5 7.5 7.5 100 750 0.385 0.39 0.385 0.385 0.385 0.385 170,000 65,450 STI HLDG 4.46 4.65 4.65 4.65 4.65 4.65 4,000 18,600 BERJAYA BLOOMBERRY 6.95 7 7.04 7.05 6.93 7 2,820,800 19,769,559 LEISURE AND RES 1.75 1.82 1.8 1.88 1.74 1.75 1,244,000 2,231,310 2.09 2.1 2.12 2.13 2.05 2.09 5,323,000 11,123,050 PH RESORTS GRP PREMIUM LEISURE 0.455 0.465 0.465 0.465 0.45 0.455 5,970,000 2,744,550 PHIL RACING 6.1 6.15 6.15 6.15 6.05 6.1 2,000 12,200 7.82 7.99 7.99 7.99 7.82 7.99 62,000 489,014 ALLHOME METRO RETAIL 1.31 1.32 1.34 1.34 1.31 1.31 445,000 584,960 PUREGOLD 36.3 36.35 36.65 37.05 36.3 36.3 1,151,300 42,328,635 52.8 54.1 54.5 54.5 52.5 52.8 1,113,000 59,372,889.50 ROBINSONS RTL PHIL SEVEN CORP 103 104 103 103 103 103 520 53,560 SSI GROUP 1.21 1.22 1.22 1.24 1.21 1.21 402,000 487,700 17.62 17.64 17.62 17.78 17.22 17.62 1,542,600 27,187,546 WILCON DEPOT APC GROUP 0.39 0.395 0.395 0.4 0.385 0.385 6,040,000 2,331,350 GOLDEN MV 438 443.2 438 443.2 438 443.2 360 158,732 5.05 5.1 5 5.1 4.9 5.1 5,400 26,770 IPM HLDG PRMIERE HORIZON 2.21 2.22 2.23 2.26 2.21 2.21 10,365,000 23,122,880 SBS PHIL CORP 4.28 4.3 4.28 4.3 4.27 4.3 28,000 120,170
-3,368,035 -42,318,620 959,170 32,203,354 80,220 -747,370 50,900 167,650 -45,110 860 16,850 2,747,515 16,297,479 -1,492,030 36,000 -37,330 -100,000 -3,168,380 9,450 -5,039,771 -590,770 -80,950 -176,700 -190,846 -178,180 -12,470,995 -7,704,418.50 48,410 -7,310 11,170,628 577,500 -625,850 -
MINING & OIL ATOK 9.8 9.95 9.7 10.04 9.6 9.8 2,101,800 20,518,647 -6,400,896 APEX MINING 1.6 1.61 1.59 1.64 1.59 1.61 4,214,000 6,804,930 -59,420 6.46 6.48 6.49 6.54 6.44 6.48 731,400 4,738,037 24,031 ATLAS MINING 3 3.1 3 3.11 3 3 94,000 282,310 BENGUET A BENGUET B 2.82 2.9 2.82 2.82 2.82 2.82 3,000 8,460 -2,820 0.31 0.33 0.315 0.33 0.3 0.33 1,020,000 322,150 COAL ASIA HLDG 2.75 2.79 2.8 2.8 2.61 2.8 56,000 152,380 110,330 CENTURY PEAK DIZON MINES 8.18 8.37 8.4 8.5 8.1 8.37 2,887,000 23,617,804 -850 2.71 2.72 2.79 2.8 2.7 2.72 3,431,000 9,358,460 -656,180 FERRONICKEL 0.355 0.365 0.355 0.37 0.35 0.355 75,400,000 26,774,150 7,000 GEOGRACE LEPANTO A 0.162 0.163 0.161 0.165 0.157 0.162 88,360,000 14,328,570 0.163 0.164 0.16 0.167 0.159 0.165 9,190,000 1,494,400 -30,780 LEPANTO B 0.012 0.013 0.012 0.014 0.01 0.013 2,678,700,000 33,556,500 MANILA MINING A MANILA MINING B 0.013 0.014 0.012 0.014 0.011 0.013 378,200,000 4,989,000 125,000 1.38 1.39 1.34 1.42 1.34 1.39 1,163,000 1,599,700 -71,770 MARCVENTURES 1.87 1.88 1.89 1.9 1.82 1.87 268,000 500,290 NIHAO NICKEL ASIA 5.51 5.54 5.41 5.55 5.41 5.51 6,377,400 35,059,416 6,294,149 0.405 0.415 0.415 0.415 0.415 0.415 80,000 33,200 OMICO CORP 1.06 1.07 1.03 1.12 1.03 1.06 6,359,000 6,896,290 ORNTL PENINSULA PX MINING 5.18 5.22 5.12 5.25 5.12 5.22 1,683,200 8,776,316 -104,199 12.16 12.18 12.16 12.18 11.96 12.16 1,596,400 19,333,338 5,512,710 SEMIRARA MINING 0.0099 0.01 0.0098 0.01 0.0093 0.01 351,000,000 3,445,900 -1,200.00 UNITED PARAGON ACE ENEXOR 21.6 21.65 22.75 22.75 21.5 21.65 449,900 9,836,605 759,325 0.012 0.013 0.013 0.013 0.012 0.013 41,600,000 504,500 ORNTL PETROL A 0.012 0.013 0.012 0.012 0.012 0.012 1,400,000 16,800 ORNTL PETROL B PHILODRILL 0.012 0.013 0.012 0.013 0.012 0.012 19,000,000 229,100 8 8.06 8.2 8.2 8 8 381,700 3,078,759 -251,444 PXP ENERGY PREFFERED HOUSE PREF B 100.3 101 101 101 101 101 10,000 1,010,000 100 101 100 101 100 101 1,130 113,630 HOUSE PREF A AC PREF B1 515 550 515 515 515 515 300 154,500 102.2 109.9 102.5 102.5 102.1 102.1 740 75,750 ALCO PREF C 45.5 45.8 47.45 47.45 44.05 45.5 166,600 7,691,940 2,069,305 CEB PREF DD PREF 101 102 101 101 101 101 11,500 1,161,500 106.8 110.5 106.8 106.8 106.8 106.8 10,000 1,068,000 FGEN PREF G 1,031 1,048 1,048 1,048 1,048 1,048 2,470 2,588,560 GTCAP PREF B MWIDE PREF 100.8 102.1 101 102.1 100.8 102.1 86,790 8,853,803 103.5 104 104.6 104.6 104.6 104.6 20 2,092 PNX PREF 3B 995 999 1,000 1,000 992 995 1,105 1,100,155 PNX PREF 4 PCOR PREF 3A 1,117 1,118 1,117 1,117 1,117 1,117 11,000 12,287,000 1,129 1,155 1,129 1,129 1,129 1,129 100 112,900 PCOR PREF 3B 79 79.7 79 79.7 79 79.7 5,490 433,717 SMC PREF 2C SMC PREF 2E 76.3 77.8 76.3 76.3 76.3 76.3 1,500 114,450 78.5 79.9 78.5 78.5 78.5 78.5 590 46,315 SMC PREF 2F 78.7 79.5 78.7 79.5 78.7 79.5 8,010 630,395 SMC PREF 2I SMC PREF 2K 76.55 76.9 76.9 76.9 76.55 76.55 2,780 212,819.50 - PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 10.5 10.6 10.6 10.6 10.6 10.6 78,700 834,220 -700,660 7.54 7.55 7.89 7.89 7.35 7.55 1,125,000 8,579,805 3,546,361 GMA HLDG PDR WARRANTS LR WARRANT 2.08 2.12 2.12 2.19 2.05 2.09 2,050,000 4,312,030 - SMALL & MEDIUM ENTERPRISES ALTUS PROP 19.62 19.72 19.62 19.72 19.44 19.72 116,100 2,275,442 33,408 2.5 2.51 2.45 2.52 2.45 2.51 101,000 252,270 -12,550 ITALPINAS KEPWEALTH 5.4 5.6 5.4 5.6 5.4 5.6 56,700 314,560 5.5 5.51 5.57 5.58 5.4 5.5 8,813,700 48,521,719 -53,554 MERRYMART EXHANGE TRADE FUNDS FIRST METRO ETF 98 98.95 100.2 100.2 98 98 44,440 4,382,465 370,652.50
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PHL Seven posts ₧419.7-M loss as lockdowns cut sales By VG Cabuag
P
@villygc
hilippine Seven Corp., the local licensee of 7-Eleven convenience stores in the country, said it incurred a net loss of P419.7 million last year, a reversal of the P1.44 billion it generated in 2019. Philippine Seven said the pandemic adversely affected sales as lockdown restrictions were imposed under different classifications of community quarantine. Sales of 7-Eleven stores in the office and school clusters were the most affected. Systemwide sales for the en-
tire year fell 17 percent to P46.46 billion from the previous year’s P56.33 billion. The company, however, posted an income of P165.6 million in the fourth quarter, down by 78 percent from the previous year’s P748.7 million. Systemwide sales declined 23
percent to P12.03 billion from the previous year’s P15.7 billion. “We are not out of the woods, by any stretch. Our financial performance has been abysmal, and when our profit and growth numbers will return depend on not just the pandemic and how the Philippines navigates it’s end, but on how quickly our online and offline pivots take root, if at all,” Jose Victor Paterno, the company’s president and CEO, said. “In times like these, we believe it is better to look not at numbers and forecasts but instead at one’s position relative to others caught in the same fierce – and unpredictable – storm. In that regard, we take pride and confidence in a proactive pivot executed at speed helped as it was by pre-work before the pandemic, relative to that of our more optimistic peers.” The company ended 2020 with a nationwide store count of 2,978
stores. There are 2,261 7-Eleven stores in Luzon, some 1,010 of which are in Metro Manila, 432 in Visayas and 285 in Mindanao. The franchised-stores accounted for 55 percent of the total, while the remaining 45 percent are corporate-owned. Majority of 7-Eleven convenience stores remained open to provide essential products and services to the communities where it is present. Fewer than 7 percent of its store base were temporarily closed by the end of the year, the company said. Philippine Seven, in partnership with Seven Bank of Japan, has started the installation of its cashrecycling ATMs in more than 150 7-Eleven stores in Metro Manila and nearby provinces. These ATMs are expected to compliment the growing service business of 7-Eleven and also contribute in increasing the level of financial inclusion in the Philippines.
NEA lends ₧102M to electric co-ops By Lenie Lectura @llectura
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he National Electrification Administration (NEA) has extended P102 million in loans to electric cooperatives in the first quarter. Latest data from the NEA Accounts Management and Guarantee Department (AMGD) showed that from January to March this year, P102.4 million was released to 5 ECs. Of the amount, P59.5 million went to Davao del Norte Electric Cooperative, Inc. (DANECO) and the Camarines Sur III Electric Cooperative Inc. (CASURECO III) for their capital expenditure (capex) projects and working capital requirements. For 2021, the NEA has set a target of P500 million to support the funding requirements of ECs in implementing their various rural electrification projects. The amount does not include calamity loans.
“Under the NEA Lending and Guarantee Program, our ECs may avail of the needed financial assistance for their electrification projects to improve the operational efficiencies and delivery of electric services to their consumers,” NEA Administrator Edgardo Masongsong said. Meanwhi le, NE A e x tended P42.9-million worth of calamity loans to 4 ECs, namely, CASURECO III, Marinduque Electric Cooperative, Inc. (MARELCO), Oriental Mindoro Electric Cooperative Inc. (ORMECO), and Quezon I Electric Cooperative Inc. (QUEZELCO I). These ECs availed of the calamity loans for the repair and rehabilitation of their respective power distribution systems and other facilities that were damaged by typhoons Quinta, Rolly, and Ulysses last year. The calamity loan offered by the NEA has a maximum 10-year repayment term, with a grace period of one year and an interest rate of 3.25 percent per annum.
Taguig malls to house vaccination centers T
he city government of Taguig has partnered with Vista Mall, Megaworld, SM and Ayala to boost their local ongoing vaccine rollout. Mayor Lino Edgardo Cayetano said these mall giants have agreed to house and establish vaccination centers within their mall premises. The development came as the city continues its aggressive Covid-19 vaccination drive that has seen thousands of medical workers, senior citizens, and persons with comorbidities, among others, already vaccinated. “I take it as a sign of trust in the local government that our big stakeholders have all reached out to help with our community vaccination,” Cayetano said. Taguig City has among the lowest Covid-19 cases per 100,000 population in Metro Manila, and Cayetano attributes this to the local government’s strong partnerships with its citizens and business community. Aside from having the largest network of barangay health workers, the city also boasts of 10,000 designated Covid-19
safety officers who diligently assist in the city’s extensive disease surveillance and in establishing strict health and safety protocols. Taguig also prides itself with its 34 massive testing centers and network of disease surveillance officers from the private and public sector. “Vaccination will be key to moving faster towards the new future,” Cayetano said. He said Taguig wants to lead that transition, with a whole of society approach. “Relying on the strengths of various individuals and institutions, we believe we can make 2021 the year we bounce back and recover,” he added. Taguig has opened 7 vaccination sites apart from the additional mall vaccination sites and launched a new vaccination bus as part of its plan to aggressively vaccinate its population. The local government also made an assurance that it has ordered a diverse portfolio of vaccines to complement the national government supply to ensure citizens will get inoculated free of charge. Claudeth Mocon-Ciriaco
mutual funds
April 19, 2021
NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds ALFM Growth Fund, Inc. -a 208.34 13.99% -7.81% -3.85% -8.31% ATRAM Alpha Opportunity Fund, Inc. -a 1.2904 38.17% -6.61% 1.13% -1.72% ATRAM Philippine Equity Opportunity Fund, Inc. -a 2.8659 16.78% -12.14% -6.04% -8.53% Climbs Share Capital Equity Investment Fund Corp. -a 0.7334 15.71% -7.64% n.a. -8.77% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.6776 4.39% n.a. n.a. -8.63% First Metro Save and Learn Equity Fund,Inc. -a 4.5718 15.27% -5.58% -2.91% -7.48% 6.78% -9.47% -7.59% -13.17% First Metro Save and Learn Philippine Index Fund, Inc. -a,4 0.6597 MBG Equity Investment Fund, Inc. -a 96.82 32.34% -6.21% n.a. -5.02% PAMI Equity Index Fund, Inc. -a 42.7976 17.22% -5.9% -2.57% -8.65% Philam Strategic Growth Fund, Inc. -a 448.13 14.26% -5.92% -3.11% -8.35% Philequity Alpha One Fund, Inc. -a,d,5 1.0226 25.32% n.a. n.a. -6.81% Philequity Dividend Yield Fund, Inc. -a 1.0946 16.88% -5.26% -1.92% -6.3% Philequity Fund, Inc. -a 32.0611 16.62% -5.54% -1.58% -7.79% Philequity MSCI Philippine Index Fund, Inc. -a 0.831 15.1% n.a. n.a. -8.98% Philequity PSE Index Fund Inc. -a 4.3827 17.9% -5.4% -1.81% -8.53% 733.16 18.02% -5.29% -1.95% -8.54% Philippine Stock Index Fund Corp. -a Soldivo Strategic Growth Fund, Inc. -a 0.6644 17.01% -9.6% -5.39% -7.58% Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.3192 14.19% -7.46% -3.33% -8.41% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.8377 17.46% -5.65% -2.08% -8.72% United Fund, Inc. -a 3.0773 16.03% -5.05% -0.87% -7.28% Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 98.3733 18.07% -5.09% -1.28% -8.54% Primarily invested in foreign currency securities ATRAM AsiaPlus Equity Fund, Inc. -b $1.2698 46.22% 4.66% 8.27% 5.56% Sun Life Prosperity World Voyager Fund, Inc. -a $1.7571 47.26% 5.04% 10.94% n.a. Balanced Funds Primarily invested in Peso securities ATRAM Dynamic Allocation Fund, Inc. -a 1.628 10.34% -2.04% -1.4% -2.43% ATRAM Philippine Balanced Fund, Inc. -a 2.1525 12.02% -2.57% -0.71% -5.82% First Metro Save and Learn Balanced Fund Inc. -a 2.4956 9.25% -1.47% -1.4% -5% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,1 0.1877 4.34% n.a. n.a. -5.49% NCM Mutual Fund of the Phils., Inc. -a 1.8955 7.44% 0.34% 0.56% -3.49% PAMI Horizon Fund, Inc. -a 3.5427 9.2% -1.09% -0.73% -6.48% Philam Fund, Inc. -a 15.8811 9.3% -1.01% -0.72% -6.23% Solidaritas Fund, Inc. -a 1.992 9.56% -2% -0.48% -4.88% Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.3726 9.3% -3.47% -1.76% -5.61% Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 0.9561 9.41% n.a. n.a. -6.5% Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.8654 11.98% n.a. n.a. -8.83% Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.8497 13.1% n.a. n.a. -8.94% Sun Life Prosperity Dynamic Fund, Inc. -a 0.8328 10.83% -4.44% -2.38% -6.18% Primarily invested in foreign currency securities Cocolife Dollar Fund Builder, Inc. -a $0.0381 0.61% 2.6% 1.34% -2.61% PAMI Asia Balanced Fund, Inc. -b $1.1406 25.38% 2.63% 4.86% -0.83% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.6668 33.73% 8.09% 8.47% 3.41% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,3 $1.2039 17.52% 4.02% n.a. 0.15% Bond Funds Primarily invested in Peso securities ALFM Peso Bond Fund, Inc. -a 370.33 2.46% 3.09% 2.5% -0.2% ATRAM Corporate Bond Fund, Inc. -a 1.9099 -0.67% 0.77% 0.18% 0.51% Cocolife Fixed Income Fund, Inc. -a 3.2199 1.96% 4% 4.47% 0.16% Ekklesia Mutual Fund Inc. -a 2.2501 -0.31% 2.19% 1.51% -2% First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4286 1.47% 3.11% 1.72% -1% Philam Bond Fund, Inc. -a 4.449 0.17% 4% 1.77% -4% Philam Managed Income Fund, Inc. -a,6 1.3173 4.01% 4.21% 2.67% -0.3% Philequity Peso Bond Fund, Inc. -a 3.9552 3.24% 4.19% 2.45% -1.15% Soldivo Bond Fund, Inc. -a 1.0268 2.85% 4.24% 1.83% -1.46% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.1753 2.72% 4.67% 2.7% -0.96% Sun Life Prosperity GS Fund, Inc. -a 1.7322 1.23% 3.94% 2.01% -1.3% Primarily invested in foreign currency securities ALFM Dollar Bond Fund, Inc. -a $483.22 3.46% 2.95% 2.28% -0.13% ALFM Euro Bond Fund, Inc. -a Є219.82 2.76% 1% 1.19% 0.29% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.177 0.78% 1.74% 1.08% -8.08% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0259 0.39% 1.46% 0.95% -2.63% PAMI Global Bond Fund, Inc -b $1.0528 0.37% 0.32% -0.65% -3.65% Philam Dollar Bond Fund, Inc. -a $2.4794 4.47% 4.27% 2.03% -2.22% Philequity Dollar Income Fund Inc. -a $0.0626194 5.43% 3.36% 2.19% 0.48% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.1373 -0.4% 2.24% 0.87% -2.68% Money Market Funds Primarily invested in Peso securities ALFM Money Market Fund, Inc. -a 129.93 2.19% 3.16% 2.52% 0.09% First Metro Save and Learn Money Market Fund, Inc. -a 1.0503 1.42% n.a. n.a. 0.21% Sun Life Prosperity Money Market Fund, Inc. -a 1.3017 2.02% 2.89% 2.58% 0.39% Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0556 1.45% 1.73% n.a. 0.3% Feeder Funds Primarily invested in Peso securities Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a,d,7 1.234 n.a. n.a. n.a. 9.24% Primarily invested in foreign currency securities ALFM Global Multi-Asset Income Fund Inc. -b,d,2 $1 11.11% n.a. n.a. 2.04% 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."
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Tenders for ₧25B T-Bills oversubscribed 3 times
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HE Bureau of the Treasury raised P25 billion on its auction of Treasury Bills (T-Bills) on Monday as rates ended up mixed. Rates for 91-day and 182-day Tbills rose while the average rate for the 364-day T-bills fell. The auction committee made the full award as the tenors attracted tenders amounting to P71.7 billion, almost thrice the P25-billion offering. National Treasurer Rosalia V. De Leon explained that the rates of 91day and 182-day T-bills picked up due to “more demand on short end.” De Leon also said they opened the tap facility for additional P5-billion offering for the 364-day T-bills. The average rate of the 91-day Tbills inched up 1.349 percent or 2.4 basis points (bps) from 1.325 percent in the previous auction. Tenders for the security hit P14.85 billion, nearly thrice the offer. For the 182-day T-bills, the average rate inched up to 1.713 percent, rising by 1.8 bps compared to 1.695 percent in the previous auction. The tenor attracted P21.6 billion in total bids, more than twice the P8-billion offering. Lastly, the 364-day T-bills’ average rate settled at 1.884 percent, falling by 1.9 bps from previous auction’s 1.9 percent. Bids reached P35.2 billion, nearly thrice the P12billion offering. In a bid to take advantage of good
liquidity conditions, the government has also programmed to borrow a total of P170 billion in April, higher than the P160-billion it programmed in March. The national government’s outstanding debt as of end-February this year soared to a new record high of P10.406 trillion as the government continued to borrow more money for its pandemic response. According to nongovernment group Freedom from Debt Coalition (FDC), the government plans to borrow another P3 trillion for 2021. FDC President Rene E. Ofreneo said the country’s debt-to-GDP (gross domestic product) ratio reversed from a pre-Covid of 39.6 percent to a 14-year high of 54.5 percent in 2020. Ofreneo and other civil society leaders cautioned that a “debt bomb” can explode “and transform the present recession-depression into a fullblown economic catastrophe.” They called for a “debt relief or the suspension of debt payments during this time of the pandemic.” The FDC, in particular, is pushing for the re-audit and cancellation of 21 “odious” debts, already identified in Congressional committee hearings a number of years back, “to free up funds that can be used for immediate economic relief for the people and government’s Covid response.”
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T has been more than a year since the Covid-19 pandemic has hit us hard. Almost everyone was caught flat footed and underwent difficulty with adapting. One of the industries heavily affected by the ongoing pandemic is the travel and tourism industry. Both local and international tourism has been severely restricted in order to control the spread of the virus. For instance, foreigners could no longer visit our well-known islands to enjoy our pristine shores. Thus, with less foot traffic coming from lack of foreign and local visitors, other businesses that rely on that same foot traffic are also negatively affected: the establishments where tourists sleep in; the small but quaint restaurants where they dine in and celebrate life; the pasalubong center for their loved ones back at home; and the tour guides as well as diving instructors who help them unlock new skills and achievements. Reflecting back prior to these difficult times, I can say with certainty that we all miss the sense of thrill and adventure brought about by travelling. This activity has been one of the expenses we save up for on a regular basis. For most, it would be our reward after a long period of work. For some, travel is a necessity because we visit our relatives in the province or in other countries. For all of us, travel is time (and money) well spent with loved ones. As a matter of cash flow, travel is considered an expense. Money goes out instead of coming in. While traveling is indeed an enjoyable activity, there are many things you can do to maximize your fuel or airfare ticket fare, or even recoup them almost entirely. Here are some tips which can help improve your cash flow from traveling, either directly or indirectly: PasaBuy. Do people you know in Metro Manila miss the original buko pie from Tagaytay? And coincidentally you live in Tagaytay and have plans to go to Metro Manila for essential work? For a small convenience fee, you can gather up pre-orders from your local buko pie store and deliver them to your customers in the Metro. Not only do you help local businesses dependent on tourism survive, you also get to satisfy the cravings of people who cannot go outside their homes. As fair compensation for your service, income comes in your direction. Food Tour Groups. In the days before the pandemic, people travel not just to enjoy the scenery. They also enjoy that country’s food and culture. If you like sharing your experiences with other people, you could organize a tour group. To compensate you for your efforts and travel experience, the income you get
₧218.05B pumped into govt coffers via fuel-marking tack
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Raymond Anthony Quisumbing
personal finance from organizing might be enough to reduce the cost you spent on airfare and lodging. Not only that, you also get to build new networks and friendships. Scouting for Business Leads. If you plan to have a business in the future and are looking for unique concepts, then traveling outside the country (under normal circumstances) would be a great idea to look for possible franchisors or product ideas. Without #travelgoals, we would not be enjoying the following food right now: ramen, samgyupsal, pizza, kimchi, French macarons and so much more. Pleasure after Business. Are your customers getting bored with your existing product line of tires or toilets? Going abroad to international expositions helps you connect with the latest suppliers from all over the world. Just be sure to bring a lot of calling cards and spend time getting to know each and every supplier that interests you. Who knows, that new product you import might become your bestseller in the years to come. After your business trip concludes, spend a few more days enjoying the area before heading back home. Expanding your Knowledge. Whenever you go to a new place, enjoy not just the food, scenery and culture. Try to look at things from an entrepreneur’s point of view. What are the buying behaviors of the people there? What products or services do the residents patronize and why? Are the products or services something that can be replicated or adapted in your own area? That small idea in your mind right now could one day be one of the biggest franchises in the country. These are just some of the ideas to look forward to once we all overcome this pandemic together. To sum it up, to save on traveling costs, you should think not just of yourself but how to be of service to others, who do not have the luxury to travel. For now, to explore the world and keep safe at the same time, we could always watch travel documentaries online in the safety of our homes and with the people that matter the most, our families.
Raymond Anthony Quisumbing is a Registered Financial Planner of RFP Philippines. Follow him at twitter at @OhMyFinancePH. To learn more about personal-financial planning, attend the 89th RFP program this May 2021. To inquire, e-mail info@ rfp.ph or text at 0917-6248110.
By Bernadette D. Nicolas
@BNicolasBM
HE government has so far collected P218.05 billion (about $4.51 billion at current exchange rates) in duties and taxes from the implementation of its fuel-marking program for nearly two years.
Of the total duties and taxes collected from September 2019 to April 15, the bulk or P190.18 billion was collected by the Bureau of Customs while the remaining 27.87 billion came from the Bureau of Internal Revenue. A document from the Department of Finance showed that during the period, 22.4 billion liters of fuel were marked by the government.
Most of the fuel marked was diesel, cornering 60.73 percent or 13.6 billion liters followed by gasoline with 38.74 percent or 8.68 billion liters and kerosene with 0.54 percent or 120.02 million liters. By region, Luzon has the lion’s share of fuel marked with 73.68 percent or 16.5 billion liters of fuel. Next is Mindanao with 21.08 percent or 4.72 billion liters and the
Visayas with 5.24 percent or 1.17 billion liters. The DOF said 23 companies participated in the fuel marking program. Leading the list of companies that had their fuel marked was Petron Corp. with a 22.47-percent share in the total volume of marked fuel or five billion liters. Following Petron are the following firms: Pilipinas Shell Petroleum Corp. (19.63 percent or 4.397 billion liters); Unioil Resources & Holdings Co. Inc. (10.44 percent or 2.34 billion liters); Seaoil Philippines Inc. (8.26 percent or 1.85 billion liters); and, Phoenix Petroleum Philippines Inc. (7.68 percent or 1.72 billion liters). In February, House Ways and Means Committee Chairman Albay Rep. Joey Salceda revealed that the government lost P357 billion from 2010 to 2019 due to fuel smuggling. While Salceda said while fuel marking helped lower smuggling,
foregone revenues are still rising because the Tax Reform for Acceleration and Inclusion law raised taxes on fuel products in 2018. Fuel marking makes use of a unique chemical marker that can be embedded at a molecular level in petroleum products—gasoline, diesel, and kerosene—thereby enabling authorities to test, identify and distinguish petroleum products with paid excise taxes. Under Republic Act 10963 (or TRAIN law), petroleum products that are refined, manufactured, or imported to the Philippines such as, but not limited to, unleaded premium gasoline, kerosene and diesel, shall be marked by an official marking agent after payment of taxes and duties. The fuel-marking program was launched with the aim of halting illegal importation, manufacturing, and other fraudulent activities relating to the use and sale of petroleum products in the country.
House OKs bill to build new retirement, pension system By Jovee Marie N. dela Cruz @joveemarie
Bernadette D. Nicolas
Turning your travel expense into an investment
Tuesday, April 20, 2021 B3
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HE House Committee on Banks and Financial Intermediaries has recently approved a proposed bill seeking to establish a new private retirement and pension system. Quirino Rep. Junie E. Cua, the panel chairman, said the committee passed the unnumbered substitute bill to House Bill 8938 (Capital Market Development Act) subject to style and amendments last Thursday. The measure focuses on establishing an Employee Pension and Retirement Income Account, which is envisioned to serve as an additional long-term savings aside from the Social Security System and Government Service Insurance System pensions. The additional savings to be generated from the EPRI accounts would then help finance government projects and services. The substitute measure now also
includes the concept of a “micro-enterprise,” which consists of businesses engaged in industry and in agri-business. Under the bill, each business should have total assets of up to P3 million and employing not more than 10 employees. The panel unanimously also agreed to revise the inclusion of the “micro-enterprise” to be consistent with the Magna Carta of the micro, small and medium enterprises. The bill also introduced the creation of a Capital Market Development Council (CMDC). Cua said the inclusion of the CMDC would institutionalize and capacitate the council, which now only exists under a memorandum of agreement between government and the private sector. Moreover, Cua said he filed the bill to provide retirement and pension system that is fully-funded, portable, more “actuarially fair” and stable “that will enhance the current pension, at the same time, promoting and encouraging national savings and prudential investments on the part of employees.”
He added he also filed the bill as the current private pension system has not further developed. “It has its own problems. Foremost of which, is the structure of the law and its implementing regulations. Republic Act 7641 doesn’t require pensions to be prefunded, hence, pensions are paid out of pocket rather than built-up over the duration of employment, thus, no pool of investible assets is created,” Cua said in his explanatory note. He added that the pension benefits do not vest until they are 60 years old and on the last day of their employment. “Because pension benefits only vest at their final place of employment, pensions are not portable and the employee is at risk in the event of the employer’s bankruptcy,” the lawmaker said. “In addition, many are working in the informal sector which makes it difficult to enforce pension requirements under the current law.” Earlier, CMDC Co-chairman Benedicta Du-Baladad said the Millennials
and Generation-Z are expected to benefit from this proposal. Citing a “study,” Du-Baladad said people in these population segments jump from one employer to another 12 times during their lifetime of 40 years of working. “The average of changing their employers is actually 12 times,” she said. “If we follow the current law now nobody can get a retirement pay.” “The proposal meant to make pension portable and fully funded and adequate so when employees retire they have will have sufficient funds to keep them afloat in their daily lives,” she added. Under the bill, Du-Baladad said the pension system starts at the time they enter the work force. “Currently, it is given when you are only about to retire and stay with your employer for about last five years and you are at least 60 years old,” she said. “There is also no requirement for funding so it is a pay as you go and there are so many risks with that.”
Security Bank, MUFG deal ‘credit positive’—Moody’s By Bianca Cuaresma @BcuaresmaBM
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NTERNATIONAL credit watcher Moody’s Investors service said the recent cash management deal between Security Bank Corp. and MUFG Bank Ltd. (MUFG) is credit positive for Security Bank. Earlier this month, Security Bank announced it has signed a deal with MUFG to expand the international lender’s access to the local bank’s cash management system. The agreement will open Security Bank’s cash management program, DigitBanker, to MUFG. This will, in turn, provide MUFG’s clients with products and services that are suited to the domestic front. It also intends to allow MUFG’s clients to extend their collection network in different parts of the country through the DigiBanker platform. According to Moody’s, the expanded partnership between the two banks is expected to “encourage increased business flow and help Security Bank broaden its corporate client base to MUFG’s customers while credit demand in the Philippines is subdued.” Moody’s added that the cash management initiative with MUFG will increase Security Bank’s low-cost corporate deposits, which will reduce its funding costs. Aside from that, the credit watcher also said the local bank stands to benefit from fee income through ancillary services such as overseas transfers and settlements. Just last week, Moody’s announced that they have reverted their assigned
outlook to the Philippine banking sector back to “stable” from “negative.” In an outlook note, Moody’s said the main basis of their action reflects their expectations that a “mild economic recovery” will support the operating environment for Philippine banks. The ratings agency, however, warned that asset risks remain high because of a “prolonged curtailment” of business activity, high unemployment rate and weak consumer sentiment. A Moody’s rating outlook is an opinion regarding the likely direction of a rating over the medium term. Having a negative outlook means that the rated system will likely face a downgrade, while a stable outlook means that the current rating will hold barring unforeseen circumstances.
PDS Awards
THE Security Bank group was recognized by the country’s fixed income exchange, the Philippine Dealing System Group, in the recently concluded PDS Annual Awards held last March 26. The bank bagged the “Top FixedIncome Cash Settlement Bank” award for generating the highest volume for the year, as measured by the total number of fixed-income transactions settled. Meanwhile, the bank’s investment house SB Capital Investment Corp. was recognized among the “Top 5 Corporate Issue Managers/Arrangers” in 2020. “Public interest in fixed income as a form of investment during unprecedented times has grown exponentially, with more clients looking to safe-haven investments as a form of insurance in these
tough times. This recognition is a testament to our commitment to providing a better banking experience to our clients,” SB Capital President Virgilio O. Chua was
quoted in a statement as saying. “These accolades are important as it indicates that we are doing our jobs right and that we are serving our customers well.”
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Tuesday, April 20, 2021 • Editor: Gerard S. Ramos
Art
BusinessMirror
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Today’s Horoscope By Eugenia Last
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CELEBRITIES BORN ON THIS DAY: Joey Lawrence, 45; Carmen Electra, 49; Shemar Moore, 51; Jessica Lange, 72. Happy Birthday: Address sensitive issues with unfiltered truth and move on to more productive tasks. If you spend too much time pondering over what to do, you will miss out on some valuable opportunities that someone offers. Domestic matters, once resolved, will give you the freedom to adopt the lifestyle of choice. Make peace of mind a priority. Your numbers are 7, 16, 24, 29, 34, 38, 44.
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ARIES (March 21-April 19): Be bold, share your thoughts and feelings, and bring about the changes that will make it easier for you to follow your heart. An adjustment at home will encourage you to be more productive. An educational pursuit will pay off. HHHHH
Entering the Metaverse: Art Fair PHL 2021 to highlight digital art, NFTs
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NNUAL contemporary art event Art Fair Philippines is going virtual for the first time when it opens next month, featuring talks and programs designed to take its audience up to speed with the surging popularity of digital art in the global art scene. Art Fair Philippines 2021 will present programs for the audience to understand the basics of cryptocurrency and its relevance to the art industry. The event will also introduce platforms for fairgoers to connect with artists and gallerists who are part of crypto art community. Art Fair Philippines 2021 will run from May 6 to 15 at www.artfairphilippines.com. Access to the fair is free of charge. “We feel that we should show art that suits [the online] platform,” said Trickie Lopa, one of the cofounders of Art Fair Philippines alongside Lisa Periquet and Dindin Araneta, during the event’s recent online media launch. “When we were debating whether or not we should push through with an online fair this year, we knew that we had to do more than simply put up a site for visitors to click on images of art for sale,” Lopa added. “We had to conceptualize an event that will keep to our mission of widening the audience for the visual arts, and of expanding the exposure of the fair visitors to various forms of contemporary art. So, this year’s fair focuses on digital arts.” In a story published last month by Time magazine, it was said that NFTs, or nonfungible tokens, are having their “big-bang moment.” NFTs are basically digital currencies tied to assets that can be bought, sold and traded. The Time story cited figures from a
market tracker web site which showed that collectors and speculators have spent more than $200 million on an array of NFT-based artwork, memes and GIFs between February and March of this year alone. Not included in that staggering amount is the record-setting sale of an NFT by digital artist Mike Winkelmann, known as Beeple. Until October, the most Beeple had ever sold a print for was $100. But on March 11, an NFT of his work sold for $69 million at British auction house Christie’s. It was the thirdhighest price ever fetched by any currently living artist, after Jeff Koons and David Hockney. “I first came across NFTs and all these digital artworks in June,” said Lopa. “At the height of our lockdown, not doing anything, I attended a conference about NFTs, and I thought, it’s something that the Pinoy audience and the Pinoy artists could really get into. We will make you as familiar with blockchain as possible.” Art Fair Philippines will be presenting “Welcome to the Metaverse, The NFT 101 Showcase,” under the ArtFairPH/Projects section. Presented by the Bank of the Philippine Islands and cocurated with Cebu-based multidisciplinary think tank and studio Tropical Futures Institute and Filipino digital art space Narra Art Gallery, the showcase is designed to educate and empower creatives, collectors and the general public about the crypto art space globally, as well as to highlight the country’s own strong vibrant crypto community. “This is what we strive to do each year: to present something new,” said Periquet. “We emphasize to the curators that the audience are not experts, that they’re just being introduced to this. So, it’s all part of the educational thrust of the fair.” Art Fair Philippines will also debut digital artworks specially commissioned for the ArtFairPH/ Film section, presented by Globe Platinum. This section of the fair is developed in partnership with Daata, a digital platform that commissions original digital artworks by established and emerging artists, allowing viewers to stream or download high-quality digital artworks on any device. Art Fair Philippines and Daata will showcase digital artworks by new media and contemporary artists Jeremy Couillard and
Petra Cortright, and Keiken, a collaborative practice co-founded by artists Tanya Cruz, Hana Omori, and Isabel Ramos. Rounding out this year’s digital art focus is a special presentation of the six winners of the Julius Baer Next Generation Art Prize. The brand recently launched the inaugural competition for Southeast Asian artists, with a focus on the digital image, recognizing it as a medium of the future. Open to Southeast Asian artists from 18 to 40 years old, submissions were accepted from November 5, 2020, to February 28, 2021. The prize rewards the top 3 winners in two categories: Still Image (e.g. digital photography) and Moving Image (e.g. video art), with a total of $60,000 in cash prizes. Are NFTs the future of contemporary art? WITH such prominent emphasis on NFTs in this year’s fair, the organizers shared their thoughts on where it figures in the future of the art industry. “I don’t believe it’s the only future for art,” Periquet said. “It is there in the future but, of course, alongside the more seemingly conventional and traditional systems that we have. It’s just very interesting to know about it because they have become really a disruptor in the art world so everybody’s interested. And it’s interesting to see if that disruption will have a long-lasting effect.” “I think it is one of the futures,” Araneta added. “It’s definitely here to stay because of the need. It is something that came about because of the pandemic, so I think it’s fulfilled the need for a lot of people in terms of how art responds to the times.” ‘Artists still want to show their work’ ART Fair Philippines 2021 online follows the 2020 and 2021 editions of Art of the Park, another art event that Lopa, Periquet, and Araneta co-founded and turned into a virtual gathering. The online edition of Art in the Park 2020 proved to be such a success that it yielded more than double of the event’s usual traffic. “We’ve proven in Art in the Park that we can still
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TAURUS (April 20-May 20): Listen carefully before responding. Giving others the chance to explain will make it easier for you to keep the peace. Take the high road, and you’ll have no regrets. Personal growth will lead to better decisions and a brighter future. HH
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GEMINI (May 21-June 20): Your curiosity will get you into trouble if you don’t abide by the rules and regulations. Think twice before you get involved in something questionable. An impulsive move will limit you. HHHH
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CANCER (June 21-July 22): Money will be tight if you haven’t saved for an unexpected expense. Emotional spending, risky investments and generosity will lead to stress. Don’t feel you have to buy love or pay for things for others. Keep life simple and moderate, and live within your means. HHH
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LEO (July 23-Aug. 22): Mixing business with pleasure will put you in a vulnerable position. Don’t share personal information or give anyone insight into the way you feel. Time is on your side; for now, gather information. HHH
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VIRGO (Aug. 23-Sept. 22): Learn from the changes you’ve experienced, then proceed with confidence. Knowing what you want will make it easier for you to put whatever stands in your way aside so that you can excel. HHHHH
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LIBRA (Sept. 23-Oct. 22): Take on a challenge, but don’t make cash donations or place a bet. Investments and joint ventures will not turn out as anticipated. Focus on self-improvement, fitness, knowledge and keeping up with all the latest technology. HHHH
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SCORPIO (Oct. 23-Nov. 21): You’ll have trouble making up your mind. When in doubt, go back to the drawing board and do your research. Look for obscure angles that will help you give something you want to pursue a fresh look and a new beginning. HH
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SAGITTARIUS (Nov. 22-Dec. 21): Take the high road, do what’s right and steer clear of joint ventures. Verify the information you receive before passing it along. Don’t share your feelings prematurely; find out where you stand first. HHHHH
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CAPRICORN (Dec. 22-Jan. 19): Take care of personal and family matters yourself. Don’t let anyone meddle or take advantage of your vulnerability. Personal improvements will lift your spirits and help you make a long-overdue lifestyle change. Romance is in the stars. HHH
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AQUARIUS (Jan. 20-Feb. 18): Rethink your plans. Look for flaws; rely on the experience you have to gain insight into what’s best for you. Don’t give in to someone playing mind games. Don’t let an unexpected move someone makes cause uncertainty. HHH
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PISCES (Feb. 19-March 20): Do the best job possible, apply for a new position and update your skills and qualifications. Consider what you can do, and make a positive attempt to reach your goal. HHH Birthday Baby: You are impressionable, questioning and courageous. You are innovative and energetic.
‘substraction’ by blake stonecker The Universal Crossword/Edited by David Steinberg
ACROSS 1 Float through the air 5 German lament 8 Rude things to make 13 Red Sox Hall of Famer Martinez 14 Pi follower 15 Subside 16 Stereotypical dorm meal 17 Hero’s journey? 19 Stylish Saab 20 Repurposes, as food scraps 21 Club light 23 Grp. that clashed with Israel 24 Crunch targets 27 Original sin’s aftermath 29 Military snitch? 32 Yiddish laments 33 Cut calories 35 Famed fabulist 36 Passengers per car, e.g.? 39 Cosmetician Lauder 42 Drinks that may be iced 43 Ancestry test molecule 46 Adore weed? 49 Trees for giraffes
1 Anatomy experts, briefly 5 52 Get first place 54 Drum kit parts struck with the feet 55 How dental procedures should be 59 Indy 500 champion Luyendyk 60 Grouchy splinter group? 62 Opposite of subsequent 63 No later than 64 Jazmine Sullivan’s record label 65 “Secret” or “free” follower 66 Out of style 67 Tofu base 68 Room with toys everywhere, say DOWN 1 Well-to-do 2 Looks up to 3 With 50-Down, pro bono...or like each starred answer, based on its deleted word? 4 Unit of bricks? 5 2012 movie set in Iran 6 Bite like an alligator 7 Big to-do 8 Helpful web site pages, briefly 9 Share a boundary with
0 ___ Palace (Las Vegas landmark) 1 11 GRE org. 12 Thicken, as custard 13 “Abraca-dabra!” 18 Knocker’s place 20 Salsa legend Cruz 22 Image problem that Photoshop can’t fix, informally? 25 Chinese steamed bun 26 Race car driver’s additive 28 Luau loop 30 People of the African Great Lakes 31 So far 34 Network for Claws and Snow-piercer 36 Golf ball support 37 Caribbean ___ 38 RPM gauges 39 Common tree in Central Park 40 Lawn repair option 41 Ads that may last 30 seconds 43 Targets for nosy siblings 44 States or countries 45 State as fact 47 Dominates, in slang 48 Some bathroom contractors
50 See 3-Down 53 Colorful wafer maker 56 Yard sale caveat 57 Place to get marooned 58 Don’t go 60 Cone alternative 61 Messenger’s letters? 62 The Office character who marries Jim Solution to Friday’s puzzle:
Show BusinessMirror
www.businessmirror.com.ph
Editor: Gerard S. Ramos
• Tuesday, April 20, 2021
B5
Marina Benipayo has many reasons to be happy MARINA BENIPAYO with husband Richard Cepeda
Viola Davis is named Hasty Pudding Woman of the Year
CAMBRIDGE, Massachusetts—Viola Davis was named Woman of the Year on Friday by Harvard University’s Hasty Pudding Theatricals. “Viola has inspired our company with her incredible grit and determination, and we cannot wait to celebrate her successes, strong character and wonderful talent,” said Jessica Moore, the group’s president, in a statement. Davis is scheduled to be honored April 22 in an online ceremony that will include a roast, a discussion and a speech from Davis as she is presented with her ceremonial pudding pot. Because of the pandemic, the event will not include its traditional parade through the streets of Cambridge. “We’re very excited to honor Viola Davis as our 71st Woman of the Year because of her immense impact in Hollywood, especially in such a historic and difficult year for the arts,” said Natalie Needle, the event coordinator and producer. In March, Davis became the Oscars’ most nominated Black female actor ever when she landed her fourth nomination, this one for her lead role in Ma Rainey’s Black Bottom. The film, based on an August Wilson play, is set around a recording session in 1920s Chicago as a blues band awaits the arrival of Ma Rainey. The movie also includes the final performance from actor Chadwick Boseman, who died last year of cancer. Davis won an Academy Award for her appearance in the 2016 film Fences, a role she originated in a 2001 Broadway revival that landed her a Tony Award. The Oscar win made her the first Black woman to win an Oscar, Emmy and Tony for acting. She won her Emmy in 2015 for her role in How To Get Away With Murder, and she has another Tony win for her role in King Hedley II. The Hasty Pudding award has been handed out annually since 1951 to people who have made lasting and impressive contributions to the world of entertainment. Previous Hasty Pudding winners include Meryl Streep, Katharine Hepburn and Helen Mirren. Elizabeth Banks was last year’s recipient. AP
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CONIC model, beauty queen and actress Marina Benipayo wears many hats these days. “It is important that I keep myself busy during this pandemic, when no clear solutions have been laid out yet to ensure our protection, safety and general well-being,” she opened up, adding, “Aside from staying healthy, both physically and mentally, I think we all should focus on what activities can make us productive, and keep us away from the stress and anxiety brought about by this unexpected period in our lives.” Since there are no big fashion show events where Benipayo is always a preferred “finale” model, she accepts invitations to appear in online shows and interviews especially those hosted by her peers in the fashion and beauty industry. “It’s also a way of sharing our opinions and points of view about many things and many issues that might be of help to the viewers of these shows. I particularly also learn a lot from the discussions with the other invited guests and resource persons,” she said. A former Binibining Pilipinas title holder, Benipayo shared that she is happy with the very good performances of Philippine representatives to international pageants recently. She believes that the our beauty queens will continue to do well in future pageants. “Very competitive ang Philippines when it comes to beauty pageants. Palaban talaga tayo!” Despite the current circumstances affecting the country and the rest of the world, Benipayo says she chooses to remain hopeful. “I was always taught to count my blessings. Of course, we have to be aware and alert always especially about protecting ourselves and our loved ones, but we have to learn to live with the ‘givens,’ be resourceful, and learn to move forward.” It’s a good thing that Benipayo has her partner Richard Cepeda who always stands by her. Their time-tested relationship has become stronger than
ever. “I am very blessed to have him in my life,“ she enthused. “He’s always got my back. He is my compass and my balance, my shield and my strength whenever my faith falters or when I feel weak.” Recently, the couple started selling Cepeda’s home-cooked adobo online, and it has been getting very good feedback. “We call it AdoboGOod [Richard’s real surname is Go], and we are so happy that orders continue to come in.” Another source of joy for Benipayo is her almost six-month-old grandson Jacob Apollo, the baby of Benipayo’s son Joshua. “He is my first apo and he is just so adorable. He is our source of
happiness. I love playing grandma to Jacob!” We are glad that Benipayo will soon be seen on television again. She plays the wife of Christopher de Leon in the second season of the GMA show I Can See You: The Lookout, which has just started airing this week in the network’s evening prime-time slot. The show also stars Adrian Alandy, Barbie Forteza and Paul Salas. Marina Benipayo is a woman of beauty, joy and resilience combined. “I am just thankful that I am given many opportunities to be busy, productive and happy. I am just grateful every day.” n
Entering the Metaverse: Art Fair PHL 2021 to highlight digital art, NFTs Continued from B4 enjoy and acquire art online,” Lopa said. “While nothing beats being in the Link [for Art Fair Philippines], interacting with everybody and seeing the pieces live, we try to do what’s best for what we’re all facing right now.” “We’ve tried very hard to make the access easy and simple. It’s not a very complicated web site, and I hope that comes through,” Periquet added. “Artists still want to show their works and people also want to buy works of art.” Aside from the focus on digital art, 43 exhibitors from the Philippines and abroad will showcase artworks through their online viewing rooms, which will include videos produced in collaboration with Globe Studios. There will also be a new section called ArtFairPH/Residencies, an artist residency program project in partnership with Bleeding Heart Rum Corp., the makers of Don Papa Rum. The program is open to all Filipino artists across all disciplines. Five artists selected based on their submitted portfolios will be paired with art spaces and galleries from different parts of the Philippines. The resulting artists’ projects will be presented at Art Fair Philippines 2022. Other programs for this year’s Art Fair Philippines are 10 Days of Art; a special exhibit for ArtFairPH/Photo, featuring Paris-based Filipino photographer Ding Panganiban and his ambrotype collodion process; and a healthy dose of ArtFairPH/Talks, Open Studios, and Online Tours. More information on the program and schedule of activities of Art Fair Philippines 2021 can be found at www.artfairphilippines.com, and on Instagram at @artfairph and Facebook at www. facebook.com/artfairph.
GMA raises bar with nearly 100 new, cutting-edge programs PHILIPPINE media giant GMA Network continues to set the benchmark for topnotch entertainment for Filipinos with its lineup of new programs in the coming months. Soon to dominate Philippine television is the breakthrough cultural drama series Legal Wives. Produced by the award-winning GMA Entertainment Group, this original series is headlined by Dennis Trillo as Ishmael, a Maranaw Muslim royalty who has three wives portrayed by Alice Dixson, Bianca Umali and Andrea Torres. Portraying an equally important role is internationally acclaimed actress Cherie Gil. Following the success of its first season last year, the one-of-a-kind drama series I Can See You returns for a second season with new and exciting stories: “On My Way To You” with Ruru Madrid and Shaira Diaz; “#Future” with Miguel Tanfelix, Gabby Eigenmann, Kyline Alcantara, and Aiko Melendez; and “The Lookout” with Barbie Forteza, Paul Salas, and Christopher de Leon. Also on schedule is the sweeping romance drama I Left My Heart in Sorsogon, starring Heart Evangelista-Escudero, Paolo Contis and Richard Yap. After their well-received pairing in I Can See You: Love on the Balcony, Alden Richards and Jasmine Curtis-Smith reunite in the drama series The World Between Us alongside Tom Rodriguez in his most challenging role yet. The soap revolves around a principled man who gets wronged by the people he considers as family, and how he goes through insurmountable odds just to carry the day. Jennylyn Mercado takes on the role of a woman who is stuck reliving the day of her boyfriend’s death over and over again via the out-of-the-box concept of Love. Die. Repeat. Meanwhile, Carla Abellana and Max Collins join forces in the
drama series To Have and To Hold, which tells the story of two women who will get caught up in a web of lies, betrayals and affairs. Heartful Café follows the life of a café owner and online romance novelist, Heart Fulgencio, and her journey towards finding her match. It stars Julie Anne San Jose, David Licauco and EA Guzman. Kick-starting the roster of GMA afternoon prime programs is the remake of legendary filmmaker Ishmael Bernal’s classic movie Nagbabagang Luha bannered by Glaiza de Castro, Rayver Cruz, Mike Tan, and Gina Alajar. The series also introduces Claire Castro. The well-loved tandem of Rita Daniela and Ken Chan returns to the small screen with Ang Dalawang Ikaw, which also features Ana Vicente. Viewers are also sure to get hooked on Las Hermanas starring Yasmien Kurdi, Thea Tolentino, Faith da Silva and Jason Abalos, with seasoned actor Albert Martinez who makes his GMA comeback via this afternoon series. A woman fights for justice and her chance for a new life against an antagonist who tries to get away with murder twice by using legal means in the riveting drama series Artikulo 247, headlined by Rhian Ramos, Mark Herras, Jackie Rice and Rocco Nacino. GMA’s high-rating afternoon series Prima Donnas is all set to air its second season after receiving favorable reviews from viewers during its initial run. The series stars Jillian Ward, Althea Ablan, and Sofia Pablo, together with seasoned actors Katrina Halili, Wendell Ramos, Chanda Romero, James Blanco, and Aiko Melendez. GMA gives viewers a treat with the highly anticipated live action adaptation of the hit Japanese anime series Voltes V: Legacy. The groundbreaking project stars Miguel Tanfelix as
Steve Armstrong, Ysabel Ortega as Jamie Robinson, Radson Flores as Mark Gordon, Matt Lozano as Big Bert, Raphael Landicho as Little John, along with Martin del Rosario as the Boazanian Prince Zardoz and Liezel Lopez as Zandra. GMA Public Affairs is also set to bring its biggest actionadventure series to date with Lolong. Bannered by Ruru Madrid, the series is inspired by the world’s largest crocodile in captivity of the same name. Joining Ruru in the series are Arra San Agustin and Shaira Diaz. GMA Heart of Asia brings the critically -acclaimed Korean drama The Penthouse soon on Philippine TV. Set around the luxury Penthouse Apartment with 100 floors, it tells the story of wealthy families who have grand ambitions and desires for their children and would do anything for them. Fans should also stay tuned for these other hit Asian dramas: Doctor John, Bad Genius The Series, The Gifted, The Sand Princess, and My Husband in Law. Meanwhile, the network reinforces its tradition of bringing all-out entertainment with two new comedy shows, namely Pa-Cute Ang Ina Ko and The Untold Story of Philip Tampipi. These are just some of the 100 shows that GMA will be releasing this year on its various channels. Moreover, sports fans and viewers will be thrilles to know that the network will air the Philippines’s first athletic league—the National Collegiate Athletic Association—on GTV, beginning with the GMA Synergy-produced primer Rise Up Stronger: The Road to NCAA Season 96, to be followed by the NCAA Season 96 Opening Ceremony TV Special and sporting events under Rise Up Stronger: NCAA Season 96. More information on GMA’s upcoming programs and offerings can be found on its various social-media accounts, YouTube accounts, or www.gmanetwork.com.
B6 Tuesday, April 20, 2021
PLDT is fastest broadband in 16 out of 17 PH Regions – Ookla
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LDT records the fastest average fixed download and upload speeds in 16 out of 17 key regions in the Philippines, based on the Ookla® Speedtest Intelligence data as of Q1 2021. According to the latest quarter of Ookla analysis, PLDT widens their lead of average download speed results in Metro Manila, Calabarzon, Central Luzon, Central Visayas, Northern Mindanao, Western Visayas, Davao Region, Cordillera Administrative Region, Cagayan Valley, Ilocos Region, Soccsksargen, Eastern Visayas, Zamboanga Peninsula, Caraga, MIMAROPA, and Autonomous Region in Muslim Mindanao (ARMM). “PLDT has been aggressively expanding our fiber network footprint nationwide, which has been key to the massive and consistent improvement of our internet speeds,” says Butch G. Jimenez, Senior Vice President and Head of PLDT Home Business. Ookla, the global leader in internet testing and analysis, assessed the best network speeds attained across a given network, accounting for tests that are taken on various Speedtest applications from different devices connected to a fixed network. Undisputed Telco Leader PLDT continues to set the standard for fast internet speeds in the Philippines with its repeat wins as the fastest fixed network at the Ookla Speedtest Awards by recording the highest Speed Score™, top download
COVID AID . World Medical Relief Asia (WRMA) “ambassador of health” Dr. Irineo “Bong” Alvaro Jr. (2nd from right) hands over to Evelyn T. Gamboa, chief administrative officer of the Jose B. Lingad Memorial General Hospital in Pampanga, N95 masks as part of medical supplies donated to the government hospital. The donations given on Thursday April 15, 2021, will benefit Covid-19 patients, especially the poor. With Alvaro are (from left) WMRA Communications Director Noel Tulabut, WMRA volunteers Rudy Mallari and Rev. Father Paul Silva. (Photo courtesy of WMRA)
Crayon and PS-DBM offer Microsoft Licenses and Services for academic institutions and government agencies
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MR. BUTCH G. Jimenez, Senior Vice President and Head of PLDT Home Business and upload speeds compared to other telcos in the country. In 2020, PLDT achieved the highest Speed Score of 24.79 and 27.28 in the 1st and 2nd half of the year. PLDT has the most powerful and fastest fiber-to-thehome network that can deliver up to 1000 Mbps symmetrical speeds. Jimenez shares, “We’ve introduced faster plans bundled with the latest WiFi 6 and Mesh solutions so our customers can maximize the speeds that our network can deliver.” With the widest
fiber network footprint in the Philippines at 478,000 kilometer lines for the first quarter of 2021, PLDT continues to expand and now has 3.9 Million broadband subscribers. “This pandemic has made the Internet an essential for millions of Filipino families. PLDT Home remains committed to power their needs for work, study, family entertainment, and business with the fastest network and the latest digital solutions,” concluded Jimenez.
TikTok creator cum delivery rider Yukii Artana is real-life modern day hero
ng mga sasakyan minsan umuulan pa, at isa sa mga kinakatakutan namin na minsan na may mga client kami na hindi nakuha yung pag pagkain dahil sa kulang sa inpormasyon, like wrong pin location, dahil pera talaga namin pinang-aabono namin,” he says. The health risk is another major concern for Yukii. Knowing this, he always makes sure to follow proper safety protocols. Yukii says, “Sa totoo lang po nakatakot talaga ang virus dahil hindi natin sya nakikita, kaya double ingat din ako sa sarili ko, at tamang suot lang ng facemask, palakasin lang resistensya, at sumunod lamang sa tamang protocols.”
Safety should be a priority, both in the real world and online
WHILE our present situation requires us to take measures to remain safe and healthy, TikTok also takes steps towards fortifying its safety features, for the wellbeing of all users on the app. These features include:
YUKI Artana
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HESE days, many depend on delivery services for essential goods like groceries, medicine and food. Thanks to delivery riders, countless families are able to stay safe and protected indoors. 27-year old Julio “Yukii” Artana from Imus, Cavite is one of those delivery riders. Along with others like him, Yukii braves the streets every day to bring food to people’s homes. Yukii is a TikTok creator, entertaining his followers with dance videos, which he frequently creates while wearing his delivery uniform. He first joined TikTok because it was popular during lockdown. Little did he know that, a year later, he would have 132k followers on the app, and that his content would gain millions of views. Check out Yukii's best TikTok videos,
including one that has already garnered 4.6M views! Visit: https://www.tiktok. com/@yukii_artana/video. Having worked as a food delivery rider for two years, Yukii feels a sense of responsibility and pride in his job, and in his ability to provide this service to many Filipinos. He shares, “Masaya ako dahil nakakapaghatid ako ng tamang serbisyo sa customers ko, at nakakatulong din po kami upang mabawasan ang paglabas ng mga tao.” The job isn’t always easy, and Yukii says that some days aren’t as productive and profitable as others as far as bookings are concerned. Apart from this, he also faces many other challenges as a rider. “Bukod po dito sa pandemic, may pagsubok din kami dapat kakaharapin kagaya po ng panahon ngayon. Sobrang init din po sa labas, samahan pa ng usok
Family Pairing, which allows parents to turn certain app features on and off remotely. Screen Time Management, where parents can limit their child’s daily screen time to 40, 60, 90, or 120 minutes on the app. Restricted viewing mode, which limits the appearance of content that may be inappropriate. Preventing downloads of videos created by users under 16 years old Preventing the use of videos created by users below 16 for the Duet and Stitch features, which gives other users the ability to clip and integrate scenes from one user’s video into their own Restricting the use of videos for Duet and Stitch to friends only for users aged 16 to 18 Restricting of comments on videos created by users aged 13 to 15 to friends only Limiting livestream hosting access to users aged 16 and above Limiting buying, sending, and receiving of virtual gifts to users aged 18 and above Join the creative community on TikTok today! Download the app on your iOS and Android devices to get started.
RAYON Software Experts Philippines Inc., Microsoft’s top and trusted partner, teamed up with the Philippine government through Procurement Service –Department of Budget and Management (PS-DBM) in catering Microsoft licenses and support services for academic Institutions and government agencies in the country. Its expertise in navigating a secured, more optimized workplace by providing a cloud-first strategy and optimized licensing cost, makes Crayon the sole Microsoft licensing and support services provider through PS-DBM in the country and one of Microsoft’s best consulting partners in letting customers learn and understand business solutions. ”PSDBM has concluded this partnership agreement with Crayon that guarantees the most advantageous software and support services costs for the government of up to eight per cent savings from previous agreement. This also ensures that agencies will be getting the latest version and genuine Microsoft licenses with the right level of post-sales support and services. We strive to further extend these benefits to other agencies from different geo-locations in collaboration with and as part of the commitment of Crayon Team and Microsoft” PS-DBM Usec. Christopher Lloyd Lao said. Repetitive multi-agency bidding is eliminated. Crayon customers can buy Microsoft licenses and services at the lowest price through PS-DBM. This partnership caters to
customers' information technology needs. Besides speed and convenience, this initiative aims to promote good governance as the procurement process adheres to principles of transparency, accountability and efficiency. “This agreement with the Philippine government further strengthens our position in the country as the leading provider of Microsoft software, solution and services. Crayon has a unique plan to use this agreement as our platform to enable and empower each government agencies through the use of Microsoft technology. With our expertise in software and cloud economics, we are ambitioning to bring the benefits of this partnership to the next level of technology modernization and digital transformation,” says Deon Del Mundo, general manager of Crayon Software Experts Philippines Inc. Microsoft Software Licenses and Services helps customers leverage the power of cloud technology in adapting to modern ways of working and collaboration for competitive, efficient government services. Crayon Software Experts Philippines Inc. has a longstanding relationship with Microsoft globally. Together with PS-DBM, IT segments in education and the public sector will have the right tools and platforms for effective software asset management. For inquiries, email inquiry.ph@crayon.com.
NEW COVID-19 VACCINE STORAGE FACILITY ENERGIZED BY MERALCO. Meralco energizes a new COVID-19 vaccine storage facility located at Flamingo Street, New Marikina Subdivision, Barangay Sta. Elena, Marikina City. The project involves the installation of a 15-meter and a tandem 13.5-meter concrete poles, three (3) 167-kVA distribution transformers, service drop, and metering facility, and extension of three (3) spans of covered overhead conductor. This new, privately-owned facility will be used to store the AstraZeneca, Sinovac, Moderna and Pfizer COVID-19 vaccines purchased by the government. In line with the company’s thrust to assist the government and the private sector in its continued fight against COVID-19 pandemic, vital COVID-19 facilities such as these located in the Meralco franchise area are given the highest priority in terms of providing safe, adequate, and reliable supply of electricity. To date, more than 95 vital COVID-19 facilities have already been energized by Meralco and these include government offices, hospitals, testing laboratories, quarantine and vaccination centers, and vaccine storage facilities.
Honor graduates may apply for eligibility
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HE Civil Service Commission (CSC) encourages honor graduates to apply for eligibility, which they may use to vie for career positions in the government. The CSC grants the Honor Graduate Eligibility (HGE) to graduates of private higher education institutions in the Philippines from school year 19721973 and thereafter, with baccalaureate/bachelor’s degree recognized by the Commission on Higher Education, or state/local college or university with baccalaureate/bachelor’s degree included in its charter, or baccalaureate/bachelor’s degree duly approved by its Board of Trustees/Board of Regents. On 17 December 2013, the Commission issued CSC Resolution No. 1302714 to include honor graduates from foreign schools in the grant of eligibility. Honor graduates from a reputable foreign school– as verified by the Department of Foreign Affairs through the Philippine Foreign Service Posts, or as certified by a foreign government in compliance with the apostille requirements under CSC Resolution No. 2000349 dated 11 February 2020–may apply for the Foreign School Honor Graduate Eligibility (FSHGE), provided that they are Filipino citizens. The HGE and FSHGE are second level eligibilities appropriate for first and second level positions in the government that do not involve practice of profession and are not covered by bar, board, or other special laws. Applications for HGE may be submitted to the CSC Regional Office (CSC RO) having jurisdiction over the area where the applicant finished his/her degree, or to any of the CSC RO’s field offices. Applications for FSHGE may be submitted to the nearest CSC Regional or Field Office where the applicant is currently based.
However, due to the risks of the COVID-19 pandemic, applicants are advised to contact the CSC RO to confirm the best means to submit their application, or to check if there are restrictions imposed by the local government unit where the CSC RO is located. The complete list of requirements can be accessed from the CSC website at www.csc.gov.ph. The Commission grants the HGE and FSHGE to qualified individuals pursuant to Presidential Decree No. 907, issued on 11 March 1976, which mandates the grant of civil service eligibility to college honor graduates in the hope that “immediate absorption of these honor graduates in the public service will assure their participation in public affairs and bouy up the quality of the civil service.” In 2020, the CSC has conferred 4,642 HGEs. Only two FSHGE were conferred in the same year.
www.businessmirror.com.ph • Editor: Angel R. Calso
U.S. warns of ‘consequences’ if Kremlin critic Navalny dies
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he US warned Russia of “consequences” if jailed opposition leader Alexey Navalny dies, deepening the conflict over the dissident who has already survived an alleged assassination attempt and is now engaged in the third week of a hunger strike. Navalny’s supporters on Sunday called for demonstrations across Russia on April 21, to coincide with President Vladimir Putin’s state-of-the-nation address. Putin’s most outspoken critic has been imprisoned since March 11 at the notorious IK-2 prison camp about 100 kilometers (60 miles) from Moscow for breaking parole rules. He’d gone to Germany to recover from a near-fatal chemical poisoning in Siberia that he and Western governments blamed on the Kremlin. Russian authorities deny any involvement. “We have communicated to the Russian government...they will be held accountable by the international community,” US National Security Adviser Jake Sullivan said on CNN’s “State of the Union” on Sunday. “We are looking at a variety of different costs that we would impose, and I’m not going to telegraph that publicly at this point. But we have communicated that there will be consequences if Mr. Navalny dies,” Sullivan said. Separately, Ned Price, spokesman for the US State Department, called in a tweet for Russian authorities to immediately provide Navalny with access to “necessary medical care,” while European Commission President Ursula von der Leyen called for the prisoner’s “immediate and unconditional release.” Navalny spokesman Kira Yarmysh said Saturday that he might die in a “matter of days.” His doctor, Anastasia Vasilieva, posted a copy of his bloodtest results showing what she said were “critical” levels of potassium. “This signifies kidney failure, which can lead at any time to a severe disruption to his heartbeat” including the possibility of heart failure, she said on Twitter. After complaining of acute back and leg pain, Navalny began the hunger strike on March 31 to demand specialist care from doctors outside the prison system. In a post on his Instagram account Friday, Navalny’s allies reported that a prison official had warned him that a blood test indicated a “serious deterioration” in his health and that he would be force-fed if he didn’t end the protest.
US sanctions
President Joe Biden on Thursday ordered a raft of new sanctions against Russia, including restrictions on buying new sovereign debt, in response to allegations that Moscow was behind a hack on SolarWinds Corp. and interfered with last year’s US election. Yet the moves were calibrated to punish the Kremlin for past behavior while keeping relations from deteriorating further, especially as tensions grow over a Russian military build-up near Ukraine. Biden has offered to meet Putin later this year, an invitation Russia said it responded to “positively.” At the same time, Navalny’s accelerating health crisis has sparked growing criticism in Western capitals. Biden was asked about Navalny’s condition on Saturday. “It’s totally, totally unfair,” he told reporters in brief remarks. Navalny’s fate is in Putin’s hands, French Foreign Minister Jean-Yves Le Drian said on Sunday. The Russian opposition leader’s health is a matter of “great concern,” German Foreign Minister Heiko Maas told the daily Bild, adding that Berlin “urgently” demands he receive adequate medical care. The European Union’s foreign policy chief Josep Borrell said in a statement that the 27-nation bloc was “deeply concerned” about reports of Navalny’s deteriorating state. Russia’s Federal Penitentiary Service didn’t respond to requests for comment. Officials have said previously that Navalny has received all necessary medical attention. Biden pressed Putin in a phone call on Tuesday about the poisoning of the opposition leader, which US intelligence has publicly blamed on Russia’s Federal Security Ser vice. German Chancellor Angela Merkel and French President Emmanuel Macron also quizzed Putin about Navalny in a March 30 phone call. Asked about the Russian threat to Ukraine in an interview with CBS’s Face the Nation, Macron said that warnings of “red lines” have to be followed up with action. “It’s a failure of our collective credibility vis-à-vis Russia,” he said. Dozens of public figures including five Nobel Literature Prize winners urged Putin in an open letter Friday to ensure that Navalny immediately receives medical treatment. So far, Russia has brushed aside all Western criticism of the case and Kremlin officials refuse even to mention Navalny by name. Even as his condition deteriorates, Russian prosecutors stepped up a crackdown Friday by asking a Moscow court to declare Navalny’s AntiCorruption Foundation and his Moscow campaign headquarters to be extremist organizations. The opposition group warned that the designation could subject all of its staff and volunteers to criminal prosecution and imprisonment. More than 460,000 people have pledged anonymously to take part in new demonstrations calling for his release, according to a tally on Navalny’s website. Organizers on Sunday abandoned their goal of collecting half a million signatures to schedule a new protest, saying they could no longer wait, and called for the nationwide rallies instead. Bloomberg News
The World BusinessMirror
Tuesday, April 20, 2021
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Global Covid-19 infections hit new weekly record despite vaccinations
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ore people were diagnosed with Covid-19 during the past seven days than any other week since the start of the pandemic— topping 5.2 million globally—with the worst outbreaks accelerating in many countries that are ill equipped to deal with them. The worrisome trend, just days after the world surpassed 3 million deaths, comes as countries are rolling out vaccinations in an effort to get the virus under control. The data from Johns Hopkins University showing a 12 percent increase in infections from a week earlier casts doubt on the hope that the end of the pandemic is in sight. The weekly increase surpassed the previous high set in midDecember. While infection rates have largely slowed in the US and UK, countries in the developing world—India and Brazil in particular—are shouldering surging caseloads. The global death toll is also resuming momentum. Fatalities have increased for the past month and were about 82,000 the week ended April 18, an average of almost 12,000 a day. That’s up from just over 60,000 in the week ended March 14, or about 8,600 a day, the most recent nadir. India and Brazil are the two largest contributors in driving up cases globally—a race neither of them wants to win. Facing a sudden surge in coronavirus infections, India is once again home to the world’s second-largest outbreak, overtaking Brazil after the latter moved ahead in March. Hospitals from Mumbai to Sao Paulo are under increasing pressure as admissions continue to rise. India and Brazil have so far administered doses equivalent to cover 4.5 percent and 8.3 percent of their populations respectively,
compared with 33 percent for US and 32 percent in UK, according to Bloomberg’s vaccine tracker.
Serious setbacks
But it’s not just developing nations that have seen recent setbacks in their efforts to tackle the pandemic. Rare cases of clotting seen in people who have taken vaccines made by Johnson & Johnson and AstraZeneca Plc have fueled the vaccine skepticism being faced by governments worldwide. New variants of the virus have also sent infections surging further. Brazil is where one of the most potentially deadly coronavirus mutations, the P.1 variant, was identified in December. Studies suggest these strains—along with variants first seen in South Africa and the UK—are more contagious. Key developments:
HK bans flights from Asia hot spots
Hong Kong will ban f lights from India, Pakistan and the Philippines for 14 days starting April 20, the government said in a statement Sunday. A circuit breaker arrangement is triggered for each of the countries as there had been five or more arrivals with the N501Y mutant coronavirus strain within seven days, the government said. Under the mechanism the three countries will be designated as “extremely high-risk.” Neighboring Macau will also require visitors who have been in In-
dia, Pakistan and the Philippines in the past 28 days to quarantine for 28 days upon arrival, according to a government statement on Sunday.
Tokyo weighs state of emergency
Tokyo Gov. Yuriko Koike said on Sunday evening that she instructed officials to consider a state of emergency as an option to contain the coronavirus outbreak, public broadcaster NHK reports. Asked when she would seek an emergency declaration, she said “the number of confirmed virus cases is on a rising trend and it should be considered with a sense of speed.”
Buenos Aires City in-person classes to continue April 19
Schools will continue with inperson attendance after a local court decision ruled against a presidential decree that called for virtual learning, Buenos Aires City Mayor Horacio Rodriguez Larreta said on Sunday night. In-person school attendance in the Latin American country’s capital was set for suspension for two weeks starting Monday.
Quarantine-free travel begins between Australia, New Zealand
Australia and New Zealand kicked off their first quarantinefree flights since the pandemic began, after they each successfully halted the spread of the virus. The flights reflect “a worldleading arrangement that opens up travel while aiming to keep Covid-19 out of the community,” Australian Prime Minister Scott Morrison and New Zealand counterpart Jacinda Ardern said in a statement. Travelers between the two nations had been previously required to quarantine for at least two weeks upon arrival.
Oxford starts first study to reinfect recovered patients
People who have fought off Covid
Japan seeks release of Japanese journalist arrested in Myanmar
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OKYO—Japan’s government said Monday it is asking Myanmar to release a Japanese journalist who was arrested by security forces in its largest city of Yangon the previous day. Chief Cabinet Secretary Katsunobu Kato told reporters Monday that his government is asking Myanmar authorities to explain the arrest and provide other details while asking for his release as soon as possible. He did not identify the detainee, but Japanese media identified him as Yuki Kitazumi, a former Nikkei business newspaper reporter currently based in Yangon as a freelance journalist. “We will continue asking the Myanmar side for his early release, while doing our utmost for the protection of the Japanese citizens in that country,” Kato said. Japan’s NHK public television quoted witnesses as saying that they saw Kitazumi being arrested and taken from his home. K itazumi had been detained brief ly in late February by police while covering pro-democracy protests in Mya nma r, where
will be reinfected in a first-of-itskind trial at the University of Oxford, potentially illuminating how to develop more effective vaccines against the virus. Researchers are looking for 64 healthy, previously-infected volunteers aged 18 to 30 year to be studied under controlled, quarantined conditions for at least 17 days, the university said. They’ll be infected with the original strain from Wuhan and followed for a year.
Canada sends emergency aid to Ontario
Canadian Prime Minister Justin Trudeau said Sunday he’ll deploy additional health-care workers and equipment to help Ontario, the country’s most populous province, which is struggling to contain a sharp rise in Covid-19 cases. The move follows Ontario Premier Doug Ford’s decision on Friday to impose some of North America’s toughest restrictions to get a handle on the region’s third wave of the pandemic that threatens to overwhelm its health-care system.
Half of US adults have at least one dose
Half of Americans 18 years or older have received at least one dose of a Covid-19 vaccine, the Centers for Disease Control and Prevention reported Sunday. About 32 percent of adults have been fully vaccinated. Another 3.5 million doses were reported on Sunday, as the sevenday average dipped slightly to 3.19 million doses, according the Bloomberg Vaccine Tracker. Most states have opened shots up to all people 16 years and older, and some are reporting a growing surplus of unused vaccine. Total doses administered are 209 million.
Turkey reaches record deaths
Turkey reported 318 fatalities on Sunday, a 10 percent rise from the previous day and the highest figure since the start of the pandemic. As the number of new cases continues to hover among the highest
the militar y ousted the elected government Februar y 1. Japan has stepped up its criticism of Myanmar’s deadly crackdown on opposition but has taken a milder approach than the United States and some other countries that imposed sanctions against members of the military junta. On Saturday, the junta released more than 23,000 prisoners to mark the traditional new year’s holiday. At least three had been
political prisoners, but it wasn’t immediately clear if any activists detained during the post-coup crackdown had been freed. According to the Assistance Association for Political Prisoners, which monitors casualties and arrests, government forces have killed at least 728 protesters and bystanders since the takeover. The group says 3,141 people, including ousted civilian leader Aung San Suu Kyi, are in detention. AP
Macron says France open soon to US
French President Emmanuel Macron said US citizens will be able to travel to the country again in the summer. France is working on a “special pass” to allow Americans who are vaccinated to enter the country, in addition to an ongoing EU initiative to create certificate for European citizens to travel, he said on CBS’s “Face the Nation.” Macron also said Russia’s Sputnik vaccine was not a “solution” to accelerate France’s vaccination campaign because it will “take time” for the European Medicine Agency to approve and produce the vaccine in Europe.
US at precarious point, Fauci says
The US is “in somewhat of a precarious position” with a seven-day average of more than 60,000 new Covid-19 infections per day, though vaccinations will bring the number down, Anthony Fauci, President Joe Biden’s chief medical adviser, said on ABC’s “This Week.” “That’s good news, we’ve got to keep that up,” he said. “But we also have to make sure that people don’t throw caution to the wind and declare victory prematurely.” He also said a decision on how to resume vaccinating Americans with the Johnson & Johnson coronavirus shot will probably come by Friday. “I doubt very seriously if they just cancel” the J&J vaccine, one of three approved for use in the US, he said. Bloomberg News
India locks down capital as nation’s Covid-19 infections top 15 million
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In this February 26, 2021 photo, Japanese journalist Yuki Kitazumi raises his hands as he is escorted by police upon arrival at the Myaynigone police station in Sanchaung township in Yangon, Myanmar. Japan’s government said Monday, it is asking Myanmar to release the Japanese journalist who was arrested by security forces in its largest city of Yangon the previous day. AP Photo
in the world, an expert warned about the surge in the number of critically ill younger people. Sunday’s death toll raised total fatalities to 35,926, official data show. Social distancing measures announced on April 13 have “started to decrease the speed of the increase,” Health Minister Fahrettin Koca said in a tweet. However, the nation ranks as the third in the number of daily cases, behind India and Brazil.
EW DELHI—New Delhi was being put under a weeklong lockdown on Monday night as an explosive surge in coronavirus cases pushed the health system of India’s capital to its limit. Chief Minister Arvind Kejriwal said in a news conference the national capital was facing shortages of oxygen and some medicine. “I do not say that the system has collapsed, but it has reached its limits,” Kejriwal said, adding that harsh measures were necessary to “prevent a collapse of the health system.” According to India’s health ministry on Monday, Delhi reported 25,462 cases and 161 deaths in the past 24 hours. India overall reported 273,810 new infections on Monday, its highest daily rise since the start of the pandemic and now has reported more
than 15 million infections, a total second only to the United States. The Health Ministry also reported 1,619 deaths from Covid-19 in the past 24 hours, pushing the toll over 178,769. India has the fourth highest number of deaths after the US, Brazil and Mexico—though, with nearly 1.4 billion people, it has a much larger population than any of those countries. The soaring cases and deaths come just months after India thought it had seen the worst of the pandemic, but experts say even these figures are likely an undercount. Similar virus curbs already have been imposed in the worst-hit state of Maharashtra, home to India’s financial capital, Mumbai. The closure of most industries, businesses and public places on Wednesday night is to last 15 days. AP
Sports
Araneta expects more PHL athletes to qualify for Tokyo
BusinessMirror
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HE Philippines could qualify at least 15 more athletes to the Olympics, according to Team Philippines chef de mission to Tokyo Mariano “Nonong” Araneta. Weightlifter Hidilyn Diaz officially qualified on Sunday in Tashkent as the seventh member so far of Team Philippines after gymnast Carlos Yulo, pole vaulter EJ Obiena and boxers Carlo Paalam, Nesthy Petecio, Irish Magno and Eumir Felix Marcial. Araneta’s list of potential Olympians includes golfers Yuka Saso and Bianca Pagdanganan, skateboarder Margielyn Didal, triathlete Kim Mangrobang, judoka Kiyomi Watanabe, runners Eric Cray and Kristina Knott and weightlifters Kristel Macrohon and Elreen Ann Ando. Jamie Lim, Junna Tsukii, Joane Orbon, Sharief Afif, Jason Macaalay and Alwyn Batican are currently in a training camp in Istanbul and will fly to Paris in June for the qualifiers for karate, which is making its Olympic debut in Tokyo. Filipino-American Patrick Coo is also hoping to catch the last bus in cycling’s BMX racing in a qualifier in Colombia next month, while rowing will send five hopefuls to the sport’s qualifier in Tokyo in May. The country also gets to field two compulsory representatives—male and female—in swimming. Saso (No. 22) and Pagdanganan (No. 42) remained inside the top 60 cut off for golf in the Olympics, according to Mariano. “Yuka Saso has a great showing. The good news is only two athletes per country are allowed to qualify,” Araneta told BusinessMirror on Monday. “So even though the Koreans have many players in the rankings, only two from them will qualify.” “I think we can expect a total of more than 15 to 17 Olympic-bound athletes by June,” he said. Philippine Olympic Committee President Rep. Abraham “Bambol” Tolentino said he believes the country’s Olympic gold medal drought will end in Tokyo. “It’s a tough one, but I think we can win a minimum of one,” said Tolentino, who congratulated Diaz for officially qualifying to the Olympics on Sunday night. Josef Ramos
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| Tuesday, April 20, 2021 mirror_sports@yahoo.com.ph Editor: Jun Lomibao
HIDILYN LEARNS CRUCIAL LESSON By Josef Ramos
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IDILYN DIAZ officially claimed her ticket to a fourth-straight Olympic appearance in Tokyo despite finishing outside the podium in the Asian Weightlifting Championships in Tashkent on Sunday night. No regrets for the 30-year-old silver medalist at the Rio 2016 Games whose mission at the continental championships was to formally qualify for the Tokyo Olympics. But Tashkent was a learning experience for Diaz, who was very thankful for having discovered a flaw in her system—not on her
lifting skills but with her focus. “I hesitated,” Diaz intimated to BusinessMirror through a video call a few hours after her competition. “I was a little bit nervous because of the tension and the lack of tournaments.” “This pandemic is a difficult time for everyone, I didn’t compete for 15 months,” she added. Lucky for Diaz, the hesitation came in the Uzbek capital, and not in Tokyo. “The mistake is a blessing in disguise and without this mistake, I won’t learn,” she said. “It’s better that I committed the mistake now, than later [in Tokyo]. I will learn from this.” Diaz wound up fourth in the women’s 55 kgs category with lifts of 99 kgs in the snatch
and 118 kgs in the clean and jerk for a total 212 kgs. She is now competing in a heavier category from Rio, where she was in the 53 kgs class. China’s Liao Qiuyun and Li Yajun finished solidly at 1-2 with 222 kgs and 221 kgs total lifts, respectively. Uzbek Muattar Nabieva beat Diaz to the bronze by only 1 kg with a total lift of 213 kgs. “Even though this was just a tuneup tournament, I still really wanted to give my best,” Diaz said. “But I did something wrong. I know I can beat them.” Diaz became the seventh Filipino to qualify for the Tokyo Olympics so far after gymnast Carlos Yulo, pole vaulter EJ Obiena and boxers Carlo Paalam, Nesthy Petecio, Irish Magno and
PLDT, Smart, praise Diaz’s achievement
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LDT and its wireless unit Smart Communications Inc. (Smart) congratulated weightlifter Hidilyn Diaz for officially qualifying for the Tokyo Olympics. Diaz is a beneficiary of the MVP Sports Foundation (MVPSF) chaired by Manuel V. Pangilinan, who is also head of PLDT. “We have always believed in the importance of sports in nation-building,
Euro soccer split as 12 clubs launch breakaway league
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and Hidilyn has given us another reason to be proud as Filipinos,” said Alfredo Panlilio, Smart Communications President and CEO and PLDT Chief Revenue Officer. “We are continuously supporting her in her journey to the Olympics, as she joins the roster of Filipino athletes who will be representing the country in this much-awaited sporting event.” Panlilio is the First Vice President of the Philippine Olympic Committee and also sits as the President and Trustee of the MVPSF.
ONDON—A group of 12 elite English, Spanish and Italian clubs dramatically split European soccer on Sunday by announcing the formation of a largelyclosed Super League. They are leaving the existing UEFA-run Champions League structure despite warnings they could be kicked out of their domestic competitions and face legal action. The seismic move to shake up the world’s biggest
HIDILYN DIAZ takes a selfie with cousin and fellow competitor Mary Flor Diaz during a break in the tournament.
Eumir Felix Marcial. And while the focus was on Diaz, another Diaz of the same bloodline started to make a name for herself. Diaz’s cousin Mary Flor Diaz clinched three silver medals in the non-Olympic qualifying women’s 49-kg class topped by India’s Jhilli Dalabehera on Saturday. “I am happy for Mary Flor. I know her sacrifices,” said Diaz of her cousin who will turn 22 on May 4. Four other Filipinos are competing in the championships with Kristel
Macrohon and Elreen Ann Ando needing to finish in the top eight of their respective divisions to snatch tickets to Tokyo. Diaz and her strength and conditioning coach Julius Naranjo and Chinese Coach Kaiwen Gao will fly back to Malacca in Malaysia on Saturday to resume their training camp. The Olympics are set from July 23 to August 8.
OUTCH!
The Minnesota Timberwolves’ D’Angelo Russell (right) hits the Los Angeles Clippers’ Paul George in the mouth as George tries to shoot during the first half of their National Basketball Association game on Sunday. The Clippers won, 124-105. AP
sport is partly engineered by the American owners of Arsenal, Liverpool and Manchester United who also run US franchises in closed leagues—a model they are trying to replicate in Europe. The power-play came after the rebel clubs reneged on a promise on Friday to back the plan by UEFA—European football’s governing body—to expand the Champions League beginning in 2024. The deal was designed to appease their wishes for more games, seemingly because they couldn’t control the sale of rights to the existing competition. The Super League plan was first leaked in January but re-emerged this weekend. Real Madrid president Florentino Perez would be the founding chairman of the SL, which said it “intended to commence as soon as practicable” as a 20-team competition playing in midweek like the current Champions League and Europa League. “We will help football at every level and take it to its rightful place in the world,” Perez said in a statement. “Football is the only global sport in the world with more than four billion fans and our responsibility as big clubs is to respond to their desires.”
No evidence was presented that supporters want a Super League. Fan groups across Europe last week criticized even the current Champions League expansion plan as a “power grab.” Only 12 clubs have signed up for now— with none from France or Germany—but the SL hopes for three more as permanent members. Barcelona and Atletico Madrid are the other founding members, along with Juventus, AC Milan and Inter Milan. Five slots would be left open to be determined each year based on the previous season’s results. UEFA warned clubs that joining the “cynical project” based on self-interest would see them banned from playing in any other competition— domestic, European or global. It said their players could be denied the opportunity to represent their national teams. The statement was issued jointly with the leagues and national governing bodies from England, Spain and Italy. England has the most clubs with the six including Chelsea and Manchester City, who are due to contest a Champions League semifinals this month. Also included is Tottenham, which is outside of the Premier League’s top four to qualify for the Champions League next season. AP
Who is Younghoe Koo? Vincent Juico @VJuico, Instagram vpjp_j, vince.juico@gmail.com
SPORTS WITHOUT BORDERS IF there was a hall of fame for stories of the human spirit, courage and perseverance, Younghoe Koo’s will surely be in it. It’s a story made for film like the movie Rudy, where the title character, played by Sean Astin, never gives up on his dream of playing college football for one of the sport’s storied programs, the University of Notre Dame Fighting Irish. Younghoe Koo plays kicker for the National Football League’s (NFL) Atlanta Falcons. He is only the fourth Korean to ever play in the NFL. The story isn’t that he’s only one of a handful of Koreans to make it to the NFL, it’s how he got there. According to NFL.com, “During a lunch break, kids were playing two-hand-touch football,” Koo told The Bill Simmons Podcast in 2017. “They said, ‘Punt it,’ because they knew I played soccer. And they saw me punt the ball and they were like, ‘Oh man. Look at this kid! You should come out and play football with us.’ And that’s how I signed up for football.” “My middle school coach, my teammate’s dad, came to my house and told my dad, ‘He has a future in [football],’” Koo told Simmons. “Because my dad looked at it like I was just kicking a football. But my middle school coach explained to my dad, ‘You can get a scholarship and you can have a future in this.’” In an ESPN.com article, “Koo grew up playing soccer, but one day in sixth grade, John Byon, a Korean-American classmate, invited Koo to play football at recess. Byon told him to kick the ball to start off the game. “I s--- you not, it was straight out of The Sandlot. Straight out of a sports movie,” Byon told me in 2017. “The ball just flew over the field we were playing in and over the fence. It was like, ‘Oh my god. You have to play football.’” “I didn’t know what kicking was,” Koo says.
“My parents didn’t know what football was.” Koo landed a full athletic scholarship to play for Georgia Southern University where he missed only three field goals out of 29 attempts. Koo was signed as an undrafted free agent in 2017 but was waived after four games in favor of a more consistent and more experienced veteran player. Koo became sort of a young journeyman after the Chargers stint, moving from the Patriots roster where he was once again waived to the Atlanta Legends of the Alliance of American Football where he was 14 of 14 on field goals which caught the attention of the Atlanta Falcons who signed him. Thanksgiving of 2019 made both the fans and the organization realize that they had a keeper on their hands. NFL.com says, “There’s a lot to pack here. In summary: Koo went from Korea to Georgia, then shot a viral kicking video that got him to California and back to Georgia in time to lead all pro kickers in made field goals (29), total points (109), and field goal percentage (96.7%) in 2020.” During those times, things didn’t go so well, according to ESPN.com, “I played it cool, but emotionally ...” Koo said, “I was emotional. I was just there, and then the next thing I know, I’m unemployed. I didn’t really know what was going on, man. I didn’t know what to think. It was my first time experiencing that.” Koo gave himself three years, just three years to make something happen or else walk away. “I tried to get a backup plan, this and that, but it just never sat right with me. I felt I was wasting energy,” Koo said. “If it doesn’t work out—then I’ll put all my energy into something else. But I can sit at a desk and get a job when I’m 40. I can’t kick a ball when I’m 40.” ESPN.com explains what has happened to
Talisay eyes sweep
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JAS Zenith-Talisay City guns for a first-round sweep when it tangles with Tabogon in the Visayas leg of the Chooks-to-Go Pilipinas VisMin Super Cup on Tuesday at the Civic Center in Alcantara, Cebu. The game is set 3 p.m. with the Aquastars beating the ARQ Builders Lapu-Lapu City, 84-75, last Saturday to go unbeaten in four outings. Veteran guard Paulo Hubalde sparked the Aquastars’ breakaway in the fourth quarter with two three-pointers en route to tallying 16 points, seven rebounds, nine assists and two steals. MJAS Zenith will be going up against a Tabogon squad that is coming off an 86-78 win over the Dumaguete Warriors. KCS Computer Specialist-Mandaue City, on the other hand, squares off with Lapu-Lapu City at 7 p.m. with solo second place in the standings on the line. They have identical 2-1 cards. Younghoe since then, “When Koo’s deadline came up in April 2020, his life couldn’t have felt further from that day in Los Angeles. This season, the now-26-year-old Atlanta Falcon finds himself as the top point scorer in the NFL, November’s NFC Special Teams Player of the Month, a pointscoring miracle for fantasy football owners and a social media sensation among football Twitter.” Ava Maurer, Koo’s girlfriend since he was in eighth grade, explains his work ethic, “If something’s not going as planned, if he gets cut, that only makes him work harder,” Maurer said. “So I knew that although [getting cut by the Chargers] was upsetting at that moment, it wouldn’t stop him.” For Koo, the cherry on top of the sundae may have been last season, when all his hard work and perseverance were acknowledged when he was selected to his first Pro Bowl, the NFL equivalent to the National Basketball Association All-Star Game. Koo’s journey to the NFL has been anything but conventional and ordinary, the same article says, “He moved to the United States with his mother as a sixth-grader and didn’t speak any English when he first enrolled in school in Ridgewood, New Jersey, a short ride from New York City. At first, Koo gravitated toward the familiar—kids who came from similar backgrounds, spoke fluent Korean and ate the same food.” As I was doing my research for this article, it dawned upon me that special teamers, particularly kickers, as ESPN.com writer Joon Lee explained, “That early sense of independence—and the isolation he remembered from being an immigrant and outsider when he first moved to the United States—has aligned well with the isolation of being a kicker in the NFL. Special-teamers train independently from offensive and defensive players walking through the week’s game plans— and for Koo, success and failure falls solely on the strength and accuracy of his foot.” Maurer said, “As you are coming from a different country and you’re learning, you do have to work a lot for yourself and you lean on yourself a lot more,” Maurer says. “That does correlate to the kicker mentality, because you’re not relying on anyone really but yourself to make that kick. You’re not throwing the ball and hoping someone catches it. It’s you. It’s just you.”