BusinessMirror April 23, 2021 by BusinessMirror

BSP poll: Banks still cautious in lending By Bianca Cuaresma

@BcuaresmaBM

ANKS were found to still be wary about lending in the first three months of the year, as more lenders reported tighter loan standards during the period. The Bangko Sentral ng Pilipinas (BSP) reported on Thursday that banks’ lending standards “remained cautious” in January to March this year, according to the latest results of their Senior Bank Loan Officers’ Survey. Results based on the diffusion index (DI) approach continued to point to a net tightening of overall credit standards for both loans to

enterprises and households in the first quarter of 2021, mirroring the results in the last three months of 2020. In the DI approach, a positive DI for credit standards indicates that the proportion of respondent banks that have tightened their credit standards exceeds those that eased which results in a so-called net tightening of lending standards. The BSP, however, said that a bulk of banks also indicated unchanged credit standards for the period. Tightening of lending standards was recorded across all borrower firm sizes, specifically, top corporations, large middle-market enterprises, small and medium enterprises, and micro enterprises.

Respondent banks attributed the reported tightening of overall credit standards largely to a deterioration in the profiles of borrowers, reduced tolerance for risk, and less favorable economic outlook, among other factors. The net tightening of overall credit standards for enterprises was reflected in reduced credit line sizes; stricter collateral requirements and loan covenants; and increased use of interest rate floors. A net tightening of overall credit standards was also observed for household loans, specifically for housing, auto, and personal and salary loans. The BSP said respondent banks cited a more uncertain economic

Friday, April 23, 2021 Vol. 16 No. 191

outlook, a deterioration in borrowers’ profile, and reduced tolerance for risk as the key factors that contributed to the overall tightening of credit standards for household loans. Bank lending in the country hit its biggest contraction in more than 14 years in February 2021 as it fell by 2.7 percent in February, contracting further from the 2.4-percent decline seen in the previous month. Bank lending first collapsed into contraction territory in December by 0.7 percent. February was the eleventh consecutive month that bank lending has slowed despite the aggressive efforts of the BSP to lower interest rates and boost liquidity conditions.

P25.00 nationwide | 2 sections 20 pages |

PHL NETS P122.4B FROM

EURO BOND TRANSACTION ‘SPILLOVER EFFECT OF GROWTH IN OTHERS COULD BENEFIT PHL’ By Cai U. Ordinario

HE growth in other countries could benefit overseas Filipino workers (OFWs), as well as the Philippines’s export earnings, according to a local think tank. In its Market Call report, the First Metro Investment Corp. and University of Asia and the Pacific (FMIC-UA&P) Capital Markets Research said the growth in other countries would “produce positive spillover effects” for the country. This month, the International Monetary Fund (IMF) said the United States economy is poised to grow 6.4 percent this year while the Middle East and North Africa region is expected to post 4-percent growth. Reports said the Chinese economy posted growth of 18.3 percent in the first quarter, the fastest since 1992.

San Miguel Corp. President and CEO Ramon Ang and Public Works Secretary Mark Villar inspect the Skyway Stage 3 Nagtahan exit ramp in Manila, which opened on Thursday. The opening of the ramp—allowing northbound motorists to stay on the skyway longer and avoid tight streets, is seen to further boost traffic and provide more alternatives to those avoiding Edsa. ROY DOMINGO By Bernadette D. Nicolas

@BNicolasBM

HE Philippine government borrowed 2.1 billion euros ($2.53 billion or about P122.4 billion) by selling its first-ever tripletranche euro-denominated bonds. See “PHL,” A2

PESO exchange rates n US 48.3880

@caiordinario

“Economic grow th from other countries would produce ‘positive spillover effects,’ beneficial to OFWs and exports,” FMIC-UA&P Capital Markets Research said in its report released on Thursday. “The spate of good news should offset a bit the queasiness brought about by the huge increase in Covid cases and the corresponding tightening of restrictions. Nonetheless, the long view seems to favor more positivity,” it added. Apart from the good news in other countries, FMIC-UA&P Capital Markets Research said the Labor Force Survey in February showed some improvement in terms of jobs generated. The local think tank said based on the Philippine Statistics Authority (PSA), a total of 1.9 million jobs were created in February compared to January 2021. See “Spillover,” A2

PHL can pay for US’s excess Covid jabs By Recto Mercene

@rectomercene

HE Philippines is willing to pay for any surplus Covid-19 vaccines from the United States and not rely on dole

outs or donations as proposed by a Mindanao lawmaker. “No, we will pay for it. We’re not a charity case. We have a P4trillion budget largely unused,” Foreign Affairs Secretary Teodoro L. Locsin Jr. said on Twitter on

Thursday, adding, “Time to throw away our traditional tin cup. Or, if we insist on asking for charity, then switch the yellow sun in the flag with a tin cup.” Locsin’s remarks were triggered by an appeal from Cagayan

de Oro Rep. Rufus Rodriguez, who said that the US, the country’s long-time ally, can donate their extra vaccines as the Philippines grapples with its dwindling supply, coming mostly from China. Continued on A2

n japan 0.4478 n UK 67.4142 n HK 6.2324 n CHINA 7.4554 n singapore 36.4231 n australia 37.5104 n EU 58.2446 n SAUDI arabia 12.9042

Source: BSP (April 22, 2021)

News

BusinessMirror

A2 Friday, April 23, 2021

PHL... Continued from A1

The government raised 650 million euros each from four-year and 12-year notes while it raked in 800 million euros from its 20-year tranche. This deal also marks the government’s largest euro bond transaction and the countr y’s second offshore bond sale this year following the 55 billion yen Samurai bonds it issued last month. Proceeds of the euro bond issuance will be for the government’s general purposes, including budgetary support. The Bureau of the Treasury said there was strong demand for the four-year, 12-year and 20-year global bonds which enabled the government to revise its price guidance twice across all three tranches. The order book peaked at around 6.5 billion euros. The 20-year bond offering was also the country’s longest-ever tenor bucket for euro bond issuances and its largest individual euro bond tranche. The four-year and 12-year euro bonds fetched a coupon rate of 0.25 percent and 1.2 percent, respectively. The four-year tranche was priced at 75 basis above benchmark while the 12-year tranche was priced at 105 basis points above benchmark. The 20-year bonds were also priced at 135 basis points above benchmark and a coupon rate of 1.750 percent. The transaction is expected to settle next Wednesday, April 28, 2021.

Dominguez: Investor confidence

Finance Secretary Carlos G. Dominguez III said the Philippines’s successful return to the international capital market for the second time this year showed investor confidence in the country’s prospects for a strong recovery from the prolonged pandemic. “Investors apparently believe we have what it takes to ride out the Covid-19 crisis on the strength of the f isca l discipline that has been maintained and the tax measures plus other reforms that have been carried out by the government since President Duterte assumed office five years ago,” Dominguez said. Finance Undersecretar y Mark Joven added the euro bond market has “proven to be an attractive and sustainable funding source for the Republic on top of our usual Peso, Dollar and Japanese Yen issuances.” For her par t, Nationa l Treasurer Rosalia V. de Leon sa id “t he success of t his Euro deal, being already our fourth offer ing since the pandemic, serves as affirmation that we are on track to emerge from this crisis as a stronger and more resilient economy.” The global bonds are expected to be rated Baa2 by Moody’s, BBB+ by Standard & Poor’s, and BBB by Fitch. BNP Paribas, Credit Suisse, Goldman Sachs, J.P. Morgan, Nomura, and Standard Chartered Bank acted as Joint Lead Managers and Joint Bookrunners for the transaction. The country aims to borrow a total of P3.03 trillion this year, roughly the same amount it borrowed in 2020. Bulk of the borrowings this year will be sourced locally at P2.58 trillion while P442.36 billion will be raised from foreign sources.

www.businessmirror.com.ph

DOLE studies requirement of PNP clearance for unions

HE Department of Labor and Employment is now conducting consultations on the possible impact on business and workers of a proposal requiring a Philippine National Police (PNP) clearance for its transactions with the public, but labor groups are warning DOLE officials this may be used to harass unions. Labor Secretary Silvestre H. Bello III said they are still studying the proposal since it could affect their operations.

Besides labor union registrations, DOLE issues Alien Employment Permits for foreign nationals and working child permits.

It also gives occupational safety clearances to businesses.

Additional requirement

Bello said he has directed his senior officials to gather inputs from the affected stakeholders. Sentro ng Nagkakaisa at Progresibong Mang gagawa (Sentro) Secretar y- Genera l Joshua Mata said labor groups were given until April 25, 2021 to submit their reply on the survey being done by the Bureau of Labor Relations (BLR) on the matter. In a letter submitted to him last month, Bello said PNP chief Debold Sinas asked DOLE to make use of their National Police Clearance (NPC) to “have a broader information as to the character” of their applicants. “This means before we issue a

permit, there should first be a police clearance,” Bello said in a phone interview. “I replied [to his letter] that his intention was good, but for us to consider it, I will have to consult our usual tripartite: workers, employers and the DTI [Department of Trade and Industry],” he added.

Labor opposition

Labor coalition Nagkaisa rejected the “absurd” proposal, which it stressed violates the International Labor Organization Convention 87, which “reminds public authorities to refrain from any interference which would restrict this right or impede the lawful exercise of the right to selforganization.”

Nagkaisa said in a statement: “Requiring police or military clearance in the registration of unions or in the exercise of workers' right is not only a red tape burden but also a manifestation of an unstable government afraid of its own shadow.” For it s p a r t , B u k lu r a n ng Manggagawang Pilipino (BMP) said the NPC can be abused by PNP and encourage its red-tagging of labor unions. “ The PNP’s major objective becomes clear: to crush the labor movement further and transform Filipino workers i nto a n i mpover i shed and docile labor force,” said BMP in a separate statement. Samuel P. Medenilla

DPWH halts controversial bridge project in Palawan T HE Department of Public Works and Highways (DPWH) has suspended the controversial P4.2-billion Coron-Culion Inter-Island Bridges project, as it seeks to secure the necessary permits and environmental clearance required by several laws. In a roundtable discussion hosted by the environmental group Oceana Philippines on Thursday, DPWH Officer-in-Charge for Region 4B [Mimaropa] Yolanda Tangco admitted she had no idea how the project was conceived, only that the project was included in the General Appropriations Act of 2019. “Sorry, I really don’t know who really is the [project] proponent,” adding that she was only transferred to the region in the latter part of 2019. She added, “The funds were released in 2020. We have also the consultancy for the FS [feasibility study] — the funds were released at the same time. On the part of the DPWH, because we had a release of P250 million and based on the ruling of the DBM [Department of Budget and Management] and targets of

the DPWH, we had to obligate the amount. We were forced to bid this out, so if we obligate this, we still had two years to implement the project,” she said in Taglish. While construction had already started for the 21-kilometer bridge’s access road, a work-suspension order was issued by Tangco to contractor JH Pahara Construction Corp. after environmentalists launched a petition to stop the project. Effective April 8, construction on the access road was to be stopped “until all the required clearances from the Department of Environment and Natural Resources [DENR], Environment Management Bureau, Palawan Council for Sustainable Development, and other requirements have been complained/ approved,” as per Tangco’s work-suspension order dated April 7, 2021.

Feasibility study forthcoming

The official apologized for the furor caused by the bridge project. “DPWH did not have the intention not to follow all regulations. We apologize for that; we didn’t realize that

we would not be able to comply with the FS because of the ongoing pandemic,” she said. The FS is scheduled to be completed by July, “and only then can we determine if the project is indeed feasible,” she added. Tangco explained that the bridge project is “part of the LIP [Local Infrastructure Projects]” under the DPWH’s budget in 2019. As per DBM sources, LIPs are usually proposed by legislators, and is a basically a set of funds which legislators divvy up among themselves for use in their pet projects. She added, “mitigating measures” will be adopted if some critical areas were already impacted by the initial construction work. If the project is no longer deemed feasible, Tangco said “no more additional releases will be made. We will remove the project. We will revert the funding and terminate the contract.” For her part, DPWH’s consultant for the feasibility study, Architect Cathy Saldaña of PDP Architects, assured the roundtable participants, “We are focusing on sustainability and

Spillover... Continued from A1

How ever, with a larger labor force at 2.1 million, the think tank said, the unemployment rate increased to 8.8 percent in February. “With LFS done now monthly, policy-makers can make faster adjustments to soften the negative impact of the pandemic,” the think tank said.

Expansion mode

Meanwhile, FMIC-UA&P Capital Markets Research said that while data from IHS Markit Philippines showed the country’s manufacturing PMI sliding to 52.3 in March 2021 from 52.5 in the previous two months, this meant the sector was already in expansion mode. FMIC-UA&P Capital Markets Research said a manufacturing PMI of above the 50-level means the manufacturing sector was in expansion mode. This indicated an improvement in the health sector wherein output grew fastest since June 2019. However, the February data from the PSA showed the average capacity utilization rate of the country slowed to 53.8 percent from 56.7 percent in the previous month. PSA said the proportion of establishments that operated below 70 percent capacity was more than half of the total number of responding establishments. “Employ ment rema ined sof t, however, while output inflation apparently moved up fastest since November 2018. Finally, the outlook for

environment.” With advanced technologies and the use of the correct materials, she said the project “will conform with non-toxicity as well as provide a future habitat now for the marine life.” She added, “We are also cognizant of the fact that when you design footings for a bridge, you can find a way to avoid those areas that are really sensitive,” underscoring that many bridges around the world have been able to keep intact the marine resources and economic benefits these provide. She said, part of her firm’s work as FS consultant is to consult with the stakeholders regarding the project.

Permits from DENR needed

DENR Regional Director Ma. Lourdes Ferrer told the forum that even before the media picked up the issue, “We already had initial plans to discuss this with the DPWH because there still was no feasibility study. And after the FS,

there should be a detailed design. We want an ECC [environment clearance certificate]. They have to get these permits from us but [we noticed] roads were already being constructed, which will have pass through a mountain.” Aside from the FS, she said, the DENR requires an environment impact assessment study...this is a huge project. “While Coron-Culion is not a protected area, we were instructed by the Secretary [Roy A. Cimatu] that there must be consultations [with stakeholders]; so the concerns on biodiversity, the heritage value in the area, chances are these will come into that. In the EIA, if we see there are sensitive areas that will be hit by this project, we will have to tell them they can’t push through with those aspects. We will look for remediation measures.” She also underscored,“All government projects pass through ECC [process].” Ma. Stella F. Arnaldo

PHL can pay for US’s excess Covid jabs production stayed in the positive territory,” FMIC-UA&P Capital Markets Research said. Meanwhile, the think tank said the 37.3-percent increase in government spending was also a good omen. This was a 10-month high and bodes well for the economy’s recovery. FMIC-UA&P Capital Markets Research said the lion’s share of the expenses went to primary expenditures as it expanded by 32.9 percent or P75.3 billion from a month ago. It pointed out that even if the P45 billion of these expenses were removed because this amount went to Government Financial Institutions (GFIs) pursuant to Bayanihan II, there would still be a gain of 18.6 percent. Under Bayanihan II, GFIs such as the Development Bank of the Philippines (DBP) or the LandBank of the Philippines (LBP) are tasked to provide guarantees to industries and sectors adversely affected by Covid-19. “NG had a good spending record in February—up 18.6 percent, after deducting P45-billion transfer to GFIs to support troubled MSMEs and sectors badly hit by the pandemic,” the think tank said. "With its cash hoard, especially after raising P411.8 billion in RTBs [Retail Treasury Bonds] in FebruaryMarch, we can expect NG [national government] to continue to ratchet spending, especially for infrastructures for the rest of 2021,” it added. This week, the National Economic and Development Authority (Neda)

said over P83 billion worth of income and wages were lost during the recent tighter community quarantine in the National Capital Region (NCR) and its surrounding areas. Neda Acting Secretary Karl Chua said the two-week enhanced community quarantine (ECQ) in the NCR Plus—Metro Manila, Laguna, Cavite, Bulacan, and Rizal—cost the economy P39.2 billion worth of income and wages based on Neda’s computations. Meanwhile, he said the country will lose P14.7 billion worth of income and wages per week during the three-week MECQ in NCR plus. The MECQ is expected to last until end-April. Chua revealed these during the public address of President Duterte late Monday to stress the importance of arresting the Covid-19 case surge nationwide. He noted that prior to the declaration of the ECQ—the strictest community quarantine classification— in NCR Plus on March 29, 2021, the country’s economy has finally started to recover from the impact of the pandemic. Around 9.3 million jobs were generated in February, which effectively offset the 8.7 million job losses in previous months and provided a net employment of 600,000, according to Chua. The economic manager said he hopes the country can minimize the country’s unemployment rate to 4 to 5 percent next year from its current rate of 8.8 percent.

Continued from A1

So far, Beijing has donated 1 million Sinovac vaccines, aside from earlier free shipments of PPEs, face shields and related medical equipment. The US has procured, accord ing to repor ts, more Covid-19 vaccines than it needed to protect its population, now with 31.9 million cases and 569,000 deaths. The Washington Post reported on April 15 that “the US could have 300 million extra vaccine doses by end of July, raising concerns about hoarding.” This, while many countries in the developing world will have to wait years to vaccinate a majority of their populations, according to a report by the Duke Global Health Innovation Center. Meanwhile, a Philippine Airlines A330 plane arrived from Beijing at 5:10 p.m. on Thursday, airlifting 500,000 doses of Sinovac vaccine. PAL said this would bring the carrier’s total delivery to 2.4 million doses of the Chinese vaccines from Beijing. At the airport to welcome the vaccine's arrival were Sen. Christopher Lawrence “Bong” Go, Health Secretary Fra nc isco T. D uque, vaccine czar Secretary Carlito

G. Galvez Jr.; testing chief Secretar y Vivencio Dizon; Undersecretary Robert Eric A. Borje of the Office of the President and Health Undersectary Carolina V. Taiño. Rod r ig uez, mea nwh i le, said the US can donate its excess doses, inc lud ing those from Pfizer, Moderna and Johnson and Johnson, noting that the US has alre ady ad m i n i ste re d o ve r 200 million doses to its estimated 330 million population. “Our access to westernmade vaccines will lessen our countr y’s dependence on China’s CoronaVac and give Filipinos vaccination options,” he added. The lawmaker said that Filipinos currently have no choice “ but to take the China-made shots because it is the only one available.” “Our remaining supply consists of perhaps only a few thousand doses of CoronaVac, while A straZeneca has run out, forcing many vaccination centers to pause i m mu n i z at ion . We bad ly need additional supply,” he rued. The government aims to vaccinate up to 70 million Filipinos by the end of the year to achieve herd immunity, according to vaccine czar Galvez.

The Nation BusinessMirror

www.businessmirror.com.ph

Editor: Vittorio V. Vitug • Friday, April 23, 2021 A3

Senators, coalition urge Duterte to ‘kick out’ Parlade By Rene Acosta @reneacostaBM

& Butch Fernandez @butchfBM

NETWORK of civil-society groups steering the country’s private response to the Covid-19 pandemic has urged President Duterte to “kick out” Lt. Gen. Antonio Parlade Jr., saying his admission of his group’s “profiling and harassing” of organizers of community pantries only served to worsen the raging health crisis. “We believe that Bayanihan and citizen-led initiatives will always be crucial for us to beat the pandemic. Mr. Parlade fails to recognize this, and his actions abet the crisis,” said the Covid-19 Action Network, a civil-society group that coordinates actions of nongovernment actors and consolidates policy gains amid the pandemic. “He has to go,” the group said in a news statement issued on Thursday. Two senators, meanwhile, are seeking to impose stiff sanctions against NTF-ELCAC that may imperil the agency’s P19-billion annual budget. But Senate President Vicente Sotto III promptly counseled caution, saying “I believe the NTFELCAC program is good.” The Senate leader warned “defunding it (NTF-ELCAC)would give back the gains of government to the rebels.” “Let us not be hasty in blaming a good program because of irresponsible statements from some officials,” Sotto said, offering another option: “Replace officials instead.” Who’s not afraid of Parlade? Parlade is the controversial threestar Army general and commander

of the Armed Forces of the Philippines Southern Luzon Command, while also serving as the spokesman of the National Task Force to End Local Communist Armed Conflict (NTF-ELCAC), the body formed by President Duterte to spearhead the government’s campaign against communist insurgency. At least 300 community pantries have been put up around the country by civic-minded volunteers and donors, whose only aim is to help poor and hungry Filipinos cope with the economic effect of the pandemic, but some of the organizers of the stalls have complained that they have been subjected to profiling, if not accused of acting as communist fronts. A pantry located along Maginhawa Street in Quezon City, which paved the way for the existence of similar community stalls around the country, has to shut down for a single day on Tuesday its operations after its key organizer, Anna Patricia Non, feared for her safety after she was “profiled” by policemen amid initial insinuations of “red tagging” by Parlade of the community food stalls. This prompted Philippine National Police chief General Debold Sinas to issue a statement that no orders have been issued for policemen to question the organizers and check on their backgrounds, saying the drive to help one another under the spirit of volunteerism has been in practice when the country observed its first lockdown last year. Other government officials, including Interior Secretary Eduardo Año have also told state agents and local

leaders to leave the pantry and their organizers alone. “Mr. Parlade’s statement that community pantry organizers are using the initiative to spread propaganda is uncalled for. We should welcome such spontaneous initiatives of community spirit or Bayanihan in a time of great national emergency. These initiatives have in fact been publicly encouraged and supported by Quezon City Mayor Joy Belmonte, Department of Interior and Local Government Secretary Eduardo Año, Department of Justice Secretary Menardo Guevarra, and Privacy Commissioner Raymund Liboro. As Commissioner Liboro stated, the police’s profiling of community pantry organizers is unlawful and a violation of their right to privacy,” the Covid-19 Action Network said. The group wanted the government to make Parlade account for his admission of the organizers’ background checking and for advancing the notion that the pantries are serving the communist group’s end. “We want to make Mr. Parlade accountable for his spurious redtagging of the organizers of community pantries. Mr. Parlade’s directive weakens the overall response of government and society to provide relief to our people at the height of the pandemic,” the group said. “To red-tag an initiative which purely intends to feed hungry Filipinos in need is utterly despicable. Helping others and offering aid that the government itself is mandated to provide is not radical, nor is it a crime,” it added. Rather than discrediting the operations of the pantries along with

their highly commendable purpose, the group said the government should instead encourage their operations. “The government must encourage the community initiatives to provide immediate relief to fellow Filipinos during this critical time. In light of the government’s admission of its resources being stretched and the difficulty it faces to provide sufficient relief, community initiatives like setting up pantries have become all the more critical,” the Covid-19 Action Network said. “As Pasig City Mayor Vico Sotto said in a tweet, government has limited resources, so any other efforts to help others is very welcome,” it added. The group said the long lines of people queuing at the pantries are proof that Filipinos need immediate assistance. “Government’s concern over overcrowding at community pantries is a clear indication that our people are seeking immediate assistance. The people flock to these areas to obtain help,” the Covid-19 Action Network said.

first to make the call months ago to realign the anti-insurgency budget to bolster funding for the “ayuda to the poor.” This as Senators Joel Villanueva and Sherwin T. Gatchalian earlier signaled intent to realign the NTF-ELCAC budget. Gatchalian cited criticisms that public funds “are not spent well” referring to reports naming some officials, including Parlade who admitted the “profiling” and background checks on the organizers of the community pantry feeding program. Parlade visibly irritated some senators when he compared the community pantry to “satan offering apple to Eve,” adding he was not ruling out the possibility “leftist elements were using community pantries to goad the people to be angry at government for failing to help them.” Drilon, however, recalled that even before the issue on community pantry, minority senators already moved for additional funding in the national budget for the feeding program.

‘Defund’

Lacson rebukes DND for keeping Parlade

SENATE Minority Leader Franklin M. Drilon, for his part, maintained senators need not wait for the upcoming plenary deliberations on the 2022 national bu get to move for defunding the ELCAC. “The President should realign the NTF-ELCAC fund under the 2021 GAA [General Appropriations Act] now because as the saying goes: aanhin pang damo kung patay na ang kabayo,” said Drilon. The Minority Leader was the

THE most pained reaction from senators came from Sen. Panfilo Lacson who recalled that since 2016, “I have been defending the budget of the Department of National Defense [DND] and all its attached agencies,” and in 2020 had “stubbornly fought to retain the P16.5-billion anti-insurgency fund of the NTF-ELCAC for 2021, arguing that it was intended for development programs, activities and projects in areas that had

been cleared of the presence of the New People’s Army [NPA], and not for armed anti-insurgency operations.” Lacson recalled, however, that the defense establishment “openly ignored” a Senate recommendation for the immediate relief of Parlade as NTF-ELCAC spokesman, “not only because his civilian position is violative of the Constitution… but [Parlade] has, in fact, on many occasions, became a ‘liability’ to the overall efforts of the government, as well as the government’s position on the pending 37 petitions against the Anti-Terrorism Act of 2020 before the Supreme Court, mainly due to his careless remarks and flawed interpretation of certain provisions of the law.” Unfortunately, Lacson lamented, “the DND has openly ignored the Senate in that regard. Thus, I am not sure if I will still defend their budget this year with the same tenacity as I did the previous years—especially if the NTF-ELCAC spokesperson continues to threaten to affect its mission with uncalled for statements.” Sen. Francis Pangilinan, for his part said in Filipino that it would be best for Parlade to shut his mouth because he is ruining the image of the AFP as a professional and disciplined institution. If the P19-billion budget for the NTF-ELCAC will just go to fund outrageous actions and viewpoints by the likes of Parlade, then, Pangilinan said, the money should just be diverted to aiding the poor. Sen. Grace Poe said the entire Senate had adopted Committee Report 186, seeking Parlade’s relief and sanction.

Third hospital gets limited permit to use Ivermectin for Covid patients

HE Food and Drug Administration (FDA) on Thursday said another hospital has been received the go-signal to use anti-parasitic drug Ivermectin for its Covid-19 patients. During a hearing of the House Committee of Good Government and Public Accountability FDA Director General Rolando Enrique Domingo

said the unnamed health facilty is the third hospital to secure compassionate special permit (CSP) to treat Covid-19. “Another hospital was granted [CSP] yesterday [Wednesday]. There is still one pending application,” said Domingo. FDA did not disclose the name of the said hospital, citing patient privacy, which comes with issued CSPs.

CSP is required before an unregistered drug, medical device or food product can be locally used. Currently, FDA said, two parties are now applying for the certificate of product registration for their respective Ivermectin products. According to the FDA, the registered Ivermectin products in the coun-

Duterte designates DFA chief as special envoy in Asean meet There are ways right now to move forward the agenda, but again we understand the Covid-19 in Japan is very serious...so in the right time once the opportunity presents itself if not via telesummit, through a phone call.

Presidential adviser on Foreign Affairs Undersecretary Robert E.A. Borje By Samuel P. Medenilla @sam_medenilla

RESIDENT Duterte will not be participating in the Asean Summit in Jakarta, Indonesia scheduled during coming the weekend. Presidential spokesman Harry Roque announced on Thursday that the President will be skipping the international event since it will be held in a face-toface setting. “The President will not personally attend. But I am sure our Department of Foreign Affairs [DFA] will be there,” Roque said in an online press briefing. In a news statement issued on Thursday, DFA said Duterte designated Foreign Affairs Secretaty Teodoro L. Locsin Jr. as his special envoy during the Asean Summit. Aside from Duterte, Thai Prime Minister Prayuth Chan-ocha was also reported to be most likely physically absent in the regional meeting. Among the highlights of the summit will be the discussion of a possible joint Asean position on the military coup in Myanmar.

Online option

IN a related development, Presidential adviser on Foreign Affairs Undersecretary Robert E.A. Borje said Duterte is now considering holding a virtual meeting with Japanese Prime Minister Yoshihide Suga. This after Suga decided to postpone his official visit to the Philippines and India to attend to matters related to novel coronavirus disease (Covid-19). Borje said the President understands the position of Suga, especially amid the serious Covid crisis in Japan. He said President Duterte is now considering pushing through with his talk with Suga through other means aside from a face-to-face meeting. “There are ways right now to move forward the agenda, but again we understand the Covid-19 in Japan is very serious...so in the right time once the opportunity presents itself if not via telesummit, through a phone call,” Borje said. The Japanese government is currently considering declaring a state of emergency in several parts of Japan to address its growing number of infections.

try for human use are in topical formulations under prescription use only, saying this is used for the treatment of external parasites such as head lice and skin conditions such as rosacea. The FDA said the registered oral and intravenous preparations of Ivermectin are veterinary products, which are approved for use in animals for

the prevention of heartworm disease and treatment of internal and external parasites in certain animal species. The agency reiterated that the Ivermectin has not been approved for treatment of any viral infection.

Clear guidelines

AMID debates on the use of Ivermectin

for treating Covid-19, Speaker Lord Allan Velasco and Deputy Speaker Bernadette Herrera filed House Resolution 1711, calling for an inquiry into the policies and guidelines of the Department of Health and the FDA for the registration, utilization, manufacture, distribution or sale of drug products for Covid-19. Jovee Marie N. Dela Cruz

A4 Friday, April 23, 2021 • Editor: Vittorio V. Vitug

Economy BusinessMirror

www.businessmirror.com.ph

Peza to assist Covid-19 jab procurement of locators

PhilFida abaca road map proposes P20-B budget to raise fiber yield to 177,189 MT T By Jasper Emmanuel Y. Arcalas @jearcalas

ANKROLLING various interventions aimed at hiking the country’s abaca output to 177,189 metric tons (MT) by 2025 would require a total budget of nearly P20 billion, according to a draft road map prepared by the Philippine Fiber Industry Development Authority (PhilFida). Based on the road map presented by PhilFida during its recent public consultation, the government plans to nearly triple the current abaca output of 61,492 MT over the course of five years. The draft blueprint showed that the government aims to expand effective abaca hectarage to 154,427 hectares (has) from the current 89,627 has. Furthermore, the PhilFida, an attached agency of the Department of Agriculture, eyes to more than double the current yield of 800 kilograms per hectare to 2,000 kilo-

grams per hectare. During the public consultation, PhilFida Executive Director Kennedy T. Costales emphasized that there is a need to boost the local industry’s supply due to worsening shortage of abaca fiber on the back of rising demand. Costales said the total demand deficit of abaca fiber today has reached an “all-time high” of about 150,000 MT, which is equivalent to 80,000 has of abaca farm, as the world requires more renewable and sustainable raw materials. “A progressive Philippine abaca industry supplying the world’s best quality fiber, meeting global demand for renewable, sustainable and environment-friendly products to achieve the country’s inclusive growth,” the draft blueprint read. Costales said the latest abaca industry road map has “identified the potential areas intended for planting and treatment of diseases, which are the two most important factors in abaca fiber production.” The BusinessMirror earlier

reported that the country’s abaca output last year fell to a seven-year low of 61,492 MT due to movement restrictions imposed by the government to stop the spread of Covid-19 coupled with the devastation caused by Typhoon Rolly (international code name Goni). (Related story: https://businessmirror. com.ph/2021/03/08/phl-abaca-output-falls-to-7-year-low/)

Targets, budgetary requirements

FOR this year, PhilFida is hoping for a rebound of the local industry as it is target a total production output of 73,509 MT, which is nearly 20 percent higher than last year’s total production. Likewise, PhilFida aims to expand effective abaca areas this year by 2.6 percent to 91,927 hectares from last year’s 89,627 hectares. For 2021, the PhilFida has a total budget of P192.689 million, with bulk of which or about P104.487 million, allocated for programs dedi-

cated to increase fiber production, such as area expansion, area rehabilitation, disease management, and capacity building of farmers. The draft abaca industry road map showed that PhilFida would need a total budget of P19.799 billion to sustain various interventions starting 2022 until 2025 to achieve its production and hectarage targets. The road map indicated that PhilFida needs P2.545 billion next year, P3.004 billion in 2023, P7.631 billion in 2024 and P6.617 billion in 2025. For the years 2022 to 2023, bulk of their proposed budgetary requirements would go to increasing abaca fiber production (P1.495 billion in 2022 and P2.279 billion in 2023). By 2024 until 2025, the agency would focus more on the establishment of processing facilities and equipment (P6.366 billion for 2024 and P6.367 billion for 2025), based on the draft road map. By the end of 2025, the PhilFida said it expects an additional income for the industry of P53.02 billion.

HE Philippine Economic Zone Authority (Peza) extends help in purchasing Covid-19 vaccines for company locators and offers tax-free importation of the doses. Peza Director General Charito Plaza said in a news statement issued on Thursday that the regulator serves as an “enabler” in the vaccine procurement by its locators as the country continues to struggle with the impact of the pandemic. “We can help facilitate the locators’ purchase of vaccines on a per ecozone basis for ease of administration and subject to strict compliance with Covid-19 vaccination protocols,” Plaza said. She noted that locators may choose their own supplier and administrator of vaccines. However, Plaza said that Peza is “not in a position to subsidize the cost or advance payment of vaccines for and on behalf of the locators.” Peza Deputy Director General for Policy and Planning Tereso Panga, meanwhile, said that the regulator of ecozones can provide “the allowance of tax and duty-free importation [for Covid-19 vaccines] subject to the lifting of the EUA

[emergency use authorization].” Panga said the same relief was offered by the Peza board last year for the importation of personal protective equipment and Covid-related equipment for locators’ direct use. “The best Covid-19 vaccine is the one that is readily available. Either you get infected or vaccinated, the choice is yours,” Panga added. Peza said that its ecozone vaccination program could contribute to attaining herd immunity, which can help further reopen the economy. The regulator currently manages 410 economic zones across the Philippines with 4,643 locator companies. This week, Peza hosted an online forum with experts from the Department of Health and potential suppliers from the private sector to inform the export-oriented registered companies about the procurement of Covid-19 doses. “The Peza management initiated this dialogue upon the request of our ecozone locators for Peza to take the lead in getting the right resource persons to educate us about the procurement of Covid-19 vaccines and their safety,” Plaza said. Tyrone Jasper C. Piad

DENR: Accelerate climate action and sustainability with digital technology

OVERNMENT and private sector environmental advocates urged the adoption of digital technologies to transform industries and government bureaucracies into sustainable enterprises. In the recently held virtual Earth Day forum organized by Stratbase Albert del Rosario Institute (ADRi) and Philippine Business for Environmental Stewardship (PBEST), DENR

Undersecretary for Finance, Information Systems and Climate Change Atty. Analiza Rebuelta-Teh said, “We can really look at information communication technology so that we can accelerate our climate action.” “ICT is very relevant in climate monitoring. Information pertaining to climate, weather, precipitation, pollution and disasters is critically important in understanding climate change and its

impact on the environment,” Teh said. Philippine Business for Environmental Stewardship convener Dr. Carlos Primo David pointed out, “Businesses possess the same characteristics that are required to solve environmental and societal problems, such as being more efficient, using monitoring and evaluation tools, key performance indicators, putting in risk management processes, and, most im-

portantly, embracing technology and innovation in the process.” “We encourage the private sector to further expand their sustainability efforts, work with the government, and directly address the sustainability of the country and of the entire planet,” David said. In the same forum, Globe Telecom Senior Vice President for Corporate Communications and Chief Sustain-

ability Officer Ms. Yoly C. Crisanto said, “As a catalyst for developing the economy, we are for digitalization and transformation of industries.” “Globe has been leading in the digital transformation through its various products like GCash, Konsulta MD, Tele health, telemedicine. Stakeholder engagement in terms of our management systems is now a more systemic approach,” Crisanto said.

Stratbase ADRi President Prof. Dindo Manhit said, “The synergy of good policy, all-sectoral cooperation, and innovative technologies will create a sustainable economic culture that will build inclusive prosperity by responsibly harnesses our natural resources, effectively controlling pollution, integrating energy-efficient infrastructures, and administered under good governance and upright social values.”

Lawmakers revive push to classify MCTs as PUVs By Jovee Marie N. Dela Cruz @joveemarie

MID an uptick in demand for efficient public transport and livelihood during the Covid-19 pandemic, Congress has renewed its push for the immediate passage a bill allowing motorcycle taxis (MCTs) as public-utility vehicles (PUVs). During a technical working group hearing last Monday, lawmakers and concerned stakeholders called for the expedited resolution of the proposed motorcycle taxi law as serious delay affects public transport and livelihood. The Department of Transportation (DOTr) presented a summary of findings during the last pilot run but it was revealed that the study still lacked data to be comprehensive for the third technical working group (TWG). But lawmakers said further delays only led to the proliferation of more unsafe mo-

torcycle-like vehicles like the habal-habal due to public demand. TWG Chairman Rep. John Reynald Tiangco of Navotas City cited the scarcity of a reliable public transport system and the advancement of technology as the factors that drew attention again to MCTs. He said that the “motorcycle helped in addressing the transport gap in Metro Manila in the absence of viable solutions to our public transportation problem.” This same solution can be applied to other parts of the country, which had been aggravated by the pandemic. As Puwersa ng Bayaning Atleta Party-list Rep. Jericho Nograles also said, “there is an inordinate delay in the clear implementation of the service and now, more than ever, people need the government to act. While balance must be achieved on safety and convenience, the trial period is already over-extended and clear policies must be in place.” Iloilo Rep. Julienne Baronda and Manila

Rep. Cristal Bagatsing also called for urgency in the consolidation of the measure. Bagatsing said the pilot studies provided enough data and collective experience on the ground from operators, which could enable Congress to come up with a bill and pass legislation. While acknowledging that transport safety is a major concern to passing the motorcycle taxi law, Angkas Chief Transport Advocate George Royeca expressed confidence that safety regulations, public sector compliance of public health guidelines, and innovations like the Inter-Agency Task Force for the Management of Emerging Infectious Disease (IATF)-approved shield have proven that motorcycle taxis can give the public the service they need while reducing the chances to virus transmission. “We’ve come so far. With the pandemic, it has been a challenge for us. Working with the IATF, we were able to come up with guidelines to make it safe,” he said.

Get yourselves vaccinated against Covid-19, DepEd personnel told By Claudeth Mocon-Ciriaco Correspondent

HE Department of Education (DepEd) has called on its eligible personnel who belong to higher priority groups to get vaccinated themselves as they can register already for vaccine shots ahead of the rollout for the A4 priority category. “We would like to encourage all of our personnel to coordinate with their local government units so they can be vaccinated against Covid-19. This will play a huge role in our bid for our learners’ return to school,” said Education Secretary Leonor Magtolis Briones. In the issuance released by the DepEd Task Force Covid-19 (DTFC), the DepEd reminded all of its personnel who are part of higher priority groups, such as school health staff, senior citizens, and persons with comorbidities to register. The largest government agency hopes to start vaccinating the rest of its teaching and non-teaching personnel by June 2021 after the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF) approved the appeal of Briones to adjust the vaccine prioritization for

I am encouraging everyone to be proactive in learning about the vaccine and the vaccination program, and to make an informed choice about the matter. Education Secretary Leonor Magtolis Briones

teaching and non-teaching personnel from Category B1 to A4. A4 group is next in line in the government vaccination priority list, after A1 (medical frontliners), A2 (senior citizens), and A3 (with comorbidities). Meanwhile, Briones also strongly appealed to DepEd personnel to rely on credible and official sources such as the Department of Health (DOH) and local government unit (LGU) web sites and social-media accounts for accurate information about the Covid-19 pandemic, vaccines, and vaccination program. “I am encouraging everyone to be proac-

tive in learning about the vaccine and the vaccination program, and to make an informed choice about the matter,” she said, highlighting the education sector’s important role to be advocates of vaccination. Vaccine recipients are also requested to note their vaccination details, including the registration and the vaccination card for documentation and monitoring purposes within DepEd, and to strictly follow required health standards before, during, and after the immunization. In its policy, DepEd will also work closely with the LGUs and concerned agencies to establish its own vaccination database.

www.businessmirror.com.ph

Restore the Earth A BusinessMirror Special Feature

Friday, April 23, 2021

Restoring the Earth through teamwork E

VERY April 22, the world celebrates Earth Day, a day for countries to demonstrate their support for environment friendly practices. First established in the 1970s as an activist response to a massive oil spill in California, it has since become a day to remind people of the damage that they have done on the planet. With the theme “Restore Our Earth.” this year’s Earth Day continues in that spirit of awareness, but also carries with it hope and optimism. “At the heart of Earth Day’s 2021 theme, Restore Our Earth, is optimism, a sentiment that is critically needed in a world ravaged by both climate change and the pandemic," said Kathleen Rogers, president of EarthDay.org. "This year, we are also supporting local communities and areas that are disproportionately affected by environmental issues," she added, referring to the theme’s focus on restoring the world’s ecosystems through natural processes, emerging green technologies and innovative thinking.

Sustainablity

LAST month, Philippines Graphic, in partnership with COOK Magazine and the BusinessMirror, hosted a live webinar that promoted sustainability through plastic waste recycling. Titled "Possibilities for a Brighter Future: Achieving Zero Waste by 2030,” the webinar primarily focused on initiatives the Philippines has undertaken to curb waste and climate change. According to Commissioner Crispian Lao of the National Solid Waste Management Commission (NSWMC), while the Philippines’ consumption of single use plastics is lower compared to its neighbors, the country is the third largest polluter of the oceans.

Basketball team

Out of the country’s 44,000 tons of solid waste produced, 52% of it is recyclable. However, most of these are thrown out to landfills instead. Given this information, the NSWMC was able to partner with the Department of Natural Resources (DENR) and the Department of Health (DOH) to recover residual waste and manage existing litter. While the Philippines’ Solid Waste Management Act of 2000, or Republic Act 9003, is one of the most “comprehensive” laws, its objective has not yet been realized due to a lack of infrastructure. “We have one of the most beautiful and comprehensive waste management laws, and the basic objective of the law is to convert our waste into resources, and to ensure that only waste that cannot be composted or recycled go to the landfills,” he remarked. “The barangay is supposed to be in charge of the biodegradable waste and the city’s mandate is to only collect residual waste and special waste,” he added.

Lack of infrastructure

“Unfortunately, because of the lack of infrastructure here in the Philippines, it gets mixed. And even if we segregate at home, when the garbage collector collects it, it collects everything,” he added. While reducing plastic consumption is a great help, particularly in reducing the waste that goes into oceans, the plastics, and not the persons threw aways these plastics, are being blamed for the current situation, “Blaming plastics has become a band-aid solution, why would you blame the plastic when there are other factors that made the plastic reach the waters,” said Bert Guevara, Vice President of the Philippine Alliance for Recycling and Materials Sustainability (PARMS). For both speakers, they believe this phe-

PLASTICS are the greatest polluter of the Earth.

nomenon is largely due to confusion, a lack of avenues where people can bring their recyclables, and not enough cooperation between public and private sectors.

Circular economy

ONE way of approaching the matter is shifting from a linear form of economy to a circular one. This is defined by Lao as “making full use of the resources and putting it back in the system.” By converting trash to resources through activities

such as composting, designing packagings to be more recyclable and proper waste segregation, trash suddenly becomes more valuable as it is reused or recycled in many different ways. From using trash as compost for farms and gardens or converting single use plastics into furniture, people will be able to reduce the amount of waste that is dumped in landfills or oceans. They will instead be encouraged to find ways of repurposing plastics and other nonbiodegradable waste.

UNSPLASH.COM

By Stephanie Joy Ching

This approach is also in line with the idea of building a regenerative economy, which has recently been touted by many environmentalists as an alternative goal to sustainability. Like what Lao described, regenerative practices focus on a circular relationship with the environment, where it is a constant give and take between parties. According to Daniel Christian Wahl, author of “Designing Regenerative Cultures,” this type of economy supports “win-win-win solutions” that serve “both people and the planet.”

HOWEVER, for a regenerative economy to work, the different sectors of the community must be on the same page and work together towards a common goal. “Right now, there’s very little cooperation, each sector is trying to solve the problem on their level. Even here in Metro Manila, it is noticeable that the MMDA sometimes has a different program compared to the DENR and local government units. We want to change that and approach it as a team,” said Guevara. He likens the idea of the different sectors working together to a basketball team, and just like any team, it needs a coach. This is where PARMS comes in. As an alliance that is composed of people from the different sectors, PARMS aims to “bridge the disconnections in recycling”, from the homeowners to the big corporations. In addition to proper segregation, PARMS hopes to introduce the idea of a “recovery and recycling center” where waste recovered from communities can be matched with their “best values and incentives” along with having updated recycling and upcycling technologies. The remainder of the waste can be transported to either a recycling or disposal facility. In this manner, it can be ensured that the value of the trash is properly utilized and can re-enter the system in one form or another. Additionally, these centers can also offer education programs to people so they can raise awareness about the importance of recycling. Through this, PARMS hopes that people will no longer just try to do their own things and instead look to each other for help and support to save the planet. “Everyone is trying to become the superhero, and that’s what is messing up RA 9003. We don't need superheroes, we need a team,” he said.

Globe joins global mobile industry in celebrating Race to Zero milestones

SMA, the association of mobile operators worldwide, released the “Mobile Net Zero – State of the Industry on Climate Action 2021” report on Tuesday, April 21, 2021 -- the first of what will be an annual report on how the mobile industry is doing against its target. Globe joins in celebrating the milestones achieved by the Race to Zero campaign, an initiative spearheaded by the United Nations Framework Convention on Climate Change (UNFCCC) with the COP26 Presidency and backed by the GSMA, the global mobile industry body. In the report, the mobile sector is recognized as one of the first sectors to achieve Breakthrough Sector status. Industries achieve Breakthrough Sector status when 20 percent of the key players within the sector commit to the transformation, consistent with climate action pathways. So far, mobile operator groups representing 31 percent of global mobile connections and 36 percent of global mobile revenue have committed to zero targets by 2050 or earlier. Also, operators with sciencebased carbon reduction targets now account for 50 percent of mobile connections and 65 percent of industry revenues globally. “As one of the global mobile operators which supports the call for zero carbon emission, we are proud to be part of this achievement. To realize large-scale positive impact on the environment, we recognize the need for every organization to work together to ensure a low carbon future,” said Ernest Cu, Globe President and CEO. To show its commitment to the net zero target, Globe was among the first 50 mobile operators in the world to take action on carbon disclosures and to manage the impact of its operations on the environment. The company is also a signa-

tory to the “Statement from Business Leaders for Renewed Global Cooperation” participated in by over 1,200 private companies from 100 countries which demonstrates the company’s commitment in upholding the United Nations Global Compact (UNGC) principles and the UN Sustainable Development Goals (UN SDGs). Globe continues to decarbonize its operations by enhancing clean energy procurement from renewable energy plants. To date, Globe’s corporate headquarters in Taguig City and six corporate offices and key facilities in Makati, Quezon City, Tarlac, and Cebu run on renewable sources of energy through power purchase agreements with renewable energy suppliers. The Globe Tower is a LEED Gold Certified building which serves as a drop-off location for the company’s e-Waste Zero disposal and recycling program and also has a rainwater collection system that feeds into a nonpotable recycling system reused for restroom water closets, urinals, and garden maintenance. So far, the Ayala-led telco has deployed almost 8,800 green network solutions such as fuel cell systems, direct current hybrid generators, free cooling systems, and lithium-ion batteries as part of its energy efficiency initiatives. Globe continues to implement an Environmental Management System (ISO 14001:2015) through the Integrated Management System across the organization that is audited and certified by BSI Singapore.

HOW is the #mobile industry doing against its ambitious #climate target? Download the report to find out more - https://www.gsma. com/betterfuture/mobilenetzero

n #Mobile operators covering 50% of global mobile connections and 65% of industry revenues have now committed to science-based targets. This new report is the first comprehensive analysis of how the #mobile industry is doing against its ambition #climate target. Download the report to find out more - https://www.gsma.com/betterfuture/mobilenetzero n31% of the #mobile industry by connection and 36% of the mobile industry by revenue have committed to net zero emissions by 2050 or earlier. This new report is the first comprehensive analysis of how the #mobile industry is doing against its ambition #climate target. Download the report to find out more - https://www.gsma.com/betterfuture/mobilenetzero n60 #mobile operators providing 69% of the world’s mobile connections and 80% of revenue disclosed their climate impacts. This new report is the first comprehensive analysis of how the #mobile industry is doing against its ambition #climate target. Download the report to find out more - https://www. gsma.com/betterfuture/mobilenetzero

It also supports the Task Force on Climate-Related Financial Disclosure that serves as the foundation of Globe’s strategy on climate change. All these are part of Globe’s commitment to the United Nations Sustainable Development Goals such as UN SDG No. 12—Sustainable Consumption and Production—which is about achieving economic growth and sustainable development by urgently reducing ecological footprint. It is also about decoupling economic growth from environmental degradation, increasing resource efficiency and promoting sustainable lifestyles by changing the way people produce and consume goods and resources; and SDG No. 13 - Climate Action which is to take urgent action to combat climate change and its impacts. Learn more about how the mobile industry is doing its part towards Net Zero Emissions by 2050 by reading the GSMA Mobile Net Zero – State of the Industry on Climate Action 2021 report. You may access the report by going to https://www.gsma. com/betterfuture/mobilenetzero. To know more about Globe, visit www.globe.com.ph.

Friday, April 23, 2021

The World BusinessMirror

India reports global record of 314,000 new Covid cases

Singapore quarantines hundreds after dorm workers test positive

was closed in October after no new cases were found there for 28 days, according to Channelnewsasia.

Hospital staffs transfer the body of a Covid-19 patient on a stretcher to a waiting ambulance at a specialized Covid-19 hospital in Noida, a suburb of New Delhi, India on April 21. AP/Altaf Qadri

frustrating to not be able to help them. In the last week, three patients of mine have died at home because they were unable to get beds. As a doctor, it’s an awful feeling,” Gururaj said. Yogesh Dixit, a resident of northern Uttar Pradesh state, said earlier this week that he had to buy two oxygen cylinders at 12,000 rupees ($160) each, more than twice the normal cost, for his ailing father because the state-run hospital in Lucknow had run out of supplies. He bought two “because the doctors can ask for another oxygen cylinder at any time,” he said, adding that he had to sell his wife’s jewelry to meet the cost. The main cremation ground at Lucknow, the state capital, received nearly 200 bodies on Sunday. Shekhar Chakraborty, 68, described the scene: “The bodies

were everywhere, they were being cremated on sidewalks meant for walking. I have never seen such a flow of dead bodies in my life,” he said. In Kanpur, another city in Uttar Pradesh state, 35 new temporary platforms have been set up on Bithoor-Sidhnath Ghat stretch along Ganges River to cremate bodies. The Health Ministry said that of the country’s total production of 7,500 metric tons (8,300 US tons) of oxygen per day, 6,600 metric tons (7,275 US tons) were being allocated for medical use. It also said that 75 railroad coaches in the Indian capital have been turned into hospitals providing an additional 1,200 beds for Covid-19 patients. The Times of India newspaper says that the previous highest daily case count of 307,581 was reported in the US on January 8. AP

New Zealand says Five Eyes security alliance remains strong

ELLINGTON, New Zealand—New Zealand said Thursday it continues to have a close and productive relationship with the US and other security allies, despite resisting speaking out in unison with them against China on certain human rights issues. New Zealand Foreign Minister Nanaia Mahuta discussed her reluctance to expand the role of the Five Eyes intelligence-sharing alliance to include stances on human rights. The alliance among New Zealand, the US, the UK, Australia and Canada dates to World War II. Some observers have speculated

that the differing approaches have exposed cracks in the alliance and that New Zealand is not being tough enough with China. Last year, for instance, New Zealand declined to sign a joint declaration by the other Five Eyes members condemning China’s national security legislation in Hong Kong. New Zealand did, however, separately express its concerns. Mahuta’s comments Thursday came after she met with her Australian counterpart Marise Pay ne at the f irst high-level summit since the two countries opened a quarantine-free travel bubble this week. The meeting

came ahead of a planned visit by Australian Prime Minister Scott Morrison next month. Mahuta said New Zealand values the Five Eyes relationship and receives significant benefits from it. But she said Five Eyes was about security and intelligence. “And it’s not necessary all the time on every issue to invoke Five Eyes as your first port-of-call in terms of creating a coalition of support around particular issues, in the human rights space, for example,” Mahuta said. Payne said that as liberal democracies, the Five Eyes partners shared many common values and approaches to international issues

China administers 200 million vaccine doses domestically

EIJING—Around 200 million doses of Covid-19 vaccine have been administered so far inside China, with an emphasis on front-line workers, university students and people living in border areas, health officials said. China is ramping up vaccination efforts after a slow start that was due in part to the virtual elimination of domestic transmission of the coronavirus. Just two local cases were reported on Wednesday, both in the city of Ruili, which borders on Myanmar. Just six new cases were reported on Thursday, all of them imported, while testing continued in Ruili, where China’s latest outbreak appears to have been contained. China has approved five domestically produced vaccines and exported millions of doses, although some scientists believe they provide less protection that those by Pfizer, Moderna and AstraZeneca. The Chinese vaccines have an efficacy range of 50.7 percent to 79.3 percent, based on company data, lower than their foreign peers but still effective. The vast majority of vaccines being

administered in China require two doses, while smaller numbers of vaccines requiring just one dose or three doses are also available. It wasn’t immediately clear how many people were now fully vaccinated with all their required doses. “At present, vaccination efforts in key areas and key population groups are progressing smoothly overall,” Cui Gang, an official with the Center for Disease Control, told reporters at a news conference Wednesday. Already, 80 percent of workers in the health sector have received at least one injection of vaccine, Cui said. Cities across China have been reporting shortages with some people saying they could not get an appointment to get a second dose, National Health Commission spokesman Mi Feng said. Health officials acknowledged the difficulties and said local governments should aim to make sure the second shot of the two-dose vaccines was provided within eight weeks. China is giving millions of shots a day, and its goal is vaccinating 560 million of the country’s

1.4 billion people by mid-June. China locked down the city of Wuhan for more than two months starting in January 2020 after the coronavirus was first detected there in late 2019. Wuhan became known as the epicenter of the pandemic, although Beijing has suggested the virus might have been circulating earlier and possibly brought to China from abroad. Since then, China has controlled the virus through stringent border controls and quick lockdowns whenever new outbreaks crop up. Mask wearing indoors remains almost universal and contact-tracing applications must be shown at most shops, offices and public buildings. While China was the first major economy to throw off the effects of the virus, the restrictions are seen as limiting its further growth, particularly as Beijing readies to welcome tens of thousands of visitors as host of the Winter Olympics in February 2022. Along with the sheer scale of the vaccination effort, authorities need to convince a population that largely no longer feels threatened by infection. AP

the deals if he won elections next year, welcomed the federal government’s decision. O’Brien, who belongs to the same conservative Liberal Party as the foreign minister, said the Victorian government had “given away major infrastructure contracts to Chinese-owned companies” under one deal. “In return, the Chinese government has smashed our farmers with tariffs on barley. They have smashed our wine exporters with trade sanctions,” O’Brien said. Observers have described the Victorian deals as vague and nonbinding. Some suspect their value to the Chinese Communist Party was to exploit differences in opinion in Australia over “Belt and Road” deals, which critics argue can create debt traps for poor countries. Australian Defense Minister Peter Dutton said his government would not allow the Chinese Communist Party to use such deals with Australian states as “propaganda.” “Our problem is with the values or the virtues or the outlook of the Chinese Communist Party,” Dutton said. T he par t y had militar ized ports in the Asia-Pacific region and Australian security agencies had reported an increased level of foreign interference across the region, he said. “We’re worried about cyberattacks and we’re worried obviously about state governments that enter into compacts with the Communist Party against our national interests,” Dutton said. “We can’t allow these sort of compacts, these sort of arrangements and friendships to pop up because they’re used for propaganda reasons and we’re just not going to allow that to happen,” he added. China imposed formal and informal trade restrictions on some Australian exports last year including coal, barley, beef, wine, cotton, lobsters and wood. Credit rating agenc y Fitch Ratings said the economic codependence between Australia and China would restrain Chinese policymakers from restricting Australia’s most lucrative export, iron ore. China needs Australian iron ore and reducing its supply could hurt Chinese jobs and growth, the agency said. “We expect any further punitive trade measures imposed by China to target Australia’s smaller export categories,” Fitch Ratings said. Due to booming iron ore prices, Australian exports to China fell by only 2 percent in value in the last six months of 2020, compared to the same period a year earlier, the government says. Excluding iron ore, Australian exports to China would have fallen by 40 percent, officials said. AP

India’s Health Minister Harsh Vardhan said on Thursday that “ demand and supply is being monitored round the clock.” He said in a tweet that to address the exponential spike in demand, the government has increased the quota of oxygen for the worst hit seven states. Lockdowns and strict curbs have brought pain, fear and agony to many lives in New Delhi and other cities. In scenes familiar across the country, ambulances are seen rushing from one hospital to another, trying to find an empty bed. Grieving relatives are lining up outside crematoriums where the arrival of dead bodies has jumped several times. “I get numerous calls every day from patients desperate for a bed. The demand is far too much than the supply,” said Dr. Sanjay Gururaj, a doctor at Bengaluru-based Shanti Hospital and Research Center. “I try to find beds for patients every day, and it’s been incredibly

Australia cancels China deals on national interest grounds

A NBER R A , Austra lia— Australia has cancelled two Chinese “Belt and Road” infrastructure building initiative deals with a state government, provoking an angry response from Beijing. The bilateral deals with Victoria state were among four vetoed under new laws that give the federal government power to overrule international agreements by lower-level administrations that violate the national interest, Foreign Minister Marise Payne said late Wednesday. The “Belt and Road” deals struck with Beijing in 2018 and 2019 triggered the legislative response. Victoria Education Department pacts signed with Syria in 1999 and Iran in 2004 were also canceled. “I consider these four arrangements to be inconsistent with Australia’s foreign policy or adverse to our foreign relations,” Payne said. The Chinese Embassy in Australia said in a statement the decision “further shows that the Australian government has no sincerity in improving China-Australia relations.” “It is bound to bring further damage to bilateral relations, and will only end up hurting itself,” the embassy said on Thursday, referring to the Australian government. The Global Times, a mouthpiece of the Chinese Communist Party, said in a headline: “Australia faces serious consequences for unreasonable provocation against China.” The move “marks a significant escalation that could push icy bilateral relations into an abyss,” the newspaper added. Australia’s bilateral relations with its most important trading partner are at their lowest point in decades. Chinese government ministers refuse to take phone calls from their Australian counterparts, and trade disruptions are widely seen as China imposes economic punishment. But Payne said Thursday she did not expect China to retaliate. “Australia is operating in our national interests. We are very careful and very considered in that approach,” Payne said. “It’s about ensuring that we have a consistent approach to foreign policy across all levels of government, and it isn’t about any one country,” she said. “It is most certainly not intended to harm Australia’s relationships with any countries.” Victoria’s center-left Labor Party government said the Foreign Relations Act, under which the deals were cancelled, was a matter for the federal government. The law came into effect in December. “ The Victorian government will continue to work hard to deliver jobs, trade and economic opportunities for our state,” the statement said. Victoria’s opposition leader Michael O’Brien, who vowed to scrap

EW DELHI—India reported a global record of more than 314,000 new infections on Thursday as a grim coronavirus surge in the world’s second-most populous country sends more and more sick people into a fragile health-care system critically short of hospital beds and oxygen.

The 314,835 infections added in the past 24 hours raise India’s total past 15.9 million cases since the pandemic began. It’s the secondhighest total in the world next to the United States. India has nearly 1.4 billion people. Fatalities rose by 2,104 in the past 24 hours, raising India’s overall death toll to 184,657, the Health Ministry said. A large number of hospitals are reporting acute shortages of beds and medicine and are running on dangerously low levels of oxygen. The New Delhi High Court on Wednesday ordered the government to divert oxygen from industrial use to hospitals to save people’s lives. “You can’t have people die because there is no oxygen. Beg, borrow or steal, it is a national emergency,” the judges said responding to a petition by a New Delhi hospital seeking its intervention. The government is rushing oxygen tankers to replenish supplies to hospitals.

Editor: Angel R. Calso • www.businessmirror.com.ph

through an era of greater strategic competition in the region. S he s a id cou nt r ie s wou ld choose to address issues of concern in whichever forum they found appropriate, but that the respect among the Five Eyes partners remained “enduring and continuing.” Payne said Australia continued to pursue cooperation with China when it was in Australia’s interests. “But we also have to acknowledge that China’s outlook, and the nature of China’s external engagement, both in our region and the world, has changed in recent years.” AP

ingapore has discovered more virus cases in a foreign worker dormitory that was within the epicenter for the Covid-19 outbreak in the country last year, raising concerns about reinfections as most of the laborers had previously tested positive. To stop the potential spread, more than 1,100 people living in the same block as the infected workers will be sent to a government quarantine facility for 14 days, Channelnewsasia reported, citing a letter signed by the dormitory’s manager to clients. T he gover nment sa id a 35-year-old Bangladeshi migrant worker staying at the dormitory in northern Singapore tested positive for the virus earlier in the week, despite having received both doses of vaccine. Virus testing was then conducted

on all residents at the dormitory as a precaution, and the 10 other workers were isolated and transported to a government hea lth facilit y to investigate for possible re-infection. One person under quarantine, who is a roommate of the 35-yearold worker, was found to be Covid-19 positive at a dedicated quarantine facility. Both the health and manpower ministries are currently investigating the cases. This development comes after many weeks of almost zero new cases among the laborers and thousands of them getting vaccinations. T he workers are f rom t he Westlite Woodlands dormitory, located on the far north side of Singapore. The dormitory first reported a cluster of virus cases in April last year but this cluster

Reinfection concerns

Last year, Singapore confined hundreds of thousands of workers to their dormitories to prevent an outbreak in their ranks from spreading across the island. Though Singapore has largely managed to control the pandemic, and has one of the fastest vaccination rates in Asia-Pacific, concerns of reinfection are growing as new virus variants emerge and global cases tick up. Singapore is reviewing border controls for travelers who recovered from the virus. The country and Hong Kong called off an announcement planned for Thursday on an air-travel bubble, according to people familiar with the matter, the second time in five months the highly anticipated arrangement for quarantine-free travel between the two financial hubs has run into obstacles. Bloomberg News

www.businessmirror.com.ph

The World BusinessMirror

Syrian missile lands in Israel, triggers Israel military strike

ERUSALEM—A Syrian antia ircra f t missi le l a nded in southern Israel early Thursday, setting off air raid sirens near the country’s top-secret nuclear reactor, the Israeli military said. In response, it said it attacked the missile launcher and air-defense systems in neighboring Syria. It marked one of the most serious incidents of violence between Israel and Syria in years. However, Israeli media later described the Syrian missile as an “errant” projectile, not a deliberate attack deep inside Israel. Syria’s state news agency SANA said the exchange began with an Israeli air strike on Dumeir, a suburb of the capital of Damascus. Dumeir is believed to house Syrian army installations and batteries as well as bases and weapons depots belonging to Iran-backed militias. SANA said four soldiers were wounded. The Britain-based Syrian Observatory for Human Rights, an opposition war monitoring group based in Britain that tracks Syria’s civil war, said the Israeli strikes hit an air defense base belonging to the Syrian military and destroyed air defense batteries in the area. It said the Syrian military fired surface-to-air missiles in response. Syrian media made no mention of an anti-aircraft missile landing deep inside Israel. The Israeli military described the projectile that landed near the nuclear site as a surface-to-air

missile, which is usually used for air defense against warplanes or other missiles. That could suggest the Syrian missile had targeted Israeli warplanes but missed and flew off errantly. However, Dimona, the Negev desert town where Israel’s nuclear reactor is located, is some 300 kilometers (185 miles) south of Damascus, a long range for an errantly fired surface-toair missile. The Israeli army said it had deployed a missile defense system but could not confirm if the incoming missile was intercepted, though it said there had been no damage. The air raid sirens were sounded in Abu Krinat, a village just a few kilometers (miles) from Dimona. Explosions heard across Israel might have been the airdefense systems. The military said that in response to the incoming missile, it launched an air strike at the battery that launched the anti-aircraft missile and other surface-to-air batteries in Syria. The exchange between Israel and Syria comes against the backdrop of growing tensions between Israel and Iran, a key ally of Syria. Iran, which maintains troops and proxies in Syria, has accused Israel of a series of attacks on its nuclear facilities, including sabotage at its Natanz nuclear facility on April 11, and vowed revenge. It also threatened to complicate US-led attempts to revive the international nuclear deal with Iran. AP

Putin vows ‘quick and tough’ Russian response for its foes

OSCOW—President Vladimir Putin on Wednesday sternly warned the West against encroaching further on Russia’s security interests, saying Moscow’s response will be “quick and tough” and make the culprits bitterly sorry for their action. The warning during Putin’s annual state-of-thenation address came amid a massive Russian military buildup near Ukraine, where cease-fire violations in the seven-year conflict between Russia-backed separatists and Ukrainian forces have escalated in recent weeks. The United States and its allies have urged the Kremlin to pull the troops back. “I hope that no one dares to cross the red line in respect to Russia, and we will determine where it is in each specific case,”Putin said. “Those who organize any provocations threatening our core security interests will regret their deeds more than they regretted anything for a long time.” Moscow has rejected Ukrainian and Western concerns about the troop buildup, saying it doesn’t threaten anyone and that Russia is free to deploy its forces on its territory. But the Kremlin also has warned Ukraine against trying to use force to retake control of the rebel-held east, saying Russia could be forced to intervene to protect civilians in the region. “We really don’t want to burn the bridges,” Putin said. “But if some mistake our good intentions for indifference or weakness and intend to burn or even blow up those bridges themselves, Russia’s response will be asymmetrical, quick and tough.” As Putin spoke, a wave of protests started rolling across Russia in support of imprisoned opposition leader Alexei Navalny, and a human rights group said nearly 1,500 people were arrested. Thousands marched in central Moscow, where police blocked off a square next to the Kremlin. Police in St. Petersburg blocked off Palace Square, outside the Hermitage museum, and protesters instead massed along Nevsky Prospekt. The politician, who is Putin’s most persistent critic and was poisoned with a chemical nerve agent last year, started a hunger strike three weeks ago to protest what he said was inadequate medical treatment and officials’ refusal to allow his doctor to visit him. His supporters called the rallies as his health reportedly is in severe decline. In his speech, Putin pointed to Russia’s moves to modernize its nuclear arsenal and said the military would continue to build more state-of-the-art hypersonic missiles and other new weapons. He added that the development of the nuclear-armed Poseidon underwater drone and the Burevestnik nuclearpowered cruise missile is continuing successfully. In an apparent reference to the US and its allies, the Russian leader denounced those who impose “unlawful, politically motivated economic sanctions and crude attempts to enforce its will on others.” He said Russia has shown restraint and often refrained from responding to “openly boorish” actions by others. The Biden administration last week imposed new sanctions on Russia for interfering in the 2020

US presidential election and for involvement in the SolarWind hack of federal agencies—activities Moscow has denied. The US ordered 10 Russian diplomats expelled, targeted dozens of companies and individuals, and imposed new curbs on Russia’s ability to borrow money. Russia retaliated by ordering 10 US diplomats to leave, blacklisting eight current and former US officials, and tightening requirements for US Embassy operations. “Russia has its own interests, which we will defend in line with the international law,” Putin said during Wednesday’s address. “If somebody refuses to understand this obvious thing, is reluctant to conduct a dialogue and chooses a selfish and arrogant tone, Russia will always find a way to defend its position.” In an emotional outburst, Putin chastised the West for acquiring a defiant stance toward Russia. “Some countries have developed a nasty habit of bullying Russia for any reason or without any reason at all. It has become a new sport,” he said. In an apparent reference to the US allies, he compared them to Tabaqui, a cowardly golden jackal kowtowing to Shere Khan, the tiger in Rudyard Kipling’s “Jungle Book.” “They howl to please their lord,” he said. Russia this week engaged in a tense tug-of-war with the Czech Republic, following Prague’s move to expel 18 Russian diplomats over a massive Czech ammunition depot explosion in 2014. Moscow has dismissed the Czech accusations of its involvement in the blast as absurd and retaliated by expelling 20 Czech diplomats. Putin also harshly criticized the West for failing to condemn what he described as a botched coup attempt and a failed plot to assassinate Belarus’ President Alexander Lukashenko, allegedly involving a blockade of the country’s capital, power cuts and cyberattacks. Belarusian and Russian security agencies arrested the alleged coup plotters in Moscow earlier this month. “The practice of organizing coups and planning political assassinations of top officials goes over the top and crosses all boundaries,” Putin said, drawing parallels to plots against Venezuelan President Nicolas Maduro and the popular protests that led to the ouster of Ukraine’s former Russia-friendly president, Viktor Yanukovych, in 2014. Russia responded to Yanukovych’s ouster by annexing Ukraine’s Crimean Peninsula and throwing its support to the separatists in the country’s east. Since then, fighting there has killed more than 14,000 people and devastated the industrial heartland. Putin dedicated most of his annual address to domestic issues, hailing the nation’s response to the coronavirus pandemic. He said the quick development of three coronavirus vaccines underlined Russia’s technological and industrial potential. He called for a quicker pace of immunizations, voicing hope the country could achieve collective immunity this fall. He put forward incentives to help the economy recover from the pandemic and promised new social payments focusing on families with children. AP

Friday, April 23, 2021

Danish prime minister: Climate dwarfs all geopolitical tensions

enmark’s Prime Minister Mette Frederiksen said international efforts to reduce carbon emissions must move forward, regardless of geopolitical tensions or disagreements in other areas. “If you try to put all sorts of other agendas on the same table, then I don’t think we’ll achieve the things we need to achieve globally,” Frederiksen said in an interview Wednesday when asked about negotiating with Russia or China. “We can easily, and I think that’s also the basis of the Paris Agreement, have disagreements in all kinds of areas and then you can have an agreement on climate, where you work together to reduce carbon emissions.” Frederiksen spoke on the eve of US President Joe Biden’s climate summit, which begins on Earth Day. To her point, President Vladimir Putin spoke of the need to modernize his country to reduce carbon emissions in his annual address, while at least 40,000 Russian soldiers moved toward Ukraine’s border. The US, China, Russia and the European Union have all signaled higher climate ambitions in the past week. On Wednesday morning, the EU agreed on a new set of criteria for green investments and to a legally binding climate emission reduction target of 55 percent for 2030. In his speech on Wednesday, Putin said Russia should have a lower cumulative

volume of net emissions than the EU over the next three decades, without detailing how to achieve the goal. Denmark was invited to Biden’s climate event to share its view on green solutions, the transition away from fossil dependence and the social effects of such a shift. “If the consequence of high climate ambitions is unemployment, social inequality and division among the population, we lose as much as we gain,” Frederiksen said. “We must insist that both things must be possible and on solving the task in a balanced and sustainable way, not only for the environment and climate but also in relation to social cohesion.” Denmark has made several milestone decisions in recent months to get closer to achieving its ambitious target to reduce carbon emissions by 70 percent no later than 2030 compared with 1990-levels. The country decided to end its oil production in the North Sea in 2050, and announced the construction of a 120,000 square-meter (30 acre) artificial island off its coast to support the future expansion of its offshore wind farms. The transition from fossil to

Mette Frederiksen, Denmark’s prime minister, speaks during the United Nations Climate Action Summit in New York on September 23, 2019. Denmark was invited to President Joe Biden’s climate event to share its view on green solutions. Bloomberg photo

green energy has been going on for more than 50 years in Denmark, which started to invest heavily in windmills in the 1970s. Frederiksen underlined the importance of focusing on job creation, when some industries have to make way for others. She highlighted the city of Esbjerg on the country’s Western coast, where most workers used to be employed in the oil industry. Today, most jobs are in offshore wind. “It’s crucial to explicitly include job creation as a part of the foundation for a country’s climate policies,” Frederiksen said. “The task is to show that ordinary people can have their living conditions improved both because of the climate and environmental benefits, but also in their work and everyday lives.” Tensions may still cloud talks

at the climate summit. The US has imposed fresh sanctions against Russia over the alleged interference in last year’s US election. And Russia’s troop movements are the most recent escalation of its war with Ukraine. The US has also imposed sanctions on European companies involved in building the Nord Stream 2 natural gas pipeline that runs 1,200 kilometers (750 miles) from Russia across the Baltic Sea to Germany. Denmark is against the natural gas link because it runs through its economic zone and increases the EU’s dependency on Russian energy. “It’s well known that the Danish government is against it,” Frederiksen said, adding that the issue should remain separate from any discussions on reducing pollution. Bloomberg News

California governor declares drought emergency in 2 counties

ACRAMENTO, California—Standing in the dry, cracked bottom of Lake Mendocino, Gov. Gavin Newsom declared a drought emergency Wednesday in two Northern California counties where grape growers and wineries are major water users, an order that came in response to arid conditions affecting much of the state and the US West. The declaration is targeted to Mendocino and Sonoma counties, where drought conditions are especially bad, rather than statewide, as some officials and farmers in the agricultural-rich Central Valley had hoped. But the Democratic governor said a broader drought declaration could come as conditions change. California, which is now in its second year of drought, is bracing for another devastating wildfire season after a winter with little precipitation. “Oftentimes we overstate the word historic, but this is indeed a historic moment, certainly historic for this particular lake, Mendocino,” Newsom said, standing where 40 feet (12 meters) of lake water was supposed to be. The lake is at about 40 percent of normal capacity. About three-quarters of the American West is in what is called a megadrought, with critical waterways like the Colorado River and Rio Grande that supply millions of people and farms expected to have dismally low flows this year. The White House on Wednesday announced the creation of a working group helmed by the Interior and Agriculture departments to address worsening drought conditions in the US West. Last week, hundreds of farmers who rely on a massive irrigation project spanning the Oregon-California border were told they’ll get a fraction of the water they need as federal regulators attempt to balance agriculture with threatened and endangered fish species central to the heritage of several tribes. In California, the two counties spotlighted by Newsom are part of the Russian River watershed, which is about 110 miles (177 kilometers) long. Lakes Mendocino and Sonoma are the primary sources of water for residents and commercial users like wineries, and together they provide water for about 600,000 people, said Grant Davis, general manager for Sonoma Water. Beyond the drought declaration in the two counties, Newsom’s executive order allows California to prepare for expected effects of the water shortage statewide more quickly. Though he did not declare a statewide drought emergency, the State Water Resources Control Board in March sent early warnings to 40,000 water rights holders urging them to start conserving. The board suggested that agricultural users reduce

irrigation and seek other water sources and that people in cities and towns put in drought-resistant landscaping and replace household appliances with water-saving ones. “If you’re in a different part of the state, you probably need to know that this will one day happen to you,” Karla Nemeth, director of the California Department of Water Resources, said of the drought declaration. The department says this is California’s fourthdriest year on record, especially in the northern two-thirds of the state. But Newsom said people in cities also are using 16 percent less water than they were at the start of the last major drought, which lasted from 2012 to 2016. That drought prompted then-Gov. Jerry Brown to impose broad restrictions on water use that affected nearly everyone in the nation’s most populated state. “We’ve barely been out of those drought conditions, and here we are entering back into these drought conditions,” Newsom said. Farmers and leaders in the agricultural Central Valley are still hoping for a statewide declaration. Consumers could see fewer annual crops at the supermarket—including garlic, onions, melons and tomatoes—if Central Valley farmers don’t get more water, said Ryan Jacobsen, CEO of the Fresno County Farm Bureau. That’s because farmers would divert water to keep permanent nut and citrus orchards alive. “Most folks, they just try to patchwork their operations and make it through, but having another significant drought so soon is definitely something that hurts those operations,” he said. Nemeth, of the Department of Water Resources, said an emergency declaration isn’t yet necessary in the valley because users have access to multiple sources and streams of water, unlike in the Russian River watershed. The executive order will not increase the allocation for valley farmers, but it will make it easier to transfer water, she said. “We’re managing the system just very, very tightly, but there aren’t emergency powers that we need to do the things that would help the valley,” she said. Under Wednesday’s order, the state Water Resources Control Board power can curtail water rights in those counties if major users do not voluntarily begin to conserve. Some of the largest commercial water users in the region are grape growers and wineries. Local governments could place restrictions on residential water users as part of the conservation effort. The Russian River watershed is unique in that it relies much more on snow and rain as it is “geographically isolated” from larger water systems, said Wade Crowfoot, the state’s natural resources

secretary. Without aggressive conservation, the lake is likely to be extremely low by October. Elsewhere, local water districts are already taking action to address dry conditions. In Marin County, which neighbors Sonoma, water officials

voted Tuesday to require residents to reduce water use through measures such as not washing vehicles at home or filling backyard pools. People could face fines for violations. Newsom said he’s not anticipating issuing mandates but said he’s planning for everything. AP

News

BusinessMirror

A4 Friday, April 23, 2021 A8

Business groups rally behind initiative to make Edsa green

By Tyrone Jasper C. Piad

@TyronePiad

EVERAL business groups threw support behind the Green Edsa Movement (GEM), an initiative aiming to improve mobility and to reduce carbon emission in Metro Manila’s busiest thoroughfare. Financial Executives Institute of the Philippines (Finex) President Francisco Ed. Lim said during the launch of GEM on Thursday that both the government and private sector have roles to play in making Edsa green. Lim said that businesses along Edsa should be willing to renovate or redevelop their properties to “improve urban landscape” and incorporate eco-friendly measures. These include the establishment of bike lanes and greenways, among others. “It will not only increase property values, but more importantly, it will contribute to mitigating adverse effects of climate change,” Lim said.

“We look forward to the transformation of Edsa where people mobility is prioritized, where mass transportation is fueled by clean energy, where greenways are developed, and pedestrians are given first base as identified in the National Transportation Policy of 2017,” he added. He explained that establishing greenways could both help in making the communities healthy and attracting tourism-related business opportunities that can create jobs. “They [greenways] contribute to the overall health of residents by offering attractive, safe and accessible places to bike, walk and jog.

With less people using motorized vehicles, the air pollution will be reduced,” Lim said. Eduardo H. Yap, chairman of GEM’s core conveners’ group, said the initiative was launched to address the climate change arising from excessive carbon emissions of vehicles, especially in Edsa. Yap said this calls for “a green program with measurable targets and timelines and measures for sustainability.” GEM envisions a tree-lined Edsa with wide sidewalks for walking and promenading. It advocates for the construction of public and private infrastructures—with eco-friendly design—that provide space for people mobility and greenery. The initiative supports the National Transportation Policy, which prioritizes the people mobility over vehicle mobility and promotes mass public transportation run by clean energy. These, in addition rationalizing road sharing of bikes, private vehicles, pedestrian and public transportation vehicles. “Our vision is to transform Edsa into an iconic green avenue,” Yap said. Apart from Finex, the other busi-

ness groups that supported the said initiative include American Chamber of Commerce of the Philippines, Anvil Business Club, Bankers Association of the Philippines, Canadian Chamber of Commerce, Employers Confederation of the Philippines, Federation of Filipino-Chinese Chambers of Commerce and Industry, Federation of Indian Chambers of Commerce, Filipina CEO Circle, FintechAlliance.ph, Guild of Real Estate Entrepreneurs and Professionals, Integrity Initiative and Makati Business Club. Management Association of the Philippines, Move As One Coalition, Philippine Chamber of Commerce and Industry, Philippine Council of Associations and Association Executives, Philippine Exporters Confederation, Philippine Life Insurance Association, Philippine Retailers Association, Philippine Women’s Economic Network, Procurement and Supply Institute of Asia, Shareholders Association of the Philippines, Subdivision and Housing Developers Association Inc. and Women Business Council Philippines also backed the launching of GEM.

ADB, TNC ink tie up for ecosystem mgmt in Asia Pacific By Cai U. Ordinario @caiordinario

HE Asian Development Bank (ADB) and The Nature Conservancy (TNC) have inked a partnership for nature-positive investments, environmental sustainability, and action on climate change throughout Asia and the Pacific. The partnership will focus on biodiversity and ecosystem protection and restoration; nature-based solutions and sustainable infrastructure; and coastal resilience. ADB and TNC will also cooperate on finance for oceans, freshwater, and biodiversity; sustainable urban planning and development; and gender integration and poverty reduction in nature conservation.

“The coronavirus disease pandemic [Covid-19] has been a wake-up call on the importance of protecting ecosystems and biodiversity to protect humanity. It’s vital that we make the recovery from Covid-19 a green and inclusive recovery,” ADB Vice-President for Knowledge Management and Sustainable Development Bambang Susantono said. “We must take actions that address the root causes of the pandemic and avoid future infectious zoonotic disease outbreaks, promote good health, create jobs that are fit for the future, and support women’s empowerment and economic wellbeing through nature-positive investments,” he added. ADB and TNC have agreed to undertake a two-year work plan where they will

Profiling, red-tagging of community pantry organizers draw flak from privacy body anew

HE National Privacy Commission (NPC) strongly condemned the unlawful profiling and red-tagging of community pantry organizers, noting that doing such leads to discrimination and stereotyping. In a news statement on Thursday, Privacy Commissioner Raymund E. Liboro said the agency “denounces in the strongest terms any act of unjust profiling of community pantry organizers whom we consider heroes of this pandemic as this may violate their right to privacy.” “We have always been firm in our stand that unjust profiling activities are unwelcome due to the risks it entails to our citizens, such as discrimination and stereotyping,” he added. The privacy also has “grave concerns” over the statement of National Task Force to End Local Communist Armed Conflict (NTFELCAC) Spokesman Lt. Gen. Antonio Parlade Jr. against Maginhawa community pantry organizer Ana Patricia Non. Parlade, in a recent TV interview, likened the “selfless act” of Non to that of Satan’s, Liboro noted. “Labels like these are unnecessary when the people are struggling to find every means to survive in this pandemic,” the privacy commissioner stressed.

Following the red-tagging controversies, several lawmakers issued a call to defund NTF-ELCAC. They said the P19-billion budget of the agency should be reallocated to pandemic relief funds instead. Liboro lamented that the profiling activities were unjust given that community pantry organizers only wanted to extend help to the individuals currently struggling amid the pandemic. “Despite this good intention, they [community pantry organizers] have been discouraged from continuing this activity because of red-tagging,” he said. “It is during these trying times that we should not, by any means, fuel discrimination against anyone who has done nothing to deserve such. We must aim to build a united community driven by volunteerism with the genuine desire to help others and the needy,” Liboro said. Earlier, NPC called on the Philippine National Police (PNP) to act on alleged profiling of community pantry organizers. NPC urged the PNP Data Protection Office to investigate such reports and “take appropriate measures to prevent any doings of its personnel on the ground that could potentially harm citizens and violate rights.” Tyrone Jasper C. Piad

pilot initiatives aimed at sustainable management of coastal ecosystems and catalyzing investment in development planning tools and digital technologies, which seek improve ecosystem management. This work plan will contribute to ADB’s Action Plan for Healthy Oceans and Sustainable Blue Economies. Further, ADB and TNC will cooperate on technical assistance for coral reef restoration through an innovative financing and insurance initiative. The partnership will also yield knowledge products and activities that will integrate gender equity in promoting nature preservation and climate action. “The challenges of the

Covid-19 pandemic have also revealed the power and importance of collaboration to address complex issues with the urgency they require,” said TNC Chief Executive Officer Jennifer Morris. “The Nature Conservancy and the Asian Development Bank are demonstrating to the world the power of cross-sector partnerships and communitybased conservation to create a brighter future for people and nature,” she added. TNC is a charitable environmental organization founded in 1951 and headquartered in Arlington, Virginia, United States. TNC currently impacts conservation in over 70 countries worldwide and has several national affiliates.

www.businessmirror.com.ph

Lawmaker pushes passage of law protecting vaccinated individuals The State can therefore enact a general law protecting those who are vaccinated from those who are not vaccinated. Rep. Elpidio Barzaga Jr.

SENIOR lawmaker on Thursday said there is now a need for Congress to pass a law that would protect all vaccinated individuals against those who may refuse to receive Covid-19 jabs pursuant to the general welfare clause of the Constitution. Under the General Welfare clause of the Constitution, Cavite Rep. Elpidio Barzaga Jr., a CPA cum lawyer, pointed out “the State is mandated to make rules and regulations to protect the lives of the majority of its citizens. A person who is not vaccinated is a risk to the lives of others and to the general community.” “The State can therefore enact a general law protecting those who are vaccinated from those who are not vaccinated. While others might argue that such law shall be discriminatory—discriminating those vaccinated against those non-vaccinated, nonetheless, there shall be no violation of the constitutional rights to due process and equal protection clause. Every individual, therefore, to avoid adverse consequences must allow themselves to be vaccinated,” he said. A survey of the University of the Philippines-OCTA research team last February showed that only 19 percent of respondents are willing to be vaccinated, 46 percent are unwilling and 35 percent are undecided. Barzaga said that while the number of those who want to be vaccinated is increasing, the number may not be enough to protect the population for as long as there are people who will continue to refuse inoculation. The senior lawmaker said that while the Constitution guarantees the right to life of every individual, “such right is subservient to the paramount interest of the lives of the greater majority.” Article II, Section 5 of the Constitution (Declaration of Principles

and State Policies) states: “The maintenance of peace and order, the protection of life, liberty, and property, and the promotion of the general welfare are essential for the enjoyment by all the people of the blessings of democracy.” Barzaga, the president of the National Unity Party (NUP) in the House of Representatives, said that under the general welfare clause, it would be legal and constitutionally accepted for an employer to issue a policy that only vaccinated applicants can be employed. He said malls can impose a regulation that only those vaccinated shall be permitted to enter, while restaurants and hotels can accept only persons who have been vaccinated. He also private parks can refuse entrance to those who are not vaccinated and even schools can impose a restriction that its enrollees must be fully vaccinated as a condition for enrollment. Barzaga argued that the State has no option but to protect those who are vaccinated, noting that the average direct medical cost is at least P400,000 for a four-day stay in the hospital by a patient suffering mild Covid-19 symptoms. “Unfortunately, this financial cost is nowhere near the total harm caused by the pandemic. A great number of us are fearful of getting infected. We are subjected to restrictions on mobility but we all know that these measures are not enough. Social distancing, masking, basic Covid-19 protocols work but vaccination is an important key to stop this pandemic,” he said. On an individual level, the lawmaker said vaccination will protect an individual from getting Covid-19 but “unfortunately, we have observed the hesitancy to accept a Covid-19 vaccine.” Jovee Marie N. Dela Cruz

SC to push through with ATA 2020 oral arguments on Tuesday via Zoom

HE Supreme Court (SC) is scheduled to resume via Zoom the oral arguments on the 37 petitions seeking to declare as unconstitutional the Anti-Terrorism Act (ATA) of 2020. In a two-page advisory, the SC said that the oral arguments would resume on April 27 (Tuesday) at 2:30 p.m. Unlike the previous oral arguments where all the justices and a limited number of lawyers from both parties were physically present in the session hall, this time the parties would be holding the arguments through the Zoom platform.

The SC decided to hold the oral arguments via Zoom as the National Capital Region (NCR) and its nearby provinces remain under the modified enhanced community quarantine due to rising Covid-19 infections. “Given the current public health situation, the reminder of the oral arguments shall be conducted through videoconferencing. This arrangement shall be pro hac vice vis-à-vis these consolidated cases. Personal appearance before the Court En Banc remains to be the primary mode of conducting oral arguments,” the SC said. Those who would attend the vid-

eoconferencing through the Zoom platform are the SC justices, court personnel, counsels and amici curiae. The parties may access the live audio stream that would be provided by the SC Public Information Office. They are limiting access to the video platform to three lawyers per petition, and seven lawyers for the Office of the Solicitor General (OSG). National Security Adviser (NSA) Hermogenes Esperon Jr. may also attend the oral arguments via Zoom. This prompted the Court to extend anew the physical closure of all courts in areas under the ECQ.

SC first postponed the oral arguments last February 23, followed by three consecutive postponements on March 9, March 16, and March 23, and the latest is April 6. Newly appointed Chief Justice Alexander Gesmundo would preside over the continuation of the oral argument owing to the retirement of Chief Justice Diosdado Peralta last March 27. The SC is expected to hear the arguments of the Office of the Solicitor General, the chief government counsel of the government against the 37 petitions. Joel R. San Juan

Guevarra urges families of ‘Bloody Sunday’ casualties to trust AO 35 Thin supply but no red alerts for Luzon grid this summer By Joel R. San Juan @jrsanjuan1573

USTICE Secretary Menardo Guevarra has assured the families of nine activists allegedly killed in the so-called Blood Sunday police operations last March 7 in Calabarzon that the Department of Justice would do everything to ferret out the truth. Guevarra, who heads the Administrative Order 35 Task Force, made the assurance after meeting with families of the victims of the incident at his office last Wednesday. The families of the victims and the wife of labor leader Dandy Miguel

who was gunned down in Laguna three weeks after the Bloody Sunday incident sought the meeting. During their meeting, the families requested the agencies under AO 35 to hasten its probe because up until now they are still gripped with fright whenever their dogs bark, raising fears that there are still policemen and military personnel lurking outside of their homes. The task force was created under Administrative Order 35 issued in 2013 to investigate extrajudicial and politically motivated killings, as well as human-rights violations in the country. The members of the task force are

the DOJ as the lead agency, Department of the Interior and Local Government, Armed Forces of the Philippines, Philippine National Police and the National Bureau of Investigation. “They expressed sorrow over the violent death of their loved ones and their hope that justice would be done,” Guevarra said. The DOJ chief, on the other hand, explained to the victims’ families how the investigation under the AO 35 would proceed. He assured that “reasonable efforts shall be exerted to find out the truth” and urged the family “to trust the integrity of the AO 35 mechanism and its capability to dispense justice.

continued from a12 The DOE also called the attention of the following generation companies that

were on outage last March to request information on the outage and estimated time in or resumption of operation: a. Asia Pacific Energy Corp. (Apec); b. Caliraya-Botocan-Kalayaan (CBK) Power Company Ltd; c. Luzon Hydro Corp. (LHC); d. First Gas Power Corp. (FGPC); e. GNPower Mariveles Center Ltd. Co.; f. Petron Corp.; and g. Sem Calaca Power Corp.

BusinessMirror

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS

ESTABLISHMENT / ADDRESS NO.

FOREIGN NATIONAL / NATIONALITY

POSITION

24/7 BUSINESS PROCESSING INC. 9/f Capella Bldg. L-3&4 B2, Filinvest Alabang Muntinlupa City 14/f Capella Bldg. L-3&4 B2, Asean Drive Filinvest Alabang Muntinlupa City MANDARIN SPEAKING XIE, XINNI CUSTOMER SERVICE 1. Chinese REPRESENTATIVE MANDARIN SPEAKING XU, WEI CUSTOMER SERVICE 2. Chinese REPRESENTATIVE MANDARIN SPEAKING YANG, CHENGLIN CUSTOMER SERVICE 3. Chinese REPRESENTATIVE 66 A-IDEA CONSULTING INC. Rm. 404 Caeg Building Dela Rosa St. Pio Del Pilar Makati City WEN, KUO-WEI CHINESE CUSTOMER OFFICER 4. Taiwanese 8 STONE BUSINESS OUTSOURCING OPC 5-10/f Tower 1 Pitx Kennedy Road Tambo Parañaque City CUSTOMER SERVICE ZHANG, QILEI REPRESENTATIVE MANDARIN 5. Chinese SPEAKING CHI, MEIJIA MARKETING STAFF MANDARIN 6. Chinese SPEAKING ZHONG, BINMING MARKETING STAFF MANDARIN 7. Chinese SPEAKING ADVANCE BEYOND INTERNATIONAL CONSULTING, INC. 3/f Salcedo One Center 170 Salcedo St. San Lorenzo Makati City HUANG, SHUIYONG MANDARIN MARKETING 8. Chinese SPECIALIST ALFANET GLOBAL SOLUTIONS, INC. Flr. No. 4th & 5th W Mall Bldg. Diosdado Macapagal Ave. St. Zone 10. Barangay 076, District 1 Pasay City ZHANG, MEIYUN MANDARIN SPEAKING HR 9. Chinese SPECIALIST AMAZING HOUSE, INC. G/f Oceanaire Residences, Cbpi Sunrise Drive Brgy. 076 Pasay City SHEN, JIANXIONG CHINESE CUISINE SPECIALIST 10. Chinese AVANTICE CORPORATION 19/f Pbcom Tower Ayala Ave. Bel-air Makati City TANARATDEJ-ANAN, RAVEEWIT MARKETING EXECUTIVE 11. Thai LE THI HAU OPERATIONS EXECUTIVE 12. Vietnamese NGUYEN HA MY NGA OPERATIONS EXECUTIVE 13. Vietnamese WARANYARAVEENIPHA, PEECHANUKA OPERATIONS EXECUTIVE 14. Thai EDY SETIAWAN PAYMENT EXECUTIVE 15. Indonesian AVANTICE CORPORATION 19/f Pbcom Tower Ayala Ave. Bel-air Makati City LINA PAYMENT EXECUTIVE 16. Indonesian BIBLICAL SEMINARY OF THE PHILIPPINES, INC. 77b Karuhatan Road Valenzuela City SUN, LIANG ASSISTANT SEMINARY CHAPLAIN 17. Chinese / DEAN OF STUDENT AFFAIRS BIG EMPEROR TECHNOLOGY CORP. Eastfield Center Cbp1, Macapagal Blvd. Brgy. 076 Pasay City TONG KEI KHOON COMPUTER TECHNICAL 18. Malaysian SUPPORT SPECIALIST CHEN, YONG MANDARIN LANGUAGE 19. Chinese SPECIALIST GUO, LIZHI MANDARIN LANGUAGE 20. Chinese SPECIALIST HUANG, ZHIHUA MANDARIN LANGUAGE 21. Chinese SPECIALIST BOSCH SERVICE SOLUTIONS, INC. 23rd Floor, W Fifth Avenue Building 32nd Street Corner 5th Avenue Bonifacio Global City Taguig City BAEK, JIEUN ASSOCIATE 22. South Korean CAI PHUONG LAN ASSOCIATE 23. Vietnamese BOWENHILLS TECH INC. 19/f Lepanto Bldg. 8747 Paseo De Roxas Bel-air Makati City LI, YUAN CHINESE- SPEAKING CUSTOMER 24. Chinese SERVICE OFFICER ZHAO, KAI CHINESE- SPEAKING CUSTOMER 25. Chinese SERVICE OFFICER C’EST LA VIE EVENT MANAGEMENT INC. 230 Narra Street Marikina Heights Marikina City CAI, JIANGJIE CHINESE - PROJECT 26. Chinese COORDINATOR MA, YANLEI CHINESE - PROJECT 27. Chinese COORDINATOR YANG, XIAOFENG CHINESE - PROJECT 28. Chinese COORDINATOR CAPSLOCK INC. 7th & 8th Flr. Y Tower Bldg. Coral Way Drive Cor. Macapagal Ave. Brgy. 076 Pasay City CAO, CHUANYONG CHINESE IT SUPPORT SPECIALIST 29. Chinese DENG, GUIHONG CHINESE IT SUPPORT SPECIALIST 30. Chinese GENG, DEJIE CHINESE IT SUPPORT SPECIALIST 31. Chinese WANG, YUECHUANG CHINESE IT SUPPORT SPECIALIST 32. Chinese YE, SHAN CHINESE IT SUPPORT SPECIALIST 33. Chinese ZHANG, HUA CHINESE IT SUPPORT SPECIALIST 34. Chinese DAXIFA CORPORATION Mpire Center 93 West Avenue Project 7 Bungad 1 Quezon City MANDARIN SPEAKING HE, TAO CUSTOMER SERVICE 35. Chinese REPRESENTATIVE MANDARIN SPEAKING HOANG THI THUONG CUSTOMER SERVICE 36. Vietnamese REPRESENTATIVE MANDARIN SPEAKING SU, ZHICAN CUSTOMER SERVICE 37. Chinese REPRESENTATIVE MANDARIN SPEAKING WANG, SHAOHAI CUSTOMER SERVICE 38. Chinese REPRESENTATIVE FACTSET PHILIPPINES, INC. One Le Grand Tower (olgt), 10th-18th Floor Mckinley West Fort Bonifacio Taguig City KIM, NARA LEAD FINANCIAL LANGUAGE 39. South Korean ANALYST TARRILLO MEGO, MARCO LEAD FINANCIAL LANGUAGE 40. Peruvian ANALYST FLYING DRAGON NETWORK PHILIPPINES INC. Malate Bayview Mansion 1781 M. Adriatico Street 076, Brgy. 699 Malate Manila 4th-11th Floor Aseana 3 Building Aseana Avenue Corner Diosdado Macapagal Tambo Parañaque City LI, LULU CHINESE CUSTOMER SERVICE 41. Chinese LIU, XUHUI CHINESE CUSTOMER SERVICE 42. Chinese LI, BAOSHENG CHINESE CUSTOMER SERVICE 43. Chinese REPRESENTATIVE LI, YONGQIANG CHINESE CUSTOMER SERVICE 44. Chinese REPRESENTATIVE

NO.

FOREIGN NATIONAL / NATIONALITY

ESTABLISHMENT / ADDRESS POSITION

LI, YUANQUAN CHINESE CUSTOMER SERVICE Chinese REPRESENTATIVE LIANG, JIA CHINESE CUSTOMER SERVICE 46. Chinese REPRESENTATIVE REN, XINGHONG CHINESE CUSTOMER SERVICE 47. Chinese REPRESENTATIVE YANG, TAO CHINESE CUSTOMER SERVICE 48. Chinese REPRESENTATIVE YI, MIN CHINESE CUSTOMER SERVICE 49. Chinese REPRESENTATIVE ZHANG, MENG CHINESE CUSTOMER SERVICE 50. Chinese REPRESENTATIVE ZHANG, JIA CHINESE CUSTOMER SERVICE 51. Chinese REPRESENTATIVE ZHONG, XINJING CHINESE CUSTOMER SERVICE 52. Chinese REPRESENTATIVE ZHONG, CHUNYU CHINESE CUSTOMER SERVICE 53. Chinese REPRESENTATIVE ZHOU, ZHILONG CHINESE CUSTOMER SERVICE 54. Chinese REPRESENTATIVE GATEWAYSOLUTIONS CORP. Unit 2306 Antel Global Corporate Center Julia Vargas Ave. Ortigas Center, San Antonio Pasig City CHEN, MINGCHUN CUSTOMER SERVICE 55. Chinese REPRESENTATIVE DUAN, HONGBAO CUSTOMER SERVICE 56. Chinese REPRESENTATIVE LIN, ZEXIONG CUSTOMER SERVICE 57. Chinese REPRESENTATIVE LIU, SHUAICHAO CUSTOMER SERVICE 58. Chinese REPRESENTATIVE YOU, SHUMING CUSTOMER SERVICE 59. Chinese REPRESENTATIVE YOU, YUNBIN CUSTOMER SERVICE 60. Chinese REPRESENTATIVE YU, MEIZHU CUSTOMER SERVICE 61. Chinese REPRESENTATIVE GENX SPORTS & MEDIA PRODUCTION CORP. 11/f Aseana I Bldg. Bradco Ave. Aseana City Tambo Parañaque City CUSTOMER SERVICE JIANG, ZHENGTAO REPRESENTATIVE-MANDARIN 62. Chinese SPEAKING CUSTOMER SERVICE LIU, SHUANG REPRESENTATIVE-MANDARIN 63. Chinese SPEAKING CUSTOMER SERVICE LIU, XIAOMEI REPRESENTATIVE-MANDARIN 64. Chinese SPEAKING GLOBALLGA BUSINESS PROCESS OUTSOURCING 2nd, 3rd & 6th Flr. Ortigas Technopoint 2 Ortigas Home Depot Complex #1 Doña Julia Vargas Ave. Pasig City FU, CHUANLIANG MARKETING STAFF MANDARIN 65. Chinese SPEAKING LI, JIANG MARKETING STAFF MANDARIN 66. Chinese SPEAKING WANG, ZHENGQUN MARKETING STAFF MANDARIN 67. Chinese SPEAKING HITACHI DIGITAL PAYMENT SOLUTIONS PHILIPPINES,INC. Unit 31-d 31/f Rufino Pacific Tower 6784 Ayala Ave. San Lorenzo Makati City AMARASINGHE, UDATIYA WALAGE SUPUN KALHARA IT CONSULTANT 68. Sri Lankan MOHAMED HANIFFA, RAMEEZ IT CONSULTANT 69. Sri Lankan HUAWEI TECHNOLOGIES PHILS. INC. U-5302, 53/f Pbcom Tower 6795 Ayala Ave., Cor., V.a. Rufino St. Bel-air Makati City PUBLIC SECTOR BUSINESS DEPARTMENT ACCOUNT ZHANG, CONG MANAGER FOR HUAWEI 70. Chinese ENTERPRISE BUSINESS GROUP PROJECT INVECH TREASURE PROCESSING CORPORATION 2nd, 3rd, 4th, 5th Floor Six West Campus Mckinley West Fort Bonifacio Taguig City WANG, YUNDONG IT TECHNICAL MANDARIN 71. Chinese ITECHNO SPECIALIST INC. 9/f 100 West Building Sen. Gil Puyat Ave. Pio Del Pilar Makati City U-608 Eastfield Ctr. Moa Comp. Macapagal Ave. Brgy. 076 Pasay City CHEN, RUI CHINESE IT SUPPORT SPECIALIST 72. Chinese CHEN, WEI CHINESE IT SUPPORT SPECIALIST 73. Chinese CHEN, XIAFEI CHINESE IT SUPPORT SPECIALIST 74. Chinese DENG, LILI CHINESE IT SUPPORT SPECIALIST 75. Chinese HAN, ZHENEN CHINESE IT SUPPORT SPECIALIST 76. Chinese JIN, WENJIE CHINESE IT SUPPORT SPECIALIST 77. Chinese LI, XIAODONG CHINESE IT SUPPORT SPECIALIST 78. Chinese LI, BIN CHINESE IT SUPPORT SPECIALIST 79. Chinese LIN, LIRUI CHINESE IT SUPPORT SPECIALIST 80. Chinese LIU, WENLI CHINESE IT SUPPORT SPECIALIST 81. Chinese TIAN, HAOJIE CHINESE IT SUPPORT SPECIALIST 82. Chinese WAN, YITONG CHINESE IT SUPPORT SPECIALIST 83. Chinese WEI, HAO CHINESE IT SUPPORT SPECIALIST 84. Chinese XIE, JUNYING CHINESE IT SUPPORT SPECIALIST 85. Chinese XUE, KAIXUAN CHINESE IT SUPPORT SPECIALIST 86. Chinese YANG, JUNYONG CHINESE IT SUPPORT SPECIALIST 87. Chinese ZHANG, HAOBIN CHINESE IT SUPPORT SPECIALIST 88. Chinese ZHANG, HAOTIAN CHINESE IT SUPPORT SPECIALIST 89. Chinese ZHANG, LONG CHINESE IT SUPPORT SPECIALIST 90. Chinese ZHANG, YANLING CHINESE IT SUPPORT SPECIALIST 91. Chinese ZHU, SHIJIE CHINESE IT SUPPORT SPECIALIST 92. Chinese

45.

J-NA ALLOUT TECHNOLOGY SOLUTIONS CORP. 3/f Lipams Bldg. #48 President Avenue Bf Homes Parañaque City KWAK, SIYOUNG SALES AND MARKETING 93. South Korean CONSULTANT JDB MANAGEMENT AND CONSULTANCY CORP. 107 T & D House Magallanes St. 069, Bgy. 655 Intramuros Manila

GAO, TONG STRATEGIC AND FACILITATION Chinese OFFICER LUO, RENZHI STRATEGIC AND FACILITATION 95. Chinese OFFICER WANG, RUI STRATEGIC AND FACILITATION 96. Chinese OFFICER ZHANG, JINGCHAO STRATEGIC AND FACILITATION 97. Chinese OFFICER JQ INTERNATIONAL CONSTRUCTION INC. Unit 9 & 10, 2f Bttc Centre, 288 Ortigas Ave. Brgy. Greenhills San Juan City

94.

Friday, April 23, 2021 A9

NO.

FOREIGN NATIONAL / NATIONALITY

ESTABLISHMENT / ADDRESS POSITION

ZHENG, LIANG OPERATION SUPERVISOR Chinese LAN TIAN ZI XUN INC. Rm. 2510 25/f Zen Tower 1111 N.lopez St., 071 Bgy. 659 Ermita Manila GAN, MAOLIANG CHINESE SUPPORT SPECIALIST 99. Chinese ZHANG, ZHENGHUA CHINESE SUPPORT SPECIALIST 100. Chinese MINDSCAPE CREATIVES INC. Unit 19-o, Burgundy Corporate Tower 252 Sen. Gil Puyat Ave. Pio Del Pilar Makati City MUNAI, GUKA MANDARIN CUSTOMER SERVICE 101. Chinese LI, YANMEI MANDARIN MARKETING 102. Chinese SPECIALIST WANG, WEN MANDARIN MARKETING 103. Chinese SPECIALIST YANG, ZHIGANG MANDARIN OPERATION 104. Chinese SPECIALIST ZHANG, JUNBO MANDARIN OPERATIONS 105. Chinese SPECIALIST ZHAO, YONGLI MANDARIN OPERATIONS 106. Chinese SPECIALIST LI, PENG MANDARIN PRODUCT 107. Chinese DEVELOPER MOA CLOUDZONE CORP. 4th-11th Flr. Nexgen Tower C4 Rd. Edsa Ext. Brgy. 076 Pasay City BAI, KAI CHINESE CUSTOMER SERVICE 108. Chinese REPRESENTATIVE CHEN, YUKUN CHINESE CUSTOMER SERVICE 109. Chinese REPRESENTATIVE DOU, KUN CHINESE CUSTOMER SERVICE 110. Chinese REPRESENTATIVE GAO, LING CHINESE CUSTOMER SERVICE 111. Chinese REPRESENTATIVE GEGU, LEQI CHINESE CUSTOMER SERVICE 112. Chinese REPRESENTATIVE HUANG, LONG CHINESE CUSTOMER SERVICE 113. Chinese REPRESENTATIVE LIANG, ZHIHAO CHINESE CUSTOMER SERVICE 114. Chinese REPRESENTATIVE LIANG, YUKUAN CHINESE CUSTOMER SERVICE 115. Chinese REPRESENTATIVE LIU, KANGXIONG CHINESE CUSTOMER SERVICE 116. Chinese REPRESENTATIVE LIU, YANG CHINESE CUSTOMER SERVICE 117. Chinese REPRESENTATIVE QIN, HONGBO CHINESE CUSTOMER SERVICE 118. Chinese REPRESENTATIVE QIN, DONG CHINESE CUSTOMER SERVICE 119. Chinese REPRESENTATIVE QU, WENHUA CHINESE CUSTOMER SERVICE 120. Chinese REPRESENTATIVE RONG, WULIN CHINESE CUSTOMER SERVICE 121. Chinese REPRESENTATIVE SHI, JIANENG CHINESE CUSTOMER SERVICE 122. Chinese REPRESENTATIVE WANG, SENLIN CHINESE CUSTOMER SERVICE 123. Chinese REPRESENTATIVE WANG, ZHENKUN CHINESE CUSTOMER SERVICE 124. Chinese REPRESENTATIVE WEI, JUNSHENG CHINESE CUSTOMER SERVICE 125. Chinese REPRESENTATIVE WEI, WEI CHINESE CUSTOMER SERVICE 126. Chinese REPRESENTATIVE WU, CHUNLU CHINESE CUSTOMER SERVICE 127. Chinese REPRESENTATIVE XIE, HAIYANG CHINESE CUSTOMER SERVICE 128. Chinese REPRESENTATIVE YAN, ZHAOLONG CHINESE CUSTOMER SERVICE 129. Chinese REPRESENTATIVE ZHANG, TENGYUE CHINESE CUSTOMER SERVICE 130. Chinese REPRESENTATIVE ZHONG, YANGYANG CHINESE CUSTOMER SERVICE 131. Chinese REPRESENTATIVE ZHONG, XIANGYU CHINESE CUSTOMER SERVICE 132. Chinese REPRESENTATIVE ZUO, PAN CHINESE CUSTOMER SERVICE 133. Chinese REPRESENTATIVE AGUS JONO INDONESIAN CUSTOMER 134. Indonesian SERVICE REPRESENTATIVE LINEN INDONESIAN CUSTOMER 135. Indonesian SERVICE REPRESENTATIVE KOE CHAI LING MALAYSIAN CUSTOMER SERVICE 136. Malaysian REPRESENTATIVE NGUYEN THI LAN ANH VIETNAMESE CUSTOMER 137. Vietnamese SERVICE REPRESENTATIVE NEC TELECOM SOFTWARE PHILIPPINES, INC. 2/f Bonifacio Technology Center 31st Cor. 2nd Ave. Crescent Parkwest Fort Bonifacio Taguig City ORIHARA, HIROSHI SENIOR MANAGER 138. Japanese

98.

NEPC POWER CONSTRUCTION CORP. 15/f Cyber One Bldg. Eastwood Cyberpark City Bagumbayan 3 Quezon City ZHANG, YIN MANDARIN PROJECT Chinese MONITORING MANAGER ZHANG, KUN MECHANICAL WORKS 140. Chinese SUPERVISOR OUTWIT, INC. 2/f Marvin Plaza 2153 Chino Roces Ave. Pio Del Pilar Makati City STEVEN PUTRA HALIM INDONESIAN OPERATIONS 141. Indonesian SPECIALIST LIN, MIN-HSUAN MANDARIN OPERATIONS 142. Taiwanese SPECIALIST FENG, JING MANDARIN TECHNICAL 143. Chinese SUPPORT SPECIALIST MIN, TINGTING MANDARIN TECHNICAL 144. Chinese SUPPORT SPECIALIST PESTECH SDN BHD Rm 202 Lri Bldg. #21 Congressional Ave. Bahay Toro 1 Quezon City LIM PAY CHIN COUNTRY MANAGER FOR 145. Malaysian PROJECT & SALES PHILIPPINE FULL DEGREE COMMUNICATIONS CORP. 10/f Alphaland Makati Place 7323 Ayala Ave. Cor. Malugay St. Bel-air Makati City ZHANG, TIANJUN MANDARIN SUPPORT STAFF 146. Chinese ZHAO, XUANCHAO MANDARIN SUPPORT STAFF 147. Chinese RED DOT MARKETING AND BRANDING INC. Unit 1514 Burgundy Transpacific Place Taft Ave. 079, Bgy. 727 Malate Manila LY PHUONG HA FOREIGN LANGUAGE CUSTOMER 148. Vietnamese SERVICE NGUYEN SY VUONG FOREIGN LANGUAGE 149. Vietnamese MARKETING SPECIALIST TRUONG VAN HOA FOREIGN LANGUAGE 150. Vietnamese MARKETING SPECIALIST TRINH XUAN HOA FOREIGN LANGUAGE 151. Vietnamese OPERATION SPECIALIST NGUYEN VAN THANH MANDARIN MARKETING 152. Vietnamese SPECIALIST LI, HAOHAN MANDARIN SUPERVISOR 153. Chinese LI, BO MANDARIN TECHNICAL 154. Chinese SUPPORT RICECASH ASIA PHILIPPINES, INC. 26/f Yuchengco Tower Rcbc Plaza Ayala Ave. Bel-air Makati City

139.

NO.

FOREIGN NATIONAL / NATIONALITY

POSITION

CHEN, YUN-CHU CHINESE PAYMENTS ASSOCIATE Taiwanese SECURE SMARTER SERVICES INC. Unit A 9/ F Bpi-philam Life Bldg. 6811 Ayala Ave. Bel-air Makati City YANG, ZHIFENG CHINESE SPEAKING SITE 156. Chinese TECHNICIAN SH&HS GLOBAL SYSTEM INC. Unit B 7/f 8 Rockwell Bldg. Hidalgo Drive, Rockwell Center Poblacion Makati City TANG, ZHU CHINESE OUTBOUND SALES 157. Chinese CONSULTANT HUANG, SONGYANG CUSTOMER SUPPORT & 158. Chinese TRAINING SPECIALIST SKY DRAGON GLOBAL TECHNOLOGIES CORP. 2f-5f Unit 710 Shaw Blvd. Global Link Center, Brgy. Wack Wack Mandaluyong City HU, SHU CUSTOMER SERVICE 159. Chinese REPRESENTATIVE WANG, JIANJUN CUSTOMER SERVICE 160. Chinese REPRESENTATIVE KANI, TOSHIHIRO HR MANAGER 161. Japanese SKYLUCK CORPORATION #360, Unit 243 Shaw Center Mall Shaw Blvd. Penthouse Shaw Lt. Mandaluyong City LEE, JUSEONG KOREAN MARKETING 162. South Korean CONSULTANT TAKENAKA CIVIL ENGINEERING & CONSTRUCTION CO. LTD.- PHILIPPINE BRANCH 18f The Enterprise Center Tower 2 6766 Ayala Ave. Cor. Paseo De Roxas San Lorenzo Makati City

155.

163.

NISHIO, TAIZO Japanese

OPERATIONAL MANAGER

TANZILA TRADING INC. U-29 3/f Bac. Bagong Milenyo F.b. Harrison St. Brgy. 076 Pasay City PARK, KWANGKYU CONSULTANT 164. South Korean TELFA OUTSOURCING SERVICES INC. Unit 3b Mrb 1160 J. Bocobo St., 072 Bgy. 670 Ermita Manila ZHAO, YUCHEN MANDARIN TECHNICAL 165. Chinese SUPPORT TIANYU TECHNOLOGY INC. 42/f Pbcom Tower Ayala Avenue Cor. V.a Rufino Street Bel-air Makati City GUO, MAN CHINESE IT SUPPORT SPECIALIST 166. Chinese ZHOU, JUN CHINESE IT SUPPORT SPECIALIST 167. Chinese TRIVES TECHNOLOGY CORPORATION Tower 4 Bayport West Naia Garden Residence, Naia Road Tambo Parañaque City HONG, DONGHUA CHINESE CUSTOMER SERVICE 168. Chinese REPRESENTATIVE HUANG, JING CHINESE CUSTOMER SERVICE 169. Chinese REPRESENTATIVE LIU, JINLONG CHINESE CUSTOMER SERVICE 170. Chinese REPRESENTATIVE SU, JIAFENG CHINESE CUSTOMER SERVICE 171. Chinese REPRESENTATIVE WANG, ANJIA CHINESE CUSTOMER SERVICE 172. Chinese REPRESENTATIVE VAN GOGH BUSINESS PROCESS OUTSOURCING INC. 5th To 8th Flr. Sm Southmall Tower 2 Alabang Zapote Rd. Almanza Uno Las Piñas City DU, XIAOLING INFORMATION SECURITY 173. Chinese ANALYST LI, WEI INFORMATION SECURITY 174. Chinese ANALYST LI, YANGYANG IT TECHNICAL MANDARIN 175. Chinese VPC CORPORATE SOLUTIONS INCORPORATED 11/f 100 West, Sen Gil Puyat Ave. Cor. Washington St. Pio Del Pilar Makati City CHEN, MENG BILINGUAL MARKETING 176. Chinese SPECIALIST DUN, JIE BILINGUAL MARKETING 177. Chinese SPECIALIST HE, BOTAO BILINGUAL MARKETING 178. Chinese SPECIALIST JUAN, CHIEH-LIN BILINGUAL MARKETING 179. Taiwanese SPECIALIST LI, JIAN BILINGUAL MARKETING 180. Chinese SPECIALIST LIU, YI BILINGUAL MARKETING 181. Chinese SPECIALIST MU, JIALI BILINGUAL MARKETING 182. Chinese SPECIALIST LY BUU HA VIETNAM-SPEAKING CUSTOMER 183. Vietnamese SERVICE OFFICER TIEN KIET BOI VIETNAM-SPEAKING CUSTOMER 184. Vietnamese SERVICE OFFICER TRAN THI MY HANG VIETNAM-SPEAKING CUSTOMER 185. Vietnamese SERVICE OFFICER VUONG PHOI AN VIETNAM-SPEAKING CUSTOMER 186. Vietnamese SERVICE OFFICER WNS GLOBAL SERVICES PHILIPPINES, INC. 9/f 1880 Bldg. Eastwood City Cyberpark Bagumbayan Quezon City SHARMA, MANISH KUMAR GROUP MANAGER 187. Indian OPERATIONS XINCHUANG NETWORK TECHNOLOGY, INC. 3rd, 5th-10th Flr. Alabang Zapote Rd. Almanza Uno Las Piñas City DING, JIANHUA CUSTOMER SERVICE RELATION 188. Chinese *Date Generated: Apr 22, 2021

In the ad material of Notice of Filing of Application for Alien Employment Permits published on March 23, 2021, the nationality of YAP MAN HORNG under LOGICDOSE INC., should have been read as MALAYSIAN and not as published. In the ad material of Notice of Filing of Application for Alien Employment Permits published on March 23, 2021, the nationality of IVAN SUWANTONO under LOGICDOSE INC., should have been read as INDONESIAN and not as published. In the ad material of Notice of Filing of Application for Alien Employment Permits published on April 13, 2021, the nationality of DRYLIE, STEVEN under JONES LANG LASALLE (PHILIPPINES), INC., should have been read as BRITISH and not as published. Any person in the Philippines who is competent, able and willing to perform the services for which the foreign national is desired may file an objection at DOLE-NCR Regional Office located at DOLE-NCR Building, 967 Maligaya St., Malate Manila, within 30 days after this publication. Please inform DOLE-NCR if you have any information on criminal offense committed by the foreign nationals.

ATTY. SARAH BUENA S. MIRASOL REGIONAL DIRECTOR

A10 Friday, April 23, 2021 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

The US is weakening

T seems like there are those that are geopolitically caught in—or maybe wish for—the good old days when the world was simpler. That is, when the US and USSR are in a bipolar geopolitical world.

The mixtape for the Cold War has many highlights, but the first track must be the 1962 Cuban Missile Crisis. The showdown between John F. Kennedy of the US and Nikita Khrushchev of the USSR had everything—high drama, high stakes, and television. There were the proxy wars. Vietnam was the battleground in the 1960s and 1970s. The US lost. Then the superpowers moved to Afghanistan in the 1970s and 1980s. The USSR lost. In 1961, the Non-Aligned Movement (NAM) of developing world states was formed interestingly in the Socialist Federal Republic of Yugoslavia, considered “non-aligned” because of its leader Josip Broz Tito. Marshall Tito had defied—and maybe scared—every USSR leader, including Joseph Stalin. While a staunch communist, Tito had been in a Russian prisoner of war camp during World War One. Cuba was also “non-aligned.” The Philippines became a member in 1993 after the US bases were expelled. Speaking of Afghanistan, that was part of the 500-year quest of Russia to secure a warm-water port—through Pakistan—with free access to the blue water oceans. Saint Petersburg is on the Baltic Sea, a body that has always been practically a Swedish lake. Russia does “own” Crimea and the port of Sevastopol. But that requires cooperation with Black Sea partner and owner of the Bosporus Strait, Turkey. Petropavlovsk-Kamchatskiy on the Pacific Ocean is 6,767 kilometers from Moscow. Republican candidate Mitt Romney referred to Russia as America’s “biggest geopolitical foe” during the 2012 presidential campaign. Barack Obama, who was wrong on almost every foreign policy decision he made, ridiculed Romney saying, “The 1980s are now calling to ask for their foreign policy back because the Cold War’s been over for 20 years.” In 2021 the world is still “bipolar.” Geopolitically, though, it depends on where you look. If the president in Washington, D.C. looks East, he sees the situation as US versus Russia. If he looks West, it is US versus China. But what the rest of the world sees is a bipolar set up of the US versus a China/Russia partnership. Sir Halford John Mackinder, who died in 1947, was an English geographer, academic and politician, who was regarded as one of the founding fathers of both geopolitics and geostrategy. In his 1904 paper The Geographical Pivot of History, he envisioned a Eurasian superstate, based between the Volga River and the Yangtse. This superstate was not military-based but rooted in simple economics. The Chinese-Russian partnership already dominates or controls Mackinder’s “World Island,” defined as Eurasia and all Africa. “The overland and sea silk roads similarly bind the EU and the Indian and Western Pacific Oceans’ states respectively,” writes Alasdair Macleod, a Member of the London Stock Exchange for over four decades. “It amounts to over half the world’s population no longer sharing the economic and currency interests of 328 million Americans. It is game-on for the cold war to continue.” While Biden and the US has Nato, there is a more far-reaching counterforce: the Shanghai Cooperation Organization. Its members—China, Kazakhstan, Kyrgyzstan, Tajikistan, Uzbekistan, India, Pakistan, and Russia—stretch across Asia through the Indian Ocean to Europe. While the US can pop up an Aircraft Carrier Strike Group anywhere it wants, it is slowly being pushed back economically. This is the new Cold War. Since 2005

BusinessMirror A broader look at today’s business ✝ Ambassador Antonio L. Cabangon Chua Founder Publisher Editor in Chief Associate Editor News Editor Senior Editors

Online Editor Creative Director Chief Photographer Chairman of the Board Ombudsman President Advertising Sales Manager Group Circulation Manager

T. Anthony C. Cabangon

Sonny M. Angara

Better Days

ecently, the Senate Committee of the Whole (COW), led by Senate President Tito Sotto, conducted two extensive hearings on the African swine fever (ASF) that continues to be a perennial threat not only to the local hog industry but also to the country’s food security.

The hearings underscored the seriousness of this other outbreak, as evidenced by the steep rise in the price of pork in public markets (P360-P400 per kilogram in January) due to the lack of supply, which led to the issuance of a price cap; the decline in the total swine inventory of around 24 percent compared to the previous year; and the high number of hog owners and farmers affected in at least 12 regions in the country (68,000). The Department of Agriculture (DA) estimates that there will be a shortfall in the supply of pork of around 380,000 metric tons this year, which was their main rationale for recommending the reduction in tariff rates of imported pork from 30 percent-40 percent to 5 percent-15 percent and the increase in the minimum access volume (MAV) from 54,000 MT to 400,000 MT. This recommendation has since dismayed many local hog producers who claim that the department is more focused on helping importers rather than our local farmers that are double whammied by the effects of ASF and the complications of the

ongoing Covid-19 pandemic. In a bid to protect our local hog raisers, the Senate adopted a resolution urging the President to recall Executive Order 128, which reduces tariffs on imported pork and the recommendation to increase the MAV. To be fair, the ASF crisis is in no way a simple matter. In his position paper, Dr. Roehlano Briones of the Philippine Institute for Development Studies (PIDS) noted that “the hard policy choice is between accepting temporarily high domestic prices and enabling the industry to rebuild rapidly, or allowing prices to decline in favor of the consumer, but slowing down the recovery of the pork industry.” On one hand, the National Economic and Development Authority (Neda) emphasizes that lowering the tariff rates and increasing the MAV will benefit 95 million consumers of pork as it will help address the deficit and the rising pork prices. On the other hand, others argue that such direction will impede the recovery of our local industry players that are still unable to compete with the price of imported pork.

Moreover, as stated by the former congressman Nicanor Briones of the Pork Producers Federation of the Philippines, the changes in the tariff rates and the MAV are estimated to cost the government around P13 billion in revenues— a significant amount that could have been allocated to support local producers. During one of the COW hearings, I raised the case of countries like Denmark, the Netherlands, and Belgium from which we import pork. They have smaller arable lands but are able to make their agricultural industries progressive. In fact, the Netherlands, which is about seven times smaller than the Philippines, is considered the second largest agricultural exporter in the world. In addition, in 2013, according to the Landbouw Economisch Instituut (LEI), the country’s “agricultural sector was found capable of supplying the country’s population of 17 million inhabitants with a varied diet of both animal and crop products, providing each person with over 2,000 calories a day.” In other words, not only are the Dutch able to feed themselves, they are also feeding other countries. The Philippines, which is primarily an agricultural country, should be aiming for the same measure of productivity—or at least reach such level that in the event of extraordinary crises, such as this pandemic, our citizens could rely on local supply and not on imports. Our low productivity is especially evident when compared to some of our Asean neighbors. It was reported in 2016 that compared to Thailand, Indonesia, Malaysia, and Vietnam, the Philippines is the only country

that posted a trade deficit with $5.1 billion in food exports against $11 billion in imports. The US Department of Agriculture also noted that the total factor productivity index of the Philippines only increased by 0.64 percent from 2005 to 2015—a measly growth when compared to Malaysia with 1.8 percent, Indonesia with 2.12 percent, Thailand with 2.16 percent, and Vietnam with 2.21 percent. In order to address this, one of the long-term interventions suggested during the hearings was for the country to invest more strategically towards making the production of our livestock feeds more efficient as this is a major contributing factor to the overall cost. I appreciate the pronouncements of former DA Secretary Piñol that Mindanao is currently integrating the feed material requirements of their livestock and exploring feed additives such as seaweeds. Reducing our reliance on foreign food producers should be at the forefront of DA’s agenda. And that invariably involves building a robust local industry that prioritizes local production; ensuring that annual budgetary allocations for agriculture is spent well and strategically; evaluating existing programs and investments of the government to determine whether or not they are meeting their intended goals; and investing in research and development for innovation. Sen. Sonny Angara has been in public service for 16 years. He has authored and sponsored more than 200 laws. He is currently serving his second term in the Senate. E-mail: sensonnyangara@yahoo.com| Facebook, Twitter & Instagram: @sonnyangara

Lourdes M. Fernandez Jennifer A. Ng Vittorio V. Vitug Lorenzo M. Lomibao Jr., Gerard S. Ramos Lyn B. Resurreccion, Dennis D. Estopace Angel R. Calso Ruben M. Cruz Jr. Eduardo A. Davad Nonilon G. Reyes D. Edgard A. Cabangon Judge Pedro T. Santiago (Ret.) Benjamin V. Ramos Aldwin Maralit Tolosa Rolando M. Manangan

BusinessMirror is published daily by the Philippine Business Daily Mirror Publishing, Inc., with offices on the 3rd floor of Dominga Building III 2113 Chino Roces Avenue corner De La Rosa Street, Makati City, Philippines. Tel. Nos. (Editorial) 817-9467; 813-0725. Fax line: 813-7025. (Advertising Sales) 893-2019; 817-1351, 817-2807. (Circulation) 893-1662; 814-0134 to 36. E-mail: news@businessmirror.com.ph.

www.businessmirror.com.ph

Printed by brown madonna Press, Inc.–Sun Valley Drive KM-15, South Superhighway, Parañaque, Metro Manila MEMBER OF

Self-reliance in food

Yes, working from home makes you more productive, study finds

By Enda Curran | Bloomberg Opinion

he great work-from-home experiment occasioned by the pandemic has divided opinion in the corporate suite and sparked endless debates about whether employees work as effectively from the kitchen table as they do from the office.

A new study finds that, in fact, remote work does indeed make us more productive. The work-from-home boom will lift productivity in the US economy by 5 percent, mostly because of savings in commuting time, the study says. The findings suggest the rapid adoption of new technology amid the pandemic will offer lasting economic gains, helping to boost sluggish productivity that has long weighed on global growth. Not everyone is a fan of remote work. Goldman Sachs Group Inc. Chief Executive Officer David Solomon has called the new arrange-

ments “an aberration” that the investment bank will “correct as quickly as possible,” arguing that it’s especially crucial for new recruits to absorb the Wall Street culture. In contrast, Chief Executive Officer Mark Zuckerberg says the ability to hire engineers far from Facebook Inc.’s main offices has opened up new pools of talent, and many employees will continue working remotely after the pandemic—at salaries more in line with their new locations. The study polled more than 30,000 US workers to gauge whether arrangements that began as a stopgap will endure once infections have

subsided. The research found that 20 percent of full workdays will be from home after the pandemic, compared with just 5 percent before—but far less than at the height of the crisis. The findings come as companies around the world continue to announce work-from-home arrangements, shedding downtown office space. HSBC Holdings Plc. announced it was scrapping the executive floor of its London Canary Wharf headquarters, turning top staff’s private offices into client meeting rooms and collaborative spaces. Twitter Inc. has said its employees can continue working from home permanently. The experience has aggravated economic and racial fault lines in the US, given that many lower-paying jobs—in food preparation and other essential industries—can’t be done remotely, potentially placing those

workers at greater risk of Covid infection. The benefits of working from home “will accrue disproportionately to the highly educated and well paid,” the study noted. Remote work once might have been a career killer: A UK government study of the years before the pandemic found that people who worked from home were far less likely to be promoted. But Covid has reduced the stigma that comes with working from home, the study found. A better-than-expected experience, technological innovations and investments, and lingering fears of crowds and contagion will all bolster the new working arrangements, according to the research. The paper was co-authored by Jose Maria Barrero of the Instituto Tecnológico Autónomo de México, Nicholas Bloom of Stanford See “WFH,” A11

Opinion BusinessMirror

www.businessmirror.com.ph

Who’s afraid of Ana Patricia Non?

Reconfiguring surplus and kindness Tito Genova Valiente

annotations

Manny F. Dooc

TELLTALES

here is an epidemic spreading across the country but it is the type that we should propagate. The virus is so contagious that it has now popped up not only in Metro Manila where it originated but also all over the place. The setting up of community pantries is not an original idea of Ana Patricia Non, and she does not claim it to be. Many others, either individually or in groups, have done similar things in the past. It is not a complicated set up— the food and staples can be laid on a big table or cart in one’s backyard, garage or at the street fronting the house where the needy passers-by can take a look and pick up the items they need. Others are more organized with partakers being required to register and pre-packed foodstuffs are available for easier and equitable allocation. Some pantries provide more supply while others less, but the common denominator of all organizers is the desire to help others who have problems putting food on their tables. This is a very laudable project and we should credit Patricia for undertaking this worthy initiative. Her schools, Paco Catholic School and the University of the Philippines, cherish her achievement and acquaintances take great pride in knowing Patricia. No one in his right mind can close his eyes to the long lines of hungry people waiting to get their share of a pack of rice and sugar, a can of sardines or meat product, pieces of eggs, sachets of coffee, assorted vegetables, noodles and a kilo of camote. It’s subsistence for a couple of days to a family that slept with empty stomach the night before. It’s a gift of life to those who have no idea where to get their next meal—thanks to Patricia and to all those who have selflessly organized community pantries. But it seems that not all are pleased with, and grateful of, their contributions to society. It appears that some sectors in the government are not pleased with the work of Patricia and other organizers of the community pantries. They are getting insecure after the project has gained wide acceptance and approval by the community. They get upset when non-government people or groups succeed in doing work for the general public and inevitably get the credit, which the government should have done in the first place. Doing a good deed is not the monopoly of the government. Everyone has the social responsibility to do his share to promote commonweal. We are our brothers’ keeper. Harassing and intimidating the community pantry organizers reflects badly on the perpetrators and will only boomerang against the government that they represent. Unfortunately, some subalterns are overzealous with their positions and they believe that being more popish than the pope would inherit them the kingdom of heaven. Former Vice President Jejomar Binay has said it all when he stated: “Is the government so threatened by the idea of people sharing what they have with the poor and hungry that it is now harassing and red-tagging community pantries? Kung sapat ang ayuda, wala sanang community

WFH. . .

continued from A10

University and Steven J. Davis of the University of Chicago Booth School of Business and Hoover Institution. “Our data on employer plans and the relative productivity of WFH imply a 5 percent productivity boost in the post-pandemic economy due to re-optimized working arrangements,” according to the paper. “Only one-fifth of this productivity gain will show up in conventional productivity measures, because they do not

Friday, April 23, 2021 A11

T began in a small village: a table was loaded with vegetables and other food items and with the instruction to get what was needed. Free. An additional marker also said: give if you have something to give. In more ways than one, that was the beginning of a personal initiative that is now known as “community pantry.”

Not everyone knew, I suppose, what a pantry was. But the picture spoke more than any project proposal; the image was well understood. In a household where some people had surplus to throw or enough to go around or give around, why not systematically organize a site of redistribution. Soon, other pantries were set up following the same guideline: take only what you need and, for those who do not need anything from the cart or table, why not give some. The photos of the original community pantry went viral online. It became very popular. Each time, another pantry was set up, the same excitement was felt. Some felt emotional over the fact that charity in all its rawness still existed in the city. It was a feel-good event. It was unusual in its uncomplicated position. For many, the project was a bit naïve. For the community organizers bred in the 70s and 80s, the pantry had all the making of an initiative doomed to failure. It did not ask the basic question: do people need this? Would not this act encourage dependency? Indeed, a few days after the pantry was up, there were individuals in the neighborhood complaining how the crowd could be a major spreader of the virus. Then followed the complaint that some were getting more than what were needed. Hoarders, they were dubbed. But the kindness, for lack of a better word for the action, went un-

pantries… Takot ba ang gobyerno sa libreng gulay?” After they were harshly denounced by other officials in the government and the citizenry, one top official of DILG immediately claimed that he was misquoted by allegedly requiring prior registration and approval from the LGU or barangay before anyone can put up a community pantry. The top police official also denied having ordered his men to conduct profiling and redtagging of the operators of the community pantries. Sensing the overwhelming sentiment of the public, many LGUs have asserted that they would not require a permit for any community pantry to operate within their jurisdiction. Even the Secretary of Justice, a man who is known for fairness and prudence, has disagreed with the actions of his fellow officials in the administration. I know that the President is not behind this and that he would not sanction the unjustified moves of the officials concerned. I recall the time when President Duterte sacked Commissioner Manuelito Luna of the Presidential Anti-Corruption Commission for asking for the investigation of VP Leni Robredo for allegedly competing with the government efforts in providing relief to the Covid-19 victims. Commissioner Luna claimed that VP Robredo had undermined the government’s program to address the health crisis. At no time is closer cooperation between the government and the private sector more needed than at present where every help matters if we are to succeed in meeting the challenges brought about by the pandemic. Instead of terrorizing the project organizers, the government should encourage and facilitate the formation of community pantries all over the country most particularly in depressed communities. Or, if they cannot lick them, better join them, as what one police station has done by putting up its own pantry. They may have no problem stockpiling their pantry with food supply. The support of the government to this excellent project will go a long way in providing basic necessities to our starving population. NGOs can also do their share. Private resources are finite, and we have to admit that benefactors may suffer from donors’ fatigue. With the government’s support, and probably grant of incentives, we can overcome what we call “ningas kugon.” Only with a strong public-private partnership can we sustain this movement. The community pantries that provide supply of free basic staples to our hungry neighbors will be the saving grace of this pandemic and the legacy of our selfless generation.

EW DELHI—The world’s fastest pace of spreading infections and the highest daily increase in coronavirus cases are pushing India further into a deepening and deadly health-care crisis. India is massive—it’s the world’s second-most populous country with nearly 1.4 billion people—and its size presents extraordinary challenges to fighting Covid-19. Some 2.7 million vaccine doses are given daily, but that’s still less than 10 percent of its people who’ve gotten their first shot. Overall, India has confirmed 15.9 million cases of infection, the second highest after the United States, and 184,657 deaths. The latest surge has driven India’s fragile health systems to the breaking point: Understaffed hospitals are overflowing with patients. Medical oxygen is in short supply. Intensive care units are full. Nearly all ventilators are in use, and the dead are piling up at crematoriums and graveyards.

capture the time savings from less commuting.” Other main findings include: n Higher-income employees especially will enjoy large benefits from greater remote work. n The shift to work from home will directly reduce spending in major city centers by at least 5 percent to 10 percent relative to pre-pandemic level. “The shift to WFH will also have highly uneven geographic effects, diminishing the fortunes of cities like San Francisco with high rates of inward commuting,” the study found.

Authorities were lulled into believing the worst was behind them when cases started to recede in September. Cases dipped for 30 consecutive weeks before starting to rise in midFebruary, and experts say the country failed to seize the opportunity to augment healthcare infrastructure and aggressively vaccinate. “We were so close to success,” said Bhramar Mukherjee, a biostatistician at the University of Michigan who has been tracking India’s pandemic. Despite warnings and advice that precautions were needed, authorities

abated. One easily recalled that old adage, give till it hurts. Is there truth in this recollection? Online, groups that saw in the community pantries an indictment of a government, which failed in providing the most basic help to people began articulating their thoughts about the phenomenon. It reached a point that the name of the project itself was twisted from Community Pantry into Communist Party. All for fun. That was enough for individuals and organizations connected to the government to begin questioning the motive for the community pantry. Motive for kindness? In a country where charity is suspect, a community coming together to help each other is ironically and increasingly demonized. The media have joined in asking the preposterous question if these tables and carts have something to do with a feared political organization. Of course, a community pantry is political, but not in the sense of those putting their heads together and declaring, let us politicize kindness and surplus. That is the dumbest scenario a paid critic of the brave

critics of this administration can ever conjure. Even if intelligence has not always been an attribute of the many bureaucrats of the present dispensation. Every conscious act that pushes people to come together and enact events that will show what this government has not done is political. Every vitality poured into a gap in the humanity of communities being eroded by the unmitigated disrespect for the rights and dignity of the said communities is political. If a humble pantry is now scaring the soul, or what is left of it, of those who continue to believe that our bureaucracies are still doing well, thank you and good day, that reaction is proceeding from the humility of that

endeavor. It brings us back to those development theories where, when dependency has been over-articulated and where modernization has failed, there is the framework of the basic needs. Focus on that and the

rest shall follow. What is regenerated by the community pantry is the belief that there is something left working in (many) Filipino people. That we may have been quiet or cowered into silence by the pandemic, but we still have it in ourselves to work. The red-tagging has been initiated. I do not believe though that it will be the end of this program. What will kill the community pantries is when politicians begin to step in, use the notion of vegetables and canned goods for free, to marshal their sordid capacity to manipulate people. Leadership should be more than pantries and free products. Leadership is working on structures to create space so that people tapping into their natural sense of neighborliness can be free from harassment and exploitation. When this happens, as it will happen, politicians will build their own carts and tables. Let them call their project Political Pantries. If there is something potent and powerful in the carts and tables offering sustenance at no cost and with no strings attached, it is the fact that they come from the people. And all those talks about the government as emanating from the people ceases to be fiction and becomes a reality. Soon, these community pantries may go slow or diminish. That is natural. This project depends on surplus. But the kindness will be there, and this sense—long buried— that we are strong and we can help each other, with or without these politicians whose dreams and lives depend not on foresight or another kind of kindness, but on an enthronement through vile elections.

E-mail: titovaliente@yahoo.com

Why India is shattering global infection records By Aniruddha Ghosal & Krutika Pathi Associated Press

How did we get here?

were unprepared for the magnitude of the surge, said K Srinath Reddy, president of the Public Health Foundation of India. Critics have pointed to the government deciding to not pause Hindu religious festivals or elections, and experts say that these may have exacerbated the surge. “Authorities across India, without exception, put public health priorities on the back burner,” Reddy said. Consequently, India’s 7-day rolling average of confirmed daily new cases has risen over the past two weeks from 6.75 new cases per 100,000 people on April 6 to 18.04 new cases per 100,000 people on April 20, possibly driven by new variants of the virus, including one that was first detected in India, experts say. India’s top health official Rajesh Bhushan would not speculate Wednesday why authorities could have been better prepared, saying: “Today is not the time to go into why did we miss, or did we miss, did we prepare?”

Why is India’s health system collapsing?

India only spends a fraction of its gross domestic product on its health system, lower than most major economies. As the virus took hold last year, India imposed a harsh, nationwide lockdown for months to prevent hospitals from being overwhelmed. This brought terrible hardship to millions, but also bought time to implement measures to plug critical gaps, like hiring additional health-care workers on short-term contracts, establishing field hospitals and installing hospital beds in banquet halls. But authorities didn’t take a longterm view of the pandemic, said Dr.

Vineeta Bal, who studies immune systems at the Indian Institute of Science Education and Research in Pune city. Suggestions for permanent improvements like adding capacity to existing hospitals or hiring more epidemiologists to help track the virus were widely ignored, she said. Now authorities are scrambling to resuscitate many emergency measures that had been ended once the numbers fell. A year ago, India was able to avoid the shortages of medical oxygen that plagued Latin America and Africa after it converted industrial oxygen manufacturing systems into a medical-grade network. But many facilities went back to supplying oxygen to industries and now several Indian states face such shortages that the Health Ministry has urged hospitals to implement rationing. The government in October began building new plants to produce medical oxygen, but now, some six months later, it remains unclear whether any have come on line, with the Health Ministry saying they were being “closely reviewed for early completion.” Tanks of oxygen are being shut-

tled across the country to hotspots to keep up with the demand, and several state governments have alleged that many have been intercepted by other states en route to be used to meet local needs.

What comes next?

India is faced with the massive challenge of trying to prevent its health-care system from further collapse until enough people can be vaccinated to significantly reduce the flow of patients. The good news is that India is a major vaccine producer, but even after halting large exports of vaccines in March to divert them to domestic use, there are still questions of whether manufactures can produce enough fast enough. “Vaccination is one way to slow down the spread—but this really depends on the speed and availability of the shots,” said Reddy of the Public Health Foundation. Already several states have said they have shortages in vaccines— although the federal government denies it. India said last week it would allow the use of all Covid-19 shots that have been greenlit by the World Health Organization or regulators in the United States, Europe, Britain or Japan. On Monday, it said it would soon expand its vaccination program from people aged 45 to include all adults, some 900 million people—well more than the entire population of the entire European Union and United States combined. Meanwhile, Reddy said some states have had to implement new lockdowns but long-term, it was up to individuals as well to do their part. “As a society, it’s crucial that we maintain public health measures like masking, physical distancing and avoiding crowds,” he said.

A12 Friday, April 23, 2021

‘UMIC’ STILL POSSIBLE IF PHL INVESTS IN HUMAN CAPITAL By Cai U. Ordinario

@caiordinario

ESPITE the pandemic wreaking havoc on the economy last year, the National Economic and Development Authority (Neda) says the country’s dream of attaining upper middle-income status is alive. In a statement, Socioeconomic Planning Secretary Karl Kendrick T. Chua said attaining upper middle-income status remains possible through innovation in agriculture and human capital investments. “We continue to persevere to achieve our 2040 vision where no one is poor and everyone is living in a more comfortable middle-class society. The Philippines has great potential, but to sustain our next level of development, we have to innovate and further improve the way we do things,” said Chua. For the Philippines to have sustained structural transformation to upper middle-income status, Chua said it is no longer enough for the country to be an assembler of products and user of ideas from other countries. Chua said the Philippines should gradually shift to a new framework where the ideas are coming from within the countr y and contributed by local human resources. While the country has “advanced strongly in macro-fiscal policy,” Chua said it was time the country focus on microeconomics and pursue “foundational reforms” in agriculture and human capital development. “Innovation should not skip these two sectors. There is a temptation to jump to high skill manufacturing and services, but we cannot sustain our growth without strengthening agriculture and human capital. If skipped, it would just create a divide where only a few benefit from the latest research and technology,” Chua said. “The key challenge now is proper and strategic implementation. In Neda, we have to determine where we have the highest comparative advantage and allocate resources to support these sectors,” he said. In agriculture, Chua said the government passed the Rice Tariffication Law and is removing the remaining tariff and non-tariff barriers that reduce food security. These will bring down food prices for consumers. The government has passed laws to further develop our human capital, such as the Universal Health Care act, the Philippine Identification System or National ID law, and the Enhanced Basic Education or K-12 act. The government has also enacted the Philippine Innovation Act, Innovative Startup Act, Philippine Space Act, and the Balik Scientist program to encourage more innovation. Moreover, the newly-passed Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act also provides more performance-based tax incentives with high priority on research and development.

Thin supply but no red alerts for Luzon grid this summer

By Lenie Lectura

@llectura

HE Department of Energy (DOE) on Thursday assured the public the Luzon grid would be spared from red alerts until June. This means that the grid would have sufficient power reserves meant to avert power outage incidents.

However, the agency acknowledged that power supply could be thin during the summer months until June because some power plants are placed on extended shutdown. As such, a yellow alert could be issued by the National Grid Corporation of

the Philippines (NGCP). “There is a possibility of yellow alerts during weeks 15-18 [mid-April until first week of May]. We expect another round of yellow alert during weeks 21 to 25 [mid-May until midJune]. This is because there are power

plants that are on extended forced outage and also because of high demand. Magkakaraon ng thinning of reserves for summer months,” said DOE Assistant Secretary Redentor Delola during an online press briefing. The estimated peak demand of 11,841MW is expected to occur mid-May. The DOE said it has been closely monitoring the actual day-to-day peak demand in comparison with the projected demand as a basis for its coordination efforts. Since the year-to-date demand profile suggests that the optimistic forecast will not be achieved, the grid would have additional reserve. “We will have sufficient level of supply as long as there will be no additional outages of big power plants or simultaneous outages of small plants. Given how demand has been moving since the start of the year, we

have sufficient level of reserves, about 1,000MW,” said Delola. Since January 7 of this year, the DOE held coordination meetings with the NGCP, the generation companies, and other electric power stakeholders to address the projected power issues that may lead to insufficiency of power supply. From these meetings, DOE enjoined TeaM Energy Corporation and Kepco Ilijan Corporation (Keilco) to defer the Planned Maintenance Schedule of Sual Unit 1 (647 MW) and Ilijan Block A (600 MW). While the DOE is yet to receive an official response, both TeaM Energy and Keilco confirmed their deferment of preventive maintenance schedule (PMS) to comply with the “no preventive maintenance policy during peak quarters.” Continued on A8

THE Intramuros Community Pantry in front of Manila Cathedral adds to the growing list of community pantries sprouting all over the Metropolis. Local government units in Metro Manila have not required any permit for such activities amid fears that red tape might hinder efforts to organize similar projects. However, organizers are asked to coordinate with barangay officials to ensure health protocols are observed especially when queues become longer. ROY DOMINGO

More units for Covid BPI aims to halve its coal project financing in 5 years may reduce restrictions By Bianca Cuaresma @BcuaresmaBM

ANK of the Philippine Islands (BPI) has expressed its intent to move away from coal-fired power project financing as part of its overall environmental, social and governance (ESG) agenda going forward. In their Annual Stockholders Meeting (ASM) on Thursday, outgoing BPI president and chief executive officer (CEO) Cezar Consing said: “Certainly there has been a lot of talk about green lending and lending to coal and that is one of the things that we need to tackle. “We hope to bring down our exposure to coal by half by 2026. We’re clearly aligned with the Paris accord to do zero coal exposure by 2037 but that, to me, is so far away and I think we have got to do it sooner.” Earlier this week, civil society and church-led campaign Withdraw from Coal (WFC) released its Coal Divestment Scorecard, listing BPI as the bank with the highest exposure to coal. According to WFC’s report, BPI is responsible for 27 percent of all coal lending across 15 local banks. The coalition also said BPI has funded at least 15 coal plant projects and six coal developer

companies. In a statement following BPI’s announcement to cut its coal exposure, WFC welcomed BPI’s commitment but said a lot of work still has to be done. “Reducing its coal loans by half in the next five years is a good start, but that goal is still underwhelming given that BPI is responsible for 27 percent of all coal lending across 15 local banks. We’d also like to remind BPI that it has to rectify its being the coal industry’s top underwriter,” WFC Convenor Gerry Arances said. “With its coal bonds, BPI is allowing itself to profit off coal without adding to their outstanding loans. Our future is looking catastrophic amid this worsening climate crisis, and so there simply is no excuse to tolerate any form of financial support to coal,” Arances added. WFC also called on other banks to also make similar moves to cut coal-power project financing. “Regardless of the questions still lingering on BPI’s new coal commitment, it is a welcome development that should definitely be mirrored by BDO and PNB as they report to their respective stakeholders,” WFC Convenor Bishop Gerry Alminaza of the Diocese of San Carlos said.

HE successful expansion of medical facilities for Covid-19 patients in the National Capital Region (NCR) and its surrounding areas this month could lead to the lowering of quarantine restrictions in these areas, officials said on Thursday. In an online pres briefing on Thursday, the National Task Force Against covid-19 (NTF) reported hospitals in the NCR Plus—Metro Manila, Laguna, Cavite, Bulacan, and Rizal— have committed to put up an additional 176 intensive care units (ICU) for Covid-19 patients. If successfully implemented, this will bring the total ICU beds for Covid-19 patients in NCR plus to 876, according to Covid-19 Deputy Chief Implementer and testing czar Vivencio “Vince” Dizon. Presidential spokesman Harry Roque welcomed the initiative, which could lower the current utilization rate of ICU beds, now at 82 percent (high risk level), to just 70 percent (moderate risk level). “This will probably justify a lower classification,” Roque said. However, he noted there are two other factors to be considered by the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF) before it considers the easing of classifications—the daily attack rate and 2-week average attack rate. Dizon said the government’s technical experts will consolidate three factors before a final community classification for May is endorsed. The government placed NCR Plus under ECQ on March 29, leading to the closure of some businesses, after the number of daily new Covid-19 cases breached the 10,000 mark. After two weeks, this was eased a bit to MECQ until April 30. Since Monday, Department of Health (DOH) started registering new daily Covid-19 cases below 10,000. “The 176 beds earlier mentioned by Secretary Dizon will be crucial to lower the quarantine classification and reopen the economy since we need to be prepared for those who get a critical sickness due to [Covid-19] and will need ICU beds,” Roque said. Samuel P. Medenilla

Companies BusinessMirror

www.businessmirror.com.ph

Vista Land income declines by 45% as pandemic bites

By VG Cabuag

@villygc

ista Land and Lifescapes Inc., the listed property development company of the Villar Group, on Thursday said its income last year fell 45 percent to P6.4 billion, from the previous year’s P11.6 billion as the pandemic took its toll on most of its businesses. Consolidated total revenues declined 26 percent to P32.7 billion from the previous P42.89 billion, but said its commercial business with rental revenues dropped only by 7 percent as it was able to quickly launch projects when pre-

sented with opportunities due to its landbank and presence across the country. “The past year truly challenged our ability to move forward despite the presence of a global health crisis. However, it even proved to be one

of our most innovative years yet as we accelerated our digital transformation to reach and to better serve our clients,” Manuel B. Villar Jr., the company’s chairman, said. “We are glad to have witnessed the sustained uptrend of our reservation sales registering 37 percent growth since the second quarter of last year and are looking at 2021 with optimism following the resilient overseas Filipino remittances in 2020 and its projected growth of up to 4 percent this year. Our leasing business, notwithstanding the series of lockdowns, was able to ramp up to 95 percent operational gross floor area since the majority of our tenants are categorized as essential.” The company’s total consolidated assets as of December 2020 stood at P284.1 billion. Its capital expenditures for the year amounted to P24.6 billion.

Manuel Paolo A. Villar, the company’s president and CEO, said Vista Land will continue to capitalize on its geographic reach given the demand for affordable housing located outside of Metro Manila. “We are also looking at increased foot traffic with the start of the vaccination rollout this year. Right now, our leasing business enjoys foot fall of 45 to 55 percent of pre-Covid,” he added. Last year, he said, the company as able to maximize the use of its existing raw land and that it was able to launch residential projects worth P5 billion in the last quarter alone to end the year with a total launch value of P10 billion. “We also added over 90,000 square meters of GFA [gross floor area] for our leasing business, mostly commercial centers as we took advantage of the captive demand of our residents.”

Japan firms invest ₧10.5B in PHL By Tyrone Jasper C. Piad @TyronePiad

he Philippines listed additional investments of P10.5 billion from Japanese wiring harness manufacturers, which are projected to generate 18,650 jobs, the Department of Trade and Industry (DTI) said on Thursday. The Trade department, along with the Philippine Trade and Investment Center (PTIC) in Tokyo, virtually met with 6 Japanese investors this week to discuss investment opportunities in wiring harness in the Philippines. These include representatives from Sumitomo Wiring Systems Ltd. and Yokowo Co. Ltd. Commercial Counselor and Special Trade Representative Dita Angara-Mathay, who leads the DTI Field Office in Japan, said that out of the six Japanese firms in attendance, two are new investors and two have confirmed expansion projects. “The remaining companies are still completing their expansion and diversification plans. The rise of new factories, more high-tech products, and new jobs will not only enhance economic activity in regions outside the NCR [National

Capital Region] but also relieve congestion thereat,” Angara-Mathay said. Trade Secretary Ramon Lopez said it was “encouraging to note that the Philippines is able to attract new business in strategic sectors” despite the ongoing pandemic. The DTI chief encouraged the Japanese firms to expand their operations in the country given that wiring harness is a major export product. Last year, the Philippines exported wiring harness valued at $1.886 billion—$857 million or 45.44 percent of which were shipped to Japan, making it the biggest foreign market for the product. This is followed by the United States, South Korea, Canada, and Thailand. DTI noted that the Philippines is the fourth largest exporter of wiring harnesses in the world, with Lopez stressing that demand for greater fuel efficiency and electric vehicles will bode well for the manufacturers. “With wiring harness applications expanding beyond the automotive industry to the telecommunications, aerospace, medical fields, and other ICT [information and communications technology] areas, support for upgrading Philippine-based wiring harness

PayMaya, AMLC ink pact to fight financial crimes

ayMaya recently signed an Information-Sharing Protocol (ISP) agreement with the Anti-Money Laundering Council (AMLC) to help the government prevent and combat financial crimes. Shailesh Baidwan, president of PayMaya, said the ISP between AMLC and PayMaya is going to be a bilateral agreement and cooperative framework towards a more efficient communication and collaboration to prevent and mitigate financial crimes in the country. “As digital payments adoption continues to accelerate among Filipinos, the safety and security of the financial accounts of our customers are paramount. Financial services providers have the responsibility of safeguarding this trust. At PayMaya, we are reaffirming our full commitment to ensuring that transactions made by our customers and partners in our various platforms are safe and secure to maintain their overall trust in our systems,” Baidwan said. Mel Georgie B. Racela, executive director of AMLC said the participation of the private sector is vital in the fight against money laundering and other massive crimes.

“As we continue to enforce the country’s laws against money laundering and terrorism financing, collaboration with the private sector has become more crucial. We truly appreciate the support of PayMaya for this initiative, especially now that more Filipinos are employing cashless transactions,” Racela said. Through the ISP, the AMLC and PayMaya will collaborate in areas of information-sharing and capacity building to help strengthen the integrity of the Philippine financial system. As part of its campaign against financial crimes, Baidwan said PayMaya beefed up its capability by deploying anti-fraud detection tools, implementing a more stringent know your customer process, and actively informing its users through several campaigns on how to avoid being victimized by fraudsters and other unscrupulous individuals. Aside from financial fraud, Racela said the ISP between AMLC and PayMaya can also be tapped to fight other crimes including online sexual abuse and exploitation of children, human trafficking, terrorism financing, swindling or estafa, and donation scams, among others. Rizal Raoul S. Reyes

operations have become all the more imperative,” he said. Trade Undersecretary Rafaelita Aldaba, meanwhile, said Japanese investors may avail of incentives under the Corporate Recovery and Tax Incentives for Enterprise (CREATE) Act, which paved the way for the Special Investment Priority Plan (SIPP). SIPP is a list of priority investments that can be given incentives based on CREATE. “As a prime generator of jobs, provider of support for sectors critical to industrial development, its potential to create value through innovation,

and the country’s comparative competitive advantage in global manufacturing and the export market, investment in wiring harness production may qualify as Tier One under CREATE,” Aldaba said. Qualified industries under CREATE may receive incentives including income tax holiday, special corporate income tax rates or enhanced deductions. The Fiscal Incentives Review Board— co-chaired by DTI and Department of Finance—has yet to finalize the SIPP and the implementing rules and regulations of CREATE.

Friday, April 23, 2021

LBC profit down 57%

Photo from www.lbcexpress.com

ourier LBC Express Holdings Inc. on Thursday said its net income last year fell 57 percent to P201.22 million, from the previous year’s P475.82 million, mainly due to lower revenues and pandemic-related expenses. Service revenues fell 7 percent to P14.12 billion for the year, from P15.21 billion the previous year, due to the decline in demand during the worldwide lockdowns in the second quarter. The group’s branches remained open and delivery services were operational, but with extended lead times, due to safety, security and varied travel restrictions. Revenues recovered in the third and fourth quarters of 2020, with consumer demand increasing and the subsequent normalization of operations, the company said. Cost of services were reduced by 5 percent to P10.65 billion in 2020, from P11.26 billion in 2019, due to the lower volumes of acceptance in the second quarter. Cost of delivery and remittance likewise fell by 13 percent driven by volume decline and more cost-efficient methods of transport. Transportation and

travel costs were also affected by various quarantine restrictions in the year, registering a 21-percent decrease. These cost reductions, however, were offset by the cost of the movement in depreciation and amortization which rose by 5 percent due to the recognized amortization of right-of-use assets associated with new warehouses and renewal of branch lease contracts previously treated as operating lease. The company also raised salaries and benefits of employees in new warehouses and branches by 2 percent. “All our employees and customers were reassured that the group was exercising all efforts to ensure public health and safety, and the group continues to be united with the nation during these trying times,” the company said. “As the group has embarked on a recovery plan, its main objectives are to rebalance and reposition its services toward new consumer needs and behaviors, and rapidly innovate its services and capabilities to leverage on the accelerated shift of consumers to e-commerce.” VG Cabuag

Companies BusinessMirror

Friday, April 23, 2021

PSE STOCK QUOTATIONS

April 22, 2021

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

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

103 82.05 23.4 7.69 9.52 45.3 23.4 22.85 55 17.2 112.5 71.5 1.58 3.92 0.59 3.25 1.49 0.69 147.2 2,340

103.5 82.2 23.5 8.49 9.54 45.55 23.45 22.9 56.3 17.5 113 71.6 1.6 3.95 0.63 3.35 1.56 0.7 147.4 2,346

105 82.15 23.25 8.49 9.53 45 23.4 22.9 55.25 17.5 115 71.15 1.66 3.94 0.63 3.3 1.56 0.72 147.4 2,340

105 82.9 23.4 8.49 9.58 45.55 23.4 23.2 55.25 17.5 115.8 73 1.66 3.95 0.63 3.35 1.56 0.72 147.4 2,340

102.4 81.15 23.15 8.49 9.52 44.35 23.4 22.85 55 17.2 110.6 71.15 1.58 3.9 0.63 3.3 1.49 0.69 147.4 2,340

103 82.2 23.4 8.49 9.52 45.55 23.4 22.9 55 17.2 112.5 71.6 1.58 3.95 0.63 3.35 1.49 0.7 147.4 2,340

2,360,030 1,777,970 76,200 1,600 91,200 2,537,000 500 134,100 12,430 7,000 861,370 13,480 569,000 296,000 2,000 9,000 41,000 292,000 10 620

243,933,256 146,180,185.50 1,775,790 13,584 869,547 114,224,090 11,700 3,079,255 684,695.50 121,640 97,467,815 967,171.50 909,770 1,159,700 1,260 29,850 61,160 205,530 1,474 1,450,800

INDUSTRIAL

AC ENERGY ALSONS CONS ABOITIZ POWER BASIC ENERGY FIRST GEN FIRST PHIL HLDG MERALCO MANILA WATER PETRON PETROENERGY PHX PETROLEUM PILIPINAS SHELL SPC POWER VIVANT AGRINURTURE AXELUM CENTURY FOOD DEL MONTE DNL INDUS EMPERADOR SMC FOODANDBEV ALLIANCE SELECT FRUITAS HLDG GINEBRA JOLLIBEE MAXS GROUP MG HLDG SHAKEYS PIZZA ROXAS AND CO RFM CORP SWIFT FOODS UNIV ROBINA VITARICH VICTORIAS CONCRETE A CONCRETE B CEMEX HLDG DAVINCI CAPITAL EAGLE CEMENT EEI CORP HOLCIM MEGAWIDE PHINMA TKC METALS VULCAN INDL CROWN ASIA EUROMED MABUHAY VINYL PRYCE CORP CONCEPCION GREENERGY INTEGRATED MICR IONICS PANASONIC SFA SEMICON CIRTEK HLDG

7.19 1.28 22.3 0.98 31.25 67.9 271.2 14.72 3.06 3.75 12.02 21 10.26 14.04 6.6 3.26 20.4 10.8 7.13 9.99 67.95 0.63 1.36 57 176 5.93 0.32 7.31 1.01 4.61 0.133 131.7 0.82 2.29 56 60 1.22 3.02 12.04 7.29 5.56 7.03 12.32 1.15 2.33 1.86 2.01 4.57 5.31 22.85 3.69 10.5 1.1 5.6 1.36 5.95

7.2 1.29 22.55 0.99 31.3 68.1 275 14.8 3.15 3.8 12.26 21.1 10.32 14.9 6.68 3.29 20.85 10.98 7.2 10 68.2 0.66 1.39 57.1 177.8 5.95 0.325 7.35 1.03 4.74 0.136 132 0.83 2.36 61.4 63.35 1.23 3.04 12.06 7.46 5.58 7.09 12.38 1.17 2.35 1.93 2.05 4.69 5.5 23.15 3.7 10.52 1.12 5.89 1.38 5.97

7.4 1.32 23.45 1.02 31.3 69 271.2 15.1 3.14 3.84 12.26 20.65 10.3 14.98 6.79 3.3 21 11.1 7.13 10.16 67.2 0.65 1.38 57 177.3 5.99 0.335 7.4 1.05 4.59 0.137 132.5 0.82 2.39 56 59.05 1.22 3.12 12.1 7.48 5.6 7.13 12.36 1.18 2.43 1.93 2.12 4.53 5.36 23.5 3.9 10.82 1.11 5.65 1.38 5.95

7.4 1.35 23.5 1.04 31.4 69 275 15.22 3.17 3.85 12.28 21.1 10.32 14.98 6.89 3.32 21 11.1 7.3 10.16 68.2 0.65 1.4 57.5 177.8 6 0.335 7.4 1.05 4.59 0.138 132.5 0.83 2.39 56 63.95 1.25 3.13 12.16 7.48 5.6 7.3 12.36 1.19 2.45 1.94 2.12 4.68 5.59 23.5 3.94 10.9 1.12 5.65 1.39 6.05

7.18 1.29 22 0.97 31 67.9 271.2 14.8 3.06 3.8 11.7 20.65 10.24 14.96 6.46 3.25 20.05 10.6 7.11 9.98 66 0.63 1.36 56.5 174.6 5.9 0.32 7.31 1.01 4.58 0.133 130.5 0.82 2.39 56 59.05 1.22 3.02 11.86 7.21 5.56 7 12.36 1.14 2.33 1.89 2.02 4.53 5.31 22.8 3.7 10.4 1.1 5.6 1.36 5.9

7.19 1.29 22.3 0.99 31.25 67.9 275 14.8 3.06 3.8 12.28 21 10.32 14.96 6.68 3.29 20.85 10.96 7.13 10 68.2 0.64 1.39 57 177.8 5.93 0.32 7.31 1.03 4.58 0.136 132 0.82 2.39 56 63.95 1.23 3.03 12.04 7.48 5.56 7.03 12.36 1.19 2.33 1.94 2.02 4.68 5.31 23.15 3.7 10.52 1.12 5.6 1.38 5.97

15,089,000 617,000 6,107,500 64,679,000 456,800 16,840 133,370 1,645,200 1,122,000 15,000 216,300 312,500 144,900 500 3,034,100 591,000 1,589,300 239,400 769,000 4,312,400 266,050 739,000 8,502,000 243,580 524,740 302,100 8,490,000 36,100 4,337,000 10,000 1,880,000 260,920 458,000 1,000 50 70 1,028,000 1,834,000 27,600 2,180,900 87,600 820,800 16,700 703,000 4,939,000 212,000 98,000 6,000 27,200 41,400 19,857,000 904,700 174,000 10,000 304,000 802,800

-16,729,719 -71,603,722.50 440,575 -69,620.00 29,916,825 -1,355,550 -10,048,284 -587,108 -90,850 -26,220 1,450,800

109,326,010 806,360 138,407,660 64,612,760 14,274,520 1,149,235.50 36,465,420 24,661,680 3,497,150 57,450 2,651,384 6,538,460 1,489,038 7,484 20,439,439 1,937,160 32,534,125 2,585,238 5,503,290 43,133,035 18,109,188.50 466,390 11,704,210 13,886,028 92,301,898 1,794,204 2,755,600 264,431 4,412,390 45,870 253,410 34,436,593 375,730 2,390 2,800 4,182.50 1,264,860 5,620,040 332,658 15,921,922 487,279 5,842,928 206,412 813,360 11,781,380 406,070 201,280 27,630 148,158 951,430 75,863,300 9,579,354 193,960 56,143 416,440 4,802,594

9,202,718 -36,545,835 -474,990 2,118,930 -228,204.00 -13,703,126.00 1,949,272 -932,830 1,103,050 1,032 -6,708 78,960 1,889,360 9,718 -2,187,972 -60,353 -457,179.50 16,340 11,652,240 -16,446,460 442,072 -4,700 -2,265,710 -45,870 562,310 8,200 -70,050 -15,080 50,696 -14,646,022 -154,072 94,428 4,820 1,930 2,320 -65,490 -468,658 27,500 -7,348

HOLDING & FRIMS ABACORE CAPITAL 1.12 1.13 1.18 1.19 1.12 1.12 30,318,000 34,761,560 7.2 7.34 7.38 7.38 7.34 7.34 300 2,207 ASIABEST GROUP 743.5 745 745.5 748 739.5 745 277,490 206,510,985 AYALA CORP ABOITIZ EQUITY 34.7 34.8 34.55 35 34 34.8 1,077,500 37,115,205 ALLIANCE GLOBAL 10.34 10.7 10.42 10.7 10.22 10.7 1,630,100 17,037,482 3.18 3.19 3.46 3.46 3.14 3.19 13,285,000 43,259,400 AYALA LAND LOG 6.6 6.78 6.6 6.6 6.6 6.6 3,100 20,460 ANSCOR ANGLO PHIL HLDG 0.76 0.79 0.84 0.84 0.74 0.76 13,531,000 10,635,170 ATN HLDG A 0.73 0.74 0.74 0.74 0.72 0.73 1,103,000 802,300 5.11 5.12 5.17 5.17 5.11 5.11 1,145,400 5,875,196 COSCO CAPITAL 5.25 5.27 5.25 5.27 5.2 5.27 3,455,900 18,129,363 DMCI HLDG FILINVEST DEV 8.23 8.35 8.35 8.35 8.35 8.35 1,200 10,020 FORUM PACIFIC 0.27 0.29 0.29 0.29 0.29 0.29 90,000 26,100 542 543 535 542 534 542 87,840 47,374,320 GT CAPITAL 3.64 3.74 3.74 3.74 3.74 3.74 1,000 3,740 HOUSE OF INV JG SUMMIT 55.1 55.5 57 57.25 54.5 55.1 3,386,990 188,529,676 JOLLIVILLE HLDG 4.62 5.36 5.42 5.42 5.42 5.42 200 1,084 1.06 1.07 1.1 1.11 1.04 1.07 3,601,000 3,899,220 LODESTAR 3.35 3.52 3.45 3.56 3.32 3.54 561,000 1,913,020 LOPEZ HLDG LT GROUP 13.32 13.42 13.5 13.6 13.34 13.42 2,670,200 35,885,506 METRO PAC INV 3.88 3.9 4.06 4.06 3.86 3.88 23,343,000 92,272,740 3.62 3.7 3.7 3.7 3.65 3.65 16,000 58,950 PACIFICA HLDG 2.97 2.98 3.1 3.15 2.96 2.97 3,413,000 10,332,230 PRIME MEDIA SOLID GROUP 1.29 1.31 1.31 1.32 1.31 1.31 130,000 171,100 420 438 425 484 420 439 8,500 3,723,340 SYNERGY GRID 967.5 970 968 974.5 965 970 303,580 294,306,415 SM INVESTMENTS 115.3 116.9 116.6 116.9 115.2 116.9 165,030 19,247,311 SAN MIGUEL CORP SOC RESOURCES 0.7 0.72 0.74 0.74 0.7 0.7 219,000 154,060 134 135 133.6 135 133.6 135 1,470 198,436 TOP FRONTIER 0.255 0.27 0.26 0.26 0.255 0.255 530,000 137,000 WELLEX INDUS 0.229 0.238 0.25 0.25 0.228 0.238 11,800,000 2,729,260 ZEUS HLDG

62,250.00 -80,371,765 -857,210 925,502 -1,272,660 -196,190 -4,420,024 -381,825 -5,010 22,682,305 -27,675,356 -168,450 -9,120,730 -2,359,000.00 9,230 -25,800 24,841,385 -3,629,492 102,600 12,750 -

PROPERTY ARTHALAND CORP 0.64 0.65 0.67 0.67 0.65 0.65 236,000 153,640 7.52 8.2 8.2 8.2 8.2 8.2 1,000 8,200 ANCHOR LAND 32.1 32.25 33 33.05 32.1 32.1 30,051,400 971,052,085 AYALA LAND ARANETA PROP 1.22 1.28 1.22 1.22 1.22 1.22 2,000 2,440 33.95 34 34.3 34.3 34 34 393,400 13,389,065 AREIT RT 1.53 1.56 1.56 1.56 1.56 1.56 11,000 17,160 BELLE CORP 0.88 0.89 0.9 0.9 0.88 0.88 664,000 587,180 A BROWN CITYLAND DEVT 0.98 0.99 0.98 1 0.97 0.98 742,000 728,010 CROWN EQUITIES 0.133 0.136 0.14 0.14 0.133 0.136 1,910,000 259,340 6.75 6.9 6.95 7.49 6.65 6.9 76,000 522,746 CEBU HLDG 5.97 5.99 5.98 6.02 5.93 5.99 1,788,000 10,703,494 CEB LANDMASTERS CENTURY PROP 0.385 0.395 0.395 0.395 0.385 0.385 1,510,000 590,200 CYBER BAY 0.33 0.34 0.33 0.34 0.33 0.335 600,000 203,050 12.84 12.86 13.08 13.1 12.86 12.86 1,237,700 15,989,566 DOUBLEDRAGON 2.19 2.2 2.2 2.21 2.19 2.19 8,883,000 19,497,040 DDMP RT DM WENCESLAO 6.88 6.9 6.9 6.93 6.9 6.9 46,400 320,313 0.28 0.285 0.29 0.29 0.29 0.29 10,000 2,900 EMPIRE EAST 0.129 0.13 0.129 0.132 0.126 0.129 4,070,000 523,110 EVER GOTESCO 1.11 1.12 1.13 1.13 1.1 1.11 12,778,000 14,183,730 FILINVEST LAND GLOBAL ESTATE 0.82 0.85 0.81 0.86 0.81 0.85 151,000 128,700 7.13 7.24 7.11 7.13 7.11 7.13 6,300 44,829 8990 HLDG 1.37 1.38 1.38 1.38 1.37 1.37 345,000 473,760 PHIL INFRADEV 2.07 2.08 2.17 2.17 2.05 2.07 3,456,000 7,267,830 CITY AND LAND MEGAWORLD 3.15 3.16 3.22 3.26 3.15 3.16 48,554,000 154,595,830 MRC ALLIED 0.42 0.425 0.445 0.465 0.415 0.425 189,890,000 84,786,350 0.65 0.66 0.71 0.71 0.62 0.65 40,332,000 26,541,900 PHIL ESTATES 3.15 3.16 3.15 3.2 3.05 3.15 5,038,000 15,669,880 PRIMEX CORP ROBINSONS LAND 17.04 17.3 17.42 17.58 17.04 17.3 1,013,900 17,437,180 PHIL REALTY 0.26 0.265 0.26 0.26 0.255 0.26 2,620,000 681,000 1.49 1.55 1.49 1.55 1.48 1.5 268,000 410,230 ROCKWELL 2.21 2.27 2.24 2.3 2.23 2.3 111,000 253,290 STA LUCIA LAND SM PRIME HLDG 35 35.45 35.3 35.45 34.85 35.45 4,723,900 166,071,215 VISTAMALLS 3.73 3.88 3.68 3.91 3.68 3.88 29,000 108,980 1.53 1.54 1.55 1.55 1.53 1.53 214,000 328,260 SUNTRUST HOME 3.68 3.7 3.7 3.7 3.66 3.68 1,125,000 4,141,160 VISTA LAND

660 -570,611,150 470,235 -48,990 -155,968 3,950 -4,535,010 -978,090 -4,277,220.00 -12,380 120 -1,630,420 -4,277,650 10,680 8,060,380 -6,527,268.00 -65,166,750.00 -2,564,860

SERVICES ABS CBN 10.98 11.18 10.96 11.2 10.96 10.98 15,600 172,266 7.98 7.99 7.85 8 7.79 7.98 3,131,100 24,824,176 GMA NETWORK 0.46 0.485 0.485 0.49 0.485 0.49 20,000 9,750 MANILA BULLETIN GLOBE TELECOM 1,860 1,866 1,870 1,877 1,860 1,866 24,180 45,133,870 PLDT 1,296 1,298 1,292 1,298 1,261 1,298 102,295 132,085,945 0.223 0.224 0.223 0.234 0.222 0.223 514,250,000 117,336,260 APOLLO GLOBAL 18.76 18.8 19.2 19.28 18.62 18.8 5,164,600 97,726,164 CONVERGE DFNN INC 3.92 4.03 4 4.09 3.9 4.05 157,000 624,970 DITO CME HLDG 10.5 10.52 10.56 10.8 10.5 10.5 8,059,100 85,242,948 2.2 2.28 2.23 2.3 2.16 2.28 208,000 468,890 JACKSTONES 2.85 2.86 2.84 2.96 2.83 2.85 3,577,000 10,428,030 NOW CORP TRANSPACIFIC BR 0.45 0.455 0.455 0.46 0.445 0.45 13,590,000 6,112,300 PHILWEB 2.6 2.63 2.64 2.65 2.6 2.63 542,000 1,418,100 8.45 8.6 8.6 8.63 8.5 8.5 58,400 497,238 2GO GROUP 14.98 15.5 15.5 15.5 15.5 15.5 1,000 15,500 ASIAN TERMINALS CHELSEA 3.31 3.32 3.31 3.36 3.31 3.31 429,000 1,424,860 CEBU AIR 49 49.15 49.5 49.5 48.95 49.15 356,700 17,491,655 127.5 128.9 130.3 130.3 127 128.9 549,390 70,650,620 INTL CONTAINER 15.36 16.12 16.12 16.12 16 16 1,700 27,390 LBC EXPRESS LORENZO SHIPPNG 1.03 1.04 1.03 1.04 1.03 1.04 2,000 2,070 MACROASIA 4.74 4.75 4.89 4.93 4.72 4.75 1,610,000 7,728,870 2.36 2.39 2.36 2.39 2.36 2.39 62,000 146,670 METROALLIANCE A 6.03 6.05 6.1 6.15 6.03 6.03 18,400 111,853 PAL HLDG HARBOR STAR 1.19 1.2 1.25 1.25 1.19 1.19 374,000 447,770 ACESITE HOTEL 1.82 1.9 1.99 1.99 1.99 1.99 5,000 9,950 0.104 0.105 0.107 0.111 0.102 0.104 619,950,000 65,828,240 BOULEVARD HLDG 3.5 3.55 3.6 3.65 3.47 3.55 606,000 2,135,320 DISCOVERY WORLD WATERFRONT 0.62 0.63 0.64 0.65 0.62 0.62 7,770,000 4,868,350 IPEOPLE 6.87 7.39 7.39 7.39 7.39 7.39 1,100 8,129 0.38 0.385 0.38 0.38 0.38 0.38 840,000 319,200 STI HLDG 6.74 6.75 6.78 6.87 6.65 6.75 2,191,100 14,788,656 BLOOMBERRY PACIFIC ONLINE 2.1 2.11 2.11 2.11 2.1 2.1 18,000 37,900 LEISURE AND RES 1.73 1.8 1.76 1.84 1.74 1.8 1,722,000 3,029,400 2.01 2.08 2.08 2.16 2.08 2.09 144,000 301,500 MANILA JOCKEY 2.11 2.13 2.15 2.21 2.12 2.13 1,465,000 3,175,460 PH RESORTS GRP PREMIUM LEISURE 0.45 0.455 0.46 0.465 0.45 0.45 20,510,000 9,348,100 PHIL RACING 6.12 6.2 6.12 6.2 6.12 6.12 9,600 59,253 7.9 7.95 7.9 7.95 7.76 7.95 316,100 2,494,867 ALLHOME 1.31 1.32 1.33 1.33 1.31 1.31 374,000 494,870 METRO RETAIL PUREGOLD 36.8 37 37.8 37.8 35.8 37 2,562,300 93,614,725 ROBINSONS RTL 51.45 51.95 51.2 51.95 51.2 51.95 523,450 26,947,778 103 104 103 103 103 103 3,620 372,860 PHIL SEVEN CORP 1.19 1.2 1.23 1.23 1.19 1.2 947,000 1,142,130 SSI GROUP WILCON DEPOT 16.92 17.06 17.2 17.22 16.9 16.92 4,668,200 79,137,684 APC GROUP 0.39 0.4 0.39 0.395 0.39 0.395 1,530,000 598,400 5 5.1 5 5 4.9 4.9 7,000 34,500 IPM HLDG 2.32 2.45 2.31 2.31 2.31 2.31 5,000 11,550 PAXYS PRMIERE HORIZON 2.21 2.22 2.35 2.36 2.21 2.22 28,159,000 64,130,380

1,555,060 -23,378,915 -790,280 3,651,848 372,170 1,560,870 143,220 4,500 62,400 4,300 49,950 10,845,030 -4,574,525 1,612 1,030 -2,581,900 -15,159 -43,090 33,060 28,090 541,800 3,241,141 12,640 -2,154,600 8,600 -4,911,150 -143,546 22,610 -31,050,100.00 -5,634,871.50 354,320 -293,660 -56,129,678 447,970

MINING & OIL ATOK 9.5 9.8 9.96 9.96 9.36 9.8 1,377,400 13,316,695 -347,509.00 1.59 1.6 1.67 1.67 1.56 1.59 4,325,000 6,979,730 258,040.00 APEX MINING ATLAS MINING 7.35 7.38 7.75 7.75 7.26 7.35 4,407,300 32,529,402 -3,085,315 BENGUET A 3.1 3.26 3.26 3.27 3.1 3.26 227,000 721,960 3.04 3.09 3.18 3.18 3.08 3.08 12,000 37,460 BENGUET B 0.31 0.33 0.315 0.335 0.305 0.31 6,240,000 2,016,100 COAL ASIA HLDG CENTURY PEAK 2.75 2.85 2.85 2.88 2.72 2.87 18,000 51,360 34,240 DIZON MINES 8.11 8.42 8.48 8.48 8 8.42 35,600 290,688 8,200 2.55 2.58 2.65 2.7 2.55 2.55 4,205,000 10,982,730 -51,550 FERRONICKEL 0.365 0.37 0.4 0.4 0.365 0.37 4,110,000 1,554,100 GEOGRACE LEPANTO A 0.164 0.165 0.176 0.176 0.165 0.165 147,260,000 24,668,340 0.165 0.168 0.177 0.177 0.164 0.164 5,730,000 977,620 247,400.00 LEPANTO B 0.012 0.013 0.014 0.014 0.012 0.013 1,124,100,000 14,640,000 MANILA MINING A 0.013 0.014 0.015 0.015 0.013 0.014 59,200,000 825,500 MANILA MINING B MARCVENTURES 1.28 1.3 1.33 1.39 1.27 1.3 1,783,000 2,341,440 -49,220 NIHAO 1.82 1.83 1.82 1.85 1.82 1.83 220,000 402,120 1,830 5.3 5.34 5.56 5.58 5.3 5.3 6,616,800 35,514,248 -13,313,862 NICKEL ASIA 0.405 0.445 0.42 0.42 0.4 0.405 200,000 81,250 OMICO CORP ORNTL PENINSULA 1.01 1.05 1.04 1.07 1 1.05 2,051,000 2,095,430 5.25 5.27 5.51 5.52 5.21 5.27 2,542,200 13,558,758 -353,221 PX MINING 12.02 12.04 12.22 12.22 11.8 12.02 1,197,400 14,363,814 2,171,692 SEMIRARA MINING 0.01 0.011 0.011 0.011 0.01 0.01 225,400,000 2,307,600 5,000 UNITED PARAGON ACE ENEXOR 19.6 19.8 20.95 21.5 19.5 19.8 1,193,400 23,810,336 654,939 ORNTL PETROL A 0.012 0.013 0.013 0.013 0.012 0.013 84,000,000 1,008,300 0.012 0.013 0.013 0.013 0.012 0.013 20,200,000 258,600 ORNTL PETROL B 0.012 0.013 0.013 0.013 0.012 0.012 22,600,000 279,600 PHILODRILL PXP ENERGY 7.77 7.81 8.01 8.19 7.5 7.77 2,319,500 18,066,760 -385,831.00 PREFFERED HOUSE PREF B 101 101.2 101.2 101.2 101.2 101.2 10,000 1,012,000 100.5 101 100.5 100.5 100.5 100.5 2,500 251,250 HOUSE PREF A 512 534.5 512 512 511 512 2,740 1,400,380 AC PREF B1 AC PREF B2R 511 530 530 530 530 530 10 5,300 45.25 45.45 45.3 45.45 45.2 45.25 36,400 1,649,715 -185,935 CEB PREF 101 101.9 101.9 101.9 101.5 101.5 2,340 237,586 DD PREF 507 515 502 502 502 502 200 100,400 GLO PREF P GTCAP PREF B 1,032 1,048 1,048 1,048 1,048 1,048 3,040 3,185,920 -445,400 MWIDE PREF 101.9 102 102.1 102.1 102 102 760 77,540 999.5 1,000 999.5 999.5 999.5 999.5 20 19,990 PNX PREF 4 1,020 1,036 1,024 1,036 1,020 1,036 105 107,380 PCOR PREF 2B PCOR PREF 3A 1,083 1,119 1,081 1,119 1,081 1,119 1,005 1,086,595 78.05 78.1 78.1 78.1 78.1 78.1 51,200 3,998,720 SMC PREF 2C 76.4 77.5 76.3 77.5 76.3 77.5 8,400 641,280 SMC PREF 2E 78.75 79.3 79.3 79.3 79.3 79.3 60 4,758 SMC PREF 2F SMC PREF 2H 77 78.85 78 78 78 78 26,700 2,082,600 76.95 77 77 77 76.9 77 13,420 1,033,063 SMC PREF 2J 77 77.1 77 77.1 77 77.1 81,000 6,237,010 - SMC PREF 2K PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 10.52 10.9 10.5 10.9 10.5 10.52 14,100 150,052 7.95 7.97 7.8 7.95 7.79 7.95 5,107,400 40,386,471 4,664,495 GMA HLDG PDR WARRANTS LR WARRANT 2.07 2.08 2.09 2.12 2.04 2.09 1,326,000 2,756,420 -26,790 SMALL & MEDIUM ENTERPRISES ALTUS PROP 18.5 18.8 19.4 19.68 18.3 18.5 391,000 7,289,296 -24,758 2.47 2.5 2.58 2.58 2.47 2.47 276,000 686,610 -24,860 ITALPINAS 5.4 5.41 5.35 5.41 5.35 5.4 14,300 77,024 KEPWEALTH MERRYMART 5.38 5.39 5.59 5.74 5.36 5.38 25,358,800 142,162,479 -957,037 EXHANGE TRADE FUNDS FIRST METRO ETF 97.35 98.4 99.95 99.95 97 97.35 48,180 4,713,275 249,982

www.businessmirror.com.ph

SEC greenlights AC Energy ₧16.48-B follow-on offering

By VG Cabuag

@villygc

he Securities and Exchange Commission (SEC) has approved the P16.48-billion follow-on offering of AC Energy Corp., proceeds of which will be used to fund its expansion projects.

In its meeting on Thursday, the SEC en banc has approved AC Energy’s registration statement covering a total of 2.01 billion common shares, some 1.58 billion shares of which shall comprise the primary offer priced from P6 to P8.20 per share, and 330.24 million shares as its secondary offer.

The offer comes with an overallotment option consisting of up to 100,000,000 common shares. At the maximum price, AC Energy and the selling shareholders may raise P16.48 billion from the offer, assuming the oversubscription option is fully exercised. AC Energy will use the net

proceeds from the primary offer, estimated at P12.64 billion, to partially fund the development of power projects, inorganic growth opportunities, repayment of loans and reduction of payables, as well as other general corporate requirements. Based on its latest submissions to the SEC, AC Energy will run the public offering from May 3 to 7, and list the shares on the Philippine Stock Exchange on May 14. The company engaged BPI Capital Corp. as the sole global coordinator, underwriter, and joint bookrunner for the offer. CLSA and UBS will serve as international joint bookrunners, as well as joint bookrunners alongside BPI Capital. Shares of AC Energy closed Thursday at P7.19 apiece.

In November 2020, the company said it has set its sights on achieving half of its target of 5,000MW renewable energy (RE) capacity this year. Of the target, the company said 1,500MW of RE projects are lined up for 2021. “We have 1,500MW worth of projects in the region including Philippines [500MW], Australia [500MW] and the remaining 500MW in India and Vietnam. Those four markets, we expect to build 1,500MW.” AC Energy, which has 1,000MW of capacity in its portfolio, will integrate its international business, which currently has 900MW RE capacity. The company aspires to be the largest listed renewables platform in Southeast Asia, with the goal of reaching 5,000 MW of renewables capacity by 2025.

Registration of Bill Ford Trading revoked

he Securities and Exchange Commission (SEC) has revoked the corporate registration papers of Bill Ford VIP Trading Inc. for engaging in unauthorized investment activities using the sale of pigs as front for its Ponzi scheme. The agency said Bill Ford Trading’s main strategy is to earn from the recruitment of new members or investors, with the piggery business used as a front for its scheme. Its investment scheme involved the sale of pigs for P2,500 each, with the promise of returning the investment that would then amount to P4,375 three months later. An investor who buys 5 pigs worth P12,500 is guaranteed to get P21,875 by the end of 3 months, while someone who invests in 40 pigs worth P100,000 will get a gross profit of P175,000 after the same period. Bill Ford Trading’s scheme involved securities, particularly an investment contract, whereby a person invests his money in a common enterprise and is led to expect profits primarily from the efforts of others, according to the SEC’s Enforcement and Investor Protection Department. In an order issued April 14, the SEC found that the group was headed by a certain Billy Ford Delos Santos Andrada and have engaged in investment-taking activities by selling or offering securities to the public without the necessary secondary license from the SEC. The agency has warned the public against investing in Bill Ford Trading as early as January 23, 2020 through

an advisory, which the company neither responded to nor refuted. The SEC also issued a show cause order against Bill Ford Trading on February 10, directing the company to explain why its corporate registration should not be revoked. “Necessarily, this scheme is unsustainable, as it must rely on a continuous inflow of new investors in order to make payouts to earlier investors,” the order read. “To exacerbate matters, the scheme being offered by BillFord Trading Company/Bill Ford VIP Trading Inc. is clearly in the nature of Ponzi scheme, where the profits or payouts shall be taken from incoming investors or additional pay-ins of existing members-investors considering that it does not have any underlying legitimate business from where it could source its promised return on investments to its investors.” Bill Ford Trading committed another instance of fraud when three of its incorporators—Trixie Faith M. Pena, Andrew James T. Balero and Jethro John G. Reyes—provided wrong addresses in the company’s Articles of Incorporation. “Wherefore, for violation of Section 44 of the Revised Corporation Code of the Philippines [Republic Act 11232) in relation to Sections 8.1, 28.1 and 26.1 of the Securities Regulation Code, P.D. 902-A and Section 179 (j) of the RCCP, the Certificate of Incorporation and the registration of Bill Ford VIP Trading Inc. as a corporation, is hereby revoked,” the SEC said. VG Cabuag

Solon: Give private sector leeway on vaccine program

or faster vaccine rollout, the Deputy Speaker for Trade and Industry has asked the national government to reconsider the categorization in the priority group for the vaccine procured by the private sector. Deputy Speaker for Trade and Industry and Valenzuela 1st District Rep. Weslie T. Gatchalian said the national government should give the private sector the leeway and flexibility to roll out their Covid-19 vaccination programs without classification of their employees. “The private sector has gone over and beyond corporate social responsibility when they donated half of their vaccine procurement to the government. In return, the guidelines that the private sector must follow in the conduct of the vaccination program should be clear and allow them the leeway and flexibility to inoculate their employees after the priorities set by the law,” he said.

Gatchalian issued the call during the joint briefing on Republic Act 11525, or the Covid Vaccination Act of 2021, and its Implementing Rules and Regulations (IRR) held by the House Committees on Trade and Industry and Health. He reiterated that although the vaccines were procured by the private sector using their own funds with the facility of the government thru a tripartite agreement, this private sector initiative would “redound to the benefit of the DOH [Department of Health] as it would now be unburdened from the cost of having to vaccinate the thousands if not millions of private sector workers.” The rollout, he stressed, should be given to all its employees, fairly and without distinction or classification. “We laud and appreciate the private sector for the assurance that that their rollout will conform to and will be without prejudice to the guidelines set by the NTF [National Task Force against Covid-19] and the DOH,” he said. Jovee Marie N. Dela Cruz

mutual funds

April 22, 2021

NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds ALFM Growth Fund, Inc. -a 207.11 12.13% -7.62% -3.98% -8.85% ATRAM Alpha Opportunity Fund, Inc. -a 1.2965 36.82% -6.22% 1.15% -1.26% ATRAM Philippine Equity Opportunity Fund, Inc. -a 2.8458 15.1% -11.96% -6.27% -9.17% Climbs Share Capital Equity Investment Fund Corp. -a 0.7264 13.31% -7.63% n.a. -9.64% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.6807 4.23% n.a. n.a. -8.21% First Metro Save and Learn Equity Fund,Inc. -a 4.5535 13.63% -5.26% -3.01% -7.85% First Metro Save and Learn Philippine Index Fund, Inc. -a,4 0.654 4.69% -9.21% -7.7% -13.92% MBG Equity Investment Fund, Inc. - a 97.58 30.35% -5.56% n.a. -4.28% PAMI Equity Index Fund, Inc. -a 42.4271 14.9% -5.7% -2.73% -9.44% Philam Strategic Growth Fund, Inc. -a 445.44 12.22% -5.68% -3.2% -8.9% Philequity Alpha One Fund, Inc. -a,d,5 1.0217 23.59% n.a. n.a. -6.89% Philequity Dividend Yield Fund, Inc. -a 1.0911 15.47% -4.97% -2.05% -6.6% Philequity Fund, Inc. -a 31.8829 14.81% -5.3% -1.75% -8.3% Philequity MSCI Philippine Index Fund, Inc. -a 0.8253 13.19% n.a. n.a. -9.61% Philequity PSE Index Fund Inc. -a 4.346 15.57% -5.22% -2.01% -9.29% Philippine Stock Index Fund Corp. -a 726.94 15.67% -5.11% -2.15% -9.32% Soldivo Strategic Growth Fund, Inc. -a 0.6601 15.02% -9.38% -5.49% -8.18% Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.2977 11.93% -7.3% -3.49% -9% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.8304 15.09% -5.48% -2.28% -9.51% United Fund, Inc. -a 3.055 13.76% -4.83% -1.02% -7.95% Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 97.5376 15.71% -4.91% -1.48% -9.31% Primarily invested in foreign currency securities ATRAM AsiaPlus Equity Fund, Inc. -b $1.2623 43.12% 4.31% 8.23% 4.94% Sun Life Prosperity World Voyager Fund, Inc. -a $1.7489 43.22% 10.56% n.a. 4.55% Balanced Funds Primarily invested in Peso securities ATRAM Dynamic Allocation Fund, Inc. -a 1.6235 9.35% -1.81% -1.42% -2.7% ATRAM Philippine Balanced Fund, Inc. -a 2.1491 10.75% -2.41% -0.77% -5.96% First Metro Save and Learn Balanced Fund Inc. -a 2.491 8.24% -1.21% -1.44% -5.18% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,1 0.1874 3.08% n.a. n.a. -5.64% NCM Mutual Fund of the Phils., Inc. -a 1.8896 6.32% 0.44% 0.5% -3.79% PAMI Horizon Fund, Inc. -a 3.5322 7.87% -1.03% -0.75% -6.76% Philam Fund, Inc. -a 15.8376 8.2% -0.9% -0.76% -6.49% Solidaritas Fund, Inc. -a 1.9821 8.6% -1.92% -0.58% -5.35% Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.358 8.31% -3.37% -1.86% -6.02% Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 0.956 8.26% n.a. n.a. -6.51% Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.8595 9.84% n.a. n.a. -9.45% Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.8434 10.94% n.a. n.a. -9.61% Sun Life Prosperity Dynamic Fund, Inc. -a 0.8291 8.98% -4.34% -2.47% -6.6% Primarily invested in foreign currency securities Cocolife Dollar Fund Builder, Inc. -a $0.03807 -0.24% 2.59% 1.32% -2.68% PAMI Asia Balanced Fund, Inc. -b $1.1473 24.79% 2.68% 4.91% -0.25% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.6557 31.16% 7.86% 8.29% 3.16% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,3 $1.2039 16.36% 3.93% n.a. 0.15% Bond Funds Primarily invested in Peso securities ALFM Peso Bond Fund, Inc. -a 370.31 2.46% 3.08% 2.51% -0.2% ATRAM Corporate Bond Fund, Inc. -a 1.9113 -0.69% 0.82% 0.22% 0.58% Cocolife Fixed Income Fund, Inc. -a 3.2203 1.84% 3.99% 4.48% 0.17% Ekklesia Mutual Fund Inc. -a 2.2519 -0.37% 2.21% 1.51% -1.92% First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4308 1.25% 3.17% 1.72% -0.91% Philam Bond Fund, Inc. -a 4.4554 0.2% 3.88% 1.72% -3.87% Philam Managed Income Fund, Inc. -a,6 1.3184 3.75% 4.24% 2.69% -0.21% Philequity Peso Bond Fund, Inc. -a 3.9579 3.22% 4.27% 2.47% -1.08% Soldivo Bond Fund, Inc. -a 1.029 1.98% 4.12% 1.97% -1.25% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.1826 2.68% 4.75% 2.75% -0.73% Sun Life Prosperity GS Fund, Inc. -a 1.737 1.34% 4.04% 2.09% -1.03% Primarily invested in foreign currency securities ALFM Dollar Bond Fund, Inc. -a $483.36 3.45% 2.98% 2.3% -0.11% ALFM Euro Bond Fund, Inc. -a Є219.83 2.8% 1.02% 1.19% 0.3% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.1772 0.03% 1.74% 1.08% -8.06% 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 $1.0566 0.47% 0.49% -0.52% -3.3% Philam Dollar Bond Fund, Inc. -a $2.4825 4.21% 4.43% 2.08% -2.09% Philequity Dollar Income Fund Inc. -a $0.0626586 5.39% 3.38% 2.2% 0.55% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.1377 -0.33% 2.28% 0.92% -2.66% Money Market Funds Primarily invested in Peso securities ALFM Money Market Fund, Inc. -a 129.95 2.15% 3.17% 2.52% 0.11% First Metro Save and Learn Money Market Fund, Inc. -a 1.0505 1.4% n.a. n.a. 0.23% Sun Life Prosperity Money Market Fund, Inc. -a 1.302 2% 2.89% 2.57% 0.42% Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0557 1.43% 1.73% n.a. 0.31% Feeder Funds Primarily invested in Peso securities Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a,d,7 1.2235 n.a. n.a. n.a. 8.31% 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."

www.businessmirror.com.ph

Banking&Finance

BPI Q1 net income drops, keen to buy Citibank biz

HE Bank of the Philippines Islands (BPI) reported last Thursday a 21.7-percent decline in its net income in the first quarter of 2021, due mainly to a one-off tax adjustment as provided by the new tax law. The statement was followed by an announcement of BPI’s top official that the bank is keen on buying the Philippine business of Citibank N.A. BPI said their net income hit P5 billion in the first three months of the year. Their net income before taxes for the quarter was supposed to be a 5.1-percent improvement from their performance in 2020. However, a one-time tax adjustment in connection with previously booked loan provisions because of the Corporate Recovery and Tax Incentives for Enterprises (Create) law pushed this downward 21.7 percent from 2020. The bank ’s revenue largely showed growth in the fee income sector; but posted declines in interest-based income. Net interest income dropped by 6.5 percent to P16.9 billion, driven by a 31-basis point contraction in net interest margin to 3.31 percent, BPI said. Meanwhile, BPI’s non-interest income increased by 12.1 percent to P7.4 billion on the back of robust fee income, up by 27.8 percent to P5.7 billion. BPI attributed the boost in non-interest income to higher fees from their bancassurance, asset management, transaction banking, and investment banking businesses. The bank’s cost-to-income ratio during the period stood at 48.6 percent, improving from the 49 percent recorded in the prior year. This is as both total revenue and total operating expenses declined during the period. In particular, total revenues for the first three months of the year declined by 1.5 percent to P24.3 billion while total operating expenses for the first quarter declined by 2.3 percent to P11.8 billion. The bank reported a 2.76 percent non-performing loan ratio during the period, with NPL cov-

erage ratio at 123.5 percent. Soft demand also pulled BPI’s loan portfolio down 5 percent during the period to hit P1.4 trillion. Both BPI’s total deposits and total assets were flat year-on-year. Total deposits stood at P1.7 trillion while its total assets stood at P2.2 trillion.

Keen to buy

IN a news briefing last Thursday, newly-minted BPI President and CEO Jose Teodoro K. Limcaoco said it is looking to acquire Citibank Philippines’ retail business after the foreign bank recently announced that it is pulling out their retail operations in the country. Citibank’s portfolio “complements” BPI’s brand of retail banking. “We have always been admirers of Citibank retail business. It is an excellent franchise. We have always looked at it, but we never believed that Citibank would ever give up on the Philippines,” Limcaoco said. “People have reached out to us to tell us to tell us wha t the plans are for the Philippines. I think it is quite public knowledge that they will exit and they will try to sell the business. We have told them that as soon as there is any information to send us the information and we will take a look at it. Most likely we will be interested,” he added. Citibank earlier announced that they are exiting the local retail banking space, a move that was made across a dozen other jurisdictions. Should the acquisition push through, BPI said Citibank’s network and client base will double the local bank’s current credit card business. Asked about funding for the potential acquisition, Limcaoco said that with their current metrics, he believes BPI can fund the acquisition internally. BPI Executive Vice President Marie Josephine M. Ocampo also said Citibank will be a good addition to their current brand of banking. “We like the Citibank portfolio a lot. We like the quality of their portfolio, we like the talent and we like the technology,” Ocampo, and Mass Retail Head, said.

Credit agency taps SG firm for biz expansion

IBI Information Inc. (CIBI) announced it has signed a strategic partnership with a Singapore-headquartered artificial intelligence and big data company to use innovative AI and computer vision technology to expand business intelligence support and services for local businesses in the Philippines. First set up in 1982 as the Credit Information Exchange System attached to the Central Bank of the Philippines, now the Banko Sentral ng Pilipinas (BSP), CIBI was privatized in 1997. It provides data, credit reporting and information management services and analytics for consumers and business entities. “As a forward-looking and digital-first organisation, CIBI always looks to be one step ahead,” Marlo R. Cruz, president and CEO of the credit bureau agency, was quoted in a statement as saying. “This partnership with Advance.Ai [Advance Intelligence Pte. Ltd.] facilitates our mission to give Filipino businesses easier access to a range of business intelligence services, including credit and data reporting through a more efficient internal system.” Cruz added the agreement with Advance.Ai “marks the beginning of more opportunities for CIBI, as our partners enrich our capabilities and innovations.” “Our market-leading AI and computer vision technology will

CRUZ

allow CIBI to expand its range of critical business data and intelligence reporting solutions, with the ultimate aim of better supporting underbanked and underserved businesses in the Philippines,” Advance.AI CEO Dong Shou was quoted in the statement as saying. “This is more important than ever in the current Covid landscape, as we help accelerate the digitalization of the economy and, in doing so, help millions of Filipinos and businesses gain access to new financial products and services.” Part of the Advance Intelligence Group, 5-year-old Advance.AI said it is expanding into markets after enjoying strong growth last year.

BusinessMirror

Friday, April 23, 2021

Top insurers with healthy biz during pandemic year named

By Bernadette D. Nicolas

@BNicolasBM

ATA from the Insurance Commission (IC) revealed Sun Life of Canada (Philippines) Inc. and Malayan Insurance Co. Inc. topped the list of insurers that witnessed a healthy operation last year.

Sun Life topped life insurers in terms of premium and net income while Malayan Insurance led nonlife insurance companies in terms of gross premiums written during the pandemic year. Based on the unaudited Quarterly Reports Reports on Selected Financial Statistics (QRSFS) submitted by the life insurers, Sun Life Philippines earned a premium income of P39.27 billion. Second on the list was Philippine Axa Life Insurance Corp. (Axa Life) with P31.27 billion followed by Pru Life Insurance Corp. of UK (P30.98 billion), The Philippine American Life and General Insurance Co. (AIA Philam) with P16.77 billion and BPIPhilam Life Assurance Corp. (P16.30 billion). Last year, the life insurance industry earned a premium income of P247.72 billion, up by 5.9 percent from P233.92 billion in the

previous year. Sun Life Philippines also bested other life insurers with a net income of P8.47 billion in 2020. It was followed by AIA Philam Life with a net income of P4.52 billion, The Manufacturers Life Insurance Co. (Phils.) Inc. (Manulife Philippines) with P4.05 billion, Pru Life UK (P3.27 billion) and Axa Life (P2.83 billion). Based on New Business Annual Premium Equivalent (NBAPE), Pru Life UK ranked first among life insurers with P7.95 billion. Trailing Pru Life UK was Sun Life with P7.8 billion, Axa Life with P4.81 billion, FWD Life Insurance Corp. with P2.87 billion and BPI-Philam with P2.83 billion. A life insurer’s NBAPE is computed by obtaining the sum of the value of first-year premiums from products newly sold in a specific year (or the initial annualized premium) and 10

percent of single premiums written. It is an international standard that the Insurance Commission has adopted to more accurately measure the life insurance industry’s sales performance. The life insurance sector’s total NBAPE also dropped to P46.16 billion, plunging by 19.8 percent from P57.56 billion in 2019 due to the restrictions on face-toface selling of insurance products due to community quarantine measures. Meanwhile, AIA Philam Life led the list in terms of net worth and total assets with P78.44 billion and P291.22 billion, respectively. “The combined net worths of the top ten life insurance companies accounted for a remarkable 87.04 percent of the industry’s entire net worth as of year-end 2020 based on the QRSFS, amounting to P214.10 billion,” Insurance Commission chief Dennis B. Funa said. The life insurance sector’s assets also hit P1.53 trillion last year, jumping by 7.78 percent from P1.42 trillion in 2019.

Transformation than digital

NE interesting notion I got when I attended a recent webinar conducted by futurist Gihan Perera of Perth, Australia, was that digital transformation is more about transformation than about digital. It’s about organizational, people, and mindset change than about technology. Of late, digital transformation has been on top of the agenda of many organizations; and associations are not much far behind. According to Wikipedia, digital transformation (DT or DX) is “the adoption of digital technology to transform services or businesses, by replacing non-digital or manual processes with digital processes, or replacing older digital technology with newer digital technology.” Digitalization can apply to information (converting analog information into digital form), to industries, organizations (new production processes and much of the phenomena today such as the Internet of Things, Industry 4.0, Artificial Intelligence, etc.) and to society (like consumption patterns, socio-economic structures, legal and policy measures, etc.). In effect, digitalization touches upon and affects our daily lives. But there are three biggest mistakes leaders make in their digital transformation efforts: on focus, assets and expertise. Focus. Leaders often focus their energies and resources on the digital part, i.e., technology, rather than the transformation part. As an example, Singapore Airlines now offers home-delivered meals by bringing its first-class and businessclass dining experiences to the condos of Singapore. This is part of the “Discover Your Singapore Airlines” initiative aimed at grounded travellers while also helping reconnect the public with the nation’s flag carrier. In the context of associations, this could be providing members with content for solving their problems, advancing their business or career, or providing member-to-member exchanges. As such, technology is merely an enabler but content, solutions and experiences are the more important transformational factors. Asset. Another aspect often overlooked by leaders is the physical asset

Association World Octavio Peralta that an organization possesses. For example, universities have lands and campuses that are most of the time either idle or underutilized. These areas can be used as venues for open-air conferences and exhibitions that are on demand right now because of the pandemic. In terms of associations, they can approach and make an inventory of their members who own assets (land, warehouse, building, etc.) that can be used for hybrid meetings and activity sites, then using technology to stream the event virtually. The other tangible asset that associations have is knowledge of the industry or profession. While there are many technologies that facilitate conversion of content into online learning, for instance, it is still the content that is the valuable asset. Expertise. Whether sourced internally and externally, there is a need for organizations to be equipped with the necessary skills and capabilities in their desire to transform and succeed in the digital economy. Internally, staff have to reskill or upskill to acquire the expertise required. When necessary, external expertise may be tapped for this purpose. Digital transformation presents associations with both challenges and opportunities. When planning for digital transformation, associations need to consider that their focus, assets and expertise are aligned with the change they wish to happen. The column contributor, Octavio ‘Bobby’ Peralta, is concurrently the secretary-general of the Association of Development Financing Institutions in Asia and the Pacific, Founder & CEO of the Philippine Council of Associations and Association Executives and President of the Asia-Pacific Federation of Association Organizations. The purpose of PCAAE—the “association of associations”—is to advance the association management profession and to make associations well-governed and sustainable. PCAAE enjoys the support of Adfiap, the Tourism Promotions Board, and the Philippine International Convention Center. E-mail: obp@adfiap.org.

For the non-life insurance sector, Malayan Insurance came first in terms of gross premiums written with P14.21 billion. Next to Malayan Insurance was Prudential Guarantee & Assurance Inc., with P10.43 billion, Pioneer Insurance & Surety Corp. (P10.05 billion), BPI/MS Insurance Corp. (P5.83 billion) and FPG Insurance Co. Inc. (P4.14 billion). On net premiums written, Prudential obtained the top spot with P4.55 billion. Rounding up the top five were Malayan Insurance (P4.08 billion), Pacific Cross Insurance Inc. (Blue Cross Insurance Inc.) with P3.32 billion, Pioneer Insurance with P2.97 billion and BPI/MS with P2.82 billion. Pioneer Insurance led the pack in terms of net worth (P17.42 billion) and total assets (P39.84 billion). The Insurance Commission has yet to release the official figures on the life insurance industry’s net income and net worth as well as the financial performance report for the non-life insurance sector.

Friday, April 23, 2021 • Editor: Gerard S. Ramos

Relationships BusinessMirror

The trouble with kindness I

LEARNED about the Maginhawa Community Pantry on the day it was first set up. A friend happens to live in the area and started sharing photos on Facebook of this simple wooden rack laden with fruits and vegetables, parked under a tree, with a sign urging people to get what they need—an incredibly generous effort by a resident Ana Patricia Non. I don’t know her, and I’ve never heard of her until my friend shared her photos. I thought to myself, “Galing! What a laudable project!” and was sincerely moved by her sign: “Mabigay ayon sa kakayahan, kumuha batay sa pangangailangan [Give what you can afford, get what you need].” People not only went there to help themselves to the produce, but others went to give and share whatever they could. In just a matter of days, after social media and eventually the traditional news media noticed the Maginhawa Community Pantry, other people started replicating the project in their own communities. It doesn’t take a social anthropologist or psychologist to explain the phenomenon. It’s because Filipinos are basically kind and generous. It is one of our most endearing qualities that translate to hospitality, for instance, for tourists coming from abroad, or receiving friends and relatives from the

provinces. We go out of our way to make our guests feel at home, and ensure they are enjoying their time spent with us. We feed them the best food money can buy, and go out of our way to bring them to the best places that are meaningful, popular, and Instagram-worthy. In small towns, people slaughter their one and only pig to be roasted during fiestas, to be able to feed their neighbors and make them feel special. And even to this day, there are still a few villages where the residents in one place help transfer their neighbor’s nipa hut to another location, which best exemplifies the bayanihan or community spirit. Just remember the past natural calamities many of our kababayans have suffered. Whether it be a supertyphoon, earthquake, or volcanic eruption, many of us are quick to whip out our phones and donate via GCash to the Red Cross, the TV stations, and other organizations conducting relief operations. I remember distinctly after typhoons Ondoy and Yolanda, scores of people were in the supermarkets, buying boxes of food, water and blankets to send to the survivors. So the idea of community pantries, especially at this time of the pandemic lockdown, when thousands more have lost their jobs and can’t properly feed their families, is not a surprise. That it spread like wildfire from Non’s neighborhood to other places in the Metro Manila was also to be expected. As Filipinos, we always come together amid adversities. We can’t rely on the government for help, so we have to look out for each other. But of course, there will be spoilsports. The trouble with kindness is that it attracts attention. It is infectious. Generosity, sincerity and just plain good deeds show up the people who have more funds and whose job it is to take care of the public’s welfare. Napahiya sila, to put it more bluntly. Imagine this government functionary

Today’s Horoscope By Eugenia Last

GARY VALENCIANO with son Paolo and his grandson

AIA All-In-One was introduced—an affordable non-participating whole life insurance plan which provides financial protection from death, accident, disability and critical illness, offering comprehensive and guaranteed protection benefit against risks (including natural calamities and riding public transportation) that may be experienced now or in the future. Last year, the trinity was completed with the launch of AIA Med-Assist, designed to help manage

CELEBRITIES BORN ON THIS DAY: Dev Patel, 31; Jaime King, 42; Jonathan Ruckman, 52; George Lopez, 60.

saying that community pantries now need permits to operate? Or that bemedalled stiff who is so paranoid about the organizers that he sees “communist” in their charitable actions. (Of course, it did not help that some netizens actually put it out there in the ether, joking the community pantries would eventually be redtagged. In fact, some of them came up with a fancy new meaning for “CPP-NPA”—Community Pantry of the Philippines-National Pantry Association. Said in jest, for sure, but obviously taken seriously by people who only have evil and malice in their hearts.) But seriously, when did kindness become a crime? I am sure it was not the intention of Non to embarrass the government. When you listen to her explain her project, you know that she is pure of heart and was more likely influenced by her own mother, a social worker. (I can relate. My own mother was one, although she had already stopped working by the time my siblings and I were born. But every time there’s a calamity somewhere, she is quick to invite me to go to the supermarket to buy relief goods.) I don’t know how long this community pantry will last. Even during natural disasters, people also experience donor fatigue after months of organizing or donating to relief efforts. But make no mistake, this community pantry was a good thing. And it does prove one person can make a difference in the lives of so many. “When the day comes, we step out of the shade, aflame and unafraid, the new dawn blooms as we free it. For there is always light, if only we’re brave enough to see it. If only we’re brave enough to be it.” —Amanda Gorman, The Hill We Climb, Thank you, Patricia, for being that light. n

Happy Birthday: Size up whatever situation unfolds this year. Decisive action will help you stay in control while you put your ideas into motion. Actions will speak louder than words and define you as a leader among your peers. Set the standard and offer solutions, and you will become the go-to person. Love and romance will improve your life. Your numbers are 8, 14, 27, 30, 34, 43, 48.

ARIES (March 21-April 19): You’ll have to make your opportunities. Look for any opening to use your skills, knowledge and attributes to get ahead. How you conduct yourself around your peers will determine how far you get. Plan to do something refreshing. HHH

TAURUS (April 20-May 20): Take a passionate approach to whatever you do, and you will surpass your expectations. Don’t get upset if someone makes a change of plans; in the end, it will play out in your favor. HHHHH

GEMINI (May 21-June 20): Stop worrying about what others think or do and focus on what you can do to improve your life. Look for opportunities that support continuous growth and stimulate you mentally, emotionally and physically. Educational pursuits are favored. HH

CANCER (June 21-July 22): Expand your interests, friendships and goals. Aim to be the one to make a difference. Look at the possibilities, and consider how to revamp old ideas to fit trends. Put your energy where it counts; bask in success. HHHH

LEO (July 23-Aug. 22): Go over essential details before you sign up for something questionable. It’s important not to act in haste or give anyone a chance to take advantage of you. Discipline and hard work will get you where you want to go. HHH

VIRGO (Aug. 23-Sept. 22): Reach out to likeminded people and develop relationships that encourage success. Gather information and learn as you go. A flexible attitude will encourage others to see things your way. HHH

Health protection for every Filipino family IF there is one thing we learned from 2020, it’s making sure that health is a top priority. The rising number of cases and deaths caused by the pandemic served as a wakeup call for Filipinos to safeguard their family’s well-being. In a recent online event held for the media, AIA Philam Life (www.philamlife. com) tapped its protection ambassadors Gary Valenciano, his son Paolo Valenciano and wife Sam Valenciano, to share their personal stories of protection and the importance of passing on the legacy of protection to the younger generation. Protection is at the core of AIA Philam Life’s mission—to race against risk and protect every Filipino family and empower them to live healthier, longer and better lives. In fulfillment of this mission, the company launched innovative products over the last two years, referred to as the Protection Trinity, designed to help address the basic protection needs of Filipinos: life, critical illness, and medical. AIA Critical Protect 100 was launched in 2019, providing coverage from 100 critical illnesses, from age zero to 100. Within the same year,

www.businessmirror.com.ph

the financial burden of Filipino families due to unexpected medical expenses. AIA Med-Assist bridges the expense gap between HMO and life insurance coverage to ensure savings remain untouched despite hospital confinement for more than 12 hours. To further strengthen its Protection Trinity portfolio, the company recently launched the newest addition, AIA Health Cover, a peso-denominated variable life insurance plan which provides all-around health and critical

illness protection. Tennyson Paras, AIA Philam Life Head of Products, explains, “In developing AIA Health Cover that offers comprehensive health and protection benefits, we give Filipinos a product that can cover them in case they are diagnosed with any of the 91 critical illnesses or get benefits like a daily allowance if they are hospitalized for at least 24 hours.” Leo Tan, AIA Philam Life Chief Marketing Officer, shares the rationale for the development of the Protection Trinity portfolio: “With the huge protection gap in the country coupled with the low insurance penetration rate, there’s a lot of work to be done in the fulfillment of our mission of racing against risk, and developing the Protection Trinity products was one of the best ways we can achieve that. “This is the basic financial need that Filipinos have not been paying attention to these past few years, and with the pandemic bringing into focus the importance of protection, we want to make sure we are offering them the best and complete suite of products to meet that need. By making sure that we have the right products, we go a long way in helping our customers live healthier, longer and better lives.”

LIBRA (Sept. 23-Oct. 22): Pay attention to the way you present yourself, how you look and what you can do to make improvements. Don’t overspend on products that promise the impossible. Recognize that hard work and dedication will pay off. Avoid a “quick fix” offer you encounter. HHH

SCORPIO (Oct. 23-Nov. 21): Dream on, and you’ll come up with a great plan that will excite you and get you moving in a new direction. Opportunity is within reach, but it’s up to you to take advantage of the situation and make things happen. HHHH

SAGITTARIUS (Nov. 22-Dec. 21): Pay close attention to what others are doing. Someone will be manipulative if you aren’t careful. Put your energy into something that matters to you. Educate yourself before you indulge in something new. HH

CAPRICORN (Dec. 22-Jan. 19): Set high standards and goals, and don’t stop until you reach your expectations. Embrace projects that will make your life easier. Focus on peace, love, happiness and spending time with loved ones. HHHHH

AQUARIUS (Jan. 20-Feb. 18): Be careful not to overspend or get involved in something that can jeopardize your relationship with someone you love. Look for opportunities that will encourage personal growth, improved health and greater cash flow. HHH

PISCES (Feb. 19-March 20): Explore possibilities. Get involved in something meaningful, and you’ll connect with stimulating people you find enlightening. A change of plans will turn out to be a blessing in disguise. Love and romance are on the rise, and a lifestyle change is encouraged. HHH Birthday Baby: You are engaging, intense and resourceful. You are persistent and demonstrative.

‘it’s all greek to me’ by chris gross and mark mcclain The Universal Crossword/Edited by David Steinberg

ACROSS 1 Venus de Milo’s lack 5 Borrowers’ obligations 10 Uncoordinated people 14 Word with a double meaning? 15 Put forth 16 Condo, e.g. 17 Oscar winner Paquin 18 Cabinet department concerned with unpaid overtime 19 Bean curd 20 The Terminator remake featuring Achilles won a Saturn Award for best... 23 “___ be my pleasure!” 24 Oklahoma’s second-largest city 25 Bic offerings 26 Formerly known as 27 Spot for some me time 28 Microwave 31 Wheat protein 33 Trickery 36 Musical about a group of artists 37 When Zeus was unhappy with life, he was... 40 Perseverance rover’s planet

2 Gets down to propose 4 43 Calls to mind 46 ___-Caps 47 Muscle twitch 50 Cut the lawn 51 “Bye-bye,” to a Brit 54 2021 Australian Open winner Osaka 56 HP products 57 When Athenians settled on the Nile, they named their town... 60 Musical about a group of hippies 62 Grant permission for 63 Three-vowel berry 64 “I had no ___!” 65 Witherspoon of Home Again 66 Light-colored 67 Put in order 68 Beasts of burden 69 Some are named for monarchs DOWN 1 Alters for a new purpose 2 Adds to, as a tab 3 The Philippines’s capital 4 High-five sounds 5 Assembly place for heros? 6 Final or oral

7 Jazz genre 8 Valuable stash 9 Word before “bean” or “cheese” 10 Umpire’s cry 11 Chosen divinely 12 Age for a quinceanera 13 Pupil 21 Rare eye color 22 Immigrant’s class, perhaps: Abbr. 29 Congressional output 30 High point 32 Many have round bodies and narrow necks 33 Oval Office’s Resolute ___ 34 Relative of a B&B 35 Mon. follower 37 More sleepy 38 Farm layer? 39 Home ___ (classic Christmas comedy) 40 Beale Street’s locale 41 Guacamole need 44 “Yada, yada, yada”: Abbr. 45 Much of North Africa 47 Matchbox plaything 48 Longtime Chevy named for an

antelope 9 Minneapolis and Saint Paul 4 52 Parts of sliding puzzles 53 Where Van Gogh painted The Night Café 55 Open-mouthed 58 Firefighter’s need 59 Has a mortgage, say 61 Pack ___ (hoarder) Solution to Tuesday’s puzzle:

Show BusinessMirror

www.businessmirror.com.ph

Editor: Gerard S. Ramos

• Friday, April 23, 2021

Paulo takes on most challenging role yet Queen Elizabeth expresses thanks for ‘support and kindness’ By Pan Pylas The Associated Press LONDON—Queen Elizabeth II has expressed her thanks for all the “support and kindness” shown following the death of her husband, Prince Philip. In a statement on Wednesday posted on social media on her 95th birthday and which she personally signed off as Elizabeth R, the monarch said it has been “a comfort” to “see and to hear all the tributes to my husband” from within the UK, the Commonwealth and around the world. “My family and I would like to thank you all for the support and kindness shown to us in recent days,” she said in her first remarks since Philip’s funeral on Saturday. “We have been deeply touched, and continue to be reminded that Philip had such an extraordinary impact on countless people throughout his life,” she added. The queen said she had received “many messages of good wishes” for her 95th birthday, which she “very much” appreciated. She is marking her birthday in a low-key fashion at Windsor Castle. Some members of the royal family are expected to be with her on Wednesday. Her birthday falls within the two-week royal mourning period for Philip that is being observed until Friday. British Prime Minister Boris Johnson was one of many people who sent best wishes to the monarch. “I have always had the highest admiration for Her Majesty and her service to this country and the Commonwealth,” Johnson said on Twitter. “I am proud to serve as her prime minister.” Philip, also known as the Duke of Edinburgh, died on April 9 at age 99. Family and friends gathered for his funeral at St. George’s Chapel in Windsor on Saturday to say their final farewells. His death came a few months before his 100th birthday, which was due to be the focus of royal celebrations this year, while the queen’s 95th was always set to be a more low-key event.

PAULO ANGELES

IS good looks and irresistible charm started winning scores of fans for Paulo Angeles when he entered showbiz as a member of It’s Showtime’s Hashtags. Later on, the ultimate charmer even gained more followers when he ventured into acting. And thanks to his stints in La Luna Sangre, Precious Hearts Romances: Araw Gabi and the latest in Ang Sa Iyo ay Akin, Paulo was noticed by ABS-CBN executives and decided to cast him opposite Ina Raymundo in Me & Mrs. Cruz, the third installment of the Ampalaya Chronicles of iWantTFC. The previous two outings were Adik and Labyu HeHe. Me & Mrs. Cruz tells the story of Eva Cruz (Ina) and Caloy (Paulo), two individuals who develop a deep connection despite their 23-year age gap. Caloy, a carefree and witty flower shop delivery boy from the province, crosses paths with Eva, a sophisticated woman who loves to party as her way of coping after losing her husband. Intrigued by Eva’s mysteriousness, Caloy makes it his mission to free her from her sadness. What makes the series different from the other May-December affair shows or films is that while many of the products out there focus on sexual tension, Me & Mrs. Cruz is more tamed and tender. And based on the trailer, it even seems innocuous as the series is based on spoken-word art. The series was inspired by an artwork by Jerome Dawis, and it also stars Kat Galang, Kristof Garcia, Mark Wei, JM Mendoza, Sophie Reyes, Nicki Morena and Frances Makil-Ignacio. Back to Paulo—according to him, he had fun doing the series as the cast members eventually became his friends. He recalls there were a lot of light moments, and that it didn’t feel like work for him when he would report to the set. But that doesn’t mean it was all play for him as he also learned a lot from his costars, particularly from Ina who intimidated him at first but the veteran actress was open to Paulo and offered him advice.

“She told me na ’wag kabahan in the scenes we were doing. She is very open as an actor and as a person and for someone of her stature, to help me improve is something that I really appreciate,” Paulo said. “And what you see is what you get. ‘Di ba she’s portrayed as this sexy star but when you talk to her, she’s so nice and so soft-spoken. Ganyan talaga s’ya. Sexy at maganda and very friendly and nice as a person.” Me & Mrs. Cruz, along with the first two Ampalaya Chronicles episodes Adik and Labyu Hehe, is already available for free worldwide on the iWantTFC app (iOS and Android), or on iwanttfc.com. Viewers can also enjoy watching on a bigger screen through select devices on VEWD, ROKU streaming devices, Android TV, select Samsung Smart TV models, and Telstra

TV for global users. iWantTFC is also available via chromecast and airplay. nnn SKY and HBO GO give Filipinos the chance to catch Wonder Woman 1984, the much-celebrated DCEU film that broke the film company’s streaming records, as it exclusively premieres on the HBO streaming app, HBO GO. Subscribe to HBO GO via SKY today for as low as P99 per month to stream Wonder Woman 1984. Subscribers will also get to stream other DC extended universe blockbusters, such as Zack Snyder’s Justice League, Man of Steel, Batman v Superman: Dawn of Justice, Suicide Squad, Shazam, Joker, and Birds of Prey, and The Fantabulous Emancipation of One Harley Queen for a minimal cost. n

Julie Anne San Jose, David Licauco set to brew romance in ‘Heartful Cafe’

DC’s ‘Wonder Woman 1984’ streams first in PHL with HBO GO

GLOBE announces that its content partner HBO GO will be the first in the Philippines to premiere DC’s Wonder Woman 1984 this month. The action-packed film that debuted globally in December 2020 follows the next chapter in Diana Prince’s story as she saves the world once again—this time in vibrant and sleek 1980s fashion. Wonder Woman 1984 is just one of the many films available on the platform as Globe and HBO GO work together to encourage consumers to watch and stream their favorite movies legally through trusted partners. Globe makes it so easy for its customers to subscribe to HBO GO and enjoy access to its extensive content library. New Globe At Home Postpaid customers who avail of the latest Unli Fiber Up Plans instantly enjoy trial access to HBO GO for three months. This offer is also up for grabs for existing customers when they upgrade their current subscriptions to Plan 1699 and up. This exclusive promo is accessible through the Globe At Home app. Meanwhile, Globe At Home Prepaid WiFi customers can subscribe to HomeWATCH199 through the Globe at Home app to get 4GB per day for non-stop streaming on HBO GO. Globe Postpaid and Prepaid Mobile customers, on the other hand, can subscribe to HBO GO for only P149 per month through the GlobeOne app; Globe Platinum partners can charge their subscription on their monthly consumable allowance. Globe Prepaid customers can also get an extra 1GB for HBO GO with GoWATCH10 on top of their favorite Go promos via the GlobeOne app to enjoy worry-free streaming. Apart from Wonder Woman 1984, HBO GO is the content streaming service that offers an expansive film and series library with popular titles, such as True Blood, other DC films, as well as HBO-exclusive content like Game of Thrones. There are also kid-friendly content that the entire family can enjoy, one of which is Tom and Jerry 2021, premiering on June 4.

Beginning April 26, the charming story of two business owners-turned-lovers unfold on GMA’s newest prime-time offering Heartful Café. The original series introduces the fresh team-up of two of the network’s brightest stars—multihyphenate Julie Anne San Jose as Heart Fulgencio, an online romance novelist and coffee enthusiast who owns a cozy and quaint café called The Heartful Café; and David Licauco as Ace Nobleza, a competitive and goal-driven businessman who takes an interest in Heart’s café. Julie shares that she is both excited and challenged to be acting again: “It’s really good to be back doing a series, talagang exciting and challenging. I’m excited kasi ang ganda ng story ng Heartful Café, may new set of actors na makakawork ako, and of course the production team na bago rin. It’s also challenging because of our current situation na new normal. We have limitations and we have to follow safety protocols.” Apart from the romance and comedy elements of the series, David believes that viewers can also learn a thing or two about business management: “Not only ’yung mga tao matutuwa dahil romantic-comedy siya, light siya; I think matutunan din nila maging passionate when it comes to business, maging goal-driven, maging hardworking kasi

’yung mga characters sa show ay talagang very focused sa ginagawa nila.” Adding flavor to the series are EA Guzman as Uno Ynares, Heart’s “The One That Got Away” who returns from his studies abroad after realizing that success is hollow without love; Ayra Mariano, Victor Anastacio and Angel Guardian. The show also introduces Zonia Mejia and Jamir Zabarte. Set in a coffee shop located inside a university campus, Heartful Café follows the story of Heart Fulgencio (Julie). For her, the café is more than just a stomping ground for coffee drinkers; rather, it’s a place where all the magic happens. Despite having experienced heartbreak herself, Heart enjoys playing cupid for her customers who seek help regarding matters of the heart. When her café turns into shambles, Ace Nobleza (David), a handsome coinvestor comes into her life. Heartful Café is under the supervision of the GMA Entertainment Group headed by senior vice president for Entertainment Group Lilybeth G. Rasonable, and under the direction of Mark Sicat dela Cruz. It premieres on April 26, and airs weeknight after First Yaya on GMA. It will also be simultaneously aired on GMA Heart of Asia. Viewers abroad can also watch the series via GMA’s flagship international channel, GMA Pinoy TV (www. gmapinoytv.com).

Julie Anne San Jose and David Licauco

Globes group ousts member over his Black Lives Matter e-mail LOS ANGELES—A former president of the organization that hosts the Golden Globes has been dropped from the group’s board after sending an e-mail that called Black Lives Matter a “hate movement.” The Hollywood Foreign Press Association board said in an eimail on Tuesday that Phil Berk is no longer a member of the organization. The decision comes hours after NBC—which telecasts the Globes—condemned Berk’s actions and called for his “immediate expulsion.” The show’s producer, dick clark productions, also demanded for Berk’s removal. Berk, an eight-term association president, fell under heavy scrutiny after he sent an e-mail on Sunday criticizing Black Lives Matter co-founder

Patrisse Cullors. The South African-born Berk shared an article that called Black Lives Matter a “racist hate movement” and described Cullors as a “selfproclaimed trained Marxist,” according to a report from the Los Angeles Times. The e-mail was sent to HFPA members, staff and the group’s general counsel and chief operating officer. Berk had been a member of the organization for more than 40 years. Shaun Harper, who was hired as a diversity strategist advisor by the HFPA last month, said in a resignation letter that he was initially optimistic when he joined the organization, but he felt compelled to step down after learning about the group’s “deep systemic and reputational challenges.”

“I no longer have confidence in our ability to collaboratively deliver the transformational change that the industry and people in it whom I deeply respect are demanding of you,” said Harper, who is a professor of racial, gender and LGBTQ issues at the University of Southern California’s Marshall School of Business. “My serious, unwavering commitment to the racial and gender equity issues on which I work every day make it impossible for me to continue serving in a consulting capacity with the HFPA,” he continued. In February, the HFPA was criticized for lacking diversity. At the time, the group had 87 members who are journalists, but none are Black, the Times reported. The organization has said that an “action plan” was under development to admit Black members. AP

B6 Friday, April 23, 2021

Experience more joy with the Jollibee App Globe joins earthquake drill to ensure preparedness among employees and facilities

LOBE continues to foster a culture of readiness for all of its employees and facilities in the event of a strong earthquake by joining the Nationwide Simultaneous Earthquake Drill (NSED) last March. Organized by the National Disaster Risk Reduction and Management Council (NDRRMC), the NSED is done on a quarterly basis to properly assess the readiness, responsiveness, and capabilities of the different companies and institutions should a strong earthquake hit the country. Employees at Globe’s offices and technical facilities took part in the first quarter NSED which was done virtually due to the COVID-19 pandemic. Once the alarm sounded off, they immediately exercised the “Duck, Cover and Hold” or the DCH routine, a measure that can potentially reduce injury and death during earthquakes. However, evacuation drills were eschewed to keep in line with health and safety protocols. “The safety of our employees is always on top of our mind so we continuously endeavor to establish a culture of readiness in the organization even under the work-from-home setup should a massive earthquake occur,” said Rizza Maniego-Eala, Globe’s Chief Risk Officer. Previous Globe practices of earthquake drills within its corporate offices and technical sites have shown employees’ acute preparedness as they

displayed immediate responsiveness during their participation. Globe offices are also equipped with hard hats, first aid and emergency response kits for the employees to use in the event of an evacuation. This time as the majority of employees are working from home, Globe made sure to equip its workforce and their households with relevant information to ensure their safety during natural calamities. Employees were advised to prepare their own survival kits or Grab N’ Go bags that contain the essentials for emergency evacuations. Globe also consistently practices Call Tree exercises for proper employee accounting in case of an emergency, crisis, or disaster and has also set up a hotline that employees can get in touch with for assistance. Aside from being a regular participant in earthquake drills that are being conducted by government agencies, the company’s Occupational Health and Safety (OHS) team also annually conducts an integrated earthquake and fire drill in different Globe sites across the country to train and to refresh site personnel on appropriate emergency response. Globe’s emergency response procedures are guided by its OHS Policy and the OHS Management System under ISO 450001 which is part of the company’s enterprise-wide certification on Integrated Management

System. This is also aligned with the company’s overall Business Continuity Management System under ISO 22301 which ensures the continued delivery of services in the event of disasters. The OHS team also regularly organizes training for the Emergency Response Team (ERT) members to make sure they are fully capable of providing support and response during emergency situations. This includes first aid and basic life-support training and fire emergency response. Furthermore, the OHS team evaluates the Personal Protective Equipment (PPE) in the different Globe sites as well as ensures that the company complies with legal and regulatory requirements while applying best practices across the organization. All these actions are part of Globe’s commitment to the United Nations Sustainable Development Goal No. 11—Sustainable Cities and Communities—which highlights the importance of making cities inclusive, safe, resilient, and sustainable. It also calls for a holistic disaster risk management at all levels in line with the Sendai Framework for Disaster Risk Reduction 2015-2030 through the integration of policies and plans towards inclusion, resource efficiency, mitigation and adaptation to climate change, and resilience to disasters. Know more about Globe’s initiatives by visiting https://www.globe.com.ph/.

Vivo Y20s [G]: Stay winning with a gaming smartphone that matches your skill and speed

N the art of mobile gaming, both gamer skill and his machine should match to keep on winning, and thanks to performance smartphones like the vivo Y20s [G] equipping players with a performance processor that’s boosted by the MediaTek HyperEngine, and a longlasting battery, gamers get a thrilling and satisfying gaming experience. It is powered by MediaTek Helio G80 that supports faster load time, more efficient connectivity and better

visual quality in mobile games, and a 5000mAh battery that makes winning moments longer for a budget-friendly price of PHP9999. For those who are ahead of the pack or those determined to master a new game faster, the vivo Y20s [G] got you covered with its Helio G80 octa-core processor. It records speed of up to 2.0 GHz (Gigahertz) which offers 98% more power than its predecessors In boosting connectivity performance, MediaTek optimizes latency by carefully

managing different connections like game controllers and headsets that are often connected via bluetooth and the smartphone’s connection to WiFi. Its multi-peripheral coexistence mechanism maintains a smooth and seamless flow of these many connections. On visual quality, MediaTek mirrors its expertise in premium TVs to smartphone displays as MediaTek MiraVision enhances in-game image quality real-time which makes for a lower action-to-display latency. Sealing the richness of the visuals are better contrast, texture sharpness, and fine details, further enhanced with vivo Y20s [G] Halo FullView Display. What are these features for without solid power supply? The vivo Y20s [G] has a 5000mAh battery and an 18W fast charge for ultra-fast charging. Punctuating its incredible gaming specs with a little bit of style and more ease of use is its side-mounted fingerprint scanner that makes unlocking super convenient. Now that’s a sophisticated way to start and end exhilarating gaming moments. Visit www.https://www.vivoglobal. ph/ or visit vivo Philippines on Facebook, Twitter and Instagram. The Y20s [G] is also available for purchase at vivo’s official Lazada and Shopee stores.

MORE joyful online experience is in store for you with the convenience of ordering through the Jollibee App! Not only do you get your Jollibee favorites in a few and easy steps, but you can also enjoy them fresh and hot at the comfort of your home. Have a smooth time ordering with the new delivery app’s features and upgrades: customers can now order Jollibee favorites with ease using their smartphones via seamless and easy-touse interactive menus that allow users to navigate between the latest food options. Ordering is made even more convenient with cashless payments, a quick checkout process, and the option between pick-up or delivery. What’s more is that customers can avail of exclusive deals and discounts that will make your ordering experience more joyful! Those who have already registered to the Jollibee App can get P50 off for minimum orders of P500 and P100 off for orders of P1,000 and up from April 19 to June 30. While first time users get a special treat from April 19 to 25 of 50% off their orders with a maximum discount of P100. There’s also a special welcome gift for new users of the App, you can redeem coupons and choose between a free Jolly Spaghetti with Coke or free Tuna Pie with Coke on your first transaction. Valid from April 26 to June 30, this exclusive promo allows you to not only get additional savings, but also add more of your Langhap-sarap favorites to your orders which you can share with your family and loved ones.

With most of us still confined in our homes, we can still experience more Joy just by using the Jollibee App. Bonding with friends online can be more enjoyable with your favorite meals, online classes and work-from-home can be a more fun and filling experience with a muchdeserved lunch or afternoon break, and nothing beats quality time with the family while partaking on a delicious and hearty Jollibee dinner. It’s time to experience the app’s smooth and easy-to-use feature by downloading it now on the Google Play Store of the Apple Store. Have a more joyful online experience only with the Jollibee app! Discover more joy by watching Jollibee’s latest animated video on their official Facebook and Youtube pages.

Cinemalaya sails to new direction, creates film lab

HE winds of change have caught the sails of the Cinemalaya’s balanghai and take the film festival into a new direction. Amid the social realities brought by the global health situation where existing protocols make it impossible for the 2020 and 2021 batch to complete their films on time, Cinemalaya re-thinks its direction and strategy to remain significant while continuing to fulfill its mission of discovering, encouraging, supporting, training and recognizing gifted Filipino independent filmmakers. For its 2023 edition, Cinemalaya introduces a new direction and further expands its cinematic boundaries through the Cinemalaya Film Lab, a three-monthlong film-laboratory mentorship program

happening on September to November 2021, conducted entirely online. The film lab adheres to the education values of the Cinemalaya Institute, bringing together resource persons from different aspects of filmmaking -- from scriptwriting, directing, cinematography, performance, editing, production design, sound, music, production management to promotion strategies. By doing this, the Cinemalaya hopes to expand the Main Competition to include feature-length documentaries while encouraging filmmakers to focus on subject matters that capture the heart of the Filipinos. Cinemalaya likewise encourages submissions that combine different genres (“multi-genres”) and even “multimedia” (live action with animation or purely animation). At the same time, it intends to prioritize film concepts that are workable or manageable to produce. To join, interested participant should check requirement from www.culturalcenter. gov.ph or www.cinemalaya.org. Send your entries through this link http://bit.ly/Cinemalaya2023EntryForm or to the Film, Broadcast and Media Arts Division of the Cultural Center of the Philippines, Roxas Blvd., Pasay City. Deadline for submission is at 6pm on June 11, 2021 (Friday).

TikTok is officially ISO 27001 certified as part of ongoing commitment to security and privacy

T TikTok, the top priority is the safety, security, and privacy of the community. They are always working to enhance and advance our security efforts to safeguard the platform as a destination for self expression, creativity, and joy. That's why TikTok is proud to announce that they are officially ISO 27001 certified in the US and UK, with Singapore, Ireland, and India soon to follow! The ISO certification is one of the most globally recognized information security standards, demonstrating our investment in the people, processes, and technology to keep our global community safe. A critical part in building a world class global security organization includes testing their defenses by collaborating with external partners. TikTok continues to welcome security, privacy, and policy experts to review their code and algorithm at TikTok’s Transparency and Accountability Center. During the ISO certification process, independent third party auditors performed a series of rigorous checks to confirm TikTok's global security, risk, and controls operations meet the highest standards. Core to this

was evaluating how they protect their platform's infrastructure, development, operations, and services, including: Demonstrating evidence of implementing and maintaining an effective Information Security Management System (ISMS) to safeguard data Validating a range of security controls to show TikTok's alignment with security best practices Cross-functional collaboration across security, IT, legal, privacy, and HR teams to build a culture of security awareness Achieving the ISO 27001 certification is another step in our comprehensive security journey, and this important work is ongoing, and always will be. TikTok remains focused on taking their efforts to the next level and leading the industry by persistently investing, iterating, and upholding their commitments to protect the vibrant TikTok community.

Sports BusinessMirror

Editor: Jun Lomibao

Banzon brothers named to DLSU Sports of Fame

Athlete protests remain banned in Tokyo–IOC

AUSANNE, Switzerland—Athlete protests and political messages will remain banned at the Olympics, the International Olympic Committee (IOC) said Wednesday, after a survey found that a majority of competitors were in favor of keeping the ban in place. That means raising a fist on the podium—like American sprinters Tommie Smith and John Carlos famously did at the 1968 Mexico City Olympics—or taking a knee would still risk punishment at the Tokyo Games this year. The IOC said it surveyed more than 3,500 athletes over the past year and that 70 percent said it was “not appropriate to demonstrate or express their views” on the field of play or at the opening or closing ceremony. The survey also showed 67 percent of respondents disapproved of podium demonstrations. The IOC has not said what consequences athletes may face for protesting, but a “proportionate” range of punishments will be drafted before the games, said Kirsty Coventry, who represents athletes on the IOC executive board. Smith and Carlos were both expelled from the 1968 Olympics after their salute. Organizers meanwhile, said also on Thursday that a policeman tested positive for Covid-19 a day after his assignment last week at the Olympic torch relay. It is the first positive test connected to the relay since it began March 25 from northeastern

Vanessa Sarno (center) get’s a royal treatment from national coaches Gary Hortelano (left) and Nick Jaluag.

NEXT BIG THING? V

By Josef Ramos

ANESSA SARNO competed as a 17-year-old in the women’s seniors division and bagged herself two gold medals on Wednesday at the Asian Weightlifting Championships in Tashkent—her first overseas competition. Those two golds—plus a silver—outshone Hidilyn Diaz, who finished fourth in her weight

class but good enough to send her to a fourthstraight Olympics appearance in Tokyo. “I didn’t lose hope, I just lifted the best I could. And I focused very well,” said Sarno,a 10th-grader at the Bohol Institute of Technology in Tagbilaran. “My coaches strategized very well. I am so happy to capture my first-ever gold here in a seniors tournament.” Sarno lifted 128 kgs in the clean and jerk of the women’s 71-kg category, winning the

ORGANIZERS hold signs to spectators that read “Avoid crowding! Wear masks” during the Tokyo Olympic torch relay in Tobe, Ehime prefecture, on Thursday. AP Fukushima prefecture. Organizers say the 30-year-old policeman was assigned to control traffic on the April 17 leg in southwestern Kagawa prefecture. They said the officer developed symptoms and tested positive the next day. Local health authorities are investigating. Officials say the policeman was wearing a mask and taking social-distancing precautions and other measures. The report comes as Japan is preparing to declare a third state of emergency in western metropolitan areas around Osaka, and in Tokyo. It is expected on Friday and is being re-instated after current measures failed to slow the latest resurgence fueled by a new, more contagious variant of the virus detected earlier in Britain. The organizers said all participants and officials are taking the best precautions and that the case will not affect the subsequent legs of the torch events. The torch relay involves 10,000 runners crisscrossing Japan for four month, ending at the arrival at the National Stadium on July 23 to kick

off the scheduled opening ceremony. For precautions, legs last week were run in a city park in Osaka and taken off the public streets. Something similar is expected for some legs on May 1 and 2 on the southern island of Okinawa. Upholding Rule 50 of the Olympic Charter, which prohibits any “demonstration or political, religious or racial propaganda” at the games, puts the IOC at odds with Olympic officials in the United States. The US Olympic and Paralympic Committee said in December it will not take action if athletes raise their fists or kneel during the national anthem at their event trials before Tokyo. The American Olympic body, which inducted Smith and Carlos into its Hall of Fame in 2019, eased its stance after athletes asked for the right to express themselves on racial and social justice issues. AP

Talisay unscathed in 6 games

JAS Zenith-Talisay City booked an authoritative 97-65 victory over Tubigon Bohol to remain unbeaten in six games at the start of the second round of the Chooks-toGo Pilipinas VisMin Super Cup on Thursday at the Alcantara Civic Center in Cebu. But the Aquastars had to shake off a sluggish start—they trailed by 11 points, 24-35, in the second period—before imposing their will over their opponents. Talisay City rode the hot hands of Val Acuña and Jaymar Gimpayan in an 11-0 run at the start of the third quarter that vaulted them to a 48-41 lead. Patrick Jan Cabahug, Egie Boy Mojica, Shane Menina and Kevin Villafranca joined the scoring parade in the stretch that pushed Talisay to a 66-47 advantage heading into the fourth quarter, which they transformed into a mere formality when they led by as many as 32 points. “We’re very concerned about our slow starts. I think it’s been going on for two games already,” Cabahug said. “Coach [Aldrin Morante] told us not to be overconfident because it’s what’s causing

Casimero stakes belt against Rigondeaux

ROTHERS Jomari, Rene and Greg Banzon, former athletics stalwarts in the 1980s, will be inducted to the De La Salle Sports Hall of Fame at the biennial One La Salle Night of Excellence recognition rites honoring outstanding alumni. This will be the first time in its long history that three brothers will be inducted to the university’s Hall of Fame at the same time. “We are very grateful for this recognition. We are proud to have brought glory to De La Salle. We are also thankful to our mom and dad, Merced and Leonardo Banzon, for being part of our athletic journey. They were always present to motivate and cheer us on during competitions,” Greg Banzon said. As De La Salle athletes from 1977 to 1985, the Banzon brothers’ stellar athletic career started in grade school when they became varsity runners under coach Mar Lamigo. They then progressed to La Salle Greenhills as members of the junior National Collegiate Athletic Association (NCAA) varsity team where the school’s fabled training system under multi-champion coach Antonio “Tatang” Mendoza served as the foundation of the brothers’ athletic development. They joined the track team together, excelling especially in the 400m, 800m, 1,500m and 3,000m distances. Individually, they have set their own records and conferred most valuable player honors multiples times. Collectively, they brought a total of 58 medals for De La Salle, 33 of which were gold. Jomari is now the chief executive officer of SMDC, Rene a senior executive of the Gokongwei group’s airline company focused on aircraft maintenance and Greg, the youngest, is the chief operating officer of Century Pacific Food Inc. Other inductees to the Hall of Fame are Renren Ritualo for basketball, Ira Flores for baseball, Alvin Ocampo for football, Edwin Reyes for sports management and Rep. Mikee Romero for Philippine basketball development.

mirror_sports@yahoo.com.ph | Friday, April 23, 2021

us to start slow. He reminded us that all the teams here are capable of beating us.” Talisay outscored Bohol, 59-24, in the second half, to also emphasize their 105-66 win in the first round last April 9. Bohol remained winless in six games. Acuña led the Aquastars with 14 points built on four three-pointers while Cabahug also made three triples to finish with 13 points. Gimpayan had 13 points, seven rebounds and two blocks. Jonathan Ibarra led Bohol with 16 points, while Joseph Marquez had 14 points and eight rebounds. Pari Llagas chipped in 13 points and 10 rebounds.

JULIAN’S RACE

Julian Alaphilippe earns his third victory after 2018 and 2019 in the Flèche Wallonne one-day classic on Wednesday, overtaking Spanish Vuelta champion Primoz Roglič on the final ascent to the finish line. The Deceuninck-Quick Step rider clocked the 194-kilometer course in four hours, 36 minutes and 25 seconds. World champion Anna van der Breggen wins the women’s race for the seventh straight time. AP

gold by seven kilos over Turkmenistan’s Gulnabat Kadyrova. She bagged her second gold medal with a total lift of 229 kgs, relegating Kadyrova (223 kgs) and Kazakhstan’s Yekaterina Bykova (213 kgs) down the podium. She lifted 101 kgs in the snatch but settled for the silver behind Kadyrova, losing by a mere kilo. “We didn’t expect her to win the gold because the Turkmenistan and Kazakhstan lifters are very strong and their totals are high,” Gary Hortelano, one of two coaches who accompanied the Filipino lifters in the Uzbek capital, said. The next big thing? “She is very strong, she is the first Filipina to lift 128 kgs in the clean and jerk,” Diaz, who cheered her

OHNRIEL CASIMERO vowed to knock out two-time Olympic champion Guillermo Rigondeaux of Cuba when he stakes his World Boxing Organization bantamweight belt on August 14 at a still undetermined venue in the US. International matchmaker Sean Gibbons confirmed the Casimero-Rigondeaux fight to BusinessMirror on Thursday, adding the 32-yearold three-division Filipino world champion Casimero will start his training camp in the US on June 1. “Johnriel Casimero will be fighting a two-time world champion, a former two-time Olympic gold medalist and an all-time greatest amateur fighter,” said Gibbons, referring to Rigondeaux who won gold medals at the 2000 Sydney and the 2004 Athens Olympics as a bantamweight. “It’s a tremendous fight,” he added. Gibbons said the Ormoc City pride (30-4 win-loss record with 21 knockouts) will do Filipino fight fans a favor—finish what a prime world champion Nonito Donaire Jr. couldn’t do by sending the 40-year-old Rigondeaux to his second loss in his career. “He [Casimero] is going to do the fight fans a favor and give revenge for Nonito Donaire’s loss. He is going to knock out Rigondeaux teammates from the stands, said. “She needs to dream high and continue her training” Diaz was herself an unassuming 17-year-old when she got a wild card entry in her first Olympics in Beijing in 2008. That paved the way for the Zamboangena to return four years later in London and, finally, clinched a silver medal in Rio 2016. The other Filipino coach, Nick Jaluag, sees a bright future for Sarno. “We are so happy that she peaked during the tournament. Her condition looks great,” Jaluag said. “She’s our future.” Next stop for Sarno is the 31st Southeast Asian Games in November. “It’s my dream to win a gold in the SEA Games but

dead,” Gibbons said. Gibbons said Casimero could now be vigorously staying in shape in his hometown. “I hope he is training now, and not wait until June 1. We are not worried about Casimero though because he knows what he’s doing,” Gibbons said. Casimero will train under strength and conditioning coach Angel Heredia Hernandez. Rigondeaux, the current World Boxing Association regular bantamweight champion, scored a unanimous decision win against Donaire Jr. in April 2013, relying solidly on tactical movements to seize the WBO and WBA super bantamweight titles in New York City. But Casimero’s sixth straight knockout wins since 2018, including his recent third round technical knockout win over Duke Micah last September 26 in Connecticut, put “El Jackal” Rigondeaux (20-1 record with 13 knockouts) in a tight situation. Rigondeaux’s only loss came at the hands former world champion Vasyl Lomachenko—a sixth-round technical knockout last December 9, 2017. He retired on his stool because of an injured left hand. The fight is released and organized by the Premier Boxing Champions of Al Haymon and Showtime Boxing. Josef Ramos I have to work very, very hard,” she said. Sarno won two gold medals and one silver in the Asian Youth and Junior Weightlifting Championship in North Korea in October 2019. The International Weightlifting Federation allows athletes aged 17 and under to compete in the seniors division. But if they do so, they could no longer revert to the juniors category. Erleen Ando clinched two silvers and a bronze in the women’s 64-kg class and Mary Flor Diaz grabbed three silvers in the 45 kgs category earlier in the tournament. Kristel Macrohon of Zamboanga City was competing in the women’s 76-kg class late Thursday. John Dexter Tabequi of Cebu will compete on Friday in the men’s 96-kg class.

B8 Friday, April 23, 2021

Motoring BusinessMirror

Editor: Tet Andolong

Missing Toyota Road Trek; bye Pareng Louie to toss me straight into my assigned seat—make that aisle. I got to the Manila Centennial airport at minutes past 12 noon, where a Camry was waiting to whisk me off straight to a Parañaque court to be on time for the 1 p.m. hearing. I was like Tom Cruise in a “Mission Impossible,” achieving the task clockwork—thanks to Toyota Road Trek’s precise calculations through the Jing & Shawin Show.

HE pandemic’s greed for destruction has killed so many allimportant events, appointments and iconic occasions, many of which already institutionalized. The motoring industry is no exception to this wholesale swath of virus savagery. Launches of new models have been reduced to virtual shows the past two years or so. Press conferences are now done via zoom, which are very impersonal proceedings. Luncheon/dinner dates require virus tests at the entrance, sometimes creating hassles too irritating to deal with. Test-drives are no longer the normal, run-of-the-mill stuff. Sales agents contacts/chats and showroom visits have become as rare as fireflies in the big city. Trips overseas to motor shows, Formula One races and assembly visits got scrapped in bundles due to stringent travel restrictions.

Tokyo Motor Show

AND will the biennial Tokyo Motor Show this year that is usually scheduled October-November also in danger of getting canceled? Most probably, yes. The only remaining window for it to survive the virus-inflicted cull is if and when the Tokyo Olympics will push through as scheduled this July—a long shot. Should the Tokyo Motor Show get scuttled this year, my streak of 14 straight TMS trips beginning in 1993 will be snapped. And to appease the wounded heart and to likewise heal the clipped winged feet, I will find solace in the saying, “All things must pass, incIuding the good ones.” Oh, well, even on the local scene, already snuffed out by Covid-19 last year was the Toyota Road Trek, the iconic motoring event that made yearly trips to scenic, mostly picturesque spots that are more than your usual tourist destinations around the country.

I miss most

IT is the local motoring event I miss most, two years in the running now since the virus had viciously sideswiped it last year. Launched in 2005 with the terrific tandem of Ariel de Jesus (now Wurth’s country manager here) and Elijah-won Marcial (now Toyota’s Senior Vice President) as spearheads, the TRT had its baptism of fire from Manila to Iloilo to Boracay via Roxas City. Because of its innovative features, it would quickly become the country’s most awaited summer spectacle on wheels and, not for long, stand out as a must-attend for a fledgling industry pen-wielder to earn the glorious badge as a full-fledged motoring journo. I covered all but one of the 15 Toyota Road Treks—the Leyte-SamarCebu leg in 2011—all because of a pressing family affair. To me, family always comes first, no matter what’s at stake. There were other Road Treks that conflicted with family schedule. But, gladly, they were all resolved through compromises to the satisfaction of all, especially the missus. One such event was the 2012 Manila-Bohol-Cebu joust.

Beatles classic

I almost missed it because of a court hearing for a dear family member that required my presence for, what else but, moral support. We had met halfway. I’d miss the Bohol part and fly directly to Cebu in a place called Bantayan, a small, bucolic island reachable by a motorboat in 30 minutes or so. With me in this historic trip was Danny “Sir John” Isla, then president of Lexus Manila. I had but a tiny John Lennon black bag bought in Saitama City, Japan; stuffed it with one underwear and one T-shirt. Sir John and I arrived in Bantayan after several hours by car at past noon, took a shower and repaired at a table by the seaside drinking beer while watching bancas sail by gingerly, lazily. During that night’s traditional awards presentation, I did my usual stuff, grabbing the mike from the band’s lead singer and, in my typical unadulterated yearly ritual, belted out the Beatles classic, “Why Don’t We Do It On The Road?” I don’t know how long the song lasted but after I was done singing—no, shouting—I found myself in my room lying in bed at 2 a.m. The phone rang. “The hearing is at 1 p.m. today,” said the missus. “We need you here.”

Jing & Shawin Show

JING Atienza and Shawin ChuaLim smuggled me out at 5 a.m. for the 10 a.m. Cebu-Manila flight. Dramatically, I caught it in the nick of time. Jing and Shawin had arranged for me to skip airport routine and Year

Destination

2005

iloilo-Boracay

Roadtrek 1

2006

Cagayan de Oro-Davao

Roadtrek 2

2007

Dumaguete-Cebu

Roadtrek 3

2008

Rizal-Palawan (ElNido)

Roadtrek 4

2009

Bacolod-Dumaguete

Roadtrek 5

2010

iloilo-Antique-Boracay

Roadtrek 6

2011

Leyte-Samar-Cebu

Roadtrek 7

2012

Bohol-Cebu

Roadtrek 8

2013

Clark-Palawan (Coron)

Roadtrek 9

2014

iloilo-Boracay

Roadtrek 10

2015

Cebu

Roadtrek 11

2016

Palawan (El Nido, Lagen) Roadtrek 12

2017

Siargao

Roadtrek 13

2018

Clark-Balesin

Roadtrek 14

2019

Palawan (El Nido)

Roadtrek 15

Never mind that Sir John was fuming when he learned I had left him behind in Bantayan. “Had I known you were leaving, I would have joined you,” he said. Inseparable separated. For once. Below is the complete 15-leg Toyota Road Trek schedule:

PEE STOP

I grieve over the death of my Pareng

Louie Visorde, the best mayor Calauag, Quezon, has ever had. The cruelty of Covid-19 did not spare my Pareng Louie, who, despite being past 80, was still sprightly and always up and about before the dreaded virus snatched him so suddenly on Monday, April 19. A Nissan Navara loyalist, Pareng Louie also adored his Isuzu D-Max. Bye, Pareng Louie. You will be terribly missed.